Investor Presentation 1Q 2017 - Inktank IRresources.inktankir.com/ekh/EKH-Presentation-1Q17-IRP-v2.pdf · Investor Presentation 1Q 2017 ... This presentation is not intended to be

Investor Presentation 1Q 2017

RESILIENCE

Investments that Stand the Test of Time

Egypt Kuwait Holding | Investor Presentation 2

Cautioning and Forward Looking Statements

This presentation was prepared by Egypt Kuwait Holding (“EKH”) and is strictly confidential and may contain market sensitive information. All recipients hereof who are

permitted to receive the same are bound by the restrictions on disclosure and use and other terms thereof. The provision of this presentation is intended for discussion

purposes only, and no person has represented or warranted the accuracy or completeness of any information contained herein. It does not constitute an offer or

recommendation to enter into any transaction by EKH, its affiliates or its officers, directors or advisors. If you decide to enter into a transaction you do so in reliance of your

own judgment. When making an investment decision, you should rely solely on the final documentation relating to the transaction and not this presentation. This presentation

is strictly confidential and speaks only as of the aforementioned date. This presentation is not intended to be relied on for any purposes by any person without EKH’s consent.

Neither EKH nor any of its affiliates are under any obligation to consider or enter into any transaction. EKH and its affiliates shall not have any liability for any information

contained in, or any omission from, the presentation or any other written or oral communication transmitted to the recipient(s) and they disclaim all liability for any direct,

indirect, consequential or other damages or losses incurred by the recipients or any third party that arise from any

reliance on this document or its accuracy.

AGENDA

EKH OverviewInvestment Portfolio• Fertilizers and Petrochemicals Segment• Energy and Energy-Related Segment • Diversified Segment

Future Expansion• MDF Project

Financial Highlights

Appendix 1: Organization & Governance


EKH OVERVIEW


EKH at a Glance

19 investments in strategic

sectors, ranging from

fertilizers and petrochemicals

to energy, building materials

and insurance

> 4,000professionals employed by

the holding company and its

subsidiaries

USD 1.1 bntotal assets

USD 401 mntotal equity book value

> 15 %average ROE in the

past 10 years

c. USD 256.1 mnpaid-in capital

c. USD 889 mncumulative net profit [2005-16]


EKH AND ITS COMPANIES BENEFIT FROM A CLEAR STRATEGY AND INVESTMENT PHILOSOPHY

Hands-on investor and operator Develop greenfield operations to leverage

operational expertise

Secure strategic partnerships with

leading international value added

industry players

Long-term investor with opportunistic

exit strategy

Create synergies between different

group companies

Expand industry expertise to

new markets


PRIMARY PORTFOLIO INVESTMENTS

AlexFert

(Ammonia, Urea Fertilizer and

Ammonium Sulfate Plant)

Sprea Misr

(Chemicals Plant)Effective Ownership

100.00%

Effective Ownership

37.8%

NatEnergy

(Gas Distribution Business Holding

Company)

Effective Ownership

100.00%

Effective Ownership

30.00%

Building Materials Industries

Company

(Cement Plant)Effective Ownership

38.03%

Delta Insurance

(Life and General Insurance

Company)Effective Ownership

32.03%

Global Infrastructure Fund

Management CompanyEffective Ownership

15.00%

Egyptian Company for Petroleum

Transport

(Shipping Company)

Fertilizers and Petrochemicals Segment

(58% of Group Profitability in 1Q17)

Energy and Energy-Related Segment


Diversified Segment



OPERATIONAL HIGHLIGHTS OF THE 1Q17

1Q 2017 Margins

Gross Profit

Margin

Attributable

EBITDA

Margin

37% 35%

Q4 2016 Margins

Gross Profit

Margin

35% 38%

Revenues (USD mn)

80

105 103

4Q 2016 1Q 2016 1Q 2017

Gross Profit (USD mn)

28

38 38

4Q 2016 1Q 2016 1Q 2017

Attributable Net Income (USD mn) Attributable EBITDA (USD mn)

15

22 22

4Q 2016 1Q 2016 1Q 2017

19

2725

4Q 2016 1Q 2016 1Q 2017

Attributable

EBITDA

Margin


OUR PORTFOLIO


FERTILIZERS AND PETROCHEMICALS SEGMENT


KEY FACTS & FIGURES

Products & Production Capacity:

• Formaldehyde and form-urea (production

capacity of 132tpa)

• Urea formaldehyde glues and melamine

formaldehyde resins (production capacity of

102tpa)

• Urea, melamine and phenolic molding

compounds (production capacity of 3.6tpa)

• Formica (high pressure laminate) (production

capacity of 2.7 mn sheets pa)

• SNF Sulphonated Naphthalene Formaldehyde

(production capacity of 88tpa)

Subsidiary: Plastichem

100% owned

Target markets: Arab Countries and Africa

Activities: Commercial production of

fertilizers and petrochemicals for domestic

and export sale, with more than 35% of

revenues coming from export sales

Over 85% market share in EgyptEKH acquired Sprea Misr and its subsidiary

Plastichem in 2007

Export markets include: 38 countries in

Africa, the Middle East, Europe, the US and

Latin America

630 employees

EKH Ownership: 100.0%

Current shareholders equity of c.USD 63 mn


HIGHLIGHTS OF 1Q17

EGP 585mn total revenues

Up 124% Y-o-Y

EGP 210mn EBT

Up 181% Y-o-Y

EGP 210mn & 36% EBITDA Margin

Up 172% Y-o-Y

EGP 163mn Net Profit

Up 186% Y-o-Y


SPREA 10 YEARS PROGRESION

Sales (EGP mn) Gross Profit (EGP mn)

Net Profit (EGP mn) (1)

302401

282353

418 430530

667727

1,124

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

88 104 94 102 102 101156 169

211

420

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

37 41 42 59 55 65

107 126 125

302

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

EBT (EGP mn)

45 43 48 67 62 74 122 125

170

391

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

1) 2015 Sprea tax holiday expiration.


SPREA EXPANSIONS

Sprea witnessing an aggressive expansion plan to meet the growing demand in its products locally and in international markets

targeting to grow its export footprint that represent c.20% in FY16 to 60% by 2019

Land • 28,000m2 new plot of land adjacency to Sprea plant to meet future expansion is secured 1

Formica & HPL (high

pressure laminated)

• Adding 2 lines of Formica with total capacity of c.1.8 million sheets annually growing Sprea

Formica capacity to c.4.3 million sheets by 3Q 2017

• Formica expansion dedicated in full towards export markets

• HPL & Impregnation new line with total capacity of 720k sheets by 4Q 2017

2

Formurea• Adding 2 lines of Formurea Powder with total capacity of c.10.8 ktpa

• growing Sprea Formurea capacity to c.33.3 ktpa by 2Q 2017

3

SNF Mega Expansion

• Building on the success of SNF expansion Sprea considering to add 88ktpa SNF capacity by

2Q2018

• A new plot of land adjacency to Sprea plant to meet future expansion is secured

4

Formaldehyde• Growing Sprea current formaldehyde capacity that run at 90% utilization rate

• Formaldehyde capacity is essential for Sprea backward integration 5


KEY FACTS & FIGURES

Products & Production Capacity: • Granular urea (maximum production

capacity up to 635,000 tons)• Residual ammonia (up to 396,000

tons pa)• Ammonium sulphate (c.165,000

tons pa)

Subsidiary:

International Petrochemicals Investments

Company (IPIC)

• Est 2012

• Invests in and acquires promising

companies in the fertilizer and

petrochemical industry

• Target markets: Egypt and abroad

Activities: Commercial production of

fertilizers for domestic and export sale

• EKH Ownership: 37.8% with

Management Control

• Remaining ownership: 34.9% other

shareholders of Bawabat Al Kuwait,

15% AbuQuir Fertilizer, and 12.3%

held by other shareholders

AlexFert is managed and controlled by

EK Holding as well as consolidated in

its financials

442 employees

Established in July 2003


HIGHLIGHTS OF 1Q17

USD 50mn total revenues

Up 28% Y-o-Y

USD 13mn EBT

Up 85% Y-o-Y

USD 20mn & 41% EBITDA Margin

Up 54% Y-o-Y

• Operates at 119% utilization rate rates in 1Q 2017 vs. forecasted utilization of 80% according to EGAS plan.

• Gas pricing formula based to correlate the price of the natural gas to the price of the urea with a bottom price of $4.5 /MBTU based on

urea price $250/ton and every $1 dollar increase in the urea price the gas increase by ₵1 Cent

• The settlement between Bawabat El Kuwait and Egyptian Government have been approved & signed

USD1.8mn Att. Net Profit

Up 105% Y-o-Y


ENERGY AND ENERGY-RELATED SEGMENT


KEY FACTS & FIGURES

Established in 2010

Activities:

• Building and operating gas distribution

networks

• Transporting gas to large power stations

• Independent power producer with 1 of

the 2 available licenses to sell electricity

directly to 3rd parties

1400 employees

83.97% 77.99% 83.97% 91.99%

Over 15% market share in Egypt

1) As of August 12th ,2015 Natenergy acquired of an additional 18% stake in Natgas

2) As of April 01st,2016 Natenergy increased its stake in Natgas by 9% via Capital Increase

(1) & (2)

EKH Ownership: 100%

• c.1.2 million Household Clients

• c.6k Commercial Customers

• c.625 Industrial Customers


NATENERGY CONCESSIONS

• Phase I Fayum City

• Phase II Fayum City

• Extension Phase II Fayum City

• Extension Phase II Fayum City

*


NATENERGY HIGHLIGHTS OF 1Q17


Up 24% Y-o-Y EGP115mn EBT

Up 55% Y-o-Y

EGP72mn & 31%EBITDA Margin

Up14% Y-o-Y

EGP 1.23bn total Cash

Up 23% Y-o-YEGP92mn Net Profit

Up 53% Y-o-Y

EGP77mn Att. Net Profit

Up 71% Y-o-Y


NATENERGY KEY DRIVERS - NATGAS HIGHLIGHTS OF 1Q17


Up 19%Y-o-YEGP 91mn EBT

Up 60% Y-o-Y

EGP 51mn & 30% EBITDA Margin

Up 19% Y-o-Y

• Connected 27,194 households in 1Q17 and 88

industrial and commercial users.

EGP 818mn total Cash

Up 14% Y-o-YEGP 74mn Net Profit

Up 60% Y-o-Y

EGP 62mn Att. Net Profit

Up 82% Y-o-Y


DIVERSIFIED SEGMENT


KEY FACTS & FIGURES

Located in Assiut

Activities: Produces various types of gray

cement, clinker and related products such as

cement bricks and ready-mix cement that

meet Egyptian and international standards

EKH ownership: c.38%

Other partners: South Valley (46%), Hayel

Said (10%), and others (6%)

Paid up capital of c.EGP 614 mnTotal production capacity of c.1.8 mn tons

per annum

The company is currently using mazot as the

main source of power and is studying

conversion to a dual system, mainly

utilizing coal as well as waste

Reached maximum production capacity at

end-2013

Greenfield cement producer founded in

2007


KEY FACTS & FIGURES

Established in 1981 and

acquired by EKH in 1999+19 branches

Activities: Provides financial protection

through innovative insurance products and

services

EKH ownership: c.32% Paid up capital of c.EGP 22.5mnHolds c.5% share of the Egyptian insurance

market

+300 employees Publicly listed

Three Service Categories:

• Corporate Solutions Plans

• Individual Protection Plans

• Group Life Insurance Plans


Al-Shorouk for Melamine and

Resins (Al-Sharif):

• Successful and well-established tableware manufacturer

• Founded in 1979 and acquired by EKH in 2007

• Benefitting from synergies with Sprea Misr (see slide 16)

• Strong consumer trust built on commitment to health and safety

• 2 production lines with a combined 75 presses and overall production capacity of 2,500 tons p.a.

• Plans to expand its production capacity to 3,000 tons p.a. with 5 new presses

• +500 employees

• ISO 9001:2008 and ISO 14001:2004 certified

• Supplies all of the hypermarkets in Cairo and distributes products across Alexandria and cities in Upper Egypt and the Delta

• Export activities focus primarily on the Middle East and Africa

Gas Chill

• Established by EKH in 2006

• Specializes in district cooling systems for industrial and commercial clients

• c.30 commercial clients in Egypt and a view to expanding regionally in the future

• Primarily caters to large facilities such as malls, factories and hospitals through build-own-operate (BOO), build-operate-transfer (BOT), or engineering, procurement and construction (EPC) agreements

• As a pioneer in cooling technology in Egypt, Gas Chill is also looking into alternative forms of energy to power its state-of-the-art cooling systems, including harnessing readily available solar and wind energy in Egypt

Bawabet al Kuwait Holding

Company:

• Founded in 2004 by EKH

• Is poised to become a major investor in the fertilizers and petrochemicals sector

• Holds ownership stakes in AlexFert, and other petrochemical companies in the Gulf Cooperation Council (GCC)

• EKH currently holds a 42% stake

Globe Technologies:

• Greenfield investment established in 2001 by EKH

• Focuses on providing technology systems geared towards facilitating business operations.

• Conducts in-house software research and development, and has partnerships with leading international firms such as Intergraph, Psion and TomTom

• GT is the sole and exclusive partner of Intergraph in Egypt, has agreements with CB&I and is the trusted partner for Egypt’s ports, as well as the main supplier for Enppi’s CCTV and Engineering Software (PPM)

KEY FACTS & FIGURES

Global Infrastructure Fund

Management Co:

• I Squared Capital announced the closure of the Fund in April 2015, with total commitments of USD 3 bn

• Marketing process was completed in 15 months with over 45 investors from North America (31%), Europe (27%), Australia (17%), the Middle East (15%), and Asia (10%)

• c.70% of the investors are pension funds, superannuation funds and sovereign wealth funds with insurance companies, asset managers and family offices representing the balance

• The Fund focuses on global infrastructure opportunities in diverse sectors of high-growth economies, maintaining a robust pipeline of investment opportunities in the U.S., Europe, China and India

• EKH has an effective ownership of 15%


FUTURE EXPANSION


FUTURE EXPANSIONS - MDF PROJECT

A Growing MDF Market Gap in the Egyptian Market…

• Represent the 2nd largest Engineered wood market of 45% following Plywood

representing 49%.

• Only one producer “Nagaa Hamady Co”.

• Huge market gap of 415k m3

• Market gap to reach 773k m3 in 2020f.

• Imports of 431,000 m3 FYE 2015.

• Demand is expected to grow at a 12% CAGR.

Year/’000 m3 Local

ProductionImports Exports Consumption

2015 53 431 16 468

2016f 56 488 18 526

2017f 59 553 20 591

2018f 62 626 23 665

2019f 65 708 26 747

2020f 68 802 29 841

High dependence on MDF Imports in the regional market…

570 316181

1,067

209.0 115.9

66.4

391.2

0

200

400

600

0

500

1000

1500

000 m3 Value in US$ Mn

Integration with Sprea Misr

• Main supplier of resin which represent 42% of MDF raw-material cost &

30% of COGS (≈ EGP 71 Million per annum).

• Currently imports around 75,000 m3 of MDF

• Own Impregnation line adding decorative melamine paper to the MDF

sheets & sell it to local market

3

1 2

Project rationale supported by the following…


FUTURE EXPANSIONS - MDF PROJECT

Key Financial Highlights – Capacity of 1000 M3/Day

EGP mn 2019F 2020F 2021F 2022F 2023F 2024F 2025F 2026F 2027F 2028F

Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10

Capacity 150,000 150,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000

Revenues 655.4 746.7 1,217.2 1,640.6 1,758.4 1,797.6 1,837.8 1,879.0 1,921.3 1,964.7

EBITDA 321.8 352.2 545.8 721.8 744.7 728.4 709.6 688.2 663.9 636.5

EBITDA Margin

- %49.1% 47.2% 44.8% 44.0% 42.4% 40.5% 38.6% 36.6% 34.6% 32.4%

Net Profit 123.3 153.9 268.7 381.8 418.1 423.9 427.8 429.7 420.7 406.3

NPM - % 18.8% 20.6% 22.1% 23.3% 23.8% 23.6% 23.3% 22.9% 21.9% 20.7%

Total Investment Cost EGP 2 Bn

MDF Production Plant EGP 1.6 Bn

Agriculture EGP 0.4 Bn

MDF Production

Plant PlanInvestment Cost Operation Year

Line 1 EGP 0.9 Bn January 2019

After 1.5 years from operations , July 2020, will start constructing

new line to increase the total capacity to 1000 M3/Day

Line 2 EGP 0.7 Bn July 2021

* Tax exempted till Year 6 - 2024


FINANCIAL HIGHLIGHTS


EKH’S FINANCIALS ARE SOLID

Total Assets (USD Mn) (1) Total Equity Book Value (USD Mn) (1)

Total Attributable Net Profit (USD Mn) (1)

438 518 528

974

1,679 1,6731,858 1,750

2,2882,076

1,603 1,528

1,012

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

175219

275

531 569651

869764 740 724

562 522

401

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

1) FY 2014 restated financials to account for asset impairments related to the company’s oil operations.

Return on Average Equity (ROAE) (1)

29

55 56

104120

131145 150

83

42

-95

36

63

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

18%

28%

23%

26%

22% 22%19% 18%

11%

6%

-17%

7%

15%

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Average 15.1%


EBITDA & DEBT OVERVIEW

(In ‘000 USD) 1Q 2017

Long-term interest-bearing debt 102,884

Short-term interest-bearing debt 81,787

Gross interest-bearing debt 184,671

Cash & quasi cash (515,744)

Consolidated Net debt (cash) (331,073)

Attributable Net debt (cash) (207,302)

Net Debt (Cash)

Segmented EBITDA (In ‘000 USD) 1Q 2017 4Q 2016

Fertilizers and Petrochemicals 18,958 11,301

Energy & Energy Related 3,488 2,886

Diversified 2,083 5,516

Attributable EBITDA 24,529 19,704

Attributable EBITDA


APPENDIX 1: ORGANIZATION & GOVERNANCE


BOARD OF DIRECTORS

Mr. Moataz Al-Alfi

Chairman of the Board

and Chief Executive

Officer

Mr. Loay Jassim Al-

Kharafi

Vice Chairman of the

Board

Mr. Sherif El Zayat

CEOMr. Saad Al-Saad

Member of the Board

Mr. Abdel Mohsen Al-

Fares

Member of the Board

Mr. Marzouk Al-

Ghanim

Member of the Board

Mr. Assad Al-Banwan

Member of the Board

Mr. Hussein Al-

Kharafi

Member of the Board

Mr. Ayman Laz

Member of the Board

Sheikh Mubarak

Abdulla Al-Mubarak

Al-Sabah

Member of the Board

Sheikh Fahd Hamed

Abdulah El Sabah

Member of the Board

Eng. Amin Abaza

Member of the Board

Mr. Talal Jassim Al-

Khrafi

Member of the Board

Mr. Husam Mohamed

El-Sayed

Member of the Board

Eng. Ismail Osman

Member of the Board

Mr. Mohamed Kamel

Member of the Board

Marzouk Al Kharafi

Member of the Board

Mr. Hussam Al

Kharafi

Member of the Board

Mr. Waleed El Zorba

Member of the Board


MANAGEMENT TEAM

Mr. Moataz Al-Alfi

Chairman of the Board

and Chief Executive

Officer

Mr. Sherif El Zayat

CEO

Mr. Ayman Laz

Advisor to the Chairman

and CEO

Mrs. Sahar Farahat

Senior Executive Vice

President

Mr. Medhat Bonna

Group Chief Financial

Officer

Mr. Khaled El-

Demerdash

Group Legal Counsel

Mr. Tamer Badrawi

Chief Human Resources

& Communication

Officer

Mr. Hany Azzam

Head of Corporate

Governance

Mr. Mr. Mahmoud

Moharram

General Counsel

International

Mr. Hany Ezzat

Group Treasurer

Mr. Sayed Hussein

Sector Head — Cement

Mr. Alaa El Banna

Vice President —

Special Projects

Mr. Elhamy El Sheikh

Sector Head — Gas

Mr. Omar Foda

Director – Investments

Mr. Haitham Abdel

Moneim

Senior Investor

Relations Manager


KEY MILESTONES

1997

Establishment of

Egypt Kuwait

Holding (EKH)

1998

Establishment of

NatGas (gas distribution

company, with current partners

including Royal Dutch Shell and

GAIL India)

1999

• NatGas commences

operations

• Initial acquisition of a

significant stake in

Delta Insurance (an

Egyptian insurance

company)

2002

Acquisition of majority stake in

Egyptian Glass Company (EGC)

(at the time the largest glass

manufacturer in North Africa)

through a joint venture with

Guardian Industries

2003

• Establishment of AlexFert (nitrogen fertilizer plant)

• Acquisition of 11.75% in Egyptian Ferilizer Company (EFC)

(nitrogen fertilizer plant)

• Acquisition of a minority stake in Fayum Gas (gas

distribution company)

• Establishment of Nubaria Gas (gas distribution company)

• Establishment of Kahraba (provides electrical and

thermal energy solutions)

2004

Acquisition of an

additional stake in

Delta Insurance

2005

Participated in the bidding

process to acquire 100% of

EFC, which ultimately led to

the divestiture of the stake

2006

• AlexFert commences operations

• Establishment of Egyptian Tanker Company

(ETC) (crude marine transport services)

• Establishment of Gas Chill Company (provides

cooling/heating systems)

2007

• Capital increase by means of a c.USD 100 million rights issuance

• Acquisition of Sprea and Plastichem (chemicals company)

• Establishment of Building Materials Industries Company (BMIC)

(cement production company)

• Acquisition of a controlling stake in Fayum Gas through a joint

venture with GAIL India

2008

• Establishment of Nile Takaful and Nile Family Takaful

(an Egyptian insurance company) as a joint venture

with Tokyo Marine

2009

• Divestiture of EGC to

Guardian Industries

2011

• Investment in

Egyptian

Hydrocarbon

Corporation

(EHC) (mining

grade ammonium

nitrate Plant)

2012

• BMIC begins

operations

2013

• Divestiture of Nile Takaful to

Tokyo Marine

• Investment in a global

infrastructure fund management

company

2014

• Completion of a

capital increase by

means of a c.USD

110 mn rights

issuance

2016

• Sprea comments production of

Sulfonated Naphthalene

Formaldehyde (SNF) with design

capacity of 66,000 tpa.

• Acquiring additional 9% of Natgas

raising EKH ownership to 84%

2015

• Acquiring 18% of

Natgas raising EKH

ownership to 57%


CORPORATE CITIZENSHIP

Corporate Governance

Egypt Kuwait Holding (EKH) is committed to promoting a responsible, ethical business culture which safeguards the interests of our

shareholders, stakeholders, and the environment in which we operate. EKH assesses its policies and performance with respect to its Business

Principles; Code of Conduct; Health, Safety, Security and Environment (HSSE) policies; and major issues of public concern on behalf of the

Board. Our corporate governance policies and practices are guided by internationally recognized standards such as the OECD Principles of

Corporate Governance.

Corporate Social Responsibility (CSR) Projects

From its support of NGOs through applications and donations, to its involvement in spreading software knowledge to Egyptian universities,

Egypt Kuwait Holding is proud to have participated in numerous educational initiatives since 2014. EKH offers assistance to surrounding

schools, supplying them with computers to further develop students’ cognitive and technical skills and providing support for renovating the

infrastructure of the educational institutions.

EKH is an active supporter of Injaz Egypt, an organization working to bridge the gap between the education system and the private sector.

In partnership with the Ministry of Education and multinational and national companies, the program has positively impacted 500,000

Egyptian students in more than 451 public schools and 21 universities in 26 governorates since its establishment in 2003. Injaz Egypt is a

member nation of Junior Achievement, a global economic education organization with a presence in over 100 countries, impacting over 8

million youth worldwide

Egypt Kuwait Holding (EKH) prides itself on actively participating in sustainable development, focusing on improving communities in the

emerging economies in which it does business and working diligently to create a better future for coming generations. From educational

initiatives and contributions to NGOs and charities, to stringent measures aimed at minimizing its environmental footprint, EKH remains

deeply committed to ensuring a sustainable future.


Haitham Abdel Moneim

Senior Investor Relations Manager

Telephone : +202-3363300

Fax : +202-3358989

E-mail : [email protected]

Website : www.ekholding.com

Documents

Investor Presentation 1Q 2017 - Inktank IRresources.inktankir.com/ekh/EKH-Presentation-1Q17-IRP-v2.pdf · Investor Presentation 1Q 2017 ... This presentation is not intended to be