Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi · BIST:DOAS
Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi — Doğuş Otomotiv — Q4 2019 Earnings Presentation
19 slides from Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi's earnings presentation, Mar 2, 2020
Slide 1: 4Q 2019 Analyst Briefing Presentation
4Q 2019 ANALYST BRIEFING PRESENTATION Kerem Talih 2 March 2020 1 Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır.
Slide 2: 4Q 2019 Doğuş Otomotiv Main Segment Sales: Retail
4Q 2019 DOGUS OTOMOTIV MAIN SEGMENT SALES Retail RETAIL MARKET DOAS PERFORMANCE Source: Automotive Distributors Association, TAID - Heavy Commercial Vehicles Association DOAS performance includes Skoda sales. 2 Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak
Slide 3: Competition (Retail)
COMPETITION (Retail) YTD Dec 18 / Dec 19 Dec 18 / VW PC ranked 3rd in the RETAIL MARKET 2017 2018 2019 Dec 19 cumulative passenger vehicle ∆ ∆ market with 10,0% market PASSENGER CAR % RENAULT GRUP 25,9 26,3 23,3 -3,0 -3,0 share. DOGUS OTOMOTİV 21,1 19,6 18,2 -1,4 -1,4 TOFAS 8,9 9,1 15,4 6,3 6,3 TOYO
Slide 4: 4Q 2019 Passenger Vehicle Market (%)
4Q 2019 PASSENGER VEHICLE MARKET (%) Retail - PC market decreased by 22,9% yoy. - DOAS’ market share in the passenger vehicle market was realized as 18,2%. - Renault leads with a 23,3% market share in the PC market. - Segment ranking (Top 10): VW PC 12M19 Golf A/HB 33,2% 1 Passat B/NB 46,8% 1 Polo A
Slide 5: 2019 Light Commercial Vehicle Market (%)
4Q 2019 2019 LIGHT COMMERCIAL VEHICLE MARKET (%) Retail - Light Commerical Vehicle market decreased by 31,8% yoy. - DOAS maintained its 3rd position with 10,5% market share. - Leaders in the LCV market are Ford Otosan with 34,2% market share and Tofaş with 20,8% market share. - Segment ranking: VW L
Slide 6: 4Q 2019 Doğuş Otomotiv Brand Sales Performance
4Q 2019 DOĞUŞ OTOMOTIV BRAND SALES PERFORMANCE WHOLESALE UNITS 12M18 12M19 Δ VW PC 45.388 37.029 -18% VW LCV 16.175 8.253 -49% AUDI 12.969 9.576 -26% SKODA 20.425 14.600 -29% SEAT 8.640 5.765 -33% SCANIA 1.177 465 -60% PORSCHE 481 298 -38% BENTLEY 10 9 -10% LAMBORGHINI 3 9 200% DOAS TOTAL 105.268 76
Slide 7: Financial Performance
FINANCIAL PERFORMANCE Audi Q8 Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır.
Slide 8: Financial Performance (mn TL)
FINANCIAL PERFORMANCE (mn TL) Net Sales EBITDA Net Profit CapEx Total Assets Working Capital* 5.167 4.799 4.665 2017 2018 2019 * Comprised of cash and cash equivalents, 8 trade receivables and inventory. Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaş
Slide 9: Margins %
MARGINS % Gross Profit Margin OpEx/Sales EBITDA Margin %8 Kons. Maks 11 -12 % EBIT Margin Net Profit Margin Wholesale Market Sales* * Includes PV (excl Skoda), LCV and HCV sales. 9 Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır.
Slide 10: Income Statement Q-on-Q and Y-on-Y Comparisons
INCOME STATEMENT Q-on-Q and Y-on-Y Comparisons TL’000 4Q 2019 3Q 2019 ∆ 4Q/3Q 4Q 2019 4Q 2018 ∆ 2019/ 2018 Wholesale Sales Volume (excl. Skoda, incl. Scania) 23.476 13.691 71% 23.476 21.185 11% Revenue 3.721.879 2.155.790 73% 3.721.879 2.920.501 27% Direct cost of revenue -3.309.976 -1.847.852 79% -
Slide 11: Income Statement
INCOME STATEMENT TL’000 31.12.2019 31.12.2018 ∆ 2019/ 2018 Gross Profit Margin was realized as 12,9% despite the decrease of 8% in Revenue 9.844.133 10.688.489 -8% revenues. Direct cost of revenue -8.574.429 -9.387.395 -9% Impacts on revenue and direct cost of Gross profit 1.269.704 1.301.094 -2% re
Slide 12: Income from Associates
INCOME FROM ASSOCIATES TL’000 31.12.2019 31.12.2018 ∆ 2019/ 2018 Associates vdf Group 639 8.140 -92% vdf -25.124 -17.151 46% vdf Servis 25.763 25.291 2% Doğuş Sigorta 915 1.678 -45% Yüce Auto (Škoda) 11.627 9.307 25% TÜVTÜRK N&S (Consolidated) 122.948 44.984 173% Doğuş Teknoloji 6.441 -3.341 -293% T
Slide 13: Balance Sheet
BALANCE SHEET Inventories: Number of vehicles increased TL’000 31.12.2019 31.12.2018 ∆ from 8.484 units on 31.12.2018 to 5.878 units ASSETS 4.664.944 4.798.662 -3% on 31.12.2019. Financial Liabilities: Cash and cash equivalents 648.342 365.892 77% Use of financing was realized in line with Trade rec
Slide 14: Financing Costs
FINANCING COSTS Million TL 31.12.2019 31.12.2018 ∆ 2019/2018 Financing Cost, net 614,824 493,741 25% Finance expenses 601,406 497,080 21% Interest expense on borrowings 517,667 466,577 11% Commission expenses on letters of guarantee 52,270 24,025 118% Other financial expenses 31,469 6,478 386% Forei
Slide 15: Financial Performance
FINANCIAL PERFORMANCE Million TL 31.12.2019 31.12.2018 ∆ Working capital 2.330 2.375 -2% Net Cash Position -1.691 -2.364 28% Receivable Turnover (day) 28 22 26% Inventory Turnover (day) 40 53 -25% Payable Turnover (day) 30 22 41% Million TL 31.12.2019 31.12.2018 ∆ CAPEX* 45 179 -75% ROA 1,6% 2,8% -4
Slide 16: Key Material Disclosures in 4Q 2019
KEY MATERIAL DISCLOSURES IN 4Q 2019 28.11.2019 –General Assembly Transactions In accordance with our Profit Distribution Policy, our Company, which fulfills its regular profit share payments up until 2019 and in order to ensure that our principle of sustainable and stable profit distribution continu
Slide 17: 2020 Expectations
2020 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 160-170 mn 620-630 ,000 units ● Ex
Slide 18: Thank You – Q & A
THANK YOU – Q & A New Transporter Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır.
Slide 19: Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır.
Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır.