Oyak Cimento Fabrikalari A.s. · BIST:OYAKC
Oyak Cimento Fabrikalari A.s — OYAK Çimento Fabrikaları A.Ş. — Q2 2024 Earnings Presentation
26 slides from Oyak Cimento Fabrikalari A.s's earnings presentation, 2024
Slide 1: 2Q24 Financial Results
2Q24 fotcc | @ax) | CEMENT FINANCIAL RESULTS
Slide 2: TCC at a Glance
Taiwan Cement Corporation · TCC at a Glance TCC Global Operations 850 MWh Energy Storage Capacity 857k tons Carbon Black Production TCC Performance 3.3 GWh 198 MWh Battery Renewable Energy 112m tons Cement Capacity Globally 269 Ranking 3rd in Global Cement Sector 185 112 103 92 35 69 56 53 52 47 40
Slide 3: Global Footprint
Global Footprint Cement Capacity Clinker Capacity Taiwan 77.0 m ton 65.8 m ton China Netherlands Cement Capacity Clinker Capacity 35.0 m ton 18.0 m ton Portugal Romania Integrated Grinding Calcined Clay Türkiye Facility Facility Facility 10 7 3 TRNC RMX Aggregates Paper & Concrete Paper Bag Cape Ver
Slide 4: Key Messages & Financial Highlights
Key Messages & Financial Highlights 2Q24 Financial Results
Slide 5: Key Messages & Financial Highlights
Key Messages & Financial Highlights · Net Sales (2Q24 vs 2Q23) Net Sales (1H24 vs 1H23) 9,375 mn ₺ (267 mn €) -2% 18,226 mn ₺ (519 mn €) +1% EBITDA (2Q24 vs 2Q23) EBITDA (1H24 vs 1H23) 3,318 mn ₺ (94 mn €) -2% 5,385 mn ₺ (153 mn €) -2% • Robust volume growth continued in 2Q24 in domestic market. • E
Slide 6: Peer Analysis
Peer Analysis · +1% -8% -19% Sales Revenue 1H23 1H24 OYAKC Competitor 1 Competitor 2 -2% -25% -42% EBITDA OYAKC Competitor 1 Competitor 2 -1 pp -4 pp -6 pp EBITDA Margin (%) OYAKC Competitor 1 Competitor 2 Source: KAP, Public disclosures 5
Slide 7: Key Messages & Financial Highlights
Key Messages & Financial Highlights · The first cement company in Türkiye to make a “Net Zero” commitment Alternative Fuel Usage 58.0% 25.2% 17.4% 6.4% Operational efficiency 2016 2020 2023 2030 Readiness to regulatory changes Sustainability - Waste Heat Recover (WHR) investment Superior financial p
Slide 8: 2Q24 Financial Results
02 2Q24 Financial Results
Slide 9: Turkish Cement Sector
Turkish Cement Sector · Cement Production (million ton) Export (million ton) 34.2 28.0 29.2 +4% 14.9 -32% 10.2 9.9 +17% 9.4 -2% 8.3 7.3 5.6 1.8 2.6 5M22 5M23 5M24 1H22 1H23 1H24 Domestic Cement Consumption (million ton)* Clinker Stock (million ton) 28.2 5.5 22.4 +17% 4.3 4.1 +28% 19.0 +26% -25% 5M22
Slide 10: Turkish Cement Sector
Turkish Cement Sector · Domestic Cement Consumption (change %) Türkiye +26.0% +33.1% +9.4% +59.6% +2.8% +14.7% +73.7% +42.6% OYAK Cement Plants (integrated) Source: TCMB
Slide 11: Turkish Cement Sector
Turkish Cement Sector · Cement Exports (‘000 ton) Clinker Exports (‘000 ton) 1H23 1H24 1H23 1H24 -12% +41% 8,333 2,598 7,333 1,846 3,980 3,707 1,390 399 257 310 190 190 177 229 176 448 450 416 209 354 245 278 71 112 USA Syria Israel Bulgaria Italy Total Italy Belgium France Romania Spain Total Sourc
Slide 12: OYAK Cement
OYAK Cement · Cement Capacity 24.0 m ton İstanbul Kocaeli Zonguldak 1 Ordu Rize 4 1 1 3 1 Concrete Capacity 7 1 1 3 Bolu 12.5 mm 3 1 8 Ankara Aggregates Capacity 2 1 6.8 m ton 4 1 1 Denizli 2 1 Mardin 2 1 3 1 6 2 Hatay Adana 1 Cement Plants (integrated) 1 0# Grinding Plants # RMX Plants # Aggregate
Slide 13: 2Q24 Financial Results
03 2Q24 Financial Results
Slide 14: Financial Results
Financial Results · SALES REVENUE EBITDA NET INCOME 35.5% 23.4% 35.4% 71.6% 9.9% 22.4% 9,558 9,375 8,850 -2% -2% -69% YoY YoY YoY 6,841 +6% +60% +140% QoQ 3,392 3,318 QoQ QoQ 2,068 2,103 875 2Q23 1Q24 2Q24 2Q23 1Q24 2Q24 2Q23 1Q24 2Q24 •Strong sales volume supported QoQ growth •Relief in pricing led
Slide 15: Financial Results
Financial Results · Quarterly Revenue (m TL) L12M Revenue (m TL) 32,012 9,196 28,257 7,848 7,898 7,070 24,845 21,993 5,441 2Q23 3Q23 4Q23 1Q24 2Q24 3Q23 4Q23 1Q24 2Q24 Quarterly EBITDA (m TL) L12M EBITDA (m TL) 37.0% 35.1% 30.1% 27.6% 37.9% 33.4% 32.8% 32.0% 32.8% 10,509 3,483 9,038 2,484 2,363 8,15
Slide 16: Net Working Capital (NWC)
Net Working Capital (NWC) Sustainable level with highest collateralization NWC as a % of 21% 19% 16% 16% 20% 20% Sales Revenue (LTM) NWC (m TL) 5,616 5,416 5,482 5,962 5,843 4,545 4,692 5,104 4,962 3,492 4,961 5,386 -3,656 -4,156 -4,055 -4,542 -3,580 -3,605 2021 2022 2023 1Q24 1H23 1H24
Slide 17: Net Cash (Debt) Development
Net Cash (Debt) Development Solid balance sheet for future acquisitions and investments Net Cash (Debt) Net Cash (Debt) / EBITDA (LTM) 0.56 0.57 -1,583 1,195 5,297 6,322 6,382 0.47 6,611 5,227 6,569 3,980 0.14 1,236 820 669 1,228 918 546 -78 -1,070 -2,351 -85 -1,898 -3,455 -55 -35 -1,014 -85 -150 -0
Slide 18: Free Cash Flow
Free Cash Flow 1H24 mn TL 36% 1H23 mn TL 55%
Slide 19: 2Q24 Financial Results
2Q24 Financial Results
Slide 20: Appendix
Appendix ( bTCC | @yax) | CEMENT 2Q24 Financial Results Q:
Slide 21: Cement Product Portfolio
Cement Product Portfolio • CEM II/A-LL 42.5 R • CEM II/B-M (S-L) 42.5 R • CEM II/C-M (P-LL) 32.5 N • CEM I 52.5 R • CEM II/A-LL 52.5 R • CEM VI (S-LL) 32.5 R • CEM II/A-M (S-L) 42.5 R • CEM II/B-M (S-V) 42.5 R • CEM VI (S-L) 32.5 N • CEM II/A-M (P-LL) 42.5 R • CEM II/B-LL 32.5R • CEM II/A-S 42.5 R •
Slide 22: OYAK Concrete
OYAK Concrete · OYAK Concrete, the main field of activity of which is production and sales of ready-mix concrete, also intended to produce the aggregate, which has outpaced the cement in some plants and taken the first place among the concrete production cost items Currently, OYAK Concrete operates
Slide 23: Income Statement
Income Statement m TL 2Q24 2Q23 ∆% 1H24 1H23 ∆% Revenue 9,375 9,558 -2% 18,226 17,965 1% Cost of sales -6,623 -6,230 6% -13,403 -12,131 10% Operating expenses -513 -424 21% -942 -774 22% Other operating income / (expenses) 443 -41 n.m. 474 -418 n.m. Operating profit / (loss) 2,683 2,863 -6% 4,355 4,
Slide 24: Balance Sheet
Balance Sheet m TL 1H24 2023 m TL 1H24 2023 Current assets 19,211 18,469 Current liabilities 6,522 8,314 Cash and cash equivalents 6,569 6,611 Short term borrowings 1,070 1,898 Financial investments 918 669 Trade payables 3,605 4,542 Trade receivables 5,962 5,416 Other current liabilities 1,848 1,87
Slide 25: Contact Information
Contact Information Ali Onur AYGÜN Finance Country Director Burak KÖROĞLU Accounting and Tax Director Kerimcan UZUN Investor Relations Manager OYAK Cement Contact Information : iletisim@oyakcimento.com investor.relations@oyakcement.com +90 312 220 01 12
Slide 26: Disclaimer
Disclaimer · Bu sunum OYAK Çimento Fabrikaları A.Ş. tarafından sadece bilgi sağlamak amacıyla hazırlanmıştır. OYAK Çimento Fabrikaları A.Ş. yönetimi tarafından sağlanan kamuya açık bilgiler ve verilere dayanmaktadır ve temel olarak, mevcut ve gelecekteki iş stratejilerimiz ve içinde faaliyet göstere
OYAK Çimento Fabrikaları A.Ş. — Q2 2024 Earnings Presentation on 6ix