Slide 1: Koç Holding 9M23 Earnings Presentation
KOÇ HOLDING 9M23 EARNINGS PRESENTATION 26 OCTOBER 2023 9M23 Earnings Presentation
Slide 2: Agenda
Agenda Koç Holding Key Indicators Highlights on Main Sectors Historical NAV 2 9M23 Earnings Presentation
Slide 3: Agenda
Agenda Koç Holding Key Indicators Highlights on Main Sectors Historical NAV 3 9M23 Earnings Presentation
Slide 4: Focus on Sustainability and Resilience
Focus on Sustainability and Resilience Sectoral & Geographical Diversification Net Asset Value Breakdown by Sector1 International Revenues / Total Combined Revenues Auto 50% including FX linked (PC & CV Manufacturing) 29% 28% revenues of Tüpraş 30% Auto (Other) 14% Finance 15% Refining 19% Other ass
Slide 5: Focus on Sustainability and Resilience: Solid Liquidity
Focus on Sustainability and Resilience Solid Liquidity Enhanced Net Cash Bridge TL Million As of 31 December 2022: As of 30 September 2023: = USD 74mn = USD 632mn ⁴ Net cash including 7,010 4 Net cash including YKB AT1 as of 2022YE 1 17,311 YKB AT1 as of Sep’23 + USD 1.5bn -6,500 6,390 + USD 1.38bn
Slide 6: Key Metrics
Key Metrics⁴ Fundamentals Remain Intact on the Back of Prudent Management Strong Cash Position Solid Liquidity FX Position USD 632mn 1.3x +USD 561mn Solo Current Ratio Solo Net Cash on Combined Basis2 FX Position + USD 1.2bn Gross cash + USD 848mn Consolidated FX position TL 6% after natural hedge3
Slide 7: Agenda
Agenda Koç Holding Key Indicators Highlights on Main Sectors Historical NAV 7 9M23 Earnings Presentation
Slide 8: Energy
Energy Sequential Improvement in Net Refining Margin in 2023 Domestic Market Sales Volume Crack Margins 9M23 Highlights Million Tonnes USD/bbl, Monthly Cumulative Strong domestic demand y/y +9% +18% +30% +24% Growth 37.5 Above historic average crack margins 14.8 13.5 33.0 Wide differentials, against
Slide 9: Automotive
Automotive Stellar domestic market performance with gradual recovery in export markets Monthly Trend Sales Volume 9M23 Highlights Thousand Units Thousand Units Koç Total Turkey Exports Market Share 18% 54% 25% 26% 37% Strong domestic market Passenger Cars (Turkey) Light Commercial (Turkey) y/y Gradu
Slide 10: Consumer Durables
Consumer Durables Solid Revenue Growth, yet Higher Financial Expenses Reflected on Bottom Line 1 Sales Volumes Across Markets Monthly Trend " MillionKoç Units Million Units 9M23 Highlights Market Share 20% 68% 26% 30% 41% Robust Turkey revenues, with currency tailwinds for international y/y revenues
Slide 11: Finance
Finance Well Managed Revenue Performance with a Focus on Preserving Fundamentals TL Lending Growth Sector’s Loans & Deposits 9M23 Highlights 13 Weeks Annualized TL, USD Billion 105% Private State Sector 9M23 q/q ytd Core revenue generation and q/q spread expansion, despite Loans 10.7 7% 41% 85% incr
Slide 12: Group's 9M23 Financial Performance
Group’s 9M23 Financial Performance Robust y/y Performance at all Segments Financial Performance Consumer Energy Automotive Finance Other TOTAL TL Million Durables Combined Revenues1 591,029 404,497 173,301 210,714 61,098 1,440,639 Change (y/y) 12% 103% 59% 89% 63% 46% Segment Share in Total 41% 28%
Slide 13: Group's 3Q23 Financial Performance
Group’s 3Q23 Financial Performance Robust y/y Performance at all Segments Financial Performance Consumer Energy Automotive Finance Other TOTAL TL Million Durables Combined Revenues1 283,722 157,246 69,948 92,208 25,354 628,478 Change (y/y) 30% 86% 79% 93% 74% 56% Segment Share in Total 45% 25% 11% 1
Slide 14: Agenda
Agenda Koç Holding Key Indicators Highlights on Main Sectors Historical NAV 14 9M23 Earnings Presentation
Slide 15: Historical NAV Discount
Historical NAV Discount Unwarranted NAV Discount Given Strong Fundamentals Relative Share Performance of Koç Holding vs. Koç Group1 Effective Ownership Adjusted Mcap Changes of the Listed Portfolio Companies Rebased at 2022YE USD Million 120% 95% 18,944 100% 79% 80% 14,806 60% 51% Di scount to 40% 4
Slide 16: Q&A
Q&A 9M23 Earnings Presentation
Slide 17: Business Model Ensures Sustainability of Dividend Income
Focus on Sustainability and Resilience Business Model Ensures Sustainability of Dividend Income Dividend Income Dividend Payout1 TL Million Dividend TL Million 2020 2021 2022 2023 vs.2022 Tüpraş (inc. EYAŞ) - - - 6,155² n.m. Dividend 12% 16% 15% 6% Payout 16,029 Ford Otosan 421 1,382 2,536 1,933 ² -
Slide 18: Appendix - Consolidated Key Financial Figures
Appendix - Consolidated Key Financial Figures Consolidated Main Financial Indicators Consolidated Net Income TL Million TL Million 9M22 9M23 y/y + 1,683 73,675 + 9,724 Revenues 646,872 886,318 37% + 13,797 + 770 Gross Profit 151,298 235,551 56% Operating Profit 97,560 156,890 61% + 5,680 42,021 Prof
Slide 19: Appendix - 2023 Expectations of the Listed Group Companies
Appendix - 2023 Expectations of the Listed Group Companies TÜPRAŞ 2022A 2023E - Feb'23 2023E - Jul'23 2023E - Oct'23 TOFAŞ 2022A 2023E - Feb'23 2023E - Apr'23 2023E - Jul'23 2023E - Oct'23 TÜRKTRAKTÖR 2022A 2023E - Feb'23 2023E - Apr'23 2023E - Jul'23 2023E - Oct'23 Net Margin ($/bbl) 16.5 11.0-12.0
Slide 20: Appendix - Our ESG Journey
Appendix - Our ESG Journey We are committed to be carbon neutral by 2050 .The Koç Group Carbon Transition Roadmap: 11% reduction in 2022 vs. 2017 baseline year Sustainability Indicators 27% 49% One of the first signatories of Reduction in Scope 1 & 2 Reduction in Scope 1 & 2 UN Global Compact and U
Slide 21: Appendix - Shareholding Structures
Appendix - Shareholding Structures Koç Holding Koç Family: 63.8%1 Free Float: 26.6% Vehbi Koç Foundation: 7.3% Koç Pension Fund: 2% Share Buyback: 0.04% Consumer Energy Automotive Finance Other Durables Tüpraş Ford Otosan Tat Gıda EYAŞ: 46.4% Arçelik Yapı Kredi Bank KH: 39% KH: 41% KH: 20.22% KH: 44
Slide 22: Contact Koç Holding Investor Relations
Contact Koç Holding Investor Relations investorrelations@koc.com.tr Visit our website at: www.koc.com.tr/investor-relations Nursel Ilgen, CFA, Coordinator, Head of IR Investor Relations nurseli@koc.com.tr +90 216 531 0414 Cansev Atak, Manager Investor Relations canseva@koc.com.tr +90 216 531 0516 İs
Slide 23: Disclaimer
Disclaimer This presentation does contain forward-looking statements that reflect the Company management’s current views with respect to certain future events based on the base-case assumptions. Although it is believed that the expectations reflected in these statements are reasonable, they may be a