Slide 1: Koç Holding FY19 Earnings Presentation
Koç Holding FY19 Earnings Presentation 13 February 2020
Slide 2: Focus on Sustainability and Resilience
Focus on Sustainability and Resilience Dividend Income (TL mn) NAV Breakdown by Sector1 Other 14% Auto 2,692 2,548 ~2x (PC & CV Mfg) Fi nance 27% 14% 1,228 1,291 Cons . Auto Dura bles (Other) 10% 10% 2016 2017 2018 2019 Oi l & Ga s Refi ning Di s tribution 22% 4% - Sustained dividend income - ~80% o
Slide 3: Disciplined Approach
Disciplined Approach Strong US$ 2.7 bn gross cash → 77% in hard currency, 23% in TL US$ 2.3 bn total debt Cash Position (Solo) US$ +433 mn net cash (US$ +673 mn including YKB AT1) 3 Eurobonds totaling US$ 2.25 bn Stable - Mar’19: US$ 750 mn, 6 yrs, 6.5% coupon (to prefinance US$750mn Eurobond due in
Slide 4: Energy
Energy Sales Volume, Domestic Market (mn tons) Aygaz (‘000 tons) -2% Sales Volume Ranking: #1 Energy Segment +3% Share in Share in 2,068 2,000 Combined Consolidated 907 993 Operating Profit 2 Net Income +7% 48 38 +3% 730 734 27% 8% 315 302 Diesel Jet Fuel Gasoline LPG 2018 2019 11M18 23.15 4.61 2.16
Slide 5: Automotive
Automotive Sales Units, Domestic Market (‘000) Export Units, Turkey (‘000) Koç Koç Share 14% 19% 52% 55% 21% 23% 22% 26% Share 43% 42% Automotive Segment -23% -5% 1,319 1,253 Share in Share in -20% Combined Consolidated Operating Profit 1 Net Income -32% -38% 33% 39% Passenger Light Heavy TOTAL Cars
Slide 6: Consumer Durables
Consumer Durables Sales Units, Market (mn) Export Units, Turkey (mn) +3% Consumer Durables Segment -1% 22.1 21.9 Share in Share in -6% Combined Consolidated +3% Operating Profit 1 Net Income -1% 13% 10% Western Eastern Turkey S. Africa Europe Europe 2018 7.1 52.3 20.7 2.2 2018 2019 2019 6.7 53.8 21.
Slide 7: Finance
Finance YKB Profitability YKB Operational Performance Net Income (NI) & ROTE Cost/Income CoR Pre-Provision Profit (PPP) (TL mn) Finance Segment PPP 12,409 -1% 12,321 14.2% Share in Share in 37.5% 34.2% 3.12% Combined Consolidated 9.8% 2.89% Operating Profit Net Income NI 4,668 -20% 3,741 25% 31% 201
Slide 8: Group’s Overall Financial Performance
Group’s Overall Financial Performance Consumer TL mn, 2019 Energy Automotive Finance Other Total Durables Combined Revenues 1 153,426 74,448 36,311 47,844 17,014 329,042 y/y 0% 13% 20% 11% 23% 7% Combined Operating Profit2 4,923 6,121 2,381 4,576 398 18,398 y/y -49% 9% 8% -24% 235% -22% Combined Pro
Slide 9: Consolidated Net Income
Consolidated Net Income Consolidated Net Income (TL mn) Normalized 1 Normalized 1 Normalized 1 -78% +15% -20% y/y -76% +5% +17% -21% +38% -21% 5,537 80 64 4,391 148 - 1,087 -351 2018 Energy Auto Cons. Durables Finance Other 2019 2018 2019 Other Other Energy 7% 12% 8% Energy 26% Auto 39% Finance 31%
Slide 10: Wrap-Up
Wrap-Up Diversified portfolio and disciplined risk policies ensuring resilience Value creation and diversifying further always a key priority Solid liquidity position www.koc.com.tr 10
Slide 11: Disclaimer
Disclaimer This presentation does contain forward-looking statements that reflect the Company management’s current views with respect to certain future events based on the base-case assumptions. Although it is believed that the expectations reflected in these statements are reasonable, they may be a
Slide 12: ANNEX
ANNEX www.koc.com.tr] 12
Slide 13: Consolidated Main Financial Indicators
Consolidated Main Financial Indicators 2019 TL mn 2018 2019 Y/Y € mn $ mn Revenues 143,248 153,516 7% 24,185 27,071 Gross Profit 22,439 21,585 -4% 3,400 3,806 Operating Profit 12,963 10,374 -20% 1,634 1,829 Profit Before Tax 8,691 5,547 -36% 874 978 Net Income Before Non-controlling Interest 8,425 5
Slide 14: Combined Net Income – Consolidated Net Income
Combined Net Income – Consolidated Net Income Combined Net Income (TL mn) 1 y/y -71% +10% +11% -21% +43% -23% Normalized -22% 1 1 Normalized Normalized -72% +15% 13,979 10,812 4,227 4,734 4,007 3,851 3,738 1,145 881 977 724 507 Energy Auto Cons. Durables Finance Other Total Consolidated Net Income (
Slide 15: Unlisted Companies
Unlisted Companies FY19 Koç Hol di ng Revenues Opera ting Profi t1 EBITDA Book Va l ue (SHE) TL mn Di rect Sha re FY18 FY19 FY18 FY19 FY18 FY19 FY18 FY19 Arçel i k LG Kl i ma 5.00% 955 849 55 62 70 81 277 331 Bi l kom 69.94% 2,331 3,297 107 148 108 150 116 206 Düzey 31.21% 1,759 1,946 -3 37 1 53 17
Slide 16: 2020 Expectations of Listed Koç Group Companies
2020 Expectations of Listed Koç Group Companies TÜPRAŞ 2019A 2020E ARÇELİK 2019A 2020E Sector Revenue 19% 10-15% Med Complex ($/bbl) 1.7 1.5-2.5 EBITDA Margin 10.5% ~10.5% Tüpraş LT EBITDA Margin -- >11.5% Net Margin ($/bbl) 3.7 4.5-5.5 Capex (€ mn) 211 200-250 CUR 98% 95-100% Working Capital / Sale
Slide 17: Shareholding Structures
Shareholding Structures Koç Holding Koç Family: 64.3%1 Free Float: 26.5% Vehbi Koç Foundation: 7.3% Koç Pension Fund: 2% Consumer Energy Automotive Finance Other Durables Tüpraş Ford Otosan Arçelik Yapı Kredi Bank3 Tat Gıda EYAŞ: 51% KH: 38% KH: 41% KFS: 81.9% KH: 44% Free float: 49% Ford Motor Co.2
Slide 18: Koç Holding Contacts
Koç Holding Contacts investorrelations@koc.com.tr www.koc.com.tr IR Application Nursel Ilgen, CFA, Coordinator Investor Relations nurseli@koc.com.tr +90 216 531 0414 Neslihan Aycıl, Manager Investor Relations neslihana@koc.com.tr +90 216 531 0516 Sinem Baykalöz, Manager Investor Relations sinemb@koc