Slide 1: FY 2023 Earnings Results Presentation
FY 2023 EARNINGS RESULTS PRESENTATION
Slide 2: Disclaimer Regarding IAS 29
Disclaimer Regarding IAS 29 The Company's forward looking expectations for the year-end 2023 financial results, which were previously disclosed to public on December 1, 2023, have not been subject to inflation accounting in accordance with “Financial Reporting in Hyperinflationary Economies Standard
Slide 3: Outstanding growth achieved both financially and operationally throughout the year
Outstanding growth was achieved both financially and operationally throughout the year FY 2023 Key Highlights Growth Across all Key Indicators New transformation program on track from a “traditional retailer” to “digital-first” Omnichannel structure continued 31x SKU increase delivering robust resul
Slide 4: FY23 Financial Results
FY23 FINANCIAL RESULTS Teknosa | Genel (Halka Açık) | Public
Slide 5: Strong market growth continued despite macro uncertainties
Strong market growth continued despite macro uncertainties Market Revenue Growth* Demand Growth by Categories* Billion TL Y-o-y% 122% 154% w/o IAS 29 w/o IAS 29 134% 124% 116% 105% 102% 103% 532 107% 96% 95% 100% 132 77% 71% 266 64 Home White Goods Information Telecom Consumer 2022 2023 2022 2023 Ap
Slide 6: Revenues outpaced inflation significantly as demand continues to grow
Revenues outpaced inflation significantly as demand continues to grow (Million TL) Revenues E-Commerce Revenue by Gross Merchandise Value Segments (GMV) 5% +68% +45% 10,053 +122% 47,322 2023 FY +154% Retail İklimsa 8,335 38,696 Inflation 95% 32,712 Accounting 5,974 Retail Net Merchandise Value (NMV)
Slide 7: Better gross profitability & controlled OpEx significantly improved operational profitability
Better Gross Profitability & controlled OpEx significantly improved operational profitability (Million TL) Gross Profit Margin EBITDA & EBITDA margin 57 bps +138% improvement 3,438 16.7% 17.2% 195 bps improvement 10.7% +1,086% 8.7% 1,447 8.9% 1,079 8.3% 0.3% 91 2.3% FY22 FY23 FY22 FY23 FY22 FY23 FY2
Slide 8: Inflation Accounting Impact on Net Income
Inflation Accounting Impact on Net Income (Million TL) 863 271 748 1,619 3,388 1,162 P&L Index Impact Inventories (high monthly purchases) Fixed Asset & IFRS 16 53 Equity 398 FY23 Gross Profit Opex Other Net Financial Monetary Gain Tax FY23 Net Income Difference Difference Expenses Difference Increa
Slide 9: Maintained negative net working capital while increasing investments
Maintained negative net working capital while increasing investments Net Working Capital (TL Mn) CAPEX (TL Mn) Inventories Trade Receivables Trade Payables +69% +38% -45% 582 +154% 487 7,803 4.095 5.169 8,363 5,659 3,265 344 441 931 727 496 931 2.511 528 4,561 264 7,515 5.536 192 9,914 4.668 9,914 2
Slide 10: Kept strong free cash flow generation despite the inflation impact
Kept strong free cash flow generation despite the inflation impact (Million TL) Free Cash Flow Net Cash (TL Mn), Cash Currency (TL Mn) excl. IFRS 16 Breakdown +121% +2% 2,739 2,675 2,310 2,620 2,196 2,196 1,399 35% 1,239 65% FY22 FY23 FY22 FY23 FY22 FY23 FY22 FY23 Hard Currency TL Nominal Nominal In
Slide 11: We exceeded 2023 expectations and maintained 2024 Outlook
We exceeded 2023 expectations and maintained 2024 Outlook Our Guidance Beklentilerimiz 2023F2023T w/o IAS 29 2023A w/o IAS 29 2024F w/o IAS 29 2024T E-Commerce GMV* 7.5 bln TL 8.3 bln TL 15 bln TL CAPEX 500 mln TL 487 mln TL 1 bln TL Target to maintain EBITDA Margin (%) High single digit 8.9% at hig
Slide 12: Q&A
Q&A TEKNOSA INVESTOR RELATIONS Ümit Kocagil CFO Dilek Aktaş Head of Finance & IR Sibel Turhan IR Manager Investor Relations e-mail: yatirimciiliskileri@teknosa.com Teknosa | Genel (Halka Açık) | Public
Slide 13: Appendix
APPENDIX Teknosa | Genel (Halka Açık) | Public
Slide 14: Income Statement w/ IAS 29
Income Statement w/ IAS 29 2023 2022 Change (%) Net Sales (Mn TL) 47,322 32,712 45% Gross Profit (Mn TL) 5,045 2,848 77% Gross Profit Margin (%) 10.7% 8.7% +195 bps Opex/Sales (%) 10.2% 10.6% -42 bps EBITDA (Mn TL) 1,079 91 1087% EBITDA Margin (%) 2.3% 0.3% +200 bps Other Income (Expense) (Mn TL) -1
Slide 15: Balance Sheet w/ IAS 29
Balance Sheet w/ IAS 29 2023 2022 Assets (Mn TL) Current Assets 12,427 9,240 Cash and Cash Equivalents 2,739 2,643 Trade Receivables 931 727 Inventories 8,363 5,659 Other Current Assets 394 211 Non-current Assets 2,263 1,741 Property, Plant and Equipment 752 447 Intangible Assets 246 214 Right of Us
Slide 16: Disclaimer
Disclaimer The information and opinions contained in this document have been compiled by Teknosa İç ve Dış Ticaret A.Ş. (“Teknosa”) from sources believed to be reliable and in good faith, but no representation or warranty, expressed or implied, is made as to their accuracy, completeness or correctne