Bim Birlesik Magazalar A.s. · BIST:BIMAS

Bim Birlesik Magazalar A.s — Q3 2014 Earnings Presentation

17 slides from Bim Birlesik Magazalar A.s's earnings presentation, Sep 30, 2014

  1. Slide 1: For the 3 months to 30 September 2014

    For the 3 months to 30 September 2014

  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 Q3 2014

    HEADLINES FOR Q3 2014 Sales above our expectations in third quarter: NET SALES at 3.752,7 ML TL (22%+ on Q3 2013) Improved EBITDA and profit margins: EBITDA at 176,5 ML TL (6%+ on Q3 2013) NET INCOME at 115,4 ML TL (-1,5%+ on Q3 2013) Like for Like sales up 11,0% Continued expansion – 62 new stores

  4. Slide 4: Quarterly Net Sales and Gross Profit

    QUARTERLY NET SALES AND GROSS PROFIT TL Million 4500 Net Sales 800 Gross Profit 4000 700 3.752,7 3500 3.561,0 600 3.395,1 3000 3.132,2 589,4 3.087,5 545,4 500 528,1 2500 493,4 487,5 400 2000 300 1500 200 1000 500 100 0 0 3Q13 4Q13 1Q14 2Q14 3Q14 Gross Margin 16,0% 15,6% 15,6% 15,3% 15,7% 4

  5. Slide 5: Quarterly EBITDA and EBIT

    QUARTERLY EBITDA and EBIT TL Million 200 EBITDA EBIT 176,5 175 166,1 160,1 153,1 150 137,9 141,0 141,3 128,1 123,8 125 107,2 100 75 50 25 0 3Q13 4Q13 1Q14 2Q14 3Q14 EBITDA 5,4% 4,9% 4,7% 4,0% 4,7% EBIT 4,5% 4,0% 3,8% 3,0% 3,8% EBITDA – EARNINGS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTIZATION EBI

  6. Slide 6: Quarterly Net Income

    QUARTERLY NET INCOME TL Million Net Income 117,2 120 115,4 105,7 107,8 100 89,7 80 60 40 20 0 3Q13 4Q13 1Q14 2Q14 3Q14 Net income 3,8% 3,4% 3,2% 2,5% 3,1% margin 6

  7. Slide 7: Like for Like Sales Increase YTD – September 2014

    LIKE FOR LIKE SALES INCREASE Quarterly YTD – September 2014 2013 - 2014 - 2013 Q3 2014 Q3 INCREASE INCREASE 9 Months 9 Months Like For Like Like For Like 2.722,5 3.022,8 11,0% 7.904,2 8.882,3 12,4% Sales (Mil TL) Sales (Mil TL) Like For Like Like For Like 11,75 12,91 9,8% 11,18 12,35 Basket (TL) Bas

  8. Slide 8: Private Label Sales Continue to Grow

    PRIVATE LABEL SALES CONTINUE TO GROW YTD 2013 YTD 2014 BRANDED BRANDED 20,7% PRIVATE PRIVATE 21,6% LABEL LABEL 67,1% 68,7% EXCLUSIVE EXCLUSIVE 5,6% 5,8% SPOT SPOT 5,0% 5,5% 8

  9. Slide 9: Low-Capex Business Model

    LOW-CAPEX BUSINESS MODEL TL Million % of Net Sales 160 Quarterly CAPEX 7% % of Net Sales 140 145,6 6% 120 5% 100 95,2 4% 4,3% 80 3% 60 58,9 59,8 2,7% 58,4 2% 40 1,9% 1,9% 1,6% 20 1% 0 0% 3Q13 4Q13 1Q14 2Q14 3Q14 9

  10. Slide 10: Store Growth Continues

    STORE GROWTH CONTINUES Number of Stores 4500 Stores in Turkey 4.344 4.406 4000 4.159 4.000 3.922 3500 3000 2500 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 10

  11. Slide 11: BIM Morocco Update

    BIM MOROCCO UPDATE 30.9.2013 31.12.2013 31.3.2014 30.6.2014 30.9.2014 No. of Stores 150 164 180 195 208 13 new stores in Q3 2014 and we have 208 to date Expecting to be cash generating by the end of 2015 Target for 2014 is around 70 new stores by the end of this year 11

  12. Slide 12: BIM Egypt Update

    BIM EGYPT UPDATE BIM Stores LLC in Egypt is progressing successfully In Q3 we opened 8 new stores and to date we have 67 stores Our target for 2014 is 50 stores and reach 85 by the end of the year 12

  13. Slide 13: 13

    13

  14. Slide 14: 14

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  15. Slide 15: IFRS Income Statement

    IFRS INCOME STATEMENT 3 months ended 30 September YTD-9 months ended 30 Sept TL million 2013 2014 2013 2014 Net Sales 3.087,5 3.752,7 8.716,6 10.708,8 (COGS) (2.594,1) (3.163,3) (7.346,8) (9.045,9) Gross Profit 493,4 589,4 1.369,8 1.662,9 Total SG&A (327,3) (412,9) (927,0) (1.185,3) EBITDA 166,1 176

  16. Slide 16: IFRS Balance Sheet

    IFRS BALANCE SHEET As of 30 September TL million Q3 2013 Q4 2014 Intangible assets 3,3 4,7 Tangible assets 944,0 1.166,9 Financial Investments (Long Term) 12,6 157,5 Other non-current assets 21,4 22,0 Total non-current assets 981,3 1.351,1 Trades receivable 322,6 431,2 Inventories 630,5 874,1 Prepay

  17. Slide 17: IFRS Cash Flow

    IFRS CASH FLOW 3 months ended 30 September YTD – 9 months ended 30 September TL million 2013 2014 2013 2014 Net Income 117,2 115,4 307,2 312,9 D&A 28,2 35,2 81,5 101,0 Other non-cash items (0,2) (3,5) (13,7) (15,9) Funds from operations 145,2 147,1 375,0 398,0 Change in net working capital 61,9 (129

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