Slide 1: Investor Presentation March 2025
Investor Presentation March 2025 Investor Relations Sensitivity: Internal / Non-Personal Data
Slide 2: Agenda
Agenda ▪ Company Overview ▪ Investment Highlights ▪ FY24 Highlights ▪ Guidance ▪ Sustainability ▪ Appendix Investor Presentation Sensitivity: Internal / Non-Personal Data
Slide 3: Company Overview
Company Overview Investor Presentation Sensitivity: Internal / Non-Personal Data
Slide 4: Arçelik: Such a great history
Arçelik Such a great history... • Establishing a new JV with Hitachi* (2021) • Acquisition of Whirlpool Türkiye Plants** (2021) • Issuance of EUR350mn Greenbond • Acquisition of Defy in South • Acquisition of Whirlpool’s Russian assets Africa (2011) (2022) • Beko starts marketing & sales • Establish
Slide 5: Arçelik key facts
122 57 subsidiaries countries 45 production 22 Brands* 30 R&D and design facilities center & offices 50K+ employees ≈ 11 BILLION EUR consolidated revenues As of 2024 year-end *Owned or used with a limited license Investor Presentation Sensitivity: Internal / Non-Personal Data
Slide 6: Production Network
Production Network 5% 7% 13% 2024 44% as % of Total Production Türkiye Capacity CIS & Eastern Europe Asia-Pacific 31% Western Europe Africa & Middle East 45 Manufacturing Facilities in13 Countries Investor Presentation Sensitivity: Internal / Non-Personal Data
Slide 7: Strong Global Footprint
Strong Global Footprint With strong partnerships and brands, we manage a diversified portfolio that reaches millions of households worldwide. *Licensee limited to certain jurisdictions Investor Investor Presentation Presentation Sensitivity: Internal / Non-Personal Data
Slide 8: A leading global household appliances company
Arçelik A leading global household appliances company with… Strong Ownership Structure Diversified Revenue Composition Leading Positions Founded in 1955, Arçelik has grown to become 57.24% Koç Group 2024 the largest white goods company in Europe! 19% Market leader in Türkiye. 24% 32% Market leader i
Slide 9: Investment Highlights
Investment Highlights Investor Presentation Sensitivity: Internal / Non-Personal Data
Slide 10: Investment Case
Investment Case Diversified Revenue Generation Serving customers in over 150 countries with a wide product range and enhanced brand portfolio including 22 brands. with a Wide Range of Products Lovemark in Türkiye as the leading white goods producer, number one player in Leading Positions in Key Mark
Slide 11: Diversified Revenue Generation with a Wide Range of Products
Diversified Revenue Generation with a Wide Range of Products Serving customers in over 150 countries with a wide product range including 22 brands Sales Breakdown Product Range 2024 Built-in & Freestanding Consumer Electronics Major Appliances ▪ TV’s ▪ Refrigerators ▪ Smart Phone’s Türkiye ▪ Noteboo
Slide 12: Leading Positions in Key Markets
Leading Positions in Key Markets Lovemark in Türkiye, number one player in Europe, leading positions in EM markets Premium brand in Türkiye, continuously a significant market leader and Lovemark for consecutive years. Market leader in Europe as the fastest growing white goods brand in the European m
Slide 13: Proven Track Record of Inorganic Growth
Proven Track Record of Inorganic Growth Geographical expansion backed by smart strategy 2002 Acquisitions of Elektrabregenz, Blomberg, Leisure, Flavel, Arctic 2007 Acquisition of Grundig 2011 Multimedia and Grundig Brand Acquisition of Defy in South Africa 2016 Acquisition of Dawlance 2018 in Pakist
Slide 14: Cost Competitiveness with Huge Production Network
Cost Competitiveness with Huge Production Network Expanding production base through acquisitions and greenfield investments Low-Cost Base 5% Most labor-intensive functions, including HQ, R&D and 7% production facilities located in low-cost countries. 13% 2024 44% Economies of Scale as % of Total Hug
Slide 15: Financial Strength & Ratings Above Türkiye Sovereign
Financial Strength & Ratings Above Türkiye Sovereign Solid revenue growth and sustainable margins 33,8% 33,0% 31,8% 32,0% 31,2% 31,7% 32,0% 138.873 30,5% 30,0% 29,5% 29,3% 27,6% 138.823 40.765 13,1% 20.789 289.675 10,4% 11,0% 10,8% 11,0% 10,4% 10,5% 10,1% 9,4% 8,9% 232.380 8,2% 93.151 14.103 5,3% 10
Slide 16: Financial Strength & Ratings Above Türkiye Sovereign
Financial Strength & Ratings Above Türkiye Sovereign Recognized diversification by rating agencies, ratings in-line with the Türkiye sovereign S&P Global Ratings Fitch Ratings BB- BB- BBB BBB Stable Negative Negative BBB- Investment Grade Threshold BBB- Investment Grade Threshold Negative Negative B
Slide 17: Leading R&D Capabilities & Sustainability Vision
Leading R&D Capabilities & Sustainability Vision Designing technologies that will improve the future We integrate rapidly developing technologies into our business model. We dream …and are taking concreate steps around the world toward our 2030 of a more goals to address the needs of the planet and
Slide 18: 2024 Highlights
2024 Highlights Investor Presentation Sensitivity: Internal / Non-Personal Data
Slide 19: Highlights
2024 Slowdown comes to an end in Europe, demand in Türkiye remains HIGHLIGHTS strong, APAC still struggles. TRY 428.5bn Consolidated revenues grew by 15.4% y/y in real terms with the contribution of Europe and MENA transactions. Revenue 27.6% Solid demand in Türkiye whereas international demand rema
Slide 20: Key Factors / Sales & Margins
Key Factors / Sales & Margins REVENUE GROWTH GROSS MARGIN ADJ. EBITDA MARGIN 15.4% 27.6% 5.3% Inorganic growth due to Europe & MENA Pricing pressure and intensified competition transactions Lower Gross Margin Flattish sales revenue in TR Unfavorable EUR/USD parity Growing OPEX after the transactions
Slide 21: Lower metal raw material prices whereas plastic prices remained higher
Lower metal raw material prices whereas plastic raw material prices remained higher on average Average Metal Prices Index - Market Average Plastic Prices Index - Market 2024 100 2024 157 4Q24 101 4Q24 149 3Q24 99 3Q24 158 2Q24 102 2Q24 167 1Q24 100 1Q24 155 2023 103 2023 147 4Q23 98 4Q23 146 Source:
Slide 22: Summary Financials
Summary Financials TRY mn 4Q24* 4Q23* y/y 3Q24* q/q 2024* 2023* y/y Revenue 108.290 90.630 19% 111.999 (3%) 428.548 371.203 15% Gross Profit 29.075 25.410 14% 29.571 (2%) 118.102 108.830 9% Operating Profit 490 2.353 (79%) 365 34% 5.747 16.771 (66%) Other Operating Inc./Exp. 5.702 38 14771% (802) (8
Slide 23: Higher leverage due to increasing net debt and weaker Adj. EBITDA
Higher leverage due to increasing net debt and weaker Adj. EBITDA Net Debt* & Leverage** Debt Currency & Rates Breakdown *** Currency Effective Interest Rate p.a. Original Currency (mn) TRY Equivalent (mn) EUR 5,6% 1.190 43.736 TRY 41,5% 26.772 26.772 3,80 4,00 USD 8,2% 311 10.955 BDT 12,5% 14.574 4
Slide 24: Key Performance Indicators
Key Performance Indicators Adj. EBITDA Margin Working Capital/Sales** 25,6% 21,0% 2023 Operating One-off 2024 2023 2024 GP Margin D&A Expenses* Adj. CAPEX/Sales*** Free Cash Flow 5,4% 4,7% -8.731 TRY mn -18.081 2023 2024 2023 2024 * Includes Administrative Expenses, Sales & Marketing Expenses, and R
Slide 25: Guidance
Guidance Investor Presentation Sensitivity: Internal / Non-Personal Data
Slide 26: 2024 Guidance v Actual Figures
2024 Guidance v Actual Figures Q1 Guidance* Q2 Guidance Q3 Guidance 2024 Actual Revenue Türkiye (in TRY) Flattish Flattish Flattish +0% International (in FX) ≈ +2% ≈ +50% ≈ +50% +43% EBITDA Margin ≈ 8% ≈ 6.5%** ≈ 5.8% - 6.0%** 5.3%** NWC/Sales < 25% ≈ 22% ≈ 20% 21.0%*** CAPEX ≈ EUR 300 mn ≈ EUR 350
Slide 27: 2025 Guidance
2025 Guidance 2025 Guidance Revenue Türkiye (in TRY) Flattish International (in FX) ≈ +15% EBITDA Margin* ≈ 6.5% NWC/Sales < 20% CAPEX ≈ EUR 300 mn * Operating Profit - One-off Transaction Expenses + D&A Sensitivity: Internal / Non-Personal Data
Slide 28: Sustainability
Sustainability Investor Presentation Sensitivity: Internal / Non-Personal Data
Slide 29: We design technologies that will improve the future
We design technologies that will improve the future We are determined to put our efforts into building a sustainable supply chain, developing a sustainable product range, improving the lives of people, and maintaining our leadership in sustainability In Touch With Our Planet In Touch With Human Need
Slide 30: Ambitious 2030 Targets
Ambitious 2030 Targets 50 MW 45% ISO 50001 $50M 100% Establish renewable Energy consumption Implement the Green electricity Additional investment energy systems per product in ISO 50001 Energy usage in global in renewable energy manufacturing Management Systems manufacturing and energy efficiency ac
Slide 31: Net zero emissions in our value chain by 2050
In Touch With Our Planet We are committed to achieving net zero emissions in our value chain by 2050 Net Zero Roadmap Net Zero Roadmap ▪ Base Year: 2022 ▪ Near Term Target: 2030 31.753.839,00 ▪ Long Term Target: 2050 ▪ Aligned with 1.5 degree-scenario 21.911.357,00 ▪ Invest in permanent carbon remov
Slide 32: Ambitious 2030 Targets
Ambitious 2030 Targets to meet the needs of society 450 M People* 400 M People* 4,700 Tons of Food Hero Brands** 15M People** Raise awareness Raise awareness Save food from Support the needs of Raise awareness on on healthy living on food waste being wasted local communities in climate change and Tü
Slide 33: Ambitious 2030 Targets for being a progressive global citizen
Ambitious 2030 Targets for being a progressive global citizen 35 hours 35% 32% ISO 50001 Training hours per Ratio of women Ratio of women in Ensure suppliers* employee in the total workforce top management exceeding 500 ToE obtain positions the ISO 50001 certificate 5000 90% Volume 100% ISO 14001 10
Slide 34: Green Financing
Green Financing Green Bond Green Loan Sustainability-Linked EUR 350 Million EUR 150 Million Financing Framework Arçelik has issued green bonds with a Arçelik has signed an eight-year EUR 150 Our Sustainability-Linked Financing nominal value of EUR 350 million and million loan agreement with the Euro
Slide 35: Our success is recognized: top performers in global indices
Our success is recognized: We are among the top performers in global indices. Included WEF Global Lighthouse Network with Washing By scoring 86 (out of 100) in the 2023 S&P Global Machine Plant in Ulmi, Romania in 2018 and Eskişehir Corporate Sustainability Assessment, Arçelik Refrigerator Plant in
Slide 36: Our success is recognized: top performers in global indices
Our success is recognized: We are among the top performers in global indices. Arçelik achieved 1st place in its sector Arçelik has obtained a score of 70/100, awarded a with 92/100 in Refinitiv 2022 ESG Gold EcoVadis Medal and placed in the top 5% of evaluation companies rated by EcoVadis Rated AAA
Slide 37: Our Partnerships
Our Partnerships: We support and guide the work of respected international and local organizations. Since 2021, we have been a member of WBCSD Arçelik became one of the 200+ companies that Support development of corporate finance and actively support the Council's workstreams. have signed the CEO Wa
Slide 38: Appendix: Beko Europe
Appendix Beko Europe Investor Presentation Sensitivity: Internal / Non-Personal Data
Slide 39: Beko Europe
Beko Europe Number one player in Europe market, with the launch of Beko Europe! ▪ Beko Europe is a leading home appliances business, dedicated to changing the lives of our customers through a wide range of innovative and sustainable household products and solutions. ▪ Newly formed Beko Europe’s 75%
Slide 40: Beko & Whirlpool Transactions
BEKO & WHIRLPOOL Europe TRANSACTIONS ▪ Arçelik's and Whirlpool’s production, sales, and marketing subsidiaries operating in Europe was On January 17, 2023*, Arçelik A.Ş. and transferred under a structure where Arçelik will control a 75% majority stake, Arçelik's wholly- Whirlpool signed an agreement
Slide 41: Beko Europe
Beko Europe Number one player in Europe, with the launch of Beko Europe! Transaction: Facilities: Subsidiaries: Beko Europe has transferred Whirlpool Europe’s Beko Europe owns 11 production facilities, of Beko Europe now includes 69 subsidiaries, of white goods production, sales and marketing which
Slide 42: Efficiency improvements to deliver long-term sustainable growth and profitability
Efficiency improvements to deliver long-term sustainable growth and profitability Ongoing and planned investments would help to create operational efficiency after the merger, through: ▪ optimizing processes, Investing in technology and AI tools to work in ▪ maximizing resource utilization, an agile
Slide 43: Contacts
Contacts Barış Alparslan Mine Şule Yazgan Delal Alver Sezer Ercan Chief Financial Officer Finance & Enterprise Risk Capital Markets Compliance Investor Relations (+90) 212 314 39 01 Executive Director Senior Lead Senior Lead (+90) 212 314 30 60 (+90) 212 314 39 56 (+90) 212 705 96 81 www.arcelikglob
Slide 44: Disclaimer
Disclaimer This presentation contains information and analysis on financial statements as well as forward-looking statements that reflect the Company management’s current views with respect to certain future events. Although it is believed that the information and analysis are correct and expectatio
Slide 45: Thank You!
Thank You! Investor Relations Sensitivity: Internal / Non-Personal Data