Migros Ticaret A.s. · BIST:MGROS
Migros Ticaret A.s — Q1 2011 Earnings Presentation
8 slides from Migros Ticaret A.s's earnings presentation, May 13, 2011
Slide 1: Migros Ticaret A.Ş. Q1 2011 Financial Results
Migros Ticaret A.Ş. Q1 2011 Financial Results May 13, 2011
Slide 2: Content
P1 CONTENT 1) Financial Highlights 2) Expansion 3) Performance of Supermarkets and Hypermarkets 4) Performance of Discount Operations 5) Cost Management 6) Conclusions
Slide 3: Financial Highlights
1 Financial Highlights Consolidated sales 9.8% higher in Q1 2011 vs. Q1 2010 P2 Performance of Supermarket and Hypermarket formats meets the expectations Şok lagging behind the other Group formats due to its repositioning into hard discount format Kazakhstan driving the 32% international sales
Slide 4: Expansion
2 Expansion P3 Discounts (Turkey) Tansaş to Migros Planned Conversions are finalised in Q1 2011 Number of stores Selling area ('000 sqm) In 4Q10, 49 Tansaş stores and in 1Q11, 95 Tansaş stores were converted to Migros 1500 239 242 250 173 Tansaş now operating in 8 cities in the west coast of the
Slide 5: Performance of Supermarkets and Hypermarkets
3 Performance of Supermarkets and Hypermarkets P4 Close to double-digit top line growth Uplift in Supermarket and Hypermarket sales reflected in positive like-for-like sales growth owing to: — New pricing implemented in fresh categories — Improvement in the private label assortment with aggressive
Slide 6: Structural Changes in Şok
4 Structural Changes in Şok P5 Expansion to achieve economies of scale on track In the last two years, nearly doubled the number of stores, reaching 1,259 by the end of 1Q11 — Net opening of 607 new Şok stores In 1Q2011, 32 new stores were opened and 30 stores were closed due to their incompatib
Slide 7: Cost Management
5 Cost Management P6 Improvement in cost base through efficiencies Cost increases are contained, through cost saving initiatives, efficient supply chain and in-store improvements — Nominal increase in electricity costs is kept at 5%, lower than physical growth — Head Office staff costs are 1% lowe
Slide 8: Conclusions
6 Conclusions P7 Expansion plan progressing as planned Tansaş format conversions to Migros completed Supermarket and Hypermarket performance meets the expectations Cost cutting initiatives on G&A accomplished Şok restructuring progressing as planned and better store contribution targeted