Pinar Sut Mamulleri Sanayii A.s. · BIST:PNSUT

Pinar Sut Mamulleri Sanayii A.s — Pınar Süt Mamulleri Sanayii A.Ş. — H1 2014 Earnings Presentation

23 slides from Pinar Sut Mamulleri Sanayii A.s's earnings presentation, 2014

  1. Slide 1: Earnings Presentation, 2014 H1

    PINAR SÜT MAMULLERİ SANAYİİ A.Ş. Earnings Presentation, 2014 H1

  2. Slide 2: Highlights

    Highlights • Innovator and pioneer •Most admired company in Turkey* •Hygienic production in the EU •Closest brand to mothers** norms • More than 200 SKUs •Best fruit juice brand*** •Technological and industrial • R&D expertise •One of the top ten most reputable knowledge brands**** •One of the top t

  3. Slide 3: Market Dynamics

    Market Dynamics Total Number of Animals Raw Milk Base Prices in Turkey (Million Tons) 2012 2013 17,4 18,2 15,1 Total Animals 49,8 Mn 53,0 Mn +6,5% 13,5 +4,7% 12,3 12,2 12,5 Cattle 27,9% 27,2% 10,6 10,7 11,1 12,0 Sheep 55,1% 55,2% 8,4 Goats 16,8% 17,4% CAGR %7,3 Water Buffalo 0,2% 0,2% Total Number o

  4. Slide 4: Market Dynamics - II

    Market Dynamics - II Packaged Milk Market (Value) Pasteurized Milk UHT Milk UHT Milk Market (Volume) 5,2% 5,0% 1,4% 94,8% 0,9% Source: IPSOS, 2014 1Y Source: Nielsen 2013 Total Cheese Market (Value) 92,7% Others ; Spreadable 10% Yellow Cheese; Cheese; Plain Flavoured Light Others 15% 40% White Chees

  5. Slide 5: Market Dynamics - III

    Market Dynamics - III Price of Food Products Raw Milk Base Prices in Turkey (TL/lt) Food Prices Processed Food (% change) Unprocessed Food 2014 2013 2012 1,25 TL 1,10 TL 0,95 TL 0,80 TL 0,65 TL 0,50 TL J A J O Row Milk Base Prices set by National Milk Council Source: CBT  Fluctuant raw milk prices

  6. Slide 6: Market Shares - I

    Market Shares - I 3,0 20,0%Product Share Position 17,6% 17,1% 16,6% 16,9% UHT Light Milk 58% #1 15,0% 2,0 Toplam UHT Milk 30% #1 10,0%Organic Milk * 92% #1 2,8 2,9 1,0 Enriched Milk (Kids) 59% #1 1,4 1,5 5,0% Butter 17% #2 Homogenized Yoghurt 11% #2 0,0 0,0% Spreadable Cheese 36% #1 2012 2013 H1 201

  7. Slide 7: Market Shares - II

    Market Shares - II 64,2% 64,5% 61,1% 58,3% UHT Light Milk (#1) 41,8% Total UHT Milk 39,2% (#1) 37,8% 36,0% 31,8% 30,1% 30,8% Spreadable 30,3% Cheese (#1) 18,4% 17,0% 17,2% 16,8% Butter (#2) 11,0% 10,6% 10,9% 10,1% Homogenized Yoghurt (#2) 2011 2012 2013 2014-1Y Source: Nielsen, Value Share 6

  8. Slide 8: New Products

    New Products Kremilla Custard Chocolate Latte 7

  9. Slide 9: Campaigns - I

    . ~ 4 Campaigns - | PINAR “wa Fruit Juices Tv @ Yasar daha iyi bir yagam icin

  10. Slide 10: Campaigns - II

    Campaigns - II Pınar Cream Cheese and Pınar Labaneh

  11. Slide 11: Campaigns - III

    Campaigns - III Plain Milk Campaigns TV Internet Outdoor

  12. Slide 12: Export

    Export  Pınar realizes 16% of Turkey’s Dairy Products Exports itself Breakdown of Net Sales (2014 H1)  Export income was icreased by %24 in USD in 2014 H1, Direct; 6% Yoy. The share of exports in net sales is 13%. Export; 13%  Exports to 28 different countries which are Middle East, Europe, USA a

  13. Slide 13: Şanlıurfa Investment

    Şanlıurfa Investment  Pınar Süt Şanlıurfa plant, which will be established on a land of 100 thousand m²  Raw milk collected from Şanlıurfa and cities around it  The milk and dairy products will be produced in the factory. The product range will be expanded depending on the needs.  The benefits f

  14. Slide 14: Financial Results

    PINAR SÜT MAMULLERİ SANAYİİ A.Ş. Financial Results

  15. Slide 15: Sales and Profitability

    Sales and Profitability Net Sales (mn TL) Net Profit (Mn TL) CAGR %14 %17,1  In 2014 H1, the net sales grew by %17.1 in both EBITDA* (Mn TL) value and volume terms, compared to 2013 H1. The volume growth was up by %5.  The increase in raw milk prices, which was more than 16%, has a negative impact

  16. Slide 16: Income Statement

    Income Statement (Million TL) 30.06.2014 30.06.2013 Difference % Change Net Sales 459,4 392,4 67,1 17,1 Cost of goods Sold (380,5) (310,7) (69,8) 22,5 Gross Profit 79,0 81,7 (2,7) (3,3) R&D Expenses (3,6) (3,9) 0,2 (6,5) Sales, Distribution and Marketing (32,6) (33,8) 1,2 (3,7) Expenses General Admi

  17. Slide 17: Profit Margins

    Profit Margins Gross Margin EBIT* EBITDA** Net Profit * Ex. Other income and expenditures ** Earnings before Interest, Tax, Depreciation, and Amortization 16

  18. Slide 18: Basic Ratios, Net Financial Debt & Net Working Capital

    Basic Ratios, Net Financial Debt& Net Working Capital  Continuous focus on risk management and productivity  Effective working capital management  Strong balance sheet and liquidity management 17

  19. Slide 19: Overview of 2014 H1

    Overview of 2014 H1  Despite the extraordinary circumstances in 2014 H1, the net sales increased by %17.1, compared to 2013 H1.  The Şanlıurfa investment is still in progress and our goal is to commence production in the last quarter of 2014. Contribution of Investment incentives is observed in th

  20. Slide 20: Strategies and Targets

    Strategies and Targets  Growing above market growth rates in the segments we operate in  Effective price management  Widespread distribution network  Efficient utilization of social media  Developments in “Away From Home” channel  Increasing export sales also in countries falling outside Gulf

  21. Slide 21: Ownership & Participation Structure & Share Performance

    Ownership & Participation Structure & Share Performance Ownership Structure Share Performance 120 20,00 100 15,00 80 Yaşar Holding A.Ş. 61% 60 10,00 Free Float 39% 40 5,00 20 - 0,00 Participations BİST-TÜM'e göre (sol eksen) PNSUT (Sağ eksen) Participation Rate % Yasar Birleşik Pazarlama A.Ş. 31,8 B

  22. Slide 22: Disclaimer and Contact Information

    Disclaimer and Contact Information This presentation does not constitute an offer or invitation to purchase or subscription for any securities and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. This presentation contains forward-look

  23. Slide 23: Thank You

    Thank You

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