Cimsa Cimento Sanayi Ve Ticaret A.s. · BIST:CIMSA
Cimsa Cimento Sanayi Ve Ticaret A.s — Q2 2026 Earnings Presentation
34 slides from Cimsa Cimento Sanayi Ve Ticaret A.s's earnings presentation, 2026
Slide 1: Global, Sustainable, Leading Building Materials Company
Global, Sustainable, Leading Building Global, Materials Company Sustainable, Leading Building Materials Company
Slide 2: Disclaimer
Disclaimer The information and opinions contained in this document have been compiled by Çimsa Çimento Sanayi ve Ticaret A.Ş. (“CIMSA”) 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 corre
Slide 3: Çimsa At a glance
Çimsa At a glance
Slide 4: Strong, diversified & supportive parent company: Sabancı Holding
Strong, diversified & supportive parent company: Sabancı Holding 47.9% 52.1% Sabancı Family Free Float BANKING & FINANCIAL SERVICES ENERGY & CLIMATE TECHNOLOGIES Shareholder Structure SAHOL: 40.7% SAHOL: 40.0% SAHOL: 36.0% SAHOL: 40.0% SAHOL: 50.0% SAHOL: 100% Other: 6.1% Ageas: 40.0% Ageas: 36.0% E
Slide 5: A traditional cement player, transforming to a global & diversified building materials company
A traditional cement player, transforming to a global & diversified building materials company Germany Total Capacity [Hamburg] Grey Clinker 4.8 mt [Munich] Republic of Ireland White Clinker 2.3 mt Italy [Ballyconnell] [Trieste] CAC 197 kt United States Grey Clinker: 1.2 mt White Grinding 300 kt Tür
Slide 6: Transformation story & Next phase
Transformation story & Next phase
Slide 7: Clear strategic roadmap & target-oriented initiatives
Clear strategic roadmap & target-oriented initiatives… How we planned the transformation? Transformation milestones 2021–2026 execution Eskişehir WHR 2026 5.5 MW | 25% of plant consumption Grey to Green, Local to Global, Cement to Building Materials U.S. grey grinding facility 2025 $82m | 600 kt ann
Slide 8: Delivered sustainable & value-accretive transformation
…delivered sustainable & value-accretive transformation Financial Scorecard Sustainability Scorecard The quality transformation delivered tangible financial performance; strong growth, higher profitability & enhanced shareholder value. GROWTH PROFITABILITY VALUE CREATION Scope 1 & 2 specific GHG emi
Slide 9: Positioned the balance sheet for the next phase of strategy
…positioned the balance sheet for the next phase of strategy: “protect the core & build beyond” Capital Allocation Priorities Liquidity & Financing Scorecard Disciplined capital deployment to support growth, resilience and shareholder returns. INORGANIC GROWTH ORGANIC INVESTMENT SHAREHOLDER RETURNS
Slide 10: Investment Highlights
Investment Highlights
Slide 11: Sustainable competitive advantages driven by our strategy & execution
Sustainable competitive advantages driven by our strategy & execution EXPANSION PROVEN FINANCIAL SUSTAINABLE R&D TRACK RECORD LEADERSHIP PRUDENCE VISION EXCELLENCE Organic & Inorganic investments Deleveraging while investing, Globally leading player in SBTI targets & roadmap in place, Embedding sust
Slide 12: Proven track record of diversification through organic & inorganic investments
Proven track record of diversification through organic & inorganic investments TURKEY UNITED STATES SPAIN IRELAND (1972) (2019) (2021) (2024) MERSİN PLANT HOUSTON PLANT BUNOL PLANT MANNOK BALLYCONNELL PLANT ❖ Only plant in the world which produces white, ❖ Started production in 2019. ❖ Acquired in 2
Slide 13: R&D translating sustainability into product and process advantage
R&D translating sustainability into product and process advantage 2 R&D Centers RapiDome; 3D house in Mersin plant 1 Germany - Munich 2 Türkiye - Mersin • More flexible & sustainable structures • Cost reduction, fast installation adaptability to changes Flycrete; quick solution for damaged floors R&
Slide 14: Global Vision
cim@® Global Vision Grey to Green, Local to Global, Cement to Building Materials 75% Hard Currency Revenue Generation Leader position in global White Cement and CAC markets Global R&D Center and Organization 40% Sustainable Energy Resources © 70% Sustainable (2) :, Exceeding Product Portfolio SBTI T
Slide 15: 2Q26 Highlights
2Q26 Highlights
Slide 16: Operational discipline supports margin expansion amid challenging market conditions
Operational discipline supports margin expansion amid challenging market conditions OPERATIONAL UPDATE 2Q26 PERFORMANCE SNAPSHOT NET SALES -9.7% y/y 1 Türkiye’s domestic 2 Çimsa’s sales volumes 3 Alternative Fuel Usage consumption & export trend TRYbn TRY 13.0bn 2Q26 13.0 Cement & clinker consumptio
Slide 17: Contraction in Türkiye's domestic consumption & exports
Contraction in Türkiye’s domestic consumption & exports KEY TAKEAWAYS Türkiye Cement & Clinker Consumption* Consumption in Çimsa’s Regions* Türkiye Cement & Clinker export** 1 Türkiye’s consumption (mt) (mt) (mt) Cement & clinker consumption in Türkiye decreased by 5.5% y/y in 4M26. 9.8% 15.9% 82.1
Slide 18: International growth, led by the U.S. investment, offset lower Türkiye volumes
International growth, led by the U.S. investment offset lower Türkiye volumes KEY TAKEAWAYS Çimsa’s sales volume breakdown 1 Çimsa’s Türkiye sales volume (kt) Türkiye sales volumes were down 6.8% y/y 1.4% in 2Q26 reflecting the weak market 4,178 4,236 backdrop. 9.1% 0.9% Çimsa’s international sales
Slide 19: Higher petcoke spot prices while electricity prices were significantly lower in 2Q26
Higher petcoke spot prices due to the geopolitical tensions while electricity prices were significantly lower in 2Q26 Average market electricity prices in USD terms were c.67% y/y lower in 2Q26. 2Q25 Avg.: USD61 2Q26 Avg.: USD20 71 69 65 64 74 72 66 66 66 70 67 59 56 48 37 27 21 13 ENERGY* Average m
Slide 20: Continued focus on increasing alternative fuel use helped offset cost pressures
Continued focus on increasing alternative fuel use helped offset cost pressures Grey Clinker Production Variable Cost Breakdown - Türkiye White Clinker Production Variable Cost Breakdown - Bunol Grey Clinker Production Variable Cost Breakdown - Mannok 27% 44% 50% 50% 56% 73% Total Energy Other Total
Slide 21: Cost discipline and lower financial expenses support stronger margins amid softer sales
Cost discipline and lower financial expenses support stronger margins amid softer sales NET SALES EBITDA & EBITDA MARGIN NET INCOME & NET INCOME MARGIN (9.7%) 14,394 7,000 25.0% 7,000 12.2% 13,000 20.1% 12.0% 6,000 18.6% 20.0% 6,000 10.0% 7.7% 5,000 5,000 (2.3%) 8.0% 15.0% 4,000 4,000 3,000 2,680 2,
Slide 22: Prudent balance sheet management
Prudent balance sheet management Well Diversified Debt & Cash Composition Efficient WC Management & Healthy Debt Levels TRY4.8bn TRY1.7bn TRY29.4bn TRY13.6bn 2.54x 2.21x 20 ,00 0 20 % 40 ,00 0 3.0 0x Consolidated Cash Çimsa TR Cash Consolidated Debt Çimsa TR Debt 15% 18 ,00 0 18 % 14% 35 ,00 0 2.0 0
Slide 23: Appendix
Appendix
Slide 24: Proven expansion track record helped increase hard currency revenues
Proven expansion track record helped increase hard currency revenues Hard Currency Revenue Share Geographical Breakdown of Revenue - 2025 61% 8% 39% 26% 57% 9% 17% 2019 2025 Turkiye Europe U.S. U.K. & Ireland Other 24
Slide 25: Global leader in value-added products
Global leader in value-added products Global White Cement Consumption (mt) CAGR 2014-2025: 2.0% How Çimsa stands out in White Cement 21 18 15 Türkiye | #1 white cement exporter. 12 9 6 Global | #2 white cement player. 3 0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025E Global CAC Consum
Slide 26: Investments that unlock the next chapter
Solid financial performance despite heavy investment period, providing flexibility to build beyond Investments that unlock the next chapter …led EBITDA uplift through …with stabilized working …despite continuous ...translated into positive FCF …resulting in balance sheet Increasing net sales... oper
Slide 27: Net Zero: Commercialized sustainability
Commercialized sustainability Sustainability investments led cost efficiency & CBAM readiness Decarbonization Transition Plan (Scope 1 & 2) – What have we done & what’s next? Product Emission Intensity (Scope 1 + 2) 884 kg CO2/ton cementitious product 780 734 AF Use >20% at Eskişehir & Afyon AF Use
Slide 28: What will drive construction demand?
What will drive construction demand? Built-up area per capita (km2) Urbanization Increasing urbanization will lead higher built-up are POPULATION & per capita. Total population CAGR: 1.4% Total population CAGR: 0.6% URBANISATION Urban population CAGR: 2.3% Urban population CAGR: 1.3% 70.0% 67.3% 57.
Slide 29: Profit & Loss Statement
Profit & Loss Statement TRY ‘000 w/ June 2026 pp 2Q25 2Q26 6M25 6M26 Revenue 14,393,557 12,999,610 26,864,240 25,447,350 Cost of sales (11,358,819) (10,317,833) (21,904,713) (20,978,617) Gross Profit 3,034,738 2,681,777 4,959,527 4,468,733 General and administrative expense (1,253,571) (1,080,989) (
Slide 30: Balance Sheet
Balance Sheet TRY ‘000 w/ June 2026 pp w/ June 2026 pp Dec-25 Jun-26 Dec-25 Jun-26 TOTAL ASSETS 109,044,930 99,316,252 TOTAL LIABILITIES 109,044,930 99,316,252 Current Assets 29,434,988 23,984,083 Current Liabilities 26,676,101 27,299,406 Cash and cash equivalents 11,465,705 4,805,495 Short-term bor
Slide 31: Cash Flow Statement
Cash Flow Statement TRY ‘000 w/ June 2026 pp 6M25 6M26 A. CASH FLOWS FROM OPERATING ACTIVITIES 535,376 (1,591,900) Profit before taxation 2,051,617 3,232,067 Adjustments to reconcile net profit/loss for the period 1,327,916 (1,135,425) Changes in working capital (2,663,603) (3,031,531) Cash flows fr
Slide 32: IR Contacts
IR Contacts
Slide 33: IR Contacts
IR Contacts Erdem Erdoğan Öktem Söylemez Chief Financial Officer Investor Relations Manager 0216 554 70 79 0216 554 70 79 er.erdogan@cimsa.com.tr o.soylemez@cimsa.com.tr Çimsa Investor Relations investor.relations@cimsa.com.tr
Slide 34: Thank You!
Thank You!
Çimsa Çimento Sanayi ve Ticaret A.Ş. — Q2 2026 Earnings Presentation on 6ix