Eregli Demir ve Çelik Fabrikalari (EREGL) investor relations material

Executive summary

• Achieved $1.4 billion in revenue and $137 million EBITDA in Q1 2026, with net profit at $9 million.

• Sales and production volumes reached 2.1 million tons in Q1, with full-year sales expected above 8.2 million tons.

• Export volume was 312,000 tons (15% of total sales), with domestic market as the main focus.

• Board of Directors restructured in March 2026, with 9 members elected, including 3 independent members.

• Workforce totaled 12,833 as of March 31, 2026, with comprehensive labor agreements and benefits.

Financial highlights

• EBITDA per ton was $73 in Q1, with full-year guidance of $75-$85 per ton.

• EBITDA margin for Q1 2026 was 10.0%, down from 10.9% in Q4 2025.

• CapEx was $147 million in Q1, with full-year guidance of $600 million.

• Net debt to EBITDA was 1.25x at Q1 end, expected to be around 1.8x for 2026.

• Free cash flow for Q1 2026 was $275 million.

Outlook and guidance

• EBITDA per ton expected to increase in Q2 due to higher sales prices and efficiency gains.

• Dividend distribution of TRY 0.55 per share (TRY 3.85 billion total) from 2025 profits approved, with payments starting June 3, 2026.

• Ongoing investments in modernization, capacity expansion, and environmental projects at both Erdemir and İsdemir plants.

• Sustainability targets include reducing greenhouse gas emissions by 25% by 2030 and 40% by 2040, aiming for net zero by 2050.

• CapEx for 2026 includes investments in solar power, port, cranes, and energy efficiency.