Haci Omer Sabanci Holding A.s. · BIST:SAHOL
Haci Omer Sabanci Holding A.s — Hacı Ömer Sabancı Holding A.Ş. — Q2 2021 Earnings Presentation
23 slides from Haci Omer Sabanci Holding A.s's earnings presentation, Aug 12, 2021
Slide 1: Q2 2021 Earnings Presentation
# SabancıofNewGeneration Q2 2021 EARNINGS PRESENTATION August 12, 2021
Slide 2: Disclaimer
Disclaimer The information and opinions contained in this document have been compiled by Hacı Ömer Sabancı Holding A.Ş. (“Holding”) from sources believed to be reliable and in good faith, but no representation or warranty, expressed or implied, is made as to their accuracy, completeness or correctne
Slide 3: H1 2021 Highlights
H1 2021 Highlights Solid growth with strong profitability Outstanding cash flow generation & deleveraging Renewed record in non-bank ROE: 18.8% On our way to Zero Waste & Net Zero Emissions with implementation of 80 new actions Closely following vaccine rollout and new variants by keeping all pandem
Slide 4: H1 2021 / Solid growth & strong profitability
H1 2021 / Solid growth & strong profitability... Combined Revenue* Combined EBITDA* Consolidated Net Income* (TL mn) (TL mn) (TL mn) Non-bank Non-bank** Non-bank** 61,493 12,707 Bank** Bank Bank +27% +33% +48% 3,529 48,299 22,626 9,562 5,980 18,641 2,383 1,819 4,431 1,280 38,867 6,727 29,658 5,131 1
Slide 5: H1 2021 / Outstanding cash flow generation & deleveraging
H1 2021 / ...with outstanding cash flow generation & deleveraging… Operational Cash Flow, Combined for Non-Bank* Combined Net Financial Debt to Non-Bank EBITDA* (TL bn) 3.7x 10.8 CAGR: +28% 9.5 3.1x Annual: +41% 2.3x 2.2x 5.6 4.6 4.8 1.5x 4.1 1.4x 3.4 2016 2017 2018 2019 2020 H1 2020 H1 2021 2016 20
Slide 6: H1 2021 / Renewed record in non-bank ROE
H1 2021 / …leading to a renewed record in non-bank ROE Return on Equity* Holding Only - Net cash position (TL bn) Non-Bank 17.1% ROE : 18.8% Annual: 13.3% 16.0% 16.2% 13.7% 15.9% +13% 13.1% 14.5% 14.5% 2.6 12.7% 12.8% 13.7% 12.2% 12.2% 13.6% 10.9% 10.9% 10.4% 9.3% 1.7 1.7 1.8 8.4% 1.6 1.1 1.1 2016 2
Slide 7: Q2 Combined Revenues / Strong non-bank growth
Q2 Combined Revenues / Strong non-bank growth on accelerating volume growth Combined Revenue* (TL mn) Combined Revenue* Breakdown 437 1,780 35% 1,877 BUILD OTHER 3,188 MAT. 1% FIN. 6% 1,015 262 3,639 SERV. 1,362 6% ENERGY 1,541 29% INDUST. OTHER* 2,810 10% BULD. MAT. FIN. SERV. 12,001 32.1 INDUSTRIA
Slide 8: Q2 Combined EBITDA / Strong performance on cost controls
Q2 Combined EBITDA / Strong performance on cost controls & higher capacity utilization Combined EBITDA* (TL mn) Combined EBITDA* Breakdown 36% 48 392 BUILD. MAT OTHER 113 283 FIN. 6% 1% SER. 698 RETAIL** 4% 2% ENERGY 188 12 29% 330 INDUSTRIALS OTHER 268 61 10% BULD. MAT. 3,237 6.7 FIN. SERV. RETAIL*
Slide 9: Q2 Consolidated Net Income
Q2 Consolidated Net Income / Solid operational performance pass through & deleveraging Consolidated Net Income* (TL mn) Consolidated Net Income* Breakdown 89 48% 89 85 OTHER 5% ENERGY 276 INDUSTRIALS 18% 15% 80 30 OTHER 90 FIN. SERV. 41 5% BULD. MAT. 991 RETAIL** 1.8 FIN. SERV. RETAIL** 646 -4% BN T
Slide 10: Energy / Operating performance remained resilient
Energy / Operating performance remained resilient despite continuous weakness in hydrology Energy Segment Summary Financials* MILLION TL Q2 2020 Q2 2021 Change H1 2020 H1 2021 Change SALES 7,275 9,226 27% 15,140 17,725 17% Current Assessment EBITDA** 1,840 1,937 5% 3,608 3,811 6% Distribution & Reta
Slide 11: Industrials / Sharp demand recovery
Industrials / Sharp demand recovery on last year’s low base & operational efficiency Industrials Summary Financials* MILLION TL Q2 2020 Q2 2021 Change H1 2020 H1 2021 Change SALES 1,541 3,188 107% 3,740 6,175 65% Current Assessment EBITDA** 268 698 160% 657 1,411 115% Ongoing strong demand at both t
Slide 12: Building Materials / Rock solid financial performance
Building Materials / Rock solid financial performance prevailed Building Materials Summary Financials* MILLION TL Q2 2020 Q2 2021 Change H1 2020 H1 2021 Change SALES 1,015 1,780 75% 1,812 3,033 67% Current Assessment EBITDA** 188 392 108% 254 612 141% Uptick in domestic demand NET INCOME** 60 205 24
Slide 13: Retail / Strong operational performance continued
Retail / Strong operational performance continued Retail Summary Financials* MILLION TL Q2 2020 Q2 2021 Change H1 2020 H1 2021 Change SALES 2,810 3,639 30% 5,629 7,189 28% Current Assessment EBITDA** 184 256 39% 353 542 54% Top line growth exceeding inflation EBITDA**-Comparable 61 113 86% 106 265 1
Slide 14: Financial Services (Insurance) / Solid life performance
Financial Services(Insurance) / Solid performance in life business partly offset weakness in non-life Financial Services (pension & insurance) Summary Financials* MILLION TL Q2 2020 Q2 2021 Change H1 2020 H1 2021 Change SALES 1,362 1,877 38% 2,923 3,861 32% Current Assessment EBITDA** 330 283 -14% 5
Slide 15: Bank / Well positioned to remain healthy & profitable
Bank / Well positioned to remain healthy & profitable Summary Combined Financials MILLION TL Q2 2020 Q2 2021 Change H1 2020 H1 2021 Change Achievements REVENUE 9,512 12,001 26% 18,641 22,626 21% EBITDA 2,251 3,237 44% 4,431 5,980 35% Generated all time high profit before tax & NET INCOME* 646 991 53
Slide 16: Sustainability / On our way to Zero Waste & Net Zero Emissions
Sustainability / On our way to Zero Waste & Net Zero Emissions 3 Key Sustainability Indicators Out of ~30 Assured by (2020 non-bank figures – selected from key indicators) Long Term goals Zero Waste Combined revenues from Sustainable Products & Sustainability-focused Net Zero Emissions Sustainable P
Slide 17: H1 2021 Key Take-Aways
H1 2021 Key Take-Aways Solid growth with strong profitability Outstanding cash flow generation & deleveraging Renewed record in non-bank ROE: 18.8% On our way to Zero Waste & Net Zero Emissions with implementation of 80 new actions Maintaining medium-term guidance 17
Slide 18: Appendix
APPENDIX 18
Slide 19: Capital Allocation and Mid-term Guidance
Capital Allocation and Mid-term Capital Allocation and Mid-term Guidance / Sabancı Mid-term guidance Guidance 01 Growth Mid-term 02 Return 03 Sustainability 2014-19 targets Revenue growth CPI2 + 6% CPI1 + 8% Dividend payment Zero Waste Net Zero Emissions EBITDA3 growth CPI2 + 8% CPI1 + 10% High divi
Slide 20: Appendix / Financials in detail
Appendix / Financials in detail Combined Revenue* Combined EBITDA* Consolidated Net Income* MILLION TL Q2 2020 Q2 2021 Change H1 2020 H1 2021 Change Q2 2020 Q2 2021 Change H1 2020 H1 2021 Change Q2 2020 Q2 2021 Change H1 2020 H1 2021 Change TOTAL 23,778 32,148 35% 48,299 61,493 27% 5,073 6,850 35% 9
Slide 21: Appendix / Sabancı Holding Discount to NAV
Appendix / Sabancı Holding Discount to NAV USDmn June 2021 December 2020 Companies Direct Stakes Valuation Method Mcap Value of Stake % of NAV Value of Stake % of NAV NAV Discount Akbank 41% Market value 3,157 1,286 29.4% 1,978 33.6% Enerjisa Enerji 40% Market value 1,405 562 12.9% 796 13.5% Aksigor
Slide 22: Appendix / IFRS16 Impact on Financials
Appendix / IFRS16 Impact on Financials In accordance with In IFRS16, most leased items with a duration longer than one year have to be included as an asset in the company books. In addition, the payments that will be made on the lease agreement have to be reported as a liability on the balance sheet
Slide 23: Thank You
INVESTOR RELATIONS THANK YOU CONTACTS Kerem TEZCAN Investor Relations Director ktezcan@sabanci.com Şule GENÇTÜRK KARDIÇALIOĞLU Investor Relations Specialist skardicalioglu@sabanci.com investor.relations@sabanci.com
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