GB 3Q15 Fact Sheet
Investor Fact Sheet 3Q 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 1,094,009,733
Shareholder Structure
GB Auto Stock Performance
(As Of 30 SEP 2015)
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
3Q14 3,081.3 408.6 234.2 208.4 88.9 54.0
3Q15 3,169.8 393.6 176.3 246.8 127.4 102.6
% Change 2.9% -3.7% -24.7% 18.4% 43.4% 89.9%
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
30-Sep-15 7,322.6 4,122.3 11,444.9 6,276.8 1,215.1 635.8 3,317.2 11,444.9
% Change
Regional Footprint
22.5% 14.3% 19.4% 12.2% -0.2% -0.3% 55.3% 19.4%
Arqaam Capital | Beltone Financial | CI Capital | EFG Hermes HC Securities | HSBC | NBK Capital | Naeem Holding
GB Auto’s diverse operations are segmented across six primary lines of business Motorcycles & Three-Wheelers
Passenger Cars 62.2%
3Q15 Group Revenue Contribution
62.2% 16.9%
62.2% 16.9% 9.1%
• Distribution of motorcycles and threewheelers (“tuk-tuks”) • After-Sales service and distribution of spare parts • Financing options provided through Mashroey • Markets: Egypt, Iraq
Financing Businesses
Tires 2.1% 16.9% 9.1%
3Q15 Group Revenue Contribution
• Distribution of passenger car, van, truck, construction equipment and bus tires • Markets: Egypt, Iraq, Libya, Algeria, Jordan
9.1% 9.1% 2.1%
16.9% 9.1% 2.1%
9.1% 2.1% 9.1%
3Q15 Group Revenue Contribution
3Q15 Group Revenue Contribution
• Assembly and distribution of imported completely-knocked-down (CKD) kits with a production capacity of around 50,000 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
9.1% 62.2% 16.9%
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 0.6%9.1%2.1%
3Q15 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 • Tasaheel operates as a non-bank financial services company • Market: Egypt
0.6%
9.1%
0.6%
3Q15 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) GB Auto adds Chery vehicles to its brand portfolio in tripartite cooperation agreement In October, GB Auto entered into a tripartite cooperation agreement with Chery International of China and Aboul Fotouh Automotive (AF Automotive) of Egypt that will see GB Auto exclusively distribute Chery-brand vehicles through its nationwide network in Egypt. The agreement covers both CKD and CBU models produced by Chery International, including sub-compacts, compacts, sedans and small SUVs, all with engines in the 1.0L to 2.4L range. Together, GB Auto and AF Automotive’s combined capacity could reach up to 90,000 vehicles per annum.
2) Successful close of EGP 960 mn capital increase for two new plants The first facility will be a wholly owned plant that will assemble motorcycles and threewheelers, which management believes to be the first of its kind outside of India for Bajaj. The second plant will be a new tire-manufacturing facility. Both plants will open new opportunities for GB Auto in these fast-growing lines of business.
3) GB Auto delivers 150 Marcopolo buses to Alexandria transport authority in 3Q15 The delivery comes after the Egyptian Company for Transportation Manufacturing — a subsidiary of GB Auto — won a tender in 1Q2015 to supply 150 Marcopolo buses with Volvo chassis to 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 part of GB Auto’s strategic plan to promote local industry and encourage citizens to use public transportation. GB Auto looks forward to similar orders of buses toward the start of 2016.
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 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 1,094,009,733
Shareholder Structure
GB Auto Stock Performance
(As Of 30 SEP 2015)
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
3Q14 3,081.3 408.6 234.2 208.4 88.9 54.0
3Q15 3,169.8 393.6 176.3 246.8 127.4 102.6
% Change 2.9% -3.7% -24.7% 18.4% 43.4% 89.9%
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
30-Sep-15 7,322.6 4,122.3 11,444.9 6,276.8 1,215.1 635.8 3,317.2 11,444.9
% Change
Regional Footprint
22.5% 14.3% 19.4% 12.2% -0.2% -0.3% 55.3% 19.4%
Arqaam Capital | Beltone Financial | CI Capital | EFG Hermes HC Securities | HSBC | NBK Capital | Naeem Holding
GB Auto’s diverse operations are segmented across six primary lines of business Motorcycles & Three-Wheelers
Passenger Cars 62.2%
3Q15 Group Revenue Contribution
62.2% 16.9%
62.2% 16.9% 9.1%
• Distribution of motorcycles and threewheelers (“tuk-tuks”) • After-Sales service and distribution of spare parts • Financing options provided through Mashroey • Markets: Egypt, Iraq
Financing Businesses
Tires 2.1% 16.9% 9.1%
3Q15 Group Revenue Contribution
• Distribution of passenger car, van, truck, construction equipment and bus tires • Markets: Egypt, Iraq, Libya, Algeria, Jordan
9.1% 9.1% 2.1%
16.9% 9.1% 2.1%
9.1% 2.1% 9.1%
3Q15 Group Revenue Contribution
3Q15 Group Revenue Contribution
• Assembly and distribution of imported completely-knocked-down (CKD) kits with a production capacity of around 50,000 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
9.1% 62.2% 16.9%
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 0.6%9.1%2.1%
3Q15 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 • Tasaheel operates as a non-bank financial services company • Market: Egypt
0.6%
9.1%
0.6%
3Q15 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) GB Auto adds Chery vehicles to its brand portfolio in tripartite cooperation agreement In October, GB Auto entered into a tripartite cooperation agreement with Chery International of China and Aboul Fotouh Automotive (AF Automotive) of Egypt that will see GB Auto exclusively distribute Chery-brand vehicles through its nationwide network in Egypt. The agreement covers both CKD and CBU models produced by Chery International, including sub-compacts, compacts, sedans and small SUVs, all with engines in the 1.0L to 2.4L range. Together, GB Auto and AF Automotive’s combined capacity could reach up to 90,000 vehicles per annum.
2) Successful close of EGP 960 mn capital increase for two new plants The first facility will be a wholly owned plant that will assemble motorcycles and threewheelers, which management believes to be the first of its kind outside of India for Bajaj. The second plant will be a new tire-manufacturing facility. Both plants will open new opportunities for GB Auto in these fast-growing lines of business.
3) GB Auto delivers 150 Marcopolo buses to Alexandria transport authority in 3Q15 The delivery comes after the Egyptian Company for Transportation Manufacturing — a subsidiary of GB Auto — won a tender in 1Q2015 to supply 150 Marcopolo buses with Volvo chassis to 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 part of GB Auto’s strategic plan to promote local industry and encourage citizens to use public transportation. GB Auto looks forward to similar orders of buses toward the start of 2016.
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 Hoda Yehia AVP - Corporate Finance
Direct: +20 (0)2 3910 0485 Fax: +20 (0)2 3539 0139
ir.ghabbourauto.com
E-mail: [email protected]
