Mavi Giyim Sanayi Ve Ticaret A.s. · BIST:MAVI

Mavi Giyim Sanayi Ve Ticaret A.s — Q1 2017 Earnings Presentation

14 slides from Mavi Giyim Sanayi Ve Ticaret A.s's earnings presentation, Jul 6, 2017

  1. Slide 1: Q1 2017 Results Presentation

    Q1 2017 RESULTS PRESENTATION Istanbul, July 6th 2017

  2. Slide 2: Disclaimer

    Disclaimer This document does not constitute or form part of any offer to sell or issue or invitation to purchase or subscribe for, or any solicitation of any offer to purchase or subscribe for, any securities of the Company. The information, statements and opinions contained in this presentation do

  3. Slide 3: Key Highlights for Q1 2017

    Key Highlights for Q1 2017  Consolidated revenues increased by 38% to TRY 428 million in Q1 2017. 38% 39%  Gross profit grew by 39% to TRY 208 million, Gross Profit Revenue Growth corresponding to a margin of 48.6%. Growth  EBITDA grew by 55% and reached TRY 56 million with a margin of 13.0%. 55%

  4. Slide 4: Revenue Growth by Geography

    Revenue Growth by Geography Turkey Revenues (TRYm)  Turkey sales increased by 25% as a result of;  Strong 19.7% like-for-like performance 349.6  11.6% transaction 278.6  7.3% basket size  10 new retail store openings and 7 retail store expansions Q1 2016 Q1 2017 International Revenues (TRYm) 

  5. Slide 5: New Retail Store Openings and Expansion of Existing Retail Stores in Turkey

    New Retail Store Openings and Expansion of Existing Retail Stores in Turkey # of Retail Stores  10 new retail stores with an average selling 27 25 1 10 271 space of 586 sqm 261 236 237  Expansion of 7 existing retail stores corresponding to 2,111 sqm in total 2015A 2016A Q1 2016 Q1 2017  Average

  6. Slide 6: Key Income Statement Items

    Key Income Statement Items Revenue (TRYm) Gross Profit (TRYm) 48,2% 48,6% 428.2 208.2 310.3 149.6 Q1 2016 Q1 2017 Q1 2016 Q1 2017 EBITDA (TRYm) Net Income (TRYm) 11,6% 13,0% 3,3% 4,1% 55.6 17.5 35.9 10.2 Q1 2016 Q1 2017 Q1 2016 Q1 2017 % Growth % Margin Note: Growth statistics based on growth for Q1

  7. Slide 7: Capex and Net Debt Analysis

    Capex and Net Debt Analysis Capex (TRYm) Net Debt (TRYm) 4.3% 5.0% 1.0 x 1.0 x 21.5 198.6 178.0 13.2 Q1 2016 Q1 2017 2016A 1Q 2017 Capex as % of Sales Net Debt / LTM EBITDA  5x more increase in Turkey retail selling space  TRY199 million net debt at the end of Q1 2017 in Q1 2017 compared to Q1 201

  8. Slide 8: Q&A

    Q&A 7

  9. Slide 9: Appendix

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  10. Slide 10: Mavi: Highly Successful Lifestyle Brand

    Mavi : Highly Successful Lifestyle Brand…2016FY Business Overview - 2016 Key Metrics Brand & Product c.56%  Started operations in Istanbul in 1991, Mavi is today globally TRY1,368m TRY177m recognized as a highly successful casual lifestyle brand  With strong denim roots, Mavi has evolved into an 2

  11. Slide 11: With Strong International Presence – 2016FY

    …With Strong International Presence – 2016FY Canada Europe Russia  2016PF Revenue: TRY20m 331 Mono-Brand Stores  2016PF Revenue: TRY40m  2016PF Revenue: TRY100m  # Retail Stores: 8 in Turkey (2016)  # Retail Stores: 4  # Retail Stores: 9  # Wholesale Doors: 1,548  # Wholesale Doors: 1,646 

  12. Slide 12: Historical Financial Statements (1/3)

    Historical Financial Statements (1/3) Income Statement Income Statement TRYm Q1 2016 Q1 2017 Change (%) Rev enue 310.3 428.2 38.0% Cost of Sales (160.7) (219.9) 36.9% Gross Profit 149.6 208.2 39.2% Gross Margin 48.2% 48.6% Administrativ e Expenses (16.6) (23.6) 41.9% Selling and Marketing Expenses (

  13. Slide 13: Historical Financial Statements (2/3)

    Historical Financial Statements (2/3) Balance Sheet Balance Sheet TRYm 31 January 2017 1 30 April 2017 Change (%) Assets Current Assets Cash and Cash Equiv alents 158.1 156.3 (1.1%) Trade Receiv ables 109.4 185.4 69.5% Inv entories 287.8 289.5 0.6% Current Tax Assets 5.3 0.3 (95.3%) Other Current As

  14. Slide 14: Historical Financial Statements (3/3)

    Historical Financial Statements (3/3) Cash Flow Statement Cash Flow Statement TRYm Q1 2016 Q1 2017 Profit¹ 10.2 17.5 D&A Expense 10.4 14.1 Net Finance Expense / (Income) 10.4 17.5 Tax Expense 3.1 5.3 Other Non-Cash Items 9.3 14.3 Cash Flow from Operating Activ ities 43.4 68.6 Δ in Net W orking Capit

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