Kocaer Celik Sanayi Ve Ticaret As · BIST:KCAER
Kocaer Celik Sanayi Ve Ticaret As — Kocaer Steel — FY2025 Earnings Presentation
15 slides from Kocaer Celik Sanayi Ve Ticaret As's earnings presentation, Feb 26, 2026
Slide 1: 2025 Earnings Presentation
2025 Earnings Presentation 26 February 2026 Go Go Beyond Beyond Excellence Excellence 1
Slide 2: World Steel Industry
World Steel Industry Global Crude Steel Production (million tons) 1.960 1.889 1.888 1.883 1804 1,034 1,019 1,019 1,005 961 926 870 869 878 843 2021 2022 2023 2024 2025 World (ex-China) China Global crude steel production remains broadly flat. Source: Worldsteel/ Steelorbis 2
Slide 3: Turkish Steel Industry
Turkish Steel Industry Production (million tons) Exports (million tons) %3,3 40.4 38.1 19.8 35.1 36.9 33.7 %12,5 15.1 15.1 13.4 10.5 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 3.3% 12.5% Turkey’s Production Turkey’s Export Volume Growth in 2025 Volume Growth in 2025 3 Source: TSPA
Slide 4: Kocaer Steel Sales Volume
Kocaer Steel Sales Volume Total Sales Volume (tons) 682,873 561,458 580,443 533,238 497,057 Total sales volume increased 17.6% year-on-year. This strong volume growth was driven by both the diversification of our product portfolio and our geographically balanced sales. 2021 2022 2023 2024 2025 17.6%
Slide 5: Sales Channels
Sales Channels We have a diverse portfolio of over Domestic Sales 2,000 clients from different sectors • Direct Sales and regions around the world. Exports • Direct Sales • Through Representatives USA Italy Egypt Colombia Morocco • Distribution Channels 5
Slide 6: Geographic Breakdown of Sales
Geographic Breakdown of Sales Other United Kingdom 3% Export-Registered 5% 4% Domestic America 18% 26% Split of Exports In 2025 MENA 51% Europe 15% Exports 78% FX-denominated sales (domestic, international, and export-registered) comprise 90–95% of total sales. Operating across 140 export markets, o
Slide 7: Distribution of Sales Volume by Product Category
Distribution of Sales Volume by Product Category 2021 2022 2023 2024 2025 Value-Added Steel The share of value-added steel 33.1% 42.0% 39.4% 41.6% 43.1% Profiles profiles is increasing in our sales. Structural Steel Profile 43.0% 38.4% 34.8% 31.5% 25.7% I and H Shape Steel 9.5% 6.3% 10.1% 13.3% 15.4
Slide 8: Financial Performance
Financial Performance Strong operational performance with TL 3.1bn EBITDA generation in 2025, despite all the headwinds Net Sales (TL mn) Adjusted EBITDA (TL mn) 25,177 24,112 3,500 20.0% 3,109 3,000 2,665 15.0% 2,500 12.9% 2,000 10.6% EBITDA Margin 10.0% 1,500 1,000 5.0% 500 0 0.0% 2024 2025 2024 2
Slide 9: 2025 Financial Performance (Quarterly)
2025 Financial Performance (Quarterly) In the fourth quarter, EBITDA margin and EBITDA per ton recovered steeply. Sales (TL bn) EBITDA and Margin (TL bn,%) EBITDA / ton ($) 6.4 0.9 129 6.2 6.1 120 0.8 5.4 0.8 107 0.6 74 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q All figures are in terms of purchasing power
Slide 10: Financial Performance
Financial Performance Borrowings – Net Financial Debt (TL mn)) Net Working Capital (TL mn) 2,880 Net Working 2,427 Capital 3,912 Trade Payables 7,192 4,158 6,121 Inventory 3,417 3,924 Trade 2,097 Receivables 2,015 -5,655 -4,448 31/12/2024 30/06/2025 Borrowings Net Financial Debt 31.12.2024 31.12.202
Slide 11: Foreign Currency Position
Foreign Currency Position FX Position ($mn) 31.12.2025 -101 -55 FX Assets FX Liabilities 79 86 22 44 Financial Assets -98 -102 Inventory Trade Payables -88 Trade Financial Receivables Liabilities -100 +24 31.12.2024 31.12.2025 mn USD Parasal Varlıklar Ticari Alacaklar Ticari Borçlar Finansal Yükümlü
Slide 12: Summary Financials
Summary Financials Summary Consolidated Balance Sheet (TL'000) 31-Dec-25 31-Dec-24 Change Current Assets 13.091.824 13.427.908 -3% Non-current Assets 13.106.465 12.480.548 5% Total Assets 26.198.289 25.908.456 1% Current Liabilities 10.399.986 10.598.818 -2% Non-current Liabilities 3.466.305 2.880.7
Slide 13: Why Kocaer Steel?
Why Kocaer Steel? Unique business model that distinguishes itself from the sector with 60 years of experience Competitive advantage with flexible production capability, product variety and service quality Wide international distribution network and over 30 years of export market experience Strong fi
Slide 14: Disclaimer
Disclaimer With the Capital Markets Board of Turkey’s Bulletin dated 28.12.2023 numbered 2023/81, CMB announced that issuers and capital market institutions shall prepare their annual financial statements ending on 31.12.2023 or later, in accordance with IAS 29 inflationary accounting provisions. Ac
Slide 15: Contact Kocaer Investor Relations
Contact Kocaer Investor Relations Visit our website at: www.kocaersteel.com/en/investor-relations yatirimci.iliskileri@kocaersteel.com 15 15