Slide 1: Koç Holding 9M11 Earnings Presentation
Koç Holding 9M11 Earnings Presentation 4 November 2011
Slide 2: Operating Environment & Koç Group Core Sectors
9M11 Operating Environment & Koç Group Core Sectors www.koc.com.tr 2
Slide 3: Macro Highlights
Macro Highlights Significant uncertainty in global markets Difficult to foresee an orderly solution to the Eurozone sovereign debt crisis as of yet Turkish economic activity is expected to lose steam, current account deficit to contract and interest rates to remain elevated Our base case sce
Slide 4: Energy
Energy Tüpraş Capacity Utilization – % Tüpraş Net Margins vs Med Complex Margins – US$/Barrel 5.52 80.7 75.4 5.2 4.01 8.1 2.93 75.5 67.3 1.09 9M10 9M11 9M10 9M11 Crude Others Tüpraş Net Margin Med Complex Gross Margin Opet Market Share Development – % 19.9 18.6 18.6 17.4 16.7 16.5 16.4 16.1 15.2 14.
Slide 5: Automotive
Automotive Sales Units, Market * – January-September Sales Development, Market * – Units, Monthly Koç Market 19% 21% 51% 51% 17% 21% 29% 30% +54% +43% +38% +35% Share 90000 +31% 80000 700000 +2% -5% -5% 70000 +93% 600000 +32% 60000 +125% 500000 50000 400000 +25% 40000 300000 30000 200000 +75% 100000
Slide 6: Consumer Durables
Consumer Durables Sales Units, Market * – January-September Sales Development, Market * – Units, Monthly +20% 6000000 700000 +24% +21% +18% 5000000 +14% 600000 +23% +14% 4000000 +15% +27% +29% 3000000 +15% +22% 500000 +24% +24% 400000 2000000 300000 1000000 200000 0 Washing Refrigerator Dishwasher O
Slide 7: Finance
Finance Deposit Growth – YtD Loan Growth – YtD 19% 26% 25% 11% YKB Sector YKB Sector NPL Ratio Leading Positions Market Position Market Share 6.3% Leasing #1 18.9% Factoring #1 17.3% 3.4% 3.2% Asset Management #2 17.7% 2.9% 3.0% Brokerage #3 5.6% Private Pension Funds #4 16.1% Life Insurance #5 5.9%
Slide 8: 9M11 Financial Results
9M11 Financial Results www.koc.com.tr 8
Slide 9: Financial Performance
Financial Performance Revenues TL54,930mn (US$33,956mn) 43% YoY increase in TL terms and 34% in US$ terms Operating Profit TL4,372mn (US$2,703mn) 35% YoY increase in TL terms and 26% in US$ terms EBITDA TL5,139mn (US$3,177mn) 29% YoY increase in TL terms and 21% in US$ terms Profit Befor
Slide 10: Main Financial Indicators
Main Financial Indicators € Mn* US$ Mn* TL Mn TL Mn Change Change 30.Sep.2011 30.Sep.2011 30.Sep.2011 30.Sep.2010 %, TL %, US$ Revenues 24,138 33,956 54,930 38,475 p 43 p 34 Gross Profit 3,651 5,136 8,308 6,695 p 24 p 16 EBITDA 2,258 3,177 5,139 3,973 p 29 p 21 Operating Profit 1,921 2,703 4,372 3,2
Slide 11: Strong Growth in Top Line
Strong Growth in Top Line Revenues – TLmn Share of Segment Revenues – % 43% 54,930 38,475 Energy 63% Automotive 13% Durables 12% 9M10 9M11 Finance Other 4% 8% Segment Contribution to Revenues – TLmn 54% 34,723 22,478 41% 21% 19% 15% 7,296 6,364 5,170 5,248 3,633 4,316 1,946 2,232 Energy Automotive D
Slide 12: Energy & Finance Provide the Highest Contribution to EBITDA
Energy & Finance Provide the Highest Contribution to EBITDA EBITDA – TLmn Segmental EBITDA Breakdown – % 29% 5,139 Energy Automotive 3,973 44% 15% Durables 14% Other 9M10 9M11 3% Finance 24% Segment Contribution to EBITDA – TLmn EBITDA Margin by Segment – % 70% 2,258 34.0 1% 28.9 1,330 1,236 1,249 4
Slide 13: 35% Increase in Operating Profit
35% Increase in Operating Profit Operating Profit Consumer Energy Automotive Finance Other TOTAL TL mn Durables 9M11 1,975 589 548 1,169 91 4,372 Operating Profit – TLmn Segmental Operating Profit Breakdown – % 35% 4,372 Energy 45% 3,250 Automotive 13% Other 2% Durables 13% 9M10 9M11 Finance 27% www
Slide 14: High Margins Despite Volatility in FX Rates
High Margins Despite Volatility in FX Rates EBITDA Margin – % Operating Margin – % 9.5 9.4 8.0 8.0 1H11 9M11 1H11 9M11 Net Income Margin – % 3.4 3.0 1H11 9M11 www.koc.com.tr 14
Slide 15: Strong Balance Sheet with Solid Cash Position
Strong Balance Sheet with Solid Cash Position Koç Holding Stand-Alone 30.09.2011 Net Cash Position Total Debt: ~US$ 0.15 bn Total Cash: ~US$ 0.76 bn Net Cash: ~US$ 609 mn 2012-2013 Redemption Schedule US$ 150 mn – to be paid in equal annual installments of US$ 75 mn each January Consolidated Net Deb
Slide 16: Well-Managed Risk
Well-Managed Risk Koç Holding Stand-Alone FX Position 2010 1H11 9M11 US$ + 323mn US$ + 339mn US$ + 338mn Koç Holding Consolidated FX Position FX Position Weighted by Effective Ownership 2010 1H11 9M11 2010 1H11 9M11 US$ - 2.9bn US$ - 3.2bn US$ - 3.0bn* US$ - 1.7bn US$ - 1.8bn US$ - 1.6bn * The natur
Slide 17: Q&A
Q&A 1 www.koc.com.tr 7
Slide 18: Disclaimer
Disclaimer This presentation does contain forward-looking statements that reflect the Company management’s current views with respect to certain future events based on the base-case assumptions. Although it is believed that the expectations reflected in these statements are reasonable, they may be a
Slide 19: Shareholder Structures as of September 2011
Shareholder Structures as of September 2011 Koç Holding Koç Family: 68.51% Free Float: 22.35% Vehbi Koç Foundation: 7.15% Koç Pension Fund: 1.99% Consumer Energy Automotive Finance Other Durables Tüpraş Ford Otosan Arçelik Tat Konserve SPV share: 51.00% KH share: 38.46% Koç Financial Services KH sha
Slide 20: For Further Questions, Please Contact
For Further Questions, Please Contact : Winner 2010 Best IR Website Award investorrelations@koc.com.tr Funda Güngör Akpınar, Coordinator Investor Relations fundag@koc.com.tr +90 216 531 0535 Aslı Soyubol, Manager Investor Relations aslii@koc.com.tr +90 216 531 0537 Neslihan Aycıl, Associate Investor