Slide 1: Pınar Süt Earnings Presentation
Pınar Süt Earnings Presentation
Slide 2: Pınar Süt at a Glance
2017 PINAR SUT AT A GLANCE + moss — producers 550 m liter annual raw milk processing (2017) 357.000 m? total area 98.000 m? area ane”
Slide 3: Highlights
2017 HIGHLIGHTS %2 ˗ After three price increases, the raw milk base price completed 2017 with a 21.7% rise. ˗ Dairy market achieved volume and turnover growth. ˗ Pınar Süt launched many new products especially Pınar Protein Milk and Yoghurt. ˗ Pınar brand has been also re-elected as one of Turkey’s
Slide 4: Market Dynamics: Production and Cost
2017 MARKET DYNAMICS PRODUCTION AND COST Number of Milked Animals in Turkey Milk Production in Turkey 28.5 TSI TSI 24.6 25.5 25.2 23.9 20.7 18.2 18.6 18.7 18.5 +%13 +12% 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 Inflation and Raw Milk Prices Progress TSI, NMC - The raw milk base price 125 12
Slide 5: Market Dynamics: Consumption and Market
2017 MARKET DYNAMICS CONSUMPTION AND MARKET Share of Packaged Products Packaged Products Penetration IPSOS 49.6% 51.5% 94.5 95.0 95.9 93.3 43.7% 40.7% Milk Cheese Milk Cheese Dairy Market Turkey's Dairy Market Segments (Turnover) Milk, Cheese, Yoghurt, Ayran, Butter Butter, +13.6% Ayran, 8% +10.4% 5
Slide 6: Market Position
2017 MARKET POSITION Market Share in Dairy Market Market Shares Based on Products Milk, Cheese, Yoghurt, Ayran, Butter Nielsen, BIM Excl. Sales Value Nielsen, 2017, BIM Excl. 14.1% Product Share Position 13.0% 13.2% Total UHT Milk 30.3% #1 UHT Light Milk 62.5% #1 Enriched Milk (Kids) 82.6% #1 Total
Slide 7: Net Sales Breakdown
2017 FINANCIALS NET SALES BREAKDOWN Based on Product Other Groups 13% Fruit juice, sauce, other Dairy Products 87% Based on Sales Channel Export 13% 45.9 m Dollar Direct S. Arabia 26.9% 4% Kuwait 12.3% UAE 11.7% YBP - Yaşar Birleşik Qatar 10.1% Pazarlama is the Iraq 9.3% 83% distribution company Oth
Slide 8: Income Statement
2017 FINANCIALS INCOME STATEMENT 1/1/2017 1/1/2016 (Million TL) 12/31/2017 12/31/2016 Difference Change Net Sales 1,240.1 1,067.8 172.3 16.1% Cost of Goods Sold (1,043.3) (876.7) (166.6) 19.0% Gross Profit 196.8 191.1 5.6 3.0% R&D Expenses (12.0) (11.0) (1.0) 9.3% Sales, Distribution and Marketing (
Slide 9: Sales and Profitability - Annual
2017 FINANCIALS SALES AND PROFITABILITY - ANNUAL Net Sales Gross Profit Million TL Million TL 275.0 18.6% 16.8% 17.9% 20.0% 16.1% 15.9% 18.0% 225.0 16.0% 14.0% 175.0 12.0% 191.1 196.8 1,068 1,240 125.0 10.0% 940 1,011 8.0% 810 75.0 150.9 157.7 162.4 6.0% 4.0% 25.0 2.0% -25.0 0.0% 2013 2014 2015 2016
Slide 10: Sales and Profitability - Quarterly
2017 FINANCIALS SALES AND PROFITABILITY - QUARTERLY Net Sales Gross Profit 17.9% 17.2% 16.1% 15.9% 16.0% 12.3% 1,240 1,011 1,068 321 343 269 2015 2016 2017 3Q17 4Q17 4Q16 2015 2016 2017 3Q17 4Q17 4Q16 EBITDA* Net Profit 8.9% 6.2% 7.7% 5.6% 6.9% 7.1% 6.3% 3.8% 4.9% 3.4% 2.0% 1.7% 2015 2016 2017 3Q17
Slide 11: Financial Ratios
2017 FINANCIALS FINANCIAL RATIOS 2013/12 2014/12 2015/12 2016/12 2017/12 Current Ratio 1.70 1.47 1.65 1.67 1.21 Leverage Ratio 0.25 0.23 0.22 0.23 0.43 Current Borrowings/Total Borrowings (Fin.) 1.00 1.00 1.00 1.00 0.64 Net Fin. Borrowings/EBITDA - 0.28 - 0.02 0.02 0.04 1.69 Net Fin. Borrowings/Equi
Slide 12: Ownership Structure Pınar Süt (%)
2017 OWNERSHIP STRUCTURE SHAREHOLDING STRUCTURE OF PINAR SÜT (%) Shareholder Share Rate (%) Share Amount(TL) YAŞAR HOLDİNG A.Ş. 61.41 27,603,901.57 OTHER 38.59 17,347,149.68 Total 100.00 44,951,051.25 OTHER The company’s shares are traded at Borsa Istanbul Star Market under the ticker symbol PNSUT.
Slide 13: Disclaimer and Contact Information
2017 DISCLAIMER AND CONTACT INFORMATON This presentation does not constitute an offer or invitation to purchase or subscription for any securities and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. This presentation contains forward-