20 slides from Atakey Patates Gida Sanayi Ve Ticaret As's earnings presentation, Oct 31, 2024
Slide 1: 3Q24 & 9M24 Results Announcement Presentation
ATAKEY 3Q24 & 9M24 Results Announcement Presentation 9M 2024 October 31, 2024
Slide 2: Disclaimer
Disclaimer This presentation includes forward-looking statements, including, but not limited to, statements regarding Atakey's plans, objectives, expectations, and intentions, and other statements that are not historical facts. Forward-looking statements can generally be identified by the use of wor
Slide 3: Financial Performance for 9M24 (Million ₺)
Financial Performance for 9M24 (Million ₺) Revenues Operating Profit Before ₺ 2,193 M %52 yoy Before ₺ 846 M %58 yoy After ₺ 2,520 M -4% yoy After ₺ 495 M -27% yoy EBITDA Net Profit Before ₺ 682 M %30 yoy Before ₺ 760 M %154 yoy After ₺ 411 M -39% yoy After ₺ 9M -95% yoy • Operational profit is the
Slide 4: From Field to Production: Enhancing Efficiency & Output
From Field to Production: Enhancing Efficiency & Output with Harvesting and Solid Production Production K Tonnes Harvesting 2023 2024 30% 49.7 • The harvesting process of potatoes is progressing successfully securing 38.1 necessary raw potato stocks for year 2025 -2% • Harvest season will end by 127
Slide 5: Steady Sales Growth & Strategic Diversification
Steady Sales Growth & Strategic Diversification: Navigating Challenges with a Strong Channel Mix Total Sales Volume K Tonnes Sales Volume by 9 Months K Tonnes 19.4 16.4 16.0 47 K tonnes 5% YoY 15.6 14.9 To t a l S a l e s Vo l u m e 12.7 12.9 in 9M24 45.1 47.3 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 9M23
Slide 6: Diversified Sales Channels
Successfully Generating Real Growth Through Diversified Sales Channels Sales Volume Breakdown_K tonnes 3rd Party Sales Volume 9M 2024 12 K tonnes • 3rd party sales share reached 24% with a 6-point increase 39% YoY • Export sales volumes remained stable around 15% of total sales 100% S ale s V ol ume
Slide 7: Product Innovation and Sustainable Solutions
Strengthening Growth Through Product Innovation and Sustainable Solutions New Production Line Commitment to Sustainability On Schedule Remains Strong • Implementing co-generation capabilities to enhace efficiency and operational continuity Coated Onion Rings production set to begin in November 2024
Slide 8: 9M 2024 Financial Results Overview
9M 2024 Financial Results Overview 8
Slide 9: Performance in 3Q24 and 9M24 Before IAS 29
Performance in 3Q24 and 9M24 Before IAS 29 - Inflation Accounting 3Q24 3Q23 YoY% 9M24 9M23 YoY% Million ₺ Revenues 631 661 -5% 2,193 1,439 52% Operational Profit 264 291 -9% 846 537 58% Operational Profit 42% 44% -2pp 39% 37% 2pp margin % EBITDA 195 237 -18% 682 525 30% EBITDA margin % 31% 36% -5pp
Slide 10: Performance in 3Q24 and 9M24 After IAS 29
Performance in 3Q24 and 9M24 After IAS 29-Inflation Accounting 3Q24 3Q23 YoY% 9M24 9M23 YoY% YoY % Million ₺ Revenues 658 1,037 -37% 2,520 2,613 -4% Operational Profit 166 414 -60% 495 676 -27% Operational Profit 25% 40% -15pp 20% 26% -6pp margin % EBITDA 121 331 -63% 411 678 -39% EBITDA margin % 18
Slide 11: Impact of IAS 29 Inflation Accounting on 9M24 Net Profit
Impact of IAS 29 Inflation Accounting on 9M24 Net Profit Million ₺ Inflation Accounting Effects on Net Profit 45% 30% 25% 341 760 226 185 9 A 29 M a Ga d Ta A 29 G d 11
Slide 12: Strong Cash Position: Sustainable Cash Generation
Strong Cash Position: Sustainable Cash Generation Capabiliy – After IAS29 Million ₺ Generated Cash From Operations n o l Summary of Cash Flow M ll ₺ 2,520 2023 Year End Cash 1,190 cash expense COGS + G&A Generated Cash from Operations in 9M24 446 Decrease Revenues Increase in in Inventory Receivable
Slide 13: Near to Zero Debt and Effective NWC Management
Near to Zero Debt and Effective NWC Management – After IAS29 CAPEX M ll ₺ Net Debt l. Fu d M ll ₺ CAPEX / LTM Revenues % Net Debt / LTM EBITDA 350 12.0% 300 9.5% 10.0% 900 1.20 250 1.04 8.0% 200 800 6.0% 150 321 2.8% 1.00 2.1% 4.0% 100 700 98 2.0% 50 74 600 0.80 0 0.0% 9M23 2023 9M24 500 0.55 0.60 N
Slide 14: Appendix
wa) Appendix
Slide 15: Income Statement Summary for Jan – Sep 2024
Income Statement Summary for 1 Jan – 30 Sep 2024 After IAS29 Before IAS29 M ll ₺ 9M24 9M23 YoY % 9M24 9M23 YoY % Revenue 2,520 2,613 -4% 2,193 1,439 52% Cost of sales (-) (2,141) (1,911) 12% (1,473) (900) 64% Gross Profit 379 702 -46% 720 539 33% General and administrative expenses (-) (100) (80) 26
Slide 16: Balance Sheet Summary as of Sep 2024
Balance Sheet Summary as of 30 Sep 2024 After IAS29 Before IAS29 M ll ₺ 9M24 2023 YoD % 9M24 2023 YoD % ASSETS Current Assets Cash and cash equivalents 737 1,190 -38% 737 876 -16% Trade receivables 309 266 16% 309 196 58% Other receivables 1.6 2.2 -26% 2 2 0% Inventories 1,298 1,424 -9% 1,208 1,048
Slide 17: Balance Sheet Summary as of Sep 2024 (Liabilities and Equity)
Balance Sheet Summary as of 30 Sep 2024 After IAS29 Before IAS29 Million ₺ 9M24 2023 YoD % 9M24 2023 YoD % LIABILITIES Short-Term Liabilities Short-term borrowings - 505 -100% - 372 -100% Short-term portion of long-term financial borrowings 229 234 -2% 229 172 33% Payables from short-term rental tra
Slide 18: 3Q24 Financial Results in a Snapshot
3Q24 Financial Results in a Snapshot (Million ₺) Revenues Operational Profit EBITDA Net Profit -37% -63% -125% -60% 1,037 After IAS 29 414 331 153 658 166 121 3Q23 3Q24 3Q23 3Q24 3Q23 3Q24 3Q23 3Q24 (39) -5% -9% -18% 6% 237 Before IAS 29 661 631 291 264 195 187 198 3Q23 3Q24 3Q23 3Q24 3Q23 3Q24 3Q23
Slide 19: 9M24 Financial Results in a Snapshot
9M24 Financial Results in a Snapshot (Million ₺) Revenues Operational Profit EBITDA Net Profit -4% -27% -39% -95% 2,613 2,520 676 678 After IAS 29 164 495 411 9 9M23 9M24 9M23 9M24 9M23 9M24 9M23 9M24 52% 58% 30% 154% 2,193 760 Before IAS 29 846 682 525 1,439 537 300 9M23 9M24 9M23 9M24 9M23 9M24 9M
Slide 20: Investor Relations Contact
yatirimciiliskileri@atakey.com.tr www.atakey.com.tr