Slide 1: Pınar Süt Earnings Presentation 2020-Q1
Pınar Süt Earnings Presentation 2020-Q1
Slide 2: Pınar Süt at a Glance
2020-Q1 PINAR SÜT AT A GLANCE 1
Slide 3: Highlights
2020-Q1 HIGHLIGHTS 506.9 33.7% 27.4 million TL Net Sales million TL Net Sales Growth Net Profit 11.0 5.8 1,006 million dollar million TL Employees in Export Sales Capex 2020-Q1 ˗ The liter of raw milk base price determined by the National Milk Council was 35.3% higher in the first quarter of 2020 co
Slide 4: Market Dynamics: Production and Cost
2020-Q1 MARKET DYNAMICS PRODUCTION AND COST Number of Milked Animals and Raw Milk Production Production of Dairy Products in Turkey Milked animals, million head 32.0 TSI TSI, thousand tons 30.6 Milk production, million tons 28.5 24.6 25.5 25.2 Products 2018 2019 Change 23.9 Drinking Milk 1,661 1,540
Slide 5: Market Dynamics: Consumption and Market
2020-Q1 MARKET DYNAMICS CONSUMPTION AND MARKET Share of Packaged Products Packaged Products Penetration IPSOS IPSOS 52.8% 54.4% 96.4 96.6 95.8 95.4 40.1% 39.3% Milk Cheese Milk (UHT) Cheese 2018 2019 Total Milk and Total Cheese Turnover and Volume +2.4% +40.2% Nielsen, BIM Excl. 163.9 167.8 +28.4% 1
Slide 6: Market Position
2020-Q1 MARKET POSITION Pınar Süt and Competitors 2020-3M, Nielsen, BİM Excl. Market Shares Based on Products 2020-3M, Nielsen, BİM Excl. Pınar Closest Competitor Product Share Position Total UHT Milk 26.1% 1# UHT Light Milk 39.1% 1# Enriched Milk (Kids) 74.4% 1# Protein Milk 56.9% 1# Total UHT Milk
Slide 7: Net Sales Breakdown
2020-Q1 FINANCIALS NET SALES BREAKDOWN *Other Based on 7% Product Groups Dairy *Fruit juice, Products sauce, other 93% Based on Sales Export Channel 14% 11.0 million Dollar S. Arabia 30.5% Kuwait 14.4% Direct UAE 11.7% 1% Iraq 11.2% Bahrain 4.9% Azerbaijan 4.2% YBP *Yaşar Birleşik Pazarlama, the Cyp
Slide 8: Income Statement
2020-Q1 FINANCIALS INCOME STATEMENT 01.01.20 01.01.19 (Million TL) 31.03.20 31.03.19 Difference Change Net Sales 506.9 379.2 127.7 33.7% Cost of Goods Sold (430.9) (325.9) (105.1) 32.2% Gross Profit 76.0 53.3 22.6 42.5% R&D Expenses (3.3) (3.3) 0.0 -0.9% Sales, Distribution and Marketing (32.4) (28.
Slide 9: Sales and Profitability – Annually
2020-Q1 FINANCIALS SALES AND PROFITABILITY – ANNUALLY Net Sales Gross Profit million TL 345.0 17.9% 20.0% 322.0 299.0 16.1% 15.9% 15.6% 18.0% 16.0% 12.2% 276.0 253.0 14.0% 230.0 12.0% 207.0 184.0 10.0% 1,665 161.0 231.6 1,488 138.0 8.0% 203.1 1,068 1,240 115.0 196.8 6.0% 1,011 92.0 69.0 191.1 4.0% 4
Slide 10: Sales and Profitability – Quarterly
2020-Q1 FINANCIALS SALES AND PROFITABILITY – QUARTERLY Net Sales Gross Profit million TL 1,665 15.9% 15.6% 15.0% 1,488 13.3% 14.1% 1,240 12.2% 452 507 379 2017 2018 2019 4Q19 1Q20 1Q19 2017 2018 2019 4Q19 1Q20 1Q19 EBITDA Net Profit 8.0% 5.4% 7.6% 6.9% 4.6% 5.8% 3.8% 3.5% 5.3% 5.4% 3.3% 2.1% 2017 20
Slide 11: Financial Ratios and Capital Expenditures
2020-Q1 FINANCIALS FINANCIAL RATIOS 2016/12 2017/12 2018/12 2019/12 2020/03 Current Ratio 1.23 1.21 1.07 1.23 1.21 Leverage Ratio 0.36 0.43 0.44 0.42 0.46 Current Borrowings/Total Borrowings (Fin.) 0.56 0.64 0.81 0.44 0.49 Net Fin. Borrowings/EBITDA 0.82 1.29 1.49 1.57 5.07 Net Fin. Borrowings/Equit
Slide 12: Ownership Structure
2020-Q1 OWNERSHIP STRUCTURE Shareholder Share Rate (%) Share Amount(TL) 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 Main Market-Group 1 under the ticker symbol PNSUT. 11
Slide 13: Disclaimer and Contact Information
2020-Q1 DISCLAIMER AND CONTACT INFORMATON BİLGİLERİ 12