Konfrut Tarim A.s. · BIST:KNFRT
Konfrut Tarim A.s — Konfrut — Q1 2024 Earnings Presentation
24 slides from Konfrut Tarim A.s's earnings presentation, March 2024
Slide 1: Investor Presentation 2024-Q1 Financial Results
Konfrut Investor Presentation 2024-Q1 Financial Results KONFRUT INVESTOR PRESENTATION 2024-Q1
Slide 2: Contents
Contents • Highlights • Konfrut AG at a Glance • Market Dynamics • Konfrut AG Business Units • Operations • Post-Period Developments • Consolidated Financial Results • Stock Price Performance KONFRUT INVESTOR PRESENTATION 2024-Q1 2
Slide 3: Highlights
Highlights Sales • In 2024-Q1, Konfrut AG succeeded in diversifying its operations and Consolidated Financial Summary increasing volume in all business units in which it operates, YoY. for 2024-Q1 • Konfrut AG increased its agri sourcing supply volume by 60%, YoY. The company sold 68 thousand tons o
Slide 4: Konfrut AG at a Glance
Konfrut AG at a Glance Business Units In 2024-Q1; Agri Sourcing Supply Fresh Fruit & Vegetable Suppy Agri Soucing and Leading the Agricultural Transformation Services 68 thousand 60% 1,234 tons 78% tons Increase Increase Turkey's largestindustrial fruit buyer Transported Agri Sorucing Products Numbe
Slide 5: Market Dynamics
Market Dynamics Food Prices Globally • According to the Food and Agriculture Organization of the United Nations (FAO), global food prices ended Food Price Index, World (Annually) their 7-month decline and rose in March 2024. The (2014-2016=100) World Food Price Index rose by 1.1% in March 146.0 144.
Slide 6: Market Dynamics: Production and Cost in Turkey
Market Dynamics 2021 2022 2023 2024 Production and Cost in Turkey 160 September 2022 138.2% 140 120 100 80 December 2021 March 2024 45.6% 49.9% 60 January 2021 40 18.5% Agricultural Input Price Index December 2023 20 41.4% Annual Change Rate (%), March 2024 0 • Agricultural Input Price Index (Agri-G
Slide 7: Market Dynamics: Production in Turkey
Market Dynamics Production in Turkey 2021 2022 2023 Production Data 13.0 13.1 13.3 With Selected Fruit and Vegetable Groups Turkey produced a total of 137 million tons of agricultural products in 2023. According to forecasts Million tons released by TurkStat, • Turkey's agricultural production in 20
Slide 8: Market Dynamics: Fresh Fruit and Vegetable Exportation
Market Dynamics Fresh Fruit and Vegetable Exportation Fresh Fruits Volume Basis: 213 thousand tons Fresh Fruit and Vegetable Exportation Citrus 788 from Turkey thousand tons Fresh Vegetables 380 thousand tons • In 2024-Q1 fresh fruit and vegetable exports increased by 7% in volume basis compared to
Slide 9: Konfrut AG Business Units
Konfrut AG Business Units Agri Sourcing Agri Hauling Logistics Green Energy Agri Input Products Transportation Pomace & Fertilizer Agri Trading Warehousing Packaging KONFRUT INVESTOR PRESENTATION 2024-Q1 9
Slide 10: Operations: Agri Sourcing Business Unit
Operations Agri Sourcing Business Unit in 2024-Q1 Fresh Fruit and Vegetable Export Breakdown (Volume Basis) Agri Sourcing Supply 40 tons • In 2024-Q1, Konfrut AG supplied 67,673 tons of agri sourcing. 124 tons • Tea fiber sales amounted to 3K tons. • Fresh fruit and vegetables sales reached 1,234 Ap
Slide 11: Operations: Logistics Business Unit
Operations Logistics Business Unit in 2024-Q1 Distribution of Hauling Service Volume Basis 3.5 925 tons thousand tons Storage and Logistics Operations • Agricultural raw material and industrial product transportation, carried out under the Storage and Logistics business unit, grew by 119% in the 75.
Slide 12: Operations: Industry Business Unit
Operations Industry Business Unit in 2024-Q1 • Efforts are underway to expand the use of technology in every process of agricultural production. In 2024-Q1, digital agricultural devices were used in tomato and topinambur Digital Agriculture crops. During this period, 20 devices were installed. • In
Slide 13: Post-Period Developments
Post-Period Developments Continuing the Transformation Journey with Concrete Steps from a One-Plant Company to a New Generation Agricultural Supply Chain Company. Sale of Konfrut Gıda Denizli Factory 50% Partnership of Konfrut AG in Raz Gıda • On April 19, 2024, an asset transfer agreement was signe
Slide 14: Consolidated Financial Results 2024-Q1
Consolidated Financial Results 2024-Q1 KONFRUT INVESTOR PRESENTATION 2024-Q1
Slide 15: Net Sales Improvement
Net Sales Improvement Net Sales (Thosand Tons) +3% Growth Continues, Led by Agricultural Operations. • In 2024-Q1, despite the 68% growth in Konfrut AG's agricultural 426 413 raw material supply volume, YoY, 68% of the agricultural raw materials sold in the first quarter were realized to Denizli Pla
Slide 16: Profitability
Profitability • The introduction of inflation accounting in financial reporting resulted in a consolidated first quarter gross profit of TL 27.9 million at the fruit and vegetable processing unit in Akkent, Denizli, due to increased cost of goods sold as a result of the valuation of products with lo
Slide 17: Profitability: EBITDA and Net Profit
Profitability 160.0 21.0% 20.4% EBITDA and EBITDA Margin (Million TL) 140.0 20.5% 80.0 8.2% 10.0% 120.0 +138% 20.0% 8.0% 100.0 148.2 60.0 66.7 19.5% 6.0% 80.0 18.6% 19.0% 40.0 60.0 4.0% 18.5% 40.0 68.1 TAS 29 Including 20.0 2.0% 20.0 18.0% TAS 29 Except Inflation Inflation Accounting 0.0 0.0% 0.0 17
Slide 18: Total Equity and Net Financial Debt
Total Equity and Net Financial Debt Total Equity (Million TL) -4% 1,500.0 1,279.4 1,300.0 1,233.2 +19% 587.1 1,100.0 492.1 900.0 TAS 29 Except Inflation TAS 29 Including 700.0 Accounting Inflation Accounting 500.0 300.0 31.12.2023 31.03.2024 31.12.2023 31.03.2024 Net Financial Debt (Million TL) 240.
Slide 19: Investments and Liabilities
Investments and Liabilities Investment Expenditures Distribution • In 2024-Q1, consolidated net financial indebtedness decreased by 255K TL 174K TL 23% compared to 2023 year-end and lower financial indebtedness led to an improvement in financing expenses. (TAS 29 Including Inflation Accounting) Fina
Slide 20: TAS 29 Comparative Summary Income Statement
TAS 29 Comparative Summary Income Statement (Million TL) TAS 29 Including Inflation Accounting TAS 29 Exluding Inflation Accounting 2023-Q1 2024-Q1 Change Change (%) 2023-Q1 2024-Q1 Change Change (%) Net Sales 810.5 758.7 (51.7) -6.4% 365.4 724.9 359.5 98.4% Cost of Sales (714.8) (730.8) (16.0) 2.2%
Slide 21: TAS 29 Comparative Summary Balance Sheet
TAS 29 Comparative Summary Balance Sheet (Million TL) TAS 29 Including Inflation Accounting TAS 29 Exluding Inflation Accounting 31.12.2023 31.03.2024 31.12.2023 31.03.2024 Current Liabilities 2,293.5 2,347.8 1,723.4 1,776.6 Cash and Cash Equivalents 38.0 32.1 33.0 32.1 Trade Receivables 496.3 468.4
Slide 22: Stock Performance
Stock Performance Konfrut Stock Price Developments Public Offering Date 10.06.1996 12000 14 Issued Capital TL 264,000,000 11000 13 Ticker Symbol KNFRT 10000 12 Free Float Rate 22.38% 9000 11 8000 10 Stock Price TL (March 31, 2023 - March 31, 2024) 7.05 - 10.55 7.05 10.55 9 7000 Market Value TL 2,785
Slide 23: Legal Disclaimer
Legal Disclaimer Information about Konfrut Gıda Sanayi ve Ticaret A.Ş. (Konfrut Gıda) and its 100% subsidiary Konfrut AG Tarım A.Ş. (Konfrut AG), the financial statements’ analysis and current views on possible future events are included in this presentation. Although, it is considered that the info
Slide 24: Investor Relations Department
INVESTOR RELATIONS DEPARTMENT Sinan Yiğit Yakut – Investor Relations Director Cemre Ekici Bayram – Investor Relations Manager Phone: +90 216 545 68 68 E-mail: yatirimci@konfrutag.com.tr Investor Relations Web Site KONFRUT INVESTOR PRESENTATION 2024-Q1