Dogus Otomotiv Servis ve Ticaret Anonim Sirketi · BIST:DOAS
Dogus Otomotiv Servis ve Ticaret Anonim Sirketi — Doğuş Otomotiv Servis ve Ticaret A.Ş. — Q3 2017 Earnings Presentation
24 slides from Dogus Otomotiv Servis ve Ticaret Anonim Sirketi's earnings presentation, December 2017
Slide 1: Investor Relations Presentation Q3 2017 Results
Investor Relations Presentation Q3 2017 Results Updated: December 2017 Investor Relations Presentation - Q3 2017 | 1
Slide 2: Agenda
Agenda Doğuş Otomotiv / Value Chain 2017 Macroeconomic Outlook Automotive Market Financial Performance Investor Relations Presentation - Q3 2017 | 1
Slide 3: Presence in Every Link of The Automotive Value Chain
Doğuş Otomotiv / Value Chain 2017 Presence in Every Link of The Automotive Value Chain Automotive Core Business Related Ancillary Business Import and Replacement Used Vehicle Other Retail Parts and After Finance Distribution Sales Investments Sales Services Spare Parts&Logistics Quick Fix to all Bra
Slide 4: Macroeconomic Outlook
Macroeconomic Outlook Investor Relations Presentation - Q3 2017 | 3
Slide 5: Macroeconomic Indicators
Macroeconomic Indicators YoY Inflation (%) Annual CPI Annual PPI Nominal Exchange Rates US$/TRY EUR/TRY Basket (0.5US$+0.5EUR) 25.00 4.90 4.60 4.67 20.00 4.30 4.30 17.30% 4.00 3.94 3.70 13.67% 15.00 12.98% 12.98% 3.40 11.14% 3.10 2.80 10.00 2.50 2.20 1.90 5.00 1.60 1.30 0.00 1.00 -5.00 11-11 02-12 0
Slide 6: Population & Demography
Population & Demography Population Statistics (’000) Age Demography Young population and fiscal 91,393 reforms push the country 88,428 13% Above 79,815 84,247 60 15% towards stable and sustainable growth. 32% 35-59 34% Population is increasing on an 32% average 1.4% each year since 15-34 2007. 30% 2
Slide 7: Automotive Market
Automotive Market Investor Relations Presentation - Q3 2017 | 6
Slide 8: World car market vs. Volkswagen Group deliveries
Development world car market vs. Volkswagen Group Car Deliveries to Customers (1) (Growth y-o-y in deliveries to customers, January to September 2017 vs. 2016) Car Market VW Group North America Western Europe Central & Eastern Europe South America Rest of the World Asia Pacific 21.6% 12.2% 12.1% 12.
Slide 9: Volkswagen Group Deliveries to Customers by Brands
Volkswagen Group DELIVERIES TO CUSTOMERS BY BRANDS (‘000 units) Jan-Sep 2016 Jan-Sep 2017 Change 2.6% (1) Passenger Vehicles Commercial Vehicles 7,807 7,609 2.7% 4,375 4,491 -2.0% 3.6% 13.4% 4.9% 4.3% 8.4% 8.9% 1,409 1,381 841 871 313 355 178 351 368 186 74 80 59 64 VOLKSWAGEN VW PV AUDI SKODA SEAT
Slide 10: DOAS Wholesales Performance - 2016
DOAS Wholesales Performance - 2016 12M2015 12M2016 Change 12M2015 12M2016 Change 4% DOAS TOTAL 205,593 213,185 4% VW PV 106,677 104,410 -2% VW LCV 33,411 32,733 -2% AUDI 21,100 22,105 5% -2% SKODA 22,435 30,004 34% SEAT 17,212 20,976 22% SCANIA 3,291 2,050 -38% -2% KRONE 158 2 -99% 34% 22% 5% -38% -
Slide 11: DOAS Wholesales Performance - November 2017
DOAS Wholesales Performance - November 2017 11M2016 11M2017 Change 11M2016 11M2017 Change -16% DOAS TOTAL 192,150 161,968 -16% VW PV 93,672 79,876 -15% VW LCV 30,140 25,515 -15% -15% AUDI 19,698 18,478 -6% SKODA 26,164 21,002 -20% SEAT 19,811 15,068 -24% -15% SCANIA 1,869 1,403 -25% -20% -24% -6% -2
Slide 12: Wholesale Market and DOAS Monthly Sales
Wholesale Market Monthly Sales 2015 2016 2017 -13% -11% 12% 142,245 127,014 98,172 96,475 99,639 93,765 90,750 90,856 108,005 128,581 83,025 87,059 93,342 73,015 87,444 85,555 73,262 89,044 64,348 88,699 84,312 83,679 84,713 72,357 36,953 62,739 72,069 78,010 77,553 68,580 67,936 61,477 33,674 49,70
Slide 13: Market Review - Wholesale - 2016
Market Review - Wholesale - 2016 MARKET DOAS December 2015 December 2016 Change December 2015 December 2016 Change 1% 4% 5% 6% 1,005,156 1,012,256 213,175 205,028 765,467 726,477 178,392 168,326 -7% -2% -4% 5% -45% -38% 245,027 228,446 33,411 32,733 94,829 91,304 22,002 23,002 33,652 18,343 3,291 2,
Slide 14: Market Review - Wholesale - November 2017
Market Review - Wholesale - November 2017 MARKET DOAS Nov 2016 Nov 2017 Change Nov 2016 Nov 2017 Change -4% -16% -6% -16% 883,675 848,998 192,012 669,153 631,853 161,890 160,141 2% 135,050 -15% -23% -7% -11% -23% 198,143 202,618 30,140 25,515 85,055 65,660 20,494 19,104 16,379 14,527 1,731 1,325 Tot
Slide 15: Market Share - Retail - 2016
Market Share - Retail - 2016 2014 YEAR END/ 2015 YEAR END/ PV TOP 5 DECEMBER 16 2014 2015 2016 RETAIL MARKET 2015 YEAR END 2016 YEAR END 23.0% YEAR END YEAR END YEAR END CHANGE CHANGE 19.7% PASSENGER VEHICLE % DOAS 22.2 23.1 23.0 0.9 -0.1 RENAULT 20.1 19.2 19.7 -0.9 0.5 7.3% 7.3% 6.5% OPEL 6.7 6.5 7
Slide 16: Market Share - Retail - November 2017
Market Share - Retail - November 2017 NOV 2017/ NOV 2017/ PV TOP 5 NOVEMBER 17 2015 2016 RETAIL MARKET NOV 2016 NOV 2017 2016 YEAR END NOV 2016 21.3% 21.1% YEAR END YEAR END CHANGE CHANGE PASSENGER VEHICLE % RENAULT 19.2 19.7 19.1 21.3 1.6 2.2 DOGUS OTOMOTİV 23.1 23.0 23.3 21.1 -1.9 -2.2 8.9% 6.9% 6
Slide 17: Financial Performance
Financial Performance Investor Relations Presentation - Q3 2017 | 16
Slide 18: Consolidated Income Statement
Consolidated Income Statement (TL mn, CMB) 30-Sep-17 30-Sep-16 Change (%) Revenue 8,503 7,961 7% Gross Profit 887 810 10% Operational Expenses -564 -547 3% Selling and Marketing Expenses -231 -223 3% General Administrative Expenses -298 -288 3% Warranty Expenses, net -60 -61 -1% Other Operating Expe
Slide 19: Consolidated Income Statement
Consolidated Income Statement Vertical Vertical Change Impacts on revenue and direct cost of (TL '000) 30 Sep 17 30 Sep 16 Analysis Analysis (%) revenue: -- Increase in EUR/TL rate. Revenue 8,502,717 7,961,137 7% -- Decrease in yoy sales volume. Direct cost of revenue -7,615,702 -90% -7,151,472 -90%
Slide 20: Financing Costs
Financing Costs (TL mn, CMB) 30 Sep 2017 30 Sep 2016 Change (%) Financing Costs -249.75 -196.01 27% Finance expenses, net -249.66 -195.67 28% Interest expense on borrowings -240.62 -191.30 26% Commission expenses on letters of guarantee -6.14 -2.55 141% Other financial expenses -2.89 -1.82 59% Forei
Slide 21: Consolidated Balance Sheet
Consolidated Balance Sheet (TL ’000) 30 Sep 17 31 Dec 16 Inventories: • Number of vehicles increased from 20,217 ASSETS 5,040,042 4,851,854 units to 20,947 units as of 30.09.2017. Cash and cash equivalents 74,872 89,098 Trade receivables 1,045,234 1,128,610 Inventories 1,827,825 1,650,960 Tangible a
Slide 22: Consolidated Balance Sheet
Consolidated Balance Sheet (Balance Sheet mn,TL) 30 Sep 17 31 Dec 16 Change (%) Total Assets 5,040 4,852 4% Total Equity 1,253 1,119 12% Net working capital -641 -632 1% Net cash position -2,536 -2,707 6% CAPEX 272 208 30% Receivable Turnover (day) 34 37 -8% Inventory Turnover (day) 66 56 18% Payabl
Slide 23: Stock Price History
Stock Price History 1.60 BIST 100 Relative DOAS TL 20.00 18.00 1.40 16.00 1.20 14.00 1.00 12.00 0.80 10.00 8.00 0.60 6.00 0.40 4.00 0.20 2.00 0.00 0.00 N M N M N M N M N M N M N M N M N M N M N ov ov ov ov ov ov ov ov ov ov ov ay ay ay ay ay ay ay ay ay ay 07 08 09 10 11 12 13 14 15 16 17 07 08 09 1
Slide 24: Disclaimer
Disclaimer Doğuş Otomotiv Servis ve Ticaret A.Ş. (the “DOAS”) has prepared this presentation documents (the “Document”) consisting of documents and appendixes thereto for the sole purposes of providing information and projections and statements relating to the DOAS (the “Information”). DOAS cannot g
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