Dogan Sirketler Grubu Holding A.s. · BIST:DOHOL
Dogan Sirketler Grubu Holding A.s — Q2 2024 Earnings Presentation
24 slides from Dogan Sirketler Grubu Holding A.s's earnings presentation, Sep 27, 2024
Slide 1: Doğan Holding 2Q24 Earnings Presentation
Doğan Holding 2Q24 Earnings Presentation September 27, 2024 0 Doğan Holding 2Q24 Earnings Presentation
Slide 2: 2Q24 Highlights
2Q24 Highlights A Period Marked by Cost Pressures • Increased financial contribution due to the rapid growth of Hepiyi Sigorta • Pressure on operating profitability due to rising TL-based costs High Net Cash Position and Solid Balance Sheet • USD 712 million solo net cash • USD 515 million consolida
Slide 3: Strategic Actions
Strategic Actions • We have taken significant steps towards reaching a valuation of USD 1 billion for our four Companies. • Galata Wind has increased its capacity to 297MW with ongoing investments and aims to reach 1,086MW by 2026 and after. • Hepiyi Sigorta has reached a portfolio size of USD 315 m
Slide 4: 2Q24 Financial Highlights
2Q24 Financial Highlights Revenue EBITDA* Net Income (TL mn) 2% YoY 68% YoY 93% YoY 15,721 4,552 15,377 8,703 1,438 580 2Q23 2Q24 2Q23 2Q24 2Q23 2Q24 • Improved revenue performance in our • Increased TL-based operational costs due • Decline in operating profitability (-) insurance and renewable ener
Slide 5: Mining Segment – Gümüştaş & Doku Mining
Mining Segment – Gümüştaş & Doku Mining Doğan Holding Acquires 75% Stakes in Gümüştaş & Doku Mining Key Points: Acquisition Overview: • Enhances Doğan Holding’s portfolio with entry into the Mining sector • Doğan Holding acquired 75% of Gümüştaş Mining and Doku Mining, gaining majority ownership of
Slide 6: Mining Segment – Market Overview
Mining Segment – Market Overview Türkiye Mining Exports1, USD million Türkiye Mining Exports2, thousand tons %7 %21 Marble Iron %1 Marble Iron %3 2.362k ton 2.300k ton $1.087M $212M %5 Copper Boron Copper Boron %40 $487M $191M 392k ton 483k ton %15 Zinc Lead 5.246 %9 Zinc Lead 31.722 $351M $194M %59
Slide 7: Electricity Generation Segment
Electricity Generation Segment Electricity Generation Segment Summary Financials 2Q24 Overview TL million 2Q23 2Q24 ∆ 1H23 1H24 ∆ Revenue 446 452 1% 1,077 977 -9% • Electricity generation in 1H24 rose 7% year-on-year, while Gross Profit 261 197 -25% 663 527 -21% prices fell 9%. EBITDA 360 313 -13% 8
Slide 8: Electricity Generation Segment – Galata Wind
Electricity Generation Segment – Galata Wind Galata Wind Summary Financials 2Q24 Overview TL million 2Q23 2Q24 ∆ 1H23 1H24 ∆ Revenue 446 452 1% 1,077 977 -9% • Despite total production increase of 28% YoY in Q2, falling Gross Profit 228 204 -11% 637 524 -18% prices led to only 1% growth in revenues.
Slide 9: Electricity Generation Segment – Galata Wind
Electricity Generation Segment – Galata Wind Total Installed Capacity - Present 297.2 MW Taşpınar Hybrid PV 16.4 MW Mersin RES 62,7 MW Çorum SPP 9.4 MW Şah RES 105 MW Erzurum SPP 24.5 MW Taşpınar RES 79 MW 362 MW (2024) Mersin WPP 39 MW Taşpınar Hybrid PV 25 MW 576 MW (2025) Alapınar WPP 13.6 MW Eur
Slide 10: Industry & Trade Segment
Industry & Trade Segment Industry & Trade Segment Summary Financials 2Q24 Overview TL million 2Q23 2Q24 ∆ 1H23 1H24 ∆ • Revenues decreased by 16% YoY in the second quarter due to Revenue 5,221 4,394 -16% 10,335 9,713 -6% demand contraction and exchange rate pressure on our group Gross Profit 1,576 1
Slide 11: Industry & Trade Segment – Karel Elektronik
Industry & Trade Segment – Karel Elektronik Karel Elektronik Summary Financials 2Q24 Overview TL million 2Q23 2Q24 ∆ 1H23 1H24 ∆ • A decline in revenues was experienced due to the contraction in the Revenue 3,135 2,655 -15% 5,842 6,035 3% white goods market and the shift in timing for corporate proj
Slide 12: Industry & Trade Segment – Sesa Ambalaj
Industry & Trade Segment – Sesa Ambalaj Sesa Ambalaj Summary Financials 2Q24 Overview TL million 2Q23 2Q24 ∆ 1H23 1H24 ∆ • Growth is being constrained by shrinking domestic demand and Revenue 828 849 3% 1,748 1,761 1% Gross Profit 257 144 -44% 442 337 -24% the decline in foreign currency-denominated
Slide 13: Industry & Trade Segment – Ditaş
Industry & Trade Segment – Ditaş Ditaş Summary Financials 2Q24 Overview TL million 2Q23 2Q24 ∆ 1H23 1H24 ∆ • Revenues decreased by 23% due to the contraction in the Revenue 475 363 -23% 936 758 -19% automotive sector and currency pressure. Gross Profit 18 5 -72% 33 14 -59% • Operational profitabilit
Slide 14: Automotive Segment – Doğan Trend Otomotiv
Automotive Segment – Doğan Trend Otomotiv Automotive Segment Summary Financials 2Q24 Overview TL million 2Q23 2Q24 ∆ 1H23 1H24 ∆ • Despite the increase in sales volume, revenues decreased by Revenue 5,347 4,074 -24% 8,473 12,847 52% Gross Profit 1,436 957 -33% 1,869 1,611 -14% 24% YoY in the second
Slide 15: Finance & Investment Segment
Finance & Investment Segment Finance & Investment Segment Summary Financials 2Q24 Overview TL million 2Q23 2Q24 ∆ 1H23 1H24 ∆ • Hepiyi Sigorta's strong growth performance has significantly Revenue 3,388 5,809 71% 6,768 9,428 39% and positively impacted segment revenues. PBT 8,646 1,954 -77% 8,017 4,
Slide 16: Hepiyi Sigorta – 2Q24
Hepiyi Sigorta – 2Q24 Monthly Premium Generation (mn TL) Assets Under Management (mn USD) 315 1,834 1,555 1,266 204 1,205 744 414 January February March April May June 2Q23 2Q24 Premium Breakdown by Product Casco Market Share 3% 2.1% 4% 18% 1.4% 75% Dec.23 2Q24 Motor Third Party Motor Own Damage Tra
Slide 17: Internet & Entertainment Segment
Internet & Entertainment Segment Internet & Entertainment Segment Summary Financials 2Q24 Overview TL million 2Q23 2Q24 ∆ 1H23 1H24 ∆ • Internet & Entertainment segment revenue in 2Q24 decreased Revenue 715 694 -3% 1,324 1,384 5% by 3% to 694 million TL. Gross Profit 339 280 -17% 608 588 -3% EBITDA
Slide 18: Real Estate Investments Segment
Real Estate Investments Segment Real Estate Investments Segment Summary Financials 2Q24 Overview TL million 2Q23 2Q24 ∆ 1H23 1H24 ∆ Revenue 258 299 16% 441 483 10% • Revenue in 2Q24 increased by 16% to 299 million TL, driven by Gross Profit 304 82 -73% 360 123 -66% strong occupancy rates and rental
Slide 19: Apendix
Apendix
Slide 20: Apendix – Financials
Apendix – Financials TL million 2Q23 2Q24 ∆ 1H23 1H24 ∆ TL million 2023 30.06.24 ∆ Sales 15,377 15,721 2% 28,418 34,834 23% Current Assets 72,298 71,012 -2% Cost of Goods Sold -10,501 -13,522 29% -22,055 -29,890 36% Non-Current Assets 44,227 44,103 0% Gross Profit 4,876 2,199 -55% 6,363 4,944 -22% T
Slide 21: Apendix
Apendix Revenue Breakdown Net Cash / (Debt) Breakdown TL million 2Q23 2Q24 ∆ 1H23 1H24 ∆ TL million 31.Dec.23 30.Jun.24 ∆ Electricity Generation 446 452 1% 1,077 977 -9% Electricity Generation -773 -468 -39% Electricity Sales 446 452 1% 1,077 977 -9% Industry & Trade -5,759 -5,564 -3% Industry & Tra
Slide 22: Apendix – Segments & Major Group Companies – 2Q24 Financials
Apendix – Segments & Major Group Companies – 2Q24 Financials Electricity Automotive Trade Financing Internet & Real Estate Industry & Trade Total Generation & Marketing & Investing Entertainment Investments TL million Revenue 452 4,394 4,074 5,809 694 299 15,721 Revenue Share 3% 28% 26% 37% 4% 2% 10
Slide 23: Investor Relations Contact
Investor Relations Contact Bora Tezgüler Investor Relations Director borat@doganholding.com.tr Özge Atay Investor Relations Manager ozgea@doganholding.com.tr www.doganholding.com.tr ir@doganholding.com.tr +90 216 556 90 00 22 Doğan Holding 2Q24 Earnings Presentation
Slide 24: Disclaimer
Disclaimer Doğan Şirketler Grubu Holding A.Ş. (“Doğan Holding”) has prepared this book (the “Book”) for the sole purpose of providing information relating to DoğanHolding (the “Information”). The contents of this Book is based on public information and on data provided by Doğan Holding management. N
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