Pinar Sut Mamulleri Sanayii A.s. · BIST:PNSUT
Pinar Sut Mamulleri Sanayii A.s — Pınar Süt Mamulleri Sanayii A.Ş. — Q1 2015 Earnings Presentation
23 slides from Pinar Sut Mamulleri Sanayii A.s's earnings presentation, 2015
Slide 1: Pınar Süt Mamulleri Sanayii A.Ş. Earnings Presentation, 2015 Q1
PINAR SÜT MAMULLERİ SANAYİİ A.Ş. Earnings Presentation, 2015 Q1
Slide 2: Highlights
Highlights • Innovator and pioneer •Most admired company in Turkey* •Hygienic production according •Best fruit juice brand*** to EU norms • More than 200 SKUs •One of the top ten most reputable •Technological and industrial • R&D expertise brands**** knowledge •One of the superbrands in •Energy-effi
Slide 3: Market Dynamics
Market Dynamics Livestock Assets in Turkey Total Milk Production in Turkey (Million Tons) 18.2 18.5 2013 2014 17.4 Livestock Assets 53.0 m 57.3 m +8.0% 15.1 13.5 Cattle 27.2% 25.8% 12.0 12.3 12.2 12.5 +1,51% Sheep 55.2% 56.2% 10.6 10.7 11.1 Goat 17.4% 17.8% 8.4 Water Buffalo 0.2% 0.2% CAGR 6.8 % Tot
Slide 4: Market Dynamics - II
Market Dynamics - II Packaged Milk Market (Volume) UHT Milk Market (Volume) 6.1% 05% 01% 0.4% 01% 93.6% 93% Kephir Pasteurized Milk UHT Milk Plain Flavoured Light Others Total Cheese Market (Value) Sliced Source: IPSOS, 2015 Q1 Cheese; 1% Kashkaval Cheese; 22% Spreadable Cheese; 5% Specialty Cheese;
Slide 5: Market Dynamics - III
Market Dynamics - III Price of Food Products Raw Milk Base Prices in Turkey (TL/lt) Food Prices Processed Foods Change % Unprocessed Foods 2015 2014 2013 1.25 ₺ Unprocessed 1.10 ₺ food inflation 0.95 ₺ continued to rise and 0.80 ₺ climbed to 0.65 ₺ 17.93% in 0.50 ₺ 2015 Q1. January April July Octobe
Slide 6: Market Shares - I
Market Shares - I Billion TL 17.6% Product Share Position 3.0 17.1% 17.2% 17.5% 20.0% 17.0% UHT Light Milk 72% #1 15.0% 2.0 Total UHT Milk 30% #1 10.0% Organic Milk * 92% #1 2.79 2.53 2.76 1.0 Enriched Milk (Kids) 77% #1 5.0% Homogenized Yoghurt 10% #2 0.64 0.71 0.0 0.0% Spreadable Cheese 36% #1 201
Slide 7: Market Shares - II
Market Shares - II 71.8% UHT Light Milk 64.5% 63.9% 61.1% Spreadable Cheese 41.8% 37.8% 37.1% 36.1% 31.8% 30.8% 31.1% Total UHT Milk 30.1% 10.1% 10.6% 10.3% Homogenized 9.6% Yoghurt 2012 2013 2014 1Q15 Source: Nielsen, 2015 Q1 Value Share 6
Slide 8: New Products
New Products Pınar Haloumi Cheese Pınar Wire Cheese Pınar Braided Cheese Pınar String Cheese Pınar Cheddar Cheeses (Sliced) New Products Pınar Strained Yoghurt Pınar Strained Cheese 7
Slide 9: New Products
New Products Pınar Organic Pasteurized Milk Pınar Organic 750 ml Pınar Semi-skimmed Plain Milk New Products Pınar Organic Butter Crazy Series Pınar Pink 8
Slide 10: Campaigns
Campaigns Pınar Kido New Packing Pınar Kido Rainbow Pınar Fruits
Slide 11: Export
Export In 2014 Pınar Süt accounted for 16% of Turkey’s Dairy Products Breakdown of Net Sales (2015 Q1) Exports itself Direct; Others; Exports to 26 different countries which include Middle 5% 16% East, Europe, USA and Asia. Azerbaija Export; n; 4% S.Arabi; Pınar Süt is an authorized company to
Slide 12: Şanlıurfa Investment
Şanlıurfa Investment Raw milk collected from Şanlıurfa and cities around it. Pınar Süt Şanlıurfa Facility The milk and dairy products will be produced in the Closed Area 18.239 m2 factory. The product range will be expanded depending Open Area 79.267 m2 on the needs. Total Area 97.506 m2 Found
Slide 13: Financial Results
PINAR SÜT MAMULLERİ SANAYİİ A.Ş. Financial Results
Slide 14: Sales and Profitability
Sales and Profitability Net Sales (m TL) Net Profit (m TL) 940.5 71.8 71.7 margin 67.8 809.8 727.1 7.0 % 9.7 % 9.6 % 22.3 25.5 223.7 239.4 2012 2013 2014 1Q14 1Q15 2012 2013 2014 1Q14 1Q15 EBITDA* (m TL) In 2015 Q1, Net Sales grew by %7.0 due to sales price increases. 87.1 margin The increase in
Slide 15: Income Statement
Income Statement YTD 31-Mar-15 31-Mar-14 Difference % Change (in million TL) Net Sales 239.4 223.7 15.7 7.0 Cost of goods Sold (194.6) (181.8) (12.7) 7.0 Gross Profit 44.9 41.9 3.0 7.1 R&D Expenses (2.1) (1.7) (0.4) 21.5 Sales, Distribution and Marketing (15.3) (15.2) (0.2) 1.0 Expenses General Admi
Slide 16: Profit Margins
Profit Margins Gross Margin EBIT* 19.9% 8.1% 8.3% 7.3% 6.7% 18.6% 18.7% 18.7% 5.8% 5.3% 16.8% 16.9% 2012 2013 2014 1Q14 1Q15 4Q14 2012 2013 2014 1Q14 1Q15 4Q14 EBITDA** Net Profit 10.6% 13.5% 10.0% 9.3% 8.9% 7.6% 9.3% 9.6% 9.7% 7.0% 8.3% 7.9% 2012 2013 2014 1Q14 1Q15 4Q14 2012 2013 2014 1Q14 1Q15 4Q
Slide 17: Basic Ratios, Net Borrowings, Working Capital
Basic Ratios, Net Borrowings, Working Capital 31-Mar-15 31-Dec-14 31-Mar-15 31-Dec-14 (Milyon TL) Current Ratio 1.10 1.42 Cash and Cash Equıivalents 0.61 2.39 Leverage Ratio 0.40 0.32 Current Borrowings 11.37 7.37 Current Borrowings/Total Borrowings 0.74 0.55 Long Term Borrowings 4.00 6.00 Net Borro
Slide 18: Overview of 2015 Q1
Overview of 2015 Q1 Despite an %11 increase in raw material prices, Pınar Süt sustained its growth and attained an increase in its net profit margin. The Şanlıurfa investment has commenced its production as planned, in the end of the first quarter in 2015. Following our strategy of increasing
Slide 19: Strategies and Targets
Strategies and Targets Growing above market growth rates in the segments we operate in Effective price management Widespread distribution network Efficient utilization of social media Developments in “Away From Home” channel Increasing export sales also in countries falling outside Gulf
Slide 20: Ownership & Participation Structure & Auditors
Ownership & Participation Structure & Auditors Ownership Structure Auditors Yaşar Holding A.Ş. 61% Financial Affairs Free Float 39% Nexia Ernst&Young Production Participations Breau Veritas Share in Capital % TSE Yasar Birleşik Pazarlama A.Ş. 31.8 Bintur Catering A.Ş. 1.3 Alberk QA Desa Enerji A.Ş.
Slide 21: Stock Performance
Stock Performance 180 30,00 24,10 160 100,00 25,00 140 120 20,00 100 146,99 15,00 80 60 10,00 14,36 40 5,00 20 - 0,00 Relative to XU100 PNSUT Corporate Governance Rating : 9,09 Borsa İstanbul Ticker Symbol: PNSUT Date of Listing : 03.02.1986 20
Slide 22: Disclaimer and Contact Information
Disclaimer and Contact Information This presentation does not constitute an offer or invitation to purchase or subscription for any securities and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. This presentation contains forward-look
Slide 23: Thank You
Thank You
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