Slide 1: Koç Holding Earnings Presentation
Koç Holding Earnings Presentation September 2008
Slide 2: Financial and Operational Performance in 1H08
Financial and Operational Performance in 1H08 • Revenues reached YTL28.2bn (US$23.0bn), registering 31% YoY increase in YTL terms • Operating profit reached YTL3,433mn (US$2,798mn), registering 111% YoY increase in YTL terms • The operating profit for this period includes YTL 1,148,348,000 capital g
Slide 3: Strong Financial Performance
Strong Financial Performance 1H08 € Mn* US$ Mn* YTL Mn YTL Mn % 30.Jun.08 30.Jun.08 30.Jun.08 30.Jun.07 Change Revenues 15,026 23,001 28,213 21,590 31 Gross Profit 2,305 3,529 4,328 3,501 24 EBITDA 2,042 3,126 3,834 1,995 92 Operating Profit 1,828 2,798 3,433 1,626 111 FX Gain/(Loss) -150 -230 -282
Slide 4: Continuous Growth in Revenues from Ongoing Operations
Continuous Growth in Revenues from Ongoing Operations Total Revenues (YTLmn) Share of Segment Revenues (%) 31% 28,213 Energy 61% Automotive 21,590 13% Durables 12% Other Finance 4% 10% 1H07 1H08 Segment Contribution to Total Revenues (YTLmn) 48% 17,100 11,533 31% 8% 13% 3,734 3,709 3,395 16% 2,852 2
Slide 5: Increase in EBITDA
Increase in EBITDA * EBITDA Consumer Consolidated Energy Automotive Finance Other YTL mn Durables Total 1H08 1,271 423 345 549 1,246 3,834 Total EBITDA (YTL mn) Segmental EBITDA Breakdown (%) Automotive 11% 92% Durables 3,834 9% Energy 33% Finance 1,995 14% Normalized 2,681 Other 1H07 1H08 33% * The
Slide 6: EBITDA and EBITDA Margin by Segments
EBITDA and EBITDA Margin by Segments Segment Contribution to EBITDA (YTL mn) 46% 1367% 1,271 1,246 870 71% 36% 11% 549 423 388 404 345 247 94 85 Normalized Ene rgy Autom otive Durable s Finance Othe r 1H07 1H08 EBITDA Margin by Sectors 120.4 (%) 18.6 15.5 11.3 10.5 10.2 9.5 8.7 9.0 7.5 7.4 Normalize
Slide 7: Improving Operating Profit
Improving Operating Profit * Operating Profit Consumer Consolidated Energy Automotive Finance Other YTL mn Durables Total 1H08 1,119 332 259 506 1,217 3,433 Total Operating Profit (YTL mn) Segmental Operating Profit Breakdown (%) Durables 111% Automotive 8% 10% 3,433 Finance 15% Energy 1,626 33% Nor
Slide 8: Operating Profit and Margin by Segments
Operating Profit and Margin by Segments Segment Contribution to Operating Profit (YTL mn) 2090% 52% 1,217 1,119 41% 15% 734 91% 506 332 359 303 259 174 56 64 Normalized Ene rgy Autom otive Durable s Finance Othe r 1H07 1H08 Operating Profit Margin by Sectors 117.6 (%) 17.2 13.8 8.9 8.2 7.6 6.4 6.5 6
Slide 9: Sustainable Growth in Margins Continues
Sustainable Growth in Margins Continues EBITDA Margin (%) EBITDA Margin excl. Finance (%) 13.6 13.0 9.2 9.5 8.4 8.4 7.9 7.1 Normalized Normalized 1H06 1H07 1H08 1H06 1H07 1H08 Operating Profit Margin (%) 12.2 7.5 8.1 6.0 Normalized 1H06 1H07 1H08 9
Slide 10: Increasing Profitability
Increasing Profitability Net Income Margin (%) Net Income Margin (%) After Minority Interest 8.7 6.1 7.3 4.1 1H07 1H08 1H07 1H08 RoAE (%) 33.5 28.6 1H07 1H08 10
Slide 11: Net Cash Position Following the Sale of Migros and Koç Allianz
Net Cash Position Following the Sale of Migros and Koç Allianz Koç Holding Current Stand-alone Net Cash SPV Current Net Debt • ~ US$ 1.1 bn • US$ 1.3bn • 10 year maturity • Self financing mechanism - redemption schedule linked to Tüpraş dividend stream • Resilient against FX and interest rate volati
Slide 12: Thank You
Thank You 12
Slide 13: Shareholder Structures as of July 2008
Shareholder Structures as of July 2008 Koç Holding Koç Family: 70.52% Free Float: 20.34% Vehbi Koç Foundation: 7.15% Koç Pension Fund: 1.97% Energy Automotive Consumer Durables Finance Other Ford Otosan Arçelik Koç Financial Services Tat Konserve Tüpraş KH share: 38.46% KH share: 39.14% KH share: 39
Slide 14: For Further Questions, Please Contact:
For Further Questions, Please Contact: Funda Güngör, Coordinator Investor Relations & Economic Research Strategic Planning Group fundag@koc.com.tr +90 216 531 0535 Aslı Selçuk, Manager Investor Relations Strategic Planning Group aslii@koc.com.tr +90 216 531 0537 Neslihan Aycıl, Specialist Investor R
Slide 15: Disclaimer
Disclaimer This presentation contains forward-looking statements that reflect the Company management’s current views with respect to certain future events based on the base-case assumptions. Although it is believed that the expectations reflected in these statements are reasonable, they may be affec