Haci Omer Sabanci Holding A.s. · BIST:SAHOL
Haci Omer Sabanci Holding A.s — Hacı Ömer Sabancı Holding A.Ş. — Q3 2021 Earnings Presentation
22 slides from Haci Omer Sabanci Holding A.s's earnings presentation, Nov 5, 2021
Slide 1: Q3 2021 Earnings Presentation
Q3 2021 EARNINGS PRESENTATION November 5, 2021
Slide 2: Disclaimer
Disclaimer The information and opinions contained in this document have been compiled by Hacı Ömer Sabancı Holding A.Ş. (“Holding”) from sources believed to be reliable and in good faith, but no representation or warranty, expressed or implied, is made as to their accuracy, completeness or correctne
Slide 3: 9M 2021 Highlights
9M 2021 Highlights Strong top-line growth & profitability Solid operational cash flow generation & ongoing deleveraging High-teens consolidated ROE in line with our mid-term guidance Completion of Bunol Acquisition Initiated sale of PHILSA and PMSA shares Full consolidation of insurance companies Cl
Slide 4: Solid topline growth & strong profitability
9M 2021 / Solid topline growth & strong profitability... Combined Revenue* Combined EBITDA* Consolidated Net Income* (TL mn) (TL mn) (TL mn) Non-bank Non-bank** 20,824 Non-bank** Bank** 100,053 Bank Bank +33% +38% 5,787 +45% 75,314 36,164 15,138 10,492 4,000 3,215 27,818 6,904 2,004 63,888 47,495 10
Slide 5: Solid cash flow generation & ongoing deleveraging
9M 2021 / ...with solid cash flow generation & ongoing deleveraging… Operational Cash Flow, Combined for Non-Bank* Combined Net Financial Debt to Non-Bank EBITDA* (TL bn) CAGR: Annual: 3.7x 10.8 +28% +17% 9.5 3.1x 8.0 6.9 2.3x 2.2x 5.6 4.6 1.5x 4.1 1.4x 2016 2017 2018 2019 2020 9M 2020 9M 2021 2016
Slide 6: High-teens consolidated ROE in line with mid-term guidance
9M 2021 / …leading to a high-teens consolidated ROE in line with our mid-term guidance Return on Equity* Holding Only - Net cash position (TL bn) Non-Bank ROE : 17.5% 17.1% 16.7% Annual: +8% 16.8% 16.0% 16.2% 13.7% 13.1% 14.9% 2.6 14.5% 14.5% 13.9% 12.7% 12.2% 13.7% 13.6% 10.9% 10.9% 1.9 10.5% 1.7 1
Slide 7: Q3 Combined Revenues
Q3 Combined Revenues / Non-bank growth on accelerating volume growth and pricing flexibility Combined Revenue* (TL mn) Combined Revenue* Breakdown 43% 319 2,149 2,009 BUILD OTHER MAT. 1% 3,519 FIN. 6% SERV. 4,396 5% 647 1,197 INDUST. ENERGY 1,596 9% 33% OTHER* 2,239 BULD. MAT. FIN. SERV. 3,718 13,53
Slide 8: Q3 Combined EBITDA
Q3 Combined EBITDA / Improved bank contribution & operational efficiency in non-bank Combined EBITDA* (TL mn) Combined EBITDA* Breakdown 293 38 46% 253 244 BUILD. FIN. OTHER 704 SER. MAT 1% RETAIL** 6% 3% 3% ENERGY INDUSTRIALS 26% 77 278 10% 272 OTHER 211 450 BULD. MAT. 4,512 8.1 FIN. SERV. BN TL RE
Slide 9: Q3 Consolidated Net Income
Q3 Consolidated Net Income / Solid operational performance pass through & deleveraging Consolidated Net Income* (TL mn) Consolidated Net Income* Breakdown 106 40% 62 79 OTHER 5% 232 INDUSTRIALS ENERGY FIN. SERV. 18% 10% 3% RETAIL** 231 -1% OTHER 59 BUILD. MAT. 79 BULD. MAT. 14 138 1,396 3% 2.3 FIN.
Slide 10: Energy
Energy / Strong operating performance sustained despite elevated weakness in hydrology Energy Segment Summary Financials* MILLION TL Q3 2020 Q3 2021 Change 9M 2020 9M 2021 Change SALES 8,440 12,630 50% 23,580 30,355 29% Current Assessment EBITDA** 1,815 2,073 14% 5,423 5,884 8% Distribution & Retail
Slide 11: Industrials
Industrials / Profitability sustained on strong volumes & operational excellence Industrials Summary Financials* MILLION TL Q3 2020 Q3 2021 Change 9M 2020 9M 2021 Change SALES 2,239 3,519 57% 5,980 9,694 62% Current Assessment EBITDA** 450 704 56% 1,107 2,115 91% Continued solid demand in our tire &
Slide 12: Building Materials
Building Materials / Escalated cost side pressures partly offsetting by operational efficiency Building Materials Summary Financials* MILLION TL Q3 2020 Q3 2021 Change 9M 2020 9M 2021 Change Current Assessment SALES 1,197 2,149 79% 3,009 5,182 72% EBITDA** 278 293 5% 532 905 70% Domestic demand & ne
Slide 13: Retail
Retail / Growth in e-commerce continued Retail Summary Financials* MILLION TL Q3 2020 Q3 2021 Change 9M 2020 9M 2021 Change SALES 3,718 4,396 18% 9,348 11,584 24% Current Assessment EBITDA** 335 395 18% 688 937 36% Solid top line growth EBITDA**-Comparable 211 253 20% 318 518 63% NET INCOME** 17 -48
Slide 14: Financial Services (Insurance)
Financial Services (Insurance) / Life business continued offsetting weakness in non-life Financial Services (pension & insurance) Summary Financials* MILLION TL Q3 2020 Q3 2021 Change 9M 2020 9M 2021 Change SALES 1,596 2,009 26% 4,519 5,870 30% Current Assessment EBITDA** 272 244 -10% 778 784 1% Lif
Slide 15: Bank
Bank / Well positioned to remain healthy & profitable Summary Combined Financials MILLION TL Q3 2020 Q3 2021 Change 9M 2020 9M 2021 Change Achievements REVENUE 9,177 13,539 48% 27,818 36,164 30% Generated all time high net income EBITDA 2,473 4,512 82% 6,904 10,492 52% NET INCOME* 1,777 3,425 93% 4,
Slide 16: 9M 2021 Highlights
9M 2021 Highlights Strong top-line growth & profitability Solid operational cash flow generation & ongoing deleveraging High-teens consolidated ROE in line with our mid-term guidance Completion of Bunol Acquisition Initiated sale of PHILSA and PMSA shares Full consolidation of insurance companies Cl
Slide 17: Appendix
APPENDIX 17
Slide 18: Capital Allocation and Mid-term Guidance
Capital Allocation and Mid-term Guidance / Future Growth Underpinned By Capital Return and Sustainability 01 Growth 02 Capital Return 03 Sustainability Mid-term 2015-2020 targets Revenue growth CPI2 + 4% CPI1 + 8% Dividend policy Zero Waste 5%-20% of net income Net Zero Emissions by 2050 EBITDA3 gro
Slide 19: Financials in detail
Appendix / Financials in detail Combined Revenue* Combined EBITDA* Consolidated Net Income* MILLION TL Q3 2020 Q3 2021 Change 9M 2020 9M 2021 Change Q3 2020 Q3 2021 Change 9M 2020 9M 2021 Change Q3 2020 Q3 2021 Change 9M 2020 9M 2021 Change TOTAL 27,015 38,560 43% 75,314 100,053 33% 5,700 8,259 45%
Slide 20: Sabancı Holding Discount to NAV
Appendix / Sabancı Holding Discount to NAV USDmn September 2021 December 2020 Companies Direct Stakes Valuation Method Mcap Value of Stake % of NAV Value of Stake % of NAV NAV Discount Akbank 41% Market value 3,120 1,271 27.8% 1,978 33.6% Enerjisa Enerji 40% Market value 1,385 554 12.1% 796 13.5% Ak
Slide 21: IFRS16 Impact on Financials
Appendix / IFRS16 Impact on Financials In accordance with In IFRS16, most leased items with a duration longer than one year have to be included as an asset in the company books. In addition, the payments that will be made on the lease agreement have to be reported as a liability on the balance sheet
Slide 22: Investor Relations Contacts
INVESTOR RELATIONS CONTACTS Kerem TEZCAN Investor Relations Director For Further ktezcan@sabanci.com Details ir.sabanci.com Şule GENÇTÜRK KARDIÇALIOĞLU Investor Relations Specialist skardicalioglu@sabanci.com investor.relations@sabanci.com
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