Pinar Sut Mamulleri Sanayii A.s. · BIST:PNSUT

Pinar Sut Mamulleri Sanayii A.s — Pınar Süt Mamulleri Sanayii A.Ş. — Q3 2017 Earnings Presentation

17 slides from Pinar Sut Mamulleri Sanayii A.s's earnings presentation, 2017

  1. Slide 1: Pınar Süt Mamulleri Sanayii A.Ş. 2017-Q3 Earnings Presentation

    investorrelations@pinarsut.com.tr PINAR SÜT MAMULLERİ SANAYİİ A.Ş. 2017-Q3 Earnings Presentation

  2. Slide 2: 2017-Q3 Highlights

    1 2017-Q3 │ Highlights Dairy Consumer Raw Milk Financial Market* Price Index Prices Summary  Market turnover  Annual Consumer  The National Milk  Compared to the grew by 13.5%, YoY Price Index (CPI) was Council raw milk same quarter of  Its volume increased 11.2% at the end of base prices (lite

  3. Slide 3: 2017-Q3 Market Dynamics

    2 2017-Q3 │ Market Dynamics Annual Milk Production Inflation and Unprocessed Food Prices in Turkey (m Ton) 30% 27.3% CPI Unprocessed Food  In Q3-2017 Source: TSI 25% unprocessed food Year Milk Production Source: TSI, annual changes 20% prices inflation 2002 8.4 15.0% 15% was above 2003 10.6 10% gen

  4. Slide 4: 2017-Q3 Market Dynamics: Raw Milk Prices

    3 2017-Q3 │ Market Dynamics 2014 2015 2016 2017 Average Price Raw Milk Prices October 1, 2017 – 1.40TL Change (Annual)  The raw milk base prices 1.40 TL increased to 1.40 TL (liter) 7.8% in October 2017. 1.20 TL 0% 4.9%  Since the beginning of 1.00 TL 16.4% 2017, the raw milk base price has increa

  5. Slide 5: 2017-9M Market

    4 2017-9M │ Market Dairy Market*  In the first nine months of 2017, 5,300.0m TL 15.0% 14.1% 14.3% 4,300.0m TL 14.0% measurable dairy market* turnover 3,300.0m TL 13.0% grew by 12.3% and its volume expanded 4,669 m 2,300.0m TL 4,157 m 12.0% by 3.8%, YoY. TL TL 1,300.0m TL 11.0%  Total milk and tota

  6. Slide 6: 2017-Q3 New Products and Packages

    5 2017-Q3 │ New Products and Packages  Pınar Protein Milk and Pınar Protein Yoghurt  Pınar Ayran in newly  Pınar Latte designed package Art Barista Milk

  7. Slide 7: 2017-Q3 Sales Breakdown

    6 2017-Q3 │ Sales Breakdown Growth in traditional cheese segment Product Portfolio 2016-9M 2017-9M Net Sales  Pınar Cottage Cheese achieved a strong position in the market on short notice. It ranks second with a 16.9% market share in 2017-9M. (BIM excl.)

  8. Slide 8: 2017-Q3 Sales Breakdown: Channels

    7 2017-Q3 │ Sales Breakdown│ Channels Sales 6% Channels Direct 4% 11% Export 14% 83% YBP 82% Net Sales 2016-9M 2017-9M  Yaşar Birleşik Pazarlama, which is the distribution company of Yaşar Food Group, ranks 116th in 2016 in the top 500 list of Fortune magazine.

  9. Slide 9: 2017-Q3 Sales Breakdown: Export

    8 2017-Q3│ Sales Breakdown│ Export Exports Breakdown by Country (%)  In 2017-9M, $ 34.3 million export was 26.7 realized and the YoY growth rate was 10.7% 16.1 in dollar terms. The 15.4 12.4 11.9 share of exports in net 8.7 sales (TL) realized 4.9 3.9 13.6%. S.Arabia Qatar Kuwait UAE Iraq Cyprus Ba

  10. Slide 10: 2017-Q3 Income Statement

    9 2017-Q3 │ Income Statement (Million TL) 9M-2017 9M-2016 Difference % Change Net Sales 897.1 798.4 98.7 12.4 Cost of Goods Sold (755.3) (653.6) (101.6) 15.5 Gross Profit 141.9 144.8 (2.9) (2.0) R&D Expenses (8.9) (7.9) (1.0) 13.1 Sales, Distribution and Marketing (64.6) (53.7) (10.9) 20.4 Expenses

  11. Slide 11: 2017-Q3 Sales and Profitability

    10 2017-Q3 │ Sales and Profitability Net Sales (m TL) Gross Profit (m TL) 200.0 17.9% 18.1% 180.0 16.8% 16.1% 20.0% 160.0 15.8% 140.0 15.0% 120.0 100.0 191.1 940 1,011 1,068 897 80.0 157.7 162.4 144.8 141.9 10.0% 798 60.0 5.0% 40.0 20.0 0.0 0.0% 2014 2015 2016 2016-9M 2017-9M 2014 2015 2016 2016-9M

  12. Slide 12: 2017-Q3 Quarterly Profit Margins

    11 2017-Q3│ Quarterly Profit Margins Gross Profit EBIT 17.9% 6.1% 16.8% 16.1% 16.7% 5.8% 15.4% 5.3% 5.2% 12.3% 3.3% 2.8% 2014 2015 2016 2Q17 3Q17 3Q16 2014 2015 2016 2Q17 3Q17 3Q16 EBITDA* Net Profit 8.6% 9.3% 7.6% 7.6% 8.0% 5.9% 6.2% 5.2% 5.6% 4.8% 1.7% 2.0% 2014 2015 2016 2Q17 3Q17 3Q16 2014 2015

  13. Slide 13: 2017-Q3 Financial Ratios

    12 2017-Q3│ Financial Ratios Balance Sheet Ratios 2013/12 2014/12 2015/12 2016/12 2017/09 Current Ratio 1.51 1.42 1.16 1.23 1.13 Leverage Ratio 0.30 0.32 0.34 0.36 0.44 Current Borrowings/Total Borrowings (Fin.) 1.00 0.55 0.93 0.56 0.83 Net Fin. Borrowings/EBITDA 0.05 0.16 0.35 0.78 1.03 Net Fin. Bo

  14. Slide 14: Ownership, Participations, Auditors

    13 Ownership │ Participations│ Auditors Ownership Structure Auditors Financial Affairs Yaşar Holding A.Ş. 61% PricewaterhouseCoopers Free Float 39% Ernst&Young Production TSE Participations Breau Veritas Participation İştirak Share in Capital İştirak Oranı %% Yaşar Birleşik Pazarlama A.Ş. 31,8 Food

  15. Slide 15: Stock Performance

    14 Stock Performance 200 25,00 150 100,00 13,18 20,00 15,00 100 10,00 50 11,85 72,83 5,00 - 0,00 BİST-TÜM'e Relative togöre (sol eksen) XUTUM PNSUT (Sağ eksen)(TL) Corporate Governance Rating: 9.24 Borsa İstanbul Ticker Symbol: PNSUT Date of Listing: 03.02.1986

  16. Slide 16: Disclaimer and Contact Information

    15 Disclaimer and Contact Information This presentation does not constitute an offer or invitation to purchase or subscription for any securities and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. This presentation contains forward-l

  17. Slide 17: Thank you

    Thank you

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