Cimsa Cimento Sanayi Ve Ticaret A.s. · BIST:CIMSA
Cimsa Cimento Sanayi Ve Ticaret A.s — Investor Presentation (December 2023)
32 slides from Cimsa Cimento Sanayi Ve Ticaret A.s's investor presentation, December 2023
Slide 1: Diversified Building Materials Player
ÇİMSA Diversified Building Materials Player Investor Presentation December 2023
Slide 2: Disclaimer
Disclaimer The information and opinions contained in this document have been compiled by Çimsa Çimento Sanayi ve Ticaret A.Ş. (“CIMSA”) from sources believed to be reliable and in good faith, but no representation or warranty, expressed or implied, is made as to their accuracy, completeness or corre
Slide 3: Diversified Global Footprint in Building Materials Industry
Diversified Global Footprint in Building Materials Industry White Clinker White Clinker 1.7 mt Grinding : 0.3 mt 0.6 mt Grey Clinker 3.6 mt CAC 0.1 mt Production Plants Port Access – R&D Center Grinding Facility International Assets Export Opportunity
Slide 4: Leading Global Positions in Lucrative Segments
Leading Global Positions in Lucrative Segments ✓A strong player with a balanced and diversified 2nd Largest product portfolio, special focus on high Player in profitable white cement and calcium White alimunated cement Cement ✓Strong local and global sales network with strategically located terminal
Slide 5: Transforming to Global Building Materials Player
✓ Strategic partnership with Sabancı Holding – Transforming to Global Building Materials Player Establishment of Sabancı Building Solutions B.V. – 2020 ✓ Acquisiton of Bunol Plant to strengthen leading position in Global White Cement Market -2021 ✓ Asset Optimisation in Domestic Market – 2020 - Dive
Slide 6: Creating Value Through Portfolio Optimization
Creating Value Through Portfolio Optimization Strong & Profitable Core in Grey • Optimised grey operations through asset sales • Target excellence and efficiency for sustainable competitive advantage - Increasing alternative fuel & Focus on sustainability investments • Improve export capability in o
Slide 7: Expanded Global Footprint and Grew Market Share
Expanded Global Footprint And Grew Market Share With Cimsa Americas Investment & Bunol Plant Acquisition Germany [Hamburg] Spain [Bunol] White Clinker Italy [Trieste] 0.6 mt United States Turkey [Houston] Spain [Sevilla] [Eskisehir & Mersin] Grinding : 0.3 mt White Clinker 1.7mt 7 STRATEGIC TERMINAL
Slide 8: World's Second Largest White Cement Player With Sales in More Than 70 Countries
The World’s Second Largest White Cement Player With Sales More Than 70 Countries SPAIN GREECE MOROCCO TURKEY GERMANY NETHERLANDS ITALY USA 78% of Total Sales Realised in 10 Countries BRAZIL 8
Slide 9: High Profitable Value Added Product: Calcium Aluminates
High Profitable –Value Added Product: Calcium Aluminates • Contributes to CO2 net zero targets via good CO2 emission per strength • Lower limestone consumption Environment • Ensures efficiency and longevity • Profitable and niche product in construction Strategy chemicals market • Higher stability &
Slide 10: Flycrete: Ready to Fly Concrete
cim@® Not just ready-mixed concrete, “Ready to fly concrete” Runways ready for landing in 3 hours with Flyerete by Cimsa 25 MPa strength in 3 hours High abrasion resistance. Flycrete offers an excellent solution for airport runways and industrial floors, providing speed and durability. FLYCRETE READ
Slide 11: Sustainable Solutions and Innovative Technologies for Building Materials
Sustainable Solutions and Innovative Technologies for Building Materials Sabancı Global Technology Center GMBH is established in Technical University of Munich Campus. - R&D activities with customers and Universities - High customer satisfaction - Increasing synergy with the R&D center located in Tu
Slide 12: Dedicated Sustainability Strategy
Dedicated Sustainability Strategy Contributing to low-carbon economy transition 29,6% through strong R&D, innovation and technological Reduction in Net Specific CO2 Emissions transformation. ----------------------------------------------- 40% Alternative Fuel Usage Pioneering development of sustaina
Slide 13: ESG Pioneer in Cement and Building Materials Industry
ESG Pioneer in Cement and Building Materials Industry Obtaining IREC The First Cement Certificate for 351.000 The Environmental Product Company in MWh electrical energy and Declaration Certificate BIST 25 Sustainability Index. certification of Mersin WHR for 3 Products. facility production in 2023 E
Slide 14: Robust Financial Performance in 2023
Robust Financial Performancein 2023 NET SALES (bn TL) EBITDA (bn TL) NET INCOME (bn TL)* 54% -2% 20,8 20,5 104% 72% 37% 16,6 3,4 3,7 105% 7,6 7,0 3,0 3,1 10,8 7,0 2,1 2,2 4,6 1,7 1,5 9,6 13,2 13,5 6,1 2022 * 2023 * 2022_** 2023_ ** 2022 * 2023 * 2022_** 2023_ ** 2022 * 2023 * 2022_** 2023_** IAS29 I
Slide 15: Effective Cash Management and Strong Balance Sheet
Effective Cash Management and Strong Balance Sheet Net 0,5X 4,0 Debt/EBITDA 1,2 3,0 5.000 Inline with IAS29 adjustmets – 2023 prices 0,5 7.929 2.599 1.932 - -2,0 2021 2022 2023 NWC/SALES* 16% 13 month average NWC/ LTM Sales 3.224 2.069 2.007 Inline with IAS29 adjustmets – 2023 prices 2021 2022 2023
Slide 16: APPENDIX: 2023 Q4 Market & Operations
APPENDIX: 2023 Q4 Market & Operations September 2023
Slide 17: Turkish Cement Market
Turkey’s GDP growth realized 4,5% growth in 2023. 11,1% 11,4% 9,0% 8,5% 8,5% 7,1% 7,5% 6,1% 5,5% 5,0% 4,8% 5,2% 4,5% 3,2% 3,0% 1,9% 0,9% 0,9% -4,7% GDP Growth Rate % Increase in Turkey domestic cement consumption is recorded 18,2% in 2023. 21,7% 19,4% 18,20% 16,0% 23,20% 11,2% 10,2% 9,9% 9,1% 4,8% 4
Slide 18: Turkish Cement Market
Turkey is the biggest cement producer in Europe, with high capacity utilization rates. Turkey has also 2nd place in World cement export. Cement & Clinker Export (mt) Cement & Clinker Domestic Sales (mt) Cement Production Capacity (mt) 100 100 101 95 97 94 87 84 78 80 75 76 13 73 31 20 69 70 11 14 31
Slide 19: Global White Cement Market
Global white cement demand is forecasted to be around 21 mt in 2021 & 2022 21 21 21 21 20 20 20 20 21 20 19 20 20 19 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 *2022 Northern Russia & America Eastern • Global white cement production capacity 7% Europe Latam 6% reached to 33,9 M
Slide 20: Market Positioning
MARKET POSITIONING ÇİMSA WHITE MARKET Latin POSITIONING America 11% MENA 24% Turkey 11% Northern America 14% Western Eastern Europe Europe 28% 12% Çimsa’s market share in global white cement market improved Çimsa’s white cement sales network expands to from 5,3% to 7,2% in last decade. over 70 count
Slide 21: Çimsa Grey: Integrated Plants in Mersin, Eskişehir, Afyon
3 INTEGRATED PLANTS IN MERSİN, ESKİŞEHİR, AFYON ÇİMSA GREY SOLID NETWORK ESKİŞEHİR AFYON MERSİN 3.6 Mt GREY 1.7 Mt WHITE 0.1 Mt CAC Clinker Capacity Clinker Capacity Clinker Capacity
Slide 22: Special Products
SPECIAL PRODUCTS CalciumAlimunateCement CAC Sales (Kton) CAC Sales (KUSD) 19.476 15.209 13.910 61 12.114 51 54 10.525 9.974 41 34 35 2018 2019 2020 2021 2022 2023 2018 2019 2020 2021 2022 2023
Slide 23: Operational Results
OPERATIONAL RESULTS* White Cement & Clinker Sales Volumes (M ton) Grey Cement & Clinker Sales Volumes (M ton) Domestic sales Export sales Domestic sales Export sales 1,39 1,39 1,50 1,72 1,68 1,52 4,90 4,70 5,60 5,78 5,07 4,64 1,50 1,47 1,29 1,31 4,30 4,22 1,20 3,90 1,13 3,80 3,54 3,00 1,70 1,70 1,56
Slide 24: Operational Results - Quarterly
OPERATIONAL RESULTS* - Quarterly Grey Cement & Clinker Sales Volumes (K ton) White Cement & Clinker Sales Volumes (K ton) Domestic Export Domestic Export 1.088 1.307 361 380 936 843 371 306 327 245 54 53 Q4'22 Q4'23 Q4'22 Q4'23 24
Slide 25: Çimsa Grey Clinker Variable Cost Structure
ÇİMSA GREY CLINKER VARIABLE COST STRUCTURE 2022 Q4 2023 Q4 3% 5% 8% 11% 27% 28% 62% 57% Raw Material Fuel Electricity Other Raw Material Fuel Electricity Other
Slide 26: Balance Sheet
BALANCE SHEET MTL 2023 YE 2022 YE MTL 2023 YE 2022 YE Current Assets 12.086 14.945 Current Liabilities 8.877 10.637 Cash and cash equivalents 6.307 6.912 Borrowings* 3.608 5.347 Trade receivables 2.345 2.772 Trade payables 3.199 3.559 Other receivables 22 11 Derivative financial liabilities 17 0 Der
Slide 27: Income Statement
INCOME STATEMENT 2023 YE Income Statement (MTL) 2023 2022 Sales 20.505 20.820 Cost of sales (-) -16.475 -18.440 GROSS PROFIT 4.029 2.381 General and administrative expense (-) -1.414 -1.237 Marketing, selling and distribution expense (-) -75 -32 Research and development expense (-) -19 -20 Other ope
Slide 28: Cash Flow
CASH FLOW MTL 2023 YE 2022 YE A. CASH FLOWS FROM OPERATING ACTIVITIES 903 269 Profit before taxation 2.937 3.495 Adjus tments to r ec onc ile net pr ofit/los s for the per iod (1.456) (4.030) C hanges in wor king c apital (200) 1.094 C as h flows fr om oper ations 1.281 559 Payments related to emplo
Slide 29: APPENDIX: Sustainability
APPENDIX: SUSTAINABILITY December 2023
Slide 30: Overview of Çimsa's Sustainability Roadmap & Targets
OVERVIEW OF ÇİMSA’S SUSTAINABILITY ROADMAP & TARGETS The main targets included in Çimsa's agenda within the scope of Sabancı Holding's sustainability roadmap are given below: Reaching zero work Being Net Zero Reviewing our Developing accident with Emissions and processes with a sustainable internati
Slide 31: Science Based Targets
SCIENCE BASED TARGETS Submission Validation is ongoing • On March 30 2023, a • Goal development and validation processes during Q2-Q4 • Target communication • Annual emission commitment was made to • Time to deliver target after commitment: 24 months studies after SBTi approval reporting set a near-
Slide 32: Thank You
THANK YOU December 2023
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