Kordsa Teknik Tekstil : YE 2021 Kordsa Earnings Presentation
February 23, 2022 at 08:09 am
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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.
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.
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.
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.