Slide 1: 2022 Annual Financial Results presentation
to a presentation of our 2022 Annual Financial Results Following our SENS announcement at approximately 08h00 this morning, the investor presentation will be uploaded to the website. A link to download the presentation will be mailed to all who have previously confirmed attendance in person, via liv
Slide 2: Cover tbc
, WR, WR SNUG ot PORT TERMINALS LOGISTICS
Slide 3: Safety: our priority
S A F E T Y F IR S T Safety Our priority SHERQ 2022 2021 Target Fatality nil nil nil LTI 16 19 nil LTIFR 0.34 0.41 <=0.5 GRINDROD LIMITED Provisional reviewed results and dividend announcement for the year ended 31 December 2022 Drybulk terminal I MATOLA
Slide 4: Xolani Mbambo
GRINDROD LIMITED Provisional reviewed results and dividend announcement for the year ended 31 December 2022 Project logistics I GQEBERHA XOLANI MBAMBO
Slide 5: Macro context: Dynamic operating environment
O V E R V IE W A N D H IG H L IG H T S Macro context I Dynamic operating environment GLOBAL STRONG COMMODITY PERFORMANCE § Geopolitical risk between China and Japan § Ukraine war - scramble for fossil fuel / energy 122% Coal Coal(API4, (API4, US$ US$ / t) 90% § US federal reserve pressure § Winter -
Slide 6: Performance highlights: Strong growth
O V E R V IE W A N D H IG H L IG H T S Performance highlights I Strong growth Operational Social Shareholder Record drybulk Taxes and Core headline volumes social contribution earnings 23% 37% 37% 16 million tonnes R0.4 billion R1.1 billion Record port Human Dividends to volumes capital shareholders
Slide 7: Xolani Mbambo
GRINDROD LIMITED Provisional reviewed results and dividend announcement for the year ended 31 December 2022 Port I MAPUTO XOLANI MBAMBO
Slide 8: Port and Terminals: 2022 highlights
P O R T A N D T E R M IN A L S Port and Terminals I 2022 highlights Maputo port volumes grew 29% to 9.8 mt § Successfully commissioned six berths § Implementation of 24-7 border operations Grindrod drybulk terminals volumes handled increased 23% § Matola volume was 8.1 mt § Maputo terminal volume si
Slide 9: Port and Terminals: Performance highlights
P O R T A N D T E R M IN A L S Port and Terminals I Performance highlights Port volumes Terminals volumes (mtpa) (mtpa) 16.0 CAGR 30% 13.0 8.4 9.8 9.4 CAGR 20% 7.6 8.0 6.8 5.3 H2 5.0 3.9 H2 3.7 7.5 4.4 5.0 4.5 H1 3.8 H1 3.1 2020 2021 2022 2020 2021 2022 GRINDROD LIMITED Provisional reviewed results
Slide 10: Xolani Mbambo
GRINDROD LIMITED Provisional reviewed results and dividend announcement for the year ended 31 December 2022 Rail I TSHWANE XOLANI MBAMBO
Slide 11: Logistics: 2022 highlights
L O G IS T IC S Logistics I 2022 highlights § Successful completion of the Maersk joint venture § Coastal shipping and container depot businesses recovered exceptionally following floods in KwaZulu-Natal - Underpinned by strong container handling performance - Higher shipping rates as a result of fa
Slide 12: Xolani Mbambo
GRINDROD LIMITED Provisional reviewed results and dividend announcement for the year ended 31 December 2022 North Coast properties I DURBAN XOLANI MBAMBO
Slide 13: Non-core: Overview
N O N -C O R E Non-core I Overview PRIVATE EQUITY The private equity portfolio exit is largely complete LAND Efforts to recover loans and advances to North Coast property companies are progressing MARINE FUELS Business is profitable - benefitting from the healthy fuel margins in line with strong oil
Slide 14: Finance: Fathima Ally
FINANCE GRINDROD LIMITED Provisional reviewed results and dividend announcement for the year ended 31 December 2022 Drybulk terminal I RICHARDS BAY FATHIMA ALLY
Slide 15: Segmental income statement from continuing operations
2 0 2 2 R E S U LT S Segmental income statement from continuing operations Rmillion 2022 2021 * VAR (%) Comments Revenue 24 360 17 550 39 Core operations 7 405 4 683 58 Volume growth Non-core operations 16 955 12 867 32 Oil price increase Trading profit 1 917 1 524 26 Core operations 2 174 1 646 32
Slide 16: Financial highlights: Healthy earnings growth
2 0 2 2 R E S U LT S Financial highlights I Healthy earnings growth Port and Terminals Logistics Core 2022 FY 2021 FY 2022 FY 2021 FY Rmillion Rmillion Rmillion Rmillion Revenue 3 713 1 413 3 635 3 242 EBITDA 1 151 580 1 315 895 EBITDA margin * 31% 41% 36% 28% Headline earnings 822 389 636 243 Retur
Slide 17: Segmental balance sheet
2 0 2 2 R E S U LT S Segmental balance sheet Dec Dec Rmillion 2022 2021 Comments Property, plant and equipment 3 119 3 144 Capex and exchange rate net of scrapping due to KZN floods and transfers to held for sale Right of use asset 1 129 1 441 Depreciation and transfers to held for sale partly offse
Slide 18: Legal net debt reconciliation
2 0 2 2 R E S U LT S Legal net debt reconciliation Rmillion (677) 451 182 1 688 (623) 544 (135) (182) (2 739) 1 557 (247) December Exclude Disposal Cash Net cash Interest / Investment Proceeds Non-cash December 2021 loans, of Bank received generated dividends / outflows and on disposal movement 2022
Slide 19: Legal net debt based on operational cash
2 0 2 2 R E S U LT S Legal net debt based on operational cash Total debt analysis Dec Dec Rmillion Rmillion 2022 2021 * 3 164 Total debt 2 788 3 164 2 788 Less: operational cash ^ (1 456) (952) 540 Net debt 1 332 2 212 411 Net debt to equity ratio (%) 15 26 * Excludes Bank 1 040 ^ Excludes cash of R
Slide 20: Financial performance: Segmental basis
2 0 2 2 R E S U LT S Financial performance I Segmental basis Core businesses Non-core 1.92 0.92 NAV Headline * 2022 2021 operations (Rand / earnings Return Return Division share) (Rand / share) on equity * on equity ^ Total core 9.27 1.92 21% 13% businesses 1.82 * Excludes impairment on the preferen
Slide 21: Xolani Mbambo
GRINDROD LIMITED Provisional reviewed results and dividend announcement for the year ended 31 December 2022 Logistics I JOHANNESBURG XOLANI MBAMBO
Slide 22: Portfolio of commodities: Diversification remains imperative
OUTLOOK Portfolio of commodities I Diversification remains imperative Chrome / Ferrochrome Magnetite / Iron ore Coal GRINDROD LIMITED Provisional reviewed results and dividend announcement for the year ended 31 December 2022
Slide 23: Delivering on the strategy: Growth opportunities
OUTLOOK Delivering on the strategy I Growth opportunities Port and Terminals Matola sustaining capital expenditure Manganese Private sector participation Logistics Rail - open access and partnerships East Africa footprint Northern Mozambique LNG Container depot development projects Provide solutions
Slide 24: Macro economic environment: Economic complexities
OUTLOOK Macro economic environment I Economic complexities GLOBAL ECOMONY WORLD ECONOMIC OUTLOOK § High inflation and risk of recession January 2023 § A third of global economy to experience negative growth Region F2023 § China’s economy and its importance for global supply chains Global economy 2.9
Slide 25: Next phase of value delivery
OUTLOOK Next phase of value delivery Driven by our purpose – to make a positive difference in Africa’s trade with the world, touching lives of the communities in which we operate Our strategic pillars CUSTOMER OUR PEOPLE AND COMMUNITIES MARKET DIFFERENTIATION OPERATIONAL EXCELLENCE REVENUE GROWTH SH
Slide 26: For more information contact
For more information contact Fathima Ally P +2731 302 7575 E fathima.ally@grindrod.com PORT TERMINALS LOGISTICS GRINDROD
Slide 27: Port, Terminals, Logistics
PORT TERMINALS LOGISTICS ‘ew GRINDROD
Slide 28: Terminals: capacity and utilisation
T E R M IN A L S C A PA C IT Y A N D U T IL IS AT IO N Terminals H1 H2 FY FY Change Template 2022 2022 2022 2021 % capacity Drybulk (tonnes) 7 543 444 8 441 144 15 984 588 12 981 516 23 15 150 000 Matola terminal 1 2 3 848 198 4 262 502 8 110 700 8 273 036 (2) 7 300 000 Richards Bay 2 174 152 1 883
Slide 29: Port: capacity and utilisation
P O R T C A PA C IT Y A N D U T IL IS AT IO N Port H1 H2 FY FY Change Tonnes 2022 2022 2022 2021 % Own handled 1 4 523 319 5 311 954 9 835 273 7 638 362 29 Sub-concession and other 7 733 164 9 203 779 16 936 943 14 626 314 16 Port of Maputo 12 256 483 14 515 733 26 772 216 22 264 676 20 Trucks per d