Is Finansal Kiralama A.s. · BIST:ISFIN

Is Finansal Kiralama A.s — Investor Presentation (March 2011)

29 slides from Is Finansal Kiralama A.s's investor presentation, Mar 31, 2011

  1. Slide 1: Investor Presentation

    Investor Presentation March 31, 2011

  2. Slide 2: Leasing Sector in Turkey

    Leasing Sector in Turkey

  3. Slide 3: Advantages of Leasing

    ADVANTAGES OF LEASING  Expertise on SMEs, consultancy and know-how support in addition to funding.  Fast credit approvals (leased asset ownership), flexible payment plans.  FX borrowing option (Bank FX loans have some restrictions)  Banks can fund up to %50 of commercial real estate but there is

  4. Slide 4: Turnover

    TURNOVER %56 Leasing penetration is still at low levels 8203 compared to EU average of 15% and North America average of 18%. Million USD %24 Penetration * -%35 %47 5271 5301 12% 4500 10% %34 4263 8% %63 %45 6% 3182 2900 -%59 4% %83 2165 2198 2% 1327 0% 2000 2001 2002 2003 2004 2005 2006 2007 2008 20

  5. Slide 5: Market Shares, New Leasing Transactions

    MARKET SHARES, New Leasing Transactions 28,3% 2009 2010 2011 Q1 26,6% 27,4% 19,2% 16,1% 15,4% 15,5% 14,9% 14,6% 14,7% 12,6% 9,7% 9,7% 8,7% 9,0% 9,0% 7,9% 7,0% 7,2% 7,2% 6,5% 5,6% 3,3% 3,7% YAPI KREDİ GARANTİ FİNANS İŞ AK DENİZ TEB+FORTIS OTHERS Source: Fider 5

  6. Slide 6: Company Overview

    Company Overview

  7. Slide 7: Milestones & Ownership

    MILESTONES & OWNERSHIP • Financial leasing law enacted in 1985. NEMTAŞ • İş Leasing established in 1988 by 0,90% İş Bank, IFC and Societe İŞ FREE BANKASI Generale. 27,79% FLOAT • IFC and SocGen transferred 42,67% leasing know-how and expertise, İş Bank branches provided access to the market. TSKB •

  8. Slide 8: Participations

    PARTICIPATIONS Total Share Equity Participations Capital (TL) İş Leasing Share % İş Yatırım Menkul Değerler A.Ş. 200.000.000 4.864.851 2,43 Camiş Menkul Değerler A.Ş. 4.696.000 2.471 0,05 Subsidaires İş Factoring Finansman Hiz. A.Ş. 16.000.000 12.517.000 78,23 İş Yatırım (ISM EN) is a listed c ompan

  9. Slide 9: Organization Chart

    ORGANIZATION CHART INTERNAL AUDIT BOARD OF DIRECTORS GENERAL MANAGER AGM AGM AGM FINANCE MARKETING CREDIT ACCOUNTING OPERATIONS RISK MONITORING IT LEGAL DEPARTMENT HUMAN RESOURCES 9

  10. Slide 10: Lease Portfolio

    Lease Portfolio

  11. Slide 11: Turnover & Market Share

    TURNOVER & MARKET SHARE 445 12,6 61 349 359 21 35 286 2 9,0 174 7,9 384 314 338 27 139 6,9 284 0 6,6 5,4 146 139 2006 2007 2008 2009 2010 2011 Q1 2006 2007 2008 2009 2010 2011 Q1 Non-group turnover İş group turnover Total turnover Percentage Million USD 11

  12. Slide 12: Sales Channels

    SALES CHANNELS Total number of customers in CRM database: 50.922 No.of DIRECT Customers SALES that have 27,7% Outstanding SUPPLIER 7,1% Contract İŞ GROUP 4539 4,5% İŞBANK 46608 RECURRING BRANCHES CUSTOMERS 35,3% 25,4% İşbank has 1159 branches 12

  13. Slide 13: Sectoral Distribution, %

    SECTORAL DISTRIBUTION , % 18,08 2010 2011 Q1 16,1 11,2 11,65 10,8 10,3 9,61 9,07 9,15 9,0 7,92 6,9 6,0 5,99 4,6 4,8 4,19 3,93 4,5 4,78 4,2 3,52 3,3 3,42 3,2 3,72 2,9 2,47 2,4 2,5 13

  14. Slide 14: Asset Distribution, %

    ASSET DISTRIBUTION , % 25,6 23,97 23,39 2010 2011 Q1 18,8 14,81 13,5 13,8 12,65 7,1 6,03 4,6 3,9 3,6 3,31 3,5 3,21 3,8 3,8 3,1 2,65 2,7 2,28 14

  15. Slide 15: Portfolio Development

    1.200 000 TL PORTFOLIO DEVELOPMENT 1.100 1.000 900 800 TOP 30 CUSTOMERS REMAINING 700 600 500 400 300 200 42% 100 - 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Q1 10000 8000 Outstanding Contracts 6000 4000 2000 0 15

  16. Slide 16: Geographical Distribution

    GEOGRAPHICAL DISTRIBUTION KOCAELİ # OTHER 2% ANKARA OFFICES STAFF 20% 16% Head Office 4 AYDIN BURSA 1% Istanbul Europe 5 2% MUĞLA Istanbul Asia 4 İZMİR 3% 4% Ankara Rep. Office 6 ANTEP 2% ANTALYA Antep ” 4 1% Bursa ” 2 İzmir ” 4 Antalya ” 3 TOTAL SALES STAFF 32 İSTANBUL 49% TOTAL HEADCOUNT 95 16

  17. Slide 17: Currency Distribution

    CURRENCY DISTRIBUTION TL 17% 2011 Q1 USD 41% EUR 42% TL 20% 2010 USD 37% EUR 43% TL 21% 2009 USD 35% EUR 44% TL 000 2010 2011 Q1 Net FX position (Long) 526 11552 Net FX position / Equity 0,1% 2,35% 17

  18. Slide 18: Maturity Distribution

    MATURITY DISTRIBUTION 2010 average, months 2011 Q1 LEASE PORTFOLIO 32 BORROWINGS 25 26 26 19 15 19 13 9 8 0 0 USD EUR TL USD EUR TL 18

  19. Slide 19: Collaterals

    COLLATERALS* Leased asset, since legally possessed by the lessor, is a collateral. Depending on the lessee’s credit ratings and second hand value of the leased asset, additional collaterals might be demanded. Cash + LG + Pledge + Buyback 2% Mortgage 10% None 1% prom. Note+ Personal Guarantee 81% *İş

  20. Slide 20: Financial Performance

    Financial Performance

  21. Slide 21: Financial Highlights

    FINANCIAL HIGHLIGHTS TL Million 31 December 2010 31 March 2011 Change (%) Leasing Receivables, Net 936 1.096 17% Non Performing Receivables 89 87 -2% Provisions -45 -47 6% Total Assets 2.093 2.204 5% Financial Liabilities 1.587 1.683 6% Equity 476 491 3% INCOME STATEMENT Net Interest Income 83 19 -6

  22. Slide 22: Balance Sheet (consolidated)

    BALANCE SHEET (consolidated) 000 TL 2009 2010 2011/Q1 2009 2010 2011/Q1 CURRENT ASSETS CURRENT LIABILITIES Cash and cash equivalents 363.754 691.285 492.086 Short-term borrowings 893.554 1.416.398 1.512.925 Trading Securities (net) 139 4.364 11.483 Trade payables 12.524 14.480 9.394 Leasing Receivab

  23. Slide 23: Income Statement (consolidated)

    INCOME STATEMENT (consolidated) 000 TL 2009 % 2010 % 2011 Q1 % Interest income 97.986 10,9 81.488 9,2 21.780 8,6 Interest Expense (50.739) (5,2) (60.230) (4,6) (18.140) (4,4) Foreign currency gains/(losses) 1.666 912 1.038 48.913 5,5 22.170 2,5 4.677 1,8 Factoring Income 14.147 18.671 5.895 General

  24. Slide 24: NPL

    NPL Consolidated 2008 2009 2010 2011 Q1 Gross NPL /Total Receivables % 7,0 % 10,8 % 6,9 % 5,5 Net NPL / Net Receivables % 4,3 % 6,9 % 3,5 % 2,5 120.000 000 TL 000 TL LOSS RESERVE 100.000 80.000 2011 Opening (47.258) 60.000 151-240 Reversals 275 241-360 40.000 >360 New provisions (2.918) 20.000 Total

  25. Slide 25: Other Issues

    Other Issues

  26. Slide 26: Relative Share Performance

    RELATIVE SHARE PERFORMANCE ISE 100 (TL mn) 2010 ISFIN Net income 63.7 Book value 465 Mcap @1.39 410 P/BV 0.91 P/E 6.4 Outstanding Shares 295 mio Mcap @1.60 30/05/11 472 mio TL January-09 March-09 May-09 July-09 September-09 November-09 January-10 March-10 May-10 July-10 September-10 November-10 Janu

  27. Slide 27: Ratings

    RATINGS Foreign Currency Long-Term IDR BBB- Short-Term IDR F3 Outlook Positive Local Currency Long-Term IDR BBB- Short-Term IDR F3 Outlook Positive National Long-Term Rating AAA (tur) Outlook Stable Support Rating 2 27

  28. Slide 28: Agenda

    AGENDA  Increasing synergy with İşbank branches. By using the wide branch network of İşbank, reaching uncovered SME’s therefore smaller ticket sizes and higher spreads are targeted.  New regulatory changes expected.(probably after June11 elections). Sale and Lease back, Operating Lease, Lease of c

  29. Slide 29: Disclaimer

    DISCLAIMER The information in this document has been obtained by İş Finansal Kiralama A.Ş. (“İş Leasing”) from sources believed to be reliable, however, İş Leasing can not guarantee the accuracy, completeness, or correctness of such information. This document has been issued for information purposes

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