Kordsa Teknik Tekstil A.s. · BIST:KORDS
Kordsa Teknik Tekstil A.s — Q3 2025 Earnings Presentation
25 slides from Kordsa Teknik Tekstil A.s's earnings presentation, October 2025
Slide 1: Investor Presentation Oct'25
Investor Presentation Oct’25 Kordsa.com
Slide 2: Highly successful reinforcer growing into an advanced materials company
Highly successful reinforcer growing into an advanced materials company 4 7 13 4,250+ 2 3 CONTINENTS COUNTRIES FACITILITIES EMPLOYEES R&D CENTERS TECHNICAL CENTERS
Slide 3: Successfully Building the Future of Reinforcement
Successfully Building the Future of Reinforcement Being a global Growth in Transformation to Advanced TCF player in independent Growth in Regions & Composite & Material Company Growth local basis player Value Added Products Construction Digital Kordsa 5.0 with JV 1973-1985 1986-2000 2001-2005 2006-2
Slide 4: Why invest in Kordsa
Why invest in Kordsa Strong hedge position to country risks Growth in composite reinforcement market & through 100% hard-currency revenue evolving to advanced materials company Strong cash Strong generation Protected customer base ESG through Global footprint position 4
Slide 5: Composite Reinforcement Tire Reinforcement
Reinforcing 1 out of every 3 automobile tires as well as 2 out of every 3 aircraft tires globally Global Leading Position Trusted Partner Tire Reinforcement #1 TireCord Fabric Producer Longstanding Strategic Partner Status with all Global Tire Players Agile production capabilities / demand fulfillme
Slide 6: Strong hedge position to country risks through 100% hard-currency revenue
Strong hedge position to country risks through 100% hard-currency revenue EUR-Basis Domestic 6% Natural Hedge to 22% FX/Türkiye Position Shipment Fx-Based -Based Revenue Revenue USD-Basis 78% International 94% 03 6
Slide 7: Operations / Financials
OPERATIONS FINANCIALS 7
Slide 8: We reinforce mobility through our tire reinforcement products
We reinforce mobility through our tire reinforcement products GROOVE 01 A tire is a highly complex composite with approx. 40 components RIB working under dynamic conditions enduring heat and motion 02 By weight: 350-450gr per tire CAP PLIES 03 By value => Approx 7-10% cost of a tire is Tire Cord Fab
Slide 9: We reinforce safety through our composite technologies
We reinforce safety through our composite technologies COMPOSITE PARTS Composites use in aerospace & automotive is increasing, due to improved material properties and weight savings over conventional materials «Lightweighting» is a major theme, driven by emission regulations as well as fuel- efficie
Slide 10: China continues to grow in the value chain and keep mature markets under pressure
10 China continues to grow in the value chain and keep mature markets under pressure Global Automotive Market excl. China (million Global Tire Market excl. China (million units) units) 61 63 56 62 60 59 3.5 1,130 1,033 1,042 1,055 1,072 1,089 3.0 3.1 3.3 2.9 2.8 62 60 61 15.6 2,6% 15.1 57 56 58 15.4
Slide 11: Aerospace recovery continues, but supply chain and strikes weigh on deliveries
11 Aerospace recovery continues, but supply chain and strikes weigh on deliveries Composite Prepreg Market (M$) 6,695 4,280 4,973 3,590 3,686 4,601 5,159 5,549 5,962 6,377 5,0% 7,0% 1,541 7,4% 1,508 2,7% 7,6% 1,463 301 24,8% 12,1% 1,425 296 16,2% 1,184 -27,8% 1,370 292 1,115 2,7% 1,578 286 303 286 3
Slide 12: Our aim is to build balanced portfolio between tire and composite reinforcement
Our aim is to build balanced portfolio between tire and composite reinforcement Sep, 25 Revenue Split Sep, 24 Revenue Split Other Other Asia 1% 3% 14% Asia Composite Composite 25% 22% 21% EMEA EMEA 39% 37% SA SA By By 10% By By 11% Region Product Region Product TCF & Yarn NA NA 76% TCF & Yarn 31% 36
Slide 13: Strong financial performance in evolving advanced materials company
Strong financial performance in evolving advanced materials company FINANCIALS OPERATIONS 13
Slide 14: China continues to grow in the value chain
China continues to grow in the value chain Revenue (M$) REVENUES Tire : PT Indo Kordsa Flood Effect Preservation of market position, excluding the effects of the flood disaster Gradual resumption of production following flooding in Indonesia 1,154 906 888 1,003 929 Composite : A notable increase in
Slide 15: Remarkable contribution from Composite segment and cost optimization projects offsets Indonesia flood
Remarkable contribution from Composite segment and cost optimization projects offsets adverse impact of Indonesia Flood Effects EBITDA Bridge (MUSD) Contribution: Sales – Variable Costs * Tire Contribution including all other businesses except composite ** YTD Effect : 18.6 M$
Slide 16: Focus on improved working capital and net debt level
16 Focus on improved working capital and net debt level Trade Working Capital (M$) Net Debt / Adjusted EBITDA* 6.9 -99 M$ 6.5 5.4 5.7 -19 M$ 5.1 246 246 326 227 282 3Q'24 4Q'24 1Q'25 2Q'25 3Q'25 3Q'24 4Q'24** 1Q'25** 2Q'25** 3Q'25** Amount Avg. Int. Rates Net Debt*** (M$) M$ 31.12.2024 30.09.2025 %
Slide 17: Sustainability Approach
SUSTAINABILITY APPROACH Our sustainability strategy has been created within the framework of our material issues and is in harmony with our business strategy. Our enablers through our sustainability journey are Technology and Digitalization. Passion for Responsibility for Innovation for Business Exc
Slide 18: Ambition: emissions reduction targets across scopes 1, 2 & 3
LOW CARBON TRANSITION PLAN Ambition: emissions reduction targets across scopes 1, 2 & 3 Kordsa to be a leader in sustainability and realized approved science-based greenhouse gas Reduction Focus Areas: Emission Reduction Targets: Scope 3: Scope 1 & 2: Scope 1 & 2 Renewable electricity procurement Al
Slide 19: Why invest in Kordsa
Why invest in Kordsa Strong hedge position to country risks Growth in composite reinforcement market & through 100% hard-currency revenue evolving to advanced materials company Strong cash Strong generation Protected customer base ESG through Global footprint position 19
Slide 20: Thank You
Thank You THE REINFORCER
Slide 21: Kordsa fabrics and prepregs offer cutting edge solutions for aerospace & automotive markets
Kordsa fabrics and prepregs offer cutting edge solutions for aerospace&automotive markets INTERMEDIATES RAW MATERIALS Weaving Prepreg Fibers: Value added products comprised of The sole supplier of Carbon Fiber - ceramic, carbon, aramid, glass for B787 - Dreamliner Aramide various industries such as
Slide 22: Kordsa fabrics are developed for specific requirements and custom made
Kordsa fabrics are developed for spesific requirements and custom made MANUFACTURING PROCESS RAW Polymerisation NY66 and Twisting Greige Chemical Dipped and Yarn PET HMLS and Fabric Treatment Fabric MATERIALS Spinning Yarns Weaving (dipping) Oil derivative Integrated production Chemicals and Polymer
Slide 23: Excluding flood impacts, outstanding financial performance of Composites
Excluding flood impacts, outstanding financial performance of Composites and Efficient Portfolio and Cost Management in Tire Segment enable better performance than the last year USD Financials (MUSD) 3Q'24 3Q’25 Δ 4Q’24** 1Q'25 2Q'25 3Q'25 Sales 235 198 -15.9% 225 217 197 198 Gross Profit 32 29 -12.
Slide 24: Balance Sheet
Balance Sheet TL Financials (MTL) USD Financials (MUSD) YE 2024 Sep 2025 Δ YE 2024 Sep 2025 Δ Cash and Cash Equivalents 4,257 4,765 507 121 115 -6 Account Receivables 5,690 5,631 -59 161 136 -26 Inventories 7,474 7,772 298 212 187 -25 Other Current Assets 1,205 2,380 1,133 34 56 22 PPE & Intangibles
Slide 25: Hard Currency Revenue
25 Hard Currency Revenue Other Depreciation FX exposure 4% 3% Distribution & 10% 5% 2% 22% Packaging 6% 4% 14% Costs Energy 3Q’25 Revenue (3Q’25) Expenses 7% Expenses by (3Q’25) Nature 55% Raw Materials 72% Personel Expenses 78% 18% US $ TL EUR US $ EUR IDR BRL Baht • Hard currency revenues • Abilit
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