Bim Birlesik Magazalar A.s. · BIST:BIMAS

Bim Birlesik Magazalar A.s — Q2 2017 Earnings Presentation

17 slides from Bim Birlesik Magazalar A.s's earnings presentation, Jun 30, 2017

  1. Slide 1: Results Presentation

    RESULTS PRESENTATION For the 3 months to 30 June 2017

  2. Slide 2: Notice

    NOTICE The information contained in this document has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. Neither t

  3. Slide 3: Headlines for Q2 2017

    HEADLINES FOR Q2 2017 6,2 TL billion 324,6 TL million 176 TL million CAPEX Sales (+25% YoY) EBITDA (41% YoY) at 2,8% of sales Net sales above Strong EBITDA and Continued expectations profit margins Expansion Stores: Growth target revision 216,4 TL million 5.914 BIM TR 358 BIM Morocco (50% YoY) Net I

  4. Slide 4: Net Sales and Gross Profit

    NET SALES AND GROSS PROFIT Quarterly, TL million Semi-annual, TL million 6.213 11.920 5.707 5.234 9.782 4.971 5.056 1.054 2.039 986 1.615 868 881 818 2Q16 3Q16 4Q16 1Q17 2Q17 H1 2016 H1 2017 Net Sales Gross Profit Net Sales Gross Profit Gross Margin Gross Margin 16,5% 17,2% 16,8% 17,3% 17,0% 16,5% 1

  5. Slide 5: EBITDA and EBIT

    EBITDA AND EBIT Quarterly, TL million Semi-annual, TL million 325 304 629 264 260 261 244 505 230 473 210 201 179 372 2Q16 3Q16 4Q16 1Q17 2Q17 H1 2016 H1 2017 EBITDA EBIT EBITDA EBIT EBITDA Margin EBITDA Margin 4,6% 5,2% 5,0% 5,3% 5,2% 4,8% 5,3% EBIT Margin EBIT Margin 3,6% 4,1% 3,8% 4,3% 5 4,2% 3,8

  6. Slide 6: Net Income

    NET INCOME Quarterly, TL million Semi-annual, TL million 414 216 193 198 172 306 144 2Q16 3Q16 4Q16 1Q17 2Q17 H1 2016 H1 2017 Net Income Net Income Net Income Margin Net Income Margin 2,9% 3,4% 3,7% 3,5% 3,5% 3,1% 3,5% 6

  7. Slide 7: Like for Like Sales Increase (Turkey BİM Only)

    LIKE FOR LIKE SALES INCREASE (TURKEY BİM ONLY) Quarterly Semi-annualy 2016 Q2 2017 Q2 INCREASE 2016 H1 2017 H1 INCREASE Like-For-Like Like-For-Like Sales (TL- Sales 10.218 11.848 16,0% Sales (TL- Sales 10.223 11.524 12,7% per Store per Day) per Store per Day) Like-For-Like Like-For-Like 14,55 16,46

  8. Slide 8: Low-Capex Business Model

    LOW-CAPEX BUSINESS MODEL Quarterly Capex & % of Net Sales Semi-annual Capex & % of Net Sales 3,2% 3,3% 2,5% 2,6% 2,8% 2,3% 309 2,2% 176 298 166 136 123 118 2Q16 3Q16 4Q16 1Q17 2Q17 1H16 1H17 Quarterly CAPEX % of Net Sales Semi-annual CAPEX % of Net Sales 8

  9. Slide 9: Store Growth on Track (BİM Turkey & FİLE)

    STORE GROWTH ON TRACK (BIM TURKEY & FILE) Number of BİM Stores in Turkey Number of FİLE Stores Quarterly 5.914 Date # of Stores Q2 2017 33 5.717 Q1 2017 27 5.602 Q4 2016 21 Q3 2016 15 5.437 Q2 2016 11 5.374 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Stores in Turkey (BİM) 9

  10. Slide 10: Foreign Operations

    FOREIGN OPERATIONS MOROCCO EGYPT Quarterly # of stores Quarterly # of stores 358 255 343 215 231 181 190 329 319 309 2Q16 3Q16 4Q16 1Q17 2Q17 2Q16 3Q16 4Q16 1Q17 2Q17 • 15 Stores opened in 2Q17, and we have 358 stores • 24 stores opened in 2Q17, and we have 255 stores in Morocco as at 2Q17 in line w

  11. Slide 11: Foreign Operations - Contributions

    FOREIGN OPERATIONS - CONTRIBUTIONS Contribution to Consolidated Sales Contribution to Consolidated EBITDA H1 2016 - H1 2017, TL million H1 2016 - H1 2017, TL million 486 -11 392 -20 639 628 11.434 11.920 9.390 9.782 493 473 H1 16 H1 17 H1 16 H1 17 H1 16 H1 17 H1 16 H1 17 H1 16 H1 17 H1 16 H1 17 Dome

  12. Slide 12: 2017 Targets

    2017 TARGETS 2017 TARGETS SALES GROWTH (%) (REVISED) 20% to 23% (OLD - %15 to%18) EBITDA MARGIN (%) 5,0% (+ - 50 bps) CAPEX mil TL ~ 500 CONSOLIDATED NEW STORE ~ 635 OPENINGS TURKEY ~500 MOROCCO ~60 EGYPT ~50 FİLE ~25 12

  13. Slide 13: Q&A

    Q&A 13

  14. Slide 14: Appendix Q & A IFRS Financials

    APPENDIX Q & A IFRS Financials 14

  15. Slide 15: IFRS Income Statement

    IFRS INCOME STATEMENT 3 months ended 30 June 6 Months ended 30 June TL million 2016 2017 Change % 2016 2017 Change % Net Sales 4.971,2 6.213,0 25,0% 9.782,0 11.919,7 21,9% (COGS) (4.153,4) (5.159,3) 24,2% (8.167,5) (9.880,4) 21,0% Gross Profit 817,8 1.053,7 28,9% 1.614,5 2.039,3 26,3% Total SG&A (58

  16. Slide 16: IFRS Balance Sheet

    IFRS BALANCE SHEET As at 30 June TL million Q2 2016 Q2 2017 Intangible assets 7,1 8,9 Tangible assets 1.965,0 2.257,1 Financial Investments (long term) 181,8 193,4 Other non-current assets 47,4 44,9 Total fixed assets 2.201,3 2.504,3 Trades receivable 605,3 727,4 Inventories 1.308,8 1.451,9 Prepayme

  17. Slide 17: IFRS Cash Flow

    IFRS CASH FLOW 3 months ended 30 June 6 months ended 30 June TL million 2016 2017 2016 2017 Net Income 143,9 216,4 305,9 414,3 D&A 51,6 63,6 100,8 123,5 Non cash tax expense 38,8 58,6 82,5 113,4 Other non-cash items (3,4) (5,8) 11,5 40,6 Funds from operations 230,9 332,8 500,7 691,8 Change in net wo

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