Ulusoy Elektrik Imalat Taahhut Ve Ticaret As · BIST:ULUSE

Ulusoy Elektrik Imalat Taahhut Ve Ticaret As — Ulusoy Elektrik — H1 2019 Earnings Presentation

19 slides from Ulusoy Elektrik Imalat Taahhut Ve Ticaret As's earnings presentation, Aug 7, 2019

  1. Slide 1: 6M2019 Financial Results

    6M2019 Financial Results August 7, 2019 © 2019 Eaton. All rights reserved..

  2. Slide 2: Agenda

    Agenda • Highlights • Sales Performance • Financial Results © 2019 Eaton. All rights reserved.. 2

  3. Slide 3: 6M2019 Highlights

    6M2019 Highlights 3 Performance Sustainability 17,3% EBITDA Contraction in parallel with the slowdown 26,9% Gross Margin and uncertainty in the domestic investment environment TL 106 mn of net FX position Diversified and sustainable export (2018 : TL 96 mn) Export revenue; 48% of total revenue * 01.

  4. Slide 4: Agenda

    Agenda • Highlights • Sales Performance • Financial Results © 2019 Eaton. All rights reserved.. 4

  5. Slide 5: Domestic Market Performance

    Domestic Market Performance 5 Domestic Revenue Breakdown Electricity Distribution Companies by Customer Segment Investment Plan (mn TL) Dist. Co. Dist. Co. Direct 28% Direct 34% Sales 33% Sales 41% 9.600 Distributors Distributors 4.700 33% 31% 3.700 3.700 550 6M2018 6M2019 2006-2010 2011-2015 2016 2

  6. Slide 6: Domestic Market Performance

    Domestic Market Performance 6 Domestic Revenue Breakdown by Customer Segment (mn TL) Distribution Companies Direct Sales Distributors 146 136 01 02 116 111 99 90 03 03 50 48 48 39 27 29 6M2018 6M2019 2017 2018 6M2018 6M2019 2017 2018 6M2018 6M2019 2017 2018 © 2019 Eaton. All rights reserved..

  7. Slide 7: Export Market Performance

    Export Market Performance 7 *01.01.2018 – 30.06.2018 average USD = 4,0860 Export Revenue Breakdown **01.01.2019 – 30.06.2019 average USD = 5,6034 by Customer Segment OEM Component Sales OEM Component 18% Sales 26% Direct Sales Dist. Co. 40% 2% 04 01 Direct Sales 60% 03 Distributors Dist. Co. 20% 18%

  8. Slide 8: Export Market Performance

    Export Market Performance 8 Export Revenue Breakdown by Customer Segment (mn TL) 107 Distribution Companies Direct Sales Distributors OEM Component Sales 01 02 53 54 47 03 35 03 33 31 19 23 19 16 0 2 16 14 9 6M2018 6M2019 2017 2018 6M2018 6M2019 2017 2018 6M2018 6M2019 2017 2018 6M2018 6M2019 2017 2

  9. Slide 9: Export Market Performance

    Export Market Performance 9 Diversified & Sustainable Top 10 Export Destinations Export 29% 6M2018 6M2019 01 02 19% 02 11% 10% 9% 7% 6% 6% 6% 6% 5% 5% 4% 4% 4% 4% 3% 1% 0% 0% Algeria Indonesia Tunisia Sudan Jordan Iraq Spain Latvia Ukrania Palestine © 2019 Eaton. All rights reserved..

  10. Slide 10: Local & Int'l Competition

    Local & Int’l Competition 10 2018 Local Players mn TL Rank ASTOR ELİMSAN Net Sales 563 364 2017 Revenue TL 468 mn 2017 Revenue TL 239 mn Net Profit 174 92 Family-run business Owned by Saudi Cable Equity 315 208 HQ in Ankara HQ in Kocaeli Product : Transformer, Siwtchgear Product: Switchgear Global P

  11. Slide 11: Agenda

    Agenda • Highlights • Sales Performance • Financial Results © 2019 Eaton. All rights reserved.. 11

  12. Slide 12: 6M2019 Financial Results

    6M2019 Financial Results 12 TL 183,0 mn TL 87,4 mn (*USD 15,6 mn) Total Sales Revenue Export Sales Revenue TL 46,3 mn Net Profit TL 95,6 mn TL 31,9 mn Domestic Sales Revenue EBITDA * 01.01.2019 – 30.06.2019 average USD = 5,6034 © 2019 Eaton. All rights reserved..

  13. Slide 13: Revenue (mn TL)

    Revenue (mn TL) 13 Domestic Total 563,9 Export Total 434,7 USD 238,4 USD 60,7 49,3 mn 16,6 mn Total 236,3 Total 183,0 USD 374,1 22,1 mn 90,5 325,6 USD 87,4 15,6mn 146,8 95,6 2017 2018 6M2018 6M2019 01.01.2017 – 31.12.2017 average USD = 3,6477 01.01.2018 – 30.06.2018 average USD = 4,0860 01.01.2018 –

  14. Slide 14: Quarterly Revenues Breakdown (mn TL)

    Quarterly Revenues Breakdown (mn TL) 14 2014 2015 2016 2017 2018 2019 169,6 158,1 147,9 139,8 121,5 96,5 98,8 98,5 91,8 84,5 66,5 55,1 54,1 50,2 47,6 46,6 43,6 42,4 35,1 32,1 30,7 24,2 1Q 2Q 3Q 4Q - Since 2012, 1Q revenues constituted avg. 22% of total sales during the year. - Since 2012, 4Q revenue

  15. Slide 15: Total Revenue Breakdown by Product

    15 Total Revenue Breakdown by Product 2018 2017 ∆ 6M2018 6M2019 ∆ mn TL mn TL mn TL mn TL mn TL mn TL Distribution Transformers 107,8 47,7 126% 37,8 35,1 -7% Metal Enclosed Component 35,8 5,9 502% 11,4 19,6 73% (Circuit Breaker & LBS) Uring 83,6 42,4 97% 29,8 25,9 -13% Metal Enclosed 190,6 216,6 -12

  16. Slide 16: Income Statement

    Income Statement 16 mn TL 2018 2017 ∆ 6M2018 6M2019 ∆ - Domestic Sales 325,6 374,1 -13% 145,8 95,6 -35% - Export Sales 238,4 60,7 293% 90,5 87,4 -3% Total Sales Revenue 563,9 434,7 30% 236,3 183,0 -23% Gross Profit 190,8 128,6 48% 67,8 49,2 -27% Net Operating Income 163,4 106,1 54% 54,0 29,1 -46% Pr

  17. Slide 17: Profitability

    Profitability 17 2018 2017 ∆ 6M2018 6M2 019 ∆ Gross Profit Margin 33,7% 29,5% 4,3 28,6% 26,9% -1,7 Operating Profit Margin 28,9% 24,3% 4,6 22,7% 15,9% -6,8 Net Profit Margin 22,2% 19,9% 2,3 18,0% 25,3% 7,3 EBITDA Margin 30,0% 25,5% 4,5 24,0% 17,4% -6,6 33,7% 29,5% 28,6% 28,9% 30,0% 26,9% 25,5% 24,0%

  18. Slide 18: Financial Ratios

    Financial Ratios 18 2018 6M2019 ∆ Current Ratio 4,4 4,6 5% Quick Ratio 3,4 3,5 5% Net Financial Position (mn TL) -82,6 -163,4 98% Net Debt/Equity -0,3 -0,5 71% Current Assets / Total Assets 0,8 0,9 8% Current Liabilities / Total Liabilities 1,0 1,0 0% Total Liabilities / Total Assets 0,2 0,2 3% Work

  19. Slide 19: For further information

    For further information; ir@ulusoyelektrik.com.tr +90 312 267 0712

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