Bim Birlesik Magazalar A.s. · BIST:BIMAS

Bim Birlesik Magazalar A.s — FY2016 Earnings Presentation

23 slides from Bim Birlesik Magazalar A.s's earnings presentation, 2017

  1. Slide 1: Results Presentation

    RESULTS PRESENTATION For the 12 months to 31 December 2016

  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

    HEADLINES 3

  4. Slide 4: Headlines for 2016

    HEADLINES FOR 2016 20,1 TL billion 997 TL million 562TL million CAPEX at Sales (+15% YoY) EBITDA (15% YoY) 2,8% of sales Expected net sales Strong EBITDA and Continued in 2016 profit margins Expansion FILE 671 TL million Stores: 5.602 in Turkey 21 stores by the end of (15 % YoY) Net Income 329 in Mo

  5. Slide 5: Figures

    FIGURES 5

  6. Slide 6: Annual/Quarterly Net Sales and Gross Profit

    ANNUAL/ QUARTERLY NET SALES AND GROSS PROFIT Annually, TL million Quarterly, TL million 5.056 5.234 4.971 4.811 20.072 4.536 17.429 3.363 881 868 14.463 818 2.816 797 11.849 9.906 740 2.226 1.857 1.559 2012A 2013A 2014A 2015A 2016A 4Q15 1Q16 2Q16 3Q16 4Q16 Net Sales Gross Profit Net Sales Gross Prof

  7. Slide 7: Annual/Quarterly EBITDA and EBIT

    ANNUAL/ QUARTERLY EBITDA AND EBIT Annually, TL million Quarterly, TL million 264 260 997 243 229 230 865 210 201 783 194 185 697 179 596 619 491 485 482 398 2012 2013 2014 2015 2016 4Q15 1Q16 2Q16 3Q16 4Q16 EBITDA EBIT EBITDA EBIT EBITDA Margin EBITDA Margin 5,0% 5,0% 4,3% 5,0% 5,0% 5,1% 5,0% 4,6% 5

  8. Slide 8: Annual/Quarterly Net Income

    ANNUAL/ QUARTERLY NET INCOME Annually, TL million Quarterly, TL million 671 193 583 172 162 141 144 413 395 332 2012A 2013A 2014A 2015A 2016A 4Q15 1Q16 2Q16 3Q16 4Q16 Net Income Net Income Net Income Margin Net Income Margin 3,3% 3,5% 2,7% 3,3% 3,3% 3,1% 3,4% 2,9% 3,4% 3,7% 8

  9. Slide 9: Earnings and Dividend

    EARNINGS AND DIVIDEND Earnings Per Share and Dividend Per Dividend Yield & Payout Ratio, % Share in Gross, TL 2,21 69 1,92 66 58 57 * 1,36 1,30 2,0 * 1,09 1,10 * 1,7 1,7 0,90 1,6 0,80 0,73 2012A 2013A 2014A 2015A 2016A 2012A 2013A 2014A 2015A 2016A Earnings Per Share Dividends Per Share in Gross Div

  10. Slide 10: Like for Like Sales Increase

    LIKE FOR LIKE SALES INCREASE BIM TURKEY (*) Annual Quarterly 2015 A 2016 A CHANGE 2015 Q4 2016 Q4 CHANGE Like-For-Like Like-For-Like Sales (per store/per 9.911 10.458 5,5% Sales (per store/per 9.941 10.427 4,9% day -TL) day -TL) Like-For-Like Like-For-Like 13,77 14,75 7,1% 14,07 14,89 5,8% Basket (T

  11. Slide 11: Private Label Share in Sales

    Private Label Share in Sales (PL) 2016 BIM TURKEY 2015 BIM TURKEY PL SPOT PL SPOT 68,4% 4,2% 69,3% 4,3% BR BR 22,2% 20,6% EX EX 5,2% 5,8% Other Operations PL Share in Sales 35% 30% 33% 30% 25% 20% 15% 10% 10% 5% 0% Morocco Egypt FILE 11

  12. Slide 12: Capex

    CAPEX 2016 Capex Breakdown Annual Capex & % of Net Sales 9% 2,9% 2,9% 2,8% 2,4% 2,1% 562 18% 499 44% 412 241 246 29% 2012A 2013A 2014A 2015A 2016A Annual CAPEX -ml TL % of Net Sales New Store Openings New Warehouse & Land Acquisitions Store Maintenance Warehouse Maintenance 12

  13. Slide 13: Operational Expenses

    OPERATIONAL EXPENSES 2015 SG&A Analysis, TL million 2016 SG&A Analysis, TL million 2.816,4 1.036,8 3.363 1.274 423,2 509,4 94,1 111,3 97,0 300,0 119,6 351,5 865,3 168,4 997,0 213,7 696,9 783,3 % of Sales % of Sales +16,2 -5,9 -2,4 -0,5 -0,6 -1,8 +5,0 -1,0 +4,0 +16,8 -6,3 -2,5 -0,6 -0,6 -1,8 +5,0 -1,

  14. Slide 14: Strong Store Growth Continues

    STRONG STORE GROWTH CONTINUES Number of Stores (BİM Turkey) 5.602 Annually Quarterly 5.602 4.972 4.502 5.437 5.374 4.000 3.655 5.160 4.972 2012 2013 2014 2015 2016 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Stores in Turkey (BİM) Stores in Turkey (BİM) 14

  15. Slide 15: FİLE Highlights

    FİLE HIGHLIGHTS FİLE STORES • 21 stores as of 2016 (total of 25.000 m2 selling space) and 25 to date. • 4.000 SKU’s variety and 1.200 m2 avrg selling space per store • Our target for 2017 is to accelerate 46 store openings, 25 planned new stores • This year we have opened first FILE warehouse in Feb

  16. Slide 16: Foreign Operations Highlights

    FOREIGN OPERATIONS HIGHLIGHTS MOROCCO EGYPT Annually Annually 329 279 215 233 140 164 110 81 76 35 2011 2012 2013 2014 2015 2016 2013 2014 2015 2016 • 50 Stores opened in 2016, by 31 December 2016 we • 75 stores opened in 2016, by 31 December 2016 we have 329 stores had 215 stores • Third warehouse

  17. Slide 17: Foreign Operations - Contributions

    FOREIGN OPERATIONS - CONTRIBUTIONS Contribution to Consolidated Sales Contribution to Consolidated 2015-2016, TL million EBITDA 2015-2016, TL million 820 -41 -43 658 20.072 1.038 997 19.252 908 17.429 865 16.771 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 Domestic Foreign Total Domes

  18. Slide 18: Targets vs Actual and Looking Ahead to 2017

    TARGETS vs ACTUAL and LOOKING AHEAD to 2017 2016 2016 2017 TARGET ACTUAL TARGET SALES GROWTH (%) ~ 15% (*) 15,2% 15% to 18% EBITDA MARGIN (%) 5,0% (+ - 50 bps) 5,0% 5,0% (+ - 50 bps) CAPEX mil TL ~ 700 562 ~ 500 CONSOLIDATED NEW ~ 795 ~ 635 767 STORE OPENINGS TURKEY ~ 600 630 ~500 MOROCCO ~ 80 50 ~6

  19. Slide 19: Q&A

    Q&A 19

  20. Slide 20: Appendix Q&A: IFRS Financials

    APPENDIX Q & A IFRS Financials 20

  21. Slide 21: IFRS Income Statement

    IFRS INCOME STATEMENT 3 months ended 31 December 12 months ended 31 December TL million 2015 2016 Change 2015 2016 Change Net Sales 4.535,6 5.233,7 15,4% 17.428,5 20.071,7 15,2% (COGS) (3.795,2) (4.352,9) 14,7% (14.612,1) (16.708,7) 14,3% Gross Profit 740,4 880,8 19,0% 2.816,4 3.363,0 19,4% Total SG

  22. Slide 22: IFRS Balance Sheet

    IFRS BALANCE SHEET As at 31 December TL million 2015 2016 Intangible assets 5,4 7,4 Tangible assets 1.784,7 2.090,8 Financial Investments (long term) 181,8 193,4 Other non-current assets 35,3 42,8 Total fixed assets 2.007,2 2.334,4 Trades receivable 525,7 645,5 Inventories 975,3 1.119,0 Prepayment a

  23. Slide 23: IFRS Cash Flow

    IFRS CASH FLOW 3 months ended 31 December 12 months ended 31 December TL million 2015 2016 2015 2016 Net Income 141,2 193,2 583,2 670,9 D&A 44,5 58,3 168,4 213,7 Non cash tax expense 40,0 48,1 165,8 178,3 Other non-cash items (8,7) (3,6) 4,6 27,3 Funds from operations 217,0 296,0 922,0 1.090,2 Tax &

BİM Birleşik Mağazalar A.Ş. — FY2016 Earnings Presentation on 6ix