Slide 1: Koç Holding 2021 Earnings Presentation
KOÇ HOLDING 2021 EARNINGS PRESENTATION 17 FEBRUARY 2022 2021 Earnings Presentation
Slide 2: Agenda
Agenda Koç Holding Key Indicators Highlights on Main Sectors Unlisted Companies Our ESG Journey Historical NAV 2 2021 Earnings Presentation
Slide 3: Agenda
Agenda Koç Holding Key Indicators Highlights on Main Sectors Unlisted Companies Our ESG Journey Historical NAV 3 2021 Earnings Presentation
Slide 4: Focus on Sustainability and Resilience
Focus on Sustainability and Resilience Sectoral & Geographical Diversification Net Asset Value Breakdown by Sector1 International Revenues / Total Combined Revenues Auto 53% (PC & CV Manufacturing) 32% including FX linked 39% 31% revenues of Tüpraş Auto (Other) Finance 12% 11% Refining Cash inc. 12%
Slide 5: Business Model Ensures Sustainability of Dividend Income
Focus on Sustainability and Resilience Business Model Ensures Sustainability of Dividend Income Dividend Income Dividend Payout1 TL Million TL Million Dividend Net Income 3,497 2019 2020 2021 y/y 2021 y/y Adjusted Dividend Payout2 Tüpraş (via EYAŞ) 1,489 - - n.m. 3,319 n.m. Dividend 18% 12% 16% 24%
Slide 6: Solid Liquidity Maintained
Focus on Sustainability and Resilience Solid Liquidity Maintained Net Cash Bridge TL Million = USD 375mn = USD 275mn Net cash including Net cash including YKB AT1 as of 2020YE - 1,770 - 915 YKB AT1 + 3,497 + USD 1.9bn 3,566 1 + USD 1.8bn Gross cash including 2,754 1 Gross cash including YKB AT1 as o
Slide 7: Key Metrics
Key Metrics Fundamentals Remain Intact on the Back of Prudent Management Strong Cash Position Solid Liquidity Flat FX Position USD 275mn 1.4x Flat Solo Current Ratio Solo Net Cash on Combined Basis2 FX Position + USD 1.6bn + USD 196mn Gross cash Consolidated FX position TL Hard Currency after natura
Slide 8: Agenda
Agenda Koç Holding Key Indicators Highlights on Main Sectors Unlisted Companies Our ESG Journey Historical NAV 8 2021 Earnings Presentation
Slide 9: Energy
Energy Rebound in Refining Margins and Inventory Gains Delivered a Positive Bottom-Line Domestic Market Sales Volume Crack Margins 2021 Highlights Million Tonnes USD/bbl, Monthly Diesel Jet Fuel Gasoline Growth in domestic demand y/y +4% +37% +24% +1.3% Growth 12.7 Inventory gains 10.8 23.1 24.0 Hig
Slide 10: Automotive
Automotive Solid Export Contracts, Favorable Product Mix and Currency Tailwinds Sales Volume Monthly Growth Trend 2021 Highlights Thousand Units y/y Koç Total Turkey Exports Ma rket Share 16% 58% 22% 26% 43% Domestic commercial vehicle market growth Passenger Cars (Turkey) Light Commercial (Turkey)
Slide 11: Consumer Durables
Consumer Durables Newly Acquired Operations and Currency Tailwinds Supported Top Line Growth Sales Volumes Across Markets1 Monthly Growth Trend 2021 Highlights Million Units y/y " Koç Ma rket Share 20% 68% 26% 30% 41% Strong domestic and international revenues y/y +9% +3% +12% +18% +18% Turkey Expor
Slide 12: Finance
Finance Strong ROTE Performance Driven by Lower Net Cost of Risk and Stellar Fee Income TL Lending Growth Sector’s Loans & Deposits 2021 Highlights 13 Weeks Annualized TL, USD Billion Small ticket loan growth and increased share of demand deposits 120% Private 2021 q/q ytd 100% Lower CoR on the back
Slide 13: Group's 2021 Financial Performance
Group’s 2021 Financial Performance Robust y/y Performance at all Segments Financial Performance TL Million Consumer Energy Automotive Finance Other TOTAL Durables Combined Revenues1 229,549 139,015 76,889 73,514 25,365 544,332 Change (y/y) 98% 41% 63% 63% 38% 68% Segment Share in Total 42% 26% 14% 1
Slide 14: Agenda
Agenda Koç Holding Key Indicators Highlights on Main Sectors Unlisted Companies Our ESG Journey Historical NAV 14 2021 Earnings Presentation
Slide 15: Value within Unlisted Companies
Value within Unlisted Companies Eye-catching Performance of Unlisted Companies Unlisted Financials TL Million An integrated player in the electricity market Revenues EBITDA1 Book Value (SHE) • Total installed capacity 436 MW2 2021 y/y 2021 y/y 2021 y/y • Acquired first wind power plant in 2021 – 60
Slide 16: Agenda
Agenda Koç Holding Key Indicators Highlights on Main Sectors Unlisted Companies Our ESG Journey Historical NAV 16 2021 Earnings Presentation
Slide 17: Our ESG Journey
Our ESG Journey We are committed to be carbon neutral by 2050 Koç Group has committed to be carbon neutral by 2050 We have launched the Carbon Transition Program across the Koç Group • Analyze climate-related risks & opportunities, and devise action plans • Set the Group’s roadmap & goals toward
Slide 18: Agenda
Agenda Koç Holding Key Indicators Highlights on Main Sectors Unlisted Companies Our ESG Journey Historical NAV 18 2021 Earnings Presentation
Slide 19: Historical NAV Discount
Historical NAV Discount Unwarranted NAV Discount Given Strong Fundamentals, Initiation of Buyback Program Relative Share Performance of Koç Holding vs. Koç Group1 Effective Ownership Adjusted Mcap Changes of the Listed Portfolio Companies Rebased at 2020YE USD Million 100% 314 1 80% 8,578 334 -17 63
Slide 20: Q&A
Q&A 2021 Earnings Presentation
Slide 21: Appendix - Consolidated Key Financial Figures
Appendix - Consolidated Key Financial Figures Consolidated Main Financial Indicators Consolidated Net Income TL Million TL Million 2020 2021 y/y + 187 + 548 + 2,530 Revenues 183,777 346,689 89% 15,193 + 2,631 Gross Profit 44,331 80,064 81% - 3,380 + 3,405 Operating Profit 16,832 34,675 106% Profit B
Slide 22: Appendix - Unlisted Companies
Appendix - Unlisted Companies Unlisted Summary Financials TL Million Koç Holding Revenues Operating Profit1 EBITDA Book Value (SHE) Direct Share 2020 2021 2020 2021 2020 2021 2020 2021 Arçelik LG Klima 5.00% 1,385 2,105 117 126 136 146 438 528 Bilkom 69.94% 4,436 5,442 147 180 151 183 273 283 Düzey
Slide 23: Appendix - 2022 Expectations of the Listed Group Companies
Appendix - 2022 Expectations of the Listed Group Companies TÜPRAŞ 2021A 2022E TOFAŞ 2021A 2022E ARÇELİK 2021A 2022E Sector Sector ('000) Revenue 67% >60% Med Complex ($/bbl) 1.6 2.0-3.0 Total TR LV Sales 737 700-750 Turkey (in TL) 47% ~35% Tüpraş Tofaş ('000) International (in FX) 36% ~20% Net Margi
Slide 24: Appendix - Shareholding Structures
Appendix - Shareholding Structures Koç Holding Koç Family: 64.3%1 Free Float: 26.4% Vehbi Koç Foundation: 7.3% Koç Pension Fund: 2% Share Buyback: 0.04% Consumer Energy Automotive Finance Other Durables Tüpraş Ford Otosan Arçelik Yapı Kredi Bank Tat Gıda EYAŞ: 51% KH: 39% KH: 41% KH: 9.02% KH: 44% F
Slide 25: Contact Koç Holding Investor Relations
Contact Koç Holding Investor Relations investorrelations@koc.com.tr www.koc.com.tr Nursel Ilgen, CFA, Coordinator Investor Relations nurseli@koc.com.tr +90 216 531 0414 Neslihan Aycıl, Manager Investor Relations neslihana@koc.com.tr +90 216 531 0516 Sinem Baykalöz, Manager Investor Relations sinemb@
Slide 26: Disclaimer
Disclaimer This presentation does contain forward-looking statements that reflect the Company management’s current views with respect to certain future events based on the base-case assumptions. Although it is believed that the expectations reflected in these statements are reasonable, they may be a