Bim Birlesik Magazalar A.s. · BIST:BIMAS

Bim Birlesik Magazalar A.s — Q1 2019 Earnings Presentation

16 slides from Bim Birlesik Magazalar A.s's earnings presentation, 2019

  1. Slide 1: Results Presentation

    RESULTS PRESENTATION For the 3 months to 31 March 2019

  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: Headlines for First Quarter 2019

    HEADLINES for FIRST QUARTER 2019 268,1 TL million 9.025 TL million 7.713 total stores Sales (+29,5% YoY) 235 new openings in Q1 2019 CAPEX at 3,0% of sales 654,2 TL million 215,4 TL million EBITDA with IFRS16 (80% YoY) Net Income with IFRS16 (-8,1% YoY) (420,2 TL million without IFRS16 (265,8 TL mil

  4. Slide 4: Impact of IFRS 16 (Lease Accounting)

    IMPACT OF IFRS 16 (Lease Accounting) As of 1 January 2019, BIM will report its consolidated accounts in as prescribed by IFRS 16. On the Income Statement, rents expense will be replaced by interest and depreciation. The new IFRS standard brings most leases on-balance sheet under a single model, remo

  5. Slide 5: Quarterly Net Sales and Gross Profit

    QUARTERLY NET SALES AND GROSS PROFIT Net Sales, Quarterly (TL million) Gross Profit, Quarterly (TL million) 1Q19 9.025 1Q19 1.537 4Q18 9.094 4Q18 1.532 3Q18 1.584 3Q18 8.460 2Q18 1.376 2Q18 7.799 1Q18 1.218 1Q18 6.970 Gross Margin (%) 1Q18 2Q18 3Q18 4Q18 1Q19 17,5% 17,6% 18,7% 16,8% 17,0% 1Q18/1Q19

  6. Slide 6: Quarterly EBITDA and EBIT

    QUARTERLY EBITDA AND EBIT IFRS 16 EBITDA and EBIT Quarterly (TL million) IMPACT 234 654 1Q19 84 403 EBITDA Margin 511 1Q18 2Q18 3Q18 4Q18 1Q19 1Q19 w/o 4Q18 IFRS 16 413 5,2% 5,7% 6,6% 5,6% 7,2% 4,7% 562 3Q18 472 EBIT Margin 1Q18 2Q18 3Q18 4Q17 1Q19 1Q19 w/o 442 IFRS 16 2Q18 358 4,1% 4,6% 5,6% 4,5% 4

  7. Slide 7: Quarterly Net Income

    QUARTERLY NET INCOME Net Income, Quarterly (TL million) IFRS 16 IMPACT 1Q19 215 51 Net Income Margin 4Q18 359 1Q18 2Q18 3Q18 4Q18 1Q19 1Q19 w/o IFRS16 3Q18 364 3,4% 3,8% 4,3% 3,9% 2,4% 2,9% 2Q18 293 1Q18 234 Net Income Growth Net Income Growth (1Q18/1Q19) (1Q18/1Q19 without IFRS16 impact ) -8,1% 13,

  8. Slide 8: Like for Like Sales Increase

    LIKE FOR LIKE SALES INCREASE BIM TURKEY Quarterly 2018 Q1 2019 Q1 CHANGE Like-For-Like Sales (per 12.047 14.291 18,6% store/per day -TL) Like-For-Like Basket (TL) 17,69 20,86 17,9% Like-For-Like Customer 681,0 685,1 0,6% Traffic (Per store/per Day) (*)Note: calculated on the basis of net sales gener

  9. Slide 9: CAPEX

    CAPEX 3,2% 3,5% 3,0% 2,8% 2,4% 315 268 248 • Three new warehouses 193 199 opened up to date • Double warehouses to be opened on European side late 2019 • Q1 CAPEX corresponds to 39% YoY and 3% of sales which is in 1Q18 2Q18 3Q18 4Q18 1Q19 line with our annual outlook CAPEX- ml TL % of Net Sales 9

  10. Slide 10: Strong Store Growth Continues

    STRONG STORE GROWTH CONTINUES Number of Stores Store Growth (YoY) 1Q19 6.956 757 7.713 * 10% 4Q18 6.736 742 7.478 * New Openings Q1 3Q18 6.611 712 7.323* 235 2Q18 6.516 695 7.211 * 1Q18 6.305 676 6.981* Annual New Openings 732 Turkey (Inc. FILE) Foreign Note (*): Total number of consolidated stores.

  11. Slide 11: Foreign Operations & FİLE Highlights

    FOREIGN OPERATIONS & FİLE HIGHLIGHTS MOROCCO EGYPT • 14 new stores opened • 1 new store opened • In total we have 456 stores in Morocco • In total we have 301 stores as at Q1 19 as at Q1 19 • Store opening slowing down as • EBITDA positive predicted FİLE • 7 new stores opened this quarter • By the e

  12. Slide 12: Toptan Fiyatına Perakende Satış

    TOPTAN FIYATINA PERAKENDE SATIS SATIS

  13. Slide 13: Appendix: IFRS Financials

    APPENDIX IFRS Financials 13

  14. Slide 14: IFRS Income Statement

    IFRS INCOME STATEMENT 3 months ended 31 March 2019 IFRS16 2019 2018 Change % TL million IFRS16 Impact without without 2018 / 2019 without IFRS 16 IFRS 16 IFRS 16 Net Sales 9.025,3 9.025,3 6.969,9 29,5% (COGS) (7.488,4) (7.488,4) (5.752,0) 30,2% Gross Profit 1.536,9 1.536,9 1.217,9 26,2% Total SG&A (

  15. Slide 15: IFRS Balance Sheet

    IFRS BALANCE SHEET As at 31 March TL million Q1 2018 Q1 2019 Intangible assets 12,9 38,5 Tangible assets 3.170,2 3.861,2 Right of Use Assets (IFRS 16) - 3.589,1 Financial Investments (long term) 309,7 481,7 Other non-current assets 41,4 33,8 Total fixed assets 3.534,2 8.004,3 Trades receivable 939,2

  16. Slide 16: IFRS Cash Flow

    IFRS CASH FLOW 3 months ended 31 March TL million 2018 2019 Net Income 234,3 215,4 D&A 77,5 251,7 Non cash tax expense 72,2 64,1 Other non-cash items 1,9 151,9 Funds from operations 385,9 683,1 Change in net working capital (118,6) (23,7) Tax & other payments (48,8) (91,2) Operating cash flow 218,5

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