Slide 1: Koç Holding 1H12 Earnings Presentation
Koç Holding 1H12 Earnings Presentation 29 August 2012
Slide 2: Financial Performance
Financial Performance Revenues TL40,758mn (US$22,718mn) 21% YoY increase in TL terms and 5% in US$ terms Operating Profit TL1,978mn (US$1,102mn) 27% YoY decrease in TL terms and 37% in US$ terms (0.2% YoY decrease in TL terms if major one-off items are excluded) EBITDA TL2,556mn (US$1,425m
Slide 3: Main Financial Indicators
Main Financial Indicators € Mn* US$ Mn* TL Mn TL Mn Change Change 30.Jun.2012 30.Jun.2012 30.Jun.2012 30.Jun.2011 %, TL %, US$ Revenues 17,515 22,718 40,758 33,756 p 21 p 5 Gross Profit 2,279 2,955 5,302 5,161 p 3 q -10 EBITDA 1,099 1,425 2,556 3,222 q -21 q -31 Operating Profit 850 1,102 1,978 2,72
Slide 4: Strong Revenue Growth Across All Sectors except Automotive
Strong Revenue Growth Across All Sectors except Automotive Revenues – TLmn Share of Segment Revenues – % 21% 40,758 33,756 Energy 62% Automotive 12% Durables 13% 1H11 1H12 Finance Other 5% 9% Segment Contribution to Revenues – TLmn 23% 25,409 20,682 -3% 37% 25% 22% 4,977 4,827 5,179 3,784 2,789 3,47
Slide 5: Normalized Operating Profit is In-line with 2011 Figures Despite the Slowdown in Economic Activity
Normalized Operating Profit is In-line with 2011 figures Despite the Slowdown in Economic Activity Operating Profit – TLmn Segmental Operating Profit Breakdown – % 2,723 -27% Automotive 20% -0.2% 1,978 Durables 21% 1,981 Energy Excl. one- off items 22% Other 1H11 1H12 3% Finance 33% Segment Contribu
Slide 6: 3% YoY Increase in Profit Before Tax when Adjusted for One-off Items
3% YoY Increase in Profit Before Tax when Adjusted for One-off Items Profit Before Tax – TLmn Segmental Profit Before Tax Breakdown – % -17% Automotive 2,537 18% 2,099 +3% Energy Durables 32% 16% 2,042 Excl. one-off items Other 1H11 1H12 4% Finance 31% Segment Contribution to Profit Before Tax – TLm
Slide 7: Balanced Diversification Among Core Sectors in EBITDA
Balanced Diversification Among Core Sectors in EBITDA EBITDA – TLmn Segmental EBITDA Breakdown – % 3,222 -21% Automotive 21% 2,556 +3% Durables Energy 21% 2,481 25% Excl. one-off items Other 1H11 1H12 4% Finance 28% Segment Contribution to EBITDA – TLmn EBITDA Margin by Segment – % -53% 1,347 -13% 2
Slide 8: Sustained Export Growth Despite Difficulties in the European Market
Sustained Export Growth Despite Difficulties in the European Market Combined Exports – US$mn Consolidated Exports – US$mn 10% 8,036 10% 5,564 7,297 5,068 1H11 1H12 1H11 1H12 Combined International Sales – US$mn Consolidated International Sales – US$mn 11% 9,421 11% 6,490 8,479 5,837 1H11 1H12 1H11 1
Slide 9: Continuing Investment Appetite in line with Sustainable Growth Strategy
Countinuing Investment Appetite in line with Sustainable Growth Strategy Combined Investments – TLmn Segmental Investments Breakdown – % 116% 1,816 Energy Automotive 42% 36% 840 Other 1H11 1H12 Finance Durables 6% 6% 10% www.koc.com.tr 9
Slide 10: Slight Decline in YoY Normalized Margins due to Stronger than Anticipated Revenue Growth
Slight Decline in YoY Normalized Margins due to Stronger than Anticipated Revenue Growth Operating Margin – % Profit Before Margin – % 8.1 7.5 5.2 4.9 6.0 5.9 Excl. Excl. one-off one-off items items 1H11 1H12 1H11 1H12 Net Income Margin – % 3.4 2.5 2.8 Excl. one-off items 1H11 1H12 www.koc.com.tr 10
Slide 11: Stronger Net Cash Position at the Holding level
Stronger Net Cash Position at the Holding level Koç Holding Stand-Alone 30.06.2012 Net Cash Position Total Debt: ~US$ 0.08 bn Total Cash: ~US$ 0.78 bn Net Cash: ~US$ 707 mn 2013 Redemption Schedule US$ 75 mn – to be paid in January Consolidated Net Debt / Cash Excl. Finance 1Q12 1H12 ~US$ -2.0bn ~US
Slide 12: Sustained Resilience Against FX Volatility
Sustained Resilience Against FX Volatility Koç Holding Stand-Alone FX Position 1Q12 1H12 US$ + 242mn US$ + 222mn Koç Holding Consolidated FX Position FX Position Weighted by Effective Ownership 1Q12 1H12 1Q12 1H12 US$ - 4.2bn US$ - 3.6bn* US$ - 1.9bn US$ - 1.8bn * The natural hedging mechanisms due
Slide 13: Disclaimer
Disclaimer This presentation does contain forward-looking statements that reflect the Company management’s current views with respect to certain future events based on the base-case assumptions. Although it is believed that the expectations reflected in these statements are reasonable, they may be a
Slide 14: Shareholder Structures as of June 2012
Shareholder Structures as of June 2012 Koç Holding Koç Family: 68.51% Free Float: 22.35% Vehbi Koç Foundation: 7.15% Koç Pension Fund: 1.99% Consumer Energy Automotive Finance Other Durables Tüpraş Ford Otosan Arçelik Tat Konserve SPV share: 51.00% KH share: 38.46% Koç Financial Services KH share: 4
Slide 15: For Further Questions, Please Contact
For Further Questions, Please Contact : investorrelations@koc.com.tr Funda Güngör Akpınar, Coordinator Winner 2010 Best IR Investor Relations Website Award fundag@koc.com.tr +90 216 531 0535 Neslihan Aycıl, Associate Investor Relations neslihana@koc.com.tr +90 216 531 0516 Winner World Finance - Tur