FX appreciation leading substantial net sales growth in 4Q21.. Closing 2021 with satisfying profitability..
Solid sales growth of 69% y/y & 24% q/q, the organic growth was 42% y/y
Pull forward demand was effective starting from November in Turkey mainly due to the anticipation of further rising prices
EBITDA margin of 9.4% (8.1% exc. one-off items) in 4Q21, bringing yearly consolidated margin to 10.6% (10.1% exc. one-off items)
Net Working Capital / Sales was 26.3%, in line with the guidance despite the volatile exchange rates
Leverage was 2.4x. Adding the value of shares bought back as of year-end (0.26x impact) and annualized EBITDA & cash contribution of acquisitions (0.29x impact), the leverage would be 1.86x.
The highest score in Dow Jones Sustainability Index achieved for the third year in a row & Terra Carta Seal
Leverage
4Q21 Financial Results
REACHING THE HIGHEST SCORE IN DJSI THREE YEARS IN A ROW
& AWARDED THE TERRA CARTA SEAL
TOP 3 RANKING
79
86
69
76
74
69
67
66
67
2019
2020
2021
ARCELIK AS
COMPANY A
COMPANY B
ARÇELIK AS - DIMENSIONS
85
94
85
82
79
83
74
68
62
Governance &
Environmental
Social
Economic
2019
2020
2021
Arçelik is one of 45 companies in the world who received HRH The Prince of Wales' Terra Carta Seal in recognition of the company's commitment to creating a sustainable future
The first & only company of its industry across the
world
The first & only company in Turkey
3
4Q21 Financial Results
KEY FACTORS SALES / MARGINS
REVENUE GROWTH
69%
Significant TRY depreciation (q/q & y/y)
Price increases (q/q & y/y)
Inorganic unit growth (y/y)
3,609*
2,793*
15,355
18,909
13,335
TRYm
4Q20
3Q21
4Q21
GROSS MARGIN
28.8%
Higher raw material prices with appreciated EUR & USD (y/y) Lower capacity utilization (y/y)
Strenghtened USD against EUR (y/y)
36.0%
28.2%
28.8%
4Q20
3Q21
4Q21
EBITDA MARGIN
9.4%
271 bps increase in OPEX/Sales ratio (q/q) Declining GP margin due to cost inflation (y/y)
129 bps positive impact from one-off items in 4Q21
14,5%
9,8%
9,4%
4Q20
3Q21
4Q21
*Total inorganic net sales contribution.
4
Operational Performance
4Q21 Financial Results
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Arcelik AS published this content on 26 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 January 2022 16:06:08 UTC.
Arcelik AS is a Turkey-based company, which is engaged in the production, sales and marketing, customer services after sales, exportation and importation of consumer durable goods and consumer electronics. The Group operates more than 17 manufacturing plants in Turkey, Romania, Russia, China, Republic of South Africa, Thailand and Pakistan. It operates under the following business segments: White Goods, Consumer Electronics and Other. The White Goods segment comprises washing machines, dryers, dish washers, refrigerators, ovens, cookers and the services provided for these products. The Consumer Goods segment comprises televisions primarily with flat screens, computers, cash registers, other electronic devices and the services provided to consumers for these products. The Other segment comprises the revenues from air conditioners, home appliances and furniture and kitchen gadgets except products included in White Goods and Consumer Electronics.
ARÇELIK ANONIM SIRKETI 
