Haci Omer Sabanci Holding A.s. · BIST:SAHOL
Haci Omer Sabanci Holding A.s — Hacı Ömer Sabancı Holding A.Ş. — Q1 2025 Earnings Presentation
23 slides from Haci Omer Sabanci Holding A.s's earnings presentation, May 8, 2025
Slide 1: Earnings Presentation Q1 2025
Earnings Presentation Q1 2025 Most Honored Company in Emerging EMEA Industrials Extel May 8, 2025 2024
Slide 2: Disclaimer
Disclaimer The information and opinions contained in this document have been compiled by Hacı Ömer Sabancı Holding A.Ş. (“Holding”) from sources believed to be reliable and in good faith, but no representation or warranty, expressed or implied, is made as to their accuracy, completeness or correctne
Slide 3: Q1 2025 Highlights
Q1 2025 Highlights Successful Strategy & Governance Execution Resilient Performance in a Volatile Environment ๏ Enerjisa Üretim’s upward target revision: 6,250 MW+ capacity by 2028 ๏ Combined topline growth in real terms: 4% YoY Q1’25 ๏ +750 MW additional Wind power capacity in YEKA 2024 tender ๏ EB
Slide 4: Combined Financials Q1 2025 Results
Combined Financials Q1 2025 Results 01 /03
Slide 5: Disinflation program intact; yet recovery postponed
Disinflation program intact; yet recovery postponed Türkiye PMI (Dec’23 Indexed at 100) CPI vs. Change in FX Basket(1) (Avg) 50 164 159 50.0 144 49.1 47.4 47.3 115 133 127 118 110 Apr'25 Dec'24 Dec'24 Dec'23 Dec'23 Mar'25 Mar'25 Mar'24 Mar'24 CPI Change in EUR/USD Basket (Avg) PMI PMI Threshold Infl
Slide 6: Sustained margin improvement with continued focus on financial discipline
Sustained margin improvement with continued focus on financial discipline... Combined Revenue (TL bn)(1) Combined Non-Bank EBITDA (TL bn) & EBITDA Margin Consolidated Net Income/Loss (TL bn) +4% 13% 336.8 208 324.3 170 11.0% 166.7 187.6 10.4% 139 9.1% -2.3 151.6 113 +0.3% -2.8 -5% 111.7 -0.6 16.8 90
Slide 7: Sharp increase in OCF through improved working capital
...led to a sharp increase in OCF, Return on Equity through improved working capital Bank Non-Bank Consolidated 7.0% Operational Cash Flow, Combined & Non-bank (TL bn)(1) -5.1% -4.1% 80.3 11.2% 63.8 1.7% -2.3% -2.1% 5.7 -7.8% -9.7% 0.3 2023 2023 2023 20242024 2024 Q1 2025 Q1 2025 Q1 2025 Bank Non- B
Slide 8: Healthy Balance Sheet to Finance Growth
Healthy Balance Sheet Non-Bank Capex/Sales to Finance Growth 13.5% 11.3% Net Financial Debt to Non-Bank EBITDA(1) Holding Only - Net Cash (TL bn) 11.4% 10.0% Policy: ≤ 2x 1.6x 18.4 1.4x 12.4 0.7x 7.0 2023 2024 Q1 2025 2023 2024 Q1 2025 2023 2024 Q1 2024 Q1 2025 (1) Excludes Banking and net cash posi
Slide 9: Even more attractive discount amid intensified market volatility
Even more attractive discount amid intensified market volatility NAV (USD bn) & NAV Discount(1) April 2025 Material Technologies 10.6 & Mobility Solutions 19% Energy & Climate 8.8 8.8 Technologies 35% 54.7% Digital 52.1% Technologies 1% USD8.8bn 46.0% Other 6% Cash 5% Dec 2023 Dec 2024 Apr 2025 Bank
Slide 10: Segment Financials
Segment Financials 02 /03
Slide 11: Bank / Solid start to the year driven by sustained fee income momentum
Bank / Solid start to the year driven by sustained Current Assessment fee income momentum & agile asset-liability ๏ Dynamic ALM, a long-standing core strength of the bank, management positions for healthy NIM trajectory ๏ +6 pp improvement in fee/ opex (to 92 %) since 24YE further bolsters operation
Slide 12: Energy / Sustained EBITDA margin by Dist. & Retail
Energy / Sustained EBITDA margin by Dist. & Retail, Current Assessment while financial expenses weigh on the bottomline ๏ Distribution & Retail & Customer Solutions: Stronger EBITDA and reduced bottomline loss yoy, supported by lower OPEX & deferred tax expenses, despite softer distribution financia
Slide 13: Material Technologies / Market headwinds pressured EBITDA
Material Technologies / Market headwinds Current Assessment ๏ Cement volume declined due to challenging market pressured EBITDA, offset by monetary gains conditions ๏ Lower input costs and Mannok’s contribution offset margin contraction in cement business ๏ Demand & pricing headwinds in global tire
Slide 14: Mobility Solutions / Weak margins in tire business
Mobility Solutions / Weak margins in tire Current Assessment business, pressured segment’s bottomline ๏ Decline in tire profitability despite premium-focused sales mix, amid challenging domestic market conditions ๏ Improved commercial vehicle – bus operations margins, supported by favorable sales mi
Slide 15: Financial Services / EBITDA recovery led by life
Financial Services / EBITDA recovery led by life, yet Current Assessment monetary losses led to a botttomline contraction ๏ Life: Leadership in both Pension AuM and Life & PA premium production among private companies ๏ Sustained AUM growth together with higher premium generation Financial Services
Slide 16: Digital / EBITDA improvement via cloud & MSDT
Digital / EBITDA improvement via cloud & MSDT, Current Assessment yet financial expenses pressured bottomline ๏ Lower sales revenue due to sluggish consumer electronics demand ๏ Improved gross margins in retail electronics on the back of positive mix & disciplined promotional activities & controlled
Slide 17: Retail / EBITDA growth amid challenging consumer environment
Retail / EBITDA growth amid challenging Current Assessment consumer environment & financial pressures ๏ Despite weakened consumer spending, alternative channels contributed positively to topline growth ๏ EBITDA improvement driven by increasing operational efficiency Retail Segment Summary Financials
Slide 18: Q1 2025 Highlights
Q1 2025 Highlights Successful Strategy & Governance Execution Resilient Performance in a Volatile Environment ๏ Enerjisa Üretim’s upward target revision: 6,250 MW+ capacity by 2028 ๏ Combined topline growth in real terms: 4% YoY ๏ +750 MW additional Wind power capacity in YEKA 2024 tender ๏ EBITDA M
Slide 19: Appendix
Appendix 03 /03
Slide 20: Dividend Performance
Dividend Performance MILLION TL 2021 2022 2023 2024 2025 Akbank 255 494 3,666 4,063 2,589 Akçansa 42 36 99 457 477 Aksigorta 110 - - - - Agesa 64 - 60 120 400 Brisa 107 270 479 452 283 Carrefoursa - - - - - Çimsa - 109 218 545 327 Kordsa - 114 41 - - Teknosa - - - - - Enerjisa Enerji 454 586 1,087 1
Slide 21: Financials in Detail
Financials in Detail Combined Revenue(1) Combined EBITDA Consolidated Net Income/Loss MILLION TL Q1 2024 Q1 2025 Change Q1 2024 Q1 2025 Change Q1 2024 Q1 2025 Change TOTAL 324,258 336,847 4% 46,000 38,023 -17% -7,412 -2,940 60% BANK 166,719 187,606 13% 29,685 21,666 -27% -4,567 -614 87% NON-BANK 157
Slide 22: Sabancı Holding NAV After Independent Valuation Reports
Sabancı Holding NAV After Independent Valuation Reports USD mn April 2025 December 2024 Companies Free Float Direct Stake Valuation Method Mcap Value to Sabancı Holding % of NAV Value to Sabancı Holding % of NAV Akbank 54% 41% Market value 6,573 2,679 30.3% 3,895 36.8% Enerjisa Enerji 20% 40% Market
Slide 23: Investor Relations
Meet SirA, Sabancı Holding's digital Capital Markets Investor Presentation - ir.sabanci.com investor relations assistant ! Day 2024 Group Strategy Türkiye’s First Investor Relations Dedicated Assistant ! SBU Presentation – Energy & Earnings 2024 Annual Climate Technologies Presentation Report Kerem
Hacı Ömer Sabancı Holding A.Ş. — Q1 2025 Earnings Presentation on 6ix