Slide 1: Pınar Süt Earnings Presentation 2019
Pınar Süt Earnings Presentation 2019
Slide 2: Pınar Süt at a Glance
2019 PINAR SÜT AT A GLANCE 565 m liter annual raw milk processing (2019) 357,360 106,505 155,000 1
Slide 3: Highlights
2019 HIGHLIGHTS 1.665 11.9% 13 billion TL Net Sales New Product Net Sales Growth Launches 45.9 14.5 1,033 millon USD million TL Empoloyees in Export Sales Capex 2019 ˗ In 2019, comparing with the last year, number of milked animals rose by 4.6%, production on the raw milk showed an increase of 3.8%
Slide 4: Market Dynamics: Production and Cost
2019 MARKET DYNAMICS PRODUCTION AND COST Number of Milked Animals and Raw Milk Production Production of Dairy Products in Turkey Milked animals, million head 32.0 TSI TSI, thousand tons 30.6 Milk production, million tons 28.5 24.6 25.5 25.2 23.9 Products 2019 2019 Change 22.1 23.0 Drinking Milk 1.66
Slide 5: Market Dynamics: Consumption and Market
2019 MARKET DYNAMICS CONSUMPTION AND MARKET Share of Packaged Products Packaged Products Penetration IPSOS IPSOS 52.8% 54.4% 96.4 96.6 95.8 95.4 40.1% 39.3% Milk Cheese Milk (UHT) Cheese 2018 2019 Total Milk and Total Cheese Turnover and Volume Nielsen, BIM Excl. +19.1% -2.1% 4.2 617.3 604.3 +14.8%
Slide 6: Market Position
2019 MARKET POSITION Pınar Süt and Competitors 2019, Nielsen, BIM Excl. Market Shares Based on Products 2019, Nielsen, BIM Excl. Product Share Position Pınar Closest Competitor Total UHT Milk 27.1% 1# UHT Light Milk 48.5% 1# Enriched Milk (Kids) 75.3% 1# Protein Milk 50.6% 1# Total Cheese 10.6% 2# T
Slide 7: Net Sales Breakdown
2019 FINANCIALS NET SALES BREAKDOWN *Other Based on 11% Product Groups Dairy *Fruit juice, sauce, other Products 89% Based on Sales Channel Export 45.9 million Dollar 16% S. Arabia 26.9% Kuwait 11.8% Direct Iraq 11.1% UAE 9.2% 2% Cyprus 5.3% *Yaşar Birleşik Pazarlama, Qatar 4.5% *YBP the distributio
Slide 8: Income Statement
2019 FINANCIALS INCOME STATEMENT 1/1/2019 1/1/2018 (Million TL) 12/31/2019 12/31/2018 Difference Change Net Sales 1,664.6 1,487.8 176.8 11.9% Cost of Goods Sold (1,461.5) (1,256.3) (205.3) 16.3% Gross Profit 203.1 231.6 (28.5) -12.3% R&D Expenses (14.3) (13.5) (0.8) 6.2% Sales, Distribution and Mark
Slide 9: Sales and Profitability – Annually
2019 FINANCIALS SALES AND PROFITABILITY – ANNUALLY Net Sales Gross Profit million TL 345.0 17.9% 20.0% 322.0 299.0 16.1% 15.9% 15.6% 18.0% 16.0% 276.0 253.0 12.2% 14.0% 230.0 207.0 12.0% 184.0 10.0% 1,665 161.0 138.0 231.6 1,488 8.0% 203.1 1,068 1,240 115.0 196.8 6.0% 1,011 92.0 69.0 191.1 4.0% 46.0
Slide 10: Sales and Profitability – Quarterly
2019 FINANCIALS SALES AND PROFITABILITY – QUARTERLY Net Sales Gross Profit milyon TL 1,665 15.9% 15.6% 15.5% 1,488 13.3% 1,240 12.2% 9.6% 374 452 433 2017 2018 2019 Q4-18 Q4-19 Q3-19 2017 2018 2019 Q4-18 Q4-19 Q3-19 EBITDA Net Profit 8.8% 7.6% 6.9% 10.6% 6.0% 5.3% 3.9% 3.8% 3.3% 3.5% 2.1% 0.2% 2017
Slide 11: Financial Ratios and Capital Expenditures
2019 FINANCIALS FINANCIAL RATIOS 2015/12 2016/12 2017/12 2018/12 2019/12 Current Ratio 1.16 1.23 1.21 1.07 1.23 Leverage Ratio 0.34 0.36 0.43 0.44 0.42 Current Borrowings/Total Borrowings (Fin.) 0.93 0.56 0.64 0.81 0.44 Net Fin. Borrowings/EBITDA 0.28 0.82 1.29 1.49 1.57 Net Fin. Borrowings/Equity 0
Slide 12: Ownership Structure
2019 OWNERSHIP STRUCTURE Shareholder Share Rate (%) Share Amount(TL) YAŞAR HOLDİNG A.Ş. 61.41 27,603,901.57 OTHER 38.59 17,347,149.68 Total 100.00 44,951,051.25 The company’s shares are traded at Borsa İstanbul Main Market-Group 1 under the ticker symbol PNSUT. 11
Slide 13: Disclaimer and Contact Information
2019 DISCLAIMER AND CONTACT INFORMATON BİLGİLERİ 12