Sustained Infrastructure Holding Company · TADAWUL:2190
Sustained Infrastructure — Saudi Industrial Services Company (SISCO) — 9M 2021 Earnings Presentation
24 slides from Sustained Infrastructure's earnings presentation, Nov 9, 2021
Slide 1: Saudi Industrial Services Company 9M21 Earnings Presentation
SAUDI INDUSTRIAL SERVICES COMPANY 9M21 Earnings Presentation Tuesday 9 November 2021 YOUR PARTNER IN Ports & Terminals l Logistics Parks & Services l Water Solutions
Slide 2: Disclaimer
Disclaimer This presentation is strictly confidential and is being shown to you solely for your information and may not be reproduced, retransmitted, further distributed to any other person or published, in whole or in part, for any purpose. This presentation has been prepared by Saudi Industrial Se
Slide 3: Contents
Contents • Highlights 9M21 • Strategy overview • Performance review • Q&A Appendix
Slide 4: Highlights 9M 21
Highlights 9M 21 Financial highlights Operating highlights Strong year-on-year revenue growth of 15.2% for 9M (excluding Strong operating performance across all accounting construction revenue). Q3 revenue decreased by 8.8% segments due to gateway volumes pressure across the Kingdom. Healthy growth
Slide 5: Our strategic objectives
Our strategic objectives Double Group Rebalance Create long-term revenue in the the portfolio shareholder next 5 years value • Double revenues • Increase the revenue • Build value by through organic and contribution from the investing in value inorganic growth while logistics and water accretive ass
Slide 6: Evolution of SISCO
Evolution of SISCO Strategic direction for SISCO 1 Maintain focus on KSA, except selectively PORTS LOGISTICS WATER for port sector Maintain focus on existing sectors and 2 increase participation in portfolio companies CURRENT • Single port • Focus on logistics • Standalone operator in JIP real estat
Slide 7: Performance Review
i20alaEWO.04128944 109 -470.01 PERFORMANCE REVIEW
Slide 8: Income statement highlights
Income statement highlights SAR millions (adjusted: excludes accounting construction revenue) REVENUE GROSS PROFIT +18.0% 49.6% +15.2% 716 -26.6% 48.4% 356 -8.8% 622 301 55.3% 50.5% 44.5% 239 245 132 54% 124 218 97 Q3 2020 Q2 2021 Q3 2021 YTD 2020 YTD 2021 Q3 2020 Q2 2021 Q3 2021 YTD 2020 YTD 2021 A
Slide 9: Revenue and gross profit composition
Revenue and gross profit composition SAR millions GROSS PROFIT 10% Inner | YTD 2020 49.6% 48.4% 20 Outer | YTD 2021 11% 11% 20 30 9% 23 55.3% 50.5% 44.5% Ports 7 7 306 8 7 259 11 10 Logistics 80% 117 105 80 Water 79% Q3 2020 Q2 2021 Q3 2021 YTD 2020 YTD 2021 Ports Logistics Water GROUP REVENUES GROS
Slide 10: Opex and investment income
Opex and investment income SAR millions OPEX INVESTMENT INCOME 0.0% 0.5 -6.0% 10.9 123 123 10.8 0.1 0.3 0.1 3.8 4.8 3.2 8.0 43 5.4 40 40 3.7 -0.2 2.0 2.7 Q3 2020 Q2 2021 Q3 2021 YTD 2020 YTD 2021 Q3 2020 Q2 2021 Q3 2021 YTD 2020 YTD 2021 Tawzea SA Talke Others
Slide 11: Net income and proforma net income bridge
Net income and proforma net income bridge SAR millions Proforma Net Income - Quarterly Proforma Net Income - YTD Q3 2020 Q2 2021 Q3 2021 YTD 2020 YTD 2021 24.6 51.8 20.2 41.7 5.2 2.4 2.8 1.6 5.4 5.0 1.0 1.4 0.9 2.2 2.8 Port Logistics Water Port Logistics Water
Slide 12: Balance sheet highlights
Balance sheet highlights SAR millions TOTAL ASSETS Net Debt Debt Cash & Bank 457 455 -92 5,049 4,407 4,419 823 898 793 806 337 368 YE 20 Q2 21 Q3 21 YE 20 Q2 2021 Q3 2021 TOTAL LIABILITIES (excl. borrowings) TOTAL EQUITY 1,961 1,918 1,959 2337 1,709 1,732 YE 20 Q2 21 Q3 21 YE 20 Q2 21 Q3 21
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Slide 14: Appendix
APPENDIX
Slide 15: Ports & terminals | Snapshot
Ports & terminals| Snapshot Volume (TEUs ‘000) Gateway 985 888 839 -29.3% vs Q3 20 242 thousand TEUs Gateway volume Transhipment 957 1021 1370 -15.2% vs Q2 21 Total 1941 1909 2209 458 thousand TEUs +8.1% vs Q3 20 Transhipment volume -1.7% % vs Q2 21 YTD 2019 YTD 2020 YTD 2021 700 thousand TEUs -8.6%
Slide 16: Logistics, Parks & Services | Snapshot
Logistics, Parks & Services | Snapshot Occupancy 92% 99% 99% 51% Open yard +8.5% vs Q3 20 67% 50% 51% occupancy -3.8% vs Q2 21 YTD 2019 YTD 2020 YTD 2021 99% Land Warehouse Warehousing +4.2% vs Q3 20 occupancy - vs Q2 21 Revenue and GP margin • Top line growth continued despite challenging 38.7% mar
Slide 17: Water Solutions | Snapshot
Water Solutions | Snapshot Revenue and GP margin 432 thousand m3 +62.7% vs Q3 20 Rabigh volume +22.1% vs Q2 21 27.7% -1.1% vs Q3 20 29.3% 4.0 m m3 Kindasa volume +2.1% vs Q2 21 38 32 4.5 m m3 +2.8% vs Q3 20 Total volume +3.7% vs Q2 21 26.2% 31.1% 30.0% 11 13 14 37 37 • New customers secured in 9M 20
Slide 18: Income statement
Income statement All amounts are in SAR Millions Q3 ’20 Q3' 21 YTD 20 YTD 21 Variance YTD 21 Vs YTD 20 Revenue* 259.7 223.3 642.5 733.7 91.2 14.2% Direct Costs* (127.5) (126.3) (320.6) (360.6) (40.0) 12.5% Gross Profit 132.2 97.0 301.2 355.5 54.3 18.0% Operating expenses (40.5) (42.9) (122.9) -123.0
Slide 19: Net Income Adjustments
Net Income Adjustments All amounts are in SAR Millions SAR 000 Adjustments Q3 2021 Q3 2020 YTD 2021 YTD 2020 Reported Net Income 3,984 28,157 58,731 111,280 Adjustments: Reversal of provision for asset replacement costs - - - (45,550) IFRS 9 gain on modification of loans - - - (19,367) Reversal of p
Slide 20: Cash flow statement
Cash flow statement All amounts are in SAR Millions SAR 000 YTD 2020 YE 2020 YTD 2021 Operating cash flow before working capital 261.4 458.0 377.4 Net working capital movement (38.2) (59.0) (211.4) Cash generated from operating activities 223.2 399.0 166.0 Finance charges, Zakat & income tax, EOSB (
Slide 21: Balance sheet
Balance sheet SAR 000 YE 2020 YTD 2021 Fixed Assets 3,742,928 3,668,135 Investments 160,672 218,494 Deferred Tax 2,402 2,402 Current Assets 501,152 1,139,857 Total Assets 4,407,154 5,048,887 Borrowings 736,333 752,815 Long Term Liabilities 1,504,194 1,513,832 Current Liabilities (excl. borrowings) 4
Slide 22: RSGT Transaction impact
RSGT Transaction impact All amounts are in SAR Millions Impact of transaction is reflected in Q3 2021 audited financial statements: ▪ There is no impact recognized in the income statement ▪ Transaction is recorded in equity in the consolidated financial statements ▪ SISCO will continue to consolidat
Slide 23: RSGT Transaction impact
RSGT Transaction impact PRE - TRANSACTION POST - TRANSACTION SISCO SISCO 76.0% 76.0% 53% 53% 10% RSPD LogiPoint RSPD LogiPoint 10% 21.2% 60% 4.0% 60% RSGT RSGT
Slide 24: Thank you
MT gesusw THANK YOU a) 25° ie yell lazAl Aogaaal ap dustrial Sen
Saudi Industrial Services Company (SISCO) — 9M 2021 Earnings Presentation on 6ix