Dogan Sirketler Grubu Holding A.s. · BIST:DOHOL
Dogan Sirketler Grubu Holding A.s — Doğan Holding — Q3 2023 Earnings Presentation
24 slides from Dogan Sirketler Grubu Holding A.s's earnings presentation, Nov 8, 2023
Slide 1: Doğan Holding 3Q23 Earnings Presentation
Doğan Holding 3Q23 Earnings Presentation November 08, 2023
Slide 2: 3Q23 Financial Highlights
3Q23 Financial Highlights Significant Growth in Operating Profit • Ongoing robust revenue and profitability in Automotive segment • Continued strong contribution from our Digital Insurance business High Net Cash Position and Solid Balance Sheet • USD682 million solo net cash • USD567 million consoli
Slide 3: 3Q23 Financial Highlights
3Q23 Financial Highlights Revenue EBITDA* Net Income (TL mn) 1,694 1,639 230% 13,846 70% %34 1,089 997 4,081 3Q22 3Q23 3Q22 3Q23 3Q22 3Q23 • Industry & Trade segment: +71% • Electricity Generation segment: %26 • Higher EBITDA YoY (+) • Automotive segment: +%751 • Industry & Trade segment: +33% • Hig
Slide 4: Share Buyback / Dividend Inflow and Payments
Share Buyback /Dividend Inflow and Payments Share Buyback Program Dividend Inflow Dividend Payments • Share Buyback Program updated at the • Consistent dividend inflow from group • Dividend Policy: targets to distribute >5% General Assembly dated March 30, 2022. companies. of paid-in capital. • Prog
Slide 5: Electricity Generation Segment
Electricity Generation Segment Electricity Generation Segment Summary Financials 3Q23 Overview TL million 3Q22 3Q23 Δ 9M22 9M23 Δ • Electricity production contracted by 1.9% in 8M23 Revenue 345 481 39% 863 1,072 24% Gross Profit 274 359 31% 702 803 14% • The Market Settlement Price (MSP) averaged TL
Slide 6: Electricity Generation Segment – Galata Wind
Electricity Generation Segment – Galata Wind Galata Wind Summary Financials 3Q23 Overview TL million 3Q22 3Q23 Δ 9M22 9M23 Δ • Revenue grew by 39% with higher prices. Revenue 345 481 39% 863 1,072 24% Gross Profit 274 361 32% 702 805 15% • Margin contraction due to rising costs. EBITDA 285 360 26% 7
Slide 7: Electricity Generation Segment – Galata Wind
Electricity Generation Segment – Galata Wind Domestic Investments Foreign Investments Post -2025 Domestic Investments Current & Additional Capacities & New Investments Pre-approved licenses for Two agreements signed with developer for 300 Storage Units Production Current Additional New Capacity Capa
Slide 8: Industry & Trade Segment
Industry & Trade Segment Industry & Trade Segment Summary Financials 3Q23 Overview TL million 3Q22 3Q23 Δ 9M22 9M23 Δ • Group companies recorded robust organic growth. Revenue 2,426 4,159 71% 5,102 9,993 96% Gross Profit 483 711 47% 1,063 1,859 75% • Higher costs led to EBITDA margin contraction com
Slide 9: Industry & Trade Segment – Karel Elektronik
Industry & Trade Segment – Karel Elektronik Karel Elektronik Summary Financials 3Q23 Overview TL million 3Q22 3Q23 Δ 9M22 9M23 Δ • Organic growth and contribution from new business led to 140% top- Revenue 913 2,191 140% 2,074 5,467 164% line growth. Gross Profit 225 380 69% 483 1,031 113% EBITDA 18
Slide 10: Industry & Trade Segment – Sesa Ambalaj
Industry & Trade Segment – Sesa Ambalaj Sesa Ambalaj Summary Financials 3Q23 Overview TL million 3Q22 3Q23 Δ 9M22 9M23 Δ • Contracting domestic demand pressured revenue growth Revenue 460 666 45% 1,149 1,628 42% Gross Profit 130 196 52% 337 447 33% • Higher costs and increased competition led to a l
Slide 11: Industry & Trade Segment – Ditaş
Industry & Trade Segment – Ditaş Ditaş Summary Financials 3Q23 Overview TL million 3Q22 3Q23 Δ 9M22 9M23 Δ • Increased demand drove the top-line growth of 92% YoY. Revenue 183 352 92% 524 867 65% Gross Profit 19 53 176% 87 113 31% • Efficient cost management and higher sales volume led to EBITDA 0 2
Slide 12: Automotive Segment – Dogan Trend Otomotiv
Automotive Segment – Dogan Trend Otomotiv Automotive Segment Summary Financials 3Q23 Overview TL million 3Q22 3Q23 Δ 9M22 9M23 Δ • Ongoing robust demand led to strong triple-digit top-line growth Revenue 682 5,809 751% 1,969 10,525 435% Gross Profit 190 1,230 547% 516 2,322 350% of 751% YoY. EBITDA
Slide 13: Finance & Investment Segment
Finance & Investment Segment Finance & Investment Segment Summary Financials 3Q23 Overview TL million 3Q22 3Q23 Δ 9M22 9M23 Δ • Doğan Investment Bank (DIB)’s asset size increased to TL2.7 Revenue 205 2,658 1200% 477 5,788 1114% PBT 469 740 58% 1,883 6,443 242% billion. • Hepiyi Sigorta’s strong top-
Slide 14: Hepiyi Sigorta – 3Q23
Hepiyi Sigorta – 3Q23 Monthly Premium Generation (mn TL) Assets Under Management (mn USD) 554 570 500 507 174 420 423 354 299 316 76 December '22 September '23 Premium Breakdown by Product Motor Own Liability Market Share 1.9% 2% 18% 0.7% 50% 30% December '22 September '23 Motor Third Party Motor Ow
Slide 15: Internet & Entertainment Segment
Internet & Entertainment Segment Internet & Entertainment Segment Summary Financials 3Q23 Overview TL million 3Q22 3Q23 Δ 9M22 9M23 Δ • Revenues grew by 73% to TL499 million in 3Q23. Revenue 288 499 73% 751 1,255 67% Gross Profit 144 234 62% 357 579 62% • The largest contributor was Kanal D Romania,
Slide 16: Real Estate Investments Segment
Real Estate Investments Segment Real Estate Investments Segment Summary Financials 3Q23 Overview TL million 3Q22 3Q23 Δ 9M22 9M23 Δ • Ongoing high occupancy rates led to 77% revenue growth to Revenue 135 239 77% 261 491 88% Gross Profit 57 83 45% 91 169 85% TL239 million. EBITDA 59 86 46% 77 153 100
Slide 17: Apendix
Apendix
Slide 18: Apendix – Financials
Apendix – Financials milyon TL 3Ç22 3Ç23 Δ 9A22 9A23 Δ TL million 2022 3Q23 Δ Gelirler 4,081 13,846 239% 9,423 29,123 209% Current Assets 30,280 45,878 52% Satılan Malın Maliyeti -2,851 -11,905 318% -6,521 -22,679 248% Non-Current Assets 12,189 13,543 11% Brüt Kar 1,230 1,941 58% 2,902 6,444 122% To
Slide 19: Apendix – Revenue Breakdown
Apendix – Revenue Breakdown TL million 3Q22 3Q23 Δ 9M22 9M23 Δ Electricity Generation 345 481 39% 863 1,072 24% Electricity Sales 345 481 39% 863 1,072 24% Industry & Trade 2,426 4,159 71% 5,102 9,993 96% Industry 1638 2558 56% 2482 6298 154% Foreign trade 231 841 265% 1264 1814 43% Packaging 538 73
Slide 20: Apendix – Net Cash / (Debt) Breakdown
Apendix – Net Cash / (Debt) Breakdown TL million 2022 3Q23 Δ Electricity Generation 208 81 -61% Industry & Trade -4,328 -4,221 -2% KAREL -2,287 -2,618 15% DITAS -259 -426 64% Doğan Dış Ticaret -938 -398 -58% Sesa Yatırım -789 -793 0% Other -55 14 -126% Automotive -564 -2,046 263% Finance & Investmen
Slide 21: Apendix – Segments & Major Group Companies – 3Q23 Financials
Apendix – Segments & Major Group Companies – 3Q23 Financials TL mn Petroleum Products Automotive Trade & Internet & Real Estate Electricity Generation Industry & Trade Financing & Investing Retailing Marketing Entertainment Investments Revenue n.a. 481 4,159 5,809 2,658 499 239 Revenue Shr. n.a. 3%
Slide 22: Electricity Generation Segment – Boyabat & Aslancık HPP
Electricity Generation Segment – Boyabat & Aslancık HPP Boyabat & Aslancık HPP Summary Financials* 3Q23 Overview Boyabat HPP Summary Financials • In 9M23, Boyabat HPP generated 399 GWh electricity, TL million 3Q22 3Q23 Δ 9M22 9M23 Δ indicating an increase of 15% Revenue 522 522 0% 962 1,214 26% • In
Slide 23: Investor Relations Contact
Investor Relations Contact Bora Tezgüler Investor Relations Director borat@doganholding.com.tr Kerimcan Uzun Investor Relations Manager kerimu@doganholding.com.tr www.doganholding.com.tr ir@doganholding.com.tr +90 216 556 90 00 22 Doğan Holding 3Q23 Earnings Presentation
Slide 24: Disclaimer
Disclaimer Doğan Şirketler Grubu Holding A.Ş. (“Doğan Holding”) has prepared this book (the “Book”) for the sole purpose of providing information relating to DoğanHolding (the “Information”). The contents of this Book is based on public information and on data provided by Doğan Holding management. N