Kordsa Teknik Tekstil : 2022ANNUALREPORT

2022 ANNUAL REPORT

2 0 2 2

ANNUAL REPORT

Contents

About

Kordsa

6 KORDSA AT A GLANCE

1. WHY INVEST IN KORDSA?
2. STRATEGY HOUSE
3. VISION, MISSION, VALUES
4. SUSTAINABILITY APPROACH

18 DIGITAL TRANSFORMATION

22 RESEARCH & DEVELOPMENT

26 QUALITY LEADERSHIP

28 KEY FINANCIAL HIGHLIGHTS

1. SHAREHOLDER STRUCTURE
2. SABANCI GROUP IN BRIEF
3. CHAIRMAN'S MESSAGE

34 BOARD OF DIRECTORS

36 CEO'S MESSAGE

40 EXECUTIVE MANAGEMENT

44 KORDSA IN BRIEF

46 GLOBAL FOOTPRINT

Kordsa in 2022

50 KORDSA IN 2022

56 TIRE REINFORCEMENT TECHNOLOGIES

60 COMPOSITE TECHNOLOGIES

68 CONSTRUCTION REINFORCEMENT TECHNOLOGIES

70 SAFETY, HEALTH & ENVIRONMENT

72 HUMAN RESOURCES

74 INTERNAL AUDIT

76 RISK MANAGEMENT

Corporate

Governance

82 INDEPENDENT AUDITOR'S REPORT ON THE BOARD OF DIRECTORS' ANNUAL REPORT

84 ANNUAL REPORT OF THE BOARD OF DIRECTORS FOR THE ACCOUNTING YEAR OF 1 JANUARY 2022 - 31 DECEMBER 2022

104 INDEPENDENCE DECLARATIONS OF INDEPENDENT MEMBERS OF THE BOARD OF DIRECTORS

106 THE AUDITOR'S REPORT ON THE EARLY DETECTION SYSTEM AND COMMITTEE

108 2022 PROFIT DISTRIBUTION PROPOSAL AND DIVIDEND TABLE

1. CONCLUSION SECTION OF THE AFFILIATION REPORT UNDER ARTICLE 199 OF THE TURKISH COMMERCIAL CODE
2. AGENDA OF 2022 GENERAL MEETING OF SHAREHOLDERS

Financial

Information

112 CONSOLIDATED FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR'S REPORT

214 DIRECTORY

2 0 2 2

ANNUAL REPORT

• KORDSA 2022 ANNUAL REPORT

About Kordsa

WE ARE INSPIRED BY THE

PASSION TO DISCOVER THE FAR

AWAY AT KORDSA,

WE PRODUCE REINFORCEMENT

TECHNOLOGIES WITH OUR

PASSION FOR EXCEEDING

BORDERS.

We are inspired to reinforce life

About Kordsa	Kordsa in 2022	Corporate Governance	Financial Information

About Kordsa	Kordsa in 2022	Corporate Governance	Financial Information

Kordsa at a Glance

OCCUPATIONAL HEALTH AND SAFETY, AND ENVIRONMENT

Financial Capital	Human Capital
TURNOVER	Awarded
	"Most Amazing
	Place to Work"
	in Brazil

TL18.4	Awarded "Best
Employer" in
BILLION	Linkedin Talent
	Awards 2022

Awarded "Happy

Place to Work" in Türkiye

58.2

AVERAGE TRAINING HOURS IN 2022

Safety, Health &

Environment

• Recertification of one plant for "Global Recycling Standard".
• Recertification of two plants for TSE COVID-19 Safe Production Certificate.
• "OHS Event" events at all plants.
• 48,386 person-hour OHS and Environment trainings with the target of Zero Work Accident.
• Communication of OHS and Environment 12 awareness at all plants.

Intellectual Capital

Incentive Programs Support

Three EU-Funded Horizon Projects:

PolynSPIRE: Under the Horizon 2020 program, 21 project partners from 11 countries works on the innovative technology development project for efficient and sustainable plastic recycling. Using microwave technology, nylon 66 polymer was successfully converted to its raw materials by hydrolysis method and the laboratory phase of the project was completed.

DiCoMi Project: A system, software and material development project for the production of composite materials with 3D printer technology. The project is carried out with 15 project partners from 11 countries, including Kordsa and Sabancı University, under the Horizon 2020 program. The most valuable aspect of the project is to enable researchers to gain experience through international assignments.

EBITDA	48.386
EMPLOYEE HOURS
	OF SAFETY, HEALTH
	AND ENVIRONMENT
	TRAINING
TL 2.2	Number of White-Collar Employees
372
BILLION
	FEMALE

623

4,982

REINFORCERS (TOTAL NUMBER OF EMPLOYEES)

2	509	922	210
R&D	PATENTS	PATENT	MILLION
CENTERS		APPLICATIONS	R&D
			EXPENDITURE

Social and Relationship Capital

Open Innovation

CoKoon: Eco-friendlyopen-source adhesive technology developed by Kordsa and Continental available to the industry.

Solar Panel: Under the strategic cooperation agreement

WhiteCycle Project: Carried out under the Horizon Europe program with 16 partners from 5 countries, the WhiteCycle project aims to recycle complex plastic waste with groundbreaking biotechnological methods and to reduce CO2 emissions by approximately 2 million tons.

TÜBİTAK-Supported Projects:

COMACH: In the EUREKA-supported project based on collaborations with international networks, it is aimed to develop robotic systems in order to carry out composite cutting processes without harming human health, to prevent process- related errors, to design a composite milling process and to

		MALE
	REAL OPERATING
	995
	PROFIT	TOTAL
		Number of Blue-Collar Employees
	TL 1.7	357
	FEMALE
	BILLION	3,190
		MALE
		3,547
6		TOTAL
KORDSA 2022 ANNUAL REPORT	*sub-employers not included

with Ohio-based Toledo Solar Inc., a manufacturer of new generation thin film solar panels, all-glass,thin-film, recyclable solar modules with low carbon footprint will be offered as an ideal solution for the roofs of houses, workplaces and factories in Europe.

RFID Tag: As part of the cooperation between Kordsa and SES RFID Solutions, the studies for the development of a small- sized, flexible RFID tag to be placed in vehicle tires prior to the vulcanization process, using SES's patented Radio Frequency Identification (RFID) technology, are ongoing. A joint patent application was filed for the newly-developed RFID technology solution.

expand the application of these technologies in the industry.

Technology-Oriented Industrial Action, TEYDEB 1511 Project:

Under the Turkey and European Sustainability Goals, the project was entitled to be supported with the title of "Production of Compounds of Bio-Based Polyamides and Blends of Bio-Based Polyamides with Polyamide 66 for Automotive, Electric & Electronics, White Goods Sectoral Applications".

KORDSA 2022 ANNUAL REPORT

7