Q4 2024 Dhofar International Development & Investment Holding Co SAOG Earnings Call
Yeah.
Okay.
Thanks, so much.
<unk> welcome everyone to <unk>.
First investor presentation of 2025, 28 foot clear financial to the year ended <unk> <unk> thousand 24.
We would we would try to be brief.
And we're running a piece and if you could keep your questions to them.
A brief overview of our company.
As many of you are aware of publicity whatever money investment company a public publicly listed.
Tablet since 1987 are currently one of the largest investment companies and <unk> with an investment book.
208 million beyond our.
Our investments are in advantaged checkers, mostly in black.
Central services insurance.
But we also have investments in utility hospitality medical supplies and FMC G businesses and the subsequent as one.
Highlights of our major investments are major major investment is back to the product.
Did it was promoter and as the largest shareholder.
The fire insurance for example, where we would promote to underwrite the shareholder OIS seat.
Our payment services company in the language with which we are about to merge at EFI deposits in the banking company.
Which one of the largest.
With one of them.
Largest shareholders and that put the company along with other group companies.
A major shortage and did they conclude prominent business groups.
My assumption.
The seasonal medical trading and contrasting.
<unk> investments and additional government pension funds.
Many of these restaurants are cost to shareholders.
Okay.
A highlight of our hours Kim's boys, we have leveled off line.
Sure.
She has had in Washington.
Our bikes champions to partners.
Okay.
Our board has been famous for us here.
Please proceed to go through the.
Jeff Bezos: A list of the practice, but with respect to key management by myself I'm the CEO of Amazon.
Speaker Change: On my right Mr. Michel <unk>, our CFO on my left is Mr. Jim My boss shaped our.
Our company Secretary and our head of compliance.
Speaker Change: A highlight of our investment portfolio.
Speaker Change: We own <unk> subsidiaries.
Speaker Change: Investment in our real estate services and Garden Hotel under power International Energy services.
Speaker Change: Total value of our subsidiaries amount of opportunity in India.
Speaker Change: The biggest investment category in our books.
Speaker Change: And associates, which influences our investment bank deposit insurance OFC at <unk> financial services asset other medical supplies.
Speaker Change: Total value.
Speaker Change: Of the associates in our books amounted to close to 180 million via.
Speaker Change: The market value of the same portfolio has a.
Speaker Change: Lower at how good of a decline.
Speaker Change: We maintain a portfolio of Mr equities.
Speaker Change: With an anchor some uncle securities and within that as well as a total value of $23 8 million major investments in our portfolio, including.
Speaker Change: By Cross Pozzolana Port services.
Speaker Change: According to the system.
Speaker Change: We also provide funding to some of our subsidiaries making operations.
Speaker Change: One of the.
Speaker Change: The larger line items in that regard as our non core subsidiary of about $3 six <unk>.
Speaker Change: Okay.
Speaker Change: Okay.
Speaker Change: Just a little more information on our maintenance plus pumps.
Speaker Change: Pablo has been our investment in <unk>.
Speaker Change: Saturday.
Speaker Change: The largest one being our investment in Banco <unk>.
Speaker Change: These at slightly more than $142 million.
Speaker Change: Our stadia from a bank.
Speaker Change: Bank is 24%.
Speaker Change: Nobody nobody is one of the largest commercial banks and the Sultanate established in 1998.
Speaker Change: <unk> has more than 30 years of operations.
Speaker Change: With a network of 118 branches.
Speaker Change: With over 318 machines.
Speaker Change: <unk> total assets amount to five at the end of the article with shareholders' equity.
Speaker Change: 585 million and beyond and the market cap of 460 <unk> India.
Speaker Change: Second comes our investments on the fire insurance, where we own slightly less than 39% and the value of that investment is about $6 7 million on our books.
Speaker Change:
Speaker Change: The part of insurance has generated excellent avenues over the past two years.
Speaker Change: Latin.
Speaker Change: Topline in 2024 amounted to 84 million began with total assets of $137 million and a market cap of close to 25.
Speaker Change: Company was established in 1980, 9% outpatient network of 52 branches.
Speaker Change: Across seven regions and $7 million.
Speaker Change: We own <unk>.
Speaker Change: Almost 58% NOI FCS carries about 30.
Speaker Change: $2 5 million.
Speaker Change: OFC is buying all the leasing payments provider in the supplement.
Published by $19 17.
Speaker Change: It also contains a significant investment book, where the major investment as 15% owners and banks.
Speaker Change: Although total investments locomotives key amounts to 140 <unk>.
Speaker Change: With shareholders' equity of 36.
Speaker Change: Another major investment in our associates as our investment in EFI, the pie for them invest.
Speaker Change: But with an investment where we own close to 27% valued at 7 million beyond.
Speaker Change: The <unk>.
Speaker Change: <unk> is a.
Speaker Change: As a diversified FMC GE business with operations in Hawaii, there edible oils, poultry dairy and competency.
Speaker Change: Generated total revenue of $8 7 million and <unk> and coupon before it maintains total assets of $19 million and has a market cap of 14.
With respect to our P&L.
Speaker Change: P&L or income statement performance in 2024.
Speaker Change: We have we have reported a profit after tax of $8 3 million as opposed to a $7 $8 million last year.
Speaker Change: We made major changes coming from.
Speaker Change: Okay.
Speaker Change: Excuse me the total income.
Speaker Change: Last year, we have peso we went through.
Speaker Change: Losses are unrealized losses on certain robustness of operators this year.
Speaker Change: We also have.
Speaker Change: A reduction in finance costs contributing to the improvement in net profits.
Speaker Change: With respect to the balance sheet, our total assets have grown from $224 million in 2023.
Speaker Change: $226 million in 2004.
Speaker Change: And the resultant increase in shareholders equity from $133 million into 2023 to $137 6 million in 2024.
Speaker Change: Our outstanding borrowings have also been reduced by close to $3 6 million from close to $19 million 23.
Speaker Change: To $86 4 million or <unk>.
Speaker Change: We just finished visual presentation of the changes in of the of the P&L items. We just mentioned as you will note. There has been a significantly since total income as a result of Covid.
Speaker Change: Lack of unrecognized losses in this years portfolio.
Speaker Change: So happy with our total expenses have gone down from.
Speaker Change: 2.7.
Speaker Change: 7222.
Speaker Change: Sure.
Speaker Change: And our associates continue to perform well with.
Speaker Change: Our share of profits of associates going up by two 3%.
Speaker Change: Over the course of the year.
Speaker Change: Total finance stockpiles drawn down by 50, plus the sample of results.
Speaker Change: The supplemental.
Speaker Change: Part of it.
Speaker Change: Taking a look at our major reimbursement items or investments associates have gone up in line with the share of profit so by about two 5%.
Speaker Change: Whereas our investments in equities has actually declined by close to 2% as a result of the <unk>.
Speaker Change: Sale of some investments and the positive value following value.
Speaker Change: One or two.
Speaker Change: Total industrial gone down by 4%.
Speaker Change: And our shareholders' equity has gone up by three 5%.
Speaker Change: A few slides on the performance of some of our major resource since obviously, there was the major being a bank with spot.
Speaker Change: As you will note that the performance of the bank is showing a positive trend. This is a 100 continues over the past few years.
Speaker Change: Net profit after tax is going up by 1%.
Speaker Change: From $39.
<unk> $843 six we also see an increase in our net interest income.
Speaker Change: The increases in loans and advances of close to 4%.
Speaker Change: Positive sales from customers have increased by 12%.
Vijay: Thanks Vijay.
Speaker Change: Yeah.
Speaker Change: Shareholders' equity has increased by one 3%.
Speaker Change: And we also see improvements in the quality of the credit.
Speaker Change: With the growth in Seattle.
Speaker Change: The four 6% from five nine last year.
Speaker Change: And decline in the total value of loans classified as stage three.
Speaker Change: Looking at the part of insurance continues to grow significantly with close to 20% increase in insurance revenues.
Speaker Change: 74 to $84 2 million.
Speaker Change: There has been a shortfall in net investment in Colorado.
Speaker Change: This is as a result of one investments.
Speaker Change: Underperformed during the.
Speaker Change: Situation to reverse in the future.
Speaker Change: As a result of episodic has been impact on the net profit after tax has actually gone down by 32% from six to $4 two but once again this is ed.
Speaker Change: A result of the underperformance of a singular Watson.
Speaker Change: We do not expect to consider in the future.
Speaker Change: The net result has been an increase of 12% the shareholders' equity from competitive comparable.
Speaker Change: We're shareholders equity reached close to $40 million, representing a year.
Speaker Change: Okay.
Speaker Change: Our IFC has shown a decline in revenue from operations. This is to be expected as we know that the refill business. The volume tiers is waning.
Speaker Change: The company has more than compensated soon will be improvement in the investments that you associate with its share of profits from investments and associates, which have resulted in a.
Speaker Change: A significant increase in profits up to box from $3 5 billion, although we update for Wednesday, resulting in a 25% decrease in shareholders equity.
Speaker Change: Of course, one of the.
Speaker Change: One highlight in OFC is the increased total borrowings from $89 million to 113.
Speaker Change: Something that.
Speaker Change: Yeah.
Speaker Change: Additional borrowings that were taken onboard to maintain your level of investment in banks are hot and the profit that has been generated from that investment and rationalized.
Speaker Change: Rationalized lenders.
Speaker Change: Okay.
Speaker Change: Finally, with the secretary of just a small local trends historical standard of our shareholders' equity and our outstanding borrowings as you can see our shareholders' equity has grown by <unk>.
Tim: Tim It's about 167% from 2019 to 2020 for reach.
Tim: Reaching $157 2 million by the end of last year, while our long term borrowings have reduced from 115 million down to 70 754.
Tim: For over same period.
Tim: This results in improvement in our debt to equity ratio.
Tim: From 215 back in 2018 down to slide six.
Tim: Thank you this concludes the presentation.
Tim: And I'll be happy to take any questions.
Tim: Okay.
Tim: Okay.
Tim: Santa Monica.
Speaker Change: It's nobody has any questions. We will conclude this presentation.
Speaker Change: We will be happy to respond to any queries that come our way.
Speaker Change: It's compliant.
Speaker Change: And it.
Speaker Change: Can be harvested.
I mentioned that April eight.
Speaker Change: One on the line.
Speaker Change: Literally a copy of this recording and the presentation will be made available to everyone on the Companys website.
Speaker Change: And then the secs website.
Speaker Change: Thank you for at least two kilometer <unk> I wish everybody a great. Thank you. Thank you Matt.
Speaker Change: Okay.
Speaker Change: Okay.