Bim Birlesik Magazalar A.s. · BIST:BIMAS

Bim Birlesik Magazalar A.s — Q3 2024 Earnings Presentation

26 slides from Bim Birlesik Magazalar A.s's earnings presentation, 2024

  1. Slide 1: 3Q 2024 Financial Results

    BIM. 3Q | 2024 FINANCIAL RESULTS

  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: Financial Performance Operational

    P R E S E N T A T I O N Highlights Operational Financial Performance Performance R E S U L T S 2 0 2 4 3 Q B I M Q &A APPDX

  4. Slide 4: Headlines of Key Figures for 3Q24

    HEADLINES of KEY FIGURES for 3Q24 (with TAS 29 inflation accounting on financials) Highlights 125.9 billion TL 19.5 billion TL SALES (+9% YoY) NET CASH (including STFA) P R E S E N T A T I O N 4.4 billion TL 13,377Total stores CAPEX (3.5% of sales) (253 net new R E S U L T S stores in 3Q24) 5.4 bill

  5. Slide 5: Operational Performance

    P R E S E N T A T I O N Highlights Operational Financial Performance Performance R E S U L T S 2 0 2 4 3 Q B I M Q &A APPDX

  6. Slide 6: Like for Like Sales Increase (BİM Türkiye)

    LIKE FOR LIKE SALES INCREASE (BIM TURKIYE*) Operational Performance QUARTERLY (w/o TAS 29) 9 MONTHS (w/o TAS 29) 2023 Q3 2024 Q3 CHANGE 2023 9M 2024 9M CHANGE Like-For-Like Sales Like-For-Like Sales (per store/per day (TL) 68,803 103,024 49.7% (per store/per day (TL) 58,863 95,716 62.6% P R E S E N

  7. Slide 7: Revenue Breakdown

    REVENUE BREAKDOWN Financial Performance BY FORMAT AND GEOGRAPHY* BY CATEGORY BİM Türkiye 3Q24 3Q24 P R E S E N T A T I O N 32% 8% 6% 30% R E S U L T S 87% 89% 3Q23 5% 3Q23 4% 58% 61% 1% 2 0 2 4 1% 8% 3 Q B I M 1% 9% 1% BİM TR FİLE BİM MAROC BİM EGYPT Private Label Branded Spot Exclusive *Without TAS

  8. Slide 8: Expansion

    EXPANSION Operational Performance QUARTERLY 394 381 365 759 356 734 P R E S E N T A T I O N 711 272 338 687 254 244 668 236 223 11,755 11,952 11,203 11,471 R E S U L T S 10,817 2 0 2 4 3Q23 4Q23 1Q24 2Q24 3Q24 3 Q B I M TOTAL 12,046 12,482 12,791 13,124 13,377 Openings (q-q) 228 436 309 333 253 • St

  9. Slide 9: Capex

    CAPEX Operational Performance QUARTERLY 9 MONTHS 3.5% 3.7% 3.2% 2,6% P R E S E N T A T I O N 13,642 4,440 With TAS 29 10,426 3,011 R E S U L T S 3Q23 3Q24 9M 2023 9M 2024 Capex Capex to sales Capex Capex to sales 2 0 2 4 3 Q 3.8% B I M 4.3% 4.0% 3.9% 3.2% 3.5% 3.0% 12,639 4,316 4,780 Without TAS 29

  10. Slide 10: Financial Performance

    P R E S E N T A T I O N Highlights Operational Financial Performance Performance R E S U L T S 2 0 2 4 3 Q B I M Q &A APPDX

  11. Slide 11: Net Sales

    NET SALES Financial Performance QUARTERLY 9 MONTHS 11% y-y 9% y-y P R E S E N T A T I O N 367,459 115,690 125,938 With TAS 29 330,891 R E S U L T S 3Q23 3Q24 9M 2023 9M 2024 Revenues (TRY m) Revenues (TRY m) 2 0 2 4 66% y-y 80% y-y 3 Q B I M 123,575 331,251 100,296 107,380 74,406 83,417 Without TAS

  12. Slide 12: Gross Profit

    GROSS PROFIT Financial Performance QUARTERLY 9 MONTHS 18.8% 17.7% 17.2% 16.6% P R E S E N T A T I O N 22,317 63,346 21,704 With TAS 29 54,978 R E S U L T S 3Q23 3Q24 9M 2023 9M 2024 Gross Profit (TRY m) Gross Margin Gross Profit (TRY m) Gross Margin 2 0 2 4 3 Q 20.9% 20.6% 20.8% B I M 19.5% 19.9% 19

  13. Slide 13: Operating Leverage

    OPERATING LEVERAGE Financial Performance QUARTERLY 9 MONTHS 16.6% 16.5% 15.0% 15.1% P R E S E N T A T I O N 60,621 17,481 20,968 With TAS 29 49,632 R E S U L T S 3Q23 3Q24 9M 2023 9M 2024 Opex (TRY m) Opex to Sales (%) 2 0 2 4 Opex (TRY m) Opex to Sales (%) 3 Q 15.1% B I M 14.8% 15.2% 15.2% 13.4% 13

  14. Slide 14: Opex Management Quarterly

    OPEX MANAGEMENT QUARTERLY * Financial 19% Performance 18% +150bp +1bp -4bp +5bp +9bp -6bp 0bp 16.65% 17% 16% 15.11% P R E S E N T A T I O N 15% 14% 13% R E S U L T S 12% 11% 2 0 2 4 10% 3 Q 3Q23 OPEX Personnel Utility Expense Packaging Vehicles fuel & Advertising D&A Other 3Q24 OPEX B I M expenses E

  15. Slide 15: EBITDA

    EBITDA Financial Performance QUARTERLY 9 MONTHS 6.8% 5.0% 4.0% 4.3% P R E S E N T A T I O N 16,456 7,885 14,671 5,434 With TAS 29 R E S U L T S 3Q23 3Q24 9M 2023 9M 2024 2 0 2 4 EBITDA (TRY m) EBITDA Margin EBITDA (TRY m) EBITDA Margin 3 Q 7.7% 7.2% B I M 9.0 % 8.3% 7.6% 6.5% 7.5% 9,250 Without TAS

  16. Slide 16: Net Income

    NET INCOME Financial Performance QUARTERLY 9 MONTHS 6.5% 4.0% 3.8% P R E S E N T A T I O N 3.5% 7,576 13,300 13,854 With TAS 29 4,351 R E S U L T S 3Q23 3Q24 9M 2023 9M 2024 Net Income (TRY m) Net Margin Net Income (TRY m) Net Margin 2 0 2 4 3 Q B I M 5.2% 5.1% 4.4% 4.4% 4.2% 3.9% 4.3% 4,425 5,308 W

  17. Slide 17: Quarterly Cash Flow Bridge

    QUARTERLY CASH FLOW BRIDGE* Financial Performance 4,780 Total 6,831 19,464 1,850 1,194 1,826 P R E S E N T A T I O N 9,485 Total STFA 9,145 16,615 STFA R E S U L T S 4,448 Cash Cash 4,697 2 0 2 4 2,849 3 Q Cash position Funds from Change in CAPEX Lease Payment Dividend Other Cash position B I M incl

  18. Slide 18: FİLE

    FİLE Financial Performance P R E S E N T A T I O N R E S U L T S 272 2 0 2 4 272 stores in 29 33% share of Online sales FİLE online shopping Stores cities, 18 new Private Labels form 5.3% of platform operates 3 Q stores in 3Q24. within FİLE’s total FİLE’s with 75 stores, two of B I M sales. revenues

  19. Slide 19: Foreign Operations

    FOREIGN OPERATIONS Financial Performance BIM MAROC MAROC P R E S E N T A T I O N 5.3 bn TL 4.3% of 5,022 759 Stores 4 logistic Sales Consolidated Employees as of 3Q24 centers EBITDA* R E S U L T S BIM EGYPT 2 0 2 4 3 Q B I M EGYPT 752 mn TL 0.3% of 2,501 394 Stores 2 logistics Sales Consolidated Emp

  20. Slide 20: Q&A

    P R E S E N T A T I O N Highlights Operational Financial Performance Performance R E S U L T S 2 0 2 4 3 Q B I M Q &A APPDX

  21. Slide 21: Appendix

    P R E S E N T A T I O N Highlights Operational Financial Performance Performance R E S U L T S 2 0 2 4 3 Q B I M Q &A APPDX

  22. Slide 22: TFRS Income Statement (with TAS 29)

    TFRS INCOME STATEMENT (with TAS 29) APPDX 9 months ended 30 September 3 months ended 30 September Change % Change % TL million 9M 2023 9M 2024 YoY 3Q 2023 3Q 2024 QoQ Net Sales 330,891 367,459 11% 115,690 125,938 9% COGS (275,913) (304,114) 10% (93,986) (103,621) 10% P R E S E N T A T I O N Gross Pr

  23. Slide 23: TFRS Income Statement (w/o TAS 29)

    TFRS INCOME STATEMENT (w/o TAS 29) APPDX 9 months ended 30 September 3 months ended 30 September Change % Change % TL million 9M 2023 9M 2024 YoY 3Q 2023 3Q 2024 QoQ Net Sales 183,618 331,251 80% 74,406 123,575 66% COGS (148,133) (263,535) 78% (58,835) (97,840) 66% P R E S E N T A T I O N Gross Prof

  24. Slide 24: TFRS Income Statement (w/o TAS 29 – w/o TFRS 16)

    TFRS INCOME STATEMENT (w/o TAS 29 – w/o TFRS 16) APPDX 9 months ended 30 September 3 months ended 30 September Change % Change % TL million 9M 2023 9M 2024 YoY 3Q 2023 3Q 2024 QoQ Net Sales 183,618 331,251 80% 74,406 123,575 66% COGS (148,133) (263,535) 78% (58,835) (97,840) 66% P R E S E N T A T I

  25. Slide 25: TFRS Balance Sheet (with TAS 29)

    TFRS BALANCE SHEET (with TAS 29) As of APPDX TL Million 31 December 2023 30 September 2024 TOTAL CURRENT ASSETS 73,988 83,664 Cash & Cash Equivalents 4,900 2,849 Financial Investments 4,594 16,615 Trade Receivables 21,908 22,826 Prepayments 2,849 3,099 Inventories 37,128 36,363 P R E S E N T A T I O

  26. Slide 26: TFRS Cash Flow (with TAS 29)

    TFRS CASH FLOW (with TAS 29) APPDX 9 months ended 30 September TL million 9M 2023 9M 2024 Net Income 13.291 13.881 D&A 11.110 11.946 Non Cash Tax Expense 9.116 4.760 Other Non-Cash Items (6.677) (2.106) P R E S E N T A T I O N Funds From Operations 26.840 28.480 Change In Net Working Capital 2.023 5

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