Oyak Cimento Fabrikalari A.s. · BIST:OYAKC
Oyak Cimento Fabrikalari A.s — Oyak Çimento Fabrikaları A.Ş. — Q1 2025 Earnings Presentation
31 slides from Oyak Cimento Fabrikalari A.s's earnings presentation, 2025
Slide 1: 1Q Financial Results
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Slide 2: Key Messages & Financial Highlights
01 Key Messages & Financial Highlights
Slide 3: Key Messages & Financial Highlights · 1Q25 vs 1Q24 & 1Q23
01 Key Messages & Financial Highlights · 1Q25 vs 1Q24 & 1Q23 Net Sales (1Q25) (vs 1Q24) (vs 1Q23) • Despite decrease in domestic cement volume, 1Q25 EBITDA 10.355 m ₺ (254 m €) -8% -3% margin and EBITDA improved on a YoY basis, thanks to favorable production costs and higher efficiency. EBITDA (1Q25
Slide 4: Peer Analysis · Superior Performance in 1Q25
01 Peer Analysis · Superior Performance in 1Q25 -8% +21% -28% Sales Revenue 1Q24 1Q25 OYAKC Competitor 1 Competitor 2 +4% +38% -73% EBITDA OYAKC Competitor 1 Competitor 2 +3,2 pp +2,0 pp -5,4 pp EBITDA Margin (%) Source: KAP, Public disclosures OYAKC Competitor 1 Competitor 2 4
Slide 5: Industry Leadership & Achievements
01 Industry Leadership & Achievements Market leader in Türkiye Operates in 7 regions with 24 m tons installed capacity Wide product portfolio for building material sector Cement, clinker, RMC, aggregates, lime, marble, ash and slag One of the leading white cement producer 1 m tons of white clinker c
Slide 6: Sustainability targets drive long-term value
01 Key Messages & Financial Highlights · Sustainability targets drive long-term value The first cement company in Türkiye to make a “Net Zero” commitment Alternative Fuel Usage 58,0% 24,5% 27,6% 17,4% Operational efficiency 6,4% 2016 2020 2024 2025 Q1 2030 Readiness to regulatory changes Sustainabil
Slide 7: Cement Sector
Cement Sector fbtcc | @ax) GROUP HOLDINGS CEMENT
Slide 8: 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. 4 Marmara 98,3 56 19 Clinker Prod. Cap. 22,3 m ton m ton # of Integrated P. 11 # of Grinding P. 2 Clinker Capacity Group (m ton/year)
Slide 9: Turkish Cement Sector · 1Q25, 1Q24 and 1Q23
02 Turkish Cement Sector · 1Q25, 1Q24 and 1Q23 Cement Production (m ton) Export (m ton) 2023 – 2024 2023 – 2024 6,4 5,2 4,9 5,9 6,0 +2% 4,8 +3% 2024 –2025 2024 –2025 3,5 3,7 +6% 3,8 +7% Cement 1,2 1,7 0,9 Clinker 1M23 1M24 1M25 1Q23 1Q24 1Q25 Domestic Cement Consumption (m ton) Clinker Stock (m ton)
Slide 10: Turkish Cement Sector · 1M25 vs 1M24
02 Turkish Cement Sector · 1M25 vs 1M24 Domestic Cement Consumption (change %) Türkiye +14,9% +15,8% -4,9% +57,8% +17,6% -16,3% +47,9% +26,5% OYAK Cement Plants (integrated) Source: TCMB 10
Slide 11: Turkish Cement Sector · 1Q25 vs 1Q24
02 Turkish Cement Sector · 1Q25 vs 1Q24 Cement Exports (‘000 ton) Clinker Exports (‘000 ton) 1Q24 1Q25 1Q24 1Q25 +7% +33% 5.216 4.892 1.694 1.216 1.920 1.879 240 224 539 164 144 146 328 104 115 215 292 149 206 119 200 51 80 0 USA Italy Syria Romania Albania Total Italy Ivory Coast Romania Cameroon F
Slide 12: OYAK Cement · Türkiye
02 OYAK Cement · Türkiye Cement Capacity 24 m ton İstanbul Kocaeli Zonguldak 1 Ordu Rize 5 1 3 3 1 1 Concrete Capacity 4 1 1 1 2 1 Bolu 14,3 m m 3 1 1 9 Ankara Aggregates Capacity 2 1 7,8 m ton 4 2 1 1 Denizli 2 1 Mardin 1 3 4 1 7 2 Hatay Adana 1 OYAK Cement operates 7 integrated and 3 grinding Ceme
Slide 13: Export Distribution Channels
02 Export Distribution Channels United Kingdom - Port of Bristol France - Port la Rouen Romania - Port of Mangalia France - Port la Nouvelle Portugal - Viana Do Castelo TRNC - Port of Famagusta 13
Slide 14: Financial Results
Financial Results fbtcc | @ax) GROUP HOLDINGS CEMENT
Slide 15: Quarterly EBITDA & margin expansion on a YoY basis
03 Financial Results · Quarterly EBITDA & margin expansion on a YoY basis SALES REVENUE (m TL) EBITDA (m TL) NET INCOME (m TL) 23,4% 29,5% 26,6% 9,9% 13,4% 9,6% 12.295 11.275 -8% +4% -11% 10.355 YoY YoY YoY -16% 3.627 -24% -40% QoQ 2.752 QoQ QoQ 2.634 1.652 1.115 996 1Q24 4Q24 1Q25 1Q24 4Q24 1Q25 1Q
Slide 16: 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% 16% 20% Sales Revenue (LTM) NWC (m TL) 7.891 7.636 7.155 6.900 6.984 5.791 6.502 7.056 6.321 7.539 5.977 4.448 -4.658 -5.294 -5.786 -5.166 -5.909 -6.678 Trade Receivables Inventories Trade p
Slide 17: 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) -2.016 1.521 6.747 9.190 8.054 8.268 0,62 0,56 0,55 7.314 0,47 6.992 6.659 8.422 0,14 5.069 1.574 4.083 2.285 1.045 -85 852 696 -19 -68 1.565 1Q24 1Q25 -2.419 -70 -100 -2.9
Slide 18: Free Cash Flow
03 Free Cash Flow m TL 2.752 FCF/ EBITDA 1Q25 -1.506 -57 -2% -1.238 -48 EBITDA NWC Change Tax Payments CAPEX Free Cash Flow m TL 2.634 -524 -39 1.611 FCF/ EBITDA -461 1Q24 61% EBITDA NWC Change Tax Payments CAPEX Free Cash Flow 18 IAS-29 applied financials
Slide 19: Q&A
Q&A fbtcc | @ax) GROUP HOLDINGS CEMENT
Slide 20: Appendix
Appendix fbtcc | @ax) GROUP HOLDINGS CEMENT
Slide 21: 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 to
Slide 22: TCC · Global Footprint
04 TCC · Global Footprint Taiwan China Cement Capacity Clinker Capacity 77 m ton 65,8 m ton United Kingdom France Netherlands Cement Capacity Clinker Capacity 35 m ton 18,0 m ton Portugal Romania Integrated Grinding Calcined Türkiye Facility Facility Clay Facility 10 7 3 TRNC RMC Aggregates Paper &
Slide 23: Cement Product Portfolio
04 Cement Product Portfolio NEW NEW • CEM II/A-LL 42.5 R • CEM II/B-M (S-L) 42.5 R • CEM II/C-M (P-LL) 32.5 N • CEM I 52.5 R • CEM II/A-LL 52.5 R • CEM VI (S-LL) 32.5 R • CEM II/A-M (S-L) 42.5 R • CEM II/B-M (S-V) 42.5 R • CEM VI (S-L) 32.5 R • CEM II/A-M (P-LL) 42.5 R • CEM II/A-S 42.5 R • CL 80 -
Slide 24: 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 25: Income Statement
04 Income Statement m TL 1Q25 1Q24 ∆% Revenue 10.355 11.275 -8% Cost of sales -7.689 -8.638 -11% Operating expenses -711 -546 -30% Other operating income / (expenses) 155 39 297% Operating profit / (loss) 2.110 2.130 -1% Income / (Expenses) from Investing Activities 244 66 270% Financial income / (e
Slide 26: Balance Sheet
04 Balance Sheet m TL 1Q25 2024 m TL 1Q25 2024 Current assets 27.761 24.923 Current liabilities 15.466 10.556 Cash and cash equivalents 7.314 6.992 Short term borrowings 1.085 68 Financial investments 4.083 2.285 Trade payables 5.909 6.678 Trade receivables 7.891 7.636 Other current liabilities 8.47
Slide 27: Cash Flow
04 Cash Flow m TL 1Q25 1Q24 A. CASH FLOWS FROM OPERATING ACTIVITIES 360 1.979 Profit for the Period 996 1.115 Adjustments Related to Reconciliation of Net Profit for the Period 1.320 1.086 Changes in Working Capital -1.465 -92 Cash Flows from Operations 852 2.109 - Payments Related to Provisions for
Slide 28: Quarterly Managerial Revenue and EBITDA Development
04 Financial Results · Quarterly Managerial Revenue and EBITDA Development Quarterly Revenue (m TL) L12M* Revenue (m TL) 39.289 41.509 36.102 11.159 11.035 32.012 28.257 10.118 9.196 7.898 1Q24 2Q24 3Q24 4Q24 1Q25 1Q24 2Q24 3Q24 4Q24 1Q25 Quarterly EBITDA (m TL) L12M EBITDA (m TL) 27,6% 37,9% 35,1%
Slide 29: Managerial Net Income Development
04 Financial Results · Managerial Net Income* Development Quarterly Net Income (m TL) L12M Net Income (m TL) 34,7% 38,7% 36,6% 35,5% 34,9% 13.946 14.504 12.380 13.223 9.807 3.742 3.787 3.806 3.169 2.611 1Q24 2Q24 3Q24 4Q24 1Q25 1Q24 2Q24 3Q24 4Q24 1Q25 Net Income Margin (%) * Figures are derived fro
Slide 30: Contact Information
Contact Information Ali Onur AYGÜN Country Director – Financial Affairs Burak KÖROĞLU Accounting and Tax Director Ece Nur DEVECİ Financial Planning and Analysis Manager OYAK Cement Contact Information : iletisim@oyakcimento.com investor.relations@oyakcement.com +90 312 220 01 12
Slide 31: Disclaimer · Forward-looking Statements
Disclaimer · Forward-looking Statements Bu sunum OYAK Çimento Fabrikaları A.Ş. tarafından sadece bilgi sağlamak amacıyla hazırlanmıştır. OYAK Çimento Fabrikaları A.Ş. yönetimi tarafından sağlanan kamuya açık bilgiler ve verilere dayanmaktadır ve temel olarak, mevcut ve gelecekteki iş stratejilerimiz
Oyak Çimento Fabrikaları A.Ş. — Q1 2025 Earnings Presentation on 6ix