Bim Birlesik Magazalar A.s. · BIST:BIMAS

Bim Birlesik Magazalar A.s — Q1 2018 Earnings Presentation

15 slides from Bim Birlesik Magazalar A.s's earnings presentation, May 2018

  1. Slide 1: Results Presentation

    RESULTS PRESENTATION For the 3 months to 31 March 2018

  2. Slide 2: Notice

    NOTICE The information contained in this document has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. Neither t

  3. Slide 3: Headlines for Q1 2018

    HEADLINES FOR Q1 2018 7,0TL billion 364 TL million 193TL million CAPEX EBITDA (20% YoY) Sales (+22% YoY) at 2,8% of sales %5,2 EBITDA Margin Strong EBITDA and Continued Net sales picking up profit margins Expansion Stores: FILE 234 TL million 6.257 in Turkey (BIM) 399 in Morocco EBITDA Positive (19%

  4. Slide 4: Quarterly Net Sales and Gross Profit

    QUARTERLY NET SALES AND GROSS PROFIT Net Sales, Quarterly (TL million) Gross Profit, Quarterly (TL million) 1Q18 6.970 1Q18 1.218 4Q17 6.597 4Q17 1.100 3Q17 1.087 3Q17 6.263 2Q17 1.054 2Q17 6.213 1Q17 986 1Q17 5.707 Gross Margin (%) 1Q17 2Q17 3Q17 4Q17 1Q18 17,3% 17,0% 17,3% 16,7% 17,5% Q117/Q118 Q1

  5. Slide 5: Quarterly EBITDA and EBIT

    QUARTERLY EBITDA AND EBIT EBITDA and EBIT Quarterly (TL million) 364 1Q18 286 EBITDA Margin 324 4Q17 1Q17 2Q17 3Q17 4Q17 1Q18 258 5,3% 5,2% 5,5% 4,9% 5,2% 343 3Q17 276 EBIT Margin 1Q17 2Q17 3Q17 4Q17 1Q18 325 2Q17 261 4,3% 4,2% 4,4% 3,9% 4,1% 304 1Q17 244 EBITDA EBIT EBITDA EBIT (1Q17/1Q18) (1Q17/1Q

  6. Slide 6: Quarterly Net Income

    QUARTERLY NET INCOME Net Income, Quarterly (TL million) Net Income Margin 1Q18 234 1Q17 2Q17 3Q17 4Q17 1Q18 3,5% 3,5% 3,6% 3,4% 3,4% 4Q17 222 3Q17 227 Some pressures on Net Income ; • Corporate tax rate increased by 2% in 2018 2Q17 217 • Market price valuation of land & buildings 1Q17 198 which we d

  7. Slide 7: Like for Like Sales Increase

    LIKE FOR LIKE SALES INCREASE BIM TURKEY Quarterly 2017 Q1 2018 Q1 CHANGE Like-For-Like Sales (per 10.970 12.340 12,5% store/per day -TL) Like-For-Like Basket (TL) 15,85 17,67 11,4% Like-For-Like Customer 692,0 698,6 1,0% Traffic (Per store/per Day) (*)Note: calculated on the basis of net sales gener

  8. Slide 8: CAPEX

    CAPEX 2,8% 2,8% 2,1% 2,4% 2,4% 193 176 160 • One warehouse opened in Q1 150 122 • Three others (including one FILE) are under construction • Q1 maintenance CAPEX corresponds to 35% of total 1Q17 2Q17 3Q17 4Q17 1Q18 CAPEX- ml TL % of Net Sales 8

  9. Slide 9: Strong Store Growth Continues

    STRONG STORE GROWTH CONTINUES Number of Stores Store Growth Q118 6.305 676 6.981 * (1Q17/1Q18) 10,5% Q417 6.118 647 6.765 * Q317 6.039 636 6.675 * New Openings in Q1 216 Q217 5.947 613 6.560 * stores Q117 5.744 574 6.318* New Openings annually Turkey (Inc. FILE) Foreign 663 stores Note (*): Total nu

  10. Slide 10: Foreign Operations & FILE Highlights

    FOREIGN OPERATIONS & FİLE HIGHLIGHTS MOROCCO EGYPT • 17 new stores opened • 12 new stores opened • In total we have 399 stores in Morocco • In total we have 277 stores as at Q1 18 as at Q1 18 • EBITDA POSITIVE in Q1 18 FİLE • 4 new stores opened this quarter • By the end of Q1 we have reached 48 sto

  11. Slide 11: Birlesik Magazalar A.S.

    BIRLESIK MAGAZALARAS.

  12. Slide 12: Appendix: IFRS Financials

    APPENDIX IFRS Financials 12

  13. Slide 13: IFRS Income Statement

    IFRS INCOME STATEMENT 3 months ended 31 March TL million 2017 2018 Change Net Sales 5.706,6 6.969,9 22,1% (COGS) (4.721,1) (5.752,0) 21,8% Gross Profit 985,5 1.217,9 23,6% Total SG&A (681,7) (854,2) 25,3% EBITDA 303,8 363,7 19,7% D&A (59,9) (77,5) 29,4% EBIT 243,9 286,2 17,3% Net financial income/(e

  14. Slide 14: IFRS Balance Sheet

    IFRS BALANCE SHEET As at 31 March TL million Q1 2017 Q1 2018 Intangible assets 7,9 12,9 Tangible assets 2.155,1 3.170,2 Financial Investments (long term) 193,4 309,7 Other non-current assets 39,4 41,4 Total fixed assets 2.395,8 3.534,2 Trades receivable 688,1 939,2 Inventories 1.262,1 1.635,4 Prepay

  15. Slide 15: IFRS Cash Flow

    IFRS CASH FLOW 3 months ended 31 March TL million 2017 2018 Net Income 197,8 234,3 D&A 59,9 77,5 Non cash tax expense 54,8 72,2 Other non-cash items 49,9 1,9 Funds from operations 362,4 385,9 Change in net working capital (33,7) (118,6) Tax & other payments (46,9) (48,8) Operating cash flow 281,8 21

BİM Birleşik Mağazalar A.Ş. — Q1 2018 Earnings Presentation on 6ix