Almarai Company · TADAWUL:2280
Almarai — Q1 2011 Earnings Presentation
16 slides from Almarai's earnings presentation, 2011
Slide 1: Almarai Company 2011 Q1 Earnings Presentation
Almarai Company 2011 Q1 Earnings Presentation
Slide 2: Disclaimer
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 lia
Slide 3: Highlights: A challenging start to the new year
Highlights A challenging start to the new year Q1 2011 vs Q1 2010 Revenue growth 11.8 % from SAR 1,559.5 million to SAR 1,743.6 million Net Income Growth 0.5% from SAR 234.1 million to SAR 235.2 million Performance and results of the first quarter have been influenced by the following factors: • Inc
Slide 4: Highlights - Divisional performance
Highlights - Divisional performance Q1 2011 vs. Q1 2010 Dairy and Juice division – 3rd Party Sales growth + 9.4% – Net income before minorities growth + 5.0% – ROS before minorities 17.1% Bakery division – 3rd Party Sales growth +18.6% – Net income before minorities growth - 15.6% – ROS before minor
Slide 5: Income Statement
Income Statement 1st Quarter SAR million 2011 2010 Change Net Sales 1,743.6 100.0% 1,559.5 100.0% 11.8% Cost of sales (1,109.4) (63.6%) (989.5) (63.4%) 12.1% Gross Profit 634.2 36.4% 570.0 36.6% 11.2% Selling and Distribution Expenses (278.3) (16.0%) (236.5) (15.2%) 17.7% General and Administration
Slide 6: Sales Analysis by Product and Region
Sales Analysis by Product and Region Sales by Product 1st Quarter Sales by Region 1st Quarter Sales by Product Group 1st Quarter SAR Million 2011 2010 % change Fresh Dairy 739.3 677.6 9.1% Bahrain Long-Life Dairy 186.8 170.6 9.5% 2.1% Oman Fruit Juice 166.2 155.3 7.0% Qatar 5.1% Export 4.3% Cheese &
Slide 7: Quarterly Performance – Net Income
SAR Million 50 100 150 200 300 400 0 250 350 450 78.0 90.6 Almarai Company 122.8 162.2 197.4 234.1 235.2 100.3 121.8 165.3 235.2 287.1 343.1 100.9 2011 Q1 Earnings Presentation 122.6 186.1 293.7 363.4 424.5 Quarterly Performance – Net Income 106.9 130.2 193.1 219.2 248.8 283.5 7
Slide 8: Despite the challenging trading environment, Almarai continues to realise robust Revenue growth
Despite the challenging trading environment, Almarai continues to realise robust Revenue growth Revenue and EBIT Margin1 Evolution 24.9% 22.7% 23.2% 22.6% 21.0% 20.7% 21.0% 21.8% 21.1% 20.7% 24.4% 20.1% 19.4% 6,931 7,115 CAGR 1999 – 2010: 17.3% (w/o impact of acquisitions 15.8%) 5,869 CAGR 2004 – 20
Slide 9: Cash Flow Statement
Cash Flow Statement Q1 SAR Million 2011 2010 From Operating Activities 280.7 462.5 Used in Investing Activities (674.0) (437.3) From Financing Activities 287.6 (291.3) Increase/(Decrease) in Cash (105.7) (266.1) Cash at beginning of period 240.8 507.7 Cash at end of period 135.0 241.6 Almarai Compan
Slide 10: Balance Sheet
Balance Sheet SAR Million 31.03.11 31.12.10 Balance Sheet Net operating working capital 797 660 Biological Assets 782 770 Property,Plant and Equipment 8,407 7,867 Net operating assets 9,986 9,296 Intangible Assets - Goodwill 793 793 Investment and Financial Assets & deferred charges 965 981 Net Asse
Slide 11: Segment Reporting
Segment Reporting Arable and Other Almarai SAR Million Dairy & Juice Bakery Poultry Horticulture Activities Consolidated Q1 2011 Sales 1,472.4 231.8 63.5 1.5 0.0 1,769.2 Third Party Sales 1,467.8 211.4 63.5 0.9 0.0 1,743.6 Net Depreciation (69.0) (21.7) (6.0) (12.9) 0.0 (109.6) Income before Minorit
Slide 12: Q1 2011 Product Innovation
Q1 2011 Product Innovation Almarai Company 2011 Q1 Earnings Presentation 12
Slide 13: Update on Joint Ventures/Associates
Update on Joint Ventures/Associates • International Dairy and Juice (IDJ) – Unrest in the region has had a negative impact on Q1 performance – 2011 is viewed as a turnaround year for IDJ as the venture moves from loss to profit • International Pediatric Nutrition Company (IPNC) – Launch of stage 1 a
Slide 14: Looking forward
Looking forward • The challenges that I have talked about this afternoon will not just disappear. 2011 will continue to be a challenging year, not just for Almarai, but for all companies in our industry. • However, Almarai remains committed to : – continued product innovation, with further products
Slide 15: Q&A
Q&A Almarai Company 2011 Q1 Earnings Presentation 15
Slide 16: Thank you
Almarai Company Thank you 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]