Oyak Cimento Fabrikalari A.s. · BIST:OYAKC
Oyak Cimento Fabrikalari A.s — OYAK Çimento Fabrikaları A.Ş. — Q1 2024 Earnings Presentation
29 slides from Oyak Cimento Fabrikalari A.s's earnings presentation, 2024
Slide 1: Financial Results
" i vA cbTCC | @ax) | CEMENT FINANCIAL | RESULTS
Slide 2: TCC at a Glance
Taiwan Cement Corporation · Building a Green Future TCC at a Glance TCC Global Operations • Founded on May 1, 1946 850 MWh Energy Storage Capacity • Reorganized as Taiwan Cement Corporation (TCC) on January 1, 1951 Italy France Spain Australia US • Privatized in 1954 and management was taken over by
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: Shareholding Structure
Shareholding Structure % % % % } 100% 100% 100% 100% TAIWAN CEMENT DUTCH HOLDINGS BV OYAK CAPITAL INVESTMENT B.V. TAIWAN CEMENT DUTCH HOLDINGS BV OYAK CAPITAL INVESTMENT B.V. (TCC) (Netherlands) (OCI) (Netherlands) (TCC) (Netherlands) (OCI) (Netherlands) 40% % 60% CIMPOR GLOBAL HOLDINGS BV % 60% % %
Slide 5: Key Messages & Financial Highlights
01 Key Messages & Financial Highlights 2024 Q1 Financial Results
Slide 6: Key Messages & Financial Highlights 2024 Q1 vs 2023 Q1
01 Key Messages & Financial Highlights · 2024 Q1 vs 2023 Q1 The first cement company in Türkiye to make a “Net Zero” Domestic Cement Sales Price Domestic Cement Sales Volume 0 commitment 58,0% ~+18% +34% 25,2% 17,4% 95.9 RMC RMC 6,4% Sales Price Sales Volume ~+48% +32% AF (%) 2016 2020 2023 2030 Net
Slide 7: Cement Sector
02 Cement Sector 2024 Q1 Financial Results
Slide 8: Turkish Cement Sector 2024 Q1, 2023 Q1 and 2022 Q1
02 Turkish Cement Sector · 2024 Q1, 2023 Q1 and 2022 Q1 Cement Production (million ton) Export (million ton) 1Q22-1Q23 1Q22-1Q23 7.1 19.9 +10% 4.8 4.9 -33% 16.0 14.5 1Q23-1Q24 4.5 1Q23-1Q24 +25% 3.8 +3% 3.7 2.6 Cement 0.9 1.2 Clinker 1Q22 1Q23 1Q24 1Q22 1Q23 1Q24 Domestic Cement Consumption (million
Slide 9: Turkish Cement Sector 1Q24 vs 1Q23
02 Turkish Cement Sector · 1Q24 vs 1Q23 Domestic Cement Consumption (change %) Türkiye +34.3% +32.2% +10.5% +103.7% +26.4% +7.5% +110.0% +60.6% OYAK Cement Plants (integrated) Source: Türk Çimento 8
Slide 10: Turkish Cement Sector: Cement and Clinker Exports
02 Turkish Cement Sector · 2024 Q1 vs 2023 Q1 Cement Exports (‘000 ton) Clinker Exports (‘000 ton) -4% +33% 23Q1 24Q1 23Q1 24Q1 3,848 1,216 3,677 +2% 914 -51% 1,812 1,849 -7% +34% +723% +47% +14% +31% 734 357 181 164 121 104 206 20 106 192 135 111 163 113 129 79 USA Israel Syria Italy Bulgaria Total
Slide 11: OYAK Cement Türkiye
02 OYAK Cement · Türkiye Cement Capacity 24.0 m ton İstanbul Kocaeli Zonguldak Ordu Rize 1 4 1 1 3 Concrete Capacity 1 Bolu 3 12.5 mm 7 1 1 3 1 Ankara 8 Aggregates Capacity 6.8 m ton 2 1 4 1 1 Denizli 2 1 2 1 3 1 6 2 Hatay Mardin 1 OYAK Cement operates 7 integrated and Adana 3 grinding cement facili
Slide 12: Financial Results
03 Financial Results 2024 Q1 Financial Results
Slide 13: Profit margin continues its upward trend
03 Financial Results · Profit margin continues its upward trend SALES REVENUE (m TL) EBITDA* (m TL) NET INCOME (m TL) +5% 29% 28% 25% 23% 24% 33% 5% 10% -2% +76% 8,164 +69% +147% 7,898 7,755 +94% 2,179 2,611 1,945 1,907 4,486 494 1,291 1,057 807 283 40 415 3,992 1,008 1,017 1Q23 1Q24 1Q23 1Q24 1Q23
Slide 14: EBITDA margin trend
03 Financial Results · EBITDA margin trend 8,164 7,848 7,898 Sales Revenue (m TL) 7,070 765 7,775 5,441 519 4,995 448 474 1Q23-1Q24 3,820 4,486 1Q23-1Q24 +5% 3,438 +76% 4Q22-4Q23 343 3Q22-3Q23 494 387 2Q22-2Q23 6,552 +85% 7,082 +57% +58% 4,993 4,521 3,992 3,052 3,477 2Q22 2Q23 3Q22 3Q23 4Q22 4Q23 1Q
Slide 15: Net Working Capital (NWC)
03 Net Working Capital (NWC) · Sustainable level with highest collateralization Sustainable level with highest collateralization 21% 19% 16% 18% 16% NWC as a % of 5,894 Sales Revenue (LTM) 5,675 5,514 5,959 4,041 4,996 4,611 5,057 5,181 NWC (m TL) 4,193 4,328 4,708 4,725 4,577 3,221 Trade receivable
Slide 16: Net Cash (Debt)
03 Net Cash (Debt) · Sizable balance sheet for future acquisitions and investments Sizable balance sheet for future acquisitions and investments Net Cash (Debt) Net Cash (Debt) / EBITDA (LTM) 4,886 5,832 0.56 1,101 0.47 433 6,098 3,671 2,780 4,822 0.14 0.05 1,140 2,470 1,133 504 756 617 -51 -2,169 -
Slide 17: Free Cash Flow
03 Free Cash Flow 1,907 -379 -28 -334 1,166 FCF/ EBITDA mTL 1Q24 %61 EBITDA Net Working Tax Capital Free Cash Capital Change Payments Expenditures Flow 1,945 -284 -156 -193 FCF/ EBITDA 1Q23 mTL 1,312 %67 EBITDA Net Working Tax Capital Free Cash Capital Change Payments Expenditures Flow 16
Slide 18: Contact Information
Contact Information Murat SELA General Manager Ali Onur AYGÜN Finance Country Director Burak KÖROĞLU OYAK Cement Contact Information : A&T Director iletisim@oyakcimento.com Ece Nur DEVECİ investor.relations@oyakcement.com FP&A Manager +90 312 220 01 12
Slide 19: Appendix
04 Appendix 2024 Q1 Financial Results
Slide 20: Cement Product Portfolio
04 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
Slide 21: OYAK Concrete: The Brand Name of Big Ticket Projects in Türkiye
04 OYAK Concrete · The Brand Name of Big Ticket Projects in Türkiye 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 prod
Slide 22: Catalogues
04 Catalogues VAP (Value Added Products) Catalogue and White Cement Catalogue in 11 Languages • Turkish • Spanish • German • Italian • Arabic • Polish • French • Portuguese • Hebrew • Russian • English 21
Slide 23: Digital
04 Digital Turkish Cement Sector – Interactive Map Software ∙ Reviewing capacity data by country & province ∙ Marking on location ∙ Updating, adding and deleting information Mobile Application for Customers (I-DEAL) ∙ Access to all product analysis reports with QR code ∙ Access to contact informatio
Slide 24: Digital
)4 _ Digital www.oyakwhitecement.com yenilendi a cbtcc | @ax) CEMENT @®| coon : © ssi rot) GBD | comewr XN +Super +Super Xe) : White+ White White SroWhite © waxsenn Er»)
Slide 25: Income Statement
04 Income Statement · Stable EBITDA followed by increase in net profit m TL 1Q24 1Q23 ∆% Sales revenue 8,164 7,755 5% Cost of sales -6,255 -5,444 15% Operating expenses -396 -322 23% Other operating income /(expenses) 28 -348 -108% Operating profit / (loss) 1,542 1,641 -6% Other income / (expenses)
Slide 26: Balance Sheet
04 Balance Sheet m TL 1Q24 FY23 m TL 1Q24 FY23 Current assets 16,026 17,037 Current liabilities 5,848 7,669 Cash and cash equivalents 4,822 6,098 Short term borrowings 72 76 Financial investments 1,133 617 Trade payables 3,741 4,190 Trade receivables 5,057 4,996 Other current liabilities 2,035 3,403
Slide 27: Cash Flow
04 Cash Flow m TL 1Q24 1Q23 A. CASH FLOWS FROM OPERATING ACTIVITIES 1,433 461 Profit for the Period 807 439 Net Profit/(Loss) for the Period from Discontinued Operations - -23 Adjustments Related to Reconciliation of Net Profit for the Period 803 518 Changes in Working Capital -64 41 Cash Flows from
Slide 28: EBITDA · Net Profit
04 EBITDA · Net Profit +208 -473 1,907 -365 1,542 +48 -518 807 mTL EBITDA* Amortization Operating Profit Investment Financial Monetary Tax Net Profit Activity Income / Expense Gain / Loss * EBITDA : Operating profit / (loss) + Amortization and depreciation 27
Slide 29: Disclaimer · Forward-looking Statements
Disclaimer · Forward-looking Statements 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
OYAK Çimento Fabrikaları A.Ş. — Q1 2024 Earnings Presentation on 6ix