Unlu Yatirim Holding A.s. · BIST:UNLU
Unlu Yatirim Holding A.s — ÜNLÜ Yatırım Holding A.Ş. — FY2024 Earnings Presentation
30 slides from Unlu Yatirim Holding A.s's earnings presentation, March 2025
Slide 1: 2024 Full Year Financial Results
ÜNLÜ Yatırım Holding A.Ş. 2024 Full Year Financial Results Investor Relations March 2025 © 2025 ÜNLÜ & Co | All Rights Reserved
Slide 2: Disclaimer on IAS 29
Disclaimer on IAS 29 With its decision dated 28.12.2023 numbered 81/1820, Capital Markets Board (“CMB”) of Türkiye announced that the issuers and capital market institutions which are subject to the financial reporting regulations of the Capital Markets Board shall prepare their annual financial sta
Slide 3: Agenda
Agenda Sayfa 2024 Full Year Financial Results: Key Takeaways 4 I. Financial Statements and Performance 5 II. Developments by Business Lines 12 III. Evaluation of 2024 Results with Year-end Targets 17 IV. Appendices IAS 29 Impact 20 About ÜNLÜ & Co 23 Shareholder Structure and Group Companies 24 Sust
Slide 4: 2024 Full Year Results: Key Takeaways
2024 Full Year Results: Key Takeaways TL 676.2 mn TL 117,4 mn Important Themes Operating Profit Net Profit Q4 was a period in which growth above inflation continued in terms of operational income. The 19% increase y/y 125% increase y/y negative impact of inflation on financial statements is expected
Slide 5: I. Financial Statements and Performance
I. Financial Statements and Performance © 2025 ÜNLÜ & Co | All Rights Reserved
Slide 6: ÜNLÜ Yatırım Holding A.Ş. as of end of 2024
ÜNLÜ Yatırım Holding A.Ş. as of end of 2024 ₺ 2,39 bn ₺ 117,4 mn 93% Core Revenues Net Profit Share of Recurring Revenues ₺ 4,08 bn ₺ 2,3 bn 39% Total Assets Shareholders’ Equity EBITDA Margin ₺ 32 bn ₺ 10,87 bn ₺ 140,8 mn ₺ 5,3 bn DAHA AuC (*) Portfolio Alternative NPL Portfolio (*): Assets Under C
Slide 7: Financial Statements and Performance
Financial Statements and Performance In 2024, the Company’s Core Revenues (*) increased by 9% y/y and exceeded TL 2,3 bn. Net Income increased by 125% y/y and reached TL 117,4 mn. Summary Income Statement (TL) 12M24 12M23 D YoY Core operating revenues 2,391.5 2,191.9 9% ? IAS 29 Impact Marketing, se
Slide 8: Financial Statements and Performance
Financial Statements and Performance As of end of 2024; Total Revenues (*) at TL 2,74 bn, EBITDA at TL 1,08 bn, Net Profit at TL 117,4 mn. EBITDA Margin 39%, Profit Margin 4%, RoA 3% and RoE 6%. Operational profitability 12M24 12M23 D YoY Extended Revenues 2,744.8 2,613.0 5% As of end of 2024, net P
Slide 9: Financial Statements and Performance
Financial Statements and Performance As of end of 2024, consolidated assets are over TL 4 bn, shareholders’ equity is over TL 2,3 bn. Summary Balance Sheet (TL mn) 12M24 12M23 D YoY ? IAS 29 Impact Total Assets 4,077 3,903 4% Current Assets 2,705 3,056 -11% High Liquidity Effect => Liquidity was pri
Slide 10: Financial Statements and Performance
Financial Statements and Performance 2018 2019 2020 Revenues from business lines reached TL 2,3 bn by the end of 2024 (y/y +9%). The admiral ship for the period was the NPL business line. NPL, Asset Management and Treasury’s contribution to revenues continued to increase. Revenues by Business Line (
Slide 11: Financial Statements and Performance
Financial Statements and Performance Revenues from NPL Business Line (with and w/o IAS 29) 2018 2019 2020 (000 TL)* İstanbul Varlık Gelecek Varlık Dünya Varlık Sümer Varlık Emir Varlık Birikim Varlık Collections 612,906 4,381,526 3,147,178 1,120,528 1,121,382 814,071 Net Profit 344,489 1,182,027 852
Slide 12: II. Developments by Business Lines
II. Developments by Business Lines © 2025 ÜNLÜ & Co | All Rights Reserved
Slide 13: NPL Business Line
NPL Business Line 2024 Financial Results (w/o IAS 29, financials submitted to BRSA were taken into account) NPL Sector 2024 Collections: TL 612.9 mn 2021: TL 5,1 bn NPL sales 2022: TL 6,4 bn NPL Business Line Performance 2023: TL 12,2 bn Total investments in 2024: TL 383.3 mn 2024: TL 30,6 bn, 4Q24
Slide 14: Corporate Finance Business Line
Corporate Finance Business Line 2024 Revenues: TL 97,2 mn (y/y -41%) M&A Transactions 2023 Revenues: TL 164,4 mn In Q4, Çinigaz/Sel-Tan transaction was completed. Corporate Finance Revenues ÜNLÜ & Co’s M&A pipeline continued to remain strong. Number of M&A projects actively worked on: 20 IPO Polifar
Slide 15: Investment Advisory: DAHA and Fund Management
Investment Advisory: DAHA and Fund Management 2024 Revenues: TL 470,6 mn DAHA Thanks to our new mobile application «Piapiri», which we introduced in line with our DAHA: TL 382,2 mn (y/y -19%) Digitalization Strategy, our customer onboarding from digital channels accelerated and 94% of the accounts o
Slide 16: Institutional Sales Business Line
Institutional Sales Business Line Performance of the Business Line 2024 Revenues: TL 226,9 mn In 2024, Institutional Sales business line's recurring Recurring Revenues : TL 148,5 mn (y/y -7%) revenues amounted to TL148,5 mio, 65,4% of its total Other Revenues(*): TL 78,4 mn (y/y +9%) revenues. Secto
Slide 17: III. Evaluation of 2024 Results with Year-end Targets
III. Evaluation of 2024 Results with Year-end Targets © 2025 ÜNLÜ & Co | All Rights Reserved
Slide 18: Evaluation of 2024 Results with the Year-end Guidance
Evaluation of 2024 Results with the Year-end Guidance Reason for not Goal and Projection 2024 Realized % of Target 2024 Year-end Target reaching the Target Extended Revenues 2,745 mio TL 137% TL 2 bn Lower than expected Operating Profit 676.2 mio TL 85% revenues in all business TL 800 mn lines Profi
Slide 19: IV. Appendices
IV. Appendices © 2025 ÜNLÜ & Co | All Rights Reserved
Slide 20: IAS 29 Impact
IAS 29 Impact 2018 2019 2020 w/o IAS 29 w/ IAS 29 w/o IAS 29 w/ IAS 29 Source: Information without IAS 29 prepared within the scope of management reporting and information with IAS 29 based on audited 2024 annual consolidated financials. © 2025 ÜNLÜ & Co | All Rights Reserved 20
Slide 21: IAS 29 Impact
IAS 29 Impact 2018 2019 2020 w/o IAS 29 w/ IAS 29 w/o IAS 29 w/ IAS 29 w/o IAS 29 w/ IAS 29 w/o IAS 29 w/ IAS 29 Source: Information without IAS 29 prepared within the scope of management reporting and information with IAS 29 based on audited 2024 annual consolidated financials. © 2025 ÜNLÜ & Co | A
Slide 22: IAS 29 Impact
IAS 29 Impact 2018 2019 2020 w/o IAS 29 w/ IAS 29 Revenues by Business Line (TL mn) 12M24 12M23 DYoY Revenues by Business Line (TL mn) 12M24 12M23 DYoY Corporate Finance 83.3 94.5 -12% Corporate Finance 97.2 164.4 -41% M&A 56.8 78.4 -28% M&A 62.9 137.1 -54% ECM and DCM 26.5 16.0 65% ECM and DCM 34.3
Slide 23: ÜNLÜ & Co – Pioneer in the Sector with its Entrepreneurial History
ÜNLÜ & Co – Pioneer in the Sector with its Entrepreneurial History 4 Major Business Lines: NPL, Investment Advisory, Corporate Finance and Institutional Sales Pioneering initiatives, Reputable Name DAHA #1 Turkey’s first independent M&A Corporate Finance advisory firm NPL and Investment M&A Advisory
Slide 24: ÜNLÜ & Co – Ownership and Group Structure
ÜNLÜ & Co – Ownership and Group Structure ÜNLÜ Portföy UFT Publicly Traded Mahmut L. ÜNLÜ Equity Private (Other) Hedge Fund %35,57 %54,48 %9.95 %100 %32,5 %100 %100 %100 %100 %100 Turkish Piapiri ÜNLÜ Alternative ÜNLÜ Portföy ÜNLÜ Menkul İSTANBUL Varlık Bilişim 212 LTD Teknoloji Investments Yönetimi
Slide 25: ÜNLÜ & Co – Sustainability
ÜNLÜ & Co – Sustainability Our First Sustainability Report is Live! © 2025 ÜNLÜ & Co | All Rights Reserved 25
Slide 26: ÜNLÜ & Co – Sustainability
ÜNLÜ & Co – Sustainability "ÜNLÜ & Co has published its first sustainability report with the goal of contributing to a sustainable future. You can access the 2023 Sustainability Report, prepared with the motto “Our Trace for a Sustainable World,” on the company's website. As an organization, we emph
Slide 27: ÜNLÜ & Co – Sustainability
ÜNLÜ & Co – Sustainability "In collaboration with Türkiye Entrepreneurship Foundation (GİRVAK), a comprehensive training program is offered for start-ups/ventures who have female founders or co-founders." Results of the first term of ÜNLÜ & Co Women's Technology Entrepreneurs Academy: • 14 investor
Slide 28: ÜNLÜ & Co – Sustainability
ÜNLÜ & Co – Sustainability Our Featured Awards ÜNLÜ & Co's Prominent NGO and 2024 MERGERMARKET EUROPEAN M&A AWARDS Association Partnerships •Financial Advisor of the Year in Türkiye 2024 EUROMONEY SECURITIES HOUSES AWARDS •Best Securities Company in Türkiye CAPITAL MAGAZINE MOST LIKED COMPANIES RESE
Slide 29: Disclaimer
Disclaimer This presentation or report has been prepared by ÜNLÜ Yatırım Holding A.Ş. and its affiliates («ÜNLÜ & Co») for information purposes and the information in its content must be considered strictly confidential. It cannot be partially or completely reproduced, copied, used for any other pur
Slide 30: Investor Relations
Investor Relations Ahi Evran Cad. Polaris Plaza No: 21 İç Kapı No: 11 34485 Maslak, Sarıyer - İstanbul, Türkiye T : +90 (212) 367 36 36 | F : +90 (212) 346 10 40 | E : investor.relations@unluco.com © 2025 ÜNLÜ & Co | All Rights Reserved 30
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