Investor Presentation
Fourth QUARTER 2024
Outline
04GB Corp Overview
08GB Auto
19GB Capital
24Consolidated Financial Performance
27Key Corporate and Shareholder Information
GB Corp | Investor Presentation 4Q24 | 3 |
INVESTOR PRESENTATION | SECOND QUARTER 2021 |
GroupGroupOverviewOverview
GB Corp is a leading automotive company in the Middle East and Africa and non-bank financial services provider in Egypt. The company operates under two distinct segments: GB Auto, which operates the core automotive business and encompasses four primary lines of business across the Middle East and Africa, and GB Capital, which oversees the operations of the Group's non-bank financial service providers.
Passenger Cars | Trading (Tires & | |||
(Egypt, Iraq, and | ||||
Ready Parts) | ||||
Jordan) | ||||
Commercial Vehicles & | Two, Three, and | |||
Four-Wheelers | ||||
Construction | ||||
Equipment | (Light Mobility) |
GB Corp | Investor Presentation 4Q24
INVESTOR PRESENTATION | SECOND QUARTER 2021
GB Lease | MNT-Halan |
Drive | Forsa |
GB Auto Rental | Kredit |
Kaf | Bedaya |
Capital | GB Capital |
Securitization | Sukuk |
5
The Group has an established regional footprint with a strong portfolio of top global brands.
GB Auto
Passenger Cars
Commercial Vehicles
& Construction Equipment
Motorcycles &
Three-Wheelers
Trading
GB CAPITAL
GB Corp | Investor Presentation 4Q24 | 6 |
INVESTOR PRESENTATION | SECOND QUARTER 2021 |
Consolidated Financial Highlights
GB Corp capitalized on an improving economic environment to deliver impressive year-on-year revenue and net income growth in FY24
Revenues
GB Corp recorded consolidated revenues reached EGP 53,969.5 million in FY24, a 90.6% y-o-y increase driven by strong performances across both the Auto and Capital segments. During the quarter, revenues rose by 111.0% y-o-y and 14.4% q-o-q to EGP 18,566.0 million in 4Q24.
Gross Profit
Gross profit expanded by 52.7% y-o-y to EGP 10,514.6 million in FY24; however, GPM contracted from 24.3% to 19.5% during the year. On a quarterly basis, gross profit increased by 29.1% y-o-y and 16.3% q-o-q to EGP 3,299.0 million in 4Q24, yielding an associated GPM of 17.8% compared to 17.5% in 3Q24 and 29.0% in 4Q23.
EBIT
Similarly, GB Corp's EBIT grew 40.2% y-o-y to EGP 6,688.5 million, yielding a margin of 12.4% in FY24. In 4Q24, EBIT increased by 16.4% y-o-y to EGP 2,152.3 million, yielding a contracted margin of 11.6%.
Net Profit
GB Corp's net profit rose by 54.8% y-o-y to EGP 2,928.1 million in FY24, delivering an associated NPM of 5.4% versus 6.7% in FY23. Meanwhile in 4Q24, net profit expanded by 82.9% y-o-y and 52.0% q-o-q, reaching EGP 1,133.9 million.
Revenue (EGP mn)
8,794.8 | 18,566.0 | 28,317.2 | 53,969.5 |
4Q23 | 4Q24 | FY23 | FY24 |
EBIT (EGP mn), EBIT %
21.0% | 11.6% | 16.8% | 12.4% |
1,848.6 | 2,152.3 | 4,769.5 | 6,688.5 |
4Q23 | 4Q24 | FY23 | FY24 |
Gross Profit (EGP mn), GP %
29.0% | 17.8% | 24.3% | 19.5% |
2,555.4 | 3,299.0 | 6,884.3 | 10,514.6 |
4Q23 | 4Q24 | FY23 | FY24 |
Net Profit (EGP mn), NP %
7.1% | 6.1% | 6.7% | 5.4% |
620.1 | 1,133.9 | 1,890.8 | 2,928.1 |
4Q23 | 4Q24 | FY23 | FY24 |
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INVESTOR PRESENTATION | SECOND QUARTER 2021 |
GB Auto
GB Corp | Investor Presentation 4Q24 | 8 |
INVESTOR PRESENTATION | SECOND QUARTER 2021 |
GB Auto Key Financial Highlights
GB Auto
Revenue (EGP mn)
7,319.3 | 16,259.2 | 23,854.0 | 47,065.0 |
4Q23 | 4Q24 | FY23 | FY24 |
EBITDA (EGP mn), EBITDA %
17.6% | 10.5% | 15.9% | 12.5% |
1,291.1 | 1,701.9 | 3,794.6 | 5,880.5 |
4Q23 | 4Q24 | FY23 | FY24 |
Gross Profit (EGP mn), GP %
28.7% | 17.2% | 24.4% | 19.2% |
2,097.1 | 2,801.3 | 5,813.1 | 9,057.4 |
4Q23 | 4Q24 | FY23 | FY24 |
Net Debt (EGP mn), Net Debt / LTM EBITDA Ratio
0.77x | 0.92x | 0.90x |
2,921.8 | 5,012.1 | 5,292.0 |
FY23 | 9M24 | FY24 |
GB Corp | Investor Presentation 4Q24 | 9 |
INVESTOR PRESENTATION | SECOND QUARTER 2021 |
GB Auto is comprised of diverse operations that span the value chain from manufacturing and assembly to sales, after-sales, and trading.*
Passenger Cars | Trading | Egypt CV&CE | Two, Three, and Four-Wheelers |
Assembly: | Ready Parts Distribution: | Assembly: | Assembly: |
• Passenger car CKD and imported CKD | • Distribution of spare parts for passenger | • Trucks | • Motorcycles CKD assembly |
kits in Egypt | cars, motorcycles, and commercial | Manufacturing: | Manufacturing: |
• Imported CKD kits with a production | vehicles in Egypt and Iraq | • Bus bodies | • Motorcycles components at the Badr |
capacity of c.80,000 units per year in | • Largest cross-country network of its kind | • Trailers/superstructures | Facility |
Egypt | Tires Distribution: | Sales & Distribution: | Sales & Distribution: |
Sales & Distribution: | • Passenger car, van, truck, construction | • Trucks | • Motorcycles |
• CBU vehicles in Egypt, Jordan, and Iraq | equipment, and bus tires in Egypt | • Buses | • Tricycles |
• Trailers/superstructures | • Four-wheelers | ||
• Construction/farming equipment |
75.0% | 4.1% | 6.3% | 3.0% |
4Q24 GB Auto Revenue | 4Q24 GB Auto Revenue | 4Q24 GB Auto Revenue | 4Q24 GB Auto Revenue |
Contribution | Contribution | Contribution | Contribution |
FY22 Group Revenue | FY22 Group Revenue | FY22 Group Revenue | FY22 Group Revenue |
Contribution | Contribution | Contribution | Contribution |
5-Year CAGR 58% | 5-Year CAGR 72% | 5-Year CAGR 71% | 5-Year CAGR 15% |
*GB Auto has one secondary line of business, Others, which consists of pre-owned passenger cars, pre-owned commercial vehicles, and retail.
GB Corp | Investor Presentation 4Q24 | 10 |
INVESTOR PRESENTATION | SECOND QUARTER 2021 |
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