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External Disclaimer The information and opinions contained in this - - PowerPoint PPT Presentation
External Disclaimer The information and opinions contained in this document The Company does not undertake any obligation, and have been compiled by KORDSA Teknik Tekstil Anonim disclaims any duty to update or revise any forward irketi (the
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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
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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
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information and estimates contained in this document constitute the Company’s current judgment and are subject to change, update, amend, supplement or
- therwise 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 forward looking 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
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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
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by any recipient. You must not distribute the information in this document to, or cause it to be used by, any person
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Global Footprint
Reinforcing 1 1 out of ever ery 3 3 automobi bile tire e as well as 2 2 out of ever ery 3 3 aircraft ft tires es globally
4 continents 12 facilities
4,500+
employees
2 R&D
Centers
786
patent application
185
patents
187
inventions 3
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Kordsa in Brief
Target Markets Tire Reinforcement Technologies Composite Technologies
- Strategic supplier of all prominent tire makers
- Global #1 in NY66 TCF
- Global #3 in PET TCF
- Pioneer in open innovation: Composite Technologies
Center of Excellence
- Carbon fiber, aramid, hybrid fabrics, and pre-pregs, high
value added thermoplastic and thermoset resins
- Strategic supplier of aerospace industry with the recent
acquisitions.
Construction Reinforcement Tech.
- With Kratos in construction reinforcement Kordsa
- ffers;
- High load carrying capacity
- Long-lasting durability
- Prevention of crack formation
- Ease in application and money saver
- Product range: Polypropylene monafilament
investment in 2018
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Financial Overview
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Asia 26% EMEA 30% NA 33% SA 11% By Region 1H 2019 Revenue Split By Product Tire Reinforcement 83.7% Composite 12.7% Other 3.6%
TL million US USD mi million 201 2018 1H 1H 201 2019 1H 1H 201 2018 1H 1H 201 2019 1H 1H
Sale les 1, 1,538 538 2, 2,586 586 377 377 461 461 EBI BITDA 263 263 407 407 64 64 73 73 EBI BITDA Margin in 17. 17.1% 1% 15. 15.8% 8% 17. 17.1% 1% 15. 15.8% 8%
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Milestones
2017 2019 2018 2016 2015 2014 2008
Kordsa Growth in Asia; Indonesia, Thailand, China Start up of Indonesia expansion Best R&D Center Sustainability Report received 2 Gold Awards from LACP Brazil GPTW 4 years in a row 100 Fastest- Growing Companies in Indonesia Second R&D Center @Composite Technology Center of Excellence AS9100 RevD Certified Merging Acqusitions Global Technology Center in Izmit
2006 2005
Member of the TURQUALITY Global Brand Programme
1973
Commercialisation
- f Kratos
Innovation Strategy Champion Composite Technology Center of Excellence Fortune Global 100 The Reinforcer Acquisition of Fabric Development, Textile Products and Advanced Honeycomb Technologies Acquisition of Axiom Materials
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- Product and Service Quality
Leadership SHE
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Strategy House
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2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Inventions Patent Applications Patents Granted
Patent Growth
Potential to create value by licencing technology
187
INVENTIONS
786
TOTAL APPLIED
185
GRANTED
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Technology Leadership
Av e ra ge R & D ex p e n d i t u re p e r ye a r a p px . U S D 1 0 - 1 2 m ( i n c l u d i n g c a p i t a l i ze d R & D )
Strong focus on R&D Cutting edge new products Selected collaborations * Leadership in Innovation and Technology
Rolling resistance improvements through higher modulus for
high performance tires
Protection layer for truck & bus tires; reduces tire weight 7% higher tenacity and better fatigue performance for aircraft
tires (bias)
10% higher dimensional stability for better tire performance
(improved labeling)
T802 4G PET
- Best performed R&D center award of the year 2014 in all
industries.
- R&D Center ranked best in textile category for the last 6 years
by the Turkish Ministry of Science, Industry and Technology
- Innovation Strategy Champion Turkish Exporters
Assembly/InovaLeague
- Among the national top 6 institutions of R&D patent
registration in Turkey.
Top 6 1 1
* includes both, universities as well as individual academics from the names institutions
- In 2018, sales revenue of new products totaled USD 64 million.
- The R&D center in Izmit develops new products, processes and technologies in the tire
and construction reinforcement technologies.
- The R&D Center at Composite Technologies Center of Excellence develops innovative
composite technologies for the aerospace, defense and automotive industry. 9
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Over view of Tire Reinforcement Value Chain
NY66 yarn PET yarn
A tire is a highly complex composite with c.40 components working under dynamic conditions NY66 typically used in cap plies; PET typically used in radial plies
Spinning Twisting Dipping
Yarn
Weaving
Polymerisation
Greige Fabric
YARN
PRODUCTS
NY66 HMD Adipic Acid NY66 Flake HMLS PET PET Chip
MANUFACTURING RAW MATERIALS
Kordsa products
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Tire Reinforcement Technologies
Main use Kordsa Kordsa strategic initiatives
NY66 tire cord
- Cap ply in radial tires
PET tire cord Hybrids / other cords
- Radial tire reinforcement
- All tire types
- Global #1 producer
- Global #1 provider of aircraft tire textiles
- Global #2
- Leadership position in value-add segments
- Market and technology leader with key
brands Capmax, Twixtra and Monolyx, Green TCF
- Grow in technologically more advanced
tire segments
- Maintain competitive global footprint
- Capacity expansion in Indonesia and Turkey
- Further investments in technology
leadership and production process
- Next generation PET yarns
- Introduction of three key brands
- Sub-licencing business models
- Industry co-operations
Source: Arthur D. Little strategy report (2013)
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External Composite Parts
Raw materials Intermediates
Kordsa fabrics and prepregs offer cutting edge solutions for aerospace & automotive markets
Precursors & Fibe bers:
- PAN Precursor
- Carbon Fiber
- Aramide
- Glass Fiber
Resins ins:
- Phenolic
- Epoxy
- Cyanate ester
Twisting
- Composites use in aerospace & automotive is increasing, due to improved material properties
and weight savings over conventional materials
- «Lightweighting» is a major theme, driven by emission regulations as well as fuel-efficiency
needs
Weaving Prepreg
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Overview of Composite Value Chain
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Composite Technologies
Mid-term opportunity
- Composite Technologies Center of Excellence (CTCE) opened in 2016 (~30 MM$
investment)
- Manufacturing facility at the CTCE is certified AS9100 - quality and risk management in
aerospace and defense industry
- Ongoing development programs & joint projects with aerospace & automotive
customers aas well as major universities in both Turkey and Europe.
- With the acqusitions in the US, became strategic supplier of aerospace industry.
- Our target markets are Aerospace, Automotive and Rail Systems
Current status Buy & Build
- Acquisition of FDI & TPI in the US
- A leading supplier of advanced composite fabrics for the commercial aviation
industry
- Only supplier in lightning strike fabrics
- Acquisition of Advanced Honeycomb Technologies in the US
- Manufactures a wide range of nomex honeycomb core for aerospace
- Acquisition of Axiom Materials in the US
- Only worldwide qualified manufacturer of Oxide-Oxide ceramic matrix
composites.
- Actively considering organic and inorganic growth options
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Construction Reinforcement Technologies
Projects
- KraTos Macro & Micro Synthetic Fibers are approved and applied in over 50 significant superstructure, industrial and infrastructure reference
projects.
- Non-conductivity concrete reinforcement applications with KraTos Synthetic Fiber Reinforcements are approved in significant government-funded
infrastructure projects.
- "KraTos CEM: Bagged Cement With Pre-Dosed KraTos Micro Fiber Reinforcement" projects development studies continue.
- Given the technical and test equipment capabilities at Kordsa İzmit, R&D Concrete Lab; "Technical Project Report Services" are available for
infrastructure projects. 3rd Bosphorus Bridge Toll Booths and Electronic Pass Areas (Non-Conductivity Concrete Reinforcement) KraTos Macro Reinforcement Samsun 2nd and 3rd Stage Light Railway Track Slab (Non- Conductivity Concrete Reinforcement) KraTos Macro Reinforcement Asyaport Tekirdağ Port KraTos Macro Reinforcement
Current Status External
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Sustainability Performance in 2018
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Corporate Profile Sustainability Profile
Social Economic
Environmental
11 Production Plants 5 Countries 4,195 Employees 45 Years 200,401 Training Hours USD 1.82 million Savings from Reuse of Materials USD 789, 900 Value of Our Environmental Investments 0 Fatal Occupational Accidents and Diseases 3.04 million Number of Reused Paper Tubes Environmental Investments
76% Training, 9% Waste Disposal 7% Waste Recycling, 7% Consultancy 1% Emissions Management
37% Women, 63% Men
(White-Collar Employees)
Regional Revenue Split
EMEA 35% North America 24% Asia Pasific 29% South America 12%
88.8% Operating Profit Growth 35.6 Avarage Number of Training Hours of Our Employees TL 3,947 million Turnover Click here to reach Sustainability Reports.
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