Bim Birlesik Magazalar A.s. · BIST:BIMAS

Bim Birlesik Magazalar A.s — Q2 2021 Earnings Presentation

20 slides from Bim Birlesik Magazalar A.s's earnings presentation, 2021

  1. Slide 1: Q2|21 Business Update

    Q2|21 Business Update © BIM| All rights reserved

  2. Slide 2: Notice

    NOTICE The information contained in this document has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. Neither t

  3. Slide 3: Highlights, Operational Performance, Financial Performance, Q&A

    ✓ Highlights ✓ Operational Performance ✓ Financial Performance ✓ Q&A 3

  4. Slide 4: Headlines of Key Figures for Q2 2021

    HEADLINES of KEY FIGURES for Q2 2021 17,2 TL billion Sales (+22% YoY) 607 TL million CAPEX at 3,5% of sales 10.116 total stores 393 new stores in 2Q 21 1.516 TL million EBITDA (8,8% margin and 13% YoY) 725 TL million Net Income (4,2% margin,4% YoY) Top line growth inline with our expectations EBITDA

  5. Slide 5: Highlights, Operational Performance, Financial Performance, Q&A

    ✓ Highlights ✓ Operational Performance ✓ Financial Performance ✓ Q&A 5

  6. Slide 6: Like for Like Sales Increase (BIM Turkey)

    LIKE FOR LIKE SALES INCREASE (BIM TURKEY*) QUARTERLY SEMI-ANNUALLY 2020 Q2 2021 Q2 CHANGE 6M 2020 6M 2021 CHANGE Like-For-Like Sales Like-For-Like Sales 21.273 21.173 -0,5% 18.968 20.187 6,4% (per store/per day (TL)) (per store/per day (TL)) Like-For-Like Basket Like-For-Like Basket 37,52 38,92 3,7%

  7. Slide 7: Expansion

    EXPANSION Turkey (Inc. File) Foreign * Total 2Q21 9.251 865 * 10.116 1Q21 8.871 852 * 9.723 • Store growth 13% YoY • New opening in 2Q 21 = 393 consolidated stores, net 4Q20 8.530 835 * 9.365 • Good pace of new store openings continues 3Q20 8.321 826 * 9.147 2Q20 8.095 826 * 8.921 7

  8. Slide 8: Capex

    CAPEX 3,3% 3,5% 2,9% 3,1% 2,4% 1,9% 2,0% 607 1.088 448 480 273 331 546 2Q20 3Q20 4Q20 1Q21 2Q21 6M 2020 6M 2021 Capex Capex to sales Capex Capex to sales • 4 new warehouses under construction, 3 for BIM and one for FiLE, targeted opening by year-end • Accelerated store openings trend continues 8

  9. Slide 9: Highlights, Operational Performance, Financial Performance, Q&A

    ✓ Highlights ✓ Operational Performance ✓ Financial Performance ✓ Q&A 9

  10. Slide 10: Net Sales & Gross Profit

    NET SALES & GROSS PROFIT 22% y-y 18,7% 18,8% 18,4% 18,5% 18,4% 15.309 15.502 17.163 3.223 14.028 13.560 2.574 2.868 2.854 2.511 2Q20 3Q20 4Q20 1Q21 2Q21 2Q20 3Q20 4Q20 1Q21 2Q21 Revenues (TRY m) Gross Profit (TRY m) Gross Margin 23% y-y 18,6% 17,8% 32.665 26.626 6.077 4.742 6M 2020 6M 2021 6M 2020 6

  11. Slide 11: EBITDA / EBIT

    EBITDA / EBIT 9,5% 10,0% 9,0% 7,6% 8,5% 8,8% 7,1% 6,3% 6,2% 5,9% 1.340 1.525 1.516 1.171 1.068 1.217 1.324 1.002 917 858 2Q20 3Q20 4Q20 1Q21 2Q21 2Q20 3Q20 4Q20 1Q21 2Q21 EBITDA (TRY m) EBITDA Margin EBIT (TRY m) EBIT Margin 8,7% 8,7% 6,1% 6,3% 2.840 1.984 2.325 1.668 6M 2020 6M 2021 6M 2020 6M 2021

  12. Slide 12: Net Income

    NET INCOME 5,4% 4,3% 5,0% 4,2% 4,8% 4,4% 4,2% 825 1.410 697 654 685 725 1.128 2Q20 3Q20 4Q20 1Q21 2Q21 6M 2020 6M 2021 Net Income (TRY m) Net Margin Net Income (TRY m) Net Margin • Net income increased by 4% YoY in 2Q21. • The increased 25% corporate tax rate has been retrospectively reflected in Q2

  13. Slide 13: Foreign Operations & FiLE

    FOREIGN OPERATIONS & FILE MOROCCO EGYPT FILE • 13 new stores opened in 2Q 2021. • In Egypt, we have maintained our 300 • 10 new stores opened in 2Q. stores in H1. • Sale of 35% minority stake of BIM • Online shopping platform expanded Morocco successfully completed. • No new store openings planned i

  14. Slide 14: Highlights, Operational Performance, Financial Performance, Q&A

    ✓ Highlights ✓ Operational Performance ✓ Financial Performance ✓ Q&A 14

  15. Slide 15: Q&A

    Q&A 15

  16. Slide 16: Appendixes: IFRS Statements

    Appendixes IFRS Statements 16

  17. Slide 17: IFRS Income Statement

    IFRS INCOME STATEMENT 6 months ended 30 June 3 months ended 30 June TL million Change % Change % 6M 2020 6M 2021 Q2 2020 Q2 2021 6M 20 / 6M 21 Q2 20 / Q2 21 Net Sales 26.626 32.665 23% 14.028 17.163 22% COGS (21.884) (26.588) 21% (11.454) (13.940) 22% Gross Profit 4.742 6.077 28% 2.574 3.223 25% Tot

  18. Slide 18: IFRS Income Statement (w/o IFRS 16)

    IFRS INCOME STATEMENT (w/o IFRS 16) 6 months ended 30 June 3 months ended 30 June TL million 6M 2020 6M 2021 Change % Q2 2020 Q2 2021 Change % Without IFRS16 Without IFRS16 6M 20 / 6M 21 Without IFRS16 Without IFRS16 Q2 20 / Q2 21 Net Sales 26.626 32.665 23% 14.029 17.163 22% COGS (21.884) (26.588)

  19. Slide 19: IFRS Balance Sheet

    IFRS BALANCE SHEET As of 30 June TL million 2020 2021 Intangible assets 43 45 Tangible assets 4.621 6.978 Right of Use Assets (IFRS 16) 4.584 6.301 Financial Investments (Long term) 429 523 Other non-current assets 57 152 Total fixed assets 9.735 13.998 Trades receivable 1.961 2.672 Financial Invest

  20. Slide 20: IFRS Cash Flow

    IFRS CASH FLOW 6 months ended 30 June 3 months ended 30 June TL million 6M 2020 6M 2021 Q2 2020 Q2 2021 Net Income 1.128 1.416 697 732 D&A 657 856 337 449 Non cash tax expense 322 462 198 313 Other non-cash items 255 175 133 167 Funds from operations 2.361 2.909 1.366 1.660 Change in net working cap

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