Yukselen Celik As · BIST:YKSLN
Yukselen Celik As — FY2020 Earnings Presentation
26 slides from Yukselen Celik As's earnings presentation, Feb 27, 2021
Slide 1: Investor Presentation
YUKSELEN \/ W/ hi Investor Presentation 27.02.2021
Slide 2: Steel Sector Sub-Segments
Steel Sector Sub-Segments Steel Niche-market Based on Chemical Composition Value-added Construction Structural Stainless Special Steel Steel Steel Steel Based on Shape & Production Type High growth potential Flat Long Long Product Rolled Forged 12M 2020 Investor Presentation l 27 February 2021l2
Slide 3: Steel Service Center (SSC)
Steel Service Center (SSC) Main Scope of Steel Service Center In line with the specification generated and the production process determined by the company, procurement of rolled or forged steels produced at home or in other countries and applying several transactions; such as cutting, sizing, slitt
Slide 4: Steelmelting Mill & Rolling Mill
Steelmelting Mill & Rolling Mill Steelmelting Mill Produces billets, ingots, blooms or similar liquid steel from ore or scrap Rolling Mill Shaping billets of steelmelting mill through hot or cold rolling 12M 2020 Investor Presentation l 27 February 2021 l4
Slide 5: Steel Service Center Products
Steel Service Center Products 12M 2020 Investor Presentation l 27 February 2021l5
Slide 6: Steel Design & Brand / Patent
Steel Design & Brand / Patent The Company has around 80 products with its own registered trademark and design Metallurgical patents and trademarks are registered by determining the Technical Parameters (Chemical Composition, Shock, Flow, Drawing Standards, Reduction Ratio, Forging Ratio, IHT Paramet
Slide 7: Distributorships
Distributorships Share of Design Products in Revenue %20.0 The share of Distributorship products in total revenues %65.0 %15.0 -- other than the revenues from design products -- 20% Design Products Distributorships Other Commercial Products 12M 2020 Investor Presentation l 27 February 2021l7
Slide 8: Target Sectors
Target Sectors Target Sectors Mold Producers Automotive Supply Industry Machinery Industry Defense Industry Other Manufacturing Ind. 12M 2020 Investor Presentation l 27 February 2021l8
Slide 9: Sector Size & Our Market Share
Sector Size & Our Market Share Developed Turkish Steel Market Mold Steel Market Countries Average 4.2% (2019) 33,700,000 tons (2018) 70,000 tons Total Mold Steel Market Turkey 70K Tons Market Size 0.2% %14 Yükselen Other 0.2% (High) Alloy Steel Market Tool Steel Market 35K Tons Market Size 35K Tons
Slide 10: 66-Year Sector Experience
66-Year Sector Experience 66-year The family-run business, sector experience 1954 started in Perşembe Pazarı strengthened by the new generation Shareholders in charge Acceleration with the participation of the third generation in management Sustainable, high and profitable growth targets 2020
Slide 11: Third Generation (Year 2005 & After)
Third Generation (Year 2005 & After) Operations initiated in the 2005 field of Steel Design Nearly 20 products were developed in 4 years by 2009 making the first patent and trademark applications New & Modern SSC established Ramatex Metal acquired. Accessed new brand designs as 2013 well as new cust
Slide 12: Branch Network
Branch Network Aegean Branch (İzmir) Sales Office (Ümraniye) Export Office (Ataköy) In order to increase its sales capacity and to access new markets, Istanbul Anatolian Side Sales Office Dudullu, Ümraniye was opened in 2016 İzmir Aegean Region Branch in Çiğli was opened in 2017 Ataköy Branch in Ata
Slide 13: Sustainable Growth
Sustainable Growth Annual Revenue (TL M) Annual Revenue (US$ M) 200 35.0 183.7 180 31% CAGR 170.7 18% CAGR 30.0 28.7 (‘04-’20) (‘04-’20) 160 26.0 25.7 24.7 140 25.0 123.7 120 20.0 98.1 17.4 100 15.0 80 60 52.6 10.0 40 5.0 20 1.7 2.4 0 0.0 2004* 2016 2017 2018 2019 2020 2004* 2016 2017 2018 2019 2020
Slide 14: Customer Breakdown
Customer Breakdown Customer Breakdown by Sector Company’s products are sold to 2020 13% Mold Manufacturing Industry 19 Sectors 8% Machinery Sector 29% 44% Other Top-3 sector’s share 8% Automotive Supply Industry 8% Press Manufacturing Well-Distributed 6% 7% Forging Industry Sector and Customer Break
Slide 15: Risk Management
Risk Management Direct Debiting System (DDS) Collection Risk Yükselen Çelik sells goods and services to the Thanks to instruments utilized during the last customer two years; such as "Loan Insurance" and "Direct Debiting System" almost The receivables from the customer are guaranteed No Collection
Slide 16: FX Position
FX Position FX Position (TL M Amount) Assets 26.4 Liabilities 11.6 TL 25.8 M 8.8 Short Position 6.1 As of 12M 2020 1.4 1.4 1.2 0.6 1.1 0.0 2016 2017 2018 2019 2020 (7.7) (11.6) - (4.9) (25.8) (10.5) Net Position 12M 2020 Investor Presentation l 27 February2021 l16
Slide 17: High Credibility & Low Debt
High Credibility & Low Debt Debt Profile as of 2019 (TL M) Bank Loan Limits & Usage (2020) 3.8 TL 284.7 M Allocated Active Loan Limit Loan Usage Rate Loan Amount 13.1 (33,8) (%) (TL M) (16,9) 0.4% TL 4.1 M S.T. L.T. Cash & Cash Net Debt Financial Debt Financial Debt Equivalents Debt Profile as of H1
Slide 18: Net Operational Working Capital
Net Operational Working Capital (TL M) 40.7 68.8 85.2 120.0 147.5 81.4 79.5 20.3 35.4 59.7 2.2 9.5 24.5 0.8 80.4 92.7 1.6 58.0 31.2 40.4 -10.1 -15.2 -6.5 -33.8 -41.7 -44.5 -0.3 -0.5 -0.4 -2.4 2016 2017 2018 2019 2020 Trade Receivables (+) Prepaid Expenses (+) Inventories (+) Trade Payables (-) Defer
Slide 19: Use of IPO Revenue
Use of IPO Revenue 14.11.2019 Dated IPO Revenues = TL 69,174,000 All Through Capital Increase Use of IPO Targets Revenue Two New Products Development Investment Finance & Machinery Purchases 30% Financing Domestic Growing Sales Strengthening Initiation of Export Operations Working Capital 40% Machin
Slide 20: Financials
Financials 12M 2020 Investor Presentation l 27 February 2021 l20
Slide 21: Revenue Development
Revenue Development Annual (TL M) Annual (TL M) 183.7 37% CAGR 170.7 7.6% (‘16-’20) 183.7 170.7 123.7 98.1 52.6 2016 2017 2018 2019 2020 2019 2020 12M 2020 Investor Presentation l 27 February2021 l21
Slide 22: Revenue Breakdown in TL
Revenue Breakdown in TL 2016 2017 2018 A A A %19.3 %20.8 %25.5 C C T C %44.3 %62.7 %16.8 %54.8 T T %24.0 o %29.8 %1.2 O O %0.4 %0.4 2019 2020 A C A Increase in revenue %19.4 %35.6 %18.1 C %40.5 from high value added T O T special steel products; %1.7 %40.0 %44.7 O such as Alloy Steel and Tool Steel
Slide 23: Revenue per Ton Development
Revenue per Ton Development Revenue per Ton – Annual (TL/ton) Revenue per Ton – First Half (TL/ton) 7,497 7,497 39% CAGR 17% y/y (‘16-’20) 6,399 4,952 2,935 6,404 1,981 2016 2017 2018 2019 2020 2019 2020 12M 2020 Investor Presentation l 27 February2021 l23
Slide 24: Balance Sheet Composition
Balance Sheet Composition TL 223.4 M Balance Sheet Size as of 12M 2020 0.5% Cash & Cash Equivalents Trade Payables 19.9% Derivatives 4.5% 41.5% Trade Receivables L.T. Liabilities 2.1% 4.1% Derivatives 36.4% Inventories Equity 68.9% 6.3% Tangible Assets Assets Liabilities & Equity 12M 2020 Investor P
Slide 25: Summary of Financial Statements
Summary of Financial Statements TL M 2016 2017 2018 2019 2020 TL M 12M ’19 12M ’20 Revenues 52.6 98.1 123.7 170.7 183.7 Revenues 170.7 183.7 Gross Profit 9.1 21.0 39.4 33.5 34.0 Gross Profit 33.5 34.0 Operating Profit 1.5 17.8 40.9 27.4 15.8 Operating Profit 27.4 15.8 EBITDA 4.6 16.5 33.0 25.5 25.4
Slide 26: Thank You
Y/YUKSELEN Thank You For further information please e-mail invest@yukselen.com th