Oyak Cimento Fabrikalari A.s. · BIST:OYAKC
Oyak Cimento Fabrikalari A.s — OYAK Çimento Fabrikaları A.Ş. — Q3 2025 Earnings Presentation
33 slides from Oyak Cimento Fabrikalari A.s's earnings presentation, 2025
Slide 1: 3Q Financial Results
£30 e25 = e FINANCIAL RESULTS btcc GROUP HOLDINGS
Slide 2: Key Messages & Financial Highlights
01 Key Messages & Financial Highlights
Slide 3: Key Messages & Financial Highlights · 9M25 vs 9M24
01 Key Messages & Financial Highlights · 9M25 vs 9M24 • Revenues increased by 16% compared to the Net Sales (3Q25) (vs 2Q25) (vs 3Q24) Net Sales (9M25) 2Q25 due to volume growth and limited price (vs 9M24) 40,528 m ₺ (831 m €) increases, while remaining flat compared to 15,402 m ₺ (292 m €) +16% +1%
Slide 4: Key Developments of the Period
01 Key Developments of the Period • JCR Avrasya Rating’s announcement; • Long-Term National Institution Credit Rating: AAA / Stable, • Long-Term International Foreign/Local Currency Institution Credit Ratings: BBB- / Stable, • Short-Term National Institution Credit : J1+ / Stable • TCC Group Holding
Slide 5: Sustainability targets drive long-term value
01 Sustainability targets drive long-term value The first cement company in Türkiye to make a “Net Zero” commitment Alternative Fuel Usage 58% 24.5% 28.6% 17.4% Operational efficiency 6.4% 2016 2020 2024 2025 3Q 2030 Readiness to regulatory changes Sustainability - Waste Heat Recover (WHR) investmen
Slide 6: Peer Analysis · Performance in 3Q25
01 Peer Analysis · Performance in 3Q25 +1% +42% -11% Sales Revenue OYAKC Competitor 1 Competitor 2 -6% -9% -33% EBITDA OYAKC Competitor 1 Competitor 2 -2.2 pp -11.9 pp -5.6 pp EBITDA Margin (%) 3Q24 6 Source: KAP, Public disclosures 3Q25 OYAKC Competitor 1 Competitor 2
Slide 7: Peer Analysis · Performance in 9M25
01 Peer Analysis · Performance in 9M25 -3% +34% -18% Sales Revenue OYAKC Competitor 1 Competitor 2 -15% 5% -48% EBITDA OYAKC Competitor 1 Competitor 2 -3.9 pp -5.2 pp -6.3 pp EBITDA Margin (%) 9M24 7 Source: KAP, Public disclosures 9M25 OYAKC Competitor 1 Competitor 2
Slide 8: Cement Sector
02 Cement Sector
Slide 9: Turkish Cement Market
02 Turkish Cement Market Black Sea Türkiye Clinker Prod. Cap. 10.7 m ton Clinker # of # of # of Integrated P. 8 Prod. Cap. Integrated P. Grinding P. # of Grinding P. 5 Marmara 99.7 56 19 Clinker Prod. Cap. 23.3 m ton m ton # of Integrated P. 11 # of Grinding P. 2 Clinker Capacity Group (m ton/year)
Slide 10: Turkish Cement Sector · 8M25, 8M24 and 8M23
02 Turkish Cement Sector · 8M25, 8M24 and 8M23 Cement Production (m ton) Export (m ton) 2023 – 2024 2023 – 2024 59.6 51.8 55.9 +8% 15.7 -4% 13.4 12.9 2024 –2025 2024 –2025 +7% 11.0 9.4 10.6 +22% Cement 3.5 5.0 2.4 Clinker 8M23 8M24 8M25 8M23 8M24 8M25 Domestic Cement Consumption (m ton) Clinker Stoc
Slide 11: Turkish Cement Sector · 8M25 vs 8M24
02 Turkish Cement Sector · 8M25 vs 8M24 Domestic Cement Consumption (change %) Türkiye +5.1% +1.8% -8.8% +20.2% +6.6% -10.7% +14.2% +15.3% OYAK Cement Plants (integrated) Source: TCMB 11
Slide 12: Turkish Cement Sector · 9M25 vs 9M24
02 Turkish Cement Sector · 9M25 vs 9M24 Cement Exports (‘000 ton) Clinker Exports (‘000 ton) 9M24 9M25 9M24 9M25 +14% +38% 12.040 10.579 5.441 3.935 5.882 5.197 622 757 720 849 872 513 392 410 534 413 479 393 588 193 281 263 348 65 USA Syria Italy Bulgaria Albania Total Italy Ghana Spain Romania Fra
Slide 13: OYAK Cement · Türkiye
02 OYAK Cement · Türkiye Cement Capacity Zonguldak İstanbul 24 m ton 5 1 3 Kocaeli 5 1 1 Bolu 3 Ordu Trabzon 1 3 Rize 1 1 1 1 Ankara Concrete Capacity 1 14.5 m m 3 8 2 1 Aggregates Capacity 4 7.8 m ton Denizli 2 2 1 1 1 1 1 1 2 4 Mardin 1 1 7 2 Gaziantep Hatay Adana 1 Entegre Çimento Fabrikası 1 0#
Slide 14: Export Distribution Channels of OYAK Çimento
02 Export Distribution Channels of OYAK Çimento United Kingdom – Terminal at Port Bristol Romania – Terminal at Port Mangalia France – Terminal at Port la Rouen Türkiye – Ünye Port France – Terminal at Port la Nouvelle Türkiye – Aslan Port Portugal – Terminal at Port Viana Do Castelo TRNC – Terminal
Slide 15: Financial Results
03 Financial Results
Slide 16: Financial Results · Volume increase continued despite stable prices in 3Q25
03 Financial Results · Volume increase continued despite stable prices in 3Q25 SALES REVENUE (m TL) EBITDA (m TL) NET INCOME (m TL) 32.8% 29.5% 26.6% 22.6% 30.6% 18.2% 13.4% 9.6% 20.7% 22.0% 15,257 15,402 14,012 +1% -6% +22% 13,325 11,800 YoY YoY YoY 5,005 4,717 16% 4,133 57% 23% QoQ 3,137 3,008 QoQ
Slide 17: Financial Results · 9M25 vs 9M24
03 Financial Results · 9M25 vs 9M24 SALES REVENUE (m TL) EBITDA (m TL) NET INCOME (m TL) -3% -15% +2% YoY 31% 27% 17% 18% YoY YoY 41,717 40,528 12,824 10,861 7,107 7,282 9M24 9M25 9M24 9M25 9M24 9M25 EBITDA and Net Income Margin (%) 17 IAS-29 applied financials
Slide 18: Net Working Capital (NWC) · Sustainable level with highest collateralization
03 Net Working Capital (NWC) · Sustainable level with highest collateralization NWC as a % of 21% 19% 16% 16% 21% 21% Sales Revenue (LTM) NWC (m TL) 10,575 8,703 9,483 8,154 7,864 9,226 8,095 6,600 7,584 7,315 8,052 6,139 7,410 8,042 8,186 7,868 6,811 5,068 -5,308 -4,937 -6,033 -6,069-4,868 -5,612 -
Slide 19: Net Cash (Debt) Development · Solid balance sheet for future investments
03 Net Cash (Debt) Development · Solid balance sheet for future investments Net Cash (Debt) m TL Net Cash (Debt) / EBITDA (LTM) -2,298 1,733 7,688 10,473 10,849 12,180 0.82 0.65 0.62 0.47 6,224 13,926 7,968 9,598 5,777 0.14 5,629 1,794 2,604 2,072 793 1,190 971 -85 -21 -77 -892 -2,564 -35 -2,534 202
Slide 20: Free Cash Flow
03 Free Cash Flow m TL 10,861 -2,380 -1,565 FCF/ EBITDA 9M25 19% -4,813 2,103 EBITDA NWC Change Tax Payments CAPEX Free Cash Flow m TL 12,824 -2,922 FCF/ EBITDA -885 9M24 4,716 37% -4,301 EBITDA NWC Change Tax Payments CAPEX Free Cash Flow 20 IAS-29 applied financials
Slide 21: Q&A
Q&A
Slide 22: Appendix
04 Appendix
Slide 23: TCC Group Holdings (TCC) · Building a Green Future
04 TCC Group Holdings (TCC) · Building a Green Future TCC Global Operations TCC at a Glance 1,010 MWh Energy Storage Capacity • Founded on May 1, 1946. • Reorganized as TCC on January 1, 1951. Italy France Spain Australia US • Privatized in 1954 and management was taken over by the Koo family. 857k
Slide 24: TCC · Global Footprint
04 TCC · Global Footprint Taiwan China Cement Capacity Clinker Capacity United Kingdom 77 m ton 65,8 m ton Netherlands France Portugal Cement Capacity Clinker Capacity Romania 35 m ton 18,0 m ton Türkiye TRNC Integrated Grinding Calcined Facility Facility Clay Facility 10 7 3 Cape RMC Aggregates Pap
Slide 25: Key Investment Highlights
04 Key Investment Highlights ✓ Market leader in Türkiye Operates in 3 countries, 7 regions in Türkiye with 24 m tons installed cement capacity & 12.6 m tons clinker capacity ✓ One of the leading white cement producer 1 m tons of white clinker capacity ✓ Wide product portfolio for building material s
Slide 26: Cement Product Portfolio
04 Cement Product Portfolio NEW 26
Slide 27: OYAK Concrete · The Brand Name of Big Ticket Projects in Türkiye
04 OYAK Concrete · The Brand Name of Big Ticket Projects in Türkiye OYAK Concrete, the main field of activity of which is production and sales of ready-mix concrete, also intended to produce the aggregate, which has outpaced the cement in some plants and taken the first place among the concrete prod
Slide 28: Income Statement
04 Income Statement * EBITDA : Operating profit / (loss) + Amortization and depreciation 28 IAS-29 applied financials
Slide 29: Balance Sheet
04 Balance Sheet 29 IAS-29 applied financials
Slide 30: Cash Flow
04 Cash Flow 30 IAS-29 applied financials
Slide 31: Financial Results · Quarterly Managerial Revenue and EBITDA Development
04 Financial Results · Quarterly Managerial Revenue and EBITDA Development Quarterly Revenue (m TL) L12M* Revenue (m TL) 48,436 44,546 41,509 39,289 36,102 32,012 28,257 15,049 11,159 11,035 10,118 12,233 7,898 9,196 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 Quarterly EBI
Slide 32: Disclaimer · Forward-looking Statements
Disclaimer · Forward-looking Statements This presentation (Presentation) has been prepared by OYAK Çimento Fabrikaları A.Ş. for the sole purpose of providing information relating to OYAK Çimento Fabrikaları A.Ş. This Presentation is based on public information and data provided by OYAK Çimento Fabri
Slide 33: Contact Information
Contact Information Ali Onur AYGÜN Country Director – Financial Affairs Sena ATAY Investor Relations Manager OYAK Cement Contact Information : iletisim@oyakcimento.com investor.relations@oyakcement.com +90 312 220 01 12
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