Teknosa Ic Ve Dis Ticaret As · BIST:TKNSA
Teknosa Ic Ve Dis Ticaret As — Teknosa İç ve Dış Ticaret A.Ş. — Q4 2017 Earnings Presentation
19 slides from Teknosa Ic Ve Dis Ticaret As's earnings presentation, Feb 20, 2018
Slide 1: Teknosa 4Q17 Results Investor Presentation
TEKNOSA İÇ VE DIŞ TİCARET A.Ş INVESTOR PRESENTATION Investor Teknosa İç ve Dış Ticaret A.Ş. Presentation 4Q17 Results «Turkey’s Leading Electronics Retailer» Ümit Kocagil, CFO H.Şenay Akıncı Özertan, Finance and Investor Relations Manager February 20, 2018
Slide 2: Agenda
TEKNOSA İÇ VE DIŞ TİCARET A.Ş INVESTOR PRESENTATION Agenda Results at a Glance Financial Overview Year-end Guidance 2
Slide 3: Main messages
TEKNOSA İÇ VE DIŞ TİCARET A.Ş INVESTOR PRESENTATION Strongest top-line figure Despite the reduction in net sales area, Main since 4Q15 22% LfL in 4Q17 leading to 26% top line growth messages Turned a profit for the fifth 20 mn net profit was driven by maintaining straight quarter margins while g
Slide 4: CCI falls marginally in 4Q17
TEKNOSA İÇ VE DIŞ TİCARET A.Ş INVESTOR PRESENTATION After CCI hit its highest level with 72,8 in May, it reached the lowest level with 65,1 in December. CCI remained shaky as a result of concerns about CCI falls feeble investments, higher inflation and weak currency. Progress in structural reforms
Slide 5: 4Q17 Results
TEKNOSA İÇ VE DIŞ TİCARET A.Ş INVESTOR PRESENTATION 13K sqm YoY 4Q17 reduction in the net Net Sales Area Results (‘000 m2) 123 sales area as a result of optimization in less 110 efficient stores. 4Q16 4Q17 Sustained its great performance by Net Sales Total 26% YoY sales 984 (TL mn) Revenues 778 gr
Slide 6: Electronics Retail Market and Teknosa
TEKNOSA İÇ VE DIŞ TİCARET A.Ş INVESTOR PRESENTATION Electronics The panelmarket grew by 16% YoY, reaching TL 54bn in 2017 Retail Market Technical Super Stores (TSS) channel recorded 7% YoY growth in the same period to TL 10bn in the 5 major categories and Teknosa YoY growth in all categories –
Slide 7: Like-for-Like Sales Growth Trend
TEKNOSA İÇ VE DIŞ TİCARET A.Ş INVESTOR PRESENTATION Quarterly Like-for-Like Trend Like-for-Like In line with our FY17 Sales Growth expectations, FY17 LfL standing at 17%, Trend comparing favorably 26% 20% 19% 22% against 13% in FY16. 14% 6% 6% 8% 2% -3% -2% -1% 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q1
Slide 8: Income Statement Summary
TEKNOSA İÇ VE DIŞ TİCARET A.Ş INVESTOR PRESENTATION (TL mn ) 4Q16 3Q17 4Q17 YoY (%) QoQ (%) FY16 FY17 YoY (%) Income Net Sales 779 882 984 26% 12% 3.074 3.398 11% Statement Gross Profit 143 160 170 19% 6% 501 619 24% Gross Profit Margin 18,3% 18,1% 17,3% -1,0pp -0,9pp 16,3% 18,2% 1,9pp Summary EBITD
Slide 9: Income Statement Summary (Adjusted)
TEKNOSA İÇ VE DIŞ TİCARET A.Ş INVESTOR PRESENTATION (TL mn ) 4Q16 3Q17 4Q17 YoY (%) QoQ (%) Income Net Sales 779 882 984 26% 12% Statement Gross Profit 143 160 170 19% 6% Summary Adj. Gross Profit 143 160 177 24% 10% Adj. Gross Profit Margin 18,3% 18,1% 18,0% -0,3pp -0,2pp (Adjusted) EBITDA Adj. EBI
Slide 10: Focus on omnichannel strategy boosted e-commerce revenue
TEKNOSA İÇ VE DIŞ TİCARET A.Ş INVESTOR PRESENTATION Focus on teknosa.com Revenues (TLmn) omnichannel strategy boosted 42% 29% e-commerce revenue in 4Q17 63 191 148 44 4Q16 4Q17 FY16 FY17 Online sales increased significantly in 4Q17, thanks to marketing campaigns for Black Friday and 11.11 Single D
Slide 11: Continuing improvement in OPEX/Sales
TEKNOSA İÇ VE DIŞ TİCARET A.Ş INVESTOR PRESENTATION OPEX/Sales (%) Continuing improvement in OPEX/Sales ratio 16% 15% 14% 13% FY16 FY17 4Q16 4Q17 Sales increasing stronger than OPEX improved Opex/Sales ratio Structural efficiency of lower OPEX/Sales ratio allowing higher EBITDA in 2017 11
Slide 12: Working Capital and Cash Position
TEKNOSA İÇ VE DIŞ TİCARET A.Ş INVESTOR PRESENTATION Working Capital Requirement (TL mn) Working TL – 303 mn TL – 154 mn TL - 200 mn By focusing on Capital and 446 418 effective working 353 Cash Position 50 52 56 capital management, WCR is down by TL 46 712 652 681 mn to TL-200 mn in 4Q17 vs 3Q17 4Q1
Slide 13: Working Capital
TEKNOSA İÇ VE DIŞ TİCARET A.Ş INVESTOR PRESENTATION Working Working Capital Days Capital -31 -14 -21 Days of NWC 87 77 73 Days of TR 56 Days of Inventory 49 48 Days of Pay 6 7 5 4Q16 3Q17 4Q17 Negative working capital allows Teknosa to generate positive cash flow in tandem with growth 13
Slide 14: Agenda
TEKNOSA İÇ VE DIŞ TİCARET A.Ş INVESTOR PRESENTATION Agenda Results at a Glance Financial Overview Year-end Guidance 14
Slide 15: Balance Sheet Summary
TEKNOSA İÇ VE DIŞ TİCARET A.Ş INVESTOR PRESENTATION Assets (in TL mn) Dec-16 Sep-17 Dec-17 Balance Current Assets Cash and Cash Equivalents 574 156 541 30 555 73 Sheet Due From Related Parties Trade Receivables 2 49 1 50 3 54 Inventories 353 446 418 Summary Other Current Assets 14 13 7 Non-current A
Slide 16: Agenda
TEKNOSA İÇ VE DIŞ TİCARET A.Ş INVESTOR PRESENTATION Agenda Results at a Glance Financial Overview Year-end Guidance 16
Slide 17: 2018 Full Year Financial Guidance
TEKNOSA İÇ VE DIŞ TİCARET A.Ş INVESTOR PRESENTATION 2018 Full Year Due to uncertainties in global and domestic markets, we prefer to share Financial our 2018 guidance on a wide range Guidance Accordingly, we expect to see a high single digit or low double digit LfL growth for 2018 We expect ou
Slide 18: Thank You
TEKNOSA İÇ VE DIŞ TİCARET A.Ş INVESTOR PRESENTATION Thank You Contact Information: H.Şenay Akıncı Özertan– Finance and Investor Relations Manager +90 (216) 468 37 46 sozertan@teknosa.com IR web page: http://yatirimci.teknosa.com/homepage IR e-mail: yatirimciiliskileri@teknosa.com 18
Slide 19: Disclaimer
TEKNOSA İÇ VE DIŞ TİCARET A.Ş INVESTOR PRESENTATION Disclaimer The information and opinions contained in this document have been compiled or arrived at by Teknosa from sources believed to be reliable and in good faith, but no representation or warranty, expressed or implied, is made as to their accu
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