Turkiye Sise Ve Cam Fabrikalari A.s. · BIST:SISE

Turkiye Sise Ve Cam Fabrikalari A.s — Şişecam — Q1 2026 Earnings Presentation

36 slides from Turkiye Sise Ve Cam Fabrikalari A.s's earnings presentation, May 2026

  1. Slide 1: Investor Presentation Q1'26

    Investor Presentation Q1'26

  2. Slide 2: Content

    Q1'26 Key Financial Results 4-5 Content Q1'26 Segmental Results 6-8 Q1'26 Regional Results 9 Q1'26 & Historical Operational Results 10-13 Liquidity & Capital Allocation 14-17 Sustainability - CareforNext 2022-2030 Vision 18-19 Şişecam at a Glance & Risk Management Policies 20-21 Appendix 22

  3. Slide 3: Important Notice on Inflation Accounting (IAS 29)

    Important Notice on Inflation Accounting (IAS 29) Türkiye has economic conditions that require reporting entities in the country to follow the Pursuant to the Capital Markets Board Decision dated 28.12.2023 and numbered 81/1820, methodology set out in International Accounting Standards (‘IAS’) - 29

  4. Slide 4: Q1'26 Key Financial Results

    Q1'26 Key Financial Results TRY Mn Revenue Gross Profit EBITDA Parent Only Net Income -3% 28% 24% 9% 4% 3% 3% 59,497 57,478 14,088 15,936 5,116 2,049 1,641 1,884 Q1'25 Q1'26 Q1'25 Q1'26 Q1'25 Q1'26 Q1'25 Q1'26 Q1 Margin Q1 YoY Change Q1 Margin Q1 Margin 4

  5. Slide 5: IAS29 Impact on EBITDA

    IAS29 Impact on EBITDA TRY Mn Adjusted EBITDA* Bridge 12% 4% 7,036 316 1,248 648 2,049 3,287 -511 EBITDA Renevue COGS Operating Expense Net, Other Operating Net, Investment Adjusted EBITDA Income/Expense Income/Expense Historical Adjusted EBITDA 18% 12% 10,713 7,036 Q1’25 Q1’26 ----- Margin 5 *EBITD

  6. Slide 6: Q1'26 Segmental Revenue and EBITDA Margin

    Q1'26 Segmental Revenue and EBITDA Margin TRY Mn Architectural Glass Industrial Glass 16% 11% 21% -19% +5% +3% 14,207 14,914 7,388 7,586 -2% +7% -7% +10% Q1’25 Volume Pricing, Product Mix Q1’26 Q1’25 Volume Pricing, Product Mix Q1’26 Effect Curr. Effect Effect Curr. Effect Glassware 7% -9% -14% 7,35

  7. Slide 7: Q1'26 Segmental Revenue and EBITDA Margin

    Q1'26 Segmental Revenue and EBITDA Margin TRY Mn Glass Packaging Chemicals 16% 15% 12% 4% +5% -15% 11,943 12,505 14,585 12,420 -3% +8% -2% -13% Q1’25 Volume Pricing, Product Mix Q1’26 Q1’25 Volume Pricing, Product Mix Q1’26 Effect Curr. Effect Effect Curr. Effect -----EBITDA Margin 7 All revenue fig

  8. Slide 8: Q1'26 Segmental Revenue and EBITDA

    Q1'26 Segmental Revenue and EBITDA TRY Mn Diversified Revenue Mix Revenue Bridge Energy Other 59,497 5% 2% 57,478 Architectural Glass 707 198 -1,064 562 -2,165 -86 -171 26% Chemicals 21% Industrial Glass 13% 22% Glass Packaging 11% Q1’25 Architectural Industrial Glassware Glass Chemicals Energy Othe

  9. Slide 9: Q1'26 Regional Results

    Q1'26 Regional Results Geographic Revenue Mix Regional Breakdown of Exports from Türkiye Russia, Ukraine Other Other and Georgia North Africa 2% 11% Asia 10% 1% US South America 5% 10% Sales in Türkiye 3% 39% North America 9% Europe 62% 21% 10% Europe Middle East 17% Exports from Türkiye Top 10 Expo

  10. Slide 10: Q1'26 Operational Results

    Q1'26 Operational Results K tons Glass Production Soda Ash Production Chromium Chemicals Sales 1,325 1,350 1,118 1,101 25 24 40% 39% 68% 69% 87% 89% 60% 61% 32% 31% 13% 11% Q1'25 Q1'26 Q1'25 Q1'26 Q1'25 Q1'26 Domestic International Domestic International Domestic International* 10 * International: S

  11. Slide 11: Historical Production & Sales Results - Glass

    Historical Production & Sales Results - Glass K tons Regional Glass Production Segmental Glass Production 16% 5.619 5.781 5.634 5.614 3% 8% 2% 5.227 -10% 0% 0% 1% 1% 1% 1% 5.619 5.781 5.634 5.614 1% 5.227 41% 42% 44% 45% 42% 40% 40% 44% 45% 41% 6% 6% 6% 4% 6% 1.325 1.350 55% 58% 59% 60% 60% 1.325 1.

  12. Slide 12: Historical Production & Sales Results - Chemicals

    Historical Production & Sales Results - Chemicals K tons Soda Ash Production Soda Ash Sales** 28 0% 17 0% 28 0% 17 0% 108% 12 0% 12 0% 99% 23 0% 23 0% 70 % 70 % 18 0% 18 0% 8% 10% 20 % 20 % 13 0% -4% -2% -5% -6% -2% 13 0% 0% -2% -5% -1% -2% -30% -30% 37% 69% 67% 67% 68% 80 % 69% 80 % 70% -80% 73% 88

  13. Slide 13: Installed Gross Capacities

    Installed Gross Capacities Flat Glass Glassware Glass Packaging Soda Ash* 6% 10% 6% 5% 3% 9% 30% 14% 5.1 Mn 524 K 3.5 Mn 5 Mn 10% 50% tons/year tons/year 36% tons/year 55% tons/year 14% 62% 5% 65% 12% 8% Türkiye Russia Bulgaria Italy India Egypt Georgia Hungary Bosnia USA Other Product Range reporte

  14. Slide 14: Debt Position

    Debt Position Net Debt Bridge (TRY Mn) Net Debt USD 2.8 Bn 132,833 -1,302 123,599 -466 Net Debt/Adj. EBITDA 2.8x -7,465 Net Debt/EBITDA 5.3x 2025 Borrowings Cash &Cash Equ. Marketable Sec* Q1'26 Fixed Interest Rate 66% Term Structure of Gross Debt* (TRY Mn) Variable Interest Rate 34% 170,715 Other T

  15. Slide 15: Gross Debt & Liquidity Results

    Gross Debt & Liquidity Results TRY Mn 170,715 2025 Q1'26 Net Debt/Adjusted EBITDA** 2.76 2.78 123,599 Net Debt/ EBITDA** 5.03 5.30 Net Debt/Equity** 0.45 0.43 4,675 42,441 Credit Ratings Q1'26 Cash & Cash Marketable Net Debt Moody’s B2 Negative Equ. Sec.* Fitch Ratings B Negative (*) Marketable secu

  16. Slide 16: FX Position

    FX Position Q1'26: Net Long FX Position: TRY 21 Billion 2025 Q1'26 16,721 1,765 576 425 -189 -291 USD EUR Other Currencies Corresponding TRY 16

  17. Slide 17: FCF & Capex Analysis

    FCF & Capex Analysis TRY Mn Q1'25 Q1'26 Change Net Profit 1,738 1,447 -292 CAPEX Breakdown (Q1'26) Non Cash Items 10,982 4,897 -6,085 Changes in Working Capital -7,955 -3,297 4,657 Cashflow from operations 4,766 3,046 -1,720 Other Interest received,net -4,627 -1,596 3,030 Dividend paid,net -139 161

  18. Slide 18: Sustainability

    Care for N@xt Sustainability So © PROTECT EMPOWER Bea NSF por mM THE PLANET SOCIETY

  19. Slide 19: Sustainability Initiatives & Projects

    Sustainability Initiatives & Projects Risk and Opportunity Analysis Workshops Water Policy Within the scope of the Turkish Sustainability Reporting Standards We have completed our Water Policy, which aims to manage water-related (TSRS), we organized workshops with the participation of our internal r

  20. Slide 20: Şişecam at a Glance

    1st 1st Corporate History Export Countries 90 years 150+ World leader in basic World leader ŞİŞECAM chromium sulphate in glassware FREE FLOAT Actively Producing in Actively Producing at 45% 2% 12 countries 43 plants Employees Market Cap.* Only global player in 22,000+ $3.5 Billion all key areas of g

  21. Slide 21: Risk Management Policies

    Risk Management Policies Leverage Leverage with conservative Net Debt/EBITDA levels Liquidity Maintain sufficient liquidity to meet short-term funding and to finance equity portion of Capex FX Position FX position limited to -10% to 20% of shareholder’s equity Not only a diversified relationship ban

  22. Slide 22: Appendix

    Operating Structure Appendix Production Facilities FX Exposure COGS Analysis Summary Balance Sheet Summary Income Statement Key Financials w/o IAS 29 Historical Financials w/o IAS 29

  23. Slide 23: Şişecam Operating Structure

    Şişecam Operating Structure Production Joint Ventures Joint Ventures ŞİŞECAM ARCHITECTURAL GLASS INDUSTRIAL GLASS GLASSWARE GLASS PACKAGING CHEMICALS ENERGY OTHER Şişecam Flat Şişecam Şişecam Paşabahçe Şişecam Şişecam Şişecam TRSG Glass Paşabahçe Şişecam Camiş Oxyvit Glass India Otomotiv Elyaf Sanay

  24. Slide 24: Şişecam Operating Production Facilities – Q1'26

    Şişecam Operating Production Facilities – Q1'26 FLAT GLASS & INDUSTRIAL GLASS CHEMICALS GLASS ARCHITECTURAL GLASSWARE ENERGY OTHER* AUTO ENCAPSU- PACKAGING SODA CHROMIUM GLASS GLASS FIBER GLASS LATION ASH CHEMICALS TÜRKİYE 5 PLANTS 1 PLANT 1 PLANT 2 PLANTS 3 PLANTS 1 PLANT 1 PLANT 1 PLANT (3) 2 PLAN

  25. Slide 25: FX Exposure

    FX Exposure Consolidated Şişecam FX Exposure – Q1'26 Revenue 19% 28% 39% 9% 5% COGS 15% 28% 45% 8% 4% USD EUR TRY RUB Other Consolidated Şişecam FX Exposure – Q1’25 Revenue 21% 29% 35% 11% 4% COGS 15% 30% 41% 9% 5% USD EUR TRY RUB Other 25

  26. Slide 26: FX Exposure – Q1'26

    FX Exposure – Q1'26 Architectural Glass Industrial Glass Revenue 6% 28% 56% 4%6% Revenue 6% 57% 32% 5% COGS 3% 36% 49% 5% 7% COGS 1% 63% 30% 6% USD EUR TRY RUB Other USD EUR TRY Other Glassware Revenue 5% 31% 50% 6% 8% COGS 3% 26% 60% 6%5% USD EUR TRY RUB Other 26

  27. Slide 27: FX Exposure – Q1'26

    FX Exposure – Q1'26 Glass Packaging Chemicals Revenue 4% 13% 43% 35% 5% Revenue 70% 30% COGS 11% 4% 50% 31% 4% COGS 56% 28% 16% USD EUR TRY RUB Other USD EUR TRY 27

  28. Slide 28: COGS Analysis

    COGS Analysis Şişecam Consolidated COGS Breakdown Outsourcing Outsourcing & Other Input & Materials & Other & Packaging 15% 14% Depreciation Depreciation 6% 6% 37% Input & Materials 40% & Packaging Q1’25 Q1'26 19% 20% Labor Labor 5% 7% 15% 16% Electricity Electricity Ngas Ngas 28

  29. Slide 29: Segmental COGS Analysis – Q1'26

    Segmental COGS Analysis – Q1'26 Segmental COGS Breakdown Architectural Glass 46% 27% 6% 12% 4% 5% Industrial Glass 41% 3% 5% 30% 2% 19% Glassware 30% 13% 6% 38% 5% 8% Glass Packaging 45% 14% 7% 21% 6% 7% Chemicals 34% 19% 11% 17% 12% 7% Input & Materials & Packaging Ngas Electricity Labor Depreciati

  30. Slide 30: Natural Gas Prices – Q1'26 & Historical

    Natural Gas Prices – Q1'26 & Historical Türkiye Ngas Expense % in total COGS 15% 14% 11% 11% 7% 2% Architectural Industrial Glassware Glass Chemicals Şişecam Glass Glass Packaging Türkiye Ngas Expense % in total COGS - ŞİŞECAM 18% 12% 13% 10% 11% 11% 9% 2021 2022 2023 2024 2025 Q1'25 Q1'26 30

  31. Slide 31: Summary Balance Sheet

    Summary Balance Sheet TRY Mn 2025 Q1'26 Change Total Assets 557,829 538,355 -3% Important Notice Cash & Cash Equivalents 41,975 42,441 1% Pursuant to the Capital Markets Board Decision Financial Assets & Derivatives 6,620 7,233 9% dated 28.12.2023 and numbered 81/1820, issuers Trade Receivables 43,9

  32. Slide 32: Summary Income Statement

    Summary Income Statement TRY Mn Q1'25 Q1'26 Change Important Notice Revenue 59,497 57,478 -3% Cost of Goods Sold -45,408 -41,542 9% Pursuant to the Capital Markets Board Decision Gross Profit 14,088 15,936 13% dated 28.12.2023 and numbered 81/1820, issuers General and administrative -5,514 -6,059 -1

  33. Slide 33: Key Financials w/o IAS29

    Key Financials w/o IAS29 TRY Mn Revenue EBITDA Profit Before Tax Net Income for the Period* 17% 27% 10% 1% -2% 3% 0% 56,794 44,606 7,364 5,484 1,471 809 139 Q1'25 Q1'26 -787 Q1'25 Q1'26 Q1'25 Q1'26 Q1'25 Q1'26 Q1 Q1 Q1 Q1 Total Assets Total Equity* Q1'26 467,940 Q1'26 227,683 3% 2% 2025 453,751 2025

  34. Slide 34: Historical Financial Results (w/o IAS29)

    Historical Financial Results (w/o IAS29) TRY Mn 36% 212,017 30% 26% 172,140 133,580 95,349 18% 17% 15% 56,794 37,203 44,606 10% 32,058 28,160 35,264 25,706 11,603 7,364 5,484 2021 2022 2023 2024 2025 Q1'25 Q1'26 Revenue EBITDA EBITDA Margin 2021 2022 2023 2024 2025 Q1’25 Q1'26 Revenue Change Y-o-Y 5

  35. Slide 35: Disclaimer

    Disclaimer This information in this document has been obtained by T. Şişe ve Cam Fabrikaları A.Ş. (“Şişecam” from sources believed to be reliable, however, Şişecam cannot guarantee the accuracy, completeness, or correctness of such information. This document has been issued for information purposes

  36. Slide 36: Şişecam Investor Relations Contact Details

    Şişecam Investor Relations Contact Details SC_IR@sisecam.com (+90) 850 206 34 34 Hande Özbörçek IR Director hozborcek@sisecam.com Ferizan Kızıl IR Manager fkizil@sisecam.com

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