KOÇ HOLDING KOÇ HOLDING
TURKEY'S LEADING
INVESTMENT HOLDING COMPANY
Koç Holding at a Glance
Stable & Supportive Shareholding Structure
Family | Koç Family2 |
20.05% | |
Danışmanlık1 | |
43.75% | |
Free Float3 | |
26.59% | |
Vehbi Koç | |
Foundation | Koç Pension Fund |
7.26% | 2.35% |
~65% | 1/3 | ||
Share of Foreign | Independent Board | ||
Investors in Free Float | Members | ||
1/3 | 1/3 | ||
Women Board | International Board | ||
Members | Members | ||
Koç Family has its own internal governance and investment vehicle which provides stability in shareholder structure (Family Danışmanlık)
Majority of Koç Family's business ventures are via Koç Group
Koç Family mainly assumes board-level responsibility
- As of 31 December 2023, total voting rights including A (2 voting rights) and B (1 voting right) shares is 55.62%. A shares do not have any other privileges ² Includes personal holdings of 18.65% stake and 1.4% stake of RMK ve Mahdumları
³ Koç Holding initiated its first Share Buyback Program in July 2021. Total buyback is ~890K shares (equivalent to around 0.035% of capital) since initiation of the programme.
Corporate Presentation
2
Koç Holding at a Glance
Turkey's Leading Investment Holding Company
Turkey's largest industrial and services group
Sustainability oriented business model focusing on profitable growth
Leading positions with clear competitive advantages in sectors with long-term growth potential such as energy, automotive,
consumer durables & finance
~8%
Combined Revenues/
GDP
~22%
Koç Group's Mcap/
Borsa Istanbul 100 Index
~7% | ~7% | ||
Total Exports/ | R&D expenditure/ | ||
Turkey's Exports | Total private sector R&Ds1 | ||
Fortune | |||
Global 500 | ~$11.2bn | ||
Only company from | Combined investments in | ||
Turkey2 | the last five years3 | ||
Data as of 2023YE, unless otherwise stated
- Based on TurkStat 2022 R&D data
- 2023 report (based on 2022 consolidated revenues)
³ Between 2018-23, investments in nominal terms (not adjusted for inflation accounting)
Corporate Presentation
3
Koç Holding at a Glance
Well Positioned to Benefit from Turkey's Growth Potential
Largest industrial | Largest exporters | Largest intellectual | ||||
& services group | within portfolio | property rights portfolio3 | ||||
4 of the Top 10 | 3 of the Top 10 | >7,600 trademarks | ||||
Industrial Enterprises1 | Exporters2 | >2,600 patent families | ||||
1 | 2 | >5,200 patents | ||||
>1,000 industrial design | ||||||
3 | 3 | registrations | ||||
>5,000 Internet domain | ||||||
8 | 8 | names | ||||
10 |
Largest distribution network
~780 bank branches
>10,000 dealers & after-sales services
CRM data to analyze customer behavior to track early warning indicators and capitalize on various trends
-
Istanbul Chamber of Industry, 2023 report ² Turkish Exporters' Assembly, 2023 report. 4 of the top 10 companies exporting goods: Ford Otosan ranks 1st, Tüpraş ranks 2nd, Arçelik ranks 7th, Tofaş ranks 9th.
³ Turkish patent institute and company data
Corporate Presentation
4
Koç Holding at a Glance
A True Global Player
Exports to
>155
countries
50%
International & FX linked revenues1 /
Total revenues
>95
Production facilities and sales & marketing companies abroad
Operations with | ||
~42 | >28K | |
different currencies | Employees abroad2 | |
Data as of 2023YE, unless otherwise stated
-
Excluding FX linked revenues of Tüpraş refinery, International revenues/Total revenues = ~29%, as of 31 December 2023.
² Total number of employees = ~119K
Corporate Presentation
5
Strategic Overview
Operations in Lucrative Businesses with Strategic Alliances
Energy | Automotive | Consumer | Finance | |||||||||
Durables | ||||||||||||
Main Companies | Main Companies | Main Companies | Main Companies |
International Alliances | International Alliances |
in air conditioners
Listed Companies - Automotive: Ford Otosan, Tofaş, TürkTraktör, Otokar; Consumer Durables: Arçelik; Energy: Tüpraş, Aygaz; Finance: Yapı Kredi; Other: Marmaris Altınyunus
Other
Main Companies
Tourism
DIY Retail Duty Free
Marinas
Motor Prod. | IT |
Procurement Fintech
6
Corporate Presentation
Strategic Overview
Strong Domestic Positioning of Leading Brands
Energy
Largest refining capacity in Turkey
LPG1st Distribution
Petroleum
Product 3rd
Distribution
Automotive
Total1st Automotive
Commercial 1st Vehicles
Passenger 1st Cars
Tractors 1st
Buses | 1st |
Auto. Retailing |
Car Rental&Leasing
Consumer
Durables
White1st Goods
Air
Conditioners 1st
Finance
Asset Size | 4th |
among | |
private banks | |
Number of | 1st |
Credit Cards | |
Consumer | 2nd |
Finance |
Other
DIY
Retailing 1st
Marinas 1st
Ranking as of 2023YE, unless otherwise stated
7
Corporate Presentation
Strategic Overview
Balanced Portfolio Structure Ensures Long-Term Value Creation…
Defensive Assets | Growth Assets |
Aygaz | Arçelik | Marinas |
Ford Otosan | Divan | Otokoç |
Otokar | Düzey | Opet |
Tofaş | Entek | Setur |
Tüpraş | Koçfinans | Yapı Kredi |
TürkTraktör | KoçSistem |
High dividend | High growth |
>60% payout | >1.5x the GDP growth |
Listed company
Energy
Automotive
Consumer Durables
Finance
Other
Corporate Presentation
8
Strategic Overview
…Sectoral Diversification Delivers Resilience to Alleviate Cyclicality…
Net Asset Value Breakdown by Sector1
Auto
(PC & CV Manufacturing)Auto
26%(Other)
14%
Finance | Refining | |
17% | ||
18% | ||
Oil & Gas | ||
Other assets & | ConsumerDistribution | |
Cash inc. YKB AT1 | Durables | 3% |
14% | 7% |
Key Strengths | Key Risks & Sensitivities | |||
Automotive | ✓ Domestic growth potential | • | Demand in Turkey and Europe | |
✓ | Secured export contracts | |||
PC & CV Manufacturing | • | |||
✓ Strong positioning in JV universe | Main drivers: GDP & interest rates | |||
Automotive | ✓ Leading positions & brand names | • | Agricultural sector trends | |
✓ Strong R&D | ||||
Other | • | |||
✓ Wide distribution networks | Demand by the defense industry | |||
✓ Demand insensitive to GDP | • | Regional crack spreads | ||
Refining | ✓ Turkey's diesel deficit | i.e.commodity prices | ||
✓ FX and oil-price-linked pricing mechanism | • | Crude differentials | ||
✓ | Low sensitivity to GDP | • | Oil & LPG prices | |
Oil & Gas Distribution | • | Regulations | ||
✓ | Growing auto gas market | |||
• Limited growth in cylinder market | ||||
✓ Geographic diversification | • Turkey and global demand | |||
Consumer Durables | ✓ Low-cost manufacturing | |||
• | ||||
✓ Dynamic investment approach | Main driver: GDP | |||
Finance | ✓ Growth potential | • | Domestic credit & interest rate risk | |
✓ | Leading position in digital | • | Regulation | |
✓ Leading positions | ||||
Other2 | ✓ Turnaround potential | • | Macro risks | |
✓ Inorganic growth opportunities |
1 NAV based on company calculation. ~90% of NAV comes from listed assets (31 December 2023 Mcap of each, weighted with effective ownership). Other assets includes net cash including YKB AT1 and other assets.
Corporate Presentation
9
Strategic Overview
…Geographical Diversification Supports Sustainable Revenue Generation
International Revenues / Total Combined Revenues
29% | 29% | 50% |
including FX linked revenues of Tüpraş
2022 | 2023 |
Share of international revenues in total revenues of the largest contributors1
73% | 20% | 63% | ||
Ford | Tofaş | Arçelik | ||
Otosan |
1 Data as of 2023 year-end.
Regional Breakdown of International Combined Revenues1
USD 1.0bn | USD 19.3bn | USD 2.9bn | |||||||||||||||||||||||||||||||
4% | 76% | ||||||||||||||||||||||||||||||||
12% | |||||||||||||||||||||||||||||||||
USD 1.7bn
7%
USD 0.1bn | |
1% | USD 0.3bn |
1%
10
Corporate Presentation
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Koç Holding AS published this content on 04 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 April 2024 13:44:08 UTC.
