Tat Gida Sanayi A.s. · BIST:TATGD
Tat Gida Sanayi A.s — Tat Gıda — Q1 2024 Earnings Presentation
18 slides from Tat Gida Sanayi A.s's earnings presentation, May 2024
Slide 1: Tat Gıda 1Q 2024 Financial Results
Tat Gıda 1Q 2024 Financial Results May 2024
Slide 2: Disclaimer
Disclaimer With the Capital Markets Board of Turkey’s Bulletin dated 28.12.2023 numbered 2023/81, CMB announced that issuers and capital market institutions shall prepare their annual financial statements ending on 31.12.2023 or later, in accordance with IAS 29 inflationary accounting provisions. He
Slide 3: Agenda
1 Tat Gıda in Brief 2 1Q 2024 Financial Results 3 Appendix Agenda
Slide 4: Tat Gıda in Brief
1 Tat Gıda in Brief Tka ttık ar a T A atl #hay Tat’s Mission: We exist to lead the change that will deliver good and healthy food for all!
Slide 5: Competitive Advantage in Operational Processes from Farm to Fork
Competitive Advantage in Operational Processes from Farm to Fork High-Capacity, Leading Extensive Supply Chain Strong Brand Equity Production Facilities and Distribution Network and Sales Channels Ø Leader in tomato processing, with high Ø Türkiye’s globe-wide advantageous Ø Strong brand equity in d
Slide 6: Sustained Market Leader: Ranks #1 in Almost All Its Categories in Local Market
Sustained Market Leader: Ranks #1 in Almost All Its Categories in Local Market Products Tomato Tomato Pepper Ready to Ketchup Mayonnaise Pickle Products Paste Paste Serve Türkiye Market Ranking 1 1 2 1 3 1 2 Tat Gıda Türkiye Revenue Share 42.5% 15.7% 13.5% 20.2% 12.6% 19.6% 17.4% *Based on Nielsen 1
Slide 7: Change in Shareholder Structure
Change in Shareholder Structure From Koç Group To Memişoğlu Tarım Share Transfer Tat Gıda Shares Owned By Koç Group1 Koç Memişoğlu • 49.04% share of Tat Gıda Float Float Holding Tarım capital: 41.40% 41.40% 43.70% 49.04% USD80,915,335.72 dollars • 15 redeemed shares Koç Group Shared Owned By Tat Gıd
Slide 8: 1Q 2024 Financial Results
Gp 2 1Q 2024 Financial Results
Slide 9: Investments to Grow in Unsaturated Product Categories Bear Fruits
Investments to Grow in Unsaturated Product Categories Bear Fruits Tat Gıda Tomato Processing (000 tons) Production and Sales Volume (000 tons) Production Breakdown (2022 & 2023) 9% CAGR: 7.3% -3.6% 2023 10% -17% 5.3% 20% 15% 135 1 6 0 ,0 2022 543 130 9% 3 0 ,0 % 1 5 0 ,0 503 1 4 0 ,0 450 67% 1 3 0 ,
Slide 10: Continuous Growth in Export Revenues With Expansion Efforts in New Markets
Continuous Growth in Export Revenues With Expansion Efforts in New Markets USD Denominated Export Revenues Export Revenues (TL mln) and Share (%) Increase in Export Share in 1Q 2023 vs 1Q 2024 CAGR: 41.5% 2.7% 1Q 2024 41% 15.1% 11.5% 29% 5 0 , 0 % 6 5 .0 8 .9 ,8 0 ,6 0 0 5 5 5 7 .9 6 .9 5 .9 ,4 ,2 ,
Slide 11: Increasing Price Pressure and Inflation Indexation Impacted Profitability
Increasing Price Pressure and Inflation Indexation Impacted Profitability Total Revenues (TL mln) COGS (TL mln) & Gross Profit Margin (%) EBITDA (TL mln) & EBITDA Margin (%) 9.6% 12.7% n.m. 5,752 5,388 -20.9% -12.1% n.m. 6 5 .0 8 .9 ,8 0 ,6 0 0 2 0 , 0 % 5 5 5 0 .5 8 .4 7 .4 ,9 0 ,8 ,7 0 0 0 5 5 7 .
Slide 12: Major Impact on Net Loss Stemmed From Gross Profit Gap
Major Impact on Net Loss Stemmed From Gross Profit Gap Net Profit / (Loss) (TL mln) 1Q 2023 – 1Q 2024 Net Profit Evolution (TL million) 150 n.m. -208 42.3% 2 0 ,0 1 9 0 ,0 -121 150 1 8 0 ,0 1 7 0 ,0 1 6 0 ,0 1 5 0 ,0 1 4 0 ,0 1 3 0 ,0 1 2 0 ,0 1 1 0 ,0 1 0 ,0 9 0 , 0 8 0 , 0 7 0 , 0 -149 -86 6 0 , 0
Slide 13: 1Q 2024 Summary Balance Sheet Shows Financial Ratios Improving
1Q 2024 Summary Balance Sheet Shows Financial Ratios Improving BALANCE SHEET CASH – DEBT COMPOSITION (TL mln) CASH TOTAL DEBT (TL mln) December 31, 2023 March 31, 2024 FX Current Assets 5,667.2 4,861.4 35% TL 17% Non Current Assets 1,921.3 1,874.8 200.1 3,051.8 TOTAL ASSETS 7,588.5 6,736.2 Short Ter
Slide 14: New Era at Tat Gıda: Restructure, Focus, Grow
New Era at Tat Gıda 2019 - 2021 2021 - 2023 2024 …. Restructure Focus Grow Ø PASTAVILLA brand sale and halt of Ø Impact on production volume of new Ø €10 million capacity increase investments to production: tomato processing and pickle be commissioned in 2024 & 2025 • Transaction Value: TL8 million
Slide 15: Appendix Financial Indicators
3 Appendix Financial Indicators
Slide 16: Summary Balance Sheet
SUMMARY BALANCE SHEET BALANCE SHEET (TL) December 31, 2023 March 31, 2024 Cash and Cash Equivalents 106,649,572 200,088,698 Trade Receivables 1,541,002,047 1,391,109,056 Inventories 3,540,217,068 2,577,693,101 Total Current Assets 5,667,157,755 4,861,406,875 Total Non Current Assets 1,921,327,652 1,
Slide 17: Summary Income Statement
SUMMARY INCOME STATEMENT 1 January - 31 March 1 January - 31 March INCOME STATEMENT (TL) 2022 2023 % Change % Change 2023 2024 Revenue 5,248,584,498 5,751,675,366 9.6% 1,948,705,570 1,540,494,347 -20.9% Domestic sales (net) 3,410,228,149 3,863,180,562 13.3% 1,388,465,896 916,013,658 -34.0% Exports (
Slide 18: Thank You
Thank You For further questions please contact: yatirimciiliskileri@tat.com.tr Tat Gıda A.Ş. Taşdelen Mahallesi Sırrı Çelik Bulvarı No: 7 Çekmeköy - İstanbul www.tatgida.com.tr/en/ 18