Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi · BIST:DOAS
Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi — Doğuş Otomotiv Servis ve Ticaret A.Ş. — Q4 2023 Earnings Presentation
28 slides from Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi's earnings presentation, Mar 18, 2024
Slide 1: 4Q 2023 Analyst Briefing Presentation
4Q 2023 ANALYST BRIEFING PRESENTATION Kerem Talih 18 MARCH 2024 TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third pa
Slide 2: 2024 Launches Calendar
2024 Launches Calendar New Tiguan New Passat Variant ID. 4 Facelifted Golf ID. 7 ID. 3 Facelifted T-Cross ID. 5 New Transporter T7 Q1/2024 Q2/2024 ID. Buzz Q3/2024 Q4/2024 Q4 / Q4 Sportback Q6 e-tron A5 (B10) Avant / e-tron GT PI Q7 SUV PI2 New Taycan A3 allstreet e-tron Sedan (Facelift) RS 3 PI Cup
Slide 3: What Is New?
WHAT IS NEW? A distributorship agreement has been signed between B- B-SHIVER SHIVER S.R.L. and our Company. This agreement outlines S.R.L. the principles governing the sales and service of 'NOVAMARINE' brand 'Boats and Speedboats' in Türkiye, which will be carried out by our Company. The transaction
Slide 4: Key Takeaways
KEY TAKEAWAYS 67% (YoY) 33 (YoY) 174,577 684 1 mn Total sales1 Customer Touch Authorized Service (Including Skoda, wholesale) Point1 Vehicle Entries1 25% (YoY) 111% (YoY) 22% (YoY) 19,762 3,920 95.59 Income From Earnings Per Share1 Net Profit1 (Million TL) Associates1 (Million TL) Türkiye’s Second 9
Slide 5: Jan-Dec 2023 Doğuş Otomotiv Main Segment Sales (Retail)
JAN - DEC 2023 DOGUS OTOMOTIV MAIN SEGMENT SALES (Retail) 1.400.000 1.050.000 700.000 350.000 RETAIL MARKET 0 Premiu Retail PV LCV HCV m December 22 815.671 592.660 63.482 190.623 32.388 December 23 1.271.101 967.341 90.480 265.294 38.466 ∆ 56% 63% 43% 39% 19% 200.000 150.000 100.000 DOAS 50.000 PER
Slide 6: Competition (Retail - December)
COMPETITION (Retail - December) December 22/ RETAIL MARKET December 23 VW PC ranked 3rd in the 2021 2022 2023 ∆ cumulative passenger vehicle market with 7.4% market share. PASSENGER CAR % TOFAS/STELLANTIS 26,7 30,1 31,0 0,9 ŠKODA has a market share of RENAULT GROUP 20,7 22,5 18,6 -3,9 3.6%. DOĞUŞ OT
Slide 7: Jan-December 2023 Passenger Vehicle Market (%)
JAN - DECEMBER 2023 PASSENGER VEHICLE MARKET (%) (Retail) 35,0 31,0 30,1 29,3 PC market increased by 63% 30,0 yoy. 25,0 24,5 22,5 20,0 18,6 15,8 15,6 15,0 DOAS shares a 15.6% market 10,0 share at 3rd place. 7,1 5,5 5,0 0,0 The strongest competitors of DOAS in this segment are Tofas/Stellantis with 3
Slide 8: Jan-December 2023 Light Commercial Vehicle Market (%)
JAN - DECEMBER 2023 LIGHT COMMERCIAL VEHICLE MARKET (%) (Retail) 50,0 44,8 Light Commerical Vehicle 45,0 market increased by 39% 40,0 37,6 yoy. 34,7 35,0 30,0 26,9 25,0 20,0 DOAS shares a 6.7% market 15,9 14,8 15,0 share. 10,0 6,2 6,8 6,7 5,6 5,0 0,0 Leaders in the LCV market are Tofas/Stellantis wi
Slide 9: Jan-December 2023 Doğuş Otomotiv Brand Sales Performance
JAN - DECEMBER 2023 DOĞUŞ OTOMOTIV BRAND SALES PERFORMANCE WHOLESALE UNITS 12M22 12M23 Δ DOAS TOTAL 104.844 174.577 67% VW PC SKODA AUDI VW LCV SEAT +44% +92% +64% +69% +87% 71.846 36.274 23.132 17.842 11.089 50.015 14.100 18.916 10.568 5.933 12M22 12M23 12M22 12M23 12M22 12M23 12M22 12M23 12M22 12M
Slide 10: Jan-February 2024 Main Segment Sales (Retail)
JAN - FEBRUARY 2024 DOGUS OTOMOTIV MAIN SEGMENT SALES (Retail) 200.000 150.000 100.000 RETAIL MARKET 50.000 0 Retail PV Premium LCV HCV February 23 136.588 96.195 8.223 35.847 4.546 February 24 191.153 146.318 11.761 39.373 5.462 ∆ 40% 52% 43% 10% 20% 30.000 20.000 DOAS 10.000 PERFORMANCE 0 Sales PV
Slide 11: Jan-February 2024 Brand Sales Performance
JAN - FEBRUARY 2024 DOĞUŞ OTOMOTİV BRAND SALES PERFORMANCE WHOLESALE UNITS 2M 2023 2M 2024 Δ DOAS TOTAL 20.978 27.091 29% VW PC SKODA VW LCV AUDI SEAT +50% -3% +42% +12% +68% 2.913 1.401 9.361 6.636 6.458 5.289 2.591 6.247 3.729 834 2M 2023 2M 2024 2M 2023 2M 2024 2M 2023 2M 2024 2M 2023 2M 2024 2M
Slide 12: Competition (Retail - February)
COMPETITION (Retail - February) RETAIL MARKET YTD YTD 23 Year - End/ February 23/ 2022 2023 February 2023 February 2024 February 24 February 24 ∆ ∆ PASSENGER CAR % TOFAS/STELLANTIS 30,1 31,0 37,5 26,2 -4,8 -11,3 RENAULT GROUP 22,5 18,6 20,3 21,5 2,9 1,2 DOGUS OTOMOTIV 15,8 15,6 16,5 14,2 -1,5 -2,3 T
Slide 13: Financial Performance
FINANCIAL PERFORMANCE TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third parties. New Touareg
Slide 14: Financial Performance (mn TL)
FINANCIAL PERFORMANCE (mn TL) Revenue EBITDA Net Profit %69 %58 149.245 %25 27.847 88.487 19.762 17.647 15.865 24.306 3.275 2.336 2021 2022 2023 2021 2022 2023 2021 2022 2023 CapEx1 Total Assets Working Capital2 %-22 %37 %71 67.867 31.173 2.422 1.889 49.591 38.764 17.847 18.239 404 2021 2022 2023 20
Slide 15: Margins %
MARGINS % Gross Profit Margin OpEx/Sales EBITDA Margin 20,9% 21,5% 3,7% 19,9% 18,7% 14,5% 13,5% 1,8% 2,0% 2021 2022 2023 2021 2022 2023 2021 2022 2023 EBIT Margin Net Profit Margin Wholesale Market Sales1 18,9% 17,8% 17,9% 138.303 12,7% 13,2% 94.839 85.928 9,6% 2021 2022 2023 2021 2022 2023 2021 202
Slide 16: Breakdown of Revenue & Gross Profit Margin (%)
BREAKDOWN OF REVENUE & GROSS PROFIT MARGIN (%) Breakdown of Revenue (%) Breakdown of Gross Profit Margin (%) 99,46% 99,63% 97,87% 98,56% 2,13% 1,44% 0,54% 0,37% 12M 2022 12M 2023 12M 2022 12M 2023 Segment Based Gross Profit Margins (%) 83% 84% 21% 21% 12M 2022 12M 2023 16/28 TR : Kurumsal bilgiler i
Slide 17: Income Statement
INCOME STATEMENT TL’000 31.12.2023 31.12.2022 Δ Wholesale Sales Volume (excl. Skoda, 138.303 85.928 61% incl. Scania) Revenue 149.244.881 88.487.132 69% Direct cost of revenue -117.114.933 -70.014.682 67% Gross profit 32.129.948 18.472.450 74% Gross profit margin 21,5% 20,9% Total Operational Expens
Slide 18: Income from Associates
INCOME FROM ASSOCIATES TL’000 31.12.2023 31.12.2022 Δ Associates Yüce Auto (Škoda) 1.640.939 714.167 130% VDF Servis 1.564.689 890.981 76% TÜVTÜRK N&S (Consolidated) 652.251 267.038 144% Doğuş Teknoloji 44.021 -6.883 -740% Doğuş Sigorta 19.035 -3.946 -582% Total 3.920.935 1.861.357 111% 18/28 TR : K
Slide 19: Balance Sheet
BALANCE SHEET TL’000 31.12.2023 31.12.2022 Δ Inventories: Number of vehicles increased ASSETS 67.866.864 49.591.167 37% from 6,968 units on 31.12.2022 to 11,683 units Cash and cash equivalents 7.643.608 5.574.548 37% on 31.12.2023. Trade receivables 12.879.339 5.525.660 133% Inventories 10.649.598 7
Slide 20: Financing Costs
FINANCING COSTS TL’000 31.12.2023 31.12.2022 Δ Financing Cost, net 5.191.154 2.417.920 115% Finance Expenses 5.898.375 2.587.147 128% Interest Expense on Borrowings 1.555.542 1.347.688 15% Commission Expenses on Letters of Guarantee 219.708 182.161 21% Foreign Exchange Losses on Borrowings 3.973.367
Slide 21: Financial Performance
FINANCIAL PERFORMANCE Million TL 31.12.2023 31.12.2022 Δ Working capital 31.173 18.239 71% Net Cash Position 1 -2.366 -661 258% Receivable Turnover (day) 31 23 38% Inventory Turnover (day) 33 37 -11% Payable Turnover (day) 27 32 -16% 1 Net Cash Position = Cash and Cash Equivalents - Bank Borrowings
Slide 22: Doğuş Otomotiv Sustainability Management Approach
Doğuş Otomotiv Sustainability Management Approach ✓ We adopt a systematic approach to sustainability management aimed at understanding and proactively mitigating risks associated with our activities. ✓ The decisions we make about our business include carefully calculated risks and sensitive manageme
Slide 23: Environmental, Social and Governance Highlights
• VW AG @Retail Pilot •Inclusion in the BIST • Being The First Country Program Sustainability 25 Index Company in Turkey to Declare Its Human • Creation of the D-Charge Rights Priorities •Ranked 4th Among 295 Brand for the Companies Worldwide in Establishment and the Retail Sector (Based Operation o
Slide 24: 12 Years of Consistently Increasing Remarkable Performance
Corporate Governance Principles Compliance Rating 12 Years of Consistently Increasing Remarkable Performance Corporate Governance Principles Compliance Rating Score 9.65 9.67 9.70 9.74 9.76 9.63 9.64 9.42 9.51 9.25 9.05 8.53 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 The 2nd Company
Slide 25: Corporate Sustainability Rating
Corporate Sustainability Rating Corporate Sustainability Rating Score1 Breakdown of Corporate Sustainability Rating Score 86,55 84,56 84,16 80,28 73,69 74,70 Governance Yönetişim 79,87 63,66 39,66 66,54 94,83 94,88 2020 2021 2022 2023 11.03.2024 Social Sosyal 94,85 95,02 92,00 Breakdown of Rating Me
Slide 26: 2024 Expectations
2024 EXPECTATIONS Sustainability and Mobility Digitalization Climate Change Priorities Operational Efficiency and Optimum Service Areas Profitability Cautious Expenditure Management OEM Strategy: Maintain represented brands’ competitive position. Total Automotive Market Investment Expenditure (PC+LC
Slide 27: Thank You – Q & A
THANK YOU – Q & A TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third parties. Scania SUPER
Slide 28: TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak
TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third parties.
Doğuş Otomotiv Servis ve Ticaret A.Ş. — Q4 2023 Earnings Presentation on 6ix