Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi · BIST:DOAS
Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi — Doğuş Otomotiv Servis ve Ticaret A.Ş. — Q3 2022 Earnings Presentation
24 slides from Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi's earnings presentation, Nov 10, 2022
Slide 1: 3Q 2022 Analyst Briefing Presentation
3Q 2022 ANALYST BRIEFING PRESENTATION Kerem Talih 10 NOVEMBER 2022 TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third
Slide 2: Jan-September 2022 Main Segment Sales (Retail)
JAN - SEPTEMBER 2022 DOGUS OTOMOTIV MAIN SEGMENT SALES (Retail) 700.000 600.000 500.000 400.000 300.000 200.000 RETAIL MARKET 100.000 0 Retail PV Premium LCV HCV September 21 575.490 434.800 43.471 123.345 17.345 September 22 541.852 399.224 39.350 121.306 21.322 ∆ -6% -8% -9% -2% 23% 80.000 60.000
Slide 3: Competition (Retail - September)
COMPETITION (Retail - September) 21 Year End/ VW PC ranked 3rd in the YTD YTD September 21/ RETAIL MARKET September September September September 22 cumulative passenger vehicle 22 2020 2021 2021 2022 market with 9.7% market ∆ ∆ share. PASSENGER CAR % RENAULT GRUP 22,5 20,7 20,0 21,9 1,3 1,9 DOĞUŞ O
Slide 4: Jan-September 2022 Passenger Vehicle Market
JAN - SEPTEMBER 2022 PASSENGER VEHICLE MARKET (%) (Retail) 40,0 - PC market decreased by 8% yoy. 35,0 33,5 32,0 30,0 - DOAS shares a 16.9% market share at 2nd 25,0 21,9 20,4 place 20,0 20,0 16,9 16,7 15,0 13,9 12,2 12,5 - The strongest competitor of DOAS in this 10,0 segment is Renault with 21.9% ma
Slide 5: Jan-September 2022 Light Commercial Vehicle Market
JAN - SEPTEMBER 2022 LIGHT COMMERCIAL VEHICLE MARKET (%) (Retail) 40,0 - Light Commerical Vehicle market 35,0 33,8 30,7 decreased by 2% yoy. 30,0 25,6 26,7 25,0 23,9 23,2 - DOAS shares a 4.7% market share at 6th 20,0 place. 15,0 11,6 10,1 9,7 - Leaders in the LCV market are Ford Otosan 10,0 4,7 with
Slide 6: Jan-September 2022 Brand Sales Performance
JAN - SEPTEMBER 2022 DOĞUŞ OTOMOTIV BRAND SALES PERFORMANCE WHOLESALE UNITS 09M21 09M22 Δ VW PC 42.785 39.430 -8% SKODA 20.076 12.656 -37% AUDI 9.457 8.424 -11% VW LCV 11.851 5.628 -53% SEAT 10.572 4.297 -59% CUPRA 157 2.192 1296% SCANIA 1.953 1.181 -40% PORSCHE 468 433 -7% BENTLEY 9 11 22% LAMBORGH
Slide 7: January-October 2022 Main Segment Sales (Retail)
JANUARY - OCTOBER 2022 DOGUS OTOMOTIV MAIN SEGMENT SALES (Retail) 700.000 600.000 500.000 400.000 300.000 RETAIL MARKET 200.000 100.000 0 Retail PV Premium LCV HCV October 21 634.736 475.312 47.183 139.579 19.845 October 22 609.974 446.664 46.393 139.088 24.222 ∆ -4% -6% -2% 0% 22% 80.000 60.000 40.
Slide 8: January-October 2022 Brand Sales Performance
JANUARY- OCTOBER 2022 DOĞUŞ OTOMOTİV BRAND SALES PERFORMANCE WHOLESALE UNITS 10M21 10M22 Δ VW PC 46.318 42.566 -8% SKODA 20.709 15.136 -27% AUDI 10.376 10.017 -3% VW LCV 12.580 7.823 -38% SEAT 11.157 4.774 -57% CUPRA 182 2.365 1199% SCANIA 2.007 1.413 -30% PORSCHE 503 485 -4% BENTLEY 10 12 20% LAMBO
Slide 9: Competition (Retail - October)
COMPETITION (Retail - October) RETAIL MARKET YTD October YTD October 21 Year - End/ October 21/ 2020 2021 2021 2022 October 22 October 22 ∆ ∆ PASSENGER CAR % RENAULT GRUP 22,5 20,7 19,9 22,0 1,4 2,1 TOFAS 15,9 13,6 14,2 17,0 3,4 2,8 DOGUS OTOMOTİV 17,6 18,9 20,0 16,8 -2,1 -3,2 STELLANTIS 14,9 13,0 1
Slide 10: Financial Performance
FINANCIAL PERFORMANCE TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third parties. CUPRA Formentor
Slide 11: Financial Performance (mn TL)
FINANCIAL PERFORMANCE (mn TL) Net Sales EBITDA Net Profit 5.479 %66 30.712 5.975 %335 24.306 %221 18.900 18.446 3.275 2.336 1.575 1.859 1.042 1.260 2020 2021 9M2021 9M2022 2020 2021 9M2021 9M2022 2020 2021 9M2021 9M2022 CapEx* Total Assets Working Capital** %68 %58 16.411 10.104 %145 476 404 9.755 6
Slide 12: Margins %
MARGINS % Gross Profit Margin OpEx/Sales EBITDA Margin 22,1% 5,5% 19,5% 4,1% 13,1% 14,5% 13,5% 3,3% 13,5% 10,1% 1,8% 8,3% 2020 2021 9M2021 9M2022 2020 2021 9M2021 9M2022 2020 2021 9M2021 9M2022 EBIT Margin Net Profit Margin Wholesale Market Sales* 18,8% 17,8% 100.130 94.839 12,7% 77.264 9,4% 61.605
Slide 13: Income Statement Q-on-Q and Y-on-Y Comparisons
INCOME STATEMENT Q-on-Q and Y-on-Y Comparisons TL’000 3Q 2022 2Q 2022 Δ 3Q 2022 3Q 2021 Δ Wholesale Sales Volume (excl. Skoda, incl. 20.505 23.960 -14% 20.505 16.468 25% Scania) Revenue 11.857.895 11.614.225 2% 11.857.895 4.846.202 145% Direct cost of revenue -9.057.734 -9.081.835 0% -9.057.734 -4.0
Slide 14: Income Statement
INCOME STATEMENT TL’000 30.09.2022 30.09.2021 Δ 2022/2021 Wholesale Sales Volume (excl. Skoda, incl. 61.605 77.264 -20% Scania) Revenue 30.712.276 18.445.946 66% Direct cost of revenue -23.929.764 -15.962.447 50% Gross profit 6.782.512 2.483.499 173% Total Operational Expenses -1.012.976 -755.603 34
Slide 15: Income from Associates
INCOME FROM ASSOCIATES TL’000 30.09.2022 30.09.2021 Δ 2022/2021 Associates Yüce Auto (Škoda) 299.424 26.369 1036% TÜVTÜRK N&S (Consolidated) 148.556 122.263 22% VDF Servis 75.781 105.561 -28% Doğuş Sigorta 5.605 1.520 269% Doğuş Teknoloji -2.964 340 -972% Total 526.402 256.053 106% 15/24 TR : Kurums
Slide 16: Balance Sheet
BALANCE SHEET Inventories: Number of vehicles increased TL’000 30.09.2022 31.12.2021 Δ from 4,971 units on 31.12.2021 to 8,292 units ASSETS 16.411.135 9.754.599 68% on 30.09.2022. Cash and cash equivalents 3.556.513 3.409.576 4% Trade receivables 2.408.361 1.010.816 138% Financial Liabilities: Use o
Slide 17: Financing Costs
FINANCING COSTS Million TL 30.09.2022 30.09.2021 Δ 2022/2021 Financing Cost, net 545.594 417.692 31% Finance Expenses 584.668 463.191 26% Interest Expense on Borrowings 444.941 378.803 17% Commission Expenses on Letters of Guarantee 61.581 47.694 29% Interest Expense on Lease Liabilities 27.098 19.8
Slide 18: Financial Performance
FINANCIAL PERFORMANCE Million TL 30.09.2022 31.12.2021 Δ Working capital 10.104 6.390 58% Net Cash Position* 1.077 485 122% Receivable Turnover (day) 21 15 41% Inventory Turnover (day) 47 35 37% Payable Turnover (day) 41 22 92% * Net Cash Position is calculated in line with IFRS 16. Bank loans and e
Slide 19: Material Event Disclosures in 3Q 2022 and Subsequent Events
MATERIAL EVENT DISCLOSURES IN 3Q 2022 SUBSEQUENT EVENTS ➢ 09.11.2022 - Advance Dividend Distribution To ensure the continuation of our principle of sustainable and as stable dividend distribution as possible, keeping in mind the interests and expectations of our shareholders in accordance with the C
Slide 20: Integrated Management Systems
Integrated Management Systems 20/24 TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third parties.
Slide 21: Sustainability: Social, Environmental, Economic
VW AG's supply chain sustainability program moved on to the second stage Listed in the BIST Sustainability Index for the 8th time and Human Rights Education SOCIAL ECONOMIC entered the BIST Sustainability & Human Rights Officer Participation Index Authorized Dealer Corporate Governance & Sustainabil
Slide 22: 2022 Expectations
2022 EXPECTATIONS Sustainability and Mobility Digitalization Climate Change Priorities Operational Efficiency and Service Areas Optimum Profitability Cautious Expenditure Management OEM Strategy: Maintain represented brands’ competitive position. Total Automotive Market Investment Expenditure (PC+LC
Slide 23: Thank You – Q & A
THANK YOU – Q & A TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third parties. Scania 500S
Slide 24: TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak
TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third parties.
Doğuş Otomotiv Servis ve Ticaret A.Ş. — Q3 2022 Earnings Presentation on 6ix