Dogan Sirketler Grubu Holding A.s. · BIST:DOHOL
Dogan Sirketler Grubu Holding A.s — Q1 2024 Earnings Presentation
24 slides from Dogan Sirketler Grubu Holding A.s's earnings presentation, Jun 14, 2024
Slide 1: Doğan Holding 1Q24 Earnings Presentation
Doğan Holding 1Q24 Earnings Presentation June 14, 2024
Slide 2: 1Q24 Financial Highlights
1Q24 Financial Highlights Significant Growth in Operating Profit • Strong top-line growth in Automotive segment • Improved operating performance in Industry & Trade segment • Continued strong contribution from our Digital Insurance business High Net Cash Position and Solid Balance Sheet • USD696 mil
Slide 3: Strategic Actions
Strategic Actions • We have taken significant steps towards reaching a valuation of 1 billion USD for our four companies. • Galata Wind has increased its capacity to 291MW with ongoing investments and aims to reach 550MW by 2025 and 1,000MW by 2028. • Karel Elektronik continues its capacity expansio
Slide 4: 1Q24 Financial Highlights (including IAS 29)
1Q24 Financial Highlights (including IAS 29) Revenue EBITDA* Net Profit (TL mn) %47 17,631 %105 1,217 %28 950 12,030 593 -1,148 1Q23 1Q24 1Q23 1Q24 1Q23 1Q24 • Automotive segment: +181% • Industry & Trade segment: EBITDA of • Higher EBITDA YoY (+) • Finance & Investments segment: +%7 TL-312mn became
Slide 5: Share Buyback / Dividend Inflow and Payments
Share Buyback /Dividend Inflow and Payments Share Buyback Program Dividend Inflow Dividend Payments • Program size: TL300 million • Consistent dividend inflow from group • Dividend Policy: targets to distribute >5% • Program was re-activated in December companies. of net income. 2023: • 2024 dividen
Slide 6: Electricity Generation Segment
Electricity Generation Segment Electricity Generation Segment Summary Financials 1Q24 Overview TL million 1Q23 1Q24 Δ Revenue 582 485 -17% • Electricity production grew by 7% YoY in 1Q24 Gross Profit 371 304 -18% • The large jump in hydroelectric production contributed to this EBITDA 459 368 -20% gr
Slide 7: Electricity Generation Segment – Galata Wind
Electricity Generation Segment – Galata Wind Galata Wind Summary Financials 1Q24 Overview TL million 1Q23 1Q24 Δ • Despite higher production volume, lower prices and the lack of Revenue 582 485 -17% Gross Profit 377 295 -22% carbon emission sales led to 17% YoY decline in revenues. EBITDA 468 368 -2
Slide 8: Electricity Generation Segment – Galata Wind
Electricity Generation Segment – Galata Wind Domestic Investments Foreign Investments Post -2025 Domestic Investments Current & Additional Capacities & New Investments Pre-approved licenses for Current Additional New Capacity Two agreements signed with developer for 300 Storage Units Production Capa
Slide 9: Industry & Trade Segment
Industry & Trade Segment Industry & Trade Segment Summary Financials 1Q24 Overview TL million 1Q23 1Q24 Δ • Karel’s strong revenues was the main driver of top-line growth in Revenue 4,717 4,907 4% the Industry & Trade segment. Gross Profit -67 585 n.m. EBITDA -312 587 n.m. • Similarly strong contrib
Slide 10: Industry & Trade Segment – Karel Elektronik
Industry & Trade Segment – Karel Elektronik Karel Elektronik Summary Financials 1Q24 Overview TL million 1Q23 1Q24 Δ Revenue 2,497 3,118 25% • Apart from Electronic Card Production, all segments displayed Gross Profit 4 377 n.m real top-line revenue growth. EBITDA -74 252 n.m • Strong top-line growt
Slide 11: Industry & Trade Segment – Sesa Ambalaj
Industry & Trade Segment – Sesa Ambalaj Sesa Ambalaj Summary Financials 1Q24 Overview TL million 1Q23 1Q24 Δ Revenue 848 841 -1% • Despite weak markets, high competition, revenue remained flat Gross Profit 170 178 5% compared to the year ago period. EBITDA 115 116 1% • EBITDA margin improved by 0.3p
Slide 12: Industry & Trade Segment – Ditaş
Industry & Trade Segment – Ditaş Ditaş Summary Financials 1Q24 Overview TL million 1Q23 1Q24 Δ • 12% YoY decline in revenues Revenue 426 374 -12% Gross Profit 14 14 0% • FX movements, weaker demand in export markets and cost EBITDA -19 -5 n.m. pressures led to weak operating profitability. Net Incom
Slide 13: Automotive Segment – Dogan Trend Otomotiv
Automotive Segment – Dogan Trend Otomotiv Automotive Segment Summary Financials 1Q24 Overview TL million 1Q23 1Q24 Δ • Main drivers of top-line growth in 1Q24 are continued strong market Revenue 2,884 8,092 181% demand and rising market share of our brands. Gross Profit 399 604 51% • DTO reached a m
Slide 14: Finance & Investment Segment
Finance & Investment Segment Finance & Investment Segment Summary Financials 1Q24 Overview TL million 1Q23 1Q24 Δ • Despite a revenue decline at Hepiyi Sigorta, there was a big Revenue 3,118 3,339 7% jump in monthly gross premiums in March. PBT -580 2,113 n.m. • D-Investment Bank total assets reache
Slide 15: Hepiyi Sigorta – 1Q24
Hepiyi Sigorta – 1Q24 Monthly Premium Generation (mn TL) Assets Under Management (mn USD) 1205 238 782 736 580 598 622 650 444 519 537 447 423 204 2023 1Q24 Premium Breakdown by Product Motor Own Liability Market Share 6% 4% 1.9% 19% 1.7% 71% 2023 1Q24 Motor Third Party Motor Own Damage Source: TSB
Slide 16: Internet & Entertainment Segment
Internet & Entertainment Segment Internet & Entertainment Segment Summary Financials 1Q24 Overview TL million 1Q23 1Q24 Δ Revenue 561 637 14% • Segment revenues grew by 14% YoY to TL637mn in 1Q24. Gross Profit 248 284 15% • The largest contributor was Kanal D Romania, which has Euro EBITDA 94 102 8%
Slide 17: Real Estate Investments Segment
Real Estate Investments Segment Real Estate Investments Segment Summary Financials 1Q24 Overview TL million 1Q23 1Q24 Δ • While there was ongoing high occupancy rates at Milta Marina Revenue 168 170 1% Gross Profit 52 38 -26% and Trump Tower, revenues grew parallel to the yearly rate of EBITDA 49 35
Slide 18: Appendix
Apendix
Slide 19: Appendix – Financials
Apendix – Financials TL million 1Q23 1Q24 Δ TL million 2023 1Q24 Δ Sales 12,030 17,631 47% Current Assets 66,692 64,151 -4% Cost of Goods Sold -10,658 -15,099 42% Non-Current Assets 40,798 40,782 0% Gross Profit 1,371 2,532 85% Total Assets 107,490 104,933 -2% Gross Margin 11.4% 14.4% 3 pp Current L
Slide 20: Appendix – Revenue Breakdown
Apendix – Revenue Breakdown TL million 1Q23 1Q24 Δ Electricity Generation 582 485 -17% Electricity Sales 582 485 -17% Industry & Trade 4,717 4,907 4% Industry 2890 3472 20% Foreign trade 860 446 -48% Packaging 951 940 -1% Other 17 49 187% Automotive Distribution 2,884 8,092 181% Finance & Investment
Slide 21: Appendix – Net Cash / (Debt) Breakdown
Apendix – Net Cash / (Debt) Breakdown TL million 2023 1Q24 Δ Electricity Generation -713 -409 -43% Industry & Trade -5,312 -4,549 -14% KAREL -3,450 -2,461 -29% DITAS -535 -571 7% Doğan Dış Ticaret -444 -843 90% Sesa Yatırım -879 -676 -23% Other -4 2 -161% Automotive -5,996 -7,426 24% Finance & Inves
Slide 22: Appendix – Segments & Major Group Companies – 2023 Financials
Apendix – Segments & Major Group Companies – 2023 Financials TL mn Electricity Automotive Trade & Financing & Internet & Real Estate Industry & Trade Total Generation Marketing Investing Entertainment Investments Revenue 485 4,907 8,092 3,339 637 170 17,631 Revenue Shr. 3% 28% 46% 19% 4% 1% 100% EBI
Slide 23: Investor Relations Contact
Investor Relations Contact Bora Tezgüler Investor Relations Director borat@doganholding.com.tr Kerimcan Uzun Investor Relations Manager kerimu@doganholding.com.tr www.doganholding.com.tr ir@doganholding.com.tr +90 216 556 90 00 22 Doğan Holding 1Q24 Earnings Presentation
Slide 24: Disclaimer
Disclaimer Doğan Şirketler Grubu Holding A.Ş. (“Doğan Holding”) has prepared this book (the “Book”) for the sole purpose of providing information relating to DoğanHolding (the “Information”). The contents of this Book is based on public information and on data provided by Doğan Holding management. N
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