Bim Birlesik Magazalar A.s. · BIST:BIMAS

Bim Birlesik Magazalar A.s — FY2024 Earnings Presentation

32 slides from Bim Birlesik Magazalar A.s's earnings presentation, 2025

  1. Slide 1: 2024 Financial Results

    BIM. 2024 FINANCIAL RESULTS

  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: Agenda

    P R E S E N T A T I O N Highlights Operational Financial Guidance Performance Performance R E S U L T S 2 0 2 4 B I M Sustainability Q &A APPDX

  4. Slide 4: Headlines of Key Figures for 2024

    HEADLINES of KEY FIGURES for 2024 (with TAS 29 inflation accounting on financials) Highlights 519.6 billion TL 8.2 billion TL SALES (+10% YoY) NET CASH (including STFA) P R E S E N T A T I O N 18.1 billion TL 13,583 Total stores CAPEX (3.5% of sales) (1.101 new stores in 2024) R E S U L T S 22.6 bil

  5. Slide 5: 2024 Guidance vs Actual

    2024 GUIDANCE VS ACTUAL 2024 GUIDANCE (w/o TAS 29 Inflation Accounting) Initial Actual (13.05.2024) P R E S E N T A T I O N SALES GROWTH 75 % (± 0.5 %) 72% R E S U L T S EBITDA MARGIN* 7.5% - 8.0% 7.5% 2 0 2 4 CAPEX TO SALES 3.0% - 3.5% 3.7% B I M • Guidance for sales growth and EBITDA margin achiev

  6. Slide 6: Operational Performance

    P R E S E N T A T I O N Highlights Operational Financial Guidance Performance Performance R E S U L T S 2 0 2 4 B I M Sustainability Q &A APPDX

  7. Slide 7: Like for Like Sales Increase (BIM Türkiye)

    LIKE FOR LIKE SALES INCREASE (BIM TURKIYE*) Operational Performance QUARTERLY (w/o TAS 29) ANNUALLY (w/o TAS 29) 2023 Q4 2024 Q4 CHANGE 2023 12M 2024 12M CHANGE Like-For-Like Sales (per store/per day (TL) 74,786 104,836 40.2% Like-For-Like Sales 62,716 97,819 56.0% (per store/per day (TL) P R E S E

  8. Slide 8: Revenue Breakdown

    REVENUE BREAKDOWN Financial Performance BY FORMAT AND GEOGRAPHY* BY CATEGORY BİM Türkiye 4Q24 4Q24 P R E S E N T A T I O N 32% 8% 6% 30% 87% 89% 4Q23 4% 4Q23 R E S U L T S 4% 59% 62% 1% 1% 7% 2 0 2 4 B I M 1% 8% 1% BİM TR FİLE BİM MAROC BİM EGYPT Private Label Branded Spot Exclusive *Without TAS 29

  9. Slide 9: Expansion

    EXPANSION Operational Performance QUARTERLY ANNUALLY 418 418 789 394 381 356 287 789 365 759 687 P R E S E N T A T I O N 356 734 287 311 236 711 272 627 687 254 202 244 300 236 578 160 12,089 300 11,203 11,952 12,089 R E S U L T S 11,755 535 10,370 11,203 11,471 123 9,451 8,407 2 0 2 4 4Q23 1Q24 2Q2

  10. Slide 10: Capex

    CAPEX Operational Performance QUARTERLY ANNUALLY 4.2% 3.4% 3.5% 2.8% P R E S E N T A T I O N 18,058 5,141 3,560 With TAS 29 16,220 R E S U L T S 4Q23 4Q24 12M 2023 12M 2024 Capex Capex to sales Capex Capex to sales 2 0 2 4 B I M 4.3% 4.0% 3.7% 3.5% 3.9% 3.6% 3.5% 4,316 4,780 4,475 Without TAS 29 17,

  11. Slide 11: Financial Performance

    P R E S E N T A T I O N Highlights Operational Financial Guidance Performance Performance R E S U L T S 2 0 2 4 B I M Sustainability Q &A APPDX

  12. Slide 12: Net Sales

    NET SALES Financial Performance QUARTERLY ANNUALLY 10% y-y 5% y-y P R E S E N T A T I O N 474,200 519,567 122,563 129,067 With TAS 29 R E S U L T S 4Q23 4Q24 12M 2023 12M 2024 Revenues (TRY m) Revenues (TRY m) 2 0 2 4 54% y-y 72% y-y B I M 123,575 128,471 459,722 83,417 100,296 107,380 Without TAS 2

  13. Slide 13: Gross Profit

    GROSS PROFIT Financial Performance QUARTERLY ANNUALLY 17.5% 18.2% 15.7% 13.2% P R E S E N T A T I O N 90,817 23,499 16,194 With TAS 29 74,619 R E S U L T S 4Q23 4Q24 12M 2023 12M 2024 Gross Profit (TRY m) Gross Margin Gross Profit (TRY m) Gross Margin 2 0 2 4 20.8% 19.4% 20.6% B I M 20.6% 19.9% 21.1

  14. Slide 14: Operating Leverage

    OPERATING LEVERAGE Financial Performance QUARTERLY ANNUALLY 16.3% 16.5% 13.9% 14.7% P R E S E N T A T I O N 21,050 85,472 17,026 With TAS 29 69,769 R E S U L T S 4Q23 4Q24 12M 2023 12M 2024 Opex (TRY m) Opex to Sales (%) Opex (TRY m) Opex to Sales (%) 2 0 2 4 15.0% B I M 15.2% 15.2% 13.3% 14.8% 14.8

  15. Slide 15: Opex Management Annually

    OPEX MANAGEMENT ANNUALLY * Financial Performance 19.0% 18.0% +6bp +184bp +15bp 16.55% -18bp 0bp 0bp -5bp 17.0% 16.0% 14.74% 15.0% P R E S E N T A T I O N 14.0% 13.0% 12.0% R E S U L T S 11.0% 2 0 2 4 10.0% 2023 OPEX Personnel Utility Expense Packaging Vehicles fuel & Advertising D&A Other 2024 OPEX

  16. Slide 16: EBITDA

    EBITDA Financial Performance QUARTERLY ANNUALLY 5.4% 4.2% 4.3% 1.9% P R E S E N T A T I O N 6,967 22,558 With TAS 29 19,854 2,366 R E S U L T S 4Q23 4Q24 12M 2023 12M 2024 EBITDA (TRY m) EBITDA Margin EBITDA (TRY m) EBITDA Margin 2 0 2 4 7.9% 7.5% B I M 8.3% 7.6% 8.3% 7.5% 6.5% 34,541 9,250 10,679 W

  17. Slide 17: Net Income

    NET INCOME Financial Performance QUARTERLY ANNUALLY 4.7% 6.7% 3.6% 3.0% P R E S E N T A T I O N 22,293 18,587 8,159 With TAS 29 3,864 R E S U L T S 4Q23 4Q24 12M 2023 12M 2024 Net Income (TRY m) Net Margin Net Income (TRY m) Net Margin 2 0 2 4 4.6% 5.1% 4.3% B I M 4.4% 4.3% 4.4% 3.9% 19,567 4,425 5,

  18. Slide 18: Quarterly Cash Flow Bridge

    QUARTERLY CASH FLOW BRIDGE* Financial Performance Total 9,583 10,394 19,464 4,475 1,049 P R E S E N T A T I O N 2,072 16,615 STFA 4,914 Total 8,240 R E S U L T S 5,425 STFA 2,849 Cash 2,815 Cash 2 0 2 4 Cash position Funds from Change in NWC CAPEX Lease Payment Other Dividend Cash position B I M inc

  19. Slide 19: Annual Cash Flow Bridge

    ANNUAL CASH FLOW BRIDGE* Financial Performance 5,861 17,114 33,336 P R E S E N T A T I O N Total 6,882 Total 6,988 3,880 6,108 8,240 R E S U L T S 3,382 STFA 5,425 STFA 3,607 Cash 2,815 Cash 2 0 2 4 Cash position Funds from Change in NWC CAPEX Lease Payment Other Dividend Cash position B I M includi

  20. Slide 20: FİLE

    FİLE Financial Performance P R E S E N T A T I O N R E S U L T S 287 287 stores in 30 33% share of Online sales FİLE online shopping Stores 2 0 2 4 cities, 51 new Private Labels form 5% of platform operates stores in 2024. within FİLE’s total FİLE’s with 81 stores, two of B I M sales. revenues. whic

  21. Slide 21: Foreign Operations

    FOREIGN OPERATIONS Financial Performance BİM MAROC MAROC P R E S E N T A T I O N 19.2 bn TL 4.2% of 5,633 789 Stores 4 logistic Sales Consolidated Employees centers EBITDA* R E S U L T S BİM EGYPT 2 0 2 4 B I M EGYPT 3.4 bn TL 0.5% of 2,654 418 Stores 2 logistics Sales Consolidated Employees centers

  22. Slide 22: Guidance

    P R E S E N T A T I O N Highlights Operational Financial Guidance Performance Performance R E S U L T S 2 0 2 4 B I M Sustainability Q &A APPDX

  23. Slide 23: 2025 Guidance

    2025 GUIDANCE Guidance w/o TAS 29 with TAS 29 2024 2025 2024 2025 ACTUAL GUIDANCE ACTUAL GUIDANCE P R E S E N T A T I O N SALES GROWTH 72% 45% (± 5%) 10% 8% (± 2%) R E S U L T S EBITDA MARGIN* 7.5% 7.5% (± 0.5%) 4.3% 5.0% (± 0.5%) 2 0 2 4 3.7% 3.5% - 4.0% 3.5% 3.5% - 4.0% B I M CAPEX TO SALES *EBITD

  24. Slide 24: Sustainability

    P R E S E N T A T I O N Highlights Operational Financial Guidance Performance Performance R E S U L T S 2 0 2 4 B I M Sustainability Q &A APPDX

  25. Slide 25: Sustainability Efforts

    SUSTAINABILITY EFFORTS Sustainability 22 Solar Power Plant with 62,5 MW Net Promoter Score of BİM has BİM targets to achieve a 20% reduction installed power. BİM aims to obtain 25% of improved to 52* in 2024. in water consumption density until energy consumption of Turkiye operations 2025. from rene

  26. Slide 26: Q&A

    P R E S E N T A T I O N Highlights Operational Financial Guidance Performance Performance R E S U L T S 2 0 2 4 B I M Sustainability Q &A APPDX

  27. Slide 27: Appendix

    P R E S E N T A T I O N Highlights Operational Financial Guidance Performance Performance R E S U L T S 2 0 2 4 B I M Sustainability Q &A APPDX

  28. Slide 28: TFRS Income Statement (with TAS 29)

    TFRS INCOME STATEMENT (with TAS 29) APPDX 12 months ended 31 December 3 months ended 31 December Change % Change % TL million 12M 2023 12M 2024 YoY 4Q 2023 4Q 2024 QoQ Net Sales 474,200 519,567 10% 122,563 129,067 5% COGS (399,582) (428,749) 7% (106,369) (105,568) -1% Gross Profit 74,619 90,817 22%

  29. Slide 29: TFRS Income Statement (w/o TAS 29)

    TFRS INCOME STATEMENT (w/o TAS 29) APPDX 12 months ended 31 December 3 months ended 31 December Change % Change % TL million 12M 2023 12M 2024 YoY 4Q 2023 4Q 2024 QoQ Net Sales 267,036 459,722 72% 83,417 128,471 54% COGS (215,247) (364,897) 70% (67,113) (101,362) 51% Gross Profit 51,789 94,825 83% 1

  30. Slide 30: TFRS Income Statement (w/o TAS 29, w/o TFRS 16)

    TFRS INCOME STATEMENT (w/o TAS 29, w/o TFRS 16) APPDX 12 months ended 31 December 3 months ended 31 December Change % Change % TL million 12M 2023 12M 2024 YoY 4Q 2023 4Q 2024 QoQ Net Sales 267,036 459,722 72% 83,417 128,471 54% COGS (215,247) (364,897) 70% (67,113) (101,362) 51% Gross Profit 51,789

  31. Slide 31: TFRS Balance Sheet (with TAS 29)

    TFRS BALANCE SHEET (with TAS 29) As of APPDX TL Million 31 December 2023 31 December 2024 TOTAL CURRENT ASSETS 78,627 74,041 Cash & Cash Equivalents 5,207 2,815 Financial Investments 4,882 5,425 Trade Receivables 23,281 23,731 Prepayments 3,028 3,046 Inventories 39,455 37,086 Other Current Assets 2,

  32. Slide 32: TFRS Cash Flow (with TAS 29)

    TFRS CASH FLOW (with TAS 29) APPDX 12 months ended 31 December TL million 12M 2023 12M 2024 Net Income 22,300 18,613 D&A 15,004 17,213 Non Cash Tax Expense 9,528 7,321 Other Non-Cash Items (11,768) (5,723) P R E S E N T A T I O N Funds From Operations 35,064 37,423 Change In Net Working Capital (2,7

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