Slide 1: Koç Holding 9M22 Earnings Presentation
KOÇ HOLDING 9M22 EARNINGS PRESENTATION 4 NOVEMBER 2022 9M22 Earnings Presentation
Slide 2: Agenda
Agenda Koç Holding Key Indicators Highlights on Main Sectors Historical NAV 2 9M22 Earnings Presentation
Slide 3: Agenda
Agenda Koç Holding Key Indicators Highlights on Main Sectors Historical NAV 3 9M22 Earnings Presentation
Slide 4: Sectoral & Geographical Diversification
Focus on Sustainability and Resilience Sectoral & Geographical Diversification Net Asset Value Breakdown by Sector1 International Revenues / Total Combined Revenues 56% Auto including FX linked (PC & CV Manufacturing) 31% revenues of Tüpraş 32% Auto 29% (Other) 12% Finance Refining 19% 14% Oil & Gas
Slide 5: Solid Liquidity Maintained: Net Cash Bridge
Focus on Sustainability and Resilience Solid Liquidity Maintained Net Cash Bridge TL Million = USD 275mn = USD 104mn Net cash including 5,227 - 2,752 Net cash YKB AT1 as of 2021YE including YKB AT1 + USD 1.8bn - 3,494 Gross cash including YKB AT1 as of 2021YE 3,566 1 + USD 1.5bn Gross cash including
Slide 6: Key Metrics: Fundamentals Remain Intact on the Back of Prudent Management
Key Metrics Fundamentals Remain Intact on the Back of Prudent Management Strong Cash Position Solid Liquidity Flat FX Position USD 104mn 1.2x +USD 99mn Solo Current Ratio Solo Net Cash on Combined Basis2 FX Position + USD 1.3bn + USD 272mn Gross Cash Consolidated FX position after natural hedge3 Har
Slide 7: Agenda
Agenda Koç Holding Key Indicators Highlights on Main Sectors Historical NAV 7 9M22 Earnings Presentation
Slide 8: Energy: Robust Refining Margins Boosted Bottom-Line
Energy Robust Refining Margins Boosted Bottom-Line Domestic Market Sales Volume Crack Margins 9M22 Highlights Million Tonnes USD/bbl, Monthly Diesel Jet Fuel Gasoline 35.3 Resilient domestic demand y/y -6% +45% +15% -5.4% 32.3 Growth Robust crack margins and widening differentials 16.9 15.9 Higher c
Slide 9: Automotive: Solid Export Contracts and Favorable Product Mix
Automotive Solid Export Contracts and Favorable Product Mix Sales Volume Monthly Growth Trend 9M22 Highlights Thousand Units y/y Koç Total Turkey Exports Ma rket Share 19% 61% 20% 28% 45% Passenger Cars (Turkey) Favorable product mix Light Commercial (Turkey) y/y 100% Solid export contracts -8% -2%
Slide 10: Consumer Durables
Consumer Durables Resilient Revenues, yet Increased Costs due to Global Challenges Reflected on Margins Sales Volumes Across Markets Monthly Growth Trend 9M22 Highlights Million Units y/y " Koç 20% 68% 26% 30% 41% Strong revenue growth with disciplined pricing Market Share Contribution of newly acqu
Slide 11: Finance: Strong Top-Line Performance
Finance Strong Top-Line Performance Supported by Continued Improvement in Margin and Fees TL Lending Growth Sector’s Loans & Deposits 9M22 Highlights 13 Weeks Annualized TL, USD Billion 100% Private State Sector Ongoing market share gains on small ticket TL loans & deposits, 80% 9M22 qtd ytd y/y con
Slide 12: Group's 9M22 Financial Performance
Group’s 9M22 Financial Performance Rock solid y/y Performance at all Segments Financial Performance TL Million Consumer Energy Automotive Finance Other TOTAL Durables Combined Revenues 1 528,048 199,588 109,212 111,650 37,429 985,927 Change (y/y) 261% 120% 109% 135% 129% 179% Segment Share in Total
Slide 13: Agenda
Agenda Koç Holding Key Indicators Highlights on Main Sectors Historical NAV 13 9M22 Earnings Presentation
Slide 14: Historical NAV Discount
Historical NAV Discount Unwarranted NAV Discount Given Strong Fundamentals Relative Share Performance of Koç Holding vs. Koç Group1 Effective Ownership Adjusted Mcap Changes of the Listed Portfolio Companies Rebased at 2021YE USD Million 120% 559 72 54 54 38 9,170 100% -7 -54 Discount to 84% 1,075 1
Slide 15: Q&A
Q&A 9M22 Earnings Presentation
Slide 16: Appendix - Our ESG Journey
Appendix - Our ESG Journey We are committed to be carbon neutral by 2050 .The Koç Group Carbon Transition Roadmap Sustainability Indicators 27% 49% One of the first signatories of Reduction in Scope 1 & 2 Reduction in Scope 1 & 2 UN Global Compact and UN WEPS GHG emissions until GHG emissions until
Slide 17: 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 Dividend TL Million 2019 2020 2021 Oct'22 vs.2021 Tüpraş (via EYAŞ) 1,489 - - - n.m. 5,227 Ford Otosan 494 421 1,382 1,763 28% Dividend Tofaş 331 451 564 1,203
Slide 18: Appendix - Consolidated Key Financial Figures
Appendix - Consolidated Key Financial Figures Consolidated Main Financial Indicators Consolidated Net Income TL Million TL Million 9M21 9M22 y/y + 4,758 -8 + 368 42,022 Revenues 223,610 646,872 189% + 9,724 Gross Profit 47,295 151,298 220% Operating Profit 24,377 97,561 300% + 17,764 Profit Before T
Slide 19: Appendix – Selected Unlisted Companies
Appendix – Selected Unlisted Companies Selected Unlisted Companies’ Summary Financials Koç Holding Revenues Operating Profit1 EBITDA Book Value (SHE) TL Million Direct Share 1H21 1H22 1H21 1H22 1H21 1H22 1H21 1H22 Arçelik LG Klima 5.00% 1,302 3,439 103 259 114 271 522 604 Bilkom 69.94% 2,598 4,394 7
Slide 20: Appendix - 2022 Expectations of the Listed Group Companies
Appendix - 2022 Expectations of the Listed Group Companies TÜPRAŞ 2021A 2022E - Feb'22 2022E-May'22 2022E-Aug'22 TOFAŞ 2021A 2022E - Feb'22 2022E-Aug'22 2022E-Oct'22 ARÇELİK 2021A 2022E - Feb'22 2022E-May'22 2022E-Aug'22 2022E-Oct'22 Sector Sector ('000) Revenue 67% >60% >80% >90% >90% Med Complex (
Slide 21: 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 Tat Gıda EYAŞ: 46.4% Arçelik Yapı Kredi Bank KH: 39% KH: 41% KH: 27.02% KH: 44
Slide 22: Contact Koç Holding Investor Relations
Contact Koç Holding Investor Relations investorrelations@koc.com.tr Visit our website at: www.koc.com.tr/investor-relations Nursel Ilgen, CFA, Coordinator Investor Relations nurseli@koc.com.tr +90 216 531 0414 Sinem Baykalöz, Manager Investor Relations sinemb@koc.com.tr +90 216 531 0533 Cansev Atak,
Slide 23: 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