Altinay Savunma Teknolojileri A.s. · BIST:ALTNY
Altinay Savunma Teknolojileri A.s — Altınay Savunma Teknolojileri A.Ş. — Q3 2024 Earnings Presentation
57 slides from Altinay Savunma Teknolojileri A.s's earnings presentation, 2024
Slide 1: Analyst Presentation 2024 Q3
Analyst Presentation 2024 Q3
Slide 2: Altınay Defense Group Overview, Fields of Activity, Sectoral Information, Financial Highlights
Altınay Sectoral Overview Information Altınay Financial Defense Highlights Group Fields of Activity
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Slide 4: Board
BOARD Hakan ALTINAY Z. Burak MERCAN Enis ATA Erdem COSKUN Kamil KILIC Omer EREN Chairman of the Board of Directors Member of the Board of Directors | Member of the Board of Member of the Board of Member of the Board Member of the Board of General Manager Directors Directors of Directors Directors Ma
Slide 5: I t z y P r e s e n t a t i
5 I t z y P r e s e n t a t i o n
Slide 6: Altinay Defense Group Overview
Altinay Defense Group Overview e alll Establishment Field of Activity IPO Date Backlog 2014 Defense and Aerospace Technologies, 217 USD Value Added Projects May 16, 2024 Million Paid-in Capital 2024/9M Revenue Number of Employees Subsidiaries 235.294.118 1.116,6 MTL 610 DASAL, TAAC
Slide 7: Vision and Mission
VISION As a leader and pioneering company in the global defense industry, Altinay Defense Technologies Inc. aims to exceed the expectations of its customers with its high-tech products. and solutions, to be a company that adds value to its employees and society, and to represent our country in the w
Slide 8: Company history timeline
1990-1994 2006 2010 2014 2019 2020 2021 2021 2022 2024
Slide 9: Shareholder Structure & Capital Allocation
SHAREHOLDER STRUCTURE & CAPITAL ALLOCATION Registered Capital Ceiling : 1.000.000.000 TL Paid-in Capital : 235.294.118 TL PARTNERS, Pe Amount (TL) Hakan Altinay 148.235.294 Letven Capital Venture Capital Portfolio Management Inc. Milres Venture Capital Investment Fund Other (Public) 28.235.294 58.82
Slide 10: Subsidiaries & Partnership Structure
SUBSIDIARIES & PARTNERSHIP STRUCTURE DASAL Aviation Technologies Inc. XY. y = 51% Altinay Defense Technologies, 49% ASELSAN partnership. Savunma = Inthe field of multi-rotor rotary-wing autonomous unmanned aerial aselsan platforms, Aselsan and Altinay Defense Technologies aim to become . the leading
Slide 11: Employee Distribution
Employee Distribution 223 113 89 65 33 34 12 12 16 0 2 11 Altınay TAAC DASAL It shows the number of employees as of 03.12.2024.
Slide 12: Gender Distribution and Number of Employees
Number of Employees Gender Distribution 269 249 226 208 72 92 43 41 20 AST TAAC DASAL It shows the number of employees as of 11.10.2024.
Slide 13: R&D and Design Offices, Production Facilities
R&D and DESIGN OFFICES ASSEMBLY & MANUFACTURING TEST AREA TEKNOPARK İSTANBUL, ANKARA FACILITY UAV TEST AREA Branch Office ŞEKERPINAR – GEBZE/KOCAELI R&D and PRODUCTION FACILITY R&D and PRODUCTION INDUSTRY LAND MAKİNE OSB-DİLOVASI / KOCAELİ HAB OSB-ANKARA
Slide 14: Altinay Defense Group Fields of Activity
ALTINAY DEFENSE GROUP FIELDS OF ACTIVITY
Slide 15: Altinay Defense Group Fields of Activity
Altinay Defense Group Fields of Activity ex ~ a -—
Slide 16: Altinay Defense Group Fields of Activity
Altinay Defense Group Fields of Activity UAV Satellite Communication Antenna Pedestal Fire Control System Helicopter Satellite Communication Antenna Helicopter Capture and Transfer System Barrel Path Lock System Pedestal Flight Control Actuators Helicopter JP-5 Fuel Transfer System Bullet Transfer S
Slide 17: Actuators, Mast Systems, Pedestals and other systems
Actuators ee Mast Systems } oe Stabilize Pedestals Flight Control Actuators at i etc Landing Gear Systems Unmanned Aerial Vehic' ~~ a Unmanned Ground Vehicles Helicopter Capture and Transfer System JP5 Fuel Transfer System RISMS. Demilitarisation and Critical Weapon Systems Production Systems —- Rel
Slide 18: Motion Control Systems
MOTION CONTROL SYSTEMS Within the scope of Motion Control Systems, we provide design, production, integration and after- sales support services on the basis of many critical subsystems and systems such as_ actuators, stabilized pedestals, gimbals, masts, test systems and servo motor drivers. With ou
Slide 19: Marine Systems
TAM YOLILERi HELIKOPTER GORUNMEZLIK LAZER ELEKTRONIK YENI Tip DENIZALT YAKALAMA ve ‘SiSTEMLERI TAARRUZ SISTEM ANTEN YONLENDIRME ‘TRANSFER SISTEMI STABILIZE PLATFORMU PEDESTAL Denizde de Ulkemizin disa bagimlligini kirtyoruz! MARINE SYSTEMS Altinay Defence has a special team of experts and intellectu
Slide 20: Weapon Systems
WEAPON SYSTEMS The systems it develops are specially designed according to the needs of the platforms. Altinay Defense offers end-to-end ready-to-use system solutions with its testing, qualification and production infrastructure. Starting with the F-16 SALAN System, MMU KAAN and Rotary Wing Drones c
Slide 21: Ammunition Disposal and Production Systems
The wars that increased with the 2000s made the ammunition production capacity and the recycling of expired ammunition critical for countries. With its Exproof unmanned machine design capability, Altinay Defense offers solutions that increase ammunition production capacities for our country and its
Slide 22: Unmanned Systems
UNMANNED SYSTEMS Within the scope of unmanned aerial vehicles, it provides mini class, light class, medium class and heavy class aerial platforms solutions according to their ability to carry different payloads and perform missions. These solutions can be used in day or night conditions according to
Slide 23: Unmanned Aerial Vehicle classes
MICRO CLASS LIGHT CLASS MIDDLE CLASS HEAVY CLASS UNMANNED AERIAL UNMANNED AERIAL UNMANNED AERIAL UNMANNED AERIAL VEHICLES TOOLS VEHICLES VEHICLES
Slide 24: Mini Class UAV
MINI CLASS UAV ROTARY WING KAMIKAZE UAV SYSTEM PEREGRINE-X4M PEREGRINE-X4M is a Rotary-Wing Kamikaze UAV system developed for use in the tactical field with target detection and destruction capability, which can be easily carried by a personnel in multiple quantities thanks to its light weight. 2 km
Slide 25: Light Class UAV
INTEGRATED INTO ROTARY WING MOVING VEHICLE LIGHT CLASS UAV UAV SYSTEM BEE-EATER Designed to perform reconnaissance, surveillance and intelligence operations, BEE-EATER has the ability to land autonomously on moving platforms and take off autonomously from these platforms. Thanks to the on-board stat
Slide 26: Light Class UAV
ROTARY-WING LIGHT CLASS UAV SCOUT UAV SYSTEM KIRLANGIÇ-X4A SWALLOW-X4A; Compared to its competitors, it stands out with its long flight time, resistance to harsh weather conditions, modular structure, easy installation and easy transportation by a single personnel; It is a Scout UAV system that has
Slide 27: Mid-Range UAV
ROTARY-WING 5,56 MM ARMED UAV MID-RANGE UAV FALCON-UCAV is a Rotary-Wing Armed UAV system that stands out with its FALCON-SİHA turret with 2-axis stabilized mobility, 5.56 mm caliber infantry rifle, superior recoil damper system and high bullet carrying capacity. It is designed to directly hit the t
Slide 28: Heavy Class UAV
ROTARY WING CARGO UAV SYSTEM HEAVY CLASS UAV PUHU-C75 is the leading Rotary Wing Cargo UAV system in its field with its long range, PUHU-C75 modular structure with high horizontal speed and 75 kg payload capacity. It delivers the support materials needed in the tactical field to the target area auto
Slide 29: Heavy Class UAV
HEAVY CLASS UAV ROTARY-WING CARGO UAV SYSTEM CONDOR-C150 CONDOR-C150 is a Rotary Wing Cargo UAV system designed to quickly and effectively transport critical support materials such as food and ammunition with its high payload capacity. With its unique design, it stands out as a platform that is uniq
Slide 30: Flight Control Actuators: KAAN, HURKUS, HURJET
KAAN Flight Control Actuators HURKUS HURJET
Slide 31: Landing Gear Systems
Landing Gear systems KAAN HÜRJET
Slide 32: Demirkus Test Systems
TEST SYSTEMS Demirkus Test Systems The Demirkus (Ironbird) Test System is one of the most sophisticated test systems developed in Turkey to date, and it is a test platform where all critical systems and sub-components of the aircraft, especially the flight control system, are tested. By measuring th
Slide 33: Motion Control Test Systems
TEST SYSTEMS PROPERTIES High Precision Positioning Full Digital Control User-Friendly Interface Motion Control Test Systems APPLICATIONS Actuator Testing and Verification Platform Testing and Validation Flight & Vehicle Simulators On-Cycle Hardware Testing Systems Platform and Actuator Test Systems
Slide 34: Excellence with a Quarter of a Century of Experience
Altınay Defence: Excellence with a Quarter of a Century of Experience! Altınay Defense continues its production and integration activities at the highest quality standards required by the defense and aerospace industry with its quarter-century of experience. In addition to design and development pro
Slide 35: 851000 | OU wa
851000 | 111 OU wa
Slide 36: FLaltinay | wicnenase
FLaltinay | wicnenase TY "77% ZA, as aN" . ee LI NSL LEZ
Slide 37: Manufacturing capabilities
• Machining • Cabling Production • Chipless Manufacturing • Electromechanical Assembly • Electronic Card Production • Testing & Qualification • 3D Printer Technology Electronic Kart 3 Axis 4 Axis 5 Axis Harnessing Back 3D Printer Grinding Press brake Laser Cutting
Slide 38: Certificates and Memberships
ume a ° © ee AS91 00 AS9100 ISO 9001 ISO 14001 CERTIFICATES AND MEMBERSHIPS OHSAS 45001 National Facility Security Certificate v NATO Facility Security Document REN CERTIFICATE 7c bsi. & Certificate of Registration
Slide 39: Sectoral Information
SECTORAL INFORMATION
Slide 40: Total World Military Expenditures
Total World Military Expenditures (USD Billion) 1200 1000 800 600 400 200 0 1988 1992 1996 2000 2004 2008 2012 2016 2020 2023 America 828 725,3 592 594,6 816,7 961 999,1 857,8 968,2 966,7 Asia & Oceania 134,6 158 171,6 194 239,4 300,5 378,6 417,3 549,7 608,8 Europe 674,1 357,7 293,4 301 323,1 354 35
Slide 41: Export
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 6 5 4 3 2 1 0 2004 2002 2003 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Export Source: 2024-2028 Defense Industry Sectoral Strategy Document
Slide 42: Financial Indicators
FINANCIAL INDICATORS
Slide 43: 9-Month Period Revenue FX Breakdown
9-Month Period Revenue FX Breakdown 1,30% TRY Revenue Foreign Currency 98,7% Revenue %89 CAGR (‘21-’24) Yearly (M USD) 9 Month Term (M USD) 56,5 37,5 18,6 35,9 8,3 34,9 2023/9M 2024/9M 2021 2022 2023 2024 (E)
Slide 44: EBITDA by Year and 9-Month EBITDA
EBITDA by Year (M USD) 9-Month Period EBITDA (M USD) 24,0 16,6 14,1 7,9 2,9 2,2 2021 2022 2023 2024 (E) 2023/9M 2024/9M
Slide 45: Net Profit Before Tax
Net Profit Before Tax by Year (M USD) 9 Month Net Profit Before Tax (M USD) 10,6 6,75 5,0 4,0 3,0 2,0 0,9 1,0 0,3 1,0 - 2021 2022 2023 2023/9M 2024/9M
Slide 46: 9-Month Profit Margin Comparison
9-Month Profit Margin Comparison %50 %66 %19 %18 %6 %5 Gross Profit Margin EBITDA Margin Profit Before Tax Margin 2023/9M 2024/9M
Slide 47: Return on Equity & Assets, Debt Service Coverage
Return on Equity & Return on Assets Revenue – EBITDA (M TL) September 2023 September 2024 September 2023 September 2024 Debt Service Coverage Ratio 4,00 3,61 3,50 3,00 2,50 2,27 2,10 2,00 1,66 1,48 1,50 1,00 0,56 0,48 0,50 -- March 2023 June 2023 September 2023 December 2023 March 2024 June 2024 Sep
Slide 48: 1.389 1000 -200 2021 2022 2023 -400 -600 -800 2023/9M 2024/9M 2021 2022 2023
232 1.389 321 121 171 1000 800 600 806 869 400 476 200 0 -200 2021 2022 2023 -400 -600 -800 2023/9M 2024/9M 2021 2022 2023
Slide 49: 2024/9M Financial Liabilities
50 2024/9M Financial Liabilities 2024/9M Financial Debt Profile Distribution by Years 595.4 900.8 -305.4 5-10 Yıl 4-5 Yıl 9% 3-4 Yıl 4% 6% 2-3 Yıl 6% S.T. 1-2 Yıl L.T. 7% 0-1 Yıl 68% Financial Cash and Cash Net Liabilities Liabilities Equivalents
Slide 50: 2024/9M Turnover Distribution by Business Group
2024/9M Turnover Distribution by Business Group Consolidated Net Sales 2021 % 2022 % 2023 % 2024/9M % Amount (M TL) Motion Control Motion Control Systems 43,9 16,7% 53,1 9,0% 74,7 6,3% 150,5 13% Production Test Systems Systems 8% Unmanned Systems 37,3 14,2% 39,0 6,6% 36,1 3,1% 66,0 6% 13% 13% Marine
Slide 51: New Contracts and Backlog Insights
New Contracts Acquired Over the Years (USD Million) 155,3 81,0 Backlog* Insights (USD Million) 47,0 32,6 18,6 250 217 200 2020 2021 2022 2023 2024 150 92 80 100 45 The total backlog amount of 217 Million USD, 50 Between 2025 and 2027, it is expected to return to turnover as -- shown in the table. Cu
Slide 52: September 2024
9,7 9,2 9,0 0,6 1,6 1,4 8,7 5,5 0,8 1,0 9,1 7,6 7,6 7,9 4,6 2020 2021 2022 2023 September 2024
Slide 53: Use of IPO proceeds
1. New Facility Investments and Production Technologies Investments 50% 537,0 129,3 407,7 2. Test and Verification Technologies and R&D and P&D Investments 15% 161,1 9,6 151,5 3. Global Sales and Marketing Network Investments 5% 53,7 12,9 40,8 4. Strengthening Working Capital 15% 161,1 160,3 0,8 5.
Slide 54: Assets and Resources (TL)
Assets (TL) 2021 2022 2023 2024/9M Resources (TL) 2021 2022 2023 2024/9M Current Assets 806,0 476,1 1.083,8 2.733,6 Short-Term Liabilities 484,8 355,1 870,5 1.344,8 Cash and cash equivalents 556,4 40,8 112,3 653,6 Short-term borrowings 34,7 38,2 153,7 328,5 Financial Investments 0,0 0,0 - 247,2 Shor
Slide 55: 262,7 588,7 1184,8 964,4 1.116,6 -96,0 -287,9 -719,2 -792,4 -563,4 166,6 300,8 465,6 172,1
262,7 588,7 1184,8 964,4 1.116,6 -96,0 -287,9 -719,2 -792,4 -563,4 166,6 300,8 465,6 172,1 553,2 -13,7 -31,6 -35,3 -36,2 -62,3 -3,7 -0,1 -2,3 -8,2 -10,4 -49,7 -38,3 -64,0 -61,8 -165,0 126,2 84,9 291,4 341,4 152,6 -171,2 -124,3 -271,8 -405,7 -96,91 54,7 191,4 383,6 1,5 371,2 - 12,9 1,0 0 51,6 54,7 20
Slide 56: Future period data do not constitute a commitment
P r e s e n t a t i o n I t z y The data for the future period in this presentation do not constitute a commitment. The expectations/forecasts reflected in the presentation may be affected by changes in various variables and assumptions, and there may be significant differences between them and the
Slide 57: Investor relations contact
+90 216 504 00 50 yatirimci.iliskileri@altinay.com
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