Is Finansal Kiralama A.s. · BIST:ISFIN

Is Finansal Kiralama A.s — Investor Presentation (September 2009)

31 slides from Is Finansal Kiralama A.s's investor presentation, Sep 30, 2009

  1. Slide 1: Investor Presentation

    Investor Presentation SEPTEMBER 30, 2009

  2. Slide 2: Leasing Sector in Turkey

    LEASING SECTOR IN TURKEY

  3. Slide 3: Advantages of Leasing

    ADVANTAGES OF LEASING • Expertise on SMEs, consultancy and know-how support in addition to funding. • Fast credit approvals -leased asset ownership-, flexible payment plans. • FX borrowing option (less costly than bank FX loans). 3

  4. Slide 4: Turnover

    TURNOVER %56 Leasing Penetration (Leasing 8203 /Private sector investments) %24 is still at low levels compared Million USD -%35 to EU average of 15% and North America average of %47 5271 5301 30%. %34 4263 2001 3,4 % %63 2002 4,8% 2900 2003 5,1% %83 2165 2004 4,2% 1327 1540 2005 4,9% 727 2006 5,4%

  5. Slide 5: Market Shares

    MARKET SHARES Leasing Receivables 2008 2009 Q3 İŞ FİNANS İŞ FİNANS AK 8,34% 7,08% 7,69% 6,31% 7,90% AK FORTIS 14,30% 7,54% GARANTİ GARANTİ 17,58% 14,92% DENİZ FORTIS (Dexia) 7,22% 11,20% YAPI KREDİ YAPI KREDİ 14,71% 14,78% OTHERS OTHERS 28,96% 31,47% Source: Fider 5

  6. Slide 6: Company Overview

    COMPANY OVERVIEW

  7. Slide 7: Shareholders

    SHAREHOLDERS NEMTAŞ 0,9% İŞ BANKASI FREE 27,8% FLOAT 42,3% TSKB ŞİŞECAM 28,6% 0,4% İş Bank group controls 57,8 % of the shares. 8

  8. Slide 8: Organization Chart

    ORGANIZATION CHART INTERNAL AUDIT BOARD OF DIRECTORS GENERAL MANAGER AGM AGM AGM FINANCE MARKETING CREDIT ACCOUNTING OPERATIONS RISK MONITORING IT LEGAL DEPARTMENT HUMAN RESOURCES 9

  9. Slide 9: Lease Portfolio

    LEASE PORTFOLIO

  10. Slide 10: Turnover million USD

    TURNOVER million USD 448 445 53 61 359 349 0 305 35 52 183 395 384 12 359 136 314 128 26 253 27 67 171 29 110 101 38 2001 2002 2003 2004 2005 2006 2007 2008 2009 Q3 Non-group turnover İş Bank group turnover Total turnover 11

  11. Slide 11: Sales Channels

    SALES CHANNELS DIRECT SUPPLIER İŞ GROUP SALES 1,71% 8,93% 14,27% RECURR. İŞBANK CUSTOMER BRANCHES 37,08% 38,01% İşbank has 1074 branches in Turkey 12

  12. Slide 12: Customers

    CUSTOMERS Total number of customers in CRM Number of Customers that database: 43.754 have Outstanding Contract 5279 Number of Customers that do not have outstanding contract In 2009, 49% of new leasing volume is 38475 generated by recurring customers. 13

  13. Slide 13: Sectoral Distribution

    SECTORAL DISTRIBUTION TEXTILE 8,30% OTHERS FINANCE 23,01% 6,55% PAPER IND. 5,42% MINING 1,89% METAL IND. FOOD 5,40% 3,39% TOURISM 4,50% TRANSPORT. 13,38% GLASS 2,67% CONSTRUCT. CHEMICALS 10,65% HEALTH 3,99% 10,85% 14

  14. Slide 14: Equipment Distribution

    EQUIPMENT DISTRIBUTION TOURISM OTHER PRINTING 2,81% 3,74% 3,51% MACHINERY MEDICAL 25,14% 6,43% CONSTRUCTION 12,89% TEXTILE MACHINERY OFFICE 5,27% 4,45% ELECTRONICS & OPTICAL REAL ESTATE 5,16% 18,59% TRANSPORT. 12,01% 15

  15. Slide 15: Portfolio Development

    PORTFOLIO DEVELOPMENT 1.000 mio TL 900 800 700 600 REMAINING TOP 30 CUSTOMERS 500 400 300 200 100 - 10000 8000 Number of Contracts 6000 4000 2000 0 16

  16. Slide 16: Geographical Distribution

    GEOGRAPHICAL DISTRIBUTION ANKARA OTHER # 11% 19% BURSA OFFICES SALES 3% STAFF İZMİR UŞAK 4% Head Office 4 2% KÖRFEZ Istanbul Europe 5 REG. ANTEP REG. 4% Istanbul Asia 4 3% ANTALYA Ankara Rep. Office 5 1% Antep ” 3 Bursa ” 2 İzmir ” 4 Antalya ” 3 TOTAL 30 İSTANBUL 53% 17

  17. Slide 17: Currency Distribution

    CURRENCY DISTRIBUTION TL 21,12% 2009Q3 USD 35,85% EUR 43,03% TL 22,04% 2008 USD 37,13% EUR 40,83% TL 27,48% 2007 USD 32,85% EUR 39,67% 18

  18. Slide 18: Maturity Distribution

    MATURITY DISTRIBUTION average, months 2008 2009 Q3 LEASE PORTFOLIO 23 23 BORROWINGS 22 20 16 16 11 9 9 8 0 0 USD EUR TL USD EUR TL 19

  19. Slide 19: Collaterals

    COLLATERALS* Mortgage Cash + LG + 24% Pledge + Buyback 8% prom. Note+ Personal Guarantee 68% Leased asset, since legally possessed by the lessor, is a collateral. Depending on the lessee’s credit ratings and second hand value of the leased asset, additional collaterals(above graph) might be demanded

  20. Slide 20: Financial Performance

    FINANCIAL PERFORMANCE

  21. Slide 21: Participations

    PARTICIPATIONS Total Share Equity Participations Capital (TL) İş Leasing Share % İş Yatırım Menkul Değerler A.Ş. 119.387.000 2.904.000 2,43 Camiş Menkul Değerler A.Ş. 1.900.000 1.000 0,05 Subsidaires İş Factoring Finansman Hiz. A.Ş. 16.000.000 12.517.000 78,23 Due to public offering of İş Yatırım M

  22. Slide 22: Highlights

    HIGHLIGHTS Million TL 2007 2008 2009 Q3 ∆* (annualized) Leasing Receivables 799 963 858 -11% Assets 1052 1236 1395 13% Borrowings 801 928 1039 12% Equity 215 285 323 13% Net Profit * 47 76 35 -39% ROA (Avg)* 4.8% 6.7% 3.5% ROE (Avg) * 25.1% 30.5% 15.3% 23

  23. Slide 23: Balance Sheet (consolidated)

    BALANCE SHEET (consolidated) 000 TL 2007 2008 2009/Q3 2007 2008 2009/Q3 CURRENT ASSETS CURRENT LIABILITIES Cash and cash equivalents 164.008 165.411 397.525 Short-term borrowings 540.745 786.580 923.722 Trading Securities (net) 25 1.904 108 Trade payables 14.298 9.628 11.142 Leasing Receivables (net

  24. Slide 24: Income Statement (consolidated)

    INCOME STATEMENT (consolidated) 000 TL 2007 % 2008 % 2009/Q3 % Interest income 107.571 14,5 103.948 11,8 74.942 8,5 Interest Expense (47.206) (6,2) (63.131) (7,2) (38.200) (4,3) Foreign currency gains/(losses) (2.371) 4.077 (678) 57.994 7,8 44.894 5,1 36.064 4,1 Factoring Income 8.888 16.497 10.608

  25. Slide 25: Tax Reserve as of 2008

    TAX RESERVE as of 2008 Tax Reserve carried forward 293,396,729 Other Reserves 133,648,254 Total Reserve 427,044,983 26

  26. Slide 26: Currency Position

    CURRENCY POSITION TL 000 2008 2009 Q3 Cash & cash equivalents 122,628 139,336 Finance Lease Receivables 726,494 656,458 Financial Liabilities (872,287) (799,139) Forward Transactions 2,147 (136) Others 18,698 8,126 Net position (2,320) 4,645 Net position / Equity 0.81% 1,53% 27

  27. Slide 27: Loss Reserve, 2009 Q3

    LOSS RESERVE, 2009 Q3 000 TL GENERAL SPECIFIC TOTAL 2009 Opening 4.252 30.741 34.993 Reversals (1.874) (774) (2.648) New provisions 1.065 10.099 11.164 Reserve transfers (3.199) 3.199 - Write-off - (7.234) (7.234) Closing 2009H1 244 36.031 36.275 28

  28. Slide 28: NPL Ratios

    NPL RATIOS 2007 2008 2009 Q3 Gross NPL / Total Receivables % 7,8 % 7,0 % 11 Net NPL / Total Assets % 3,2 % 3,6 % 5,2 29

  29. Slide 29: Other Issues

    OTHER ISSUES

  30. Slide 30: Main Strategies

    MAIN STRATEGIES • Increasing business flow from İşbank branches. • Focusing on recurring customers under volatile market conditions. • Maintaning a diversified creditor portfolio and competitive funding in all currencies. • Strategic partnerships / vendor agreements especially important for operatin

  31. Slide 31: Relative Share Performance

    Relative Share Performance ISFIN vs. IMKB 100 1,200 ISFIN IMKB 100 1,000 0,800 0,600 0,400 0,200 - 31-Dec-07 31-Mar-08 1-Jul-08 1-Oct-08 1-Jan-09 1-Apr-09 1-Jul-09 1-Oct-09 32

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