Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi · BIST:DOAS
Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi — Doğuş Otomotiv Servis ve Ticaret A.Ş. — Q2 2017 Earnings Presentation
19 slides from Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi's earnings presentation, Aug 18, 2017
Slide 1: 2Q 2017 Analyst Briefing Presentation
2Q 2017 ANALYST BRIEFING PRESENTATION Kerem Talih 18 August 2017
Slide 2: 2Q 2017 DOAS Developments (YoY)
2Q 2017 DOAS DEVELOPMENTS (YoY) 1
Slide 3: 2Q 2017 Doğuş Otomotiv Main Segment Sales Performance
2Q 2017 DOGUS OTOMOTIV MAIN SEGMENT SALES PERFORMANCE Retail RETAIL MARKET DOAŞ PERFORMANCE 3
Slide 4: Competition (Retail)
COMPETITON (Retail) 2016 / JUN2017 / RETAIL MARKET 2015 2016 JUN2016 JUN2017 JUN2017 JUN2016 VW ranked 2nd in cumulative ∆ ∆ passenger vehicle market with PASSENGER VEHICLE % 12,0% market share. RENAULT 19,2 19,7 20,9 21,6 1,9 0,7 DOGUS OTOMOTİV 23,1 23,0 22,4 20,5 -2,5 -1,9 TOFAS 7,1 7,3 7,2 9,1 1,
Slide 5: 2Q 2017 Passenger Vehicle Market (%)
2Q 2017 PASSENGER VEHICLE MARKET (%) Retail - Passenger vehicle market contracted by 10% yoy. - DOAS’ market share in the passenger vehicle market was realized as 20,5%. - VW passenger vehicles has the highest sales portion in Doğuş Otomotiv and herein below mentioned models have the highest contrib
Slide 6: 2Q 2017 Light Commercial Vehicle Market (%)
2Q 2017 LIGHT COMMERCIAL VEHICLE MARKET (%) Retail - Light commercial vehicle market contracted by 5% yoy. - DOAS’s market share in light commercial vehicle market was realized as 12,7%. - Best selling models in its segment are: Caddy A 15,8% (rank 2) Transporter B 41,5% (rank 1) Amarok B CDP 15,9%
Slide 7: 2Q 2017 Doğuş Otomotiv Brand Sales Performance
2Q 2017 DOGUS OTOMOTIV BRAND SALES PERFORMANCE Wholesale WHOLESALE 6M2016 6M2017 Δ UNITS VW PV 47.910 38.834 -19% VW LCV 15.946 11.562 -27% AUDI 9.572 8.410 -12% SKODA 13.847 8.993 -35% SEAT 8.953 8.087 -10% SCANIA 1.230 631 -49% PORSCHE 370 286 -23% BENTLEY 2 6 200% LAMBORGHINI 3 3 0% DOAS TOTAL 97
Slide 8: Launches in 2017
LAUNCHES IN 2017 New: Cayenne, New: Arteon Panamera ST, and Golf Facelift: 911 GTS, 911 GT3 New: Q5, A5 SB and A8 Bentayga Diesel New: Ibiza and Arona Huracan Facelift: Leon Performante New: Kodiaq Facelift: New R-Series Octavia, Rapid, New S-Series Rapid Spaceback 8
Slide 9: Financial Performance
FINANCIAL PERFORMANCE
Slide 10: Financial Performance (mn TL)
FINANCIAL PERFORMANCE (mn TL) Net Sales EBITDA Net Profit CapEx Total Assets Working Capital** *186,5 mn TL of CapEx is arising from **Cash and cash equivalents, trade the purchase of Doğuş Oto Esenyurt. receivables and inventory are included. 9
Slide 11: Margins (%)
MARGINS (%) Gross Profit Margin OpEx/Sales EBITDA Margin %8 Cons. Max 10 % Target EBIT Margin Net Profit Margin Wholesale Market Share* *PV, LCV and HCV sales are included. 10
Slide 12: Income Statement
INCOME STATEMENT Δ 2Q2017/ Gross profit margin was realized as 10,3% and both TL’000 2Q2017 2Q2016 revenue and direct cost of revenue decreased by 3% 2Q2016 yoy. Revenue 5.215.259 5.359.824 -3% Direct cost of -4.677.498 -4.804.731 -3% Impacts on revenue and direct cost of revenue: revenue • Increase
Slide 13: Equity Accounted Investees
EQUITY ACCOUNTED INVESTEES Δ 2Q2017/ TL’000 2Q2017 2Q2016 2Q2016 Associates VDF 20.512 25.937 21% Doğuş Sigorta 908 885 3% Yüce Auto 3.322 6.461 -49% VDF Servis 5.875 6.712 -12% TÜVTÜRK N&S 15.800 16.161 -2% (Consolidated) Meiller-Doğuş* 47 -514 109% Doğuş Teknoloji -1.010 726 -239% Total 45.454 56.
Slide 14: Balance Sheet
BALANCE SHEET TL’000 30.06.2017 31.12.2016 Δ Inventories: Number of vehicles increased from 20.217 units on 31.12.2016 to 21.814 units on ASSETS 4.812.519 4.851.854 -1% 30.06.2017. Cash and cash equivalents 74.272 89.098 -17% Tangible Assets: increased by 23% due to the purchase of Doğuş Oto Esenyur
Slide 15: Financing Costs
FINANCING COSTS Δ 2Q2017/ Million TL 2Q2017 2Q2016 2Q2016 Financing Costs 166,626 124,291 34% Finance expenses, net 166,540 124,263 34% Interest expense on borrowings 160,399 119,458 34% Commission expenses on letters of guarantee 3,507 1,637 114% Other financial expenses 2,634 3,168 -17% Foreign Ex
Slide 16: Financial Performance
FINANCIAL PERFORMANCE Million TL 30.06.2017 31.12.2016 Δ Working capital 2.774 2.954 -6% Net cash position -2.551 -2.707 6% Receivable Turnover (day) 36 37 -3% Inventory Turnover (day) 65 56 17% Payable Turnover (day) 34 26 30% Million TL 30.06.2017 31.12.2016 Δ CAPEX 238 208 14% ROA 1,4% 4,9% -70%
Slide 17: Major Public Material Disclosures in 2Q 2017
Major Public Material Disclosures in 2Q 2017 30 January 2017 - Purchase of Property and Equipment The property located in Esenyurt / Istanbul and leased as the Company’s automotive showroom and aftersales service was bought in accordance with the value determined by the survey and expertise report i
Slide 18: Thank You – Q & A
THANK YOU-Q&A sh SG
Slide 19: Disclaimer
Disclaimer Doğuş Otomotiv Servis ve Ticaret A.Ş. (the “DOAS”) has prepared this presentation documents (the “Document”) consisting of documents and appendixes thereto for the sole purposes of providing information and projections and statements relating to the DOAS (the “Information”). DOAS cannot g
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