Polisan Holding As · BIST:POLHO
Polisan Holding As — Investor Presentation (March 2020)
31 slides from Polisan Holding As's investor presentation, March 2020
Slide 1: Polisan Holding March 2020
Polisan HOLDING March 2020
Slide 2: Notice
NOTICE This presentation may contain statements that are forward looking. These statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially due to factors discussed in Polisan Holding’s prospectus filed
Slide 3: Polisan Holding: Grows via New Partnerships and Business Lines
POLİSAN HOLDİNG: GROWS VIA NEW PARTNERSHIPS AND BUSINESS LINES * CHEMICAL PORT PAINT REAL ESTATE AGRICULTURE ACTIVITIES OPERATIONS 100% 100% 100% 100% FOREIGN PARTNERSHIPS 40% 50% OPERATIONS HAVE BEEN FOREIGN 100% HALTED AS OF OPERATIONS 99% APRIL 16, 2019 3 * The ratios in this graphfic show Polisa
Slide 4: Polisan Holding Strategy: Maximizing Shareholder Value
POLİSAN HOLDİNG STRATEGY: MAXIMIZING SHAREHOLDER VALUE Sustaining Profitable Growth of Existing Businesses Maximizing Intra-Group Synergies Forming Strategic Alliances for Expansion into High Margin, New Business Lines Exploring New Markets and Becoming a Global Brand through Polisan’s Innovative Pr
Slide 5: Executing Strategic Priorities Since IPO
POLİSAN HOLDİNG: EXECUTING STRATEGIC PRIORITIES SINCE IPO CAGR 2012 - 2019 200 2,011 32000,00% 1,934 Revenue: 19.6% 30000,00% 28000,00% 15.1% 700 EBITDA: 21.9% 26000,00% 1,501 13.5% 24000,00% 22000,00% 1,092 20000,00% 200 1,022 14.2% 18000,00% 869 15.5% 16000,00% 657 15.0% 14000,00% 700 574 12000,00
Slide 6: Continued Focus on Profitability
POLİSAN HOLDİNG: CONTINUED FOCUS ON PROFITABILITY Combined Revenues: TRY2,011.2 mln Consolidated Revenues: TRY1,013.1 mln Other 5% Other Chemical -1% Activities Port 42% 17% Paint 44% Chemical Activities 84% Port 9% Combined EBITDA: TRY303.2 mln (EBITDA Margin: 15.1%) Consolidated EBITDA: TRY107.5 m
Slide 7: Turkey Paint Industry: 5th Largest Market in Europe
TURKEY PAINT INDUSTRY: 5. LARGEST MARKET IN EUROPE TURKEY PAINT INDUSTRY POLİSAN KANSAİ BOYA With ~$1.7 billion, Decorative Segment, which has Growing Production Over the Years Europe’s 5th largest market ~61% share, drives growth 2% 2% 1% 1% 4% 6% 7% 7% 61% 9% 1985 1987 1989 1991 1993 1995 1997 199
Slide 8: Polisan Kansai Boya's Differentiation Strategy: Excellence
POLİSAN KANSAİ BOYA’S DIFFERENTIATION STRATEGY: EXCELLENCE 1 PRODUCT 2 SALES 3 SERVICE 4 QUALITY § Introduced the World to § Turkey’s first water-based § World’s first exterior § Global brand awareness the Home Cosmetics new generation mix system insulation insurance with quality certificates concep
Slide 9: Strategy: Continued Leadership with Profitable Growth
STRATEGY: CONTINUED LEADERSHIP WITH PROFITABLE GROWTH There are 18 million households in Turkey to be renovated and insulated Young & growing Mandatory insulation of Renovation and new population exterior walls buildings Insulation Revenues Auxiliary Products Revenues INDUSTRIAL 2008-2019 CAGR: 33%
Slide 10: Future: Reinforcing Polisan Kansai Boya's Leadership
FUTURE: REINFORCING POLİSAN KANSAI BOYA’S UNDISPUTED LEADERSHIP 50% PARTNERSHIP WITH KANSAI PAINT PRODUCTION AT THE NEW FACILITY HAS COMMENCED Ø Kansai Paint’s main products are automotive, industrial, Ø New paint production and warehouse facility located on a decorative, protective and auto refinis
Slide 11: Turkey Seaborne Trade: 5th in Europe
TURKEY SEABORNE TRADE: 5th IN EUROPE TURKEY HAS OUTPACED EU PORTS WITH 46% GROWTH OVER 10 YEARS TURKEY RANKS 5th IN EUROPE IN SEABORNE TRADE Million Tons 600.000 605 560 491 500.000 483 460 460,154 400.000 305 314,609 300.000 200.000 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Netherlands
Slide 12: Turkey Seaborne Trade: Marmara Region Handles the Bulk of Cargo
TURKEY SEABORNE TRADE: MARMARA REGION HANDLES THE BULK OF CARGO CARGO HANDLED IN TURKEY IN 2019 TOTALED 484 MILLION TONS CARGO TYPES Container General Cargo 25% 11% Vehicle 9% 1% 38% Black Sea Marmara Dry Bulk Bulk Liquid 31% 32% 17% REGIMES Aegean Cabotage 12% 36% Mediterranean Transit 15% Foreign
Slide 13: Kocaeli Gulf: Pioneer in Turkey and Among Top 10 in EU
KOCAELI GULF: PIONEER IN TURKEY AND AMONG TOP 1O IN EU KOCAELİ GULF IS TURKEY’S STRATEGIC GATEWAY LOCATED WHERE 45% OF TURKEY’S GDP IS GENERATED 2. IN TOTAL CARGO HANDLED Ø Among EU’s 10 Major Ports Ø 1st in Foreign Trade (Import/Export) Ø 1st in Cargo Handled (Turkey’s total) 353 mln ton/2019 484 m
Slide 14: Poliport: Poised for Profitable Growth
POLİPORT: POISED FOR PROFITABLE GROWTH POLİPORT GROWTH* EXCEEDS THAT OF TURKEY’S GDP LONG TERM GROWTH POTENTIAL CONTINUES THROUGH OPPORTUNITIES 7.3% ü New business opportunities with multinational companies 4.9% ü Change in the supply-demand balance in favor of Poliport ü Increasing revenues and pro
Slide 15: Poliport: Leading Independent Chemical Storage Terminal
POLIPORT: LEADING INDEPENDENT CHEMICAL STORAGE TERMINAL 2019 REVENUE SHARE § Handling Turkey’s 3rd largest export item; Chemicals § Reputable clientele since 1990‘s BULK LIQUID § 271,000 m3 capacity STORAGE § 166 tanks (size: 100 m3 – 9,300 m3) 63% SERVICES § Terminal Capacity: 2.5 million tons § Je
Slide 16: Poliport: Capacity Increase Continues
POLİPORT: CAPACITY INCREASE CONTINUES WITH A SELECTIVE MANNER TEM Highway Railway 3 3 Warehouse Bulk Liquid 2 1 Storage Dry Bulk and General Cargo Bulk Liquid Loading & Loading & Unloading Unloading ü Services on 142,565 m2 land ü Terminal and General Cargo Services total handling capacity: 7.5 mln
Slide 17: Chemical Activities: Expanding Internationally
CHEMICAL ACTIVITIES: EXPANDING INTERNATIONALLY... FOREIGN INTERNATIONAL TURKEY INVESTMENT PARTNERSHIP POLİSAN ROHM & HAAS POLİSAN POLİSAN KİMYA (DOW) MAROC HELLAS (Chemicals) (Construction Chemicals) § Polisan Kimya - a subsidiary § International investment in § Operational in Greece § Formaldehyde
Slide 18: Polisan Kimya: Turkey's Leading Chemicals Producer
POLİSAN KİMYA: TURKEY’S LEADING CHEMICALS PRODUCER PRODUCTS § 1st formaldehyde resin producer in Turkey to be used in production (wood REVENUE SHARE* particleboard, paper impregnation, MDF, plywood), and insulation (glass wool, rock wool) § Turkey ranks 5th in the world in wood panel consumption whe
Slide 19: Polisan Hellas: PET Business in Greece
POLİSAN HELLAS: PET BUSINESS IN GREECE TRANSACTION HIGHLIGHTS POISED FOR GROWTH THROUGH EXPORTS Ø The sole Polyethylene Terephthalate (PET) resin and preform Ø Polisan Hellas purchased 100% of the assets of Artenius producer in Greece and the Balkans Hellas in Greece Ø Focus on compensating for the
Slide 20: Polisan Holding's Properties
POLİSAN HOLDİNG’S PROPERTIES ONGOING PROJECTS PRODUCTION FACILITIES OTHER PROPERTIES Z OFFICE PENDIK POLIPORT POLISAN LANDS & REAL ESTATES 26 shops, 73 offices 172,980 m2 land 154,672 m2 90,142 m2 Partially available to invest TRY55 mln* TRY231 mln TRY418 mln** TRY161 mln TRY296 mln • Rapid urbaniza
Slide 21: Polisan Tarım: Operations Halted as of April 16, 2019
POLİSAN TARIM: OPERATIONS HAVE BEEN HALTED AS OF APRIL 16, 2019 WALNUT OLIVE STEVIA ü Cooperation with Atatürk ü On 4.4 million square ü On 2.5 million square University, Faculty of meter land in Balıkesir meter land in Karacasu Agriculture ü Development of 100% native variety including highly usefu
Slide 22: Exports and Value Added Products Contributed to Profitability
POLİSAN HOLDİNG: EXPORTS AND VALUE ADDED PRODUCTS CONTRIBUTED TO PROFITABILITY CONSOLIDATED (TRY mln) REVENUE EBITDA & EBITDA MARGIN NET INCOME CAPEX 160 20,00% 63.2 1,163.3 140 101.3 16,00% 1,013.1 120 84.5 13.0% 100 10.6% 11.5% 12,00% 35.5 80 30.3 151.8 8,00% 60 7.9% 20.3 338.1 107.5 3.3% 30.7 262
Slide 23: Strong Revenue and EBITDA Achieved with the New Paint Facility
POLİSAN HOLDİNG: STRONG REVENUE AND EBITDA ACHIEVED WITH THE NEW PAINT FACILITY 2019 Combined Revenues 2018 – 2019 Revenue and EBITDA Margin Evolution 2000 51.3% 50% Chemical Other Activities 4.9% 44.1% 40% 42.2% 1500 30% 1000 15.1% 20% 13.0% 13.5% 11.4% 10.6% 500 9.3% 8.1% Port 10% -0.5% Operations
Slide 24: Polisan Holding: 2019 Cash Position
POLİSAN HOLDİNG: 2019 CASH POSITION TRY mln* - 2019 BALANCE SHEET TRY FX 48% Balance Sheet (TRY mln) 2018 2019 Cash 179.0 Cash & Cash Equivalents 153.8 179.0 52% Other Current Assets 680.0 616.9 Non-Current Assets 1,539.0 1,666.5 2% TOTAL ASSETS 2,219.0 2,283.4 Short Term Financial Debt 324.1 228.9
Slide 25: Polisan Holding: Poised for Further Growth
POLİSAN HOLDİNG: POISED FOR FURTHER GROWTH PORT CHEMICAL REAL PAINT OPERATIONS ACTIVITIES ESTATE AGRICULTURE Revenue Revenue Revenue Z Office Walnut CAGR: 14.7% CAGR: 20.6% CAGR: 28.6% Project: plantation on Completed in 4.4 mln m2 EBITDA CAGR: EBITDA CAGR: EBITDA CAGR: 2014 land 24.4% 24.1% 14.7% O
Slide 26: Back Up
Polisan HOLDING
Slide 27: Polisan Holding: Milestones
POLİSAN HOLDİNG: MILESTONES “Polisan of the Future” Transformation Program 2019 2018 Polisan Boya 2017 New paint facility EPD Certificate commenced 2016 production 2015 50% Partnership 2014 Pendik Project Z Office 2013 Project Launch of Polisan POS 2012 Loyalty Program 2011 Introduced «Home 2009 Cos
Slide 28: Polisan Holding: Board of Directors
POLİSAN HOLDİNG: BOARD OF DIRECTORS Bundesaufbau Gymnasium University of Boston ,USA Production Engineer (BSc) Deutsche High School Wirtschafts Universität (BSc), Austria and Mechanic Engineer (MSc) Bosphorus University, Industrial Engineer Chairman of the Board of Polisan Chairman of the Board of P
Slide 29: Polisan Holding: Senior Management
POLİSAN HOLDİNG: SENIOR MANAGEMENT Galatasaray High School İstanbul Technical University, Business Engineering Middle East Technical University, Department of Economics Koç University (MBA) Southeastern University (MBA in Financial Management) 2001 - 2011 Koç Holding Audit and Finance Group 1988 Inv
Slide 30: Social Responsibility Projects and Sponsorships
SOCIAL RESPONSIBILITY PROJECTS AND SPONSORSHIPS WOMEN YOUTH ENVIRONMENT/ART Ø EVERY VOICE, ONE BREATH Ø POLİSAN SCHOOLS Ø 100,000 trees Ø Since 2012 Ø M. Emin Bitlis Primary School Ø International İstanbul Biennial Ø Has been granted 3 Ø Polisan Secondary School Official Sponsorship prestigious awar
Slide 31: Thank You
THANK YOU Telephone 0 216 5785600 Fax 0 216 5737792 yatirimciiliskileri@polisanholding.com.tr E-mail investorrelations@polisanholding.com.tr www.polisanholding.com.tr