Arcelik A S Unsp/Adr (ACKAY) Q1 2022 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, thank you for standing by. I'm Jason, your Chorus Call operator. Welcome and thank you for joining the Arcelik Conference Call and Live Webcast to present and discuss the First Quarter twenty twenty two Financial Results. At this time, I would like to turn the conference over to Mr. Oskin Sheeman, Financial and Enterprise Risk Director and Mr. Austin Soilemon, Senior Investor Relations Specialist. Mr. Oskin Sheeman, you may now proceed. Good morning and good afternoon, ladies and gentlemen. Welcome to our Q1 twenty twenty two results webcast. I'm here with Aktam Solemev, our Senior Investor Relations Specialist. I will start with the highlights of first quarter. Our consolidated net sales was $8,200,000,000 in this quarter, registering 117% growth on a yearly basis and 25% growth on a quarterly basis. Excluding revenues of the acquired companies on a like for like basis, organic growth was 84% on a yearly basis. In Turkey and Eastern Europe, consumer demand was quite strong in the first two months, mainly due to the expectation of further rising of product prices due to inflation. And in Western Europe, consumer demand were weak due to high base effect. And as expected selling were contracted in Turkey in the first two months of the year. Our EBITDA margin was 10.6% in the first quarter of the year, reflecting 127 basis points expansion on a quarterly basis, mainly due to price increases and lower OpEx sales ratio. On the contrary, on a yearly basis, our EBITDA margin was down by three ninety three basis points as a result of significantly increased material costs and cycling highways. When we look at the OpEx to sales ratio in the first quarter, it improved by 108 basis points to 22.7%, while it was stable on a yearly basis. Our net working cap...