Dogan Sirketler Grubu Holding A.s. · BIST:DOHOL
Dogan Sirketler Grubu Holding A.s — FY2023 Earnings Presentation
27 slides from Dogan Sirketler Grubu Holding A.s's earnings presentation, May 9, 2024
Slide 1: Doğan Holding 2023 Earnings Presentation
Doğan Holding 2023 Earnings Presentation May 9, 2024
Slide 2: 2023 Financial Highlights
2023 Financial Highlights Significant Growth in Operating Profit • Significant growth in revenues and operating profit in Industry & Trade segment • Robust revenue and profitability in Automotive segment • Continued strong contribution from our Digital Insurance business High Net Cash Position and S
Slide 3: 2023 Strategic Actions
2023 Strategic Actions • We have taken significant steps towards reaching a valuation of 1 billion USD for our four companies. • Galata Wind has increased its capacity to 291MW with ongoing investments and aims to reach 550MW by 2025 and 1,000MW by 2028. • Karel Elektronik continues its capacity exp
Slide 4: 2023 Financial Highlights (including IAS 29)
2023 Financial Highlights (including IAS 29) Revenue EBITDA* Net Profit (TL mn) 7.449 %78 52.565 %129 297 %28 232 29.606 3.249 2022 2023 2022 2023 2022 2023 • Industry & Trade segment: +19% • Automotive segment: +%204 • Higher EBITDA YoY (+) • Automotive segment: +%212 • Industry & Trade segment: EB
Slide 5: 2023 IAS-29 Impact
2023 IAS-29 Impact Revenues Net Profit • Generally there is a positive impact of indexation on 52.565 12.578 revenues and EBITDA. • Net profit is reduced due to monetary loss arising from 43.964 long-term indexation of Shareholders Equity (capital and reserves) while indexation on the asset side is
Slide 6: 2023 4Q Summary Financial Performance (Pre IAS-29)
2023 4Q Summary Financial Performance (Pre IAS-29) Revenues Operational Profit Net Profit (mn TL) 14.841 219% 4.325 118% 165% 4.979 1.983 4.652 1.881 4Q22 4Q23 4Q22 4Q23 4Q22 4Q23 • Excluding IAS-29 adjustments, revenue • Operational profit grew by 118% to • Without IAS-29 implementation, net increa
Slide 7: Share Buyback /Dividend Inflow and Payments
Share Buyback /Dividend Inflow and Payments Share Buyback Program Dividend Inflow Dividend Payments • Program size: TL300 million • Consistent dividend inflow from group • Dividend Policy: targets to distribute >5% • Program was re-activated in December companies. of net income. 2023: • 2024 dividen
Slide 8: Electricity Generation Segment
Electricity Generation Segment Electricity Generation Segment Summary Financials 2023 Overview TL million 2022 2023 Δ • Electricity production was flat YoY in 2023 Revenue 2.297 1.859 -19% • The spot electricity price was realized significantly below 2022 levels. Gross Profit 1.580 1.104 -30% • Desp
Slide 9: Electricity Generation Segment – Galata Wind
Electricity Generation Segment – Galata Wind Galata Wind Summary Financials 2023 Overview milyon TL 2022 2023 Δ • Revenue fell by 19% YoY due to lower production and falling Gelir 2.297 1.859 -19% Brüt Kar 1.644 1.106 -33% prices. FAVÖK 1.958 1.405 -28% • Margin contraction due to rising costs, espe
Slide 10: Electricity Generation Segment – Galata Wind
Electricity Generation Segment – Galata Wind Domestic Investments Foreign Investments Post -2025 Domestic Investments Current & Additional Capacities & New Investments Pre-approved licenses for Current Additional New Capacity Two agreements signed with developer for 300 Storage Units Production Capa
Slide 11: Industry & Trade Segment
Industry & Trade Segment Industry & Trade Segment Summary Financials 2023 Overview TL million 2022 2023 Δ • Acquisition of Karel and its subsequent strong organic and Revenue 14.675 17.422 19% Gross Profit 509 2.337 359% inorganic performance in 2023 contributed to top-line growth. EBITDA -305 3.003
Slide 12: Industry & Trade Segment – Karel Elektronik
Industry & Trade Segment – Karel Elektronik Karel Elektronik Summary Financials 2023 Overview TL million 2022 2023 Δ • Organic growth and contribution from new business led to 48% Revenue 6.384 9.458 48% Gross Profit 343 1.321 285% top-line growth. EBITDA 98 1.020 941% • Strong top-line growth augme
Slide 13: Industry & Trade Segment – Sesa Ambalaj
Industry & Trade Segment – Sesa Ambalaj Sesa Ambalaj Summary Financials 2023 Overview TL million 2022 2023 Δ • Despite weak markets, high competition, revenue remained at Revenue 3.062 3.052 0% 2022 level in real terms. Gross Profit 768 816 6% • EBITDA margin improved by 0.5pp amid strong Turkish Li
Slide 14: Industry & Trade Segment – Ditaş
Industry & Trade Segment – Ditaş Ditaş Summary Financials 2023 Overview TL million 2022 2023 Δ • Flat top-line YoY Revenue 1.497 1.509 1% • FX movements, weaker demand in export markets and cost Gross Profit 141 64 -55% EBITDA 68 -37 n.m. pressures led to weak operating profitability. Net Income 27
Slide 15: Automotive Segment – Dogan Trend Otomotiv
Automotive Segment – Dogan Trend Otomotiv Automotive Segment Summary Financials 2023 Overview TL million 2022 2023 Δ • In addition to strong demand throughout the year, strong MG sales led Revenue 6.433 20.075 212% to top-line growth of 212% YoY Gross Profit 1.109 3.378 205% • MG reached a market sh
Slide 16: Finance & Investment Segment
Finance & Investment Segment Finance & Investment Segment Summary Financials 2023 Overview TL million 2022 2023 Δ • Doğan Investment Bank (DIB)’s asset size increased to TL3.0 Revenue 3.605 10.363 187% PBT -4.671 -3.826 n.m billion. • Hepiyi Sigorta’s strong top-line growth was the major driver of P
Slide 17: Hepiyi Sigorta – 2023
Hepiyi Sigorta – 2023 Monthly Premium Generation (mn TL) Assets Under Management (mn USD) 782 204 519 537 580 598 622 650 444 447 319 334 380 76 2022 2023 Premium Breakdown by Product Motor Own Liability Market Share 1,9% 5% 3% 27% 0,7% 65% 2022 2023 Motor Third Party Motor Own Damage Source: TSB Tr
Slide 18: Internet & Entertainment Segment
Internet & Entertainment Segment Internet & Entertainment Segment Summary Financials 2023 Overview TL million 2022 2023 Δ • Revenues grew by 7% YoY to TL2,064mn in 2023. Revenue 1.934 2.064 7% Gross Profit 944 984 4% • The largest contributor was Kanal D Romania, which has Euro EBITDA 645 608 -6% ba
Slide 19: Real Estate Investments Segment
Real Estate Investments Segment Real Estate Investments Segment Summary Financials 2023 Overview TL million 2022 2023 Δ • Ongoing high occupancy rates led to 18% revenue growth to Revenue 662 782 18% TL782mn. Gross Profit 177 201 13% • EBITDA fell by 15% to TL206mn EBITDA 243 206 -15% PBT 322 3.410
Slide 20: Apendix
Apendix
Slide 21: Apendix – Financials
Apendix – Financials TL million 2022 2023 Δ TL million 2022 2023 Δ Sales 29.606 52.565 78% Current Assets 50.650 57.961 14% Cost of Goods Sold -24.693 -42.982 74% Non-Current Assets 33.156 35.457 7% Gross Profit 4.913 9.584 95% Total Assets 83.806 93.418 11% Gross Margin 16,6% 18,2% 1,6 pp Current L
Slide 22: Apendix – Revenue Breakdown
Apendix – Revenue Breakdown TL million 2022 2023 Δ Electricity Generation 2.297 1.859 -19% Electricity Sales 2.297 1.859 -19% Industry & Trade 14.675 17.422 19% Industry 7275 10927 50% Foreign trade 3217 3024 -6% Packaging 3482 3414 -2% Other 702 58 -92% Automotive Distribution 6.433 20.075 212% Fin
Slide 23: Apendix – Net Cash / (Debt) Breakdown
Apendix – Net Cash / (Debt) Breakdown TL million 2022 2.023 Δ Petroleum Products Retailing -717 0 Electricity Generation 329 -619 -288% Industry & Trade -7.038 -4.226 -40% KAREL -3.723 -2.608 -30% DITAS -431 -465 8% Doğan Dış Ticaret -1.482 -386 -74% Sesa Yatırım -1.304 -764 -41% Other -97 -3 -97% A
Slide 24: Apendix – Segments & Major Group Companies – 2023 Financials
Apendix – Segments & Major Group Companies – 2023 Financials TL mn Petroleum Products Automotive Trade & Internet & Real Estate Electricity Generation Industry & Trade Financing & Investing Retailing Marketing Entertainment Investments Revenue n.a. 1.859 17.422 20.075 10.363 2.064 782 Revenue Shr. n
Slide 25: Electricity Generation Segment – Boyabat & Aslancık HPP
Electricity Generation Segment – Boyabat & Aslancık HPP Boyabat & Aslancık HPP Summary Financials* 2023 Overview Boyabat HPP Summary Financials • Boyabat HPP’s revenue declined by 21% to TRY1.8 billion in TL million 2022 2023 Δ 2023 Revenue 2.260 1.779 -21% • In the same period, Aslancık HPP’s reven
Slide 26: Investor Relations Contact
Investor Relations Contact Bora Tezgüler Investor Relations Director borat@doganholding.com.tr Kerimcan Uzun Investor Relations Manager kerimu@doganholding.com.tr www.doganholding.com.tr ir@doganholding.com.tr +90 216 556 90 00 25 Doğan Holding 4Q23 Earnings Presentation
Slide 27: Disclaimer
Disclaimer Doğan Şirketler Grubu Holding A.Ş. (“Doğan Holding”) has prepared this book (the “Book”) for the sole purpose of providing information relating to DoğanHolding (the “Information”). The contents of this Book is based on public information and on data provided by Doğan Holding management. N
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