Pinar Sut Mamulleri Sanayii A.s. · BIST:PNSUT

Pinar Sut Mamulleri Sanayii A.s — Pınar Süt Mamulleri Sanayii A.Ş. — H1 2017 Earnings Presentation

17 slides from Pinar Sut Mamulleri Sanayii A.s's earnings presentation, 2017

  1. Slide 1: 2017-H1 Earnings Presentation

    investorrelations@pinarsut.com.tr PINAR SÜT MAMULLERİ SANAYİİ A.Ş. 2017-H1 Earnings Presentation

  2. Slide 2: 2017-H1 Highlights

    1 2017-H1 │ Highlights 2017-H1 Dairy Consumer Raw Milk Financial Market* Price Index Prices Summary  Compared to the  Annual Consumer Price  The National Milk  Compared to the same period of the Index (CPI) was 10.9% at Council raised the same period of the last year; the end of June base price

  3. Slide 3: 2017-H1 Market Dynamics

    2 2017-H1 │ Market Dynamics Annual Milk Production Inflation and Unprocessed Food Prices in Turkey (m Ton)  In the second 27.3% Source: TSI 30% quarter of the Source: TSI, annual changes 24.6% Year Milk Production 25% year, unprocessed 2002 8.4 20% food prices 2003 10.6 21.2% inflation was 15% 2004

  4. Slide 4: 2017-H1 Market Dynamics: Raw Milk Prices

    3 2017-H1 │ Market Dynamics 2014 2015 2016 2017 Raw Milk Prices Average Price  After 30 months, at the beginning August 1, 2017 – 1.30TL Change 1.40 TL (Annual) of 2017 the raw milk base prices were increased (1.21 TL/LT), 5.2% 1.20 TL 0% consequently the prices were 4.9% increased by 5.2% on avera

  5. Slide 5: 2017-H1 Market

    4 2017-H1 │ Market Dairy Market* 3,100.0m TL 15.0% 14.1%  In the first half of 2017, measurable 3,000.0m TL 14.0% 14.0% dairy market turnover grew by 11.7% 2,900.0m TL 13.0% and its volume expanded by 4.0%, YoY. 2,800.0m TL 3,069 m 12.0% TL  Total milk and total cheese constituted 2,700.0m TL 2,74

  6. Slide 6: 2017-H1 New Products and Packages

    5 2017-H1 │ New Products and Packages  Pınar Protein Milk cocoa and vanilla 500  Pınar 100% fruit juices in new 200 ml in new prism packages presented to ml packages consumers.  Pınar yoghurt flower pot design  Pınar with D vitamins 60% light milk

  7. Slide 7: 2017-H1 Sales Breakdown

    6 2017-H1 │ Sales Breakdown Growth in traditional cheese segment Product Portfolio 2016-H1 2017-H1 Net Sales  After the launch, Pınar Cottage Cheese has been strengthening its position in the market and rose to the second position with a 16,6% market share.

  8. Slide 8: 2017-H1 Sales Breakdown: Channels

    7 2017-H1 │ Sales Breakdown│ Channels Sales Direct 7% Channels 5% Net Sales 12% Export 15% 80% YBP 80% 2016-H1 2017-H1  Yaşar Birleşik Pazarlama, which is the distribution company of Yaşar Food Group, ranks 116th in 2016 in the top 500 rankings of Fortune magazine.

  9. Slide 9: 2017-H1 Sales Breakdown: Export

    8 2017-H1 │ Sales Breakdown│ Export Exports Breakdown by Country (%)  $23.6 million export was realized in the 2017-H1 accounting 25.7 for a 5.7% increase in terms of US Dollar 18.6 when compared to the 14.4 same period of 2016. 12.4 11.6 8.7 4.6  The share of exports in 4.1 net sales reached up t

  10. Slide 10: 2017-H1 Income Statement

    9 2017-H1 │ Income Statement (Million TL) H1-2017 H1-2016 Difference % Change Net Sales 576.6 544.6 32.0 5.9 Cost of Goods Sold (474.1) (439.0) (35.1) 8.0 Gross Profit 102.4 105.6 (3.2) (3.0) R&D Expenses (5.8) (5.3) (0.5) 9.9 Sales, Distribution and Marketing (46.6) (38.5) (8.1) 21.2 Expenses Gener

  11. Slide 11: 2017-H1 Sales and Profitability

    10 2017-H1 │ Sales and Profitability Net Sales (m TL) Gross Profit (m TL) 200.0 17.9% 19.4% 180.0 16.8% 16.1% 17.8% 20.0% 160.0 140.0 15.0% 120.0 1,068 100.0 191.1 1,011 157.7 162.4 10.0% 80.0 940 60.0 545 577 40.0 105.6 102.4 5.0% 20.0 0.0 0.0% 2014 2015 2016 2016-H1 2017-H1 2014 2015 2016 2016-H1

  12. Slide 12: 2017-H1 Profit Margins

    11 2017-H1 │ Profit Margins Gross Profit EBIT 18.8% 19.0% 7.3% 6.7% 5.8% 6.1% 17.9% 5.3% 16.8% 16.7% 3.3% 16.1% 2014 2015 2016 1Q17 2Q17 2Q16 2014 2015 2016 1Q17 2Q17 2Q16 EBITDA* Net Profit 9.3% 9.8% 8.3% 9.2% 8.6% 7.6% 7.6% 6.2% 6.6% 5.6% 5.9% 1.7% 2014 2015 2016 1Q17 2Q17 2Q16 2014 2015 2016 1Q17

  13. Slide 13: 2017-H1 Financial Ratios

    12 2017-H1 │ Financial Ratios Balance Sheet Ratios 2013/12 2014/12 2015/12 2016/12 2017/06 Current Ratio 1.51 1.42 1.16 1.23 1.16 Leverage Ratio 0.30 0.32 0.34 0.36 0.41 Current Borrowings/Total Borrowings (Fin.) 1.00 0.55 0.93 0.56 0.65 Net Fin. Borrowings/EBITDA 0.05 0.16 0.35 0.78 0.98 Net Fin. B

  14. Slide 14: Ownership, Participations, Auditors

    13 Ownership │ Participations│ Auditors Ownership Structure Auditors Financial Affairs Yaşar Holding A.Ş. 61% Price Waterhouse Coopers Free Float 39% Ernst&Young Production TSE Participations Breau Veritas Participation İştirak Share in Capital İştirak Oranı %% Yaşar Birleşik Pazarlama A.Ş. 31,8 Foo

  15. Slide 15: Stock Performance

    Stock Performance 200 25,00 150 100,00 14,71 20,00 15,00 100 10,00 11,85 83,56 50 5,00 - 0,00 Relative to XUTUM BİST-TÜM'e göre (sol eksen) PNSUT (Sağ eksen) (TL) Corporate Governance Rating: 9.24 Borsa İstanbul Ticker Symbol: PNSUT Date of Listing: 03.02.1986 14

  16. Slide 16: Disclaimer and Contact Information

    15 Disclaimer and Contact Information This presentation does not constitute an offer or invitation to purchase or subscription for any securities and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. This presentation contains forward-l

  17. Slide 17: Thank you

    Thank you

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