Pinar Sut Mamulleri Sanayii A.s. · BIST:PNSUT

Pinar Sut Mamulleri Sanayii A.s — Pınar Süt Mamulleri Sanayii A.Ş. — 9M 2014 Earnings Presentation

23 slides from Pinar Sut Mamulleri Sanayii A.s's earnings presentation, 2014

  1. Slide 1: Earnings Presentation, 2014 9M

    PINAR SÜT MAMULLERİ SANAYİİ A.Ş. Earnings Presentation, 2014 9M

  2. Slide 2: Highlights

    Highlights • Innovator and pioneer •Most admired company in Turkey* •Hygienic production according •Most familiar brand with mothers** to EU norms • More than 200 SKUs •Best fruit juice brand*** •Technological and industrial • R&D expertise •One of the top ten most reputable knowledge brands**** •On

  3. Slide 3: Market Dynamics

    Market Dynamics Total Number of Animals Raw Milk Base Prices in Turkey (Million Tons) 17,4 18,2 2012 2013 15,1 Total Animals 49,8 Mn 53,0 Mn +6,5% 13,5 +4,7% 12,3 12,2 12,5 Cattle 27,9% 27,2% 10,6 10,7 11,1 12,0 Sheep 55,1% 55,2% 8,4 Goats 16,8% 17,4% CAGR %7,3 Water Buffalo 0,2% 0,2% Total Number o

  4. Slide 4: Market Dynamics - II

    Market Dynamics - II Packaged Milk Market (Value) Pasteurized Milk UHT Milk UHT Milk Market (Volume) 5.2% 5.0% 1.4% 94.8% 0.9% Source: IPSOS, 2014 1Y Source: IPSOS, 2014 H1 Total Cheese Market (Value) 92.7% Others ; Spreadable 10% Yellow Cheese; Cheese; 15% Plain Flavoured Light Others 40% White Che

  5. Slide 5: Market Dynamics - III

    Market Dynamics - III Price of Food Products Raw Milk Base Prices in Turkey (TL/lt) Food Prices Processed Foods (% change) Unprocessed Foods 2014 2013 2012 1,25 TL 1,10 TL 0,95 TL 0,80 TL 0,65 TL 0,50 TL J A J O Row Milk Base Prices set by National Milk Council Source: CBT  Fluctuating raw milk pri

  6. Slide 6: Market Shares - I

    Market Shares - I Product Share Position 3.0 20% 17.6% 17.1% 16.9% 17.0% UHT Light Milk 61% #1 15% 2.0 Total UHT Milk 31% #1 10% Organic Milk * 92% #1 2.8 2.9 Enriched Milk (Kids) 63% #1 1.0 1.9 2.0 5% Homogenized Yoghurt 11% #2 Spreadable Cheese 37% #1 0.0 0% 2012 2013 9M13 9M14 Fresh Cheese 87% #1

  7. Slide 7: Market Shares - II

    Market Shares - II 64.2% 64.5% 61.1% 61.1% UHT Light Milk 41.8% Spreadable 39.2% 37.8% Cheese 36.5% 30.1% 31.8% 30.8% 31.1% Total UHT Milk 11.0% 10.1% 10.6% 10.5% Homogenized Yoghurt 2011 2012 2013 2014-9M Source: Nielsen, Value Share 6

  8. Slide 8: New Products

    New Products  Pınar Haloumi Cheese  Pınar Wire Cheese  Pınar Braided Cheese  Pınar String Cheese  Pınar Cheddar Cheeses Pınar Enjoyment Cheeses (Sliced)  Pınar Mozzeralla Kido Flavoured Milk 7

  9. Slide 9: Campaigns - I

    Campaigns - I Fruit Juices Pınar Kido Campaigns Pınar Ayran Campaigns

  10. Slide 10: Campaigns - II

    Campaigns - II Pınar Cream Cheese and Pınar Labaneh

  11. Slide 11: Campaigns - III

    Campaigns - III Plain Milk Campaigns 2014 FIBA Women's World Championship Official Beverage Supplier

  12. Slide 12: Export

    Export  Pınar accounted for 16% of Turkey’s Dairy Products Exports Breakdown of Net Sales (2014 9M) itself Direct; 5%  Export income has increased by %21 in USD in 2014 9M, Export; 12% S.Arabi; Others; 23% compared to the same period in 2013 29%  Exports to 28 different countries which include Mi

  13. Slide 13: Şanlıurfa Investment

    Şanlıurfa Investment  Pınar Süt Şanlıurfa plant, which will be established on a land of 100 thousand m²  Raw milk collected from Şanlıurfa and cities around it  The milk and dairy products will be produced in the factory. The product range will be expanded depending on the needs.  Foundation of

  14. Slide 14: Financial Results

    PINAR SÜT MAMULLERİ SANAYİİ A.Ş. Financial Results

  15. Slide 15: Sales and Profitability

    Sales and Profitability Net Sales (m TL) Net Profit (m TL) 809.8 72.9 67.4 %7,5 %7,8 727.1 699.8 651.1 57.8 60.1 57.4 577.1 600.3 54.7 480.7 45.1 %21.2 CAGR %14 %16.6 2009 2010 2011 2012 2013 9M13 9M14 2009 2010 2011 2012 2013 9M13 9M14  In 2014 9M, Net Sales grew by %16.6 in terms of EBITDA* (m TL

  16. Slide 16: Income Statement

    Income Statement YTD 30-Sep-14 30-Sep-13 Difference % Change (in million TL) Net Sales 699.8 600.3 99.5 16.6 Cost of goods Sold (582.7) (483.9) (98.8) 20.4 Gross Profit 117.1 116.4 0.7 0.6 R&D Expenses (5.6) (5.7) 0.1 (1.5) Sales, Distribution and Marketing (23.0) (46.9) 23.9 (51.0) Expenses General

  17. Slide 17: Profit Margins

    Profit Margins Gross Margin EBIT* 20.5% 19.9% 20.8% 10.5% 18.6% 16.7% 15.9% 15.7% 17.2% 7.3% 7.1% 6.7% 6.1% 6.1% 5.9% 3.6% 2011 2012 2013 3Q13 3Q14 2Q14 9M13 9M14 2011 2012 2013 3Q13 3Q14 2Q14 9M13 9M14 EBITDA** Net Profit 13.0% 11.2% 9.3% 8.9% 9.2% 7.9% 8.3% 8.4% 7.8% 7.3% 7.5% 7.8% 7.8% 6.7% 6.6%

  18. Slide 18: Basic Ratios, Net Borrowings, Working Capital

    Basic Ratios, Net Borrowings, Working Capital 30-Sep-14 31-Dec-13 30-Sep-14 31-Dec-13 (in Million TL) Current Ratio 1.24 1.51 Cash and Cash Equıivalents 2.78 0.82 Leverage Ratio 0.35 0.30 Current Borrowings 6.15 4.53 Current Borrowings/Total Borrowings 0.51 1.00 Long Term Borrowings 6.00 0.00 Net Bo

  19. Slide 19: Overview of 2014 9M

    Overview of 2014 9M  Despite the extraordinary circumstances in 2014 9M, the net sales increased by %16.6, compared to 2013 9M.  The Şanlıurfa investment is still in progress and our goal is to commence production in the last quarter of 2014. Contribution of Investment incentives is observed in th

  20. Slide 20: Strategies and Targets

    Strategies and Targets  Growing above market growth rates in the segments we operate in  Effective price management  Widespread distribution network  Efficient utilization of social media  Developments in “Away From Home” channel  Increasing export sales also in countries falling outside Gulf

  21. Slide 21: Ownership & Participation Structure & Share Performance

    Ownership & Participation Structure & Share Performance Ownership Structure Share Performance Yaşar Holding A.Ş. 61% 140 120 23,40 25,00 20,00 Free Float 39% 100 80 15,00 60 115,07 10,00 40 5,00 20 - 0,00 Participations BİST-TÜM'e göre (sol eksen) PNSUT (Sağ eksen) Share in Capital % Yasar Birleşik

  22. Slide 22: Disclaimer and Contact Information

    Disclaimer and Contact Information This presentation does not constitute an offer or invitation to purchase or subscription for any securities and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. This presentation contains forward-look

  23. Slide 23: Thank You

    PINAR SÜT MAMULLERİ SANAYİİ A.Ş. Thank You

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