Aksa Akrilik Kimya Sanayii A.s. · BIST:AKSA

Aksa Akrilik Kimya Sanayii A.s — Investor Presentation (August 2013)

30 slides from Aksa Akrilik Kimya Sanayii A.s's investor presentation, August 2013

  1. Slide 1: Aksa Akrilik Kimya Sanayi

    AKSA AKRILIK KIMYA SANAYI AUGUST 2013 1

  2. Slide 2: Akkok Industrial Investment & Development Inc.

    AKKOK INDUSTRIAL INVESTMENT & DEVELOPMENT INC. Akkok Group Companies CHEMICALS AKSA, AK-KİM, DOWAKSA ENERGY AKENERJİ, SEDAŞ,EGEMER AKKOK 2007 2008 2009 2010 2011 2012 (Million US$) TEXTILES AK-TOPS, AKSA EGYPT Net Sales 1.337 1.514 2.166 2.675 2.900 3.142 Export 346 326 332 417 458 393 REAL ESTATE D

  3. Slide 3: Main Strategies

    Main Strategies •Operational excellence •Increasing Productivity •Cost Reduction •Reliable Quality and Service •CRM •Sustainable Profitability •Producing high quality and reliable energy with cost effectiveness •Development capabilities in terms of operational excellence •Identifiying of new busines

  4. Slide 4: Strategic Business Units of Aksa

    STRATEGIC BUSINESS UNITS of AKSA STANDARD ACRYLIC FIBER BUSINESS UNIT • Largest acrylic fiber producer under one single roof in the world; • 14 % global market share; • Turkey’s sole local producer with around 70% local market share. TECHNICAL FIBERS BUSINESS UNIT • High value-added products / Devel

  5. Slide 5: Fibers

    VxN AKSA FIBERS

  6. Slide 6: What Is Acrylic Fiber?

    WHAT IS ACRYLIC FIBER? Acrylic fibre is a synthetic fibre that highly resembles wool, Wool (natural fiber) Acrylic Fiber (synthetic fiber) Used in blends with natural and other synthetic fibers or by themselves, Easily washed and keep dimensional stability/resistant against sunlight & chemical subst

  7. Slide 7: Acrylic Fiber Sector in Brief

    ACRYLIC FIBER SECTOR IN BRIEF Acrylic fiber market accounts for 2 million tonnes in 2012. The global demand for acrylic fiber in 2020 is expected to be around the same level as 2 million tonnes. Biggest Consumption Market is China . During 2007-2010 shrank by 20% / adopts self sufficiency strategy/i

  8. Slide 8: 42 Years of Experience in Acrylic Fiber Industry

    HAVING 42 YEARS OF EXPERIENCE IN ACRYLIC FIBER INDUSTRY... Leader in Turkey and in international markets in terms of capacity, size, pre-and post-service quality, product diversity & flexibility; Low cost leader; Production capacity : 308,000 ton/year; Capacity Utilization Rate:86% in 2010, 93 % in

  9. Slide 9: Aksa's Development Over 40 Years

    AKSA’s Development Over 40 Years AKSA 1971 AKSA Today Initial Capacity 5,000 tpa Capacity 308,000 tpa By the end of 2007, capacity reached 308,000 tpa. 9

  10. Slide 10: 2013 June Sales Breakdown

    2013 JUNE / SALES BREAKDOWN EXPORT SALES BREAKDOWN DOMESTIC SALES BREAKDOWN ( 2013 JUNE) ( 2013 JUNE ) OTHER, 5% Handknit; Other; 5% Knitwear; CHINA, 18% 4% MIDDLE 60% EAST, 31% USA, 18% AFRICA, 7% Carpets, EUROPE, 31% 21% 10

  11. Slide 11: Acrylic Fiber Industry Players

    ACRYLIC FIBER INDUSTRY PLAYERS AKSA (TURKEY) / Production Capacity: 308,000 tpa MONTEFIBRE (SPAIN) / 95,000 tpa DRALON (GERMANY) / 188,000 tpa FORMOSA (TAIWAN) / 72,000 tpa THAİ ACRYLİC FİBRE (THAILAND)/ 120,000 tpa SHANGHAİ PETROCHEMİCALS (SPC) (CHINA) / 150,000 tpa DAQİNG PETROCHEMİCAL(CHINA) / 65

  12. Slide 12: Global Productions of Textile Fibers

    GLOBAL PRODUCTIONS OF TEXTILE FIBERS 1970 1980 1985 1990 1995 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2025 2050 Synthetic Fibers 8.4 14.5 16.5 19.0 22.5 32.1 31.7 33.9 35.5 38.0 38.2 41.3 44.5 42.6 43.9 48.0 51.8 54.3 63.6 97.2 Polyester 0.0 0.0 0.0 0.0 0.0 19.1 19.2 21.0 22

  13. Slide 13: Cost Structure of Acrylic Fiber

    COST STRUCTURE OF ACRLYIC FIBER The key cost component is the raw material Acrylonitrile • Acrlyonitrile prices fluctuates depending on the oil prices and the demand –supply balance; • 30% of ACN locally sourced from PETKIM, The rest is heavily imported from Europe / US. The other important cost com

  14. Slide 14: Ecru Tow - ACN Price Margin

    ECRU TOW - ACN PRICE MARGIN (US$/ton) 7000 6000 5000 4000 3000 2000 1000 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013/JUL ACN ECRUTOW MARGIN Source: PCI Average of US/Europe/Far East Prices 14

  15. Slide 15: Energy

    VxN AKSA ENERGY 15

  16. Slide 16: Energy Generation & Turnover

    ENERGY GENERATION & TURNOVER Generation (2012) KWH Generation (2013 Q2) KWH 24% 29% Electricity -KWH Electricity -KWH Steam- KWH Steam- KWH 76% 71% Energy Turnover (2012) Energy Turnover (2013 Q2) 9% 13% 4% Group Group 3% Non-group Non-group 87% 84% Turkish Electricity Turkish Electricity Transmissi

  17. Slide 17: Carbon Fiber

    VxN AKSA CARBON FIBER 17

  18. Slide 18: What Is Carbon Fiber?

    WHAT IS CARBON FIBER? human hair , (50-70 μ) • Carbon fibers are extremely fine fibers (typ, 5-7 µ in dia,) consisting mostly of carbon atoms, carbon fiber (5-7 μ) • Carbon fiber is >95% carbon, a carbon fiber and a human hair (source: wikipedia) • The structure of carbon fiber is similar to graphit

  19. Slide 19: Expected Growth in Demand for Carbon Fiber

    EXPECTED GROWTH IN DEMAND FOR CARBON FIBER Industrial Apps 2010 vs 2020: Wind: 5,000t  15,000-50,000t Compounding: 5,000t  15,000-50,000t Pressure Vessels: 3,000t  15,000-50,000t Autos: 2,500t  20,000-100,000t Carbon fibre demand was around 20,000 tonnes in 2004, The demand than doubled in the f

  20. Slide 20: The "Un-Met Need" for Carbon Fiber

    THE “UN-MET NEED” FOR CARBON FIBER Carbon Fiber Capacity Market Research; Hexcel • Carbon fiber has been available commercially since SGL Zoltek the 1970’s, FPC • Demand has grown irregularly depending on new Cytec applications, Mitsubishi Rayon Others DowAKSA • Tight supply conditions have occurred

  21. Slide 21: Long-Term Goals

    LONG-TERM GOALS Generate at least US$1 billion sustainable revenues, Sustain EBITDA Margins around 12-13%, Maintain capacity utilization and low-cost leadership through cost saving projects and economies of scale, Develop new technical fibers to create added value and end-use areas except textile in

  22. Slide 22: Developments During 2012-2013

    DEVELOPMENTS DURING 2012-2013 Aksa Karbon Elyaf San. A.Ş. is established by partial spin off as of 2 January . Establishment of 50%-%50% joint venture company for carbon fiber operations is finalised with Dow Europe (50% of equity value is 185 mio USD) as of 29 June. First phase of new co-generation

  23. Slide 23: Budget Figures

    BUDGET FIGURES (million US$) 2012 Actual 2013 June Actual 2013 Budget Net Sales US$900 US$442 US$850-900 AF US$800 US$377 US$725-765 Tecnical Fibers US$60 US$35 US$60-65 Energy US$40 US$30 US$65-70 Exports US$320 US$146 US$260-280 AF CUR 95% 98% 95% EBITDA margin ~ 12% 14% 12% CAPEX US$45 US$30 US$7

  24. Slide 24: Net Sales & Export (FOB)

    NET SALES & EXPORT (FOB) (USD mio) 978 1000 907 900 851 800 672 670 678 700 600 557 519 532 500 442 389 380 400 323 317 333 312 259 268 300 250 207 232 180 200 146 138 67 92 100 0 2000 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Q2 Net sales Export 24

  25. Slide 25: EBITDA - Net Profit

    EBITDA - NET PROFIT (USD mio) 120 108 109 100 93 93 85 80 74 63 60 57 60 49 48 43 45 37 40 35 26 19 20 10 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 Q2 EBITDA NET PROFIT 25

  26. Slide 26: EBITDA - Net Profit (%)

    EBITDA - NET PROFIT (%) 16% 13.2% 14.2% 14% 13.8% 12% 12.0% 10.0% 11.0% 10.2% 10% 9.0% 8.9% 8% 7.3% 8.0% 6.6% 6.4% 6% 5.8% 4% 2.8% 4.7% 4.4% 2% 1.9% 0% 2005 2006 2007 2008 2009 2010 2011 2012 2013 Q2 EBITDA NET PROFIT 26

  27. Slide 27: Investment-Profit-Dividend

    INVESTMENT-PROFIT-DIVIDEND 2002-2013 Q2: • Total Investment : US$ 718,7 mio USD • Total Net Profit : US$ 479,6 mio USD • Total Dividend : US$ 137,6 mio USD 159.00 160 140 120 97.9 95.85 92.61 100 87.8 80 67.4 57.2 57.00 60 52.3 50.00 48.5 45.02 38.7 37.00 35.19 40 28.4 30.4 27.4 26.4 29.56 23.8 19.5

  28. Slide 28: Summary Income Statement

    SUMMARY INCOME STATEMENT Income Statement ('million USD) 2008 2009 2010 2011 2012 2013 Q2 NET SALES 678 556 851 978 907 442 EBITDA 60 74 85 108 109 63 NET PROFIT 45 26 37 57 93 35 28

  29. Slide 29: Balance Sheet

    BALANCE SHEET Balance Sheet ('000 US$) 2008 2009 2010 2011 2012 2013 Q2 ASSETS 707,481 808,967 836,241 874,882 873,419 856,547 Current Assets 376,237 390,652 388,060 406,678 388,342 395,787 Liquid Assets 26,685 64,003 36,832 45,056 79,363 95,664 Receivables 264,282 218,251 211,656 212,450 178,657 18

  30. Slide 30: Thank You

    AKSA 1111 M\\\\ AKSA THANK YOU http://www.aksa.com yatirimciiliskileri@aksa.com 30

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