Is Finansal Kiralama A.s. · BIST:ISFIN

Is Finansal Kiralama A.s — Investor Presentation (December 2011)

28 slides from Is Finansal Kiralama A.s's investor presentation, Dec 31, 2011

  1. Slide 1: Investor Presentation

    Investor Presentation December 31, 2011

  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.  1 % VAT on selected machinery. (Finance Ministry decree dated 27/12/2011)  FX borrowing option (Bank FX loans have some restrictions)  Fast credit approvals (leased asset ownership), flexible paym

  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 * 5301 %54 %47 5271 12% 4891 10% %34 4263 8% %63 %45 3182 6% 2900 -%59 4% %83 2165 2198 2% 1327 0% 2000 2001 2002 2003 2004 2005 2006 2007 200

  5. Slide 5: Market Shares, New Leasing Transactions

    MARKET SHARES, New Leasing Transactions 32,7 % 2009 2010 2011 29,5 25,87 19,2 19,48 17,60 16,1 15,4 14,7 14,6 9,0 8,14 9,0 7,9 7,2 8,10 7,2 6,94 7,02 5,5 6,85 4,1 4,5 3,3 YAPI KREDİ GARANTİ İŞ BNP AK HALK DENİZ OTHERS Source: Fider 5

  6. Slide 6: Company Overview

    Company Overview

  7. Slide 7: Milestones & Ownership

    MILESTONES & OWNERSHIP • Financial leasing law enacted in 1985. CAMİŞ NEMTAŞ • İş Leasing established in 1988 by 0,83% 0,07% İş Bank, IFC and Societe İŞ BANK Generale. FREE 27,79% FLOAT • IFC and SocGen transferred 42,67% leasing know-how and expertise, İş Bank branches provided access to the market

  8. Slide 8: Participations

    PARTICIPATIONS Total Share Capital İş Leasing (TRY) Share Equity Participations (TRY) (%) İş Yatırım Menkul Değerler A.Ş. 200,000,000 4,864,851 2.43 Camiş Menkul Değerler A.Ş. 4,696,000 2,471 0.05 Total Share Capital İş Leasing (TRY) Share Subsidiaries (TRY) (%) İş Factoring Finansman Hiz. A.Ş. 16,0

  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 9

  10. Slide 10: Lease Portfolio

    Lease Portfolio

  11. Slide 11: Turnover & Market Share

    TURNOVER & MARKET SHARE 445 398 61 9,0 349 359 0 21 8,1 35 286 7,9 2 6,9 6,6 174 398 384 314 338 27 284 5,4 146 2006 2007 2008 2009 2010 2011 2006 2007 2008 2009 2010 2011 Non-group turnover İş group turnover Total turnover Million USD Percentage 11

  12. Slide 12: Sales Channels

    SALES CHANNELS Total Number of Customers DIRECT No.of SALES Customers 37% that have SUPPLIER Outstanding 8% Contract İŞ GROUP 3980 3% 50368 İŞBANK BRANCHES RECURRING 35% CUSTOMERS 17% •Total number of customers in CRM database: 54,348 İşbank has 1,159 branches • While sales channels continue to expa

  13. Slide 13: Sectoral Distribution, %

    SECTORAL DISTRIBUTION , % 21,5 2010 2011 16,1 12,4 11,211,6 10,3 10,8 9,2 9,0 7,2 6,9 6,4 6,2 6,0 4,5 4,8 4,6 4,0 4,2 3,6 3,8 3,5 3,2 3,3 3,3 2,8 2,9 2,7 2,4 2,0 • As of June 2011, transport and construction sectors have the largest shares. • İş Leasing's risks are managed by examination of sectoral

  14. Slide 14: Asset Distribution, %

    ASSET DISTRIBUTION , % 25,6 2010 2011 23,9 22,8 18,8 17,4 13,8 13,5 12,2 7,1 4,8 4,5 4,6 3,8 3,9 3,6 3,1 3,5 2,9 3,1 2,7 2,2 2,4 • As of June 2011, machinery and real estate groups have the largest shares. 14

  15. Slide 15: Portfolio Development

    PORTFOLIO DEVELOPMENT 1.400 000 TRY 1.200 TOP 30 CUSTOMERS REMAINING 1.000 800 600 400 200 43% - 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 H1 2011H1 Q3 10000 8000 Outstanding Contracts 6000 4000 2000 0 15

  16. Slide 16: Geographical Distribution

    GEOGRAPHICAL DISTRIBUTION KOCAELİ SALES OTHER 5% OFFICES STAFF 18% ANKARA AYDIN 20% Head Office 2 1% Istanbul Europe 7 MUĞLA 2% Istanbul Asia 3 ANTEP BURSA Ankara Rep. Office 6 3% 2% İZMİR Antep ” 5 4% Bursa ” 2 ANTALYA 1% İzmir ” 3 Antalya ” 3 TOTAL SALES STAFF 31 İSTANBUL 44% TOTAL HEADCOUNT 104 1

  17. Slide 17: Currency Distribution

    CURRENCY DISTRIBUTION TL 16% 2011 USD 39% EUR 44% TL 20% 2010 USD 37% EUR 43% TL 21% 2009 USD 35% EUR 44% (‘000 TRY) 2010 2011 Net FX Position (Long) 526 2.232 Net FX Position/Equity 0,1% 0,4% 17

  18. Slide 18: Maturity Distribution

    MATURITY DISTRIBUTION 2010 2011 LEASE LEASE PORTFOLIO 32 BORROWINGS BORROWINGS 25 26 24 19 16 19 13 9 8 9 0 USD EUR TL USD EUR TL average, months 18

  19. Slide 19: 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. Collaterals Cash + LG + Pledge + Buyback Mortgage 1% 8% None 1% prom. Note+ Personal Guar

  20. Slide 20: Financial Performance

    Financial Performance

  21. Slide 21: Financial Highlights

    FINANCIAL HIGHLIGHTS 31 December 30 December TRY Million Change(%) 2010 2011 Leasing Receivables, Net 936 1,398 49% Factoring Receivables, Net 331 405 22% Non Performing Receivables 89 110 24% Provisions -45 -58 29% Total Assets 2,093 2,242 7% Financial Liabilities 1,587 1,579 -1% Equity 476 520 9%

  22. Slide 22: Balance Sheet (consolidated)

    BALANCE SHEET (consolidated) 000 TL Million TRY 2009 2010 2011 2009 2010 2011 Current Assets Current Liabilities Cash and Cash Equivalents 363.8 691.3 309.6 Short Term Liabilities 893.6 1,416.4 1,353.4 Trading Securities(net) 0.1 4.4 12 Trade Payables 12.5 14.5 15.1 Leasing Receivables(net) 348.1 32

  23. Slide 23: Income Statement (consolidated)

    INCOME STATEMENT (consolidated) 000 TL Million TRY 2009 % 2010 % 2011 % Interest Income 97,986 10.9 81,488 9.2 100,636 8.6 Interest Expense (50,739) (5.2) (60,230) (4.6) (79,613) (4.9) Foreign Currency Gains/(Losses) 1,666 912 9,927 Toplam 48,913 5.5 22,170 2.5 30,950 2.7 Factoring Income 14,147 18,

  24. Slide 24: NPL

    NPL Consolidated 2008 2009 2010 2011 Gross NPL /Total Receivables % 7,0 % 10,8 % 6,9 % 6,1 Net NPL / Net Receivables % 4,3 % 6,9 % 3,5 % 2,9 120.000 100.000 000 TL 000 TL LOSS RESERVE 80.000 2011 Opening (44.607) 60.000 151-240 Reversals 1.501 40.000 241-360 >360 New provisions (14.421) 20.000 Total

  25. Slide 25: Other Issues

    Other Issues

  26. Slide 26: Ratings

    RATINGS Foreign Currency Long-Term IDR BBB- Short-Term IDR F3 Outlook Positive Local Currency Long-Term IDR BBB- Short-Term IDR F3 Outlook Positive National Long-Term Rating AAA (tur) Outlook Stable Support Rating 2 26

  27. Slide 27: Agenda

    AGENDA  Increasing synergy with İşbank branches. By more efficiently using the wide branch network of İşbank, reaching uncovered SME’s therefore smaller ticket sizes and higher spreads are targeted.  Regulatory changes are on the agenda. Although the timing of the change is not clear, the change i

  28. Slide 28: 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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