Dogan Sirketler Grubu Holding A.S. · BIST:DOHOL
Dogan Sirketler Grubu Holding A.S — Investor Presentation (March 2013)
33 slides from Dogan Sirketler Grubu Holding A.S's investor presentation, March 2013
Slide 1: Doğan Holding Investor Presentation – March 2013
DOĞAN HOLDING Investor Presentation – March 2013
Slide 2: Company Name and Listing Details
Company Name Doğan Şirketler Grubu Holding A.Ş. Date of Establishment 22.09.1980 Share Capital 2.450.000.000 Listing Istanbul Stock Exchange Ticker Symbol DOHOL Address Burhaniye Mah. Kısıklı Cad. No:65 Üsküdar - İSTANBUL Web Site www.doganholding.com.tr E-mail ir@doganholding.com.tr Phone +90 (216)
Slide 3: Agenda
AGENDA 1. Doğan Group in Brief 2. Media 3. Energy 4. Other Investments Retail Industry Tourism 3
Slide 4: Well positioned to benefit from demographic & social trends
Well positioned to benefit from demographic&social trends Media Energy Retail Doğan Yayın Holding Mcap US$907 mn - (75.7% ownership) PRINT MEDIA: LEADERSHIP Hürriyet The most influential daily. Posta # 1 daily in sold circulation. Doğan Enerji • 1.1 Million sales of 5 dailies. (100% ownership) • 5 M
Slide 5: Strategic Partnerships
Strategic Partnerships Books Publishing - JV TV Channels - JV Broadcasting - Partnership Magazines - JV Technology Partnerhship Financial Partners 5
Slide 6: Shareholders and Share price
Shareholders and Share price Total Share Capital TL2.450.000.000 SHAREHOLDERS Free-float DOGAN HOLDING STOCK PERFORMANCE AND SHARE PRICE 32.8 Aydın Doğan Adilbey Holding 10.1 52.7 Doğan Family 4.4 FEBRUARY 27, 2013 Share price TL1.06/US$0.59 Mcap (mn) TL2,597/US$1,436 52 wk US$1,592/US$888 High/Low
Slide 7: Financial Summary
Financial Summary Media’s share in total revenues was 80% in 9M12. DOĞAN HOLDING CONSOLIDATED REVENUES (TL M) 2.867 2.519 DOĞAN HOLDING CONSOLIDATED EBITDA (TL M) 256 2.297 2.073 234 223 199 243 187 2.285 2.612 1.687 1.831 187 225 217 235 2010 2011 9M11 9M12 2010 2011 9M11 9M12 Media Retail Other 7
Slide 8: Balance Sheet - Summary
Balance Sheet - Summary CONSOLIDATED BALANCE SHEET SUMMARY in TL mn 9/30/2012 12/31/2011 Δ Current Assets 3,871 4,990 -22% Non Current Assets 4,521 3,655 24% Total Assets 8,393 8,644 -3% Current Liabilities 2,073 2,027 2% Non Current Liabilities 2,326 2,766 -16% Minority Interest 867 812 7% SHs Equi
Slide 9: Consolidated Income Statement - Summary
Consolidated Income Statement - Summary in TL mn 3Q12 3Q11 Δ YoY 9M12 9M11 Δ YoY Sales 732 674 9% 2,297 2,073 11% Gross Profit 221 167 32% 674 601 12% Gross Margin 30.1% 24.8% 5.4 p.p. 29.3% 29.0% 0.4 p.p. EBIT 22 -17 n.m. 85 74 15% EBIT Margin 3.0% -2.5% 5.5 p.p. 3.7% 3.6% 0.1 p.p. Other Income/(Ex
Slide 10: Agenda
AGENDA 1. Doğan Group in Brief 2. Media 3. Energy 4. Other Investments Retail Industry Tourism 10
Slide 11: Media
MEDIA Hiirriyet| SPOSTA Radikal? (ANATIKg Hurriyet] hurriyet.com.tr farabam 2 D-SsMART D-smaRTa@ @ ¢ hurriyet emlak.com yenibiris:)§ ans Tarih blue jEan burda Capital CH Ekonomist elele ELLE ae -evim EvBahce -formsanté htikuk WAFT A SOM |HELLO!| heygirl LEVEL Lezzet ARON Pc seninle TEMPO YACHT Dogan
Slide 12: Doğan Yayın Holding in Summary
MEDIA Doğan Yayın Holding in Summary Market Leader in TV, Newspapers and Magazines in Turkey. CONSOLIDATED RAVENUES (TL m) Over 5 mn daily readers with 5 Newspapers; Market leader in newspaper circulation with 23% share 2.614 2.289 Over 7 mn circulation pa with 26 Magazines 341 321 1.851 1.685 Marke
Slide 13: Major Developments in 4Q12 and 1Q13
MEDIA Major Developments in 4Q12 and 1Q13 As disclosed on Feb 19, 2013; within the scope of the exercise of the “put option right” by Deutsche Bank AG.: 23.1 mn registered shares of Doğan Gazetecilik A.Ş (22% of its paid in capital) held by Deutsche Bank AG have been taken over by DYH for 122.3 mn U
Slide 14: The Impact of Recent Disposals
MEDIA The impact of Recent Disposals Cash Inflow From Cash Inflow Asset Disposals Market Share Impact Margin improvement Asset Sales (remaining 2012-end payments) (incl. interest) PUBLISHING Pre-Disposal: DYH Circulation Share: 29.8% DYH Audience Share*: 27.3% 3-4% EBITDA Hürriyet Asset Sale* margin
Slide 15: Advertising Market in Turkey
MEDIA Advertising Market in Turkey Following 14% growth in 2011, Turkish ad AD MARKET IN TURKEY market growth was only 1% in 1H12. FY11 3Q12 9M12 TLmn YoY TLmn YoY TLmn YoY Share Internet had the highest yoy growth with 28%, TV 2.236 12% 385 2% 1.631 2% 49% while growth in TV segment was 2%. Newspap
Slide 16: Total Ad Spending in Turkey
MEDIA Total Ad Spending in Turkey* Ad market continued its upward trend in 2011; ADVERTISING AS % of GDP (2010) 14% increase in FY11 attained. But, growth Source : Zenith Optimedia, DYH Ad Platform slowed down in 9M12. 1.24% 1.03% 0.80% 0.82% 0.71% 0.72% 0.63% 0.54% 0.55% 0.47% 0.49% 0.50% 0.50% 0.4
Slide 17: 9M12 Highlights
MEDIA 9M12 Highlights Consolidated revenues were up by 10%, with the support of DOĞAN YAYIN HOLDİNG P&L Consolidated Results printing & other revenues, mainly led by Star TV, Milliyet and Vatan becomming 3rd party. Circulation revenues increased by 1%, owing to higher cover prices. (TL mn) 9M11 9M12
Slide 18: Consolidated Ad Growth by Segment
MEDIA Consolidated Ad Growth by Segment TL mn FY10 FY11 Δ YoY 9M11 9M12 Δ YoY Publishing 632 699 11% 501 510 2% Hürriyet Grup excluding TME 353 387 10% 275 276 1% TME 169 189 12% 138 142 3% Doğan Gazetecilik 88 93 5% 69 69 -18% Magazines 23 27 16% 19 20 2% DMG International 11 11 5% 8 7 -18% Other 2
Slide 19: Publishing Segment
MEDIA Publishing Segment Newspaper Circulation in 9M12* Total Magazine Circulation in 9M12 (000 copies daily & change vs. 9M11) (Units m & yoy growth) -1% Source: Basin - İlan Source: DPP & Dogan Burda Dergi Yay. • DYH includes Dogan Burda & Dogan Egmont -6% 4.726 15.5 -4% -7% -4% 2% 411 459 196 5.2
Slide 20: Publishing Revenues & EBITDA
MEDIA Publishing Revenues & EBITDA Newsprint prices in 3Q12 were lower on yoy, but 9M12 average PUBLISHING P&L Results is still above 9M11 levels. Total publishing revenues increased by 4% in 9M12. (TL mn) 9M11 9M12 YoY Domestic ad revenues remained at the same levels attained in Revenues 1,025 1,06
Slide 21: Broadcasting Segment
MEDIA Broadcasting Segment FTA CHANNELS DIGITAL PLATFORM Audience Share * Sept 17 –Dec 31, 2012 (%) D-Smart Statistics (in thousands) Pay TV Subscribers Free-TV Users 1.688 Audience Share Total Day 1.439 1.248 Kanal D 11.9 1.112 ATV 11.0 918 423 607 872 270 Star TV 9.4 85 Fox 7.8 388 933 842 825 832
Slide 22: Broadcasting Revenues & EBITDA
MEDIA Broadcasting Revenues & EBITDA Subscription revenues up by 59% yoy. BROADCASTING P&L Results Total broadcasting revenues increased by 19% yoy, due to the rise in subscription and other revenues. Higher subscription revenues from D-Smart and Smile ADSL (TL mn) 9M11 9M12 YoY also contributed pos
Slide 23: Agenda
AGENDA 1. Doğan Group in Brief 2. Media 3. Energy 4. Other Investments Retail Industry Tourism 23
Slide 24: Doğan Enerji - Energy Investments
ENERGY Doğan Enerji - Energy Investments Current Energy Investments 2 Boyabat 33% 3 1 Hydro-Power Plant Aslancık 33,3% Galata 100% 513MW Hydro-Power Plant Wind-Power Plant 120MW 93MW 4 Akdeniz 100% Wind-Power Plant 42MW 5 Erbil PSC Oil and Gas E&P Asset Acquired in 1H12-end 105 MW capacity by 1H13 1
Slide 25: Power Generation (Hydro)
Power Generation (Hydro) BOYABAT HEPP ASLANCIK HEPP Installed Capacity: 513 MW Shareholders Share (%) Configuration: 3X171MW Doğan Holding %33 Fuel: Hydro Installed Capacity: 120 MW Type: Dam Doğuş Holding %34 Shareholders Share (%) Unit Investment %33 Configuration: 2X60MW Generation: 1.5 TWh Doğan
Slide 26: Power Generation (Wind)
Power Generation (Wind) GALATA WPP (Bandırma) AKDENİZ WPP (Mersin) Current Installed Capacity: 93 MW İstanbul Additional Capacity: 12 MW (by 1H13) License: 2008 Bandırma Current Installed Capacity: 42 MW İstanbul Generation: 362 GWh (with added capacity) Ankara (Increased its capacity by 9 MW Ankara
Slide 27: Oil and Gas Exploration and Production
ENERGY Oil and Gas Exploration and Production Doğan Enerji owns 50% of Gas Plus Erbil (“GPE”). GPE holds 40% interest in Erbil Production Sharing Contract with 20+5 years of develop.& prod. period. Declaration of Commerciality of the Benenan and Bastora Discoveries filed on 25 June 2011. The develop
Slide 28: Agenda
AGENDA 1. Doğan Group in Brief 2. Media 3. Energy 4. Other Investments Retail Industry Tourism 28
Slide 29: Retail: D&R Music & Bookstores
RETAIL D&R Music & Bookstores D&R, celebrating its 15th anniversary in 2012, offers books, music, movies, magazines and games, as well as hobby, multimedia and electronic products, accessories and stationery at its126 stores in 26 cities. As of Dec 2012, D&R reached 125 stores and net store area of
Slide 30: Industry
INDUSTRY ÇELİK HALAT DİTAŞ DOĞAN Steel Ropes, industrial high carbon galvanized wires, finishing Rods and parts to the vehicle manufacturers (OEM) and galvanized wires, industrial spring wires, bed wires and spare parts (IAM) prestressed wires and strands manufacturer Suppliers of 42 companies in Tu
Slide 31: Tourism
TOURISM Milta MARINA RESORT MANAGEMENT Located on Bodrum City Center 2 Hotels in Bodrum and in Antalya Kemerdibi International Marina granted with Gold Award by U.K. Yacht Bodrum Işıl Club Harbour Association Located in Torba on 35.000 sqm land Land status is rented from the Number of rooms 292 stat
Slide 32: Appendix / Disclaimer
APPENDIX / DISCLAIMER Doğan Şirketler Grubu Holding A.Ş. Investors and prospective investors in Doğan Holding and its Subsidiaries and (“Doğan Holding”) has prepared this book securities of any issuer mentioned herein Joint Ventures (Doğan Holding) registered (the “Book”) for the sole purpose of pro
Slide 33: Thank You
Doğan Şirketler Grubu Holding A.Ş. Burhaniye Mah. Kısıklı Cad. No.65 34676 Üsküdar, İstanbul T: +90 216 556 9000 www.doganholding.com.tr Thank You For further information E-mail: ir@doganholding.com.tr 33
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