Is Finansal Kiralama A.s. · BIST:ISFIN

Is Finansal Kiralama A.s — Investor Presentation (September 2011)

28 slides from Is Finansal Kiralama A.s's investor presentation, Sep 30, 2011

  1. Slide 1: Investor Presentation

    Investor Presentation September 30, 2011

  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 (Bank FX loans have some restrictions)  Banks can fund up to %50 of commercial real estate but there is

  4. Slide 4: Turnover

    TURNOVER %56 Leasing penetration is still at low levels 8203 compared to EU average of 15% and North America average of 18%. Million USD %24 Penetration * -%35 %47 5271 5301 12% 4500 Est. 10% %34 4263 8% %63 %45 6% 3182 2900 -%59 4% %83 2165 2198 2% 1327 0% 2000 2001 2002 2003 2004 2005 2006 2007 20

  5. Slide 5: Market Shares, New Leasing Transactions

    MARKET SHARES, New Leasing Transactions 28,5 % 2009 2010 2011 Q3 26,9 25,8 19,2 18,9 16,7 16,1 15,4 14,7 14,6 9,7 9,0 9,1 9,0 8,2 7,9 7,2 7,2 7,5 7,2 7,0 5,6 4,1 4,5 YAPI KREDİ GARANTİ İŞ BNP AK HALK FİNANS OTHERS Source: Fider 5

  6. Slide 6: Company Overview

    Company Overview

  7. Slide 7: Milestones & Ownership

    MILESTONES & OWNERSHIP • Financial leasing law enacted in 1985. NEMTAŞ • İş Leasing established in 1988 by 0,90% İş Bank, IFC and Societe İŞ FREE BANKASI Generale. 27,79% FLOAT • IFC and SocGen transferred 42,67% leasing know-how and expertise, İş Bank branches provided access to the market. TSKB •

  8. Slide 8: Participations

    PARTICIPATIONS Total Share Capital İş Leasing (TRY) Share Equity Participations (TRY) (%) İş Yatırım Menkul Değerler A.Ş. 200,000,000 4,864,851 2.43 Camiş Menkul Değerler A.Ş. 4,696,000 2,471 0.05 Total Share Capital İş Leasing (TRY) Share Subsidiaries (TRY) (%) İş Factoring Finansman Hiz. A.Ş. 16,0

  9. Slide 9: 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

  10. Slide 10: Lease Portfolio

    Lease Portfolio

  11. Slide 11: Turnover & Market Share

    TURNOVER & MARKET SHARE 445 61 9,0 9,1 349 359 334 21 35 286 7,9 0 2 6,9 6,6 174 384 314 338 27 334 284 5,4 146 2006 2007 2008 2009 2010 2011 Q3 2006 2007 2008 2009 2010 2011 Q3 Non-group turnover İş group turnover Total turnover Million USD Percentage 11

  12. Slide 12: Sales Channels

    SALES CHANNELS Total Number of Customers DIRECT No.of SALES Customers 34.9% that have SUPPLIER 7.2% Outstanding Contract 4539 İŞ GROUP 3.7% İŞBANK 48917 BRANCHES 32.5% RECURRING CUSTOMERS 21.7% •Total number of customers in CRM database: 52,963 İşbank has 1,159 branches • While sales channels contin

  13. Slide 13: Sectoral Distribution, %

    SECTORAL DISTRIBUTION , % 21,1 2010 2011 Q3 16,1 12,0 11,6 11,2 10,3 10,8 8,8 9,0 7,6 6,9 6,2 6,1 6,0 4,54,4 4,8 4,6 4,2 3,9 3,8 3,2 3,5 3,2 3,3 2,8 2,9 2,4 2,9 2,2 • As of June 2011, transport and construction sectors have the largest shares. • İş Leasing's risks are managed by examination of secto

  14. Slide 14: Asset Distribution, %

    ASSET DISTRIBUTION , % 25,6 23,5 2010 2011 Q3 22,7 18,8 17,5 13,8 13,5 12,7 7,1 5,1 4,6 4,6 3,8 3,7 3,6 3,1 3,5 2,9 3,1 2,7 2,0 2,3 • As of June 2011, machinery and real estate groups have the largest shares. 14

  15. Slide 15: Portfolio Development

    PORTFOLIO DEVELOPMENT 1.400 000 TRY 1.200 TOP 30 CUSTOMERS REMAINING 1.000 800 600 400 200 43% - 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 H1 2011H1 Q3 10000 8000 Outstanding Contracts 6000 4000 2000 0 15

  16. Slide 16: Geographical Distribution

    GEOGRAPHICAL DISTRIBUTION KOCAELİ SALES OTHER 5% OFFICES STAFF 18% ANKARA AYDIN 20% Head Office 2 1% MUĞLA Istanbul Europe 7 2% Istanbul Asia 3 ANTEP BURSA Ankara Rep. Office 6 4% 2% İZMİR Antep ” 5 4% Bursa ” 2 ANTALYA İzmir ” 3 1% Antalya ” 3 TOTAL SALES STAFF 31 İSTANBUL 43% TOTAL HEADCOUNT 104 1

  17. Slide 17: Currency Distribution

    CURRENCY DISTRIBUTION TL 15% 2011 Q3 USD 43% EUR 42% TL 20% 2010 USD 37% EUR 43% TL 21% 2009 USD 35% EUR 44% (‘000 TRY) 2010 2011 Q3 Net FX Position (Long) 526 28.387 Net FX Poisition/Equity 0,1% 5.6% 17

  18. Slide 18: Maturity Distribution

    MATURITY DISTRIBUTION 2010 2011 Q3 LEASE LEASE PORTFOLIO 33 BORROWINGS BORROWINGS 25 26 25 19 15 19 13 9 9 0 0 USD EUR TL USD EUR TL average, months 18

  19. Slide 19: Collaterals

    COLLATERALS* • 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 might be demanded. Collaterals Cash + LG + Pledge + Buyback Mortgage 1% 8% None 1% prom. Note+ Personal Guar

  20. Slide 20: Financial Performance

    Financial Performance

  21. Slide 21: Financial Highlights

    FINANCIAL HIGHLIGHTS 31 December 30 September TRY Million Change(%) 2010 2011 Leasing Receivables, Net 936 1,427 52% Factoring Receivables, Net 331 319 -4% Non Performing Receivables 89 85 -4% Provisions -45 -52 17% Total Assets 2,093 2,074 -1% Financial Liabilities 1,587 1,508 -5% Equity 476 514 8%

  22. Slide 22: Balance Sheet (consolidated)

    BALANCE SHEET (consolidated) 000 TL Million TRY 2009 2010 2011 Q3 2009 2010 2011 Q3 Current Assets Current Liabilities Cash and Cash Equivalents 363.8 691.3 197.6 Short Term Liabilities 893.6 1,416.4 1,240.4 Trading Securities(net) 0.1 4.4 11.3 Trade Payables 12.5 14.5 15.1 Leasing Receivables(net)

  23. Slide 23: Income Statement (consolidated)

    INCOME STATEMENT (consolidated) 000 TL Million TRY 2009 % 2010 % 2011 Q3 % Interest Income 97,986 10.9 81,488 9.2 74,294 8.4 Interest Expense (50,739) (5.2) (60,230) (4.6) (57,206) (4.9) Foreign Currency Gains/(Losses) 1,666 912 11,158 Toplam 48,913 5.5 22,170 2.5 28,246 3.2 Factoring Income 14,147

  24. Slide 24: NPL

    NPL Consolidated 2008 2009 2010 2011 Q3 Gross NPL /Total Receivables % 7,0 % 10,8 % 6,9 % 4,8 Net NPL / Net Receivables % 4,3 % 6,9 % 3,5 % 1,9 120.000 000 TL LOSS RESERVE 100.000 80.000 2011 Opening (47.258) 60.000 151-240 Reversals 1.539 241-360 40.000 >360 New provisions (8.805) Total 20.000 Writ

  25. Slide 25: Other Issues

    Other Issues

  26. Slide 26: Ratings

    RATINGS Foreign Currency Long-Term IDR BBB- Short-Term IDR F3 Outlook Positive Local Currency Long-Term IDR BBB- Short-Term IDR F3 Outlook Positive National Long-Term Rating AAA (tur) Outlook Stable Support Rating 2 26

  27. Slide 27: Agenda

    AGENDA  Increasing synergy with İşbank branches. By more efficiently using the wide branch network of İşbank, reaching uncovered SME’s therefore smaller ticket sizes and higher spreads are targeted.  Finance Minister Mehmet Şimşek declared that; they will be able to announce the details of VAT dec

  28. Slide 28: Disclaimer

    DISCLAIMER The information in this document has been obtained by İş Finansal Kiralama A.Ş. (“İş Leasing”) from sources believed to be reliable, however, İş Leasing can not guarantee the accuracy, completeness, or correctness of such information. This document has been issued for information purposes

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