Dogan Sirketler Grubu Holding A.s. · BIST:DOHOL
Dogan Sirketler Grubu Holding A.s — Q3 2022 Earnings Presentation
28 slides from Dogan Sirketler Grubu Holding A.s's earnings presentation, Nov 9, 2022
Slide 1: Doğan Holding 3Q22 Earnings Presentation
Doğan Holding 3Q22 Earnings Presentation November 09, 2022
Slide 2: 3Q22 Highlights
3Q22 Highlights Strong Net Income Growth • Improving performance in electricity generation and automotive segments • Positive contribution of Milpa land sale High Net Cash Position and Solid Balance Sheet • USD447 million solo net cash • Minimal FX risk at group companies Continuing Strategic Action
Slide 3: 3Q22 Highlights
3Q22 Highlights Revenue EBITDA Net Income (TL mn) 13,074 1,639 180% 1,746% 982 165% 4,665 370 89 3Q21 3Q22 3Q21 3Q22 3Q21 3Q22 • Positive contribution from high oil and • Improving margins of electricity generation • Higher EBITDA from all segments, except electricity prices business petroleum produ
Slide 4: 3Q22 Revenue Overview
3Q22 Revenue Overview Revenue Bridge (TL mn) Highlights Revenue 71% 2% 13% 8% 3% Petroleum Products Retailing 2% 1% Share • Rising oil prices • Positive impact of TL depreciation Electricity Generation • High CUR • High electricity prices Industry-Trade • Robust demand in flexible packaging • Inorga
Slide 5: 3Q22 EBITDA Overview
3Q22 EBITDA Overview EBITDA Bridge (TL mn) Highlights EBITDA 2% 27% 38% 14% 7% Petroleum Products Retailing 8% 6% Share • Lower EBITDA contribution due to inventory losses Electricity Generation • Higher margins on strong revenue generation Industry-Trade • Inorganic growth impact of Karel acquisiti
Slide 6: Share Buyback / Dividend Inflow and Payments
Share Buyback /Dividend Inflow and Payments Share Buyback Program Dividend Inflow Dividend Payments • Share Buyback Program was updated at • Increasing dividend inflow from group • Dividend Policy: targets to distribute >5% the General Assembly. companies. of paid-in capital. • New program size: TL3
Slide 7: Solo Net Cash Position Change
Solo Net Cash Position Change Doğan Holding Solo Net Cash (Dogan Holding + Öncü VCIT + DHI) (USD mn) • Karel acquisition had a USD55 million impact on solo net cash. • During the period, capital increases were completed for Hepsiemlak and Hepiyi Sigorta. • Due to changes in macro conditions and decl
Slide 8: Petroleum Products Retailing Segment
Petroleum Products Retailing Segment Petroleum Products Retailing Summary Financials 3Q22 Overview TL million 3Q21 3Q22 Δ 9M21 9M22 Δ • Higher oil prices (y/y) supported top-line growth. Revenue 3,233 8,987 178% 7,498 21,416 186% Gross Profit 156 132 -15% 366 1,064 191% • Declining prices in 3Q led
Slide 9: Electricity Generation Segment
Electricity Generation Segment Electricity Generation Segment Summary Financials 3Q22 Overview TL million 3Q21 3Q22 Δ 9M21 9M22 Δ • Electricity consumption remained flat y/y in 8M22. Revenue 151 345 129% 330 863 161% Gross Profit 107 274 156% 223 702 215% • High coal and natural gas prices resulted
Slide 10: Electricity Generation Segment – Galata Wind
Electricity Generation Segment – Galata Wind Galata Wind Summary Financials 3Q22 Overview TL million 3Q21 3Q22 Δ 9M21 9M22 Δ • Revenue grew by 128% on higher prices and production. Revenue 151 345 128% 331 863 160% Gross Profit 109 274 152% 224 702 213% • Leverage declined to 0.03x thanks to robust
Slide 11: Electricity Generation Segment – Boyabat & Aslancık HPP
Electricity Generation Segment – Boyabat & Aslancık HPP Boyabat & Aslancık HPP Summary Financials* 3Q22 Overview Boyabat HPP Summary Financials • In 9M22, Boyabat HPP generated 348 GWh electricity, TL million 3Q21 3Q22 Δ 9M21 9M22 Δ indicating a decline of 32% Revenue 137 522 281% 324 962 197% • In
Slide 12: Industry & Trade Segment
Industry & Trade Segment Industry & Trade Segment Summary Financials 3Q22 Overview TL million 3Q21 3Q22 Δ 9M21 9M22 Δ • Strong demand for flexible packaging continued. Revenue 694 2,426 250% 1,868 5,102 173% Gross Profit 131 483 268% 338 1,063 215% • Weakness in Europe, declining Euro and energy cos
Slide 13: Industry & Trade Segment – Çelik Halat
Industry & Trade Segment – Çelik Halat Çelik Halat Summary Financials 3Q22 Overview TL million 3Q21 3Q22 Δ 9M21 9M22 Δ • Rise in energy costs and inventory loss had a negative impact on Revenue 161 370 129% 454 1,076 137% Gross Profit 23 20 -13% 67 154 128% operational profitability. EBITDA 7 -11 a.
Slide 14: Industry & Trade Segment – Ditaş
Industry & Trade Segment – Ditaş Ditaş Finansallar 3Q22 Overview TL million 3Q21 3Q22 Δ 9M21 9M22 Δ • Chip shortage and weak automotive market in Europe curbed demand. Revenue 65 183 182% 175 524 199% Gross Profit 19 19 0% 53 87 63% • Increasing raw material, energy and logistic costs negatively imp
Slide 15: Industry & Trade Segment – Sesa Ambalaj
Industry & Trade Segment – Sesa Ambalaj Sesa Ambalaj Summary Financials 3Q22 Overview TL million 3Q21 3Q22 Δ 9M21 9M22 Δ • Sustained strong demand supported revenue generation. Revenue 182 460 153% 506 1,149 127% Gross Profit 37 120 227% 134 328 145% • New machinery investments increased capacity an
Slide 16: Industry & Trade Segment – Karel Elektronik
Industry & Trade Segment – Karel Elektronik Karel Elektronik Summary Financials 3Q22 Overview TL million 3Q21 3Q22 Δ 9M21 9M22 Δ • Revenue grew by 133% with Daiichi acquisition y/y. Revenue 391 913 133% 1,064 2,074 95% Gross Profit 76 225 196% 209 483 132% • Price adjustments and positive impact of
Slide 17: Automotive Segment – Dogan Trend Otomotiv
Automotive Segment – Dogan Trend Otomotiv Automotive Segment Summary Financials 3Q22 Overview TL million 3Q21 3Q22 Δ 9M21 9M22 Δ • Tighter financing led to a slow-down in first and second hand Revenue 320 682 113% 731 1,969 169% Gross Profit 46 190 309% 106 516 387% sales. EBITDA 21 150 620% 51 394
Slide 18: Finance & Investment Segment
Finance & Investment Segment Finance & Investment Segment Summary Financials 3Q22 Overview TL million 3Q21 3Q22 Δ 9M21 9M22 Δ • Doğan Investment Bank (DIB) reached an asset size of TL1 Revenue 54 205 280% 177 477 170% billion. Gross Profit 25 88 252% 95 219 130% EBITDA -12 4 n.m. -11 -11 n.m. • DIB
Slide 19: Internet & Entertainment Segment
Internet & Entertainment Segment Internet & Entertainment Segment Summary Financials 3Q22 Overview TL million 3Q21 3Q22 Δ 9M21 9M22 Δ • Revenues grew by 58% to TL751 million in 9M22. Revenue 163 288 77% 476 751 58% Gross Profit 78 144 86% 215 357 66% • The largest revenue contributor was Kanal D Rom
Slide 20: Real Estate Investments Segment
Real Estate Investments Segment Real Estate Investments Segment Summary Financials 3Q22 Overview TL million 3Q21 3Q22 Δ 9M21 9M22 Δ • Higher occupancy rates and rent income led to 163% revenue Revenue 51 141 177% 102 268 163% Gross Profit 23 60 166% 47 94 100% growth to TL268 million. EBITDA 11 61 4
Slide 21: Appendix
Apendix
Slide 22: Appendix – Financial Results
Apendix – Financial Results TL million 3Q21 3Q22 Δ 9M21 9M22 Δ TL million 2021 9M22 Δ Sales 4,665 13,074 180% 11,182 30,845 176% Current Assets 15,514 28,605 84% Cost of Goods Sold -4,114 -11,745 185% -9,838 -26,918 174% Non-Current Assets 6,781 10,119 49% Gross Profit 551 1,329 141% 1,344 3,927 192
Slide 23: Appendix – Revenue Breakdown
Apendix – Revenue Breakdown TL million 3Q21 3Q22 Δ 9M21 9M22 Δ Petroleum Products Retail 3,233 8,987 178% 7,498 21,416 186% Fuel sales 2,645 7,694 191% 6,267 18,210 191% LPG sales 546 1,200 120% 1,122 3,008 168% Other 41 92 124% 109 198 82% Electricity Generation 151 345 129% 331 863 161% Electricit
Slide 24: Appendix – Financial Results by Segments
Apendix – Financial Results by Segments TL million 3Q21 3Q22 Δ 9M21 9M22 Δ TL million 3Ç21 0 3Ç22 0 Δ yoy 0 9A21 0 9A22 0 Δ yoy 0 Revenue 4,665 13,074 180% 11,182 30,845 176% EBIT 8,785 25,384 189% 20,861 59,217 184% Petroleum Products Retail 3,241 9,013 178% 7,511 21,457 186% Petroleum Products Ret
Slide 25: Appendix – Net Cash / (Debt) Breakdown
Apendix – Net Cash / (Debt) Breakdown TL million 2021 9M22 Δ Petroleum Products Retailing -625 -342 -45% Electricity Generation -488 17 -103% Industry & Trade -1,152 -4,052 252% CELHA -135 -338 151% KAREL 0 -1,850 n.m. DITAS -79 -181 128% Doğan Dış Ticaret -432 -844 96% Sesa Yatırım -499 -786 58% Ot
Slide 26: Appendix – Segment Structure & Major Group Companies
Apendix – Segment Structure & Major Group Companies Petroleum Products Automotive Trade & Internet & Real Estate Electricity Generation Industry & Trade Financing & Investing Retailing Marketing Entertainment Investments Revenue 8,987 345 2,426 682 205 288 141 Revenue Shr. 69% 3% 19% 5% 2% 2% 1% EBI
Slide 27: Investor Relations Contact
Investor Relations Contact Bora Tezgüler Investor Relations Director borat@doganholding.com.tr Kerimcan Uzun Investor Relations Manager kerimu@doganholding.com.tr www.doganholding.com.tr ir@doganholding.com.tr +90 216 556 90 00 26 Doğan Holding 3Q22 Earnings Presentation
Slide 28: Disclaimer
Disclaimer Doğan Şirketler Grubu Holding A.Ş. (“Doğan Holding”) has prepared this book (the “Book”) for the sole purpose of providing information relating to DoğanHolding (the “Information”). The contents of this Book is based on public information and on data provided by Doğan Holding management. N
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