ARAB MOLTAQA INVESTMENTS COMPANY - AMIC Investors Presentation June 2013 AMIC Investors Presentation 2 Disclaimer This document has been prepared by Arab Moltaqa Investments Company (AMIC) solely for the use at the analyst/investor presentation, held in connection with AMIC. The information contained in this document has not been independently verified and no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. The information set out herein is subject to updating, completion, revision, verification and amendment and such information may change materially. AMIC is under no obligation to update or keep current the information contained in this material or in the presentation to which it relates and any opinions expressed in them is subject to change without notice. This presentation includes forward-looking statements. These forward-looking statements include all matters that are not historical facts, statements regarding AMIC’s intentions, beliefs or current expectations concerning, among other things, AMIC’s results of operations, financial condition, liquidity, prospects, growth, strategies, and the industry in which AMIC operates. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. AMIC cautions you that forward looking statements are not guarantees of future performance and that its actual results of operations, financial condition and liquidity and the development of the industry in which AMIC operates may differ materially from those made in or suggested by the forward-looking statements contained in this presentation. In addition, even if AMIC’s results of operations, financial condition and liquidity and the development of the industry in which AMIC operates are consistent with the forwardlooking statements contained in this presentation, those results or developments may not be indicative of results or developments in future periods. AMIC does not undertake any obligation to review or confirm analysts expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise after the date of this presentation. AMIC Investors Presentation Outline • Economy Overview • About AMIC Mission and Vision AMIC Overview Financial Highlights Shareholders’ and Board Structure Corporate Governance Management Team Strategy Forward • Portfolio Overview 3 ECONOMY OVERVIEW AMIC Investors Presentation 5 Recent Developments Egypt Economic Overview Economic Growth Real economy grew by just 2.2% y-o-y in the second quarter of fiscal year 2012/13 (October– December). Inflation Rate Inflation rose sharply in December 2012 as the pound depreciated more rapidly. The annual inflation rate increased by 1.45% reaching 9.75% in June 2013 compared to 8.20% in May 2013. Exchange Rates The depreciation of the pound has accelerated, with the currency losing 9% of its value between December 2012 and June 2013, to reach EGP/USD 7.05 instead of 6.01 in the last 2 years Country Rating The persistent budget deficit and renewed political turmoil resulted in further downgrading the country’s long-term rating to B- from B according to Fitch. In addition to this Moody’s downgraded Egypt’s Credit rating in March 2013 from B3 to Caa1. it is also worth noting that up until June 2013 there was no further downgrading by Moody’s. ABOUT AMIC AMIC Investors Presentation 7 About AMIC Target To establish one of the leading private equity firms in the Egyptian market through restructuring current investments on hand and adding new investments while operating and managing such transactions in a professional, systematic and growth oriented vision for these investments . • Arab Moltaqa Investments Company (AMIC) is an Egyptian joint stock company, established under Law No. 230 of 1989, by the decision of Minister of Economy and Foreign Trade No. 2 of 1990, (later amended to Law No.95 of 1992) • AMIC was listed in the Egyptian Exchange (EGX) under the symbol AMIA.CA since 1995. • AMIC’s Total Assets Under Management (AUM) is EGP 2.0 Billion spanning over a wide range of industries including poultry, pharmaceutical and health care, industrial, agriculture, financial, real estate, and commercial. • AMIC aims to create value to its shareholders through launching and executing strategic initiatives; integrating subsequent acquisitions; arranging for debt and/or equity financing for current and potential investments. • AMIC is well positioned to benefit from the unique advantage of being one of the first Sharia- compliant private equity firms in Egypt. AMIC Investors Presentation 8 Vision & Mission Vision Mission • We want to grow our company to become • We are private equity investors, investing the leading private equity firm in the Middle East & North African region. through diversified range of economic sectors covering the full investing cycle from start-ups to matured companies. We allocate our capital flexibly by selecting investments with significant growth potential in compliance with Sharia principals. • Launching from our corner stone in Egypt we thrive to be the investor most soughtafter from partners and shareholders where they watch their investment grow and prosper. • By our involvement and sharing of our interests and expertise with the management, we are committed to cocreate value in our investee companies. AMIC Investors Presentation 9 AMIC Overview Dividends Income Millions Asset Under Management Consolidated 2500 2,004 29 26 2,236 19 18 2000 13 1500 1000 500 109 121 146 156 175 2007 2008 2009 2010 2011 0 2012 2009 H1 2013 2010 2012 H1 2013 Equity Book Value Dividends Distributed Millions 2011 20 120% 508 508 2012 H1 2013 100% 15 80% 10 60% 40% 5 163 204 208 2010 2011 20% - 0% 2009 2010 Dividends Paid 2011 Payout Ratio 2012 2009 AMIC Investors Presentation 10 AMIC Overview Cont’d 70.0 AMIC Share Price 120.00 100.00 80.00 60.00 40.00 20.00 0.00 Revenue Breakdown 60.0 Revolution 50.0 Trading Porftolio 40.0 Dividend s Income 30.0 Gain from Sale 20.0 10.0 0.0 2009 EBITDA vs EBITDA Margin 60.0 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 50.0 40.0 30.0 20.0 10.0 0.0 2009 2010 2011 2012 H1 2013 2010 2011 2012 H1 2013 Net Profit vs. NPM 60.0 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% EBITDA 50.0 40.0 EBITDA Margin 30.0 20.0 10.0 0.0 2009 2010 2011 2012 H1 2013 NP NPM AMIC Investors Presentation 11 Financial Highlights (Standalone) Financial Snapshot - Historical Income Statement EGP MILLION 2009 2010 2011 2012 H1 2013 Gain from sales of Associates & available for sale investments 1.1 39.8 - 0.5 0.6 Dividends Income 13.8 18.1 26.5 19.2 29.1 Profit ( Loss ) From Trading Portfolio 3.8 1.4 0.4 0.9 0.09 Total Revenues 18.7 59.3 26.8 20.7 29.8 Opex 3.2 4.7 4.3 6.6 4.6 - -0.5 -3.2 - 1.6 0.7 2.7 -0.2 - 6.3 5.3 - EBITDA 13.9 48.1 17.8 14.3 24.4 Depreciation 0.2 0.1 0.1 0.2 0.2 EBIT 13.7 47.9 17.7 14.2 24.1 Interst Income 0.6 0.9 2.4 2.1 1.0 F.X. Income (Loss) 0.1 0.1 0.1 0.1 0.2 - 0.1 0.7 0.1 0.3 14.3 49.0 20.9 16.5 25.6 Tax - - - - Deferred tax - - 0.01 0.1 0.01 14.3 49.0 20.9 16.4 25.6 Provisions Unrealized Loss ( Profit) From Trading Investment Impairment - Available For Sale Investments Other Income Profit ( Loss ) Before Tax Profit ( Loss ) After Tax 0.8 - - AMIC Investors Presentation 12 Financial Highlights (Standalone) Financial Snapshot - Historical Balance Sheet EGP MILLION Fixed Assets ( net ) 2009 2010 2011 2012 H1 2013 1.3 1.4 1.3 4.4 4.2 Investment 145.5 138.4 168.3 476.9 457.1 Total Non Current Assets 146.8 139.8 169.6 481.3 461.3 Cash & Cash Equivalents 9.0 58.8 34.0 24.5 28.0 Trading investments 5.9 6.1 4.9 2.5 2.6 Due From Subsidiaries & Associates 5.9 2.5 - - 16.3 Other Debit Balances 2.2 1.4 0.4 0.1 0.4 22.9 68.7 39.2 27.1 47.3 Total assets 169.7 208.5 208.8 508.4 508.6 Paid in Capital 123.0 123.0 123.0 123.0 197.9 - - - 308.0 - Reserves 12.3 13.1 15.5 16.6 250.4 Retained Earnings 20.2 18.9 13.4 12.3 11.0 Current Year Profits 14.3 49.0 20.9 16.4 25.7 Unrealized Profit(Loss) From Investment Available For Sale -7.2 - 35.2 31.4 22.8 Total Equity 162.6 204.0 208.0 507.7 507.8 Deferred tax - - 0.0 0.05 0.04 Total Non Current Liabilities - - 0.0 0.05 0.04 Provisions 6.2 3.3 - - Other Credit Balances 0.9 1.2 0.7 0.7 0.7 Total current Liabilities 7.1 4.5 0.7 0.7 0.7 169.7 208.5 208.8 508.4 508.6 Total current assets Credit Balances Under Account Of Capital Increase Total Equity & Liabilities - AMIC Investors Presentation 13 Shareholders & Board Structure Name # of Shares Ownership Dallah AL Baraka Holding 9,769,200 49.4 % Bayt el Tawfik for Development 7,493,870 37.9 % Free Float 2,530,800 12.8% Total 19,793,870 100 % Shareholder Structure 13% Dallah Al baraka Holding 49% 38% Authorized Capital EGP 600 Million Bayt el Tawfik for Development Free Float Board of Directors o Eng. Abdulaziz Yamani Chairman Issued and Paid-up Capital EGP 197 Million o Ms. Hadeel Saleh Kamel Vice Chairman o Mr. Khaled Abu Heif Managing Director Number of Issued Shares 19.7 Million Shares o Eng. Jamal Afifi Board Member o Mr. Tarek Hosni Board Member Book Value per share o Mrs. Neveen El-Tahri Independent Board Member EGP 10 per share AMIC Investors Presentation 14 Corporate Governance • • • • • • • • • Annual shareholders’ meetings. Regular 5-6 board of directors’ meetings per annum. Periodical investment committee meetings. Rigorous investment process and defined investment strategies and guidelines (investment criteria and manual). Proper and adequate documentations of meetings, minutes, resolutions, and reports. Investment limits and authorities (strict adherence). Strict auditing and compliance (legal, accounting, investment, and reporting) procedures Disclosures and transparency to BOD members & shareholders as well as to official reporting for concerned authorities. Committed and experienced management team. AMIC Investors Presentation 15 Committees Audit Committee • The audit committee is structured to ensure independence and integrity of AMICs control system. • Composed of three non-executive directors to ensure: • The efficiency of the internal control • • • • system The intactness of the financial statements The efficiency and independence of the company's external auditor The internal auditors department is performing its role with the required efficiency Presenting periodic reports and recommendations to the Board of Directors Compensation Committee • The compensation committee is responsible for: • managing the company's incentive plans and • • • • programs and approving compensations; determining the compensations of the board members and the committees' members, according to the assessment and performance of each member separately; reviewing and approving the compensation levels set by the Committee for senior staff; providing recommendations and developing programs and plans to the Board for the incentives' eligibility; performing an annual report of the Committee's performance, including the conformity of the Committee with the Corporate Governance covenant. AMIC Investors Presentation 16 Management Mr. Khaled Abou Heif – Managing Director • Mr. Khaled Abou Heif was appointed as the • • • • • Managing Director of AMIC in 2011. Mr. Abou Heif is at present the Chairman of AT Brokerage (non-executive), Vice Chairman (non-executive) of AT Asset Management and AT Financial Holding and a Board Member in Egyptian Capital Market Association (ECMA) since 2008. Managing Director of Commercial International Brokerage Company (CIBC). led CIBC to rank first among brokerage companies. Mr. Abou Heif was formerly a board member in C.I. Capital Holding Formerly, Mr. Abou Heif served as a board member of Misr for Central Clearing, Depository and Registry (M.C.D.R.), a position he held till 2012. Mr. Abou Heif completed the Corporate Governance program by Wharton University Mr. Ahmed Ibrahim - Chief Operating Officer • Mr. Ahmed Ibrahim is AMIC's Chief Operating Officer since 2012 • • • • and is responsible for the entire operations, administrative and financial affairs of AMIC. Mr. Ibrahim was engaged in the financial institutions, consultancy and the international accounting offices for over 16 years. Chief Financial and Administrative Officer in Obelisk Asset Management Company for managing investment funds Planning and Budget Director at C.I. Capital Holding, a company of the Commercial International Bank group Mr. Ibrahim received his Master’s degree in Business Administration from ESLSCA Business School in 2010. Mr. Osama Ezzo –Chief Investment Officer • Mr. Osama Ezzo is the Chief Investment Officer of AMIC since • • • • • February 2013 and responsible for directing AMIC's investment policy and managing AMIC's investment portfolio. Mr. Ezzo was Investment Director & the Head of Fund Management at Misr Asset Management Senior Manager at Commercial Bank of Qatar (CBQ) Senior Credit Officer at National Bank of Kuwait (NBK) Mr. Ezzo worked as a Senior Credit Analyst in the Corporate Banking Division at Commercial International Bank (CIB) Mr. Ezzo is a CFA Charter holder since 2012 & holds a Masters in Finance & Management from Cranfield - UK in 2009 AMIC Investors Presentation 17 Strategy Forward Actual realization of value for AMIC’s shareholders, through: • Achieve growth in AMIC’s investment platforms. • Improve current investments operational performance to generate higher cash flows and profitability. Current Portfolio New Deals • Clean-up, restructure and disposal of nonperforming and stagnant investments to maximize recovery value and cash proceeds for AMIC. • Diversify • • • • Manageme nt investment portfolio in strategic industries such as food and beverage, healthcare, Expected Returns pharmaceutical, industrial …etc. Invest in new companies with sustainable competitive advantage and high growth prospects. Create and structure new holding vehicle(s) for growth plan. Active management to be fully aware and updated with all related parties. Close monitoring and follow-up on investment portfolio PORTFOLIO OVERVIEW AMIC Investors Presentation 19 AMIC Portfolio Overview Financial Services 71% 12 operating companies, in 6 different industries Real Estate 5% Industrial 5% Other 4% Pharmaceutical &Health Care 15% Water Treatment 1% Poultry 3% AMIC Investors Presentation 20 Subsidiaries & Affiliates Subsidiaries > 50% 89.99% 94% United Company for Investments & Real Estate Development Others < 20% Al Yosr Water Desalination & Purification 39.72% El-Rabie Poultry 38.20% FMCG Trading & Distribution Arab Company for Medical Appliances Arab Engineering Industries A.T. Lease Affiliates > 20% 50.67% 32.13% 28.34% Misr Arab for Broiler Production 13.00% Minapharm Pharmaceuticals 12.81% Minapharm ProBioGen 12.60% Alex Converta for Paper Industries (Handy) 7.60% Dar Al Fouad Hospital 5.60% AMIC Investors Presentation 21 PHARMACEUTICAL & HEALTHCARE SECTOR % from Total Portfolio 15% AMIC Investors Presentation 22 Minapharm Pharmaceuticals Overview • Minapharm Pharmaceuticals is an Egyptian • • • • Joint Stock company, established in accordance with the provisions of Law No. 159 of 1981 and its implementing regulations, and starts working since the date of its enrollment in the Commercial Register in 1986. The company manufactures and produces medicines, chemicals, medical and veterinary supplies, cosmetics and dental supplies, along with, distributing its products in Egypt and abroad. The company mainly produces drugs specialized in the treatment of heart, liver and abdominal diseases, including Interferon drug for the treatment of liver epidemic diseases. The Company's Authorized Capital: 500 Million Egyptian Pounds. The company is listed in the Egyptian Exchange since 2004. Name Dr. Saad Al-Bardisy Family AMIC Bank Invest Dr. Shabrawishy Family Others Total Ownership % 39.35% 12.81% 10.00% 9.93% 27.91% 100.00% Minapharm Revenues Net Profit 591.6 544.8 51.6 2011 51.5 2012 AMIC Investors Presentation 23 Minapharm Probiogen Overview • Minapharm Probiogen is an Egyptian Joint Stock company, enrolled in the Commercial Registration under the number 2247 dated 16th of November, 1999. • The company operates a factory for producing and manufacturing active substances used in diseases treatment, provided that these materials should be produced using only the modern techniques of genetic engineering. • The Company's Authorized Capital: 60 Million Egyptian Pounds. • The company's factory is in Tenth of Ramadan city. Name Minapharm AMIC Dr. Wafik AL-Bardisy Dr. Amr Al-Shabrawishy Others Total Ownership % 59.25% 12.62% 9.93% 6.80% 11.40% 100.00% Minapharm Probiogen Revenues 77.5 Net Profit 68.5 40.1 2011 35.4 2012 AMIC Investors Presentation 24 Dar Al-Fouad Hospital Overview • Dar Al Fouad Hospital is an Egyptian Joint Stock • • • • Company, established in accordance with the provisions of the Investment Law and enrolled in the commercial register under No. 198 in 1995 under the name of Dar El Fouad Hospital in Sixth of October. The main specialties of Dar Al Fouad Hospital are Cardiology, Cardiothoracic surgery, Oncology, Hematology and Organ Transplant in addition to integrated medical services, with the capacity of 150 beds for the comfort and follow-up of patients. The main goal of the hospital is to render a world class medical service and to improve the quality of life of patients. The company has an eminent reputation in the Cardiac surgeries through the cooperation agreements and technical support with the Cleveland Clinic in USA. The Company's Authorized Capital: 237.6 Million Egyptian Pounds. Name Tawgeeh for Services & Investment Amic National Bank Of Egypt Banque Misr Others Total Ownership % 25.79% 5.49% 8.22% 8.59% 51.91% 100.00% Dar El Fouad Revenues Net Profit 271.5 215.8 36.4 17.5 2011 6th of October, Giza 2012 Nasr City, Cairo Kuwait City AMIC Investors Presentation 25 Arab Company for Medical Appliances (ACMA) Overview • Arab Company for Medical Appliances (ACMA) • • • • • is an Egyptian joint stock company, established in accordance with the provisions of Law 43 of 1974 and enrolled in the commercial register in 1989. The purpose of establishing the company is working in the production of medical supplies of diagnostic X-ray films and chemicals. ACMA owns 85% in Akma Com Trading Company, a distribution company for the domestic and imported medical supplies. ACMA’s main business partners are Fuji, Kodak and AGFA. ACMA sells its products mainly through tenders for most of the public sector (the Social insurance and the Ministry of Health, hospitals, Armed Forces, hospitals, and other agencies). ACMA also exports part of the production to some Arab countries as Iraq. The Company's Authorized Capital: 30 Million Egyptian Pounds. Name Arab Co. for Medical Appliances AMIC Misr Insurance Misr for Life Insurance Total Ownership % 42.65% 28.34% 15.57% 13.44% 100.00% ACMA Revenues 30.6 Net Profit 36.4 6.2 4.2 2011 2012 AMIC Investors Presentation 26 FINANCIAL SERVICES SECTOR % from Total Portfolio 71% AMIC Investors Presentation 27 Al-Tawfik Lease (AT-Lease) Overview • A.T. Lease is an Egyptian Joint Stock Company, • • • • • established in accordance with the provisions of Law No. 8 of 1997. The General Authority for Investment has set the starting date for the activity of the company effective from 9th of October 2006. The purpose of the company is working in the field of financial leasing according to the second article of the Financial Leasing Law No. 95 of 1995 and its implementing regulations and amendments. A.T. Lease shares in A.T. finance Lease for small and medium-sized companies with 99.9% of its paid-up capital amounting to 20 Million Egyptian Pounds. The Company's Authorized Capital: 400 Million Egyptian Pounds. A.T. Lease is one of the top companies dealing in the leasing market in Egypt, according to the Egyptian Financial Supervisory Authority rankings. Name AMIC Baraka Bank- Egypt Total Ownership % 90.00% 10.00% 100.00% AT Lease Revenues Net Profit 318.6 248.8 17.1 2011 13.8 2012 AMIC Investors Presentation 28 INDUSTRIAL & RETAIL SECTOR % from Total Portfolio 4.8% AMIC Investors Presentation 29 Arab Engineering Industries Overview • Arab Engineering Industries (AEI) is an Egyptian Joint Stock Company established under the Investment Law No. 230 of 1989 and under the decision of the Minister of Economy and Foreign Trade No. 213 of 1989 licensing the establishment of the company. • The purpose of AEI is manufacturing wired condensers for household refrigerators, and producing steel wire. • AEI is considered the main local supplier of refrigerator production in Egypt, besides, exporting to a number of Arab countries as Kingdom of Saudi Arabia and Sudan. Name AMIC Sheikh. Khaled Al Khalifa Mostafa Abd El Samaad Others Total Ownership % 50.67% 14.00% 7.43% 27.90% 100.00% A.E.I. Revenues Net Profit 38.5 33.9 9 7.6 2011 2012 AMIC Investors Presentation 30 F.M.C.G. Overview • F.M.C.G Trading & Distribution is an Egyptian joint stock company, established in 1995. • The purpose of establishing F.M.C.G. is for the import and export business, commercial agencies, marketing and selling of food commodities and other goods and equipment's in addition to establishing, renting and managing warehouses, refrigerators and slaughterhouses for manufacturing and packaging poultry products and all food products, in Egypt and abroad. • F.M.C.G. has a number of distinguished commercial agencies as Kellogg's, Digestive Biscuits, and Ulker • The Company's Authorized Capital: 50 Million Egyptian Pounds. Name Dallah Al Baraka AMIC Others Total Ownership % 67.77% 32.14% 0.09% 100.00% FMCG Revenues 86.2 Net Profit 92.7 4 2011 4 2012 AMIC Investors Presentation 31 Alex Converta (Handy) Overview • Alex Converta is an Egyptian joint stock company established in accordance with the provisions of Law No. 159 of 1981.. • The purpose of establishing the company is the manufacture of scented and unscented sanitary paper products, raw materials and fittings and exporting them abroad as well as importing of raw materials and products’ supplies. Name Al Shaer CIIC CIB AMIC Others Total Ownership % 39.20% 20.10% 8.00% 7.60% 25.11% 100.00% Handy Revenues 28.8 Net Profit 35.5 • The Company's Authorized Capital: 50 Million Egyptian Pound. • The Company's factory is in Burj Al Arab Industrial City - Alexandria. 2011 -4.1 2012 -0.7 AMIC Investors Presentation 32 REAL ESTATE SECTOR % from Total Portfolio 5.2% AMIC Investors Presentation 33 United Company for Investment and Real-estate Development Overview • UCIRD is an Egyptian joint stock company, established in accordance with the provisions of Law No. 159 of 1981 and its implementing regulations in 2008. Name AMIC Dallah El Baraka FMCG Total Ownership % 94.00% 5.00% 1.00% 100.00% • The purpose of UCIRD is to carry out all forms of real estate developments and all the entailed and consequent activities as purchasing, selling, and renting properties in addition to land acquisitions, development and establishing different sorts of constructions (touristic except floating, commercial, administrative and residential). UCIRD Revenues 0 Net Profit 0 2011 2012 -0.09 • The Company's Authorized Capital: 100 Million -0.35 Egyptian Pounds. Number of lots Location Tot. Area 18 Heliopolis, Cairo 16,400 m2 1 Smart Village 2,073 m2 AMIC Investors Presentation 34 POULTRY SECTOR % from Total Portfolio 3.0% AMIC Investors Presentation 35 Al Rabie Poultry Overview • Al Rabie Poultry is an Egyptian Joint Stock company, established in 1996 • The purpose of the company is breeding parent chicken meat for the production of hatching eggs and one day old chicks Shareholder Structure AMIC Misr Al Arabia for Poultry Bayt Al Tawfik for Development Arab Company for agricultural Investments Sheikh Saleh Kamel Others Total • Al Rabie Poultry is operating a poultry feed Al Rabie unit • The company also farms its owned lands that surround the production units (Olives and Grapes) Ownership % 38.30% 32.00% 10.72% 6.80% 0.81% 11.37% 100.00% Revenues Net Profit 48.8 45.1 7.2 6.1 • The Company's Authorized Capital: 25 Million 2011 Egyptian Pounds • The company operates over a total of 610 Acres. • The company’s farms are located in El Faregh Valley – Cairo Alexandria Desert Road Parent & Hatchery Production •12 million chick / year Feed • Capacity of 24,000 tons / year Olive & Grapes farms 2012 AMIC Investors Presentation 36 Misr Arab For Broiler Production Overview • Misr Arab For Broiler Production is an Egyptian Joint Stock Company established in accordance with the provisions of the Investment Law No. 95 of 1992. Name Misr AL Arabia for Poultry AMIC Baraka For investment and development Sheikh. Hussien El Harthey Others Total • The company’s main purpose is constructing Badary and operating poultry breeding farms (all types of white meat-producing poultry) • The Company's Authorized Capital: 26 Million Ownership % 29.00% 15.00% 12.00% 20.00% 24.00% 100.00% Revenues Net Profit 46.5 43.5 Egyptian Pounds. 1.6 • The company’s farms are located in El Faregh Valley – Cairo Alexandria Desert Road. • The company operates over a total of 100 Acres 2011 -1 2012 Broiler • 3.6 million chicken / year AMIC Investors Presentation 37 WATER TREATMENT SECTOR % from Total Portfolio 1.3% AMIC Investors Presentation 38 Al Yosr Water Desalination Overview • AL – Yosr Water Desalination & Purification is an Egyptian joint stock company, established in 1987. • The purpose of the company is to manage, Name Dallah el Baraka AMIC Dallah for Real estate investments Others Total operate and maintain water stations for desalination of sea water and turning it into drinking water. • The Company's Authorized Capital: 120 Million Ownership % 39.50% 39.71% 11.92% 8.87% 100.00% Al Yosr Revenues Net Profit 0.8 0.55 0.4 Egyptian Pounds. 0.2 2011 2012 THANK YOU For Further Information, please visit our website: www.amic-eg.com For Investor Relations Queries, please contact: ir@amic-eg.com Investor Relations Manager: Raghda El-Zahhar relzahhar@amic-eg.com