Slide 1: Koç Holding 1H17 Earnings Presentation
Koç Holding 1H17 Earnings Presentation 18 August 2017
Slide 2: Koç Group Sectoral Developments
1H17 Koç Group Sectoral Developments www.koc.com.tr 2
Slide 3: Energy
Energy Sales Volume, Domestic Market Tüpraş +5% Capacity Utilisation White Product Yield Refining Margins ($/bbl) Tüpraş (net) Med Complex 8.2 111.5% 100.9% 7.1% 77.6% 75.6% 5.4 5.3% -8% -2% +2% 4.0 3.5 104.4% 95.6% (mn tons) Diesel Jet Fuel Gasoline LPG 5M16 8.5 1.7 0.8 1.6 5M17 8.9 1.6 0.9 1.6 1H1
Slide 4: Automotive
Automotive Sales Units, Domestic Market Export Units, Turkey Koç Market 13% 15% 53% 53% 26% 28% 23% 24% Share -9% +29% -10% -5% -22% Passenger Light Heavy (‘000) 1H16 1H17 (‘000) TOTAL Cars Commercial Commercial Export Units 556 714 1H16 338 100 12 451 1H17 306 95 9 411 Source: Automotive Manufactur
Slide 5: Consumer Durables
Consumer Durables Sales Units, Domestic Market Export Units, Turkey +27% +2% +35% +20% +25% +27% Refrigerator Washer & (‘000) Dishwasher Oven TOTAL & Freezer Dryer (‘000) 1H16 1H17 1H16 1,224 1,048 765 439 3,476 Export Units 9,186 9,369 1H17 1,659 1,254 958 560 4,431 Source: White Goods Manufacturin
Slide 6: Finance – Yapı Kredi Bank
Finance – Yapı Kredi Bank Profitability Operational Performance Net Income (TL mn) ROATE Cost/Income1 CoR Revenues +14% Costs +8% +41%1 +257 bps (vs 11% CPI) 1,893 2 1.36% 14.7% 43% 1.10% 1,342 1 41% 12.1% 956 9.7% 1H15 1H16 1H17 1H15 1H16 1H17 1H16 1H17 1H16 1H17 Market Shares Fundamentals Loan Mar
Slide 7: 1H17 Financial Results
1H17 Financial Results www.koc.com.tr 7
Slide 8: Group's Overall Financial Performance
Group’s Overall Financial Performance Consumer TL mn Energy Automotive Finance Other Total Durables Combined Revenues1 44,766 25,937 10,900 14,096 5,057 100,757 y/y 54% 30% 29% 18% 10% 36% Combined Operating Profit2 3,266 1,745 749 2,249 37 8,046 y/y 190% 27% 10% 4% nm 53% Combined Net Income 2,610
Slide 9: Combined Revenues
Combined Revenues Combined Revenues – TL mn Segmental Breakdown +36% 100,757 Automotive 26% 73,949 Energy Consumer 44% Durables 11% 1H16 1H17 Finance Other 14% 5% Segment Contribution – TL mn +54% 44,766 +30% 28,996 25,937 19,920 +29% +18% 14,096 +10% 10,900 11,993 8,425 4,616 5,057 Energy Automotiv
Slide 10: Combined Operating Profit
Combined Operating Profit Combined Operating Profit – TL mn Segmental Breakdown +53% Energy 8,046 41% +61% 5,243 Automotive 5,012 2 22% Other 0.5% Consumer Finance Durables 1H16 1H17 28% 9% Segment Contribution – TL mn +190% +4% 3,266 +17% +27% 2,157 2,249 1,745 1,370 +10% 1,125 1,9251 681 749 37 -8
Slide 11: Combined Net Income
Combined Net Income Combined Net Income – TL mn Segmental Breakdown +62% 6,487 Energy 40% +70% 6,4621 4,011 Automotive 3,8062 22% Other 2% Consumer 1H16 1H17 Finance Durables 28% 8% Segment Contribution – TL mn +357% +4% 2,610 +15% +17% 1,772 1,846 1,424 1,215 +24% 571 1,5993 396 490 57 118 251 921
Slide 12: Consolidated Net Income
Consolidated Net Income Consolidated Net Income – TL mn Segmental Breakdown +77% Energy 2,542 41% +89% 1,433 2,5161 Automotive 22% 1,3322 Other 3% Consumer 1H16 1H17 Finance Durables 26% 8% Segment Contribution – TL mn +415% +13% 1,030 +28% +18% 664 571 589 486 +27% 5203 200 161 204 72 471 -3 -341 E
Slide 13: Combined Exports & International Sales
Combined Exports & International Sales Combined Exports – US$ mn Combined International Sales – US$ mn +19% +18% 7,815 8,919 6,588 7,576 1H16 1H17 1H16 1H17 www.koc.com.tr 13
Slide 14: Combined Investments
Combined Investments Combined Investments – TL mn Segmental Breakdown Automotive 3,114 59% 2,933 Consumer Energy Durables 22% Other 12% Finance 2% 1H16 1H17 5% www.koc.com.tr 14
Slide 15: Net Cash Position
Net Cash Position Koç Holding Stand-Alone 30 June 2017 Net Cash Position Total Debt: ~US$ 1.5bn1 Total Cash: ~US$ 2.1bn2 Net Cash: US$ 586mn Consolidated Net Debt (excl. Finance) 1Q17 1H17 ~US$ -2.8bn ~US$ -3.3bn (1) The total debt of US$ 1.5bn consists of two Eurobond issuances by Koç Holding: • Eu
Slide 16: FX Position
FX Position Koç Holding Stand-Alone FX Position 1Q17 1H17 US$ +81 mn US$ +74mn Koç Holding Consolidated Net FX Position After Natural Hedge Net FX Position1 Net FX Position After Natural Hedge2 Weighted by Effective Ownership 1Q17 1H17 1Q17 1H17 1Q17 1H17 US$ -1.2 bn US$ -1.1 bn US$ -30 mn US$ +79 m
Slide 17: Consolidated Main Financial Indicators
Consolidated Main Financial Indicators 1H17 TL mn 1H16 1H17 Y/Y € mn $ mn Revenues 31,122 45,473 46% 11,568 12,504 Gross Profit 5,147 7,849 52% 1,997 2,158 Operating Profit 2,755 5,316 93% 1,352 1,462 Profit Before Tax 2,170 4,413 103% 1,123 1,214 Taxes (net) -120 -145 21% -37 -40 Net Income Before
Slide 18: Q&A
Q&A www.koc.com.tr 18
Slide 19: Disclaimer
Disclaimer This presentation does contain forward-looking statements that reflect the Company management’s current views with respect to certain future events based on the base-case assumptions. Although it is believed that the expectations reflected in these statements are reasonable, they may be a
Slide 20: ANNEX
ANNEX www.koc.com.tr | 2!
Slide 21: Koç Holding Credit Ratings: Investment Grade Maintained
Koç Holding Credit Ratings: Investment Grade Maintained One notch above Turkey’s Ratings Outlook government bond rating Moody’s Baa3 Negative Two notches above Turkey’s foreign S&P BBB- Negative currency rating Moody’s: Koç Holding's Baa3 issuer rating reflects the company's strong financial profile
Slide 22: Shareholding Structures
Shareholding Structures (30 June 2017) Koç Holding Koç Family: 64.29% Free Float: 26.46% Vehbi Koç Foundation: 7.26% Koç Pension Fund: 1.99% Consumer Energy Automotive Finance Other Durables Tüpraş Ford Otosan Arçelik Tat Gıda SPV share: 51.00% KH share: 38.46% Koç Financial Services KH share: 40.51
Slide 23: For Further Questions, Please Contact
For Further Questions, Please Contact : investorrelations@koc.com.tr www.koc.com.tr IR Application Gülsevin Tunçay, Coordinator Investor Relations gulsevint@koc.com.tr +90 216 531 0428 Gizem Bodur, Manager Investor Relations gizemb@koc.com.tr +90 216 531 0533 Neslihan Aycıl, Manager Investor Relatio