Cimsa Cimento Sanayi Ve Ticaret A.s. · BIST:CIMSA
Cimsa Cimento Sanayi Ve Ticaret A.s — FY2025 Earnings Presentation
21 slides from Cimsa Cimento Sanayi Ve Ticaret A.s's earnings presentation, Feb 27, 2026
Slide 1: Financial Results '25
FINANCIAL RESULTS ‘25 February 27, 2026
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: 4Q25 & 2025 Snapshot
4Q25 & 2025 SNAPSHOT
Slide 4: 2025 Recap: A Year of Execution and Progress
2025 Recap: A Year of Execution and Progress Full-year consolidation Operational - Commissioning Operational Completed MANNOK ACQUISITION ESKİŞEHİR SPP & WHR US GREY CEMENT KRATOS ACQUISITION (IRELAND) INVESTMENTS GRINDING PLANT (AFYON ÇİMENTO) • Acquired for EUR330M • SPP – operational; • 600 kt gr
Slide 5: 4Q25 & 2025 Snapshot
4Q25 & 2025 Snapshot NET SALES 4Q25 2025 ➢ Cement consumption in Türkiye increased by 8.2% year-on-year in 11M25. 11.4 45.9 ➢ Türkiye’s cement & clinker exports grew by 19% y/y in 2025. TRYbn TRYbn ➢ Çimsa delivered organic volume growth in both 4Q25 and FY 2025. ▲ 2.1% y/y ▲ 24.6% y/y Consolidated
Slide 6: 2025 Year in Review: Strong growth in Türkiye's cement consumption & export
2025 Year in Review: Strong growth in both Türkiye’s cement consumption & export TÜRKİYE CEMENT & CLINKER CONSUMPTION* Domestic - mt Çimsa’s Regions - mt y/y y/y +9.7% +8.2% +11.9% +14.3% 74.8 69.2 74.9 • Cement & clinker consumption in Türkiye 68.1 29.3 31.0 26.2 27.1 increased by 8.2% y/y in 11M25
Slide 7: Strong volume momentum sustained in 2025 across international and Türkiye operations
Strong volume momentum sustained in 2025 across international and Türkiye operations • Çimsa’s consolidated sales volume increased by 16.7% ÇİMSA SALES VOLUME y/y in 4Q25, driven by growth in trading operations. For Consolidated Volume Breakdown- kt full-year 2025, sales volume rose by 26.1% y/y, y/
Slide 8: Higher petcoke prices & lower electricity prices in 2025
Higher petcoke prices & lower electricity prices in 2025 Average market electricity prices in USD terms were c.4% y/y lower in 2025. 2024 Average: USD70 2025 Average: USD67 79 77 71 72 70 71 74 72 70 65 64 69 65 68 69 65 66 66 66 64 59 64 55 56 ENERGY* Average market petcoke prices in USD terms were
Slide 9: Cost advantage achieved through increased alternative fuel usage
Cost advantage achieved through increased alternative fuel usage TR PLANTS (GREY CEMENT) BUNOL PLANT (WHITE CEMENT) MANNOK (GREY CEMENT) 40% 40% %80 2030 2030 2030 18% 30% 68% 2025 2025 2025 10% 28% 51% 2024 2024 2024 9
Slide 10: Financial Update
FINANCIAL UPDATE
Slide 11: Growth achieved at all lines in 4Q25 with substantial margin expansion
Growth achieved at all lines in 4Q25 with substantial margin expansion NET SALES EBITDA & EBITDA MARGIN* NET INCOME & NET INCOME MARGIN* TRYmn TRYmn TRYmn +24.6% EBITDA EBITDA Margin Net Income Net Income Margin 45,907 19.2% 19.8% 12.5% 15,000 15.0% 17.9% 20.0% 36,847 18,000 16.7% 13,000 8.0% 8.3% 1
Slide 12: Adjusted net income growth achieved in 2025
Adjusted net income growth achieved in 2025 Excluding the impact of SAHOL shares and one-off items net income increased by 33%. TRYmn +33.1% 367 74 4,915 960 3,998 (179) 3,806 620 3,693 4Q25: (170) (1,108) (926) Rep. '24 SAHOL Impact ('24) One-off Adj. '24 ∆ EBITDA ∆ Net Financial ∆ Tax Δ Other Adj.
Slide 13: Prudent balance sheet management
Prudent balance sheet management Well Diversified Debt & Cash Composition Efficient WC Management & Healthy Debt Levels 20 ,00 0 25 % 25,000 TRY9.7bn TRY5.2bn TRY28.0bn TRY14.0bn 2.38x 2.21x 2.50 18 ,00 0 Consolidated Cash Çimsa TR Cash Consolidated Debt Çimsa TR Debt 16 ,00 0 20 % 20,000 2.00 15% 1
Slide 14: Free cash flow generation through increased operating profit and prudent working capital management
Free cash flow generation through increased operating profit and prudent working capital management FCF*: TRY1,369mn FCF Conversion**: 17% 8,404 1,655 947 10,028 9,704 (8,578) (2,753) Cash @31.12.2024 CF From Operating Activities CF From Investing Activities CF From Financing Activities FX translati
Slide 15: Closing Remarks; Executing Our Strategy, Delivering Sustainable Long-Term Value
Closing Remarks; Executing Our Strategy, Delivering Sustainable Long-Term Value EBITDA (USDmn) Çimsa Shares Relative Performance*** CIMSA BIST100 Non-Metal BIST Min. Product Taş, Toprak 207 169 142 560 102 84 66 55 209 100 136 2019 2020 2021 2022 2023 2024 2025 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Dec
Slide 16: Thank You! Q&A
THANK YOU! Q&A
Slide 17: Appendix
APPENDIX
Slide 18: Profit & Loss Statement
Profit & Loss Statement TRY ‘000 w/ Dec. 2025 pp w/ Dec. 2025 pp 4Q24 4Q25 2024 2025 Net Sales 11,127,288 11,364,223 36,846,776 45,906,819 Cost of sales (9,316,193) (9,118,845) (28,935,475) (36,915,465) Gross Profit 1,811,095 2,245,378 7,911,301 8,991,354 General and administrative expense (1,404,43
Slide 19: Balance Sheet
Balance Sheet TRY ‘000 w/ Dec. 2025 pp w/ Dec. 2025 pp 2024 2025 2024 2025 TOTAL ASSETS 88,488,394 92,600,868 TOTAL LIABILITIES 88,488,394 92,600,868 Current Assets 25,238,684 24,996,196 Current Liabilities 32,378,702 22,653,322 Cash and cash equivalents 10,062,308 9,736,668 Short-term borrowings 9,
Slide 20: Cash Flow Statement
Cash Flow Statement TRY(‘000) w/ Dec. 2025 pp 2024 2025 A. CASH FLOWS FROM OPERATING ACTIVITIES 8,341,462 8,404,187 Profit before taxation 5,110,690 4,552,399 Adjustments to reconcile net profit/loss for the period 7,377,279 3,323,353 Changes in working capital (3,771,161) 1,083,189 Cash flows from
Slide 21: Thank You!
THANK YOU!
Çimsa Çimento Sanayi ve Ticaret A.Ş. — FY2025 Earnings Presentation on 6ix