Al Ansari Financial Services Pjsc · DFM:ALANSARI
Al Ansari Financial Services Pjsc — FY2023 Earnings Presentation
21 slides from Al Ansari Financial Services Pjsc's earnings presentation, Feb 14, 2024
Slide 1: Al Ansari Financial Services PJSC Q4 and FY 2023
Al Ansari Financial Services PJSC Investor Presentation Q4 and FY 2023 14 Feb 2024
Slide 2: Disclaimer
Disclaimer The information contained herein has been prepared by Al Ansari Financial Services PJSC (the “Company” or the “Group”). The information contained in this presentation may not have been reviewed or reported on by the Company’s auditors. The company relies on information obtained from sourc
Slide 3: Today's Presenters
Today’s Presenters Rashed A. Al Ansari Mohammad Bitar Faisal Anwar Group Chief Executive Officer Deputy Group Chief Executive Group Chief Financial Officer Officer 3 FY’23 Results
Slide 4: Table of Contents
Agenda Table of Contents 1. FY & Q4 2023 Financial Highlights 5 2. Macro Updates 10 3. Business Performance Highlights 11 4. Financial and Cash Position Highlights 14 5. Dividend Policy 16 6. Growth Strategy Updates & Guidance 17 4 FY’23 Results
Slide 5: Financial and Q4 2023 Highlights
Financial and Q4 2023 Highlights
Slide 6: 2023 Key Highlights
2023 Key Highlights FY’23 Operating Income YoY 9% growth in Non-Remittance Operating Income amid positive increase in diverse business streams. Operating Income for the Group showed a marginal -1.9% decline for the full-year 2023 by -1.9% year on year (YoY), FY’23 No. of Transactions YoY attributed
Slide 7: 2023 Financial & Operating Performance Snapshot
2023 Financial & Operating Performance1 Snapshot Financial Performance Operating Performance FY’23: Net profit (AED) EBITDA (AED) 563 mn 49.01 mn 256 495 mn FY ‘22 645 mn Total number of transactions +8.5% vs. FY’22 Number of physical branches 25 net new branches since Jan 2023 -15.7% YoY EBITDA mar
Slide 8: Revenue Contribution
Revenue Contribution YTD Dec 2022 YTD Dec 2023 Others Others WPS +25% WPS 2% +11% 2% 5% 6% 29% 32% Remittances Bank Notes Remittances Bank Notes +8% -8% 60% 64% % Growth in 1) Based on continued operations only (Excluding the comparative results from discontinued business) Revenue 8 FY’23 Results
Slide 9: Income Statement Overview
Income Statement Overview % YTD YTD % Commentary Income Statement Q4‘23 Q4‘22 change Dec-23 Dec-22 change • Net gain on currency exchange saw a dip of 10.8% year on year (YoY) due to a decrease of 13% in Outward Personal Remittance volumes. Net gain on currency exchange 129,809 152,864 (15.1%) 541,6
Slide 10: Our home market, the UAE, continues to perform exceptionally
Our home market, the UAE, continues to perform exceptionally UAE’s economy remains resilient Performing exceptionally on all economic fronts GDP Growth Forecast UAE PMI The UAE economy is forecast 7.9% to grow 3% in 2023 and 4% UAE’s in 2024, driven by the non- Expansion Non-oil GDP showed a oil sec
Slide 11: Remittances: 2023
Remittances: 2023 Outward Personal Remittances- Value of Transactions (AED bn) Operating Income (AED mn) 47.4 Transactions (‘000) 737 41.2 41.2 677 -8.1% 35.7 Top 5 13,504 Corridors 12,158 -10% Others 4,163 6.2 5.5 4,412 6% Personal Corporate Total 2022 2023 2022 2023 2022 2023 Outward Personal No.
Slide 12: Bank Notes & Prepaid Cards: 2023
Bank Notes & Prepaid Cards: 2023 Operating Income Bank Notes Value of Transactions Bank Notes No. of Transaction (AED mn) (AED bn) (mn) 14.3% 364 82.6 8.3 2022 2023 72.2 14.3% 7.8% 51.4 7.1 17.5% 338 14.2% 45.0 31.1 27.3 2022 2023 Retail Wholesale Total 2022 2023 No. of Transactions for Major Prepai
Slide 13: WPS and Other Products & Services: 2023
WPS and Other Products & Services: 2023 CashTrans WPS Operating Income (AED mn) Other Products & Services (AED mn) (End-to-end cash management) 65.64 No. of external customers 25.61 40 59.10 11.1% 20.54 24.7% 110% 19 2022 2023 2022 2023 2022 2023 Bill Collection No. of Transactions CashTrans No. of
Slide 14: Balance Sheet Overview
Balance Sheet Overview % Commentary Dec‘23 Dec‘22 change • The increase in Right of Use assets by 36.9% can be attributed to two factors: the renewal of the Head Office lease for an additional six Right of use assets 92,031 67,235 36.9% years (with a related party) and the inclusion of new branches
Slide 15: Capex-light Business Model, Easy to Scale
Capex-light Business Model, Easy to Scale and Able to Deliver Strong Growth and Value to the Shareholders Current Assets and Capex(1) (AED mn) Current Liabilities (AED bn) Commentary % of Operating Total capex as Net 1.50 1.70 Majority of the current assets are composed Income 2.7% 4% ▪ 2.90 of cash
Slide 16: Dividend Policy
Dividend Policy Historical Dividends (AED mn) • Minimum Annual Dividends: • FY 2023: The Group expects to pay a dividend amount of AED 600 million for the 2023 FY, with AED 300 million that was paid in November 2023 and the remaining AED FY20 FY21 FY22 FY23e 300 million to be paid in April 2024 pend
Slide 17: Growth Strategy & Guidance
‘e) Al Ansari Financial Services
Slide 18: Clear growth strategy centered on 6 pillars
Clear growth strategy centered on 6 pillars 1 Physical Network Expansion 2 Geographic Expansion 3 Digital Innovation Growing market share in Kuwait Smart 80% of remittance and entering other attractive counters in market in 2027 is GCC markets branches expected to still be Continued investment Secur
Slide 19: Clear growth strategy centered on 6 pillars
Clear growth strategy centered on 6 pillars Corporate Cross-border 4 Margin Increases 5 remittances 6 CashTrans c.370K SMEs active in the UAE Planned and ongoing Scope to increase margins investments for central given the quality of the services, market leadership 190K warehouses, position and growi
Slide 20: Short to Mid Term Guidance
Short to Mid Term Guidance Item Target (annual growth rate unless Time Horizon otherwise stated) Branch Network 300 total no. of physical branches Mid-term Remittance Income Lower single digit growth Short–term Low–to–mid teens Mid-term Bank Notes Income High teens Short–term WPS and other products
Slide 21: Thank You
© AtansariF inancial Services ) Thank You )
Al Ansari Financial Services PJSC — FY2023 Earnings Presentation on 6ix