Pinar Sut Mamulleri Sanayii A.s. · BIST:PNSUT
Pinar Sut Mamulleri Sanayii A.s — Pınar Süt — H1 2023 Earnings Presentation
18 slides from Pinar Sut Mamulleri Sanayii A.s's earnings presentation, 2023
Slide 1: Pınar Süt Financial Presentation 2023-H1
PINAR SÜT FINANCIAL PRESENTATION 2023-H1
Slide 2: Contents
CONTENTS PINAR SÜT AT A GLANCE MARKET DYNAMICS PINAR SÜT ACTIVITIES MARKET POSITION FINANCIALS RESULTS SHAREHOLDING STRUCTURE & STOCK PERFORMANCE 2
Slide 3: Pınar Süt at a Glance
PINAR SÜT AT A GLANCE 3,93.9 billion TRY 58.8% Turnover Turnover Growth Raw milk supplied More than 155 from more than thousand sales 20,000 producers points 42,7 TRY 23.8 million 23,8 TRY 414.2 million 414,2 in Investment Gross Profit % 18,9 Pınar Süt’s Share in Export to Milk and Dairy Product 30
Slide 4: Market Dynamics - Production and Cost
MARKET DYNAMICS - PRODUCTION AND COST • The prices of the food and non-alcoholic beverages group increased by 7.71% in July, causing the annual inflation to rise by 6.80 points to 60.72%. It was observed that the price increases in food were spread across the group. Processed food prices increased b
Slide 5: Market Dynamics - Production and Cost
MARKET DYNAMICS - PRODUCTION AND COST Total Milk and Total Cheese Turnover and Volume Nielsen, Excl. DM, 2023-6M 2023-6M 178,9 million 185,6 2022-6M litres million 59,0 51,4 million litres million kg kg Total Milk Total Cheese Production of Dairy Products in Turkey TURKSTAT, thousand tons • Accordin
Slide 6: Market Dynamics - Consumption and Market
MARKET DYNAMICS - CONSUMPTION AND MARKET Share of Packaged Products Packaged Products Penetration IPSOS 57,8% 60,0% 96,6% 97,2% 43,4% 84,3% 80,9% 40,1% Milk Cheese Milk (UHT) Cheese 2021 2022 Dairy Products Market Turnover Breakdown Nielsen, Excl. DM, 2023-6M • According to the second quarter 2023 N
Slide 7: Pınar Süt Activities
PINAR SÜT ACTIVITIES Pınar Süt increased its revenue by 58.9% in the first six months of 2023. • Based on the results for the first six months of the year 2023, our company's net sales revenue increased by 58.79% compared to the first six months of 2022, reaching 3,889 million TL. The net profit for
Slide 8: Market Position
MARKET POSITION Market Shares of Pınar Süt Pınar Süt and Competitors Nielsen, İM Hariç, Nielsen, Excl. DM, 2023-H1 2023-H1 Product Share Position Total UHT Milk 30.1% 1# UHT Light Milk 22.9% 2# Enriched Milk (Kids) 55.9% 1# Protein Milk 64.1% 1# Total Cheese 11.8% 3# Spreadable Cheese 28.3% 1# Fresh
Slide 9: Market Position - Awards
MARKET POSITION AWARDS • Pınar was selected the Food Star in the Cheese and Milk categories for the year 2022 at Gıdanın Yıldızları Awards Ceremony, determined by the votes of approximately 40,000 Yıldız Technical University students from Generation Z (ages 18-26) across 36 different categories, org
Slide 10: Financial Results 2023 – H1
FINANCIAL RESULTS 2023 —H1 AY
Slide 11: Financial Results in 2023-H1
FINANCIAL RESULTS IN 2023-H1 Increasing in Increasing in Net Sales Gross Profit • As of June 30, 2023, the Net Sales increased by 58.8% compared to the same period in 2022, reaching +% 58.8 +% 8.2 3,888.5 Million TL. • As of June 30, 2023, the Gross Profit showed an Increasing in increase of 8.2% co
Slide 12: Net Sales Breakdown
FINANCIAL RESULTS IN 2023-H1 – NET SALES BREAKDOWN Based on Products Groups Based on Sales Channel *Yaşar Birleşik Pazarlama, *Fruit juice, the distribution company sauce, other of Yaşar Food Group. 12
Slide 13: Income Statement
FINANCIAL RESULTS IN 2023-H1 – INCOME STATEMENT 01.01.2023 01.01.2022 (Million TL) 30.06.2023 30.06.2022 Difference Change Net Sales 3,888.5 2,448.9 1,439.7 58.8% Cost of Goods Sold (3,474.3) (2,066.0) (1,408.3) 68.2% Gross Profit 414.2 382.8 31.4 8.2% R&D Expenses (25.3) (13.5) (11.7) 86.6% Sales,
Slide 14: Sales and Profitability by the Annually
FINANCIAL RESULTS IN 2023-H1 SALES AND PROFITABILITY BY THE ANNUALLY Net Sales Gross Profit million TL 15,6% 700 ,0 16,0% 600 ,0 12,2% 12,9% 13,0% 12,8% 14,0% 10,7% 500 ,0 746,4 12,0% 10,0% 400 ,0 8,0% 300 ,0 5.831 6,0% 3.889 200 ,0 382,8 414,2 2.682 203,1 262,1 348,1 4,0% 1.665 2.028 2.449 100 ,0 2
Slide 15: Sales and Profitability by the Quarterly
FINANCIAL RESULTS 2023-H1 SALES AND PROFITABILITY BY THE QUARTERLY Net Sales Gross Profit million TL 5.831 15,6% 14,4% 12,9% 13,0% 9,8% 2.682 2.028 1.932 1.412 2020 2021 2022 2Ç23 2Ç22 2020 2021 2022 2Ç23 2Ç22 EBITDA Net Profit 8,7% 6,1% 5,3% 4,4% 2,3% 2020 2021 2022 2Ç23 2Ç22 15 EBITDA is calculate
Slide 16: Financial Ratios, Investments and Credit Rating
FINANCIAL RESULTS IN 2023-H1 FINANCIAL RATIOS 2018/12 2019/12 2020/12 2021/12 2022/12 2023/06 Current Ratio 1.07 1.23 1.10 1.12 1.11 1.07 Leverage Ratio 0.44 0.42 0.45 0.42 0.43 0.51 Current Borrowings/Total Borrowings 0.81 0.44 0.74 0.86 0.98 0.98 Net Fin. Borrowings/EBITDA 1.14 1.62 2.85 2.91 3.40
Slide 17: Shareholding Structure & Stock Performance
SHAREHOLDING STRUCTURE & STOCK PERFORMANCE PERFORMANCE OF PINAR SÜT STOCK, BIST-ALL INDEX AND BIST-FOOD, BEVERAGE INDEX Sol Eksen Endeksler • Shares of Pınar Süt are traded on the Borsa Istanbul • Main Market with the symbol “PNSUT”. • Date of First Transaction: February 3,1986 • Corporate Governanc
Slide 18: Disclaimer and Contact Information
DISCLAIMER AND CONTACT INFORMATON 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 looki