Slide 1: Koç Holding 9M24 Earnings Presentation
KOÇ HOLDING 9M24 EARNINGS PRESENTATION 7 NOVEMBER 2024 9M24 Earnings Presentation
Slide 2: 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 3: Agenda
Agenda Koç Holding Key Indicators Highlights on Main Sectors Historical NAV 3 9M24 Earnings Presentation
Slide 4: Agenda
Agenda Koç Holding Key Indicators Highlights on Main Sectors Historical NAV 4 9M24 Earnings Presentation
Slide 5: Focus on Resilience: Sectoral & Geographical Diversification
Focus on Resilience Sectoral & Geographical Diversification Net Asset Value Breakdown by Sector1 International Revenues / Total Combined Revenues Auto 29% 48% Auto including FX linked (PC & CV Manufacturing) (Other) 28% revenues of Tüpraş 25% 12% Refining 17% Finance 22% Oil & Gas Distribution Consu
Slide 6: Focus on Resilience: Solid Liquidity
Focus on Resilience Solid Liquidity Enhanced Net Cash Bridge Solo, TL mn As of 31 December 2023: As of 30 September 2024: 29,726 = USD 795mn = USD 853mn Net cash including Net cash YKB AT1 as of 2023YE as of 30 September’24 1 8.813 4 + USD 1.56bn 23,402 1 29,062 + USD 1.61bn Gross cash including - 2
Slide 7: Key Metrics
Key Metrics Fundamentals Remain Intact on the Back of Prudent Management Strong Cash Position Solid Liquidity FX Position USD 853mn 1.3x +USD 650mn Solo Current Ratio Solo Net Cash on Combined Basis2 long FX Position + USD 1.6bn Gross cash + USD 518mn Consolidated long FX position TL after natural h
Slide 8: Agenda
Agenda Koç Holding Key Indicators Highlights on Main Sectors Historical NAV 8 9M24 Earnings Presentation
Slide 9: Energy
Energy Healthy results amid higher capacity utilization and lower energy expenses Domestic Market Sales Volume Crack Margins 9M24 Highlights Million Tonnes USD/bbl, average (ytd) 28.2 Higher sales volume y/y +0.1% +7% +21% -7% Growth 26.2 Lower energy expenses 19.7 17.0 17.1 17.8 14.6 17.3 Higher ca
Slide 10: Automotive
Automotive Heightened competition in the domestic market Monthly Trend 9M24 Highlights Sales Volume Thousand Units Thousand Units Total Turkey Exports Koç Passenger Cars (Turkey) 13% 50% 22% 20% 37% Pull-forward domestic demand, albeit slowing down since Q2 Market Share Light Commercial (Turkey) 140
Slide 11: Consumer Durables
Consumer Durables Pressure on margins and higher financial expenses reflected on the bottom line Sales Volumes Across Markets1 Monthly Trend 9M24 Highlights Million Units Million Units " Koç Market Share 20% 68% 26% 30% 41% Contribution of Whirlpool since April Turkey Exports Slowdown in demand in T
Slide 12: Finance
Finance Macro backdrop weighs on net profit TL Lending Growth Sector’s Loans & Deposits 9M24 Highlights 13 Weeks Annualized TL Billion, USD Billion Private State Sector 9M24 q/q ytd y/y Substantial growth in net fees & commission income 110% Loans 14,926 8% 28% 40% 90% + TL 9,381 6% 19% 29% Ongoing
Slide 13: Group's 9M24 Financial Performance
Group’s 9M24 Financial Performance Varying Performances at Different Segments Financial Performance TL Million Consumer Energy Automotive Finance Other TOTAL Durables Combined Revenues1 948,415 668,056 344,026 503,349 112,056 2,575,902 Change (y/y) -10% -9% 13% 33% 1% -0.2% Segment Share in Total 37
Slide 14: Group's 3Q24 Financial Performance
Group’s 3Q24 Financial Performance Varying Performances at Different Segments Financial Performance Consumer Energy Automotive Finance Other TOTAL TL Million Durables Combined Revenues1 313,267 220,200 118,408 168,647 37,489 858,011 Change (y/y) -30% -11% 14% 16% -7% -13% Segment Share in Total 37%
Slide 15: Agenda
Agenda Koç Holding Key Indicators Highlights on Main Sectors Historical NAV 15 9M24 Earnings Presentation
Slide 16: Historical NAV Discount
Historical NAV Discount NAV Discount Highly Correlated With Sentiment Relative Share Performance of Koç Holding vs. Koç Group1 NAV Discount/Premium2 Rebased at 2023YE 100% 15% 10% 80% 5% 0% 60% -5% Avg NAV discount between 2009-2024: -12 % 40% -10% Historical 23% Average 22% -15% 20% 19% -20% 12% 0%
Slide 17: Q&A
Q&A 9M24 Earnings Presentation
Slide 18: Appendix - Focus on Resilience: Dividend Income
Appendix - Focus on Resilience Business Model Ensures Sustainability of Dividend Income Dividend Income 1, 2 Dividend Payments1 TL Billion TL Billion Dividend 2021 2022 2023 2024 YTD Dividend 16% 15% 6% 28% Tüpraş (inc. EYAŞ) - - 10.3 10.6 Payout 29.7 Ford Otosan 1.4 2.5 6.0 5.9 Tofaş 0.6 1.2 1.1 3.
Slide 19: Appendix - Consolidated Key Financial Figures
Appendix - Consolidated Key Financial Figures Consolidated Main Financial Indicators Consolidated Net Income TL Million TL Million 9M23 9M24 y/y 52,867 Revenues 1,594,216 1,660,515 4% Gross Profit 399,359 240,661 -40% - 5,733 Operating Profit 237,726 66,956 -72% Profit Before Tax 157,668 14,392 -91%
Slide 20: Appendix - 2024 Expectations of the Listed Group Companies
Appendix - 2024 Expectations of the Listed Group Companies TOFAŞ 2023A 2024E - Mar'24 2024E - May'24 2024E - Aug'24 2024E - Nov'24 TÜRKTRAKTÖR 2023A 2024E - Mar'24 2024E - May'24 2024E - Jul'24 2024E - Oct'24 TÜPRAŞ 2023A 2024E - Mar'24 2024E - Aug'24 Sector ('000) Sector ('000) Total TR LV Sales 1,
Slide 21: Appendix - Our ESG Journey
Appendix - Our ESG Journey ✓ Committed to be carbon neutral by 2050 ✓ International Platforms The Koç Group Carbon Transition Roadmap: ➢ United Nations Global Compact 14% reduction in 2023 vs. 2017 baseline year ➢ CEO Water Mandate ➢ CFO Coalition For the SDGs 27% by 2030 49% by 2040 ➢ WEF - Stakeho
Slide 22: Appendix - Shareholding Structures
Appendix - Shareholding Structures Koç Holding Koç Family: 63.4%1 Free Float: 26.9% Vehbi Koç Foundation: 7.3% Koç Pension Fund: 2.3% Share Buyback: 0.04% Consumer Energy Automotive Finance Other ⁵ Durables Tüpraş Ford Otosan Arçelik Yapı Kredi Bank EYAŞ: 46.4% KH: 20.22% Koçtaş KH: 39% KH: 41% KH:
Slide 23: Contact Koç Holding Investor Relations
Contact Koç Holding Investor Relations investorrelations@koc.com.tr Visit our website at: www.koc.com.tr/investor-relations +90 850 756 23 23 Nursel Ilgen, CFA, Coordinator, Head of IR Investor Relations nurseli@koc.com.tr Cansev Atak, Manager Investor Relations canseva@koc.com.tr İsmail Özer, Manag