Haci Omer Sabanci Holding A.s. · BIST:SAHOL
Haci Omer Sabanci Holding A.s — Hacı Ömer Sabancı Holding A.Ş. — FY2024 Earnings Presentation
25 slides from Haci Omer Sabanci Holding A.s's earnings presentation, Mar 4, 2025
Slide 1: Earnings Presentation 2024 YE
Earnings Presentation 2024 YE Most Honored Company in Emerging EMEA Industrials Extel March 4, 2025 2024
Slide 2: Disclaimer
Disclaimer The information and opinions contained in this document have been compiled by Hacı Ömer Sabancı Holding A.Ş. (“Holding”) from sources believed to be reliable and in good faith, but no representation or warranty, expressed or implied, is made as to their accuracy, completeness or correctne
Slide 3: Successful Strategy Execution
Successful Strategy Execution Solid performance on B2B dominated portfolio | 2024 ๏ Acquisition of Mannok, integrated building materials manufacturer in Ireland ๏ Topline growth in real terms: 6% YoY ๏ New CAC production line, positioning Çimsa as 3rd largest globally ๏ EBITDA Margin(2): 11.5% in 20
Slide 4: Transforming Our Portfolio To Enable Decarbonization & Recognized on a Global Scale
Transforming Our Portfolio To Enable Decarbonization & Recognized on a Global Scale Ambitious Sustainability Targets 42% 10% 15% Achieving Reduction target in Reduction target in Reduction target in Circular inflow(4), outflow(5) Scope 1&2 emissions(1) freshwater withdrawal(2)(3) water consumption(2
Slide 5: Combined Financials 2024 & Q4 Results
Combined Financials 2024 & Q4 Results 01 /03
Slide 6: A Transition Period in Türkiye's Economy
A Transition Period in Türkiye’s Economy Bloomberg Commodity & Energy Index (YoY Change) Minimum Wage (Gross, average, TL) Minimum wage, gross, average YoY Increase Bloomberg Commodity Index Bloomberg Energy Index 30000 130% 104% 110% 25000 67% 26,006 90% 71% 20000 60% 70% 33% 33% 20,003 28% 50% 150
Slide 7: Solid operating performance tempered by monetary losses at the bottom line
Solid operating performance tempered by monetary losses at the bottom line... Combined Revenue (TL bn)(1) Combined EBITDA (TL bn) Consolidated Net Income/Loss (TL bn) 11.5% 10.6% 6% 1,243.5 29% 208 -44% 1,172.6 170 511.1 661.7 231.2 22.3 139 2.3 151.6 -61% 113 111.7 20.0 161.3 129.0 90.0 -12% 81.5 6
Slide 8: Reaching strongest operating profitability in Q4
...reaching strongest operating profitability in Q4… Combined Revenue (TL bn)(1) Combined EBITDA (TL bn) Consolidated Net Income/Loss (TL bn) 12.6% 9% 6.9% 330.4 -39% 22% 304.1 178.8 50.6 146.8 -70% TL336mn 19.4 non-bank net income exc. impairment -4% 30.8 7.7 39.7 11.7 76% 11.7 157.3 151.7 -0.7 19.
Slide 9: Progression in non-bank EBITDA margins across the quarters
...with a progression in non-bank EBITDA margins across the quarters Combined Non-bank EBITDA Margin Non-bank Net Income/Loss (TL mn) 13% 12% 920 470 17 310 -451 -903 -993 10% 10% -1,487 -683 -2,133 -1,017 -2,584 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Monetary Loss (Holding
Slide 10: Better OCF in H2 in a challenging year
Better OCF in H2 in a challenging Return on Equity year led by improved operational Bank Non-Bank Consolidated performance 7.0% Operational Cash Flow, Combined & Non-bank (TL bn)(1) -5.1% 11.2% 1.7% 73 -2.3% 58 41 -9.7% 10 H1 2023 2023 Column1 H1 2024 2024 2023 Bank 2023 2023 Non-bank 2024 Bank 2024
Slide 11: Healthy Balance Sheet to Finance Growth
Healty Balance Sheet Non-Bank Capex/Sales to Finance Growth 13.5% Combined Net Financial Debt to Holding Only - Net cash Non-Bank EBITDA(1) (TL bn) 11.4% Policy: ≤ 2x 12.4 1.4x 7.0 0.7x 2023 2024 2023 2024 2023 2024 (1) Excludes Banking and net cash position of financial services 11
Slide 12: Attractive discount prevails
Attractive discount prevails NAV (USDbn) & NAV Discount(1) February 2025 Material Technologies Energy & Climate 10.6 & Mobility Solutions 10.2 Technologies 52.1% 18% 32% 8.8 46.0% USD10bn 45.5% (excluding Cash) Digital Technologies 2% Other 5% Dec 2023 Dec 2024 Feb 2025 Banking & Financial Services
Slide 13: Segment Financials
Segment Financials 02 /03
Slide 14: Bank / Successful organic growth strategy
Bank / Successful organic growth strategy Current Assessment partially mitigated regulatory induced net ๏ Robust solvency with 17.8% CAR(2) ; 15.1% Tier-1(2) creates interest margin pressure and high inflation substantial competitive advantage for profitable growth ๏ +72% increase in net active cust
Slide 15: Energy / Distribution & Retail driven EBITDA improvement
Energy / Distribution & Retail driven EBITDA Current Assessment improvement offset by higher financial expenses ๏ Distribution & Retail & Customer Solutions : Efficient OPEX management, yet higher financing Energy Segment Summary Financials(1) cost & deferred tax asset impact MILLION TL Q4 2023 Q4 2
Slide 16: Material Technologies / Volumes resilient, profitability hit
Material Technologies / Volumes stood resilient, Current Assessment profitability hit by one-offs & market pressures ๏ Resilient volumes despite global price competition and unfavorable sales mix ๏ Declining profitability due to inflation & depreciation imbalance ๏ Negative deferred tax impact from
Slide 17: Mobility Solutions / EBITDA margin expansion in tire business
Mobility Solutions / Visible EBITDA margin Current Assessment expansion in tire business, bottom line lower on ๏ Inflationary impact on margins offset by strategic cost management & operational discipline higher financing & tax expenses ๏ Net income was under pressure of higher financing costs, lowe
Slide 18: Financial Services / Strong reversal in Q4 bottom line
Financial Services / Strong reversal in Q4 bottom Current Assessment line mainly led by life ๏ AUM growth is maintained together with almost in-line premium generation Financial Services Segment Summary Financials(1) ๏ Life: Leadership in both Pension AuM and Life & PA premium production MILLION TL
Slide 19: Digital / Solid recovery in Teknosa's EBITDA
Digital / Solid recovery in Teknosa’s Current Assessment EBITDA on effective cost management ๏ YoY topline growth exceed the panel market growth ๏ Enhancement in operating profit margin driven by positive pressured by financial expenses effects of fact-based negotiations & efficient cost management
Slide 20: Retail / Higher financial expenses pressure bottom line
Retail / Higher financial expenses continued to pressure bottom line Current Assessment ๏ Improvement in alternative channels ๏ Disciplined cost management Retail Segment Summary Financials(1) ๏ Higher financing expenses pressured bottom line MILLION TL Q4 2023 Q4 2024 Change 2023 2024 Change Factor
Slide 21: Appendix
Appendix 03 /03
Slide 22: Dividend Performance
Dividend Performance TLmn 2021 2022 2023 2024 2025 Akbank 255 494 3,666 4,063 2,589(2) Akçansa 42 36 99 457 477(2) Aksigorta 110 - - - - Agesa 64 - 60 120 400(2) Brisa 107 270 479 452 283(2) Carrefoursa - - - - - Çimsa - 109 218 545 327(2) Kordsa - 114 41 - - Teknosa - - - - - Enerjisa Enerji 454 58
Slide 23: Financials in detail
Financials in detail Combined Revenue(1) Combined EBITDA Consolidated Net Income/Loss MILLION TL Q4 2023 Q4 2024 Change 2023 2024 Change Q4 2023 Q4 2024 Change 2023 2024 Change Q4 2023 Q4 2024 Change 2023 2024 Change TOTAL 304,055 330,435 9% 1,172,562 1,243,519 6% 50,590 30,797 -39% 231,166 128,974
Slide 24: Sabancı Holding NAV After Independent Valuation Reports
Sabancı Holding NAV After Independent Valuation Reports USDmn February 2025 December 2024 Companies Free Float Direct Stake Valuation Method Mcap Value to Sabancı Holding % of NAV Value to Sabancı Holding % of NAV Akbank 53% 41% Market value 9,619 3,920 38.3% 3,895 36.8% Enerjisa Enerji 20% 40% Mark
Slide 25: Investor Relations
Meet SirA, Sabancı Holding's digital Capital Markets Investor Presentation - ir.sabanci.com investor relations assistant ! Day 2024 Group Strategy Türkiye’s First Investor Relations Dedicated Assistant ! SBU Presentation – Energy & Earnings 2023 Annual Climate Technologies Presentation Report Kerem
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