Pinar Sut Mamulleri Sanayii A.s. · BIST:PNSUT
Pinar Sut Mamulleri Sanayii A.s — Pınar Süt — FY2021 Earnings Presentation
15 slides from Pinar Sut Mamulleri Sanayii A.s's earnings presentation, 2022
Slide 1: Pınar Süt Financial Presentation 2021
PINAR SÜT FINANCIAL PRESENTATION 2021
Slide 2: Contents
CONTENTS PINAR SÜT AT A GLANCE HIGHLIGHTS SECTOR DYNAMICS FINANCIALS OWNERSHIP STRUCTURE 2
Slide 3: Pınar Süt at a Glance
PINAR SÜT AT A GLANCE More than Export to 2.68 % 18,9 Raw milk from more than 155 20,000 producers thousand 32 billion TL Pınar Süt’s Share in sales points Countries Turnover Milk and Dairy Product Exports in Turkey Total area of Close area of 56 million TL 348.1 % 32.2 357,360 111,095 Investment Tu
Slide 4: Sector Dynamics – Production and Cost
SECTOR DYNAMICS – PRODUCTION AND COST • Prices of food and non-alcoholic beverages increased by 15.99% in December, and the group's annual inflation increased by 16.69 points to 43.80%. Annual inflation increased to 39.83% in unprocessed food, and to 47.57% in processed food (CBRT-Monetary Policy Co
Slide 5: Sector Dynamics – Production and Cost
SECTOR DYNAMICS – PRODUCTION AND COST Inflation and Raw Milk Prices Progress Production of Dairy Products in Turkey TURKSTAT, NMC TURKSTAT, thousand tons 210 204.3 1,613 719 198.4 1,469 190 2019 170 1,136 1,113 443 159.6 2020 150 740 671 307 698 210 2021 130 588 110 36 90 2020-12 2021-03 2021-06 202
Slide 6: Sector Dynamics – Consumption and Market
SECTOR DYNAMICS – CONSUMPTION AND MARKET Share of Packaged Products Packaged Products Penetration IPSOS 59.7% 57.8% 99.5% 100.0% 99.4% 100.0% 46.4% 48.9% Milk Cheese Milk (UHT) Cheese 2020 2021 Dairy Products Market Turnover Breakdown Nielsen, Exc. Ayran D.M., 2021 Butter 8% 4% • According to Nielse
Slide 7: Market Position
MARKET POSITION Market Shares Based on Products Pınar Süt and Competitors Nielsen, Exc. DM, Nielsen, Exc. D.M., 2021 2021 Product Share Position Total UHT Milk 28.6% 1# Pınar Closest Competitor UHT Light Milk 44.5% 1# Enriched Milk (Kids) 68.7% 1# Protein Milk 67.3% 1# Total Cheese 11.6% 3# Total UH
Slide 8: Market Position – Export
MARKET POSITION EXPORT Export to • As a result of the marketing efforts that continued throughout the year, Pınar Süt 32 increased the number of countries it exports to 32 and Pınar Süt realized 18.9% of Countries Turkey's total dairy product exports throughout 2021. (Except industrial milk powder a
Slide 9: Financials – Net Sales Breakdown
FINANCIALS *Other NET SALES 12% BREAKDOWN Dairy Products 88% *Fruit juice, sauce, other Export 16% Direct 1% *Yaşar Birleşik Pazarlama, the YBP distribution company of Yaşar 83% Food Group. 9
Slide 10: Financials – Income Statement
FINANCIALS INCOME STATEMENT 01.01.21 01.01.20 (Million TL) 12.31.2021 12.31.2020 Difference Change Net Sales 2,681.9 2,028.5 653.5 32.2% Cost of Goods Sold (2,333.8) (1,766.4) (567.5) 32.1% Gross Profit 348.1 262.1 86.0 32.8% R&D Expenses (17.9) (16.1) (1.7) 10.8% Sales, Distribution and Marketing (
Slide 11: Sales and Profitability – Annually
FINANCIALS SALES AND PROFITABILITY - ANNUALLY Net Sales Gross Profit million TL 345.0 20.0% 322.0 299.0 15.9% 15.6% 12.9% 13.0% 18.0% 16.0% 276.0 253.0 230.0 12.2% 348.1 14.0% 12.0% 207.0 184.0 262.1 10.0% 161.0 2,682 138.0 8.0% 2,028 115.0 231.6 1,665 203.1 6.0% 1,240 1,488 92.0 69.0 196.8 4.0% 46.
Slide 12: Sales and Profitability – Quarterly
FINANCIALS SALES AND PROFITABILITY - QUARTERLY Net Sales Gross Profit million TL 2,682 16.0% 2,028 12.9% 13.0% 13.1% 12.2% 1,665 8.7% 676 806 546 2019 2020 2021 Q3-21 Q4-21 Q4-20 2019 2020 2021 Q3-21 Q4-21 Q4-20 EBITDA Net Profit 10.1% 11.0% 6.1% 5.1% 5.3% 4.4% 4.8% 2.1% 2.0% 2.0% 0.3% -0.9% 2019 20
Slide 13: Financial Ratios, Investments and Credit Rating
FINANCIALS FINANCIAL RATIOS 2017/12 2018/12 2019/12 2020/12 2021/12 Current Ratio 1.21 1.07 1.23 1.10 1.12 Leverage Ratio 0.43 0.44 0.42 0.45 0.42 Current Borrowings/Total Borrowings (Fin.) 0.64 0.81 0.44 0.74 0.86 Net Fin. Borrowings/EBITDA 1.70 1.14 1.62 2.85 2.91 Net Fin. Borrowings/Equity 0.21 0
Slide 14: Ownership Structure
OWNERSHIP STRUCTURE SHAREHOLDING STRUCTURE OF PINAR SÜT (%) OTHER YAŞAR 38.59 Borsa Borsa İstanbul Istanbul Sembolü: Symbol: PNSUT PNSUT HOLDİNG A.Ş. Borsainİstanbul'da Bulunduğu Pazar: Ana Pazar Market Borsa Istanbul: Main Market 61.41 İlkTransaction First İşlem Tarihi:Date: 3.02.1986 February 3, 1
Slide 15: Disclaimer and Contact Information
DISCLAIMER AND CONTACT INFORMATON 15