Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi · BIST:DOAS
Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi — Doğuş Otomotiv Servis ve Ticaret A.Ş. — FY2018 Earnings Presentation
19 slides from Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi's earnings presentation, Feb 15, 2019
Slide 1: 2018 Analyst Briefing Presentation
2018 ANALYST BRIEFING PRESENTATION Kerem Talih 15 February 2018
Slide 2: 2018 DOAS Developments
2018 DOAS DEVELOPMENTS Revenue decreased by 19%. Gross Profit margin increased from 9,8% to 12,2% EBITDA margin increased from 4,2% to 5,7%. OpEx/Sales was realized as 7,2% due to the decrease in revenues. The distributorship agreement between DOAS and Volkswagen AG has been renewed indefinitely bas
Slide 3: 2018 Doğuş Otomotiv Main Segment Sales Performance
2018 DOGUS OTOMOTIV MAIN SEGMENT SALES PERFORMANCE Retail RETAIL MARKET DOAS PERFORMANCE 2
Slide 4: Competition (Retail)
COMPETITION (Retail) RETAIL MARKET 2016 2017 2018 2016 /2017 2017 / 2018 VW PC ranked 2nd in the ∆ ∆ cumulative passenger vehicle market with 10,2% market share. PASSENGER CAR % RENAULT 19,7 21,5 21,2 1,9 -0,3 DOGUS OTOMOTİV 23,0 21,1 19,6 -1,9 -1,5 ŠKODA has increased its TOFAS 7,3 8,9 9,1 1,6 0,3
Slide 5: 2018 Passenger Vehicle Market (%)
2018 PASSENGER VEHICLE MARKET (%) Retail - PC market decreased by 33% yoy. - DOAS’ market share in the passenger vehicle market was realized as 19,6%. - Renault leads with a 21,2% market share in the PC market. - Segment information: VW PC 12M18 Golf A/HB 24,2% 1 Passat B/NB 44,7% 1 - Premium Segmen
Slide 6: 2018 Light Commercial Vehicle Market (%)
2018 LIGHT COMMERCIAL VEHICLE MARKET (%) Retail - Light Commerical Vehicle market decreased by 42% yoy. - DOAS maintained its 3rd position with 12,7% market share. - Leaders in the LCV market are Ford Otosan with 31,0% market share and Tofaş with 21,1% market share. - Segment information: VW LCV 12M
Slide 7: 2018 Doğuş Otomotiv Brand Sales Performance
2018 DOĞUŞ OTOMOTIV BRAND SALES PERFORMANCE WHOLESALE UNITS 12M17 12M18 Δ VW PC 91.343 45.388 -50% VW LCV 28.041 16.175 -42% AUDI 21.172 12.969 -39% SKODA 24.714 20.425 -17% SEAT 17.002 8.640 -49% SCANIA 1.697 1.177 -31% PORSCHE 700 481 -31% BENTLEY 16 10 -38% LAMBORGHINI 7 3 -57% DOAS TOTAL 184.692
Slide 8: Financial Performance
FINANCIAL PERFORMANCE Bentley Continental GT Convertible
Slide 9: Financial Performance (mn TL)
FINANCIAL PERFORMANCE (mn TL) Net Sales EBITDA Net Profit CapEx Total Assets Working Capital* * Comprised of cash and cash equivalents, trade receivables and inventory. 7
Slide 10: Margins %
MARGINS % Gross Profit Margin OpEx/Sales EBITDA Margin 10,5-11,5 % %8 Kons. Maks EBIT Margin Net Profit Margin Wholesale Market Share* * Includes PV, LCV and HCV sales. 8
Slide 11: Income Statement
INCOME STATEMENT TL’000 31.12.2018 31.12.2017 Δ 2018/ 2017 Gross Profit Margin was realized as 12,2% with decrease Revenue 10.688.489 13.220.361 -19% of 19% in revenue. Direct cost of revenue -9.387.395 -11.919.377 -21% Impacts on revenue and direct Gross profit 1.301.094 1.300.984 0% cost of revenu
Slide 12: Income from Associates
INCOME FROM ASSOCIATES TL’000 31.12.2018 31.12.2017 Δ 2018/ 2017 Associates vdf Group 8.140 36.403 -78% vdf -17.151 23.452 -173% vdf Servis 25.291 12.951 95% Doğuş Sigorta 1.678 1.413 19% Yüce Auto (Škoda) 9.307 16.527 -44% TÜVTÜRK N&S (Consolidated) 44.984 32.067 40% Meiller-Doğuş* 0 -1.751 -100% D
Slide 13: Balance Sheet
BALANCE SHEET TL’000 31.12.2018 31.12.2017 Δ Inventories: Number of vehicles decreased from ASSETS 4.798.662 5.166.882 -7% 12.972 units on 31.12.2017 to 8.484 units on Cash and cash 31.12.2018. 365.892 106.385 244% equivalents Financial Liabilities: Trade receivables 643.538 1.425.215 -55% Use of fi
Slide 14: Financing Costs
FINANCING COSTS Million TL 31.12.2018 31.12.2017 Δ 2018/ 2017 Financing Cost, net -493,741 -349,159 41% Finance expenses -497,080 -353,179 41% Interest expense on borrowings -466,577 -336,469 39% Commission expenses on letters -24,025 -8,845 172% of guarantee Other financial expenses -6,478 -7,865 -
Slide 15: Financial Performance
FINANCIAL PERFORMANCE Million TL 31.12.2018 31.12.2017 Δ Working capital 2.375 2.957 -20% Net Cash Position -2.403 -2.928 -18% Receivable Turnover (day) 22 39 -44% Inventory Turnover (day) 53 44 22% Payable Turnover (day) 22 19 11% Million TL 31.12.2018 31.12.2017 Δ CAPEX 179 315 -43% ROA 2,8% 3,6%
Slide 16: Key Material Disclosures in 2018
KEY MATERIAL DISCLOSURES IN 2018 01.10.2018 – Update of the agreement between our Company and Volkswagen AG The distributorship agreement between our Company and Volkswagen AG has been renewed indefinitely as an extension of the global change and development strategy launched by Volkswagen Group bas
Slide 17: 2019 Expectations
2019 EXPECTATIONS Mobility Digitalization Service Areas Operational Efficiency and Optimum Profitability Cautious Expenditure Management OEM Strategy: Maintain represented brands’ competitive position. Total Automotive Market Investment Expenditure (PC+LCV+HCV) TRY 60-70 million 230-240,000 units ●
Slide 18: Thank You – Q & A
THANK YOU – Q & A Scania Engines Boat Porsche 70th Anniversary
Slide 19: Uyarı
Uyarı Dokümanlar ve eklerden oluşan bu sunumda (“Döküman”) yer alan tüm bilgiler, Doğuş Otomotiv Servis ve Ticaret A.Ş. (DOAŞ) hakkında bilgi, öngörü ve ifadeleri sunmak amacıyla DOAŞ tarafından hazırlanmıştır. Bu sunumdaki bilgilerin dogruluğu, yeterliliği ve eksiksizliği teminat edilmemiştir ve bu
Doğuş Otomotiv Servis ve Ticaret A.Ş. — FY2018 Earnings Presentation on 6ix