Bim Birlesik Magazalar A.s. · BIST:BIMAS

Bim Birlesik Magazalar A.s — Q1 2013 Earnings Presentation

17 slides from Bim Birlesik Magazalar A.s's earnings presentation, Mar 31, 2013

  1. Slide 1: For the 3 months to 31 March 2013

    For the 3 months to 31 March 2013

  2. Slide 2: Notice

    NOTICE The information contained in this document has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. Neither t

  3. Slide 3: Headlines for Q1 2013

    HEADLINES FOR Q1 2013 Strong growth in first quarter continued: NET SALES at 2.795 Mio TL (15%+ on Q1 2012) EBITDA at 143,3 Mio TL (8%+ on Q1 2012) NET INCOME at 97,2 Mio TL (7%+ on Q1 2012) Like for Like sales up 5,8% Continued expansion – 80 new stores in Turkey, 10 in Morocco and in April first 1

  4. Slide 4: Quarterly Net Sales and Gross Profit

    QUARTERLY NET SALES AND GROSS PROFIT TL Million 3000 Net Sales 600 Gross Profit 2700 2.795,5 2.581,7 500 2400 2.543,8 2.428,0 2.352,9 2100 434,4 400 408,1 1800 402,8 369,6 378,7 1500 300 1200 th 15 % les Grow Sa 200 900 600 100 300 0 0 1Q12 2Q12 3Q12 4Q12 1Q13 Gross Margin 15,6% 15,7% 15,8% 15,8% 15

  5. Slide 5: Quarterly EBITDA and EBIT

    QUARTERLY EBITDA and EBIT TL Million EBITDA 5,5% 4,4% 5,0% 5,0% 5,1% EBIT 4,6% 3,4% 4,0% 4,0% 4,2% EBITDA – EARNINGS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTIZATION EBIT – EARNINGS BEFORE INTEREST AND TAX 5

  6. Slide 6: Quarterly Net Income

    QUARTERLY NET INCOME TL Million Net Income 100 97,2 90,8 86,4 85,0 80 69,1 60 % Gro wth 7 40 nc o me Net I 20 0 1Q12 2Q12 3Q12 4Q12 1Q13 Net income 3,7% 2,9% 3,4% 3,3% 3,5% margin 6

  7. Slide 7: Like for Like Sales Increase

    LIKE FOR LIKE SALES INCREASE Quarterly 2012 Q1 2013 Q1 INCREASE Like For Like 2.168,5 2.320,4 7,0% Sales (Mil TL) (**) Like For Like 10,78 10,98 1,8% Basket (TL) Like For Like Customer 762,7 801,4 5,1% Traffic (Per store/per day) * * Note: adjusted by one less trading day in Feb-13 * Note: calculate

  8. Slide 8: Private Label Sales Continue to Grow

    PRIVATE LABEL SALES CONTINUE TO GROW 1Q12 1Q13 BRANDED BRANDED 21,5% PRIVATE PRIVATE 21,6% LABEL LABEL 67,6% 68,0% EXCLUSIVE 6,2% EXCLUSIVE 5,1% SPOT SPOT 4,6% 5,4% 8

  9. Slide 9: Low-Capex Business Model

    LOW-CAPEX BUSINESS MODEL TL Million % of Net Sales 9

  10. Slide 10: Store Growth Continues

    STORE GROWTH CONTINUES Number of Stores 4000 Stores in Turkey 3.735 3.655 3500 3.584 3.527 3.380 3000 th 1 0,5% Grow 2500 2000 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 10

  11. Slide 11: BIM Morocco Update

    BIM MOROCCO UPDATE 31.3.2012 30.6.2012 30.9.2012 31.12.2012 31.3.2013 No. of Stores 85 96 103 110 120 10 new stores in 1Q 2013 and we have 125 to date Second region to be opened in South Casablanca to accelerate number of stores Increased share capital by 31,5 ML TRY in cash 11

  12. Slide 12: BIM Egypt Update

    BIM EGYPT UPDATE BIM Stores LLC in Egypt is developing successfully First 14 stores opened in April Our target for 2013 is to open more than 30 stores We will increase share capital by 25 ML TL to support growth 12

  13. Slide 13: 13

    13

  14. Slide 14: IFRS Financials

    IFRS FINANCIALS

  15. Slide 15: IFRS Income Statement

    IFRS INCOME STATEMENT 3 months ended 31 March TL million 2012 2013 Net Sales 2.428,0 2.795,5 (COGS) (2.049,3) (2.361,1) Gross Profit 378,7 434,4 Total SG&A (246,1) (291,1) EBITDA 132,6 143,3 D&A (21,8) (26,1) EBIT 110,8 117,2 Net financial income/(expenses) 2,4 4,3 Other income/(expenses) 2,0 1,8 PB

  16. Slide 16: IFRS Balance Sheet

    IFRS BALANCE SHEET As at 31 March TL million Q1 2012 Q1 2013 Intangible assets 2,7 3,3 Tangible assets 703,6 873,4 Other non-current assets 29,8 27,6 Total fixed assets 736,1 904,3 Trades receivable 297,7 319,3 Inventories 427,1 507,1 Prepayment and other assets 78,7 119,4 Trades payable (1.066,6) (

  17. Slide 17: IFRS Cash Flow

    IFRS CASH FLOW 3 months ended 31 March TL million 2012 2013 Net Income 90,8 97,2 D&A 21,8 26,1 Other non-cash items (3,1) (4,6) Funds from operations 109,5 118,7 Change in net working capital (40,4) 63,5 Operating cash flow 69,1 182,2 Capital expenditures (79,5) (56,7) Proceeds from sales of PPE 2,0

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