Investor Presentation | Second Quarter 2022
GB Auto & Auto Related Income Statement
(LE million)
2Q21
Revenues
5,425.2
1Q22
5,862.5
2Q22
Q-o-Q
Y-o-Y
1H21
1H22
Y-o-Y
5,489.6
-6.4%
1.2%
Inter-Segment Revenues
337.7
Total Revenues
5,763.0
259.6
6,122.1
334.0
28.7%
-1.1%
10,541.2
672.8
11,352.1
7.7%
5,823.6
-4.9%
1.1%
11,214.1
Cost of Sales
(4,635.9)
(4,955.6)
(4,548.4)
-8.2%
-1.9%
(9,016.3)
593.5
11,945.7
(9,504.1)
-11.8%
6.5%
5.4%
Inter-Segment Cost of Sales
(337.7)
(260.1)
(333.4)
28.2%
-1.3%
(672.8)
Total Cost of Sales
(4,973.7)
(5,215.8)
(4,881.8)
-6.4%
-1.8%
Gross Profit
789.3
906.3
941.7
3.9%
19.3%
(9,689.2)
1,524.9
(593.5)
(10,097.6)
-11.8%
4.2%
1,848.1
21.2%
Gross Profit Margin
13.7%
14.8%
16.2%
1.4
2.5
13.6%
15.5%
1.9
General, Selling & Administrative Expenses
(406.2)
(429.5)
(489.4)
13.9%
20.5%
(781.3)
(918.9)
17.6%
Other Operating Income
77.2
80.8
46.0
-43.0%
-40.3%
105.4
126.8
20.3%
Provisions (Net)
1.5
1.7
(15.7)
(15.3)
(14.0)
-8.2%
Operating Profit
461.8
559.3
482.6
-13.7%
4.5%
833.7
1,041.9
25.0%
Operating Profit Margin
8.00%
9.10%
8.30%
-0.8
0.3
7.40%
8.70%
1.3
Finance Cost / Income
(153.1)
(149.4)
-173.3
16.0%
13.2%
(314.3)
(322.8)
2.7%
FOREX
12.9
(198.2)
-14.9
-92.5%
18.1
(213.1)
Dividends Income
681.9
-0.1
681.9
Net Profit/(loss) Before Tax
321.6
893.6
294.3
-67.1%
-8.5%
537.6
1,187.9
Income Tax
(60.6)
(73.8)
-53.7
-27.2%
-11.4%
(104.7)
(127.5)
21.7%
Net Profit /(loss) After Tax and Before NCI
260.9
819.8
240.6
-70.6%
-7.8%
432.9
1,060.4
NCI
(29.3)
(30.0)
-26.6
-11.5%
-9.4%
(23.3)
(56.6)
Net Profit/(loss) After NCI
231.6
789.8
214.1
-72.9%
-7.6%
409.6
1,003.9
EBITDA
475.0
620.1
543.8
-12.3%
14.5%
913.1
1,163.8
27.5%
EBITDA Margin
8.2%
10.1%
9.3%
-0.8
1.1
8.1%
9.7%
1.6
GB Auto & Auto Related Key Working Capital Components
(LE million)
2Q21
3Q21
4Q21
1Q22
2Q22
Inventory
3,908.1
3,495.9
4,016.7
5,528.7
Receivables
1,830.4
2,150.6
2,051.0
2,349.0
4,619.0
1,703.2
Advances
630.9
604.7
745.8
866.7
891.5
Debtors & Other Debit Balances
1,343.9
1,879.2
1,547.9
1,957.4
1,443.5
Payables (Net)*
Working Capital
3,950.8
3,762.6
4,539.2
3,591.1
4,612.9
3,748.4
6,378.9
4,307.0
4,322.9
4,350.3
Payables are shown net of operating lease-related liabilities amounting to LE 393.7 million, which are now added to our Net Debt calculations. Due to a change in Egyptian Accounting Standards, the related leased assets have been
recorded on the balance sheet under PP&E, while the liabilities have been booked under Payables, starting from 2019 onwards
INVESTOR PRESENTATION | SECOND QUARTER 2022
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