Slide 1: Koç Holding 9M21 Earnings Presentation
KOÇ HOLDING 9M21 EARNINGS PRESENTATION 5 NOVEMBER 2021 9M21 Earnings Presentation
Slide 2: Agenda
Agenda Koç Holding Key Indicators Highlights on Main Sectors Historical NAV 2 9M21 Earnings Presentation
Slide 3: Agenda
Agenda Koç Holding Key Indicators Highlights on Main Sectors Historical NAV 3 9M21 Earnings Presentation
Slide 4: Focus on Sustainability and Resilience: Diversification
Focus on Sustainability and Resilience Sectoral & Geographical Diversification Net Asset Value Breakdown by Sector1 International Revenues / Total Combined Revenues Auto (PC & CV Manufacturing) 52% 38% 31% including FX linked 29% revenues of Tüpraş Auto (Other) Finance 13% 11% Refining Cash inc. 12%
Slide 5: Focus on Sustainability and Resilience: Solid Liquidity Maintained
Focus on Sustainability and Resilience Solid Liquidity Maintained Net Cash Bridge TL Million = USD 375mn = USD 397mn Net cash including Net cash including YKB AT1 as of 2020YE - 1,770 YKB AT1 + 2,812 - 288 3,508 1 + USD 1.9bn 2,754 1 + USD 1.9bn Gross cash including Gross cash including YKB AT1 as o
Slide 6: Key Metrics
Key Metrics Fundamentals Remain Intact on the Back of Prudent Management Strong Cash Position Solid Liquidity Flat FX Position USD 397mn 1.3x USD 63mn Solo Net Cash Current Ratio Solo on Combined Basis2 FX Long Position + USD 1.7bn USD 324mn Gross cash Consolidated Long FX position TL Hard Currency
Slide 7: Agenda
Agenda Koç Holding Key Indicators Highlights on Main Sectors Historical NAV 7 9M21 Earnings Presentation
Slide 8: Energy
Energy Rebound in Refining Margins and Inventory Gains Delivered a Positive Bottom-Line Domestic Market Sales Volume Crack Margins 9M21 Highlights Million Tonnes USD/bbl, Monthly Diesel Jet Fuel Gasoline y/y 15.7 Recovery in domestic demand Growth +6% +38% +19% +1.3% Inventory gains 15.9 16.8 9.5 Hi
Slide 9: Automotive
Automotive Solid Export Contracts, Favorable Product Mix and Currency Tailwinds Sales Volume Monthly Growth Trend 9M21 Highlights Thousand Units y/y Koç Total Turkey Exports Domestic market growth, despite some deceleration in 3Q21 Ma rket Share 17% 56% 22% 25% 44% Passenger Cars (Turkey) Light Comm
Slide 10: Consumer Durables
Consumer Durables Newly Acquired Operations Supported Top Line Growth Sales Volumes Across Markets1 Monthly Growth Trend 9M21 Highlights Million Units y/y " Koç Ma rket Share 20% 68% 26% 30% 41% Strong domestic and international revenues y/y +12% +6% +15% +24% +28% Turkey Exports Contribution of new
Slide 11: Finance
Finance Strong ROTE Performance Driven by Lower Net Cost of Risk and Strong Fee Income TL Lending Growth Sector’s Loans & Deposits 9M21 Highlights 13 Weeks Annualized TL, USD Billion Small ticket loan growth and increased share of demand deposits 120% Private 100% Lower CoR on the back of limited NP
Slide 12: Group's 9M21 Financial Performance
Group’s 9M21 Financial Performance Robust y/y Performance at all Segments Financial Performance TL Million Consumer Energy Automotive Finance Other TOTAL Durables Combined Revenues 1 146,276 90,847 52,305 47,601 16,332 353,361 Change (y/y) 79% 57% 62% 45% 37% 63% Segment Share in Total 41% 26% 15% 1
Slide 13: Agenda
Agenda Koç Holding Key Indicators Highlights on Main Sectors Historical NAV 13 9M21 Earnings Presentation
Slide 14: 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 2020YE USD Million 50% - 488 - 23 + 36 8,450 40% -
Slide 15: Q&A
Q&A 9M21 Earnings Presentation
Slide 16: Appendix - Consolidated Key Financial Figures
Appendix - Consolidated Key Financial Figures Consolidated Main Financial Indicators Consolidated Net Income TL Million TL Million 9M20 9M21 y/y + 253 + 1,223 Revenues 125,720 223,610 78% + 2,143 + 299 Gross Profit 30,995 47,295 53% 9,417 + 2,143 Operating Profit 11,013 24,377 121% - 3,380 Profit Be
Slide 17: Appendix - Unlisted Companies
Appendix - Unlisted Companies Unlisted Summary Financials TL Million Koç Holding Revenues Operating Profit1 EBITDA Book Value (SHE) Direct Share 1H20 1H21 1H20 1H21 1H20 1H21 1H20 1H21 Arçelik LG Klima 5.00% 749 1,302 71 103 81 114 398 522 Bilkom 69.94% 1,688 2,598 61 79 63 81 211 219 Düzey 31.23% 1
Slide 18: Appendix - Focus on Sustainability and Resilience
Appendix - Focus on Sustainability and Resilience Business Model Ensures Sustainability of Dividend Income Dividend Income Dividend Payout2 TL Million TL Million 1 3,324 2019 2020 Nov'21 1 y/y Adjusted Dividend Payout3 Tüpraş (via EYAŞ) 1,489 - - n.m. 511 Dividend 2,548 Ford Otosan 494 421 1,382 228
Slide 19: Appendix - Production Suspensions at Listed Koç Group Companies
Appendix - Production Suspensions at Listed Koç Group Companies 2020 2021 Company Duration Reason Company Duration Reason Disruptions in trade and Eskişehir plant: between 23 March to 27 April Kocaeli plants: between 3 April to 9 April Ford Otosan problems in the supply Global disruption in Kocaeli
Slide 20: Appendix - 2021 Expectations of the Listed Group Companies
Appendix - 2021 Expectations of the Listed Group Companies Initial 2021E 1 st Revision 2 nd Revision Initial 2021E 1 st Revision 2 nd Revision TÜPRAŞ 2020A (Feb-21) TÜRKTRAKTÖR 2020A (Aug-21) (Nov-21) (Feb-21) (May-21) (Oct-21) Sector Sector ('000) Med Complex ($/bbl) -0.1 0.0-0.5 0.0-0.5 1.5-2.0 To
Slide 21: 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: 0.02% Consumer Energy Automotive Finance Other Durables Tüpraş Ford Otosan Arçelik Yapı Kredi Bank Tat Gıda EYAŞ: 51% KH: 39% KH: 41% KH: 9.02% KH: 44% F
Slide 22: 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 Neslihan Aycıl, Manager Investor Relations neslihana@koc.com.tr +90 216 531 0516 Sinem Baykalöz, Manager Investor Relations sinemb@
Slide 23: 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