Koc Holding A.s. · BIST:KCHOL
Koc Holding A.s — Q1 2019 Earnings Presentation
17 slides from Koc Holding A.s's earnings presentation, May 9, 2019
Slide 1: Koç Holding 1Q19 Earnings Presentation
Koç Holding 1Q19 Earnings Presentation 9 May 2019
Slide 2: Focus on Sustainability and Resilience
Focus on Sustainability and Resilience Koç Holding Dividend Income (TL mn) Koç Holding Net Cash Position ($ mn) 2 758 ~2x 2,692 2 2,3371 ~626 550 427 ~418 1,228 1,291 3 ~-132 2016 2017 2018 2019 YE18 1Q19 KH Net Dividend Flow Adj. 1Q19 (Apr'19) New level of dividend income Solid net cash position ma
Slide 3: Disciplined Approach
Disciplined Approach Strong US$ 2.71 bn gross cash → 78% in US$, 22% in TL US$ 2.25 bn total debt Cash Position (Solo) US$ +418 mn1 net cash (US$ +626 mn including YKB AT1) 3 Eurobonds totaling US$ 2.25 bn Stable - Mar’19: US$ 750 mn, 6 yrs, 6.5% coupon (to prefinance US$750mn Eurobond due in Apr’20
Slide 4: Energy
Energy Sales Volume, Domestic Market (mn tons) Aygaz (‘000 tons) -5% Sales Volume Ranking: #1 Energy Segment -4% 489 472 Share in Share in Combined Consolidated 236 Operating Profit 2 Net Income 241 +4% -2% 12 8 -1% 166 154 25% -17% 74 69 Diesel Jet Fuel Gasoline LPG 1Q18 1Q19 2M18 3.46 0.64 0.34 0.
Slide 5: Automotive
Automotive Sales Units, Domestic Market (‘000) Export Units, Turkey (‘000) Koç Koç Share 13% 20% 54% 56% 24% 18% 22% 28% Share 44% 42% Automotive Segment -45% -7% Share in Share in -44% 345 Combined Consolidated 320 Operating Profit 1 Net Income -46% -63% 29% 40% Passenger Light Heavy TOTAL Cars Com
Slide 6: Consumer Durables
Consumer Durables Sales Units1, Market (mn) Export Units, Turkey (mn) +1% Consumer Durables Segment -3% 4.9 4.8 Share in Share in -11% Combined Consolidated +3% Operating Profit 2 Net Income +5% 11% 13% Western Eastern Turkey S. Africa Europe Europe 1Q18 1.69 8.83 2.89 0.32 1Q18 1Q19 1Q19 1.51 8.93
Slide 7: Finance
Finance YKB Profitability YKB Operational Performance Net Income (NI) & ROATE Cost/Income1 CoR Pre-Provision Profit (PPP) (TL mn) Finance Segment +40% 3,193 14.2% 13.3% Share in Share in 35% 2.56% Combined Consolidated PPP 2,274 34% 2.19% Operating Profit Net Income NI 1,244 1,241 38% 59% 1Q18 1Q19
Slide 8: Group’s Overall Financial Performance
Group’s Overall Financial Performance Consumer TL mn, 1Q19 Energy Automotive Finance Other Total Durables Combined Revenues 1 35,506 16,272 7,886 12,150 3,580 75,395 y/y 38% 12% 28% 45% 35% 31% Combined Operating Profit2 1,060 1,191 449 1,584 -121 4,163 y/y -4% 17% 13% -2% 139% 2% Combined Profit Be
Slide 9: Consolidated Net Income
Consolidated Net Income 1 1 Consolidated Net Income (TL mn) Normalized Normalized -3% -24% y/y -182% -28% +39% - +95% -32% 1,141 28 0 20 779 - 291 - 119 1Q18 Energy Auto Cons. Durables Finance Other 1Q19 1Q18 1Q19 Other Other Energy 5% Energy 2% 14% -17% Auto 40% Finance Auto 40% Finance 38% 59% Con
Slide 10: Wrap-Up
Wrap-Up Diversified portfolio, proactive management approach and disciplined risk policies providing sustainable performance Maintaining balance sheet strength supported also by Eurobond issuance FX and FX linked revenues ensuring resilience Investments ongoing to ensure sustainability and g
Slide 11: Disclaimer
Disclaimer This presentation does contain forward-looking statements that reflect the Company management’s current views with respect to certain future events based on the base-case assumptions. Although it is believed that the expectations reflected in these statements are reasonable, they may be a
Slide 12: ANNEX
ANNEX www.koc.com.tr] 12
Slide 13: Consolidated Main Financial Indicators
Consolidated Main Financial Indicators 1Q19 TL mn 1Q18 1Q19 Y/Y € mn $ mn Revenues 24,588 34,262 39% 5,625 6,393 Gross Profit 3,506 4,389 25% 721 819 Operating Profit 2,132 1,945 -9% 319 363 Profit Before Tax 1,622 843 -48% 138 157 Taxes (net) -85 -126 47% -21 -23 Net Income Before Non-controlling I
Slide 14: Combined Net Income – Consolidated Net Income
Combined Net Income – Consolidated Net Income Combined Net Income (TL mn) 1 y/y -154% -15% +24% -1% -109% -29% Normalized -26% 1 Normalized +0.2% 2,900 2,047 1,275 1,266 951 811 441 173 215 60 -6 -240 Energy Auto Cons. Durables Finance Other Total Consolidated Net Income (TL mn) 1 y/y -182% -28% +39
Slide 15: Unlisted Companies
Unlisted Companies FY18 Koç Hol di ng Revenues Opera ting Profi t1 EBITDA Book Va l ue (SHE) TL mn Di rect Sha re 2017 2018 2017 2018 2017 2018 2017 2018 Arçel i k LG Kl i ma 5.00% 793 955 21 55 31 70 259 277 Bi l kom 69.94% 1,728 2,331 50 107 51 108 83 116 Düzey 31.15% 1,688 1,759 17 -3 18 1 69 17
Slide 16: Shareholding Structures
Shareholding Structures Koç Holding Koç Family: 64.3%1 Free Float: 26.5% Vehbi Koç Foundation: 7.3% Koç Pension Fund: 2% Consumer Energy Automotive Finance Other Durables Tüpraş Ford Otosan Arçelik Yapı Kredi Bank Tat Gıda SPV: 51% KH: 38% KH: 41% KFS: 81.9% KH: 44% Free float: 49% Ford: 41% Other K
Slide 17: For Further Questions, Please Contact :
For Further Questions, Please Contact : investorrelations@koc.com.tr www.koc.com.tr IR Application Nursel İlgen, CFA, Coordinator Investor Relations nurseli@koc.com.tr +90 216 531 0414 Gizem Poyraz, Manager Investor Relations gizemb@koc.com.tr +90 216 531 0533 Neslihan Aycıl, Manager Investor Relati