Slide 1: Mutandis FY 2021 Results
MUTANDIS FY 2021 RESULTS February 2022
Slide 2: Disclaimer
DISCLAIMER Certain information included in this document has been prepared by the company, and has not been verified or audited by independant sources. This presentation contains also forecasts based on opinions and present assumptions related to future events. These forecasts reflect projections an
Slide 3: Agenda
AGENDA 1 | 2021 key events 2 | FY 2021 consolidated financial results 3 | 2022 Outlook 4 | 2022 corporate calendar Septembre 2021| 3
Slide 4: 2021 Key Events
1 2021 KEY EVENTS Septembre 2021| 4
Slide 5: 2021: What to keep in mind?
2021: WHAT TO KEEP IN MIND? Higher revenues and stable EBITDA Higher revenues, thanks to the Season brand contribution (5 months of revenues) ; Lower margin on raw material costs on almost all ranges due to the worldwide increase of raw material prices ; Slightly higher amortization expenses d
Slide 6: 2021 Consolidated Financial Results
2 2021 CONSOLIDATED FINANCIAL RESULTS Septembre 2021| 6
Slide 7: Financial Key Messages
FINANCIAL KEY MESSAGES F I N A N C I A L S N A PS H OT Higher revenues and lower margins on variable costs due to prices increase of certain raw materials Revenue EBITDA In MAD million In MAD million 2021 1 685 2021 224 +21% -1% 2020 1 396 2020 225 Recurring Net Income Net Income In MAD million In M
Slide 8: Financial Indicators: Focus on revenues
FINANCIAL INDICATORS Focus on revenues H2 Consolidated revenues breakdown In MAD million 21% 1 685 1 396 FY consolidated revenues are MAD 1 685 621 million, +20,7% compared to 2020 (+6% at -42 constant scope) ; 663 5 months of the Season brand contribution 514 in the USA. 26 488 275 95 69 180 6
Slide 9: Financial Indicators: consolidated EBITDA breakdown
FINANCIAL INDICATORS H2 consolidated EBITDA breakdown H2 consolidated EBITDA breakdown In MAD million -0,6% 225 224 Consolidated EBITDA is MAD 224 million, stable compared to 2020 ; 96 132 Lower margin on variable costs on almost all -36 ranges due to prices increase of certain raw 54 materials.
Slide 10: Results by Product Range: Detergents
RESULTS BY PRODUCT RANGE Detergents In MAD million In MAD 2020 2021 % million Revenues 662,8 621,2 -6,3% EBITDA 132,0 95,8 -27,4% Slight decline of own brands (-4%), due to an exceptional year 2020 boosted by an ovenrconsumption of detergents ; Lower margin on variable costs due to raw material
Slide 11: Results by Product Range: Seafood
RESULTS BY PRODUCT RANGE Seafood In MAD million In MAD 2020 2021 % million Revenues 488,4 514,0 +5,2% EBITDA 54,8 53,9 -1,7% Mackerel and sardine cans sales are down -3% vs 2020 (-4% in volumes), mostly due to supply problems from traditional coastal fisherman in Q2 and Q3 ; Higher catches for o
Slide 12: Results by Product Range: Beverage bottles
RESULTS BY PRODUCT RANGE Beverage bottles In MAD million In MAD 2020 2021 % million Revenues 179,6 274,9 +53,1% EBITDA 39,9 48,6 +21,7% Higher revenues for beverage bottles, +53,1% vs 2020 (+16% in volumes). The high rebound is due to: - A progressive health restrictions lifting (compared to 2020
Slide 13: Results by Product Range: Fruit juices
RESULTS BY PRODUCT RANGE Fruit juices In MAD million In MAD 2020 2021 % million Revenues 63,5 69,3 +9,1% EBITDA 6,9 7,5 +8,0% Higher juices revenues (+9%), in Morocco, for exports and also for airline companies (boundaries reopening) ; Higher EBITDA (+8,0%). Septembre 2021| 13
Slide 14: Results by Product Range: Season
RESULTS BY PRODUCT RANGE Season In MAD million In MAD 2021 (5 2020 % million months) Revenues 204,5 N/A EBITDA 29,2 N/A 5 months of the Season brand contribution, in line with our forecast. Septembre 2021| 14
Slide 15: Financial Indicators: Recurring Net Income
FINANCIAL INDICATORS Recurring Net Income In MAD million -3,7% 2021 Recurring Net Income : MAD 77 million (-4%) 80 77 -1 0 -6 4 Stable EBITDA ; Higher amortization expenses due to the development programs started since 2019 and offset by lower provisions allocations ; Higher interest expenses
Slide 16: Switch from Recurring Net Income to Net Income
FINANCIAL INDICATORS Switch from Recurring Net Income to Net Income 2021 Net Income is MAD 60 million, non recurring items are detailed as follows: In MAD million Recurring net income 77 Tax penalties -4 Social solidarity contribution -3 M&A -3 Disputes -2 Revaluations of non-strategic assets -2 Oth
Slide 17: 2022 Outlook
3 2022 OUTLOOK Septembre 2021| 17
Slide 18: 2022 Outlook: Guidance
2022 OUTLOOK Guidance 2022 should show a strong increase in revenues, in particular thanks to Season contribution over a full year The gradual prices increase should allow a gradual return to normative margins by the end of 2022 Septembre 2021| 18
Slide 19: 2022 Corporate Calendar
4 2022 CORPORATE CANLENDAR Septembre 2021| 19
Slide 20: 2022 Corporate Calendar
2022 CORPORATE CALENDAR Feb. 25 Ap. • FY 2021 results publication 01 Ap. • General Meeting 02 • Q1 2022 Financial results publication May. 01 Jul. • Dividend distribution 01 • Q2 2022 Financial results publication Agst. 05 • H1 2022 Financial results publication and analysts’ 03 Sept. conference sep