Pinar Sut Mamulleri Sanayii A.s. · BIST:PNSUT
Pinar Sut Mamulleri Sanayii A.s — Pınar Süt — H1 2018 Earnings Presentation
12 slides from Pinar Sut Mamulleri Sanayii A.s's earnings presentation, 2018
Slide 1: Pınar Süt Earnings Presentation 2018-H1
Pınar Süt Earnings Presentation 2018-H1
Slide 2: Pınar Süt at a Glance
2018-H1 PINAR SÜT AT A GLANCE %1 1
Slide 3: Highlights
2018-H1 HIGHLIGHTS 713.6 23.8% 60.9 million TL Net Sales million TL Net Sales Growth EBITDA 24.3 12.1 1,118 million USD million TL 2018-H1 Number of Export Sales Employees Capex • The raw milk %2base price has increased by 9.3% since the beginning of the year and determined as TL 1.70 starting from
Slide 4: Market Dynamics: Production and Cost
2018-H1 MARKET DYNAMICS PRODUCTION AND COST Number of Milked Animals in Turkey Milk Production in Turkey TSI, million TSI, million tonnes 28.5 25.5 25.2+13% 20.7 23.9 24.6 18.6 18.7 18.5 18.2 +12% 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 Inflation and Raw Milk Prices Progress TSI, NMC • The
Slide 5: Market Dynamics: Consumption and Market
2018-H1 MARKET DYNAMICS CONSUMPTION AND MARKET Share of Packaged Products Packaged Products Penetration IPSOS 92.2 92.6 93.3 93.2 50.8% 52.1% 37.5% 36.5% Milk Cheese Milk Cheese 2017-H1 2018-H1 Dairy Market Nielsen, BIM Exc. Sales Value Turkey's Dairy Market Segments (Turnover) Milk, Cheese, Yoghurt
Slide 6: Market Position
2018-H1 MARKET POSITION Market Share in Dairy Market Market Shares Based on Products Milk, Cheese, Yoghurt, Ayran, Butter Nielsen, BIM Excl. Sales Value Nielsen, 2018-6M, BIM Excl. 13.0% 13.2% 13.2% Product Market Share Position Total UHT Milk 29.9% #1 UHT Light Milk 60.8% #1 Enriched Milk (Kids) 83
Slide 7: Financials: Net Sales Breakdown
2018-H1 FINANCIALS NET SALES BREAKDOWN *Other Based on 10% Product Groups Dairy Products 90% *Fruit juice, sauce, other Based on Sales Channel Export 14% 24.3 million USD Direct S. Arabia 23.9% 6% Kuwait 10.9% Yaşar Birleşik UAE 10.6% Iraq 10.6% Pazarlama Qatar 8.7% 80% Other 35.3% 6
Slide 8: Financials: Income Statement
2018-H1 FINANCIALS INCOME STATEMENT (Million TL) H1-2018 H1-2017 Difference Change Net Sales 713.6 576.6 137.0 23.8% Cost of Goods Sold (592.4) (474.1) (118.3) 24.9% Gross Profit 121.2 102.4 18.8 18.3% R&D Expenses (5.9) (5.8) (0.0) 0.6% Sales, Distribution and Marketing (50.9) (46.6) (4.3) 9.2% Exp
Slide 9: Financials: Sales and Profitability - Quarterly
2018-H1 FINANCIALS SALES AND PROFITABILITY - QUARTERLY Net Sales Gross Profit 17.9% 18.2% 16.1% 15.9% 16.7% 15.7% 1,240 1,011 1,068 287 349 364 2015 2016 2017 2Q17 2Q18 1Q18 2015 2016 2017 2Q17 2Q18 1Q18 EBITDA* Net Profit 6.2% 6.0% 9.7% 5.6% 8.7% 7.7% 7.3% 6.9% 3.8% 5.9% 1.7% 0.9% 2015 2016 2017 2Q
Slide 10: Financials: Financial Ratios and Capital Expenditures
2018-H1 FINANCIALS FINANCIAL RATIOS 2015/12 2016/12 2017/12 2018/03 2018/06 Current Ratio 1.16 1.23 1.21 1.18 1.20 Leverage Ratio 0.34 0.36 0.43 0.46 0.45 Current Borrowings/Total Borrowings (Fin.) 0.93 0.56 0.64 0.68 0.57 Net Fin. Borrowings/EBITDA 0.35 0.74 1.69 1.72 1.32 Net Fin. Borrowings/Equit
Slide 11: Ownership Structure of Pınar Süt
2018-H1 OWNERSHIP STRUCTURE SHAREHOLDING STRUCTURE OF PINAR SÜT (%) Shareholder Share Rate (%) Share Amount(TL) YAŞAR HOLDİNG A.Ş. 61.41 27,603,901.57 OTHER 38.59 17,347,149.68 Total 100.00 44,951,051.25 OTHER The company’s shares are traded at Borsa İstanbul Star Market under the ticker symbol PNSU
Slide 12: Disclaimer and Contact Information
2018-H1 DISCLAIMER AND CONTACT INFORMATON This presentation does not constitute an offer or invitation to purchase or subscription for any securities and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. This presentation contains forwa