Valmore Holding · EGX:VLMR
Valmore — Egypt Kuwait Holding — Investor Presentation (March 2022)
34 slides from Valmore's investor presentation, March 2022
Slide 1: Integrated Investments Generating Superior Returns
Integrated Investments Generating Superior Returns Investor Presentation FY 2021
Slide 2: Disclaimer
Disclaimer This presentation was prepared by Egypt Kuwait Holding S.A.E. (“EKH”) and is strictly confidential and may contain market sensitive information. All recipients hereof who are permitted to receive the same are bound by the restrictions on disclosure and use and other terms thereof. The pro
Slide 3: Agenda
AGENDA EKH Overview Growth Drivers & Recent Developments • Sprea Misr • NatEnergy • AlexFert • Offshore North Sinai • Insurance and NBFS • Nilewood - MDF Project Financial Highlights Appendix 1: Organization & Governance
Slide 4: EKH Overview
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Slide 5: Egypt Kuwait Holding "EKH"
EGYPT KUWAIT HOLDING “EKH” Hands-on investor and Create synergies between Secure strategic partnerships with operator different group companies leading international value added industry players Long-term investor with Develop greenfield operations to Expand industry expertise to opportunistic exit
Slide 6: EKH's Main Portfolio Companies
EKH’s MAIN PORTFOLIO COMPANIES Insurance & Non-Banking Financial Fertilizers and Petrochemicals Energy and Energy-Related Services Sprea Misr NatEnergy Delta Insurance Petrochemicals Plant Gas Distribution and Electricity Life, Property & Casualty Insurance Generation & Distribution Holding Company
Slide 7: EKH at a Glance
EKH AT A GLANCE Recurring Revenues in US$ mln Recurring Attributable EBITDA in US$ mln 5 strategic sectors > 5,500 professionals employed 833 EBITDA margin FY 2021: 44% petrochemicals, 38% by the holding company fertilizers, gas and its subsidiaries distribution, electricity 603 generation & 563 480
Slide 8: Recent Developments
RECENT DEVELOPMENTS Microfinance Subsidiary ‘Bedayti’ Board of Directors obtained FRA license The Board of Directors appointed Mr. Loay Jassim EKH has obtained the final license from the Al Kharafi as chairman after Mr. Moataz Al-Alfi Egyptian Financial Regulatory Authority (FRA) for stepped down, w
Slide 9: Growth Drivers
GROWTH DRIVERS
Slide 10: Sprea Misr
SPREA MISR Founded in 1989 and acquired by EKH in 2007 Revenues in EGP mln EBITDA in EGP mln State of the art Petrochemicals plant located in 62% EBITDA margin FY 2021: 28% 10th of Ramadan over 88,000 m2. 2,632 2,086 100% 50 countries 1,993 35% 1,625 Effective EKH ownership Export Destinations 742 5
Slide 11: Sprea Misr Projects in Progress
SPREA MISR Projects in Progress Formica Sheets Production Line SNF Production Line Sulfuric Acid Production Line Capacity Additional 3 mln sheets p.a. Capacity Additional 90 ktpa Capacity 165 ktpa Doubling capacity to 6 mln sheets Doubling capacity to 180 ktpa Production 2Q 2022 Production Additiona
Slide 12: NatEnergy
NATENERGY NatEnergy is a holding company with ownership Revenues in EGP mln EBITDA in EGP mln stakes in 5 subsidiaries: NATGAS, Fayum Gas, 9% EBITDA margin FY 2021: 38% Nubaria, Kahraba and Gas Chill. 2,201 2,020 1,819 > 1.8 mln > 11,300 1,393 15% Households served by Commercial Clients 831 714 722
Slide 13: NatEnergy: NATGAS & Fayum Gas
NATENERGY: NATGAS & Fayum Gas Existing Concessions Haya Karima On 2nd January 2021, HE President Abdel Fattah El-Sisi launched the initiative Haya Karima (Decent Life), with the aim of improving the living conditions of millions of Egyptians. The initiative seeks to provide everything from education
Slide 14: NatEnergy: Kahraba
NATENERGY: Kahraba Kahraba owns and operates 2 power One of Kahraba’s Power Generation Plants In Borg El Arab generation plants with an installed capacity of 115 MW in Borg Al-Arab Industrial Zone in Alexandria, in addition to 2 smaller power generation facilities. In 2021, NatEnergy succeeded i
Slide 15: AlexFert
ALEXFERT Established by EKH in 2003. It operates a Revenues in US$ mln EBITDA in US$ mln fertilizer production facility in Alexandria over an EBITDA margin FY 2021: 50% 280 area of 108,000 m2. 44% 650 ktpa 180 ktpa 177 188 195 194 115% Urea Production ammonium sulphate 140 Capacity capacity 60 68 66
Slide 16: Offshore North Sinai Concession (ONS)
OFFSHORE NORTH SINAI CONCESSION (ONS) 355 km2 concession located offshore 50 Km Revenues in US$ mln EBITDA in US$ mln North East of Port Said. EBITDA margin FY 2021: 71% 6% 59 55 1% 5+3 50 mmscf/day 38 44 2% 41 42 Operative wells + 3 daily production FY21 34 newly drilled wells 30 US$ 74 mln 100% CA
Slide 17: ONS Overview of Concession and CAPEX Plan
OFFSHORE NORTH SINAI CONCESSION (ONS) Overview of Concession and CAPEX Plan Concession Terms Offshore, located 50 Km North East of Port Said. Operated through NOSPCO JV after take over from Perenco mid 2014. 20 year concession started in 2009, with a possible extension to 2034. Two Development
Slide 18: ONS Production Facilities and Kamose Project
OFFSHORE NORTH SINAI CONCESSION (ONS) ONS Production Facilities Progress on Kamose Project Onshore CPF Site Rumana CPF Office Camp in Rumana Platform Fabrication Platform Sail Away Platform Installation CPF Egypt Kuwait Holding | Investor Presentation 18
Slide 19: Insurance: Delta & Mohandes
Insurance: Delta & Mohandes Significant increase in attributable net profit to EKH from Attributable Net Profit in EGP mln its insurance subsidiaries. + 31% Y-o-Y Delta Insurance Growth 178 Leading Life, Property & Casualty Insurance Company In 2019, EKH increased its stake in Delta Insurance 26
Slide 20: Non Banking Financial Services: Bedayti
Non Banking Financial Services: Bedayti Total Micro Finance Loans EGP mln Number of Microfinance Loan Beneficiaries ‘000 Bedayti Microfinance In Q1 2021, EKH established Bedayti to be positioned as 10% 40% a leading microfinance company in Egypt. 27,055 3,492 Bedayti has obtained the final licen
Slide 21: Nile Wood
Nile Wood Forest Plantation in Sadat City Area Acquired a forest of 1,420 feddans Secured an additional 1,250 feddans in Sadat City (of which 800 feddans have been grown) to reach a total land bank of 2,670 feddans in Sadat area; 5 km away from the factory . In the process of adding another 1,
Slide 22: Nile Wood – MDF Production Process
Nile Wood – MDF PRODUCTION PROCESS Chipping Line Refining Glueing Egypt Kuwait Holding | Investor Presentation 22
Slide 23: Nile Wood – MDF Production Process
Nile Wood – MDF PRODUCTION PROCESS Forming Line Press System Sanding Line Cutting Line Egypt Kuwait Holding | Investor Presentation 23
Slide 24: Shareholder Returns & Financial Highlights
SHAREHOLDER RETURNS & FINANCIAL HIGHLIGHTS Egypt Kuwait Holding | Investor Presentation 24
Slide 25: Share Performance & Shareholder Returns (EGX)
SHARE PERFORMANCE & SHAREHOLDER RETURNS (EGX) Returns Adjusted for Dividends EKHO Share on EGX and EGX 30 Index Share Information Number of Shares: 1.126. bln Market Cap as of 6th March 2022: US$ 1.56 bln (EGP 24.5 bln) +404.7% EGX 30 -7.2% Returns* 2016-2022: EKHO up 404.7% vs -7.2% for EGX30
Slide 26: Share Performance & Shareholder Returns (Kuwait)
SHARE PERFORMANCE & SHAREHOLDER RETURNS (KUWAIT) Returns Adjusted for Dividends EKHOLDIN Share on Boursa Kuwait and BKM50 Index Share Information Number of Shares Listed on Kuwait Bourse in Dinars: 451.3 mln +403.8% Kuwait All Share Price Index Returns* +114.2% 2016-2022: EKHOLDIN up 403.8% vs 1
Slide 27: EKH's Financials
EKH’S FINANCIALS Total Assets (USD Mn) Total Equity of the owners of the Parent Company (USD Mn) 2,166 678 575 553 1,621 503 1,371 479 1,117 396 1,007 1,050 2016 2017 2018 2019 2020 2021 2016 2017 2018 2019 2020 2021 Attributable Net Profit (USD Mn) Return on Average Equity (ROAE) 25% 25% 20% 21% 11
Slide 28: EBITDA & Debt Overview
EBITDA & DEBT OVERVIEW Attributable EBITDA (In ‘000 USD) FY 2020 FY 2021 Fertilizers and Petrochemicals 64,310 127,550 Energy & Energy Related 81,031 87,856 Diversified 50,366 84,866 Attributable EBITDA 195,707 300,272 Net Debt (Cash) (In ‘000 USD) FY 2021 Long-term interest-bearing debt 455,429 Sho
Slide 29: Appendix 1: Management Team, Board Members, Timeline & Corporate Citizenship
APPENDIX 1: MANAGEMENT TEAM, BOARD MEMBERS, TIMELINE & CORPORATE CITIZENSHIP Egypt Kuwait Holding | Investor Presentation 29
Slide 30: Board of Directors
BOARD OF DIRECTORS Mr. Loay Jassim Al- Mr. Adel Al-Alfi Mr. Sherif El Zayat Mr. Moataz Al-Alfi Kharafi Vice Chairman of the CEO Member of the Board Chairman of the Board Board (Non-Executive) (Executive) (Non-Executive) (Non-Executive) Eng. Amin Abaza Mr. Ibrahim Mahlab Mr. Saad Al-Saad Mr. Hussein
Slide 31: Management Team
MANAGEMENT TEAM Mr. Ayman Laz Mr. Medhat Bonna Mr. Sherif El Zayat Mrs Angie Helmi Advisor to the Chairman Group Chief Financial Chief Executive Officer Chief Investment Officer and CEO Officer Mr. Tamer Badrawi Mr. Khaled El- Mr. Ahmed Boghdady Chief Human Resources Mr. Hany Ezzat Demerdash Sector
Slide 32: Key Milestones
KEY MILESTONES 1997 1998 1999 2001 2002 2003 2004 2005 EKH Established Established NATGAS started Listing on Acquired majority stake in Established Alexandria Fertilizer Company (Alex Increased Stake in Divested stake by prominent NATGAS with operation Boursa Kuwait Egyptian Glass Co
Slide 33: Corporate Citizenship
CORPORATE CITIZENSHIP Egypt Kuwait Holding (EKH) prides itself on actively participating in sustainable development, focusing on improving communities in the emerging economies in which it does business and working diligently to create a better future for coming generations. From educational initiat
Slide 34: Contact
Angie Helmi Tarek Yehia Chief Investment Officer Investor Relations Director Telephone : +202-3363300 Telephone : +202-3363300 Fax : +202-3358989 Fax : +202-3358989 E-mail : [email protected] E-mail : [email protected] : [email protected] Website : www.ekholding.com Website : www.ekholding
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