Akcansa Cimento Sanayi Ve Ticaret A.s. · BIST:AKCNS
Akcansa Cimento Sanayi Ve Ticaret A.s — Q3 2023 Earnings Presentation
15 slides from Akcansa Cimento Sanayi Ve Ticaret A.s's earnings presentation, Oct 26, 2023
Slide 1: Q3 2023 Akçansa Results
Q3 2023 Akçansa Results October 26, 2023 Jason South, CFO
Slide 2: Key messages for Q3 2023
Key messages for Q3 2023 ▪ Strong operational performance: ▪ Q3 revenue up 66%, EBITDA up 216% ▪ 9M revenue up 81%, EBITDA up 204% ▪ Competent distribution network enabled Akçansa benefit from robust domestic demand as Turkish cement exports were contracting ▪ Higher energy margin and fixed cost dis
Slide 3: Total cement demand in Turkey increased by 20% in July '23 vs '22
Total cement demand in Turkey increased by 20% in July ’23 vs ’22 with 36.3 mio t 7% 16% 32% 31% 7% 23% 28% Akcansa Cement Factories Akcansa’s core market Marmara Region represents 25% of total domestic market. Source: TCMA and company estimations 3
Slide 4: Flexible distribution network key as market demand shifts
Flexible distribution network key as market demand shifts Turkish Cement Market (kTon) 20% Akcansa Revenue Distribution 2022 2023 36,343 2022 9M 2022 FY 2023 9M Dom. Cement (7-M YTD) 16% 31% 30,226 28% 7% 7% 9,103 32% +23% 7,842 7,726 34% 6,230 5,918 4,871 42% 3,593 3,834 3,739 4,014 47% 2,045 2,698
Slide 5: Company Performance
Company Performance 5
Slide 6: Volume in line with expectations, seasonality drove in YTD CEM decrease
Volume in line with expectations, seasonality drove in YTD CEM decrease +0.9% +12.6% -3.2% 1,956 1,974 5,464 5,292 1,754 -3.0% +13.7% +10.1% 772 749 2,118 658 1,924 CEM (mt) RMC (mm3) CEM (mt) RMC (mm3) 3Q22 2Q23 3Q23 9M22 9M23 6
Slide 7: Q3 profitability benefited from Lira depreciation despite higher energy costs
Q3 profitability benefited from Lira depreciation despite higher energy costs Net Sales (mTRY) EBITDA (mTRY) EBITDA Margin Net Income (mTRY) +65.9% +29.4% +216.4% 13.81 bps +58.7% +48.1% +27.5% -0.44 bps 4,291 1,310 1,246 29.5% 29.0% 3,316 977 885 2,586 825 1,098 15.2% 257 795 394 568 212 90 3Q22 2Q
Slide 8: Favorable product mix & lower weight of energy cost drove robust financial results
Favorable product mix & lower weight of energy cost drove robust financial results Net Sales (mTRY) EBITDA (mTRY) EBITDA Margin Net Income (mTRY) +81.4% +147.3% 11.07 bps 10,649 2,867 +208.0% 26.9% 2,869 5,870 15.9% 2,485 1,159 932 563 596 382 9M22 9M23 9M22 9M23 9M22 9M23 9M22 9M23 Deferred Tax Inc
Slide 9: Strong FCF & WCAP management led to net cash position
Strong FCF & WCAP management led to net cash position Cash Conversion Rate: 54.3% 3.000 2.869 6.000 2,4 Net Debt/EBITDA (LTM) 5.500 2,2 2.700 Net Debt (mTL) 5.000 2,0 2,0 -294 2.400 4.500 1,8 2.100 4.000 1,6 3.500 1,4 1,4 1.800 -673 167 1.558 3.000 1,2 -344 1.500 -167 2.500 1,0 2.000 0,8 1.200 1.500
Slide 10: Continuous ESG focus resulted in higher ranking in Refinitiv, #2 globally
Continuous ESG focus resulted in higher ranking in Refinitiv, #2 globally 2023 Score -8% 770 753 753 35 724 705 88 649 +9 23 2nd of 119 in global ranking 22 19 18 14 2022 Score B B A- 2019 2020 2021 2022 2023 9M 2030 2019 2020 2021 2022 2023 9M 2030 Climate Water Supplier Change Security Engage. CO2
Slide 11: Q&A
Q&A Heidelberg O Materials O@eanc!
Slide 12: Follow Us
Follow Us /AKCANSA /COMPANY/AKCANSA /AKCANSA /AKCANSA 12
Slide 13: Disclaimer
Disclaimer This presentation (Presentation) has been prepared by Akçansa Çimento Sanayi ve Ticaret A.Ş. for the sole purpose of providing information relating to Akçansa (Information). This Presentation is based on public information and data provided by Akçansa management and basically demonstrates
Slide 14: Contact Information
Contact Information Jason South CFO Dinçer Bulan Financial Planning, Analysis & IR Group Manager Ahmet Yılmaz Financial Planning, Analysis & IR Manager Hilal Yıldız Çelik Corporate Governance Executive investor.relations@akcansa.com.tr 14
Slide 15: Heidelberg Materials
Heidelberg Materials Heidelberg CO ieee? odeanc:
Akçansa Çimento Sanayi ve Ticaret A.Ş. — Q3 2023 Earnings Presentation on 6ix