Tat Gida Sanayi A.s. · BIST:TATGD
Tat Gida Sanayi A.s — Tat Gıda Sanayi A.Ş. — Q2 2025 Earnings Presentation
39 slides from Tat Gida Sanayi A.s's earnings presentation, August 2025
Slide 1: 2nd Quarter 2025 Investor Presentation
2 nd Q U A R T E R 2 0 2 5 INVESTOR PRESENTATION AUGUST 2025 1
Slide 2: Disclaimer
Disclaimer With the Capital Markets Board Bulletin dated 28.12.2023 and numbered 2023/81, it was announced to the public that issuers and capital market institutions subject to the financial reporting regulations of the Capital Markets Board are required to apply inflation accounting in accordance w
Slide 3: Agenda
Veysel Memiş Chairman and General Agenda Manager 1 Corporate Profile Deniz Uysal Director of Investor 2 Operations Relations 3 Financial Results Hüseyin Yalçın 4 Forward Looking Expectations Financial Affairs and Planning Director 5 Appendices
Slide 4: Corporate Profile
Corporate Profile 4
Slide 5: Our History
Our History 1967 1970 1980 1983 1989 1993 Tat Konserve Türkiye’s first concentrated soup An aseptic production line Kagome-Tat Project was Tat set a precedent by producing Tat Konserve was founded and tomato paste in a tube were was established launched chopped and peeled tomatoes went public produc
Slide 6: We are the pioneers of healthy food transformation
We are the pioneers of healthy food transformation MISSION VISION We exist to lead the transformation that To be the healthy nutrition partner of our will provide everyone with access to consumers with our global brand from Türkiye, good and healthy food. supporting sustainable agriculture. • 58 yea
Slide 7: Tat Gıda at a Glance
Tat Gıda at a Glance Partnership Structure Memişoğlu Tarım Public (*) Ürünleri Ticaret Limited Şirketi % 48.07 3.5 28% 393 93 72% BLN TL MLN TL MLN TL % 51.93 %30 %15 N/A* Capital 244.8 mln TL Domestic sales Export sales Registered Capital Ceiling 2 mr TL Net Sales Gross Profit Operating Profit (*)
Slide 8: Production Facilities Close to Supply Chain and Distribution Network
Production Facilities Close to Supply Chain and Distribution Network Karacabey,Bursa Mustafakemalpaşa,Bursa 1977 1968 Opening Date Opening Date 216,500 m2 474,000 m2 Total Area Total Area 31,750 m2 Indoor Area 52,250 m2 Paste, Tomato Products Indoor Area Products Pastes (Tomato, Pepper), Tomato Prod
Slide 9: Our Products: Pastes
Pastes DomaTes Saucasi (a
Slide 10: Our Products: Tomato Category
Our Products Tomato Category
Slide 11: Our Products: Ketchups
Our Products Ketchups
Slide 12: Our Products: Mayonnaises
Our Products Mayonnaises
Slide 13: Our Products: Flavoring Sauces
Our Products Flavoring Sauces
Slide 14: Our Products: Vegetables
Our Products Vegetables
Slide 15: Our Products: Pickles
Our Products Pickles
Slide 16: Our Products: Ready Meals
Our Products Ready Meals
Slide 17: Our Products: Jams
Jams © = Fai re . Ekstra. Geleneksel 4 Ekstra Geleneksel ] J oben Gelenelse 9 bg Haea Celene Na bo isin Colonel 9 eRe 08 J ayisi Regell ® : (
Slide 18: Operations
Operations 18
Slide 19: Production Increasing as a Result of Growth-Oriented Investments
Production Increasing as a Result of Growth-Oriented Investments Tat Tomato Processing (Thousand tons) 2019-2024 CAGR: %4 • Tat Gıda secures 13% share of Turkiye’s processed tomato (%8) market in 2024 543 503 • In 2024, Tat Gıda processed 414 thousand tons of 450 414 tomatoes through effective inven
Slide 20: We Continue to Diversify Our Production
We Continue to Diversify Our Production Production distribution (ton, %) • In the first half of 2025, total production decreased by 5% compared to the same period of the previous year, reaching %7 %4 24,551 tons. %10 %19 %5 • The mentioned decrease in production is mainly due to the decline in produ
Slide 21: Ready for the Season with Our Production Capacity
Ready for the Season with Our Production Capacity Production and Sales Volume (thousand tons) • Tomato processing primarily takes place in Q3 due to seasonality. %4.2 • In Q2 2025, production increased by 5% year-on-year to -%12.1 14,864 tons. 160 00,00 % 159 20,00 % 158 40,00 % 157 60,00 % 156 80,0
Slide 22: Continued Price Pressure in Global Market
Continued Price Pressure in Global Market Export Revenues (mln TL) and Share (%) -%13.5 (%38.2) • In Q2 2025, export sales volume decreased mainly because of the drop in sales of ready meals, tomato 52, 50% 3.0 00,00 2.9 90,00 2.9 80,00 2.9 70,00 2.9 60,00 2.9 50,00 2.9 40,00 2.9 30,00 2.9 20,00 pas
Slide 23: Exporting to 41 Countries
Exporting to 41 Countries • U:S:A • Switzerland • Abkhazia • İtaly • Germany • Japan • Albania • T.R.N.C. • Australia • Canada • Austria • Qatar • Azerbaijan • Kosovo • Belarus • Kuwait • Belgium • Quba • U.A.E • Libya • Bosnia and • Lithuania Herzegovina • Hungary • Bulgaria • Uzbekistan • Czechia
Slide 24: Maintaining Market Leadership in Tomatoes and Pastes
Maintaining Market Leadership in Tomatoes and Pastes Tomatoes Tomatoes Products Pastes Ketchup Mayonnaise Ranking in Türkiye’s Market 1 1 2 3 Tat Gıda Revenue Market Share 34.2% 20.2% 15.9% 11.2% Source: Nielsen Haziran 2025 Raporu 24
Slide 25: We Enrich Our Product Portfolio with Appetizing Offerings
We Enrich Our Product Portfolio with Appetizing Offerings In the mayonnaise category, we have added 3 new flavored mayonnaise products to our portfolio to enhance our product variety and strengthen our innovative brand image in line with changing consumer habits. Tat Sriracha Mayonnaise 350 gr Tat B
Slide 26: Sustainability
Sustainability • We have been included in Borsa Istanbul’s Sustainability Index since 2016. • We have earned the “Committed” badge in the EcoVadis Sustainability Index. • First TSRS and sustainability report for 2024 to be published in September 2025. • Approximately 3,800 MWh/year electricity gener
Slide 27: Financial Results
Financial Results 2 0 2 5 2 nd Q u a r t e r R e s u l t s
Slide 28: Export Losses Compensated by Strong Domestic Sales
Export Losses Compensated by Strong Domestic Sales Net Sales Revenue (mln TL) -%23.7 • In Q2 2025, net sales revenue decreased by 10.2% year- -%10.2 on-year due to a decline in export sales • In the first half of 2025, domestic sales revenue increased 9.689 10. 200,00 10. 000,00 9.8 00,00 9.6 00,00
Slide 29: Gross Profit Continues to Grow Through Effective Cost Management
Gross Profit Continues to Grow Through Effective Cost Management Gross Profit (mln TL) & Gross Profit Margin (%) %26.1 16, 00% 1.0 00,00 • In Q2, the gross profit margin increased by 5 percentage %14 points compared to Q1, reaching 14%, driven by effective %40.8 773 cost management. 800 ,00 12, 00%
Slide 30: Operating Profit on an Upward Trend
Operating Profit on an Upward Trend EBITDA* (mln TL) & EBITDA margin (%) %69 %156 • In Q2 2025, the EBITDA margin increased by 4.7 percentage points year-on-year to 7.2%, driven by the improvement in COGS 15,00% 262,50 211 10,00% • In the first half of 2025, EBITDA amounted 175,00 %7,2 125 121 to 16
Slide 31: Financial Results Continue to Improve
Financial Results Continue to Improve Net Loss (mln TL) 2023 2024 2024 1H 2025 1H 114 -93 132 245 -93 -552 -21 -145 91 -91 -10 Net Loss Gross Profit Operating Operating İnvestment Financing Monetary Deferred Net Loss 2024 1H Expenses Costs Activities Loss/Profit Tax 2025 1H -473 • Gross profit incre
Slide 32: Liquidity Increases Net Financial Debt Continues to Decrease
Liquidity Increases Net Financial Debt Continues to Decrease Balance Sheet Summary (mln TL) 31 December 2024 30 June 2025 Financial Ratios 31 December 2024 30 June 2025 Current Assets 6,045 5,323 Fix Assets 2,938 3,028 Current Ratio 1.35 1.32 Total Assets 8,983 8,351 Cash Ratio 0.03 0.26 Short-Term
Slide 33: Net Financial Debt Declined
Net Financial Debt Declined Cash-Debt Position (mln TL) Cash Total Debt 29% 1,031 3,618 45% MLN TL 55% MLN TL 71% Financial Ratios 31 December 2024 30 June 2025 Net Working Capital 1,556 1,295 Short-Term Financial Debt Long-Term Financial Debt Net Financial Debt 3,584 2,588 3,096 46% 522 41% 54% MLN
Slide 34: Forward Looking Expectations
Forward Looking Expectations
Slide 35: Forward Looking Expectations
Forward Looking Expectations* 2025 2026 Expectation Expectation Sales Volume (tons) 140,972 150,858 Net Sales (Billion TL) 8.4 10.1 EBITDA Margin (%) %5 - %8 %11 - %14 Not: The amounts have been calculated according to the purchasing power of the year in which they were incurred. EBITDA: Operating P
Slide 36: Appendices
Appendices FİNANCIAL METRICS 36
Slide 37: Balance Sheet Summary
Balance Sheet Summary TL 31 December 2024 30 June 2025 Change % Current Assets 6,044,803,270 5,323,002,416 (12) Cash and Cash Equivalents 137,241,800 1,030,637,803 651 Accounts Receivables 1,201,059,786 1,415,773,996 18 Inventory 4,200,737,922 2,271,525,586 (46) Fixed Assets 2,937,973,544 3,028,058,
Slide 38: Summary of Income Statement & Profit Margins
Summary of Income Statement & Profit Margins TL 2024 6M 2025 6M Change % Revenue 4,139,180,635 3,515,905,621 (15) Domestic Sales (net) 2,421,692,782 2,531,878,883 5 Export Sales (net) 1,717,487,853 984,026,738 (43) Cost of Goods Sold 3,836,598,287 3,122,698,092 (19) Gross Profit 302,582,348 393,207,
Slide 39: Thanks
Thanks Deniz Uysal Investor Relations Director 0 216 430 00 00 yatirimciiliskileri@tat.com.tr https://www.tatgida.com.tr/tr/