Al Ansari Financial Services Pjsc · DFM:ALANSARI
Al Ansari Financial Services Pjsc — FY2024 Earnings Presentation
28 slides from Al Ansari Financial Services Pjsc's earnings presentation, 2025
Slide 1: FY 2024 Financial Results Presentation
FY 2024 Financial Results Presentation
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 Mohammad Bitar Faisal Anwar Dana Khalaf Group Senior Manager – Investor Deputy Group Chief Executive Officer Group Chief Financial Officer Relations 3
Slide 4: Table of Contents
01 Q4 2024 and FY24 Highlights • Key Highlights • Quarter to Quarter Journey • Financial & Operating Performance Snapshots 02 Business Highlights • Revenue Contribution • Market Analysis • Remittances • Bank Notes & Prepaid Cards • WPS and Other Products & Services CONTENTS 03 Financial Highlights •
Slide 5: Q4 2024 & FY24 Highlights
Q4 2024 & FY24 Highlights 01 Q4 2024 Key Highlights 02 Quarter to Quarter Journey 02 FY24 Financial & Operating Performance Snapshot
Slide 6: Q4 2024 Key Highlights
Q4 2024 Key Highlights • Operating Income increased by 9% YoY to AED 294m, attributed to an increase in the Remittances business • EBITDA dropped by 2% YoY to AED 122 million with an EBITDA Margin of 41% due to an increase in cost • Net profit after tax declined by 9% YoY to AED 97 million due to th
Slide 7: Quarter to Quarter Journey
Quarter to Quarter Journey Excluding one-off Iraq Income 300 1% 303 294 4% -6% 292 -1% 288 2% 288 285 6% -3% 275 275 9% -6% 268 3% 263 260 3% Operating Income (AED’mn) Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 • Q4’22 - Q3’23: There is a downward trend witnessed in oper
Slide 8: FY24 Financial Snapshot
FY24 Financial Snapshot Reported Financial Performance (AED) Adjustments to EBITDA Net Profit After Tax EBITDA AED‘000 Q4’24 Q4’23 % change FY24 FY23 % change 406 mn 510 mn Reported EBITDA 121,721 124,289 (2.1%) 510,302 563,156 (9.4%) Reported EBITDA Margin 41.4% 46.2% 44.4% 49.7% Rep FY23: 563 mn (
Slide 9: FY24 Operating Performance Snapshot
FY24 Operating Performance Snapshot As of 31 December 2024 50.0 mn 267 Total number of Number of physical transactions branches +2% vs. FY23 11 net new branches since Dec’23 8.4 mn 9.8 mn WPS – Number of Bank Notes – Number salary disbursals of transactions +16% vs FY23 +3% vs. FY23 23% 23% Outward
Slide 10: Business Highlights
• Revenue Contribution • Market Analysis Business Highlights • Remittances • Bank Notes & Prepaid Cards • WPS and Other Products & Services
Slide 11: Revenue Contribution
Revenue Contribution FY23 FY24 Others Others WPS WPS + 13% 2% + 13% 3% 6% 6% Bank Bank Notes Notes Remittances - 2% Remittances + 2% 32% 31% 60% 60% % Growth in Revenue 11
Slide 12: Our home market, the UAE, continues to remain robust despite global headwind
Our home market, the UAE, continues to remain robust despite global headwind UAE Economy Remains Resilient on All Fronts c. 4.5% c. 5.0% c. 3.0% Encouraging Overall UAE GDP UAE Non-oil Growth in Total Macro Growth Expected GDP Growth UAE Population (2025) Expected (2025) (2024) Robust c. 92mn c. 29m
Slide 13: Remittances: FY24
Remittances: FY24 Worldwide Cash Express (“WWCE”) Operating Income (AED’mn)* Operating Income (AED’000) Yearly Movement Quarter Movement 2,851 687 677 9% 2% 632 155% 174 156 12% 154 13% 1,116 FY23 FY23 (adj) FY24 Q4'23 Q4'23 (adj) Q4'24 FY23 FY24 Outward Remittances – Value (AED’bn) Digital vs. Face
Slide 14: Bank Notes: FY24
Bank Notes: FY24* Operating Income (AED’mn) Yearly Movement Quarter Movement 364 358 94 -2% 90 1% 91 -3% FY23 FY24 Q4'23 Q3'24 Q4'24 Bank Notes Value of Transactions (AED’bn) Bank Notes No. of Transactions (‘mn) -11% 85 75 -18% 9.5 3% 9.8 -1% 51 42 33 33 Retail Wholesale Total FY23 FY24 FY23 FY24 Ba
Slide 15: WPS and Other Products & Services: FY24
WPS and Other Products & Services: FY24 CashTrans Other Products & Services WPS Operating Income (AED’mn) (End-to-end cash management) Operating Income (AED’mn) Operating Income (AED’mn) * 74 13% 66 29 13% 26 21 28% 17 FY23 FY24 FY23 FY24 FY23 FY24 WPS Salary Disbursals (‘000) Bill Collection No. of
Slide 16: Financial Highlights
Financial Highlights • Income Statement Overview • Balance Sheet Overview • Capex Business Model
Slide 17: Income Statement Overview
Income Statement Overview AED‘000 Q4’24 Q4’23 % change FY24 FY23 % change Commentary Net gain on currency exchange 143,885 129,809 10.8% 547,819 541,678 1.1% • Net gain on currency exchange saw a slight increase of 1.1% YoY mainly due to increase in exchange gain on remittances and travel cards on a
Slide 18: Balance Sheet Overview
Balance Sheet Overview AED ‘000 Dec‘24 Dec’23 % Change Commentary Right of use assets 95,868 92,031 4.2% • The increase in Right of Use assets by 4.2% can be attributed to addition of new branch locations and the renewal of lease contracts expired during the year Property and Equipment 73,946 71,926
Slide 19: Capex-light Business Model, Easy to Scale and Able to Deliver Strong Growth
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 Total capex as Net 1.7 1.6 % of Operating 4.0% 2.8% Income ▪ Majority of the current assets are composed of 2.9 3.0 4
Slide 20: Dividend Policy
Dividend Policy • Dividend Policy
Slide 21: Dividend Policy
Dividend Policy Dividend Policy: • The Group expects to pay (on a semi-annual basis in April and October of each year) a minimum dividend of 70% of the net profit after tax generated Dividend Distribution: • 2024: The Group expects to pay a dividend amount of AED 315 million for FY24, with AED 157.5
Slide 22: Growth Strategy
Growth Strategy • 6 Pillar Strategy
Slide 23: Clear Growth Strategy Centered on 6 Pillars
Clear Growth Strategy Centered on 6 Pillars 1 Physical Network Expansion 2 Geographic Expansion 3 Digital Innovation Smart 80% of remittance market in Growing market share in Kuwait counters in 2027 is expected to still be and entering other attractive Continued investment branches face-to-face GCC
Slide 24: Clear Growth Strategy Centered on 6 Pillars (continued)
Clear Growth Strategy Centered on 6 Pillars (continued) 4 Revenue Optimisation 5 Corporate Cross-border Remittances 6 CashTrans Scope to increase margins c. +550k* given the quality of the services, SMEs active in the UAE Planned and ongoing market leadership position and investments for central gro
Slide 25: Guidance
Guidance • Short to Mid Term Guidance • Key Takeaways
Slide 26: Short to Mid Term Guidance
Short to Mid Term Guidance* Target Item Time Horizon (annual growth rate unless otherwise stated) Branch Network 300 total no. of physical branches Mid-term Single digit growth Short–term Remittance Income Low to mid teens Mid-term Single digit growth Short–term Bank Notes Income Low to mid teens Mi
Slide 27: Key Focus Areas for FY25
Key Focus Areas for FY25 Expand product offerings and enhance digital platforms Foster new strategic partnerships and alliances Assess strategic market acquisitions in the GCC and beyond Margin Improvement and cost optimisation initiatives Enhance employee engagement and upskilling staff Assess inve
Slide 28: Thank you
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