Kimteks Poliuretan Sanayi Ve Ticaret As · BIST:KMPUR
Kimteks Poliuretan Sanayi Ve Ticaret As — H1 2022 Earnings Presentation
43 slides from Kimteks Poliuretan Sanayi Ve Ticaret As's earnings presentation, August 2022
Slide 1: 2022 First Half Data Investor Presentation
KİMTEKS POLİÜRETAN SANAYİ VE TİCARET A.Ş. and ITS SUBSIDIARIES 2022 First Half Data Investor Presentation August 2022
Slide 2: Cavidan Karaca, CEO
Cavidan Karaca CEO & Vice President of the Board 2015 Kimpur – CEO and Vice President of the Board 2014 Kimteks Kimya Tekstil Ürünleri A.Ş. – Consultant 2002 İnnovis Ticaret ve Danışmanlık A.Ş. – General Manager 2001 Omsan Lojistik A.Ş. – Purchasing Director 1997 Arçelik A.Ş. – Purchasing Manager 19
Slide 3: Overview
1 | Overview
Slide 4: Why Kimpur?
WHY KİMPUR? OUR VISION To be one of the top 10 players in the world with innovative products and uncommon solutions in polyurethane systems Turkey's first domestically capitalized polyurethane systems manufacturer, combining "Advanced Technology" systems based on "Smart Business Model" with agile &
Slide 5: 39 Years of Success
39 YEARS OF SUCCESS R&D R&D Center Certificate Capacity Increase Production 72 kT Sales Volume Hadımköy Plant Capacity Increase Activity Area Collaborations with Footwear System Sales 30 kT Sales Volume 6 Sigma Rigid System Arçelik and Vestel Sales . Excellence Model 1983 1999 2008 2009 2010 2015 20
Slide 6: Our Global Activities
OUR GLOBAL ACTIVITIES Company Country Capital Share (%) Activity Area Kimpur Russia Russia 100% Sales, storage and distribution services Wholesale of plastics and rubber in primary Kimpur Kimplast Turkey 83% Russia form Kimpur Polyurethane production in a capacity of 25 Latvia 75% Kimpur Europe Euro
Slide 7: Numbers at a Glance
NUMBERS AT A GLANCE 130 25 65 39 kT kT kT YEARS PRODUCTION PRODUCTION DÜZCE EXPERIENCE CAPACITY CAPACITY INVESTMENT IN TURKEY IN EUROPE PROJECT WE EXPORT MORE THAN EXPORT TO 234 %31 600 +50 EMPLOYEES (27 IN R&D) OF OUR SYSTEMS AND COUNTRIES TOTAL BUSINESS PRODUCTS
Slide 8: Strong Volume & Profitability Increase
STRONG VOLUME & PROFITABILITY INCREASE Revenue Increase (Million TL) Export Increase (Thousand Tons) 88,2 2.172,7 2.187,8 72,8 62,1 50,7 938,8 27,7 23,4 23,4 715,0 15,4 Revenue Increase (Million TL) 2019 2020 2021 2022 1Y 2019 2020 2021 2022 1Y Sales Export Volume İhracat Satış Hacmi Hacmi Volume EB
Slide 9: Taking Firm Steps Forward
TAKING FIRM STEPS FORWARD Our polyurethane system house with the largest production capacity and sales volume in Turkey maintains our success as a global manufacturer. Abbreviations
Slide 10: Supply Chain & Logistics Management
SUPPLY CHAIN & LOGISTICS MANAGEMENT Largest purchasing volume in the industry in Turkey Kimpur Logistics Storage Network ~90% import rate in production inputs European and Far Eastern origin manufacturers in raw material supply Abbreviations Proactive raw material estimation & cost activitie
Slide 11: Structure of Shareholders
STRUCTURE OF SHAREHOLDERS Shareholding Structure Before Public Shareholding Structure Shareholder Offering After Public Offering Group Amount (TL) Rate Amount (TL) Rate A 23,594,000 21,45% 23,594,000 19,41% Yuda Leon Mizrahi B 26,844,000 24,40% 17,008,590 13,99% A 5,547,000 5,04% 5,547,000 4,56% Abb
Slide 12: Strategic Priorities
2) Strategic Priorities
Slide 13: Highlighted Investments
HIGHLIGHTED INVESTMENTS Reliable Solution Partnership R&D Center & Innovative Activities Strong Domestic & Export Growth Strategy with Wide Product Range Environmental and Social Sustainability Sustainable Enlargement Policies Strong Financial Performance
Slide 14: Reliable Solution Partnership
i. Reliable Solution Partnership
Slide 15: Reliable Solution Partnership
RELIABLE SOLUTION PARTNERSHIP Product Management Human Resources Supply Chain Management Brand Awareness Global and Agile Organization Structure Competitive Product Delivery Customer Loyalty Time Sectoral Diversity Experienced R&D Team Wide Product Range Strong Supplier Relationships E
Slide 16: R&D Center & Innovative Activities
ii. R&D Center & Innovative Activities
Slide 17: Leading the Sector with Its R&D Center
LEADING THE SECTOR WITH ITS R&D CENTER Turkey's Polyurethane R&D Power Simulation Lab Among the 250 companies with the highest R&D expenditures Original products developed with machinery and molding Among the top 100 companies as per the number of projects investments are simulated for customer appl
Slide 18: Innovative Applications
INNOVATIVE APPLICATIONS R&D Expenditure (Million TL) Patents on polyurethane system and polyurethane 9,9 rigid foam* 8,1 7,2 6,0 5,2 19 Registered Trademark 1,8 2017 2018 2019 2020 2021 2022 1Y *Patents owned by the company: • Very Low Density Polyester Based Polyurethane System Used in the Producti
Slide 19: Wide Product Range, Strong Domestic Operations & Export Growth Strategy
iii. Wide Product Range Strong Domestic Operations & Export Growth Strategy
Slide 20: Uncommon Solutions in Everyday Life
UNCOMMON SOLUTIONS IN EVERYDAY LIFE More Than Wide 600 Product Systems Range
Slide 21: Strong Position in Different Sectors with Income Diversity
STRONG POSITION IN DIFFERENT SECTORS WITH INCOME DIVERSITY Sales 2019 2020 2021 First Half (Tons) Raw Domestic Other Polyester Export Materials 1% Domestic 34.440 49.391 64.726 35.228 13% Case 3% Foowear 16.749 18.294 19.956 12.091 Polyester Raw Materials 1% Rigid 9.873 23.223 33.635 15.218 3% 3% Fl
Slide 22: Kimpur Product Groups
KIMPUR PRODUCT GROUPS Sales Breakdown of Product Groups by Years - Quantity (%) 2,0% 2,7% 1,1% 1,1% 1,8% 1,5% 1,4% 2,0% 0,5% 2,2% 1,7% 2,7% 3,3% 1,0% 6,8% 2,9% 6,4% 1,2% 1,7% 1,0% 1,1% 0,9% 7,8% 4,7% 10,2% 16,0% 12,7% 5,5% Abbreviations 5,8% 1,0% 10,0% 32,9% 43,3% 45,3% 46,4% 39,9% 68,0% 46,1% 41,3%
Slide 23: Rigid Foam Systems
RIGID FOAM SYSTEMS Rigid Foam Systems Sales Quantity (Tons) Two-component rigid foam systems for insulation for panels and 40.923 40.650 white appliances; 31.497 • The primary component is a physical mixture of polyether polyols, called Polymix, catalyst, surfactant, water and/or 20.425 20.208 blo
Slide 24: Shoe and Slipper Systems
SHOE AND SLIPPER SYSTEMS Shoe Systems Sales Quantity (Tons) Expanded micro-cellular foams in both ester and ether form for 39.250 all types of footwear soles, from work safety to sports and daily 32.429 wear 28.642 30.101 20.080 KIMfoot® consists of 3-component polyester systems. • The primary c
Slide 25: Flexible Foam Systems
FLEXIBLE FOAM SYSTEMS Flexible Foam Systems Sales Quantity (Tons) 8.680 7.871 MDI-based KIMflex® Flexible Foam Systems by Kimpur • HR foam systems, 5.690 • Viscoelastic systems, 4.890 • Integral systems 2.930 • Filter systems. Systems for the production of flexible foam and integral used in the
Slide 26: Special Products
SPECIAL PRODUCTS Special Products Sales Quantity (Tons) 1.230 1.300 Polyurethane Systems for elastomeric applications in expanded foams 1.003 and non-foam structures. Reaction Injection Molding (RIM), Micro-cellular Structural Foam RIM, 774 SRIM (Structural RIM Composites) and low density RRIM (
Slide 27: Polyester Polyols
POLYESTER POLYOLS Polyester Polyols Sales Quantity (Ton) 2.920 The KIMpol® Polyester Polyols consist of multifunctional carboxylic acid and polyhydric alcohol combinations with various functions, to provide the best solutions to industries such as the footwear (system component), paint, foam, elas
Slide 28: Raw Materials
RAW MATERIALS ® Raw Materials Sales Quantity (Ton) 6.009 6.000 The raw materials supplied by Kimpur are gathered under one product group, Kimraw®, and are used in many different fields such as 5.175 polyurethane systems, plasticizers, adhesives, construction chemicals Abbreviations and paints. 2.3
Slide 29: Strong Export Growth Strategy (45+ Countries)
STRONG EXPORT GROWTH STRATEGY (45+ COUNTRIES) Abbreviations
Slide 30: Strong Export Growth Strategy (45+ Countries)
STRONG EXPORT GROWTH STRATEGY (45+ COUNTRIES) Sales to more than 45 countries / more than 1,000 Total Sales & Exports (Thousand Tons)* Improvement current customers through its domestic and foreign 200,0 sales team 180,0 160,0 Balanced distribution with 80% of exports and 20% of 140,0 customers
Slide 31: Export Improvement - Increasing Market Power
EXPORT IMPROVEMENT - INCREASING MARKET POWER Improved Number of Export Countries Export Improvement (Million €) 44 47 47 27.675 41 34 23.414 23.430 25 15.431 2017 2018 2019 2020 2021 2022 First Half 1.YARIYIL 2019 2020 2021 2022 1.YARIYIL 2022 First Half Share of Exports in Total Sales (%) 45 32 31
Slide 32: Environmental & Social Sustainability
iv. Environmental & Social Sustainability
Slide 33: Sustainable Future with Kimpur
Investments SUSTAINABLE FUTURE WITH KIMPUR Environmental and Social Sustainability
Slide 34: Our Projects
Investments OUR PROJECTS Environmental Sustainability Energy Savings: 11.6% in 2020 - 7.1% in 2021 With the GES investment in Gebze, the target of 20% clean energy and carbon emission reduction of 200-250 tons/year Business Plastics Initiative (IPG) Commitments Carbon and Water Footprint Mea
Slide 35: Sustainable Expansion / Investment in Düzce
SUSTAINABLE EXPANSION / INVESTMENT IN DUZCE 17.015 m2 in Gümüşova March 2022: Organized Industrial Site Construction Start Date Investment for production factory on land End of 2022: Construction Completion Date Investment size of 15 m USD Early 2023: Investment for Kimpur Düzce Factory Production S
Slide 36: Zafer Demirel, CFO
Zafer Demirel CFO 2022 Kimpur – CFO 2018 Anadolu Isuzu – Head of Finance, Reporting & IR 2015 Sütaş – Financial Control and Business Development 2013 Anadolu Efes – Financial Reporting and Budgeting 2009 Borusan Holding – Financial Control and Reporting 2006 Deloitte – Audit Middle East Technical Un
Slide 37: Strong Financial Performance
iv. Strong Financial Performance (2022 1. Half-Year Critical Financial Indicators)
Slide 38: Increasing Exports & Stable Growth
INCREASING EXPORTS & STABLE GROWTH Net Sales (Million TL) CAGR: 85.1% 2.500,0 2.187,8 2.000,0 631,8 1.500,0 970,0 1.000,0 284,5 1.556,0 344,8 500,0 124,7 685,5 220,1 - 2020 1Y 2021 1Y 2022 1Y Yurtiçi Satışlar Domestic Sales Export * İhracat * Export registered and exports to the free zone have been
Slide 39: Strong Growth in Profitability
STRONG GROWTH IN PROFITABILITY Gross Profit (Million TL) EBITDA (Million TL) 600,0 18,00% 17,4% 600,0 19,0% 20,00% 17,3% 17,3% 500,0 17,50% 17,7% 19,00% 500,0 415,8 18,00% 400,0 378,4 17,00% 400,0 15,8% 17,00% 16,00% 300,0 16,50% 300,0 15,00% 200,0 168,3 16,00% 200,0 171,7 14,00% 13,00% 100,0 Abbrev
Slide 40: Strict Balance Sheet Management & Healthy Financial Liability Ratios
STRICT BALANCE SHEET MANAGEMENT & HEALTHY FINANCIAL LIABILITY RATIOS Net Financial Liabilities (Million TL) Net Working Capital (Million TL) 1.200 1,19 1,19 1,00 0,89 1.600 1.000 100,0% 0,88 791 795 1.400 800 710 0,50 42,7% 45,3% 48,1% 666 1.200 45,5%50,0% 551 1.000 600 483 - 800 1.542 0,0% 400 1.30
Slide 41: Financial Priorities
FINANCIAL PRIORITIES FINANCIAL PRIORITIES Sustainable profitability growth Strict balance sheet and working capital management Positive Free Cash Flow priority Proactive currency risk management Effective financial debt management Maximum dividend yield
Slide 42: Record Level Profitability & Solid Balance Sheet Ratios in 1H 2022
RECORD LEVEL PROFITABILITY & SOLID BALANCE SHEET RATIOS IN 1H 2022 2.188 mTL Net Sales, +126% 632 mTL Export*, +122% 1.556 mTL Domestic Sales, +127% vs 2021 1H vs 2021 1H vs 2021 1H •Domestic: +127% •Sales volume (tons): +18% •Sales volume (tons): +7% •Export*: +122% •Export to 45+ countries 356 mTL
Slide 43: Contact
CEO: Cavidan Karaca cavidan.karaca@kimpur.com CFO: Zafer Demirel zafer.demirel@kimpur.com +90 532 620 31 13 IR: Damla Mermeroglu damla.mermeroglu@kimpur.com +90 531 650 27 77 investorrelations@kimpur.com / info@kimpur.com / www.kimpur.com Registered Office Factory Gaziantep Branch Emniyet Evleri Mah
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