Dogan Sirketler Grubu Holding A.s. · BIST:DOHOL
Dogan Sirketler Grubu Holding A.s — Q1 2025 Earnings Presentation
30 slides from Dogan Sirketler Grubu Holding A.s's earnings presentation, May 9, 2025
Slide 1: 1Q 2025 Financial and Operational Results
1Q 2025 Financial and Operational Results May 9, 2025
Slide 2: Disclaimer
The information contained in this presentation has been obtained from sources deemed reliable by Dogan Sirketler Grubu Holding A.S. (“Dogan Holding”) and is provided solely for informational purposes. However, Dogan Holding makes no representations or warranties regarding the accuracy, completeness,
Slide 3: 1Q25 Highlights
1Q25 Highlights Solid net cash position NAV slightly lower vs year-end Outperformance vs BIST-100 • • • o o • • o o • Solo Net Cash Position (mn USD) Net Asset Value (mn USD) 1Q25 Returns (%) 10% 671 646 2,598 2,494 -2% 2024YE 1Q25 2024YE 1Q25 BIST 100 DOHOL 3
Slide 4: 1Q25 Summary Financial Performance, Reported
1Q25 Summary Financial Performance, Reported (Million TRY) Revenue, mn TL EBITDA mn TL & margin Net Profit/Loss, mn TL 24,349 9% 9% 1,312 19,039 2,220 1,790 -520 1Q24 1Q25 1Q24 1Q25 1Q24 1Q25 4
Slide 5: Strategic and Dynamic Focus Areas
Strategic Dynamic Focus Areas Focus Areas Renewable Mining Financial Electronics, Automotive & Internet, Energy Services Technology & Mobility Entertainment, Industry Real Estates Galata Wind Gumustas Hepiyi Insurance Karel Dogan Trend Hepsiemlak D Investment Bank Sesa Kanal D Romania Doruk Factorin
Slide 6: Strategic Focus Areas
KNOWS AND CREATES VALUE Strategic Focus Areas 6
Slide 7: Electricity Generation: Galata Wind
Electricity Generation Galata Wind Project Capacity (MW) Mersin WPP 94 • Revenue EBITDA & margin Şah WPP 105 670 76% Taşpınar WPP + SPP 115 • Çorum SPP 9 556 71% Erzurum SPP 25 508 395 CURRENT CAPACITY 348 • 2025 - 2026 1Q24 1Q25 1Q24 1Q25 Taşpınar Hybrid SPP (2nd Phase) 7 Germany SPP 22 Alapınar WP
Slide 8: Mining: Gümüştaş
Mining Gümüştaş Among top 3 Lead & Zinc producers in Türkiye Other metals Revenue EBITDA & margin Gold & Silver 3.4 bn USD 749 55% 34% • 409 45% • 15% 6% 1Q25 1Q25 Copper Lead & Zinc 1.5 bn USD 0.6 bn USD Net Profit ş ş • 12m ton reserves 201 80 research license Lead & Zinc at Niğde 1Q25 Copper at B
Slide 9: Digital Financial Services: Hepiyi Insurance
Digital Financial Services Hepiyi Insurance Türkiye’s first end-to-end digital insurer Revenue AUM (mn USD) 6,537 533 • 3,341 238 • 1Q24 1Q25 1Q24 1Q25 • Net Profit MOD Market Share %* 504 4,3 198 1,9 1Q24 1Q25 1Q24 1Q25 9
Slide 10: Digital Financial Services: D Investment Bank & Doruk Factoring
Digital Financial Services D Investment Bank & Doruk Factoring Revenue Net Profit Total Assets • 153 53 5,551 139 23 3,046 • 1Q24 1Q25 1Q24 1Q25 1Q24 1Q25 Revenue Net Profit Total Assets 213 895 6,220 • 458 3,894 • 72 1Q24 1Q25 1Q24 1Q25 1Q24 1Q25 10
Slide 11: Dynamic Focus Areas
KNOWS AND CREATES VALUE Dynamic Focus Areas 11
Slide 12: Electronics, Technology & Industry: Karel
Electronics, Technology & Industry Karel Revenue EBITDA & margin 9% 4,306 20% 8% 3,275 19% 348 4% 139 5% • 47% 1Q24 1Q25 1Q24 1Q25 • Net Profit/Loss • -154 • -352 1Q24 1Q25 12
Slide 13: Electronics, Technology & Industry: Sesa Packaging
Electronics, Technology & Industry Sesa Packaging 56% Revenue EBITDA & margin 50% 16% 8% 1,162 970 181 81 1Q24 1Q25 1Q24 1Q25 1Q24 1Q25 • Net Loss • -0,3 • -3,6 1Q24 1Q25 13
Slide 14: Electronics, Technology & Industry: Ditas
Electronics, Technology & Industry Ditas Revenue EBITDA 516 2 413 -7 1Q24 1Q25 1Q24 1Q25 • Net Loss • -47 • -96 1Q24 1Q25 14
Slide 15: Automotive & Mobility: Dogan Trend
Automotive & Mobility Dogan Trend Revenue EBITDA & margin 5.949 11,197 2% 174 3,083 4.015 1Q24 1Q25 -322 1Q24 1Q25 2.042 2.044 • 1.142 Net Loss 591 MG Suzuki Motorcycle 1Q24 1Q25 -317 -388 1Q24 1Q25 •
Slide 16: Internet & Entertainment: Kanal D Romania & Hepsiemlak
Internet & Entertainment Kanal D Romania & Hepsiemlak Revenue EBITDA & margin Net Profit 590 39% 519 25% 100 200 80 148 • • 1Q24 1Q25 1Q24 1Q25 1Q24 1Q25 • • Revenue EBITDA Net Loss 144 5 108 -26 • -67 -138 • 1Q24 1Q25 1Q24 1Q25 1Q24 1Q25 16
Slide 17: Real Estate Investments: 260mn USD
Real Estate Investments: 260mn USD ğ • • 17
Slide 18: Dynamic Cash Management
Dynamic Cash Management 671 646 2024YE 1Q25 18
Slide 19: Closing Remarks
KNOWS AND CREATES VALUE Closing Remarks 19
Slide 20: Buy-backs continued to support the sentiment
Buy-backs continued to support the sentiment VALUE-CREATING STEPS Date Amount Bought (Lot) Average Price (TL) Average Price (USD) Amount Bought (TL) Amount Bought (USD) Share in Capital 21/03/2025 275,000 13.62 0.36 3,746,188 98,974 0.01% 26/03/2025 760,000 14.91 0.39 11,330,232 298,725 0.03% 28/03/
Slide 21: Consistent Dividend Payments
Consistent Dividend Payments 8,7% 2,4% 2,3% 3,2% 2,3% 1,9% 2,1% 0,3% mn USD 2018 2019 2020 2021 2022 2023 O 2023 S 2024 Dividend income 4 4 31 43 19 29 24 Dividend paid-out 45 15 22 20 25 4 21 22 21
Slide 22: 2025 Guidance – No change
2025 Guidance – No change Strategic Focus Areas Renewable Energy Mining Digital Financial Services (Galata Wind) (Gümüstas) (Hepiyi – DY Bank – Doruk Factoring) TL Revenue growth: CPI* + 5 to 8 pp 50+ MW increase in >50% TL Revenue 250 - 300mn USD AUM* TL EBITDA** growth: CPI* + 6 to 10 pp installed
Slide 23: Thank you
KNOWS AND CREATES VALUE Thank you 23
Slide 24: Appendix
KNOWS AND CREATES VALUE Appendix 24
Slide 25: Appendix / NAV & Shareholder Structure
Appendix / NAV & Shareholder Structure NAV Shareholder Structure DOHOL DOHOL Valuation 1Q25 Valuation Method stake Stake (mn USD) (mn USD) Electricity Production 255 Boyabat HEPP 33.00% 0 0 Aslancık HEPP 33.33% 0 0 Galata Wind Market Cap 70.00% 364 255 Electronics, Technology & Industrials 177 Ditas
Slide 26: Appendix / Financial Tables
Appendix / Financial Tables Profit & Loss Statement Balance Sheet ∆ ∆ 26
Slide 27: Appendix / Financial Tables
Appendix / Financial Tables Revenue Breakdown Net Cash / (Debt) Breakdown ∆ ∆ ş ş ş ş ş 27
Slide 28: Appendix / 1Q25 Segmental Analysis
Appendix / 1Q25 Segmental Analysis ş ş ş ğ ğ ğ ş 28 ş ş
Slide 29: Investor Relations Contacts
Investor Relations Contacts KNOWS AND CREATES VALUE ir@doganholding.com.tr +90 216 556 94 00 Melda Öztoprak Investor Relations Director meldao@doganholding.com.tr Özge Atay Investor Relations Manager ozgea@doganholding.com.tr 29
Slide 30: Thank you
KNOWS AND CREATES VALUE Thank you 30
Dogan Sirketler Grubu Holding A.S. — Q1 2025 Earnings Presentation on 6ix