Bim Birlesik Magazalar A.s. · BIST:BIMAS

Bim Birlesik Magazalar A.s — Q1 2024 Earnings Presentation

26 slides from Bim Birlesik Magazalar A.s's earnings presentation, 2024

  1. Slide 1: 1Q 2024 Financial Results

    BIM. 1Q | 2024 FINANCIAL RESULTS

  2. Slide 2: Notice

    NOTICE The information contained in this document has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. Neither t

  3. Slide 3: Highlights

    P R E S E N T A T I O N Highlights Operational Financial Performance Performance R E S U L T S 2 0 2 4 1 Q B I M Q &A APPDX

  4. Slide 4: Headlines of Key Figures for 1Q24

    HEADLINES of KEY FIGURES for 1Q24 (with TAS 29 inflation accounting on financials) Highlights 103.8 billion TL 5.0% Customer traffic growth SALES (+17% YoY) (in Q124 YoY) P R E S E N T A T I O N 3.6 billion TL 12,791 Total stores CAPEX (3.5% of sales) (309 net new R E S U L T S stores in 1Q24) 4.4 b

  5. Slide 5: Operational Performance

    P R E S E N T A T I O N Highlights Operational Financial Performance Performance R E S U L T S 2 0 2 4 1 Q B I M Q &A APPDX

  6. Slide 6: Like for Like Sales Increase (BIM Turkiye)

    LIKE FOR LIKE SALES INCREASE (BIM TURKIYE*) Operational Performance QUARTERLY (w/o TAS 29) 2023 Q1 2024 Q1 CHANGE Like-For-Like Sales (per store/per day (TL) 51,086 88,842 73.9% P R E S E N T A T I O N Like-For-Like Basket (TL/per visit) 96.01 158.97 65.6% Like-For-Like Customer Traffic (per store/p

  7. Slide 7: Expansion

    EXPANSION Operational QUARTERLY Performance 365 356 711 338 687 329 244 321 668 236 659 641 223 P R E S E N T A T I O N 219 211 11,471 11,203 10,611 10,817 10,352 R E S U L T S 1Q23 2Q23 3Q23 4Q23 1Q24 2 0 2 4 1 Q B I M TOTAL 11,525 11,818 12,046 12,482 12,791 Openings (q-q) 15 293 228 436 309 • Sto

  8. Slide 8: Capex

    CAPEX Operational Performance QUARTERLY (w/o TAS 29 inflation accounting) QUARTERLY (with TAS 29 inflation accounting) P R E S E N T A T I O N 4.3% 3.2% 3.5% 3.5% 3.5% 3.0% 3.1% R E S U L T S 2 0 2 4 3,626 3,628 3,543 2,758 1 Q 2,237 B I M 2,025 1,638 1Q23 1Q24 1Q23 2Q23 3Q23 4Q23 1Q24 Capex Capex t

  9. Slide 9: Financial Performance

    P R E S E N T A T I O N Highlights Operational Financial Performance Performance R E S U L T S 2 0 2 4 1 Q B I M Q &A APPDX

  10. Slide 10: Net Sales

    NET SALES Financial Performance QUARTERLY (w/o TAS 29) QUARTERLY (with TAS 29) P R E S E N T A T I O N 95% y-y 17% y-y R E S U L T S 100,296 103,768 2 0 2 4 83,417 74,406 57,878 1 Q 51,335 88,628 B I M 1Q23 2Q23 3Q23 4Q23 1Q24 1Q23 1Q24 Revenues (TRY m) Revenues (TRY m)

  11. Slide 11: Gross Profit

    GROSS PROFIT Financial Performance QUARTERLY (w/o TAS 29) QUARTERLY (with TAS 29) P R E S E N T A T I O N 17.2% 20.9% 20.6% 19.5% 18.5% 15.2% 18.0% R E S U L T S 17,856 2 0 2 4 20,648 13,497 15,571 16,304 1 Q 9,220 10,694 B I M 1Q23 2Q23 3Q23 4Q23 1Q24 1Q23 1Q24 Gross Profit (TRY m) Gross Margin Gro

  12. Slide 12: Operating Leverage

    OPERATING LEVERAGE Financial Performance QUARTERLY (w/o TAS 29) QUARTERLY (with TAS 29) P R E S E N T A T I O N 14.8% 15.1% 16.1% 13.7% 13.6% 12.9% 12.9% R E S U L T S 16,680 2 0 2 4 14,810 13,342 10,147 10,796 1 Q 7,030 7,455 B I M 1Q23 2Q23 3Q23 4Q23 1Q24 1Q23 1Q24 Opex (TRY m) Opex to Sales (%) O

  13. Slide 13: Opex Management Quarterly

    OPEX MANAGEMENT QUARTERLY * Financial Performance 19% 18% +158bp -2bp +5bp +1bp +2bp 16.07% 17% -44bp -18bp 16% 15.05% 15% P R E S E N T A T I O N 14% 13% 12% 11% R E S U L T S 10% 1Q23 OPEX Personnel Utility Packaging Vehicles fuel Advertising D&A Other 1Q24 OPEX expenses Expense Expenses & costs 2

  14. Slide 14: EBITDA

    EBITDA Financial Performance QUARTERLY (w/o TAS 29) QUARTERLY (with TAS 29) P R E S E N T A T I O N 9.0% 8.3% 4.3% 7.4% 7.6% 6.1% 3.4% R E S U L T S 2 0 2 4 7,660 6,672 6,883 4,449 1 Q 4,292 3,013 B I M 3,138 1Q23 2Q23 3Q23 4Q23 1Q24 1Q23 1Q24 EBITDA (TRY m) EBITDA Margin EBITDA (TRY m) EBITDA Margi

  15. Slide 15: Net Income

    NET INCOME Financial Performance QUARTERLY (w/o TAS 29) QUARTERLY (with TAS 29) P R E S E N T A T I O N 5.2% 5.1% 3.7% 4.9% 4.4% 2.6% R E S U L T S 1.3% 4,234 4,425 3,878 2 0 2 4 3,849 2,845 1 Q B I M 1,354 1,165 1Q23 2Q23 3Q23 4Q23 1Q24 1Q23 1Q24 Net Income (TRY m) Net Margin Net Income (TRY m) Net

  16. Slide 16: Quarterly Cash Flow Bridge

    QUARTERLY CASH FLOW BRIDGE* Financial Performance 14 3,543 Total 6,881 474 9,438 1,349 Total P R E S E N T A T I O N 6,988 STFA 4,624 STFA 3,382 R E S U L T S Cash Cash 4,814 2 0 2 4 3,607 1 Q B I M Cash position Funds from Change in NWC CAPEX Lease Payment Other Cash position including ST operation

  17. Slide 17: Revenue Breakdown

    REVENUE BREAKDOWN Financial Performance BY FORMAT AND GEOGRAPHY* BY CATEGORY BİM Türkiye 1Q24 1Q24 P R E S E N T A T I O N 7% 31% 6% 27% R E S U L T S 87% 89% 1Q23 4% 60% 64% 1Q23 4% 1% 1% 2 0 2 4 6% 1 Q 2% B I M 7% 1% BİM TR FİLE BİM MAROC BİM EGYPT Private Label Branded Spot Exclusive *Without TAS

  18. Slide 18: FİLE

    FİLE Financial Performance P R E S E N T A T I O N 244 stores in 28 4th FİLE online shopping cities. 8 new warehouse to platform operates stores in 1Q24. be opened with 64 stores, two of nearby Izmir. which are dark stores. R E S U L T S 2 0 2 4 244 Stores 1 Q B I M 3 Logistic +40 stores in 2024 34%

  19. Slide 19: Foreign Operations

    FOREIGN OPERATIONS Financial Performance BIM MAROC MAROC P R E S E N T A T I O N 4.4 bn TL %4 of 4,547 711 Stores 4 logistic Sales Consolidated Employees as of 1Q24 centers EBITDA* R E S U L T S BIM EGYPT 2 0 2 4 1 Q B I M EGYPT 1.2 bn TL 1% of 2,472 365 Stores 2 distribution Sales Consolidated Empl

  20. Slide 20: Q&A

    P R E S E N T A T I O N Highlights Operational Financial Performance Performance R E S U L T S 2 0 2 4 1 Q B I M Q &A APPDX

  21. Slide 21: Appendix

    P R E S E N T A T I O N Highlights Operational Financial Performance Performance R E S U L T S 2 0 2 4 1 Q B I M Q &A APPDX

  22. Slide 22: TFRS Income Statement (with TAS 29)

    TFRS INCOME STATEMENT (with TAS 29) APPDX 3 months ended 31 March Change % TL million 1Q 2023 1Q 2024 YoY Net Sales 88,628 103,768 17% P R E S E N T A T I O N COGS (75,132) (85,912) 14% Gross Profit 13,497 17,856 32% Total SG&A (13,342) (16,680) 25% EBIT 155 1,176 660% R E S U L T S Net financial in

  23. Slide 23: TFRS Income Statement (w/o TAS 29)

    TFRS INCOME STATEMENT (w/o TAS 29) APPDX 3 months ended 31 March Change % TL million 1Q 2023 1Q 2024 YoY Net Sales 51,335 100,296 95% P R E S E N T A T I O N COGS (42,115) (79,648) 89% Gross Profit 9,220 20,648 124% Total SG&A (7,030) (14,810) 111% EBIT 2,190 5,838 167% R E S U L T S Net financial i

  24. Slide 24: TFRS Income Statement (w/o TAS 29, w/o TFRS 16)

    TFRS INCOME STATEMENT (w/o TAS 29 – w/o TFRS 16) APPDX 3 months ended 31 March Change % TL million 1Q 2023 1Q 2024 YoY Net Sales 51,335 100,296 95% P R E S E N T A T I O N COGS (42,115) (79,648) 89% Gross Profit 9,220 20,648 124% Total SG&A (7,337) (15,264) 108% EBIT 1,883 5,384 186% R E S U L T S N

  25. Slide 25: TFRS Balance Sheet (with TAS 29)

    TFRS BALANCE SHEET (with TAS 29) As of APPDX TL Million 31 December 2023 31 March 2024 TOTAL CURRENT ASSETS 62,662 76,454 Cash & Cash Equivalents 4,150 4,814 Financial Investments 3,891 4,624 Trade Receivables 18,554 20,875 Prepayments 2,413 4,429 Inventories 31,444 38,460 P R E S E N T A T I O N Ot

  26. Slide 26: TFRS Cash Flow (with TAS 29)

    TFRS CASH FLOW (with TAS 29) APPDX 3 months ended 31 March TL million 1Q 2023 1Q 2024 Net Income 1,154 3,878 D&A 2,858 3,273 Non Cash Tax Expense 2,856 2,546 P R E S E N T A T I O N Other Non-Cash Items (626) (964) Funds From Operations 6,241 8,734 Change In Net Working Capital (2,728) (1,012) Tax &

BİM Birleşik Mağazalar A.Ş. — Q1 2024 Earnings Presentation on 6ix