Turk Traktor Ve Ziraat Makineleri A.s. · BIST:TTRAK

Turk Traktor Ve Ziraat Makineleri A.s — FY2023 Earnings Presentation

31 slides from Turk Traktor Ve Ziraat Makineleri A.s's earnings presentation, Feb 23, 2024

  1. Slide 1: Analyst Meeting Presentation

    rkTraktir ANALYST MEETING PRESENTATION 23.02.2024 Tii GAKoe TiirkTraktér7... cN4

  2. Slide 2: Disclaimer

    DISCLAIMER With the Capital Markets Board of Turkey’s Bulletin dated 28.12.2023 numbered 2023/81, CMB announced that issuers and capital market institutions shall prepare their annual financial statements ending on 31.12.2023 or later, in accordance with IAS 29 inflationary accounting provisions. Ac

  3. Slide 3: Agenda

    AGENDA 6% LOCAL MARKET SECTOR DYNAMICS 6% GLOBAL TRACTOR MARKET 6S BUSINESS RESULTS Q) Tractor Q Agricultural and Construction Equipment QO) 2024 Expectations Ov FINANCIAL RESULTS Oke APPENDIX @AKog TiirkTraktir7©... CNH

  4. Slide 4: Local Market Sector Dynamics

    LOCAL MARKET SECTOR DYNAMICS 4 Agricultural Sector & Rainfall Input Costs & Support Consumer Agricultural Production Trend Product Prices Programs Financing — @AKog TiirkTraktér7©.... cM

  5. Slide 5: Koç Türk Traktör CNH

    Koc TiirkTraktor c CNH

  6. Slide 6: Turkish Agriculture Sector

    TURKISH AGRICULTURE SECTOR y Turkey’s Turkey’s Share in 0) Share in 6% agricultural 1 0. agricultural = GDP 3 0 the a 4, 0 economy in (2022 numbers) economy in (2022 numbers) (2023 30 numbers) employment (2023 4Q numbers) the World Europe (12month average) ___ Agricultural Production 2022-2023 (mito

  7. Slide 7: Rainfall by region

    7 573,4 550,9 540,4 Difference (%) Normal Oct 21 - Sep 22 Oct 22 - Sep 23 Marmara Aegean Mediterranean Central Anatolia Black Sea Eastern Anatolia Southeastern Anatolia -23% 3% -19% 4% -1% 10% 23%

  8. Slide 8: Agricultural PPI and IPI

    8 Agricultural PPI Agricultural IPI 180% 160% 140% 120% 100% 80% 52,7% 60% 40% 20% 38,8% 0%

  9. Slide 9: Agricultural Support Programs in Turkey

    AGRICULTURAL SUPPORT PROGRAMS IN TURKEY ? TiirkTraktir7©...

  10. Slide 10: Agricultural Support Programs in Turkey

    AGRICULTURAL SUPPORT PROGRAMS IN TURKEY y Agricultural Subsidy Payments (eittion 11) Agricultural Investment Supports (ition) ee ——— as — a increase 499g 63.4 x i 219 23.0 25.1 12.1 5.1 5.1 — 2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024 Budget Budget + Within the scope of agricultural

  11. Slide 11: Consumer Finance

    CONSUMER FINANCE 2s, § 2 s = =

  12. Slide 12: Consumer Finance

    CONSUMER FINANCE y Interest Rates * Ziraat Bank is in a competitive position with a post-subsidy 4 % Ziraat Bankasi interest rate of 25.2%. 50.4% 25.2% Ziraat Bank loan usage was 69.0% as of 2023. 4 14.6% 13.6% 12.6% 11.2% 10.0% Financing Distribution of TiirkTraktor's Sales Dec 21 Aug22 Sep22 Oct22

  13. Slide 13: Global Tractor Market and Export

    GLOBAL TRACTOR MARKET AND EXPORT a \ —— ae) i y A os [ Ca A ~ a a) — y ———s TiirkTraktir7©...

  14. Slide 14: Global Tractor Market

    GLOBAL TRACTOR MARKET , Total Global Market (thousand unit) 2023 fos} aie) | aie ein) Forecast Important Export reas 535 | 620 551 511 WF North America 316 351 302 282 I Europe 148 172 157 153 Other 71 97 92 76 © India 807 904 912 919 @ china 205 224 281 220 WE Turkey 48 64 67 78 © Brazil 45 53 52 4

  15. Slide 15: Tractor Export from Turkey

    “&-Tractor Export from Turkey* (unit 20.479 ‘Source: Tarmakbir Total =m TiirkTraktor 20,148 20,511 | 76 7,095 2021 2022 2023 aa 6,016 2,050 fe TE 638 1,903 o_o ,991 “8: TiirkTraktor’s Export (unit) aki decrease 16,176 17005 16,016 gee decrease 1 m= 1,551 i = 2021 2022 2023 2023/1 2024/1 » TiirkTrakt

  16. Slide 16: Production

    PRODUCTION 4 GAKog TiirkTraktér7.... CNH

  17. Slide 17: Tractor Production in Turkey & TürkTraktör

    TRACTOR PRODUCTION IN TURKEY & TURKTRAKTOR Oe Tractor Production of Turkey* (unit) Oke TiirkTraktér’s Production (unit) ———s SS Oooo mA Total =m TiirkTraktr 15% i aS 82,343 ar 48,560 44, a 48,560 51,423 44,619 alte decrease 7,273 273 4,281 281 6,278 TB 4,024 024 aes 281 a, 024 2021 2022 2023 ye ” A)

  18. Slide 18: Market Position

    18 Market Market 2022 2023 Position Position New Holland 22,754 1. 27,124 1. Case IH 5,421 3. 7,435 2.

  19. Slide 19: Tractor Sales of TürkTraktör

    TRACTOR SALES OF TURKTRAKTOR 9 6% Tractor Sales of TiirkTraktor (unit MSlmport mLocal = Export 34,984 > Locally produced tractor sales increased by 30% in 2023. Import tractor sales increased by 68% in 2023. In 2023, export tractor sales decreased by 6% comparing to 2022. 3 30711638 47 1,9581,551 20

  20. Slide 20: Construction Equipment

    CONSTRUCTION EQUIPMENT 9 SSe. Construction Equipment Sales (unit) mLocal = Import © Total 20% increase Cn) > 424 323 288 731 307 Construction equipment sales volumes and revenue increased by 20% and 41% respectively compared to 2022. 557 299 258 2021 2022 2023 CASE > * TiirkTrakt6r, which stepped in

  21. Slide 21: Agricultural Equipment

    AGRICULTURAL EQUIPMENT i Combine Sales (unit) 22% decrease 542 502 aap In 2023, non-tractor revenue (equipment, CE, spare part, 392 driveline) increased by 23% compared to 2022 and its share in total revenue realized as 17%. 2021 2022 2023 Ww, Wy NEW HOLLAND * Agricultural equipment covers a wide ra

  22. Slide 22: 2024 Expectations

    2024 EXPECTATIONS ¥ Tractor Market > Turkish Tractor Industry Volume: 60,000 — 68,000 unit > Local Tractor Sales*: 31,000 — 35,000 unit ie ee > Tractor Exports: 14,000 — 15,500 unit TuirkTraktOr > carex: 80-90 milion *Sales to the dealers included imported tractors GAKoe TiirkTraktér7... cN4

  23. Slide 23: Financial Results

    GAkog FINANCIAL RESULTS yo YY vow ev TiirkTraktir7©... CNH

  24. Slide 24: 2023 Highlights

    TL 58.4 B Revenues, +41% YoY * Total tractor revenue +46% * All-time record tractor sales * Non-tractor revenue +23%, representing 17% of total revenue 2023 HIGHLIGHTS TL 15.6 B Gross Profit, 26.7% +142% YoY * Positive effect from pricing + Favorable product mix * 11.1 pp higher than 2022 24 TL 10.8

  25. Slide 25: Income Statement

    GA Kos (million TL) - Domestic Sales - Export Sales Total Sales Revenue Gross Profit Margin Net Operating Income Margin Profit Before Tax Margin Net Income Margin EBITDA Margin INCOME STATEMENT 2022 27,935 13,462 41,397 6,449 15.6% 3,973 9.6% 4,554 11.0% 4,310 10.4% 4,914 11.9% TiirkTraktir7©... 202

  26. Slide 26: Working capital turnover days

    26 **Turnover days calculated based on year end figures.

  27. Slide 27: Net Financial Position

    NET FINANCIAL POSITION (nition 11) = Net Financial Position —NFP / EBITDA 1,560 2022 2023 TiirkTraktir7©... 27 CNH

  28. Slide 28: Appendix

    APPENDIX £44 444444 TiirkTraktir7©... CNH

  29. Slide 29: Without IAS 29 inflationary accounting standards

    29 *Without IAS 29 inflationary accounting standards

  30. Slide 30: Without IAS 29 inflationary accounting standards

    30 *Without IAS 29 inflationary accounting standards

  31. Slide 31: Investor Relations Contact

    INVESTOR RELATIONS CONTACT a Sila AKGAY Merig ONARGAN Investor Relations and Sustainability Team Leader Investor Relations Leader Specialist +90 312 2332502 @ +90 312 2332504 Sila. Akcay@turktraktor.com.tr Meric.Onargan@turktraktor.com.tr investorrelations@turktraktor.com.tr @AKog TiirkTraktér7©...

Türk Traktör ve Ziraat Makineleri A.Ş. — FY2023 Earnings Presentation on 6ix