PRESENTATION OF OUR FINANCIAL MID-YEAR RESULTS 14 FEB 2020 1 IBL - - PowerPoint PPT Presentation

PRESENTATION OF OUR FINANCIAL MID-YEAR RESULTS

14 FEB 2020

AFRICA TOGETHER ZOOM IN Bloomage EDENA Boissons CIDP

02

GROUP PERFORMANCE HIGHLIGHTS

03 01

Agenda

SEGMENTAL REPORTING

04

YOY BUSINESS COMPARISON

05

QUESTIONS & ANSWERS

Africa T

• gether

The East Africa

• pportunity

East Africa region has sizeable countries with cumulated population size > 290m, a growing middle class and increasing urbanization supported by strong economic growth and high investment, highlighting the vibrancy of the region.

Ethiopia Kenya Tanzania Zambia Mozambique Rwanda Uganda Mauritius

Africa T

• gether

JORSEN PATTEN

HEAD OF BUSINESS DEVELOPMENT- EAST AFRICA

OUR MISSION

IBL International Limited is the business development and investment advisor to IBL Group in East Africa.

SET-UP

This fully-fledged business development office located in Nairobi, Kenya is operational since Q1 2018, working closely with IBL Group’s Business Units and Corporate specialists.

OUR MISSION

NAIROBI

Africa T

• gether

Progress to date of IBL ’s business development in East Africa

A clear and effective business development approach

Direct networking

Identify mutually beneficial

• pportunities, customize
• ur engagement to each

stakeholder and share market insights of country and industry landscapes

Public Relations

Establish IBL corporate brand

Networking events

Build the corporate brand through sponsorship of sector association events and industry forums

Effective market entry strategies applied on a case-by-case basis dependent on the clusters

Market Entry Models

4 MODELS APPLICATION

M&A (Equity Partnerships) Decision criteria: 1) Replicable capability 2) Financial capacity of operation 3) Industry attractiveness 4) Presence of equivalent business model in market 5) Importance of local knowledge & networks 6) Importance of existing size & scale in market Greenfield Set-up Strategic Alliances & Referrals Long-Term contracts

A guiding framework to assess equity investments

Market prioritization

1. Sophistication of the economy 2. Investment risk 3. Access to sizeable deals

2

Equity partnership

1. Sector/industry alignment 2. Company analysis 3. Alignment to IBL ’s investment principles :

• Long-term strategic investor
• Core operating capabilities & value-

addition

• Majority stake to allow for Group

consolidation

• Fit in values (ethics & governance)
• Transaction with growth capital

requirement

1

ZOOM IN

ZOOM ON

Robin HARDIN

Establishing the baseline

1 Apr. 2017 to 30 Jun. 2018

• a. Setting up of Bloomage Ltd.
• b. Acquisition of properties from IBL.
• c. Finance raising through notes issue.
• d. Capability and competency building.

Bloomageproperty fund

The journey so far and our aspiration

Growth

1 Jul. 2018 to 30 Jun. 2023

• a. Grow the fund, while maintaining acceptable risk

return profile.

• b. Embed and building on new capabilities.
• c. Competency development.
• d. Brand building.

TOTAL ASSETS VALUE DOUBLE TO

Rs 6bn

in 5 years

PROPERTY INVESTMENT ASSET MANAGEMENT PROPERTY MANAGEMENT FACILITIES MANAGEMENT

Our core competencies

PROPERTY INVESTMENT

• Make strategic investments which improve the overall quality and value
• f the portfolio and ensure long-term capital appreciation.
• Maintain acceptable risk return profile.

FACILITIES MANAGEMENT

• Ensure that properties are well managed through effective contract

management of service providers. ASSET MANAGEMENT

• Own well-located investments comprising of a quality portfolio of retail,
• ffice and industrial properties.
• Earn sustainable rental and escalations by providing quality space to a

large and diverse base of financially sound tenants, secured by long- term leases.

• Access all available sources of funding in order to minimise the cost of

capital while maintaining appropriate gearing levels. PROPERTY MANAGEMENT

• Manage assets and invest the capital necessary to ensure properties are

well maintained, operate at optimum occupation levels and efficiency, and meet needs of tenants and requirements of regulatory bodies.

BLOOMAGE

Our people

29 7 22

79% 73% 85% 75% 73%

35

PROPERTIES

Rs 4.1 bn

TOTAL ASSETS

95.7%

OCCUPANCY

Our portfolio

104,000 m2

GROSS LETTING AREA

Our portfolio

30% 37% 18% 11% 4%

OFFICE RETAIL INDUSTRIAL HOSPITALITY LAND FOR DEVELOPMENT

VALUE PORTFOLIO SPLIT

25% 34% 37% 4%

GLA PORTFOLIO SPLIT

OFFICE RETAIL INDUSTRIAL HOSPITALITY

70

NUMBER OF CLIENTS

Rs 300m

ANNUAL REVENUE

5.2 yrs

W.A.L.E

71%

C.S.I SCORE

Our clients

Our projects

SAL T of Palmar

Operational since 1 September 2018 Rs 75m T

• tal investment

Open to paying guests since 1 November 2018 Rs 500m T

• tal investment

New Warehouse at Riche Terre

Our projects

Acquisition of HomeScene

Operational since December 2019 Rs 120m T

• tal investment costs

Since 17 September 2019 Rs 176m Acquisition price

RedevelopmentofRiverside

40,000 m2

Phased development

Rs 1.5 bn

Property value Healthscape – Medical and Wellness Precinct

Our projects pipeline

Rs 1.96bn

total development costs

7.5%

forecasted NOI yield

Rs 100m

• ur investment

19%

• ur shareholding

Victoria Urban Terminal

Our projects pipeline

Strategic directions Our focus areas

Operational excellence Sale of non- core assets Growth through acquisitions Growth through development projects

§ Geographical and sectorial diversification § Support Group operations § Sustainability considerations

ZOOM ON

Claude Lasseigne

The timeline

Creation of the Phoenix Beverages subsidiary, PHOENIX REUNION

1972

Foundation of the company and registration of the trademark, EDENA

2009 2011

T akeover of Edena by the MARBOUR Group T akeover of Edena and ESR by Phoenix Beverages (Mauritius) and combination of the three entities, Edena, ESR et Phoenix Réunion within the same premises

2016 2018

Creation of the new corporate brand, EDENA BOISSONS

Edenais the leader in the spring water market in Réunion since 1972

VOLUME OF 700,000HL FOR REUNION ISLAND :

€ 36M

Turnover

Our people

96

EMPLOYEES

51 29 16

Our brand portfolio

Import brand portfolio

IMPORT FROM PHOENIX BEV: OTHER IMPORT:

ZOOM ON

Claire BLAZY JAUZAC

About CIDP

Created in 2004, CIDP (Centre International de Développement Pharmaceutique) is a private and independent Contract Research Organisation (CRO) delivering top-notch service to prominent cosmetics and pharmaceutical brands. Headquartered in Mauritius, CIDP’s main line of activity is the assessment of the safety and efficacy of cosmetic and pharmaceutical products using innovative methodologies in order to improve the well-being of consumers and patients.

The offers provided by CIDP are segmented into 5 areas of expertise:

Expertise

Research activities Clinical research Biostatistics and data management In vitro and ex vivo preclinical research Regulatory affairs

BRAZIL (Rio de Janeiro)

Opening: 2012 Number of employees: 18

ROMANIA (Bucharest)

Opening: 2010 Number of employees: 29

INDIA (New Delhi)

Opening: 2010 Number of employees: 28

SINGAPORE

Opening: 2015 Number of employees: 8

MAURITIUS

Opening: 2004 Number of employees: 45

CIDP global presence

Innovation in its DNA

Perpetual innovation is part of CIDP’s

• DNA. CIDP maintains a continuous use of

science-based innovation to answer to needs and requirements of the clients. Since 2004, CIDP has made several innovative breakthroughs across the Indian Ocean as well as on the international scene. The first global CRO in the Indian Ocean The first company in the Indian Ocean to introduce cutting-edge preclinical and clinical research activities CIDP has gained international recognition for developing innovative study protocols to substantiate anti-pollution and blue light claims for the cosmetics industry The first CRO in the Indian Ocean carrying research on type 2 diabetes in children (Phase III studies). Diabetes patients in Mauritius are given access to novel treatments through the studies conducted by CIDP.

Conducted more than

8000 studies

IT HAS A WORLDWIDE DATABASES OF

+45000 active volunteers

Key figures

135

CLIENTS ACROSS OVER 25 COUNTRIES

+200 medical investigators

FO FOR CLINICAL TRIALS

Group performance highlights

Profit / loss MUR’M

ANNUALISED ROE TURNOVER

+5%

PBT

+2%

Balance sheet MUR’M

GEARING TOTAL ASSETS

+5%

SHAREHOLDERS EQUITY

+2%

Segmental Reporting

322

252 252

3,685 3,705

3,705 PR PROFIT FROM OP OPERATION ONS TU TURN RNOVER ER

Building & Engineering

H1 H1 2020 H1 H1 2019

SE SECTOR PERFORMANCE

(M (MUR’M)

+1%

• 22%

‘Overall turnover stable, UBP & CNOI margins squeezed and provisions on MS Dubai for the period bring profitability down.’ ’

PR PROFIT FROM OP OPERATION ONS TU TURN RNOVER ER

626

568 568

11,835 12,711

12,711

Commercial & Distribution

H1 H1 2020 H1 H1 2019

SE SECTOR PERFORMANCE

(M (MUR’M)

+7%

• 9%

‘Turnover driven by PBL and Winner’s, profits affected by performance of the retail business.’

PR PROFIT IT F FROM OP OPERATION ONS TUR TURNOVER ER 531

700 700

85

148 148

PR PROFIT IT F FROM AS ASSOCIATES

Seafood

H1 H1 2020 H1 H1 2019

SE SECTOR PERFORMANCE

(M (MUR’M)

+169m +63m

‘All Seafood posting favourable results.’

+17m

PT PTM 48 48

42

59 59

PT PTM 55 55

‘Revenue drop due to vessel on

• ff-hire and profit affected by

running expenses ▲ in Logidis.’

999

929 929

47

35 35 PR PROFIT FROM OP OPERATION ONS TU TURN RNOVER ER

Logistics

H1 H1 2020 H1 H1 2019

SE SECTOR PERFORMANCE

(M (MUR’M)

• 7%
• 25%

PR PROFIT FROM OP OPERATION ONS TU TURN RNOVER ER

884

1,036 1,036

64

55 55

Financial Services

H1 H1 2020 H1 H1 2019

SE SECTOR PERFORMANCE

(M (MUR’M)

+17%

• 13%

‘AfrAsia continues to drive sector performance. EIL recovery underway.’

Financial Services

‘Sustained growth achieved for both topline and PAT.’

SH SHARE OF OF PR PROF OFITS S FROM OM ASSO SOCIATES (M

(MUR’M)

+8%

318

Oth thers 37

34 341

Af AfrAs Asia 30 304 Af AfrAs Asia 28 281

H1 H1 2020 H1 H1 2019

3,196 3,196

3,196

407

389 389 PR PROFIT FROM OP OPERATION ONS TU TURN RNOVER ER

Hospitality & Services

H1 H1 2020 H1 H1 2019

SE SECTOR PERFORMANCE

(M (MUR’M)

Stable

• 4%

‘Revenue stable, closure cost of Merville affects profitability. Risks for H2 due to Coronavirus (esp. Maldives).’

5,105

4,482 4,482

843

838 838

295

329 329

Agro& Energy

H1 H1 2020 H1 H1 2019

SE SECTOR PERFORMANCE

(M (MUR’M)

• 12%

Stable +12%

‘Better results driven by Mauritian and Tanzanian sugar

• perations.’

PR PROFIT FROM OP OPERATION ONS PA PAT TU TURN RNOVER ER

163

116 116

11

8 8 PR PROFIT FROM OP OPERATION ONS TU TURN RNOVER ER

Life & Technologies

H1 H1 2020 H1 H1 2019

SE SECTOR PERFORMANCE

(M (MUR’M)

• 47M
• 3M

‘Lower performance of IBL Link and IBL Life associates drive cluster profitability down. CIDP on target.’

32

70 70

417

593 593 PR PROFIT FROM OP OPERATION ONS TU TURN RNOVER ER

Property

H1 H1 2020 H1 H1 2019

SE SECTOR PERFORMANCE

(M (MUR’M)

+176m +38m

‘Higher revenue following rental from SIL and additional income for

• Bloomage. BLL turnover improved.’

Y

• Y business comparison

Profit before tax

MU MUR’M

1,125 (92) 65 26 18 1,143

H1 H1 2019 OP OPERATING PR PROFITS SH SHARE OF AS ASSOCIAT ATES OT OTHER GA GAINS AND LO LOSSES FI FINANCE CO COSTS H1 H1 2020

Profit Before Tax for the six months increased by 2% compared to the previous year. Lower finance costs and better results from associates were

• ffset by a slight decrease in
• perating profit from our

subsidiaries.

Underlying Profit

MU MUR’M

DE DEC 18 DE DEC 19

1,241 1,232

Underlying Profit remains steady year on year.

Half Year Ended Half Year Ended 31.12.2019 31.12.2018 Rs000 Rs000 Revenue 21,236,606 20,137,998 Profit from operations 1,259,396 1,351,704 Share of results of associates and joint ventures 437,556 372,121 Other gains and losses (89,626) (116,045) Net finance costs (464,534) (482,949) Profit before taxation 1,142,792 1,124,831 Taxation (196,737) (179,989) Profit for the period from continuing operations 946,055 944,842 Discontinued operations Gain for the period from discontinued operations 15,528 23,393 Profit for the period 961,583 968,235 Other comprehensive loss for the period (34,133) (136,782) T

• tal comprehensive income for the period

927,450 831,453

Profit & loss

MU MUR’000

Balance Sheet

MU MUR’000

T H E G ROU P As At As At 31.12.2019 30.06.2019 Assets Rs000 Rs000 Property, plant and equipment 26,606,147 26,266,524 Investment properties 3,146,431 3,029,417 Intangible assets 3,652,291 3,668,387 Investments 10,440,719 9,819,078 Deferred tax assets 353,968 170,115 Other assets 259,143 272,248 Non-current assets 44,458,699 43,225,769 Current assets 17,984,963 16,056,273 Assets classified as held for sale 419,574 699,384 T

• tal Assets

62,863,236 59,981,426 Equity and Liabilities Equity attributable to owners of the parent 16,000,748 15,829,989 Non-controlling interests 11,984,195 11,488,416 T

• tal equity

27,984,943 27,318,405 Non-current liabilities 18,938,110 14,140,432 Current liabilities 15,723,001 18,096,741 Liabilities associated with assets classified as held for sale 217,182 425,848 T

• tal Equity and Liabilities

62,863,236 59,981,426

Shareholder Information

IBL shareholder information

DA DATE SH SHARE PR PRICE CA CAPITALISATION JUNE 2017 40.15 27,310,995,206 JUNE 2018 49.90 33,943,179,596 JUNE 2019 54.00 36,732,098,160 13 13 FE FEBRUARY 2020 56. 56.00 38 38,092 92,54 546, 6,240

NUMBER OF SHARES

680,224,040

IBL Share price

ev evolution

56.00

54.75

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Questions & Answers

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