Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi · BIST:DOAS
Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi — Doğuş Otomotiv Servis ve Ticaret A.Ş. — Q2 2023 Earnings Presentation
26 slides from Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi's earnings presentation, Aug 22, 2023
Slide 1: 2Q 2023 Analyst Briefing Presentation
2Q 2023 ANALYST BRIEFING PRESENTATION Kerem Talih 22 AUG 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: Key Takeaways
KEY TAKEAWAYS 58% (YoY) (YoY) 178% (YoY) 80,081 %134.5 2,500 Total sales1 Stock return1 Dividend advance (Including Skoda, wholesale) payment (Million TL) 227% (YoY) 293% (YoY) 48% (YoY) 9,059 1,430 433 Income from Net profit1 (Million TL) CapEx1 (Million TL) associates1 (Million TL) 33 (YoY) 146% (
Slide 3: Jan-June 2023 Doğuş Otomotiv Main Segment Sales (Retail)
JAN - JUNE 2023 DOGUS OTOMOTIV MAIN SEGMENT SALES (Retail) 600.000 450.000 300.000 150.000 RETAIL MARKET 0 Retail PV Premium LCV HCV June 22 370.649 278.282 25.739 79.622 12.745 June 23 575.451 430.372 39.039 125.997 19.082 ∆ 55% 55% 52% 58% 50% 100.000 75.000 50.000 DOAS 25.000 PERFORMANCE 0 Sales
Slide 4: Competition (Retail - June)
COMPETITION (Retail - June) VW PC ranked 4th in the RETAIL MARKET 2021 2022 YTD June 2022 YTD June 2023 22 Year End/ June 23 June 22/ June 23 cumulative passenger ∆ ∆ vehicle market with 7.3% PASSENGER CAR % market share. TOFAŞ/STELLANTIS RENAULT GRUP 26,7 20,7 30,1 22,5 28,4 23,7 37,2 18,6 7,1 -3,9
Slide 5: Jan-June 2023 Passenger Vehicle Market (%) (Retail)
JAN - JUNE 2023 PASSENGER VEHICLE MARKET (%) (Retail) 40,0 37,2 PC market increased by 55% 35,0 yoy. 30,0 28,4 25,0 23,7 22,9 22,3 20,0 18,6 17,0 16,0 DOAS shares a 16.0% market 15,0 share at 3rd place. 10,0 8,0 5,9 5,0 0,0 The strongest competitors of DOAS in this segment are Tofas/Stellantis with
Slide 6: Jan-June 2023 Light Commercial Vehicle Market (%) (Retail)
JAN - JUNE 2023 LIGHT COMMERCIAL VEHICLE MARKET (%) (Retail) 50,0 Light Commerical Vehicle 46,0 45,0 market increased by 58% yoy. 40,0 38,1 35,0 33,6 29,3 30,0 25,0 20,0 DOAS shares a 6.7% market 16,3 15,0 share at 3rd place. 12,6 10,0 6,7 7,4 4,6 5,4 5,0 0,0 Leaders in the LCV market are Tofas/Stel
Slide 7: Jan-June 2023 Doğuş Otomotiv Brand Sales Performance
JAN - JUNE 2023 DOĞUŞ OTOMOTIV BRAND SALES PERFORMANCE WHOLESALE UNITS 6M22 6M23 Δ DOAS TOTAL 50.525 80.081 58% VW PC SKODA VW LCV AUDI SEAT +23% +93% +141% +66% +36% 31.340 18.160 8.567 11.057 4.666 25.411 3.438 6.669 9.425 3.551 6M22 6M23 6M22 6M23 6M22 6M23 6M22 6M23 6M22 6M23 CUPRA SCANIA PORSCH
Slide 8: Jan-July 2023 Doğuş Otomotiv Main Segment Sales (Retail)
JAN - JULY 2023 DOGUS OTOMOTIV MAIN SEGMENT SALES (Retail) 800.000 600.000 400.000 200.000 RETAIL MARKET 0 Retail PV Premium LCV HCV July 22 425.275 319.313 29.277 90.797 15.165 July 23 690.596 516.288 46.303 152.540 21.768 ∆ 62% 62% 58% 68% 44% 120.000 90.000 60.000 DOAS 30.000 PERFORMANCE 0 Sales
Slide 9: Jan-July 2023 Doğuş Otomotiv Brand Sales Performance
JAN - JULY 2023 DOĞUŞ OTOMOTİV BRAND SALES PERFORMANCE WHOLESALE UNITS 7M 2022 7M 2023 Δ DOAS TOTAL 59.483 101.397 70% VW PC SKODA AUDI VW LCV SEAT +42% +96% +77% +135% +44% 43.899 20.892 13.057 10.171 5.554 30.936 3.857 10.636 7.381 4.337 7M 2022 7M 2023 7M 2022 7M 2023 7M 2022 7M 2023 7M 2022 7M 2
Slide 10: Competition (Retail - July)
COMPETITION (Retail - July) RETAIL MARKET YTD YTD 22 Year - End/ July 22/ 2021 2022 July 2022 July 2023 July 23 July 23 ∆ ∆ PASSENGER CAR % TOFAS/STELLANTIS 26,7 30,1 29,3 36,6 6,5 7,3 RENAULT GRUP 20,7 22,5 23,0 18,0 -4,5 -5,0 DOGUS OTOMOTİV 18,9 15,8 17,0 16,6 0,9 -0,4 HYUNDAI 6,6 7,1 8,0 5,8 -1,3
Slide 11: 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. T-Roc
Slide 12: Financial Performance (mn TL)
FINANCIAL PERFORMANCE (mn TL) Revenue EBITDA Net Profit %147 %187 %227 9.059 46.781 46.592 10.307 7.848 8.222 24.306 18.854 3.275 3.590 2.336 2.773 2021 2022 6M2022 6M2023 2021 2022 6M2022 6M2023 2021 2022 6M2022 6M2023 CapEx1 Total Assets Working Capital2 %81 1.219 %101 22.006 37.383 %48 20.665 10.
Slide 13: Margins %
MARGINS % Gross Profit Margin OpEx/Sales EBITDA Margin 5,6% 22,1% 22,5% 24,0% 19,0% 21,1% 17,6% 13,5% 14,5% 2,8% 2,4% 1,8% 2021 2022 6M2022 6M2023 2021 2022 6M2022 6M2023 2021 2022 6M2022 6M2023 EBIT Margin Net Profit Margin Wholesale Market Sales1 21,6% 94.839 85.928 18,3% 19,4% 16,9% 16,8% 61.921
Slide 14: Division Based Revenue & Gross Profit (%)
DIVISION BASED REVENUE&GROSS PROFIT (%) 1 Revenue Division (%) Gross Profit Division (%) 6M 2023 71% 17% 12% 6M 2023 67% 18% 15% 6M 2022 74% 11% 15% 6M 2022 66% 9% 25% Segment Based Profit Margins (%) 31% 22% 26% 6M 2023 34% 6M 2022 19% 18% 14/26 1 Mainly TR : Kurumsal bilgiler içermektedir. consist
Slide 15: Income Statement Q-on-Q and Y-on-Y Comparisons
INCOME STATEMENT Q-on-Q and Y-on-Y Comparisons TL’000 2Q 2023 1Q 2023 Δ 2Q 2023 2Q 2022 Δ Wholesale Sales Volume (excl. Skoda, incl. 35.457 26.464 34% 35.457 23.960 48% Scania) Revenue 27.142.251 19.449.673 40% 27.142.251 11.614.225 134% Direct cost of revenue -20.510.468 -14.905.448 38% -20.510.468
Slide 16: Income Statement
INCOME STATEMENT TL’000 30.06.2023 30.06.2022 Δ Revenue 46.591.924 18.854.381 147% Direct cost of revenue -35.415.916 -14.872.030 138% Gross profit 11.176.008 3.982.351 181% Total Operational Expenses -1.126.415 -523.834 115% EBIT 10.049.593 3.458.517 191% Income from Investing Activities, net 905.9
Slide 17: Income from Associates
INCOME FROM ASSOCIATES TL’000 30.06.2023 30.06.2022 Δ Associates Yüce Auto (Škoda) 781.264 194.651 301% vdf Servis 379.253 77.329 390% TÜVTÜRK N&S (Consolidated) 228.872 90.479 153% Doğuş Teknoloji 31.437 -2.313 1459% Doğuş Sigorta 9.534 3.880 146% Total 1.430.360 364.026 293% 17/26 TR : Kurumsal bi
Slide 18: Balance Sheet
BALANCE SHEET TL’000 30.06.2023 31.12.2022 Δ Inventories: Number of vehicles increased ASSETS 37.383.301 20.665.180 81% from 6,968 units on 31.12.2022 to 19,478 units on 30.06.2023. Cash and cash equivalents 2.442.972 3.366.150 -27% Trade receivables 6.147.102 3.331.831 84% Financial Liabilities: In
Slide 19: Financing Costs
FINANCING COSTS TL’000 30.06.2023 30.06.2022 Δ Financing Cost, net 1.627.659 399.229 308% Finance Expenses 1.822.480 403.600 352% Interest Expense on Borrowings 409.924 307.995 33% Commission Expenses on Letters of Guarantee 59.566 42.394 41% Foreign Exchange Losses on Borrowings, net 1.304.770 16.1
Slide 20: Financial Performance
FINANCIAL PERFORMANCE Million TL 30.06.2023 31.12.2022 Δ Working capital 22.006 10.968 101% Net Cash Position 1 -3.954 841 -570% Receivable Turnover (day) 24 26 -7% Inventory Turnover (day) 69 43 61% Payable Turnover (day) 40 36 12% 1 Net Cash Position = Cash and Cash Equivalents - Bank Borrowings -
Slide 21: What Is New?
WHAT IS NEW? A contract has been signed between Meiller Fahrzeug & Maschinenfabrik - GmbH & Co KG and our company regarding Meiller the execution of the sales and service of 'Meiller' brand semi- trailer tipper products in Turkey by our company. The Integrated Sustainability Report, outlining the su
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. — Q2 2023 Earnings Presentation on 6ix