Bim Birlesik Magazalar A.s. · BIST:BIMAS

Bim Birlesik Magazalar A.s — Q2 2013 Earnings Presentation

17 slides from Bim Birlesik Magazalar A.s's earnings presentation, August 2013

  1. Slide 1: BIM results for the 3 months to 30 June 2013

    BIM. Forthe 3 months to 30 June 2013

  2. Slide 2: Notice

    NOTICE The information contained in this document has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. Neither t

  3. Slide 3: Headlines for Q2 2013

    HEADLINES FOR Q2 2013 Strong growth in second quarter continued: NET SALES at 2.833,6 Mio TL (20%+ on Q2 2012) EBITDA at 133,4 Mio TL (29%+ on Q2 2012) NET INCOME at 92,7 Mio TL (34%+ on Q2 2012) Like for Like sales up 11,0% Continued expansion – 124 new stores in Turkey, 10 in Morocco and in April

  4. Slide 4: Quarterly Net Sales and Gross Profit

    QUARTERLY NET SALES AND GROSS PROFIT TL Million 3000 600 Net Sales Gross Profit 2.833,6 2.795,5 2500 2.581,7 500 2.543,8 2.352,9 2000 434,4 442,0 400 402,8 408,1 369,6 1500 300 1000 200 500 100 0 0 2Q12 3Q12 4Q12 1Q13 2Q13 Gross Margin 15,7% 15,8% 15,8% 15,5% 15,6% 4

  5. Slide 5: Quarterly EBITDA and EBIT

    QUARTERLY EBITDA and EBIT TL Million 150 143,3 EBITDA EBIT 133,4 126,3 128,8 125 117,2 103,4 102,3 104,1 106,2 100 80,4 75 50 25 0 2Q12 3Q12 4Q12 1Q13 2Q13 EBITDA 4,4% 5,0% 5,0% 5,1% 4,7% EBIT 3,4% 4,0% 4,0% 4,2% 3,7% EBITDA – EARNINGS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTIZATION EBIT – EARNI

  6. Slide 6: Quarterly Net Income

    QUARTERLY NET INCOME TL Million Net Income 100 97,2 92,7 86,3 85,0 75 69,2 50 25 0 2Q12 3Q12 4Q12 1Q13 2Q13 Net income 2,9% 3,4% 3,2% 3,5% 3,3% margin 6

  7. Slide 7: Like for Like Sales Increase

    LIKE FOR LIKE SALES INCREASE Quarterly Semi - annually 2012 Q2 2013 Q2 INCREASE 2012 H1 2013 H1 INCREASE Like For Like Like For Like 2.092,3 2.322,6 11,0% 4.282,9 4.675,4 9,2% Sales (Mil TL) Sales (Mil TL) (**) Like For Like Like For Like 10,14 10,71 5,6% 10,46 10,85 Basket (TL) Basket (TL) 3,7% Lik

  8. Slide 8: Private Label Sales Continue to Grow

    PRIVATE LABEL SALES CONTINUE TO GROW 1H12 1H13 BRANDED BRANDED 21,5% PRIVATE PRIVATE 21,9% LABEL LABEL 66,6% 67,3% EXCLUSIVE EXCLUSIVE 6,4% 5,6% SPOT SPOT 5,1% 5,6% 8

  9. Slide 9: Low-Capex Business Model

    LOW-CAPEX BUSINESS MODEL TL Million % of Net Sales 80 Quarterly CAPEX 4% % of Net Sales 70,1 60 62,1 3% 56,7 54,5 2,6% 2,5% 40 45,0 2% 2,1% 2,0% 1,8% 20 1% 0 0% 2Q12 3Q12 4Q12 1Q13 2Q13 9

  10. Slide 10: Store Growth Continues

    STORE GROWTH CONTINUES Number of Stores 4000 Stores in Turkey 3.859 3.735 3500 3.655 3.584 3.527 3000 2500 2000 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 10

  11. Slide 11: BIM Morocco Update

    BIM MOROCCO UPDATE 30.6.2012 30.9.2012 31.12.2012 31.3.2013 30.6.2013 No. of Stores 96 103 110 120 130 20 new stores in 1H 2013 and we have 136 to date We have opened second region in South Casablanca in August to accelerate number of stores 11

  12. Slide 12: BIM Egypt Update

    BIM EGYPT UPDATE BIM Stores are in Egypt First stores opened in April To date we have 26 stores Turmoil is going on today 12

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  14. Slide 14: IFRS Financials

    IFRS FINANCIALS

  15. Slide 15: IFRS Income Statement

    IFRS INCOME STATEMENT 3 months ended 30 June 6 months ended 30 June TL million 2012 2013 2012 2013 Net Sales 2.352,9 2.833,6 4.780,8 5.629,1 (COGS) (1.983,3) (2.391,6) (4.032,6) (4.752,7) Gross Profit 369,6 442,0 748,3 876,4 Total SG&A (266,2) (308,6) (512,2) (599,7) EBITDA 103,4 133,4 236,0 276,7 D

  16. Slide 16: IFRS Balance Sheet

    IFRS BALANCE SHEET As of 30 June TL million Q2 2012 Q2 2013 Intangible assets 2,7 3,4 Tangible assets 735,6 917,4 Other non-current assets 24,0 28,1 Total non-current assets 762,3 948,9 Trades receivable 276,1 311.2 Inventories 512,7 643,8 Prepayment and other assets 54,6 116.8 Trades payable (1.090

  17. Slide 17: IFRS Cash Flow

    IFRS CASH FLOW 3 months ended 30 June 6 months ended 30 June TL million 2012 2013 2012 2013 Net Income 69,2 92,7 160,1 190,0 D&A 23,0 27,2 44,8 53,3 Other non-cash items 2,8 (8,8) (0,4) (13,5) Funds from operations 95,0 111,1 204,5 229,8 Change in net working capital (24,5) 10,7 (64,8) 74,2 Operatin

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