Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi · BIST:DOAS
Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi — Doğuş Otomotiv Servis ve Ticaret A.Ş. — Q2 2024 Earnings Presentation
28 slides from Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi's earnings presentation, Aug 29, 2024
Slide 1: 2Q 2024 Analyst Briefing Presentation
2Q 2024 ANALYST BRIEFING PRESENTATION Kerem Talih AUGUST 29, 2024 1/28 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 t
Slide 2: What Is New?
WHAT IS NEW? A distributorship agreement has been signed between Aerofoils GmbH and our Company, establishing the principles Aerofoils for our Company's sales and services of "Aerofoil" brand GmbH "e-foil products" in Türkiye. Our company has applied to the Capital Markets Board (CMB) to issue comme
Slide 3: Key Takeaways
KEY TAKEAWAYS1 4% (YoY) +39% (YoY) +140,025 (YoY) 83,137 14,117 2,386,887 Total sales Commercial Vehicle Vehicle Park (Including Skoda, wholesale) Sales (Excluding Skoda) (Wholesale, LCV+HCV) -58% (YoY) -110% (YoY) -62% (YoY) 5,261 -239 24.00 Income From Earnings Per Share Net Profit (Million TL) As
Slide 4: Jan-June 2024 Main Segment Sales (Retail)
JAN - JUNE 2024 DOĞUŞ OTOMOTİV MAIN SEGMENT SALES (Retail) 600.000 450.000 300.000 150.000 RETAIL MARKET 0 Retail PV Premium LCV HCV June 23 576.451 431.372 39.039 125.997 19.082 June 24 595.094 462.955 39.465 115.026 17.113 ∆ 3% 7% 1% -9% -10% 100.000 80.000 60.000 40.000 DOAS 20.000 PERFORMANCE 0
Slide 5: Competition (Retail - June)
COMPETITION (Retail - June) RETAIL MARKET 23 Year End/ June 2022 2023 YTD June YTD June June 24 2023/2024 VW PC ranked 4th in the 2023 2024 ∆ ∆ cumulative passenger vehicle PASSENGER CAR % market with 6.6% market share. TOFAŞ/STELLANTIS RENAULT GROUP 30,1 22,5 31,0 18,6 37,1 18,6 25,4 18,8 -5,7 0,2
Slide 6: Jan-June 2024 Passenger Vehicle Market
JAN - JUNE 2024 PASSENGER VEHICLE MARKET (%) (Retail) 40,0 37,1 PC market increased by 7% 35,0 33,6 yoy. 30,0 26,1 25,4 25,0 20,0 18,6 18,8 15,9 DOAS shares a 14.7% market 15,0 14,7 share at 3rd place. 10,0 7,5 5,0 2,3 The strongest competitors of 0,0 DOAS in this segment are Tofaş/Stellantis with 2
Slide 7: Jan-June 2024 Light Commercial Vehicle Market
JAN - JUNE 2024 LIGHT COMMERCIAL VEHICLE MARKET (%) (Retail) 50,0 46,0 Light Commercial Vehicle 45,0 market decreased by 9% yoy. 40,0 40,0 35,0 29,3 30,0 25,8 25,0 DOAS shares a 9.8% market 20,0 17,4 share at 3rd place. 15,0 12,6 9,8 10,0 6,7 7,0 5,4 5,0 The strongest competitors of 0,0 DOAS in this
Slide 8: Jan-June 2024 Brand Based Sales Performance
JAN - JUNE 2024 DOĞUŞ OTOMOTİV BRAND BASED SALES PERFORMANCE WHOLESALE UNITS 6M23 6M24 Δ DOAS TOTAL 80.081 83.137 4% VW PC SKODA VW LCV AUDI SEAT 0% +8% +45% -31% +18% 31.340 31.426 19.621 12.395 18.160 11.057 8.567 7.666 4.666 5.483 6M23 6M24 6M23 6M24 6M23 6M24 6M23 6M24 6M23 6M24 CUPRA SCANIA POR
Slide 9: Jan-July 2024 Main Segment Sales (Retail)
JAN - JULY 2024 DOĞUŞ OTOMOTİV MAIN SEGMENT SALES (Retail) 800.000 600.000 400.000 RETAIL MARKET 200.000 0 Retail PV Premium LCV HCV July 23 693.096 518.788 46.303 152.540 21.768 July 24 691.656 536.351 46.559 135.667 19.638 ∆ 0% 3% 1% -11% -10% 100.000 75.000 50.000 DOAS PERFORMANCE 25.000 0 Sales
Slide 10: Jan-July 2024 Brand Based Sales Performance
JAN - JULY 2024 DOĞUŞ OTOMOTİV BRAND BASED SALES PERFORMANCE WHOLESALE UNITS 7M 2023 7M 2024 Δ DOAS TOTAL 101.397 100.573 -0.8% VW PC SKODA VW LCV AUDI SEAT -10% +12% +33% -28% +28% 43.899 39.503 23.453 13.575 20.892 13.057 10.171 9.378 5.554 7.100 7M 2023 7M 2024 7M 2023 7M 2024 7M 2023 7M 2024 7M
Slide 11: Competition (Retail - July)
COMPETITION (Retail - July) RETAIL MARKET YTD YTD 23 Year End/ July 23/ 2022 2023 July 2023 July 2024 July 24 July 24 ∆ ∆ PASSENGER CAR % TOFAŞ/STELLANTIS 30,1 31,0 36,4 25,2 -5,9 -11,3 RENAULT GRUP 22,5 18,6 17,9 18,3 -0,3 0,4 DOĞUŞ OTOMOTİV 15,8 15,6 16,5 15,5 -0,2 -1,1 CHERY 0,0 4,2 2,9 7,7 3,5 4
Slide 12: Financial Performance
FINANCIAL PERFORMANCE 12/28 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. Cupra Formentor
Slide 13: Financial Performance (mn TL)
FINANCIAL PERFORMANCE (mn TL) Revenue 1 EBITDA 1 Net Profit 1 149.245 27.847 -10% -43% 19.762 -58% 84.414 18.174 75.924 12.451 10.444 5.261 2023 6M2023 6M2024 2023 6M2023 6M2024 2023 6M2023 6M2024 CapEx1,2 Total Assets Working Capital3 1.889 38.883 %70 84.653 -8% -16% 1.317 772 32.661 77.892 2023 6M
Slide 14: Margins %
MARGINS % Gross Profit Margin1 OpEx/Sales 1 EBITDA Margin 1 21,5% 23,6% 21,5% 6,0% 18,5% 18,7% 3,7% 13,8% 2,9% 2023 6M2023 6M2024 2023 6M2023 6M2024 2023 6M2023 6M2024 EBIT Margin 1 Net Profit Margin 1 Wholesale Market Sales2 14,8% 20,7% 13,2% 138.303 17,8% 12,6% 6,9% 63.516 61.921 2023 6M2023 6M202
Slide 15: Income Statement (Y/Y Comparison)
INCOME STATEMENT (Y/Y Comparison) TL’000 30.06.2024 30.06.2023 Δ Wholesale Sales Volume (excl. Skoda, incl. 63.516 61.921 3% Scania) Revenue 75.924.121 84.413.894 -10% Direct cost of revenue -61.849.207 -64.525.399 -4% Gross profit 14.074.914 19.888.495 -29% Gross profit margin 18,5% 23,6% Total Ope
Slide 16: Income Statement (Q/Q Comparisons)
INCOME STATEMENT (Q/Q Comparisons) TL’000 2Q 2024 1Q 2024 Δ 2Q 2024 2Q 2023 Δ Wholesale Sales Volume (excl. Skoda, incl. 33.839 29.677 14% 33.839 35.457 -5% Scania) Revenue 38.936.261 36.987.860 5% 38.936.261 48.045.799 -19% Direct cost of revenue -31.450.397 -30.398.810 3% -31.450.397 -36.376.959 -
Slide 17: Income/Loss from Associates
INCOME/LOSS FROM ASSOCIATES TL’000 30.06.2024 30.06.2023 Δ Associates TÜVTÜRK N&S (Consolidated) 472.349 352.090 34% Yüce Auto (Škoda) 38.620 1.446.135 -97% Doğuş Teknoloji 28.544 24.826 15% Doğuş Sigorta 2.835 16.310 -83% VDF Servis -781.769 672.802 -216% Total -239.421 2.512.163 -110% 17/28 TR : K
Slide 18: Balance Sheet
BALANCE SHEET TL’000 30.06.2024 31.12.2023 Δ Inventories: Number of vehicles increased ASSETS 77.891.548 84.653.454 -8% from 11,683 units on 31.12.2023 to 18,810 units on 30.06.2024. Cash and cash equivalents 4.758.406 9.534.223 -50% Trade receivables 10.069.630 16.064.991 -37% TL'000 30.06.2024 31.
Slide 19: Financing Costs
FINANCING COSTS TL’000 30.06.2024 30.06.2023 Δ Financing Cost, net 729.026 4.290.605 -83% Finance Expenses 1.950.625 4.650.115 -58% Interest Expense on Borrowings 1.035.174 890.237 16% Foreign Exchange Losses on Borrowings 663.748 3.552.132 -81% Commission Expenses on Letters of Guarantee 130.832 11
Slide 20: Financial Performance
FINANCIAL PERFORMANCE Million TL 30.06.2024 31.12.2023 Δ Working capital 32.661 38.883 -16% Net Cash Position 1 -5.894 -2.951 100% Receivable Turnover (day) 24 31 -23% Inventory Turnover (day) 53 33 59% Payable Turnover (day) 36 27 34% 1 Net Cash Position = Cash and Cash Equivalents - Bank Borrowing
Slide 21: Doğuş Otomotiv Sustainability Strategy
Doğuş Otomotiv Sustainability Strategy Doğuş Otomotiv Sustainable Process Management 21/28 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
Slide 22: TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak
22/28 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.
Slide 23: Environmental, Social, Economic Highlights
ESRS Reporting • VW AG @Retail Pilot • Being The First Company in •Inclusion in the BIST Country Program Turkey to Declare Its Human Sustainability 25 Index Rights Priorities • Creation of the D-Charge Brand for the Establishment •Implementation of •Ranked 4th Among 295 and Operation of Charging Cor
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 Breakdown of Corporate Corporate Sustainability Rating Score1 Sustainability Rating Score 86,55 84,56 83,37 72,00 80,28 74,70 Governance Yönetişim 79,87 63,66 39,66 66,54 94,53 94,88 Social Sosyal 94,85 2020 2021 2022 2023 19.08.2024 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 27/28 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
28/28 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.
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