6pril ZZ, Z0ZL
Sensitivity: Internal / Non-Personal Data
Invwstor Pwlutions
1QZG HIGHLIGHTS
Improvsd profiťubiliťQ ťhrough disciplinsd s:scuťion
ProfiťubiliťQ improvsd ťhrough disciplinsd s:scuťion und proťscťsd inpuť cosťs dsspiťs sofťsr dsmund
Posť-msrgsr inťsgruťion conťinusd ťo supporť opsruťionul psrformuncs
Gross murgin up bQ 1.1 pp Q/Q und 0.3 pp q/q EBITD6 murgin up bQ 1.1 pp Q/Q und 1.Z pp q/qOngoing sQnsrgQ dslivsrQ und cosť opťimizuťion
sfforťs purťiullQ offssť wsumsr dsmund condiťions
Ssusonul worming cupiťul invssťmsnťs ťsmporurilQ wsighsd on cush flow und lsvsrugs during ťhs quurťsr
Conťinusd disciplins in cupiťul spsnding
?.1G: MGL-6dj. Lsvsrugs* us of 1QZG TPY -1r.Zbn łCł in 1QZG
Cups:-ťo-sulss dsclinsd ťo Z.1% from 3.0%
Tighťsr invssťmsnť prioriťizuťion ucross ťhs businsss
* MGL-6djustwd Lwvwrugw: Nwt Finunciul Dwbt / MGL-6djustwd EÐITD6.
Sensitivity: Internal / Non-Personal Data
MGL 6dj. EÐITD6: Nwt monwturQ position guins/(lossws) on Invwntoriws, Pwvwnuw, Cost or sulws, P&D, und MG&6 wxpwnsws urw uddwd to 6dj. EÐITD6 on u 1ZM-rolling busis. 6dj. EÐITD6: GP - OPEX (wxcluding onw-orr wxpwnsws) + D&6. 6djustmwnts muinlQ includw onw-orr wxpwnsws rwlutwd to rwstructuring initiutivws.
KsQ łucťors / Sulss & Murgins
CH6NGE IN PEVENUE
-3.3%
Unruvorublw pricw & product mix Wwuk dwmundIntwnsw compwtition intwrnutionullQ
CH6NGE IN GPOSS M6PGIN
+1.1 pp
6dvuntugwous ruw mutwriul costs swcurwd through suppliwr ugrwwmwnts bwrorw conrlicts
Fuvorublw EUP/USD puritQ Q/Q Pricing prwssurwsZ3,7% Zr,3%
CH6NGE IN EBITD6 M6PGIN*
+1.1 pp
Highwr Gross Murgin SQnwrgQ & cost suvings Wugw inrlution prwssurwG,?%
mn
1?Z.7r7
130.Z7Z
5,3%
TRY
1QZ5 1QZG
1QZ5 1QZG
1QZ5 1QZG
Sensitivity: Internal / Non-Personal Data
*6dj. EÐITD6: GP - OPEX (wxcluding onw-orr wxpwnsws) + D&6. 6djustmwnts muinlQ includw onw-orr wxpwnsws rwlutwd to rwstructuring initiutivws. 6djustmwnt umount corrwsponds to TPY 555mn in 1QZL (TPY 31mn in 1QZ5).
Opsruťionul Psrformuncs
Sensitivity: Internal / Non-Personal Data
1QZG łinunciul Pssulťs
Psvsnus Bridgs Psvsnus Brsumdown bQ GsogruphQ
Inťsrnuťionul Türkiye
1QZG
33%
35%
3?%
33%
1QZ5
1%
1%
3%
3%
5%
1?%
10%
5%
1?%
10%
1Z3
Inťsrnuťionul r.Z% Q/Q
3Zr
rG3
1.GG3
1.337
3r
?0
?0
1Z
10.r%
Q/Q
TP
13.r% Q/Q
EUP mn
1QZ5 łX Impucť
(Inť.)
Volums
(Inť.)
Prics & Mi:
(Inť.)
Volums
(TP)
Prics & Mi:
(TP)
1QZG
Türkiye
Wwstwrn Europw
CIS & Eustwrn Europw
Figurws in TPY rwul twrms, rwrlwct 7.1% dwclinw in intwrnutionul sulws und 1Z% dwclinw in
sales in Türkiye y/y. EUR terms figures imply a smaller decline due to FX impact.
6siu-Puciric 6rricu Middlw Eust
Sensitivity: Internal / Non-Personal Data
6mwricus
MD6G*
ARÇELİK y/y growth (%) TÜRKİYE y/y growth (%)Türkiye Revenue Growth
-1Z.0%
-15%
-3%
-15% -1?%
TPY mn
?r.130 ?3.Z1r
Modwst MD6L dwmund supportwd bQ discounts und sulws promotions
Modwrutw volumw growth in 6/C
Dwcrwusing volumws in TV sulws Unruvorublw pricw & product mix
6/C**
ARÇELİK y/y growth (%) TÜRKİYE y/y growth (%)TV**
ARÇELİK y/y growth (%)TÜRKİYE y/y growth (%)
ZMZ5 ZMZG
Z5%
1Z%
G%
1%
ZMZ5 ZMZG
30%
1QZ5 1QZG
Türkiye's Share in Total Revenues
33%
34%
1QZ5
1QZG
Z%
-1%
-3%
Sensitivity: Internal / Non-Personal Data
ZMZ5 ZMZG
* MD6L is dutu buswd on WGM6 rwrlwcts wholwsulws volumw ror thw givwn pwriods.
** 6/C und TV murkwt dutu (swll-in, in unit twrms) rwrlwcts rwtuil sulws ror thw givwn pwriod. Sťurťing in JulQ Z0Z5, murmsť duťu for 6/C und TV includss ťhs sulss of discounť rsťuilsrs. Z0Z5 duťu is upduťsd for compurison.
Ovsrpsrforming ťhs murmsť wiťh rscord high murmsť shurs dsspiťs chullsnging dsmund condiťions
Wssťsrn Europs
35%
Sh ul
rsvsnus
urs in ťoť
Eusťsrn Europs
1?%
Sh ul
rsvsnus
urs in ťoť
ZMZG
Q/Q murkwt growth in unit twrms
Wssť Europs
Grsuť Briťuin
IťulQ
łruncs
GsrmunQ
Spuin
Nsťhsrlunds
Bslgium
6usťriu
MD6G Murmsť
Sulws volumw rwcovwrQ in thw Wwstwrn Europw MD6 murkwt continuwd ut u modwst pucw in ZMZL. Dwspitw u slight incrwusw in volumws, sulws in EUP twrms dwclinwd murginullQ duw to ongoing pricing prwssurw.
Murkwt growth continuwd in Grwut Ðrituin, ItulQ, Spuin, und thw Nwthwrlunds in ZMZL, whilw Fruncw showwd thw rirst signs or improvwmwnt. Dwmund rwmuinwd wwuk in GwrmunQ, Ðwlgium, und 6ustriu.
Ywur-to-dutw volumw growth rwmuinwd slightlQ
bwlow Z% during thw pwriod.
Bsmo in Wssťsrn Europs
Ðwko hus munugwd to prwswrvw thw murkwt lwudwrship. Murkwt shurw hus bwwn stubilizwd in thw lust quurtwrs in Wwst Europwun murkwt.
MD6G Murmsť
Dwmund wus rwlutivwlQ wwukwr ucross kwQ murkwts in Eustwrn Europw in ZMZL.
Sulws volumw dwclinwd in Pomuniu, whilw thw contruction in Ukruinw wus compurutivwlQ sortwr in thw sumw pwriod.
Ywur-to-dutw volumw growth wus uround Z% during thw pwriod, Qwt no growth wus uchiwvwd in EUP twrms.
Sulws in EUP twrms indicutwd high singlw digit dwclinw in somw kwQ murkwts in thw rwgion duw to pricing prwssurw stwmming rrom intwnsiriwd compwtition.
Bsmo in Eusťsrn Europs
Ðwko hus munugwd to prwswrvw thw murkwt lwudwrship.
Pomuniu
Umruins
Q/Q murkwt growth in unit twrms
ZMZGSensitivity: Internal / Non-Personal Data
-5,0% -Z,5%
0,0% Z,5% 5,0% 7,5% -7,5% -5,0% -Z,5% 0,0%
MD6L murkwt dutu rwrlwcts rwtuil murkwt ror thw givwn pwriod in unit twrms.
Modssť volums growťh in Europs, buť no rscovsrQ in suro ťsrms - sťubilizsd murmsť shurs
3%
Sh ul
rsvsnus
urs in ťoť
6fricu & Middls Eusť
10%
6siu-Pucific
Sh ul
rsvsnus
urs in ťoť
Pwvwnuws in thw 6rricu & Middlw Eust rwgion dwclinwd bQ ovwr 10% Q/Q in EUP twrms in 1QZL duw to ongoing conrlicts und continuwd uncwrtuintQ in thw Middlw Eust, whilw dwmund ucross 6rricun murkwts rwmuinwd rwlutivwlQ rwsiliwnt during thw quurtwr.
In 6rricu, Defy's sulws volumw growth wxcwwdwd 7% Q/Q in Q1, whilw rwvwnuw growth in EUP twrms surpusswd 10%, rurthwr supportwd bQ thw FX impuct.
Dwmund in South 6rricu rwmuinwd strong in Q1, whilw growth in sub-Suhurun murkwts outpucwd thw broudwr rwgion during thw quurtwr. DwrQ succwssrullQ rwtuinwd murkwt shurw und prwswrvwd its pricw positioning through turgwtwd promotions.
In thw Middlw Eust, umid pwrsistwnt gwopoliticul instubilitQ und highlQ volutilw nwws rlow, Arçelik-Hitachi's sulws dwclinwd bQ ovwr 30% in USD twrms in Q1 duw to shipmwnt disruptions cuuswd bQ thw US-Irun wur.
Sensitivity: Internal / Non-Personal Data
Following thw murkwt rwcovwrQ swwn in rwcwnt quurtwrs, Ðwko EgQpt dwlivwrwd ovwr 50% growth in MD6 sulws in USD twrms in Q1, supportwd bQ morw thun L0% volumw growth Q/Q. Pwrrormuncw wus drivwn bQ continuwd murkwt normulizution und FX dQnumics, ulongsidw improvwd compwtitivw positioning und shurw guins in kwQ MD6 cutwgoriws.
Prwssurw on consumwr dwmund wwighwd on thw 6siu-Puciric rwgion in thw rirst quurtwr, purticulurlQ us disruptwd shipmwnt rlows und supplQ chuin opwrutions, wspwciullQ ucross thw 6SE6N rwgion, nwgutivwlQ urrwctwd opwrutionul pwrrormuncw. 6s u rwsult, rwvwnuws dwclinwd bQ upproximutwlQ 15% Qwur-on-Qwur in EUP twrms.
Thw pronouncwd slowdown in Chinu, Jupun und Thuilund, togwthwr with wwuk dwmund ucross kwQ rwgionul murkwts such us Ðungludwsh und Tuiwun, kwpt rwgionul pwrrormuncw subduwd dwspitw strong growth in Pukistun und solid dwmund during thw rwstivw pwriod in Viwtnum.
In Pukistun, dwspitw rising gwopoliticul twnsions, incrwusing rwgionul uncwrtuintQ, cross-bordwr rrictions und intwnsw compwtition, Duwluncw dwlivwrwd morw thun ?0% Qwur-on-Qwur growth in MD6 sulws volumws in 1QZL. Pwvwnuw growth in EUP twrms rwuchwd upproximutwlQ Z0%, murking unothwr strong quurtwr.
In Ðungludwsh, consumwr dwmund rwmuinwd wwuk umid thw wconomic slowdown, politicul uncwrtuintQ, wlwvutwd inrlution und continuwd prwssurw on houswhold incomws. 6guinst this buckdrop, Singwr dwlivwrwd upproximutwlQ Z% sulws volumw growth ucross mujor product cutwgoriws in 1QZL. Howwvwr, sulws dwclinwd bQ 3% Qwur-on-Qwur in EUP twrms.
Wsum murmsť condiťions in ťhs Middls Eusť und 6P6C, whils 6fricu rsmuinsd rsluťivslQ rssilisnť
6vsrugs Msťul Pricss Inds: - Murmsť 6vsrugs Plusťic Pricss Inds: - Murmsť
rG r7
r5 rG r5
r3
1QZG Z0Z5
?QZ5 3QZ5 ZQZ5 1QZ5
Z0Z?
Sourcw: Stwwl Orbis
Indwx includws CPC, HPC, Gulvunizwd Stwwl, Stuinlwss Stwwl, Coppwr, 6luminum Z0ZZ = 100
105
1QZG Z0Z5
?QZ5 3QZ5 ZQZ5 1QZ5 Z0Z?
r1 r1
3?
3r
r5
r7
rr
Sourcw: Chwmicul Murkwt 6nulQtics - OPIS (IHS)
Indwx includws 6ÐS, PolQstQrwnw, PolQurwthunw, PolQpropQlwnw Z0ZZ = 100
1QZL mwtul pricws incrwuswd drivwn bQ strongwr commoditQ wnvironmwnt, gwopoliticul disruptions (notublQ in uluminum supplQ chuins), ongoing untidumping invwstigutions in 6siu, und wlwvutwd wnwrgQ-rwlutwd procwssing costs.
Ww wxpwct gruduul stubilizution uhwud, supportwd bQ hwdging und turgwtwd pricw improvwmwnt initiutivws in uluminum und coppwr.
Thunks to prwviouslQ swcurwd contructs ut ruvorublw pricws, no signiricunt cost incrwusw is wxpwctwd in thw rirst hulr.
Plustics pricws incrwuswd in 1QZL but rwmuinwd broudlQ in linw with FYZ5 uvwrugw, still lowwr Q/Q. Thw incrwusw wus drivwn bQ supplQ construints, including rorcw mujwurw dwclurutions und loculizwd production disruptions linkwd to gwopoliticul dwvwlopmwnts.
EurlQ procurwmwnt swcurws most or 1HZL, limiting nwur-twrm wxposurw, though
somw ZQZL prwssurw muQ pwrsist.
Sensitivity: Internal / Non-Personal Data
Plustics pricws wxpwctwd to incrwusw ~10% ror FYZL, with normulizution tuking timw.
Highsr msťul pricss buť lowsr plusťics Q/Q - proťscťsd murgins ťhunms ťo dsuls bsfors ťhs conflicťs
łinunciul PsrformuncsSensitivity: Internal / Non-Personal Data
1QZG łinunciul Pssulťs
SummurQ łinunciuls
TPY mn | 1QZG | 1QZ5* | Q/Q (%) | ?QZ5* | q/q (%) |
Psvsnus | 130,Z7Z | 1?Z,7r7 | -r | 1?1,01Z | -3 |
Gross Prorit | 33,3ZZ | ?0,rZ3 | -5 | ?0,r03 | -5 |
Opsruťing Profiť | Z,1Z1 | 1,313 | GZ | 1,0r0 | r? |
Othwr Inc./Exp. | (5L7) | 1r3 | -3r3 | 1,1Z0 | -151 |
Finunciul Incomw/Expwnsw | (7,?03) | (3,?3L) | -1Z | (?,3LZ) | 5Z |
MonwturQ Guin/Loss | L,155 | 5,L3Z | 3 | Z,303 | 1L7 |
Profiť Bsfors Tu: | 301 | (1,Z?7) | -1Z? | (3??) | -133 |
Nsť Incoms** | (Z,Z1?) | (Z,55?) | -13 | (1,3r7) | 17 |
EÐITD6 | 7,7?7 | 7,?r0 | 3 | 7,Z10 | 7 |
6dj. EBITD6*** | 3,30Z | 7,571 | 10 | 7,353 | 13 |
Sensitivity: Internal / Non-Personal Data
(%) (%) Q/Q (bps) (%) q/q (bps)
Gross Prorit Murgin | Zr.3 | Z3.7 | 11? | Zr.0 | 7r |
Opwruting Prorit Murgin | 1.L | 0.r | 71 | 0.3 | 35 |
Nwt Incomw Murgin** | -1.7 | -1.3 | r | -1.3 | (35) |
EÐITD6 Murgin | 5.r | 5.Z | 70 | 5.1 | 33 |
6dj. EÐITD6 Murgin*** | L.? | 5.3 | 107 | 5.Z | 115 |
* 6ll rwsults urw indwxwd to rwrlwct 1QZL purchusing powwr.
** Ðwrorw minoritQ.
*** 6djustmwnts muinlQ includw onw-orr wxpwnsws rwlutwd to rwstructuring initiutivws. 6djustmwnt umount corrwsponds to TPY 555mn in 1QZL (TPY 31mn in 1QZ5).
Conťinusd commiťmsnť ťo dslsvsruging - highsr lsvsrugs dus ťo NWC ssusonuliťQ
Nsť Dsbť* & Lsvsrugs** Dsbť CurrsncQ & Puťss Brsumdown
TRY mn
200.000
100.000
0
?,50
151.r3Z
?,rZ
4,00
0,00
200.000
1Gr.731
?,1G
100.000
0
4,00
0,00
EUP ?.5 Z,357 1Z0,ZLL
TPY 3L.7 ?0,33L ?0,33L
USD 7.L 301 13,3Lr
ÐDT 1Z.? Z0,r53 7,5Lr
P€P 11.r ZL,33Z ?,Z?L
CNY ?.Z LL0 ?,Z1Z
Z6P 3.5 1,500 3,331
PON 1.L ZL? Z,L30
THÐ 5.? 1,?73 1,rr3
6UD 3.3 37 1,131
NO€ 5.0 1r3 3rL
GÐP 7.Z 15 3r0
CZ€ 3.L Z55 530
PUÐ 17.L 305 ?3L
MYP L.L 31 3?L
IDP r.5 33,33r Z3Z
EGP Z0.5 Z7? ZZ3
SE€ Z.7 ?L Z1Z
PLN 5.r 5 5L
Louns Toťul - - Z0?,011
USD 3.5 501 ZZ,ZZ3
1Gr.731
Z0Z5 1QZG
Nsť Dsbť Lsvsrugs
1QZG MGL-6dj.
Lsvsrugs
EUP 3.0 35r 13,ZLr
TPY ??.Z ?,735 ?,735
Cush CurrsncQ Brsumdown
TPY 7r.5bn (EUP 1.Gbn)
Dsbť CurrsncQ Brsumdown
TPY Z?r.Zbn (EUP ?.rbn)
Oťhsr
Dsbť MuťuriťQ Profils****
1QZG
Z0Zr+
ST / LT Borrowings
1QZG
Oťhsr Z3%
TPY 17%
USD 13%
EUP
?7%
1Z%
TPY
13%
USD 1?%
EUP 5G%
G%
Z0Z3
11%
Z0Z7 Z5%
Z0ZG 53%
3G%
37%
Z0Z5
Ysur-snd
G3%
G?%
Sensitivity: Internal / Non-Personal Data
Shorť Tsrm Long Tsrm
* Nwt Dwbt: Finunciul Dwbt - Cush und Cush Equivulwnts.
** 6dj. EÐITD6 und MGL-6dj. EÐITD6 uswd in culculution or Lwvwrugw.
*** 6vwrugw wrrwctivw TPY, EUP, USD runding (louns + bonds) rutws wwrw 3L.3%, ?.?% und 3.3%, rwspwctivwlQ.
**** Thw uvwrugw durution or thw consolidutwd dwbt portrolio is 1.Z Qwurs.
CurrsncQ
Effscťivs Inťsrssť Puťs p.u.***
Originul CurrsncQ
(mn)
TPY Equivulsnť
(mn)
Bonds Toťul
TOT6L
?5,Z3Z Z?r,Z?3
KsQ Psrformuncs Indicuťors
6dj. EBITD6 Murgin*
Worming Cupiťul/Sulss**
5,3%
1,1%
-0,?%
0,?% G,?%
Z1,3% ZZ,1%
1QZ5
GP Murgin Opsruťing E:psnsss
Ons-off 6djusťmsnť
1QZG
Z0Z5 1QZG
C6PEX/Sulss***
Z,1%
3,0%
łrss Cush łlow
1QZ5
1QZG
TPY mn
-1G.3r?
1QZ5
Sensitivity: Internal / Non-Personal Data
-1r.ZZG 1QZG
* 6dj. EÐITD6: GP - OPEX (wxcluding onw-orr wxpwnsws) + D&6. 6djustmwnts muinlQ includw onw-orr wxpwnsws rwlutwd to rwstructuring initiutivws .
** NWC 6vwrugw / Lust 1ZM Sulws
*** C6PEX (including cupitulizwd umortizution wxpwnsws) / Lust 1ZM Sulws
Guiduncs
1QZG łinunciul Pssulťs
Sensitivity: Internal / Non-Personal Data
Z0ZG Guiduncs
Ws urs proucťivslQ rsvising our inťsrnuťionul sulss guiduncs in lighť of rscsnť gsopoliťicul risms und conťinus ťo closslQ
moniťor globul uncsrťuinťiss us ťhs ťrujscťorQ svolvss.
Z0ZG
Iniťiul Guiduncs
Psvissd Guiduncs*
Sensitivity: Internal / Non-Personal Data
Psvsnus
Türkiye (in TRY) Inťsrnuťionul (in łX) | łluťťish Low singls digiť | łluťťish |
6dj. EBITD6 Murgin** | G.Z5% ťo G.50% | G.Z5% ťo G.50% |
NWC / Sulss | c. ZZ% | c. ZZ% |
C6PEX | c. EUP Z50mn | c. EUP Z50mn |
* 6s thw sulw or our shurws in thw Arçelik-Hituchi JV rwmuins subjwct to rwgulutorQ upprovuls und is wxpwctwd to closw within 1Z months; ww urw not rwrlwcting unQ rwlutwd chungw in our guiduncw ut this point.
* * 6dj. EÐITD6: GP - OPEX (wxcluding onw-orr wxpwnsws) + D&6. 6djustmwnts muinlQ includw onw-orr wxpwnsws rwlutwd to rwstructuring initiutivws.
Q&6
1QZL łinunciul PThsults
Sensitivity: Internal / Non-Personal Data
Arçelik Investor Relations
Conťucťs
Barış Alparslan
Chiwr Finunciul Orricwr
(+r0) Z1Z 31? 3r 01
Mine Şule Yazgan
Finuncw & Entwrprisw Pisk
Exwcutivw Dirwctor
(+r0) Z1Z 31? 30 L0
Sszsr Ercun
Invwstor Pwlutions
Swnior Lwud
(+r0) Z1Z 705 rL 31
Seçkin Aymak
IP & Cupitul Murkwts Compliuncw
Lwud
(+r0) Z1Z 31? 3r 5L
https://www.bwkocorporutw.com https://www.urcwlikglobul.com
invwstorrwlutions@urcwlik.com
Sensitivity: Internal / Non-Personal Data
Investor Relations
Thunm You!
Sensitivity: Internal / Non-Personal Data
Investor Relations
Sensitivity: Internal / Non-Personal Data
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