Sdt Uzay Ve Savunma Teknolojileri A.s. · BIST:SDTTR
Sdt Uzay Ve Savunma Teknolojileri A.s — H1 2024 Earnings Presentation
50 slides from Sdt Uzay Ve Savunma Teknolojileri A.s's earnings presentation, Sep 19, 2024
Slide 1: Investor Presentation 1H2024
INVESTOR PRESENTATION 1H2024 September 19, 2024
Slide 2: Table of Contents
Sectoral Overview SDT at a Glance Areas of Operation Table of Sustainability Activities Contents Financial Information Strategy and Objectives 2/45
Slide 3: Sectoral Overview
=) Sectoral Overview UZAY & SAVUNMA TEKNOLOVILERI
Slide 4: Global Defense Expenditures
Global Defense Expenditures (in billions of U.S. dollars) 4/45 Source : SIPRI Military Expenditures Database, April 2024
Slide 5: NATO Defense Expenditures (1/2)
NATO Defense Expenditures (1/2) 5/45 Source: NATO Press Release, Defense Expenditures of NATO Countries (2014-2024)
Slide 6: NATO Defense Expenditures (2/2)
NATO Defense Expenditures (2/2) Ratio of Defense Expenditures to Gross Domestic Product (GDP) NATO Expenditure Minimum Requirement Source: NATO Press Release, Defense Expenditures of NATO Countries (2014-2024) 6/45
Slide 7: Turkish Defense Budget Figures for 2023-2024
Turkish Defense Budget Figures for 2023-2024 529 Billion TL 1.3 Trillion TL 10.2% of the Increase Rate: 114% Central Budget 2023 Budget 2024 Budget 7/45 Source: * Citizen's Budget Guide, 2024 Budget - Presidency of the Republic of Turkey, Presidency of Strategy and Budget, January 2024
Slide 8: SDT at a Glance
=) SDT at a Glance UZAY & SAVUNMA TEKNOLOVILERI
Slide 9: SDT Overview
SDT Overview Date of Establishment: February 11, 2005 Founder: Mehmet Dora, with four decades of expertise in the defense and aerospace Vision sectors. • To establish a premier position as the leading privately-owned enterprise in Technology Company Specializing in Turkey within the domains of defen
Slide 10: Milestones in Company Development
Milestones in Company Development Initial Public Offering (IPO) Investment in CEY Signing of the First Defense and Sirius System Integration First Major Software Design Laboratory Project Contract with Development Project Relocation to the the Presidency of 2023 in the Energy Sector Titanium Block a
Slide 11: Company Shareholding Structure, Group Companies, and Collaborations
Company Shareholding Structure, Group Companies, and Collaborations Current Shareholding Structure Group Companies & Partnerships 12.249.600 21% 50%-50% 40% Shareholding in Collaborative R&D for Defense Initiative in the Field Electronics and 3.410.400 of RF Jamming 36.540.000 Unique Product 6% Syst
Slide 12: Board of Directors and Senior Management
Board of Directors and Senior Management Mehmet DORA Chairman of the Board of Directors M. Fatih ÜNAL Undergraduate : Istanbul University - Beril DORA Acting Chairman of the Board of Directors Economics Board Member Undergraduate : Middle East Technical Undergraduate : Northwestern University, IL, U
Slide 13: Demographic Structure – 1H2024
Demographic Structure – 1H2024 Gender Distribution %31 %69 Female Staff Male Staff 77 Individuals 174 Individuals Breakdown by Role Type Company-wide Educational Background Company-Wide Overview Distribution 31% 29% 44% WHITE COLLAR 71% 177 Individuals 17% 15% BLUE COLLAR 23% 29% 74 Individuals 5% 1
Slide 14: Areas of Operation
=) Areas of Operation UZAY & SAVUNMA TEKNOLOVILERI
Slide 15: Scope of Activities
Scope of Activities Radar, Electronic Warfare, and Communication Simulation Systems Systems and Information Technology Mission Systems Production Programs 15/45
Slide 16: Radar, Electronic Warfare & Communication Systems
Radar, Electronic Warfare & Communication Systems Radar System Synthetic Aperture Radar (SAR) Modes: Stripmap, Spotlight ISAR Mode Utilized in UAV (ANKA) Electronic Warfare Systems RF Signal Analysis System (KILAVUZ) Guided Missile Simulator (PELİKAN) Communication and Radar Threat Simulator Anti-Dr
Slide 17: Simulation Systems and Information Technologies (1/3)
Simulation Systems and Information Technologies (1/3) Image Processing Satellite Ground Station Energy Systems and Digital Twin Technologies National Seismic Data Processing Software Software Provider for the Sakarya Natural Gas Field Artificial Intelligence Digital Twin Project Deep Learning Imagin
Slide 18: Simulation Systems and Information Technologies (2/3)
Simulation Systems and Information Technologies (2/3) Land and Naval Combat Training Systems Small Arms Shooting Training Simulator Air Defense Missile Training Simulator Anti-Tank Missile Training Simulator Tactical Ballistic Missile Training Simulator 18/45
Slide 19: Simulation Systems and Information Technologies (3/3)
Simulation Systems and Information Technologies (3/3) ACMI (Air Combat Maneuvering Instrumentation) Pilot Tactical Training System Among the Few Producers Worldwide One of the Most Technologically Advanced Training Simulation Systems 19/45
Slide 20: Mission Systems
Mission Systems Platform Management Data Recording Systems Defence Systems Systems Flight Computers for ATAK Helicopter Control Computers Aircraft, Helicopters, and F-16 Fighter Jet Fire Control Units UAVs ANKA UAV Electronic Units for Altay T-38 Training Aircraft Tanks and Land Vehicles ASELPOD Tar
Slide 21: Production Programmes
Production Programmes RF Jammer Systems Munition Guidance Aircraft Arresting System Electronics Fixed Hook Arrest System Mobile Arrest System KGK: Winged Guidance System HGK: Precision Guidance System Networked Arrest System Vehicle-Mounted Jammer Systems Portable Backpack Jammer Systems Anti-Jammin
Slide 22: Production and Testing Infrastructure
Production and Testing Infrastructure Cleanroom Facility Electronic Manufacturing Electronic Assembly Electromagnetic Interference Sealing/Sprinkling 22/45
Slide 23: References
References Presidency of Republic of Ministry of National TAF SSB General Coast Guard Turkiye Defence Command of the Gendarmerie Pakistan Air Force Republic of Korea Burkina Faso Armed Forces Malaysian Army Nigerian Army Libyan National Army Tanzanian Armed Forces 23/45
Slide 24: Sustainability Activities
Sustainability Activities —SDT UZAY & SAVUNMA TEKNOLOVILERI
Slide 25: Technological Solutions for Sustainability (1/2)
Technological Solutions for Sustainability (1/2) 2023 2024 October January February March May Initiation of Conducted Establishment of the Launch of the “Sustainability Sustainability Stakeholder Surveys Sustainability Sustainability Defending Consultancy with to identify priority Committee and Road
Slide 26: Technological Solutions for Sustainability (2/2)
Technological Solutions for Sustainability (2/2) Objectives Highlights • LEED Certification for HAB • Installation of Rooftop Solar Power Panels • Comprehensive Carbon Footprint Assessment Environmental • Reduction of Single-Use Plastics • Effective Water and Waste Management Practices • Deployment
Slide 27: Financial Information
Financial Information —SDT UZAY & SAVUNMA TEKNOLOVILERI
Slide 28: 1H2024 Financial Indicators - Income Statement
1H2024 Financial Indicators - Income Statement (Million) TL 2023 2022 % Change 1H2024 1H2023 % Change Net Sales 1.422 914 56% 764 406 88% Cost of Goods Sold 828 543 53% 584 284 105% (COGS) Gross Profit 594 371 60% 180 121 49% Gross Profit Margin 42% 41% 24% 30% (%) Operating Expenses 192 132 46% 115
Slide 29: Financial Performance - Income Statement (1/3)
Financial Performance - Income Statement (1/3) Net Sales, EBITDA, and Net Profit Performance in Million (TL) 1.500 1.422 1.300 56% 1.100 914 900 2021 764 2022 106% 700 2023 88% 1Y2023 500 443 444 1Y2024 406 59% 402 280 300 86% 67% 151 87 115 113 52 78 100 -100 Net Sales Net Satışlar EBITDA FAVÖK Net
Slide 30: Financial Performance - Income Statement (2/3)
Financial Performance - Income Statement (2/3) Quarterly Net Sales (TL Million) 1.600 1.422 1.400 1.200 1.000 806 914 800 764 451 600 443 516 336 406 400 184 202 241 200 121 161 202 248 102 119 165 0 36 59 2021 2022 2023 1H2023 1H2024 1Q 2Q 3Q 4Q *The figures for 2023 and 1H2023 are adjusted to refl
Slide 31: Financial Performance - Income Statement (3/3)
Financial Performance - Income Statement (3/3) R&D Activities (in Million TL) 1.500 10% 1.422 9% 1.300 8% 1.100 7% 913 900 6% 764 700 5% 4% 500 443 2,71% 3% 300 1,75% 1,44% 2% 1,41% 100 12 16 20 11 1% 2021 2022 2023 1Y2024 -100 0% Net Sales R&D Spending 31/45
Slide 32: Domestic and International Sales
Domestic and International Sales Domestic and International Sales (in Million TL) 1.600 1.422 1.400 1.200 561 39% 1.000 914 135 800 15% 764 265 600 35% 443 10 406 862 400 2% 779 127 61% 85% 31% 499 200 433 65% 98% 279 69% 0 2021 2022 2023 1Y2023 1Y2024 Domestic International 32/45
Slide 33: 1H2024 Backlog
1H2024 Backlog Backlog (in Million $) 150 Aging of Backlog 2027 2028 2% 1% 2026 100 13% 2024 120 109 45% 50 106 95 2025 39% 0 2023-Q3 2023-Q4 2024-Q1 2024-Q2 Backlog Bakiye Sipariş * In the first half of 2024, new orders totaling $15.8 million were successfully acquired. 33/45
Slide 34: Financial Indicators - Balance Sheet
Financial Indicators - Balance Sheet Equity Development (in Million TL) Asset Size (in Million TL) 2.759 1.716 2.580 1.571 780 1.164 209 376 2021 2022 2023 1Y2024 2021 2022 2023 1Y2024 Özkaynak Gelişim Equity Development AssetBüyüklük Aktif Size 2022 2023 1H2023 1H2024 Liquidity Current Ratio 3,29x
Slide 35: 1H2024 Financial Indicators - Cash Flow
1H2024 Financial Indicators - Cash Flow Operations Investment Financing Impact of Inflation 1H2024 35/45
Slide 36: SDT Credit Rating
SDT Credit Rating SDT Credit Rating Rating Agency Metrics JCR Eurasia Rating Corporation Long-Term National Corporate Credit Rating AA+ (tr) / (Stable Outlook) Short-Term National Corporate Credit Rating J1+ (tr) / (Stable Outlook) Long-Term International Foreign Currency BB /(Stable Outlook) Corpor
Slide 37: Strategy and Objectives
=) Strategy and Objectives UZAY & SAVUNMA TEKNOLOVILERI
Slide 38: Key Strategic Priorities (1/4)
Key Strategic Priorities (1/4) 1 2 3 Driving Value Through Promoting Upholding Financial Growth Sustainability Discipline 38/45
Slide 39: Key Strategic Priorities (2/4)
Key Strategic Priorities (2/4) 1 DRIVING VALUE THROUGH GROWTH Organic and Inorganic Growth Enhancing Production Capacity Design and Production of Ammunition Electronics Dual Use in Value-Added Sectors Export Initiatives: Pakistan (Country Office) Malaysia (Country Office) Azerbaijan Indone
Slide 40: Key Strategic Priorities (3/4)
Key Strategic Priorities (3/4) 2 PROMOTING SUSTAINABILITY Operational Sustainability Governance and Social Sustainability Effective Organizational Structure Robust R&D and Diverse Product Focus: Skilled Workforce and Employee Satisfaction Satellite and Space Systems High Female Labor Force
Slide 41: Key Strategic Priorities (4/4)
Key Strategic Priorities (4/4) 3 UPHOLDING FINANCIAL DISCIPLINE Strong Revenue and Balance Sheet Structure Budget Discipline Positive Operational Cash Flow and Effective Cash Management Controlled Borrowing Practices Profitability Targets and Monitoring Robust Working Capital Rapid Sto
Slide 42: HAB Campus Investment Timeline
HAB Campus Investment Timeline Land Allocation: 30,000 Building License Issued Start of Construction Move to HAB m² (August 2020) (September 2022) for 16,000 m² Closed (December Area (October 2023) 2025) Rough Construction Progress: 55% (September 2024) Investment Incentive Certificate (July 2022) B
Slide 43: HAB Campus
— HAB Campus UZAY & SAVUNMA TEKNOLOVILERI
Slide 44: Targets
Targets 2024 2025 Net Sales (Million TL) 1,700 2,500 EBITDA Margin (%) 20 25 Export to Turnover Ratio (%) 35 40 Dividend as a Percentage of ≥ 35 ≥ 35 Distributable Profit Total Number of Personnel 270 290 Turnover per Capita (Thousand $) 150 160 Percentage of Female Personnel (%) 30 32 Rough Constru
Slide 45: Question & Answer
=) Question & Answer UZAY & SAVUNMA TEKNOLOVILERI
Slide 46: Annexes
Annexes UZAY & SAVUNMA TEKNOLOVILERI
Slide 47: Balance Sheet
Balance Sheet Resources (Million TL) 31.12.2023 30.06.2024 Assets (Million TL) 31.12.2023 30.06.2024 Short-Term Borrowings 0 0 Cash and Cash Equivalents 313 422 Current Portion of Long-Term Borrowings 14 156 Financial Investments 475 147 Trade Payables 184 78 Trade Receivables 610 523 Employee Benef
Slide 48: Income Statement
Income Statement Income Statement (TL Million) 31.12.2023 30.06.2024 Revenue 1.422 764 Cost of Sales (-) (828) (584) Gross Profit/(Loss) 594 180 General Administrative Expenses (-) (135) (79) Marketing Expenses (-) (37) (25) Research and Development Expenses (-) (20) (11) Other Operating Income 47 1
Slide 49: Disclaimer
Disclaimer This presentation contains information about SDT UZAY & SAVUNMA TEKNOLOJLARI A.Ş. (“SDT” or the “Company”), along with an analysis of its financial statements and management’s forward-looking statements, which reflect the Company’s expectations based on anticipated future events. While th
Slide 50: Üniversiteler Mahallesi İhsan Doğramacı Bulvarı No:37/1 Çankaya -ANKARA
Üniversiteler Mahallesi İhsan Tel: (312) 210 10 15 – Pbx Doğramacı Bulvarı No:37/1 Fax: (312) 210 11 21 Çankaya -ANKARA info@sdt.com.tr sdt.com.tr © SDT Uzay ve Savunma Teknolojileri A.Ş. Tüm Hakları Saklıdır. This document and all information contained herein are the sole property of SDT. No intell
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