GB 1Q15 Fact Sheet
Investor Fact Sheet 1Q 2015
Shareholder Information Date of Listing: 9 July 2007 Reuters Code: AUTO.CA Bloomberg Code: AUTO.EY
GB Auto is a leading regional player with operations in key markets and sectors throughout the Middle East and North Africa. The company is focused on automotive assembly, manufacturing, sales & distribution, financing and after-sales services — including vehicle servicing and related products — and has diverse operations spanning six business units.
Number of Shares Outstanding 135,337,545* * After finalizing the capital increase, shares outstanding will reach 1,094,009,733.
Shareholder Structure
GB Auto Stock Performance GB Auto (Rebased to 100)
EGX 30 (Rebased to 100)
(As Of 31 MAR 2015)
Volume 41.3% 58.7%
Ghabbour Family Ghabbour Family Free Float Free Float
Income Statement Snapshot Three Months Ended (LE million) Total Sales Revenues Total Gross Profit Operating Profit EBIT Earnings Before Tax Net Income
1Q14 2,667.7 361.5 206.4 196.1 88.7 48.0
1Q15 3,200.3 402.5 220.2 215.6 68.4 52.1
% Change 20.0% 11.3% 6.7% 10.0% -22.9% 8.5%
Balance Sheet Snapshot As Of (LE million) Total Current Assets Total Long-Term Assets Total Assets Total Current Liabilities Total Long-Term Liabilities Minority Interest Total Shareholder’s Equity Total Liabilities and Shareholder’s Equity
SHARES COVERED BY
31-Dec-14 5,978.7 3,606.4 9,585.1 5,593.5 1,217.7 637.8 2,136.1 9,585.1
31-Mar-15 6,605.3 3,825.4 10,430.7 6,300.4 1,233.2 668.7 2,228.4 10,430.7
% Change
Regional Footprint
10.5% 6.1% 8.8% 12.6% 1.3% 4.8% 4.3% 8.8%
Arqaam Capital | Beltone Financial | CI Capital | EFG Hermes HC Securities | HSBC | NBK Capital | Pharos
GB Auto’s diverse operations are segmented across six primary lines of business Motorcycles & Three-Wheelers
Passenger Cars 60.3%
1Q15 Group Revenue Contribution
60.3% 15.3%
60.3% 15.3% 14.2%
• Distribution of motorcycles and threewheelers (“tuk-tuks”) • After-Sales service and distribution of spare parts • Financing options provided through Mashroey • Market: Egypt
Financing Businesses
Tires 2.6% 15.3% 14.2%
1Q15 Group Revenue Contribution
• Distribution of passenger car, van, truck, construction equipment and bus tires • Markets: Egypt, Iraq, Libya, Algeria, Jordan
7.3% 14.2% 2.6%
15.3% 14.2% 2.6%
14.2% 2.6% 7.3%
1Q15 Group Revenue Contribution
1Q15 Group Revenue Contribution
• Assembly and distribution of imported completely-knocked-down (CKD) kits with a production capacity of around 70,000 units per year for the Egyptian market • Distribution of imported completely-builtup (CBU) vehicles across footprint • After-Sales service and distribution of spare parts • Financing options provided through Drive in Egypt • Markets: Egypt, Iraq, Algeria, Libya
14.2% 60.3% 15.3%
Commercial Vehicles & Construction Equipment
• Assembly and distribution of trucks • Bus-body manufacturing; distribution of buses • Manufacturing and distribution of superstructures and trailers • Distribution of construction and farming equipment • Distribution of generators • After-Sales service and distribution of spare parts • Markets: Egypt
Others 0.4%7.3%2.6%
1Q15 Group Revenue Contribution
• GB Auto’s Financing Businesses offer financing in all segments of the market • GB Lease provides business-to-business financial leasing solutions, covering all asset classes • Mashroey finances the purchase of motorcycles, tuk-tuks, YTO tractors and motor tricycles • Drive offers factoring services, both business-to-business and business-toconsumer • HTT provides operational leasing • Market: Egypt
0.4%
7.3%
0.4%
1Q15 Group Revenue Contribution
• The Lubricants business distributes Gazprom Neft-Lubricants in Egypt • The Pre-Owned Vehicles division is rolling out a Western-style pre-owned car operation • The Retail division will operate retail After-Sales outlets to distribute tires, tire parts, batteries, parts and lubricants, and will also offer related services in select locations • Market: Egypt
Latest Corporate Developments 1) 99.86% of Rights Exercises in LE 960 Mn Capital Increase In May, GB Auto announced that existing shareholders and purchasers of the tradeable subscription rights, accounting for 99.86% of the company’s shares, exercised their right to participate in its LE 960 million capital increase following the expiration of the 30-day subscription period, with the company’s paidin and issued capital set to rise to LE 1.094 billion. The company is now proceeding with regulatory authorities to finalize the issuance of the new ordinary shares resulting from the capital increase.
2) GB Auto Supplies Public Transport Authority in Alexandria with 150 Buses In light of its strategic plan to promote local industry and encourages citizens to use public transportation, the Egyptian Company for Transportation Manufacturing — a subsidiary of GB Auto — won a tender to supply 150 Marcopolo buses with Volvo chassis for the Public Transport Authority in Alexandria. The buses are known for being of Swedish quality, exhibiting the highest safety standards, and heavy-duty chassis. The tender is a step by the Public Transport Authority to develop the country and solve the traffic crisis through the renovation and replacement of aging buses with new ones.
3) GB Auto and Cisco Join Forces to Drive Information Technology and ICT Education in Egypt GB Auto and Cisco, an American multinational and the worldwide leader in IT, will be strategically collaborating on major initiatives that will see GB Auto embark on an ongoing project to roll-out the latest Cisco end-to-end technology solutions into its network platform infrastructure and that of all its affiliate and subsidiary companies in order to enhance its offerings to customers and employees throughout the MENA region.
Statements contained in this document that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of GB Auto. Such statements involve known and unknown risks, uncertainties and other factors; undue reliance should not be placed thereon. Certain information contained herein constitutes “targets” or “forward-looking statements,” which can be identified by the use of forward-looking terminology such as “may,” “will,” “seek,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” or “believe” or the negatives thereof or other variations thereon or comparable terminology. Actual events or results or the actual performance of GB Auto may differ materially from those reflected or contemplated in such targets or forward-looking statements. The performance of GB Auto is subject to risks and uncertainties.
Menatalla Sadek, CFA Chief Investment Officer
Rania El Shenoufy Investor Relations Manager
Hoda Yehia AVP - Corporate Finance
Direct: +20 (0)2 3910 0485 Fax: +20 (0)2 3539 0139
ir.ghabbourauto.com
E-mail: [email protected]
Shareholder Information Date of Listing: 9 July 2007 Reuters Code: AUTO.CA Bloomberg Code: AUTO.EY
GB Auto is a leading regional player with operations in key markets and sectors throughout the Middle East and North Africa. The company is focused on automotive assembly, manufacturing, sales & distribution, financing and after-sales services — including vehicle servicing and related products — and has diverse operations spanning six business units.
Number of Shares Outstanding 135,337,545* * After finalizing the capital increase, shares outstanding will reach 1,094,009,733.
Shareholder Structure
GB Auto Stock Performance GB Auto (Rebased to 100)
EGX 30 (Rebased to 100)
(As Of 31 MAR 2015)
Volume 41.3% 58.7%
Ghabbour Family Ghabbour Family Free Float Free Float
Income Statement Snapshot Three Months Ended (LE million) Total Sales Revenues Total Gross Profit Operating Profit EBIT Earnings Before Tax Net Income
1Q14 2,667.7 361.5 206.4 196.1 88.7 48.0
1Q15 3,200.3 402.5 220.2 215.6 68.4 52.1
% Change 20.0% 11.3% 6.7% 10.0% -22.9% 8.5%
Balance Sheet Snapshot As Of (LE million) Total Current Assets Total Long-Term Assets Total Assets Total Current Liabilities Total Long-Term Liabilities Minority Interest Total Shareholder’s Equity Total Liabilities and Shareholder’s Equity
SHARES COVERED BY
31-Dec-14 5,978.7 3,606.4 9,585.1 5,593.5 1,217.7 637.8 2,136.1 9,585.1
31-Mar-15 6,605.3 3,825.4 10,430.7 6,300.4 1,233.2 668.7 2,228.4 10,430.7
% Change
Regional Footprint
10.5% 6.1% 8.8% 12.6% 1.3% 4.8% 4.3% 8.8%
Arqaam Capital | Beltone Financial | CI Capital | EFG Hermes HC Securities | HSBC | NBK Capital | Pharos
GB Auto’s diverse operations are segmented across six primary lines of business Motorcycles & Three-Wheelers
Passenger Cars 60.3%
1Q15 Group Revenue Contribution
60.3% 15.3%
60.3% 15.3% 14.2%
• Distribution of motorcycles and threewheelers (“tuk-tuks”) • After-Sales service and distribution of spare parts • Financing options provided through Mashroey • Market: Egypt
Financing Businesses
Tires 2.6% 15.3% 14.2%
1Q15 Group Revenue Contribution
• Distribution of passenger car, van, truck, construction equipment and bus tires • Markets: Egypt, Iraq, Libya, Algeria, Jordan
7.3% 14.2% 2.6%
15.3% 14.2% 2.6%
14.2% 2.6% 7.3%
1Q15 Group Revenue Contribution
1Q15 Group Revenue Contribution
• Assembly and distribution of imported completely-knocked-down (CKD) kits with a production capacity of around 70,000 units per year for the Egyptian market • Distribution of imported completely-builtup (CBU) vehicles across footprint • After-Sales service and distribution of spare parts • Financing options provided through Drive in Egypt • Markets: Egypt, Iraq, Algeria, Libya
14.2% 60.3% 15.3%
Commercial Vehicles & Construction Equipment
• Assembly and distribution of trucks • Bus-body manufacturing; distribution of buses • Manufacturing and distribution of superstructures and trailers • Distribution of construction and farming equipment • Distribution of generators • After-Sales service and distribution of spare parts • Markets: Egypt
Others 0.4%7.3%2.6%
1Q15 Group Revenue Contribution
• GB Auto’s Financing Businesses offer financing in all segments of the market • GB Lease provides business-to-business financial leasing solutions, covering all asset classes • Mashroey finances the purchase of motorcycles, tuk-tuks, YTO tractors and motor tricycles • Drive offers factoring services, both business-to-business and business-toconsumer • HTT provides operational leasing • Market: Egypt
0.4%
7.3%
0.4%
1Q15 Group Revenue Contribution
• The Lubricants business distributes Gazprom Neft-Lubricants in Egypt • The Pre-Owned Vehicles division is rolling out a Western-style pre-owned car operation • The Retail division will operate retail After-Sales outlets to distribute tires, tire parts, batteries, parts and lubricants, and will also offer related services in select locations • Market: Egypt
Latest Corporate Developments 1) 99.86% of Rights Exercises in LE 960 Mn Capital Increase In May, GB Auto announced that existing shareholders and purchasers of the tradeable subscription rights, accounting for 99.86% of the company’s shares, exercised their right to participate in its LE 960 million capital increase following the expiration of the 30-day subscription period, with the company’s paidin and issued capital set to rise to LE 1.094 billion. The company is now proceeding with regulatory authorities to finalize the issuance of the new ordinary shares resulting from the capital increase.
2) GB Auto Supplies Public Transport Authority in Alexandria with 150 Buses In light of its strategic plan to promote local industry and encourages citizens to use public transportation, the Egyptian Company for Transportation Manufacturing — a subsidiary of GB Auto — won a tender to supply 150 Marcopolo buses with Volvo chassis for the Public Transport Authority in Alexandria. The buses are known for being of Swedish quality, exhibiting the highest safety standards, and heavy-duty chassis. The tender is a step by the Public Transport Authority to develop the country and solve the traffic crisis through the renovation and replacement of aging buses with new ones.
3) GB Auto and Cisco Join Forces to Drive Information Technology and ICT Education in Egypt GB Auto and Cisco, an American multinational and the worldwide leader in IT, will be strategically collaborating on major initiatives that will see GB Auto embark on an ongoing project to roll-out the latest Cisco end-to-end technology solutions into its network platform infrastructure and that of all its affiliate and subsidiary companies in order to enhance its offerings to customers and employees throughout the MENA region.
Statements contained in this document that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of GB Auto. Such statements involve known and unknown risks, uncertainties and other factors; undue reliance should not be placed thereon. Certain information contained herein constitutes “targets” or “forward-looking statements,” which can be identified by the use of forward-looking terminology such as “may,” “will,” “seek,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” or “believe” or the negatives thereof or other variations thereon or comparable terminology. Actual events or results or the actual performance of GB Auto may differ materially from those reflected or contemplated in such targets or forward-looking statements. The performance of GB Auto is subject to risks and uncertainties.
Menatalla Sadek, CFA Chief Investment Officer
Rania El Shenoufy Investor Relations Manager
Hoda Yehia AVP - Corporate Finance
Direct: +20 (0)2 3910 0485 Fax: +20 (0)2 3539 0139
ir.ghabbourauto.com
E-mail: [email protected]
