Slide 1: Koç Holding 2Q15 Earnings Presentation
Koç Holding 2Q15 Earnings Presentation 14 August 2015
Slide 2: 2Q15 Koç Group
2Q15 Koç Group www.koc.com.tr 2
Slide 3: Energy – Koç Group Companies
Energy – Koç Group Companies As of the end of Tüpraş Capacity Utilizations & White Product Yields Tüpraş&Med Complex Margins – US$/Barrel June, RUP was fully operational Capacity Utilizations – % White Product Yields – % 94.1 Tüpraş Clean Inventory Tüpraş Gross Med Complex 72.4 72.7 Gross Ref. Margi
Slide 4: Automotive – Ford Otosan & Tofaş vs Sector
Automotive – Ford Otosan & Tofaş vs Sector Sales Units, Domestic Market * Sales Development, Domestic Market * – Units, Monthly Koç Market 17% 14% 52% 57% 18% 15% 25% 24% Share 120000 +49% +68% 500000 +75% +38% +41% 100000 450000 +45% 400000 80000 350000 +57% 300000 250000 60000 200000 +71% +7% 1500
Slide 5: Consumer Durables – Arçelik vs Sector
Consumer Durables – Arçelik vs Sector Sales Units, Domestic Market * Sales Development, Domestic Market * – Units, Monthly +10% 3500000 +6% 700000 +28% +7% 3000000 +16% 2500000 600000 +3% 2000000 500000 +1% 1500000 +6% +15% +6% 400000 1000000 +17% 300000 500000 200000 0 Refrigerator Washer & 100000
Slide 6: Finance – Yapı Kredi Bank
Finance – Yapı Kredi Bank +358k customers Ongoing volume growth and remix Solid commercial performance acquired in 1H15 Ytd ∆ NIM 2 Fees (TL mn) Cost / Income YKB Private State Sector Market Ytd ∆ Banks Banks Share (bps) +18% 1,320 +50bps 3.6% 1,115 Loans 14% 11% 16% 13% 10.4% +12 3.6% 49% 48% 632 6
Slide 7: 2Q15 Financial Results
2Q15 Financial Results www.koc.com.tr 7
Slide 8: Group's Overall Financial Performance
Group’s Overall Financial Performance Consumer 1H15 Change Over TL million Energy Automotive Finance Other Durables Total 1H14 Total Combined Revenues * 29,443 16,257 6,510 9,973 4,618 66,802 7% Combined Gross Profit 2,343 1,987 2,001 4,295 730 11,358 30% Combined Operating Profit ** 1,503 1,071 470
Slide 9: Combined Revenues
Combined Revenues Combined Revenues – TLmn Segmental Combined Revenues Breakdown – % +7% 66,802 Automotive 62,266 24% Energy Durables 44% 10% Finance 1H14 1H15 15% Other 7% Segment Contribution to Combined Revenues – TLmn -9% 32,220 29,443 +36% 16,257 +5% +25% +16% 11,916 9,973 6,510 7,967 6,175 4,6
Slide 10: Combined Operating Profit
Combined Operating Profit * Combined Operating Profit – TLmn Segmental Combined Operating Profit Breakdown – % +52% Energy 4,475 34% Automotive 2,954 24% Other -1% Durables 10% 1H14 1H15 Finance 33% Segment Contribution to Combined Operating Profit – TLmn +14% +370% +30% 1,503 1,463 1,285 1,071 826
Slide 11: Combined Net Income
Combined Net Income Combined Net Income – TLmn Segmental Combined Net Income Breakdown – % +6% 3,592 3,382 Automotive Energy 26% 3,142* +14% 27% Other 1% Durables 13% 1H14 1H15 Finance 33% Segment Contribution to Combined Net Income – TLmn +16% +1% +13% 1,181 1,021 963 976 931 824 +68% -86% 462 274
Slide 12: Consolidated Net Income
Consolidated Net Income Consolidated Net Income – TLmn Segmental Consolidated Net Income Breakdown – % 1,435 -8% 1,322 Energy Automotive +11% 29% 28% 1,195* Other -0.3% Durables 14% 1H14 1H15 Finance 30% Segment Contribution to Consolidated Net Income – TLmn +15% -1% +11% 382 379 394 369 333 344 269
Slide 13: Combined Exports & International Sales
Combined Exports & International Sales Combined Exports – US$mn Combined International Sales – US$mn 7,328 -9% 8,895 -13% 6,694 7,750 1H14 1H15 1H14 1H15 www.koc.com.tr 13
Slide 14: Combined Investments
Combined Investments Combined Investments – TLmn Segmental Investments Breakdown – % +8% 3,068 Automotive 2,842 45% Energy Durables 36% 7% 1H14 1H15 Other Finance 2% 10% www.koc.com.tr 14
Slide 15: Koç Holding Net Cash Position
Koç Holding Net Cash Position Koç Holding Stand-Alone 30.06.2015 Net Cash Position Total Debt: ~US$ 0.75 bn Total Cash: ~US$ 1.44 bn Net Cash: ~US$ 685mn Consolidated Net Debt / Cash Excl. Finance 1Q15 1H15 ~US$ -4.0bn ~US$ -4.4bn www.koc.com.tr 15
Slide 16: FX Position
FX Position Koç Holding Stand-Alone FX Position 1Q15 1H15 US$ + 70mn US$ +65mn Koç Holding Consolidated FX Position FX Position Weighted by Effective Ownership 1Q15 1H15 1Q15 1H15 US$ -3.0bn US$ -2.8bn* US$ -1.2bn US$ -1.2bn * The natural hedging mechanisms due to FX linked pricing of Tüpraş invento
Slide 17: Consolidated Main Financial Indicators
Consolidated Main Financial Indicators € Mn* US$ Mn* TL Mn TL Mn Change Change 30.Jun.2015 30.Jun.2015 30.Jun.2015 30.Jun.2014 %, TL %, US$ Revenues 11,243 12,544 32,129 32,188 q -0.2 q -16 Gross Profit 1,665 1,857 4,757 3,385 p 41 p 19 Operating Profit 871 972 2,490 1,652 p 51 p 27 Profit Before Ta
Slide 18: Q&A
Q&A www.koc.com.tr 18
Slide 19: Disclaimer
Disclaimer This presentation does contain forward-looking statements that reflect the Company management’s current views with respect to certain future events based on the base-case assumptions. Although it is believed that the expectations reflected in these statements are reasonable, they may be a
Slide 20: Shareholder Structures as of June 2015
Shareholder Structures as of June 2015 Koç Holding Koç Family: 68.51% Free Float: 22.24% Vehbi Koç Foundation: 7.26% Koç Pension Fund: 1.99% Consumer Energy Automotive Finance Other Durables Ford Otosan Arçelik Tat Gıda Tüpraş KH share: 38.46% Koç Financial Services SPV share: 51.00% KH share: 40.51
Slide 21: For Further Questions, Please Contact
For Further Questions, Please Contact : investorrelations@koc.com.tr www.koc.com.tr Funda Güngör Akpınar, Coordinator Investor Relations fundag@koc.com.tr +90 216 531 0535 Gizem Bodur, Manager Investor Relations gizemb@koc.com.tr +90 216 531 0533 Neslihan Aycıl, Manager Investor Relations neslihana@