Turk Traktor Ve Ziraat Makineleri A.s. · BIST:TTRAK

Turk Traktor Ve Ziraat Makineleri A.s — Q2 2012 Earnings Presentation

27 slides from Turk Traktor Ve Ziraat Makineleri A.s's earnings presentation, Aug 8, 2012

  1. Slide 1: Analyst Meeting 08.08.2012

    ANALYST MEETING 08.08.2012 TÜRK TRAKTÖR VE ZİRAAT MAKİNELERİ A.Ş.

  2. Slide 2: Company Profile, Highlights, Operational & Financial Performance

    Company Profile Highlights Operational & Financial Performance

  3. Slide 3: Company Profile

    Company Profile Local Products Import Products • Tractors • Tractors (New Holland – Case IH brand (New Holland – Case IH brand) 56-TT-TD/JX-T480, Utility series) • Combines • Transmission • Cotton Pickers • Engine • Balers • Sprayers • Other Agricultural Equipments

  4. Slide 4: Shareholder Structure

    Company Profile KOÇ HOLDİNG A.Ş. Shareholder Structure  Among Turkey’s biggest Koç Holding A.Ş. holdings and having 37,50% CNH 37,50% leader positions in Energy, Automotive, Durable Goods and finance sectors, CNH Other 0,07%  Among World’s biggest producers in Agriculture and construction ISE Quot

  5. Slide 5: Company Profile: Solution partner of the farmers

    Company Profile Our aim is to be solution partner of the farmers to increase their profıtability and productivity. Our mission is; to be the company drives the modern agriculture. Being one of 9 R&D centers of CNH in the world, we are the only design center for New Holland TD and Case IH JX series t

  6. Slide 6: Turkey ranked 4th largest tractor market in 2011

    Company Profile In 2011, Turkey ranked the 4th largest tractor market in the world, and one out of every two tractors sold in Turkey, is manufactured by TürkTraktör We are developing our durable, high performance and ve fuel efficient products according to farmers’ expectations and specific needs. T

  7. Slide 7: Company Profile, Highlights, Operational & Financial Performance

    Company Profile Highlights Operational & Financial Performance

  8. Slide 8: Highlights

    Highlights Interest rates on agricultural loans granted by Ziraat Bank and other commercial banks have started to rise since the end of previous year. Agricultural credit subsidy rates quoted at the beginning of each year by Ziraat Bank, declared a little later in 2012 than other years. For this rea

  9. Slide 9: Highlights in 2011, Operational & Financial Performance

    Company Profile Highlights in 2011 Operational & Financial Performance

  10. Slide 10: Tractor Market in Turkey

    Tractor Market in Turkey 60.341 42.033 39.571 36.036 33.989 34.525 34.541 27.022 25.518 Units 21.545 18.639 13.758 10.587 8.127 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2011/5 2012/5 Source: TURKSTAT

  11. Slide 11: Tractor Market in Turkey

    Tractor Market in Turkey 000 52,0% 51,5% 49,9% 49,8% 50,3% 49,9% 50,4% 000 46,0% 12.755 11.914 000 37,7% 33,6% 000 17.221 5.644 28,6% 28,5% 16.042 8.482 25,8% 28,5% 24,9% 28,5% 000 4.459 5.502 21,6% 8.985 22,2% 23,5% 4.661 21,1% 21,6% 21,1% 000 15.886 9.066 7.310 3.549 6.131 16,3% 16,5% 3.061 000 13

  12. Slide 12: Domestic Tractor Sales Units

    Domestic Tractor Sales Units 8.451 %1 %13 %9 7.406 7.484 6.764 3Q2011 4Q2011 1Q2012 2Q2012

  13. Slide 13: Export Tractor Sales Units

    Export Tractor Sales Units 4.452 %30 3.755 %9 %48 3.421 2.535 3Q2011 4Q2011 1Q2012 2Q2012

  14. Slide 14: Total Tractor Sales Units

    Total Tractor Sales Units %17 23.808 20.293 Ex 7.873 %33 3.311 Ex %16 12.903 11.161 10.905 Ex 4.452 9.299 Ex 3.755 Ex 3.421 %35 Dom Ex 2.535 %31 16.982 Dom 15.935 %34 %84 %67 %27 6.764 Dom 7.406 Dom 7.484 Dom 8.451 Dom %65 %73 %66 %69 3Q2011 4Q2011 1Q2012 2Q2012 1H2011 1H2012

  15. Slide 15: Revenue (Million TL)

    Revenue (Million TL) %32 1.181 Ex 346 %29 894 140 Ex %16 646 535 484 Ex 196 Dom 423 Ex 150 %30 %71 Ex Ex %28 836 161 755 Dom %24 102 %33 %84 Dom Dom 450 Dom Dom 385 %70 320 323 %72 %76 %67 3Q2011 4Q2011 1Q2012 2Q2012 1H2011 1H2012

  16. Slide 16: Income Statement (Million TL)

    Income Statement(Million TL) 2011 2012 2Q2011 vs 2Q2012 1H2011 vs 1H2012 2Q 1H 3Q 4Q 1Q 2Q 1H Total Net Sales(TL) 504 894 423 484 535 646 1.181 28% 32% CoGS 365 642 326 407 425 503 928 38% 45% Gross Profit 138 252 96 76 110 143 254 3% 0% Operating Profit 110 202 69 40 78 106 184 -4% -9% Pre-Tax Prof

  17. Slide 17: Profitability (Million TL)

    Profitability (Million TL) 143 110 110 96 82 72 76 43 3Q2011 4Q2011 1Q2012 2Q2012 Gross Profit EBITDA

  18. Slide 18: Profitability Ratios

    Profitability Ratios 23% 22% 21% 17% 17% 16% 16% 16% 16% 15% 16% 15% 12% 9% 9% 8% 3Q2011 4Q2011 1Q2012 2Q2012 Gross Profit Margin Operating Profit Margin Net Profit Margin EBITDA Margin

  19. Slide 19: Balance Sheet (Million TL)

    Balance Sheet(Million TL) 2011 2012 4Q2011 vs 2Q2012 2Q2011 vs 2Q2012 (million TL) 2Q 3Q 4Q 1Q 2Q CURRENT ASSETS 807 918 1.069 1.261 1.210 13% 50% Cash and Cash Equivalents 143 181 245 311 255 4% 79% Trade Recievables 358 347 379 459 512 35% 43% Inventory 214 287 308 333 279 -9% 30% NON-CURRENT ASSE

  20. Slide 20: Net Financial Position (Million TL)

    Net Financial Position (Million TL) 50 1,00 13 200 mln TL dividend payment 10 0,80 0 0,60 -7 0,23 0,40 0,56 -50 0,20 0,00 0,04 0,03 0,02 -71 -100 -0,20 -0,40 -150 -0,60 -0,80 -173 -200 -1,00 3Q2011 4Q2011 1Q2012 2Q2012 02.07.2012 Net Financial Position Net Financial Position/EBITDA* * EBITDA , Last

  21. Slide 21: Net Working Capital (Million TL)

    Net Working Capital (Million TL) 102 mln TL trade receivables have been collected at the 486 beginning of July (note 19 Independent audit report) 439 407 373 384 3Q2011 4Q2011 1Q2012 2Q2012 02.07.2012

  22. Slide 22: Ratios

    Ratios 2,14 2,05 2,1 1,81 1,8 1,52 1,5 1,40 1,4 1,33 2Q2011 3Q2011 4Q2011 1Q2012 2Q2012 Current Ratio Quick Ratio

  23. Slide 23: Ratios

    Ratios 50% 48% 49% 41% 26% 23% 19% 20% 3Q2011 4Q2011 1Q2012 2Q2012 RoA* RoE* * Net Profit, Last 12 months.

  24. Slide 24: Capex (Million TL)

    Capex (Million TL) 74 74 14 14 15 15 20 22 22 22 22 10 9 8 8 6 6 22 7 7 22 22 2Q2011 3Q2011 Land 4Q2011 Land Machinery, Machinery, plant andplant 1Q2012 and equipment equipment in2Q2012 Investment Investment in Progress Other Progress Other

  25. Slide 25: Share Performance

    07.01.2011 14.01.2011 21.01.2011 31.01.2011 04.02.2011 11.02.2011 18.02.2011 28.02.2011 04.03.2011 11.03.2011 18.03.2011 25.03.2011 31.03.2011 07.01.2011 = 100 01.04.2011 12.04.2011 20.04.2011 26.04.2011 27.04.2011 29.04.2011 06.05.2011 Share Performance 09.05.2011 13.05.2011 31.05.2011 10.06.2011 1

  26. Slide 26: Disclaimer

    Disclaimer This presentation includes certain forward-looking statements reflecting the views of company management about the future. Although it is believed that the expectations reflected in this presentation is reasonable, these expectations could be affected by possible changes of variables and

  27. Slide 27: Questions & Answers

    QUESTIONS & ANSWERS TÜRK TRAKTÖR VE ZİRAAT MAKİNELERİ A.Ş.

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