Konfrut Tarim A.s. · BIST:KNFRT
Konfrut Tarim A.s — Konfrut — H1 2023 Earnings Presentation
23 slides from Konfrut Tarim A.s's earnings presentation, June 2023
Slide 1: Investor Presentation 2023-H1 Financial Results
Konfrut Investor Presentation 2023-H1 Financial Results KONFRUT INVESTOR PRESENTATION 2023-H1
Slide 2: Contents
Contents • Highlights • Konfrut AG at a Glance • Market Dynamics • Konfrut AG Business Units • Operations • Post-Period Developments • Consolidated Financial Results • Stock Performance KONFRUT INVESTOR PRESENTATION 2023-H1 2
Slide 3: Highlights
Highlights Sales • In 2023-H1 consolidated sales grew by 35% YoY on volume basis, Consolidated Financial Summary driven by growth in the second quarter of the year. for 2023-H1 • New orders were received in fresh fruit and vegetable exports with high growth potential. 101 thousand tons 35% 802 milli
Slide 4: Konfrut AG at a Glance
Konfrut AG at a Glance Business Units In 2023-H1; Approximately Agri Sourcing and Services 74,351 tons 40K decares Leading the Agricultural Transformation Agri Sourcing Supply Contracted Agricultural Areas The only one company in Turkey which 66,372 tons 240+ Numbered Vehicle and Equipment Fleet* Lo
Slide 5: Market Dynamics
Market Dynamics Expectations abroad that access to food will become more difficult and domestic supply problems emphasize the importance of the agricultural sector. • In 2023-H1, there was a decrease in the World Food Food Price Index, World (Annually) Price Index announced by the United Nations Foo
Slide 6: Market Dynamics: Production and Cost in Turkey
Market Dynamics 2021 2022 2023 Production and Cost in Turkey 160 %138.2 140 120 Agricultural Input Price Index 100 Annual Change Rate (%), June 2023 80 %57.3 • The downtrend in the Agricultural Input Price Index 60 %29.4 continues after reaching its peak in September last 40 year. 20 %27.7 • Accordi
Slide 7: Market Dynamics: Production and Fresh Fruit & Vegetable Exports
Market Dynamics 2020 2021 2022 13.2 13.113.0 Production in Turkey and Fresh Fruits &Vegetables Exportation Million tons Production Data 4.5 With Selected Fruit and Vegetable Groups 4.3 4.8 3.9 3.5 3.4 1.5 1.7 1.3 0.6 1.5 0.70.7 0.6 0.7 1.2 1.3 1.3 0.5 0.5 1.4 1.3 0.5 0.6 0.5 0.6 0.8 Strawberry Pomeg
Slide 8: Konfrut AG Business Units
Konfrut AG Business Units Agri Sourcing Agri Hauling Logistics Green Energy Agri Input Products Transportation Pomace & Fertilizer Agri Trading Warehousing Packaging KONFRUT INVESTOR PRESENTATION 2023-H1 8
Slide 9: Operations: Agri Sourcing Business Unit in 2023-H1
Operations Agri Sourcing Business Unit in 2023-H1 Agri Sourcing Supply • In 2023-H1, 74 thousand tons agri sourcing • Within the scope of contract farming with farmers, more than twenty different types of fruit origination was supplied by Konfrut AG. and vegetables were supplied, including black car
Slide 10: Operations: Logistics Business Unit in 2023-H1
Operations Distribution of Hauling Service Volume Basis (Thousand Tons) Logistics Business Unit in 2023-H1 1 5 Dry Cargo Storage and Logistics Operations • Within the scope of Storage and Logistics Cold Chain activities, 60,329 tons of agri sourcing materials and industrial product transportation se
Slide 11: Operations: Industry Business Unit in 2023-H1
Operations Industry Business Unit in 2023-H1 Digital Agriculture • In the first half of the year, digital agriculture devices were used in Source of Manufactured Pallets organic strawberry, black carrot, capia pepper and sugar beet fields, while the number of devices installed in this period reached
Slide 12: Post-Period Developments
Post-Period Developments Konfrut AG started the second half of the year fast Fresh Watermelon Export Started Logistics Investments • In June, Konfrut AG started to receive orders for fresh • The logistics investments planned for 2023 were realized in watermelon exports to Europe. In this context, ap
Slide 13: Consolidated Financial Results 2023-H1
Consolidated Financial Results 2023-H1 KONFRUT INVESTOR PRESENTATION 2023-H1
Slide 14: Net Sales Improvement
Net Sales Improvement Net Sales (Million TL) Continued Strong Growth Based on Turnover and Tonnage • Konfrut realized 437 million TL net sales on a 2,167 consolidated basis in 2023-Q2; +19% • Increase 35% in volume, -6% • Increase 19% in turnover, YoY. 811 802 673 365 437 464 2021 2022 1H2022 1H2023
Slide 15: Profitability
Profitability Gross Profit and Gross Profit Margin (Million TL) Improvement in Operating Expenses Despite Increasing Costs +31% 25% 26% 30% 24% 184 • The ratio of operating expenses to sales improved 23% 322 +24% 25% 161 slightly, with the support of operational efficiency 138 20% 15% 19% 12% 115 pr
Slide 16: Profitability: Net Profit
Profitability Net Profit and Net Profit Margin (Million TL) 71 mn TL Net Profit for the Period -20% 99 13% Return on Equity 15% 129 9% 66 10% -33% 11% 6% 8% 51 10% 43% 6% 89 33 51 71 5% 31% 51 37 34 0 0% 2021 2022 1H2022 1H2023 1Q2023 2Q2023 2Q2022 31.12.2022 30.06.2023 Net Profit (Million TL) 802 R
Slide 17: Investments and Liabilities
Investments and Liabilities Investment Expenditures Distribution (Million TL) Konfrut AG’s investments continue due to its high growth and profitability potential. 0.6 mn TL • Konfrut made an investment of 19.6 million TL on a consolidated basis in 2023-H1. Then, the Company started the second half
Slide 18: Income Statement - Summary
Income Statement - Summary (Million TL) 1Y2022 1Y2023 Change Change (%) 2Q2022 2Q2023 Change Change (%) Net Sales 672.8 802.0 129.2 19.2% 464.2 436.6 (27.6) -6.0% Cost of Sales (520.9) (603.3) (82.4) 15.8% (374.5) (325.0) 49.6 -13.2% Gross Profit 152.0 198.7 46.7 30.8% 89.7 111.6 21.9 24.5% General
Slide 19: Balance Sheet - Summary
Balance Sheet - Summary (Million TL) 30.06.22 30.06.23 31.12.22 31.12.21 Current Liabilities 879.7 1,142.4 1,233.5 589.5 Cash and Cash Equivalents 7.9 4.0 3.5 3.5 Trade Receivables 316.4 202.5 326.7 167.0 Inventories 275.5 472.2 568.6 276.7 Non-Current Assets 118.7 219.3 199.7 97.3 Total Assets 998.
Slide 20: Financial Ratios
Financial Ratios 1Y2022 1Y2023 2022 2021 Gross Profit Margin 23% 25% 15% 12% EBITDA Margin 18% 19% 12% 8% Net Profit Margin 13% 9% 6% 6% Current Ratio 1.27 1.36 1.23 1.26 Acid Test Ratio 0.88 0.80 0.66 0.67 Short-Term Financial 0.99 0.79 0.85 0.95 Borrowings/Total Financial Net Financial Borrowings/
Slide 21: Stock Performance
Stock Performance Konfrut Stock Price Developments Public Offering Date June 10, 1996 Issued Capital TL 132,000,000 7000 21 Ticker Symbol KNFRT 6000 5000 16 Free Float Rate 22.38% 4000 Stock Price TL (June 30, 2022 - June 30,2023) 7.20 - 15.39 3000 11 Market Value TL 2,031,480,000 15.39 2000 Stock P
Slide 22: Legal Disclaimer
Legal Disclaimer Information about Konfrut Gıda Sanayi ve Ticaret A.Ş. (Konfrut Gıda) and its 100% subsidiary Konfrut AG Tarım A.Ş. (Konfrut AG), the financial statements’ analysis and current views on possible future events are included in this presentation. Although, it is considered that the info
Slide 23: Investor Relations Department
INVESTOR RELATIONS DEPARTMENT Sinan Yiğit Yakut – Investor Relations Manager Cemre Ekici Bayram – Investor Relations Team Leader Phone: +90 216 545 68 68 E-mail: yatirimci@konfrutag.com.tr Investor Relations Web Sites KONFRUT INVESTOR PRESENTATION 2023-H1