Sustained Infrastructure Holding Company · TADAWUL:2190
Sustained Infrastructure — Sustainable Infrastructure Holding Company — FY2024 Earnings Presentation
30 slides from Sustained Infrastructure's earnings presentation, Mar 18, 2025
Slide 1: Sustainable Infrastructure Holding Company FY24 Earnings Presentation
SUSTAINABLE INFRASTRUCTURE HOLDING COMPANY FY24 EARNING PRESENTATION
Slide 2: Agenda
AGENDA Contents Slide No. 1. HIGHLIGHTS FY2024 3 2. FINANCIAL PERFORMANCE 6 3. PORTFOLIO PERFORMANCE 10 A. PORTFOLIO – CONSOLIDATED ASSETS 11 B. PORTFOLIO – OTHER ASSETS 14 4. STRATEGY IMPLEMENTATION PROGRESS 16 6. OUTLOOK 20 7. APPENDIX 22 sisco.com.sa 2
Slide 3: Highlights FY24
HIGHLIGHTS FY24. i
Slide 4: Financial Highlights Q4'24
Financial Highlights Q4’24 *Excluding accounting construction revenue REVENUE* EBITDA - ADJUSTED SAR 352.6m SAR 171.3m Q4’23: SAR 276.1m Q4’23: SAR 174.6m +27.7% Y-Y -1.9% Y-Y GROSS PROFIT - ADJUSTED NET INCOME - ADJUSTED SAR 171.8m SAR 19.3m Q4’23: SAR 151.5m Q4’23: SAR 22.7m +13.5% Y-Y -14.8% Y-Y
Slide 5: Financial Highlights FY24
Financial Highlights FY24 *Excluding accounting construction revenue REVENUE* EBITDA - ADJUSTED SAR 1.25bn SAR 735.8m FY 2023: SAR 1.05bn FY 2023: SAR 636.6m +19.2% Y-Y +15.6% Y-Y GROSS PROFIT - ADJUSTED NET INCOME - ADJUSTED SAR 641.4m SAR 72.1m FY 2023: SAR 564.1m FY 2023: SAR 88.3m +13.7% Y-Y -18
Slide 6: Operational Highlights FY24
Operational Highlights FY24 Ports and Logistics Water Tawzea M&A Terminals Parks and segment Services Ports and Terminals Logistics Parks and Secured a key Signed strategic M&A – we have signed segment saw strong Services revenues contract extension partnerships with one NBO and are in performance,
Slide 7: Dry Powder Capital Allocation
Dry Powder Capital Allocation • Percentages are indicative only and may change from time to time at the SISCOs discursion and as business needs progress. ** Out of the total GDI commitment, SAR 61.6m has already been deployed Allocation Commitment Dividends 85.0 Share Buyback 6.2 10.8% Committed RSP
Slide 8: Financial Performance
| | PERFORMANCE FINANCIAL
Slide 9: Income Statement Highlights
Income Statement Highlights SAR millions (adjusted: excludes accounting construction revenue) GROUP ADJUSTED GROSS PROFIT & MARGIN REVENUE 48.7% 54.9% YE 2024 REVENUE YE 2024 ADJUSTED SAR 1.25bn GROSS PROFIT 352.6 171.8 SAR 641.4m 276.1 +19.2% 151.5 +13.7% Q4'23 Q4'24 Q4'23 Q4'24 • Revenue up 27.7%
Slide 10: OPEX and Investment Income
OPEX and Investment Income SAR millions Q4 INCOME FROM OPERATING EXPENSES FINANCE CHARGES EQUITY ACCOUNTED ASSOCIATES F/V Fees Others SAR 24.8 m 60.6 74.2 73.8 380% 31 27 86.9 17.8 68.7 63.7 FINANCE CHARGES 42.9 43.2 46.8 SAR 292.7m Q4'23 Q3'24 Q4'24 +20.0% Q4'23 Q3'24 Q4'24 • Operating expenses ros
Slide 11: EBITDA and Net Income
EBITDA and Net Income SAR millions ADJUSTED NET INCOME ADJUSTED EBITDA & MARGIN & MARGIN 8.2% 5.5% 63.3% 48.6% ADJUSTED EBITDA YTD ADJUSTED NET INCOME YE 2024 SAR 735.8m SAR 72.1m 22.7 174.6 171.3 +15.6% 19.3 -18.4% Q4'23 Q4'24 Q4'23 Q4'24 • Adjusted net income in Q4 decreased by 15% compared to Q4
Slide 12: Portfolio Performance
PORTFOLIO PERFORMANCE
Slide 13: Ports and Terminals Q4'FY24
Ports and Terminals Q4’FY24 SAR millions FY24 ADJUSTED NET INCOME (MARGIN) REVENUE* GROSS PROFIT & SAR 126.2 m (12.2%) MARGIN Gateway Transhipment +18.8% Y-Y Consignee 56.6% 51.3% 56.3% 296.5 281.2 220 VOLUME (TEUS ‘000) 109.3 116.9 Gateway Transhipment 74.7 159.1 152.2 41.5 870 829 868 41.2 123.9 5
Slide 14: Logistics, Parks and Services Q4'FY24
Logistics, Parks and Services Q4’FY24 SAR millions FY24 REPORTED NET INCOME (MARGIN) REVENUE GROSS PROFIT & SAR 21.6m (18.2%) MARGIN Land Warehouse Service -23.8% Y-Y 49.8% 32.2 29.0% 32.6 29.5 33.2% 13.8 15.5 OCCUPANCY (%) 11.3 Land Warehouse 16 9.6 11.9 12.9 9.5 9.8 81% 88% 91% 8.8 5.2 5.4 95% Q4'
Slide 15: Water Solutions Q4'FY24
Water Solutions Q4’FY24 SAR millions FY24 NET INCOME (MARGIN) GROSS PROFIT & REVENUE MARGIN SAR 23.3m (24.2%) Tawzea Others Other Revenue 49.1% 53.3% -8.0% Y-Y 48.1% 26.1 23.5 24.0 3.6 2.9 1.9 VOLUME, WATER SOLD (MN M3) 6.8 8.2 7.7 Tawzea Others 12.8 12.5 11.5 1.3 1.4 1.3 14.3 14.3 14.0 2.8 2.9 2.8
Slide 16: Tawzea Q4'FY24
Tawzea Q4’FY24 SAR millions FY24 ADJUSTED NET REVENUE ADJUSTED GROSS PROFIT & INCOME (MARGIN) MARGIN 21.3% SAR 68.8 (12.2%) 23.3% 297.7% Y-Y 13.6% 31.9 158.3 149.3 119.1 27.7 SISCO SHARE OF FY24 21.5 ADJUSTED NET INCOME SAR 32.4m Q4'23 Q3'24 Q4'24 Q4'23 Q3'24 Q4'24 +297.7% Y-Y • Q4’24 revenue saw a
Slide 17: SA Talke Q4'FY24
SA Talke Q4’FY24 SAR millions FY24 NET INCOME REVENUE GROSS PROFIT & MARGIN SAR 62.9m 26.8% 25.9% 26.3% +3.9%Y-Y 93.8 75.4 81.4 25.1 SISCO SHARE OF FY24 21.4 19.5 ADJUSTED NET INCOME SAR 23.1m Q4'23 Q3'24 Q4'24 Q4'23 Q3'24 Q4'24 +4.5 % Y-Y • Revenue increased significantly in Q4’24 compared to Q4’23
Slide 18: Strategy
STRATEGY
Slide 19: Strategic Objectives
Strategic Objectives Revenue of SAR Target ROIC of 1 2 billion by 2026 more than 12% Targeting 50% revenue and 2 net income contribution from Logistics and Water segments Strong total Sustainable 3 returns for dividend shareholders distribution sisco.com.sa 19
Slide 20: Outlook
OUTLOOK |
Slide 21: Management Outlook
MANAGEMENT OUTLOOK Ports and Logistics Water M&A Terminals Parks and segment Services Our Ports segment is LogiPoint continued its Improvement of gross During the year we well positioned to expansion with with the profit margins in completed two M&A maintain the strong addition of the new SAR Water
Slide 22: Revenue and Gross Profit Composition
Revenue And Gross Profit Composition Ports Logistics Water SAR millions Revenue Composition Adjusted Gross Profit Composition 151.4 179.8 171.8 564.1 641.3 7.7% 47.8 9.5% 44.8 8.8% 45.5 10.9% 56.3 12.8 12.5 548.0 11.5 463.0 80.2% 16.0 9.4 9.8 Inner | FY 2023 123.9 157.6 149.5 82.8% Outer | FY 2024 Q
Slide 23: Appendix
APPENDIX
Slide 24: 6X26 Strategy Implementation Key Updates
6X26 Strategy Implementation Key Updates Logistics • Increased bonded zone RSGT Bangladesh warehouse capacity to commenced operations in 120k m2 June 2024 • Work has commenced on • Additional concessions being 1. Fortify national championship ✓ pursued in East and West Africa Khumra Logistics Park a
Slide 25: Income Statement - Quarterly
Income Statement - Quarterly SAR 000 Q4 2023 Q4 2024 Variance Q3 2024 Operational Revenue 276.1 352.6 27.7% 341.8 Direct Costs (150.6) (180.7) 20.0% (161.9) Gross Profit 125.5 171.8 36.9% 179.8 Operating expenses (68.7) (86.9) 26.5% (63.7) Operating Profit 56.8 84.9 49.5% 116.1 Share of profit from
Slide 26: Income Statement – FY 2024
Income Statement – FY 2024 SAR 000 YE 2023 YE 2024 Variance Operational Revenue 1,052.4 1,254.5 19.2% Direct Costs (514.3) (613.2) 19.2% Gross Profit 538.1 641.3 19.2% Operating expenses (218.8) (263.4) 20.4% Operating Profit 319.3 377.9 18.4% Share of profit from investees 30.5 6.9 -77.4% Finance C
Slide 27: Balance Sheet
Balance Sheet YE 2023 YE 2024 Fixed Assets 4,284.6 4,382.8 Investments 283.6 262.4 Other Long-Term Assets 6.0 5.7 Current Assets 1,415.7 1,372.7 Total Assets 5,989.9 6,030.6 Borrowings 1,492.4 1,255.8 Long Term Liabilities 1,553.0 1,711.7 Current Liabilities (excl. borrowings) 629.8 655.3 Total Liab
Slide 28: Cash Flow Statement
Cash Flow Statement YE 2023 YE 2024 Operating cash flow before working capital 581.5 681.1 SAR million FY 2023 FY 2024 Net working capital movement (35.3) (334.9) Cash At Center 370.4 400.8 Cash generated from operating activities 546.2 346.2 Cash At Affiliates 796.4 4843 Finance charges, Zakat & in
Slide 29: 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 SUSTAINABLE INF
Slide 30: sisco.com.sa
& sisco.com.sa Qa 7
Sustainable Infrastructure Holding Company — FY2024 Earnings Presentation on 6ix