Bim Birlesik Magazalar A.s. · BIST:BIMAS

Bim Birlesik Magazalar A.s — Q2 2024 Earnings Presentation

26 slides from Bim Birlesik Magazalar A.s's earnings presentation, 2024

  1. Slide 1: 2Q 2024 Financial Results

    BIM. 2Q | 2024 FINANCIAL RESULTS

  2. Slide 2: Notice

    NOTICE The information contained in this document has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. Neither t

  3. Slide 3: Financial Performance Operational

    P R E S E N T A T I O N Highlights Operational Financial Performance Performance R E S U L T S 2 0 2 4 2 Q B I M Q &A APPDX

  4. Slide 4: Headlines of Key Figures for 2Q24

    HEADLINES of KEY FIGURES for 2Q24 (with TAS 29 inflation accounting on financials) Highlights 109.3 billion TL 3.5% Customer traffic growth SALES (+8% YoY) (in 2Q24 YoY) P R E S E N T A T I O N 4.5 billion TL 13,124 Total stores CAPEX (4.1% of sales) (333 net new R E S U L T S stores in 2Q24) 3.7 bi

  5. Slide 5: Operational Performance

    P R E S E N T A T I O N Highlights Operational Financial Performance Performance R E S U L T S 2 0 2 4 2 Q B I M Q &A APPDX

  6. Slide 6: Like for Like Sales Increase (BIM Turkiye)

    LIKE FOR LIKE SALES INCREASE (BIM TURKIYE*) Operational Performance QUARTERLY (w/o TAS 29) SEMI - ANNUALLY (w/o TAS 29) 2023 Q2 2024 Q2 CHANGE 2023 6M 2024 6M CHANGE Like-For-Like Sales Like-For-Like Sales (per store/per day (TL) 57,618 96,624 67.7% (per store/per day (TL) 54,212 92,528 70.7% P R E

  7. Slide 7: Revenue Breakdown

    REVENUE BREAKDOWN Financial Performance BY FORMAT AND GEOGRAPHY* BY CATEGORY BİM Türkiye 2Q24 2Q24 P R E S E N T A T I O N 33% 8% 6% 30% R E S U L T S 87% 89% 2Q23 4% 2Q23 4% 58% 62% 1% 2 0 2 4 1% 7% 2 Q B I M 1% 8% 1% BİM TR FİLE BİM MAROC BİM EGYPT Private Label Branded Spot Exclusive *Without TAS

  8. Slide 8: Expansion

    EXPANSION Operational Performance QUARTERLY 381 365 356 734 711 338 687 254 P R E S E N T A T I O N 329 244 668 236 659 223 219 11.755 11.203 11.471 10.817 R E S U L T S 10.611 2 0 2 4 2Q23 3Q23 4Q23 1Q24 2Q24 2 Q B I M TOTAL 11,818 12,046 12,482 12,791 13,124 Openings (q-q) 293 228 436 309 333 • St

  9. Slide 9: Capex

    CAPEX Operational Performance QUARTERLY SEMI-ANNUALLY 3,8% 4,1% 3,4% 3,8% P R E S E N T A T I O N 4.516 8.449 3.818 With TAS 29 6.808 R E S U L T S 2Q23 2Q24 6M 2023 6M 2024 2 0 2 4 Capex Capex to sales Capex Capex to sales 2 Q 4,0% 3,8% B I M 3,5% 3,4% 4.316 7.859 Without TAS 29 2.025 3.664 2Q23 2Q

  10. Slide 10: Financial Performance

    P R E S E N T A T I O N Highlights Operational Financial Performance Performance R E S U L T S 2 0 2 4 2 Q B I M Q &A APPDX

  11. Slide 11: Net Sales

    NET SALES Financial Performance QUARTERLY SEMI-ANNUALLY 8% y-y 12% y-y P R E S E N T A T I O N 221.743 109.253 101.500 With TAS 29 197.578 R E S U L T S 2Q23 2Q24 6M 2023 6M 2024 Revenues (TRY m) Revenues (TRY m) 2 0 2 4 2 Q 90% y-y 86% y-y B I M 107.380 207.676 Without TAS 29 57.878 109.213 2Q23 2Q

  12. Slide 12: Gross Profit

    GROSS PROFIT Financial Performance QUARTERLY SEMI- ANNUALLY 17,0% 16,8% 15,5% 15,7% P R E S E N T A T I O N 37.669 18.312 With TAS 29 30.549 15.918 R E S U L T S 2Q23 2Q24 6M 2023 6M 2024 Gross Profit (TRY m) Gross Margin Gross Profit (TRY m) Gross Margin 2 0 2 4 2 Q 19,9% 20,2 B I M 18,5% 18,2% 21.

  13. Slide 13: Operating Leverage

    OPERATING LEVERAGE Financial Performance QUARTERLY SEMI-ANNUALLY 16,8% 16,4% 14,9% 14,8% P R E S E N T A T I O N 36.405 15.054 18.323 With TAS 29 29.518 R E S U L T S 2Q23 2Q24 6M 2023 6M 2024 Opex (TRY m) Opex to Sales (%) Opex (TRY m) Opex to Sales (%) 2 0 2 4 2 Q 15,0% B I M 15,2% 12,9% 13,3% 31.

  14. Slide 14: Opex Management Quarterly

    OPEX MANAGEMENT QUARTERLY * Financial Performance 19,00% 18,00% +241bp 0bp +4bp -16bp +21bp -21bp -33bp 16,83% 17,00% 16,00% P R E S E N T A T I O N 14,87% 15,00% 14,00% 13,00% R E S U L T S 12,00% 11,00% 2 0 2 4 10,00% 2 Q 2Q23 OPEX Personnel Utility Packaging Vehicles fuel Advertising D&A Other 2Q

  15. Slide 15: EBITDA

    EBITDA Financial Performance QUARTERLY SEMI-ANNUALLY 4,0% 3,8% 4,5% 3,3% P R E S E N T A T I O N 8.480 4.603 3.657 With TAS 29 7.869 R E S U L T S 2Q23 2Q24 6M 2023 6M 2024 EBITDA (TRY m) EBITDA Margin 2 0 2 4 EBITDA (TRY m) EBITDA Margin 2 Q 6,8% 7,0% B I M 7,4% 6,5% 14.612 6.951 Without TAS 29 4.2

  16. Slide 16: Net Income

    NET INCOME Financial Performance QUARTERLY SEMI-ANNUALLY 3,9% 4,1% 3,9% 2,7% P R E S E N T A T I O N 4.521 8.725 3.992 With TAS 29 5.255 R E S U L T S 2Q23 2Q24 6M 2023 6M 2024 Net Income (TRY m) Net Margin 2 0 2 4 Net Income (TRY m) Net Margin 2 Q 4,9% B I M 3,9% 3,8% 4,1% 4.150 Without TAS 29 8.57

  17. Slide 17: Quarterly Cash Flow Bridge

    QUARTERLY CASH FLOW BRIDGE* Financial Performance 2,311 7,387 Total 4,316 Total 9,438 9,145 559 P R E S E N T A T I O N 1,611 STFA STFA 4,624 4,448 R E S U L T S Cash Cash 4,814 4,697 2 0 2 4 Cash position Funds from Change in NWC CAPEX Lease Payment Other Cash position 2 Q including ST operations i

  18. Slide 18: FİLE

    FİLE Financial Performance P R E S E N T A T I O N 254 stores in 29 4th FİLE online shopping cities, 10 new warehouse to platform operates stores in 2Q24. be opened with 64 stores, two of nearby Izmir. which are dark stores. R E S U L T S 2 0 2 4 254 Stores 2 Q B I M 3 Logistic +40 stores in 2024 33

  19. Slide 19: Foreign Operations

    FOREIGN OPERATIONS Financial Performance BIM MAROC MAROC P R E S E N T A T I O N 4.5 bn TL %4 of 4,664 734 Stores 4 logistic Sales Consolidated Employees as of 2Q24 centers EBITDA* R E S U L T S BIM EGYPT 2 0 2 4 2 Q B I M EGYPT 625 mn TL 0.3% of 2,474 381 Stores 2 logistics Sales Consolidated Emplo

  20. Slide 20: Q&A

    P R E S E N T A T I O N Highlights Operational Financial Performance Performance R E S U L T S 2 0 2 4 2 Q B I M Q &A APPDX

  21. Slide 21: Appendix

    P R E S E N T A T I O N Highlights Operational Financial Performance Performance R E S U L T S 2 0 2 4 2 Q B I M Q &A APPDX

  22. Slide 22: TFRS Income Statement (with TAS 29)

    TFRS INCOME STATEMENT (with TAS 29) APPDX 6 months ended 30 June 3 months ended 30 June Change % Change % TL million 6M 2023 6M 2024 YoY 2Q 2023 2Q 2024 QoQ Net Sales 197,578 221,743 12% 101,500 109,253 8% COGS (167,029) (184,074) 10% (85,583) (90,940) 6% P R E S E N T A T I O N Gross Profit 30,549

  23. Slide 23: TFRS Income Statement (w/o TAS 29)

    TFRS INCOME STATEMENT (w/o TAS 29) APPDX 6 months ended 30 June 3 months ended 30 June Change % Change % TL million 6M 2023 6M 2024 YoY 2Q 2023 2Q 2024 QoQ Net Sales 109,213 207,676 90% 57,878 107,380 86% COGS (89,298) (165,695) 86% (47,184) (86,048) 82% P R E S E N T A T I O N Gross Profit 19,914 4

  24. Slide 24: TFRS Income Statement (w/o TAS 29 – w/o TFRS 16)

    TFRS INCOME STATEMENT (w/o TAS 29 – w/o TFRS 16) APPDX 6 months ended 30 June 3 months ended 30 June Change % Change % TL million 6M 2023 6M 2024 YoY 2Q 2023 2Q 2024 QoQ Net Sales 109,213 207,676 90% 57,878 107,380 86% COGS (89,298) (165,695) 86% (47,184) (86,048) 82% P R E S E N T A T I O N Gross P

  25. Slide 25: TFRS Balance Sheet (with TAS 29)

    TFRS BALANCE SHEET (with TAS 29) As of APPDX TL Million 31 December 2023 30 June 2024 TOTAL CURRENT ASSETS 67,929 74,096 Cash & Cash Equivalents 4,499 4,697 Financial Investments 4,218 4,448 Trade Receivables 20,113 19,694 Prepayments 2,616 4,578 Inventories 34,087 37,431 P R E S E N T A T I O N Oth

  26. Slide 26: TFRS Cash Flow (with TAS 29)

    TFRS CASH FLOW (with TAS 29) APPDX 6 months ended 30 June TL million 6M 2023 6M 2024 Net Income 5,233 8,728 D&A 6,838 7,216 Non Cash Tax Expense 4,268 2,542 P R E S E N T A T I O N Other Non-Cash Items (205) (759) Funds From Operations 16,134 17,727 Change In Net Working Capital 3,542 (1,481) Tax &

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