Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi · BIST:DOAS
Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi — Doğuş Otomotiv Servis ve Ticaret A.Ş. — Q3 2017 Earnings Presentation
18 slides from Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi's earnings presentation, Nov 10, 2017
Slide 1: 3Q 2017 Analyst Briefing Presentation
3Q 2017 ANALYST BRIEFING PRESENTATION Kerem Talih 10 November 2017
Slide 2: 3Q 2017 DOAS Developments (YoY)
3Q 2017 DOAS DEVELOPMENTS (YoY) 1
Slide 3: 3Q 2017 Doğuş Otomotiv Main Segment Sales Performance
3Q 2017 DOGUS OTOMOTIV MAIN SEGMENT SALES PERFORMANCE Retail RETAIL MARKET DOAŞ PERFORMANCE 3
Slide 4: Competition (Retail)
COMPETITON (Retail) 2016 / SEP2017 / RETAIL MARKET 2015 2016 SEP2016 SEP2017 SEP2017 SEP2016 VW ranked 2nd in cumulative ∆ ∆ passenger vehicle market with PASSENGER VEHICLE % 12,3% market share. RENAULT 19,2 19,7 19,8 21,6 1,9 1,8 DOGUS OTOMOTİV 23,1 23,0 23,3 20,7 -2,3 -2,7 TOFAS 7,1 7,3 7,1 9,2 1,
Slide 5: 3Q 2017 Passenger Vehicle Market (%)
3Q 2017 PASSENGER VEHICLE MARKET (%) Retail - Passenger vehicle market contracted by 2% yoy. - DOAS’ market share in the passenger vehicle market was realized as 20,7%. - VW passenger vehicles has the highest sales portion in Doğuş Otomotiv and herein below mentioned models have the highest contribu
Slide 6: 3Q 2017 Light Commercial Vehicle Market (%)
3Q 2017 LIGHT COMMERCIAL VEHICLE MARKET (%) Retail - Light commercial vehicle market increased by 2% yoy. - DOAS’s market share in light commercial vehicle market was realized as 12,8%. - Best selling models in its segment are: VW LCV 3Q17 Caddy A 14,70% 2 Transporter B 41,90% 1 Amarok B-CDP 16,40%
Slide 7: 3Q 2017 Doğuş Otomotiv Brand Sales Performance
3Q 2017 DOGUS OTOMOTIV BRAND SALES PERFORMANCE Wholesale WHOLESALE 9M2016 9M2017 Δ UNITS VW PV 74.586 61.212 -18% VW LCV 22.888 19.499 -15% AUDI 13.993 12.654 -10% SKODA 19.732 15.395 -22% SEAT 14.340 11.398 -21% SCANIA 1.451 976 -33% PORSCHE 550 433 -21% BENTLEY 6 11 83% LAMBORGHINI 6 4 -33% DOAS T
Slide 8: Launches in 2017
LAUNCHES IN 2017 New: Cayenne, New: Arteon Panamera ST, and Golf Facelift: 911 GTS, 911 GT3 New: Q5, A5 SB and A8 Bentayga Diesel New: Ibiza and Arona Huracan Facelift: Leon Performante New: Kodiaq Facelift: New R-Series Octavia, Rapid, New S-Series Rapid Spaceback 8
Slide 9: Financial Performance
FINANCIAL PERFORMANCE
Slide 10: Financial Performance (mn TL)
FINANCIAL PERFORMANCE (mn TL) Net Sales EBITDA Net Profit 0% CapEx Total Assets Working Capital** 0% *186,5 mn TL of CapEx is arising from **Cash and cash equivalents, trade the purchase of Doğuş Oto Esenyurt. receivables and inventory are included. 9
Slide 11: Margins (%)
MARGINS (%) Gross Profit Margin OpEx/Sales EBITDA Margin %8 Cons. Max 10 % Target EBIT Margin Net Profit Margin Wholesale Market Share* *PV, LCV and HCV sales are included. 10
Slide 12: Income Statement
INCOME STATEMENT Δ 3Q2017/ Gross profit margin was realized as 10,4% and both TL’000 3Q2017 3Q2016 3Q2016 revenue and direct cost of revenue increased by Revenue 8.502.717 7.961.137 7% approx. 6-7% yoy. Direct cost of revenue -7.615.702 -7.151.472 6% Impacts on revenue and direct cost of revenue: •
Slide 13: Equity Accounted Investees
EQUITY ACCOUNTED INVESTEES Δ 3Q2017/ TL’000 3Q2017 3Q2016 3Q2016 Associates VDF 28.042 34.615 -19% Doğuş Sigorta 956 911 5% Yüce Auto 7.874 7.901 0% VDF Servis 10.046 9.393 7% TÜVTÜRK N&S (Consolidated) 23.829 22.332 7% Meiller-Doğuş* -1.791 -767 134% Doğuş Teknoloji -3.082 164 -1979% Total 65.874 7
Slide 14: Balance Sheet
BALANCE SHEET TL’000 30.09.2017 31.12.2016 Δ Inventories: Number of vehicles increased from 20.217 units on 31.12.2016 to 20.947 units on ASSETS 5.040.042 4.851.854 4% 30.09.2017. Cash and cash equivalents 74.872 89.098 -16% Tangible Assets: increased by 22% due to the purchase of Doğuş Oto Esenyurt
Slide 15: Financing Costs
FINANCING COSTS Δ 3Q2017/ Million TL 3Q2017 3Q2016 3Q2016 Financing Costs 249,747 196,018 27% Finance expenses, net 249,661 195,680 28% Interest expense on borrowings 240,624 191,308 26% Commission expenses on letters of guarantee 6,144 2,553 141% Other financial expenses 2,893 1,819 59% Foreign Exc
Slide 16: Financial Performance
FINANCIAL PERFORMANCE Million TL 30.09.2017 31.12.2016 Δ Working capital 2.948 2.954 0% Net cash position -2.536 -2.707 6% Receivable Turnover (day) 34 37 -9% Inventory Turnover (day) 66 56 17% Payable Turnover (day) 37 26 42% Million TL 30.09.2017 31.12.2016 Δ CAPEX 272 208 30% ROA 2,8% 4,9% -42% R
Slide 17: Thank You – Q & A
THANK YOU – Q & A
Slide 18: Disclaimer
Disclaimer Doğuş Otomotiv Servis ve Ticaret A.Ş. (the “DOAS”) has prepared this presentation documents (the “Document”) consisting of documents and appendixes thereto for the sole purposes of providing information and projections and statements relating to the DOAS (the “Information”). DOAS cannot g
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