Kordsa Teknik Tekstil : 1H 2022 Kordsa Earnings Presentation
August 10, 2022 at 05:57 am EDT
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Kordsa.com
Earnings Release
Aug 10, 2022
Disclaimer
The information and opinions contained in this document have been compiled by KORDSA Teknik Tekstil Anonim Şirketi (the "Company") from sources believed to be reliable and in good faith, but no representation or warranty, expressed or implied, is made as to their accuracy, completeness or correctness. No undue reliance may be placed for any purposes whatsoever on the information contained in this presentation or on its completeness, accuracy or fairness. This document may contain forward-looking statements by using such words as "may", "will", "expect", "believe", "plan" and other similar terminology that reflect the Company management's current views, expectations, assumptions and forecasts with respect to certain future events. As the actual performance of the companies may be affected by risks and uncertainties, all opinions, information and estimates contained in this document constitute the Company's current judgment and are subject to change, update, amend, supplement or otherwise alter without notice. Although it is believed that the information and analysis are correct and expectations reflected in this document are reasonable, they may be affected by a variety of variables and changes in underlying assumptions that could cause actual results to differ materially.
The Company does not undertake any obligation and disclaims any duty to update or revise any forwardlooking statements, whether as a result of new information or future events. Neither this document nor the information contained within can construe any investment advice, invitation or an offer to buy or sell the Company and/or Its group companies' shares. The Company cannot guarantee that the securities described in this document constitute a suitable investment for all investors and nothing shall be taken as an inducement to any person to invest in or otherwise deal with any shares of the Company and its group companies. The information contained in this document is published for the assistance of recipients but is not to be relied upon as authoritative or taken in substitution for the exercise of judgment by any recipient. You must not distribute the information in this document to, or cause it to be used by, any person or entity in a place where its distribution or use would be unlawful. Neither the Company, its board of directors, directors, managers, nor any of Its employees shall have any liability whatsoever for any direct or consequential loss arising from any use of this document or its contents.
2
A G E N D A
01.
02.
03.
2022 in Brief
Highlights/
Market Dynamics
Lowlights
04.
05.
ESG Focus
Key Financials
3
4
1H'22 Results
REVENUE
EBITDA MARGIN
vs 1H'21
599
15.3%
MUSD
All Hard-
Currency
92 MUSD
47% ↑ YOY
robust margin
NET INCOME
VOLUME GROWTH
XXX
61
10%
MUSD
~ 22% increase
Strong demand in
tire reinforcement
5
2Q'2022 Snapshot
RESULTS
DRIVERS
Microtex Composites
Tire Reinforcement Demand Growth
PET Investment in Kordsa Turkey
Feedstock Prices
24.6 M€
(Deal Value)
16%
(vs 2Q'21)
9.8 M$
>40% NY
>20% PET
Finalized the purchase of 60% shares for 24,6 M€
Microtex specializes in carbon fiber weaving and prepreg production with focus on super-luxury automotive and motorsports in Europe
Transaction in support of our diversification of industry and products
Strong financial performance contributing to Kordsa composite segment
Volume growth across all regions, putting 2022 results well above 2021.
Growth leaders NA and EMEA, respectively.
Local player position enhanced market position
Strong demand continued in Q2.
Total investment : 9.8 M$
Start up planned in Q3 2024
Additional 7kt/yr PET HMLS yarn capacity for KTR
Elimination of 3rd party yarn purchases, will improve margins of PET TCF
Hiking commodity and energy prices impacted feedstock prices in Q2
In Q3 2022, down-turn on raw material prices have started lead by Asia
Supply security is still an issue due to continuing ocean transport issues
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Kordsa Teknik Tekstil AS published this content on 10 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2022 09:56:08 UTC.
Kordsa Teknik Tekstil AS, formerly Kordsa Global Endustriyel Iplik ve Kord Bezi Sanayi ve Ticaret AS, is a Turkey-based company engaged in the production of industrial nylon and polyester yarn, tire cord fabric and single end cord. It offers carcass and industrial fabrics that are used in the structure of vehicle tires; rubber and plastic materials; denier fiber, and connection fabrics. The Company also produces and markets fabrics for mechanical rubber goods and other rubber reinforcement materials; converts various types of yarns into cord fabrics, and provides nylon six, nylon 6.6 for use in tires and mechanical rubber goods, and polyethylene-terephthalate high modulus low shrinkage polyester, as well as rayon heavy decitex yarns. The Companyâs operations are divided into the following geographic segments: Europe, Middle East and Africa; North America; South America, and Asia. The Company is a subsidiary of Haci Omer Sabanci Holding AS.