Teknosa Ic Ve Dis Ticaret As · BIST:TKNSA
Teknosa Ic Ve Dis Ticaret As — Teknosa — FY2024 Earnings Presentation
20 slides from Teknosa Ic Ve Dis Ticaret As's earnings presentation, February 2025
Slide 1: FY 2024 Earnings Results Presentation
FY 2024 EARNINGS RESULTS PRESENTATION
Slide 2: Disclaimer Regarding IAS 29
Disclaimer Regarding IAS 29 The Company’s financial statements dated 31.12.2024, which were disclosed to the public on 24.02.2025, have been subject to inflation accounting within the framework of the “Financial Reporting in Hyperinflationary Economies Standard” (IAS 29). Financial figures given in
Slide 3: Achieved strong operational performance and maintained efficient WC management
Achieved strong operational performance and maintained efficient WC management in line with our long-term commitment to financial sustainability Growth Across all Key Indicators FY’24 Key Highlights Revenue growth exceeded both market and inflation supported by omnichannel strategy Significant impro
Slide 4: FY 2024 Results
FY 2024 RESULTS Teknosa | Genel (Halka Açık) | Public
Slide 5: Panel market recorded real growth of less than 1%
Figures are shown w/ IAS 29 Due to a slowdown in overall market growth, the panel market recorded a real growth of less than 1% compared to the previous year Market Revenue1 Demand Growth by Categories1 Inflation-indexed, Billion TL Real, Y-o-y% 5% Panel 32% 0.6% 1% 0% Market 944 950 -3% 716 -8% Whi
Slide 6: Omnichannel strategy drove topline growth above panel market and inflation
Figures are shown w/ IAS 29 By leveraging our effective omnichannel strategy, we achieved topline growth that surpassed both both the panel market and inflation Teknosa Total Revenues* E-Commerce GMV Revenue by (Mn TL) (Mn TL) Segments Teknosa has shown a higher growth Due to techonline market contr
Slide 7: Gross profit continued to improve, with decreasing OPEX ratio
Gross profit continued to improve, driven by efficient inventory management, FBN and supply chain optimization, along with a decreasing OPEX ratio Figures are shown w/ IAS 29 Revenues (Bn TL) OPEX margin +1.6% 68.3 69.4 -79 bps +58 bps 11.9% 10.7% 10.7% +12.3% 10.6% 9.9% 10.2% 18.3 15.1 17.0 19.0 1Q
Slide 8: High credit card interest rates drive increased financial expenses
Figures are High interest rates on credit cards remain the main factor driving shown w/ IAS 29 increased financial expenses, but mitigation efforts are proving effective Credit commission rates have increased ….yet measures have been the pressure on the bottom line taken to decrease financial costs…
Slide 9: NWC and cash generation improved year-over-year
Figures are shown w/ IAS 29 NWC and cash generation improved year-over-year, reaching their highest levels by year-end, driven by a series of effective actions NWC (TL mn) Net Cash (TL Mn) excl. IFRS 16 incl. 340 TL Mn Bond Inventories Trade Payables Trade Receivables 3,171 2,074 1,700 2,166 12,074
Slide 10: Initiatives proved effective in reducing net financial expenses
As a result, the implemented initiatives and measures have proven effective in reducing net financial expenses Total Net Financial Expenses* *Excluding IFRS 16 adjustment • CONTINUED FOCUS ON OPTIMIZED INVENTORY MANAGEMENT 5.6% 6.2% 5.7% 4.4% 3.6% • DRIVING BETTER INVENTORY TURNOVER TO SUPPORT Q4 23
Slide 11: Net loss attributable to significantly higher finance expenses
Figures are shown w/ IAS 29 Net loss was attributable to significantly higher finance expenses 2023 Net Profit w/ IAS 29 1,079 EBITDA Difference 1,354 Net Discount Expenses & Other Difference 2,143 Mostly driven Credit Card Expenses by high 1,061 İnterest rates Net Interest Expenses Decrease 783 Mon
Slide 12: Full-Year 2024 Realizations vs. Guidance (w/o IAS 29)
Full-Year 2024 Realizations vs. Guidance (w/o IAS 29) 2024A 2024E Our Guidance Beklentilerimiz 2023T Realizations vs. Expectations 2024T w/o IAS 29 w/o IAS 29 Due to intense market competition and E-Commerce GMV* 11.7 bln TL 15 bln TL Company’s profitablity focused, controlled (2023: 8.4 bln TL) str
Slide 13: Our Focus Areas for 2025
Driving revenue growth of complementary products and services while maintaining a profitable retail mix and optimizing gross margin Continuing effective inventory management and disciplined balance sheet management Mitigating financing costs, while expanding payment and Our Focus consumer loan optio
Slide 14: Q&A
Q&A TEKNOSA INVESTOR RELATIONS Ümit Kocagil CFO Dilek Aktaş Head of Finance & IR Sibel Turhan IR Manager Investor Relations e-mail: yatirimciiliskileri@teknosa.com Teknosa | Genel (Halka Açık) | Public
Slide 15: Appendix
APPENDIX Teknosa | Genel (Halka Açık) | Public
Slide 16: Key Financials w/o IAS 29
Key Financials w/o IAS 29 Revenues (Mn TL) EBITDA (Mn TL) Net Income (Mn TL) +2% 68,322 69,436 +58% 61,236 +83% 6,295 1,079 863 38,696 3,438 +87% 8.9% 2,911 -574 1,557 -1,420 FY23 FY24 FY23 FY24 FY23 FY24 FY23 FY24 FY23 FY24 FY23 FY24 Nominal Nominal Indexed Indexed Nominal Nominal Indexed Indexed N
Slide 17: NWC & CAPEX w/o IAS 29
NWC & CAPEX w/o IAS 29 Net Working Capital (TL Mn) CAPEX (TL Mn) Inventories Trade Receivables Trade Payables 840 863 800 10,122 12,074 10,685 7,803 931 1,208 1,345 1,208 487 9,914 13,683 13,682 14,313 -1,180 -894 -1,790 -2,352 Dec 23 Dec 24 Dec 23 Dec 24 FY23 FY24 FY23 FY24 Nominal Nominal Indexed*
Slide 18: Income Statement w/ IAS 29
Income Statement w/ IAS 29 4Q24 4Q23 Change (%) FY24 FY23 Change (%) Net Sales (Mn TL) 19,042 20,520 -7% 69,436 68,322 2% Gross Profit (Mn TL) 2,814 2,382 18% 8,913 7,283 22% Gross Profit Margin (%) 14.8% 11.6% 3.2% 12.8% 10.7% 2.2% Opex/Sales (%) 9.9% 9.7% 0.2% 10.7% 10.2% 0.6% EBITDA (Mn TL) 1,307
Slide 19: Balance Sheet w/ IAS 29
Balance Sheet w/ IAS 29 Dec 24 Dec 23 Assets (Mn TL) Current Assets 14,604 17,942 Cash and Cash Equivalents 2,557 3,954 Trade Receivables 1,208 1,345 Inventories 10,685 12,074 Other Current Assets 154 569 Non-current Assets 3,572 3,268 Property, Plant and Equipment 1,313 1,086 Intangible Assets 527
Slide 20: Disclaimer
Disclaimer The information and opinions contained in this document have been compiled by Teknosa İç ve Dış Ticaret A.Ş. (“Teknosa”) from sources believed to be reliable and in good faith, but no representation or warranty, expressed or implied, is made as to their accuracy, completeness or correctne