Lila Kagit Sanayi Ve Ticaret Anonim Sirketi · BIST:LILAK
Lila Kagit Sanayi Ve Ticaret Anonim Sirketi — Lila Kağıt Sanayi ve Ticaret A.Ş. — FY2025 Earnings Presentation
22 slides from Lila Kagit Sanayi Ve Ticaret Anonim Sirketi's earnings presentation, 2026
Slide 1: 2025 Financial Results
Nilakagit 2025 FINANCIAL RESULTS
Slide 2: Legal Notice
Legal Notice Pursuant to the Capital Markets Board (CMB) Bulletin dated December 28, 2023, and numbered 2023/81, it was publicly announced that issuers and capital market institutions subject to the CMB’s financial reporting regulations are required to implement inflation accounting in accordance wi
Slide 3: Value Creation with Sound Business Model
Value Creation with Sound Business Model Despite global trade uncertainties, we delivered sound operational and financial performance, driven by our export strength, branded product momentum, and disciplined focus on profitable growth 2025 Highlights • Sales tonnage delivered in line with our 2025 o
Slide 4: 2025 Market Dynamics
2025 Market Dynamics Trade wars and ongoing discussions on customs tariffs have reshaped export market dynamics Export markets (1) • Global trade flow and pricing uncertainty intensified in 2025, Europe & China Average Pulp Prices (USD/Ton) driven by the customs tariffs introduced by the United Stat
Slide 5: 2025 Market Dynamics
2025 Market Dynamics With strong momentum in the domestic market, our branded products have been the driving force of growth 2024- 2025 Türkiye C onverting Sales Trend y/y (1) Türkiye market • Compared to 2024, demand normalized in the domestic market in 2025, and a price increase was implemented in
Slide 6: Strong Customer Network Drove Continued Export Leadership in 2025
Strong Customer Network Drove Continued Export Leadership in 2025 Lila Kağıt accounted for 26% of Türkiye’s tissue paper exports . (1) 45% 45% 33% 29% Export markets accounted for 73% of our total sales .(2) 14% 2024 2025 12% 2024 2025 8% 6% The converting business maintained 2024 2025 2025 its stro
Slide 7: Efficient Capacity Utilization Driven by Productivity and Profitability Focus
Efficient Capacity Utilization Driven by Productivity and Profitability Focus (1) (1) Net Paper Production Lila Kağıt CUR TR Paper CUR Net Paper Production Lila Kağıt CUR TR Paper CUR 120.0 kTon 100% kTon 350.0 100% 100.0 89% 91% 77% 78% 300.0 84% 73% 78% 78% 80.0 250.0 221.4 204.2 60.0 54.2 47.6 20
Slide 8: Value Added Products Continued Strong Momentum in 2025
Value Added Products Continued Strong Momentum in 2025 Value Added Products Stable growth performance Contribution to Profitable Growth Premium Quality, High Value Added Mix Share(*) Value added products contribution Durability and Innovative to; Sales ~ +%30 Product Features 10.7% Gross margin 9.4%
Slide 9: Value Focus Performance on Per Ton Metrics
Value Focus Performance on Per Ton Metrics Net Revenue Per Ton COGS Per Ton EBITDA Per Ton (k TL) (k TL) (k TL) 75.0 53.6 -13% 14.9 -10% -13% 13.0 67.2 46.6 2024 2025 2024 2025 2024 2025 TAS 29 Impact Disciplined cost management Efficient OpE x management FX rates appreciation below inflation Proact
Slide 10: Financial Overview
Financial Overview
Slide 11: Strong Financial Results with Profitability Focus
Strong Financial Results with Profitability Focus (1) GROSS MARGIN Adj. EBITDA MARGIN NET INCOME MARGIN 4Q25 27.7% (+68bp y/y) 4Q25 18.1% (-46bp y/y) 4Q25 7.5% (+259bp y/y) FY25 30.1% (+196bp y/y) FY25 22.8% (+84bp y/y) FY25 12.5% (+314bp y/y) 35% sales tonnage increase in value added mix Strong ope
Slide 12: Sound Margin Outlook with Branded Product Contribution
Sound Margin Outlook with Branded Product Contribution Net Revenue Bridge (mTL) Adj. EBITDA Margin 16,385 +196 bp -983 +120 bp %22,8 654 13,604 %21,9 +18 bp -1,728 -725 -251 bp 2024 Gross Margin OpEx D&A FX Diff. 2025 2024 Price/product mix Volume Price/product mix Volume 2025 Net Revenue (exports)
Slide 13: Strong Balance Sheet with Tight Financial Management and Increasing Efficiency
Strong Balance Sheet with Tight Financial Management and Increasing Efficiency 122 116 Net Cash (mTL) Net Cash/EBITDA 2.000 4.2 Billion TL Strong Net cash 82 Trade Receivables (day) Position 79 9000.0 1.61 63 70 1.5000 • In 2025, financial debt; 26% Inventories (Day) 1.32 7000.0 1.000 denominated in
Slide 14: Strong Cash Flow Generation with Profitability Focus
Strong Cash Flow Generation with Profitability Focus Capex (mTL) Capex/Net Revenue Cash Flow From Operations(mTL) 15% Cash Flow From Investments(mTL) 1900.0 11.3% Free Cash Flow(mTL) 1700.0 10% 1,537 5,133 1500.0 5.6% 4,225 05% 1300.0 3,088 1100.0 00% 2,131 922 900.0 -05% 700.0 500.0 -10% 2024 2025
Slide 15: Investment Cycle Since IPO
Investment Cycle Since IPO We delivered on our IPO investment commitments; creating more visibility by 2025 Today… IPO Promises ✓ Erzurum Factory A significant portion of IPO Project status: Advanced Meaning of These proceeds allocated to investments 2Q26 Phase I converting production (1) Investment
Slide 16: Erzurum Factory: Next Phase of Growth
Erzurum Factory : Next Phase of Growth The converting production facility in Erzurum, being a key pillar of our capacity expansion, logistics efficiency, and medium -term profitability targets, planned to become operational in 2Q26 145k m2 23k m2 production field CONVERTING land allocation PRODUCTIO
Slide 17: Bold Steps in our Sustainability Journey
Bold Steps in our Sustainability Journey Our 2030 sustainability targets have been approved by our Board of Directors. In alignment with the Sustainable Development Goals, we set a total of 15 targets across 7 focus areas, and defined our ultimate long -term ambition as becoming a Carbon -Neutral co
Slide 18: 2026 Market Outlook, Guidance & Closing Remarks
2026 Market Outlook, Guidance & Closing Remarks
Slide 19: 2026 Market Outlook
2026 Market Outlook Opportunities Threats • Stabilization in pulp prices, normalization in sectoral demand • Protectionist policies in international trade continuing to weigh conditions, and growth in export markets on global goods trade • Effective working capital management and improved • Export-o
Slide 20: 2026 Guidance With Quality Growth Focus
2026 Guidance With Quality Growth Focus • Normalization in Export Markets Sales Tonnage Growth 7%-10% • Strong Momentum in Domestic Market • Positive Impact of Erzurum Investment Türkiye market High double -digit growth • Maintaining Over 70% Export Share in Sales Volume Export market Low-mid single
Slide 21: Strategic Commitment Through Value Creation Focus
Strategic Commitment ThroughValue Creation Focus Profitability Focus Strong Balance Sheet • Diversified product and customer portfolio • Strong balance sheet / financial position • Growth focus in value added • Sustained positive free cash flow categories • Stable dividend policy • Profitable growth
Slide 22: Thank you
Thank you Communication Işıl Tireli CFO +90 (216) 251 27 00 Doruk Sazer, CFA Head of IR +90 (216) 251 27 00 Beste Kuruç Financial Reporting Manager +90 (216) 251 27 00 www.lilakagit.com investorrelations @ lilakagit.com
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