Bim Birlesik Magazalar A.s. · BIST:BIMAS

Bim Birlesik Magazalar A.s — Q3 2018 Earnings Presentation

16 slides from Bim Birlesik Magazalar A.s's earnings presentation, Sep 30, 2018

  1. Slide 1: Results Presentation

    RESULTS PRESENTATION For the 3 months to 30 September 2018

  2. Slide 2: Notice

    NOTICE The information contained in this document has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. Neither t

  3. Slide 3: Headlines for Q3 2018

    HEADLINES FOR Q3 2018 8,5 TL billion 562 TL million 200 TL million CAPEX EBITDA (63,8% YoY) Sales (+35% YoY) 6,6% EBITDA Margin at 2,4% of sales Strong EBITDA and Continued Net sales picking up profit margins Expansion Stores: FILE 364 TL million 6.556 in Turkey (BIM) EBITDA POSITIVE (60% YoY) Net I

  4. Slide 4: Net Sales and Gross Profit

    NET SALES AND GROSS PROFIT Net Sales, Quarterly (TL million) Net Sales, 9 Months (TL million) 3Q18 8.460 2Q18 7.799 9M18 23.229 1Q18 6.970 4Q17 6.597 9M17 18.182 3Q17 6.263 Gross Profit, Quarterly (TL million) Gross Profit, 9 Months (TL million) 3Q18 1.584 2Q18 1.376 9M18 4.178 1Q18 1.218 4Q17 1.100

  5. Slide 5: EBITDA and EBIT

    EBITDA AND EBIT EBITDA and EBIT Quarterly (TL million) EBITDA and EBIT 9 Months (TL million) 3Q18 562 472 1.368 442 9M18 2Q18 358 1.116 1Q18 364 286 4Q17 324 972 258 9M17 781 3Q17 343 276 EBITDA EBIT EBITDA EBIT EBITDA Margin EBITDA Margin 3Q17 4Q17 1Q18 2Q18 3Q18 9M17 9M18 5,5% 4,9% 5,2% 5,7% 6,6%

  6. Slide 6: Net Income

    NET INCOME Net Income, Quarterly (TL million) Net Income, 9-months (TL million) 3Q18 363 9M18 891 2Q18 293 1Q18 234 4Q17 222 9M17 641 3Q17 227 Net Income Margin Net Income Margin 3Q17 4Q17 1Q18 2Q18 3Q18 9M17 9M18 3,6% 3,4% 3,4% 3,8% 4,3% 3,5% 3,8% Net Income Growth Net Income (3Q17/3Q18) Growth (9M

  7. Slide 7: Like for Like Sales Increase

    LIKE FOR LIKE SALES INCREASE BIM TURKEY Quarterly 9-Months 3Q 2017 3Q 2018 CHANGE 9M 2017 9M 2018 CHANGE Like-For-Like Like-For-Like Sales (per 11.301 13.940 23,3% Sales (per 11.185 13.129 17,4% store/per day -TL) store/per day -TL) Like-For-Like Like-For-Like 16,51 19,93 20,7% 16,29 18,84 15,6% Bas

  8. Slide 8: Capex

    CAPEX Quarterly Capex 9 Months Capex 2,5% 2,8% 3,2% 2,4% 2,4% 2,8% 2,4% 640 248 449 192 200 150 160 3Q17 4Q17 1Q18 2Q18 3Q18 9M17 9M18 CAPEX- ml TL % of Net Sales CAPEX- ml TL % of Net Sales 8

  9. Slide 9: Strong Store Growth Continues

    STRONG STORE GROWTH CONTINUES Number of Stores Store Growth Q318 6.611 712 7.323 * (3Q17/3Q18) 10% Q218 6.516 695 7.211 * New Openings in 3Q18 Q118 6.981 * 6.305 676 112 stores Q417 6.118 647 6.765 * New Openings in 9M18 558 stores Q317 6.039 636 6.675* New Openings Turkey (Inc. FILE) Foreign annual

  10. Slide 10: Foreign Operations & FİLE Highlights

    FOREIGN OPERATIONS & FİLE HIGHLIGHTS MOROCCO EGYPT • 12 new stores opened in Q3 • 5 new stores opened in Q3 • In total we have 430 stores in Morocco • In total we have 282 stores as of Q3 18 as of Q3 18 • EBITDA POSITIVE in 2018 FİLE • 4 new stores opened this quarter • By the end of Q3 we have reac

  11. Slide 11: 2018 Targets

    2018 TARGETS 2018 TARGETS SALES GROWTH (%) (REVISED) ~30% (+- 200 bps) (Old 20%+) EBITDA MARGIN (%) (REVISED) 5,5+ % (Old 4,5-5,5%) CAPEX mil TL ~ 750 CONSOLIDATED NEW STORE OPENINGS ~ 730 TURKEY ~600 MOROCCO ~60 EGYPT ~40 FİLE ~30 11

  12. Slide 12: Birleşik Mağazalar A.Ş.

    BIRLESIK MAGAZALARAS.

  13. Slide 13: Appendix: IFRS Financials

    APPENDIX IFRS Financials 13

  14. Slide 14: IFRS Income Statement

    IFRS INCOME STATEMENT 3 months ended 30 September 9 months ended 30 September TL million 2017 2018 Change 2017 2018 Change Net Sales 6.262,6 8.460,3 35,1% 18.182,3 23.229,1 27,8% (COGS) (5.176,1) (6.876,3) 32,8% (15.056,5) (19.050,8) 26,5% Gross Profit 1.086,5 1.584,0 45,8% 3.125,8 4.178,3 33,7% Tot

  15. Slide 15: IFRS Balance Sheet

    IFRS BALANCE SHEET As of 30 September TL million Q3 2017 Q3 2018 Intangible assets 10,9 15,8 Tangible assets 2.340,7 3.526,5 Financial Investments (long term) 193,4 309,7 Other non-current assets 48,1 39,3 Total fixed assets 2.593,1 3.891,3 Trades receivable 728,1 1.075,8 Financial Investments (shor

  16. Slide 16: IFRS Cash Flow

    IFRS CASH FLOW 3 months ended 30 Sept 9 months ended 30 Sept TL million 2017 2018 2017 2018 Net Income 227,0 363,7 641,3 891,2 D&A 66,9 90,2 190,4 251,4 Non cash tax expense 62,1 105,1 175,5 268,6 Other non-cash items 25,2 44,6 65,8 54,9 Funds from operations 381,2 603,6 1.073,0 1.466,1 Change in ne

BIM Birleşik Mağazalar A.Ş. — Q3 2018 Earnings Presentation on 6ix