土耳其家電公司阿奇立克Arcelik市場前景及投資研究報(bào)告-培訓(xùn)課件外文版2024.6

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PRODUCTSArcelikCHAPTER

01OverviewRevenueofhomeandhouseholdappliancesworldwidefrom2018to2028,bycategory(intrillionU.S.dollars)Globalhouseholdappliancesrevenue2018-2028,bycategoryMajorAppliancesSmallAppliances0.90.80.70.60.50.40.30.20.10.00.310.290.280.270.250.240.240.230.220.20.20.50.480.460.440.420.40.380.380.350.330.34201820192020202120222023202420252026202720283Description:Overthelasttwoobservations,therevenueisforecasttosignificantlyincreaseinallsegments.Aspartofthepositivetrend,theindicatorachievesthemaximumvalueacrossalltwodifferentsegmentsbytheendofthecomparisonperiod.Notably,thesegmentMajorAppliancesstandsoutwiththehighestvalueof0.5trillionU.S.dollars.ReadmoreNote(s):Worldwide;2018to2028Source(s):ConsumerInsightsRevenueofmajorhouseholdappliancesworldwidefrom2018to2028,bycategory(inbillionU.S.dollars)Globalmajorhouseholdappliancesrevenue2018-2028,bycategoryCookers&OvensRefrigeratorsAirConditionersWashingMachinesDishwashingMachinesFreezers600500400300200100020.7120.0230.331.4678.5519.3418.6829.1872.8218.0628.0870.0517.6475.6527.0667.3817.217.6726.2565.3725.4963.2625.517.0215.9186.3615.6224.2759.3422.9356.4981.221.963.6876.2371.82125.567.3255.9662.853.4556.8147.352.11141.3549.68135.93130.69120.57116.98112.45113.26105.9499.2597.48141.862028127.962026134.782027115.112024121.332025104.922021105.712022110.44202396.96202086.47201889.5420194Description:Therevenueisforecasttoexperiencesignificantgrowthinallsegmentsin2028.Aspartofthepositivetrend,theindicatorreachesthemaximumvalueforallsixdifferentsegmentsattheendofthecomparisonperiod.ParticularlynoteworthyisthesegmentCookers&Ovens,whichhasthehighestvalueof141.86billionU.S.dollars.ReadmoreNote(s):Worldwide;2018to2028Source(s):ConsumerInsightsYearlychangeincorehouseholdappliancesshipmentsintheUnitedStatesandEuropefrom2018to2023YoYchangeinmajorhouseholdappliancesshipmentsintheU.S.andEurope2018-2023Coreappliances-WesternEuropeCoreappliances-UnitedStatesCoreappliances-EasternEurope*Microwaveovensandhome-comfort-products-UnitedStates20%15%10%5%0%-5%-10%-15%2018201920202021202220235Description:Despiteasteadygrowthrateofcorehouseholdappliancesshipmentsin2020and2021,therateofshipmentssince2022hasdeclineddramatically,stretchinginto2023.Thisappliestoallmajorhouseholdappliancemarkets,whetherinWesternEurope,EasternEurope,ortheUnitedStates.Thelargestgrowthwasthejumpinmicrowaveovensandhome-comfortproductsintheU.S.between2020and2021,witha15percentincreaseinshipments.

ReadmoreNote(s):Europe,UnitedStates;2017to2023;*FiguresfromTurkeyareexcluded.FiguresfromRussiasinceQ32022.Coreappliancesinclude:Refrigerators,freezers,washingmachines,tumbledryers,free-standingcookers,built-inovens,built-in[...]

ReadmoreSource(s):AHAM;ElectroluxChangeincorehouseholdappliancesshipmentsintheUnitedStatesandEuropefrom2020to2023,byquarter*QuarterlychangeinhouseholdappliancesshipmentsintheU.S.andEurope2020-2023Coreappliances-WesternEuropeCoreappliances-UnitedStatesCoreappliances-EasternEurope**Microwaveovensandhome-comfort-products-UnitedStates40%30%20%10%0%-10%-20%-30%Q1'20Q2'20Q3'20Q4'20Q1'21Q2'21Q3'21Q4'21Q1'22Q2'22Q3'22Q4'22Q1'23Q2'23Q3'23Q4'236Description:Shipmentsofcorehouseholdappliancesdeclinedinthelatterquartersof2021and2022comparedtotheearlyrecoveryinthefirsthalfof2021.Thedecliningtrendofshipmentshaspersistedoverthefirsttwoquartersof2023acrossallsegmentsexceptforthecoreappliancesmarketintheUnitedStates.ASofthethirdquarterof2023,householdapplianceshipmentsintheU.S.sawanincreaseacrossbothcoreappliancesandthemicrowaveovensandhome-comfortproductssegment.[...]

ReadmoreNote(s):Europe,UnitedStates;2020to2023;*Coreappliancesinclude:Refrigerators,freezers,washingmachines,tumbledryers,free-standingcookers,built-inovens,built-inhobs,hoods,anddishwashers.**FiguresexcludeTurkey.Figures[...]

ReadmoreSource(s):AHAM;ElectroluxLargestcompaniesinTurkeyin2023,byprofit(inmillionU.S.dollars)LargestcompaniesinTurkey2023,byprofitProfitinmillionU.S.dollars05001,0001,5002,0002,5003,0003,5004,0004,5004,4805,000Ko?HoldingTurkishAirlinesSabanciHoldingIsbank2,7902,6401,810Akbank1,3601,190FordOtosanSasaPolyesterSanayiVakifbank638.1607.5Halkbank2807Description:Asof2023,Ko?HoldingwasthelargestcompanyinTurkeybasedonprofits,valuedat4.48billionU.S.dollars.TurkishAirlinesfollowedassecondonthelist,reachingaprofitofalmost2.8billionU.S.dollarsinthesameyear.Additionally,SabanciHoldingrankedthird,obtaining2.64billionU.S.dollarsinprofit.ReadmoreNote(s):Turkey;2023Source(s):ForbesMostvaluableTurkishbrandsin2023,bybrandvalue(inmillionU.S.dollars)MostvaluableTurkishbrands2023BrandvalueinmillionU.S.dollars1,00005001,5002,0002,500TurkishAirlinesAr?elik2,0001,500Vestel927GarantiBBVA767736??bankBIM589560543532490ZiraatBankas?FordOtosanTurkcellAkbankLCWaikikiYap?KrediMigros4864863458Description:ThisstatisticdisplaysarankingofthemostvaluableTurkishbrandsin2023,sortedbybrandvalue.WithabrandvalueoftwobillionU.S.dollars,thecountry’sflagcarrierTurkishAirlinesistheleadingTurkishbrandasof2023.RankingjustbehindTurkishAirlinesisArcelik,withavalueof1.5billionU.S.dollars.ReadmoreNote(s):Turkey;2023Source(s):BrandFinanceCHAPTER

02FinancialsRevenueofArcelikworldwidefrom2015to2023(inbillioneuros)RevenueofArcelikworldwide2015-20238.58.087.717.57.06.56.05.55.04.54.06.515.095.065.034.824.764.6920152016201720182019202020212022202310Description:In2022,thetotalrevenuegeneratedbytheTurkey-basedhomeappliancemanufacturerArcelikpeakedatarecordhighofaround7.7billioneuros,registeringoverabillioneuroincreasecomparedtothepreviousyear.Thecompany'sgeneratedanotherrecordofeightbillioneurosinrevenuein2023.Arcelik’srevenuehassteadilyincreasedsince2015exceptforabriefdipin2018,withanespeciallytremendousgrowthreportedin2021and2022.Nonetheless,Arcelik’snetprofithasbeen[...]

ReadmoreNote(s):Worldwide;2015to2023Source(s):Ar?elikRevenueofArcelikworldwidefrom2014to2023,byregion(inmillioneuros)RevenueofArcelikworldwide2014-2023,byregionEuropeTurkeyAsiaPacificAfricaOther14,00012,00010,0008,000727.1708.42,341.7387.9373.23,909.11,113.46,000193.62,951.9317182.8249.4239.2237.74,000147.4472.1388.4289663.73451,549.6352.4212.11,551.32,124.120201,264.31,373.35,198202.3146.2157.3166.22,00001,219.2112.3159.6967.83,066.72023*859727.8878.12,260.92019*1,991.52018*1,990.32021*1,343.5963.31,079.12014*2015*2016*2017*2022*11Description:In2023,EuropestoodoutasArcelik'slargestmarket,generatingoverthreebillioneurosintheregionthatyear.Thisrepresentsaasharpdecreaseofovertwobillioneuroscomparedtothepreviousyear,whichispartiallyattributabletothedropinvalueoftheTurkishLiracomparedtothepreviousyear.Meanwhile,thecompany'shomemarketofTurkeygeneratedjustshyofthreebillioneurosinrevenuein2023.Overall,theTurkishappliancemanufacturersawitsregionalrevenues[...]

ReadmoreNote(s):Worldwide;2014to2023;*FiguresforeachyearhavebeenconvertedfromTurkishLiratoEurosusingtheexchangerateonDecember31stofthatrespectiveyear.Figuresfor2023wereconvertedatanexchangerateof1TRY-0.0307[...]

ReadmoreSource(s):Ar?elikRevenueofArcelikworldwidefrom2014to2023,bysegment(inmillioneuros)RevenueofArcelikworldwide2014-2023,bysegmentWhiteGoodsConsumerElectronicsOther14,00012,00010,0008,0001,856.06875.411,258.88580.986,00010,152.85632.5586.2627.34,000487.8516.3496.8368.5421.16,053.232023*429.1409.1372.72,0000285.3315.53,672.9242.52953,4133,508.4274.43,099.92,289.21,727.21,545.51,360.92014*2015*2016*2017*2018*2019*2020*2021*2022*12Description:Despiteabriefdeclinein2021revenue,therevenueofArcelik'swhitegoodssegmentincreaseddramaticallyin2022tosome10.2billioneuros,representingthehighestrevenuereportedbythecompanyforitswhitegoodssegmentsince2014.By2023l,thesegment'srevenuereachedsixbillioneuros.Whitegoodsrefertolargehouseholdappliancessuchasrefrigerators,washingmachines,anddishwashers.ArcelikisaprominentTurkishmultinationalhouseholdappliancesmanufacturer[...]

ReadmoreNote(s):Worldwide;2014to2023;*FiguresforeachyearhavebeenconvertedfromTurkishLiratoEurosusingtheexchangerateonDecember31stofthatrespectiveyear.Figuresfor2023wereconvertedatanexchangerateof1TRY-0.03EUR[...]

ReadmoreSource(s):Ar?elikNetprofitofArcelikworldwidefrom2015to2023(inmillioneuros)NetprofitofArcelikworldwide2015-202345039040035030025020015010035935031129625320515115020152016201720182019202020212022202313Description:In2023,Arcelikreportedanetprofit230millioneuro,adecreaseofnearly100millioneuroscomparedtothepreviousyear.ThisispartiallyduetoadropinthevalueoftheTurkishLira.TheTurkishappliancemanufacturergenerateditshighest-evernetprofitin2020with359euros,afteraperiodofdecliningprofitsin2019and2018.ReadmoreNote(s):Worldwide;2016to2023;*FigureshavebeenconvertedfromTurkishLiratoEurosusingtheexchangerateonDecember31stofthatrespectiveyear.Figuresfor2023wereconvertedatanexchangerateof1TRY-0.03EUR(Dec.31,2023).

ReadmoreSource(s):Ar?elikManufacturinglocationsofArcelikworldwidein2023,bycountryManufacturinglocationsofArcelikworldwide2023,bycountryNumberofmanufacturinglocations024681012141416TurkeyRussia333ThailandPakistanSouthAfricaBangladeshRomaniaChina22211India14Description:TheTurkishappliancemakerArcelikoperatedmanufacturingsitesin31locationsacrossninecountriesworldwidein2023.MostofArcelik'smanufacturingsiteswerelocatedinTurkey,thecompany'shomemarket.ItistheonlycountrywhereArcelikhasadouble-digitnumberofmanufacturingsites.OthercountrieswhereArcelikhasatleastthreemanufacturingsitesareRussia,Thailand,andPakistan.ArcelikalsohadproductionfacilitiesinChina,India,andSouthAfrica.ReadmoreNote(s):Worldwide;2023Source(s):Ar?elikCHAPTER

03CompetitorsSelectedleadinghomeappliancesmanufacturersworldwiderankedbyrevenuein2022(inbillionU.S.dollars)Majorhome&householdappliancesmanufacturersworldwiderankedbyrevenue2022RevenueinbillionU.S.dollars10

15052025303535.1240HaierSmartHome(China)LGElectronics(SouthKorea)WhirlpoolCorporation(UnitedStates)MideaGroup(China)23.6219.2718.1517.02BSHHomeAppliancesGroup(Germany)Electrolux(Sweden)12.94GroupeSEB(France)8.528.25Ar?elik(Turkey)Miele(Germany)5.8116Description:In2022,sixhouseholdappliancesmanufacturersworldwidesurpassed10billionU.S.dollarsinrevenuewithHaierSmartHomeleadingtherankingwitharound35billionU.S.dollars.Theothercompanieswithannualrevenuesnorthof10billionU.S.dollarsareLG,Whirlpool,Midea,BSHHomeAppliances,andElectrolux.ReadmoreNote(s):Worldwide;2022;DatawascompiledfromcompanyfinancialreportsSource(s):Ar?elik;BSH;Electrolux;GroupeSEB;Haier;LGElectronics;Midea;Miele&Cie.;WhirlpoolCorporationSalesoftheleadinghouseholdappliancecompaniesworldwidein2023(inbillionU.S.dollars)Salesoftheleadinghouseholdappliancecompaniesworldwide2023SalesinbillionU.S.dollars20

30010405060MideaGroupCo.Ltd.HaierSmartHomeGreeElectricAppliancesWhirlpool52.9936.1320.1319.45SEBSA10.8417Description:In2023,MideaGroupCo.Ltd.wasthelargestglobalhouseholdappliancecompanywithsalesthatamountedtosome53billionU.S.dollars.OthersignificantcompaniesincludedGreeElectricAppliances,andSEBSA.ReadmoreNote(s):Worldwide;2023Source(s):ForbesRevenueofWhirlpoolworldwidefrom2007to2023(inbillionU.S.dollars)RevenueofWhirlpoolworldwide2007-20232521.9921.2521.0420.8920.7220.4219.8719.7219.419.4619.45201510518.918.718.7718.418.117.102007200820092010201120122013201420152016201720182019202020212022202318Description:U.S.AmericanappliancemanufacturerWhirlpoolbroughtinalmost19.45billionU.S.dollarsinrevenuein2023,backonthetrendofdecliningrevenuesfromthepastfouryears.Comparedto2021thecompany'srevenuedeclinedbymorethantwobillionU.S.dollars.ReadmoreNote(s):Worldwide;2007to2023Source(s):WhirlpoolCorporationRevenueofMideaGroupCo.,Ltd.from2016to2023,bysegment(inbillionyuan)RevenueofMideaGroup2016-2023,bysegmentHVACairconditionersConsumerelectronicapplicancesRobotsandautomatedsystems3503002502001501005033.0229.9327.2821.5925.19134.6925.68125.2827.0498.75131.87113.89109.49102.9976.54161.112023150.632022141.882021119.612019121.222020109.39201895.35201768.732016019Description:ThestatisticshowstherevenueofMideafrom2016to2023,bysegment.In2023,Mideahadgeneratedarevenueofabout33billionyuanfromrobotsandautomatedsystems.

ReadmoreNote(s):China;2016to2023Source(s):MideaRevenueofLGElectronicshomeappliances&airsolutionsegmentfrom2017to2024,byquarter*(inbillionU.S.dollars)RevenueofLGElectronicsfromhomeappliances&airsolutionsegmentQ12017-Q120247.06.56.06.45.975.935.565.555.55.04.54.03.53.02.55.254.994.584.064.033.963.663.613.553.35Q1

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'2421Description:Inthefirstquarterof2024,LGElectronics'revenuefromitshomeappliancesandairsolutionsegmentamountedtoaround6.4billionU.S.dollars.Overall,LGElectronics'homeappliancesandairsolutionssegmenthasshownnear-consistentgrowthinrecentyears.ReadmoreNote(s):Worldwide;Q12017toQ12024;FYendsDecember31;*Figuresfor2017onwardswereconvertedfromKRWtoUSDatanexchangerateof1KRW-0.000743USD(March31,2024).

ReadmoreSource(s):LGElectronicsRevenueofElectroluxfrom2001to2023*(inbillionU.S.dollars)RevenueofElectrolux2001-20231413.313.0212.9412.7712.0511.8911.8411.5711.61

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202322/statistics/220819/electroluxs-total-revenue-since-2011SwedishappliancemanufacturerElectroluxbroughtinaround13.3billionU.S.dollarsinrevenuein2023.Thecompanyhasreportedrelativelystablerevenuefiguresforthepastfewyearswiththeoverallnumberfloatingbetween10and13billiondollars.ReadmoreNote(s):Worldwide;2001to2023;*FigureswereconvertedfromSEKtoUSDattheexchangerateof1SEK-0.099USD(December31,2023)

ReadmoreSource(s):ElectroluxSamsungElectronics'revenuefrom1stquarter2011to4thquarter2023,byproduct/businesssegment(inbillionU.S.dollars)QuarterlyrevenueofSamsungElectronics2011-2023,bybusinesssegmentDeviceeXperience(DX)-othersDX:NetworksDS:MemoryConsumerelectronics-visualdisplayMobilecommunicationsDigitalmedia&appliances-other**DX:DA(Digitalappliances)DX:MobileeXperience(MX)SDCConsumerelectronics-otherSemiconductorDX:VisualDisplay(VD)DeviceSolutions(DS)-otherHarmanITDisplaypanelOtherTelecom-other**80706050403020100Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4'11'11'11'11'12'12'12'12'13'13'13'13'14'14'14'14'15'15'15'15'16'16'16'16'17'17'17'17'18'18'18'18'19'19'19'19'20'20'20'20'21'21'21'21'22'22'22'22'23'23'23'2323Description:Asofthefourthquarterof2023,SamsungElectronics’mobileexperience(MX)wasitsbiggestrevenuegenerator,bringinginapproximately18billionU.S.dollars.Otherkeysegmentsarethecompany’smobilecommunicationsanddisplaypanelbusinesseswhichalsocontributedsignificantlytototalrevenue.ReadmoreNote(s):Worldwide;Q12011toQ42023Source(s):Samsung;CHAPTER

04Environmental,SocialandGovernanceNumberofemployeesatArcelikworldwidefrom2018to2023,bygenderNumberofArcelikemployeesworldwide2018-2023,bygenderMaleFemale45,00040,00035,00030,00025,00020,00015,00010,0005,00010,65911,08911,1369,0397,4206,78830,275202129,941202229,392202328,374202024,114201922,7422018025Description:In2023,Arcelikhadover40thousandemployeesworldwide.Maleemployeesaccountedfornearly30thousandofthecompany'stotalworkforce,whilethenumberoffemalesemployeesinArcelikexceeded11thousandemployeesthatyear.Overall,thenumberofemployeesatArcelikhasbeenincreasingsteadilyrecentlyacrossbothgenders.ReadmoreNote(s):Worldwide;2018to2023Source(s):Ar?elikPercentageoffemaleemployeesatArcelikworldwidefrom2019to2022,bypositionShareoffemaleemployeesatArcelikworldwide2019-2022,bypositionJuniormanagementpositions*Managementpositionsinrevenue-generatingfunctionsEntrylevelpositionsTopmanagementpositions**Revenue-generatingfunctionsSTEM-relatedpositionsITpositionsEngineeringpositionsContractors40%35%30%25%20%15%10%5%0%201920202021202226Description:From2019to2022,Arceliksawmeaningfulincreasesintheshareoffemaleemployeesinthecompany'stopmanagementpositions,fromonly14percentto27percentofpositions.FemalerepresentationintechnicalpositionssuchasSTEM-relatedorITpositionsalsoincreasedinthegivenperiod.Incontrast,femalerepresentationinmanagementpositionsinrevenue-generatingfunctionsdeclinedfrom24percentin2019to19percentin2022.

ReadmoreNote(s):Worldwide;2019to2022;*i.e.,Firstlevelofmanagement.**i.e.,MaximumtwolevelsawayfromtheCEOorcomparablepositions.

ReadmoreSource(s):Ar?elikWaterconsumptionofArcelikworldwidefrom2018to2022(incubicmeters)WaterconsumptionofArcelikworldwide2018-20221,600,0001,489,6241,490,1051,478,6351,400,0001,200,0001,000,000800,000600,000400,000200,00001,205,1541,205,1542018201920202021202227Description:From2018to2022,Arcelik'stotalwaterconsumptionworldwidehasfluctuatedsignificantly,increasingfromapproximately1.21millioncubicmetersin2020and2021,respectively,toover1.49millioncubicmetersby2022.ThisrepresentsthehighestwaterconsumptionforArcelikinthegivenperiod.ReadmoreNote(s):Worldwide;2018to2022Source(s):Ar?elikWastegenerationofArcelikworldwidefrom2018to2022(inmetrictons)WastegenerationofArcelikworldwide2018-2022Non-HazardousWasteHazardousWaste160,000140,000120,000100,00080,00060,00040,00020,00003,2982,7892,7002,6012,050132,601111,362109,189110,677101,2132018201920202021202228Description:In2021,theTurkishhomeappliancemakerArcelikgeneratednearly135.9thousandmetrictonsofindustrialwasteacrossitsglobaloperations,includingsome3.3thousandtonsofhazardouswaste.ThisrepresentsthelargestamountofwastegeneratedbyArcelikintheg