Migros Ticaret A.s. · BIST:MGROS
Migros Ticaret A.s — Q1 2014 Earnings Presentation
19 slides from Migros Ticaret A.s's earnings presentation, 2014
Slide 1: Migros Ticaret A.Ş. 1Q 2014 Financial Results
Migros Ticaret A.Ş. The Best Organized Retailer in Turkey*, 1Q 2014 Financial Results 10th year in a row ---------------------------- 2013 awards, only
Slide 2: Disclaimer Statement
Disclaimer Statement Migros Ticaret A.Ş. (the “Company”) has prepared this presentation for the sole purpose of providing information about its business, operations and financial results. The information in this presentation is subject to updating, revision and amendment. The information in this pre
Slide 3: Contents
CONTENTS Market Sales Evolution Expansion Financial Overview Ortakoy Migros Key Financial Guidance Metrics Financial Format Results Summary Macrocenter Akasya 2
Slide 4: Sales in 1Q 2014
Sales in 1Q 2014 Consolidated sales reached TL 1,773 million in 1Q 2014 corresponding to yearly growth of 11.4%. Continuous focus on pricing, creative marketing and merchandising efforts helped to stimulate the sales turnover in 1Q 2014. Quarterly Sales (TL million) Construction 1,773 1,591 1Q 2
Slide 5: Undisputed leadership position in the supermarket format
Undisputed leadership position in the supermarket format Leading market share in FMCG 16 Migros Market Share (%) 13.9% 13.2% Migros gained 70 bps market share, in 1Q 2014 vs. 12.8% 12 the same period of last year, accounting 13.9% of FMCG sales in the organized sector in Turkey 8 5.4% 5.3% 5.3% 4
Slide 6: Expansion
Expansion Domestic Sales Area Split by Format –1Q 2014 17 new stores, including 16 supermarkets and 1 Ramstore have been added to the store network in 1Q 2014 Total number of stores reached 1,017 as of March 2014 Collaboration with a petrol station company to open forecourt stores in selected
Slide 7: Financial Overview in 1Q 2014
Financial Overview in 1Q 2014 Solid Gross Profit Generation Solid EBITDA Generation Gross profit increased by 13.1% y-o-y In 1Q 2014, EBITDA rose by 10.3% y-o-y to TL 115 million and the Company to TL 477 million with a margin of delivered 6.5% EBITDA margin. 26.9% in 1Q 2014. Quarterly Gross Pr
Slide 8: Key Financial Metrics
Key Financial Metrics Sustainable Sales Growth Sustainable EBITDA generation Sales EBITDA (*): Sales without divested operations Strategy Pillars (*): EBITDA without divested operations Stable Negative Cash Conversion** Net Debt/EBITDA Net Debt / Working EBITDA Capital (*): including divested operat
Slide 9: Guidance 2014 and Medium Term
Guidance 2014 and Medium Term .Sales growth : Double digit sales growth EBITDA margin : Full year EBITDA margin range 6.0% – 6.5% .Expansion target : 100-150 new supermarkets and 2-3 hypermarkets per year Present cities Cities not covered 8
Slide 10: Financials & Format Summary
Financials & Format Summary - Financials - Operations
Slide 11: Summary of Income Statement – 1Q 2014
SUMMARY OF INCOME STATEMENT – 1Q 2014 IFRS Consolidated Income Statement Summary (TL Million) 1Q 2014 1Q 2013 Net Sales 1,772.5 1,590.7 Cost of sales -1,295.2 -1,168.6 Gross Profit 477.3 422.0 Operating Expenses -413.7 -363.3 Other Operating Income / (Expense) -16.4 -14.9 Operating Profit 47.2 43.9
Slide 12: Summary of Balance Sheet – 1Q 2014
SUMMARY OF BALANCE SHEET – 1Q 2014 IFRS Consolidated Balance Sheet Summary (TL Million) 1Q 2014 2013 Current Assets 2,036.9 1,980.7 Non-current Assets 3,798.4 3,815.9 Total Assets 5,835.3 5,796.6 Current Liabilities 2,414.5 2,360.7 Non-current Liabilities 2,665.6 2,605.7 Total Liabilities 5,080.1 4,
Slide 13: Migros Supermarkets
Migros Supermarkets Home of Pleasant Shopping Number of stores: 731* ─ 150-3,000 sqm / 3,000 – 18,000 SKUs ─ Rich product variety in fresh food ─ Wide branded assortment of FMCG products ─ Modern, fashionable, complementary and seasonal non- food selection CRM applications for different customer
Slide 14: Migros Jet Proximity Stores
Migros Jet Proximity Stores Strong growth potential Store size between 100-300 sqm 7 new Migros Jet openings in 1Q 2014 reaching 150 Migros Jet stores as of March 31, 2014. Room for further concentration in the existing big cities and expansion into others. Its network reached 24 cities. Aro
Slide 15: Tansaş Supermarkets
Tansaş Supermarkets Regional leader in the west coast of Turkey Number of stores: 199 150-1,500 sqm / 3,000 – 15,000 SKUs ─ A strong regional brand & competitive pricing strategy ─ Diverse fresh food emphasis on meat and F&V ─ Friendly service / warm and localized layout Penetration: 6 cities 14
Slide 16: Macrocenter Supermarkets
Macrocenter Supermarkets Gourmet shopping and exclusive Number of stores: 26 400 - 2,500 sqm / 10,000 SKUs ─ Upscale gourmet store serving a niche, selective customer segment with strong brand loyalty ─ Elegant design and store layout ─ Wide product range in delicatessen, appetizers and spirits.
Slide 17: 5M Hypermarkets
5M Hypermarkets Low prices and wide assortment Number of stores: 21 4,000-7,000 sqm / 25,000 SKUs ─ Wide product range; rich FMCG and non-food assortment ─ N/F product portfolio focusing on kids & women; especially kitchenware & household textile, toys and cosmetics ─ Competitive pricing 17 hy
Slide 18: Wholesale & Food Service
Wholesale & Food Service Increasing Importance of Horeca Penetration Currently operating in 7 regions through dedicated sales team. Two Cash & Carry stores in Ankara and Bodrum Dedicated warehouses and customer delivery Penetration: 7 regions 17
Slide 19: International Operations
International Operations Kazakhstan Macedonia Number of stores: 26, including 4 hypermarkets, 22 Number of supermarkets: 14 supermarkets. Owns 1 shopping mall in Almaty Owns 1 shopping mall in Skopje Total sales area of 50,111 sqm ─ Present in Almaty, Astana, Shimkent, Karaganda, Total sal