Akcansa Cimento Sanayi Ve Ticaret A.s. · BIST:AKCNS
Akcansa Cimento Sanayi Ve Ticaret A.s — Q1 2024 Earnings Presentation
16 slides from Akcansa Cimento Sanayi Ve Ticaret A.s's earnings presentation, Jun 3, 2024
Slide 1: 2024 Q1 Results
2024 Q1 Results June 3rd, 2024 Jason South, CFO
Slide 2: Key messages for 2024 Q1
Key messages for 2024 Q1 ▪ Unless indicated otherwise, figures shown in this presentation have been adjusted for hyper-inflation accounting. For discussion purposes, nominal figures are shown in some cases ▪ Good performance in Q1 nominal result despite inflation outpaced pricing. Effect of inflatio
Slide 3: Total cement demand in Turkey increased by 35% in Feb'24 vs '23
Total cement demand in Turkey increased by 35% in Feb’24 vs ’23 with 10.0 mio t 26% 13% 139% 30% 8% 113% 60% Akcansa Cement Factories Akcansa’s core market Marmara Region represents 24% of total domestic market. Source: TCMA and company estimations 3
Slide 4: Flexible distribution network key as market demand shifts
Flexible distribution network key as market demand shifts Turkish Cement Market (kTon) 35% Akcansa Revenue Distribution 2023 2024 10,079 2023 Q1 2024 Q1 Dom. Cement (2024 2M) 13% 60% 30% 7,459 17% 20% 8% 26% +113% 139% 2,193 2,469 2,209 1,704 1,049 1,137 1,382 845 1,067 1,315 993 210 501 465 Marmara
Slide 5: Company Performance
Company Performance 5
Slide 6: Solid demand in domestic market vs prior year drove higher sales volume
Solid demand in domestic market vs prior year drove higher sales volume Quarterly Volume (mt/mm3) Quarterly Sales (mTRY) +37.9% -3.2% Inflation Accounting Effect +12.2% -6.5% 4,336 4,339 4,196 143 1,876 1,755 1,564 3,042 +3.4% -3.9% 712 766 736 1Q23 4Q23 1Q24 1Q24 CEM (mt) RMC (mm3) Nominal Nominal
Slide 7: Price increases lower than year-over-year inflation drove lower margin
Price increases lower than year-over-year inflation drove lower margin Quarterly EBITDA (mTRY) -9.5% -16.0% 696 Inflation Accounting Effect 646 585 -115 470 21% 16% 14% 11% 1Q23 4Q23 1Q24 1Q24 Nominal Nominal Nominal Indexed 7
Slide 8: Improvements on nominal net income eliminated by impact of inflation accounting
Improvements on nominal net income eliminated by impact of inflation accounting Quarterly Net Income (mTRY) Deferred Tax Income +257 -369 +5.2% -35.5% 291 1,096 34 672 707 -78 Inflation Accounting Effect 1Q23 1Q24 1Q24 Nominal Nominal Indexed -705 Depreciation 22% 25% 17% 2 -182 1Q23 4Q23 1Q24 1Q24
Slide 9: Cash position leveraged to mitigate margin decline by prepaying certain costs
Cash position leveraged to mitigate margin decline by prepaying certain costs -721 470 -425 -243 -301 269 -21 -252 EBITDA Prepaid Working Cash in fr CAPEX Other Free Expenses Capital Investing Cash Flow 9
Slide 10: Continuous ESG focus resulted in higher ranking in Refinitiv, #1 globally
Continuous ESG focus resulted in higher ranking in Refinitiv, #1 globally 2024 Score -10% 770 753 753 35% 724 701 694 87 649 +11 ppts 25% 23% 1st of 120 in global ranking 22% 19% 18% 14% 2023 2023 2022 A- B A- 2019 2020 2021 2022 2023 2024 Q1 2030 2019 2020 2021 2022 2023 2024 Q1 2030 Climate Water
Slide 11: Q&A
Q&A Heidelberg O Materials O@eanc!
Slide 12: Follow Us
Follow Us /AKCANSA /COMPANY/AKCANSA /AKCANSA /AKCANSA 12
Slide 13: Disclaimer
Disclaimer This presentation («Presentation») has been prepared by Akçansa Çimento Sanayi ve Ticaret A.Ş. for the sole purpose of providing information («Information») relating to Akçansa. Presentation is based on public information and data produced by Akçansa and basically demonstrates forward loo
Slide 14: Contact Information
Contact Information Jason South CFO Dinçer Bulan Financial Planning, Analysis & IR Group Manager Ahmet Yılmaz Financial Planning, Analysis & IR Manager Hilal Yıldız Çelik Corporate Governance Executive investor.relations@akcansa.com.tr 14
Slide 15: Heidelberg Materials
Heidelberg Materials Heidelberg CO eet? odeanc:
Slide 16: Financials - Summary
Financials - Summary Nominal (w/o Inflation Effect) Indexed (w/Inflation Effect) +37.9% -17.5% 4,196 5,259 3,042 4,339 Sales 1Q23 Nominal 1Q24 Nominal 1Q23 Indexed 1Q24 Indexed -9.5% -49.9% 646 938 585 470 EBITDA 21% 14% 18% 11% 1Q23 Nominal 1Q24 Nominal 1Q23 Indexed 1Q24 Indexed +5.2% -99.8% 672 70
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