Slide 1: Pınar Süt Earnings Presentation 2020-H1
Pınar Süt Earnings Presentation 2020-H1
Slide 2: Pınar Süt at a Glance
2020-H1 PINAR SÜT AT A GLANCE 1
Slide 3: Highlights
2020-H1 HIGHLIGHTS 967.3 24.1% 31.5 million TL Net Sales million TL Net Sales Growth Net Profit 21.1 16.9 1,008 million dollar million TL Employees in Export Sales Capex 2020-H1 ˗ In the first 5 months of 2020 cow milk production occurred to 4.2 million tons in Turkey, increased by 3.8% compared to
Slide 4: Market Dynamics: Production and Cost
2020-H1 MARKET DYNAMICS PRODUCTION AND COST Number of Milked Animals and Raw Milk Production Production of Dairy Products in Turkey Milked animals, million head TSI, thousand tons 32.0 1,661 Milk production, million tons 30.6 28.5 1,469 2018 24.6 25.5 25.2 23.9 1,199 2019 23.0 1,136 22.1 2019-5M 20.
Slide 5: Market Dynamics: Consumption and Market
2020-H1 MARKET DYNAMICS CONSUMPTION AND MARKET Share of Packaged Products Packaged Products Penetration IPSOS IPSOS 60.4% 96.8 96.6 97.0 96.7 55.3% 47.4% 39.6% Milk Cheese Milk (UHT) Cheese 2019-H1 2020-H1 Total Milk and Total Cheese Turnover and Volume +9.4% Nielsen, BIM Excl. +45.7% 342.4 312.9 mi
Slide 6: Market Position
2020-H1 MARKET POSITION Market Share of Pınar in Total Milk and Total Cheese Categories Nielsen, BIM Excl., Sales Value 10.2% 10.4% - In the first half of the year, total milk and 23.5% 23.6% total cheese categories have grown and market shares of Pınar Süt increased in both total milk and total che
Slide 7: Market Position
2020-H1 MARKET POSITION - All production facilities of Pınar Süt, which fulfilled the criteria in the guide prepared by the Turkish Standards Institute (TSE), were entitled to receive the “Covid-19 Safe Production Certificate”. - For the first time in its sector, the “Accessible Communication Line”
Slide 8: Net Sales Breakdown
2020-H1 FINANCIALS NET SALES BREAKDOWN *Other Based on 8% Product Groups Dairy Products *Fruit juice, 92% sauce, other Based on Sales Export Channel 14% 21.1 million Dollar S. Arabia 28.8% Kuwait 14.5% Direct Iraq 13.2% 2% UAE 9.6% Azerbaijan 4.9% Bahrain 4.6% Cyprus 4.6% YBP *Yaşar Birleşik Pazarla
Slide 9: Income Statement
2020-H1 FINANCIALS INCOME STATEMENT 01/01/20 01/01/19 (Million TL) 6/30/2020 6/30/2019 Difference Change Net Sales 967.3 779.3 188.0 24.1% Cost of Goods Sold (831.4) (677.7) (153.7) 22.7% Gross Profit 135.9 101.7 34.3 33.7% R&D Expenses (6.9) (6.6) (0.3) 4.9% Sales, Distribution and Marketing (65.3)
Slide 10: Sales and Profitability – Annually
2020-H1 FINANCIALS SALES AND PROFITABILITY – ANNUALLY Net Sales Gross Profit million TL 15.9% 15.6% 250.0 16.1% 18.0% 17.9% 12.2% 13.0% 14.1% 16.0% 200.0 14.0% 231.6 12.0% 150.0 203.1 10.0% 1,488 1,665 8.0% 100.0 191.1 196.8 1,240 162.4 6.0% 1,011 1,068 967 135.9 779 50.0 101.7 4.0% 2.0% 0.0 0.0% 20
Slide 11: Sales and Profitability – Quarterly
2020-H1 FINANCIALS SALES AND PROFITABILITY – QUARTERLY Net Sales Gross Profit million TL 1,665 15.9% 15.6% 15.0% 1,488 13.0% 12.2% 12.1% 1,240 460 507 400 2017 2018 2019 2Q19 2Q20 1Q20 2017 2018 2019 2Q19 2Q20 1Q20 EBITDA Net Profit 8.0% 5.4% 7.6% 6.9% 6.0% 3.8% 5.3% 5.0% 3.3% 2.1% 0.9% 0.1% 2017 20
Slide 12: Financial Ratios and Capital Expenditures
2020-H1 FINANCIALS FINANCIAL RATIOS 2016/12 2017/12 2018/12 2019/12 2020/06 Current Ratio 1.23 1.21 1.07 1.23 1.17 Leverage Ratio 0.36 0.43 0.44 0.42 0.45 Current Borrowings/Total Borrowings (Fin.) 0.56 0.64 0.81 0.44 0.62 Net Fin. Borrowings/EBITDA 0.76 1.69 1.15 1.57 2.30 Net Fin. Borrowings/Equit
Slide 13: Ownership Structure
2020-H1 OWNERSHIP STRUCTURE Shareholder Share Rate (%) Share Amount(TL) YAŞAR HOLDİNG A.Ş. 61.41 27,603,901.57 OTHER 38.59 17,347,149.68 Total 100.00 44,951,051.25 The company’s shares are traded at Borsa İstanbul Main Market-Group 1 under the ticker symbol PNSUT. 12
Slide 14: Disclaimer and Contact Information
2020-H1 DISCLAIMER AND CONTACT INFORMATON BİLGİLERİ 13