Migros Ticaret A.s. · BIST:MGROS
Migros Ticaret A.s — H1 2013 Earnings Presentation
12 slides from Migros Ticaret A.s's earnings presentation, August 2013
Slide 1: Migros Ticaret A.Ş. 1H 2013 Financial Results
Migros Ticaret A.Ş. 1H 2013 Financial Results August 2013 Ortakoy Migros Store, new concept
Slide 2: Disclaimer Statement
Disclaimer Statement Migros Ticaret A.Ş. (the “Company”) has prepared this presentation for the sole purpose of providing information about its business, operations and financial results. The information in this presentation is subject to updating, revision and amendment. The information in this pre
Slide 3: Contents
CONTENTS Sales Expansion Operations Overview Kanyon Macrocenter Kanyon Macrocenter , İstanbul Financial Key Financial Overview Metrics Guidance Appendix Ortakoy Migros Store, new concept 2
Slide 4: Sales in 1H 2013
Sales in 1H 2013 Consolidated sales reached TL 3,311 million corresponding to a calendar adjusted yearly growth rate of 10.6%*. Quarterly Sales (TL million) Sales (TL million) 1,721 Construction 1,591 3,311 1,552 1,440* 2,993* 1Q 2012 2Q 2011 1Q 2013 2Q 201122Q 2012 2Q 2013 1H 2012 1H 2013 (*): Ne
Slide 5: Expansion: Accelerated Store Openings
Expansion: Accelerated Store Openings Domestic Sales Area Split by Format –1H 2013 71 new store openings in 2Q2013 112 new stores, including 109 supermarkets, 2 hypermarkets and 1 Ramstore have been added to the store network in the first half of 2013. Number of stores reached 967 including op
Slide 6: Operations Overview / Key Highlights
Operations Overview / Key Highlights Core Business: Mid/Large Supermarkets Supermarket: Well positioned in accelerating trading up Accelerated store New concept for mid/large stores are openings with 5 new being tested in some stores in the best important locations, locations of the which also i
Slide 7: Financial Overview in 1H 2013
Financial Overview in 1H 2013 Solid Gross Profit Generation Solid EBITDA Generation Gross profit increased by 9.9% y-o-y to TL 878 EBITDA rose by 4.8% y-o-y to TL 206 million million. Strong gross margin, 26.5%, has been and the Company delivered 6.2% EBITDA margin in maintained in 1H2013. 1H 20
Slide 8: Key Financial Metrics
Key Financial Metrics Sustainable EBITDA generation* EBITDA Net Debt/EBITDA improved Net Debt / EBITDA Improved Negative Cash Conversion Cycle** Working Capital (**): Domestic operations (*) The last 12 months EBITDA generation in 1H 2013 for the comparability purposes 7
Slide 9: Guidance 2013 and Medium Term
Guidance 2013 and Medium Term .Sales growth : Double digit sales growth . Gross profit : Full year gross margin range 25.5% – 26.0% . EBITDA margin : Full year EBITDA margin range 6.0% – 6.5% . Expansion target : 120-150 new supermarkets and 2-3 hypermarkets per year Present cities Cities no
Slide 10: Appendix
Appendix
Slide 11: Summary of Income Statement – 1H 2013
SUMMARY OF INCOME STATEMENT – 1H 2013 IFRS Consolidated Income Statement Summary Change (Million TL) 1H2013 1H2012 (%) Net Sales 3,311.2 3,007.2 10.1 Cost of sales -2,433.3 -2,208.4 10.2 Gross Profit 877.9 798.8 9.9 Operating Expenses -762.8 -680.1 12.2 Other Operating Income / (Expense) -19.7 -39.2
Slide 12: Summary of Balance Sheet – 1H 2013
SUMMARY OF BALANCE SHEET – 1H 2013 IFRS Consolidated Balance Sheet Summary (Million TL) 1H2013 2012 Current Assets 2,045.4 1,908.6 Non-current Assets 3,750.4 3,715.8 Total Assets 5,795.7 5,624.3 Current Liabilities 2,195.8 1,875.1 Non-current Liabilities 2,451.8 2,487.1 Total Liabilities 4,647.6 4,3