Turk Traktor Ve Ziraat Makineleri A.s. · BIST:TTRAK
Turk Traktor Ve Ziraat Makineleri A.s — FY2010 Earnings Presentation
29 slides from Turk Traktor Ve Ziraat Makineleri A.s's earnings presentation, Feb 18, 2011
Slide 1: TürkTraktör
TürkTraktör
Slide 2: Türk Traktör
GA Koc Turk Traktor TractonMarket & U aktor
Slide 3: TürkTraktör Since 1954
Türk Traktör TÜRKTRAKTÖR Since 1954 TürkTraktör, which has been operating in tractor and agriculture equipment market since 1954, was the first manufacturer and export company amongst the institution of the automotive sector. It has been managed by Koç Holding A.Ş and CNH on an equal partnership bas
Slide 4: Products, dealers, capital and headcount
Türk Traktör Products • Tractors (New Holland – Case IH brands 56-TT-TD/JX-T480 series) • Transmission • Engine 98 NH tractor sales dealers Import Products 84 spare part dealers 16 Case IH 3S dealers • Tractors (New Holland – Case IH brands) • Combines Paid-In Capital : 53.369.000 TL Koç Holding A.Ş
Slide 5: Latest Advances in the Sector
Türk Traktör LATEST ADVANCES IN THE SECTOR Within the framework of EU harmonization activities, there is an obligation for the tractors, produced in Turkey, to shift from Tier 2 engine to Tier 3 engine which started as of January 1, 2011. These environment- friendly engines will promote the producti
Slide 6: Export to 63 countries
Türk Traktör Export firstly to USA, mostly Africa and the Asian markets, Australia, huge buyers like EU states, and in total export to 63 countries including large and small countries like Papua New Guinea, Burundi, Angola, Tanzania, New Caledonia, Zimbabwe across the world. 6
Slide 7: Driving Modern Agriculture
Türk Traktör Driving Modern Agriculture we create value for our country, business partners and shareholders Your Success For Those Who Our Specialty 7 Demand More... 7
Slide 8: Türk Traktör
Turk Traktor GP Koc TractonMarket & U aktor
Slide 9: Agriculture in Turkey
Türk Traktör Agriculture is a basic field of activity for humans and also it is considered as a leading sector of economic development in approximately all economies. When international comparisons are done, it is found out that Turkish agriculture has a comparative advantage as a potential. Wide ag
Slide 10: Agricultural Sector in Turkey
Türk Traktör AGRICULTURAL SECTOR IN TURKEY GDP EXPORT POPULATION EMPLOYMENT 8.3% 11% 24.5% 24.7% 10
Slide 11: Global crop decreases and food crisis
Türk Traktör Due to the natural disasters like drought and flood experienced in huge agriculture countries like China, Canada, Russia and India in 2010, there have been decreases in crops across the world firstly in wheat, and cotton, sugar cane, rice, legumes, tobacco, fruits and vegetables. As a r
Slide 12: Türk Traktör
GA Koc Turk Traktor 12
Slide 13: Turkish Tractor Market
Türk Traktör TURKISH TRACTOR MARKET Turkish tractor market is highly volatile market when evaluated on a yearly basis. Therefore long term projection possibilities are limited. However when recent year’s average figures are evaluated it is found out that 30.000 -35.000 tractors are sold on yearly ba
Slide 14: Brands in the Turkish tractor market
Türk Traktör Currently there are 36 brands in Turkish tractor market in which 4 brands were competing in 2001. TürkTraktör is in a leader position with more than %50 market share for 3 years within Turkish market, in which the competition increases year by year. NH LS Artrak (YTO) John Deere 2010 Sa
Slide 15: Agriculture Sector in Turkey
Türk Traktör AGRICULTURE SECTOR IN TURKEY Turkey is among the countries, which have been least affected from the changing climate conditions in 2010, and stood against the global crisis. Agriculture sector has recovered in Turkey thanks to the supports given by the government and interest-free loans
Slide 16: Domestic Tractor Market 2010
Türk Traktör DOMESTIC TRACTOR MARKET 2010 Total domestic retail market have recovered in 2010 when compared to 2009, and it has increased to 36.036 units. Domestic sales of TürkTraktör in 2010 have increased by 160% when compared to 2009 and it has reached to 18.565 units. 45.000 60 42.033 39.571 52
Slide 17: 2010 & 2011
Türk Traktör 2010 & 2011 Our growth rate has gained speed once more thanks to our strong brands in 2010. 28.348 UNITS OF TRACTOR PRODUCTION Our target for 2011 year is to We are expecting that the maintain our leadership recovery and demand position in Turkish market increase in 2010 will continue a
Slide 18: Among the Giants in Turkish Automotive Sector
Türk Traktör AMONG THE GIANTS IN TURKISH AUTOMOTIVE SECTOR 6th IN PRODUCTION 8th WE CONTINUE TO IN EXPORT GROW BY TAKING FIRM STEPS 18 Source : Automotive Manufacturers Association
Slide 19: Türk Traktör
GA Koc Turk Traktor Itural Sector ie) 3 To feY) =) = a) °o ah a) J W— } TractonMarket & U aktor 19
Slide 20: Tractor Sales Units
Türk Traktör TRACTOR SALES UNITS Total sales as of 31.12.2010 has increased by 84% when compared to the previous year, and realized as 28.940 units. 35.000 30.000 28.940 8.938 25.000 22.781 9.645 20.000 units 20.002 15.754 15.000 8.808 13.136 10.000 %69 %58 5.000 6.946 %44 0 2008 2009 2010 Domestic
Slide 21: Sales Revenue
Türk Traktör SALES REVENUE Total sales revenue reached to 1,2 billion TL by 79% increase as of 31.12.2010 when compared to the previous year. 1.400 1.193 1.200 315 154 1.000 mln € 787 878 on TL 800 668 million 314 146 600 mln € 323 150 mln € 400 474 344 200 0 2008 2009 2010 Domestic Export 21
Slide 22: Financial Results
Türk Traktör FINANCIAL RESULTS million TL million € 2008 2009 2010 2008 2009 2010 Sales 787 668 1.193 368 309 582 Gross Profit 138 104 319 65 48 156 Operating Income 76 54 240 36 25 117 Income Before Taxation 83 37 223 39 17 109 Net Income 67 31 180 31 14 88 EBITDA 87 61 248 41 28 121 22
Slide 23: Ratios
Türk Traktör RATIOS % 2008 2009 2010 Gross Profit Margin 17,5 15,6 26,7 Operating Income Margin 9,7 8,0 20,1 Net Income Margin 8,5 4,6 15,1 EBITDA Margin 11,1 9,1 20,8 Return On Equity 23,4 10,3 38,4 Return On Assets 6,93 4,34 20,3 Current Ratio 1,1 1,7 2,0 Quick Ratio 0,7 1,3 1,6 Asset Turnover 0,8
Slide 24: Net Income & EBITDA
Türk Traktör NET INCOME & EBITDA Net income as of 2010 year end reached to 180 millon TL with 481% increase. EBITDA realized as 248 million TL with 307% increase. 300 25 20,8 250 20 248 200 15,1 on TL 15 million 150 11,1 % 180 9,1 10 100 8,5 87 4,6 5 50 67 61 31 0 0 2008 2009 2010 Net Income EBITDA
Slide 25: Working Capital
Türk Traktör WORKING CAPITAL Working capital need decreased by 35% and realized as 321 million TL as of 2010 year end. 700 600 649 500 494 million TL 400 300 321 200 100 0 2008 2009 2010 25
Slide 26: Net Financial Debt
Türk Traktör NET FINANCIAL DEBT 242 million TL net financial debt in 2009, has realized as 80 million TL net cash position in 2010. 200 100 80 0 million TL -100 -200 -242 -300 -400 -416 -500 2008 2009 2010 26
Slide 27: MCAP & Share Closing Price
Türk Traktör MCAP & SHARE CLOSING PRICE 1.600 30 The market value of our 26,8 669 mln € company reached to 1.400 1.430 23,5 25 1,4 billion TL as of 17.02.2011, it was 483 1.200 1.254 612 million TL in 2009. mln € 20 1.000 million TL TL 800 15 IMKB-100 & TTF INDEX (31.12.2007=100) 600 9,05 10 224 400
Slide 28: Dividend
Türk Traktör DIVIDEND TürkTraktör, is among the Istanbul Stock Exchange traded companies which pay the highest dividend, will distribute 150.000.000 TL gross dividend in cash in 2011. 160 120 150 140 100,36 94,05 100 101,37 120 107 83,5 80 100 94 94 on TL million 80 60 % 60 40 25,57 39,57 40 13,45 1
Slide 29: Thank You
GP Koc Turk Traktor THANK YOU
Türk Traktör ve Ziraat Makineleri A.Ş. — FY2010 Earnings Presentation on 6ix