Mezzan Holding Company Kscc · KSE:MEZZAN
Mezzan Holding Company Kscc — Mezzan Holding Company — Q3 2021 Earnings Presentation
17 slides from Mezzan Holding Company Kscc's earnings presentation, Nov 15, 2021
Slide 1: Q3 2021 Earnings Presentation
Q3 2021 Earnings Presentation November 15, 2021 1
Slide 2: Disclaimer
Disclaimer This con dential document is provided for informational purposes only. THE INFORMATION SET OUT IN THIS PRESENTATION AND PROVIDED IN THE DISCUSSION SUBSEQUENT THERETO DOES NOT CONSTITUTE AN OFFER OR SOLICITATION OF AN OFFER TO BUY OR SELL SECURITIES IN ANY JURISDICTION. IT IS SOLELY FOR US
Slide 3: Agenda
Agenda Tailwinds & Headwinds Q3 2021 Highlights Historical Performance Financial Review Q&A 3
Slide 4: Mezzan Today: Tailwinds
Mezzan Today: Tailwinds ➜ ➜ ➜ Continued strong performance versus market in Saudi, Qatar and UAE. ➜ Schools reopening - should preface a return to normal trading patterns. ➜ High stock levels should provide a recovery buffer versus the current rampant cost inflation. ➜ ➜ Completed the acquisition of
Slide 5: Mezzan Today: Headwinds
Mezzan Today: Headwinds ➜ ➜ ➜ Inflation, inflation, inflation ➜ Credit challenges and delays abound ➜ ➜ ➜ ➜➜ ➜ ➜ 5
Slide 6: Mezzan Today: Earnings Highlights
Mezzan Today: Earnings Highlights KD Millions Q3 EBITDA (2018-2021) Q3’21 Q3’20 % Diff YTD’21 YTD’20 % Diff KD Millions Revenue 57.2 60.1 -4.8% 191.2 194.4 -1.6% Q3 (July - September) Gross Pro t 11.0 15.2 -27.8% 40.5 47.1 -14% 5.6 5.2 EBITDA 5.2 5.6 -6.8% 19.6 21.4 -8.4% 4.9 Net Income 2.4 2.6 -6.1
Slide 7: Mezzan Today: Historical Performance
Mezzan Today: Historical Performance KD Millions Q3 Revenue Q3 Gross Profit Q3 Net Profit 60.1 15.2 54.8 57.2 2.3 52.0 12.4 2.1 10.4 11.0 1.8 1.2 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 7
Slide 8: Financial Review
Financial Review 8
Slide 9: YTD'21 Revenue: Contribution by Business Line
YTD’21 Revenue: Contribution by Business Line FOOD REVENUE -4.1% NON-FOOD REVENUE +3.3% Vs.YTD’20 Vs.YTD’20 65.0% Share of of total Group 35.0% Share of of total Group Revenue Revenue 9
Slide 10: YTD'21 Revenue: Growth by Business Division
YTD’21 Revenue: Growth by Business Division Vs.YTD’20 Manufacturing FOOD &Distribution 47.8% of Group revenue +2.1% -4.1% Catering 12.0% of Group revenue -13.6% -1.6% Services 5.2% of Group revenue -26.3% NON-FOOD FMCG & +3.3% Healthcare 32.9% of Group revenue +1.9% Industrials 2.2% of Group revenue
Slide 11: YTD'21 Revenue: Contribution and Growth by Country
YTD’21 Revenue: Contribution and Growth by Country Top-line Contribution Vs.YTD’20 Kuwait UAE Qatar KSA Jordan Afghanistan Iraq 74.0% 11.8% 7.7% 2.2% 2.8% 0.4% 1.0% -2.2% +18.0% -4.8% +12.2% +19.9% -82.1% -6.5% 11
Slide 12: YTD'21: P&L
YTD’21: P&L KD Millions Q3’21 Q3’20 % Di YTD’21 YTD’20 % Di Revenue 57.2 60.1 -4.8% 191.2 194.4 -1.6% Gross Margin 11.0 15.2 -27.8% 40.5 47.1 -14.0% GM % 19.2% 25.3% 21.2% 24.2% SG&A / Other -7.9 -11.8 33.3% -27.4 -32.4 15.4% Operating Pro t 3.1 3.4 -8.3% 13.1 14.7 -11.1% Other -0.5 -0.7 27.5% -1.7
Slide 13: YTD'21: Cashflow
YTD’21: Cashflow KD Millions YTD’21 YTD’20 Di Operating cash ow before WC changes 21.2 24.8 -3.6 Working capital -3.5 6.1 -9.6 Lower operating Operating cash ow 17.8 30.9 -13.2 cash ow driven by Capital -8.3 -4.5 -3.7 lower net pro t and increase in working Cash ow before Financing 9.5 26.4 -16.9 ca
Slide 14: Balance Sheet as of Sep 30, 2021
Balance Sheet as of Sep 30, 2021 KD Millions Total Assets Equity Net Debt Net Debt to Capitalization KD Millions KD Millions KD Millions % 266.8 260.1 121.1 121.4 75.4 41.0% 253.2 118.8 113.2 223.8 56.7 32.0% 31.0% 53.4 30.0% 45.8 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019
Slide 15: A note on debt levels
A note on debt levels KD Millions Mar-18 Jun-18 Sept-18 Dec-18 Mar-19 Jun-19 Sept-19 Dec-19 Mar-20 Jun-20 Sept-20 Dec-20 Mar-21 June-21 Sep-21 Net debt Net Debt/EBITDA(LTM) 15
Slide 16: 6A
6A
Slide 17: Investor Relations Contact
Investor Relations Contact omar.fouda@mezzan.com
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