Haci Omer Sabanci Holding A.s. · BIST:SAHOL
Haci Omer Sabanci Holding A.s — Hacı Ömer Sabancı Holding A.Ş. — Q2 2025 Earnings Presentation
26 slides from Haci Omer Sabanci Holding A.s's earnings presentation, Aug 14, 2025
Slide 1: Earnings Presentation Q2/H1 2025
Earnings Presentation Q2/H1 2025 Most Honored Company in Emerging EMEA Industrials Extel August 14, 2025 2025
Slide 2: Disclaimer
Disclaimer The information and opinions contained in this document have been compiled by Hacı Ömer Sabancı Holding A.Ş. (“Holding”) 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 correctne
Slide 3: Strategic Highlights and Financial Highlights
Strategic Highlights Financial Highlights Focused execution driving strategic delivery Accelerated margins led to an earnings swing driven by financial discipline Key Developments (YTD) Financial Resilience (Q2’25 & H1’25) ๏ Combined Revenue Growth: 4% increase yoy both in Q2’25 and H1’25 ๏ Acquisit
Slide 4: Combined Financials Q2/H1 2025 Results
Combined Financials Q2/H1 2025 Results 01 /03
Slide 5: Re-tightening at home, with limited price spillover from global risks
Re-tightening at 5000 Geopolitical Risk Index Trade Policy Risk Index 350 4500 home, with limited 4000 300 3500 250 price spillover 3000 200 2500 2000 from global risks 150 1500 100 1000 50 500 0 0 2020 2021 2025 2016 2022 2023 2024 2011 2012 2017 2018 2019 1985-2010 2013 2014 2015 Jun 23 Jun 24 Mar
Slide 6: Portfolio resilience and financial discipline led to non-bank margin expansion
Portfolio resilience and financial discipline, led to non-bank margin expansion & a strong YoY swing toward profitability Combined Revenue (TL bn)(1) Combined EBITDA (TL bn) Consolidated Net Income/Loss (TL bn) 13.5% 4% 10.3% 4% 357.0 344.5 4% 1.8 198.1 -22% 36.2 190.9 34.7 0.1 14.7 1.7 4% 18.8 36%
Slide 7: 2025 tracking better than last year, with higher non-bank contribution
2025 tracking better than last year, with higher non-bank contribution substantially reducing bottom-line loss Combined Revenue (TL bn)(1) Combined EBITDA (TL bn) Consolidated Net Income/Loss (TL bn) 12.2% 4% 10.3% 8% 714.1 -8% 688.2 208 83.4 170 -25% 76.5 367.6 397.0 -0.8 139 -0.6 151.6 -4.2 50.2 1
Slide 8: OCF more than doubled on EBITDA progress & working capital discipline
OCF more than doubled on EBITDA Return on Equity progress & working capital Bank Non-Bank Consolidated discipline... 7.0% Operational Cash Flow, Combined & Non-bank (TL bn)(1) -2.8% -5.1% 11.2% 68.8 1.7% -0.7% -2.3% 58.9 -6.6% 28.8 -9.7% 12.8 2023 2023 2023 20242024 2024 H1 2025 H1 2025 H1 2025 Bank
Slide 9: Providing strategic flexibility through a healthy balance sheet
...providing strategic flexibility Non-Bank Capex/Sales (2) through a healthy balance sheet 13.5% Net Financial Debt to Non-Bank EBITDA(1) Holding Only - Net Cash (TL bn) 12.6% 11.4% 11.3% Policy: ≤ 2x 13.3 12.4 1.7x 1.4x 7.0 0.7x 2023 2024 H1 2025 2023 2024 H1 2025 2023 2024 H1 2024 H1 2025 (1) Exc
Slide 10: Both NAV and discount rebounded from YTD lows
Both NAV and discount rebounded from YTD lows, maintaining attractive discount NAV (USD bn) & NAV Discount(1) July 2025 10.6 Energy & Climate 9.8 Technologies Material Technologies 34% 16% 8.7 54.7% Digital 49.4% USD9.8bn 1% 46.0% Other 6% Cash 3% Dec 2024 Apr 2025* Jul 2025 Banking & Financial Serv
Slide 11: Segment Financials
segment mek LL _—_ Financials st IP 02 /o3
Slide 12: Bank / Proven resilience through shifting economic conditions
Bank / Proven resilience through shifting economic conditions Current Assessment Active Customer Base (1) Net Fee Income Market Share (2) ๏ Robust solvency with 17.4% CAR(2) & 13.8% Tier 1(2) (mn) (%) creates substantial competitive advantage for profitable growth +73% 17.0 ๏ Strength of flexible ba
Slide 13: Bank / Robust fee income supports core revenue generation
Bank / Robust fee income supports core revenue generation % Q1 2025 Q2 2025 Change H1 2024 H1 2025 Change Leverage 11.7x 11.5x -0.2x 10.4x 11.5x 1.1x CIR(1) 51.1% 58.2% 7.1 pp 56.0% 54.5% -1.5 pp CAR(2) 17.4% 17.4% -0.1 pp 16.4% 17.4% 1.0 pp Tier-1(2) 13.8% 13.8% - 13.9% 13.8% -0.1 pp % H1 2024 H1 2
Slide 14: Financial Services / GWP growth in life continues
Financial Services / GWP growth in life continues, yet selective focus on profitable products prevailed in non-life Current Assessment Life, PA & Medisa GWP(1) (TL bn) Pension AUM(2) (TL bn) Life: 10% 282.3 36% 14.3 255.1 ๏ Leadership in both Private Pension AuM and Life & PA premium production amon
Slide 15: Financial Services / Sharp improvement in net income
Financial Services / Sharp improvement in net income as non-life’s contribution gained momentum post restructuring Financial Services Segment Summary Financials(1) MILLION TL Q2 2024 Q2 2025 Change H1 2024 H1 2025 Change SALES 13,615 13,424 -1% 33,024 30,530 -8% EBITDA 1,514 2,664 76% 1,495 3,999 16
Slide 16: Energy / Solid pickup in generation volumes
Energy / Solid pickup in generation volumes with higher natural gas contribution, distribution gains from efficiency & quality Current Assessment Distribution & Retail & Customer Solutions: Generation volume (TWh) Spot Prices vs BOTAŞ Tariff ๏ Opex outperformance together with higher 7.0 capacity re
Slide 17: Energy / Major improvement in segment's EBITDA
Energy / Major improvement in segment's EBITDA with higher contribution from generation business Energy Segment Summary Financials(1) MILLION TL Q2 2024 Q2 2025 Change H1 2024 H1 2025 Change SALES 67,176 73,292 9% 137,807 144,921 5% EBITDA 9,174 14,055 53% 21,732 27,136 25% EBITDA MARGIN 14% 19% 552
Slide 18: Material Technologies / Weak domestic demand compensated by international sales
Material Technologies / Weak domestic demand compensated by int'l cement & tire sales, composites partly offset weak tire reinforcement Current Assessment Cement Cement Cement: Sales Volume (1) (mn ton) Petcoke Prices (2) ๏ Challenging market conditions persists while 0.5 4.0 strong sales volume fro
Slide 19: Material Technologies / Domestic market backdrop pressured top-line
Material Technologies / Domestic market backdrop pressured top-line on cement & tire, higher financing cost further hit bottom-line Material Technologies Summary Financials(1) MILLION TL Q2 2024 Q2 2025 Change H1 2024 H1 2025 Change SALES 34,824 34,273 -2% 71,830 66,669 -7% Cement 46% 54% 44% 51% Ti
Slide 20: Digital & Other / Weaker domestic activity, alternative channel growth solid
Digital & Other / Weaker domestic activity took a tall on demand, alternative & online channel growth remains solid Current Assessment Panel Market Revenue Growth(1) Retail Electronics Gross Margins Digital: (Real, Y-o-y%) 14.4% +2.1pp ๏ EBITDA improvement driven by contributions from cloud business
Slide 21: Digital & Other / EBITDA improvement, financial expenses pressured bottomline
Digital & Other / EBITDA improvement on an annual basis, yet financial expenses and monetary loss pressured bottomline Digital Segment Summary Financials(1) MILLION TL Q2 2024 Q2 2025 Change H1 2024 H1 2025 Change SALES 664 988 49% 1,572 2,628 67% EBITDA -154 -22 86% -347 -17 95% EBITDA MARGIN -23%
Slide 22: Appendix
Appendix 03 /03
Slide 23: Dividend Performance
Dividend Performance MILLION TL 2021 2022 2023 2024 2025 Akbank 255 494 3,666 4,063 2,589 Akçansa 42 36 99 457 477 Aksigorta 110 - - - - Agesa 64 - 60 120 400 Brisa 107 270 479 452 283 Carrefoursa - - - - - Çimsa - 109 218 545 327 Kordsa - 114 41 - - Teknosa - - - - - Enerjisa Enerji 454 586 1,087 1
Slide 24: Financials in Detail
Financials in Detail Combined Revenue(1) Combined EBITDA Consolidated Net Income/Loss MILLION TL Q2 2024 Q2 2025 Change H1 2024 H1 2025 Change Q2 2024 Q2 2025 Change H1 2024 H1 2025 Change Q2 2024 Q2 2025 Change H1 2024 H1 2025 Change TOTAL 344,450 357,041 4% 688,186 714,122 4% 34,650 36,183 4% 83,4
Slide 25: Sabancı Holding NAV After Independent Valuation Reports
Sabancı Holding NAV After Independent Valuation Reports USD mn July 2025 December 2024 Companies Free Float Direct Stake Valuation Method Mcap Value to Sabancı Holding % of NAV Value to Sabancı Holding % of NAV Akbank 54% 41% Market value 8,664 3,531 36.1% 3,895 36.8% Enerjisa Enerji 20% 40% Market
Slide 26: Investor Relations
Meet SirA, Sabancı Holding's digital Capital Markets Investor Presentation - ir.sabanci.com investor relations assistant ! Day 2024 Group Strategy Türkiye’s First Investor Relations Dedicated Assistant ! SBU Presentation – Energy & Earnings 2024 Annual Climate Technologies Presentation Report Kerem
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