Kordsa.com

Earnings Release

Feb 22, 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.

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2

A G E N D A

01.

02.

03.

2021 in Brief

Highlights/

Market Dynamics

Lowlights

04.

05.

ESG Focus

Key Financials

3

4

REVENUE

EBITDA MARGIN

888

15.4%

MUSD

All Hard-

Currency

137 MUSD

37% ↑ YOY

robust margin

NET INCOME

VOLUME GROWTH

FCF

96

30%

211

MUSD

MTL

~ 5 fold increase

Strong demand in

Improvement in WC

tire reinforcement

28.5 M$ investment

5

4Q'2021 Snapshot

RESULTS

USD-Based Revenue

31.4%

Growth

(vs 4Q'20)

Tire Reinforcement

2.5%

Demand Growth

(vs 4Q'20)

EBITDA Margin

13.2%

Net Income

26 M$

DRIVERS

  • 2.5% volume growth
  • Revenue increase back of raw material prices (40% NY; 25% PET)
  • Construction revenue doubled (2.0M$)
  • 3M$ revenue growth in composite segment
  • Demand growth not shadowed by automotive industry issues
  • Volume growth in EMEA and APAC, putting 2021 results well above 2020 and 2019.
  • Lower EBITDA margin compared to the first three quarter of 2021 and the last quarter of 2020.
  • Sharp commodity price increases to be reflected in next quarter
  • Increases on freight costs of raw material and bargaining power of supplier
  • Highest quarterly net income of all times
  • Nearly 6M$ from K-TR revaluation of assets

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Kordsa Teknik Tekstil AS published this content on 23 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 February 2022 08:08:04 UTC.