Jahez International Company for Information Systems Technology · TADAWUL:6017
Jahez International Company for Information Systems Technology — Q3 2024 Earnings Presentation
31 slides from Jahez International Company for Information Systems Technology's earnings presentation, November 2024
Slide 1: Earnings Call Q3 2024 Analyst Presentation
Earnings Call Q3 2024 November 2024 Analyst Presentation November 2021
Slide 2: Disclaimer
Disclaimer The information in this presentation does not purport to be comprehensive and has not been independently verified by the Company or any of their respective members, directors, officers, employees, agents or affiliates. Except in the case of their respective fraudulent misrepresentation, n
Slide 3: Agenda and Speakers
Agenda Speakers 1 Key Highlights 2 9m 2024 Financial Results 3 2024 Outlook Ghassab Al Mandeel Heni Jallouli Group CEO Group CFO
Slide 4: Jahez Integrated Business Ecosystem
Jahez Integrated Business Ecosystem Innovative technology driving logistics & supply chain efficiency Goods exchange using digital platforms to Local Commerce enhance customer experience Tech solutions Merchants Ecosystem enhancing merchants’ operations and growth Ecosystem for On-demand Services to
Slide 5: Growth engines driving revenue and strategic integration across the merchant ecosystem
Growth engines driving revenue and strategic integration across the merchant ecosystem • Provides fully equipped kitchens for delivery-only • Delivers advanced point-of-sale systems and • Focuses on F&B supply chain management restaurants. integrated service platforms to merchants. for the HORECA se
Slide 6: Driving value through Jahez's strategic investments
Driving value through Jahez’s strategic investments Main investments driving growth Synergistic minority portfolio Core revenue drivers Complementary Capabilities • Key contributors to the Group’s overall revenue, while generating • Bringing additional strengths to Jahez’s core operations, new incom
Slide 7: Q3 2024 Key Highlights
Q3 2024 Key Highlights Analyst Presentation November 2021
Slide 8: Key highlights for Q3-2024
Key highlights for Q3-2024 31% YoY Growth in GMV accomplished while improving overall, profitability reaching 15.0% Adj EBITDA to Group net revenue 23% YoY growth in GMV, with orders from cities outside of Riyadh reaching 44.4% of total orders… Jahez KSA Capturing a bigger share in a dynamic competi
Slide 9: Logi fleet highlights
Logi fleet highlights Logi’s fleet size & performance Fleet Size Orders share Regional Orders Share Count of Drivers % of KSA Orders % of KSA Orders Western Eastern Central Northern Southern + 3.6K 22% 13.5% 22.6% 16.0% 22.4% + 2.0K 16% 17.0% 25.7% 31.8% 20.5% Dec Today 2023 Dec 2023 Sep 2024 Dec 20
Slide 10: KSA New Regulatory Compliance Update
KSA New Regulatory Compliance Update Regulation & Update 5 phases to Stop Non-Saudis Freelancers working in delivery Leveraged fleet reallocation and increased own fleet drivers, utilizing an optimal dispatch algorithm to manage costs and complete Phase 1 to Phase 3 without impacting order volume.
Slide 11: Q3 2024 Financial Performance
Q3 2024 Financial Performance Analyst Presentation November 2021
Slide 12: Group Key highlights
Group Key highlights Jahez Group GMV Group net income Group Adj .EBITDA Q 9M SAR b SAR m SAR m % % of Non-KSA GMV % % of net revenue % % of net revenue 5% 11% 3% 11% 100 % 160.0 6.4% 13.3% 6.8% 7.6% 100 % 8.4% 15.0% 8.2% 9.9% 100 % 6.0 200.0 11% 90% 90% 90% 4.8 140.0 5.0 80% 122.7 80% 160.5 80% 120.
Slide 13: Key KPIs
Key KPIs GMV Number of orders SAR b # of orders m YoY 31% 28% 1.7 1.6 28.0 1.5 24.3 25.8 1.3 22.3 1.2 1.2 19.6 19.0 3.7 4.8 61.0 78.0 Q1-2023 Q2-2023 Q3-2023 Q1-2024 Q2-2024 Q3-2024 Q1-2023 Q2-2023 Q3-2023 Q1-2024 Q2-2024 Q3-2024 Strong GMV growth due to expansion in KSA Consistent volume growth cap
Slide 14: Key KPIs (KSA Platforms)
Key KPIs (KSA Platforms) KSA GMV Number of orders SAR b # of orders m YoY 16% 21% 24.0 20.5 21.2 21.5 1.5 19.0 17.9 1.2 1.3 1.4 1.1 1.1 3.5 4.2 57.5 66.7 Q1-2023 Q2-2023 Q3-2023 Q1-2024 Q2-2024 Q3-2024 Q1-2023 Q2-2023 Q3-2023 Q1-2024 Q2-2024 Q3-2024 21% GMV showing market faster than market growth
Slide 15: Key KPIs (Non-KSA Platforms)
Key KPIs (Non- KSA Platforms) Non KSA GMV Number of orders SAR m # of orders m YoY 4.1x 3.6x 195 183 4.0 3.7 145 3.0 127 3.0 70 1.6 10.7 41 522 1.0 16 0.4 Q1-2023 Q2-2023 Q3-2023 Q1-2024 Q2-2024 Q3-2024 Q1-2023 Q2-2023 Q3-2023 Q1-2024 Q2-2024 Q3-2024 GMV forms 11% of the overall group with Kuwait sh
Slide 16: Gross revenues Streams 9M-2024
Gross revenues Streams 9M-2024 SAR b, % Revenue growth with improvement in commission & delivery revenue 2,000.0m 37.5% 37.5% 4 ,000.0m 37.7% 36.3% Other Revenue 1 ,800.0m 0.0 % 0.0 % • Negotiating higher take rates with the merchants from 13.0% in 3,500.0m 25.9% 25.9% Commission Revenues 1 ,600.0m
Slide 17: Cost of Revenue 9M-2024
Cost of Revenue 9M-2024 breakdown (as % of Net Revenue) SAR m, % Increasing Gross Profit to 23.1% YoY and 26.2% QoQ 22.4% 26.2% 22.2% 23.1% • Delivery Cost (external and own fleet) (1,053m in 9M-24 vs 1,001m 0.0 % 0.0m in 9M-23) 0.0m 0.4 1.0 1.2 0.4 • Staff growth related to building -100.0% 5.2% 4.
Slide 18: Operating Costs 9M-2024
Operating Costs 9M- 2024 Q 9M Operating costs G&A % of net revenue % of net revenue 400.0 16.7% 13.4% 16.9% 15.8% 100 % 140.0 7.0% 5.4% 5.8% 5.8% 100 % 90% 350.0 90% 93.9 120.0 256.1 80% 80% 300.0 217.6 100.0 74.1 70% 70% 250.0 60% 60% 80.0 200.0 50% 50% 32.7 60.0 80.6 31.7 40% 75.5 40% 150.0 30% 30
Slide 19: Group Net Profit by segment 9M-2024
Group Net Profit by segment 9M-2024 Group net Profit By segment SAR m • KSA platforms strongly grew by 28% YoY with spending on regional growth within KSA to 222.3 consolidate market positioning • Non-KSA platforms net losses decreased by 16% with (58.6) maintaining the growth in volume (15.4) 122.7
Slide 20: Group Net Profit by segment Q3-2024
Group Net Profit by segment Q3-2024 Group net Profit By segment SAR m • KSA platforms strongly grew by 69% YoY with spending on regional growth within KSA to consolidate market positioning 98.0 79.7 • Non-KSA platforms net losses (10.9) (0.9) decreased by 62% with (6.5) maintaining the growth in vol
Slide 21: Adj. EBITDA 9M-2024 (By Segment)
Adj. EBITDA 9M-2024 (By Segment) SAR in millions 15.3% 9.9% KSA continues to be the fuel of growth initiatives 217.8 • KSA Platforms focus on securing market share & additional 13.5 expansions while improving 160.5 margins (56.3) (14.5) • Non-KSA platforms are showing an ongoing improvement in UOE,
Slide 22: Adj. EBITDA Q3-2024 (By Segment)
Adj. EBITDA Q3-2024 (By Segment) SAR in millions 18.0% 15.0% Performance Improvement 94.1 9.7 • KSA Platforms hitting 18% Adj 90.0 EBITDA Margins (3.6) (10.1) • Non-KSA platforms are showing a material improvement of UOE. • Logistics segment improving comparing to the first half • Others: Continued
Slide 23: Unit Economics Delivery Platforms 9M-2024
Unit Economics Delivery Platforms 9M-2024 SAR per order Improvement in margin contribution of SAR0.2 despite the slight drop of (15.5) net revenue per order due to delivery +0.4 21.3 (2.6) campaigns and customer promotions 5.8 offset by an improvement in cost per order due to scale and price KSA 3.3
Slide 24: Unit Economics Delivery Platforms Q3-2024
Unit Economics Delivery Platforms Q3-2024 SAR per order Increased net revenue driven by commission that offsets the negative (15.6) impact of delivery campaigns (2.2) +1.2 21.7 6.2 Improvement in cost per order due to KSA scale and price negotiation and fleet 3.9 optimization Net Revenue Cost of Rev
Slide 25: Net cash position (Sep YTD 2024)
Net cash position (Sep YTD -2024) SAR m 140 26 1,109 (27) (195) 89 953 (91) (97) (294 m) 139 m Investing & Operating Financing Dec-23 Net Income Net Zakat Paid Capex and Treasury Stocks Investments Deposits Sep-24 B. Zakat Working Capital Lease Payments Changes Maintaining strong positive cash posit
Slide 26: FY 2024 Guidance
FY 2024 Guidance Analyst Presentation November 2021
Slide 27: FY 2024 Guidance
FY 2024 Guidance SAR 9M 2024 Actuals FY 2024 Updated Guidance GOV* 6.4b 8.0b – 9.0b GMV 4.8b 6.1b - 6.8b Net Revenue 1.6b 2.1b - 2.4b Adj. EBITDA 160m 200m - 240m (*) Gross Order Value including Delivery Fees and Value Added Tax
Slide 28: Q&A
Q&A Analyst Presentation November 2021
Slide 29: Thank You
Thank You [email protected] Analyst Presentation November 2021
Slide 30: Group Adj. EBITDA Bridge
Group Adj. EBITDA Bridge SAR in millions SAR m Q3-2024 Q3-2023 YOY % 9M-2024 9M-2023 YOY % Net Revenue 601.3 451.6 33.1% 1,623.2 1,287.3 26.1% Cost of Revenue (443.7) (350.4) 26.6% (1,248.7) (1,001.3) 24.7% Gross Profit 157.6 101.3 55.6% 374.5 286.0 31.0% Gross Profit % 26.2% 22.4% 3.8% 23.1% 22.2%
Slide 31: Definitions
Definitions GMV The gross merchandise value of products sold in a certain market in a specific period, excluding the following: a. value added tax on the value of the order. b. The total delivery fees. c. value added tax on delivery fees. GOV The gross merchandise value of products sold in a certain