ÇİMSA ÇİMENTO SANAYİ VE TİCARET A.Ş.

Earnings Release • Aug 5, 2025

Çimsa Çimento

Q2 2025 Financial Results

Bulletin

5 August 2025

Çimsa continues to deliver real growth in 2Q25: Net sales soar 40% y/y to TRY 10.9 billion with EBITDA strengthens to TRY 2 billion.

According to the announcement made by the Public Oversight, Accounting and Auditing Standards Authority (KGK) on November 23, 2023, and the publication of 'Practice Guide on Financial Reporting in Hyperinflationary Economies', Çimsa prepared its financial statements for June 30, 2025, applying the TAS 29 Financial Reporting in Hyperinflationary Economies' Standard. The comparative amounts in the aforementioned financial statements and previous periods have been adjusted for the changes in the purchasing power of the Turkish Lira in accordance with TAS 29, and ultimately expressed in terms of the purchasing power of the Turkish Lira as of June 30, 2025.

All the information regarding Q2 2025 and comparative periods include business combination effects and inflation accounting effects.

DISCLAIMER

The information and opinions contained in this document have been obtained from sources believed to be reliable and in good faith by Çimsa Çimento A.Ş ("the Company"). However, no express or implied statement or warranty is provided concerning the accuracy or completeness of this information and opinions.

This document should be evaluated in conjunction with the consolidated financial statements available on the Çimsa Çimento A.Ş Investor Relations website and the Public Disclosure Platform (KAP).

Developments on Financials and Operations:

• According to sectoral data released by TCMA, cement consumption in Türkiye increased by 2.0% y/y in 5M25. Meanwhile, based on data from the Central Anatolia Exporters Association, Türkiye's cement and clinker exports grew by 16.4% y/y in the first half of 2025.
• Çimsa maintained high capacity utilization in 2Q25 and significantly increased its consolidated sales volumes by 46.6% y/y, supported by 24.1% volume growth in Türkiye and 76.7% volume growth in international markets including Mannok. Excluding Mannok's sales volumes, consolidated sales volumes were up by 32.1% y/y, organically.
• Çimsa achieved a 40% y/y increase in consolidated net sales in 2Q25, reaching TRY 10.9 billion, supported by solid organic volume growth and the contribution from Mannok. However, the full potential of top-line growth was partially offset by the Turkish Lira's depreciation trailing inflation, which limited the positive impact of exports and international operations.
• Çimsa delivered a consolidated EBITDA of TRY 2.0 billion in 2Q25, marking a 5% y/y increase. While this growth reflects operational resilience, the EBITDA margin declined by 6.1 pp to 18.6%, impacted by last year's exceptionally high base and higher input costs.
• Çimsa's net financial expenses were TRY 175 million higher in 2Q25 compared to a year ago, as a result of increased net debt to finance the Mannok acquisition.
• Çimsa reported a consolidated net profit of TRY 834 million in 2Q25. Annual decrease in net income was primarily attributable to higher net financial expenses, lower contribution of monetary gain and Sabancı Holding shares. The contribution of Sabancı Holding shares' price movement were TRY 103 million in 2Q25 vs TRY 355 million a year ago.
• As of June 2025, consolidated net debt stood at TRY 19,648 million and the leverage ratio was 2.85x. Increased leverage compared to 2.69x as of March, 2025 was a result of increased net debt level which was impacted mainly by TRY depreciation during 2Q25 and ongoing America grinding & Mersin CAC plant investments .

DISCLAIMER

The information and opinions contained in this document have been obtained from sources believed to be reliable and in good faith by Çimsa Çimento A.Ş ("the Company"). However, no express or implied statement or warranty is provided concerning the accuracy or completeness of this information and opinions.

This document should be evaluated in conjunction with the consolidated financial statements available on the Çimsa Çimento A.Ş Investor Relations website and the Public Disclosure Platform (KAP).

Summary of Financial Results - Restated due to Inflation Accounting

Çimsa Çimento Financial Results	2 Q 2025	2 Q 2024	6 M 2025	6 M 2024	Change 2Q%	Change 6M%
Revenue	10,895	7,782	20,335	15,576	40%	31%
Gross Profit (MTL) Gross Profit %	2,297 21%	2,202 28%	3,754 18%	3,239 21%	4 % -7.21pp	16% -2.34pp
Operating Profit (MTL) (excluding other income /expenses) Operating Profit (%)	1,223 11%	1,519 20%	1,587 8 %	1,801 12%	-19% -8.30pp	-12% -3.76pp
Operating Profit (MTL) (including other income /expenses) Operating Profit (%)	1,204 11%	1,545 20%	1,921 9 %	2,072 13%	-22% -8.80pp	-7% -3.86pp
Depreciation (MTL)	806	408	1,602	973	98%	65%
EBITDA (MTL) (excluding other income /expenses) EBITDA %	2,028 19%	1,927 25%	3,189 16%	2,774 18%	5 % -6.14pp	15% -2.13pp
EBITDA (MTL) (including other income /expenses) EBITDA %	2,010 18%	1,953 25%	3,522 17%	3,045 20%	3 % -6.65pp	16% -2.23pp
Income from Investing Activities (MTL)	99	488	(517)	856	-80%	-160%
Net Profit (MTL) Net Profit %	834 8 %	2,014 26%	1,200 6 %	2,595 17%	-59%	-54% -18.23pp -10.76pp

DISCLAIMER

The information and opinions contained in this document have been obtained from sources believed to be reliable and in good faith by Çimsa Çimento A.Ş ("the Company"). However, no express or implied statement or warranty is provided concerning the accuracy or completeness of this information and opinions.

This document should be evaluated in conjunction with the consolidated financial statements available on the Çimsa Çimento A.Ş Investor Relations website and the Public Disclosure Platform (KAP).