Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi · BIST:DOAS
Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi — Doğuş Otomotiv Servis ve Ticaret A.Ş. — Q3 2023 Earnings Presentation
26 slides from Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi's earnings presentation, Nov 10, 2023
Slide 1: 3Q 2023 Analyst Briefing Presentation
3Q 2023 ANALYST BRIEFING PRESENTATION Kerem Talih 10 NOV 2023 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 part
Slide 2: What Is New?
WHAT IS NEW? A letter of intent has been signed between Wielton S.A. and Wielton our Company to establish an agreement that outlines the S.A. principles for conducting the sales and servicing of "Wielton" brand "semi-trailer products" in Turkey. Our subsidiary, Doğuş Şarj Sistemleri Pazarlama ve Tic
Slide 3: Key Takeaways
KEY TAKEAWAYS 69% (YTD) (YoY) 167% (Yearly Payment) 125,729 214.8% 5,750 Total sales1 Stock return1 Dividend payment2 (Including Skoda, wholesale) (Million TL) 179% (YTD) 346% (YTD) 54% (YTD) 15,266 2,350 731 Income from Net profit1 (Million TL) CapEx1 (Million TL) associates1 (Million TL) 158% (YTD
Slide 4: Jan-Sep 2023 Dogus Otomotiv Main Segment Sales (Retail)
JAN - SEP 2023 DOGUS OTOMOTIV MAIN SEGMENT SALES (Retail) 1.000.000 800.000 600.000 400.000 RETAIL MARKET 200.000 0 Retail PV Premium LCV HCV September 22 541.852 399.224 39.350 121.306 21.322 September 23 885.341 666.890 62.319 190.685 27.766 ∆ 63% 67% 58% 57% 30% 150.000 120.000 90.000 60.000 DOAS
Slide 5: Competition (Retail - September)
COMPETITION (Retail - September) YTD YTD 22 Year End/ September 22/ RETAIL MARKET September September September September 23 VW PC ranked 3rd in the 2021 2022 2022 2023 23 ∆ ∆ cumulative passenger vehicle market with 7.8% market PASSENGER CAR % share. TOFAS/STELLANTIS 26,7 30,1 29,2 33,8 3,7 4,7 REN
Slide 6: Jan-September 2023 Passenger Vehicle Market (%) (Retail)
JAN - SEPTEMBER 2023 PASSENGER VEHICLE MARKET (%) (Retail) 40,0 PC market increased by 67% yoy. 35,0 33,8 30,0 29,2 26,8 25,0 24,1 21,9 20,0 17,8 16,9 DOAS shares a 16.0% market 16,0 15,0 share at 3rd place. 10,0 7,9 5,6 5,0 The strongest competitors of 0,0 DOAS in this segment are Tofas/Stellantis
Slide 7: Jan-September 2023 Light Commercial Vehicle Market (%) (Retail)
JAN - SEPTEMBER 2023 LIGHT COMMERCIAL VEHICLE MARKET (%) (Retail) Light Commerical Vehicle 50,0 market increased by 57% 45,0 43,4 yoy. 40,0 38,2 35,0 33,8 29,8 30,0 25,0 DOAS shares a 6.4% market 20,0 share. 16,2 15,0 13,5 10,0 6,9 7,1 6,4 4,7 5,0 Leaders in the LCV market 0,0 are Tofas/Stellantis w
Slide 8: Jan-September 2023 Doğuş Otomotiv Brand Sales Performance
JAN - SEPTEMBER 2023 DOĞUŞ OTOMOTIV BRAND SALES PERFORMANCE WHOLESALE UNITS 9M22 9M23 Δ DOAS TOTAL 74.261 125.729 69% VW PC SKODA AUDI VW LCV CUPRA +36% +104% +96% +119% +225% 53.694 25.853 39.430 16.544 12.302 12.656 7.114 8.424 5.628 2.192 9M22 9M23 9M22 9M23 9M22 9M23 9M22 9M23 9M22 9M23 SEAT SCA
Slide 9: Jan-October 2023 Dogus Otomotiv Main Segment Sales (Retail)
JAN - OCTOBER 2023 DOGUS OTOMOTIV MAIN SEGMENT SALES (Retail) 1.000.000 800.000 600.000 400.000 200.000 RETAIL MARKET 0 Retail PV Premium LCV HCV October 22 609.942 446.664 46.393 139.088 24.190 October 23 989.480 749.501 69.351 209.441 30.538 ∆ 62% 68% 49% 51% 26% 150.000 120.000 90.000 60.000 DOAS
Slide 10: Jan-October 2023 Doğuş Otomotiv Brand Sales Performance
JAN - OCTOBER 2023 DOĞUŞ OTOMOTİV BRAND SALES PERFORMANCE WHOLESALE UNITS 10M 2022 10M 2023 Δ DOAS TOTAL 84.601 139.921 65% VW PC SKODA AUDI VW LCV SEAT +39% +90% +81% +78% +73% 59.214 42.566 28.827 18.101 13.886 8.242 15.136 10.017 7.823 4.774 10M 2022 10M 2023 10M 2022 10M 2023 10M 2022 10M 2023 1
Slide 11: Competition (Retail - October)
COMPETITION (Retail - October) RETAIL MARKET YTD YTD 22 Year - End/ October 22/ 2021 2022 October 2022 October 2023 October 23 October 23 ∆ ∆ PASSENGER CAR % TOFAS/STELLANTIS 26,7 30,1 29,1 32,9 2,8 3,8 RENAULT GRUP 20,7 22,5 22,0 18,2 -4,3 -3,8 DOGUS OTOMOTIV 18,9 15,8 16,8 15,7 -0,1 -1,1 HYUNDAI 6
Slide 12: 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. Taigo
Slide 13: Financial Performance (mn TL)
FINANCIAL PERFORMANCE (mn TL) Revenue EBITDA Net Profit %169 %197 %179 82.647 17.758 15.266 46.781 8.222 7.848 30.712 5.975 5.479 24.306 3.275 2.336 2021 2022 9M2022 9M2023 2021 2022 9M2022 9M2023 2021 2022 9M2022 9M2023 CapEx1 Total Assets Working Capital2 %125 %166 1.219 46.401 29.137 %54 731 20.6
Slide 14: Margins %
MARGINS % Gross Profit Margin OpEx/Sales EBITDA Margin 22,5% 22,1% 23,5% 5,6% 21,5% 19,5% 17,6% 14,5% 3,3% 13,5% 2,5% 1,8% 2021 2022 9M2022 9M2023 2021 2022 9M2022 9M2023 2021 2022 9M2022 9M2023 EBIT Margin Net Profit Margin Wholesale Market Sales1 21,0% 17,8% 18,5% 99.876 16,8% 94.839 18,8% 85.928
Slide 15: Breakdown of Revenue & Gross Profit Margin (%)
BREAKDOWN OF REVENUE & GROSS PROFIT MARGIN (%) 1 Breakdown of Revenue (%) Breakdown of Gross Profit Margin (%) 9M 2023 73% 16% 11% 9M 2023 67% 18% 15% 9M 2022 72% 12% 16% 9M 2022 65% 11% 24% Segment Based Gross Profit Margins (%) 32% 26% 22% 9M 2023 34% 20% 20% 9M 2022 15/26 1 Mainly TR : Kurumsal b
Slide 16: Income Statement Q-on-Q and Y-on-Y Comparisons
INCOME STATEMENT Q-on-Q and Y-on-Y Comparisons TL’000 3Q 2023 2Q 2023 Δ 3Q 2023 3Q 2022 Δ Wholesale Sales Volume (excl. Skoda, incl. 37.955 35.457 7% 37.955 20.505 85% Scania) Revenue 36.054.799 27.142.251 33% 36.054.799 11.857.895 204% Direct cost of revenue -27.839.130 -20.510.468 36% -27.839.130
Slide 17: Income Statement
INCOME STATEMENT TL’000 30.09.2023 30.09.2022 Δ Revenue 82.646.723 30.712.276 169% Direct cost of revenue -63.255.046 -23.929.764 164% Gross profit 19.391.677 6.782.512 186% Gross profit margin 23,5% 22,1% Total Operational Expenses -2.042.732 -1.012.976 102% EBIT 17.348.945 5.769.536 201% EBIT marg
Slide 18: Income from Associates
INCOME FROM ASSOCIATES TL’000 30.09.2023 30.09.2022 Δ Associates Yüce Auto (Škoda) 1.153.623 299.424 285% vdf Servis 776.477 75.781 925% TÜVTÜRK N&S (Consolidated) 360.150 148.556 142% Doğuş Teknoloji 45.466 -2.964 1634% Doğuş Sigorta 14.479 5.605 158% Total 2.350.195 526.402 346% 18/26 TR : Kurumsa
Slide 19: Balance Sheet
BALANCE SHEET TL’000 30.09.2023 31.12.2022 Δ Inventories: Number of vehicles increased ASSETS 46.401.013 20.665.180 125% from 6,968 units on 31.12.2022 to 15,515 units on 30.09.2023. Cash and cash equivalents 8.455.856 3.366.150 151% Trade receivables 8.415.048 3.331.831 153% Financial Liabilities:
Slide 20: Financing Costs
FINANCING COSTS TL’000 30.09.2023 30.09.2022 Δ Financing Cost, net 1.975.846 545.594 262% Finance Expenses 2.324.051 584.668 297% Interest Expense on Borrowings 686.403 444.941 54% Commission Expenses on Letters of Guarantee 110.430 61.581 79% Foreign Exchange Losses on Borrowings 1.444.166 27.683 5
Slide 21: Financial Performance
FINANCIAL PERFORMANCE Million TL 30.09.2023 31.12.2022 Δ Working capital 29.137 10.968 166% Net Cash Position 1 1.838 841 119% Receivable Turnover (day) 28 26 7% Inventory Turnover (day) 53 43 23% Payable Turnover (day) 35 36 -4% 1 Net Cash Position = Cash and Cash Equivalents - Bank Borrowings - Em
Slide 22: Integrated Management Systems
Integrated Management Systems 22/26teams and 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 third parties.
Slide 23: 23/26 teams and
23/26teams and 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 third parties.
Slide 24: 2023 Expectations
2023 EXPECTATIONS Sustainability and Mobility Digitalization Climate Change Priorities Operational Efficiency and Service Areas Optimum Profitability Cautious Expenditure Management OEM Strategy: Maintain represented brands’ competitive position. Total Automotive Market Investment Expenditure (PC+LC
Slide 25: 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 26: 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. — Q3 2023 Earnings Presentation on 6ix