Pinar Sut Mamulleri Sanayii A.s. · BIST:PNSUT
Pinar Sut Mamulleri Sanayii A.s — Pınar Süt — Q1 2019 Earnings Presentation
13 slides from Pinar Sut Mamulleri Sanayii A.s's earnings presentation, 2019
Slide 1: Pınar Süt Earnings Presentation 2019-Q1
Pınar Süt Earnings Presentation 2019-Q1
Slide 2: Pınar Süt at a Glance
2019-Q1 PINAR SÜT AT A GLANCE %1 1
Slide 3: Highlights
2019-Q1 HIGHLIGHTS 379.2 4.1% 21.8 million Net Sales million TL Net Sales Growth EBITDA 12.3 1.9 1,050 million USD Average number of million TL employees in 2019- export sales capex Q1 ˗ The raw milk prices in 2018 completed the year by a 6.9% increase compared to the previous year. Number of milked
Slide 4: Market Dynamics: Production and Cost
2019-Q1 MARKET DYNAMICS PRODUCTION AND COST Number of Milked Animals in Turkey Milk Production in Turkey +6.9% 22.1 TSI +7.2% 30.6 TSI 28.5 20.7 18.2 18.6 18.7 18.5 24.6 25.5 25.2 23.9 2013 2014 2015 2016 2017 2018 2013 2014 2015 2016 2017 2018 Inflation and Raw Milk Prices Progress TSI, NMC ˗ The r
Slide 5: Market Dynamics: Consumption and Market
2019-Q1 MARKET DYNAMICS CONSUMPTION AND MARKET Share of Packaged Products Packaged Products Penetration IPSOS IPSOS 51.5% 52.8% 95.0 95.8 96.6 96.4 40.7% 40.1% Milk Cheese Milk Cheese 2017 2018 Dairy Market Turkey's Dairy Market Segments (Turnover) Nielsen, BIM Exc. Sales Value 2019-Q1, Nielsen,BİM
Slide 6: Market Position
2019-Q1 MARKET POSITION Pınar Süt and Competitors Market Shares Based on Products 2019-Q1, Nielsen, BIM Excl. Nielsen, 2019-Q1, BIM Excl. Product Share Position Pınar Closest Competitor Total UHT Milk 26.9% 1# UHT Light Milk 53.8% 1# Enriched Milk (Kids) 79.0% 1# Protein Milk 55.0% 1# Total Cheese 1
Slide 7: Net Sales Breakdown
2019-Q1 FINANCIALS NET SALES BREAKDOWN *Other 12% Based on Product Groups *Fruit juice, sauce, other Dairy Products Based on 88% Sales Channel Export 17% 12.3 million Dollar Direct S. Arabia 19.2% Qatar 11.4% 2% Kuwait 10.5% UAE 9.5% *Yaşar Birleşik Pazarlama is the *YBP Iraq 7% distribution company
Slide 8: Income Statement
2019-Q1 FINANCIALS INCOME STATEMENT 1/1/2019 1/1/2018 (Million TL) 3/31/2019 3/31/2018 Difference Change Net Sales 379.2 364.1 15.0 4.1% Cost of Goods Sold (325.9) (297.7) (28.1) 9.4% Gross Profit 53.3 66.4 (13.1) -19.7% R&D Expenses (3.3) (2.8) (0.5) 17.6% Sales, Distribution and Marketing (28.0) (
Slide 9: Sales and Profitability – Annually
2019-Q1 FINANCIALS SALES AND PROFITABILITY – ANNUALLY Net Sales Gross Profit million TL 275.0 16.8% 17.9% 15.6% 20.0% 16.1% 15.9% 18.0% 225.0 16.0% 231.6 14.0% 175.0 12.0% 196.8 1,488 125.0 10.0% 1,068 1,240 191.1 1,011 8.0% 940 75.0 157.7 162.4 6.0% 4.0% 25.0 2.0% -25.0 0.0% 2014 2015 2016 2017 201
Slide 10: Sales and Profitability – Quarterly
2019-Q1 FINANCIALS SALES AND PROFITABILITY – QUARTERLY Net Sales Gross Profit 1,488 17.9% 18.2% 1,240 15.9% 15.6% 15.5% 1,068 14.1% 364 379 374 2016 2017 2018 1Ç18 1Ç19 4Ç18 2016 2017 2018 Q1-18 Q1-19 Q4-19 EBITDA Net Profit 8.7% 9.4% 8.7% 6.9% 7.6% 10.6% 5.8% 5.6% 6.0% 4.6% 3.8% 3.3% 2016 2017 2018
Slide 11: Financial Ratios and Capital Expenditures
2019-Q1 FINANCIALS FINANCIAL RATIOS 2015/12 2016/12 2017/12 2018/12 2019/03 Current Ratio 1.16 1.23 1.21 1.07 1.06 Leverage Ratio 0.34 0.36 0.43 0.44 0.45 Current Borrowing/Total Borrowings (Fin.) 0.93 0.56 0.64 0.81 0.92 Net Fin. Borrowing/EBITDA 0.34 0.76 1.69 1.16 1.49 Net Fin. Borrowings/Equity
Slide 12: Ownership Structure
2019-Q1 OWNERSHIP STRUCTURE Shareholder Share Rate (%) Share Amount(TL) YAŞAR HOLDİNG A.Ş. 61.41 27,603,901.57 OTHER 38.59 17,347,149.68 Total 100.00 44,951,051.25 The company’s shares are traded at Borsa İstanbul Star Market under the ticker symbol PNSUT. 11
Slide 13: Disclaimer and Contact Information
2019-Q1 DISCLAIMER AND CONTACT INFORMATON BİLGİLERİ 12