Update on Five Year Plan
Almarai Company 2012 1st Half Earnings Presentation
Disclaimer Information contained in this presentation is subject to change without further notice, its accuracy is not guaranteed and it may not contain all material information concerning the company. Neither we nor our advisors make any representation regarding, and assume no responsibility or liability for, the accuracy or completeness of, or any errors or omissions in, to any information contained herein.
In addition, the information contains projections and forward-looking statements that reflect the company’s current views with respect to future events and financial performance. These views are based on current assumptions which are subject to various risks and may change over time. No assurance can be given that future events will occur, that projections will be achieved, or that the company’s assumptions are correct. Actual results may differ materially from those projected. This presentation is strictly not to be distributed without the explicit consent of Almarai Company management under any circumstances.
Almarai Company
2012 Q2 Earnings Presentation
2
Performance Highlights – 1st H, 2012 Q2 2012
Group Revenue Group Revenue excluding IDJ
Net Income
1st Half 2012
SAR ' M
Growth over last year
SAR ' M
Growth over last year
2,524.1
25.4%
4,564.5
21.5%
2,359.6
17.2%
4,399.9
17.1%
379.5
8.7%
621.6
6.4%
Revenue growth of 21.5% driven by core business and inclusion of IDJ results in the top line. Core business revenue grew by 20.0% driven by poultry 47.8%, bakery 34.3%, juice 33.5% Net Income grew 6.4% compared with H1, 2011. The income growth lags
revenue growth due to delayed impact of commodity price softening and higher overhead in line with capacity growth, which is yet to match revenue growth. Net Operating cash flow 870 million, down by 0.1% Capital expenditure spend on a ytd basis stood at 1.7 billion SAR 24 additional NPDs launched in 1st Half of 2012. Staff strength now stands at 23,319 at end of June 2012
Almarai Company
2012 Q2 Earnings Presentation
3
Product innovation: Growth driver
Almarai Company
2012 Q2 Earnings Presentation
4
Statement of Income – IDJ Consolidated SAR million
2nd Quarter 2012 2 0 1 1 Change
Net Sales Cost of sales
2,524.1 2,012.9 (1,602.4) (1,236.0)
2012
1st Half 2011
Change
25.4% 29.6%
4,564.5 3,756.4 (2,935.5) (2,345.5)
21.5% 25.2% 15.5% 28.7% 16.2%
Gross Profit Selling and Distribution Expenses General and Administration Expenses
921.7 (403.4) (83.7)
776.8 (303.0) (68.1)
18.7% 33.2% 23.0%
1,629.0 (748.1) (153.9)
1,411.0 (581.3) (132.5)
EBIT Share of Results of Associates Bank Charges
434.6 (5.4) (42.3)
405.8 (3.5) (41.3)
7.1% 55.0% 2.2%
727.0 (17.7) (69.7)
697.2 (10.4) (81.1)
4.3% 70.2% (14.1%)
386.9
360.9
7.2%
639.7
605.7
5.6%
Income from Main and Continuing Operations Zakat
(13.1)
Net income before Minority Interest Minority Interest
373.8 5.7
Net Income Net Income %
379.5 15.0%
Almarai Company
(9.3)
40.6%
351.6 6.3% (2.4) (340.0%) 349.3 17.4%
2012 Q2 Earnings Presentation
8.7%
(21.0)
(15.7)
33.6%
618.7 2.9
590.0 (5.5)
4.9% (153.1%)
621.6 13.6%
584.5 15.6%
6.4%
5
Sales Analysis by Product & Region – IDJ Consolidated Sales by Product
Sales by CountryUAE – 1st Half 2012 Oman Bahrain 10.4% 2.1%
1st Ha lf
Sa les by Pr oduct G r oup SAR M illion Fresh Dairy Long-Life Dairy Fruit Juice Cheese & Butter Bakery Poultry Arable and Horticulture Other Sales T ota l Sa les
2 012
2 011
1,836.4 476.9 542.8 782.8 618.5 214.5 64.3 28.3
1,615.4 371.9 406.5 721.2 460.5 145.1 24.0 11.8
4,5 64.5
3,75 6.4
5.4%
Qatar 4.3%
% cha nge 13.7% 28.2% 33.5% 8.5% 34.3% 47.8% 167.8% 139.7% 2 1.5 %
Kuwait 4.7%
Egypt 2.4% Jordan 1.2% Export / Others 1.5%
KSA 68.0%
Participation vs Growth - 1st Half 2012 Pa rticipation 1st Half 2012
G r owth 1st Half 2012 v 1st Half 2011
Poultry
4. 7%
47.8%
L ong-Life Dairy
1 0.4%
2 8.2%
Fr uit Juice
1 1.9%
3 3 .5%
Ba kery
1 3.6%
3 4.3%
Cheese & Butter
1 7.1%
8 .5%
40 .2%
1 3.7%
Fr esh Dairy 0% 40 %
Almarai Company
10% 30%
2 0% 20%
30% 10 %
40% 0%
510% 0%
2012 Q2 Earnings Presentation
60% 20%
70% 30%
80% 40%
90%
6
Sales Revenue Growth by Region 4,564
YOY Growth
21.5% 3,756
16.1% 3,102 2,673
17.6% 1,228
1,044
504.6% 2 34
39
H1 2012 H1 2011
H1 2012 H1 2011
H1 2012 H1 2011
H1 2012 H1 2011
KSA
GCC
All Other Countires
Total
Almarai Company
2012 Q2 Earnings Presentation
7
Robust revenue growth with challenging – but anticipated – EBIT trend Revenue and Net Operating Income Evolution
2 1.0% 2 0.1%
2 0.7%
2 1.0%
2 1.8%
2 1.1%
19.4%
19.1%
SAR in Million
7 ,951 6 ,931
CAGR 2004 – 2011: 22.8% (w/o impact of acquisitions 19.6%)
8,759 18. 0%
17.7%
5,869 5,030 3, 770 2,757 1, 885
2 004
2,146
2 005
2 006
2 007
2 008
2 009
2 010
2 011
la st 12 Months
* Net Operating income % is lowered to 18.0% excluding the impact of IDJ consolidation.
Almarai Company
2012 Q2 Earnings Presentation
8
50
Almarai Company 100
2 42.1
2 35.2
2012 Q2 Earnings Presentation 2 85.5
2 83.5
2 48.8
2 19.2
193.1
42 9.7
42 4.5
363.4
2 93.7
379.5
349.3
250
130.2
186.1
12 2.6
200
343.1
2 87.1
2 35.2
165.3
12 1.8
150
2 34.1
197.4
162 .2
12 2.8
90.6
S AR Million
Quarterly Performance – Net Income 500
450
400
350
300
0
9
Cash Flow Statement (1st Half) 2,000 1,800
SA R Million
1,600
730.2
1,400
1,584.6
1,200
Strong revenue growth resulted in positive operating cash flow….
1,000
869.3
800 6 00 4 00 200
286.9
272.0
0
Cash at beginning From Operating of period Activities
SAR Million From Operating Activities Used in Investing Activities From Financing Activities Increase/(Decrease) in Cash Cash at beginning of period Cash at end of period
Almarai Company
1st Half 2012 2011 869.3 870.4 (1,584.6) (1,390.9) 730.2 523.1 14.9 2.5 272.0 240.8 286.9 243.2
From Financing Used in Investing Activities Activities
Cash at end of period
….but additional capex investment especially for poultry (800m) resulted in negative free cash flow of 715.3m
2012 Q2 Earnings Presentation
10
Cash Flow Bridge (rolling 12 months) 1,000
3,098
1,063 Sukuk
1,890 Loans Issues / Others
512 Capex
243.2
Cash June 2011
Almarai Company
299 286.9
Dividend Operating Cash Flow
Investment in Subsidiary
+ SAR 43.7 m
2012 Q2 Earnings Presentation
Cash June 2012
11
Balance Sheet S AR M i l l i on
3 0 .0 6.12
3 0 .0 6.11
Net Operating Working Capital Biological Assets
1,182 870
702 795
Property, Plant and Equipment
12,426
8,997
Net Operating Assets Intangible Assets - Goodwill Investment and Financial Assets & Deferred Charges
14,478 1,383
10,494 793
494
958
16,355
12,246
Net Debt Employee Termination Benefits Deferred Tax (Net) Total Equity Net Capital Employed
8,385 266 131 7,573 16,355
5,774 223 6,249 12,246
Net Debt to Equity Ratio
110.7%
92.4%
Almarai Company
2012 Q2 Earnings Presentation
12
Segment Reporting S AR M i l l i on 1st H al f 20 12 Sales Third Party Sales Net Depreciation Income/(loss) before Minority Interest Total Assets Total Liabilities Return on Sales Growth versus 1st Half 2011 - Third Party Sales - Income before Minority Interest Q 2 20 12 Sales Third Party Sales Net Depreciation Income/(loss) before Minority Interest Total Assets Total Liabilities Return on Sales Growth versus Q2 2011 - Third Party Sales - Income before Minority Interest
Almarai Company
D ai ry & Ju i ce
Bak ery
P ou l try
Arabl e an d H orti cu l tu re
O th er Acti vi ti es
Al marai C on sol i dated
4,660.8 4,564.5 (327.3)
3,673.6 3,667.2 (219.1)
618.5 618.5 (53.9)
214.5 214.5 (20.6)
154.2 64.3 (33.8)
0.0 0.0 0.0
589.6
81.5
(45.4)
12.6
(19.6)
618.7
10,692.2 (9,610.2)
1,994.2 (276.1)
2,964.1 (240.2)
1,647.8 (191.7)
1,116.3 (523.3)
18,414.6 (10,841.6)
16.1%
13.2%
(21.2%)
19.5%
n.a.
13.6%
17.3%
34.3%
47.8%
167.8%
n.a.
21.5%
3.2%
83.2%
n.a.
(161.2%)
112.3%
4.9%
2,034.6 2,031.5 (116.8)
325.0 325.0 (27.8)
119.1 119.1 (10.5)
129.7 48.6 (17.1)
0.0 0.0 0.0
2,608.4 2,524.1 (172.2)
46.3
(13.4)
32.6
(10.4)
373.8
318.7 328.9 (1,063.6)
28.9 (6.9)
492.6 16.3
(2.6) 17.0
(135.4) 6.7
712.3 (1,030.6)
15.7%
14.3%
(11.3%)
67.2%
n.a.
14.8%
22.5%
30.5%
45.8%
109.9%
n.a.
25.4%
(0.3%)
105.4%
n.a.
228.8%
171.5%
6.3%
2012 Q2 Earnings Presentation
13
Operational Update
Almarai Company
2012 Q2 Earnings Presentation
14
2012: Key Focus Areas
1
Deliver growth across all product portfolio
2
Improve group margin %
3
Manage cash flow
4
Integrate other business units
Almarai Company
Expand distribution across GCC, with special emphasis on poultry and bakery Continue exploring new product development revenues
Manage procurement process in line with inventory cover requirements. Focus on value add products to enhance margin %
• •
Cost control across all categories and functional areas Manage funding structure
Focus on Fondomonte integration with farming division at Almarai. Integrate and improve on IDJ business in line with Almarai business model
2012 Q2 Earnings Presentation
15
Progress against Key Focus Areas
Almarai Company
2012 Q2 Earnings Presentation
16
1
Deliver Growth across all product portfolio Well underway
Still to achieve
Strong H1 results including strong bakery results buoyed by GCC distribution Sales growth is expected to continue for rest of the year, particularly for juice product range Poultry products were launched in Qatar & Bahrain in Q2. Expansion will continue in other GCC countries and current distribution facilities will be further developed
Almarai Company
Launch poultry across all GCC countries. Full range of bakery to be available across GCC Commissioning of poultry plant by Q4, 2012
2012 Q2 Earnings Presentation
17
3
Margin areas of focus Still to achieve
Well underway
SMP
Cost of most commodities is showing signs of stabilisation / reduction over last year. This cost advantage is expected to materialise in H2, 2012. Strong product innovation & value added products to continue and accelerate as the year progresses
Almarai Company
Product improvement projects to continue deliver quality value to our customers
2012 Q2 Earnings Presentation
18
4
Cash Flow Management Well underway
Still to achieve
Inter divisional collaboration
Cost control across all categories and functional areas Debt management program to keep funding cost in check
Almarai Company
Focus on supply chain and streamlining end to end inventory movement Working capital – creditor management
2012 Q2 Earnings Presentation
19
4
Integration of other business units Still to achieve
Well underway
Changes in key management positions
Integration of Fondomonte business with Almarai financial and operational units continues well in Q2 Additional focus will be placed in next quarters to integrate and improve on IDJ business in line with Almarai business model. Key management changes have taken place by Q2 and operational focus will follow in Q3/Q4.
Almarai Company
Implement operational & control policies in both Fondomonte & IDJ
2012 Q2 Earnings Presentation
20
Q&A
Almarai Company
2012 Q2 Earnings Presentation
21
Thank you
Almarai Company Exit 7, North Circle Road Al Izdihar District P.O. Box 8524 Riyadh, 11492 Saudi Arabia Contact for investor relations matters: Khalid M. Al Nasser +966 1 470 00 05 ext 1280 [email protected]
Disclaimer Information contained in this presentation is subject to change without further notice, its accuracy is not guaranteed and it may not contain all material information concerning the company. Neither we nor our advisors make any representation regarding, and assume no responsibility or liability for, the accuracy or completeness of, or any errors or omissions in, to any information contained herein.
In addition, the information contains projections and forward-looking statements that reflect the company’s current views with respect to future events and financial performance. These views are based on current assumptions which are subject to various risks and may change over time. No assurance can be given that future events will occur, that projections will be achieved, or that the company’s assumptions are correct. Actual results may differ materially from those projected. This presentation is strictly not to be distributed without the explicit consent of Almarai Company management under any circumstances.
Almarai Company
2012 Q2 Earnings Presentation
2
Performance Highlights – 1st H, 2012 Q2 2012
Group Revenue Group Revenue excluding IDJ
Net Income
1st Half 2012
SAR ' M
Growth over last year
SAR ' M
Growth over last year
2,524.1
25.4%
4,564.5
21.5%
2,359.6
17.2%
4,399.9
17.1%
379.5
8.7%
621.6
6.4%
Revenue growth of 21.5% driven by core business and inclusion of IDJ results in the top line. Core business revenue grew by 20.0% driven by poultry 47.8%, bakery 34.3%, juice 33.5% Net Income grew 6.4% compared with H1, 2011. The income growth lags
revenue growth due to delayed impact of commodity price softening and higher overhead in line with capacity growth, which is yet to match revenue growth. Net Operating cash flow 870 million, down by 0.1% Capital expenditure spend on a ytd basis stood at 1.7 billion SAR 24 additional NPDs launched in 1st Half of 2012. Staff strength now stands at 23,319 at end of June 2012
Almarai Company
2012 Q2 Earnings Presentation
3
Product innovation: Growth driver
Almarai Company
2012 Q2 Earnings Presentation
4
Statement of Income – IDJ Consolidated SAR million
2nd Quarter 2012 2 0 1 1 Change
Net Sales Cost of sales
2,524.1 2,012.9 (1,602.4) (1,236.0)
2012
1st Half 2011
Change
25.4% 29.6%
4,564.5 3,756.4 (2,935.5) (2,345.5)
21.5% 25.2% 15.5% 28.7% 16.2%
Gross Profit Selling and Distribution Expenses General and Administration Expenses
921.7 (403.4) (83.7)
776.8 (303.0) (68.1)
18.7% 33.2% 23.0%
1,629.0 (748.1) (153.9)
1,411.0 (581.3) (132.5)
EBIT Share of Results of Associates Bank Charges
434.6 (5.4) (42.3)
405.8 (3.5) (41.3)
7.1% 55.0% 2.2%
727.0 (17.7) (69.7)
697.2 (10.4) (81.1)
4.3% 70.2% (14.1%)
386.9
360.9
7.2%
639.7
605.7
5.6%
Income from Main and Continuing Operations Zakat
(13.1)
Net income before Minority Interest Minority Interest
373.8 5.7
Net Income Net Income %
379.5 15.0%
Almarai Company
(9.3)
40.6%
351.6 6.3% (2.4) (340.0%) 349.3 17.4%
2012 Q2 Earnings Presentation
8.7%
(21.0)
(15.7)
33.6%
618.7 2.9
590.0 (5.5)
4.9% (153.1%)
621.6 13.6%
584.5 15.6%
6.4%
5
Sales Analysis by Product & Region – IDJ Consolidated Sales by Product
Sales by CountryUAE – 1st Half 2012 Oman Bahrain 10.4% 2.1%
1st Ha lf
Sa les by Pr oduct G r oup SAR M illion Fresh Dairy Long-Life Dairy Fruit Juice Cheese & Butter Bakery Poultry Arable and Horticulture Other Sales T ota l Sa les
2 012
2 011
1,836.4 476.9 542.8 782.8 618.5 214.5 64.3 28.3
1,615.4 371.9 406.5 721.2 460.5 145.1 24.0 11.8
4,5 64.5
3,75 6.4
5.4%
Qatar 4.3%
% cha nge 13.7% 28.2% 33.5% 8.5% 34.3% 47.8% 167.8% 139.7% 2 1.5 %
Kuwait 4.7%
Egypt 2.4% Jordan 1.2% Export / Others 1.5%
KSA 68.0%
Participation vs Growth - 1st Half 2012 Pa rticipation 1st Half 2012
G r owth 1st Half 2012 v 1st Half 2011
Poultry
4. 7%
47.8%
L ong-Life Dairy
1 0.4%
2 8.2%
Fr uit Juice
1 1.9%
3 3 .5%
Ba kery
1 3.6%
3 4.3%
Cheese & Butter
1 7.1%
8 .5%
40 .2%
1 3.7%
Fr esh Dairy 0% 40 %
Almarai Company
10% 30%
2 0% 20%
30% 10 %
40% 0%
510% 0%
2012 Q2 Earnings Presentation
60% 20%
70% 30%
80% 40%
90%
6
Sales Revenue Growth by Region 4,564
YOY Growth
21.5% 3,756
16.1% 3,102 2,673
17.6% 1,228
1,044
504.6% 2 34
39
H1 2012 H1 2011
H1 2012 H1 2011
H1 2012 H1 2011
H1 2012 H1 2011
KSA
GCC
All Other Countires
Total
Almarai Company
2012 Q2 Earnings Presentation
7
Robust revenue growth with challenging – but anticipated – EBIT trend Revenue and Net Operating Income Evolution
2 1.0% 2 0.1%
2 0.7%
2 1.0%
2 1.8%
2 1.1%
19.4%
19.1%
SAR in Million
7 ,951 6 ,931
CAGR 2004 – 2011: 22.8% (w/o impact of acquisitions 19.6%)
8,759 18. 0%
17.7%
5,869 5,030 3, 770 2,757 1, 885
2 004
2,146
2 005
2 006
2 007
2 008
2 009
2 010
2 011
la st 12 Months
* Net Operating income % is lowered to 18.0% excluding the impact of IDJ consolidation.
Almarai Company
2012 Q2 Earnings Presentation
8
50
Almarai Company 100
2 42.1
2 35.2
2012 Q2 Earnings Presentation 2 85.5
2 83.5
2 48.8
2 19.2
193.1
42 9.7
42 4.5
363.4
2 93.7
379.5
349.3
250
130.2
186.1
12 2.6
200
343.1
2 87.1
2 35.2
165.3
12 1.8
150
2 34.1
197.4
162 .2
12 2.8
90.6
S AR Million
Quarterly Performance – Net Income 500
450
400
350
300
0
9
Cash Flow Statement (1st Half) 2,000 1,800
SA R Million
1,600
730.2
1,400
1,584.6
1,200
Strong revenue growth resulted in positive operating cash flow….
1,000
869.3
800 6 00 4 00 200
286.9
272.0
0
Cash at beginning From Operating of period Activities
SAR Million From Operating Activities Used in Investing Activities From Financing Activities Increase/(Decrease) in Cash Cash at beginning of period Cash at end of period
Almarai Company
1st Half 2012 2011 869.3 870.4 (1,584.6) (1,390.9) 730.2 523.1 14.9 2.5 272.0 240.8 286.9 243.2
From Financing Used in Investing Activities Activities
Cash at end of period
….but additional capex investment especially for poultry (800m) resulted in negative free cash flow of 715.3m
2012 Q2 Earnings Presentation
10
Cash Flow Bridge (rolling 12 months) 1,000
3,098
1,063 Sukuk
1,890 Loans Issues / Others
512 Capex
243.2
Cash June 2011
Almarai Company
299 286.9
Dividend Operating Cash Flow
Investment in Subsidiary
+ SAR 43.7 m
2012 Q2 Earnings Presentation
Cash June 2012
11
Balance Sheet S AR M i l l i on
3 0 .0 6.12
3 0 .0 6.11
Net Operating Working Capital Biological Assets
1,182 870
702 795
Property, Plant and Equipment
12,426
8,997
Net Operating Assets Intangible Assets - Goodwill Investment and Financial Assets & Deferred Charges
14,478 1,383
10,494 793
494
958
16,355
12,246
Net Debt Employee Termination Benefits Deferred Tax (Net) Total Equity Net Capital Employed
8,385 266 131 7,573 16,355
5,774 223 6,249 12,246
Net Debt to Equity Ratio
110.7%
92.4%
Almarai Company
2012 Q2 Earnings Presentation
12
Segment Reporting S AR M i l l i on 1st H al f 20 12 Sales Third Party Sales Net Depreciation Income/(loss) before Minority Interest Total Assets Total Liabilities Return on Sales Growth versus 1st Half 2011 - Third Party Sales - Income before Minority Interest Q 2 20 12 Sales Third Party Sales Net Depreciation Income/(loss) before Minority Interest Total Assets Total Liabilities Return on Sales Growth versus Q2 2011 - Third Party Sales - Income before Minority Interest
Almarai Company
D ai ry & Ju i ce
Bak ery
P ou l try
Arabl e an d H orti cu l tu re
O th er Acti vi ti es
Al marai C on sol i dated
4,660.8 4,564.5 (327.3)
3,673.6 3,667.2 (219.1)
618.5 618.5 (53.9)
214.5 214.5 (20.6)
154.2 64.3 (33.8)
0.0 0.0 0.0
589.6
81.5
(45.4)
12.6
(19.6)
618.7
10,692.2 (9,610.2)
1,994.2 (276.1)
2,964.1 (240.2)
1,647.8 (191.7)
1,116.3 (523.3)
18,414.6 (10,841.6)
16.1%
13.2%
(21.2%)
19.5%
n.a.
13.6%
17.3%
34.3%
47.8%
167.8%
n.a.
21.5%
3.2%
83.2%
n.a.
(161.2%)
112.3%
4.9%
2,034.6 2,031.5 (116.8)
325.0 325.0 (27.8)
119.1 119.1 (10.5)
129.7 48.6 (17.1)
0.0 0.0 0.0
2,608.4 2,524.1 (172.2)
46.3
(13.4)
32.6
(10.4)
373.8
318.7 328.9 (1,063.6)
28.9 (6.9)
492.6 16.3
(2.6) 17.0
(135.4) 6.7
712.3 (1,030.6)
15.7%
14.3%
(11.3%)
67.2%
n.a.
14.8%
22.5%
30.5%
45.8%
109.9%
n.a.
25.4%
(0.3%)
105.4%
n.a.
228.8%
171.5%
6.3%
2012 Q2 Earnings Presentation
13
Operational Update
Almarai Company
2012 Q2 Earnings Presentation
14
2012: Key Focus Areas
1
Deliver growth across all product portfolio
2
Improve group margin %
3
Manage cash flow
4
Integrate other business units
Almarai Company
Expand distribution across GCC, with special emphasis on poultry and bakery Continue exploring new product development revenues
Manage procurement process in line with inventory cover requirements. Focus on value add products to enhance margin %
• •
Cost control across all categories and functional areas Manage funding structure
Focus on Fondomonte integration with farming division at Almarai. Integrate and improve on IDJ business in line with Almarai business model
2012 Q2 Earnings Presentation
15
Progress against Key Focus Areas
Almarai Company
2012 Q2 Earnings Presentation
16
1
Deliver Growth across all product portfolio Well underway
Still to achieve
Strong H1 results including strong bakery results buoyed by GCC distribution Sales growth is expected to continue for rest of the year, particularly for juice product range Poultry products were launched in Qatar & Bahrain in Q2. Expansion will continue in other GCC countries and current distribution facilities will be further developed
Almarai Company
Launch poultry across all GCC countries. Full range of bakery to be available across GCC Commissioning of poultry plant by Q4, 2012
2012 Q2 Earnings Presentation
17
3
Margin areas of focus Still to achieve
Well underway
SMP
Cost of most commodities is showing signs of stabilisation / reduction over last year. This cost advantage is expected to materialise in H2, 2012. Strong product innovation & value added products to continue and accelerate as the year progresses
Almarai Company
Product improvement projects to continue deliver quality value to our customers
2012 Q2 Earnings Presentation
18
4
Cash Flow Management Well underway
Still to achieve
Inter divisional collaboration
Cost control across all categories and functional areas Debt management program to keep funding cost in check
Almarai Company
Focus on supply chain and streamlining end to end inventory movement Working capital – creditor management
2012 Q2 Earnings Presentation
19
4
Integration of other business units Still to achieve
Well underway
Changes in key management positions
Integration of Fondomonte business with Almarai financial and operational units continues well in Q2 Additional focus will be placed in next quarters to integrate and improve on IDJ business in line with Almarai business model. Key management changes have taken place by Q2 and operational focus will follow in Q3/Q4.
Almarai Company
Implement operational & control policies in both Fondomonte & IDJ
2012 Q2 Earnings Presentation
20
Q&A
Almarai Company
2012 Q2 Earnings Presentation
21
Thank you
Almarai Company Exit 7, North Circle Road Al Izdihar District P.O. Box 8524 Riyadh, 11492 Saudi Arabia Contact for investor relations matters: Khalid M. Al Nasser +966 1 470 00 05 ext 1280 [email protected]
