23 slides from Atakey Patates Gida Sanayi Ve Ticaret As's earnings presentation, Sep 3, 2024
Slide 1: 2Q24 & 1H24 Results Announcement Presentation
ATAKEY 2Q24 & 1H24 Results Announcement Presentation 1H 2024 September 3, 2024 1
Slide 2: Solid Financial Performance for 2Q24 & 1H24 – After IAS29
Solid Financial Performance for 2Q24 &1H24 – After IAS29 Revenues Operational Profit * Million ₺ 18% Million ₺ -18% 149 122 1,709 2Q23 2Q24 1,447 240 29% 310 1H23 1H24 5% 798 759 Net Profit 2Q 2024 1H 2024 Million ₺ 38 44 YoY% 4% 319% 2Q23 1H23 2Q24 1H24 * Operational profit is the profit generated
Slide 3: Solid Financial Performance for 2Q24 & 1H24 – Before IAS29
Solid Financial Performance for 2Q24 &1H24 – Before IAS29 Revenues Operational Profit * Million ₺ 101% Million ₺ 143 92% 274 1,562 2Q23 2Q24 137% 582 81% 246 1H23 1H24 778 770 Net Profit 427 2Q 2024 1H 2024 Million ₺ 269 562 YoY% 277% 398% 2Q23 1H23 2Q24 1H24 * Operational profit is the profit gener
Slide 4: Strong Operational Performance in 1H24
Strong Operational Performance in 1H24 32 K tonnes Production K Tonnes 1H 2024 Production 27% 28 YoY 28 K tonnes 16 73% YoY 10 6 2Q 2024 Production To t a l S a l e s 10 K tonnes Vo l u m e 2Q 1H 55% YoY in 1H24 2023 2024 Total Sales Volume K Tonnes Sales Volume in Channels_K tonnes 19 1 -2% 214% 16
Slide 5: Strengthening Leadership in Frozen Potato Production and Securing Future Supply Chain
Strengthening Leadership in Frozen Potato Production and Securing Future Supply Chain Excellent Market Position Production Harvest • Continue to serve efficiently as the exclusive • Maintaining our position as Türkiye’s • The harvesting process of potatoes is supplier to both domestic and internatio
Slide 6: Expanding Market Reach: Strong Performance in 3rd Party Sales, Export Growth and Capacity Expansion
Expanding Market Reach: Strong Performance in 3rd Party Sales, Export Growth Potential and Capacity Expansion Sales Growth New Production Line Higher margin product line investment underway, on budget • On track with sales plan and aligned with market demands Max 1K ton Breaded Onion Rings • Acceler
Slide 7: Positioned For Continued Profitable Growth
Positioned For Continued Profitable Growth QSR Türkiye QSR China Sales Breakdown BK Sales channels TAB Gıda in 4 groups China Exports ** Retailers ** Other 3rd parties 6% 7% 12% 16% Serving over +3,200* QSR global locations 7% 1H23 1H24 exclusively 60% 17% 1,710 QS Restaurants 1,554 QS Restaurants 7
Slide 8: Successfully Generating Real Growth Through Diversified Sales Channels
Successfully Generating Real Growth Through Diversified Sales Channels Sales Volume Breakdown_K tonnes Distribution of Sales Volume Breakdown % Total Sales Volume Total Sales Volume 26 35 32 13 13 16 16 +27% 7% 7% 6% 7 28% 6 17% 19% 28% 2 6 8 5 19% 76% 73% 22 67% Exports 19 19 52% 3rd Party TAB Gıda
Slide 9: Comprehensive Sustainability Efforts
Comprehensive Sustainability Efforts A commitment to Supplier create science-based Leadership on targets to reduce Climate Transition carbon footprint was Working on Sustainable (S-LoCT) üyesidir made to SBTi Agriculture and Biodiversity initiatives Sıfır Atık Yönetim Sistemi kuruldu ve temel seviye
Slide 10: 1H 2024 Financial Results Overview
1H 2024 Financial Results Overview 10
Slide 11: 2Q24 Solid Financial Results in a Snapshot
2Q24 Solid Financial Results in a Snapshot (Million ₺) Revenues Operational Profit EBITDA Net Profit 5% -18% -36% 4% 798 36 38 After IAS 29 759 149 181 122 116 2Q23 2Q24 2Q23 2Q24 2Q23 2Q24 2Q23 2Q24 81% 92% 44% 277% 274 Before IAS 29 234 269 770 163 427 143 71 2Q23 2Q24 2Q23 2Q24 2Q23 2Q24 2Q23 2Q2
Slide 12: 1H24 Solid Financial Results in a Snapshot
1H24 Solid Financial Results in a Snapshot (Million ₺) Revenues Operational Profit EBITDA Net Profit 18% -16% 319% 29% 1,709 310 318 44 After IAS 29 1,447 240 266 10 1H23 1H24 1H23 1H24 1H23 1H24 1H23 1H24 101% 137% 69% 398% 487 562 Before IAS 29 1,562 582 288 778 246 113 1H23 1H24 1H23 1H24 1H23 1H
Slide 13: Solid Performance in 2Q24 and 1H24 After IAS 29 Inflation Accounting
Solid Performance in 2Q24 and 1H24 After IAS 29-Inflation Accounting 2Q24 2Q23 YoY% 1H24 1H23 YoY% YoY % Million ₺ Revenues 798 759 5% 1,709 1,447 18% Operational Profit 122 149 -18% 310 240 29% Operational Profit 15% 20% -4.4pp 18% 17% 1.5pp margin % EBITDA 116 181 -36% 266 318 -16% EBITDA margin %
Slide 14: Solid Performance in 2Q24 and 1H24 Before IAS 29 Inflation Accounting
Solid Performance in 2Q24 and 1H24 Before IAS 29 - Inflation Accounting 2Q24 2Q23 YoY% 1H24 1H23 YoY% Million ₺ Revenues 770 427 81% 1,562 778 101% Operational Profit 274 143 92% 582 246 137% Operational Profit 35.5% 33.5% 2pp 37.3% 31.6% 6pp margin % EBITDA 234 163 44% 487 288 69% EBITDA margin % 3
Slide 15: Impact of IAS Inflation Accounting on 1H24 Net Profit
Impact of IAS 29 Inflation Accounting on 1H24 Net Profit Million ₺ Non-Monetary Impact 15
Slide 16: Strong Cash Position: Sustainable Cash Generation – After IAS29
Strong Cash Position: Sustainable Cash Generation Capabiliy – After IAS29 Million ₺ Generated Cash From Operations Summary of Cash Flow Million ₺ 2023 Year End Cash 1,092 cash expense COGS + G&A Generated Cash from Operations in 1H24 232 Revenues Increase in Decrease Receivables in Financial Net Inc
Slide 17: Near to Zero Debt and Effective NWC Management – After IAS29
Near to Zero Debt and Effective NWC Management – After IAS29 CAPEX Million ₺ Net Debt (excl. IPO Fund) Million ₺ CAPEX / Revenues % Net Debt / LTM EBITDA 90 2.6% 3.0% 80 2.5% 1,200 1.60 70 60 2.0% 1.43 50 1.3% 1.3% 1.5% 1.40 40 83 1,000 30 1.0% 20 42 45 0.5% 1.20 10 800 0 0.0% 1H23 2023 1H24 1.00 60
Slide 18: On Track with IPO Valuation Forecasts / FTR for YE 2024
On Track with IPO Valuation Forecasts / FTR for YE 2024 YE 2024 Target Reached Forecasts * by 1H2024 % Revenue 3,452 M ₺ ✓ 45% EBITDA 1,021 M ₺ ✓ 48% EBITDA Margin 30% ✓ 31% * Based on IPO Valuation Forecasts as of listing which is without IAS 29 18
Slide 19: Income Statement Summary for Jan – June 2024
Income Statement Summary for 1 Jan – 30 June 2024 After IAS29 Before IAS29 Million ₺ 1H24 1H23 YoY % 1H24 1H23 YoY % Revenue 1,709 1,447 18% 1,562 778 101% Cost of sales (-) (1,446) (1,123) 29% (1,044) (488) 114% Gross Profit 264 324 -19% 518 291 78% General and administrative expenses (-) (60) (46)
Slide 20: Balance Sheet Summary as of June 2024
Balance Sheet Summary as of 30 June 2024 After IAS29 Before IAS29 Million ₺ 1H24 2023 YoD % 1H24 2023 YoD % ASSETS Current Assets Cash and cash equivalents 605 1,092 -45% 605 876 -31% Trade receivables 608 244 149% 608 196 211% Other receivables 1.6 2.0 -20% 2 2 0% Inventories 725 1,308 -45% 646 936
Slide 21: Balance Sheet Summary as of June 2024 (Liabilities)
Balance Sheet Summary as of 30 June 2024 After IAS29 Before IAS29 Million ₺ 1H24 2023 YoD % 1H24 2023 YoD % LIBILITIES Short-Term Liabilities Short-term borrowings - 464 -100% - 372 -100% Short-term portion of long-term financial borrowings 222 215 3% 222 172 29% Payables from short-term rental tran
Slide 22: 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 23: yatirimciiliskileri@atakey.com.tr www.atakey.com.tr
yatirimciiliskileri@atakey.com.tr www.atakey.com.tr