Cimsa Cimento Sanayi Ve Ticaret A.s. · BIST:CIMSA
Cimsa Cimento Sanayi Ve Ticaret A.s — Q3 2017 Earnings Presentation
18 slides from Cimsa Cimento Sanayi Ve Ticaret A.s's earnings presentation, 2017
Slide 1: CIMSA 2017 Q3 Results Presentation
CIMSA 2017 Q3 Results Presentation 1
Slide 2: Disclaimer
Disclaimer “Çimsa Çimento Sanayi ve Ticaret A,Ş,” (CIMSA) may, when necessary, make written or verbal announcements about forward-looking information, expectations, estimates, targets, assessments and opinions, CIMSA discloses information through its Disclosure Policy and has shared this policy with
Slide 3: 2017 Market Overview: Turkish Cement Market
2017 Market Overview Turkish Cement Market 3
Slide 4: Turkish Cement Market Development in Q3 2017
Turkish Cement Market Development in Q3 2017 • Turkey’s total cement comsumption is increased by 2.6 % YoY in July 2017 • 10.1 Mt of cement & clinker has been exported from Turkey in 9M 2017, an increase of 12 % YoY • The average grey cement price increased by 4% YoY • The primary fuel cost has decr
Slide 5: Turkish Cement Market
Turkish Cement Market • Cement sector growth is correlated with GDP 25,0% 22,0% 19,4% 20,0% 15,7% 15,0% 11,2% 10,0% 9,4% 10,0% 8,8% 10,8% 6,4% 5,9% 9,1% 8,9% 8,9% 6,1% 5,0% 5,8% 7,3% 5,0% 4,7% 4,6% 5,0% 5,8% 4,8% 4,6% 0,0% 2,9% 3,0% 0,0% 0,9% 2,1% 2,1% 0,8% -5,0% -4,8% -6,0% -10,0% 2002 2003 2004 20
Slide 6: Turkish Cement Market
Turkish Cement Market • There is a positive correlation between GDP per capita and cement consumption • The cement consumption per capita is expected to increase in 2017 along with GDP per capita 14.000 1.400 12.480 12.112 12.000 11.588 1.200 11.205 11.014 10.931 10.807 10.560 9.656 10.000 1.000 8.9
Slide 7: Turkish Cement Market
Turkish Cement Market • 10.1 Mt of cement & clinker has been exported from Turkey in 9M 2017 2016 Jan-Sep 2017 Jan-Sep Total Exports 2016: 9.1 mton 2017: 10.1 mton 29% 30% 27% 21% 20% 16% 16% 13% 12% 10% 5% 1% MENA West Africa North America South America Middle And South Africa Others West Africa re
Slide 8: Operational Data
Operational Data 8
Slide 9: Key Operational Figures in 9M 2017
Operational Data Key Operational Figures in 9M 2017 2016 Q3 2017 Q3 2016 9M 2017 9M Grey clinker production (kton) 1,108 1,354 3,177 3,605 White clinker production (kton) 315 314 907 875 Grey cement & clinker sales (kton) 1,220 1,695 3,587 4,079 White cement & clinker sales (kton) 356 358 1,000 996
Slide 10: Operational Data
Operational Data • Grey cement & clinker sales of 4 Mt, and white cement & clinker sales of 1 Mt in 9M 2017 Grey Cement & Clinker Sales Volumes (Mt) White Cement & Clinker Sales Volumes (Mt) Grey Cement Domestic Sales: White Cement Export Sales: 2010-16 CAGR: 1,8 % 2010-16 CAGR: 2,5 % 0,6 0,5 0,5 0,
Slide 11: Operational Data
Operational Data Strong performance in projects reflected in increasing RMC volume Ready Mix Concrete Sales Volumes (M m3) 3,5 3 2,7 2,8 2,6 2,6 2,4 2,4 2,4 2,3 2,1 0,7 1,0 08 09 10 11 12 13 14 15 16 Q3 16 Q3 17 9M 2016 9M 2017 Increased RMX volume YoY in Q3 and 9M Projects continued to gain momentu
Slide 12: Operational Data
Operational Data • Stable petcoke prices in Q3 Petcoke (Mid-Suphur) (CIF $/ton) 2016 2017 97 97 87 87 87 87 87 87 83 80 88 85 50 47 47 47 43 43 39 35 35 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec - Petcoke price came down in September, thanks to the use of high sulphur petcoke from Tüpraş. - Pr
Slide 13: Operational Data
Operational Data • No increase in tariffs, though an increase in electricity prices in the OTC market Electricity (TL/Mwh) 2017 2016 233 228 216 218 216 212 211 207 205 205 203 202 196 196 197 194 204 190 184 181 179 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec - Only 9% increase in electricity c
Slide 14: Financial Data
— Financial Data cimM@eQ
Slide 15: Key Financial Highlights
Financial Data Key Financial Higlights (MTL) Q3-2017 9M-2017 Q3-2016 9M-2016 Net consolidated sales 424,2 1.054,4 294,7 880,8 Consolidated EBITDA (*) 124,4 272,0 106,7 296,1 Consolidated EBITDA Margin % 29,3% 25,8% 36,2% 33,6% Net consolidated Profit 72,1 153,4 71,4 204,8 Paid in capital 135,1 135,1
Slide 16: Consolidated EBITDA
Financial Data Consolidated EBITDA is 124 mn TL in Q3 2017 (Q3 2016 : 107 mn TL) 450 36% 40% 34% 400 35% 29% 29% 30% 30% 350 28% 26% 26% 30% 25% 25% 25% 300 356 352 296 25% 250 306 272 20% EBITDA 200 236 210 EBITDA Margin % 176 15% 150 182 201 10% 100 107 124 50 5% 0 0% 2009 2010 2011 2012 2013 2014
Slide 17: Consolidated Net Profit
Financial Data Consolidated net profit is 72 mn TL in 2017 Q3 (2016 Q3 :71 mn TL) 302 38 245 246 14 21 205 193 8 140 12 153 231 9 181 225 88 197 8 72 3 145 108 123 115 124 104 79 69 2009 2010 2011 2012 2013 2014 2015 2016 Q3 16 Q3 17 9M 16 9M 17 Net Profit from operations SAHOL Stake Sale Exsa Equit
Slide 18: Total Net Debt
Financial Data Total net debt increased to 1.267 mn TL as of September 30, 2017 (2016 : 754 mn TL) 1.400 1.267 1.200 373 1.000 800 754 600 212 Long Term Borrowings 349 956 400 Short Term Borrowings 109 213 575 223 83 200 79 56 Net debt 106 153 6 27 104 258 41 20 158 164 62 87 82 85 0 2009 2010 2011
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