Cimsa Cimento Sanayi Ve Ticaret A.s. · BIST:CIMSA
Cimsa Cimento Sanayi Ve Ticaret A.s — Q3 2023 Earnings Presentation
15 slides from Cimsa Cimento Sanayi Ve Ticaret A.s's earnings presentation, Nov 7, 2023
Slide 1: Earnings Presentation Q3 2023
ÇİMSA EARNINGS PRESENTATION Q3 2023 Mustafa Aydın, CFO November 7, 2023
Slide 2: Disclaimer
Disclaimer The information and opinions contained in this document have been compiled by Çimsa Çimento Sanayi ve Ticaret A.Ş. (“CIMSA”) 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 corre
Slide 3: Strategic Focus Resulted in Excellence in All Aspects
Strategic Focus Resulted in Excellence in All Aspects Q1 Q2 Q3 Afyon Solar Power Plant is operational Afyon Solar Power Plant investment kicked off SBTI commitments announced Included in Refinitiv Diversity & Inclusion 100 Included in Sustainability Index 25 Value added CAC product Flycrete is Index
Slide 4: Robust Performance Continues in Q3
Robust Performance Continues in Q3 • Full capacity utilization at all plants • Lower energy & fuel prices with optimized procurement & global dynamics • Energy Investments • Focus on alternative fuel usage • Strong balance sheet and cash management • Tax incentive 4
Slide 5: Domestic Demand Remains Resilient in Q3
Domestic Demand Remains Resilient in Q3 • Domestic cement consumption increased by Cement & Clinker Export (mt) 20% August YTD, Cement & Clinker Domestic Sales (mt) • Increase in Çimsa regions: Cement Production Capacity (mt) - Mediterranean: 28% - Central Anatolia: 26% 97 100 100 94 95 31 31 14 27
Slide 6: Constant Capacity Utilization, Sales Volume Remain Flat YoY
Constant Capacity Utilization, Sales Volume Remain Flat YoY Grey Cement & Clinker Sales Volumes (K ton) White Cement & Clinker Sales Volumes (K ton) Domestic Export Domestic Export 1.121 1.184 423 392 981 1.031 377 335 140 153 46 57 Q3'22 Q3'23 Q3'22 Q3'23 6
Slide 7: Energy and Fuel Prices Stabilised in Q3
Energy and Fuel Prices Stabilised in Q3 • Over 100$ decline in electricity prices in 9M2023 compared to 2022-end. ENERGY • Petcoke prices are still higher than historical average, despite 45% decrease in 9M2023 compared to 2022-end. FUEL 7
Slide 8: Fuel Mix Optimization Supports EBITDA Margin Growth
Fuel Mix Optimization SupportsEBITDA Margin Growth Çimsa Alternative Fuel Usage Alternative fuel usage remained at 30% in Q3, 6pp higher YoY - Turkey average : 10% 30% - Global peers: 25% 24% Q3'22 Q3'23 Fuel & Energy (% of Total Cost) Share of fuel & energy in total production remains below 50% tha
Slide 9: Robust Financial Performance Sustained in Q3 with Focus on Operational Efficiencies
Robust Financial Performance Sustained in Q3 with Focus on Operational Efficiencies NET SALES (MTL) EBITDA (MTL) NET INCOME (MTL)* 53% 123% 9.220 101% 2.036 57% 125% 2.002 145% 6.026 3.808 947 995 832 914 2.431 387 369 Q3'22 Q3'23 9M'22 9M'23 Q3'22 Q3'23 9M'22 9M'23 Q3'22 Q3'23 9M'22 9M'23 * Equity
Slide 10: Solid Financial Position Results Minimal Financial Expense in Q3
Solid Financial Position Results Minimal Financial Expense in Q3 231 1 304 Net Financial Income Net 0,4X 29 Debt/EBITDA 196 377 Financial Income from -102 -228 Investments Fx gain from operations -40 -98 -222 Fx Loss from Loans NWC/SALES* 16% Net Interest Expense 13 month average NWC/ LTM Sales Q3'2
Slide 11: Stellar Q3 Net Income Growth Driven by Operational Efficiencies
Stellar Q3 Net Income Growth Driven by Operational Efficiencies 11
Slide 12: Strategic Developments for Growth & Profitability
STRATEGIC DEVELOPMENTS FOR GROWTH & PROFITABILITY
Slide 13: Solar Energy Power Investment in Afyon Plant is Operational
Solar Energy Among Turkey’s biggest solar power Power Investment inAfyon plant investments Plant is Operational Million KwH 3.3 MW Capacity 4.2 Electric Energy 2000 Ton/Year CO Saving 2 2 Million Trees Neutralizing Capacity 13
Slide 14: Focus on Increasing Shareholder Value
Focus on Increasing Shareholder Value - Growing dividend MTL - Bonus issue with 600% from internal resources is realised 400 68 200 2018 0 2019 0 2020 0 2021 2022 2023 Dividend Paid - SBS share purchase from Sabancı Holding in progress - Increasing Share Price Performance - Majority control with add
Slide 15: Q&A
Q&A
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