Is Finansal Kiralama A.s. · BIST:ISFIN
Is Finansal Kiralama A.s — FY2017 Earnings Presentation
27 slides from Is Finansal Kiralama A.s's earnings presentation, Dec 31, 2017
Slide 1: Investor Presentation 31 Dec 2017
Investor Presentation 31 Dec 2017
Slide 2: Leasing Sector in Turkey
is LEASING Leasing Sector in Turkey
Slide 3: Leasing
LEASING VAT is %1 for various types of machinery Sale&lease back has been added to product range in 2013 Expertise on SMEs, consultancy and know-how support in addition to funding FX borrowing option (Bank FX loans have some restrictions) Fast credit approvals (leased-asset ownership), fle
Slide 4: Sector New Leasing Volume
SECTOR NEW LEASING VOLUME Leasing penetration is still at low levels New Leasing Volume compared to EU average of 15% and (million USD) North America average of 18%. 7,637 12% 6,990 6,365 6,188 10% 6,130 5,360 8% 4,891 6% 4% 2% 0% 2006 2008 2010 2012 2014 2016 2011 2012 2013 2014 2015 2016 2017 Pene
Slide 5: Leasing Receivables
LEASING RECEIVABLES TL % FX % 16,000 120.00% 14,000 9,530 10,895 12,699 12,632 12,509 13,783 100.00% 12,000 23% 26% 28% 28% 25% 25% 80.00% 10,000 8,000 60.00% 6,000 40.00% 4,000 20.00% 2,000 0 0.00% 2012 2013 2014 2015 2016 2017 5
Slide 6: Customer Base
Müşteri Adedi CUSTOMER BASE 70,000 12% 10.65% 10.02% 60,000 9.04% 10% 8.71% 9.03% 8.19% 50,000 8.02% 8.18% 8% 40,000 6% 30,000 4% 20,000 2% 10,000 - 0% 2010 2011 2012 2013 2014 2015 2016 2017 Sektör İş Leasing Payı 2016 vs. 2015 Fastest customer growth in Customers Δ Contracts Δ the sector İŞ LEASIN
Slide 7: Company Overview
is LEASING Company Overview
Slide 8: Milestones & Shareholders
MILESTONES & SHAREHOLDERS 1995 2009 1985 İş Bank Joined BIST Leasing law group took corporate enacted over governance index 1988 2000 2011 Established by Listed in First corporate İş Bank, Soc İstanbul Stock bond issuer in Gen and IFC Exchange leasing sector (ISFIN) Trakya Yatırım 0.90% ŞİŞECAM 0.08
Slide 9: Participations
PARTICIPATIONS Subsidiaries and Participations Ownership % İş Faktoring A.Ş. 78,23 Efes Varlık Yönetimi A.Ş 10,00 İş Yatırım Menkul Değerler A.Ş. (IS Invest) 4,86 İş Net 1,00 İş Girişim Sermayesi Yatırım Ort. A.Ş. 0,89 Yatırım Finansman A.Ş. 0,06 9
Slide 10: Organization Chart
is LEASING Internal Audit _ Investor and Risk Relations Management Treasury a Financial Institutions Marketing Risk Monitoring Financial Management Administration Legal Affairs 10
Slide 11: Branch Network
BRANCH NETWORK Avcılar Şişli Gebze Kozyatağı Trabzon Ostim Bursa Ankara Kayseri Diyarbakır İzmir Konya Gaziantep Antalya Adana 15 Branches 52 Sales staff 150 Total staff 11
Slide 12: Lease Portfolio
is LEASING Lease Portfolio
Slide 13: Sales Channels
SALES CHANNELS 2017 2016 İŞ BANK DIRECT MARKETING VENDORS İŞ BANK VENDORS DIRECT MARKETING 16% 16% 57% İşbank: 1351 local and 23 64% foreign branches, largest network among private 20% 27% banks. 13
Slide 14: Asset Distribution, %
ASSET DISTRIBUTION , % 2016 2017 35.8 34.0 23.5 22.6 20.5 19.1 14.6 12.3 4.6 4.8 4.2 4.0 REAL ESTATE MACHINERY CONSTRUCTION MACH. TEXTILE TRANSPORTATION OTHER 14
Slide 15: Sectoral Distribution, %
SECTORAL DISTRIBUTION , % 2016 2017 32.6 33.0 24.3 24.4 14.5 12.8 10.1 7.0 7.8 7.3 4.5 4.8 4.9 4.3 4.5 3.3 CONSTRUCT METAL IND. TEXTILE TRANSPORT RETAIL CHEMICALS FINANCE OTHER 15
Slide 16: Geographical Distribution
GEOGRAPHICAL DISTRIBUTION ANTALYA; 2% KONYA; 3% İZMİR; 5% OTHER; 22% BURSA; 4% GAZİANTEP; 5% ANKARA; 13% İSTANBUL; 46% 16
Slide 17: Maturity Distribution
MATURITY DISTRIBUTION 2016 2017 LEASİNG LEASİNG BORROWINGS 26 BORROWINGS 24 20 19 19 18 18 18 12 8 9 8 USD EUR TRY USD EUR TRY average, months *Portion funded by equity is included. 17
Slide 18: Currency Distribution
CURRENCY DISTRIBUTION TL TL TL 36% 36% 39% USD USD USD 24% 23% 32% EUR EUR EUR 39% 38% 33% 2015 2016 2017 18
Slide 19: Leverage
LEVERAGE TRY Receivables Equity TL Debt TL Portfolio Leverage(solo) 1,700 4.6 4.7 1,414 1,166 4.0 932 860 3.9 659 474 306 3.1 692 755 840 626 2013 2014 2015 2016 2017 2014 2015 2016 2017 Increased leverage by gaining market share 19
Slide 20: Funding Policy
FUNDING POLICY • First corporate bond issuer in leasing sector, outstanding nominal balance 1.4 billion TL, maturities range between 3 months to 18 months. • IFI and ECA Funding o IFC renewable energy and energy efficiency facility, World Bank EFIL- SME loans, CEB SME loans, BSTDB SME loan, ECO-Trad
Slide 21: Financial Performance
Financial Performance
Slide 22: Financial Highlights
FINANCIAL HIGHLIGHTS TL Million, consolidated 2015 2016 2017 Δ Leasing Receivables, Net 3.287 4.001 4.701 17,5% Factoring Receivables, Net 1.951 2.986 4.207 40,9% Non Performing Receivables 183 231 266 15,4% Provisions 140 150 180 20,0% Total Assets 5.581 7.480 9.283 24,1% Financial Liabilities 4.66
Slide 23: Solo Key Figures
SOLO KEY FIGURES (Million TL) 2015 2016 2017 Δ 2015 2016 2017 Δ Financial Highlights İş Sector Leasing Receivables 3.249 3.921 4.617 18% 36.728 44.022 51.990 30% Total Assets 3.656 4.508 5.069 27% 40.655 48.500 58.053 31% Equity 692 755 840 15% 6.930 7.800 8.567 12% Net Profit 81 82 74 21% 809 922 9
Slide 24: NPL
NPL 8.55% 250,000 7.99% 6.95% 200,000 6.70% 7.60% 6.26% 6.03% 7.00% 5.55% 150,000 151-240 241-360 4.80% 4.65% 4.63% 100,000 4.60% >360 4.31% Total 50,000 0 2011 2012 2013 2014 2015 2016 2017 Sector İş Leasing(solo) 000 TL LOSS RESERVE Consolidated 31.12.2015 31.12.2016 31.03.2017 30.06.2017 30.09.20
Slide 25: Collaterals
COLLATERALS* Leased assets are legally possessed by the lessor so they are the collateral of the leasing loan. Depending on the lessee’s credit ratings and second hand value of the leased asset, additional collaterals might be demanded. Cash + LG + Mortgage Pledge + 5.42% Buyback 5.60% Prom. Note+ P
Slide 26: Rating
RATING Foreign Currency Long-Term IDR BB+ Short-Term IDR B Outlook Stable Local Currency Long-Term IDR BB+ Short-Term IDR B Outlook Stable National Long-Term Rating AA + (tur) Outlook Stable Support Rating 3 Corporate Governance Rating (Saha) : 9.17 26
Slide 27: Disclaimer
DISCLAIMER The information in this document has been obtained by İş Finansal Kiralama A.Ş. (“İş Leasing”) from sources believed to be reliable, however, İş Leasing can not guarantee the accuracy, completeness, or correctness of such information. This document has been issued for information purposes
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