Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi · BIST:DOAS
Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi — Doğuş Otomotiv Servis ve Ticaret A.Ş. — Q3 2018 Earnings Presentation
19 slides from Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi's earnings presentation, Nov 9, 2018
Slide 1: 3Q 2018 Analyst Briefing Presentation
3Q 2018 ANALYST BRIEFING PRESENTATION Kerem Talih 9 November 2018 A6
Slide 2: 3Q 2018 DOAS Developments
3Q 2018 DOAS DEVELOPMENTS Net Sales decreased by 9%. Gross Profit margin increased from 10,4% to 12,1% EBITDA margin increased from 4,5% to 7,0%. In line with our cautious expenditure management our OpEx/Sales decreased from 6,6% to 5,9%. The distributorship agreement between DOAS and Volk
Slide 3: 3Q 2018 Doğuş Otomotiv Main Segment Sales Performance
3Q 2018 DOGUS OTOMOTIV MAIN SEGMENT SALES PERFORMANCE Retail RETAIL MARKET DOAS PERFORMANCE 2
Slide 4: Competition (Retail)
COMPETITION (Retail) 2017/ Sep17 RETAIL MARKET 2016 2017 YTD YTD Sep18 /Sep18 VW PC ranked 2nd in the Sep.17 Sep.18 ∆ ∆ cumulative passenger vehicle market with 10,4% market share. PASSENGER CAR % RENAULT 19,7 21,5 21,6 21,8 0,3 0,2 DOGUS OTOMOTİV 23,0 21,1 20,7 19,8 -1,3 -0,9 ŠKODA has increased it
Slide 5: 3Q 2018 Passenger Vehicle Market (%)
3Q 2018 PASSENGER VEHICLE MARKET (%) Retail - PC market decreased by 24% yoy. - DOAS’ market share in the passenger vehicle market was realized as 19,8%. - Renault attained a 21,8% market share in the PC market. - Segment information: VW PC 9M18 Polo A0/HB 14,2% 3. Golf A/HB 27,5% 1. Tiguan 7,7% 5.
Slide 6: 3Q 2018 Light Commercial Vehicle Market (%)
3Q 2018 LIGHT COMMERCIAL VEHICLE MARKET (%) Retail - Light Commerical Vehicle market decreased by 33% yoy. - DOAS maintained its 3rd position with 12,8% market share. - Leaders in the LCV market are Ford Otosan with 31,2% market share and Tofaş with 21,3% market share. - Segment information: VW LCV
Slide 7: 3Q 2018 Doğuş Otomotiv Brand Sales Performance
3Q 2018 DOĞUŞ OTOMOTIV BRAND SALES PERFORMANCE WHOLESALE UNITS 9M17 9M18 Δ VW PC 61.212 33.206 -46% VW LCV 19.499 12.415 -36% AUDI 12.654 9.176 -27% SKODA 15.395 15.622 1% SEAT 11.398 7.379 -35% SCANIA 976 1.053 8% PORSCHE 433 422 -3% BENTLEY 11 6 -45% LAMBORGHINI 4 2 -50% DOAS TOTAL 121.582 79.281
Slide 8: Financial Performance
FINANCIAL PERFORMANCE Touareg
Slide 9: Financial Performance (mn TL)
FINANCIAL PERFORMANCE (mn TL) Net Sales EBITDA Net Profit CapEx Total Assets Working Capital* * Comprised of cash and cash equivalents, trade receivables and inventory. 7
Slide 10: Margins %
MARGINS % Gross Profit Margin OpEx/Sales EBITDA Margin %8 Kons. 10-11 % Maks EBIT Margin Net Profit Margin Wholesale Market Share* * Includes PV, LCV and HCV sales. 8
Slide 11: Income Statement
INCOME STATEMENT Gross Profit Margin was realized TL’000 30.09.2018 30.09.2017 Δ 2018/ 2017 as 12,1% with decrease of 9% in Revenue 7.767.988 8.502.717 -9% revenue. Direct cost of revenue -6.826.625 -7.615.702 -10% Impacts on revenue and direct cost Gross profit 941.363 887.015 6% of revenue: Total
Slide 12: Income from Associates
INCOME FROM ASSOCIATES TL’000 30.09.2018 30.09.2017 Δ 2018/ 2017 Associates vdf Group -19.532 38.088 -151% vdf -7.070 28.042 -125% vdf Servis -12.462 10.046 -224% Doğuş Sigorta 1.856 956 94% Yüce Auto (Škoda) 13.429 7.874 71% TÜVTÜRK N&S (Consolidated) 26.714 23.829 12% Meiller-Doğuş* 0 -1.791 -100%
Slide 13: Balance Sheet
BALANCE SHEET TL’000 30.09.2018 31.12.2017 Δ Inventories: Number of vehicles increased from 12.972 units on 31.12.2017 to 27.815 units on ASSETS 6.484.588 5.166.882 26% 30.09.2018. Cash and cash 150.731 106.385 42% equivalents Financial Liabilities: Trade receivables 298.420 1.425.215 -79% Use of fi
Slide 14: Financing Costs
FINANCING COSTS Million TL 30.09.2018 30.09.2017 Δ 2018/ 2017 Financing Costs 368,343 253,431 45% Finance expenses, net 337,870 253,345 33% Interest expense on borrowings 319,410 241,299 32% Commission expenses on letters 13,657 6,144 122% of guarantee Other financial expenses 4,803 5,902 -19% Forei
Slide 15: Financial Performance
FINANCIAL PERFORMANCE Million TL 30.09.2018 31.12.2017 Δ Working capital 4.050 2.957 37% Net Cash Position -2.162 -2.928 -26% Receivable Turnover (day) 11 38 -72% Inventory Turnover (day) 144 44 231% Payable Turnover (day) 107 19 451% Million TL 30.09.2018 31.12.2017 Δ CAPEX 138 315 -56% ROA 2,0% 3,
Slide 16: Key Material Disclosures in 2018
KEY MATERIAL DISCLOSURES IN 2018 01.10.2018 – Update of the agreement between our Company and Volkswagen AG The distributorship agreement between our Company and Volkswagen AG has been renewed indefinitely as an extension of the global change and development strategy launched by Volkswagen Group bas
Slide 17: 2018 Expectations
2018 EXPECTATIONS Mobility Digitalization Service Areas Operational Efficiency and Optimum Profitability Cautious Expenditure Management OEM Strategy: Maintain represented brands’ competitive position. Total Automotive Market Investment Expenditure (PC+LCV+HCV) TRY 140-150 million 550-560,000 units
Slide 18: Thank You – Q & A
THANK YOU – Q & A Karoq
Slide 19: Uyarı
Uyarı Dokümanlar ve eklerden oluşan bu sunumda (“Döküman”) yer alan tüm bilgiler, Doğuş Otomotiv Servis ve Ticaret A.Ş. (DOAŞ) hakkında bilgi, öngörü ve ifadeleri sunmak amacıyla DOAŞ tarafından hazırlanmıştır. Bu sunumdaki bilgilerin dogruluğu, yeterliliği ve eksiksizliği teminat edilmemiştir ve bu
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