Bim Birlesik Magazalar A.s. · BIST:BIMAS

Bim Birlesik Magazalar A.s — Q2 2019 Earnings Presentation

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

  1. Slide 1: Results Presentation

    RESULTS PRESENTATION For the 3 months to 30 June 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: Key Figures for Second Quarter 2019

    KEY FIGURES FOR SECOND QUARTER 2019 10.245 TL billion 270TL million CAPEX Sales (+31 % YoY) 7.970 total stores 492 new openings in 2019 at 2,6% of sales 847 TL million 347 TL million EBITDA (92% YoY) Net Income (18 % YoY) (594 TL million without IFRS16 impact, +34% YoY growth and (402 TL million wit

  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: Net Sales and Gross Profit

    NET SALES AND GROSS PROFIT Net Sales, Quarterly (TL million) Net Sales, Semi-Annually (TL million) 2Q19 10.245 1Q19 9.025 1H19 19.271 4Q18 9.094 3Q18 8.460 1H18 14.769 2Q18 7.799 Gross Profit, Quarterly (TL million) Gross Profit, Semi-Annually (TL million) 2Q19 1.805 H119 3.342 1Q19 1.537 4Q18 1.532

  6. Slide 6: EBITDA and EBIT Quarterly

    IFRS 16 EBITDA AND EBIT QUARTERLY IMPACT EBITDA and EBIT Quarterly (TL million) EBITDA Margin (without IFRS 16) 253 847 2Q19 2Q18 3Q18 4Q18 1Q19 2Q19 89 575 5,7% 6,6% 5,6% 4,7% 5,8% 234 654 EBITDA Margin 1Q19 84 403 (with IFRS 16) 1Q19 2Q19 511 7,2% 8,3% 4Q18 413 562 EBIT Margin (without IFRS 16) 3Q

  7. Slide 7: EBITDA and EBIT Semi-Annually

    EBITDA AND EBIT SEMI-ANNUALLY EBITDA and EBIT Semi-Annually (TL million) IFRS 16 IMPACT EBITDA Margin EBITDA Margin 487 1H18 1H19 (without IFRS 16) 1.501 1H19 5,5% 7,8% 1H18 1H19 173 977 5,5% 5,3% 806 1H18 EBIT Margin EBIT Margin 645 1H18 1H19 (without IFRS 16) 4,4% 5,1% 1H18 1H19 EBITDA EBIT 4,4% 4

  8. Slide 8: Net Income

    NET INCOME IFRS 16 NEGATIVE IMPACT Net Income, Quarterly (TL million) Net Income Margin (without IFRS 16) 2Q19 347 55 2Q18 3Q18 4Q18 1Q19 2Q19 1Q19 215 50 3,8% 4,3% 4,0% 2,9% 3,9% 4Q18 359 3Q18 364 Net Income Margin (with IFRS 16) 2Q18 293 1Q19 2Q19 Net Income, Semi-Annually (TL million) 2,4% 3,4% 1

  9. Slide 9: Like for Like Sales Increase

    LIKE FOR LIKE SALES INCREASE BIM TURKEY Quarterly Semi-Annually 2Q 2018 2Q 2019 CHANGE 1H 2018 2H 2019 CHANGE Like-For-Like Like-For-Like Sales (per 13.022 15.677 20,4% Sales (per store/per 12.494 14.950 19,7% store/per day -TL) day -TL) Like-For-Like Like-For-Like 18,93 22,51 18,9% 18,33 21,71 18,4

  10. Slide 10: CAPEX

    CAPEX Quarterly Capex Semi-Annually Capex 3,0% 2,8% 3,2% 3,5% 3,0% 2,6% 538 2,4% 315 441 268 270 248 199 2Q18 3Q18 4Q18 1Q19 2Q19 1H18 1H19 CAPEX- ml TL % of Net Sales CAPEX- ml TL % of Net Sales 10

  11. Slide 11: Strong Store Growth Continues

    STRONG STORE GROWTH CONTINUES Number of Stores Store Growth (2Q18/2Q19) Q219 7.199 771 7.970 * 11% Q119 6.956 757 7.713 * New Openings Q2 Q418 6.736 742 7.478 * 257 Q318 6.611 712 7.323 * New Openings in 1H19 Q218 6.516 695 7.211* 492 Turkey (Inc. FILE) Foreign New Openings Annually Note (*): Total

  12. Slide 12: Foreign Operations & FILE Highlights

    FOREIGN OPERATIONS & FİLE HIGHLIGHTS MOROCCO EGYPT • 11 new stores opened • 3 new store openings in Q2 • In total we have 467 stores in Morocco • Fewer stores in better locations as of Q2 19 • In total we have 304 stores as of Q2 19 • EBITDA POSITIVE in Q2 19 • Net Income break even in Q2 19 FİLE •

  13. Slide 13: Foreign Operations - Contributions

    FOREIGN OPERATIONS - CONTRIBUTIONS Contribution to Consolidated EBITDA H1 2018 - H1 2019, TL million Contribution to Consolidated Sales WITHOUT IFRS 16 H1 2018 - H1 2019, TL million 9 -7 1.005 1.014 812 805 1.102 689 H1 18 H1 19 H1 18 H1 19 H1 18 H1 19 Domestic Foreign Total 19.271 18.169 Contributi

  14. Slide 14: TOPTAN FIVATINA

    TOPTAN FIVATINA PERAKENDE SATIS SATIS

  15. Slide 15: IFRS Financials

    IFRS FINANCIALS TBIM| BIRLESIK MAGAZALARAS.

  16. Slide 16: IFRS Income Statement – 6 Months Period 2019/2018

    IFRS INCOME STATEMENT – 6 MONTHS PERIOD 2019/2018 6 months ended 30 June (01.01.2019 – 30.06.2019) 2019 IFRS 16 2019 2018 Change % TL million IFRS 16 Impact without without 2018 / 2019 IFRS 16 IFRS 16 without IFRS 16 Net Sales 19.270,7 - 19.270,7 14.768,8 30,5% (COGS) (15.929,0) - (15.929,0) (12.174

  17. Slide 17: IFRS Income Statement - Quarterly

    IFRS INCOME STATEMENT - QUARTERLY 3 months ended 30 June (01.04.2019 – 30.06.2019) 2019 IFRS 16 2019 2018 Change % TL million IFRS 16 Impact without without 2018 / 2019 IFRS 16 IFRS 16 without IFRS 16 Net Sales 10.245,4 - 10.245,4 7.798,9 31% (COGS) (8.440,6) - (8.440,6) (6.422,5) 31% Gross Profit 1

  18. Slide 18: IFRS Balance Sheet

    IFRS BALANCE SHEET As at 30 June TL million Q2 2018 Q2 2019 Intangible assets 15,5 38,5 Tangible assets 3.344,7 4.030,6 Right of Use Assets (IFRS 16) - 3.718,8 Financial Investments (long term) 309,7 481,7 Other non-current assets 46,8 40,2 Total fixed assets 3.716,7 8.309,8 Trades receivable 916,8

  19. Slide 19: IFRS Cash Flow

    IFRS CASH FLOW 3 months ended 30 June 6 months ended 30 June TL million 2018 2019 2018 2019 Net Income 293,2 346,8 527,5 562,2 D&A 83,7 271,9 161,2 523,6 Non cash tax expense 91,3 104,2 163,5 168,3 Other non-cash items 8,4 118,0 10,3 269,9 Funds from operations 476,6 840,9 862,5 1.524,0 Change in ne

BİM Birleşik Mağazalar A.Ş. — Q2 2019 Earnings Presentation on 6ix