Atakey Patates Gida Sanayi Ve Ticaret As · BIST:ATAKP
Atakey Patates Gida Sanayi Ve Ticaret As — Atakey Patates Gıda Sanayi ve Ticaret A.Ş. — Q1 2024 Earnings Presentation
19 slides from Atakey Patates Gida Sanayi Ve Ticaret As's earnings presentation, 2024
Slide 1: 2024 Q1 Business Results Key Highlights
2024 Q1 Business Results Key Highlights 1
Slide 2: Disclaimer
Disclaimer This presentation includes forward-looking statements, including, but not limited to, statements regarding ATAKey's plans, objectives, expectations, and intentions, and other statements that are not historical facts. Forward-looking statements can generally be identified by the use of wor
Slide 3: Q1 2024 Overview: Real Growth according to IAS 29
Maintaining Leader Position Across The Board Q1 2024 Overview: Real Growth according to IAS 29 with Solid Financial & Operational Results Q1 Revenues Q1 Operational Profit* Q1 EBITDA ₺ 840 +32% ₺ 173 +107% ₺ 134 +6% TRYm YoY Growth TRYm YoY Growth TRYm YoY Growth Q1 Production Q1 Sales Q1 Exports 19
Slide 4: Q1 2024 Operational Achievements: Continued Robust Operational Model
Q1 2024 Operational Achievements: Continued Robust Operational Model Translating to Strong Financial Results Agricultural Journey 2024 New Product Line Investment Higher margin product line investment Under Contract Farming Continues initiated in 2024 Q1 Continuing cultivation on 3,768 decares of la
Slide 5: Q1 2024 Operational Achievements -2
Q1 2024 Operational Achievements: Continued Robust Operational Performance Translating to Strong Financial Results -2 Export Activity Addressing Environmental Sustainability Efforts Comprehensively •Enhanced export capabilities to drive higher export sales, given the supportive regulatory updates •C
Slide 6: Well-Established Pipeline of Steady Customers and Revenue Stream
We Continue to Enjoy a well-Established Pipeline of Steady Customers and Consequent Revenue Stream Atakey Revenue Breakdown Serving over 3000 QSR global locations Q1 2024 exclusively TFI Group Export TAB Gida 36% 45% 19% 3rd Party Vertical BK Ecosystem China AtaKey Atakey Revenue Breakdown Ekur FY 2
Slide 7: Successfully Generating Real Growth Through Diversified Sales Channels
Successfully Generating Real Growth Through Diversified Sales Channels Sale Breakdown 2024 Forecast Sales Breakdown (%) (000’ Tonnes) (000’ Tonnes) +30% 7% 12% 15% 14% 16 17 17% 30% 78 18% 18% 2 13 5 28% 1 3 32 19% 2 3 76% 68% 71% 11 10 9 57% 51% 46 Sales Sales Sales Q1 Q4 Q1 2022 2023 2023 Q1 2023
Slide 8: Unlocking Export Opportunities
Unlocking Export Opportunities Continuing Growth Period. Expanded Exports (Thousand Ton) exports to Brazil, South Korea, Bulgaria, N. Cyprus and N. Macedonia (+)* 23 Covid -19 Effect (-) Regulatory 13 13 Listed Products 11 Update (-) 9 9 5 2018 2019 2020 2021 2022 2023 2024 Q1 *Countries to which ex
Slide 9: Financial Results Overview
Financial Results Overview 9
Slide 10: Q1 2024 Solid Financial Results in a Snapshot
Q1 2024 Solid Financial Results in a Snapshot Revenue Operational Profit* EBITDA Net Profit +32% With IAS 29 +107% 5 +6.4% 840 173 134 2023 Q1 2024 Q1 634 -24 84 + 29 126 M TL 2023 Q1 2024 Q1 2023 Q1 2024 Q1 2023 Q1 2024 Q1 Without IAS 29 +125% +199% +103% +593% 252 294 792 309 124 352 103 42 2023 Q
Slide 11: Solid Performance Based on IAS 29 Inflation Accounting
Solid Performance Based on IAS 29 - Inflation Accounting 2024 Q1 2023 Q1 YoY Growth % Revenue ₺ 840 M ₺ 634 M 32% Operational ₺ 173 M ₺ 84 M 107% Profit Operational 21% 13% 8pp Profit % EBITDA ₺ 134 M ₺ 126 M 6% EBITDA % 16% 20% 4pp Net Profit ₺ 5M ₺ -24 M +29 M TL Net Profit % 1% -4% 5pp 11
Slide 12: Continuing High Performance Without IAS 29 Inflation Accounting
Continuing High Performance Without IAS 29* Inflation Accounting 2024 Q1 2023 Q1 YoY Growth % 2024 Q1 LTM LTM** Revenue ₺ 792 M ₺ 352 M 125% YoY ₺ 2,438 M 22% LTM Operational ₺ 309 M ₺ 103 M 199% YoY ₺ 1,005 M 26% LTM Profit Operational 39% 29% 10pp YoY 41% 1 pp Profit % EBITDA ₺ 252 M ₺ 124 M 103%
Slide 13: Impact of IAS 29 Inflation Accounting on Q1 2024 Net Profit
Impact of IAS 29 Inflation Accounting on Q1 2024 Net Profit Non-Monetary Impact -136 294 -70 -82 5 13 * Figures Without IAS 29 are provided for historical comparison purpose only
Slide 14: Strong Cash Position: Sustainable Cash Generation Capability
Strong Cash Position: Sustainable Cash Generation Capability Generated Cash From Operations Cash Flow Summary Million TL 2023 YE Cash 1.008 cash expenses COGS + G&A Generated Generated Cash from Revenue +77 Cash in Q1 Q1 2024 Operation Decrease in 2024 Inventory Financial net income +47 Short Term D
Slide 15: Near to Zero Debt and Effective NWC Management
Near to Zero Debt and Effective NWC Management (With IAS 29) Net Debt excl. IPO Fund 900 768 1.60 800 CAPEX and CAPEX/Revenue 700 1.25 1.40 1.20 600 1.00 500 361 400 332 0.80 Net Debt 80 5.0% 300excl. IPO Fund 0.57 0.60 0.5 200 (M TRY ) 0.40 70 4.0% 100 Net Debt/EBITDA 0.20 Multiple 60 0 - 2.6% 2022
Slide 16: P&L Summary
P&L Summary With IAS 29 Without IAS 29 1 January - 1 January - 1 January - 1 January - Million (TL) 31 March 2024 31 March 2023 31 March 2024 31 March 2023 Revenue 840 634 792 352 Cost of Sales (-) (719) (507) (535) (226) Gross Profit 121 127 257 126 General and administrative Expenses (-) (33) (23)
Slide 17: Balance Sheet
Balance Sheet With IAS 29 Without IAS 29 1 January - 1 January - 1 January - 1 January - Million (TL) 31 March 2024 31 March 2023 31 March 2024 31 March 2023 ASSETS Cash and Cash Equivalents 595 1,008 595 876 Trade receivables 484 225 484 196 Other receivables 2 2 2 2 Inventory 846 1,206 716 1,048 P
Slide 18: Balance Sheet
Balance Sheet With IAS 29 Without IAS 29 1 January - 1 January - 1 January - 1 January - Million (TL) 31 March 2024 31 March 2023 31 March 2024 31 March 2023 LIABILITIES Short term borrowings - 428 - 372 Short tem portion of long term financial borrowings 311 198 311 172 Payables from short-term ren
Slide 19: For further detail please contact: yatirimciiliskileri@atakey.com.tr
For further detail please contact: yatirimciiliskileri@atakey.com.tr 19
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