Turk Traktor Ve Ziraat Makineleri A.s. · BIST:TTRAK
Turk Traktor Ve Ziraat Makineleri A.s — Investor Presentation (August 2016)
24 slides from Turk Traktor Ve Ziraat Makineleri A.s's investor presentation, Aug 9, 2016
Slide 1: Analyst Meeting
Tuk HiaKtor Analyst Meeting 09.08.2016 @AKoc CNH == ASEM Sma: SASE
Slide 2: Our Company at a Glance
our COMPANY at a GLANCE Established in 1954, TürkTraktör is currently the biggest tractor manufacturer of Turkey The The 62 first years widest R&D center engineers & of experience product range and of Turkey 125technicians at TürkTraktör dealer network in tractor market in its sector R&D center* *as
Slide 3: Our Company at a Glance
our COMPANY at a GLANCE The The only main The manufacturing and producer of S8000 series engines main production center of engineering center New Holland TDD and for TDD series Case IH JX series transmissions tractors in the world The The only only design center of New manufacturing center of Hollan
Slide 4: Our Company at a Glance: Certifications
our COMPANY at a GLANCE TS ISO/IEC 27001 Information Security Management System Certificate ISO 10002 being the first certified company in ISO 14064 Greenhouse Customer Satisfaction Turkey in its sector Gas Emissions Reduction and Customer Standard and ISO 50001 Complaint Management Energy Managemen
Slide 5: Export Penetration
EXPORT PENETRATION Continuously increasing export penetration, Turkey’s biggest and the most diversified tractor exporter Tajiskistan Kyrgyzstan Nepal Niger Giunea Bangladesh Burkina Faso Benin WHERE AREN'T WE YET... 5
Slide 6: Highlights in 1H of 2016
HIGHLIGHTS in 1H of 2016 TürkTraktör CEO Marco Votta named as JANUARY Second Best-Performing CEO in a research conducted by Harvard Business Review in corporation with INSEAD Business School. MARCH İstanbul Construction Equipment Facilities opened in Gebze. MARCH New Holland TT4 series launched at K
Slide 7: Highlights in 1H of 2016
HIGHLIGHTS in 1H of 2016 JUNE Awarded the first prize by TİM, for having exported the greatest volume in the category of "Machinery and Components". JUNE According to the ISO 500 list, TürkTraktör kept its 24th place in 2015. JUNE JUNE 2nd anniversary of 400,000th Erenler Plant engine celebrated. ma
Slide 8: Highlights in 1H of 2016
HIGHLIGHTS in 1H of 2016 As of June 2016, in terms of 6 months period; total tractor production - 27.170 units total tractor sales - 24.819 units local tractor sales - 17.917 units total revenue - 1.823 mio TL local revenue - 1.293 mio TL have reached to record level. export revenue - 530 mio TL gro
Slide 9: Wide Product Range: Local Market
WIDE PRODUCT RANGE Tractor Series Sold to Local Market T7000 & T8 Magnum >140 HP Puma / AC** AC** CVX Puma 120-140 Maxxum T6000 CVX HP T6 / TR6 110 HP T5 Hi-Lo / Farmall U AC** Maxxum T5 / CVX Electro- Farmall U 105 HP Command PRO 98 HP 95 HP TD Delta T4 88 HP TDD JX Quantum F/V/N 80 HP N 78 HP 75 H
Slide 10: Wide Product Range: Export Market
WIDE PRODUCT RANGE Tractor Series Sold to Export Market 115 HP 110 HP 105 HP Utility Utility 98 HP Medium Medium 95 HP TDD (HC*) JX (HC*) 88 HP 85 HP TDD JX 80 HP TDF Straddle Straddle 78 HP (Narrow Orchard) 75 HP 72 HP Utility Utility 65 HP T3F Light Light Utility (Compact Light 55 HP Orchard) New
Slide 11: Global Tractor Sales Volume
GLOBAL TRACTOR SALES VOLUME (source: Systematics, thousand units) Europe North America China (%4) (%3) (%8) 236 230 159 152 282 298 92 95 60 60 170 156 2014 2015 2015/5 2016/5 2014 2015 2015/5 2016/5 2014 2015 2015/5 2016/5 Turkey India (%19) 59 67 587 25 29 478 178 200 2014 2015 2015/5 2016/5 Turke
Slide 12: Domestic Market
DOMESTIC MARKET (source: TURKSTAT traffic registration) Tractor Market Size (units) TürkTraktör Sales in Local Market (units) +9% +12% +8% 32.134 30.365 +15% 29.371 66.775 25.344 25.328 60.341 59.449 52.286 50.318 13.447 12.411 28.685 25.030 2011 2012 2013 2014 2015 2015/5 2016/5 2011 2012 2013 2014
Slide 13: Domestic Market: Production and Exports
DOMESTIC MARKET (source: TARMAKBİR) Local Production 2015/6 vs 2016/6 (units) TürkTraktör covers TürkTraktör TürkTraktör 27.170 71% 22.716 of the total production 2015/6 2016/6 in Turkey where 38.373 tractors were Other Manufacturers Other Manufacturers manufactured in 9.296 11.203 2016/6 Exportatio
Slide 14: Factors That Effect the Market
FACTORS THAT EFFECTING the MARKET (source: TURKSTAT, January 2011=100) Prices Stable government support to Fertilizer (cost index/kg) agriculture (billion TL) Feed (cost index/kg) Agricultural Pesticide (cost index/kg) Diesel (cost index/litre) 10,0 11,6 9,1 2014 2015 2016 It has been announced that
Slide 15: Financing of Agricultural Sector
FINANCING of AGRICULTURAL SECTOR (source: Ziraat Bank) Ziraat Bank Position in the Sector (mio TL) +134% 53.503 Ziraat Bank’s interest rate subsidy by 50% 45.865 will continue in 2016. 21.401 +202% 36.401 30.970 32.643 17.887 14.196 In January 2016, up to 50.000.-TL loans, 22.831 9.601 12.078 Ziraat
Slide 16: Tractor Market in Turkey
TRACTOR MARKET in TURKEY Tractor Park in Turkey Mechanization (equipment / tractor) 12.000 kg 4.200 kg 10 units 5 units 40+ years 25-39 years <25 years 202.397 units 544.936 units 879.605 units 1.626.938 >25 tractors in the average age current park 16
Slide 17: CE Sector in Turkey
CE SECTOR in TURKEY (Source: İMDER - Monthly Market Data) CE market of Heavy Line Compact Line TURKEY 10.983 Manufacturers Distributors 9.397 9.899 The +%4 5.256 fastest 4.917 5.464 6.072 6.329 growing market in the last 8 years 3.494 (after China and India) 3.286 5.727 6.5 billion $ 4.480 4.435 2.8
Slide 18: Operational Performance
OPERATIONAL PERFORMANCE Production (tractor - units) Production (engine - units) +20% 45.823 47.536 37.944 32.939 22.716 27.170 22.106 17.992 2014 2015 2015/6 2016/6 2014 2015 2015/6 2016/6 Sales (tractor - units) Sales (combine - units) Local Sales 45.893 47.124 Export Sales 14.122 +7% 15.866 24.81
Slide 19: Financial Performance
FINANCIAL PERFORMANCE Revenue (mio TL) Gross Profit (mio TL) 3.103 Local 400 21,7% 20,3% 25,0% 2.723 Export 350 20,9% 20,2% 938 18,9% 18,0% 20,0% 300 17,6% 17,2% 20,2% 20,4% 934 250 16,9% 1.823 16,6% 15,0% 1.491 530 200 Gross Profit 370 +28% Gross Margin 413 150 10,0% 2.164 268 1.790 100 172 181 190
Slide 20: Financial Performance
FINANCIAL PERFORMANCE Working Capital (mio TL) Net Financial Position (mio TL) 2014 2015 2015/6 2016/6 2014 2015 2015/6 2016/6 2014 2015 2015/6 2016/6 2014 2015 2015/6 2016/6 616 -389 -429 -582 441 582 -758 448 269 244 201 586 91 476 540 461 -217 -207 -201 -375 518 493 647 436 -442 -466 -581 -449 -5
Slide 21: Financial Performance
FINANCIAL PERFORMANCE Net Financial Position / EBITDA (mio TL) High Profitability Ratios 2014 2015 2015/6 2016/6 2014 2015 2015/6 2016/6 - - -0,2 100 -0,4 60% 200 -389 -429 -0,6 39% 37% 36% 300 -582 -0,8 13% 14% 12% 17% 400 -758 -1,0 -1,2 500 -1,2 -1,0 -1,4 2014 2015 2015/6 2016/6 600 -1,6 RoA* (*ro
Slide 22: Dividend
DIVIDEND Since listed in the stock exchange market, TürkTraktör paid the total amount of 1.9 billion TL dividend. 375 115% 117% 107% 110% 100% 101% 325 94% 300 300 300 87% 275 83% 90% 72% 75% 225 70% 200 200 54% 175 150 50% 40% 125 107 94 94 26% 30% 75 47 50 13% 15% 14% 8% 2% 10% 10% 7% 10% 8% 7% 10
Slide 23: Stock Performance
30.06.2015 27.07.2015 23.08.2015 19.09.2015 16.10.2015 BİST 100 12.11.2015 09.12.2015 05.01.2016 STOCK PERFORMANCE (30.06.2015=100) 01.02.2016 BİST 30 28.02.2016 26.03.2016 22.04.2016 19.05.2016 TTRAK 15.06.2016 12.07.2016 08.08.2016 -5% -5% BİST 30 BİST 100 +21% TTRAK 23
Slide 24: Analyst Meeting
Tun iaKtor Analyst Meeting 09.08.2016 @AKoc CNH == ASEM Sma: SASE
TürkTraktör ve Ziraat Makineleri A.Ş. — Investor Presentation (August 2016) on 6ix