Klimasan Klima Sanayi Ve Ticaret A.s. · BIST:KLMSN
Klimasan Klima Sanayi Ve Ticaret A.s — FY2021 Earnings Presentation
25 slides from Klimasan Klima Sanayi Ve Ticaret A.s's earnings presentation, August 2023
Slide 1: FY2021 Results Presentation
FY2021 Results Presentation
Slide 2: Legal Notice
Legal Notice In this presentation we make statements about future events (forward-looking statements) that are subject to risks and uncertainties. These statements are based on beliefs and suppositions of our Management and information to which the company currently has access. Statements about futu
Slide 3: Klimasan
Klimasan A global brand in the Leading regional brand One of Europe’s most Top brand in Europe in The leader in Turkish commercial refrigeration in Europe, Central Asia renowned commercial the area of commercial commercial refrigeration industry and the Middle East ice-cream freezers and freezers ma
Slide 4: Performance Trend
Performance Trend Domestic Sales (TLmn) Export Sales (TLmn) Total Sales (TLmn) 38% CAGR 44% CAGR 42% CAGR 795 1.735 532 466 1035 978 426 717 218 427 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 18,0% Adjusted EBITDA (TLmn) 300 26,0% Gross Profitability (TLmn) 400 12,0%Net Profit (TLmn) 10,9% 12
Slide 5: FY 2021 Highlights
FY 2021 Highlights NET REVENUE GROSS MARGIN EBITDA MARGIN* up by 77% 21.5% 15.0% • Higher number of units sold • Higher raw material costs • Increase in freight rates • Higher share of more value-added products • Escalating energy prices • Lower SG&A expenses/sales • Contribution of sales in hard cu
Slide 6: FY 2021 Highlights
FY 2021 Highlights 28% increase in the number of units sold in 2021 • Strong demand both in Domestic and Export markets • Contribution of non-key accounts Net Revenue Contribution (TL mn) 154 34% revenue growth, on a hard currency basis* 786 • Price adjustments to reflect escalating costs • Favourab
Slide 7: Sales and Operational Highlights
Sales and Operational Highlights Total Sales (TLmn)* • Sales operations to 90+ countries and 285+ customers 1.623 • 5 different geographies with different technical requirements • Large service network 1.023 51% 895 • Product portfolio of 110+ models 417 48% 48% 411 41% 49% Sales by geography 47% 52
Slide 8: Sales and Operational Highlights
Sales and Operational Highlights Domestic Sales • Continued recovery in immediate consumption channels • Increasing share of value-added products • High contribution of non-key accounts vs pre-covid sales mix Export Sales • Double-digit sales volume growth in key export markets • 20% increase in sal
Slide 9: Covid-19 Impact
Covid-19 Impact ▪ Early and decisive action steps minimized the Covid effect on our employees and suppliers ▪ Number of units produced exceeded pre-Covid levels in 2021 ▪ Our diversified business model minimized the impact of localized and sector-specific disruptions caused by the pandemic ▪ Immedia
Slide 10: FY2021 P&L
FY2021 P&L • Net revenue increased by 77% to TL 1.735mn in 2021 (TL mn) 2017 2018 2019 2020 2021 y/y change 2021/2020 driven by strong performance both in domestic and Net Revenues 427 717 1.035 978 1.735 77,4% export markets, in addition to sales to new customers and currency conversion impact. Gro
Slide 11: 4Q21 Highlights
4Q21 Highlights NET REVENUE GROSS MARGIN EBITDA MARGIN* up by 143% 30.7% 24.4% • Strong demand both in key markets • Solid revenue growth to • Lower SG&A expenses/sales compensate for higher raw • Key accounts partially resume placement material costs and increasing • Foreign currency gains from ope
Slide 12: 4Q21 P&L
4Q21 P&L • Net revenue more than doubled to TL 564mn in 4Q21, boosted (TL mn) 4Q20 4Q21 y/y change by the currency conversion impact and the continued recovery in Net Revenues 232 564 142,9% the market. Gross Profit 55 173 215,6% • Gross margin increased to 30.7% as solid topline growth offset the a
Slide 13: Balance Sheet
Balance Sheet (TL mn) YE2017 YE2018 YE2019 YE2020 YE2021 Cash and cash equivalents 303 439 351 467 924 Trade Receivables 76 163 263 233 711 Inventories 103 124 116 187 393 Fixed Assets 85 118 182 192 468 Other 78 37 284 401 724 Total Assets 645 881 1.196 1.480 3.220 Short-term Financial Loans 79 184
Slide 14: Liquidity&Debt
Liquidity&Debt Liquidity Indicators (TL mn) FY20 FY21 YoY% Change Cash and equivalents 244 579 138% Financial Investments 224 345 54% Short term debt (ST) 315 1.079 243% Long term debt (LT) 534 833 56% Euro denominated debt 819 1.891 131% TRY denominated debt 20 - n.m. Gross debt 849 1.912 125% Net
Slide 15: Liquidity&Debt
Liquidity&Debt Net Debt/EBITDA (TL mn) Net Debt/EBITDA (EUR mn) 3,8 2,4 2,6 1,9 2,1 2,2 1,0 0,8 0,1 0,3 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 15
Slide 16: Free cash flow generation
Free cash flow generation CapEx/Sales Net Working Capital/Sales * Free Cash Flow/Sales 7,0% 7,0% 32% 10% 20% 6% 3,9% 17% 17% 4% 3,1% 2,9% 10% 2017 2018 2019 2020 2021 -9% 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 -18% * Although payment terms to suppliers and customers and the average stock
Slide 17: Sustainability agenda
Sustainability agenda ▪ Energy consumption reduction of 50% by 2030 (vs. 2020) ▪ Life extend program - Refurbishing products to extend the useful life and upgrade to more efficient components at our new refurbishment facility in Manisa SDG 13: Supporting the Setting ▪ Recyclability of parts/componen
Slide 18: Strategic Position
Strategic Position Growth Supported Strong Customer Footprint Innovative Products & Positive Operational by Megatrends Base Services Performance Global beer, soft drink Established Turkey represents a -Product innovation The team is delivering and ice-cream partnerships with the large domestic retai
Slide 19: Thank you!
Thank you! For more information: investor@klimasan.com.tr www.klimasan.com.tr Elif Turak Investor Relations Manager Address: Manisa Organize Sanayi Bölgesi 1.Kısım Keçiliköy OSB Mah. Cumhuriyet Cad. No:1, 45030 Yunusemre/ Manisa/Turkey Phone: +90 236 236 2233
Slide 20: Back-up Slides
KLIMASAN Back-up Slides
Slide 21: Klimasan at a glance - Milestones
Klimasan at a glance - Milestones Corporate history dates back to 1915 when the Senocak family business was founded… Restructuring of Klimasan shares Metalfrio Extension the family started to be completes of the business and traded at Istanbul acquisition of factory the start of Stock Exchange Senoc
Slide 22: Klimasan at a glance – Shareholder Structure
Klimasan at a glance – Shareholder Structure • Brazilian multinational Free float (Other) • One of the world’s largest manufacturers of plug-in commercial refrigeration equipment 31,2% Metalfrio Solutions • Product portfolio of 350 different models of commercial refrigerators 61,0% • Direct distribu
Slide 23: Klimasan at a glance - Clients
Klimasan at a glance - Clients 2019-2021 Blue-chip client’s ratio in total is 45% ▪ Integral part of trade/marketing strategy ▪ Full range of products addressing brand priorities, ▪ Coolers/Freezers are the brand presence at POS POS consumer occasions/ multi-channels and geographies ▪ Boost consumer
Slide 24: Klimasan at a glance
Klimasan at a glance 2 production plants, 1800 employees Production Capacity (1000 units/year) 800,000+ units of annual production capacity Footprint in 90+ countries, market leader in Turkey +37% 1600+ customers and 3 mn+ units of production 813 in the last 10 years 591 Approved R&D Center in Turke
Slide 25: Klimasan at a glance - Innovation
Klimasan at a glance - Innovation Innovation & Customization Sales by product category Horizontals 43% Specials 2% Verticals 54% Customer Diversification & New Channels • Approved R&D Center in Turkey • 7 Patents in 2021 • 6 Industrial Designs in 2021
Klimasan Klima Sanayi Ve Ticaret A.S. — FY2021 Earnings Presentation on 6ix