Agthia Group · ADX:AGTHIA
Agthia — H1 2025 Earnings Presentation
46 slides from Agthia's earnings presentation, Aug 7, 2025
Slide 1: Investor Presentation Q2'25 Results
Investor Presentation Q2’25 Results 7 August 2025
Slide 2: 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 3: Agenda
Agenda 01 Strategic Update 04 Segment Performance 02 Key Financials 03 Dividend 3
Slide 4: Recap: Our Strategic Vision to Become a Regional F&B Leader
Recap: Our Strategic Vision to Become a Regional F&B Leader 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 Local organization mindset Consumer-centric & performance-driv
Slide 5: H1'25: Progress on Strategic Vision – To Date
H1’25: Progress on Strategic Vision – To Date Delivering Growth Driving Efficiency Expanding Capabilities • Reported revenue declined 4.0% YoY; • Net Productivity of AED 90M in H1’25 • Accelerating our digital roadmap: driven by 4.5% decline in pricing/mix, which • Improved Home Office Services app
Slide 6: Q2'25 Key Financials
| Q2’25 Key Financials agthia @ a2.ci
Slide 7: Q2'25: Group Headlines
Q2’25: Group Headlines Group Revenue, AED M Group Gross Profit, AED M ▪ Revenue increased 5.9% YoY, to AED ▪ Gross Profit declined by 9.0% YoY. +5.9% -9.0% 1.1 billion in Q2’25, driven by 10.3% volume growth which was partially ▪ GP Margin declined by 431bps to offset by price decline of 4.3%. 26.2%
Slide 8: Strong Topline Growth in Water & Food and Snacking
Strong Topline Growth in Water & Food and Snacking Q2’25 revenue 5.9% YoY, driven by 10.3% volume growth which was offset by 4.3% price / mix impact Group Revenue (AED M) 52 1,140 1,077 13 -2 0 Q2'24 Snacking Protein & Frozen Water & Food Agri-Business Q2'25 8
Slide 9: Q2'25: Group Headlines
Q2’25: Group Headlines Group Underlying EBITDA, AED M Group Underlying Net Profit, AED M ▪ Group Underlying EBITDA was down -40.9% 40.9% YoY, with the underlying EBITDA ▪ Group Underlying Net Profit declined margin contracting by 655bps to 8.3%. -85.8% by 85.8% YoY, with an underlying Net ▪ Contribu
Slide 10: Underlying EBITDA Impacted by Operational Challenges in Dates and Protein
Underlying EBITDA Impacted by Operational Challenges in Dates and Protein Q2’25 Underlying EBITDA -40.9% YoY, EBITDA Margin 8.3% (-655bps) Q2’25 Reported EBITDA -71.3% YoY Group EBITDA (AED M) 160 150 -10 7 94 18 3 -71 -13 -38 43 -9 -4 10
Slide 11: Underlying NP Impacted by Operational Challenges in Dates and Protein
Underlying NP Impacted by Operational Challenges in Dates and Protein Q2’25 Underlying Net Profit -85.8% YoY, Net Profit Margin 0.9% (-575bps) Q2’25 Reported Net Loss of AED 37.0M Group EBITDA (AED M) 62.4 7.7 10.2 -1.3 -55.3 -3.3 Q2’24 Underlying Interest Tax D&A Q2’25 Provisions for Provisions for
Slide 12: 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 M CCC days • Working Capital as % of sales increased to 10.0% 13.7% 13.7%, driven by reduced utilization of Supply Chain Financing (SCF) during th
Slide 13: Free Cash Flow Analysis
Free Cash Flow Analysis Free Cash Flow Bridge, AED M Key Highlights FCF decreased by AED 313 M YoY, reaching negative 179 AED 139 M in H1’25. The decline was primarily driven by: 174 • Lower utilization of Supply Chain Financing, significantly offseting the improvement in Working Capital excluding S
Slide 14: Leverage Impacted by Operational Headwinds, M&As, and Shift Away from SCF
Leverage Impacted by Operational Headwinds, M&As, and Shift Away from SCF Net Debt / EBITDA1 Interest Coverage2 3.0x FY Dec’24 - 1.5x 4.7x FY Dec’24 – 9.4x Borrowing Capacity Avg Dividend Yield3 0.5bn FY Dec’24 – 1.7bn 3.5% FY’24 DPS = AED 0.210 14 1 Net debt as on 30 June 2025 divided by LTM EBITDA
Slide 15: BoD Recommended to Maintain Interim Dividends at 10.31 Fils per Share
BoD Recommended to Maintain Interim Dividends at 10.31 Fils per Share +5% bonus shares 32% 35% 44% 43% 66% 85%1 58% 53% 56% 60% 48% 98%2 Dividend payout % 0.2103 0.185 = 0.165 0.165 0.165 0.150 0.150 0.150 0.150 0.125 Dividends 0.1031 0.1031 per share (AED) 2015 2016 2017 2018 2019 2020 2021 2022 20
Slide 16: Segmental Performance
Segmental Performance
Slide 17: Diversified Growing Portfolio in Large Scalable Markets
Diversified Growing Portfolio in Large Scalable Markets Diversified Revenue by Geography... …and Segments 6% 26% 29% 25% 54% 15% 25% 20% UAE Other Arab Countries Snacking Water & Food GCC excl. UAE RoW Protein & Frozen Agri-Business 17 1Based on H1’25 sales
Slide 18: Water & Food: Strong Top-line Growth Driven by UAE Water and M&A
Water & Food: Strong Top-line Growth Driven by UAE Water and M&A Revenue, AED M EBITDA, AED M Q2’25 Highlights Underlying EBITDA Margin Revenue +19.8% 18.0% 17.4% • +19.8% YoY. LFL revenue +14.0% YoY (excluding Riviere), driven by local sales as well as strong performance in Turkey (+28.9%), Oman (+
Slide 19: Agri-Business: Strong Volume Growth and Margin Expansion
Agri-Business: Strong Volume Growth and Margin Expansion Revenue, AED M EBITDA, AED M Q2’25 Highlights EBITDA Margin Revenue 16.5% 17.6% • Segment revenue declined 0.6% YoY -0.6% • Feed sales declined by 3.1%, reflecting lower +6.1% average selling prices due to the commoditized nature of the catego
Slide 20: Snacking: Strong Abu Auf Growth Offset by Operational Challenges in Dates
Snacking: Strong Abu Auf Growth Offset by Operational Challenges in Dates Revenue, AED M EBITDA, AED M Q2’25 Highlights Underlying EBITDA Margin 14.2% -11.3% Revenue • Revenue increased 5.0% YoY primarily on sustained +5.0% strong performance by Abu Auf o Abu Auf delivered growth of 40.7% in AED ter
Slide 21: Protein & Frozen: Managing Input Cost Pressure While Scaling New KSA Facility
Protein & Frozen: Managing Input Cost Pressure While Scaling New KSA Facility Revenue, AED M EBITDA, AED M Q2’25 Highlights EBITDA Margin Revenue 14.7% 9.5% • Revenue broadly stable (-0.2% YoY), primarily due to -0.2% continued pressure in Egypt and temporary slowdown in Nabil sales. -35.6% o In Egy
Slide 22: Egypt: Resilient Growth Supported by Exports and Auf Retail Expansion
Egypt: Resilient Growth Supported by Exports and Auf Retail Expansion Q2’25: Resilient topline, margin held back by input cost pressure “Export Hub” Strategy Revenue, AED M EBITDA, AED M & EBITDA Margin (%) +14.7% 20.0% 17.5% AED 55.3 M Exports from Egypt in H1’25 +0.5% 218 190 38.0 38.1 • 4.0% AED
Slide 23: H1'25: Underlying Performance Snapshot
H1’ 25: Underlying Performance Snapshot Strong Underlying Operating Performance One-Off Adjustments in H1’25 • Revenue +6.1% YoY excluding EGP devaluation impact and wheat One-off adjustments reflect strategic steps to enhance long-term trading activity in Q1’24 financial health and accountability •
Slide 24: H2'25: Our Key Priorities
H2’25: Our Key Priorities Al Foah Reset Protein & Frozen Driving Underlying advancing capabilities, Business Turnaround enhancing internal controls, Business Performance and unlocking new growth transformation team in place to by reinforcing a more agile, drive market share, strengthen through expan
Slide 25: 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 26: Appendix
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Slide 27: H1'25 Segment Performance
H1’25 Segment Performance Snacking Protein & Frozen Revenue, AED M EBITDA1, AED M Revenue, AED M EBITDA, AED M -3.2% YoY -85.5% YoY, EBITDA1 margin -1,739bps -8.7% YoY -44.0% YoY, EBITDA margin -500bps 147 534 718 695 488 69 21 39 14 8 H1'24 H1'25 H1'24 H1'25 H1'24 H1'25 H1'24 H1'25 Water & Food Agr
Slide 28: H1'25: Over AED 83M in Revenue Generated from Strategic Product Innovation
H1’25: Over AED 83M in Revenue Generated from Strategic Product Innovation Snacking Protein & Frozen Veg Agri-Business Abu Auf: New Mazag-brand Turkish coffee blend Egypt: New flavors and varieties of chicken strips Flour: New Mushattalt tailored for the HORECA and catering segment, as well as new b
Slide 29: 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 30: Investing in Growth: Protein Expansion in KSA
Investing in Growth: Protein Expansion in KSA Project Overview ▪ Location: Jeddah, KSA ▪ Available land 9,436 sqm; Built-up area 6,600 sqm ▪ Capex c. AED 90M (Phase 1) ▪ Current capacity ≈ 3,500 tons/annum ▪ ≈ 50 SKUs (Phase 1) ▪ Phase 2: Expected launch in early 2026 with additional capacity ≈ 5,50
Slide 31: 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 Summer Provides Platform to Engage Al Foah & BMB Innovation Synergy: Strong Results in Q2’25 Abu Auf New Freakin’ Wholesome choco- and fi
Slide 32: Protein & Frozen: Expanding Capabilities and Portfolio Optimization
Protein & Frozen: Expanding Capabilities and Portfolio Optimization Continuous Portfolio Optimization Smart Social Media Campaigns Expanding Capabilities in KSA Egypt: Atyab and Chicketita launched several Capitalizing on strong and strategic social media Combined KSA protein sales, including Nabil
Slide 33: 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 Continuing to strengthen market share by: Further str
Slide 34: 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 specialty products: • Branding distribution vehicles • Farmers’ Marke
Slide 35: 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 36: Progress on Digital Agenda
Progress on Digital Agenda Key Achievements in H1’25 Accelerate Digital Transformation by Adopting AI +26.4% YoY surge in e-commerce revenue, reflecting 6.0% of total revenue during H1’25 We have partnered with the biggest players in AI to: • Predict customer inquiries, resulting in the reduction of
Slide 37: Agthia Sustainability Strategy Pillars
Agthia Sustainability Strategy Pillars Environmental Integrity Scaling Health and Wellness • 5.0% YoY increase in absolute water consumption during H1’25 • Our commitment to quality continues to be recognized, with multiple Agthia • 5.0% YoY increase in absolute emissions in H1’25 products honored a
Slide 38: Board of Directors
Board of Directors Chairman / Vice Chairman Board Member Khamis Mohamed Ms. Mariam Khalifa Sultan Salmeen Svet Ms. Caitlin Ms. Sharmila Maurizio Gil Adotevi Buharoon Al Ahmed Al Suwaidi Al Ameri Varadzhakov Nguyen Murat Patarnello Shamsi Al Remeithi Chairman Vice Chairman Managing Group Chief Managi
Slide 39: Strong Leadership Team with Track Record of Value Creation
Strong Leadership Team with Track Record of Value Creation Group Functions Business Segments Salmeen Jeroen Ramy Hala Hobeiche Vandy Dos Abdulla Mahammad Ahmad Ahmed Nizar Al Ameri Nijs Merdan Katounas Santos Al Marzooqi Amro Yahya Farrag Kayali Managing Director & Chief Financial Chief Operating Ch
Slide 40: EBITDA and NP Reconciliation
EBITDA and NP Reconciliation AED M Q2 2025 Q2 2024 YTD 2025 YTD 2024 Reported EBITDA 43.0 149.8 228.7 382.4 1 Bad debt provisions for legacy receivables , including: 47.1 - 47.1 - - Water & Food 37.7 - 37.7 - - Snacking 9.4 - 9.4 - Timarat JV exit 4.4 - 4.4 - Yoplait Closure - 10.0 10.0 Underlying E
Slide 41: 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 42: Summary Profit & Loss Statement
Summary Profit & Loss Statement AED'000 H1’25 H1’24 YoY Revenue 2,424,010 2,525,930 -4.0% Cost of sales -1,763,007 -1,780,399 1.0% Gross profit 661,003 745,531 -11.3% Selling and distribution expenses -305,357 -311,330 1.9% General and administrative expenses -247,950 -190,243 -30.3% Research and de
Slide 43: Summary Balance Sheet Statement
Summary Balance Sheet Statement AED'000 Q2’25 FY'24 FY’23 FY’22 Property, plant and equipment 1,439,602 1,428,985 1,460,821 1,446,027 Intangible assets & Goodwill 2,496,789 2,394,815 2,408,106 2,421,885 Others 143,334 138,154 128,038 104,521 Total non-current assets 4,079,725 3,961,954 3,996,965 3,9
Slide 44: 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 -60,346 -83,565 2
Slide 45: Summary Cash Flow Statement
Summary Cash Flow Statement AED'000 H1’25 H1’24 YoY Profit for the period 49,079 189,983 -74.2% Adjustments for: Depreciation & Amortization 108,028 106,728 1.2% Provisions & Allowances 65,308 23,334 179.9% Others 65,633 75,712 -13.3% Change in: Inventories 224,979 207,086 8.6% Trade and other recei
Slide 46: Thank You
Thank You