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UAC OF NIGERIA PLC

UAC OF NIGERIA PLC. UAC OF NIGERIA PLC. H1 2013 Results Presentation. Important Notice. Contents. Larry Ettah GMD/CEO. 1. Overview of the business in H1 2013. 2. Abdul Bello CFO. Financial performance review . 2. Joe Dada ED Corp. Services. 3. Update on strategic thrusts.

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UAC OF NIGERIA PLC

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  1. UAC OF NIGERIA PLC UAC OF NIGERIA PLC H1 2013 Results Presentation

  2. Important Notice

  3. Contents Larry Ettah GMD/CEO 1 Overview of the business in H1 2013 2 Abdul Bello CFO Financialperformance review 2 Joe Dada ED Corp. Services 3 Update on strategic thrusts Larry Ettah GMD/CEO 4 outlook 3

  4. Contents Larry Ettah GMD/CEO 1 Overview of the business in H1 2013 2 Abdul Bello CFO Financial performance review 2 Joe Dada ED Corp. Services 3 Update on strategic thrusts Larry Ettah GMD/CEO 4 outlook 3

  5. MISSION To grow our top-line at twice the rate of GDP growth in Nigeria at a blended EBIT profitability of 15% VISION To be number one in our chosen markets, providing exceptional value to our customers OUR VALUES Our Customers are our Focus We act with Respect for the Individual We act with Integrityin everything we do Teamspirit will give us good success Innovationfor business sustenance and value creation We are Open and Communicatewith our people DESIRED OUTCOME Adding value to the lives of our stakeholders

  6. Business Review – UACN Plc • UAC has defined its holding company structure as a model consisting of a Corporate Centre overseeing a portfolio of interests across 4 key verticals

  7. H1 2013 Highlights

  8. Operations Review UAC FOODS LTD GRAND CEREALS LTD UAC RESTAURANTS LTD • Turnover up 27% • North East market inaccessible (Security Challenges) • Elevated local grain prices impacting margins; procurement savings being pursued (via Offshore sourcing) • Operational review and restructuring on-going • New Plant installation on-going • Turnover down 27% (Q1 2012 had corporate stores now franchised) • Launched N600 Naija Meal • Franchising outstation central kitchens • Due diligence by prospective investors • Turnover up 8% • Installation of new blow mould equipment at SWAN Factory • Installation of two additional production lines for Gala • Completion of facility upgrade in Ojota & Oregun • Roll out of Funtime Cake with 15 days shelf life • Working to regain days lost to installations and improve off-take • Security challenges in the North have impacted on sales execution.

  9. Operations Review UPDC PLC MDS LOGISTICS PLC CAP PLC • Turnover up 14% • Opened four new Dulux Colour Shops • Turnover up 18% • Grandville Estate (GRA – Ikeja) & Metro Gardens (Lekki) commissioned • Construction work on Festival Mall, Festac commenced • UPDC REIT listed on the Nigerian Stock Exchange • Sales mix impacting profit favourably • Turnover up 38% • Commenced business with four new clients • Capacity upgrade of Abuja Pharma warehouse facility • Imperial Logistics acquired equity stake (49%) • Joint operational review with Imperial on-going

  10. Contents Larry Ettah GMD/CEO 1 Overview of the business in H1 2013 2 Abdul Bello CFO Financial performance review 2 Joe Dada ED Corp. Services 3 Update on strategic thrusts Larry Ettah GMD/CEO 4 outlook 3

  11. Review of Financial Performance

  12. Review of Financial Performance (N’Billion)

  13. Summary of Financial Performance (YoY)

  14. YOY Margins Analysis Gross Margin EBIT Margin Gross Margin down due to input cost pressures in Grand Cereals. EBIT Margin improves by 2%

  15. Capital Structure Debt to Equity (x) Interest Cover (x) Debt to Equity Ratio up due to increased debt in Grand Cereals. Interest Cover improves as a result of higher EBIT.

  16. Improving Returns… ROE ROA ROE and ROA grew on the back of a robust performance

  17. Summary of Financial Position

  18. Review of Financial Position (N’Billion)

  19. Capital Structure Total Debt (N’Billion) Total Equity (N’Billion)

  20. Summary of Cash flows

  21. Segment Analysis - Turnover H1 2013 H1 2012

  22. Segment Analysis – PBT H1 2013 H1 2012 The Food & Beverage, Real Estate, Paints and Logistics segments contributed 97% of Group PBT for H1 2013. Impressive performances in Real Estate and Logistics changes contribution dynamics

  23. Performance of Key Subsidiaries UAC Foods (N’Billion) Grand Cereals (N’Billion) UPDC (N’Billion) CAP (N’Billion)

  24. MDS Logistics (N’Million) UAC Restaurants (N’Million) UAC Restaurants returns to profitability Livestock Feeds (N’Million)

  25. Margins by Subsidiaries Gross Margins PBT Margins

  26. Contents Larry Ettah GMD/CEO 1 Overview of the business in H1 2013 2 Abdul Bello CFO Financial performance review 2 Joe Dada ED Corp. Services 3 Update on strategic thrusts Larry Ettah GMD/CEO 4 outlook 3

  27. Acquisition of Portland Paints & Products Nigeria Plc Transaction consummated via secondary market trades 51% equity stake has been acquired • Key Project Milestones • December 21 2012 - Definitive Agreements Executed • May 9 2013 - SEC Approval Obtained • June 28 2013 - Payment for Shares/Transaction Close • Valuation • Price Per Share – N4.47 • Transaction Size – N912 Million

  28. M&A Update • UAC Restaurants – Due Diligence completed. Final Discussions on-going • UAC Registrars – Transaction closure shortly • UPDC – Negotiation with Potential investor On-going • GM Nigeria Limited - Liquidation in progress

  29. UPDC REIT Highlights

  30. Contents Larry Ettah GMD/CEO 1 Overview of the business in H1 2013 2 Abdul Bello CFO Financial performance review 2 Joe Dada ED Corp. Services 3 Update of strategic thrusts Larry Ettah GMD/CEO 4 outlook 3

  31. H2 2013 Key Priorities

  32. THANK YOU

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