Migros Ticaret A.s. · BIST:MGROS
Migros Ticaret A.s — FY2013 Earnings Presentation
22 slides from Migros Ticaret A.s's earnings presentation, 2014
Slide 1: Migros Ticaret A.Ş. 2013 Financial Results
Migros Ticaret A.Ş. 2013 Financial Results ---------------------------- Ortakoy Store, new Migros concept
Slide 2: Disclaimer Statement
Disclaimer Statement Migros Ticaret A.Ş. (the “Company”) has prepared this presentation for the sole purpose of providing information about its business, operations and financial results. The information in this presentation is subject to updating, revision and amendment. The information in this pre
Slide 3: Contents
CONTENTS Market Sales Evolution Expansion Operations Overview Ortakoy Migros Store, new concept Financial Key Financial Overview Metrics Guidance Financials & Format Summary Kanyon Macrocenter 2
Slide 4: Sales in 2013
Sales in 2013 Consolidated sales reached TL 7,127 million in 2013 corresponding to a calendar adjusted yearly growth rate of 10.2%*. The Company continued to gain market share in 2013. Quarterly Sales (TL million) Sales (TL million) Constructi 1,815 Constructi 7,127 1,650 on 6,467* on 4Q 2012 4Q
Slide 5: Undisputed leadership position in the supermarket format
Undisputed leadership position in the supermarket format Leading market share in FMCG 16 Migros Market Share (%) 14.2% 13.6% Migros gained 60 bps market share, now accounting 13.4% 12 14.2% of FMCG sales in the organized sector in Turkey 8 5.4% 5.4% 5.4% 4 0 2011 2012 2013 In total FMCG market In
Slide 6: Expansion
Expansion Domestic Sales Area Split by Format –2013 165 new stores, including 154 supermarkets, 3 hypermarkets and 8 Ramstores (7 in Macedonia and 1 in Kazakhstan) have been added to the store network in 2013 (166 new stores in 2012) 23 new store openings in 4Q2013 Total number of stores reach
Slide 7: Operations Overview / Key Highlights
Operations Overview / Key Highlights Core Business: Mid/Large Supermarkets Supermarket: Well positioned in accelerating trading up New Migros concept has Strong growth already been implemented with future in 20 mid/large stores in potential 2013. Accelerated store Fresh categories as the cen
Slide 8: Migros Jet Proximity Stores
Migros Jet Proximity Stores Strong growth potential Store size between 100-300 sqm Year-end target is exceeded by 19 stores, reaching 144 as of 2013. Easy to penetrate in big cities deeply and an opportunity to enter untapped towns. Already reached 21 cities. Around 3,000 SKUs ─ Consistent E
Slide 9: Digital, Online & Mobile
Digital, Online & Mobile Online business Mobile retail management Turkey’s first and leading e-commerce web site in food retail All stores and all DCs are integrated to mobile reporting. since 1997 In store, managerial time spent with customers improved 100 locations in 16 cities with 158 de
Slide 10: Financial Overview in 2013
Financial Overview in 2013 Solid Gross Profit Generation Solid EBITDA Generation In 4Q 2013, EBITDA rose by 15.4% y-o-y to TL 127 million and the Company Gross profit increased by 12.8% y-o-y delivered 7.0% EBITDA margin. to TL 494 million with a margin of In 4Q 2013, EBITDAR rose by 14.3% y-o
Slide 11: Key Financial Metrics
Key Financial Metrics Sustainable Sales Growth Sustainable EBITDA generation Sales EBITDA (*): Sales without divested operations Strategy Pillars (*): EBITDA without divested operations Improved Negative Cash Net Debt/EBITDA Conversion**** Working Capital Net Debt / EBITDA (*): including divested op
Slide 12: Performance Summary 2013
Performance Summary 2013 Migros sustained double digit operationally profitable top-line growth thanks to the effectiveness of its strategies in the last three years. Performance Performance vs Indicator 2012A Target 2013A Guidance Expansion Program (Number of NEW Stores) 166 100-150 165 Top-Line
Slide 13: Guidance 2014 and Medium Term
Guidance 2014 and Medium Term .Sales growth : Double digit sales growth EBITDA margin : Full year EBITDA margin range 6.0% – 6.5% .Expansion target : 100-150 new supermarkets and 2-3 hypermarkets per year Present cities Cities not covered 12
Slide 14: Financials & Format Summary
Financials & Format Summary - Financials - Operations
Slide 15: Summary of Income Statement – 2013
SUMMARY OF INCOME STATEMENT – 2013 IFRS Consolidated Income Statement Summary (TL Million) 2013 2012 Net Sales 7,126.9 6,482.4 Cost of sales -5,232.2 -4,777.8 Gross Profit 1,894.7 1,704.6 Operating Expenses -1,603.3 -1,435.0 Other Operating Income / (Expense) -55.4 -72.1 Operating Profit 236.0 197.6
Slide 16: Summary of Balance Sheet – 2013
SUMMARY OF BALANCE SHEET – 2013 IFRS Consolidated Balance Sheet Summary (TL Million) 2013 2012 Current Assets 1,980.7 1,908.6 Non-current Assets 3,815.9 3,715.8 Total Assets 5,796.6 5,624.3 Current Liabilities 2,360.7 1,875.1 Non-current Liabilities 2,605.7 2,487.1 Total Liabilities 4,966.4 4,362.3
Slide 17: Migros Supermarkets
Migros Supermarkets Home of Pleasant Shopping Number of stores: 722* ─ 150-3,000 sqm / 3,000 – 18,000 SKUs ─ Rich product variety in fresh food ─ Wide branded assortment of FMCG products ─ Modern, fashionable, complementary and seasonal non- food selection CRM applications for different customer
Slide 18: Tansaş Supermarkets
Tansaş Supermarkets Regional leader in the west coast of Turkey Number of stores: 199 150-1,500 sqm / 3,000 – 15,000 SKUs ─ A strong regional brand & competitive pricing strategy ─ Diverse fresh food emphasis on meat and F&V ─ Friendly service / warm and localized layout Penetration: 6 cities 17
Slide 19: Macrocenter Supermarkets
Macrocenter Supermarkets Gourmet shopping and exclusive Number of stores: 23 400 - 2,500 sqm / 10,000 SKUs ─ Upscale gourmet store serving a niche, selective customer segment with strong brand loyalty ─ Elegant design and store layout ─ Wide product range in delicatessen, appetizers and spirits.
Slide 20: 5M Hypermarkets
5M Hypermarkets Low prices and wide assortment Number of stores: 21 4,000-7,000 sqm / 25,000 SKUs ─ Wide product range; rich FMCG and non-food assortment ─ N/F product portfolio focusing on kids & women; especially kitchenware & household textile, toys and cosmetics ─ Competitive pricing 17 hy
Slide 21: Wholesale & Food Service
Wholesale & Food Service Increasing Importance of Horeca Penetration Currently operating in 7 regions through dedicated sales team. Two Cash & Carry stores in Ankara and Bodrum Dedicated warehouses and customer delivery Penetration: 7 regions 20
Slide 22: International Operations
International Operations Kazakhstan Macedonia Number of stores: 25, including 4 hypermarkets, 21 Number of supermarkets: 14 supermarkets. Owns 1 shopping mall in Almaty Owns 1 shopping mall in Skopje Total sales area of 49,841 sqm ─ Present in Almaty, Astana, Shimkent, Karaganda, Total sal