Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi · BIST:DOAS
Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi — Doğuş Otomotiv Servis ve Ticaret A.Ş. — Q4 2021 Earnings Presentation
25 slides from Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi's earnings presentation, Mar 1, 2022
Slide 1: 4Q 2021 Analyst Briefing Presentation
4Q 2021 ANALYST BRIEFING PRESENTATION Kerem Talih 1 MARCH 2022 1 TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third p
Slide 2: DOAS 2022 New Launches Plan
DOAS 2022 NEW LAUNCHES PLAN Q1/2022 Q2/2022 Q3/2022 Q4/2022 Passat Alltrack (NM) Golf R (NM) T-Roc (Facelift) T-Cross (NM) E-Tron A8 L PI Taigo (NM) New Amarok E-Tron GT Panamera 4 PE Taycan GTS RS3 Sportback RS3 Sedan E-Tron Sportback Cayman GT4 RS Taycan GTS ST Cayenne PE Macan T Scania Super New
Slide 3: Jan-Dec 2021 Doğuş Otomotiv Main Segment Sales
JAN - DEC 2021 DOGUS OTOMOTIV MAIN SEGMENT SALES Retail 1.000.000 800.000 600.000 400.000 RETAIL MARKET 200.000 0 Retail PV Premium LCV HCV December 20 789.235 610.109 60.802 162.679 16.447 December 21 763.258 561.853 57.367 175.497 25.908 ∆ -3% -8% -6% 8% 58% 160.000 120.000 DOAS 80.000 PERFORMANCE
Slide 4: Competition (Retail)
COMPETITION (Retail) VW PC ranked 3rd in the RETAIL MARKET 20 Year End/ cumulative passenger vehicle 2019 2020 2021 21 Year End ∆ market with 9.53% market share. PASSENGER CAR % RENAULT GRUP 18,2 17,6 20,7 3,1 DOGUS OTOMOTİV TOFAS 23,3 15,4 17,6 15,9 18,9 13,6 1,3 -2,3 ŠKODA has a market share of PS
Slide 5: Jan-Dec 2021 Passenger Vehicle Market (%)
JAN - DEC 2021 PASSENGER VEHICLE MARKET (%) Retail 40,0 33,8 35,0 - PC market decreased by -8% yoy. 30,0 29,1 - DOAS’ market share in the passenger 25,0 22,5 20,7 18,9 vehicle market was realised 18.9%. 20,0 17,6 15,9 13,6 14,9 15,0 13,0 - The strongest competitor of DOAS in this 10,0 segment is Ren
Slide 6: Jan-Dec 2021 Light Commercial Vehicle Market (%)
JAN - DEC 2021 LIGHT COMMERCIAL VEHICLE MARKET (%) Retail 45,0 39,9 40,0 - Light Commerical Vehicle market 35,0 increased by 8% yoy. 30,3 27,6 27,5 30,0 - DOAS shares a 8.4% market share at 4th 25,0 21,7 place. 20,0 15,6 15,0 12,2 9,5 - Leaders in the LCV market are Ford Otosan 10,0 7,4 8,4 with 30.
Slide 7: Jan-Dec 2021 Doğuş Otomotiv Brand Sales Performance
JAN - DEC 2021 DOĞUŞ OTOMOTIV BRAND SALES PERFORMANCE WHOLESALE UNITS 12M20 12M21 Δ VW PC 54.886 51.547 -6% VW LCV 12.006 14.597 22% AUDI 19.537 13.219 -32% SKODA 25.965 23.931 -8% SEAT 11.866 12.367 4% CUPRA 0 288 100% SCANIA 1.157 2.192 89% PORSCHE 648 602 -7% BENTLEY 11 11 0% LAMBORGHINI 19 16 -1
Slide 8: Jan 2022 Doğuş Otomotiv Main Segment Sales
JAN 2022 DOGUS OTOMOTIV MAIN SEGMENT SALES Retail 50.000 40.000 30.000 20.000 10.000 RETAIL MARKET 0 Retail PV Premium LCV HCV January 21 44.878 35.358 2.937 8.370 1.150 January 22 39.146 29.020 2.100 9.111 1.015 ∆ -13% -18% -28% 9% -12% 10.000 8.000 6.000 DOAS 4.000 PERFORMANCE 2.000 0 Sales PV Pre
Slide 9: Jan 2022 Doğuş Otomotiv Brand Sales Performance
JAN 2022 DOĞUŞ OTOMOTIV BRAND SALES PERFORMANCE WHOLESALE UNITS 01M21 01M22 Δ VW PC 5.213 1.004 -81% VW LCV 1.006 373 -63% AUDI 520 713 37% SKODA 1.980 989 -50% SEAT 683 264 -61% CUPRA 0 37 100% SCANIA 82 22 -73% PORSCHE 41 23 -44% BENTLEY 0 1 100% LAMBORGHINI 1 2 100% DOAS TOTAL 9.526 3.428 -64% So
Slide 10: Financial Performance
FINANCIAL PERFORMANCE TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third parties.
Slide 11: Financial Performance (mn TL)
FINANCIAL PERFORMANCE (mn TL) Net Sales EBITDA Net Profit 124% 2.336 29% 24.306 108% 3.275 18.900 1.042 1.575 9.844 612 77 2019 2020 2021 2019 2020 2021 2019 2020 2021 CapEx Total Assets Working Capital* %37 43% 6.390 330 9.755 133% 7.117 4.455 142 4.665 2.330 45 2019 2020 2021 2019 2020 2021 2019 2
Slide 12: Margins %
MARGINS % Gross Profit Margin OpEx/Sales EBITDA Margin 14,5% 8,0% 13,5% 5,5% 8,3% 13,1% 6,2% 12,9% 1,8% 2019 2020 2021 2019 2020 2021 2019 2020 2021 EBIT Margin Net Profit Margin Wholesale Market Sales* 12,7% 100.130 94.839 9,6% 7,6% 61.404 5,5% 4,9% 0,8% 2019 2020 2021 2019 2020 2021 2019 2020 2021
Slide 13: Income Statement Q-on-Q and Y-on-Y Comparisons
INCOME STATEMENT Q-on-Q and Y-on-Y Comparisons TL’000 4Q 2021 3Q 2021 Δ4Q/3Q 4Q 2021 4Q 2020 Δ 2021/ 2020 Wholesale Sales Volume (excl. Skoda, incl. 17.575 16.468 7% 17.575 30.951 -43% Scania) Revenue 5.860.257 4.846.202 21% 5.860.257 6.830.410 -14% Direct cost of revenue -4.822.259 -4.070.161 18% -
Slide 14: Income Statement
INCOME STATEMENT TL’000 31.12.2021 31.12.2020 Δ 2021/2020 Revenue 24.306.203 18.900.148 29% Direct cost of revenue -20.784.706 -16.425.050 27% Gross profit 3.521.497 2.475.098 42% Total Operational Expenses -428.754 -1.030.631 -58% EBIT 3.092.743 1.444.467 114% Income from Investing Activities, net
Slide 15: Income from Associates
INCOME FROM ASSOCIATES TL’000 31.12.2021 31.12.2020 Δ 2021/2020 Associates vdf Group 147.330 51.146 188% vdf* 13.400 24.279 -45% vdf Servis 133.930 26.867 398% Doğuş Sigorta 5.124 1.731 196% Yüce Auto (Škoda) 77.687 68.686 13% TÜVTÜRK N&S (Consolidated) 205.990 132.786 55% Doğuş Teknoloji 4.400 -6.5
Slide 16: Balance Sheet
BALANCE SHEET Inventories: Number of vehicles decreased TL’000 31.12.2021 31.12.2020 Δ from 13.129 units on 31.12.2020 to 4.971 units ASSETS 9.754.599 7.117.134 37% on 31.12.2021. Cash and cash equivalents 3.409.576 655.599 420% Financial Liabilities: Trade receivables 1.010.816 1.047.149 -3% Use of
Slide 17: Financing Costs
FINANCING COSTS Million TL 31.12.2021 31.12.2020 Δ 2021/2020 Financing Cost, net 596.505 418.837 42% Finance Expenses 651.276 468.388 39% Interest Expense on Borrowings 519.269 351.593 48% Commission Expenses on Letters of Guarantee 65.292 60.410 8% Foreign Exchange Losses on Borrowings, net 0 13.89
Slide 18: Financial Performance
FINANCIAL PERFORMANCE Million TL 31.12.2021 31.12.2020 Δ Working capital 6.390 4.455 43% Net Cash Position* 485 -1.722 128% Receivable Turnover (day) 15 20 -25% Inventory Turnover (day) 35 61 -43% Payable Turnover (day) 22 41 -48% * Net Cash Position updated in line with IFRS 16, bank loans and empl
Slide 19: Material Event Disclosures in 4Q 2021
MATERIAL EVENT DISCLOSURES IN IN 4Q 2021 SUBSEQUENT EVENTS ➢ 12.17.2021 – Corporate Governance Compliance Rating Report Following studies conducted by Kobirate Uluslararası Kredi Derecelendirme ve Kurumsal Yönetim Hizmetleri A.Ş. To assess the compliance of the company practices with "Capital Market
Slide 20: Subsequent Material Event Disclosures
SUBSEQUENT MATERIAL EVENT DISCLOSURES ➢ 01.14.2022 -Regulations of Articles of Association Our company’s Articles of Association text, sub-article three, the purpose of subject revisions were completed. The revised Articles of Association will submit to shareholders' approval at the first General As
Slide 21: 21 and
21 and TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams third parties.
Slide 22: Sustainability Initiatives
Sustainability program in the VW AG supply chain Human Rights Education & Human Rights Officer Authorized Dealer Corporate SOCIAL ECONOMIC Governance & Sustainability Program DOĞUŞ CMB Communiqué Code of Ethics OTOMOTİV Compliance and Information Studies and procedure study Sustainability Integratio
Slide 23: 2022 Expectations
2022 EXPECTATIONS Sustainability and Mobility Digitalization Climate Change Priorities Operational Efficiency and Service Areas Optimum Profitability Cautious Expenditure Management OEM Strategy: Maintain represented brands’ competitive position. Total Automotive Market Investment Expenditure (PC+LC
Slide 24: Thank You – Q & A
THANK YOU – Q & A TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third parties.
Slide 25: TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak
TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third parties.
Doğuş Otomotiv Servis ve Ticaret A.Ş. — Q4 2021 Earnings Presentation on 6ix