Is Finansal Kiralama A.s. · BIST:ISFIN
Is Finansal Kiralama A.s — Q3 2017 Earnings Presentation
27 slides from Is Finansal Kiralama A.s's earnings presentation, Sep 30, 2017
Slide 1: Investor Presentation 30 Sept 2017
Investor Presentation 30 Sept 2017
Slide 2: Leasing Sector in Turkey
iS LEASING Leasing Sector in Turkey
Slide 3: Leasing
LEASING VAT is %1 for various types of machinery Sale&lease back has been added to product range in 2013 Expertise on SMEs, consultancy and know-how support in addition to funding FX borrowing option (Bank FX loans have some restrictions) Fast credit approvals (leased-asset ownership), fle
Slide 4: Sector New Leasing Volume
SECTOR NEW LEASING VOLUME Leasing penetration is still at low levels New Leasing Volume compared to EU average of 15% and (million USD) North America average of 18%. 7.637 6.990 12% 6.365 6.130 10% 5.360 4.891 8% 4.488 6% 4% 2% 0% 2006 2008 2010 2012 2014 2016 2011 2012 2013 2014 2015 2016 2017 Q3 P
Slide 5: Leasing Receivables
LEASING RECEIVABLES TL % FX % (million USD) 16.000 120,00% 14.000 9.530 10.895 12.699 12.632 12.509 13.919 100,00% 12.000 23% 26% 28% 28% 25% 26% 80,00% 10.000 8.000 60,00% 6.000 40,00% 4.000 20,00% 2.000 0 0,00% 2012 2013 2014 2015 2016 2017 Q3 5
Slide 6: Customer Base
Müşteri Adedi CUSTOMER BASE 70,000 12% 10.54% 10.02% 60,000 10% 9.03% 8.18% 9.04% 8.7% 8.19% 50,000 8.02% 8% 40,000 6% 30,000 4% 20,000 2% 10,000 - 0% 2010 2011 2012 2013 2014 2015 2016 2017 Q3 Sector Total İş Leasing Share 2016 vs. 2015 Fastest customer growth in Customers Δ Contracts Δ the sector
Slide 7: Company Overview
is LEASING Company Overview
Slide 8: Milestones & Shareholders
MILESTONES & SHAREHOLDERS 1995 2009 1985 İş Bank Joined BIST Leasing law group took corporate enacted over governance index 1988 2000 2011 Established by Listed in First corporate İş Bank, Soc İstanbul Stock bond issuer in Gen and IFC Exchange leasing sector (ISFIN) NEMTAŞ CAMİŞ 0,07% 0,83% İŞ BANK
Slide 9: Participations
PARTICIPATIONS Subsidiaries and Participations Ownership % İş Faktoring A.Ş. 78,23 Efes Varlık Yönetimi A.Ş 10,00 İş Yatırım Menkul Değerler A.Ş. (IS Invest) 4,86 İş Net 1,00 İş Girişim Sermayesi Yatırım Ort. A.Ş. 0,89 Yatırım Finansman A.Ş. 0,06 9
Slide 10: Organization Chart
is LEASING 4 ~*~ e oe ORGANIZATION CHART Internal Audit _ Investor and Risk Relations Management Marketing Risk Monitoring Institutions Financial Management Administration Legal Affairs 10
Slide 11: Branch Network
BRANCH NETWORK Avcılar Şişli Gebze Kozyatağı Trabzon Ostim Bursa Ankara Kayseri Diyarbakır İzmir Konya Gaziantep Antalya Adana 15 Branches 51 Sales staff 151 Total staff 11
Slide 12: Lease Portfolio
iS LEASING Lease Portfolio
Slide 13: Sales Channels
SALES CHANNELS 2016 2017 Q3 İŞ BANK DIRECT MARKETING VENDORS İŞ BANK VENDORS DIRECT MARKETING 16% 15% 57% İşbank: 1348 local and 22 foreign branches, largest 66% network among private 19% banks. 27% 13
Slide 14: Asset Distribution, %
ASSET DISTRIBUTION , % 2016 2017 Q3 35,8 35,1 23,5 22,5 20,5 19,1 13,8 12,3 4,6 4,0 4,8 4,2 REAL ESTATE MACHINERY CONSTRUCTION MACH. TEXTILE TRANSPORTATION OTHER 14
Slide 15: Sectoral Distribution, %
SECTORAL DISTRIBUTION , % 2016 2017 Q3 32,6 31,8 24,3 24,4 14,5 12,8 10,6 7,0 7,8 7,3 4,5 5,4 4,9 4,4 4,5 3,5 CONSTRUCT METAL IND. TEXTILE TRANSPORT RETAIL CHEMICALS FINANCE OTHER 15
Slide 16: Geographical Distribution
GEOGRAPHICAL DISTRIBUTION KONYA 3% ANTALYA 2% İZMİR 5% OTHER 22% BURSA 4% GAZİANTEP 5% ANKARA 12% İSTANBUL 47% 16
Slide 17: Maturity Distribution
MATURITY DISTRIBUTION 2016 2017 Q3 LEASES BORROWINGS LEASES BORROWINGS 26 24 20 19 19 19 19 18 12 8 9 9 USD EUR TRY USD EUR TL average, months *Portion funded by equity is included. 17
Slide 18: Currency Distribution
CURRENCY DISTRIBUTION TL TL 36% TL 36% 39% USD USD USD 32% 24% 23% EUR EUR EUR 39% 38% 33% 2015 2016 2017 Q3 18
Slide 19: Leverage
LEVERAGE Leverage(solo) TRY Receivables Equity TL Debt TL Portfolio 5,0 5,0 4,3 4,0 932 1.166 1.414 1.668 3,1 306 474 659 847 626 692 755 821 2013 2014 2015 2016 2017 Q3 2014 2015 2016 2017 Q3 Increased leverage by gaining market share 19
Slide 20: Funding Policy
FUNDING POLICY • First corporate bond issuer in leasing sector, outstanding nominal balance 1.4 billion TL, maturities range between 3 months to 18 months. • IFI and ECA Funding o IFC renewable energy and energy efficiency facility, World Bank EFIL- SME loans, CEB SME loans, BSTDB SME loan, ECO-Trad
Slide 21: Financial Performance
Financial Performance
Slide 22: Financial Highlights
FINANCIAL HIGHLIGHTS TL Million, consolidated 2015 2016 2016/Q3 2017/Q3 Δ Leasing Receivables, Net 3.287 4.001 3.501 4.483 28,05% Factoring Receivables, Net 1.951 2.984 2.425 3.500 44,33% Non Performing Receivables 183 231 191 250 30,89% Provisions 140 150 150 165 10,00% Total Assets 5.581 7.480 6.3
Slide 23: Solo Key Figures
is LEASING SOLO KEY FIGURES {Million TL) 2015 2016 201603 201703 2015 2016 2016 Q3 2017 03 Financial Highlights ls Sector Leasing Receivables 3.249 3.921 | 3.465 | 4.399 27%| 36.728 | 44.022 | 39.872 | 49.472 24% Total Assets 3.656 | 4.508 | 4,000 | 4,884 22%| 40.655 | 48.500 | 44.367 | 54,469 23% E
Slide 24: NPL
NPL 8,55% 250.000 7,99% 6,95% 6,70% 7,60% 6,26% 200.000 7,00% 6,03% 5,10% 150.000 151-240 4,80% 241-360 4,60% 4,65% 4,54% 4,31% 100.000 >360 Total 50.000 2011 2012 2013 2014 2015 2016 2017 Q3 0 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Sector İş Leasing(solo) 000 TL LOSS RESERVE Consol
Slide 25: Collaterals
COLLATERALS* Leased assets are legally possessed by the lessor so they are the collateral of the leasing loan. Depending on the lessee’s credit ratings and second hand value of the leased asset, additional collaterals might be demanded. Cash + LG + Mortgage Pledge + 5,48% Buyback 2,47% Prom. Note+ P
Slide 26: Rating
RATING Foreign Currency Long-Term IDR BB+ Short-Term IDR B Outlook Stable Local Currency Long-Term IDR BB+ Short-Term IDR B Outlook Stable National Long-Term Rating AA + (tur) Outlook Stable Support Rating 3 Corporate Governance Rating (Saha) : 9.17 26
Slide 27: Disclaimer
DISCLAIMER The information in this document has been obtained by İş Finansal Kiralama A.Ş. (“İş Leasing”) from sources believed to be reliable, however, İş Leasing can not guarantee the accuracy, completeness, or correctness of such information. This document has been issued for information purposes
İş Finansal Kiralama A.Ş. (İş Leasing) — Q3 2017 Earnings Presentation on 6ix