Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi · BIST:DOAS
Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi — Doğuş Otomotiv Servis ve Ticaret A.Ş. — Q2 2018 Earnings Presentation
26 slides from Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi's earnings presentation, Aug 17, 2018
Slide 1: 2Q 2018 Analyst Briefing Presentation
2Q 2018 ANALYST BRIEFING PRESENTATION Kerem Talih 17 August 2018
Slide 2: 2Q 2018 DOAS Developments
2Q 2018 DOAS DEVELOPMENTS Net Sales increased by 11%. EBITDA margin increased from 4,2% to 5,9%. In line with our cautious expenditure management our OpEx/Sales decreased from 6,9% to 6,0%. Dogus Otomotiv A.S. has been rated by Fitch Ratings Ltd. Fitch has assigned a First-Time National Long
Slide 3: 2Q 2018 Doğuş Otomotiv Main Segment Sales Performance
2Q 2018 DOGUS OTOMOTIV MAIN SEGMENT SALES PERFORMANCE Retail RETAIL MARKET DOAS PERFORMANCE
Slide 4: Competition (Retail)
COMPETITION (Retail) Jun17 RETAIL MARKET 2016 2017 YTD YTD 2017/Jun18 /Jun18 VW PC ranked 2nd in the Haz.17 Haz.18 ∆ ∆ cumulative passenger vehicle PASSENGER CAR % market with 10,5% market share. RENAULT 19,7 21,5 21,6 22,3 0,8 0,7 DOGUS OTOMOTİV TOFAS 23,0 7,3 21,1 8,9 20,5 9,1 19,9 8,5 -1,2 -0,4 -
Slide 5: 2Q 2018 Passenger Vehicle Market (%)
2Q 2018 PASSENGER VEHICLE MARKET (%) Retail - PC market decreased by 10% yoy. - DOAS’ market share in the passenger vehicle market was realized as 19,9%. - Renault attained a 22,3% market share in the PC market. - Segment information: VW PC 6M18 Polo A0/HB 14,4% 3. - Premium Segment: Golf A/HB 31,2%
Slide 6: 2Q 2018 Light Commercial Vehicle Market (%)
2Q 2018 LIGHT COMMERCIAL VEHICLE MARKET (%) Retail - Light Commerical Vehicle market decreased by 19% yoy. - DOAS maintained its 3rd position with 13,1% market share. - Leaders in the LCV market are Ford Otosan with 31,1% market share and Tofaş with 22,1% market share. - Segment information: VW LCV
Slide 7: 2Q 2018 Doğuş Otomotiv Brand Sales Performance
2Q 2018 DOĞUŞ OTOMOTIV BRAND SALES PERFORMANCE WHOLESALE UNITS 6M17 6M18 Δ VW Binek 38.834 26.612 -31% VW Ticari 11.562 10.179 -12% AUDI 8.410 7.795 -7% SKODA 8.993 12.480 39% SEAT 8.087 5.691 -30% SCANIA 632 901 43% PORSCHE 286 300 5% BENTLEY 6 5 -17% LAMBORGHINI 3 2 -33% DOAS TOTAL 76.813 63.965 -
Slide 8: 2018 Launches
2018 LAUNCHES Touareg 911 GT3 RS, Macan New Crafter Panel Van Continental GT A8, A7, A6 Q8, Q3, A1 Urus Karoq New Generation
Slide 9: Financial Performance
FINANCIAL PERFORMANCE
Slide 10: Financial Performance (mn TL)
FINANCIAL PERFORMANCE (mn TL) Net Sales EBITDA Net Profit CapEx Total Assets Working Capital* * Comprised of cash and cash equivalents, trade receivables and inventory.
Slide 11: Margins %
MARGINS % Gross Profit Margin OpEx/Sales EBITDA Margin %8 10-11 % Kons. Maks EBIT Margin Net Profit Margin Wholesale Market Share* * Includes PV, LCV and HCV sales.
Slide 12: Income Statement
INCOME STATEMENT TL’000 30.06.2018 30.06.2017 Δ 2018/ 2017 Gross Profit Margin was realized as 11,2% with increase of 11% in Revenue 5.769.345 5.215.259 11% revenue. Direct cost of revenue -5.120.407 -4.677.498 9% Gross profit 648.938 537.761 21% Impacts on revenue and direct cost of revenue: Total
Slide 13: Income from Associates
INCOME FROM ASSOCIATES TL’000 30.06.2018 30.06.2017 Δ 2018/ 2017 Associates vdf 8.743 20.512 -57% Doğuş Sigorta 1.171 908 29% Yüce Auto (Škoda) 14.632 3.322 340% vdf Servis 7.058 5.875 20% TÜVTÜRK N&S (Consolidated) 18.441 15.800 17% Meiller-Doğuş* 193 47 311% Doğuş Teknoloji -1.245 -1.010 23% Total
Slide 14: Balance Sheet
BALANCE SHEET TL’000 30.06.2018 31.12.2017 Δ Inventories: Number of vehicles increased from ASSETS 6.230.324 5.166.882 21% 12.972 units on 31.12.2017 to 30.930 units on 30.06.2018. Cash and cash 109.433 106.385 3% equivalents Financial Liabilities: Trade receivables 747.543 1.425.215 -48% Use of fin
Slide 15: Financing Costs
FINANCING COSTS Million TL 30.06.2018 30.06.2017 Δ 2018/ 2017 Financing Costs 196,985 166,626 18% Finance expenses, net 191,132 166,540 15% Interest expense on borrowings 180,630 159,175 13% Commission expenses on letters 6,874 3,507 96% of guarantee Other financial expenses 3,628 3,858 -6% Foreign
Slide 16: Financial Performance
FINANCIAL PERFORMANCE Million TL 30.06.2018 31.12.2017 Δ Working capital 3.960 2.957 34% Net Cash Position -2.517 -2.997 -16% Receivable Turnover (day) 24 39 -40% Inventory Turnover (day) 111 44 153% Payable Turnover (day) 77 19 295% Million TL 30.06.2018 31.12.2017 Δ CAPEX 99 315 -69% ROA 2,2% 3,6%
Slide 17: Key Material Disclosures in 2018
KEY MATERIAL DISCLOSURES IN 2018 24.05.2018 – Credit Rating Note Dogus Otomotiv A.S. has been rated by Fitch Ratings Ltd. (link to original press release found on our website www.dogusotomotiv.com.tr) Fitch has assigned a First-Time National Long-Term 'BBB+(tur)' Rating to our Company with a stable
Slide 18: 2018 Expectations
2018 EXPECTATIONS Mobility Digitalization Service Areas Operational Efficiency and Optimum Profitability 10-11% Gross Margin & Cautious Expenditure Management 18 – 20% Market Share OEM Strategy: Maintain represented brands’ competitive position. Total Automotive Market Investment Expenditure (PC+LCV
Slide 19: Digital Transformation Strategy – Koray Bebekoğlu
DIGITAL TRANSFORMATION STRATEGY KORAY BEBEKOĞLU CDO
Slide 20: Four Perspectives On Impact For Automotive Industry
Four Perspectives On Impact For Automotive Industry Digitalization of the Digitalization of the Digitalization of new Digitalization of product customer interface business models core processes • Electrification • Customer Engagement • Mobility Services • Sales & Marketing • Autonomous Driving • Cha
Slide 21: Digital Capabilities and On Going Projects
Digital Capabilities and On Going Projects DOGUS TEKNOLOJİ Projects • Software development • Digital Spine for Dealer network ( ERP, Mobile, … ) • Turkuaz re-factoring • System infrastructure requirements • Agile working (network, security, business continuity) (Value oriented, Cultural change) • Bu
Slide 22: Dogus Otomotiv Road Map for Digital Vision
Dogus Otomotiv Road Map for Digital Vision Personalization 3 digital foundations Analytics Data & systems Vehicle digital empowered twin People, skills & working E2E planning mode Eight Digital governance, Digitized cornerstones to Omni-channel partner ecosystem & transformation operations drive Dog
Slide 23: Digital Initiatives Timeplan
Digital Initiatives Timeplan H2 - 2018 2019 2020 onwards backlog Advanced customer analytics Personalization Vehicle digital twin Customer support platform Omni-channel integration Digitized dealer of the future Transparency & steering Data & analytics applications in purchasing Backend automation R
Slide 24: Solutions expected to generate ~100M TRY/year cash after 3 years
Solutions expected to generate ~100M TRY /year cash after 8 years Impact of ~30M TRY investment all 44 solutions in the first 3 years ~100M TRY cash per • Self funding after 1,5 year year ~75M TRY ~25M TRY growth efficiency related related
Slide 25: Thank You – Q & A
THANK YOU – Q & A
Slide 26: Uyarı
Uyarı Dokümanlar ve eklerden oluşan bu sunumda (“Döküman”) yer alan tüm bilgiler, Doğuş Otomotiv Servis ve Ticaret A.Ş. (DOAŞ) hakkında bilgi, öngörü ve ifadeleri sunmak amacıyla DOAŞ tarafından hazırlanmıştır. Bu sunumdaki bilgilerin dogruluğu, yeterliliği ve eksiksizliği teminat edilmemiştir ve bu
Doğuş Otomotiv Servis ve Ticaret A.Ş. — Q2 2018 Earnings Presentation on 6ix