Is Finansal Kiralama A.s. · BIST:ISFIN
Is Finansal Kiralama A.s — Q2 2018 Earnings Presentation
27 slides from Is Finansal Kiralama A.s's earnings presentation, Jun 30, 2018
Slide 1: Investor Presentation 30 June 2018
Investor Presentation 1 INVESTOR PRESENTATION 30 JUNE 2018 İŞ LEASİNG June 2018 Investor Relations
Slide 2: Leasing Sector in Turkey
Leasing Sector in Turkey
Slide 3: Leasing advantages
Leasing Investor Presentation 3 Leasing advantages VAT is %1 for various types of machinery Expertise on SMEs, consultancy and know-how support in addition to funding FX borrowing option (for selective assets) Fast credit approvals (leased-asset ownership), flexible payment plans Sale-and-
Slide 4: Leasing Volume
Leasing Sector Investor Presentation 4 Leasing Volume Million USD 9% -16,7% 7637 30,4% -4% 1% 6990 9,6% 6365 6194 6130 14% 28% 5360 4891 24% 18% 24% 2973 18% 2011 2012 2013 2014 2015 2016 2017 2018/Q2 Leasing Sale & Lease Back Linear (sg %) İŞ LEASİNG June 2018 Investor Relations
Slide 5: Turkey Leasing Penetration
Leasing Sector Investor Presentation 5 Turkey Leasing Penetration Leasing penetration is still at low levels compared to EU average of 15% and North America average of 21,5%. 12% 10% 8% 6% 4% 2% 0% 2005 2007 2009 2011 2013 2015 2017 Penetration: Leasing volume/ Private sector fixed investments İŞ LE
Slide 6: Leasing Receivables
Leasing Sector Investor Presentation 6 Leasing Receivables TL % FX % 14.000 12.699 12.632 12.509 120,00% 9.530 10.895 13.034 12.000 100,00% 10.000 23% 26% 28% 28% 25% 24% 80,00% 8.000 60,00% 6.000 40,00% 4.000 20,00% 2.000 0 0,00% 2012 2013 2014 2015 2016 2017 Q2 İŞ LEASİNG June 2018 Investor Relati
Slide 7: Customer Base
Leasing Sector Investor Presentation 7 Customer Base 70.000 12% 10,65% 10,93% 10,02% 60.000 9,04% 10% 8,7% 9,03% 8,18% 8,19% 8,02% 50.000 8% 40.000 6% 30.000 4% 20.000 2% 10.000 - 0% 2010 2011 2012 2013 2014 2015 2016 2017 2018/Q2 Sector Total İş Leasing Share İŞ LEASİNG June 2018 Investor Relations
Slide 8: Company Overview
Company Overview
Slide 9: Milestones & Shareholders
History Investor Presentation 9 Milestones & Shareholders 2011 1985 1995 First corporate Leasing Law İş Bank group took bond issuer in Enacted over leasing sector 1988 2000 Established by İş Listed in İstanbul Stock Bank, Soc Gen and Exchange (ISFIN)) IFC Free Float 41,7% İş Bankası TSKB 28,8% 29,5%
Slide 10: Organization Chart
Company Investor Presentation 10 ORGANIZATION CHART İŞ LEASİNG June 2018 Investor Relations
Slide 11: Branch Network
Company Investor Presentation 11 BRANCH NETWORK Avcılar Şişli Kartal Kozyatağı Trabzon Ostim Bursa Ankara Kayseri Diyarbakır İzmir Konya Gaziantep Antalya Adana 15 Branches 51 Sales staff 153 Total staff İŞ LEASİNG June 2018 Investor Relations
Slide 12: Lease Portfolio
Lease Portfolio
Slide 13: Sales Channels
Lease portfolio Investor Presentation 13 SALES CHANNELS 2017 2018/Q2 İŞ BANK DIRECT MARKETING VENDORS İŞ BANK DIRECT MARKETING VENDORS 16% 15% 64% İşbank: 1342 local and 22 foreign branches, largest 64% 20% 21% network among private banks. İŞ LEASİNG June 2018 Investor Relations
Slide 14: Sectoral Distribution, %
Lease portfolio Investor Presentation 14 SECTORAL DISTRIBUTION, % 2017 2018 Q2 33,01 33,48 27,46 24,42 12,75 11,54 10,09 10,24 7,33 6,47 4,83 4,30 4,59 3,48 3,27 2,74 CONSTRUCT METAL IND. TEXTILE TRANSPORT RETAIL CHEMICALS FINANCE OTHER İŞ LEASİNG June 2018 Investor Relations
Slide 15: Asset Distribution, %
Lease portfolio Investor Presentation 15 ASSET DISTRIBUTION, % 2017 2018 Q2 34,04 32,37 21,02 20,94 19,74 19,88 17,99 17,22 4,03 4,80 4,32 3,65 REAL ESTATE MACHINERY CONSTRUCTION MACH. TEXTILE TRANSPORTATION OTHER İŞ LEASİNG June 2018 Investor Relations
Slide 16: Geographical Distribution, %
Lease portfolio Investor Presentation 16 GEOGRAPHICAL DISTRIBUTION, % ANKARA 16,19% GAZİANTEP 4,43% BURSA 3,58% İSTANBUL 45,17% İZMİR 4,96% KONYA 2,96% ANTALYA 1,80% OTHER 20,92% İŞ LEASİNG June 2018 Investor Relations
Slide 17: Maturity Distribution, %
Leasing - Borrowing Investor Presentation 17 MATURITY DISTRIBUTION, % 2017 2018 Q2 LEASİNG BORROWINGS 23,28 LEASİNG BORROWINGS 23,83 18,29 18,49 18,24 18,49 16,56 17,86 11,34 9,24 8,03 6,46 USD EUR TRY USD EUR TL average, months *TL funded by equity is included in the calculation. İŞ LEASİNG June 20
Slide 18: Currency Distribution, %
Lease portfolio Investor Presentation 18 CURRENCY DISTRIBUTION, % TL TL TL 36% 36% 39% USD USD USD 23% 32% 24% EUR EUR EUR 38% 33% 39% 2018/Q2 2017 2016 İŞ LEASİNG June 2018 Investor Relations
Slide 19: Leverage and TRY Receivables
Borrowing Investor Presentation 19 LEVERAGE Leverage(solo) TRY Receivables Equity TL Debt TL Portfolio 5,0 4,6 4,3 4,3 3,9 932 1.166 1.477 1.760 1.862 3,1 306 474 722 920 991 626 692 755 840 871 2013 2014 2015 2016 2017 2018/Q2 2014 2015 2016 2017 2018/Q2 Increased leverage by gaining market share İ
Slide 20: Funding Policy
Borrowing Investor Presentation 20 FUNDING POLICY • Strong relations with international and local banks. o Closed a club loan transaction of 80 million US$ in 2018. o Bilateral loans (all unsecured) • First TL corporate bond issuer in leasing sector, outstanding nominal balance 1.4 billion TL, matur
Slide 21: Financial Performance
Financial Performance
Slide 22: Financial Highlights
Financial Perfomance Investor Presentation 22 FINANCIAL HIGHLIGHTS TL Million, consolidated 2015 2016 2017 2018 Q2 Δ Leasing Receivables, Net 3.287 4.001 4.701 5.687 21,0% Factoring Receivables, Net 1.951 2.986 4.207 4.057 -3,6% Non Performing Receivables 183 231 266 301 13,1% Provisions 140 150 180
Slide 23: Solo Key Figures
Financial Perfomance Investor Presentation 23 SOLO KEY FIGURES (Million TL) 2015 2016 2017 2018/Q2 Δ 2015 2016 2017 2018/Q2 Δ Financial Highlights İş Sector Leasing Receivables 3.249 3.921 4.617 5.585 21% 36.728 44.022 51.990 59.446 14% Total Assets 3.656 4.508 5.069 6.095 20% 40.655 48.500 58.053 6
Slide 24: NPL
Financial Perfomance Investor Presentation 24 NPL 300.000 7,99% 6,95% 6,70% 250.000 6,03% 6,26% 7,00% 5,55% 5,29% 200.000 151-240 4,80% 4,60% 4,65% 4,63% 150.000 241-360 4,31% 4,34% >360 100.000 Total 50.000 2012 2013 2014 2015 2016 2017 2018/Q2 0 Sector İş Leasing(solo) Dec-15 Mar-16 Jun-16 Sep-16
Slide 25: Collaterals
Financial Perfomance Investor Presentation 25 COLLATERALS Leased assets are legally possessed by the lessor so they are the collateral of the leasing loan. Depending on the lessee’s credit ratings and second hand value of the leased asset, additional collaterals might be demanded. Cash + LG + Mortga
Slide 26: Rating
Financial Perfomance Investor Presentation 26 RATING Foreign Currency Long-Term BB- Short-Term B Outlook Negative Turkish Lira Long-Term BB Short-Term B Outlook Negative National Long-Term AA(tur) Outlook Negative Support Score 3 Corporate Governance Rating (Saha-2016) : 9.17 İŞ LEASİNG June 2018 In
Slide 27: Disclaimer
Investor Presentation 27 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
İş Finansal Kiralama A.Ş. (İş Leasing) — Q2 2018 Earnings Presentation on 6ix