Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi · BIST:DOAS
Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi — Doğuş Otomotiv Servis ve Ticaret A.Ş. — Q1 2023 Earnings Presentation
26 slides from Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi's earnings presentation, May 10, 2023
Slide 1: 1Q 2023 Analyst Briefing Presentation
1Q 2023 ANALYST BRIEFING PRESENTATION Kerem Talih 10 MAY 2023 TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third part
Slide 2: Key Takeaways
KEY TAKEAWAYS 73% (YoY) 1.4% (YoY) 36,746 207k 15.2% Authorized Service Total sales1 Vehicle Entries1 Market share1 (Including Skoda, wholesale) (Including Skoda, retail) 289% (YoY) 3,910 5.4% > 450 Electric vehicle Net profit in TRY M. Dividend yield2 charging stations 9.74 A Corporate Governance C
Slide 3: Jan-March 2023 Doğuş Otomotiv Main Segment Sales (Retail)
JAN - MARCH 2023 DOGUS OTOMOTIV MAIN SEGMENT SALES (Retail) 300.000 240.000 180.000 120.000 60.000 RETAIL MARKET 0 Retail PV Premium LCV HCV March 22 157.794 116.834 11.194 35.216 5.744 March 23 244.854 175.421 16.616 60.550 8.883 ∆ 55% 50% 48% 72% 55% 40.000 32.000 24.000 16.000 DOAS 8.000 PERFORMA
Slide 4: Competition (Retail - March)
COMPETITION (Retail - March) VW PC ranked 5th in the RETAIL MARKET YTD March YTD March 22 Year End/ March 22/ 2021 2022 2022 2023 March 23 March 23 cumulative passenger ∆ ∆ vehicle market with 7.1% PASSENGER CAR % market share. TOFAS/STELLANTIS DOGUS OTOMOTİV 26,7 18,9 30,1 15,8 26,6 16,3 37,9 17,6
Slide 5: Jan-March 2023 Passenger Vehicle Market (%) (Retail)
JAN - MARCH 2023 PASSENGER VEHICLE MARKET (%) (Retail) 40,0 37,9 PC market increased by 50% 35,0 yoy. 30,0 26,6 25,0 24,5 22,9 19,8 20,0 17,6 DOAS shares a 17.6% market 16,2 17,6 share at 2nd place. 15,0 9,8 10,0 7,1 The strongest competitors of 5,0 DOAS in this segment are Tofas/Stellantis with 37.
Slide 6: Jan-March 2023 Light Commercial Vehicle Market (%) (Retail)
JAN - MARCH 2023 LIGHT COMMERCIAL VEHICLE MARKET (%) (Retail) 50,0 Light Commerical Vehicle 45,0 44,6 market increased by 72% 39,8 yoy. 40,0 35,0 33,5 29,4 30,0 25,0 DOAS shares a 8.3% market share at 3rd place. 20,0 15,0 14,0 12,1 10,0 8,3 6,8 5,9 5,6 Leaders in the LCV market 5,0 are Tofas/Stellan
Slide 7: Jan-March 2023 Doğuş Otomotiv Brand Sales Performance
JAN - MARCH 2023 DOĞUŞ OTOMOTIV BRAND SALES PERFORMANCE WHOLESALE UNITS 3M22 3M23 Δ DOAS TOTAL 21,545 36,746 71% VW PC SKODA VW LCV AUDI SEAT +26% +133% +123% +55% +15% 11.872 10.282 9.390 5.034 1.899 5.038 3.239 4.405 2.255 1.649 3M22 3M23 3M22 3M23 3M22 3M23 3M22 3M23 3M22 3M23 CUPRA SCANIA PORSCH
Slide 8: Jan-April 2023 Doğuş Otomotiv Main Segment Sales (Retail)
JAN - APRIL 2023 DOGUS OTOMOTIV MAIN SEGMENT SALES (Retail) 420.000 350.000 280.000 210.000 140.000 RETAIL MARKET 70.000 0 Retail PV Premium LCV HCV April 22 219.532 162.398 15.008 49.687 7.447 April 23 345.881 252.819 25.066 80.831 12.231 ∆ 58% 56% 67% 63% 64% 60.000 50.000 40.000 30.000 DOAS 20.00
Slide 9: Jan-April 2023 Doğuş Otomotiv Brand Sales Performance
JAN - APRIL 2023 DOĞUŞ OTOMOTİV BRAND SALES PERFORMANCE WHOLESALE UNITS 4M22 4M23 Δ DOAS TOTAL 30,566 51,679 69% VW PC SKODA AUDI VW LCV SEAT +27% +123% +69% +139% +32% 18.824 13.130 7.118 6.091 2.797 14.838 2.112 4.221 5.879 2.550 4M 2022 4M 2023 4M 2022 4M 2023 4M 2022 4M 2023 4M 2022 4M 2023 4M 2
Slide 10: Competition (Retail - April)
COMPETITION (Retail - April) RETAIL MARKET YTD YTD 22 Year - End/ April 22/ 2021 2022 April 2022 April 2023 April 23 April 23 ∆ ∆ PASSENGER CAR % TOFAS/STELLANTIS 26,7 30,1 24,8 36,2 6,1 11,4 RENAULT GRUP 20,7 22,5 24,7 19,1 -3,4 -5,6 DOGUS OTOMOTİV 18,9 15,8 17,2 17,4 1,6 0,1 HYUNDAI 6,6 7,1 9,5 6,
Slide 11: Financial Performance
FINANCIAL PERFORMANCE TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third parties. Passat Variant
Slide 12: Financial Performance (mn TL)
FINANCIAL PERFORMANCE (mn TL) Revenue EBITDA Net Profit 46.781 8.222 7.848 %169 %191 %289 24.306 3.997 19.450 3.275 3.910 2.336 7.240 1.374 1.005 2021 2022 3M2022 3M2023 2021 2022 3M2022 3M2023 2021 2022 3M2022 3M2023 CapEx1 Total Assets Working Capital2 %50 %51 1.219 31.022 16.573 %27 20.665 10.968
Slide 13: Margins %
MARGINS % Gross Profit Margin OpEx/Sales EBITDA Margin 22,5% 23,4% 5,6% 20,0% 20,6% 19,0% 17,6% 14,5% 3,5% 13,5% 1,8% 1,9% 2021 2022 3M2022 3M2023 2021 2022 3M2022 3M2023 2021 2022 3M2022 3M2023 EBIT Margin Net Profit Margin Wholesale Market Sales1 19,9% 94.839 85.928 18,1% 20,1% 16,9% 16,8% 12,7% 1
Slide 14: Division Based Revenue & Gross Profit (%)
DIVISION BASED REVENUE&GROSS PROFIT (%) 1 Revenue Division (%) Gross Profit Division (%) 3M 2023 67% 20% 13% 3M 2023 62% 21% 17% 3M 2022 71% 12% 17% 3M 2022 59% 11% 30% Segmentation Gross Profit Margins (%) 32% 24% 3M 2023 22% 36% 16% 18% 3M 2022 14/26 1 Mainly TR : Kurumsal bilgiler içermektedir. c
Slide 15: Income Statement Q-on-Q and Y-on-Y Comparisons
INCOME STATEMENT Q-on-Q and Y-on-Y Comparisons TL’000 1Q 2023 4Q 2022 Δ 1Q 2023 1Q 2022 Δ Wholesale Sales Volume (excl. Skoda, incl. 26.464 24.323 9% 26.464 17.140 54% Scania) Revenue 19.449.673 16.069.100 21% 19.449.673 7.240.156 169% Direct cost of revenue -14.905.448 -12.325.492 21% -14.905.448 -
Slide 16: Income Statement
INCOME STATEMENT TL’000 31.03.2023 31.03.2022 Δ Revenue 19.449.673 7.240.156 169% Direct cost of revenue -14.905.448 -5.790.195 157% Gross profit 4.544.225 1.449.961 213% Total Operational Expenses -671.281 -137.067 390% EBIT 3.872.944 1.312.894 195% Income from Investing Activities, net 167.572 25.
Slide 17: Income from Associates
INCOME FROM ASSOCIATES TL’000 31.03.2023 31.03.2022 Δ Associates Yüce Auto (Škoda) 405.864 80.418 405% vdf Servis 233.609 12.318 1796% TÜVTÜRK N&S (Consolidated) 110.021 47.120 133% Doğuş Teknoloji 18.283 3.456 429% Doğuş Sigorta 6.132 3.880 58% Total 773.909 147.192 426% 17/26 TR : Kurumsal bilgile
Slide 18: Balance Sheet
BALANCE SHEET TL’000 31.03.2023 31.12.2022 Δ Inventories: Number of vehicles increased ASSETS 31.021.844 20.665.180 50% from 6,968 units on 31.12.2022 to 12,360 units on 31.03.2023. Cash and cash equivalents 4.499.108 3.366.150 34% Trade receivables 5.047.551 3.331.831 51% Financial Liabilities: Inv
Slide 19: Financing Costs
FINANCING COSTS Thousand TL 31.03.2023 31.03.2022 Δ Financing Cost, net 250.106 204.346 22% Finance Expenses 346.281 205.987 68% Interest Expense on Borrowings 161.226 158.482 2% Commission Expenses on Letters of Guarantee 23.509 20.948 12% Foreign Exchange Losses on Borrowings, net 139.220 0 100% I
Slide 20: Financial Performance
FINANCIAL PERFORMANCE Million TL 31.03.2023 31.12.2022 Δ Working capital 16.573 10.968 51% Net Cash Position 1 -941 841 -212% Receivable Turnover (day) 24 26 -9% Inventory Turnover (day) 43 43 0% Payable Turnover (day) 36 36 0% 1 Net Cash Position is calculated in line with IFRS 16. Bank loans and e
Slide 21: What Is New?
WHAT IS NEW? The sale and transfer transactions regarding the purchasing of the shares of Doğuş Holding A.Ş., which represent 93.65% of the total capital of Doğuş Gayrimenkul Yatırım Ortaklığı A.Ş., Doğuş has been completed. This decision was made considering the GYO development of the real estate s
Slide 22: Integrated Management Systems
Integrated Management Systems 22/26teams and TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant third parties.
Slide 23: Social, Environmental and Governance Initiatives
VW AG's supply chain sustainability program moved on Human Rights to the second Education & stage Human Rights Listed in the BIST Sustainability Officer Index for the 8th time and Priorities SOCIAL ECONOMIC entered the BIST Sustainability Charrette on Participation Index In-company Human Rights Auth
Slide 24: 2023 Expectations
2023 EXPECTATIONS Sustainability and Mobility Digitalization Climate Change Priorities Operational Efficiency and Service Areas Optimum Profitability Cautious Expenditure Management OEM Strategy: Maintain represented brands’ competitive position. Total Automotive Market Investment Expenditure (PC+LC
Slide 25: Thank You – Q & A
THANK YOU – Q & A TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third parties. Scania SUPER
Slide 26: TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak
TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third parties.
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