Kimteks Poliuretan Sanayi Ve Ticaret As · BIST:KMPUR
Kimteks Poliuretan Sanayi Ve Ticaret As — 9M 2024 Earnings Presentation
45 slides from Kimteks Poliuretan Sanayi Ve Ticaret As's earnings presentation, November 2024
Slide 1: Kimteks Polyurethane System House 2024 9 Months Business Results
KIMTEKS POLYURETHANE SYSTEM HOUSE UNCOMMON SOLUTIONS KİMTEKS POLİÜRETAN SANAYİ VE TİCARET A.Ş. AND ITS SUBSIDIARIES 2024 - 9 MONTHS BUSINESS RESULTS INVESTOR PRESENTATION NOVEMBER 2024
Slide 2: Kimpur - Over 40 Years of Success
KİMPUR - OVER 40 YEARS OF SUCCESS Kimpur IPO Commissioning of Kimpur Europe Commissioning of Gebze R&D Center Production Facility's Rooftop SPP 72 kT Sales Volume Certificate Plant 6 Sigma Excellence Collaborations with Düzce Production Facility Establishment Moving to Gebze Start of Flexible Model
Slide 3: Production Facilities and Central Office
Gebze Production Facility European Production Facility Düzce Production Facility Central Office
Slide 4: Uncommon Solutions in All Aspects of Life
UNCOMMON SOLUTIONS IN ALL ASPECTS OF LIFE ROOF INSULATION (SPRAY SYSTEMS) SOLAR PANEL SYSTEM Shoe systems ROCK WOOL / EPS ADHESIVE FRAME (Wood Imitation) SANDWICH PANEL (PUR/PIR) BED HEAD (Wood Imitation) Rigid foam systems OFFICE CHAIR VISCO PILLOW VISKO BED COOLING SYSTEMS Flexible foam systems SE
Slide 5: Numbers at a Glance
NUMBERS AT A GLANCE 40 + 281 kton +85 kton 10 50+ 328 %39 600+ PRODUCTION A VISION TO BE YEARS CAPACITY ONE OF THE TOP 10 GLOBAL OF RAVAGO PETROKİMYA A.Ş. PLAYERS EXPORTS / TOTAL • 141 kton Gebze COOPERATION IN THE WORLD EXPORT TO EMPLOYEE TONNAGE PRODUCT EXPERIENCE • 25 kton Latvia WITH A TOTAL CAP
Slide 6: Prominent Investment Elements
PROMINENT INVESTMENT ELEMENTS R&D Center & Innovative Applications Strong Domestic & Export Growth Reliable Solution Partnership Leading the Industry Strategy with Wide Product Range Our Strategic Projects & Environmental and Social Sustainable Enlargement and Strong Finance and Risk Management Sust
Slide 7: Reliable Solution Partnership
i. Reliable Solution Partnership
Slide 8: Kimpur Strategy House
KIMPUR STRATEGY HOUSE To be a company recognised in the world with innovative and extraordinary solutions in polyurethane systems Our Priority Sustainable Growth Sustainable Climate Crisis and Innovation and Supply Chain Employee Topics Carbon Management Product Management Technology Management Righ
Slide 9: Our Outstanding Corporate Features
OUR OUTSTANDING CORPORATE FEATURES Türkiye's 188th Largest Company 2 Production Facilities in Türkiye, 1 in Europe Polyurethane Industry Leader in Türkiye Germany, USA, UK, Malta and Russia Offices Global Export Record Holder in its Sector Profitable Exports to More Than 50 Countries on
Slide 10: R&D Center & Innovative Applications Leading the Industry
ii. R&D Center & Innovative Applications Leading the Industry
Slide 11: Kimpur R&D Center
KIMPUR R&D CENTER Responding to consumer needs with science, our R&D team supports Kimpur's innovation projects. Kimpur R&D Centre Project is supported by the Ministry of Science, Industry and Technology. R&D 250 TÜRKİYE'S 250 COMPANIES R&D INVESTING THE INNOVATIVE INNOVATIVE INNOVATIVE SIMULATION M
Slide 12: Kimpur Turkey's Polyurethane R&D Power
KIMPUR R&D CENTER Kimpur Turkey's Polyurethane R&D Power 19 Registered Trademark Participation in European Union projects on Bio, Recycling and Sustainability with leading Among the 250 companies with the highest R&D expenditures companies and universities in the field DURATION Application within th
Slide 13: Strong Domestic & International Sales with a Wide Range of Products
iii. Strong Domestic & International Sales with a Wide Range of Products Export Growth Strategy
Slide 14: Global Polyurethane Market
GLOBAL POLYURETHANE MARKET Global Polyurethane Market Volume Factors/Trends Affecting Global Market Volume Polyurethane has become an important part of many sectors around the world thanks to its versatile use Increasing demand for lightweight, durable and high-performance products in many areas
Slide 15: Turkish Polyurethane Market
GLOBAL POLYURETHANE MARKET Factors/Trends Affecting Turkish Market Volume Turkish Polyurethane Market The rigid product group, which has the largest volume, shows a significant increase in 2023 and 2024. The main reason for this situation is interpreted as the increase in the building and construc
Slide 16: Distribution of Sales
DISTRIBUTION OF SALES Case Raw Other Other 1% 3% Raw 0% 24 /23 9A 9% SALES 14% 2022 2023 2023 9A 2024 9A DIFFERENC Case (thousand tons) Polyester E% 3% 2% Domestic 71.5 103.2 79.3 67.5 -15,0% Rigid 34.0 54.2 41.7 38.9 -6,8% Polyester Flexible 8% Footwear 24.2 25.4 19.1 14.0 -26,4% 6% Flexible 3.5 4.
Slide 17: Kimpur Product Groups
KIMPUR PRODUCT GROUPS Sales Breakdown of Product Groups by Year, Quantity (%) 0,2% 0,8% 1,8% 1,1% 6,8% 7,8% 1,1% 1,5% 12,5% 11,0% 3,0% 2,0% 5,5% 2,2% 1,7% 5,4% 2,9% 4,4% 4,6% 4,7% Diğer Other Hammadde Raw Material 36,8% 37,4% 28,4% 21,1% Case Case Polyester industries Flexible Flexible Footwear Ayak
Slide 18: Rigid Foam Systems
RIGID FOAM SYSTEMS Rigid Foam Systems Sales Amount (Ton) Rigid Foam Systems Two-component rigid foam systems for insulation 69.665 purposes for insulation panel and White Goods sectors 60.800 • The first component is a physical mixture of 52.280 46.784 polyether polyols, catalyst, surfactant, wate
Slide 19: Shoe and Slipper Systems
SHOE AND SLIPPER SYSTEMS Sales Quantity of Shoe Systems (Ton) Shoe Systems 39.122 40.305 Expanded microcellular foams in both ester and ether form for all types of footwear soles, from occupational safety to sports and everyday 32.429 30.166 products 23.428 KIMfoot® are 3-component Polyester sys
Slide 20: Flexible Foam Systems
FLEXIBLE FOAM SYSTEMS Flexible Foam Systems Sales Amount (Ton) Flexible Foam Systems MDI based KIMflex® Flexible Foam Systems produced by Kimpur; 6.568 HR foam systems, 5.660 Viscoelastic systems, 5.261 4.890 Integral systems 4.603 They are classified as filter systems. Systems for flexi
Slide 21: Polyester Polyols
POLYESTER POLYOLS Sales Amount of Polyester Polyols (Tonnes) Polyester Polyols It manufactures KIMpol® Polyester Polyols consisting of multifunctional combinations of carboxylic acids and polyhydric alcohols with various 4.923 functionalities to offer the best solutions to industries such as the f
Slide 22: Special Products
SPECIAL PRODUCTS Special Products Sales Amount (Tons) Special Products Polyurethane Systems for elastomeric applications in expanded foams and non-foam structures. 2.398 Reaction Injection Molding (RIM), Micro-cellular Structural Foam RIM, 2.260 SRIM (Structural RIM Composites) and low density R
Slide 23: Raw Materials
RAW MATERIALS Raw Material Sales Amount (Ton) Raw Materials The raw materials supplied by Kimpur are collected under Kimraw® product group and used in many different fields such as plasticisers, 17.810 adhesives, construction chemicals and paints, especially 15.210 polyurethane systems. 12.190 8.1
Slide 24: Strategic Projects & Sustainable Expansion and Export Policies
iv. Strategic Projects & Sustainable Expansion and Export Policies
Slide 25: Sustainable Expansion / Düzce Investment
SUSTAINABLE EXPANSION / DÜZCE INVESTMENT March 2022 in July 2023. Production factory investment on 17.015m2 land in Gümüşova OSB April 2023 Construction has been completed. Construction The first phase has been 12.5 Million USD investment started commissioned. size(*) Kimpur Duzce Factory Investment
Slide 26: Highlights for 2024 - Sustainable Growth
HIGHLIGHTS FOR 2024 - SUSTAINABLE GROWTH KİMPUR - RAVAGO PETROKİMYA A.Ş POLYURETHANE UNIT INVESTMENT SP & Pet Polyester & Project Roadmap Strategic Financial Competitive Standard PES Objectives Opportunities Advantage Growth Relocation Increasing Opportunity for Serving many PET Polyester
Slide 27: Strong Export Growth Strategy
STRONG EXPORT STRONG EXPORTGROWTH STRATEGY STRATEGY (EXPORT(EXPORTS TO 50+ TO 50+ COUNTRIES) COUNTRIES) Central Office Gebze Production Facility 141 kT EXPORT TO MORE THAN 50 COUNTRIES IN 5 Düzce Production Facility (2024-2025) CONTINENTS
Slide 28: Strong Export Strategy
STRONG EXPORT STRATEGY SALES (TON) SATŞLAR (TON) 2022 % 2023 % 2023 9A % 2024 9A % Share of Exports in Total Sales SHARE OF EXPORTS % European Countries (% tons) Avrupa Ülkeleri 4.897 14,8% 11.673 30,1% 7.567 34,2% 17.055 39,3%60% 39,2% CIS CISCountries Ülkeleri 10.870 32,8% 9.292 23,9% 6.027 27,2%
Slide 29: Environmental & Social Sustainability
v. Environmental & Social Sustainability
Slide 30: Transformation for a Sustainable Future
TRANSFORMATION FOR A SUSTAINABLE FUTURE TRANSFORMATION FOR OUR NATURE TRANSFORMATION FOR OUR LIVES TRANSFORMATION FOR OUR BUSINESS Energy Saving Kimpur Code of Ethical Business Conduct Smart Business Model Carbon Management Occupational Health and Safety Digital Transformation and Wast
Slide 31: Our Sustainability Strategy
OUR SUSTAINABILITY STRATEGY As Kimpur, we are aware of our environmental, social and economic responsibilities for a sustainable future and we continue our efforts to fulfill Our Priority Topics these responsibilities with determination. In 2023, we moved forward with the perspective of 'Transformat
Slide 32: Our Sustainability Goals - I
OUR SUSTAINABILITY GOALS - I 33% Reduction Target for our Calculation of the product life In 2024, product lifecycle analyses were In 2023, although our production increased energy carbon cycle of all of our systems by 28%, the carbon footprint per unit completed. emissions by 2030 remained constant
Slide 33: Our Sustainability Goals - II
OUR SUSTAINABILITY GOALS - II According to the DMI Methodology, In 2023, Increasing budget Increasing the total of sales our sales volume increased Measurement of Digital Maturity level has been for digital transformation efforts 10% in quantity by 2024 %36 initiated. compared to 2022. (Base Year: 2
Slide 34: 2024 Prospects & Opportunities
2024 PROSPECTS & OPPORTUNITIES The transition of global manufacturers from system production to raw material suppliers and the opportunities that develop in parallel Successful representation at 2024 UTECH Europe, important contacts; Kimpur in the same league with global players! Growth target
Slide 35: 2024 Expectations & Deviation from Target for First 9 Months
2024 EXPECTATIONS & OPPORTUNITY FORECAST vs 2024 DEVIATION FROM TARGET FOR FIRST 9 MONTHS & REASONS Shrinking domestic market / footwear sector beyond our expectations Decline in forward purchases - negative impact on gross profit In target markets, the cost of market entry and additional cost
Slide 36: Financial Performance
vi. Financial Performance (2024 9A- Critical Financial Indicators)
Slide 37: 2024: Increased Exports
2024: INCREASED EXPORTS IAS 29 After Inflation Accounting TAS 29 Pre-Inflation Accounting 8.465,5 10.657,2 9.444,5 1.907,0 2.907,2 5.807,5 3.272,7 1.084,3 8.750,3 6.171,8 5.558,3 4.723,2 2023 9A 2024 9A 2023 9A 2024 9A Yurtiçi Satışlar Domestic Sales İhracat Countries Toplam Rising Yurtiçi Satışlar
Slide 38: 2024 9A Profitability Values (TAS 29)
2024 9A PROFITABILITY VALUES Adjusted Results According to Inflation Accounting (TAS 29) Gross Profit (Million TL) EBITDA (Million TL) TL) EBITDA (Million 18,2% 20,0% 20,0% 17,5% 2.500,0 18,0% 2.500,0 18,0% 15,6% 16,0% 16,0% 2.000,0 2.000,0 13,3% 14,0% 14,0% 1.500,0 12,0% 1.500,0 1,721.4 12,0% 10,0%
Slide 39: 2024 9A Profitability Values Before Inflation Accounting
2024 9A PROFITABILITY VALUES Results Before Inflation Accounting (TAS 29) Gross Profit (Million TL) EBITDA (Million TL) TL) EBITDA (Million 25,0% 25,0% 2.500,0 2.500,0 19,3% 19,4% 20,0% 20,0% 2.000,0 15,7% 2.000,0 13,6% 15,0% 15,0% 1.500,0 1.500,0 1,721.4 10,0% 10,0% 1.000,0 1.000,0 1.673,1 1.680,6
Slide 40: Breakdown of Monetary Loss Due to Inflation Accounting
2024 9A: Breakdown of monetary loss due to inflation accounting (thousandTL) 555.721 8.522 -319.631 -883.874 Equity Effect Asset Impact Income Statement Indexation Monetary Loss
Slide 41: Strict Balance Sheet Management & Healthy Financial Indebtedness Ratios
STRICT BALANCE SHEET MANAGEMENT & HEALTHY FINANCIAL INDEBTEDNESS RATIOS (Adjusted Results According to Inflation Accounting (TAS 29)) Net Financial Debt (Million TL) Net Working Capital (Million TL) 1,41 0,83 6.000 25,5% 26,0% 2.500 1,00 0,43 2.239 5.000 24,4% 25,0% 24,3% 2.000 - 1.721 1.730 4.000 2
Slide 42: Strict Balance Sheet Management (Before Inflation Accounting)
STRICT BALANCE SHEET MANAGEMENT & HEALTHY FINANCIAL INDEBTEDNESS KIMPUR R&D CENTER RATIOS (Results Before Inflation Accounting (TAS 29)) Net Financial Debt (Million TL) Net Working Capital (Million TL) 6.000 33,8% 1,84 34,0% 3.000 2,00 5.000 31,2% 32,0% 1,07 2.500 0,57 2.239 1,00 30,0% 4.000 28,6% 2
Slide 43: Financial Priorities
FINANCIAL PRIORITIES Sustainable profitability growth Strict balance sheet & business capital management Positive Free Cash Flow Priority Proactive currency risk management Effective financial debt management Maximum dividend yield
Slide 44: Disadvantages
DISADVANTAGES In accordance with the decision of the Capital Markets Board (CMB) dated 28.12.2023 and numbered 81/1820, issuers and capital market institutions subject to the financial reporting regulations of the CMB, which apply Turkish Accounting/Financial Reporting Standards, have decided to app
Slide 45: Contact
CEO: Cavidan Karaca cavidan.karaca@kimpur.com IR:Damla Mermeroglu damla.mermeroglu@kimpur.com investorrelations@kimpur.com Düzce Factory Kimpur Europe Kimpur UK Central Office Gebze Factory OSB, Yakabaşı Mevki, 1. Cadde No:12, Brīvības iela 103, Liepāja, LV-3401 Building 3 North London Business
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