Desa Deri Sanayi Ve Ticaret A.s. · BIST:DESA
Desa Deri Sanayi Ve Ticaret A.s — Investor Presentation (2025)
42 slides from Desa Deri Sanayi Ve Ticaret A.s's investor presentation, 2025
Slide 1: Investor Presentation 2024
2024 Investor Presentation
Slide 2: Contents
01 Introduction 02 Business Overview 03 Sustainability 04 Financials CONTENTS 2
Slide 3: Introduction
DESA at a Glance Investment Summary Shareholding Structure 01 INTRODUCTION 3
Slide 4: DESA at a Glance Production Facilities
DESA at a Glance Established in Stores Total Area production facility of 15.500 m² 1972 14.774 m² Production Sefaköy Factory & Head Office IPO Free Float Facilities 2004 35% Total Number of Stores production facility of 20.000 m² Çorlu Tannery Facility 110 1.467 Employees 1 93 17 Online DESA JV prod
Slide 5: Investment Summary
Investment Summary Considerable amount of FX based revenues with diversified business structure New opportunities for luxury goods’ export with the newly established Italian factory 2nd Generation in Management: Family members managing in harmony Solid cash position at the end of 2024: Net cash posi
Slide 6: Shareholding Structure & Board of Directors
Shareholding Structure & Board of Directors Board of Directors Position Melih Çelet Chairman Burak Çelet Vice Chairman and Board Member Burçak Çelet Board Member Bahar Deniz Egemen Independent Board Member Mehmet Kaan Koz Independent Board Member It has been announced that the Company’s application
Slide 7: Business Overview
Vertically Integrated Business Model Production Facilities Investment in Italy Turquality Program 02 1972DESA BUSINESS Samsonite Cross-border E-commerce OVERVIEW 7
Slide 8: Vertically Integrated Business Model
The sole Turkish company in leather industry with a Vertically Integrated Business Model production facility located in Italy Raw Material Production Final Product Manufacturing Retail Sales Çorlu Tannery Facility Leather bag and apparel 110 stores with to process imported production in Istanbul, 14
Slide 9: Partner of Luxury Brands
Contributing to more than Partner of Luxury Brands 65% of all leather goods exported from Turkey to Italy 9
Slide 10: Production Facilities & Employees
Production Facilities & Employees 54,3% 45,7% White Collar Blue Collar Sefaköy Factory & HQ Düzce Factory Tuscany Factory Çorlu Tannery 15.500 m² 10.000 m² 2.000 m² 20.000 m² Production of leather goods Production of clothing and Production of clothing and Napa sheepskin, double-face and apparel, Sh
Slide 11: Investment in Italy - Production Facility and R&D Center
Investment in Italy - Production Facility and R&D Center July 2022 January 2023 Investment decision Acceptance and installation of the machinery August 2022 March 2023 Desa Internazionale SRL established, and Mr.Simone Norcini Kick-off of the recruitments joined DESA Family as Factory Manager April
Slide 12: Italy Production Facility and R&D Center
Italy Production Facility and R&D Center 12
Slide 13: Turquality Program
Turquality Program DESA is a Member since 2006 Government support for 50% of To Create a expenses made Brand abroad under the Rather than acquiring one Turkish Brand 13
Slide 14: International Design Team
International Design Team IVANA OMAZİC (2024) Respected and highly experienced Designer and Creative Director from well known luxury brands like Prada - Miu Miu - Maison Martin Margiela - Celine - Jil Sander - MCM 14
Slide 15: NINETEENSEVENTYTWO Collection
NINETEENSEVENTYTWO DESA, the first Turkish brand COLLECTION featured on the official calendar of Milan Fashion Week, presents its women's and men's collections, inspired by the year 1972, when it launched its first handbag collection, to fashion enthusiasts. 15
Slide 16: NINETEENSEVENTYTWO Global Footsteps
NINETEENSEVENTYTWO GLOBAL FOOTSTEPS It is offered worldwide at 97 select points, with prices ranging from 900 to 3.000 EUR, featuring high-quality craftsmanship and minimalistic designs. 16
Slide 17: The First Luggage Brand Imported to Turkey
The First Luggage Brand Imported to Turkey In 1983, DESA became the distributor of Samsonite, the world’s largest travel products brand, in Turkey. In 2007, a joint venture was established, with DESA holding 40% ownership and Samsonite holding a 60% stake. 17
Slide 18: Samsonite Joint Venture Regional Scope
In addition to Turkey, the Joint Venture’s regional scope includes Azerbaijan, Georgia, Armenia, Syria, and Northern Cyprus. DESA holds exclusive sales authority for corporate clients, such as airlines and banks. 54 37 14 3 Total DESA Joint Venture Joint number of Samsonite owned Venture stores stor
Slide 19: Cross-border E-commerce Channels: Zalando - Bol.com – Amazon.com
Cross-border E-commerce Channels: Zalando - Bol.com – Amazon.com • Zalando is Europe’s key fashion e-commerce site. • Zalando agreement was signed on Aug’22 and Sales kicked-off in Jan’23. • In 2025, we expanded our international sales channels by adding two major platforms and launched sales in fou
Slide 20: Sustainability
Düzce SPP* Çorlu SPP Certifications 03 Other Initiatives (*)Solar Power Plant SUSTAINABILIY 20
Slide 21: Düzce SPP
Düzce SPP • It was built on a 7500 m2 area on the Düzce Factory roof. • 1 mW Panel Capacity/ 0,8mW Installed Capacity • Started operating on August 2022 • Investment Cost of TRY 13,4 million • SPP covering 150% of factory’s consumption* • The goal is to use accessible and clean energy • Expected to
Slide 22: Çorlu SPP
Çorlu SPP • On 9th of November 2022, the Board of Directors ratified establishment of an SPP in Çorlu Factory • Built on the roof of the factory covering 3.300 m² • The output is measured as 641,55 kW on February 2024 and its license is granted in April 2024 by TREDAŞ, the local distribution company
Slide 23: Certifications: Gold Rated Leather Working Group
Certifications "Gold Rated" Leather Working Group • Accreditation: 2021 • Achieved the "Gold" level, a distinction attained by very few companies worldwide • Obtained through evaluations in 17 categories: Water and Energy Usage, Waste Management, Chemicals Used, etc. • Leather Working Group: • Respo
Slide 24: Memorial Forest
Memorial Forest A total of 50,000 saplings in Gaziantep and İzmir. Support for carbon neutral initiatives and efforts to help regenerate forests damaged by fires in İzmir. 24
Slide 25: All Facilities are Ratified for Sedex
Certifications SEDEX Established in 2004 All Facilities are Ratified for Sedex 85.000 members in 180 countries DESA is a member since 2005 All DESA facilities are audited by 3rd parties 25
Slide 26: Other Sustainability Initiatives in DESA
Other Sustainability Initiatives in DESA Our upgrades to LED • We replaced the motors of our sewing machines with next-generation technology in the stores and facilities, resulted motors to prevent unnecessary energy consumption. in 40% saving of • We prioritize prevention, reduction, reuse, and rec
Slide 27: Examples of Our Corporate Social Responsibility Initiatives
Examples of Our Corporate Social Responsibility Initiatives One Hope One Life Project Continuous support to women employment with (Bir Umut Bir Yaşam Projesi) «Celentano Artisans» Every Knot is a Support for a Woman (KEDV “Her İlmek Bir Kadına Destek”) 27
Slide 28: Financials
Sales Exports EBITDA Net Profit Net Working Capital Income Statement 04 B/S - Net Cash - Ratios FINANCIALS FX Position 28
Slide 29: What is TAS29?
What is TAS29? TAS29 (TAS, Turkish Accounting Standards) is an accounting standard that regulates financial reporting in high-inflation economies. The Purpose is to present the financial statements of businesses more accurately by removing the effects of inflation. Indicators of High Inflation ◦ The
Slide 30: Summary IFRS Income Statement
Summary IFRS Income Statement IFRS without TAS29 TRY (million) 2024/2023 USD (million) 2024/2023 2021 2022 2023 2024 Change 2021 2022 2023 2024 Change Sales 432,4 1359,0 1951,8 2630,9 35% 48,9 82,1 82,1 81,0 -1% EBITDA 100,2 390,1 639,1 800,4 25% 11,3 23,6 26,9 24,7 -8% Net Income 46,4 287,4 635,1 7
Slide 31: Sales, Gross Profit & Margin (TRY million)
Sales, Gross Profit & Margin (TRY million) With TAS29 Without TAS29 57,4% 51,4% 57,4% 44,3% 41,6% 49,7% 2.980,1 3.536,4 2.630,9 1951,7 1.757,2 1.511,2 1358,9 1.709,5 1003,0 432,4 565,2 191,7 2023 2024 2021 2022 2023 2024 Sales Gross Profit Gross Profit Margin Sales Gross Profit Gross Profit Margin 3
Slide 32: Domestic and Export Sales Volume
Domestic and Export Sales Volume Yearly Domestic Retail & B2B & Exports Total (‘000 Pieces) Total 498 587 781 768 619 350 350 283 311 27 1 4 246 31 101 1 111 9 25 25 20 0 95 100 98 303 271 134 182 175 2020 2021 2022 2023 2024 Bags Saddlery Apparel Textile Shoes 32
Slide 33: Samsonite Sales Volumes
Samsonite Sales Volumes* 246.407 209.695 175.552 103.918 63.634 2020 2021 2022 2023 2024 Domestic (*) Excluding DESA-Samsonite JV, the figures are solely from DESA owned stores 33
Slide 34: 2024 Leather and Leather Goods Exports
2024 Leather and Leather Goods Exports* • Turkey’s total exports reached USD 226,06 billion in 2024, showing a 2,1% increase compared to the same period of the previous year. • In the same period, Leather and Leather Products’ Exports decreased by 17,8%, falling to USD 1,53 billion. • The share of t
Slide 35: Turkey’s Leather and Leather Goods Exports & DESA (USD million)
Turkey’s Leather and Leather Goods Exports & DESA (USD million) + Value Adding Difference Industry USD 12 / kg DESA USD 116 / kg 27,8 2 5,8 19,7 1 6,2 1 3,8 2.051,5 1.857,6 1.731,5 1.527,0 1 .331,6 2020 2021 2022 2023 2024 L & LG Desa Exports 35
Slide 36: EBITDA & Margin: 2021-2024 (TRY million)
EBITDA & Margin: 2021-2024 (TRY million) With TAS29 Without TAS 29 36,9% 33,1% 29,5% 1.305,0 32,7% 1.215,5 30,4% 28,7% 639,1 878,0 800,4 23,2% 390,1 100,2 2022 2023 2024 2021 2022 2023 2024 36
Slide 37: Net Profit & Margin: 2021-2024 (TRY million)
Net Profit & Margin: 2021-2024 (TRY million) With TAS29 Without TAS29 32,5% 27,8% 20,2% 21,1% 11,0% 716,0 731,3 635,1 7,7% 10,7% 328,0 283,6 287,4 46,4 2022 2023 2024 2021 2022 2023 2024 37
Slide 38: Net Working Capital with TAS29 (TRY million)
Net Working Capital with TAS29 (TRY million) 2024 1.582 642 -1 -57 -38 351 1.441 -621 -159 24 38
Slide 39: IFRS Income Statement with TAS29
IFRS Income Statement with TAS29 TRY (million) USD (million) 24 vs. 23 31.12.2023 31.12.2024 Change % 31.12.2024 Revenues 3.536,4 2.980,1 -15,7% 91,7 COGS -1.779,3 -1.270,6 -28,6% -39,1 GROSS PROFIT / LOSS 1.757,2 1.709,5 -2,7% 52,6 General & Administrative Expenses -142,4 -143 0,4% -4,4 Marketing,
Slide 40: Balance Sheet and Summary Ratios with TAS29
Balance Sheet and Summary Ratios with TAS29 TRY (million) USD (million) 31.12.2023 31.12.2024 31.12.2023 31.12.2024 Current Assets 2.432 2.610 69 74 Fixed Assets 1.308 1.412 37 40 Total Assets 3.739 4.022 106 114 Short Term Liabilities 1.191 1.126 34 32 Long Term Liabilities 203 217 6 6 Equity 2.345
Slide 41: Foreign Currency Position & Loans As of 31.12.2024
Foreign Currency Position & Loans As of 31.12.2024 Deposits & Financial Investments USD & TRY Denominated USD Denominated Deposits and Mutual Funds Eurobonds 28,16 million TRY 1.390 million Equivalent to USD 11,34 million Net Cash Bank Loans USD 0,5 million USD 1,6 million Long Term Financial Liabil
Slide 42: www.desa.com.tr
www.desa.com.tr https://www.desa.com.tr/investors www.1972desa.com www.desainternazionale.it :investor.relations@desa.com.tr : +90 212 473 18 00 DESA Deri @desafashion @desafashion @desafashion Desa Fashion 42
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