Migros Ticaret A.s. · BIST:MGROS
Migros Ticaret A.s — FY2012 Earnings Presentation
15 slides from Migros Ticaret A.s's earnings presentation, April 2013
Slide 1: Migros Ticaret A.Ş. 2012 Financial Results
Migros Ticaret A.Ş. 2012 Financial Results April 2013 39% Online business Sales CAGR in the last 4 years
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 Balance Sheet Overview Structure Kanyon Macrocenter , İstanbul Performance Strategy Summary Update Guidance Appendix Beylikduzu Migros, İstanbul 2
Slide 4: Sales in 2012
Sales in 2012 Consolidated sales reached TL 6,482 million vs. TL 5,753 million last year corresponding 12.7% top-line growth. Topline sales foregone with the divestiture of discount business have been recuperated with more profitable supermarket operations in just two years. Migros increased i
Slide 5: Expansion: Accelerated Store Openings
Expansion: Accelerated Store Openings Domestic Sales Area Split by Format –2012 By the end of 2012 ; .166 stores, including 159 supermarkets, 2 hypermarkets and 5 Ramstores have been added to the network. Our total network of 882 stores covers 69 cities out of 81 Number of Stores - Total Constru
Slide 6: Financial Overview in 2012
Financial Overview in 2012 Solid Gross Profit Generation Solid EBITDA Generation Gross profit increased by 14.1% y-o-y to EBITDA increased by 8.0% y-o-y to TL 430 TL 1.705 million, which corresponds to a million and the Company delivered 6.6% EBITDA margin of 26.3% in 2012. margin exceeding 2012
Slide 7: Healthier Balance Sheet Structure
Healthier Balance Sheet Structure Sustainable EBITDA generation EBITDA Higher Better working Improved Negative Cash Conversion Cycle** profitability capital mgmt • Continuous • Improvements on Sustainable expansion FMCG products Working replenishment & profitable • EDLP for PLs Capital • Further foc
Slide 8: Performance Summary 2012
Performance Summary 2012 Migros sustained double digit profitable top-line growth thanks to the effectiveness of its strategies in the last two years. Performance Performance vs Indicator 2011A Target 2012A Guidance Expansion Program (Number of NEW Stores) 77 100-150 166 Top-Line Sales Growth 11.5
Slide 9: Strategy Update: Proximity Store Concept
Strategy Update: Proximity Store Concept On top of the existing strong supermarket expansion plan, the Company started to focus on small sized proximity stores. Number of stores: 78 Store size between 150-350 sqm High traffic regions and residential areas Around 3,000 SKUs Rich fresh assor
Slide 10: Strategy Update: Well positioned in accelerating trading up
Strategy Update: Well positioned in accelerating trading up Targeting evolving new modern Turkish consumer Gourmet shopping and exclusive Committed to exceed the expectations of sophisticated A world citizen shoppers today Upscale gourmet store serving a niche, selective customer Likes to travel
Slide 11: Strategy Update: International expansion through proven regional experience
Strategy Update: International expansion through proven regional experience Ramstore International Operations Kazakhstan and Macedonia (TL mm) 2011 2012 Net sales 352 396 Gross Profit 85 99 Gross Margin 24.2% 25.0% EBITDA 29 33 EBITDA margin 8.1% 8.4% Retail market leader with multi-formats in Kaz
Slide 12: Guidance 2013 and Medium Term
Guidance 2013 and Medium Term .Sales growth : Double digit sales growth . Gross profit : Full year gross margin range 25.5% – 26.0% . EBITDA margin : Full year EBITDA margin range 6.0% – 6.5% . Expansion target : 100-150 supermarkets and 2-3 hypermarkets per year Present cities Cities not co
Slide 13: Appendix
Appendix
Slide 14: Summary of Income Statement - 2012
SUMMARY OF INCOME STATEMENT - 2012 IFRS Consolidated Income Statement Summary Change (Million TL) 2012 2011 (%) Net Sales 6,482.4 5,753.1 12.7 Cost of sales -4,777.1 -4,258.6 12.2 Gross Profit 1,705.3 1,494.5 14.1 Operating Expenses -1,435.7 -1,241.8 15.6 Operating Profit Before Other Operating Inco
Slide 15: Summary of Balance Sheet - 2012
SUMMARY OF BALANCE SHEET - 2012 IFRS Consolidated Balance Sheet Summary (Million TL) 2012 2011 Current Assets 1,908.6 1,788.3 Non-current Assets 3,715.8 3,692.7 Total Assets 5,624.3 5,481.0 Current Liabilities 1,875.1 1,578.7 Non-current Liabilities 2,487.1 2,706.6 Total Liabilities 4,362.3 4,285.3