Migros Ticaret A.s. · BIST:MGROS
Migros Ticaret A.s — H1 2014 Earnings Presentation
19 slides from Migros Ticaret A.s's earnings presentation, 2014
Slide 1: Migros Ticaret A.Ş. 1H 2014 Financial Results
Migros Ticaret A.Ş. The Best Organized Retailer in Turkey, 1H 2014 Financial Results 10th year in a row Bodrum Maya store, first LEED Gold certified store in Turkey
Slide 2: Disclaimer Statement
Disclaimer Statement Migros Ticaret A.Ş. (the “Company”) has prepared this presentation for the sole purpose of providing information about its business, operations and financial results. The information in this presentation is subject to updating, revision and amendment. The information in this pre
Slide 3: Contents
CONTENTS Markets Sales Update Expansion Financial Overview Ataşehir MMM Migros Key Financial Guidance Metrics Financial Format Results Summary Ataşehir MMM Migros 2
Slide 4: Sales in 1H 2014
Sales in 1H 2014 Sales growth performance of 14.2% in 2Q 2014, over a year ago. Consolidated sales rose to TL 3,738 million in 1H 2014 corresponding to yearly growth rate of 12.9%. New store openings and improved performance of existing stores boosted top-line growth in 2Q 2014. Quarterly Sale
Slide 5: Market Share Evolution
Market Share Evolution Strong market share in FMCG 16 Migros Market Share (%) Migros gained 50 bps market share in 1H 2014 vs. 12 same period of last year, accounting 14.2% of 14.2% FMCG sales in the organized sector in Turkey 13.7% 8 13.3% 4 5.4% 5.3% 5.3% 0 1H2012 1H 2013 1H 2014 In total FMCG m
Slide 6: Expansion
Expansion Domestic Sales Area Split A total number of 65 new stores opened in 2Q 2014, including 62 supermarkets and 3 hypermarkets, by reaching 82 new store openings in 1H 2014. Total number of stores reached 1,079 as of June 2014. Number of Stores - Total 1,079 967 June 30, 2013 June 30, 2014
Slide 7: Financial Overview in 1H 2014
Financial Overview in 1H 2014 Solid Gross Profit Generation Solid EBITDA Generation Gross profit increased by 13.6% y-o-y In 2Q 2014, EBITDA increased by 18.8% y-o-y to TL 120 million and the to TL 518 million with a margin of Company delivered an EBITDA margin of 6.1%. 26.4% in 2Q 2014. Quarter
Slide 8: Key Financial Metrics
Key Financial Metrics Sustainable Sales Growth Sustainable EBITDA generation (mn TL) (mn TL) Sales EBITDA (*): excluding divested operations (*): excluding divested operations Stable Negative Cash Conversion** Net Debt/EBITDA Working Net Debt / Capital EBITDA (*): including divested operations (**):
Slide 9: Guidance 2014 and Medium Term
Guidance 2014 and Medium Term .Sales growth : Double digit sales growth EBITDA margin : Full year EBITDA margin range 6.0% – 6.5% .Expansion target : Revised to 150+ new supermarkets and 3 hypermarkets for 2014 Present cities Cities not covered 8
Slide 10: Financials & Format Summary
Financials & Format Summary - Financials - Operations
Slide 11: Summary of Income Statement – 1H 2014
SUMMARY OF INCOME STATEMENT – 1H 2014 IFRS Consolidated Income Statement Summary (TL Million) 1H 2014 1H 2013 Net Sales 3,737.7 3,311.2 Cost of sales -2,742.4 -2,433.3 Gross Profit 995.3 877.9 Operating Expenses -862.5 -762.8 Other Operating Income / (Expense) -39.4 -19.7 Operating Profit 93.4 95.5
Slide 12: Summary of Balance Sheet – 1H 2014
SUMMARY OF BALANCE SHEET – 1H 2014 IFRS Consolidated Balance Sheet Summary (TL Million) 1H 2014 2013 Current Assets 1,999.7 1,980.7 Non-current Assets 3,805.3 3,815.9 Total Assets 5,805.0 5,796.6 Current Liabilities 2,615.4 2,360.7 Non-current Liabilities 2,335.8 2,605.7 Total Liabilities 4,951.2 4,
Slide 13: Migros Supermarkets
Migros Supermarkets Largest National Supermarket Chain Number of stores: 780* ─ 150-3,000 sqm / 3,000 – 18,000 SKUs ─ Rich product variety in fresh food ─ Wide branded assortment of FMCG products ─ Modern, fashionable, complementary and seasonal non- food selection CRM applications for different
Slide 14: Migros Jet
Migros Jet Fastest growing proximity stores Store size between 100-300 sqm Room for further concentration in the existing big cities and expansion into others. Its network reached 33 cities. Around 3,000 SKUs ─ Consistent Every Day Low Pricing on commodity Private Label product lines ─ Differe
Slide 15: Tansaş Supermarkets
Tansaş Supermarkets Regional leader of the west coast Number of stores: 209 150-1,500 sqm / 3,000 – 15,000 SKUs ─ A strong regional brand & competitive pricing strategy ─ Diverse fresh food emphasis on meat and F&V ─ Friendly service / warm and localized layout Penetration: 6 cities 14
Slide 16: Macrocenter Supermarkets
Macrocenter Supermarkets Exclusive shopping Number of stores: 26 400 - 2,500 sqm / 10,000 SKUs ─ Upscale gourmet store serving a niche, selective customer segment with strong brand loyalty ─ Elegant design and store layout ─ Wide product range in delicatessen, appetizers and spirits. Premium qua
Slide 17: 5M Hypermarkets
5M Hypermarkets Lowest prices and wide assortment Number of stores: 24 4,000-7,000 sqm / 25,000 SKUs ─ Wide product range; rich FMCG and non-food assortment ─ N/F product portfolio focusing on kids & women; especially kitchenware & household textile, toys and cosmetics ─ Competitive pricing 20
Slide 18: Wholesale & Food Service
Wholesale & Food Service Focus on Horeca Penetration Currently operating in 7 regions through dedicated sales team. Dedicated warehouses and customer delivery Penetration: 7 regions 17
Slide 19: International Operations
International Operations Kazakhstan Macedonia Number of stores: 26, including 4 hypermarkets, 22 Number of supermarkets: 14 supermarkets. Owns 1 shopping mall in Almaty Owns 1 shopping mall in Skopje Total sales area of 50,111 sqm ─ Present in Almaty, Astana, Shimkent, Karaganda, Total sal