Kimteks Poliuretan Sanayi Ve Ticaret As · BIST:KMPUR
Kimteks Poliuretan Sanayi Ve Ticaret As — FY2022 Earnings Presentation
44 slides from Kimteks Poliuretan Sanayi Ve Ticaret As's earnings presentation, March 2023
Slide 1: Kimteks Poliüretan Sanayi ve Ticaret A.Ş. 2022 Business Results
KİMTEKS POLİÜRETAN SANAYİ VE TİCARET A.Ş. and its SUBSIDIARIES 2022 Business Results Investor Presentation March 2023
Slide 2: Cavidan Karaca, CEO & Vice Chairman
Cavidan Karaca CEO & Vice Chairman of the Board of Directors 2015 Kimpur - CEO and Vice Chairman of the Board of Directors 2014 Kimteks Kimya Tekstil Ürünleri A.Ş. - Consultant 2002 Innovis Ticaret ve Danışmanlık A.Ş. - General Manager 2001 Omsan Lojistik A.Ş. - Purchasing Director 1997 Arçelik A.Ş.
Slide 3: 1 | Overview
1 | Overview
Slide 4: Why Kimpur?
WHY KİMPUR? OUR VISION To be one of the world's top 10 players in polyurethane systems with innovative products and extraordinary solutions ➢ Turkey's first domestic capital polyurethane systems manufacturer that blends "Advanced Technology" systems based on "Smart Business Model" with agile & lean
Slide 5: Kimpur in All Areas of Life
KIMPUR IN ALL AREAS OF LIFE SOLAR PANEL SYSTEM ROOF INSULATION (Spray Systems) ROCK WOOL / EPS ADHESIVE FRAME (Wood Imitation) SANDWICH PANEL (PUR/PIR) BED HEAD (Wood Imitation) OFFICE CHAIR VISCO PILLOW VISCO BED COOLING SYSTEMS CAR SEAT (HR Foam Systems) CEILING TILE (Semi-Rigid) GARAGE DOOR WATER
Slide 6: Our Global Activities
OUR GLOBAL ACTIVITIES Company Country Capital Share (%) Field of Activity Kimpur Russia Russia %100 Sales, warehousing & distribution service Kimpur Wholesale of plastics and rubber in primary Kimplast Turkey %83 Kimpur Russia form Europe Kimpur 25 kton capacity polyurethane production, Latvia %75 E
Slide 7: Numbers at a Glance
NUMBERS AT A GLANCE: 39 155 kton 65 kton 10 52 254 %32 600+ ANNUAL PRODUCTION DÜZCE VISION COUNTRY EMPLOYEE EXPORTS PRODUCT EXPERIEN CAPACITY INVESTMENT TO BE ONE OF EXPORT (27 R&D) / TOTAL DIVERSITY CE • 130 kton Gebze • 50 kton PU THE TOP 10 TONNAGE • 25 kton Latvia • 10 kton EVA GLOBAL PLAYERS •
Slide 8: KMPUR's Successful Progress After IPO
KMPUR's Successful Progress After IPO April 2022 August 2022 November 2022 December 2022 ➢ Yıldız Pazar: ➢ Corporate Governance ➢ BIST 100: ➢ Dividend Index: • 3rd largest IPO of 2022 (CG) • Kimpur became one of the 100 • Kimpur was included in the with 957mTL largest stocks index Index: according t
Slide 9: Supply Chain & Logistics Management
SUPPLY CHAIN & LOGISTICS MANAGEMENT ▪ Turkey's largest acquisition volume in the sector Kimpur Logistics Warehousing Network ▪ ~90% import rate in production inputs ▪ European and Far Eastern producers in raw material supply ▪ Proactive raw material forecasting & cost studies in line with SAP & MRP
Slide 10: Our Strategic Priorities
2 \ Our Strategic Priorities
Slide 11: Prominent Investment Elements
PROMINENT INVESTMENT ELEMENTS Reliable Solution Partnership R&D Center & Innovative Practices Leading the Industry Strong Domestic & Export Growth Strategy with Wide Product Range Environmental and Social Sustainability Sustainable Expansion Policies Strong Financial Performance
Slide 12: i. Reliable Solution Partnership
i. Reliable Solution Partnership
Slide 13: Reliable Solution Partnership
RELIABLE SOLUTION PARTNERSHIP Product Management Human Supply Chain Resources Management ❖ Brand Awareness ❖ Global and Agile Organizational ❖ Competitive Product Lead ❖ Customer Loyalty Structure Time ❖ Sectoral Diversity ❖ Expert and Experienced R&D Team ❖ Strong Supplier Relations ❖ Wide Product
Slide 14: ii. R&D Center & Innovative Applications Leading the Industry
ii. R&D Center & Innovative Applications Leading the Industry
Slide 15: Pioneer in the Sector with its R&D Center
PIONEER IN THE SECTOR WITH ITS R&D CENTER 31.1 R&D Expenditures (mTL) Kimpur Turkey's Polyurethane R&D Power 9.9 8.1 5.2 6.0 Among the 250 companies with the highest R&D 1.8 expenditures 2017 2018 2019 2020 2021 2022 Patents related to Science, Industry and Development of Raw Materials polyurethane
Slide 16: iii. Wide Product Range, Strong Domestic & Export Growth Strategy
iii. With Wide Product Range Strong Domestic & Export Growth Strategy
Slide 17: Global Polyurethane Market
GLOBAL POLYURETHANE MARKET Global Polyurethane Market Volume Factors/Trends Affecting Global Market Volume ✓ Polyurethane has become an important part of many sectors in the world thanks to its versatile use ✓ Increasing demand for lightweight, durable and high- performance products in many areas fr
Slide 18: Polyurethane Market in Turkey
POLYURETHANE MARKET IN TURKEY DOMESTIC PU CAPACITY 2016 2017 2018 2019 2020 2021 2022 Rigid 206,230 213,190 215,490 215,420 207,110 216,210 223,980 Flexible 151,480 157,300 149,130 143,800 138,100 144,890 149,980 Elastomers 89.280 95.982 101,105 110,822 119,665 126,284 130,519 Coatings 58.477 60.785
Slide 19: Strong Positioning in Different Sectors with Diversified Revenues
STRONG POSITIONING IN DIFFERENT SECTORS WITH DIVERSIFIED REVENUES Sales (Thousand 2020 2021 2022 22/21 % Tons) Domestic 49.4 64.7 71.5 10, Shoe 18.3 20.0 24.2 Rigid 23.3 33.6 34.0 Flexible 3.0 3.1 3.5 Case 1.2 0.90 Polyester 0.9 1.5 Raw Material 2.0 5.0 Other 0.7 Export 23.4 Shoe 11.8 Rigid 8, Flexi
Slide 20: Kimpur Product Groups
KIMPUR PRODUCT GROUPS Sales Breakdown of Product Groups by Year, Quantity (%) 2,7% 1,1% 1,1% 0,2% 1,2% 1,7% 1,8% 1,5% 2,2% 1,1% 3,0% 1,5% 7,8% 5,5% 5,4% 12,7% 3,3% 6,8% 7,8% 2,7% 41,3% 36,8% 37,4% 46,1% 43,3% 46,4% 44,7% 32,9% 2019 2020 2021 2022 Rigid Shoe Raw Material Flexible Polyester Case Other
Slide 21: Rigid Foam Systems (Rigid)
RIGID FOAM SYSTEMS (RIGID) ▪ Two-component rigid foam systems for insulation purposes for Rigid Foam Systems Sales Amount (Ton) insulation panel and White Goods sectors • The first component is a physical mixture of polyether polyols, 46.784 45.784 catalyst, surfactant, water and/or blowing agents c
Slide 22: Shoe & Slipper Systems
SHOE & SLIPPER SYSTEMS ▪ Expanded microcellular foams in both ester and ether form Sales Quantity of Shoe Systems (Ton) for all types of footwear soles, from occupational safety to sports and everyday products ▪ KIMfoot® are 3-component Polyester systems: 39.250 39.122 • First component Polyester Po
Slide 23: Flexible Foam Systems
FLEXIBLE FOAM SYSTEMS Flexible Foam Systems Sales Amount (Ton) ▪ MDI based KIMflex® Flexible Foam Systems produced by Kimpur; • HR foam systems, • Viscoelastic systems, 8.680 • Integral systems • They are classified as filter systems. 7.871 ▪ Systems for flexible foam and integral production of seat
Slide 24: Special Products
SPECIAL PRODUCTS Special Products Sales Amount (Tons) ▪ Polyurethane Systems for elastomeric applications in expanded foams and non-foam structures. 1.563 ▪ Reaction Injection Moulding (RIM), Micro-cellular Structural Foam RIM, 1.593 SRIM (Structural RIM Composites) and low density RRIM (Reinforced
Slide 25: Polyester Polyols
POLYESTER POLYOLS Sales Amount of Polyester Polyols (Tonnes) 3.179 2.920 ▪ It manufactures KIMpol® Polyester Polyols consisting of multifunctional combinations of carboxylic acids and 1.932 polyhydric alcohols with various functionalities to offer the best solutions to industries such as the footwea
Slide 26: Raw Materials
RAW MATERIALS ® Raw Material Sales Amount (Ton) 9.189 8.159 ▪ The raw materials supplied by Kimpur are collected under Kimraw® product group and used in many different fields such as plasticisers, adhesives, construction chemicals and paints, especially polyurethane systems. 6.009 6.000 2.399 1.655
Slide 27: Strong Export Growth Strategy (52 Countries)
STRONG EXPORT GROWTH STRATEGY (52 COUNTRIES)
Slide 28: Strong Export Growth Strategy
STRONG EXPORT GROWTH STRATEGY ▪ Sales to more than 50 countries / more than 1,000 current Development in the Number of Export Countries customers 52 47 with a sales team based in Turkey & abroad 44 41 ▪ In 2022, exports reached TL 1,594 million, up 189% 34 compared to 2021 25 ▪ Increasing momentum o
Slide 29: iv. Environmental & Social Sustainability
iv. Environmental & Social Sustainability
Slide 30: Sustainability Will Come with Kimpur
Investment Elements SUSTAINABILITY WILL COME WITH KIMPUR Environmental and Social Sustainability For a Sustainable Future We Create Values! OUR JOURNEY OUR JOURNEY OUR JOURNEY OF ADDING OF ADDING VALUE At Kimpur, we believe that sustainable growth is not OF ADDING VALUE VALUE TO OUR LIFE TO OUR JOB
Slide 31: Sustainability Will Come with Kimpur
8. Sustainability Committee •assessing possible risks and measures related to occupational health and safety, determining measures and reporting to the Executive Board •To identify priorities, assess nsk and opportunities related to economic, environmental and social sustainability 8. Sustainability
Slide 32: Our Commitments & International Standards
Investment SUSTAINABILITY WILL COME WITH KIMPUR Elements Our Commitments International Standards As Kimpur, we aim to carry out activities that benefit the environment and society in all areas we operate. For this purpose, we carry out our work in compliance with certain quality standards. As a sign
Slide 33: Completed Projects
Investment COMPLETED PROJECTS Elements ✓ 11.6% in 2020 - 7.1% in 2021 Energy Savings ✓ Target of approximately 20% clean energy and 200-250 tons/year carbon emission reduction with the SPP investment in Gebze ✓ Business Plastics Initiative (IPG) Commitments ✓ Carbon and Water Footprint Measurement ✓
Slide 34: Sustainable Expansion / Düzce Investment
SUSTAINABLE EXPANSION / DÜZCE INVESTMENT March 2022: Production factory Construction Start Date investment on 17.015m2 land in Gümüşova OSB End of April 2023: Construction Completion Date USD 15 million April 2023: investment size Kimpur Duzce Factory Investment Phase 1 Start of Production ▪ An addi
Slide 35: v. Strong Financial Performance
v. Strong Financial Performance (2022 - Critical Financial Indicators)
Slide 36: Zafer Demirel, CFO
Zafer Demirel CFO 2022 Kimpur – CFO 2018 Anadolu Isuzu – Head of Finance, Reporting & IR 2015 Sütaş - Financial Control & Business Development 2013 Anadolu Efes - Financial Reporting & Budgeting 2009 Borusan Holding - Financial Control & Reporting 2006 Deloitte - Audit Middle East Technical Universi
Slide 37: 2022: Increased Exports & Stable Growth
2022: INCREASED EXPORTS & STABLE GROWTH Net Sales (Million TL) CAGR: %128 4.890,0 1.594,1 2.172,7 552.5 3.295,9 938.8 292.6 1.620,2 646.1 2020 2021 2022 * Domestic Export Total Sales * Registered exports and exports to free zones have been
Slide 38: 2022: Strong Growth in Profitability
2022: STRONG GROWTH IN PROFITABILITY Gross Profit (Million TL) EBITDA (Million TL) 17,5% 768.7 25,4% 759.2 15,7% 550.9 15,5% 379.4 2021 2022 2021 2022 Net Profit (Million TL) 14,6% 12,2% 598.0 316.4 2021 2022
Slide 39: Strict Balance Sheet Management & Record Levels of Financial Indebtedness Ratios
STRICT BALANCE SHEET MANAGEMENT & RECORD LEVELS OF FINANCIAL INDEBTEDNESS RATIOS Net Financial Debt (Million TL) Net Business Capital (Million TL) 1.19 0.88 0.89 0.81 0.77 791 795 878 48,1% 759 45,3% 45,5% 710 707 40,5% 665 581 31,4% 483551 1.542 1.627 1.538 1.308 984 2021 2022 Mar* 2022 Jun Sep 202
Slide 40: 2022: Record Profitability & Strong Balance Sheet Ratios
2022: RECORD PROFITABILITY & STRONG BALANCE SHEET RATIOS 4,890 mTL Net Sales, +125 3,296 mTL Domestic Sales, +103 1,594 mTL Exports*, +189 vs 2021 vs 2021 vs 2021 • Domestic: +103 • Wide customer portfolio in 6 • Export to 52 • Exports*: +189 different sectors countries 759 mTL EBITDA, +38 598 mTL N
Slide 41: 2022 4th Quarter Highlights
2022 4. ▪ Continued strong Q4 net revenue growth ▪ Compared to Q3, stronger gross profit & operating Quarter profitability Highlights ▪ Record strong balance sheet ratios 1.525 billion TL Net Strong Net Revenue growth of +134% vs 4Q21: 651 mTL Revenue %16 2022 Realization of TRY240m in gross profit
Slide 42: Financial Priorities
FINANCIAL FINANCIALPRIORITIES PRIORITIES ✓ Sustainable profitability growth ✓ Strict balance sheet & business capital management ✓ Positive Free Cash Flow Priority ✓ Proactive currency risk management ✓ Effective financial debt management ✓ Maximum dividend yield
Slide 43: Financial Priorities: 2023 Prospects & Opportunities
FINANCIAL PRIORITIES 2023 Prospects & Opportunities ✓ Impact of the European energy crisis ✓ Differences in Europe - Far East raw material prices ✓ Increase in demand due to container production after the earthquake ✓ Russian market - opportunities ✓ Newly commissioned R&D projects ✓ New products to
Slide 44: Contact
CEO: Cavidan Karaca cavidan.karaca@kimpur.com CFO: Zafer Demirel zafer.demirel@kimpur.com IR: Damla Mermeroglu damla.mermeroglu@kimpur.com investorrelations@kimpur.com info@kimpur.com / www.kimpur.com Central Office Factory Gaziantep Branch Emniyet Evleri Mah. Eski Büyükdere Cad. Sapphire Gebze Plas
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