Is Finansal Kiralama A.s. · BIST:ISFIN

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

29 slides from Is Finansal Kiralama A.s's investor presentation, Dec 31, 2010

  1. Slide 1: Investor Presentation

    Investor Presentation December 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)  Banks can fund up to %50 of commercial real estate but there is

  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 * 5271 5301 %47 12% 10% %34 4263 %45 8% %63 3182 6% 2900 -%59 4% %83 2198 2165 2% 1327 0% 727 2000 2001 2002 2003 2004 2005 2006 2007 2008 200

  5. Slide 5: Market Shares, New Leasing Transactions

    MARKET SHARES, New Leasing Transactions 2009 2010 26,6% 27,4% 19,2% 16,1% 15,4% 14,7% 14,6% 9,7% 9,0% 9,0% 7,9% 7,2% 7,0% 7,2% 5,6% 3,3% YAPI KREDİ GARANTİ FİNANS İŞ AK DENİZ TEB+FORTIS OTHERS Source: Fider 5

  6. Slide 6: Company Overview

    Company Overview

  7. Slide 7: Milestones & Ownership

    MILESTONES & OWNERSHIP • Financial leasing law enacted in 1985. NEMTAŞ • İş Leasing established in 1988 by 0,90% İş Bank, IFC and Societe İŞ FREE BANKASI Generale. 27,79% FLOAT • IFC and SocGen transferred 42,67% leasing know-how and expertise, İş Bank branches provided access to the market. TSKB •

  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 9

  10. Slide 10: Lease Portfolio

    Lease Portfolio

  11. Slide 11: Turnover & Market Share

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

  12. Slide 12: Sales Channels

    SALES CHANNELS Total number of customers in CRM database: 49.285 DIRECT No.of SALES Customers SUPPLIER 21,2% that have 1,0% Outstanding İŞ GROUP 5,5% Contract 4539 İŞBANK RECURRING BRANCHES CUSTOMERS 44860 42,0% 30,3% İşbank has 1157 branches 12

  13. Slide 13: Sectoral Distribution

    SECTORAL DISTRIBUTION , % 16,1 2009 2010 14,1 11,2 10,8 10,1 10,5 10,3 9,6 9,0 8,3 8,0 8,1 6,9 5,8 6,0 5,9 4,8 4,6 4,4 4,5 4,2 3,5 3,8 3,3 3,2 3,2 2,8 2,9 2,4 2,0 13

  14. Slide 14: Asset Distribution

    ASSET DISTRIBUTION , % 25,6 25,6 2009 2010 19,2 18,8 13,5 13,8 13,2 11,4 7,1 6,2 5,2 4,6 5,2 3,6 3,5 3,4 4,0 3,8 3,7 2,9 3,1 2,7 14

  15. Slide 15: Portfolio Development

    000 TL PORTFOLIO DEVELOPMENT 1.000 900 800 700 600 TOP 30 CUSTOMERS REMAINING 500 400 300 200 %38 100 - 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 h1 2010 10000 8000 Outstanding Contracts 6000 4000 2000 0 15

  16. Slide 16: Geographical Distribution

    GEOGRAPHICAL DISTRIBUTION KOCAELİ # OTHER 3% ANKARA OFFICES STAFF 17% 12% BURSA Head Office 4 MUĞLA 2% 3% Istanbul Europe 5 İZMİR ANTEP REG. 6% Istanbul Asia 5 1% ANTALYA Ankara Rep. Office 6 2% Antep ” 4 Bursa ” 2 İzmir ” 4 Antalya ” 3 TOTAL SALES STAFF 33 İSTANBUL 54% TOTAL HEADCOUNT 95 16

  17. Slide 17: Currency Distribution

    CURRENCY DISTRIBUTION TL 20% 2010 USD 37% EUR 43% TL 21% 2009 USD 35% EUR 44% TL 22% 2008 USD 37% EUR 41% TL 000 2009 2010 Net FX position (Long) 4,188 526 Net FX position / Equity 1,04% 0,1% 17

  18. Slide 18: Maturity Distribution

    MATURITY DISTRIBUTION 2009 average, months 2010 LEASE PORTFOLIO BORROWINGS 26 25 24 23 19 16 13 10 9 9 0 0 USD EUR TL USD EUR TL 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. Cash + LG + Pledge + Buyback Mortgage 2% 14% None 1% prom. Note+ Personal Guarantee 81% *İş

  20. Slide 20: Financial Performance

    Financial Performance

  21. Slide 21: Financial Highlights

    FINANCIAL HIGHLIGHTS TL Million 31 December 2009 31 December 2010 Change (%) Leasing Receivables, Net 828 936 13% Non Performing Receivables 106 89 -16% Provisions -40 -45 13% Total Assets 1.441 2.093 45% Financial Liabilities 1.008 1.587 57% Equity 405 476 18% INCOME STATEMENT Net Interest Income 8

  22. Slide 22: Balance Sheet (consolidated)

    BALANCE SHEET (consolidated) 000 TL 2008 2009 2010 2008 2009 2010 CURRENT ASSETS CURRENT LIABILITIES Cash and cash equivalents 165.411 363.754 691.285 Short-term borrowings 786.580 893.554 1.416.398 Trading Securities (net) 1.904 139 4.364 Trade payables 9.628 12.524 14.480 Leasing Receivables (net)

  23. Slide 23: Income Statement (consolidated)

    INCOME STATEMENT (consolidated) 000 TL 2008 % 2009 % 2010 % Interest income 103.948 11,8 97.986 10,9 81.488 36,9 Interest Expense (63.131) (7,3) (50.739) (5,2) (60.230) (18,6) Foreign currency gains/(losses) 4.077 1.666 912 44.894 5,1 48.913 5,5 22.170 10,0 Factoring Income 16.497 14.147 18.671 Gene

  24. Slide 24: NPL

    NPL Consolidated 2007 2008 2009 2010 Gross NPL /Total Receivables % 7,8 % 7,0 % 10,8 % 6,9 Net NPL / Net Receivables % 4,0 % 4,3 % 6,9 % 3,5 120.000 000 TL 000 TL LOSS RESERVE 100.000 2010 Opening (42.600) 80.000 151-240 Reversals 6.090 60.000 241-360 40.000 >360 New provisions (12.372) 20.000 Topla

  25. Slide 25: Other Issues

    Other Issues

  26. Slide 26: Relative Share Performance

    RELATIVE SHARE PERFORMANCE 6,00 5,00 ISE 100 (TL mn) 2010 4,00 ISFIN Net income 63.7 Book value 465 3,00 Mcap @1.39 410 2,00 P/BV 0.91 P/E 6.4 1,00 Outstanding Shares 295 million Mcap @1.44 02/03/11 425 0,00 March-09 March-10 March-11 July-09 July-10 November-09 November-10 September-09 September-10

  27. Slide 27: 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 27

  28. Slide 28: Agenda

    AGENDA  Increasing synergy with İşbank branches. By using the wide branch network of İşbank, reaching uncovered SME’s therefore smaller ticket sizes and higher spreads are targeted.  New regulatory changes expected.(probably after June11 elections). Sale and Lease back, Operating Lease, Lease of c

  29. Slide 29: 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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