National Agricultural Development Co. · TADAWUL:6010
National Agricultural Development — The National Agricultural Development Company — Investor Presentation (September 2023)
17 slides from National Agricultural Development's investor presentation, September 2023
Slide 1: The National Agricultural Development Company
The National Agricultural Development Company Investors Presentation - September 2023
Slide 2: Disclaimer
Disclaimer The content in this presentation may change at any time, its correctness cannot be guaranteed, and it might not include all relevant information about the Company. We do not guarantee the accuracy or completeness of any information given herein and do not accept liability or responsibilit
Slide 3: Presenting Team
Presenting Team Dr.Solaiman A.AlTwaijri Hassan Aqrouq Chief Executive Officer Vice President - Finance Private and Confidential 3
Slide 4: Financial Performance
Financial Performance Private and Confidential 4
Slide 5: Financial Highlights – Q3 2023
Financial Highlights – Q3 2023 Revenue by Segments Gross Profit +47.2% Gross Profit Margin +22.4% Q3 23 324 Q3 23 37.6% 861 Mn 703 Mn Q3 22 220 Q3 22 31.3% 35 , 25 , 19 , 3% 9 , 1% 4% 3% 75 , Operating Profit +145.7% Operating Profit Margin 91 , 11% 10% Q3 23 92 Q3 23 10.7% Q3 2023 Q3 2022 Q3 22 42
Slide 6: Financial Highlights – YTD Sep 2023
Financial Highlights – YTD Sep 2023 Revenue by Segments Gross Profit +48.9% Gross Profit Margin YTD YTD +18.4% 898 37.5% Sep 23 Sep 23 2,396 Mn YTD YTD 2,024 Mn 603 29.8% 74 , 74 , Sep 22 Sep 22 48 , 2% 56 , 3% 3% 3% 212 , Operating Profit +151.3% Operating Profit Margin 278 , 12% 11% YTD YTD 228 9.
Slide 7: Balance Sheet
Balance Sheet FY22 Sep23 Total Assets: SAR 3,822 Mn Total Assets: SAR 3,988 Mn ROE ROA Sep23 12.1% Sep23 4.7% 3% 3% 11% 14% FY22 7.4% FY22 2.5% 38% 41% 14% 15% ROCE Current Ratio 1% 2% Sep23 9.8% Sep23 0.8x FY22 6.2% FY22 0.8x 29% 22% 71% Receivables, Prepayment and Others Trade and Other Payables 6
Slide 8: Q3 2023 Net Income Bridge
Q3 2023 Net Income Bridge SAR Million +47 Mn *Others includes the one-off items i.e. Provision from govt. subsidiaries, impairment provision on DF-3 etc. Private and Confidential 8
Slide 9: YTD Sep 2023 Net Income Bridge
YTD Sep 2023 Net Income Bridge SAR Million +108 Mn *Others includes the one-off items i.e. Write off/ Impairment losses on Property, Plant and Equipment and Capital work in progress. Private and Confidential 9
Slide 10: Working Capital
Working Capital SAR Million 26% 19% 16% 13% 10% 11% 551 426 373 290 265 260 2018 2019 2020 2021 2022 Sep 2023 % of Revenue 2018 2019 2020 2021 2022 Sep 2023 Days of Inventory outstanding (DIO) 154 145 124 103 94 100 Days of Sales outstanding (DSO) 76 71 70 91 66 56 Days of Payable outstanding (DPO)
Slide 11: Net Debt and EBITDA/ EBIT Margins Trend
Net Debt and EBITDA/ EBIT Margins Trend SAR Million 1,799 7.81x 2,694 1,574 2,396 1,555 2,303 2,225 2,225 1,422 1,413 2,096 1,312 4.56x 21% 21% 19% 17% 15% 3.35x 3.27x 3.60x 10% 9% 9% 8% 3.01x 6% 6% 124% 130% 109% 96% 109% 89% -3% 2018 2019 2020 2021 2022 Sep 2023 2018 2019 2020 2021 2022 Sep 2023 N
Slide 12: Debt Maturity Profile – Average debt tenure at 1 Year
Debt Maturity Profile – Average debt tenure at 1 Year SAR Million 151, 12% 149 Murabaha ADF Loan Sep23 1 1,161, 88% 1 552 307 302 97, 6% Upto 1 Yr 1-2 Yrs 2-5 Yrs Murabaha ADF Loan Banks Govt FY22 1,428, 94% Private and Confidential 12
Slide 13: Appendix
Appendix Private and Confidential 13
Slide 14: Income Statement
Income Statement SAR million Income Statement YTD Sep 23 YTD Sep 22 Revenue from Operations 2,396 2,023 Cost of Good Sold (1,499) (1,421) Gross Profit 898 603 Selling General & Admin Exp. (582) (477) Other Operating Expenses* (87) (9) Operating Profit 228 117 Finance Cost (53) (34) Share of Profit i
Slide 15: Summarized Balance Sheet
Summarized Balance Sheet SAR million Balance Sheet Sep 30, 2023 Dec 31, 2022 Non-Current Assets 2,670 2,707 Current Assets 1,319 1,115 Total Assets 3,988 3,822 Non-Current Liabilities 866 1,090 Current Liabilities 1,649 1,437 Total Liabilities 2,515 2,527 Shareholders’ Equity 1,473 1,295 Total Share
Slide 16: Cash Flow Statement
Cash Flow Statement SAR million Cash Flow Statement Sep 30, 2023 Sep 30, 2022 Net Profit/ (Loss) 178 70 Adjustment for Non-Cash and Non-operating Items 525 350 Cash Operating Profit 703 420 Changes in working capital Zakat Paid (4) (1) Employee Benefits Paid (16) (24) Cash Flow from Operating Activi
Slide 17: Thank you
Thank you
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