Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi · BIST:DOAS
Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi — Doğuş Otomotiv Servis ve Ticaret A.Ş. — Q3 2024 Earnings Presentation
28 slides from Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi's earnings presentation, Nov 12, 2024
Slide 1: 3Q 2024 Analyst Briefing Presentation
3Q 2024 ANALYST BRIEFING PRESENTATION Kerem Talih NOVEMBER 12, 2024 1/28 TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and
Slide 2: What is New?
WHAT IS NEW? Our company's application to the Capital Markets Board (CMB) for the issuance of debt instruments in the form of commercial paper and/or bonds, up Debt to a maximum of 2,000,000,000 TRY (Two Billion Turkish Lira) with different Instrument maturities of up to 3 (three) years, in Turkish
Slide 3: Key Takeaways
KEY TAKEAWAYS1 0% (YoY) +31% (YoY) +134,503 (YoY) 126,259 18,924 2,419,505 Total Sales Commercial Vehicle Vehicle Park (Including Skoda, wholesale) Sales (Excluding Skoda) (Wholesale, LCV+HCV) -73% (YoY) -126% (YoY) -75% (YoY) 6,014 -1,082 27.32 Income From Earnings Per Share Net Profit (Million TL)
Slide 4: Jan-Sep 2024 Main Segment Sales (Retail)
JAN - SEP 2024 DOĞUŞ OTOMOTİV MAIN SEGMENT SALES (Retail) 1.000.000 800.000 600.000 400.000 RETAIL MARKET 200.000 0 Retail PV Premium LCV HCV September 23 885.341 666.890 62.319 190.685 27.766 September 24 874.309 675.273 63.030 174.619 24.417 ∆ -1% 1% 1% -8% -12% 150.000 120.000 90.000 60.000 DOAS
Slide 5: Competition (Retail - September)
COMPETITION (Retail - September) RETAIL MARKET YTD 23 Year End/ September VW PC ranked 4th in the 2022 2023 YTD September September September 24 2023/2024 cumulative passenger vehicle 2023 2024 ∆ ∆ market with 7.03% market share. ŠKODA has a market share of PASSENGER CAR % TOFAŞ/STELLANTIS 30,1 31,0
Slide 6: Jan-Sep 2024 Passenger Vehicle Market (%)
JAN - SEP 2024 PASSENGER VEHICLE MARKET (%) (Retail) 40,0 PC market increased by 1% 35,0 34,4 33,8 yoy. 30,0 28,4 25,0 24,5 20,0 18,5 17,8 DOAS shares a 15.5% market 15,0 16,0 15,5 share at 3rd place. 10,0 7,1 5,0 4,0 The strongest competitors of 0,0 DOAS in this segment are Tofaş/Stellantis with 24
Slide 7: Jan-Sep 2024 Light Commercial Vehicle Market (%)
JAN - SEP 2024 LIGHT COMMERCIAL VEHICLE MARKET (%) (Retail) 50,0 Light Commercial Vehicle 45,0 43,4 41,3 market decreased by 8% yoy. 40,0 35,0 29,8 30,0 27,2 25,0 DOAS shares a 9% market 20,0 share at 3rd place. 15,0 13,5 15,9 10,0 9,0 6,4 6,9 6,6 5,0 The strongest competitors of 0,0 DOAS in this se
Slide 8: Jan-Sep 2024 Brand Based Sales Performance
JAN - SEP 2024 DOĞUŞ OTOMOTİV BRAND BASED SALES PERFORMANCE WHOLESALE UNITS 9M23 9M24 Δ DOAS TOTAL 125,729 126,259 0% VW PC SKODA VW LCV AUDI SEAT -9% +15% +36% -20% +13% 53.694 48.988 29.786 25.853 16.761 16.544 12.302 13.161 7.038 7.932 9M23 9M24 9M23 9M24 9M23 9M24 9M23 9M24 9M23 9M24 CUPRA SCANI
Slide 9: Jan-October 2024 Main Segment Sales (Retail)
JAN - OCTOBER 2024 DOĞUŞ OTOMOTİV MAIN SEGMENT SALES (Retail) 1.000.000 800.000 600.000 400.000 RETAIL MARKET 200.000 0 Retail PV Premium LCV HCV October 23 989.480 749.501 69.351 209.441 30.538 October 24 973.641 750.935 72.163 196.231 26.475 ∆ -2% 0% 4% -6% -13% 150.000 120.000 90.000 DOAS 60.000
Slide 10: Jan-October 2024 Brand Based Sales Performance
JAN - OCTOBER 2024 DOĞUŞ OTOMOTİV BRAND BASED SALES PERFORMANCE WHOLESALE UNITS 10M 2023 10M 2024 Δ DOAS TOTAL 139,921 144,320 3% VW PC SKODA VW LCV AUDI SEAT -5% +19% +36% -16% +14% 59.214 56.099 34.252 28.827 18.851 18.101 13.886 15.199 8.242 9.401 10M 2023 10M 2024 10M 2023 10M 2024 10M 2023 10M
Slide 11: Competition (Retail - October)
COMPETITION (Retail - October) RETAIL MARKET YTD YTD 23 Year End/ October 23/ 2022 2023 October 2023 October 2024 October 24 October 24 ∆ ∆ PASSENGER CAR % TOFAŞ/STELLANTIS 30,1 31,0 32,9 24,2 -6,8 -8,7 RENAULT GRUP 22,5 18,6 18,2 18,5 -0,1 0,3 DOĞUŞ OTOMOTİV 15,8 15,6 15,7 16,0 0,4 0,3 CHERY 0,0 4,
Slide 12: Financial Performance
FINANCIAL PERFORMANCE 12/28 TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third parties. Cupra Leon
Slide 13: Financial Performance (mn TL)
FINANCIAL PERFORMANCE (mn TL) Revenue 1 EBITDA 1 Net Profit 1 -20% -54% -73% 149.245 150.300 27.847 30.951 19.762 22.269 120.624 14.215 6.014 2023 9M2023 9M2024 2023 9M2023 9M2024 2023 9M2023 9M2024 CapEx1,2 Total Assets Working Capital3 %81 -10% 42.351 -20% 92.204 33.870 2.412 1.889 83.046 1.330 20
Slide 14: Margins %
MARGINS % Gross Profit Margin1 OpEx/Sales 1 EBITDA Margin 1 21,5% 22,6% 6,1% 20,6% 18,7% 16,6% 3,7% 11,8% 2,8% 2023 9M2023 9M2024 2023 9M2023 9M2024 2023 9M2023 9M2024 EBIT Margin 1 Net Profit Margin 1 Wholesale Sales Volume2 19,8% 14,8% 138.303 17,8% 13,2% 99.876 96.473 10,5% 5,0% 2023 9M2023 9M202
Slide 15: Income Statement (Y/Y Comparison)
INCOME STATEMENT (Y/Y Comparison) TL’000 30.09.2024 30.09.2023 Δ Wholesale Sales Volume 96.473 99.876 -3% (excl. Skoda, incl. Scania) Revenue 120.624.462 150.299.880 -20% Direct cost of revenue -100.561.366 -116.287.305 -14% Gross profit 20.063.096 34.012.575 -41% Gross profit margin 16,6% 22,6% Tot
Slide 16: Income Statement (Q/Q Comparisons)
INCOME STATEMENT (Q/Q Comparisons) TL’000 3Q 2024 3Q 2023 Δ Wholesale Sales Volume 32.957 37.955 -13% (excl. Skoda, incl. Scania) Revenue 37.928.259 58.356.655 -35% Direct cost of revenue -33.195.494 -46.006.537 -28% Gross profit 4.732.765 12.350.118 -62% Gross profit margin 12,5% 21,2% Total Operat
Slide 17: Income/Loss from Associates
INCOME/LOSS FROM ASSOCIATES TL’000 30.09.2024 30.09.2023 Δ Associates TÜVTÜRK N&S (Consolidated) 700.840 520.099 35% Doğuş Teknoloji 78.271 31.796 146% Yüce Auto (Škoda) 70.034 2.117.135 -97% Doğuş Sigorta -628 21.588 -103% VDF Servis -1.930.930 1.410.783 -237% Total -1.082.413 4.101.401 -126% 17/28
Slide 18: Balance Sheet
BALANCE SHEET TL’000 30.09.2024 31.12.2023 Δ Inventories: Number of vehicles increased from 11,683 units on 31.12.2023 to 18,901 units ASSETS 83.045.848 92.204.155 -10% on 30.09.2024. Cash and cash equivalents 1.408.812 10.384.632 -86% Trade receivables 12.006.067 17.497.913 -31% TL'000 30.09.2024 3
Slide 19: Financing Costs
FINANCING COSTS TL’000 30.09.2024 30.09.2023 Δ Financing Cost, net 1.729.255 5.401.873 -68% Financial Expenses 3.452.553 6.044.717 -43% Interest Expense on Borrowings 1.650.857 1.456.597 13% Foreign Exchange Losses on Borrowings 1.408.239 4.221.789 -67% Commission Expenses on Letters of Guarantee 19
Slide 20: Financial Performance
FINANCIAL PERFORMANCE Million TL 30.09.2024 31.12.2023 Δ Working capital 33.870 42.351 -20% Net Cash Position 1 -9.507 -3.214 196% Receivable Turnover (day) 27 31 -13% Inventory Turnover (day) 56 33 68% Payable Turnover (day) 39 27 47% 1 Net Cash Position = Cash and Cash Equivalents - Bank Borrowing
Slide 21: Doğuş Otomotiv Sustainability Strategy
Doğuş Otomotiv Sustainability Strategy Doğuş Otomotiv Sustainable Process Management 21/28 TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the
Slide 22: TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak
22/28 TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third parties.
Slide 23: Environmental, Social and Economic Sustainability Highlights
ESRS Reporting • VW AG @Retail Pilot • Being The First Company in •Inclusion in the BIST Country Program Turkey to Declare Its Human Sustainability 25 Index Rights Priorities • Creation of the D-Charge Brand for the Establishment •Implementation of •Ranked 4th Among 295 and Operation of Charging Cor
Slide 24: Corporate Governance Principles Compliance Rating
Corporate Governance Principles Compliance Rating 12 Years of Consistently Increasing Remarkable Performance Corporate Governance Principles Compliance Rating Score 9.65 9.67 9.70 9.74 9.76 9.63 9.64 9.42 9.51 9.25 9.05 8.53 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 The 2nd Company
Slide 25: Corporate Sustainability Rating
Corporate Sustainability Rating Breakdown of Corporate Corporate Sustainability Rating Score Sustainability Rating Score 86,55 81,92 81,14 65,33 80,28 67,27 Governance Yönetişim 79,87 63,66 39,66 66,54 94,52 94,60 Social Sosyal 94,85 2020 2021 2022 2023 04.11.2024 95,02 92,00 Breakdown of Rating Met
Slide 26: 2024 Expectations
2024 EXPECTATIONS Sustainability and Mobility Digitalization Climate Change Priorities Operational Efficiency and Optimum Service Areas Profitability Cautious Expenditure Management OEM Strategy: Maintain represented brands’ competitive position. Total Automotive Market Investment Expenditure (PC+LC
Slide 27: Thank You – Q & A
THANK YOU – Q & A 27/28 TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third parties. Scania SUPER
Slide 28: TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak
28/28 TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third parties.
Doğuş Otomotiv Servis ve Ticaret A.Ş. — Q3 2024 Earnings Presentation on 6ix