Investor Presentaiton
III Key Investment Highlights
6 Robust Financial Performance
Effective working capital management has been a key success factor to ISP's performance
DOH
2014
2015
2016
2017
Inventory
35 Days
Receivables
Payables
CCC
85 Days
111 Days
+9 Days
32 Days
85 Days
29 Days
83 Days
34 Days
83 Days
128 Days
114 Days
112 Days
+5 Days
Supplier contracts have the option of credit terms ranging from 120-150 days or a cash discount of 5-6%
Net Debt to Equity Ratio
215%
65%
17%
Interest Coverage Ratio¹
3.5x
2.8x
2.5x
3.1x
-2 Days
- 11 Days
Facilities Breakdown | % of Authorized Limit
Arab
Bank
Others
Mashreq
5% 4%
CIB
18%
Bank
6%
Audi
7%
2014
2015
2016
-30%
2017
2014
2015
2016
2017
Net Debt | EGP mn
Financial Lease Expense | EGP mn
QNB
7%
Dec-2017
12%
Credit
Agricole
EGP 1.7 bn
237
163
7%
54
65
66
58
9%
36
Ahli United
Bank
8%
United
Bank
9%
8%
(133)
2014
2015
2016
2017
2014
2015
2016
2017
Barclays
HSBC
National
Bank
ibnsinapharma
(1) Calculated as EBITDA over interest expense
Source: Company Management
Strictly Private & Confidential
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