Migros Ticaret A.s. · BIST:MGROS
Migros Ticaret A.s — FY2011 Earnings Presentation
10 slides from Migros Ticaret A.s's earnings presentation, April 2012
Slide 1: Migros Ticaret A.Ş. 2011 Financial Results
Migros Ticaret A.Ş. 2011 Financial Results April 2012
Slide 2: Disclaimer Statement
Disclaimer Statement Migros Ticaret A.Ş. (the ―Company‖) has prepared this presentation for the sole purpose of providing information about its business, operations and financial results. The information in this presentation is subject to updating, revision and amendment. The information in this pre
Slide 3: Contents
CONTENTS P2 Financial Expansion Sales Overview & Capex Commercial & Format Performance Operational Guidance Overview Summary Overview
Slide 4: Sales
1 Sales P3 Consolidated sales increased by 11.5% y-o-y to TL 5.8bn in 2011. Of which TL 352 mn is coming from international operations. In 2011, 71 new supermarkets, 5 hypermarkets and 1 Ramstore were added to our store portfolio. Significant top-line growth in Q4 compared to year average Sales Quar
Slide 5: Financial Overview 2011
2 Financial Overview 2011 Achieved our gross profit target Outperformed our EBITDA target P4 Gross profit increased by 12.8% y-o-y to TL 1.5bn and EBITDA increased by 11.1% y-o-y to TL 386mn with reached to 26.0% margin in 2011. 6.7% margin The Company continued to invest in pricing especially
Slide 6: Expansion & Capex
3 Expansion & Capex P5 Sales Area Split By Format –2011 In 2011, 71 supermarkets and 5 hypermarkets were opened in Ramstore 7% Turkey HPM The highest number of supermarkets and hypermarkets 12% openings were in 2011. Macrocenter 91 Tansas stores converted to Migros banner only in 2011 2% In
Slide 7: Format Overview
4 Format Overview Expansion Trading P6 Accelerated store openings Continuing improvement on (56 new Migros stores) L-f-L sales and store contribution Positive consumer reaction to new 91 converted stores quarterly thematic marketing schemes Increased focus on PL positioning and Active in 66 towns ou
Slide 8: Commercial & Operational Overview
5 Commercial & Operational Overview P7 Strong loyalty program Supply Chain Management Strong collaboration with the largest Penetration of central distribution in fresh mobile operator categories is completed. Money Club members dedicated Further competitive advantage and sustainability mobi
Slide 9: Performance Summary - 2011
6 Performance Summary - 2011 P8 Target Actual Expansion Program (Number of stores – year end) 712-716 717 Top-Line Sales Growth Double Digit 11.5% Gross Margin 25.5-26.0% 26.0% EBITDA Margin 6.3-6.5% 6.7% Net Debt TL 1.6 bn TL 1.6 bn
Slide 10: Guidance 2012 and Medium Term
7 Guidance 2012 and Medium Term Sales growth: Double digit sales growth is targeted in 2012 and 2013 P9 Gross profit: Full Year Gross margin within the range of 25.5 – 26.0% EBITDA margin: Full year EBITDA margin within the range of 6.0%-6.5% Expansion target: 100 supermarkets and 2 hypermar