Bim Birlesik Magazalar A.s. · BIST:BIMAS

Bim Birlesik Magazalar A.s — Q1 2021 Earnings Presentation

20 slides from Bim Birlesik Magazalar A.s's earnings presentation, 2021

  1. Slide 1: Q1|21 Business Update

    Q1|21 Business Update © BIM| All rights reserved

  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: Highlights, Operational Performance, Financial Performance, Q&A

     Highlights  Operational Performance  Financial Performance  Q&A 3

  4. Slide 4: Headlines of Key Figures for Q1 2021

    HEADLINES of KEY FIGURES for Q1 2021 15,5 TL billion Sales (+23% YoY) 480 TL million CAPEX at 3,1% of sales 9.723 total stores 358 new stores in 1Q 21 1.324 TL million EBITDA (8,5% margin and 34% YoY) 685 TL million Net Income (4,4% margin,59% YoY) Top line growth and EBITDA margin trends in-line wi

  5. Slide 5: Highlights, Operational Performance, Financial Performance, Q&A

     Highlights  Operational Performance  Financial Performance  Q&A 5

  6. Slide 6: Like for Like Sales Increase (BIM Turkey)

    LIKE FOR LIKE SALES INCREASE (BIM TURKEY*) QUARTERLY 2020 Q1 2021 Q1 CHANGE Like-For-Like Sales 17.127 19.357 13,0% (per store/per day (TL)) Like-For-Like Basket 25,97 35,38 36,2% (TL/per visit) Like-For-Like Customer Traffic 659,4 547,2 -17,0% (per store/per day) Number of working days 91 90 0,7% 6

  7. Slide 7: Expansion

    EXPANSION Turkey (Inc. File) Foreign * Total 1Q21 8.871 852 * 9.723 • Store growth 13% YoY 4Q20 8.530 835 * 9.365 • New opening in 1Q 21 = 358 consolidated stores, net 3Q20 8.321 826 * 9.147 • Good pace of new store opening continues 2Q20 8.095 826 * 8.921 1Q20 7.814 826 * 8.640 7

  8. Slide 8: Capex

    CAPEX 2,9% 3,1% 2,4% 2,2% 1,9% • 6 new warehouses under construction of which 4 of them belongs to Bim 448 480 331 272 273 • Strong store opening trend continues 1Q20 2Q20 3Q20 4Q20 1Q21 Capex Capex to sales 8

  9. Slide 9: Highlights, Operational Performance, Financial Performance, Q&A

     Highlights  Operational Performance  Financial Performance  Q&A 9

  10. Slide 10: Net Sales & Gross Profit

    NET SALES & GROSS PROFIT 23% y-y 18,7% 18,4% 18,5% 18,4% 17,2% 14.028 15.309 15.502 12.598 13.560 2.868 2.854 2.574 2.511 2.168 1Q20 2Q20 3Q20 4Q20 1Q21 1Ç20 2Ç20 3Ç20 4Ç20 1Ç21 Revenues (TRY m) Brüt Kar (mn TL Brüt Kar Marjı 10

  11. Slide 11: EBITDA / EBIT

    EBITDA / EBIT 9,5% 10,0% 9,0% 7,6% 8,5% 7,1% 7,8% 6,3% 5,9% 5,3% 1.525 1.171 1.340 1.324 1.002 917 1.217 858 985 666 1Q20 2Q20 3Q20 4Q20 1Q21 1Q20 2Q20 3Q20 4Q20 1Q21 EBITDA (TRY m) EBITDA Margin EBIT (TRY m) EBIT Margin 11

  12. Slide 12: Net Income

    NET INCOME 5,4% 5,0% 4,8% 4,4% 3,4% • Net income increased by 59% y-y 825 697 654 685 • Corporate tax rate was applied as 20% in 1Q21. It will 430 be 25% in FY2021. 1Q20 2Q20 3Q20 4Q20 1Q21 Net Income (TRY m) 12

  13. Slide 13: Foreign Operations & File

    FOREIGN OPERATIONS & FILE MOROCCO EGYPT FILE • 17 new stores opened in 1Q 2021, • In Egypt we have maintained our 300 • 10 new stores opened in 1st quarter inline with our expectations. stores in Q1. • Online shopping platform is in • Sales of 35% shares recently finalized. • No new store openings p

  14. Slide 14: Highlights, Operational Performance, Financial Performance, Q&A

     Highlights  Operational Performance  Financial Performance  Q&A 14

  15. Slide 15: Q&A

    Q&A 15

  16. Slide 16: Appendixes: IFRS Statements

    Appendixes IFRS Statements 16

  17. Slide 17: IFRS Income Statement

    IFRS INCOME STATEMENT 3 months ended 31 March TL million Change % Q1 2020 Q1 2021 Q1 20 / Q1 21 Net Sales 12.598 15.502 23% COGS (10.430) (12.648) 21% Gross Profit 2.168 2.854 32% Total SG&A (1.183) (1.530) 29% EBITDA 985 1.324 34% D&A (319) (407) 28% EBIT 666 917 38% Net financial inc/(exp) (139) (

  18. Slide 18: IFRS Income Statement (w/o IFRS 16)

    IFRS INCOME STATEMENT (w/o IFRS 16) 3 months ended 31 March TL million Q1 2020 Q1 2021 Change % Without IFRS 16 Without IFRS 16 Q1 20 / Q1 21 Net Sales 12.598 15.502 23% COGS (10.430) (12.648) 21% Gross Profit 2.168 2.854 32% Total SG&A (1.473) (1.866) 27% EBITDA 694 987 42% D&A (128) (171) 33% EBIT

  19. Slide 19: IFRS Balance Sheet

    IFRS BALANCE SHEET As of 31 March TL million Q1 2020 Q1 2021 Intangible assets 41 43 Tangible assets 4.481 6.560 Right of Use Assets (IFRS 16) 4.433 5.843 Financial Investments (Long term) 468 523 Other non-current assets 49 105 Total fixed assets 9.472 13.074 Trades receivable 2.233 2.614 Financial

  20. Slide 20: IFRS Cash Flow

    IFRS CASH FLOW 3 months ended 31 March TL million Q1 2020 Q1 2021 Net Income 430 685 D&A 319 407 Non cash tax expense 124 149 Other non-cash items 122 8 Funds from operations 995 1.249 Change in net working capital 800 (74) Tax & other payments (116) (259) Operating cash flow 1.679 916 Capital expen

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