Koc Holding A.s. · BIST:KCHOL
Koc Holding A.s — 9M19 Earnings Presentation
18 slides from Koc Holding A.s's earnings presentation, Nov 8, 2019
Slide 1: Koç Holding 9M19 Earnings Presentation
Koç Holding 9M19 Earnings Presentation 8 November 2019
Slide 2: Focus on Sustainability and Resilience
Focus on Sustainability and Resilience Dividend Income (TL mn) NAV Breakdown by Sector2 Other 9% Auto 1 2,692 2,503 (PC & CV Mfg) ~2x Fi nance 23% 14% 2,337 1,228 1,291 Cons . Auto Dura bles (Other) 10% 9% Oi l & Ga s 2016 2017 2018 2019 Di s tribution Refi ning 4% 26% - Sustained dividend income -
Slide 3: Disciplined Approach
Disciplined Approach Strong US$ 2.7 bn gross cash → 78% in US$, 22% in TL US$ 2.2 bn total debt Cash Position (Solo) US$ +427 mn net cash (US$ +651 mn including YKB AT1) 3 Eurobonds totaling US$ 2.25 bn Stable - Mar’19: US$ 750 mn, 6 yrs, 6.5% coupon (to prefinance US$750mn Eurobond due in Apr’20) F
Slide 4: Energy
Energy Sales Volume, Domestic Market (mn tons) Aygaz (‘000 tons) -5% Sales Volume Ranking: #1 Energy Segment Share in Share in 1,553 1,543 Combined Consolidated 701 Operating Profit 2 Net Income 731 +3% 38 25 -1% +1% 571 555 28% 7% 243 232 Diesel Jet Fuel Gasoline LPG 9M18 9M19 8M18 16.92 3.38 1.61
Slide 5: Automotive
Automotive Sales Units, Domestic Market (‘000) Export Units, Turkey (‘000) Koç Koç Share 14% 18% 53% 53% 22% 23% 22% 25% Share 44% 44% Automotive Segment -40% -6% Share in Share in -37% 972 Combined Consolidated 914 Operating Profit 1 Net Income -48% -52% 30% 37% Passenger Light Heavy TOTAL Cars Com
Slide 6: Consumer Durables
Consumer Durables Sales Units, Market (mn) Export Units, Turkey (mn) +2% Consumer Durables Segment +1% 15.7 15.9 Share in Share in -10% Combined Consolidated +3% Operating Profit 1 Net Income 13% 10% Western Eastern Turkey S. Africa Europe Europe 9M18 5.9 38.4 12.9 1.5 9M18 9M19 9M19 5.3 39.1 13.3 1
Slide 7: Finance
Finance YKB Profitability YKB Operational Performance Net Income (NI) & ROTE Cost/Income CoR Pre-Provision Profit (PPP) (TL mn) Finance Segment +9% 9,193 PPP 8,450 14.2% 36.5% Share in Share in 11.8% 35.7% 2.56% 2.53% Combined Consolidated Operating Profit Net Income NI 3,586 -7% 3,337 29% 37% 9M18
Slide 8: Group’s Overall Financial Performance
Group’s Overall Financial Performance Consumer TL mn, 9M19 Energy Automotive Finance Other Total Durables Combined Revenues 1 115,890 51,564 26,769 36,596 12,209 243,028 y/y 4% 11% 21% 20% 28% 10% Combined Operating Profit2 4,018 4,346 1,805 4,112 98 14,380 y/y -51% 10% 22% -10% 2537% -21% Combined
Slide 9: Consolidated Net Income
Consolidated Net Income 1 1 Consolidated Net Income (TL mn) Normalized Normalized +14% -12% y/y -72% +3% +29% -7% +26% -14% 3,827 70 62 3,281 40 - 633 -86 9M18 Energy Auto Cons. Durables Finance Other 9M19 9M18 9M19 Other Other Energy 6% 9% 7% Energy Auto 23% 37% Finance 34% Auto Finance 30% 37% Con
Slide 10: Wrap-Up
Wrap-Up Diversified portfolio and disciplined risk policies ensuring resilience Value creation and diversifying further always a key priority Solid net cash position www.koc.com.tr 10
Slide 11: Disclaimer
Disclaimer This presentation does contain forward-looking statements that reflect the Company management’s current views with respect to certain future events based on the base-case assumptions. Although it is believed that the expectations reflected in these statements are reasonable, they may be a
Slide 12: ANNEX
ANNEX www.koc.com.tr] 12
Slide 13: Consolidated Main Financial Indicators
Consolidated Main Financial Indicators 9M19 TL mn 9M18 9M19 Y/Y € mn $ mn Revenues 103,414 114,114 10% 18,033 20,267 Gross Profit 16,604 16,092 -3% 2,543 2,858 Operating Profit 8,433 8,289 -2% 1,310 1,472 Profit Before Tax 5,915 4,513 -24% 713 802 Taxes (net) -406 -139 -66% -22 -25 Net Income Before
Slide 14: Combined Net Income – Consolidated Net Income
Combined Net Income – Consolidated Net Income Combined Net Income (TL mn) 1 y/y -66% +7% +21% -7% +14% -16% Normalized -14% 1 Normalized +13% 9,789 8,271 3,636 3,388 2,498 2,702 2,898 852 620 752 381 334 Energy Auto Cons. Durables Finance Other Total Consolidated Net Income (TL mn) 1 y/y -72% +3% +2
Slide 15: Unlisted Companies
Unlisted Companies 1H19 Koç Hol di ng Revenues Opera ting Profi t1 EBITDA Book Va l ue (SHE) TL mn Di rect Sha re 1H18 1H19 1H18 1H19 1H18 1H19 1H18 1H19 Arçel i k LG Kl i ma 5.00% 670 568 50 54 57 64 296 318 Bi l kom 69.94% 1,271 1,620 37 77 38 78 86 158 Düzey 31.15% 869 908 -5 9 -3 17 18 0 Entek 4
Slide 16: 2019 Expectations of Listed Koç Group Companies
2019 Expectations of Listed Koç Group Companies TÜPRAŞ 2018A 2019E ARÇELİK 2018A 2019E Sector Sector Med Complex ($/bbl) 4.6 2.75-3.25 Total WG Sales -17% -15% Tüpraş Arçelik Net Margin ($/bbl) 9.3 4.0-4.5 Revenue +29% +20-25% CUR 96% 95-100% EBITDA Margin 10.4% 10.5% Production (mn tons) 25.7 28.0
Slide 17: Shareholding Structures
Shareholding Structures Koç Holding Koç Family: 64.3%1 Free Float: 26.5% Vehbi Koç Foundation: 7.3% Koç Pension Fund: 2% Consumer Energy Automotive Finance Other Durables Tüpraş Ford Otosan Arçelik Yapı Kredi Bank Tat Gıda SPV: 51% KH: 38% KH: 41% KFS: 81.9% KH: 44% Free float: 49% Ford: 41% Other K
Slide 18: For Further Questions, Please Contact
For Further Questions, Please Contact : investorrelations@koc.com.tr www.koc.com.tr IR Application Nursel İlgen, CFA, Coordinator Investor Relations nurseli@koc.com.tr +90 216 531 0414 Neslihan Aycıl, Manager Investor Relations neslihana@koc.com.tr +90 216 531 0516 www.koc.com.tr 18