Slide 1: Pınar Süt Earnings Presentation 2018
Pınar Süt Earnings Presentation 2018
Slide 2: Pınar Süt at a Glance
2018 PINAR SUT AT A GLANCE we.” =~ producers 550 m liter e@ annual raw milk processing 357.000 m? total area -————_ 98.000 m? indoor area
Slide 3: Highlights
2018 HIGHLIGHTS 1,488 20.0% 112.9 million TL Growth million TL Net Sales in Net Sales EBITDA 47.4 67.6 1,062 million USD million TL Number of Export Sales Capex Employees in 2018 ˗ In 2018, comparing with the last year, production on the raw milk occured an increase as 6.9% in Turkey. ˗ Following th
Slide 4: Market Dynamics: Production and Cost
2018 MARKET DYNAMICS PRODUCTION AND COST Number of Milked Animals in Turkey Milk Production in Turkey +%6.9 22.1 TSI, million unit +%7.2 30.6 TSI, million tons 20.7 28.5 18.6 18.7 18.2 18.5 24.6 25.5 25.2 23.9 2013 2014 2015 2016 2017 2018 2013 2014 2015 2016 2017 2018 Inflation and Raw Milk Prices
Slide 5: Market Dynamics: Consumption and Market
2018 MARKET DYNAMICS CONSUMPTION AND MARKET Share of Packaged Products Packaged Products Penetration IPSOS IPSOS 51.5% 52.8% 95.0 95.8 96.6 96.4 40.7% 40.1% Milk Cheese Milk (UHT) Cheese 2017 2018 Sales Value of Dairy Market Sales Value Breakdown of Daily Market Milk, Cheese, Yoghurt, Butter, Nielse
Slide 6: Market Position
2018 MARKET POSITION Pınar Süt and the Competitors Market Shares Based on Products 2018 , Nielsen, BİM Excl. Nielsen, 2018, BİM Excl. Product Market Share Position Pınar Closest Competitor Total UHT Milk 29.4% #1 UHT Light Milk 59.3% #1 Enriched Milk (Kids) 80.9% #1 Protein Milk 65.7% #1 Total Chees
Slide 7: Net Sales Breakdown
2018 FINANCIALS NET SALES BREAKDOWN *Other 12% Based on Product Groups *Fruit juice, Dairy sauce, other Products 88% Based on Sales Channel Export 47.4 million Dollar 15% S. Arabia 24% Direct Kuwait 11% Iraq 11% 4% UAE 11% *Yaşar Birleşik Pazarlama is the Qatar 10% Cyprus 5% *YBP distribution compan
Slide 8: Income Statement
2018 FINANCIALS INCOME STATEMENT 1/1/2018 1/1/2017 (Million TL) 12/31/2018 12/31/2017 Difference Change Net Sales 1,487.8 1,240.1 247.8 20.0% Cost of Goods Sold (1,256.3) (1,043.3) (213.0) 20.4% Gross Profit 231.6 196.8 34.8 17.7% R&D Expenses (13.5) (12.0) (1.5) 12.4% Sales, Distribution and Market
Slide 9: Sales and Profitability – Annually
2018 FINANCIALS SALES AND PROFITABILITY – ANNUALLY Net Sales Gross Profit million TL 275.0 16.8% 17.9% 20.0% 16.1% 15.9% 15.6% 18.0% 225.0 16.0% 231.6 14.0% 175.0 12.0% 196.8 1,488 125.0 10.0% 1,068 1,240 191.1 1,011 8.0% 940 75.0 157.7 162.4 6.0% 4.0% 25.0 2.0% -25.0 0.0% 2014 2015 2016 2017 2018 2
Slide 10: Sales and Profitability – Quarterly
2018 FINANCIALS SALES AND PROFITABILITY – QUARTERLY Net Sales Gross Profit 1,488 17.9% 1,240 15.9% 15.6% 16.0% 15.5% 1,068 13.1% 343 374 400 2016 2017 2018 Q4-17 Q4-18 Q3-18 2016 2017 2018 Q4-17 Q4-18 Q3-18 EBITDA Net Profit 8.7% 8.7% 7.6% 10.6% 6.9% 7.1% 4.9% 5.6% 3.8% 3.3% 3.4% 2016 2017 2018 Q4-1
Slide 11: Financial Ratios and Capital Expenditures
2018 FINANCIALS FINANCIAL RATIOS 2014/12 2015/12 2016/12 2017/12 2018/12 Current Ratio 1.42 1.16 1.23 1.21 1.07 Leverage Ratio 0.32 0.34 0.36 0.43 0.44 Current Borrowings/Total Borrowings(Fin.) 0.55 0.93 0.56 0.64 0.81 Net Fin. Borrowings/EBITDA 0.15 0.34 0.76 1.69 1.16 Net Fin. Borrowings/Equity 0.
Slide 12: Ownership Structure
2018 OWNERSHIP STRUCTURE SHAREHOLDING STRUCTURE OF Shareholder Share Rate (%) Share Amount(TL) PINAR SÜT (%) YAŞAR HOLDİNG A.Ş. 61.41 27,603,901.57 OTHER 38.59 17,347,149.68 Total 100.00 44,951,051.25 The company’s shares are traded at Borsa İstanbul Star Market under the ticker symbol PNSUT. OTHER
Slide 13: Disclaimer and Contact Information
2018 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 anyBİLGİLERİ contract or commitment whatsoever. This presentation contains