Koc Holding A.s. · BIST:KCHOL
Koc Holding A.s — Q1 2022 Earnings Presentation
24 slides from Koc Holding A.s's earnings presentation, May 9, 2022
Slide 1: Koç Holding 1Q22 Earnings Presentation
KOÇ HOLDING 1Q22 EARNINGS PRESENTATION 9 MAY 2022 1Q22 Earnings Presentation
Slide 2: Agenda
Agenda Koç Holding Key Indicators Highlights on Main Sectors Our ESG Journey Historical NAV 2 1Q22 Earnings Presentation
Slide 3: Agenda
Agenda Koç Holding Key Indicators Highlights on Main Sectors Our ESG Journey Historical NAV 3 1Q22 Earnings Presentation
Slide 4: Focus on Sustainability and Resilience
Focus on Sustainability and Resilience Sectoral & Geographical Diversification Net Asset Value Breakdown by Sector1 International Revenues / Total Combined Revenues Auto 57% (PC & CV Manufacturing) including FX linked 38% 33% 32% revenues of Tüpraş Auto (Other) Finance 11% 10% Refining 14% Other ass
Slide 5: Business Model Ensures Sustainability of Dividend Income
Focus on Sustainability and Resilience Business Model Ensures Sustainability of Dividend Income Dividend Income Dividend Payout1 TL Million TL Million Dividend 5,227 2020 2021 Apr'22 vs.2021 Tüpraş (via EYAŞ) -- -- -- n.m. Dividend Payout 12% 16% 15% Ford Otosan 421 1,382 1,763 28% 3,497 Tofaş 451 5
Slide 6: Solid Liquidity Maintained on the back of Healthy Dividends
Focus on Sustainability and Resilience Solid Liquidity Maintained on the back of Healthy Dividends Net Cash Bridge TL Million = USD 275mn = USD 136mn 3 Net cash including - 556 USD 510mn 775 4.452 - 2.752 Adjusted net cash YKB AT1 as of 2021YE 7.463 including YKB AT1 + USD 1.8bn - 3.494 Gross cash i
Slide 7: Key Metrics
Key Metrics Fundamentals Remain Intact on the Back of Prudent Management Strong Cash Position1 Solid Liquidity Flat FX Position USD 136mn 1.2x Flat Solo Current Ratio Solo Adjusted Net Cash on Combined Basis4 FX Position + USD 1.4bn + USD 201mn Adjusted Gross Cash Consolidated FX position TL after n
Slide 8: Agenda
Agenda Koç Holding Key Indicators Highlights on Main Sectors Our ESG Journey Historical NAV 8 1Q22 Earnings Presentation
Slide 9: Energy
Energy Rebound in Refining Margins and Inventory Gains Delivered a Positive Bottom-Line Domestic Market Sales Volume Crack Margins 1Q22 Highlights Million Tonnes USD/bbl, Monthly Diesel Jet Fuel Gasoline 31.6 Growth in domestic demand y/y +2% +58% +43% -2.0% Growth 24.0 Rebound in crack margins 3.4
Slide 10: Automotive
Automotive Solid Export Contracts and Favorable Product Mix Sales Volume Monthly Growth Trend 1Q22 Highlights Thousand Units y/y Koç Total Turkey Exports Ma rket Share 14% 61% 24% 25% 46% Passenger Cars (Turkey) Favorable product mix Light Commercial (Turkey) 700% y/y -25% -17% -1% -23% -14% Solid e
Slide 11: Consumer Durables
Consumer Durables Newly Acquired Operations and Currency Tailwinds Supported Top Line Growth Sales Volumes Across Markets1 Monthly Growth Trend 1Q22 Highlights Million Units y/y " Koç Ma rket Share 20% 68% 26% 30% 41% Strong domestic and international revenues y/y -9% -3% +29% -9% +6% Turkey Exports
Slide 12: Finance
Finance Strong ROTE Performance Driven with Solidified Fundamentals TL Lending Growth Sector’s Loans & Deposits 1Q22 Highlights 13 Weeks Annualized TL, USD Billion 80% Private State Sector Ongoing market share gains on small ticket lending & demand deposits 3M22 q/q y/y 60% Loans 5.5 11% 47% Lower C
Slide 13: Group's 1Q22 Financial Performance
Group’s 1Q22 Financial Performance Robust y/y Performance at all Segments Financial Performance TL Million Consumer Energy Automotive Finance Other TOTAL Durables Combined Revenues 1 113,178 50,195 32,558 27,471 9,528 232,929 Change (y/y) 240% 64% 116% 95% 108% 138% Segment Share in Total 49% 22% 14
Slide 14: Agenda
Agenda Koç Holding Key Indicators Highlights on Main Sectors Our ESG Journey Historical NAV 14 1Q22 Earnings Presentation
Slide 15: Our ESG Journey
Our ESG Journey We are committed to be carbon neutral by 2050 .The Koç Group Carbon Transition Roadmap Sustainability Indicators 27% 49% One of the first signatories of Reduction in Scope 1 & 2 Reduction in Scope 1 & 2 GHG emissions until GHG emissions until UN Global Compact and UN WEPS 2030 vs. 2
Slide 16: Agenda
Agenda Koç Holding Key Indicators Highlights on Main Sectors Our ESG Journey Historical NAV 16 1Q22 Earnings Presentation
Slide 17: Historical NAV Discount
Historical NAV Discount Unwarranted NAV Discount Given Strong Fundamentals, Initiation of Buyback Program Relative Share Performance of Koç Holding vs. Koç Group1 Effective Ownership Adjusted Mcap Changes of the Listed Portfolio Companies Rebased at 2021YE USD Million 45% 40 17 17 9 176 90 8,417 Dis
Slide 18: Q&A
Q&A 1Q22 Earnings Presentation
Slide 19: Appendix - Consolidated Key Financial Figures
Appendix - Consolidated Key Financial Figures Consolidated Main Financial Indicators Consolidated Net Income TL Million TL Million 1Q21 1Q22 y/y + 858 + 110 + 44 6,713 Revenues 57,305 152,105 165% Gross Profit 13,784 33,275 141% + 940 Operating Profit 5,174 19,336 274% + 2,647 Profit Before Tax 3,74
Slide 20: Appendix - Unlisted Companies
Appendix - Unlisted Companies Unlisted Summary Financials TL Million Koç Holding Revenues Operating Profit1 EBITDA Book Value (SHE) Direct Share 2020 2021 2020 2021 2020 2021 2020 2021 Arçelik LG Klima 5.00% 1,385 2,105 117 126 136 146 438 528 Bilkom 69.94% 4,436 5,442 147 180 151 183 273 283 Düzey
Slide 21: Appendix - 2022 Expectations of the Listed Group Companies
Appendix - 2022 Expectations of the Listed Group Companies TÜPRAŞ 2021A 2022E - Feb'22 2022E-May'22 TOFAŞ 2021A 2022E ARÇELİK 2021A 2022E - Feb'22 2022E-May'22 Sector Sector ('000) Revenue 67% >60% >80% Med Complex ($/bbl) 1.6 2.0-3.0 Withdrawn Total TR LV Sales 737 700-750 Turkey (in TL) 47% ~35% ~
Slide 22: Appendix - Shareholding Structures
Appendix - Shareholding Structures Koç Holding Koç Family: 64.3%1 Free Float: 26.4% Vehbi Koç Foundation: 7.3% Koç Pension Fund: 2% Share Buyback: 0.04% Consumer Energy Automotive Finance Other Durables Tüpraş Ford Otosan Arçelik Yapı Kredi Bank Tat Gıda EYAŞ: 51% KH: 39% KH: 41% KH: 9.02%5 KH: 44%
Slide 23: Contact Koç Holding Investor Relations
Contact Koç Holding Investor Relations investorrelations@koc.com.tr www.koc.com.tr Nursel Ilgen, CFA, Coordinator Investor Relations nurseli@koc.com.tr +90 216 531 0414 Sinem Baykalöz, Manager Investor Relations sinemb@koc.com.tr +90 216 531 0533 23 1Q22 Earnings Presentation
Slide 24: Disclaimer
Disclaimer This presentation does contain forward-looking statements that reflect the Company management’s current views with respect to certain future events based on the base-case assumptions. Although it is believed that the expectations reflected in these statements are reasonable, they may be a