Is Finansal Kiralama A.s. · BIST:ISFIN

Is Finansal Kiralama A.s — Investor Presentation (March 2010)

32 slides from Is Finansal Kiralama A.s's investor presentation, Mar 31, 2010

  1. Slide 1: Investor Presentation

    Investor Presentation MARCH 31, 2010

  2. Slide 2: Leasing Sector in Turkey

    LEASING SECTOR IN TURKEY

  3. Slide 3: Advantages of Leasing

    ADVANTAGES OF LEASING • Expertise on SMEs, consultancy and know-how support in addition to funding. • Fast credit approvals -leased asset ownership-, flexible payment plans. • FX borrowing option (Bank FX loans have some restrictions). 3

  4. Slide 4: Turnover

    TURNOVER %56 Leasing penetration is still at low levels 8203 compared to EU average of 15% and North America average of 18%. Million USD %24 -%35 Penetration * %47 5271 5301 12% 10% %34 4263 -%59 8% %63 6% 2900 %83 2165 2198 4% 2% 1327 727 0% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 *Leasin

  5. Slide 5: Market Shares

    MARKET SHARES New Leasing Volumes 2008 2009 İŞ FİNANS İŞ FİNANS AK 7,90% 6,86% 7,50% 7,02% 8,03% AK FORTIS 14,62% 7,72% GARANTİ GARANTİ 15,37% 15,24% DENİZ FORTIS (Dexia) 5,79% 10,94% YAPI KREDİ YAPI KREDİ 14,87% 16,15% OTHERS OTHERS 28,84% 33,15% Source: Fider 5

  6. Slide 6: First Quarters Compared

    FIRST QUARTERS COMPARED 2009 Q1 2010 Q1 İŞ FİNANS İŞ FİNANS 11,00% 11,66% 6,61% AK AK 9,09% 9,06% 11,66% FORTIS GARANTİ HALK GARANTİ 5,08% 9,78% 5,91% 20,64% DENİZ ŞEKER (Dexia) 6,44% 4,33% YAPI KREDİ YAPI KREDİ 10,52% 17,94% OTHERS OTHERS 29,50% 30,78% 563 417 Leasing volume increased %35 in 2010 Q

  7. Slide 7: Company Overview

    COMPANY OVERVIEW

  8. Slide 8: Participations

    PARTICIPATIONS Total Share Equity Participations Capital (TL) İş Leasing Share % İş Yatırım Menkul Değerler A.Ş. 119,387,000 2,904,000 2.43 Camiş Menkul Değerler A.Ş. 1,900,000 1,000 0.05 Subsidaires İş Factoring Finansman Hiz. A.Ş. 16,000,000 12,517,000 78.23 İş Yatırım (ISM EN) is a listed c ompan

  9. Slide 9: Organization Chart

    ORGANIZATION CHART INTERNAL AUDIT BOARD OF DIRECTORS GENERAL MANAGER AGM AGM AGM FINANCE MARKETING CREDIT ACCOUNTING OPERATIONS RISK MONITORING IT LEGAL DEPARTMENT HUMAN RESOURCES 10

  10. Slide 10: Lease Portfolio

    LEASE PORTFOLIO

  11. Slide 11: Turnover (million USD)

    TURNOVER million USD 448 445 53 61 359 349 21 305 35 52 183 395 384 174 12 338 136 314 27 26 253 67 171 62 146 110 1 29 62 38 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Q1 Non-group turnover İş Bank group turnover Total turnover 12

  12. Slide 12: Sales Channels

    SALES CHANNELS DIRECT SUPPLIER İŞ GROUP 7,22% SALES 1,20% 21,34% İŞBANK BRANCHES 37,45% RECURRING CUSTOMER 32.79% İşbank has 1078 branches in Turkey 13

  13. Slide 13: Customers

    CUSTOMERS Total number of customers in CRM No.of database: 46.382 Customers that have Outstanding Contract 4780 41602 33% of the leasing receivables is generated by recurring customers. 14

  14. Slide 14: Sectoral Distribution

    SECTORAL DISTRIBUTION 2009 2010 Q1 TRADE TEXTILE TRADE TEXTILE METAL IND. 3,76% 8,01% FINANCE METAL IND. 3,49% 7,17% FINANCE 8,34% 8,08% 7,20% 7,70% PAPER IND. PAPER IND. 6,00% TRANSPORT 5,76% 14,14% TRANSPORT 16,93% MINING MINING 2,18% 1,97% TOURISM OTHERS 4,35% TOURISM 11,82% OTHERS 3,74% 12,40% A

  15. Slide 15: Asset Distribution

    ASSET DISTRIBUTION 2009 2010 Q1 TEXTILE TEXTILE 5,24% TRANSPORT. 4,94% TRANSPORT. 9,75% MACHINERY 11,43% MACHINERY 25,62% OFFICE 24,67% OFFICE 4,50% 4,04% MEDICAL MEDICAL OTHER 6,19% 8,77% OTHER 3,49% PRINTING 3,65% 3,40% PRINTING TOURISM TOURISM 3,41% 2,82% 2,86% CONSTRUCTION 13,21% REAL ESTATE REA

  16. Slide 16: Portfolio Development

    PORTFOLIO DEVELOPMENT 1.000 900 800 700 600 TOP 30 CUSTOMERS REMAINING 500 400 300 200 100 - 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 10000 8000 6000 Outstanding Contracts 4000 2000 0 17

  17. Slide 17: Geographical Distribution

    GEOGRAPHICAL DISTRIBUTION KÖRFEZ REG. OTHER 4% # ANKARA 17% OFFICES SALES 11% STAFF MUĞLA BURSA Head Office 4 1% 4% Istanbul Europe 6 ANTEP REG. İZMİR 4% 5% Istanbul Asia 5 Ankara Rep. Office 5 ANTALYA 2% Antep ” 3 Bursa ” 2 İzmir ” 4 Antalya ” 4 TOTAL 33 İSTANBUL 52% 18

  18. Slide 18: Currency Distribution

    CURRENCY DISTRIBUTION TL 20,12% 2010 Q1 USD 39,26% EUR 40,61% TL 21,13% 2009 USD 34,91% EUR 43,96% TL 22,04% 2008 USD 37,13% EUR 40,83% 19

  19. Slide 19: Maturity Distribution

    MATURITY DISTRIBUTION average, months 2009 2010 Q1 LEASE PORTFOLIO 24 24 BORROWINGS 23 23 16 16 10 10 9 7 0 0 USD EUR TL USD EUR TL 20

  20. Slide 20: Collaterals

    COLLATERALS* Leased asset, since legally possessed by the lessor, is a collateral. Depending on the lessee’s credit ratings and second hand value of the leased asset, additional collaterals might be demanded. Mortgage 17% Cash + LG + Pledge + Buyback 2% prom. Note+ Personal Guarantee 81% *Group excl

  21. Slide 21: Financial Performance

    FINANCIAL PERFORMANCE

  22. Slide 22: Highlights

    HIGHLIGHTS Million TL 2008 2009 2010 Q1 ∆ Leasing Receivables 963 829 819 -1% Assets 1236 1441 1466 2% Borrowings 928 1008 1021 1% Equity 285 405 423 5% Net Profit * 76 105 15.9 -55% ROA (Avg)* 6.7% 7.9% 4.4% ROE (Avg) * 30.5% 30.6% 15.4% 23

  23. Slide 23: Balance Sheet (consolidated)

    BALANCE SHEET (consolidated) 000 TL 2008 2009 2010/Q1 2008 2009 2010/Q1 CURRENT ASSETS CURRENT LIABILITIES Cash and cash equivalents 165,411 363,754 408,533 Short-term borrowings 786,580 893,554 938,275 Trading Securities (net) 1,904 139 3,513 Trade payables 9,628 12,524 11,101 Leasing Receivables (

  24. Slide 24: Income Statement (consolidated)

    INCOME STATEMENT (consolidated) 000 TL 2008 % 2009 % 2010/Q1 % Interest income 103,948 11.8 97,986 10.9 21,597 10.5 Interest Expense (63,131) (7.3) (50,739) (5.2) (12,156) (4.8) Foreign currency gains/(losses) 4,077 1,666 (75) 44,894 5.1 48,913 5.5 9,365 4.5 Factoring Income 16,497 14,147 3,274 Gene

  25. Slide 25: Tax Reserve

    TAX RESERVE Tax Reserve carried forward 306,779,000 Other Reserves 138,987,000 Total Reserves 445,766,000 26

  26. Slide 26: NPL

    NPL 2007 2008 2009 2010 Q1 Gross NPL /Total Receivables % 7,8 % 7,0 % 10,8 % 10,5 Net NPL / Net Receivables % 4,0 % 4,3 % 6,9 % 6,6 60.000 000 TL 000 TL LOSS RESERVE 50.000 2010 Opening 39,629 40.000 Reversals (4,178) 150-240 30.000 240-360 New provisions 3,087 >360 20.000 TOTAL Write-off - 10.000 2

  27. Slide 27: Currency Position

    CURRENCY POSITION TL 000 2009 2010 Q1 Cash & cash equivalents 91,891 59,633 Finance Lease Receivables 641,511 628,860 Financial Liabilities (747,363) (712,527) Derivative Transactions 0 16 Others 18,149 32,419 Net position 4,188 8,401 Net position / Equity 1,04% 2,12% 28

  28. Slide 28: Other Issues

    OTHER ISSUES

  29. Slide 29: Main Strategies

    MAIN STRATEGIES • Increasing business flow from İşbank branches. • Focusing on recurring customers under volatile market conditions. • Maintaning a diversified creditor portfolio and competitive funding in all currencies. • Strategic partnerships / vendor agreements especially important for operatin

  30. Slide 30: Relative Share Performance

    31 Relative Share Performance 02.06.2010 02.05.2010 02.04.2010 ISFIN 02.03.2010 02.02.2010 ISFIN vs. ISE 100 02.01.2010 ISE 100 02.12.2009 02.11.2009 02.10.2009 : 325 million TL : 295 million 02.09.2009 02.08.2009 02.07.2009 02.06.2009 Mcap (16 June 2010) 02.05.2009 Total Shares 02.04.2009 02.03.200

  31. Slide 31: Ratings

    RATINGS Foreign Currency Long-Term IDR BBB- Short-Term IDR F3 Outlook Stable Local Currency Long-Term IDR BBB- Short-Term IDR F3 Outlook Stable National Long-Term Rating AAA (tur) Outlook Stable Support Rating 2 32

  32. Slide 32: Disclaimer

    DISCLAIMER The information in this document has been obtained by İş Finansal Kiralama A.Ş. (“İş Leasing”) from sources believed to be reliable, however, İş Leasing can not guarantee the accuracy, completeness, or correctness of such information. This document has been issued for information purposes

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