Haci Omer Sabanci Holding A.s. · BIST:SAHOL

Haci Omer Sabanci Holding A.s — Hacı Ömer Sabancı Holding A.Ş. — Q2 2012 Earnings Presentation

23 slides from Haci Omer Sabanci Holding A.s's earnings presentation, 2012

  1. Slide 1: 2012 Q2 Earnings Presentation

    2012 Q2 Earnings Presentation 1

  2. Slide 2: Disclaimer Statement

    Disclaimer Statement 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 t ti or warranty, t expressed d or iimplied, li d is i made d as to t their th i

  3. Slide 3: Turkey Macro Outlook Update-Q2 2012

    Turkey Macro Outlook Update-Q2 2012 • Sharp slowdown in the rate of growth in Q1 due to weak domestic demand • Mild recovery in domestic demand in Q2 mostly through consumer demand • Exports are also up in Q2 • Quarterly seasonally adjusted industrial production expanded by 1.3% quarter over quarter

  4. Slide 4: 2012 Expectations

    2012 Expectations 2011 2012(P) GDP Growth,% , 8.5 3.5 Increase in CPI (%), annual 10.45 6.5 USD/TL year end USD/TL, 1 89 1.89 1 85 1.85 Budget Deficit/GNP, % (1.4) (2.0) Bond Interest, year end, % 11.1 8.2 Current Acc. Balance/GNP, % (10.0) (7.9) Moderate growth, stable FX environment, low inflation

  5. Slide 5: Results Snapshot-2012 Q2

    Results Snapshot-2012 Q2 BANK NON-BANK 5,321 6,480  Very strong banking Consolidated 3 128 3,128 revenue e en e ggrowth: o th 28% 2,710 Net Sales  Revenue growth in all 3,352 non-bank segments (Million TL) 2,611 resulting in 15% overall growth 2011 Q2 2012 Q2 1,144** 1,122 , ** 279 322  Flat EBIT

  6. Slide 6: Calculation of EBITDA and Net Income Excluding Non-Operational Items

    Calculation of EBITDA and Net Income Excluding Non Non-Operational Operational Items 2011 Q2 2012 Q2 SALES 5.321 6.480 EBITDA 1.487 1 487 1.122 1 122 Non operational items 343 - Gain on sale of Aksigorta 249 - Tax penalties - Reversal of impairment of Advansa BV 72 - Loss on sale of Advansa BV (38)

  7. Slide 7: Non-bank Results-Q2

    Non-bank Results-Q2 ENERGY RETAIL INSURANCE 3,128 INDUSTRY CEMENT OTHER 2,710 505 358 Consolidated 870  Strong revenue 703 15% Net Sales 337 377 growth mainly through energy and retail (Million TL) 1 189 1.189 1 209 1.209 2011 Q2 2012 Q2 279 322 57 78 EBITDA 29 15% 33  Non-bank segment 80 95 EBITD

  8. Slide 8: Energy

    Energy % MILLION TL 2011 Q2 2012 Q2 Change SALES (NET) 400 556 39,2 COST OF SALES (320) (459) 43,5 OPERATIONAL EXPENSES (47) (45) (3,4) OTHER INCOME/(EXPENSE) 2 1 (55,2) OPERATING INCOME 36 53 49,4 EBITDA 57 78 36,7 EBITDA EXCLUDING NON 57 78 36,7 OPERATIONAL ITEMS EBITDA Margin (%) 14,3% 14,0% Stro

  9. Slide 9: Enerjisa P&L

    Enerjisa P&L % MILLION TL 2011 Q2 2012 Q2 Change SALES (NET) 800 1 113 1.113 39 2 39,2 EBITDA 114 156 36,7 NET INCOME (79) 98 225 2 225,2 EBITDA Margin g ( (%) ) 14,3% , 14,0% , Strong demand growth and increasing prices…. Generation&Trading Sales Volume (Gwh) Distribution Business Retail Sales(Gwh)

  10. Slide 10: Enerjisa Balance Sheet

    Enerjisa Balance Sheet % MILLION TL 31.12.2011 30.06.2012 Change CASH AND CASH EQUIVALENTS 307 475 54,5 TRADE RECEIVABLES 460 543 18,2 OTHER CURRENT ASSETS 457 490 7,2 TOTAL CURRENT ASSETS 1.224 1.508 23,2 PROPERTY, PLANT AND EQUIPMENT 4.309 4.857 12,7 INTANGIBLE ASSETS 1.992 1.966 (1,3) OTHER NONCU

  11. Slide 11: Retail

    Retail % MILLION TL 2011 Q2 2012 Q2 Change SALES (NET) 704 871 23,8 COST OF SALES (550) (689) 25,4 OPERATIONAL EXPENSES (142) (166) 17,0 OTHER INCOME/(EXPENSE) 3 3 (4,1) OPERATING INCOME 15 19 22,6 EBITDA 29 33 14,4 EBITDA EXCLUDING NON 29 33 14 4 14,4 OPERATIONAL ITEMS EBITDA Margin (%) 4,2% 3,8% T

  12. Slide 12: Teknosa

    Teknosa % MILLION TL 2011 Q2 2012 Q2 Change SALES (NET) 385 534 38,8 EBITDA 22 29 33 1 33,1 NET INCOME 9 11 24,6 EBITDA Margin (%) 5,7 5,5 High profitability maintaned despite the very strong revenue growth… Teknosa Sales Analysis 38% 14% 19% 11% 24% 8% 2011 Q2 2012 Q2 Like‐for‐like Growth Net Expan

  13. Slide 13: Cement

    Cement % MILLION TL 2011 Q2 2012 Q2 Change SALES (NET) 337 377 11,6 COST OF SALES (259) (282) 8,9 OPERATIONAL EXPENSES (13) (17) 25,2 OTHER INCOME/(EXPENSE) (2) (1) (36,1) OPERATING INCOME 63 77 21,0 EBITDA 80 95 19,4 EBITDA EXCLUDING NON 80 9 95 19,4 9 OPERATIONAL ITEMS EBITDA Margin (%) 23,6% 25,2

  14. Slide 14: Insurance

    Insurance % MILLION TL 2011 Q2 2012 Q2 g Change SALES (NET) 109 148 35,9 COST OF SALES (108) (136) 26 4 26,4 OPERATIONAL EXPENSES (19) (23) 21,3 OTHER INCOME/(EXPENSE) /( ) 23 18 ( (22,5) ) OPERATING INCOME 5 6 31,0 Solid operating results 14

  15. Slide 15: Avivasa

    Avivasa % MILLION TL 2011 Q2 2012 Q2 Change SALES (NET) 40 52 28,6 OPERATING INCOME 2 11 n.m. NET INCOME 8 13 61 5 61,5 AUM 2 789 2.789 3 536 3.536 26 8 26,8 20% increase in Market Consistent Embedded Value Market Consistent Embedded Value Net Contribution (million TL) (million TL) 682 744 619 9% 51

  16. Slide 16: Industrials

    Industrials % MILLION TL 2011 Q2 2012 Q2 Change SALES (NET) 1.191 1.210 1,6 COST OF SALES (1.001) (1.037) 3,6 OPERATIONAL EXPENSES (106) (116) 9,4 OTHER INCOME/(EXPENSE) (0) 19 n.m. OPERATING INCOME 84 75 (9,7) EBITDA 117 112 (4,0) EBITDA EXCLUDING NON 121 112 (7,2) OPERATIONAL ITEMS EBITDA Margin (

  17. Slide 17: Kordsa Global

    Kordsa Global % MILLION TL 2011 Q2 2012 Q2 Change SALES (NET) 390 390 (0 1) (0,1) EBITDA 44 54 21,4 NET INCOME 28 20 (30,2) EBITDA Margin (%) 11,3 13,7 Increasing operating profitability compared to last year… Tire Cord, Fabric and Yarn Sales Quantity (000 tones) 44 39 11% 2011 Q2 2012 Q2 17

  18. Slide 18: Brisa

    Brisa % MILLION TL 2011 Q2 2012 Q2 Change SALES (NET) 319 338 5,9 EBITDA 30 41 34,3 NET INCOME 11 16 42,6 EBITDA Margin (%) 9,5 12,1 Strenghtened market leadership… Market Share (Replacement-%) 26% 30% 2011 Q2 2012 Q2 18

  19. Slide 19: Net Sales

    Net Sales % MILLION TL 2011 Q2 2012 Q2 Change TOTAL 5.321 6.480 21,8 BANK 2 611 2.611 3 352 3.352 28 4 28,4 NON-BANK 2.710 3.128 15,4 ENERGY 358 505 41 0 41,0 RETAIL 703 870 23,6 CEMENT 337 377 11 6 11,6 INSURANCE 109 148 35,9 INDUSTRY 1.189 1.209 1,7 OTHERS 13 19 50,1 Double digit revenue growth ma

  20. Slide 20: EBITDA (Excluding Non Operational Items)

    EBITDA (EXCLUDING NON OPERATIONAL ITEMS) % % 2011 Q Q2 2012 Q Q2 Ma gin Margin Ma gin Margin TOTAL 1.144 21,5% 1.122 17,3% BANK 827 31,6% 783 23,2% NON-BANK NON BANK 279 10,1% 322 10,1% ENERGY 57 14,3% 78 14,0% RETAIL 29 4,2% 33 3,8% CEMENT 80 23,6% 95 25,2% INSURANCE 5 5,0% 7 4,7% INDUSTRY 121 10,2

  21. Slide 21: Leverage and Consolidated FX Position

    Leverage and Consolidated FX Position NET FX POSITION (excl. bank) December 31, 2011 June 30, 2012 ENERGY (881) (865) INDUSTRY (144) (169) CEMENT (5) 25 RETAIL 13 6 HOLDING&OTHER 579 348 TOTAL (438) (655) TOTAL* 1 (134) Million USD NET DEBT / (CASH) (excl. bank & ins.) December 31, 2011 June 30, 201

  22. Slide 22: Organic Growth (Million TL)

    Organic Growth (Million TL) 398 %13 352 2011 Q2 2012 Q2 2011 Q2 2012 Q2 5% 1% 4% 5% 2% 10% Bank Insurance 10% 9% Industrials 19% Cement Energy 57% 71% Retail 6% Other 22 Continuous investments for future profitability and growth…

  23. Slide 23: Q&A

    Sabanci of Rising Turkey PUBLIC

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