investor presentation q4 and fy 2015 · q3`14 q3`15 1,303 fy 2014 1,267 +2.8% fy 2015 yoy ebitda...
TRANSCRIPT
Investor Presentation Q4 and FY 2015
Group Highlights
Group Highlights
6,616-3.6% vs.LY
26,461-0.5% vs. LY
1,306-4.6% vs. LY
5,122+5.3% vs. LY
531-12.1% vs. LY
1,982-19.2% vs. LY
515+18.6% vs. LY
1,792-13.5% vs.LY
Y
T
D
Q
4
EBIT Net IncomeGross ProfitRevenue
All numbers are in SAR million unless specified
Group Highlights – One offs
Q4 2015:
Capital gain from sale of land (SAR 39 mln)
Insurance claim settlement due to the fire in raw sugar warehouse in 2013 (SAR 94.2 mln)
Q1 2015:
Capital gain from the sale of packaging business (SAR 265 mln)
Q4 2014:
Packaging income LY (SAR 13 mln)
Impairment provision on private equity investments (SAR 67 mln)
Q3 2014:
Packaging income LY (SAR 14 mln)
Adjustment to the gain from disposal of Kazakhstan business last year (SAR 5 mln)
Capital gain from selling stake in Diyar Al Mashriq (SAR 187.5 mln)
Extraordinary profit from real estate LY (SAR amount 71 mln)
Q2 2014:
Packaging income last year (SAR 18 mln)
Gain from disposal of Kazakhstan business last year (SAR 17 mln)
Dividends received from a private equity investment (SAR 46 mln)
Diyar Al Mashriq share of profit last year (SAR 17 mln)
Q1 2014:
Packaging income last year (SAR 5 mln)
Extraordinary profit from real estate last year (SAR 112 mln)
Diyar Al Mashriq share of loss (SAR 1.5 mln)
YoY Sales
Group Financial Highlights
+4.9%
6,241
Q1`15
6,547
Q1`14
7,337
Q2`14
+1.1%
7,421
Q2`15
-4.4%
Q3`15
5,8776,150
Q3`14
26,461
FY 2014 FY 2015
26,588
-0.5%
+8.1%
Q1`15
1,182
Q1`14
1,093 1,251
Q2`14
+9.7%
Q2`15
1,372
+9.7%
Q3`15
1,263
Q3`14
1,151
+5.3%
FY 2015
5,122
FY 2014
4,864
YoY Gross Profit
Growth
All numbers are in SAR million unless specified
-3.6%
Q4`15
6,6166,860
Q4`14
Q4`15
-4.6%
1,306
Q4`14
1,369
17.5% 18.0% 17.1% 18.5% 18.7% 21.5% 20.0% 19.7% 18.3% 19.4%
Margin
-27.3%
531 386
Q1`14 Q1`15 Q2`15
-17.4%
Q2`14
554671
Q3`15
511
Q3`14
-21.1%
648
FY 2014
2,455
-19.2%
FY 2015
1,982
YoY EBIT
Group Financial Highlights
+11.3%
Q1`15
471
Q1`14
423 434
Q2`15Q2`14
513
-15.4%
701
Q3`14
-46.9%
Q3`15
372
FY 2015
1,792
FY 2014
-13.5%
2,072
YoY NI
Growth
All numbers are in SAR million unless specified
531
-12.1%
Q4`15Q4`14
605
Q4`15Q4`14
434 515
+18.6%
Revenue Mix by Business FY 2015
3,092
All numbers are in SAR million unless specified
54%
46%
RevenueFY 2014
Foods Retail
49%51%
RevenueFY 2015
Foods Retail
Capital Expenditure By SegmentAll numbers are in SAR million unless specified
605
403
FY 2015FY 2014
+50.3%
1,1481,333
FY 2015FY 2014
-13.9%
Foods Retail
Foods Highlights
Foods Highlights
3,222-12.3% vs.LY
13,213-9.4% vs. LY
423-19.6% vs. LY
1,877-5.3% vs. LY
271+105.3% vs. LY
687+12.6% vs. LY
1,007-0.2% vs. LY
4,026+1.3% vs.LY
Y
T
D
Q
4
Net Income Volume
(‘000MT)Gross ProfitRevenue
All numbers are in SAR million unless specified
YoY Sales
Foods Financial Highlights
3,4103,464
Q1`15
-1.6%
Q1`14
3,7544,120
-8.9%
Q2`15Q2`14
-15.3%
Q3`15
2,8273,337
Q3`14
-9.4%
FY 2015
13,213
FY 2014
14,592
+3.6%
Q1`15Q1`14
462446
Q2`14
583
-4.1%
Q2`15
559 427
Q3`15Q3`14
433
+1.5% 1,981
FY 2015
-5.3%
1,877
FY 2014
YoY Gross Profit
Growth
All numbers are in SAR million unless specified
-12.3%
Q4`15
3,2223,672
Q4`14
526
-19.6%
Q4`15
423
Q4`14
12.9% 13.5% 14.1% 14.9% 12.8% 15.3% 14.3% 13.1% 13.6% 14.2%
Margin
Q1`15
298
Q1`14
299
-0.3%
Q2`14
361410
-12.0%
Q2`15
-0.4%
278279
Q3`14 Q3`15
1,303
FY 2014
1,267
+2.8%
FY 2015
YoY EBITDA
Foods Financial Highlights
95
-41.4%
Q1`15
162
Q1`14 Q2`15
207
+1.4%
210
Q2`14
+2.8%
109
Q3`15
112
Q3`14
687610
+12.6%
FY 2014 FY 2015
YoY NI
Growth
All numbers are in SAR million unless specified
+31.7%
278 366
Q4`15Q4`14
Q4`15
271
+105.3%
Q4`14
132
Revenue Breakdown By Category
5%
FY 2014 FY 2015
86%
41%
13,213
44%
14,592
86%
5%
-9%
Oil
YoY -8%
SugarYoY -14%
Pasta
YoY +5%
All numbers are in SAR million unless specified
Volume Breakdown By Category
FY 2015FY 2014
4,026
54%
40%
6%
+1%
5%
3,974
39%
55%
Pasta
YoY +10%
Sugar
YoY -1%
Oil
YoY +4%
Thousand tonnes unless specified otherwise
Volume Breakdown By Geography
2%
43%
2%
34%
14%
4%2%
FY 2014
3,974
2%3%
4,026
42%
35%
4%
FY 2015
13%
+1%
2% Morocco
YoY +16%
Algeria
YoY +9%
KSA
YoY 0%
Egypt
YoY +5%
Iran
YoY -6%
Turkey
YoY 0%
Sudan
YoY +18%
Thousand tonnes unless specified otherwise
Retail Highlights
Retail Highlights
3,468+7.2% vs.LY
13,534+10.9% vs. LY
882+5.5% vs. LY
3,245+12.8% vs. LY
29-86.0% vs. LY
146-70.9% vs. LY
281 hypermarket
7 supermarkets20 Pandati
1674 Hyper
21 Super142 Pandati
Y
T
D
Q
4
Net Income Stores
OpeningsGross ProfitRevenue
All numbers are in SAR million unless specified
YoY Sales
Retail Financial Highlights
Q1`15
3,1922,818
+13.3%
Q1`14 Q2`14
+15.2%
Q2`15
3,7823,283
Q3`15Q3`14
+7.8%
3,0922,868
FY`14
+10.9%
FY `15
13,53412,204
+11.3%
648
Q1`15
721
Q1`14 Q2`15Q2`14
+21.4%
813670
Q3`15
+14.2%
726 829
Q3`14 FY `14
2,877
+12.8%
FY `15
3,245
YoY Gross Profit
Growth
All numbers are in SAR million unless specified
Q4`15
3,235 3,468
Q4`14
+7.2%
Q3`15
+5.5%
882
Q3`14
836
23.0% 22.6% 20.4% 21.5% 25.3% 26.8% 25.8% 25.4% 23.6% 24.0%
Margin
110
-25.7%
Q1`15
148
Q1`14
+0.7%
Q2`15Q2`14
152 153
Q3`14
233
Q3`15
-29.6%
164
-31.6%
FY’15
564824
FY’14
YoY EBITDA
Retail Financial Highlights
72
18
-75.0%
Q1`15Q1`14
4874
-35.1%
Q2`14 Q2`15
51
-66.0%
Q3`15Q3`14
150
-70.9%
FY `14 FY `15
503
146
YoY NI
Growth
All numbers are in SAR million unless specified
Q4`15Q4`14
-52.5%
138291
29
-86.0%
206
Q4`14 Q4`15
Number of Stores and Selling Area
21
152
131
Closures YTD’15
0
20152014
6460
Closures YTD’152015
4
2014
0
142
282
155
YTD’15Closures2014
15
2015
167
498
346
YTD’15Closures
15
20152014
TotalSelling Area
747,544 m2
Selling Area
654,908 m2
Super Hyper
Pandati
Number of Stores – By Quarter
152
131
Q1’15 Closures
0
2014
4
YTD’15Q4’15
7
Q3’15Q2’15
46
Super
6460
Closures YTD’15Q3’15
0 1
Q4’15
1
Q1’15
2
Q2’152014
Hyper
53
48
282
155
Closures
1521
Q1’15 Q2’15 YTD’15
20
Q4’152014 Q3’15
Pandati
5955
498
346
YTD’15Closures
2825
Q2’15Q1’15 Q3’15
15
Q4’152014
TotalSelling Area
747,544 m2
Selling Area
654,908 m2
* All closures occurred during Q4 2015
Appendix
Annual Financials
(all figures are in SAR millions)
Revenue Gross Profit EBIT Net Income EBITDA Revenue Gross Profit EBIT Net Income EBITDA
Food
Oil-Mature Markets 7,122 1,323 731 560 817 7,883 1,339 707 474 794
Oil-Start-up Markets* 1,461 224 112 73 129 1,458 229 97 79 116
Total Oil 8,583 1,547 843 633 945 9,341 1,568 804 553 910
Sugar 4,102 214 142 13 281 4,751 334 159 20 297
Pasta 527 116 59 40 77 500 79 42 37 60
Total Foods 13,213 1,877 1,044 687 1,303 14,592 1,981 1,005 610 1,267
Retail
KSA 13,211 3,184 193 145 558 11,893 2,831 530 495 813
Overseas 323 61 2 1 6 312 46 8 8 11
Total Retail 13,534 3,245 195 146 564 12,204 2,877 538 503 824
Real Estate 0 0 20 20 20 0 0 226 226 226
Discontinued Operation 0 0 0 0 0 0 0 0 50 0
Herfy 0 0 101 101 101 0 0 103 103 103
Al Marai-Savola Share 0 0 698 698 698 0 0 611 611 611
HQ/Elimination/Impairments (286) 0 (75) 140 (360) (208) 6 (27) (30) 52
Total 26,461 5,122 1,982 1,792 2,326 26,588 4,864 2,455 2,072 3,082
Adjustments
Impairments - 67
Capital gains (304) (209)
Adjusted Profit 1,488 1,931
Segment Wise Financials
FY- 2015 FY- 2014
Quarterly Financials – Q4
(all figures are in SAR millions)
Revenue Gross Profit EBIT Net Income EBITDA Revenue Gross Profit EBIT Net Income EBITDA
Food
Oil-Mature Markets 1,660 294 134 146 156 2,037 347 111 56 133
Oil-Start-up Markets* 425 60 33 18 38 366 50 21 24 25
Total Oil 2,085 354 167 164 194 2,403 397 132 80 158
Sugar 1,015 41 122 99 157 1,152 106 66 41 102
Pasta 122 28 14 8 16 116 23 14 11 18
Total Foods 3,222 423 303 271 366 3,672 526 212 132 278
Retail
KSA 3,374 856 36 30 138 3,157 824 212 204 287
Overseas 93 26 (0) (1) 1 77 12 3 3 4
Total Retail 3,468 882 36 29 138 3,235 836 215 206 291
Real Estate 0 0 4 4 4 0 0 5 5 5
Discontinued Operation 0 0 0 0 0 0 0 0 13 0
Herfy 0 0 24 24 24 0 0 29 29 29
Al Marai-Savola Share 0 0 175 175 175 0 0 155 155 155
HQ/Elimination/Impairments (74) 1 (11) 12 (47) (46) 6 (11) (106) 61
Total 6,616 1,306 531 515 661 6,860 1,369 605 434 820
Adjustments
Impairments - 67
Capital gains (39) -
Adjusted Profit 476 502
Segment Wise Financials
Q4- 2015 Q4- 2014