Investor Presentation Q2 2016
Investor Presentation Q2 2016
1
Group Highlights
2
Group Highlights All numbers are in SAR million unless specified
Revenue
Q 2
Y T D
Gross Profit
EBIT
Net Income
6,890
1,290
414
247
-2.1% vs.LY
-4.7% vs. LY
-23.7% vs. LY
-43.2% vs. LY
12,913
2,513
700
340
-2.6% vs. LY
0.0% vs. LY
-23.4% vs. LY
-62.5% vs. LY
3
Group Highlights – One offs Q1 2016: – Share of loss from associate (SAR 20.4 mln)
Q1 2015: – Capital gain from the sale of packaging business (SAR 265 mln)
4
Group Financial Highlights All numbers are in SAR million unless specified
Growth
Margin
-2.6%
YoY Sales -2.1%
-3.2%
6,224
6,023
7,036
6,890
Q1’15
Q1’16
Q2’15
Q2’16
13,260
12,913
YTD Jun’15
YTD Jun’16
0.0%
YoY Gross Profit -4.7%
5.5%
2,512
2,513
1,159
1,223
1,353 1,263
1,290
Q1’15
Q1’16
Q2’15
Q2’16
YTD Jun’15
YTD Jun’16
18.6%
20.3%
19.2%
18.7%
18.9%
19.5%
1,306
5
Group Financial Highlights All numbers are in SAR million unless specified
Growth
Margin
-23.4%
YoY EBIT -23.7% -23.0%
913
543 371
285
Q1’15 6.0%
Q1, 16 4.7%
511
Q2’15 7.7%
700
414
Q2’16 6.0%
YTD Jun’15 6.9%
YoY NI
YTD Jun’16 5.4%
-62.5%
-80.3%
-43.2%
905 471
434 93
Q1’15
Q1’16
Q2’15
7.6%
1.5%
6.2%
340
247
372
Q2’16 3.6%
YTD Jun’15 6.8%
YTD Jun’16 2.6%
6
Revenue Mix by Business FY 2016 All numbers are in SAR million unless specified
Revenue YTD Jun'15
48%
Foods
Revenue YTD Jun'16
52%
Retail
45% 3,092
Foods
55%
Retail
7
Capital Expenditure By Segment All numbers are in SAR million unless specified
-37.2%
+86.4%
670 421
371 199 YTD Jun’15
YTD Jun’16
Foods
YTD Jun’15
YTD Jun’16
Retail 8
Group Net Income Water Fall – Exceptional Items (YTD) SAR Mn
905 265
705 65
547 98 340
YTD June 2015
Capital Gain on sale of SPS
FX Impact Foods
YTD June 2015 (Clean Net Income)
YTD June 2016
20
Loss from Associate
89
FX Impact USD Sourcing YTD June Foods Foods 2016 (Clean Net Income)
Group clean NI fell by around 22.4% 9
Foods Highlights
10
Foods Highlights All numbers are in SAR million unless specified
Revenue
Q 2
Y T D
Gross Profit
Net Income
Volume (‘000MT)
3,103
507
135
931
-7.9% vs.LY
-6.1% vs. LY
-35.7% vs. LY
-0.4% vs. LY
5,922
906
191
1,782
-8.3% vs. LY
-7.5% vs. LY
-37.3% vs. LY
1.9% vs. LY
11
Foods Financial Highlights All numbers are in SAR million unless specified
Growth
YoY Sales
Margin
-8.3% -7.9%
-8.6%
3,087
2,820
Q1’15
Q1’16
3,369
3,103
Q2’15
Q2’16
6,456
5,922
YTD Jun’15
YTD Jun’16
-7.5%
YoY Gross Profit
-6.1%
-9.3%
439
399
Q1’15 14.2%
Q1’16 14.1%
979
906
Q2’16
YTD Jun’15
YTD Jun’16
16.3%
15.2%
15.3%
540
507
Q2’15 16.0%
12
Foods Financial Highlights All numbers are in SAR million unless specified
Growth
Margin
-11.0%
YoY EBITDA -8.3% -14.3%
617
275
236
Q1’15 8.9%
Q1’16 8.4%
342
314
Q2’15 10.2%
Q2’16 10.1%
549
YTD Jun’15
YTD Jun’16
9.6%
9.3%
YoY NI
-37.4% -35.7%
-40.7%
305
210 95 Q1’15 3.1%
56 Q1’16 2.0%
191
135
Q2’15
Q2’16
YTD Jun’15
YTD Jun’16
6.2%
4.4%
4.7%
3.2%
13
Revenue Breakdown By Category All numbers are in SAR million unless specified
-8.2% 6,455 4%
5,922 5%
24% 22%
72%
YTD Jun’15
Pasta YoY +7% Sugar YoY -13% Oil YoY -8%
73%
YTD Jun’16
14
Revenue Breakdown By Geography All numbers are in SAR million unless specified
-8.2% 6,455 2% 5% 4% 8% 23%
5,922 3% 3% 4% 7% 21%
20%
16%
38%
46%
YTD Jun’15
YTD Jun’16
Morocco YoY +10% Sudan YoY -46% Algeria YoY -8% Turkey YoY -9% Iran YoY -15% Egypt YoY -28% KSA YoY +10%
15
Volume Breakdown By Category Thousand tonnes unless specified otherwise
+1.9% 1,749
1,782
7%
9%
43%
47%
50%
45%
YTD Jun’15
YTD Jun’16
Pasta YoY +19% Sugar YoY +11% Oil YoY -9%
16
Volume Breakdown By Geography Thousand tonnes unless specified otherwise
+1.9% 1,749 2% 3% 4%
2%
1,782 2% 3% 4%
15%
14%
22%
24%
51%
51%
YTD Jun’15
YTD Jun’16
2%
Morocco YoY +11% Sudan YoY -3% Algeria YoY +12% Turkey YoY -8% Iran YoY -6% Egypt YoY +7% KSA YoY +2%
17
Retail Highlights
18
Retail Highlights All numbers are in SAR million unless specified
Revenue
Q 2
Y T D
Gross Profit
Net Income
Stores Openings
3,874
782
-80
7
+2.4% vs.LY
-3.8% vs. LY
NA vs. LY
3 Hyper 4 Super
7,145 1,607
-101
12
NA vs. LY
3 Hyper 8 Super 1 Pandati
+2.5% vs. LY
+4.8% vs. LY
19
Retail Financial Highlights All numbers are in SAR million unless specified
Growth
Margin
2.5%
YoY Sales 2.4%
2.5%
3,192
3,271
3,782
3,874
Q1’15
Q1’16
Q2’15
Q2’16
6,974
7,145
YTD Jun’15
YTD Jun’16
4.8%
YoY Gross Profit 14.5%
-3.8% 1,534
1,607
720
824
813
782
Q1’15 22.6%
Q1’16 25.2%
Q2’15 21.5%
Q2’16
YTD Jun’15
YTD Jun’16
20.2%
22.0%
22.5%
20
Retail Financial Highlights All numbers are in SAR million unless specified
Growth
YoY EBITDA
Margin
-37.9%
-66.6% 1.7%
110
263 163
153
112
51 Q1’15 3.5%
Q1’16 3.4%
Q2’15 4.0%
Q1’16 1.3%
YTD Jun’15 3.8%
YTD Jun’16 2.3%
YoY NI 67
48
18 -21
-101
-80 Q1’15
Q1’16
0.6%
-0.6 %
Q2’15 1.3%
Q2’16
YTD Jun’15
YTD Jun’16
-2.1%
1.0%
-1.4%
21
Number of Stores and Selling Area Super 154
Hyper 0
4
158 64
Q1’16
Openings
Closures
YTD’16
Q1’16
Q1’16
9
Openings
Closures
Openings
Closures
67
YTD’16 Selling Area 758,227 m2
Total 450
0
0
Selling Area 742,113 m2
Pandati
232
3
7
9
Openings
Closures
448
223
YTD’16
Q1’16
YTD’16 22
Number of Stores – By Quarter Super 152
2015
4
Q1’16
Hyper 2
4
158 64
Q2’16 Closures YTD’16
Pandati
2015
2015
1
Q1’16
0
60
0
Q1’16
Q2’16
Closures
Total
Selling Area 747,544 m2
498
282
0
3
5
7
Q1’16
Q2’16
67
YTD’16 Selling Area 758,227 m2
62
448
223
Q2’16 Closures YTD’16
2015
Closures YTD’16 23
Appendix
24
Quarterly Financials – Q1 2016 (all figures are in SAR millions) Segment Wise Financials Q1- 2016 Revenue Food Oil-Mature Markets Oil-Start-up Markets* Total Oil
Gross Profit
1,675 273 1,949
292 39 331
Sugar
733
37
Pasta
138
Total Foods Retail KSA Overseas Total Retail Real Estate Herfy Al Marai-Savola Share HQ/Elimination/Impairments Total Adjustments Impairments Capital gains Adjusted Profit
Q1- 2015
EBIT
Net Income
Revenue
Gross Profit
EBIT
Net Income
EBITDA
107 9 117
175 18 193
1,930 354 2,284
331 66 396
198 33 231
119 25 144
(3)
(67)
24
682
21
(24)
(52)
4
31
13
6
18
121
22
9
3
15
2,820
399
177
56
236
3,087
439
217
95
275
3,191 80 3,271
810 15 824
2 (1) 1
(16) (5) (21)
112 (0) 112
3,118 75 3,192
709 11 720
30 2 31
17 2 18
108 3 110
0 0 0 0
16 28 112 (48)
16 28 112 (98)
16 28 112 (48)
4 29 112 (23)
4 29 112 212
4 29 112 (19)
285
93
456
371
471
511
0 0 0 (68) 6,023
1,223
153 14 168
EBITDA
-
0 0 0 (55) 6,224
0 0 0 (0) 1,159
219 37 256
(265) 93
206
25
Quarterly Financials – Q2 2016 (all figures are in SAR millions) Segment Wise Financials Q2- 2016 Revenue Food Oil-Mature Markets Oil-Start-up Markets* Total Oil
Gross Profit
Q2- 2015
EBIT
Net Income
1,765 288 2,053
380 38 418
213 14 227
Sugar
886
49
Pasta
164
Total Foods Retail KSA Overseas Total Retail Real Estate Herfy Al Marai-Savola Share HQ/Elimination/Impairments Total
EBITDA
Revenue
Gross Profit
139 9 148
236 17 253
2,002 368 2,370
401 57 458
3
(31)
33
838
42
40
23
18
27
161
3,103
507
253
135
314
3,787 87 3,874
766 17 782
(61) (0) (61)
(80) 0 (80)
50 1 51
0 0 0 0
0 20 232 (29)
0 20 232 (60)
0 20 232 (13)
414
247
604
0 0 0 (86) 6,890
1,290
EBIT
Net Income
186 21 207
254 33 287
(0)
(17)
28
41
22
20
27
3,369
540
283
210
342
3,701 81 3,782
801 12 813
59 3 61
46 3 48
149 3 153
5 20 194 (21)
5 20 194 (43)
5 20 194 (17)
543
434
697
0 0 0 (114) 7,036
0 0 0 (0) 1,353
233 29 261
EBITDA
Adjustments Impairments Capital gains
-
-
Adjusted Profit
247
434
26
1
Group Highlights
2
Group Highlights All numbers are in SAR million unless specified
Revenue
Q 2
Y T D
Gross Profit
EBIT
Net Income
6,890
1,290
414
247
-2.1% vs.LY
-4.7% vs. LY
-23.7% vs. LY
-43.2% vs. LY
12,913
2,513
700
340
-2.6% vs. LY
0.0% vs. LY
-23.4% vs. LY
-62.5% vs. LY
3
Group Highlights – One offs Q1 2016: – Share of loss from associate (SAR 20.4 mln)
Q1 2015: – Capital gain from the sale of packaging business (SAR 265 mln)
4
Group Financial Highlights All numbers are in SAR million unless specified
Growth
Margin
-2.6%
YoY Sales -2.1%
-3.2%
6,224
6,023
7,036
6,890
Q1’15
Q1’16
Q2’15
Q2’16
13,260
12,913
YTD Jun’15
YTD Jun’16
0.0%
YoY Gross Profit -4.7%
5.5%
2,512
2,513
1,159
1,223
1,353 1,263
1,290
Q1’15
Q1’16
Q2’15
Q2’16
YTD Jun’15
YTD Jun’16
18.6%
20.3%
19.2%
18.7%
18.9%
19.5%
1,306
5
Group Financial Highlights All numbers are in SAR million unless specified
Growth
Margin
-23.4%
YoY EBIT -23.7% -23.0%
913
543 371
285
Q1’15 6.0%
Q1, 16 4.7%
511
Q2’15 7.7%
700
414
Q2’16 6.0%
YTD Jun’15 6.9%
YoY NI
YTD Jun’16 5.4%
-62.5%
-80.3%
-43.2%
905 471
434 93
Q1’15
Q1’16
Q2’15
7.6%
1.5%
6.2%
340
247
372
Q2’16 3.6%
YTD Jun’15 6.8%
YTD Jun’16 2.6%
6
Revenue Mix by Business FY 2016 All numbers are in SAR million unless specified
Revenue YTD Jun'15
48%
Foods
Revenue YTD Jun'16
52%
Retail
45% 3,092
Foods
55%
Retail
7
Capital Expenditure By Segment All numbers are in SAR million unless specified
-37.2%
+86.4%
670 421
371 199 YTD Jun’15
YTD Jun’16
Foods
YTD Jun’15
YTD Jun’16
Retail 8
Group Net Income Water Fall – Exceptional Items (YTD) SAR Mn
905 265
705 65
547 98 340
YTD June 2015
Capital Gain on sale of SPS
FX Impact Foods
YTD June 2015 (Clean Net Income)
YTD June 2016
20
Loss from Associate
89
FX Impact USD Sourcing YTD June Foods Foods 2016 (Clean Net Income)
Group clean NI fell by around 22.4% 9
Foods Highlights
10
Foods Highlights All numbers are in SAR million unless specified
Revenue
Q 2
Y T D
Gross Profit
Net Income
Volume (‘000MT)
3,103
507
135
931
-7.9% vs.LY
-6.1% vs. LY
-35.7% vs. LY
-0.4% vs. LY
5,922
906
191
1,782
-8.3% vs. LY
-7.5% vs. LY
-37.3% vs. LY
1.9% vs. LY
11
Foods Financial Highlights All numbers are in SAR million unless specified
Growth
YoY Sales
Margin
-8.3% -7.9%
-8.6%
3,087
2,820
Q1’15
Q1’16
3,369
3,103
Q2’15
Q2’16
6,456
5,922
YTD Jun’15
YTD Jun’16
-7.5%
YoY Gross Profit
-6.1%
-9.3%
439
399
Q1’15 14.2%
Q1’16 14.1%
979
906
Q2’16
YTD Jun’15
YTD Jun’16
16.3%
15.2%
15.3%
540
507
Q2’15 16.0%
12
Foods Financial Highlights All numbers are in SAR million unless specified
Growth
Margin
-11.0%
YoY EBITDA -8.3% -14.3%
617
275
236
Q1’15 8.9%
Q1’16 8.4%
342
314
Q2’15 10.2%
Q2’16 10.1%
549
YTD Jun’15
YTD Jun’16
9.6%
9.3%
YoY NI
-37.4% -35.7%
-40.7%
305
210 95 Q1’15 3.1%
56 Q1’16 2.0%
191
135
Q2’15
Q2’16
YTD Jun’15
YTD Jun’16
6.2%
4.4%
4.7%
3.2%
13
Revenue Breakdown By Category All numbers are in SAR million unless specified
-8.2% 6,455 4%
5,922 5%
24% 22%
72%
YTD Jun’15
Pasta YoY +7% Sugar YoY -13% Oil YoY -8%
73%
YTD Jun’16
14
Revenue Breakdown By Geography All numbers are in SAR million unless specified
-8.2% 6,455 2% 5% 4% 8% 23%
5,922 3% 3% 4% 7% 21%
20%
16%
38%
46%
YTD Jun’15
YTD Jun’16
Morocco YoY +10% Sudan YoY -46% Algeria YoY -8% Turkey YoY -9% Iran YoY -15% Egypt YoY -28% KSA YoY +10%
15
Volume Breakdown By Category Thousand tonnes unless specified otherwise
+1.9% 1,749
1,782
7%
9%
43%
47%
50%
45%
YTD Jun’15
YTD Jun’16
Pasta YoY +19% Sugar YoY +11% Oil YoY -9%
16
Volume Breakdown By Geography Thousand tonnes unless specified otherwise
+1.9% 1,749 2% 3% 4%
2%
1,782 2% 3% 4%
15%
14%
22%
24%
51%
51%
YTD Jun’15
YTD Jun’16
2%
Morocco YoY +11% Sudan YoY -3% Algeria YoY +12% Turkey YoY -8% Iran YoY -6% Egypt YoY +7% KSA YoY +2%
17
Retail Highlights
18
Retail Highlights All numbers are in SAR million unless specified
Revenue
Q 2
Y T D
Gross Profit
Net Income
Stores Openings
3,874
782
-80
7
+2.4% vs.LY
-3.8% vs. LY
NA vs. LY
3 Hyper 4 Super
7,145 1,607
-101
12
NA vs. LY
3 Hyper 8 Super 1 Pandati
+2.5% vs. LY
+4.8% vs. LY
19
Retail Financial Highlights All numbers are in SAR million unless specified
Growth
Margin
2.5%
YoY Sales 2.4%
2.5%
3,192
3,271
3,782
3,874
Q1’15
Q1’16
Q2’15
Q2’16
6,974
7,145
YTD Jun’15
YTD Jun’16
4.8%
YoY Gross Profit 14.5%
-3.8% 1,534
1,607
720
824
813
782
Q1’15 22.6%
Q1’16 25.2%
Q2’15 21.5%
Q2’16
YTD Jun’15
YTD Jun’16
20.2%
22.0%
22.5%
20
Retail Financial Highlights All numbers are in SAR million unless specified
Growth
YoY EBITDA
Margin
-37.9%
-66.6% 1.7%
110
263 163
153
112
51 Q1’15 3.5%
Q1’16 3.4%
Q2’15 4.0%
Q1’16 1.3%
YTD Jun’15 3.8%
YTD Jun’16 2.3%
YoY NI 67
48
18 -21
-101
-80 Q1’15
Q1’16
0.6%
-0.6 %
Q2’15 1.3%
Q2’16
YTD Jun’15
YTD Jun’16
-2.1%
1.0%
-1.4%
21
Number of Stores and Selling Area Super 154
Hyper 0
4
158 64
Q1’16
Openings
Closures
YTD’16
Q1’16
Q1’16
9
Openings
Closures
Openings
Closures
67
YTD’16 Selling Area 758,227 m2
Total 450
0
0
Selling Area 742,113 m2
Pandati
232
3
7
9
Openings
Closures
448
223
YTD’16
Q1’16
YTD’16 22
Number of Stores – By Quarter Super 152
2015
4
Q1’16
Hyper 2
4
158 64
Q2’16 Closures YTD’16
Pandati
2015
2015
1
Q1’16
0
60
0
Q1’16
Q2’16
Closures
Total
Selling Area 747,544 m2
498
282
0
3
5
7
Q1’16
Q2’16
67
YTD’16 Selling Area 758,227 m2
62
448
223
Q2’16 Closures YTD’16
2015
Closures YTD’16 23
Appendix
24
Quarterly Financials – Q1 2016 (all figures are in SAR millions) Segment Wise Financials Q1- 2016 Revenue Food Oil-Mature Markets Oil-Start-up Markets* Total Oil
Gross Profit
1,675 273 1,949
292 39 331
Sugar
733
37
Pasta
138
Total Foods Retail KSA Overseas Total Retail Real Estate Herfy Al Marai-Savola Share HQ/Elimination/Impairments Total Adjustments Impairments Capital gains Adjusted Profit
Q1- 2015
EBIT
Net Income
Revenue
Gross Profit
EBIT
Net Income
EBITDA
107 9 117
175 18 193
1,930 354 2,284
331 66 396
198 33 231
119 25 144
(3)
(67)
24
682
21
(24)
(52)
4
31
13
6
18
121
22
9
3
15
2,820
399
177
56
236
3,087
439
217
95
275
3,191 80 3,271
810 15 824
2 (1) 1
(16) (5) (21)
112 (0) 112
3,118 75 3,192
709 11 720
30 2 31
17 2 18
108 3 110
0 0 0 0
16 28 112 (48)
16 28 112 (98)
16 28 112 (48)
4 29 112 (23)
4 29 112 212
4 29 112 (19)
285
93
456
371
471
511
0 0 0 (68) 6,023
1,223
153 14 168
EBITDA
-
0 0 0 (55) 6,224
0 0 0 (0) 1,159
219 37 256
(265) 93
206
25
Quarterly Financials – Q2 2016 (all figures are in SAR millions) Segment Wise Financials Q2- 2016 Revenue Food Oil-Mature Markets Oil-Start-up Markets* Total Oil
Gross Profit
Q2- 2015
EBIT
Net Income
1,765 288 2,053
380 38 418
213 14 227
Sugar
886
49
Pasta
164
Total Foods Retail KSA Overseas Total Retail Real Estate Herfy Al Marai-Savola Share HQ/Elimination/Impairments Total
EBITDA
Revenue
Gross Profit
139 9 148
236 17 253
2,002 368 2,370
401 57 458
3
(31)
33
838
42
40
23
18
27
161
3,103
507
253
135
314
3,787 87 3,874
766 17 782
(61) (0) (61)
(80) 0 (80)
50 1 51
0 0 0 0
0 20 232 (29)
0 20 232 (60)
0 20 232 (13)
414
247
604
0 0 0 (86) 6,890
1,290
EBIT
Net Income
186 21 207
254 33 287
(0)
(17)
28
41
22
20
27
3,369
540
283
210
342
3,701 81 3,782
801 12 813
59 3 61
46 3 48
149 3 153
5 20 194 (21)
5 20 194 (43)
5 20 194 (17)
543
434
697
0 0 0 (114) 7,036
0 0 0 (0) 1,353
233 29 261
EBITDA
Adjustments Impairments Capital gains
-
-
Adjusted Profit
247
434
26
