Oyak Cimento Fabrikalari A.s. · BIST:OYAKC
Oyak Cimento Fabrikalari A.s — OYAK Çimento Fabrikaları A.Ş. — Q4 2024 Earnings Presentation
32 slides from Oyak Cimento Fabrikalari A.s's earnings presentation, 2025
Slide 1: Financial Results
~ FINANCIAL OTC RESULTS CEMENT
Slide 2: Key Messages & Financial Highlights
01 Key Messages & Financial Highlights
Slide 3: Key Messages & Financial Highlights · 2024 vs 2023
01 Key Messages & Financial Highlights · 2024 vs 2023 Net Sales (4Q24 vs 4Q23) Net Sales (2024 vs 2023) • Cement volume growth reached 12% in 2024 while RMC growth 11.171 m ₺ (386 m €) 44.431 m ₺ (1.209 m €) reached 24% in same period. -5% +0,2% EBITDA (4Q24 vs 4Q23) EBITDA (2024 vs 2023) 3.295 m ₺
Slide 4: Peer Analysis · Superior Performance in 2024
01 Peer Analysis · Superior Performance in 2024 +0,2% -5% -20% -20% Sales Revenue 2023 2024 OYAKC Competitor 1 Competitor 2 Competitor 3 +4% -15% -29% -8% EBITDA OYAKC Competitor 1 Competitor 2 Competitor 3 +1 pp -2,4 pp -2,1 pp +3,2 pp EBITDA Margin (%) OYAKC Competitor 1 Competitor 2 Competitor 3
Slide 5: Industry Leadership & Achievements
01 Industry Leadership & Achievements Market leader in Türkiye Operates in 7 regions with 24 m tons installed capacity Wide product portfolio for building material sector Cement, clinker, RMC, aggregates, lime, marble, ash and slag One of the leading white cement producer 1 m tons of white clinker c
Slide 6: Sustainability targets drive long-term value
01 Key Messages & Financial Highlights · Sustainability targets drive long-term value The first cement company in Türkiye to make a “Net Zero” commitment Alternative Fuel Usage 58,0% 24,5% Operational efficiency 17,4% 6,4% 2016 2020 2024 2030 Readiness to regulatory changes Sustainability - Waste He
Slide 7: Cement Sector
Cement Sector fbtcc | @ax) GROUP HOLDINGS CEMENT
Slide 8: Turkish Cement Market
02 Turkish Cement Market Black Sea Türkiye Clinker Prod. Cap. 10,7 m ton Clinker # of # of # of Integrated P. 8 Prod. Cap. Integrated P. Grinding P. # of Grinding P. 4 Marmara 98,3 56 19 Clinker Prod. Cap. 22,3 m ton m ton # of Integrated P. 11 # of Grinding P. 2 Clinker Capacity Group (m ton/year)
Slide 9: Turkish Cement Sector · 2024, 2023 and 2022
02 Turkish Cement Sector · 2024, 2023 and 2022 Cement Production (m ton) Export (m ton) 2022 – 2023 2022 – 2023 84,8 27,3 73,7 81,5 +11% -28% 19,7 19,0 2023 –2024 2023 –2024 18,7 +4% 15,6 13,6 -3% Cement 8,6 4,0 5,4 Clinker 2022 2023 2024 2022 2023 2024 Domestic Cement Consumption (m ton)* Clinker S
Slide 10: Turkish Cement Sector · 2024 vs 2023
02 Turkish Cement Sector · 2024 vs 2023 Domestic Cement Consumption (change %) Türkiye +8,9% +3,1% +1,1% +20,7% +1,1% -7,2% +36,1% +19,8% OYAK Cement Plants (integrated) Source: TCMB 10
Slide 11: Turkish Cement Sector · 2024 vs 2023
02 Turkish Cement Sector · 2024 vs 2023 Cement Exports (‘000 ton) Clinker Exports (‘000 ton) 2023 2024 2023 2024 -13% +33% 15.639 5.398 13.614 4.046 6.852 6.736 854 1.006 944 400 452 367 316 346 442 762 279 262 338 550 555 299 570 13 USA Syria Italy Bulgaria Israel Total Italy Belgium Georgia Romani
Slide 12: OYAK Cement · Türkiye
02 OYAK Cement · Türkiye Cement Capacity 24 m ton İstanbul Kocaeli Zonguldak 1 Ordu Rize 4 1 3 3 1 1 Concrete Capacity 4 1 1 1 2 1 Bolu 14,1 m m 3 1 1 9 Ankara Aggregates Capacity 2 1 6,8 m ton 4 2 1 Denizli 2 1 Mardin 1 3 4 1 7 2 Hatay Adana 1 OYAK Cement operates 7 integrated and 3 grinding Cement
Slide 13: Export Distribution Channels
02 Export Distribution Channels United Kingdom - Port of Bristol France - Port la Rouen Romania - Port of Mangalia France - Port la Nouvelle Portugal - Viana Do Castelo TRNC - Port of Famagusta 13
Slide 14: Financial Results
Financial Results fbtcc | @ax) GROUP HOLDINGS CEMENT
Slide 15: Quarterly EBITDA Margin expansion on a YoY basis
03 Financial Results · Quarterly EBITDA Margin expansion on a YoY basis SALES REVENUE (m TL) EBITDA (m TL) NET INCOME (m TL) 27,9% 32,8% 29,5% 26,3% 18,2% 13,4% 11.723 12.163 -5% +1% -51% 11.171 YoY YoY YoY -8% -17% -32% QoQ 3.991 QoQ QoQ 3.271 3.295 3.082 2.219 1.501 4Q23 3Q24 4Q24 4Q23 3Q24 4Q24 4
Slide 16: EBITDA & EBITDA margin expansion
03 Financial Results · EBITDA & EBITDA margin expansion SALES REVENUE (m TL) EBITDA (m TL) NET INCOME (m TL) 29,4% 30,4% 26,5% 16,1% 44.324 44.431 13.044 13.519 +0,2% +4% 11.735 -38,9% 7.167 2023 2024 2023 2024 2023 2024 EBITDA and Net Income Margin (%) 16 IAS-29 applied financials
Slide 17: Net Working Capital (NWC) · Sustainable level with highest collateralization
03 Net Working Capital (NWC) · Sustainable level with highest collateralization NWC as a % of 21% 19% 16% 16% Sales Revenue (LTM) NWC (m TL) 6.938 6.501 6.269 5.262 5.430 5.907 6.411 4.041 -4.232 -4.810 -5.257 -6.067 Trade Receivables Inventories Trade payables 2021 2022 2023 2024 * Net working capi
Slide 18: Net Cash (Debt) Development · Solid balance sheet for future investments
03 Net Cash (Debt) Development · Solid balance sheet for future investments Net Cash (Debt) m TL Net Cash (Debt) / EBITDA (LTM) -1.832 1.382 6.130 8.350 0,62 0,47 6.352 7.652 4.606 0,14 1.430 2.076 632 949 774 -17 -61 -2.722 -85 -2.197 -3.999 -99 -1.172 -174 -0,34 2021 2022 2023 2024 2021 2022 2023
Slide 19: Free Cash Flow
03 Free Cash Flow m TL 13.519 -363 -1.528 FCF/ EBITDA 2024 28% 3.818 -7.810 EBITDA NWC Change Tax Payments CAPEX Free Cash Flow m TL 13.044 201 -2.832 7.921 FCF/ EBITDA -2.492 2023 61% EBITDA NWC Change Tax Payments CAPEX Free Cash Flow 19 IAS-29 applied financials
Slide 20: Q&A
Q&A fbtcc | @ax) GROUP HOLDINGS CEMENT
Slide 21: Appendix
Appendix fbtcc | @ax) GROUP HOLDINGS CEMENT
Slide 22: TCC Group Holdings (TCC) · Building a Green Future
04 TCC Group Holdings (TCC) · Building a Green Future TCC Global Operations TCC at a Glance 1,010 MWh Energy Storage Capacity • Founded on May 1, 1946 • Reorganized as TCC on January 1, 1951 Italy France Spain Australia US • Privatized in 1954 and management was taken over by the Koo family. 857k to
Slide 23: TCC Global Footprint
04 TCC Global Footprint Taiwan China Cement Capacity Clinker Capacity 77 m ton 65,8 m ton United Kingdom France Netherlands Cement Capacity Clinker Capacity 35 m ton 18,0 m ton Portugal Romania Integrated Grinding Calcined Clay Türkiye Facility Facility Facility 10 7 3 TRNC RMC Aggregates Paper & Co
Slide 24: Cement Product Portfolio
04 Cement Product Portfolio NEW NEW • CEM II/A-LL 42.5 R • CEM II/B-M (S-L) 42.5 R • CEM II/C-M (P-LL) 32.5 N • CEM I 52.5 R • CEM II/A-LL 52.5 R • CEM VI (S-LL) 32.5 R • CEM II/A-M (S-L) 42.5 R • CEM II/B-M (S-V) 42.5 R • CEM VI (S-L) 32.5 R • CEM II/A-M (P-LL) 42.5 R • CEM II/A-S 42.5 R • CL 80 -
Slide 25: OYAK Concrete · The Brand Name of Big Ticket Projects in Türkiye
04 OYAK Concrete · The Brand Name of Big Ticket Projects in Türkiye OYAK Concrete, the main field of activity of which is production and sales of ready-mix concrete, also intended to produce the aggregate, which has outpaced the cement in some plants and taken the first place among the concrete prod
Slide 26: Income Statement
04 Income Statement m TL 4Q24 4Q23 ∆% 2024 2023 ∆ % Revenue 11.171 11.723 -5% 44.431 44.324 0% Cost of sales -7.806 -8.416 -7% -31.799 -30.934 3% Operating expenses -836 -530 58% -2.513 -1.901 32% Other operating income / (expenses) 100 20 399% 776 -357 n.m. Operating profit / (loss) 2.629 2.797 -6%
Slide 27: Balance Sheet
04 Balance Sheet m TL 2024 2023 m TL 2024 2023 Current assets 22.644 21.378 Current liabilities 9.591 9.624 Cash and cash equivalents 6.352 7.652 Short term borrowings 61 2.197 Financial investments 2.076 774 Trade payables 6.067 5.257 Trade receivables 6.938 6.269 Other current liabilities 3.463 2.
Slide 28: Cash Flow
04 Cash Flow m TL 2024 2023 A. CASH FLOWS FROM OPERATING ACTIVITIES 9.401 7.949 Profit for the Period 7.167 11.594 Net Profit/(Loss) for the Period from Discontinued Operations - 141 Adjustments Related to Reconciliation of Net Profit for the Period 4.928 1.499 Changes in Working Capital -606 -1.849
Slide 29: Quarterly Managerial Revenue and EBITDA Development
04 Financial Results · Quarterly Managerial Revenue and EBITDA Development Quarterly Revenue (m TL) L12M* Revenue (m TL) 39.289 36.102 32.012 11.159 11.035 28.257 9.196 7.848 7.898 4Q23 1Q24 2Q24 3Q24 4Q24 1Q24 2Q24 3Q24 4Q24 Quarterly EBITDA (m TL) L12M EBITDA (m TL) 30,1% 27,6% 37,9% 35,1% 31,8% 3
Slide 30: Managerial Net Income Development
04 Financial Results · Managerial Net Income* Development Quarterly Net Income (m TL) L12M Net Income (m TL) 34,7% 38,7% 36,6% 35,5% 13.223 13.946 12.380 9.807 3.742 3.787 3.806 3.083 2.611 4Q23 1Q24 2Q24 3Q24 4Q24 1Q24 2Q24 3Q24 4Q24 Net Income Margin (%) * Figures are derived from internal manager
Slide 31: Contact Information
Contact Information Ali Onur AYGÜN Country Director – Financial Affairs Burak KÖROĞLU Accounting and Tax Director Ece Nur DEVECİ Financial Planning and Analysis Manager OYAK Cement Contact Information : iletisim@oyakcimento.com investor.relations@oyakcement.com +90 312 220 01 12
Slide 32: Disclaimer · Forward-looking Statements
Disclaimer · Forward-looking Statements Bu sunum OYAK Çimento Fabrikaları A.Ş. tarafından sadece bilgi sağlamak amacıyla hazırlanmıştır. OYAK Çimento Fabrikaları A.Ş. yönetimi tarafından sağlanan kamuya açık bilgiler ve verilere dayanmaktadır ve temel olarak, mevcut ve gelecekteki iş stratejilerimiz
OYAK Çimento Fabrikaları A.Ş. — Q4 2024 Earnings Presentation on 6ix