Agthia Group · ADX:AGTHIA
Agthia — Q1 2025 Earnings Presentation
42 slides from Agthia's earnings presentation, May 14, 2025
Slide 1: Investor Presentation Q1'25 Results
Investor Presentation Q1’25 Results 14 May 2025
Slide 2: Agenda
Agenda 01 Strategic Update 03 Segment Performance 02 Key Financials 04 Q&A 2
Slide 3: Disclaimer
Disclaimer Agthia Group PJSC and its management may make 7. expected financial results; 8. sensitivity to changes in 4. various events which could disrupt operations, certain statements that constitute “forward-looking product prices; 9. sensitivity to key input prices; 10. including natural events
Slide 4: Recap: Our Strategic Vision to Become a Regional F&B Leader by 2025
Recap: Our Strategic Vision to Become a Regional F&B Leader by 2025 From… To… UAE centric Footprint MENA+ & beyond Commoditized portfolio Value-add F&B brands Becoming a Regional F&B Stable financial performance Strong shareholder returns Leader by 2025 Local organization mindset Consumer-centric &
Slide 5: Q1 2025: Progress on Strategic Vision – To Date
Q1 2025: Progress on Strategic Vision – To Date Delivering Growth Driving Efficiency Expanding Capabilities • Reported revenue declined +11.4% YoY; • Focus on productivity enhancement: • Investing in innovation: driven by 10.3% decline in pricing and 1.1% AED 29MN in Q1’25 • Snacking: Pistacho Kunaf
Slide 6: Key Financials
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Slide 7: Q1'25: Group Headlines
Q1’25: Group Headlines Group Revenue, AED MN Group Gross Profit, AED MN ▪ Net Revenue declined 11.4% YoY, to ▪ Gross Profit declined by 13.2% YoY, -11.4% -13.2% AED 1.3 billion in Q1’25. with the margin down by 57bps. ▪ Excluding the impact of Egypt’s ▪ Gross Profit Margin declined by currency deval
Slide 8: Q1'25: Group Headlines
Q1’25: Group Headlines Group EBITDA, AED MN Group Net Profit, AED MN -20.2% ▪ Group EBITDA was down 20.2% YoY, ▪ Group Net Profit declined by 32.5% with the EBITDA margin contracting by -32.5% YoY, with the Net Profit Margin at 6.7%. 159bps to 14.5%. ▪ The decline was in line with the EBITDA ▪ Stron
Slide 9: Shift in Working Capital Structure due to Lower Utilization of Supply Chain Financing
Shift in Working Capital Structure due to Lower Utilization of Supply Chain Financing NWC and NWC as % of Sales1 Cash Conversion Cycle Key Highlights AED mn CCC days • Working Capital as % of sales increased to 15.8% 15.8%, primarily driven by reduced utilization of 8.4% +323 Supply Chain Financing
Slide 10: Free Cash Flow Analysis
Free Cash Flow Analysis Free Cash Flow Bridge, AED mn Key Highlights FCF decreased by AED 399 mn YoY, reaching negative AED 311 mn in Q1’25. The decline was primarily driven 154 by: • Lower utilization of Supply Chain Financing, significantly offseting the improvement in Working 88 Capital excluding
Slide 11: Healthy Balance Sheet with Low Leverage
Healthy Balance Sheet with Low Leverage Net Debt / EBITDA1 Interest Coverage2 2.4x FY Dec’24 - 1.5x 7.6x FY Dec’24 – 9.4x High Borrowing Capacity Avg Dividend Yield3 1.0bn FY Dec’24 – 1.7bn 3.9% FY’24 DPS = AED 0.210 1 Net debt as on 31 Mar 2025 divided by LTM EBITDA. 2 EBITDA for Q1’25 divided by n
Slide 12: Strong Underlying Topline Growth in Water & Food and Agri
Strong Underline Topline Growth in Water & Food and Agri Q1’25 revenue -11.4% YoY, driven by 10.3% decline in pricing further amplified by 1.1% decline in volume Q1’25 revenue +5.2% YoY, excluding EGP devaluation impact and Q1’24 wheat-trading activity Group Revenue (AED MN) 1,449 28 -37 -46 1,284 -
Slide 13: EBITDA Growth Impacted by Operational Challenges in Dates
EBITDA Growth Impacted by Operational Challenges in Dates Q1’25 EBITDA -20.2% YoY, -12.1% pre devaluation Group EBITDA (AED MN) 233 9 186 9 -55 8 -18 Q1'24 Snacking Protein & Frozen Water & Food Agri-Business Others Q1'25 15 1 Others include digital and capability investments
Slide 14: Net Profit Performance Impacted by Operational Setbacks in Dates
Net Profit Performance Impacted by Operational Setbacks in Dates Q1’25 Net Profit -32.5% YoY, Net Profit Margin 6.7% Group Net Profit1 (AED MN) 128 14 86 -48 6 5 -18 Q1'24 Snacking Protein & Frozen Water & Food Agri-Business Others Q1'25 16 1 Net Profit including minority interest
Slide 15: Segmental Performance
Segmental Performance
Slide 16: Diversified Growing Portfolio in Large Scalable Markets
Diversified Growing Portfolio in Large Scalable Markets Diversified Revenue by Geography... …and Segments 7% 26% 32% 26% 55% 23% 12% 19% UAE Other Arab Countries Snacking Water & Food GCC excl. UAE RoW Protein & Frozen Agri-Business 18
Slide 17: Snacking: Strong Abu Auf Growth Offset by Operational Challenges in Dates
Snacking: Strong Abu Auf Growth Offset by Operational Challenges in Dates Revenue, AED MN EBITDA, AED MN Q1’25 Highlights EBITDA Margin Revenue 24.3% 13.0% • Revenue declined 8.2% YoY primarily due to the -8.2% drop in Al Foah revenue o BMB delivered strong revenue growth, supported by increasing US
Slide 18: Protein & Frozen: Strong Focus on Profitability Protection
Protein & Frozen: Strong Focus on Profitability Protection Revenue, AED MN EBITDA, AED MN Q1’25 Highlights EBITDA Margin Revenue 11.5% 6.4% • Revenue -15.7% YoY (+2.8% YoY excluding EGP -15.7% devaluation impact). o In Egypt, Atyab remained impacted by the EGP devaluation and weaker consumer purchas
Slide 19: Water & Food: EBITDA Outpacing Consistent Revenue Growth
Water & Food: EBITDA Outpacing Consistent Revenue Growth, Driven by Step Up in Efficiency Revenue, AED MN EBITDA, AED MN Q1’25 Highlights EBITDA Margin Revenue 16.5% 17.5% • +10.6% YoY on positive growth, driven by local +10.6% sales, with UAE Bottled Water maintaining its market leadership position
Slide 20: Agri-Business: Strong Volume Growth and Margin Expansion
Agri-Business: Strong Volume Growth and Margin Expansion Revenue, AED MN EBITDA, AED MN Q1’25 Highlights EBITDA Margin Revenue 13.1% 20.2% • Segment revenue declined 24.6% YoY -24.6% primarily due to the high base effect from the wheat trading activity in Q1 2024. +16.1% • Excluding this impact, rev
Slide 21: Egypt: Under Pressure of EGP Devaluation, but Outlook remains positive
Egypt: Under Pressure of EGP Devaluation, but Outlook remains positive Strong Revenue Growth in EGP offset by AED by Devaluation Impact “Export Hub” Strategy Revenue, EGP MN EBITDA, EGP MN & EBITDA Margin (%) +24.8% 3,304 19.0% +0.3% 15.3% AED 22.6 MN Exports from Egypt in Q1’25 2,648 504 505 Q1 202
Slide 22: A Forward-Looking Company
A Forward-Looking Company Market leading position Growing portfolio of consumer- Growth-oriented mindset across key categories and centric brands in large, scalable focused on leveraging synergies, geographies markets innovation and digitization Attractive economics with clear Financial strength Exp
Slide 23: Q&A
Q&A
Slide 24: Appendix
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Slide 25: Q1'25: Over AED 45MN in Revenue Generated from Strategic Product Innovation
Q1’25: Over AED 45MN in Revenue Generated from Strategic Product Innovation Snacking Protein & Frozen Veg Water & Food Zadina: Premium date-sweetened pistachio Egypt: Atyab cold cuts range relaunched, with 2 Premium glass bottles: Still and sparkling water kunafa chocolate, and assorted range of pis
Slide 26: Riviere - Leveraging Synergies with Al Ain HOS
Riviere - Leveraging Synergies with Al Ain HOS Synergies Cements Agthia’s market leadership in UAE 7% UAE household HOS market share1 household HOS with 24% combined market share1 17% UAE household HOS market share 1 Triples Agthia’s household customer base Diversified client base, comprising Primar
Slide 27: Investing in Growth: Protein Expansion in KSA
Investing in Growth: Protein Expansion in KSA Project Overview ▪ Location: Jeddah, KSA ▪ Category: Protein ▪ Capex c. AED 90MN (Phase 1) ▪ Available land 9,436 sqm; Built-up area 6,600 sqm ▪ Current capacity ≈ 3,500 tons/annum1 ▪ ≈ 50 SKUs Rationale ▪ Strengthen footprint in KSA ▪ Strong local deman
Slide 28: Snacking: Innovation-Led Growth, Combined with Excellent Execution and Agility in Auf
Snacking: Innovation-Led Growth, Combined with Excellent Execution and Agility in Auf Innovation Continues to Drive Growth Agility and Execution Excellence in Auf Ramadan Provides Platform to Engage Zadina & BMB Innovation Synergy: Strong Results in Q1’25 Abu Auf • Date-sweetened pistachio kunafa ch
Slide 29: Protein & Frozen: Expanding Capabilities and Portfolio Optimization
Protein & Frozen: Expanding Capabilities and Portfolio Optimization Nabil: Marketing Activation Atyab: Portfolio Optimization Expanding Capabilities in KSA Tier 1: Atyab cold cuts range relaunched, with 2 Nabil in Jordan launched a widely successful New Protein facility in Jeddah officially launched
Slide 30: Water & Food: Broad-based Strong Performance with Improved Business Fundamentals
Water & Food: Broad-based Strong Performance with Improved Business Fundamentals Strong Performance across Geographies Maintaining Leadership with Customer Centricity Connecting though Effective Marketing Al Ain bottled water retaining its market Continue to strengthen market share through: Continue
Slide 31: Agri-Business: Growing Together with Our Customers
Agri-Business: Growing Together with Our Customers Innovating to Secure Growth Grand Mills: Focus on Brand Equity Building Agrivita: Accelerated Digital Revenue Flour: • Building customer loyalty Digitalization: Agrivita app 2 new products: Shandar • Branding distribution vehicles • Farmers’ Marketp
Slide 32: 5-year Digital Roadmap with Clear Priorities
5-year Digital Roadmap with Clear Priorities Priority #1 Priority #2 Best Customer / Consumer Experience Empower Employees in a Collaborative Environment • Seamless omnichannel experience with optimized • Integrated business planning and cross-domain online and in-store execution collaboration • Str
Slide 33: Progress on Digital Agenda
Progress on Digital Agenda Key Achievements in Q1’25 Accelerate Digital Transformation by Adopting AI +18.7% YoY surge in e-commerce revenue, We have partnered with the biggest players in AI to: reflecting 5.6% of total revenue • Predict customer inquiries, resulting in the reduction of resolution t
Slide 34: Agthia Sustainability Strategy Pillars
Agthia Sustainability Strategy Pillars Environmental Integrity Scaling Health and Wellness • 8.5% YoY reduction in absolute water consumption during Q1’25 • Gold Award for Sustainable Brand Owner of 2025 for the 100% recyclable flexible • 5.6% YoY increase in absolute emissions Q1’25 packaging with
Slide 35: Board of Directors
Board of Directors Chairman / Vice Chairman Board Member Khalifa Sultan Salmeen Khamis Mohamed Svet Ms. Mariam Maurizio Gil Adotevi Ms. Caitlin Ms. Sharmila Al Suwaidi Alameri Buharoon Al Varadzhakov Ahmed Patarnello Nguyen Murat Chairman Vice Chairman Shamsi Al Remeithi CEO, Silal Managing Head of
Slide 36: Strong Leadership Team with Track Record of Value Creation
Strong Leadership Team with Track Record of Value Creation Group Functions Business Units Hala Alan Ramy Vandy Dos Abdulla Mahammad Rafik Ahmad Ahmed Nizar Hobeiche Smith Merdan Santos Al Marzooqi Amro Lawendy Yahya Farrag Kayali Katounas Acting Chief President – President – President – Chief Execut
Slide 37: Summary Profit & Loss Statement
Summary Profit & Loss Statement AED'000 FY’24 FY’23 YoY Revenue 4,914,644 4,561,210 7.7% Cost of sales -3,448,429 -3,200,212 7.8% Gross profit 1,466,215 1,360,998 7.7% Selling and distribution expenses -611,930 -577,499 6.0% General and administrative expenses -449,223 -352,081 27.6% Research and de
Slide 38: Summary Profit & Loss Statement
Summary Profit & Loss Statement AED'000 Q1’25 Q1’24 YoY Revenue 1,283,827 1,449,349 11.4% Cost of sales -922,092 -1,032,742 10.7% Gross profit 361,735 416,607 13.2% Selling and distribution expenses -147,169 -163,390 9.9% General and administrative expenses -91,770 -111,352 17.6% Research and develo
Slide 39: Summary Balance Sheet Statement
Summary Balance Sheet Statement AED'000 Q1’25 FY'24 FY’23 FY’22 Property, plant and equipment 1,413,238 1,428,985 1,460,821 1,446,027 Intangible assets & Goodwill 2,391,483 2,394,815 2,408,106 2,421,885 Others 143,784 138,154 128,038 104,521 Total non-current assets 3,948,505 3,961,954 3,996,965 3,9
Slide 40: Summary Cash Flow Statement
Summary Cash Flow Statement AED'000 FY'24 FY'23 YoY Profit for the period 321,834 299,576 7.4% Adjustments for: Depreciation & Amortization 223,151 228,585 -2.4% Provisions & Allowances 143,324 26,724 436.3% Others 126,392 153,948 -17.9% Change in: 814,701 708,833 14.9% Inventories Trade and other r
Slide 41: Summary Cash Flow Statement
Summary Cash Flow Statement AED'000 Q1’25 Q1’24 YoY Profit for the period 86,115 127,597 7.4% Adjustments for: Depreciation & Amortization 52,890 53,980 -2.4% Provisions & Allowances 33,027 10,755 436.3% Others 43,052 35,459 -17.9% Change in: Inventories 61,851 122,399 27.8% Trade and other receivab
Slide 42: Thank You
Thank You 14 May 2025