Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi · BIST:DOAS
Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi — Doğuş Otomotiv Servis ve Ticaret A.Ş. — Q4 2020 Earnings Presentation
27 slides from Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi's earnings presentation, Feb 24, 2021
Slide 1: 4Q 2020 Analyst Briefing Presentation
4Q 2020 ANALYST BRIEFING PRESENTATION Kerem Talih 24 February 2021 1 TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and thi
Slide 2: Jan-Dec 2020 Dogus Otomotiv Main Segment Sales
JAN - DEC 2020 DOGUS OTOMOTIV MAIN SEGMENT SALES Retail RETAIL MARKET DOAS PERFORMANCE Source: Automotive Distributors Association, TAID - Heavy Commercial Vehicles Association DOAS TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarakperformance paylaşılmalı
Slide 3: Competition (Retail)
COMPETITION (Retail) VW PC ranked 3rd in the RETAIL MARKET 2018 2019 YTD December 2020 19 Year - End/ December 20 December 19/ December 20 cumulative passenger vehicle ∆ ∆ market with 8,6% market PASSENGER CAR % share. RENAULT GROUP 26,3 23,3 22,5 -0,8 -0,8 DOGUS OTOMOTİV 19,6 18,2 17,6 -0,6 -0,6 TO
Slide 4: Jan-Dec 2020 Passenger Vehicle Market (%)
JAN - DEC 2020 PASSENGER VEHICLE MARKET (%) Retail - PC market increased by 57,5% yoy. - DOAS’ market share in the passenger vehicle market was realized as 17,6%. - Renault leads with a 22,5% market share in the PC market. - Segment ranking (Top 10): VW PC 12M20 Golf A/HB 7,3% 6 Passat B/NB 50,0% 1
Slide 5: Jan-Dec 2020 Light Commercial Vehicle Market (%)
JAN - DEC 2020 LIGHT COMMERCIAL VEHICLE MARKET (%) Retail - Light Commerical Vehicle market increased by 77,2% yoy. - DOAS has a 7,4% market share at 4th place. - Leaders in the LCV market are Ford Otosan with 39,9% market share and Tofaş with 27,6% market share. - Segment ranking: VW LCV 12M20 Cadd
Slide 6: Jan-Dec 2020 Doğuş Otomotiv Brand Sales Performance
JAN - DEC 2020 DOĞUŞ OTOMOTIV BRAND SALES PERFORMANCE WHOLESALE UNITS 12M19 12M20 Δ VW PC 37.029 54.886 48% VW LCV 8.253 12.006 45% AUDI 9.576 19.537 104% SKODA 14.600 25.965 78% SEAT 5.765 11.866 106% SCANIA 465 1.157 149% PORSCHE 298 648 117% BENTLEY 9 11 22% LAMBORGHINI 9 19 111% DOAS TOTAL 76.00
Slide 7: January 2021 Dogus Otomotiv Main Segment Sales
JANUARY 2021 DOGUS OTOMOTIV MAIN SEGMENT SALES Retail RETAIL MARKET DOAS PERFORMANCE Source: Automotive Distributors Association, TAID - Heavy Commercial Vehicles Association DOAS TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak performance paylaşılmalıd
Slide 8: January 2021 Doğuş Otomotiv Brand Sales Performance
JANUARY 2021 DOĞUŞ OTOMOTIV BRAND SALES PERFORMANCE WHOLESALE UNITS 01M20 01M21 Δ VW PC 3.354 5.213 55% VW LCV 436 1.006 131% AUDI 490 520 6% SKODA 1.203 1.980 65% SEAT 731 683 -7% SCANIA 21 82 290% PORSCHE 22 41 86% BENTLEY 0 0 0% LAMBORGHINI 0 1 100% DOAS TOTAL 6.257 9.526 52% Source: TR : Kurumsa
Slide 9: 9 and
9 and TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams third parties.
Slide 10: Financial Performance
FINANCIAL PERFORMANCE Bentley – New Flying Spur TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third parties.
Slide 11: Financial Performance (mn TL)
FINANCIAL PERFORMANCE (mn TL) Net Sales EBITDA Net Profit 1.042 134 77 2018 2019 2020 CapEx Total Assets Working Capital* * Comprised of cash and cash equivalents, TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corpora
Slide 12: Margins %
MARGINS % Gross Profit Margin OpEx/Sales EBITDA Margin %8 Kons. Maks 11 -12 % EBIT Margin Net Profit Margin Wholesale Market Sales* * Includes PV (excl Skoda), LCV and HCV sales. 12 TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN
Slide 13: Income Statement Q-on-Q and Y-on-Y Comparisons
INCOME STATEMENT Q-on-Q and Y-on-Y Comparisons TL’000 4Q 2020 3Q 2020 Δ4Q/3Q 4Q 2020 4Q 2019 Δ 2020/ 2019 Wholesale Sales Volume (excl. Skoda, incl. 30.951 34.691 -11% 30.951 23.476 32% Scania) Revenue 6.830.410 6.343.089 8% 6.830.410 3.721.879 84% Direct cost of revenue -5.907.143 -5.541.228 7% -5.
Slide 14: Income Statement
INCOME STATEMENT TL’000 31.12.2020 31.12.2019 Δ 2020/2019 Revenue 18.900.148 9.844.133 92% Direct cost of revenue -16.425.050 -8.574.429 92% Gross profit 2.475.098 1.269.704 95% Total Operational Expenses -1.030.631 -783.601 32% EBIT 1.444.467 486.103 197% Income from Investing Activities, net 14.00
Slide 15: Income from Associates
INCOME FROM ASSOCIATES TL’000 31.12.2020 31.12.2019 Δ 2020/2019 Associates vdf Group 51.146 639 7904% vdf 24.279 -25.124 197% vdf Servis 26.867 25.763 4% Doğuş Sigorta 1.731 916 89% Yüce Auto (Škoda) 68.686 11.627 491% TÜVTÜRK N&S (Consolidated) 132.786 122.948 8% Doğuş Teknoloji -6.519 6.440 -201%
Slide 16: Balance Sheet
BALANCE SHEET Inventories: Number of vehicles increased TL’000 31.12.2020 31.12.2019 Δ from 5.878 units on 31.12.2019 to 13.129 units ASSETS 7.117.134 4.664.944 53% on 31.12.2020. Financial Liabilities: Cash and cash equivalents 655.599 648.342 1% Use of financing was realized in line with expectati
Slide 17: Financing Costs
FINANCING COSTS Million TL 31.12.2020 31.12.2019 Δ 2020/2019 Financing Cost, net 418.637 614.824 -32% Finance Expenses 468.388 688.209 -32% Interest Expense on Borrowings 351.593 517.667 -32% Commission Expenses on Letters of Guarantee 60.410 52.270 16% Foreign Exchange Losses on Borrowings, net 13.
Slide 18: Financial Performance
FINANCIAL PERFORMANCE Million TL 31.12.2020 31.12.2019 Δ Working capital 4.455 2.330 91% Net Cash Position* -1.722 -1.691 -2% Receivable Turnover (day) 20 28 -27% Inventory Turnover (day) 61 40 53% Payable Turnover (day) 41 30 36% * Net Cash Position updated in line with IFRS 16, bank loans and empl
Slide 19: Material Event Disclosures in 4Q 2020
MATERIAL EVENT DISCLOSURES IN 4Q 2020 02.12.20 – Changes in Senior Management Mr. Ilhami EKSİN, the General Manager for the Scania, Thermo King and Scania Engines brand will exit our company effective January 1, 2021 due to his appointment to another position within Doğuş Group. The company has reso
Slide 20: Material Event Disclosures in 4Q 2020 & Subsequent Events
MATERIAL EVENT DISCLOSURES IN 4Q 2020 & SUBSEQUENT EVENTS 28.12.20 – Acquisition of VDF Servis ve Ticaret AŞ shares that Doğuş Oto Pazarlama ve Ticaret AŞ held As part of the restructuring strategy to improve the managerial effectiveness of VDF Servis ve Ticaret AŞ, a joint venture of our company wi
Slide 21: Subsequent Material Event Disclosures
SUBSEQUENT MATERIAL EVENT DISCLOSURES 12.02.2021 – Disclosure regarding the establishment of a joint working group by n11.com and DOAŞ to explore strategic partnership opportunities in the secondhand automotive market n11.com and Doğuş Otomotiv have agreed to establish a joint working group to explo
Slide 22: Sustainability
SUSTAINABILITY Since 2020, CMB Since 2009 GRI Global Since 2017, UN Sustainability Since 2010, Reporting Framework Sustainable Development Principles Compliance UNGC Signatory Goals Index Framework 47 Yes, 7 Partly, 4 No 2021 ISO 14001:2015 ISO 14064 ISO 50001 ISO 14.001 certificate Environmental Gr
Slide 23: TÜVTÜRK
TÜVTÜRK Monopoly business LT relationships: Steady stream of Difficult to replicate Business Associates with highly resilient cash flows infrastructure Network Franchises revenue and Government Tender Offer: 2007 Δ in Revenue share: 2018-2019 Revenue share increase: from 7% - to – 20% Project End: 2
Slide 24: Garaj11
Garaj11 2015-2019 Strong experience in 2.2 mn customers 4 mn listings for e-commerce market e-commerce auto spare parts CAGR +35% Established in : 1999 Largest corporate retailer of used car DOD Prime DOD Garanti DOD Finans DOD Mobil Joint working group The Vision Garaj11 DOAS’s broad experience Str
Slide 25: 2021 Expectations
2021 EXPECTATIONS Mobility Digitalization Service Areas Operational Efficiency and Optimum Profitability Cautious Expenditure Management OEM Strategy: Maintain represented brands’ competitive position. Total Automotive Market Investment Expenditure (PC+LCV+HCV) TRY 360 mn 700,000 units ● Expenditure
Slide 26: Thank You – Q & A
THANK YOU – Q & A Audi - RS6 TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third parties.
Slide 27: TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak
TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third parties.
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