Is Finansal Kiralama A.s. · BIST:ISFIN
Is Finansal Kiralama A.s — Q3 2016 Earnings Presentation
24 slides from Is Finansal Kiralama A.s's earnings presentation, Sep 30, 2016
Slide 1: Investor Presentation
Investor Presentation 30 September 2016
Slide 2: Leasing Sector in Turkey
Leasing Sector in Turkey
Slide 3: Leasing
LEASING VAT is %1 for various types of machinery. Operating Leases and Sale-and-lease back has been added to core product Finance Leases since 2013. Sale-and-lease back demand is strong and supporting business volumes. Expertise on SMEs, consultancy and know-how support in addition to funding. FX bo
Slide 4: Turnover
TURNOVER Leasing penetration is still at low levels compared to EU average of 15% and North New Leasing volume of the sector America average of 18%. Penetration * Million USD 7637 6990 6365 5360 4891 4408 3182 2198 2009 2010 2011 2012 2013 2014 2015 2016 Q3 *Leasing volume/ Private sector fixed inve
Slide 5: Company Overview
Company Overview
Slide 6: Milestones & Ownership
MILESTONES & OWNERSHIP • Financial leasing law enacted in 1985. • İş Leasing established in 1988 by NEMTAŞ CAMİŞ 0,83% 0,07% İş Bank, IFC and Societe Generale. İŞ BANK FREE 27,79% • IFC and SocGen transferred FLOAT 42,67% leasing know-how and expertise, İş Bank branches provided access to the market
Slide 7: Participations
PARTICIPATIONS Ownership Rate Equity Participations (%) Efes Varlık Yönetimi A.Ş 10.00 İş Yatırım Menkul Değerler A.Ş. (IS Invest) 4.86 İş Net 1.00 İş Girişim Sermayesi Y.O A.Ş. 0.89 Yatirim Finansman A.Ş. 0.06 Ownership Rate Subsidiaries (%) İş Factoring Finansman Hiz. A.Ş. 78.23 7
Slide 8: Organization Chart
iS LEASING ORGANIZATION CHART BOD Internal Audit Investor and Risk ee Management elations CEO Treasury and Financial Institutions Credit1&2 Risk Marketin, . Monitoring Financial Management HR& Administration Operations Legal Affairs Purchasing
Slide 9: Lease Portfolio
Lease Portfolio
Slide 10: Sales Channels
SALES CHANNELS SALES TEAM 18% VENDORS 11% İŞBANK BRANCHES 71% 1,352 local and 23 foreign branches, largest network among private banks 10
Slide 11: Sectoral Distribution, %
SECTORAL DISTRIBUTION , % 22,8 21,9 2015 2016 Q3 16,2 15,2 10,4 10,4 9,1 9,0 6,9 7,6 5,5 4,4 5,2 3,8 4,5 4,1 3,1 2,8 3,8 3,5 4,6 3,2 3,4 2,8 2,5 3,3 3,4 2,3 2,7 1,7 11
Slide 12: Asset Distribution, %
ASSET DISTRIBUTION , % 36,0 2015 2016 Q3 34,7 26,2 25,2 17,1 14,8 6,1 6,0 4,4 4,6 3,8 3,8 1,8 1,7 2,4 2,4 2,1 2,4 1,2 1,0 1,2 1,2 12
Slide 13: Geographical Distribution
GEOGRAPHICAL DISTRIBUTION MARKETING & BRANCHES SALES STAFF ANKARA BURSA OTHER 13% 3% Head Office 3 19% İZMİR Istanbul (A) - Kozyatağı & Gebze 8 5% Istanbul (E) - Şişli & Avcılar 10 KONYA Ankara & Central Anatolia 5 3% ANTALYA Çukurova 3 2% South Anatolia 5 ANTEP REG. HATAY Marmara 3 5% 3% Aegean 5 M
Slide 14: Currency Distribution
CURRENCY DISTRIBUTION TL 37% 2016 Q3 USD 26% EUR 36% TL 36% 2015 USD 32% EUR 33% TL 34% 2014 USD 35% EUR 31% 14
Slide 15: Maturity Distribution
MATURITY DISTRIBUTION 2015 2016 Q3 LEASES LEASES BORROWINGS BORROWINGS 27 27 23 24 21 19 20 13 18 8 6* 3* USD EUR TRY USD EUR TRY average, months *TRY, funded by Shareholders’ equity is not included in the calculation. 15
Slide 16: Funding Policy
FUNDING POLICY Outstanding local bond issuances are 898 million TRY (nominal value). Maturities are from 6 months to 18 months. Bilateral lines from local and multinational banks, IFI funds such as; IFC renewable energy and energy efficiency facility, World Bank EFIL- SME loans, CEB SME loans, BSTDB
Slide 17: Financial Performance
Financial Performance
Slide 18: Financial Highlights
FINANCIAL HIGHLIGHTS 31 December 31 December 30 September TRY Million, consolidated 2014 2015 2016 Leasing Receivables, Net 2,841 3,287 3,501 Factoring Receivables, Net 1,433 1,951 2,425 Non Performing Receivables 160 183 191 Provisions 104 140 150 Total Assets 4,580 5,581 6,399 Financial Liabilitie
Slide 19: Balance Sheet (consolidated)
BALANCE SHEET (consolidated) mio TL Million TRY 31.12.2014 31.12.2015 30.09.2016 31.12.2014 31.12.2015 30.09.2016 Current Assets Current Liabilities Cash and Cash Equivalents 180.2 225.7 365.0 Short Term Liabilities 2292.0 3795.9 4215.5 Trading Securities(net) - - - Trade Payables 38.5 49.8 40.5 Lea
Slide 20: Income Statement (consolidated)
INCOME STATEMENT (consolidated) 000 TL Million TRY 31.12.2014 31.12.2015 30.09.2016 Interest Income 186,567 264,839 207,024 Interest Expense -200,485 -284,800 -226,068 Foreign Currency Gains/(Losses) 74,273 68,533 41,717 Total 60,355 48,572 22,673 Factoring Income 89,248 134,492 121,696 -40,340 -46,
Slide 21: NPL
NPL Consolidated 31.12.2013 31.12.2014 31.12.2015 30.09.2016 Gross NPL /Total Receivables 3,80% 3,70% 3,40% 3,14% Net NPL / Net Receivables 1,80% 1,30% 0,83% 0,69% 180.000 000 TL LOSS RESERVE 160.000 2016 Opening (139,750) 140.000 Reversals 2,500 120.000 New provisions (12,805) 151-240 Write-off (*)
Slide 22: Collaterals
COLLATERALS* Leased assets are legally possessed by the lessor so they are the collateral of the leasing loan. Depending on the lessee’s credit ratings and second hand value of the leased asset, additional collaterals might be demanded. Cash + LG + Collaterals Pledge + Mortgage Buyback 5,59% 5,35% p
Slide 23: Ratings
RATINGS Foreign Currency Long-Term IDR BBB - Short-Term IDR F3 Outlook Negative Local Currency Long-Term IDR BBB - Short-Term IDR F3 Outlook Negative National Long-Term Rating AA + (tur) Outlook Stable Support Rating 2 23
Slide 24: Disclaimer
DISCLAIMER The information in this document has been obtained by İş Finansal Kiralama A.Ş. (“İş Leasing”) from sources believed to be reliable, however, İş Leasing can not guarantee the accuracy, completeness, or correctness of such information. This document has been issued for information purposes
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