Bim Birlesik Magazalar A.s. · BIST:BIMAS

Bim Birlesik Magazalar A.s — Q3 2015 Earnings Presentation

16 slides from Bim Birlesik Magazalar A.s's earnings presentation, Sep 30, 2015

  1. Slide 1: For the 3 months to 30 September 2015

    For the 3 months to 30 September 2015 TOPTAN FIYATINA PERAKENDE SATIS ee

  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: Headlines for Q3 2015

    HEADLINES FOR Q3 2015  Strong growth in third quarter continued: Net Sales at 4.447,6 Mio TL (+18,5% to 3Q 2015) EBITDA at 230,5 Mio TL (+31% to 3Q 2015) Net income at 168,9Mio TL (+46% to 3Q 2015)  Like for Like sales up 11,2%  Continued expansion – 56 new stores in Turkey, 11 in Morocco and 11

  4. Slide 4: Quarterly Net Sales and Gross Profit

    QUARTERLY NET SALES AND GROSS PROFIT TL Million 5000 Net Sales 1000,0 Gross Profit 4500 900,0 4.447,6 4.351,1 800,0 4000 731,7 4.094,2 710,0 3.754,3 634,3 700,0 3.752,7 3500 589,4 563,2 600,0 3000 500,0 2500 400,0 2000 300,0 1500 200,0 3Q14 4Q14 1Q15 2Q15 3Q15 Gross Margin 15,7% 15,0% 15,5% 16,3% 16

  5. Slide 5: Quarterly EBITDA and EBIT

    QUARTERLY EBITDA AND EBIT TL Million 250 230,5 EBITDA 200 218,4 186,9 EBIT 187,0 176,6 150 176,5 148,5 141,3 141,0 100 105,3 50 0 3Q14 4Q14 1Q15 2Q15 3Q15 EBITDA 4,7% 3,8% 4,6% 5,0% 5,2% EBIT 3,8% 2,8% 3,6% 4,1% 4,2% EBITDA – EARNINGS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTIZATION EBIT – EARNIN

  6. Slide 6: Quarterly Net Income

    QUARTERLY NET INCOME TL Million 180 Net Income 160 168,9 140 149,6 120 123,5 115,4 100 80 82,4 60 40 20 0 3Q14 4Q14 1Q15 2Q15 3Q15 Net Income 3,1% 2,2% 3,0% 3,4% 3,8% Margin 6

  7. Slide 7: Like for Like Sales Increase YTD – September 2015

    LIKE FOR LIKE SALES INCREASE Quarterly YTD – SEPTEMBER 2015 2014 – 9 2015 - 2014 Q3 2015 Q3 INCREASE INCREASE Months 9 Months Like For Like Like For Like 3.220,1 3.579,9(**) 11,2% 9.441,1 10.522,2(**) 11,5% Sales (Mil TL) Sales (Mil TL) Like For Like Like For Like 12,92 14,11 9,2% 12,37 13,63 Basket

  8. Slide 8: Private Label Sales

    PRIVATE LABEL SALES YTD 2014 YTD 2015 BRANDED PRIVATE BRANDED 20,7% LABEL 21,1% 68,7% PRIVATE LABEL 69,1% EXCLUSIVE EXCLUSIVE 5,6% 5,3% SPOT SPOT 4,5% 5,0% 8

  9. Slide 9: Low-Capex Business Model

    LOW-CAPEX BUSINESS MODEL TL Million Quarterly CAPEX % of Net Sales % of Net Sales 150 7 6 130,3 113,1 5 100 107,7 104,8 4 3 3,0% 3,0% 50 58,4 2,6% 2,4% 2 1,6% 1 0 0 3Q14 4Q14 1Q15 2Q15 3Q15 9

  10. Slide 10: Strong Store Growth Continues

    STRONG STORE GROWTH CONTINUES Number of Stores 5.000 Stores in Turkey 4.750 4.822 4.878 4.635 4.500 4.502 4.406 4.250 4.000 3.750 3.500 3.250 3.000 3Q14 4Q14 1Q15 2Q15 3Q15 10

  11. Slide 11: Foreign Operations & FİLE - Highlights

    FOREIGN OPERATIONS & FİLE - HIGHLIGHTS MOROCCO EGYPT • 11 Stores opened in 3Q 2015 • 11 Stores opened in 3Q 2015 and we have 269 to date and we have 127 to date • Targeting to be around 285 • Second warehouse to be stores at the end of the year opened early 2016 FİLE • 6 stores open to date • Target

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  14. Slide 14: IFRS Income Statement

    IFRS INCOME STATEMENT 3 months ended 30 September YTD 9 months ended 30 September TL million 2014 2015 2014 2015 Net Sales 3.752,7 4.447,6 10.708,8 12.892,9 (COGS) (3.163,3) (3.715,9) (9.045,9) (10.816,9) Gross Profit 589,4 731,7 1.662,9 2.076,0 Total SG&A (412,9) (501,2) (1.185,3) (1.440,1) EBITDA

  15. Slide 15: IFRS Balance Sheet

    IFRS BALANCE SHEET As of 30 September TL million Q3 2014 Q3 2015 Intangible assets 4,7 5,1 Tangible assets 1.166,9 1.467,7 Financial Investments (Long Term) 157,5 157,5 Other non-current assets 22,0 26,2 Total non-current assets 1.351,1 1.656,5 Trades receivable 431,2 498,6 Inventories 874,1 982,5 P

  16. Slide 16: IFRS Cash Flow

    IFRS CASH FLOW 3 months ended 30 September YTD 9 months ended 30 September TL million 2014 2015 2014 2015 Net Income 115,4 168,9 312,9 442,0 D&A 35,2 43,6 101,0 123,9 Other non-cash items (3,5) (2,4) (15,9) (9,8) Funds from operations 147,1 210,1 398,0 556,1 Change in net working capital (129,9) 93,

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