Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi · BIST:DOAS
Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi — Doğuş Otomotiv Servis ve Ticaret A.Ş. — 9M 2016 Earnings Presentation
18 slides from Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi's earnings presentation, Nov 10, 2016
Slide 1: 3Q 2016 Analyst Briefing Presentation
3Q 2016 ANALYST BRIEFING PRESENTATION Kerem Talih 10 November 2016
Slide 2: 9M 2016 DOAS Developments
9M 2016 DOAS DEVELOPMENTS Retail Market sales decreased by 5% and DOAS sales decreased by 6% in 9M2016 compared to 9M2015. Due to VW «Dieselgate» , Doğuş Otomotiv voluntarily had suspended the sales of the affected Jetta and Caddy vehicles in October 2015. Revenues remain at the same level in
Slide 3: 9M 2016 Doğuş Otomotiv Main Segment Sales Performance
9M 2016 DOGUS OTOMOTIV MAIN SEGMENT SALES PERFORMANCE Retail RETAIL MARKET DOAŞ PERFORMANCE
Slide 4: Competition (Retail)
COMPETITON (Retail) 2015 YE/ YTD SEP 15/ RETAIL MARKET 2014 2015 YTD YTD YTD SEP YTD SEP 16 VW ranked 2nd in cumulative YEAR END YEAR END SEP 15 SEP 16 16 ∆ ∆ passenger vehicle market with 13,8% market share. PASSENGER VEHICLE % DOGUS OTOMOTİV 22,2 23,1 24,2 23,3 0,2 -0,9 Skoda increased its market
Slide 5: 9M 2016 Passenger Vehicle Market (%)
9M 2016 PASSENGER VEHICLE MARKET (%) Retail - Passenger vehicle market decreased by 2% in 9M2016 compared to 9M2015. - DOAS’ market share in the passenger vehicle market decreased from 24,2% to 23,3% compared to last year.* - Renault has 19,8% market share in this segment following DOAS. - VW passen
Slide 6: 9M 2016 Light Commercial Vehicle Market (%)
9M 2016 LIGHT COMMERCIAL VEHICLE MARKET (%) Retail - Light commercial vehicle market decreased by 9% in 9M2016 compared to 9M2015. - DOAS performed better than the market and its market share increased from 14,4% to 15,3% in 9M2016 compared to 9M2015.* - The main competitors of DOAS in this segment
Slide 7: 9M 2016 Doğuş Otomotiv Brand Sales Performance
9M 2016 DOGUS OTOMOTIV BRAND SALES PERFORMANCE Wholesale WHOLESALE 9M2015 9M2016 Δ UNITS VW PV 83.954 74.586 -11% VW LCV 25.320 22.888 -10% AUDI 13.849 13.993 1% SKODA 16.395 19.732 20% SEAT 13.314 14.340 8% SCANIA 2.267 1.451 -36% KRONE* 151 2 -99% PORSCHE 584 550 -6% MEILLER 355 8 -98% BENTLEY 11
Slide 8: Financial Performance
FINANCIAL PERFORMANCE a,
Slide 9: Financial Performance (mio TL)
FINANCIAL PERFORMANCE (mio TL) Net Sales EBITDA Net Profit 0% CapEx Total Assets Working Capital* *Cash and cash equivalents, trade receivables and invetory are included.
Slide 10: Margins %
MARGINS % Gross Profit Margin OpEx/Sales EBITDA Margin %8 Cons. 7,1% 6,7% Max 6,0% 10 - 11 % 5,5% %5 Target Solo Max EBIT Margin Net Profit Margin Wholesale Market Share
Slide 11: Income Statement
INCOME STATEMENT Δ 9M16/ Gross profit margin decreased by 0,2 pt to 10,2% TL’000 9M2016 9M2015 compared to last year same period. 9M15 Impacts on revenue and direct cost of revenue: Revenue 7.961.137 7.958.385 0% • Increased EUR/TL volatility in 9M16. Direct cost of revenue -7.151.472 -7.133.976 0%
Slide 12: Equity Accounted Investees
EQUITY ACCOUNTED INVESTEES TL ’ 0 0 0 9 M20 16 9 M20 15 Δ 9 M16 / 9 M15 As s o cia te s VDF* 34.615 11.8 34 193% Doğuş Sigorta 911 1.68 6 -46% Yüce Auto 7.901 6.328 25% VDF Servis 9.393 9.048 4% TÜVTÜRK N&S 22.332 26.100 -14% (Consolidated) Krone-Doğuş** 0 0 0% Meiller-Doğuş*** -767 -731 5% Doğuş Te
Slide 13: Balance Sheet
BALANCE SHEET Inventories: Number of vehicles increased TL’000 30.09.2016 31.12.2015 Δ from 14.426 units to 35.105 units as of ASSETS 4.958.553 3.979.903 25% 30.09.2016. Cash and cash Trade Payables: The main reason for the rise is equivalents 60.724 71.870 -16% the increase in payables to OEM due t
Slide 14: Financing Costs
FINANCING COSTS Million TL 9M2016 9M2015 Δ 9M16/ 9M15 Financing Costs -196,018 -124,680 57% Finance expenses, net -195,680 -120,342 63% Interest expense on borrowings -191,308 -117,250 63% Commission expenses on letters of guarantee -2,553 -2,267 13% Other financial expenses -1,819 -0,825 120% Forei
Slide 15: Financial Performance
FINANCIAL PERFORMANCE Million TL 30.09.2016 31.12.2015 Δ Working capital 3.233 2.390 35% Net cash position -2.677 -1.902 -41% Receivable Turnover (day) 26 37 -30% Inventory Turnover (day) 92 45 104% Payable Turnover (day) 39 19 107% Million TL 30.09.2016 31.12.2015 Δ CAPEX 147 169 -13% ROA 2,9% 7,6%
Slide 16: Major Public Material Disclosures in 2016
Major Public Material Disclosures in 2016 26.02.2016 – Directors and Officers (D&O) Liability Insurance: Company’s Board of Directors have been insured by Doğuş Holding A.Ş. in the scope of the “Directors and Officers Liability Insurance” with a collateral of 25 mio USD annually to cover claims resu
Slide 17: Thank You – Q & A
THANK YOU -Q&A ang i). I LB ts
Slide 18: Disclaimer
Disclaimer Doğuş Otomotiv Servis ve Ticaret A.Ş. (the “DOAS”) has prepared this presentation documents (the “Document”) consisting of documents and appendixes thereto for the sole purposes of providing information and projections and statements relating to the DOAS (the “Information”). DOAS cannot g
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