Migros Ticaret A.s. · BIST:MGROS
Migros Ticaret A.s — Q1 2015 Earnings Presentation
21 slides from Migros Ticaret A.s's earnings presentation, 2015
Slide 1: Migros Ticaret A.Ş. 1Q 2015 Financial Results
Migros Ticaret A.Ş. 1Q 2015 Financial Results
Slide 2: Disclaimer Statement
Disclaimer Statement Migros Ticaret A.Ş. (the “Company”) has prepared this presentation for the sole purpose of providing information about its business, operations and financial results. The information in this presentation is subject to updating, revision and amendment. The information in this pre
Slide 3: Contents
CONTENTS Sales Expansion Financial Key Financial Overview Metrics Macrocenter Akasya Recent Guidance Developments Financial Format Results Summary 2
Slide 4: Sales in 1Q 2015
Sales in 1Q 2015 A robust domestic growth rate of 18.6% in 1Q 2015. Consolidated sales reached TL 2,074 million in 1Q 2015 corresponding to yearly growth rate of 17.0%. Strong sales performance supported by increased competitiveness on Private Label & fresh products in 1Q 2015. Migros’ diffe
Slide 5: Expansion
Expansion Net Sales Area Split By Banner - 1Q15 New store openings in 1Q15 46 Small/mid/large supermarkets New store openings in 2014 199 Small/mid/large supermarkets Number of Stores as of 1Q15 1,227 Compact hypermarkets Number of Stores - Total Mid/large 1,227 1,190 supermarkets 1,017 1,004 Mid/la
Slide 6: Financial Overview: Gross Profit in 1Q 2015
Financial Overview: Gross Profit in 1Q 2015 Solid Gross Profit Generation Gross profit increased by 17.3% y-o-y to TL 560 million with a margin of 27.0% in 1Q 2015. A strong and resilient gross profitability while keeping the focus on growth and supply chain management. Quarterly Gross Profit (T
Slide 7: Financial Overview: EBITDA(R) in 1Q 2015
Financial Overview: EBITDA(R) in 1Q 2015 Solid EBITDA(R) Generation EBITDA grew by 16.0% y-o-y to TL 134 million, and EBITDAR by 16.6% y-o-y to TL 242 million in 1Q 2015. Quarterly EBITDA* (TL million) EBITDA* (TL million) 134 532 115 469 1Q 2014 1Q 2015 2013 2014 Margin 6.5% 6.4% Margin 6.6% 6.5%
Slide 8: Key Financial Metrics
Key Financial Metrics Sustainable Sales Growth Sustainable EBITDA generation (mn TL) (mn TL) Sales EBITDA (*): excluding divested operations (*): excluding divested operations Stable Negative Cash Conversion** Net Debt/EBITDA LTM Working Net Debt / Capital EBITDA (*): including divested operations (
Slide 9: Recent Developments
Recent Developments Competitiveness Significant emphasis on price competitiveness in Private Label and Fresh Product Categories in 1Q2015, Specific marketing communication on pricing and local offer, Getting closer to the consumers with the expansion of proximity stores, Brands catering for
Slide 10: Recent Developments: Refinance of the existing loan
Recent Developments Refinance of the existing loan Refinancing of Company's current debt of EUR 830 million; EUR 730 million, EUR 100 million equivalent of TL, 8 years maturity and semi-annual interest payment and amortization, An additional EUR 100 million working capital facility committ
Slide 11: Guidance 2015
Guidance 2015 .Sales growth : Double digit sales growth EBITDA margin : Full year EBITDA margin range 6.0% – 6.5% .Expansion target : 150 - 200 new stores Present cities Cities not covered 10
Slide 12: Financials & Format Summary
Financials & Format Summary - Financials - Operations
Slide 13: Summary of Income Statement – 1Q 2015
SUMMARY OF INCOME STATEMENT – 1Q 2015 IFRS Consolidated Income Statement Summary (TL Million) 1Q 2015 1Q 2014 Net Sales 2,074.0 1,772.5 Cost of sales -1,514.4 -1,295.2 Gross Profit 559.6 477.3 Operating Expenses -481.2 -413.7 Other Operating Income / (Expense) -21.2 -16.4 Operating Profit 57.2 47.2
Slide 14: Summary of Balance Sheet – 1Q 2015
SUMMARY OF BALANCE SHEET – 1Q 2015 IFRS Consolidated Balance Sheet Summary (TL Million) 1Q 2015 2014 Current Assets 1,815.5 1,729.2 Non-current Assets 3,860.1 3,864.3 Total Assets 5,675.7 5,593.5 Current Liabilities 2,771.0 2,715.9 Non-current Liabilities 1,968.2 1,958.4 Total Liabilities 4,739.2 4,
Slide 15: Migros
Migros Largest National Supermarket Chain Number of stores: 916* ─ (40*-3,000) sqm / (1,800* – 18,000) SKUs ─ Broad variety of fresh food products ─ Wide branded assortment of FMCG products ─ Modern, fashionable, complementary and seasonal non- food selection CRM applications for different custo
Slide 16: Migros Jet
Migros Jet Fastest growing proximity stores Store size between 40*-300 sqm, 297 stores as of March 2015 Room for further concentration in the existing big cities and expansion into others. Migros Jet network reached 35 cities. Between 1,800* and 3,000 SKUs ─ Consistent Every Day Low Pricing on
Slide 17: Tansaş
Tansaş Regional leader of the west coast Number of stores: 213 150-1,500 sqm / 3,000 – 15,000 SKUs ─ A strong regional brand & competitive pricing strategy ─ Diverse fresh food emphasis on meat and F&V ─ Friendly service / warm and localized layout Penetration: 6 cities 16
Slide 18: Macrocenter
Macrocenter Exclusive shopping Number of stores: 29 400 - 2,500 sqm / 10,000 SKUs ─ Upscale gourmet store serving with strong brand loyalty ─ Elegant design and store layout ─ Wide product range in delicatessen, appetizers and spirits. Premium quality in fresh products ─ Complementary and premiu
Slide 19: 5M Migros
5M Migros Lowest prices and wide assortment Number of stores: 24 Average size 4,500 sqm / 25,000 SKUs ─ Wide product range; rich FMCG and non-food assortment ─ N/F product portfolio focusing on kids & women; especially kitchenware & household textile, toys and cosmetics ─ Competitive pricing 1
Slide 20: Wholesale & Food Service
Wholesale & Food Service Focus on Horeca Penetration Currently operating in 7 regions through dedicated sales team. Dedicated warehouses and customer delivery Penetration: 7 regions 19
Slide 21: International Operations
International Operations Kazakhstan Macedonia Number of stores: 29, including 4 hypermarkets, 24 Number of supermarkets: 16 supermarkets and 1 Macrocenter. Owns 1 shopping mall in Almaty Owns 1 shopping mall in Skopje Total sales area of 50,734 sqm Total sales area of 15,313 sqm ─ Serving