Investor Presentation Q3 2015
Investor Presentation Q3 2015
Group Highlights
Group Highlights All numbers are in SAR million unless specified
Revenue
Q 3
Y T D
Gross Profit
Income from Operations
Net Income
5,877
1,263
372
372
-4.4% vs.LY
+9.7% vs. LY
-27.1% vs. LY +4.6% vs. guidance
-47% vs. LY
19,846
3,817
1,011
1,276
+0.6% vs. LY
+9.2% vs. LY
-29.2% vs. LY +5.1% vs. guidance
-22.1% vs.LY
Group Highlights – One offs Q1 2015: Capital gain of SAR 265 mln from the sale of SPS
Q3 2014:
Packaging income LY (SAR 14 mln) Adjustment to the gain from disposal of Kazakhstan last year (SAR 5 mln) Capital gain from selling Masharef land (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 4 mln) Extraordinary profit from real estate last year (SAR 112 mln) Diyar Al Mashriq share of loss (SAR 1.4 mln)
Group Financial Highlights All numbers are in SAR million unless specified
Margin Growth
YoY Sales +0.6%
19,846
19,727 +1.1%
+4.9%
-4.4%
6,241
6,547
7,337
7,421
6,150
5,877
Q1`14
Q1`15
Q2`14
Q2`15
Q3`14
Q3`15
YTD Sep`14 YTD Sep`15
YoY Gross Profit +9.2%
+9.4%
+7.9%
17.5%
18.0%
17.1%
17.7%
19.2%
3,495
3,817
+9.9%
18.5%
18.7%
21.5%
1,092
1,178
1,255
1,373
1,150
1,264
Q1`14
Q1`15
Q2`14
Q2`15
Q3`14
Q3`15
YTD Sep`14 YTD Sep`15
Group Financial Highlights All numbers are in SAR million unless specified
Growth
YoY NI from Operations -29.2%
1,428 -12.5%
-51.3%
-27.1%
1,011
423
206
496
434
509
372
Q1`14
Q1`15
Q2`14
Q2`15
Q3`14
Q3`15
YTD Sep`14 YTD Sep`15
YoY NI -22.1%
-46.9%
-15.4%
+11.3%
423
471
513
434
Q1`14
Q1`15
Q2`14
Q2`15
701 Q3`14
1,638
1,276
372 Q3`15
YTD Sep`14 YTD Sep`15
Revenue Mix by Business YTD All numbers are in SAR million unless specified
SEP 2014
SEP 2015
55% 45%
Foods
Retail
50% 3,092
50%
Foods
Retail
Foods Highlights
Foods Highlights All numbers are in SAR million unless specified
Revenue
Q 3
Y T D
Gross Profit
Net Income
Volume (‘000MT)
2,827
433
112
889
-15.3% vs.LY
+1.5% vs. LY
+2.2% vs. LY
-4.5% vs. LY
9,991
1,454
417
3,025
-8.5% vs. LY
Flat vs. LY
-12.9% vs. LY
+2% vs.LY
Foods Financial Highlights All numbers are in SAR million unless specified
Margin Growth
YoY Sales
-8.5% 10,920
-8.9%
-1.6% 3,464
3,410
Q1`14
Q1`15
-15.3%
4,120
3,754
3,337
2,827
Q2`14
Q2`15
Q3`14
Q3`15
YTD Sep`14 YTD Sep`15
YoY Gross Profit
12.9%
-0.1%
-3.7%
+3.0%
14.1%
9,991
13.3% 14.9%
13.5%
14.6%
+1.5%
15.3% 12.8%
447
460
581
559
427
433
Q1`14
Q1`15
Q2`14
Q2`15
Q3`14
Q3`15
1,455
1,454
YTD Sep`14 YTD Sep`15
Revenue Breakdown By Sector All numbers are in SAR million unless specified
-9%
10,920 4%
9,991 4%
33% 31%
64%
65%
Sep’14
Sep’15
Pasta YoY +6% Sugar YoY -14% Oil YoY -6%
Volume Breakdown By Geography +2% 2,965 2%
4% 14%
3,025 2% 3%
2%
4% 13%
35%
37%
43%
42%
Sep’14
Sep’15
2% 3%
Kazakhstan YoY -100% Morocco YoY +13% Algeria YoY +4% Sudan YoY +17% Turkey YoY +3% Iran YoY -4% Egypt YoY +10% KSA YoY 0%
Volume Breakdown By Sector +2% 2,965 6%
3,025 6%
55%
53%
39%
41%
Sep’14
Sep’15
Pasta YoY +13% Sugar YoY -3% Oil YoY +7%
Retail Highlights
Retail Highlights All numbers are in SAR million unless specified
Revenue
Q 3
Y T D
Gross Profit
Net Income
Stores Openings
3,092
830
51
23
+7.8% vs.LY
+14.6% vs. LY
-66.1% vs. LY
3 supermarkets including 1 in Egypt 20 Pandati
10,066
2,364
118
139
+10.9% vs. LY
+15.8% vs. LY
-60.3% vs. LY
3 Hyper 13 Super 123 Pandati
Retail Financial Highlights All numbers are in SAR million unless specified
+12.2%
YoY Sales
8,970 +13.3%
+15.2%
2,818
3,192
Q1`14
Q1`15
3,782
2,868
3,092
Q2`14
Q2`15
Q3`14
Q3`15
YoY Gross Profit
22.6%
25.3%
20.4% 21.5%
YTD Sep`14 YTD Sep`15
+15.8%
+14.2%
+21.4%
23.0%
10,066
+7.8%
3,283
+11.3%
Margin Growth
22.7%
23.5%
2,041
2,364
26.8%
648
721
670
813
726
829
Q1`14
Q1`15
Q2`14
Q2`15
Q3`14
Q3`15
YTD Sep`14 YTD Sep`15
Number of Stores and Selling Area Super 131
2014
4
6
Q1’15
Q2’15
Hyper 3
Q3’15
144
YTD’15
60
2
1
0
2014
Q1’15
Q2’15
Q3’15
Pandati
49 155
54
2014
Q1’15
Q2’15
20
Q3’15
56
278
346
60
YTD’15
2014
Q1’15
Q2’15
YTD’15 Selling Area 722,724 m2
Total Selling Area 650,861 m2
63
23
Q3’15
485
YTD’15
Appendix
Quarterly Financials – Q3 (all figures are in SAR millions) Segment Wise Financials Q3- 2015 Revenue Food Oil-Mature Markets Oil-Start-up Markets* Total Oil
Gross Profit
EBIT
Q3- 2014 Net Income
EBITDA
Revenue
Gross Profit
EBIT
Net Income
EBITDA
1,531 314 1,845
297 42 339
167 16 183
109 9 119
188 20 209
1,683 378 2,061
279 68 347
157 33 190
96 23 120
178 38 215
Sugar
859
69
17
(17)
51
1,165
63
19
(17)
53
Pasta
123
25
14
10
19
110
16
6
6
11
2,827
433
213
112
278
3,337
427
214
109
279
3,018 74 3,092
818 12 830
2,796 72 2,868
713 11 724
159 2 161
148 2 150
231 3 233
71 0 21 197 (16)
71 14 21 197 140
71 0 21 197 (13)
648
701
788
Total Foods Retail KSA Overseas Total Retail Real Estate Discontinued Operation Herfy Al Marai-Savola Share HQ/Elimination/Impairments Total
0 0 0 0 (42) 5,877
0 0 0 0 (0) 1,263
68 (2) 66
53 (2) 51
165 (1) 164
6 0 27 217 (19)
6 0 27 217 (42)
6 0 27 217 (12)
511
372
681
Adjustments Impairments Capital gains
-
Adjusted Profit
372
* Start-up markets include Algeria, Morocco and Sudan
0 0 0 0 (55) 6,150
0 0 0 0 (0) 1,151
(192) 509
Quarterly Financials – Q2 (all figures are in SAR millions) Segment Wise Financials Q2- 2015 Revenue Food Oil-Mature Markets Oil-Start-up Markets* Total Oil
Gross Profit
EBIT
Q2- 2014 Net Income
EBITDA
Revenue
Gross Profit
EBIT
Net Income
EBITDA
2,002 368 2,370
401 57 458
233 29 261
186 21 207
254 33 287
2,168 401 2,569
371 69 440
228 32 260
150 28 178
250 36 286
Sugar
1,223
60
11
(17)
47
1,398
117
67
13
103
Pasta
161
41
22
20
27
153
26
17
16
21
3,754
559
295
210
361
4,120
583
344
207
410
3,701 81 3,782
801 12 813
59 3 61
46 3 48
149 3 153
3,201 82 3,283
657 12 669
81 1 82
73 1 74
150 2 152
5 0 20 194 (21)
5 0 20 194 (43)
5 0 20 194 (17)
39 0 28 158 20
39 18 28 158 (11)
39 0 28 158 26
554
434
716
671
513
813
Total Foods Retail KSA Gulf Total Retail Real Estate Discontinued Operation Herfy Al Marai-Savola Share HQ/Elimination/Impairments Total
0 0 0 0 (114) 7,421
0 0 0 0 (0) 1,372
0 0 0 0 (67) 7,337
0 0 0 0 (0) 1,251
Adjustments Impairments Capital gains
-
(17)
Adjusted Profit
434
496
* Start-up markets include Algeria, Morocco and Sudan
Quarterly Financials – Q1 (all figures are in SAR millions) Segment Wise Financials Q1- 2015 Revenue Food Oil-Mature Markets Oil-Start-up Markets* Total Oil
Gross Profit
1,930 354 2,284
331 66 396
Sugar
1,006
44
Pasta
121
Total Foods Retail KSA Gulf Total Retail Real Estate Discontinued Operation Herfy Al Marai-Savola Share HQ/Elimination/Impairments Total
Q1- 2014
EBIT
Net Income
Revenue
Gross Profit
EBIT
Net Income
119 25 144
219 37 256
1,995 312 2,307
342 42 384
211 11 221
(8)
(52)
27
1,037
48
22
9
3
15
120
3,410
462
233
95
298
3,118 75 3,192
709 11 720
30 2 31
17 2 18
108 3 110
4 0 29 112 (23)
4 0 29 112 212
4 0 29 112 (19)
386
471
534
0 0 0 0 (55) 6,547
Adjustments Impairments Capital gains Adjusted Profit * Start-up markets include Algeria, Morocco and Sudan
0 0 0 0 (0) 1,182
198 33 231
EBITDA
(265) 206
EBITDA
172 4 175
233 17 250
8
(17)
39
14
5
4
10
3,464
446
234
162
299
2,738 80 2,818
637 11 647
78 2 80
70 2 72
146 2 148
111 0 25 100 (20)
111 5 25 100 (52)
111 0 25 100 (14)
531
423
669
0 0 0 0 (41) 6,241
0 0 0 0 0 1,093
423
Group Highlights
Group Highlights All numbers are in SAR million unless specified
Revenue
Q 3
Y T D
Gross Profit
Income from Operations
Net Income
5,877
1,263
372
372
-4.4% vs.LY
+9.7% vs. LY
-27.1% vs. LY +4.6% vs. guidance
-47% vs. LY
19,846
3,817
1,011
1,276
+0.6% vs. LY
+9.2% vs. LY
-29.2% vs. LY +5.1% vs. guidance
-22.1% vs.LY
Group Highlights – One offs Q1 2015: Capital gain of SAR 265 mln from the sale of SPS
Q3 2014:
Packaging income LY (SAR 14 mln) Adjustment to the gain from disposal of Kazakhstan last year (SAR 5 mln) Capital gain from selling Masharef land (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 4 mln) Extraordinary profit from real estate last year (SAR 112 mln) Diyar Al Mashriq share of loss (SAR 1.4 mln)
Group Financial Highlights All numbers are in SAR million unless specified
Margin Growth
YoY Sales +0.6%
19,846
19,727 +1.1%
+4.9%
-4.4%
6,241
6,547
7,337
7,421
6,150
5,877
Q1`14
Q1`15
Q2`14
Q2`15
Q3`14
Q3`15
YTD Sep`14 YTD Sep`15
YoY Gross Profit +9.2%
+9.4%
+7.9%
17.5%
18.0%
17.1%
17.7%
19.2%
3,495
3,817
+9.9%
18.5%
18.7%
21.5%
1,092
1,178
1,255
1,373
1,150
1,264
Q1`14
Q1`15
Q2`14
Q2`15
Q3`14
Q3`15
YTD Sep`14 YTD Sep`15
Group Financial Highlights All numbers are in SAR million unless specified
Growth
YoY NI from Operations -29.2%
1,428 -12.5%
-51.3%
-27.1%
1,011
423
206
496
434
509
372
Q1`14
Q1`15
Q2`14
Q2`15
Q3`14
Q3`15
YTD Sep`14 YTD Sep`15
YoY NI -22.1%
-46.9%
-15.4%
+11.3%
423
471
513
434
Q1`14
Q1`15
Q2`14
Q2`15
701 Q3`14
1,638
1,276
372 Q3`15
YTD Sep`14 YTD Sep`15
Revenue Mix by Business YTD All numbers are in SAR million unless specified
SEP 2014
SEP 2015
55% 45%
Foods
Retail
50% 3,092
50%
Foods
Retail
Foods Highlights
Foods Highlights All numbers are in SAR million unless specified
Revenue
Q 3
Y T D
Gross Profit
Net Income
Volume (‘000MT)
2,827
433
112
889
-15.3% vs.LY
+1.5% vs. LY
+2.2% vs. LY
-4.5% vs. LY
9,991
1,454
417
3,025
-8.5% vs. LY
Flat vs. LY
-12.9% vs. LY
+2% vs.LY
Foods Financial Highlights All numbers are in SAR million unless specified
Margin Growth
YoY Sales
-8.5% 10,920
-8.9%
-1.6% 3,464
3,410
Q1`14
Q1`15
-15.3%
4,120
3,754
3,337
2,827
Q2`14
Q2`15
Q3`14
Q3`15
YTD Sep`14 YTD Sep`15
YoY Gross Profit
12.9%
-0.1%
-3.7%
+3.0%
14.1%
9,991
13.3% 14.9%
13.5%
14.6%
+1.5%
15.3% 12.8%
447
460
581
559
427
433
Q1`14
Q1`15
Q2`14
Q2`15
Q3`14
Q3`15
1,455
1,454
YTD Sep`14 YTD Sep`15
Revenue Breakdown By Sector All numbers are in SAR million unless specified
-9%
10,920 4%
9,991 4%
33% 31%
64%
65%
Sep’14
Sep’15
Pasta YoY +6% Sugar YoY -14% Oil YoY -6%
Volume Breakdown By Geography +2% 2,965 2%
4% 14%
3,025 2% 3%
2%
4% 13%
35%
37%
43%
42%
Sep’14
Sep’15
2% 3%
Kazakhstan YoY -100% Morocco YoY +13% Algeria YoY +4% Sudan YoY +17% Turkey YoY +3% Iran YoY -4% Egypt YoY +10% KSA YoY 0%
Volume Breakdown By Sector +2% 2,965 6%
3,025 6%
55%
53%
39%
41%
Sep’14
Sep’15
Pasta YoY +13% Sugar YoY -3% Oil YoY +7%
Retail Highlights
Retail Highlights All numbers are in SAR million unless specified
Revenue
Q 3
Y T D
Gross Profit
Net Income
Stores Openings
3,092
830
51
23
+7.8% vs.LY
+14.6% vs. LY
-66.1% vs. LY
3 supermarkets including 1 in Egypt 20 Pandati
10,066
2,364
118
139
+10.9% vs. LY
+15.8% vs. LY
-60.3% vs. LY
3 Hyper 13 Super 123 Pandati
Retail Financial Highlights All numbers are in SAR million unless specified
+12.2%
YoY Sales
8,970 +13.3%
+15.2%
2,818
3,192
Q1`14
Q1`15
3,782
2,868
3,092
Q2`14
Q2`15
Q3`14
Q3`15
YoY Gross Profit
22.6%
25.3%
20.4% 21.5%
YTD Sep`14 YTD Sep`15
+15.8%
+14.2%
+21.4%
23.0%
10,066
+7.8%
3,283
+11.3%
Margin Growth
22.7%
23.5%
2,041
2,364
26.8%
648
721
670
813
726
829
Q1`14
Q1`15
Q2`14
Q2`15
Q3`14
Q3`15
YTD Sep`14 YTD Sep`15
Number of Stores and Selling Area Super 131
2014
4
6
Q1’15
Q2’15
Hyper 3
Q3’15
144
YTD’15
60
2
1
0
2014
Q1’15
Q2’15
Q3’15
Pandati
49 155
54
2014
Q1’15
Q2’15
20
Q3’15
56
278
346
60
YTD’15
2014
Q1’15
Q2’15
YTD’15 Selling Area 722,724 m2
Total Selling Area 650,861 m2
63
23
Q3’15
485
YTD’15
Appendix
Quarterly Financials – Q3 (all figures are in SAR millions) Segment Wise Financials Q3- 2015 Revenue Food Oil-Mature Markets Oil-Start-up Markets* Total Oil
Gross Profit
EBIT
Q3- 2014 Net Income
EBITDA
Revenue
Gross Profit
EBIT
Net Income
EBITDA
1,531 314 1,845
297 42 339
167 16 183
109 9 119
188 20 209
1,683 378 2,061
279 68 347
157 33 190
96 23 120
178 38 215
Sugar
859
69
17
(17)
51
1,165
63
19
(17)
53
Pasta
123
25
14
10
19
110
16
6
6
11
2,827
433
213
112
278
3,337
427
214
109
279
3,018 74 3,092
818 12 830
2,796 72 2,868
713 11 724
159 2 161
148 2 150
231 3 233
71 0 21 197 (16)
71 14 21 197 140
71 0 21 197 (13)
648
701
788
Total Foods Retail KSA Overseas Total Retail Real Estate Discontinued Operation Herfy Al Marai-Savola Share HQ/Elimination/Impairments Total
0 0 0 0 (42) 5,877
0 0 0 0 (0) 1,263
68 (2) 66
53 (2) 51
165 (1) 164
6 0 27 217 (19)
6 0 27 217 (42)
6 0 27 217 (12)
511
372
681
Adjustments Impairments Capital gains
-
Adjusted Profit
372
* Start-up markets include Algeria, Morocco and Sudan
0 0 0 0 (55) 6,150
0 0 0 0 (0) 1,151
(192) 509
Quarterly Financials – Q2 (all figures are in SAR millions) Segment Wise Financials Q2- 2015 Revenue Food Oil-Mature Markets Oil-Start-up Markets* Total Oil
Gross Profit
EBIT
Q2- 2014 Net Income
EBITDA
Revenue
Gross Profit
EBIT
Net Income
EBITDA
2,002 368 2,370
401 57 458
233 29 261
186 21 207
254 33 287
2,168 401 2,569
371 69 440
228 32 260
150 28 178
250 36 286
Sugar
1,223
60
11
(17)
47
1,398
117
67
13
103
Pasta
161
41
22
20
27
153
26
17
16
21
3,754
559
295
210
361
4,120
583
344
207
410
3,701 81 3,782
801 12 813
59 3 61
46 3 48
149 3 153
3,201 82 3,283
657 12 669
81 1 82
73 1 74
150 2 152
5 0 20 194 (21)
5 0 20 194 (43)
5 0 20 194 (17)
39 0 28 158 20
39 18 28 158 (11)
39 0 28 158 26
554
434
716
671
513
813
Total Foods Retail KSA Gulf Total Retail Real Estate Discontinued Operation Herfy Al Marai-Savola Share HQ/Elimination/Impairments Total
0 0 0 0 (114) 7,421
0 0 0 0 (0) 1,372
0 0 0 0 (67) 7,337
0 0 0 0 (0) 1,251
Adjustments Impairments Capital gains
-
(17)
Adjusted Profit
434
496
* Start-up markets include Algeria, Morocco and Sudan
Quarterly Financials – Q1 (all figures are in SAR millions) Segment Wise Financials Q1- 2015 Revenue Food Oil-Mature Markets Oil-Start-up Markets* Total Oil
Gross Profit
1,930 354 2,284
331 66 396
Sugar
1,006
44
Pasta
121
Total Foods Retail KSA Gulf Total Retail Real Estate Discontinued Operation Herfy Al Marai-Savola Share HQ/Elimination/Impairments Total
Q1- 2014
EBIT
Net Income
Revenue
Gross Profit
EBIT
Net Income
119 25 144
219 37 256
1,995 312 2,307
342 42 384
211 11 221
(8)
(52)
27
1,037
48
22
9
3
15
120
3,410
462
233
95
298
3,118 75 3,192
709 11 720
30 2 31
17 2 18
108 3 110
4 0 29 112 (23)
4 0 29 112 212
4 0 29 112 (19)
386
471
534
0 0 0 0 (55) 6,547
Adjustments Impairments Capital gains Adjusted Profit * Start-up markets include Algeria, Morocco and Sudan
0 0 0 0 (0) 1,182
198 33 231
EBITDA
(265) 206
EBITDA
172 4 175
233 17 250
8
(17)
39
14
5
4
10
3,464
446
234
162
299
2,738 80 2,818
637 11 647
78 2 80
70 2 72
146 2 148
111 0 25 100 (20)
111 5 25 100 (52)
111 0 25 100 (14)
531
423
669
0 0 0 0 (41) 6,241
0 0 0 0 0 1,093
423
