Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi · BIST:DOAS
Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi — Doğuş Otomotiv Servis ve Ticaret A.Ş. — Q1 2021 Earnings Presentation
22 slides from Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi's earnings presentation, May 11, 2021
Slide 1: 1Q 2021 Analyst Briefing Presentation
1Q 2021 ANALYST BRIEFING PRESENTATION Kerem Talih 11 May 2021 1 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 pa
Slide 2: 2 and
2 and 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 third parties.
Slide 3: Jan-Mar 2021 Doğuş Otomotiv Main Segment Sales
JAN - MAR 2021 DOGUS OTOMOTIV MAIN SEGMENT SALES Retail 250.000 200.000 150.000 100.000 50.000 RETAIL MARKET 0 Retail PV Prem LCV HCV March 20 126.830 99.630 8.850 24.773 2.427 March 21 204.675 156.464 13.553 42.196 6.015 ∆ 61% 57% 53% 70% 148% 50.000 40.000 30.000 DOAS 20.000 PERFORMANCE 10.000 0 S
Slide 4: Competition (Retail)
COMPETITION (Retail) VW PC ranked 3rd in the RETAIL MARKET 2019 2020 YTD March 2020 YTD March 2021 20 Year - End/ March 21 March 20/ March 21 cumulative passenger vehicle ∆ ∆ market with 11,4% market PASSENGER CAR % share. DOGUS OTOMOTİV 23,3 22,5 20,8 22,6 0,1 1,8 RENAULT GROUP 18,2 17,6 22,8 19,3
Slide 5: Jan-Mar 2021 Passenger Vehicle Market (%)
JAN - MAR 2021 PASSENGER VEHICLE MARKET (%) Retail 35,0 31,4 - PC market increased by 57,0% yoy. 30,0 29,8 - DOAS’ leads with a 22,6% market share in 25,0 22,6 22,8 20,8 19,3 the PC market. 20,0 14,8 13,7 - The strongest competitor of DOAS in this 15,0 11,8 13,0 segment is Renault with 19,3% market
Slide 6: Jan-Mar 2021 Light Commercial Vehicle Market (%)
JAN - MAR 2021 LIGHT COMMERCIAL VEHICLE MARKET (%) Retail 40,0 37,1 35,5 - Light Commerical Vehicle market 35,0 increased by 70,3% yoy. 30,0 25,0 21,4 21,7 22,4 21,7 - DOAS has an 8,2% market share in 5th place. 20,0 - Leaders in the LCV market are Ford Otosan 15,0 11,6 12,1 with 35,5% market share
Slide 7: Jan-Mar 2021 Doğuş Otomotiv Brand Sales Performance
JAN - MAR 2021 DOĞUŞ OTOMOTIV BRAND SALES PERFORMANCE WHOLESALE UNITS 03M20 03M21 Δ VW PC 12.565 17.924 43% VW LCV 3.071 3.628 18% AUDI 2.335 2.843 22% SKODA 3.794 8.806 132% SEAT 3.185 3.977 25% SCANIA 159 627 294% PORSCHE 92 223 142% BENTLEY 1 1 0% LAMBORGHINI 3 3 0% DOAS TOTAL 25.205 38.032 51% S
Slide 8: Jan-Apr 2021 Doğuş Otomotiv Main Segment Sales
JAN - APR 2021 DOGUS OTOMOTIV MAIN SEGMENT SALES Retail 300.000 225.000 150.000 RETAIL MARKET 75.000 0 Retail PV Prem LCV HCV April 20 153.768 121.455 11.495 29.405 2.908 April 21 268.333 204.839 18.826 55.309 8.185 ∆ 75% 69% 64% 88% 181% 60.000 45.000 30.000 DOAS PERFORMANCE 15.000 0 Sales PV Prem
Slide 9: Jan-Apr 2021 Doğuş Otomotiv Brand Sales Performance
JAN - APR 2021 DOĞUŞ OTOMOTIV BRAND SALES PERFORMANCE WHOLESALE UNITS 04M20 04M21 Δ VW PC 14.382 24.864 73% VW LCV 3.571 5.105 43% AUDI 3.036 4.425 46% SKODA 4.118 11.697 184% SEAT 3.677 5.435 48% CUPRA 0 61 100% SCANIA 190 899 373% PORSCHE 97 303 212% BENTLEY 4 5 0% LAMBORGHINI 4 4 100% DOAS TOTAL
Slide 10: Financial Performance
FINANCIAL PERFORMANCE Audi – Q2 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 11: Financial Performance (mn TL)
FINANCIAL PERFORMANCE (mn TL) Net Sales EBITDA Net Profit 18.900 1.042 1.575 9.844 6.195 612 541 408 3.181 250 77 125 2019 2020 3M2020 3M2021 2019 2020 3M2020 3M2021 2019 2020 3M2020 3M2021 CapEx Total Assets Working Capital* 8.073 5.401 7.117 4.455 142 4.665 2.330 45 45 14 2019 2020 3M2020 3M2021 2
Slide 12: Margins %
MARGINS % Gross Profit Margin OpEx/Sales EBITDA Margin %8 Kons. 11 -12 % Maks 12,9% 13,1% 13,1% 8,0% 8,3% 8,7% 12,3% 7,9% 6,2% 5,5% 6,2% 4,2% 2019 2020 3M2020 3M2021 2019 2020 3M2020 3M2021 2019 2020 3M2020 3M2021 EBIT Margin Net Profit Margin Wholesale Market Sales* 7,6% 8,1% 100.130 6,9% 6,6% 5,5%
Slide 13: Income Statement Q-on-Q and Y-on-Y Comparisons
INCOME STATEMENT Q-on-Q and Y-on-Y Comparisons TL’000 1Q 2021 4Q 2020 Δ 1Q 2021 1Q 2020 Δ Wholesale Sales Volume (excl. Skoda, incl. 29.226 30.951 -6% 29.226 21.411 36% Scania) Revenue 6.195.463 6.830.410 -9% 6.195.463 3.181.218 95% Direct cost of revenue -5.433.193 -5.907.143 -8% -5.433.193 -2.765.
Slide 14: Income Statement
INCOME STATEMENT Gross Profit Margin was realized as 12,3% Income/Loss from Associates: Financial Costs: parallel to increase of 95% in revenues. Major contributions stem from vdf Group, Škoda Weighted Average Cost of and TüvTürk. Financing for the period was Impacts on revenue and direct cost of 16
Slide 15: Income from Associates
INCOME FROM ASSOCIATES TL’000 31.03.2021 31.03.2020 Δ 2021/2020 Associates vdf Group 36.492 13.786 165% vdf 7.901 9.170 -14% vdf Servis 28.591 4.616 519% Doğuş Sigorta 1.738 850 104% Yüce Auto (Škoda) 10.050 5.714 76% TÜVTÜRK N&S (Consolidated) 44.284 31.246 42% Doğuş Teknoloji 2.378 274 768% Total
Slide 16: Balance Sheet
BALANCE SHEET Inventories: Number of vehicles increased from 13.129 units on 31.12.2020 to 17.004 units on 31.03.2021. Financial Liabilities: Use of financing was realized in line with expectations of TRY 2.6B. Investments in Equity Accounted Investees TL’000 31.03.2021 31.12.2020 Associates Doğuş S
Slide 17: Financing Costs
FINANCING COSTS Million TL 31.03.2021 31.03.2020 Δ 2021/2020 Financing Cost, net 116.425 127.835 -9% Finance Expenses 129.164 140.939 -8% Interest Expense on Borrowings 100.333 108.135 -7% Commission Expenses on Letters of Guarantee 17.330 15.984 8% Foreign Exchange Losses on Borrowings, net 0 9.212
Slide 18: Financial Performance
FINANCIAL PERFORMANCE Million TL 31.03.2021 31.12.2020 Δ Working capital 5.401 4.455 21% Net Cash Position* -1.960 -1.722 -14% Receivable Turnover (day) 22 20 8% Inventory Turnover (day) 57 61 -7% Payable Turnover (day) 37 41 -10% * Net Cash Position is calculated in line with IFRS 16. Bank loans an
Slide 19: Material Event Disclosures in and after 1Q 2021
MATERIAL EVENT DISCLOSURES IN AND AFTER 1Q 2021 22.03.21 – Credit Rating The long- and short-term national rating of our company are "A+(Trk)" and "A-1(Trk)", respectively, with a «stable» outlook. The long- and short-term international foreign/ local currency ratings are as "BB+" and "B", respectiv
Slide 20: 2021 Expectations
2021 EXPECTATIONS Mobility Digitalization Service Areas Operational Efficiency and Optimum Profitability Cautious Expenditure Management OEM Strategy: Maintain represented brands’ competitive position. Total Automotive Market Investment Expenditure (PC+LCV+HCV) TRY 360 mn 700,000 units ● Expenditure
Slide 21: Thank You – Q & A
THANK YOU – Q & A Porsche – Taycan 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 22: 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. — Q1 2021 Earnings Presentation on 6ix