Klimasan Klima Sanayi Ve Ticaret A.s. · BIST:KLMSN
Klimasan Klima Sanayi Ve Ticaret A.s — H1 2022 Earnings Presentation
24 slides from Klimasan Klima Sanayi Ve Ticaret A.s's earnings presentation, Aug 1, 2023
Slide 1: 1H2022 Results Presentation
1H2022 Results Presentation
Slide 2: Legal Notice
Legal Notice In this presentation we make statements about future events (forward-looking statements) that are subject to risks and uncertainties. These statements are based on beliefs and suppositions of our Management and information to which the company currently has access. Statements about futu
Slide 3: Klimasan
Klimasan A global brand in the Leading regional brand One of Europe’s most Top brand in Europe in The leader in Turkish commercial refrigeration in Europe, Central Asia renowned commercial the area of commercial commercial refrigeration industry and the Middle East ice-cream freezers and freezers ma
Slide 4: Performance Trend
Performance Trend Domestic Sales (TLmn) Export Sales (TLmn) Total Sales (TLmn) 26% CAGR 56% CAGR 41% CAGR 614 836 1578 476 285 895 243 242 288 352 603 483 142 178 404 1H2018 1H2019 1H2020 1H2021 1H2022 1H2018 1H2019 1H2020 1H2021 1H2022 1H2018 1H2019 1H2020 1H2021 1H2022 %15,5EBITDA (TLmn) %15,1 300
Slide 5: 1H22 Highlights
1H22 Highlights NET REVENUE GROSS MARGIN EBITDA MARGIN up by 76.3% 21.1% 15.1% • Higher number of export units sold • Higher raw material costs • Increase in freight rates • Higher share of more value-added products • Escalating energy prices • Lower SG&A expenses/sales • Contribution of sales in ha
Slide 6: 1H22 Highlights
1H22 Highlights • Strong demand in Export markets • Keep contribution of non-key accounts • The process continues for the transition to Net Revenue Contribution (TL mn) the SAP system on January 1, 2023 • Price adjustments to reflect escalating costs • Better product mix • Geographical/customer dive
Slide 7: Sales and Operational Highlights
Sales and Operational Highlights • Sales operations to 90+ countries and 285+ customers Total Sales (TL mn)* 120% • 5 different geographies with different technical requirements 403 612 439 850 1.501 100% • Large service network 80% 40% 45% 44% 53% 59% 60% • Product portfolio of 110+ models 40% 60%
Slide 8: Sales and Operational Highlights
Sales and Operational Highlights Domestic Sales • Continued recovery in immediate consumption channels • Increasing share of value-added products • High contribution of non-key accounts vs pre-covid sales mix Export Sales • Triple-digit sales volume growth in key export markets in Europe&CIS • 86% i
Slide 9: 1H22 P&L
1H22 P&L • Net revenue increased by 76,3% to TL 1.578mn in 1H22 driven by strong performance both in domestic and (TL mn) 1H21 1H22 % VAR export markets, in addition to sales to new customers and currency conversion impact. Net Revenues 895 1.578 76,3% 164 333 103,7% • Gross margin was 21.1% in 1H22
Slide 10: 2Q22 Highlights
2Q22 Highlights NET REVENUE GROSS MARGIN EBITDA MARGIN up by 72.7% 19.0% 14.0% • Strong demand both in key markets • Solid revenue growth to • Lower SG&A expenses/sales compensate for higher raw • Key accounts partially resume placement material costs and increasing • Foreign currency gains from ope
Slide 11: 2Q22 P&L
2Q22 P&L • Net revenue nearly doubled to TL 952mn in 2Q22, boosted by (TL mn) 2Q21 2Q22 % VAR the currency conversion impact and the continued recovery in Net Revenues 551 952 72,7% the market. Gross Profit 103 181 75,3% • Gross margin increased to 19.0% as solid topline growth offset the adverse im
Slide 12: Balance Sheet
Balance Sheet (TL mn) 30.06.2020 30.06.2021 30.06.2022 Cash and cash equivalents 227 510 629 Trade Receivables 402 618 1135 Inventories 211 256 811 Fixed Assets 183 204 532 Other 343 465 806 Total Assets 1.366 2.053 3.913 Short-term Financial Loans 408 550 1.304 Trade Payables 192 418 879 Long-term
Slide 13: Liquidity&Debt
Liquidity&Debt Liquidity Indicators (TL mn) 30.06.2022 31.12.2021 % VAR Cash and equivalents 336 579 -42% Financial Investments 293 345 -15% Short term debt (ST) 1.296 1.066 22% Long term debt (LT) 732 825 -11% Euro denominated debt 1.500 1.891 -21% TRY denominated debt 528 0 n.m. Gross debt 2.027 1
Slide 14: Liquidity&Debt
Liquidity&Debt Net Debt/EBITDA (TL mn) Net Debt/EBITDA (EUR mn) 5,6 3,6 2,0 1H2020 1H2021 1H2022 14
Slide 15: Free cash flow generation
Free cash flow generation CapEx/Sales Net Working Capital/Sales * Free Cash Flow/Sales * Although payment terms to suppliers and customers and the average stock level of the company have not been changed significantly, net working capital demand has increased by increasing raw material prices(commod
Slide 16: Sustainability agenda
Sustainability agenda ▪ Carbon footprint measured and verified in accordance with Standard 14064-1:2018 in 2022 ▪ Life extend program - Refurbishing products to extend the useful life and upgrade to more efficient components at our new refurbishment facility in Manisa ▪ Recyclability of parts/compon
Slide 17: Strategic Position
Strategic Position Growth Supported Strong Customer Footprint Innovative Products & Positive Operational by Megatrends Base Services Performance Global beer, soft drink Established Turkey represents a -Product innovation The team is delivering and ice-cream partnerships with the large domestic retai
Slide 18: Thank you!
Thank you! For more information: investor@klimasan.com.tr www.klimasan.com.tr Elif Turak Investor Relations Manager Address: Manisa Organize Sanayi Bölgesi 1.Kısım Keçiliköy OSB Mah. Cumhuriyet Cad. No:1, 45030 Yunusemre/ Manisa/Turkey Phone: +90 236 236 2233
Slide 19: Back-up Slides
KLIMASAN Back-up Slides
Slide 20: Klimasan at a glance - Milestones
Klimasan at a glance - Milestones Corporate history dates back to 1915 when the Senocak family business was founded… Restructuring of Klimasan shares Metalfrio Extension the family started to be completes of the business and traded at Istanbul acquisition of factory the start of Stock Exchange Senoc
Slide 21: Klimasan at a glance – Shareholder Structure
Klimasan at a glance – Shareholder Structure • Brazilian multinational Free float (Other) • One of the world’s largest manufacturers of plug-in commercial refrigeration equipment 31,2% Metalfrio Solutions • Product portfolio of 350 different models of commercial refrigerators 61,0% • Direct distribu
Slide 22: Klimasan at a glance - Clients
Klimasan at a glance - Clients 2019-2021 Blue-chip client’s ratio in total is 45% ▪ Integral part of trade/marketing strategy ▪ Full range of products addressing brand priorities, ▪ Coolers/Freezers are the brand presence at POS POS consumer occasions/ multi-channels and geographies ▪ Boost consumer
Slide 23: Klimasan at a glance
Klimasan at a glance 2 production plants, 1800 employees Production Capacity (1000 units/year) 800,000+ units of annual production capacity Footprint in 90+ countries, market leader in Turkey +37% 1600+ customers and 3 mn+ units of production 813 in the last 10 years 591 Approved R&D Center in Turke
Slide 24: Klimasan at a glance - Innovation
Klimasan at a glance - Innovation Innovation & Customization Sales by product category Horizontals 43% Specials 2% Verticals 54% Customer Diversification & New Channels • Approved R&D Center in Turkey • 52 utility / patent model • 128 Industrial Designs
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