Bim Birlesik Magazalar A.s. · BIST:BIMAS

Bim Birlesik Magazalar A.s — Q2 2014 Earnings Presentation

17 slides from Bim Birlesik Magazalar A.s's earnings presentation, Jun 30, 2014

  1. Slide 1: For the 3 months to 30 June 2014

    Forthe 3 months to 30 June 2014

  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 2014

    HEADLINES FOR Q2 2014 Significantly strong sales in second quarter: NET SALES at 3.561,0 ML TL (26%+ on Q2 2013) But weaker profit margins: EBITDA at 141,0 ML TL (6%+ on Q2 2013) NET INCOME at 89,7 ML TL (-3%+ on Q2 2013) Like for Like sales up 14,0% Continued expansion – 185 new stores in Turkey, 1

  4. Slide 4: Quarterly Net Sales and Gross Profit

    QUARTERLY NET SALES AND GROSS PROFIT TL Million 4500 Net Sales 800 Gross Profit 4000 700 3500 3.561,0 600 3.395,1 3000 3.087,5 3.132,2 528,1 545,4 500 2.833,6 2500 493,4 487,5 442,0 400 2000 300 1500 200 1000 500 100 0 0 2Q13 3Q13 4Q13 1Q14 2Q14 Gross Margin 15,6% 16,0% 15,6% 15,6% 15,3% 4

  5. Slide 5: Quarterly EBITDA and EBIT

    QUARTERLY EBITDA and EBIT TL Million 175 166,1 EBITDA EBIT 160,1 153,1 150 137,9 141,0 133,4 123,8 128,1 125 106,2 107,2 100 75 50 25 0 2Q13 3Q13 4Q13 1Q14 2Q14 EBITDA 4,7% 5,4% 4,9% 4,7% 4,0% EBIT 3,7% 4,5% 4,0% 3,8% 3,0% EBITDA – EARNINGS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTIZATION EBIT –

  6. Slide 6: Quarterly Net Income

    QUARTERLY NET INCOME TL Million Net Income 125 117,2 105,7 107,8 100 92,8 89,7 75 50 25 0 2Q13 3Q13 4Q13 1Q14 2Q14 Net income 3,3% 3,8% 3,4% 3,2% 2,5% margin 6

  7. Slide 7: Like for Like Sales Increase

    LIKE FOR LIKE SALES INCREASE Quarterly Semi - annually 2013 Q2 2014 Q2 INCREASE 2013 H1 2014 H1 INCREASE Like For Like Like For Like 2.541,1 2.896,9 14,0% 5.104,5 5.754,3 12,7% Sales (Mil TL) Sales (Mil TL) Like For Like Like For Like 10,76 12,15 12,9% 10,89 12,07 Basket (TL) Basket (TL) 10,8% Like

  8. Slide 8: Private Label Sales Continue to Grow

    PRIVATE LABEL SALES CONTINUE TO GROW 1H13 1H14 BRANDED BRANDED 20,5% PRIVATE PRIVATE 21,5% LABEL LABEL 67,3% 69,1% EXCLUSIVE EXCLUSIVE 5,6% 5,4% SPOT SPOT 5,6% 5,0% 8

  9. Slide 9: CAPEX

    CAPEX TL Million % of Net Sales Quarterly CAPEX 7% 140 % of Net Sales 145,6 6% 120 5% 100 4,3% 95,2 4% 80 60 70,1 3% 58,9 59,8 2,7% 2,5% 2% 40 1,9% 1,9% 20 1% 0 0% 2Q13 3Q13 4Q13 1Q14 2Q14 9

  10. Slide 10: Store Growth Continues

    STORE GROWTH CONTINUES Number of Stores 4500 Stores in Turkey 4.344 4000 4.159 4.000 3.922 3500 3.859 3000 2500 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 10

  11. Slide 11: BIM Morocco Update

    BIM MOROCCO UPDATE 30.6.2013 30.9.2013 31.12.2013 31.3.2014 30.6.2014 No. of Stores 134 150 164 180 195 31 new stores in 1H 2014 and we have 202 to date Expecting to be cash generating by end of 2015 Target for 2014 is around 70 new stores by the end of this year 11

  12. Slide 12: BIM Egypt Update

    BIM EGYPT UPDATE BIM Stores LLC in Egypt is developing In Q2 we opened 7 new stores and to date we have 62 stores Our target for 2014 is 50 stores and reach 85 by the end of the year 12

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  15. Slide 15: IFRS Income Statement

    IFRS INCOME STATEMENT 3 months ended 30 June 6 months ended 30 June TL million 2013 2014 2013 2014 Net Sales 2.833,6 3.561,0 5.629,1 6.956,1 (COGS) (2.391,6) (3.015,6) (4.752,7) (5.882,6) Gross Profit 442,0 545,4 876,4 1.073,5 Total SG&A (308,6) (404,4) (599,7) (772,4) EBITDA 133,4 141,0 276,7 301,1

  16. Slide 16: IFRS Balance Sheet

    IFRS BALANCE SHEET As of 30 June TL million Q2 2013 Q2 2014 Intangible assets 3,4 4,4 Tangible assets 917,4 1.145,0 Financial Investments (Long Term) 12,6 157,5 Other non-current assets 15,5 23,7 Total non-current assets 948,9 1.330,6 Trades receivable 311,2 428,8 Inventories 643,8 888,2 Prepayment

  17. Slide 17: IFRS Cash Flow

    IFRS CASH FLOW 3 months ended 30 June 6 months ended 30 June TL million 2013 2014 2013 2014 Net Income 92,8 89,7 190,0 197,5 D&A 27,2 33,8 53,3 65,8 Other non-cash items (8,9) (9,6) (13,5) (12,4) Funds from operations 111,1 113,9 229,8 250,9 Change in net working capital 10,7 21,3 74,2 179,1 Operati

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