Oyak Cimento Fabrikalari A.s. · BIST:OYAKC
Oyak Cimento Fabrikalari A.s — OYAK Çimento Fabrikaları A.Ş. — 1H 2026 Earnings Presentation
46 slides from Oyak Cimento Fabrikalari A.s's earnings presentation, Aug 7, 2026
Slide 1: Financial Results 1H26
FINANCIAL RESULTS 1H26 07 August 2026
Slide 2: From East to West: Greener, Stronger & Together
From East to West: Greener, Stronger & Together
Slide 3: Key Messages & Highlights, Cement Sector, Operations, Projects & Sustainability, Financial Results
Key Messages & Highlights Cement Sector Operations Projects & Sustainability Financial Results Q&A 2
Slide 4: Key Messages & Highlights
&. Key Messages & Highlights GROUP HOLDINGS
Slide 5: Key Messages & Financial Highlights · Robust Performance
Key Messages & Financial Highlights · Robust Performance • Strong sales performance despite rising geopolitical risks and cost pressures. Net Sales (2Q26) (vs 1Q26) (vs 2Q25) Net Sales (1H26) (vs 1H25) Revenue reached TL 27.1 bn in 1H26 and 15,596 m ₺ (299 m €) +36% -5% 27,057 m ₺ (510 m €) -12% TL
Slide 6: Tier 1 Peer Analysis · Performances in 2Q26 vs 2Q25
Tier 1 Peer Analysis · Performances in 2Q26 vs 2Q25 -5% -10% 9% 16,375 15,596 14,394 13,000 Sales Revenue 7,012 7,665 OYAKC Competitor 1 Competitor 2 4% 3% -70% EBITDA 3,696 3,857 2,726 2,806 875 259 OYAKC Competitor 1 Competitor 2 2.1 pp 2.7 pp -9.1 pp EBITDA Margin (%) 22.6% 24.7% 21.6% 18.9% m TL
Slide 7: Tier 1 Peer Analysis · Performances in 1H26 vs 1H25
Tier 1 Peer Analysis · Performances in 1H26 vs 1H25 -12% -5% 5% 30,876 27,057 26,864 25,447 Sales Revenue 13,030 13,672 OYAKC Competitor 1 Competitor 2 -12% -6% -35% EBITDA 7,551 6,609 4,724 4,455 1,073 696 OYAKC Competitor 1 Competitor 2 -0.1 pp -0.1 pp -3.1 pp EBITDA Margin (%) 24.5% 24.4% 17.6% 1
Slide 8: Cement Sector
OYAK, CEMENT @ CIN\POR Cement Sector
Slide 9: The World's 5th Largest Cement Market & One of the Most Fragmented Industry Structures
The World's 5th Largest Cement Market & One of the Most Fragmented Industry Structures Black Sea Türkiye Clinker Prod. Cap. 11.2 M ton Clinker # of # of # of Integrated P. 8 Prod. Cap. Integrated P. Grinding P. # of Grinding P. 5 Marmara 101.3 56 24 Clinker Prod. Cap. 22.6 M ton M ton # of Integrate
Slide 10: Turkish Cement Sector · Domestic Sales 2025 vs 2024
Turkish Cement Sector · Domestic Sales 2025 vs 2024 Türkiye +9.7% +11.6% -1.0% +21.0% -2.6% +16.0% +8.5% +14.2% OYAK Cement Plants (integrated) Source: TCMB 9
Slide 11: Turkish Cement Sector · Domestic Sales 4M26 vs 4M25
Turkish Cement Sector · Domestic Sales 4M26 vs 4M25 Türkiye -4.3% +29.4% +27.4% -25.9% +5.5% +19.1% -34.1% -40.1% OYAK Cement Plants (integrated) Source: TCMB 10
Slide 12: Turkish Cement Sector · 4M26, 4M25 vs 4M24
Turkish Cement Sector · 4M26, 4M25 vs 4M24 Cement Production (m ton) Export (m ton) 2024 – 2025 2024 – 2025 26.0 25.4 24.8 -3% 6.5 7.5 7.0 +13% 2025 – 2026 2025 – 2026 5.0 5.2 -2% 4.9 -4% 1.6 2.4 1.8 Cement 4M24 4M25 4M26 4M24 4M25 4M26 Clinker Domestic Cement Consumption (m ton) Clinker Stock (m to
Slide 13: Turkish Cement Sector · 4M26 vs 4M25
Turkish Cement Sector · 4M26 vs 4M25 Cement Exports (‘000 ton) Clinker Exports (‘000 ton) 4M25 4M26 4M25 4M26 +5% -23% 5,242 2,374 4,982 1,818 2,485 2,341 276 246 366 559 381 488 245 177 213 171 188 83 153 152 99 150 99 126 USA Syria Italy Bulgaria Haiti Total Italy USA Ivory Coast Syria TRNC Total
Slide 14: Operations
@ Operations Potcc GROUP HOLDINGS
Slide 15: Only Building Materials Platform with Full Nationwide Coverage
Only Building Materials Platform with Full Nationwide Coverage 1 Romania Zonguldak İstanbul Cement Capacity Kocaeli Ordu Rize 5 1 3 24 m ton 1 Trabzon 1 3 4 1 Bolu 1 1 3 1 1 Ankara 1 Concrete Capacity 8 13.5 m m 3 1 1 4 Aggregates Capacity 1 1 1 7.8 m ton 2 Denizli 2 2 1 1 1 2 1 2 Mardin 1 1 2 Gazia
Slide 16: A Strategic Port & Terminal Network Enabling Regional Market Access
A Strategic Port & Terminal Network Enabling Regional Market Access United Kingdom – Terminal Bristol Romania – Terminal Mangalia France – Terminal Rouen Türkiye – Ünye Port France – Terminal Port la Nouvelle Türkiye – Terminal Çayeli Türkiye – Aslan Port Portugal – Terminal Viana Do Castelo TRNC –
Slide 17: Projects & Sustainability
Potcc GROUP HOLDINGS Projects & Sustainability
Slide 18: Sustainability Targets Drive Long-Term Value
Sustainability Targets Drive Long-Term Value The first cement company in Türkiye to make a “Net Zero” commitment Operational efficiency Readiness to regulatory changes Alternative Fuel Usage 58.0% 27.9% 27.3% Superior financial performance 24.0% 17.0% 6.0% 2016 2020 2024 2025 1H26 2030 Sustainabilit
Slide 19: Strengthening Long-Term Competitiveness Through Sustainable Investments
Strengthening Long-Term Competitiveness Through Sustainable Investments Solar Projects • Beypazarı Solar Power Plant, with an installed Renewable Energy Usage % capacity of 115 MWp, is the largest renewable 20% energy project in Türkiye developed by an industrial manufacturer at a single site exclus
Slide 20: Alternative Fuel Usage · Türkiye vs OYAK Cement
Alternative Fuel Usage · Türkiye vs OYAK Cement CAGR* +19.8% 28.0% 27.3% 25.2% 24.6% 22.5% 22.6% CAGR* +14.2% 17.4% 12.3% 12.0% 12.5% 13.0% 10.3% 7.9% 7.8% 7.7% 8.0% 4.5% 6.6% 0.6% 2017 2017 2018 2018 2019 2019 2020 2020 2021 2021 2022 2022 2023 2023 2024TR 2024 2025TR 2025 2025 1H26 TR OÇF TR OÇF T
Slide 21: Alternative Fuel Supply & Usage Comparison
Alternative Fuel Supply & Usage Comparison Industry AF Usage Quantity 2017/2025 2.500 35,0% 30.3% 29.0% 26.9% 2.000 26.4% 25.4% 25.3% 30,0% +14.9% 21.2% 25,0% 19.9% 19.9% (CAGR) 1.500 20,0% 2,311 2,101 15,0% 1,793 701 1.000 1,576 565 1,448 OYAK Cement AF Usage 454 420 10,0% 1,155 400 304 Quantity 20
Slide 22: Alternative Fuel Usage · EU Cement Industry vs OYAK Cement 1H26
Alternative Fuel Usage · EU Cement Industry vs OYAK Cement Alternative Fuel Usage Over an 8-Year Period 56% 30% Alternative Fuel Usage in the EU Cement Industry Over a 20-Year Period 21% 28% 27% 25% 23%23% 25% TR Av 13% 17% 12% 7% 8% 1993 2002 1990 1991 1992 1994 1995 1996 1997 1998 1999 2000 2001 2
Slide 23: Financial Results & Highlights
Financial Results & Highlights
Slide 24: Financial Results · Improved Performance in 2Q26 vs 1Q26
Financial Results · Improved Performance in 2Q26 vs 1Q26 SALES REVENUE (m TL) EBITDA (m TL) NET INCOME (m TL) 18,927 22.6% 30.6% 24.7% 24.0% 24.7% 20.7% 22.0% 8.2% 1.0% 13.4% 16,375 16,734 15,596 -5% +4% -38% YoY YoY YoY 11,461 +36% +40% +1,800% QoQ 5,797 QoQ QoQ 4,134 3,857 3,696 2,752 3,383 4,171
Slide 25: Financial Results · Resilience at EBITDA Margin Despite Challenges
Financial Results · Resilience at EBITDA Margin Despite Challenges SALES REVENUE (m TL) EBITDA (m TL) NET INCOME (m TL) 24.5% 24.4% 15.5% 8.1% -12% -12% -54% YoY YoY YoY 30,876 27,057 7,551 6,609 4,778 2,194 1H25 1H26 1H25 1H26 1H25 1H26 EBITDA and Net Income Margin (%) IAS-29 applied financials 24
Slide 26: Net Working Capital · Sustainable Level With Highest Collateralization
Net Working Capital · Sustainable Level With Highest Collateralization 19% 16% 16% 17% 20% 24% NWC as a % of Sales Revenue (LTM) 11,498 NWC (m TL) 12,189 10,695 10,478 10,020 9,663 9,226 8,095 7,584 7,315 8,052 9,478 10,718 6,139 9,105 9,882 9,618 8,370 -7,414 -8,104 -9,352 -8,766 -8,004 -7,067 - -4
Slide 27: Net Cash (Debt) Development · Solid Balance Sheet for Future Investments
Net Cash (Debt) Development · Solid Balance Sheet for Future Investments Net Cash (Debt) m TL Net Cash (Debt) / EBITDA (LTM) -2,824 2,130 9,448 12,870 12,856 11,714 11,104 0.74 0.67 0.62 0.62 10,029 0.47 16,274 9,791 12,230 11,795 7,099 0.14 6,432 2,205 3,200 974 1,463 1,193 1,123 1,579 2021 2021 -9
Slide 28: Free Cash Flow
Free Cash Flow m TL 6,609 FCF/ EBITDA 1H26 -3,818 -572 -6,977 -19% -4,813 -3,484 FCF/ EBITDA* -1,945 -1,265 34% m TL 7,551 FCF/ EBITDA -2,439 1H25 -1,223 3% FCF/ EBITDA* -10,089 52% -3,664 225 EBITDA NWC Change Tax Payments CAPEX Free Cash Flow * Without CAPEX IAS-29 applied financials 27
Slide 29: Q&A
@ Q&A CIN\POR Ay GROUP HOLDINGS
Slide 30: Appendix
@ Appendix GROUP HOLDINGS
Slide 31: TCC Group Holdings (TCC) · Building a Green Future
TCC Group Holdings (TCC) · Building a Green Future TCC at a Glance TCC Global Operations 1,010 MWh Energy Storage Capacity • Founded on May 1, 1946. • Reorganized as TCC on January 1, 1951 Italy France Spain Australia US • Privatized in 1954 and management was taken over by the Koo family. 857k tons
Slide 32: Group's Global Footprint
Group’s Global Footprint Taiwan Cement Capacity Clinker Capacity China 77.0 m ton 65.8 m ton United Kingdom France Cement Capacity Clinker Capacity Netherlands 35.0 m ton 18.0 m ton Portugal Integrated Grinding Calcined Clay Ports Facility Facility Facility Romania 10 7 3 4 Paper & Türkiye RMX Aggre
Slide 33: Milestones · Step Towards Global Building Materials Company
Milestones · Step Towards Global Building Materials Company The first Turkish cement company to make the Merger of OYAK The largest Solar and "Net-Zero" Çimento, Denizli WHR investments Beypazarı SPP has been commitment Çimento and OYAK in Turkey commissioned at full Çimento Fabrikaları capacity as
Slide 34: OYAK Cement · Key Investment Highlights
OYAK Cement · Key Investment Highlights ✓ Market leader in Türkiye Operates in 3 countries, 7 regions in Türkiye with 24 m tons installed cement capacity & 12.6 m tons clinker capacity ✓ One of the leading white cement producer 1 m tons of white clinker capacity ✓ Wide product portfolio for building
Slide 35: OYAK Cement · Ratings & Indices
OYAK Cement · Ratings & Indices • TCC Group Holdings: • Long-Term Credit Rating BBB- / Stable (Fitch Ratings) • Long-Term Credit Rating BBB- / Stable (S&P Global Ratings) • OYAK - Ordu Yardımlaşma Kurumu: • Long-Term Credit Rating BB- / Stable (Fitch Ratings) • Long-Term Credit Rating Ba3 / Stable (
Slide 36: Cement Product Portfolio
Ga Cement Product Portfolio CEMENT 1 CEMENTUM + CEM IAS 42,5R + CEM II/A-M |S-\) 42,5R, + CEM IVA-LLA2,5R + CEM I/A-M [P-LL) 42,5R + CEM I/A-M |S-LL) 42,5R dota GROUP HOLDING f POWERCEM NOVOCEM i DuRACEM i puracem+ + CEM 1/8 |S) 22,5N-SR + CEM I/B-M (S-¥) 42.5 + CEM 1I/C-M (P-LL) 32,5N + CEM I/B-M (
Slide 37: OYAK Concrete · The Brand Name of Big-Ticket Projects
OYAK Concrete · The Brand Name of Big-Ticket Projects 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 production cost it
Slide 38: Awards
Awards ÇEİS Those Who Add European Risk TIDE Awards 2025 OYAK Cement in 7 Value to OHS Awards Management Awards WisdomTree Indexes 2025 2025 International Legal 500 GC Powerlist: Certificate ÇEİS Those Who Add Investment Portugal Team 2025 Madway 2025 Value to OHS Awards Awards 2025 2025 Capital 500
Slide 39: Income Statement
Income Statement m TL 2Q26 2Q25 ∆ 1H26 1H25 ∆ Revenue 15,596 16,375 -5% 27,057 30,876 -12% Cost of sales -11,622 -12,557 -7% -20,630 -23,324 -12% Operating expenses -1,388 -1,257 10% -2,364 -2,253 5% Other operating income / (expenses) 27 17 58% 225 234 -4% Operating profit / (loss) 2,614 2,577 1% 4
Slide 40: Balance Sheet
Balance Sheet m TL 1H26 YE25 m TL 1H26 YE25 Current assets 36,949 38,409 Current liabilities 15,092 17,108 Cash and cash equivalents 12,230 16,274 Short term borrowings 2,706 3,100 Financial investments 1,579 1,123 Trade payables 7,067 8,766 Trade receivables 11,498 10,478 Other current liabilities
Slide 41: Cash Flow
Cash Flow m TL 1H26 1H25 A. CASH FLOWS FROM OPERATING ACTIVITIES 1,566 1,827 Profit for the Period 2,194 4,778 Adjustments Related to Reconciliation of Net Profit for the Period 4,423 1,741 Adjustments Related to Depreciation and Amortization Expenses 2,322 2,018 Changes in Working Capital -3,508 -2
Slide 42: Financial Results · Quarterly Revenue and EBITDA Development
Financial Results · Quarterly Revenue and EBITDA Development Quarterly Revenue (m TL) L12M* Revenue (m TL) 55,067 51,496 51,867 48,436 44,546 41,509 39,289 36,102 32,012 15,049 14,095 15,433 9,196 11,159 11,035 10,118 12,233 10,490 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 2Q24 3Q24 4Q24 1Q25 2Q2
Slide 43: Disclaimer
Disclaimer This presentation (Presentation) has been prepared by OYAK Çimento Fabrikaları A.Ş. for the sole purpose of providing information relating to OYAK Çimento Fabrikaları A.Ş. This Presentation is based on public information and data provided by OYAK Çimento Fabrikaları A.Ş. management and ba
Slide 44: Contact Information
Contact Information Ali Onur AYGÜN Country Director – Financial Affairs Sena ATAY Investor Relations Manager Ihsan Alper ALTUN OYAK Cement Contact Investor Relations Analyst Information : yatirimciiliskileri@oyakcimento.com investor.relations@oyakcement.com +90 312 220 01 12
Slide 45: Thank you!
Thank you! 謝謝 ! Dank je! Obrigado/Obrigada! Teşekkürler! Merci! Mulțumesc!
Slide 46: fbTcc
fbTcc GROUP HOLDINGS
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