Qala For Financial Investments · EGX:CCAP
Qala For Financial Investments — Qalaa Holdings — FY2021 Earnings Presentation
36 slides from Qala For Financial Investments's earnings presentation, May 2022
Slide 1: Qalaa Holdings Investor Presentation
Qalaa Holdings Investor Presentation AFRICAN LEADER IN INFRASTRUCTURE & INDUSTRY May 2022 Strictly Private and Confidential All Figures as of FY21 Unless Otherwise Stated
Slide 2: Contents
Contents I Overview 3-8 Industries & Companies 9-28 II III Highlights 29-36 2
Slide 3: Overview
Overview AFRICAN LEADER IN INFRASTRUCTURE & INDUSTRY
Slide 4: Qalaa Holdings at a Glance
Qalaa Holdings at a Glance Consolidated Income Statement Highlights FY21 Revenues of EGP 45,826.1 mn vs. EGP 35,950.8 mn in FY20 Leading investment company in energy and infrastructure, established in 2004 FY21 EBITDA* of EGP 4,131.9 mn vs. EGP 1,485.1 mn in FY20 FY21 Net Loss after Minority Interes
Slide 5: Qalaa Holdings Ownership Structure and Share Information
Qalaa Holdings Ownership Structure and Share Information Shareholder Structure (as at 31 March 2022) EIIC, 5.5% Olayan, 9.1% CCAP.CA on the EGX Dubai Holding, 3.8% CIB, 2.9% Number of Shares 1,820,000,000 Of which preferred shares** 401,738,649 CCP, 23.5%* Of which common shares 1,418,261,351 Paid-i
Slide 6: African Leader in Infrastructure and Industry
African Leader in Infrastructure and Industry Qalaa Holdings’ operations span a diverse geographic footprint, where it is helping build businesses in the core industries that will define the region’s future. Leadership in Core Industries Across MEA Deep Regional Experienced and Knowledge, Strong Ded
Slide 7: Core Industries at a Glance
Core Industries at a Glance Packaging & Transportation Energy Cement Mining Agrifoods Printing & Logistics 82% 7% 6% 2% 2% 1% of Consolidated Revenues in FY21 of Consolidated Revenues in FY21 of Consolidated Revenues in FY21 of Consolidated Revenues in FY21 of Consolidated Revenues in FY21 of Consol
Slide 8: Industries & Companies
Industries AFRICAN LEADER IN & Companies INFRASTRUCTURE & INDUSTRY
Slide 9: Overview of Subsidiaries
Overview of Subsidiaries Industry Slide Number Energy 11 Cement 15 Packaging & 17 Printing Mining Agrifoods 19 21 Transportation & Agrifoods 23 22 Logistics Transportation & 24 Logistics 9
Slide 10: Energy
Energy
Slide 11: Energy Overview
Energy Overview The Energy Industry is Supported by Strong Macro Energy at Qalaa Holdings Fundamentals • To keep pace with projected economic growth and provide The region’s energy-intensive much-needed energy capacity in the region, Qalaa Holdings has Region-wide, trends are towards industries are
Slide 12: ERC
ERC Company Overview Reached Starting Total debt of 25-year Among the Designed to The project will financial close January USD 2.7 bn supply & off- largest-ever produce 4.7 reduce Egypt’s The Egyptian in June 2012 2020, ERC and total take non-recourse MTPA of present-day Refining Company is has been
Slide 13: TAQA Arabia
TAQA Arabia Company Overview TAQA Arabia Financials 4 7.4 TAQA Arabia Consolidated BCM Revenues | EGP mn Concessions TAQA Arabia is Egypt’s largest private Distributed covering 7 governorates in FY21 sector energy distribution company. The TAQA company’s three arms cover: gas EPC* & 55.9% Gas owned
Slide 14: Cement
Slide 15: Cement
Cement ASEC Cement* Construction Technical Management Zahana Cement Al Takamol Cement ARESCO ASEC Automation ASEC Engineering ASENPRO (Algeria) 55% 35% 100% 100% 100% 100% ASEC Cement currently has two international ARESCO is a turnkey contractor specializing in ASEC Engineering provides cement plan
Slide 16: Packaging & Printing
Packaging & dad Printing L_
Slide 17: Packaging and Printing
Packaging and Printing Building Capacity in Packaging and Printing Through its subsidiary National Printing Company, Qalaa Holdings has invested in the printing and packaging sector with investments of over USD 60 million to date. Company Overview National Printing Company has four subsidiaries: Sho
Slide 18: Mining
Mining
Slide 19: ASCOM
ASCOM Company Overview Mining Sector Footprint From quarrying for the cement industry to the manufacture of world-class technical calcium carbonate and environmentally 54.1% friendly building materials, Qalaa Holdings’ approach in the owned by QH mining sector focuses on investing in the entire valu
Slide 20: ASCOM (cont'd)
ASCOM (cont’d) ASCOM Financials ASCOM Revenues | EGP mn ACCM revenues of USD 35.7 mn 937.7 821.6 in FY21, a 54% y-o-y increase FY20 FY21 ASCOM EBITDA* | EGP mn GlassRock revenues of USD 9.2 mn 12.8 mn tons sold 369k tons sold by by Egypt’s 85.1 ACCM in FY21, up Quarrying Business 52.0 in FY21, a 19%
Slide 21: Agrifoods
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Slide 22: Gozour
Gozour Increasing Our Milk Volumes Company Overview Qalaa Holdings’ investments in agrifoods aim to overcome challenges facing the agricultural and food production sector 54.9% in Egypt and the region. Through its subsidiary, Gozour, the owned* by QH Group operates Dina Farms and ICDP (Dina Farms’ f
Slide 23: Transportation & Logistics
Transportation & Logistics
Slide 24: Nile Logistics
Nile Logistics Transporting Goods Efficiently and Economically Company Overview Footprint Alexandria Port Said Arish Damietta Dekheila East Port Said 67.6% owned* by QH Suez Petroleum Dock Nuweiba Adabiya Nile Logistics is a leading logistics service Sokhna provider in Egypt, and South Sudan, using
Slide 25: Nile Logistics (cont'd)
Nile Logistics (cont’d) Stevedoring The company also runs stevedoring (loading/offloading) activities in seaports The company offers services in three locations: Stevedoring services The company handles around Dekheila, Alex around 1.2 mn tons of Port and Adabiya Suez coal/pet coke per year Port Sto
Slide 26: Nile Logistics (cont'd)
Nile Logistics (cont’d) 100k tons warehouse storing capacity (with an estimated 6-7 rounds per annum) Grain storage warehouse – Nubareya GSW interior – Nubareya Grain storage warehouse – Nubareya 26
Slide 27: Highlights
Highlights AFRICAN LEADER IN INFRASTRUCTURE & INDUSTRY
Slide 28: EBITDA Progression
EBITDA Progression RECURRING EBITDA Consolidated Recurring EBITDA Progression Chart* (EGP mn) PROGRESSION Consolidated EBITDA Consolidated EBITDA ex- ERC (EGP mn) 4,131.9 2,086 1,205 2,085.9 253.4 1,485.1 762 750 4Q20 4Q21 FY20 FY21 626 320 357 329 303 328 367 290 454 521 510 90 329 290 303 328 320
Slide 29: Debt Progression
Debt Progression Debt Progression Chart (EGP bn) As at 31 December 2021 45.00 42.75 40.00 ERC’s debt stands at c.EGP 42.8 November 2016: EGP floatation billion (equivalent of c.USD 2.7 35.00 billion), contributing c.69% of the total debt 30.00 EGP Billion 25.00 20.00 QH’s SPVs debt related to financ
Slide 30: Financial Highlights – FY21 Consolidated Income Statement
Financial Highlights – FY21 Consolidated Income Statement 30
Slide 31: Financial Highlights – Consolidated Income Statement for the year-ended 31 Dec. 2021
Financial Highlights – Consolidated Income Statement for the year-ended 31 Dec. 2021 31
Slide 32: Financial Highlights – Consolidated Balance Sheet as at December 2021
Financial Highlights – Consolidated Balance Sheet as at 31 December 2021 32
Slide 33: Effective Ownership & Paid-in Capital Highlights
Effective Ownership & Paid-in Capital Highlights Paid-in Capital Qalaa Holdings Ownership Stakes (EGP bn) 55.9% TAQA 2005 0.002 2006 0.9 68.1% Tawazon 2007 1.7 13.1% ERC 2008 2.8 69.3% 2009 3.3 ASEC Holding 2010 3.3 54.9% 2011 4.4 Gozour 67.6% 2012 4.4 Nile Logistics 2013 4.4 54.1% 2014* 8.0 ASCOM 2
Slide 34: Board of Directors
Board of Directors Executive Board Members Non-Executive Board Members (Representing CCP) Ahmed Heikal Magdy El Desouky Hisham El-Khazindar Philip Blair Dundas (Independent) Karim Sadek Mona Makram Ebdeid (Representing CCP) Moataz Farouk Dina Sherif (Independent) 34
Slide 35: Important Notice
Important Notice Important Notice/Disclaimer This investor presentation (the “Presentation”) is being furnished on a confidential basis to a limited number of sophisticated investors and shareholders for informational and discussion purposes only and does not constitute an offer to sell or a solicit
Slide 36: Thank You
Thank You Amr El-Kadi Nora Ghannam Head of Investor Relations Investor Relations Manager Tel: +20 (0) 2 2791-4440 Tel: +20 (0) 2 2791 4440 Dir: +20 (0) 2 2791-4462 Dir: +20 (0) 2 2791-4458 Fax: +20 (0) 2 2791-4448 Fax: +20 (0) 2 2791-4448 E-mail: akadi@qalaaholdings.com E-mail: nghannam@qalaaholding