Turk Traktor Ve Ziraat Makineleri A.s. · BIST:TTRAK

Turk Traktor Ve Ziraat Makineleri A.s — H1 2024 Earnings Presentation

29 slides from Turk Traktor Ve Ziraat Makineleri A.s's earnings presentation, Aug 1, 2024

  1. Slide 1: Analyst Meeting Presentation

    rkTraktir ANALYST MEETING PRESENTATION 01.08.2024 Tii GAKoe TiirkTraktér7... cN4

  2. Slide 2: Disclaimer

    DISCLAIMER With the Capital Markets Board of Turkey’s Bulletin dated 28.12.2023 numbered 2023/81, CMB announced that issuers and capital market institutions shall prepare their annual financial statements ending on 31.12.2023 or later, in accordance with IAS 29 inflationary accounting provisions. Ac

  3. Slide 3: Agenda

    AGENDA OS LOCAL MARKET SECTOR DYNAMICS OMS GLOBAL TRACTOR MARKET 6% BUSINESS RESULTS Q) Tractor Q Agricultural and Construction Equipment QO) 2024 Expectations OM FINANCIAL RESULTS @AKog TirkTraktér72... CNH

  4. Slide 4: Local Market Sector Dynamics

    LOCAL MARKET SECTOR DYNAMICS 4 Agricultural Sector & Rainfall Input Costs & Support Consumer Agricultural Production Trend Product Prices Programs Financing — @AKog TiirkTraktér7©.... cM

  5. Slide 5: Koc TiirkTraktor c CNH

    Koc TiirkTraktor c CNH

  6. Slide 6: Turkish Agriculture Sector

    TURKISH AGRICULTURE SECTOR y Turkey’s Turkey’s Share in 20 Share nd 4. 6% agricultural 9 7 agricultural 1 ‘ GDP 0 the total 0 economy in (as of 2028) economy in (as of 2023) (esof 12024) | employment (as of 102024) the World Europe Agricultural Production 2023-2024 10 (million ton) 98% !norease 2023

  7. Slide 7: Rainfall by region

    7 518,0 498,9 516,6 Difference (%) Normal Oct 22- June 23 Oct 23- June 24 Normal Oct 22 - June 23 Oct 23 - June 24 631 639 587 601 603 601 563 541 544 556 568 561 495 492 524 459 451 462 365 364 329 Marmara Aegean Mediterranean Central Anatolia Black Sea Eastern Anatolia South Eastern Anatolia 31% -

  8. Slide 8: Agricultural PPI and IPI

    8 Agricultural PPI Agricultural IPI 180% 160% 140% 120% 100% 80% 54,6% 60% 40% 53,1% 20% 0%

  9. Slide 9: Agricultural Support Programs in Turkey

    AGRICULTURAL SUPPORT PROGRAMS IN TURKEY ? TiirkTraktir7©...

  10. Slide 10: Agricultural Support Programs in Turkey

    AGRICULTURAL SUPPORT PROGRAMS IN TURKEY y Agricultural Subsidy Payments (ition 11) Agricultural Investment Supports (ition) en ee ——— Ss — a increase 499g 63.4 x i 219 23.0 25.1 12.1 5.1 5.1 — 2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024 Budget Budget + Within the scope of agricultura

  11. Slide 11: Consumer Finance

    CONSUMER FINANCE 2s, § 2 s = =

  12. Slide 12: Consumer Finance

    CONSUMER FINANCE y Interest Rates * Ziraat Bank is in a competitive position with a post-subsidy 4 <4 Ziraat Bankasi interest rate of 29.4%. 58.8% Ziraat Bank loan usage was 30.3% as of June 2024. 4 Peas 22.5% wee 18am 710% 4 79% 68% 6.3% 56% 50% Financing Distribution of TiirkTraktér's Sales Dec21

  13. Slide 13: Global Tractor Market and Export

    GLOBAL TRACTOR MARKET AND EXPORT a \ —— ae) i y A os [ Ca A ~ a a) — y ———s TiirkTraktir7©...

  14. Slide 14: Global Tractor Market

    GLOBAL TRACTOR MARKET , Total Global Market (thousand unit) Turkey is the world’s 4" largest tractor market according to total tractor sales in 2023. In 2024, the world tractor market's size is expected to be 1.7 million. 6m 2021 | 2022 | 2023 Important Export 620 560 510 2024 Forecast vs. 2023 Mark

  15. Slide 15: Tractor Export from Turkey

    “&-Tractor Export from Turkey* (unit ‘Source: Tarmakbir mTotal =m TiirkTraktor 22,472 20,511 20,148 6,176 7,095 6,016 i a 2021 2022 2023 2023/6 | “8: TiirkTraktor’s Export (unit) aki decrease 16,176 17005 16,016 aL ee L i "Ty 7 2021 2022 2023 2023/6 2024/6 » TiirkTraktér’s Share in Export* 0, 00020

  16. Slide 16: Production

    PRODUCTION 4 GAKog TiirkTraktér7.... CNH

  17. Slide 17: Tractor Production in Turkey & TürkTraktör

    TRACTOR PRODUCTION IN TURKEY & TURKTRAKTOR zy Oe Tractor Production of Turkey* (unit) Oke TiirkTraktér’s Production (unit) Total =m TiirkTraktér a 15% i oes 82,343 “Ey 79,478 48,560 44, a =k decrease 48,560 44,619 pi 23 48,709 42,535 7 ie: ey 920 26.215 i 24,920 2021 2022 2023 2023/6 2024/6 2021 202

  18. Slide 18: Market Position

    18 Market Market 2023 2024/6 Position Position New Holland 27,124 1. 12,160 1. Case IH 7,435 2. 3,468 2.

  19. Slide 19: Tractor Sales of TürkTraktör

    TRACTOR SALES OF TURKTRAKTOR © 6m Tractor Sales of TiirkTratér (unit mlmport mLocal m Export > Locally produced tractor sales increased by 2% in 2024/6. 34,984 Import tractor sales decreased by 16% in 2024/6. 16,812 17,206 In 2024/6 export tractor sales decreased by 17% comparing to 2023/6. 2022 202

  20. Slide 20: ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑

    20 ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑

  21. Slide 21: Construction Equipment

    CONSTRUCTION EQUIPMENT — SSe. Construction Equipment Sales (unit) Local =lmport Total 3% increased 200 469 2022 2023 2023/6 2024/6 * TirkTraktér, which stepped into the construction equipment industry UCTION 4 > in 2013 as the distributor of CASE and New Holland branded Light Construction Equipment

  22. Slide 22: Agricultural Equipment

    AGRICULTURAL EQUIPMENT y ‘oxee Combine Sales (unit) In 2024/6, non-tractor revenue (equipment, CE, spare part, driveline) decreased by 25% compared to 2023/6 and its share J ii ut na decrease in total revenue realized as 16%. 2022 2023 2023/6 2024/6 Q% NEW HOLLAND * Agricultural equipment covers a w

  23. Slide 23: 2024 Expectations

    2024 EXPECTATIONS y Tractor Market > Turkish Tractor Industry Volume**: 58,000 — 64,000 units > Local Tractor Sales*/**: 30,000 — 33,000 units hfe ee > Tractor Exports: 13,500 — 15,000 units TiirkTraktOr > capex. 90-100 mittions *Sales to the dealers included imported tractors *Due to the slowdown i

  24. Slide 24: Financial Results

    GAkog FINANCIAL RESULTS yo YY vow ev TiirkTraktir7©... CNH

  25. Slide 25: 2024/1H Highlights

    TL 33.7 B Revenues, -9% YoY * Total tractor revenue -5% * Non-tractor revenue -25%, representing 16% of total revenue 2024/11 HIGHLIGHTS TL 7.8 B Gross Profit, 23.3% -10% YoY + Favorable country mix + Higher inventories penalizing margins of selected products + -0.3 pp lower than 2023/1H 25 TL 642 M

  26. Slide 26: Income Statement

    GA Kos (million TL) - Domestic Sales - Export Sales Total Sales Revenue Gross Profit Margin Net Operating Income Margin Profit Before Tax Margin Net Income Margin EBITDA Margin 2023/1H 26,748 10,086 36,834 8,697 23.6% 6,726 18.3% 6,537 17.7% 5,118 13.9% 7,402 20.1% TiirkTraktir7©... INCOME STATEMENT

  27. Slide 27: Turnover days

    27 *Turnover days are calculated according to 12-month rolling.

  28. Slide 28: Net Financial Position

    NET FINANCIAL POSITION (nition 11) 4 = Net Financial Position —NFP / EBITDA 8,174 -0.15 -914 2023 2024/1H GAKos TiirkTraktér7®.... CNH

  29. Slide 29: Investor Relations Contact

    INVESTOR RELATIONS CONTACT : Sila AKGAY Merig ONARGAN Investor Relations and Sustainability Team Leader Investor Relations Leader Specialist +90 312 2332502 @ +90 312 2332504 Sila. Akcay@turktraktor.com.tr Meric.Onargan@turktraktor.com.tr investorrelations@turktraktor.com.tr @AKog TiirkTraktér7©...

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