Dogan Sirketler Grubu Holding A.s. · BIST:DOHOL
Dogan Sirketler Grubu Holding A.s — Q2 2023 Earnings Presentation
25 slides from Dogan Sirketler Grubu Holding A.s's earnings presentation, Aug 18, 2023
Slide 1: Doğan Holding 2Q23 Earnings Presentation
Doğan Holding 2Q23 Earnings Presentation August 18, 2023
Slide 2: 2Q23 Highlights
2Q23 Highlights Significant Growth in Operating Profit • Ongoing robust revenue and profitability in Automotive segment • Very big contribution from our Insurance business • Impressive operating performance at Karel High Net Cash Position and Solid Balance Sheet • USD649 million solo net cash • USD5
Slide 3: 2Q23 Highlights – excludes Aytemiz & Celik Halat
2Q23 Highlights – excludes Aytemiz & Celik Halat Revenue EBITDA Net Income (TL mn) %187 8,726 2,535 5,878 %290 %289 3,043 651 1,511 2Q22 2Q23 2Q22 2Q23 2Q22 2Q23 • Inorganic growth from Karel acquisition • Strong contribution from Automotive, • Higher FX gain YoY (+) (+) Insurance and Finance & Inve
Slide 4: Share Buyback / Dividend Inflow and Payments
Share Buyback /Dividend Inflow and Payments Share Buyback Program Dividend Inflow Dividend Payments • Share Buyback Program updated at the • Consistent dividend inflow from group • Dividend Policy: targets to distribute >5% General Assembly dated March 30, 2022. companies. of paid-in capital. • Prog
Slide 5: Electricity Generation Segment
Electricity Generation Segment Electricity Generation Segment Summary Financials 2Q23 Overview TL million 2Q22 2Q23 Δ 1H22 1H23 Δ • Electricity production contracted by 4.9% in 5M23 Revenue 228 254 11% 518 591 14% Gross Profit 182 182 0% 428 445 4% • Falling trend in coal and natural gas prices led
Slide 6: Electricity Generation Segment – Galata Wind
Electricity Generation Segment – Galata Wind Galata Wind Summary Financials 2Q23 Overview milyon TL 2Ç22 2Ç23 Δ 1Y22 1Y23 Δ • Revenue grew by a moderate 11% on lower production. Gelir 228 254 11% 518 591 14% Brüt Kar 181 181 0% 428 444 4% • Margin contraction due to rising costs, especially distribu
Slide 7: Electricity Generation Segment – Galata Wind
Electricity Generation Segment – Galata Wind Domestic Investments Foreign Investments Post -2025 Domestic Investments Current & Additional Capacities & New Investments Pre-approved licenses for Two agreements signed with developer for 300 Storage Units Production Installed Additional New Capacity St
Slide 8: Industry & Trade Segment
Industry & Trade Segment Industry & Trade Segment Summary Financials 2Q23 Overview TL million 2Q22 2Q23 Δ 1H22 1H23 Δ • Group companies recorded robust organic growth. Revenue 1,419 3,070 116% 2,676 5,833 118% Gross Profit 309 717 132% 580 1,148 98% • Achieved margin improvement on QoQ basis. EBITDA
Slide 9: Industry & Trade Segment – Ditaş
Industry & Trade Segment – Ditaş Ditaş Summary Financials 2Q23 Overview TL million 2Q22 2Q23 Δ 1H22 1H23 Δ • Increased automotive production drove the top-line growth of Revenue 183 269 47% 341 515 51% Gross Profit 34 47 40% 68 61 -11% 47% YoY. EBITDA 22 25 n.m. 41 15 -64% • Achieved QoQ improvement
Slide 10: Industry & Trade Segment – Sesa Ambalaj
Industry & Trade Segment – Sesa Ambalaj Sesa Ambalaj Summary Financials 2Q23 Overview TL million 2Q22 2Q23 Δ 1H22 1H23 Δ • Contracting domestic demand pressured revenue growth Revenue 366 471 29% 689 961 40% Gross Profit 112 117 4% 207 250 21% • EBITDA margin improved on a quarterly basis but declin
Slide 11: Industry & Trade Segment – Karel Elektronik
Industry & Trade Segment – Karel Elektronik Karel Elektronik Summary Financials 2Q23 Overview TL million 2Q22 2Q23 Δ 1H22 1H23 Δ • Inorganic contribution and new businesses led to a 199% top-line Revenue 610 1,821 199% 1,162 3,276 182% Gross Profit 98 403 309% 259 651 152% growth. EBITDA 66 344 423%
Slide 12: Automotive Segment – Dogan Trend Otomotiv
Automotive Segment – Dogan Trend Otomotiv Automotive Segment Summary Financials 2Q23 Overview TL million 2Q22 2Q23 Δ 1H22 1H23 Δ • Ongoing robust demand led to strong triple-digit top-line growth Revenue 897 3,015 236% 1,287 4,715 266% Gross Profit 217 671 210% 326 1,092 235% of 236% YoY. EBITDA 150
Slide 13: Finance & Investment Segment
Finance & Investment Segment Finance & Investment Segment Summary Financials 2Q23 Overview TL million 2Q22 2Q23 Δ 1H22 1H23 Δ Revenue 156 1,814 1062% 272 3,129 1049% • Doğan Investment Bank (DIB)’s asset size increased to TL2.3 Gross Profit 74 1,137 1439% 131 1,417 981% billion. EBITDA -11 960 n.m.
Slide 14: Hepiyi Sigorta – 2Q23
Hepiyi Sigorta – 2Q23 Monthly Premium Generation (mn TL) Assets Under Management (mn USD) 149 500 507 420 316 354 299 76 December '22 June '23 Premium Breakdown by Product Casco Market Share 2% 1.7% 16% 0.7% 51% 31% Aralık '22 Mayıs '22 Kaynak: TSB Traffic Casco Traffic - Pool Other 13 Doğan Holding
Slide 15: Internet & Entertainment Segment
Internet & Entertainment Segment Internet & Entertainment Segment Summary Financials 2Q23 Overview TL million 2Q22 2Q23 Δ 1H22 1H23 Δ • Revenues grew by 61% to TL425 million in 2Q23. Revenue 264 425 61% 463 756 63% Gross Profit 122 190 56% 213 346 62% • The largest contributor was Kanal D Romania, w
Slide 16: Real Estate Investments Segment
Real Estate Investments Segment Real Estate Investments Segment Summary Financials 2Q23 Overview TL million 2Q22 2Q23 Δ 1H22 1H23 Δ • Ongoing high occupancy rates led to 149% revenue growth to Revenue 79 149 88% 126 252 100% Gross Profit 19 52 180% 34 86 151% TL149 million. EBITDA 8 40 426% 18 67 27
Slide 17: Apendix
Apendix
Slide 18: Apendix – Financials
Apendix – Financials TL million 2Q22 2Q23 Δ 1H22 1H23 Δ TL million 2022 2Q23 Δ Sales 3,043 8,726 187% 5,342 15,277 186% Current Assets 30,042 41,410 38% Cost of Goods Sold -2,141 -5,730 168% -3,670 -10,774 194% Non-Current Assets 12,189 12,731 4% Gross Profit 902 2,997 232% 1,671 4,503 169% Total As
Slide 19: Apendix – Revenue Breakdown
Apendix – Revenue Breakdown TL million 2Q22 2Q23 Δ 1H22 1H23 Δ Electricity Generation 228 254 11% 518 591 14% Electricity Sales 228 254 11% 518 591 14% Industry & Trade 1,419 3,070 116% 2,676 5,833 118% Industry 345 2049 494% 844 3739 343% Foreign trade 627 470 -25% 1034 973 -6% Packaging 436 539 24
Slide 20: Apendix – Financial Results by Segments
Apendix – Financial Results by Segments TL million 2Q22 2Q23 Δ 1H22 1H23 Δ TL million 2Q22 2Q23 Δ 1H22 1H23 Δ Revenue 3,043 8,726 187% 5,342 15,277 186% EBITDA 651 2,535 290% 1,221 3,558 191% Electricity Generation 228 254 11% 518 591 14% Electricity Generation 198 186 -6% 452 453 0% Industry & Trad
Slide 21: Apendix – Net Cash / (Debt) Breakdown
Apendix – Net Cash / (Debt) Breakdown TL million 2022 2Q23 Δ Electricity Generation 30 208 597% Industry & Trade -4,868 -4,328 -11% KAREL -2,968 -2,287 -23% DITAS -291 -259 -11% Doğan Dış Ticaret -768 -938 22% Sesa Yatırım -834 -789 -5% Other -8 -55 587% Automotive -1,460 -564 -61% Finance & Investm
Slide 22: Apendix – Segments & Major Group Companies – 2Q23 Financials
Apendix – Segments & Major Group Companies – 2Q23 Financials TL mn Petroleum Products Automotive Trade & Internet & Real Estate Electricity Generation Industry & Trade Financing & Investing Retailing Marketing Entertainment Investments Revenue n.a. 254 3,070 3,015 1,814 425 149 Revenue Shr. n.a. 3%
Slide 23: Electricity Generation Segment – Boyabat & Aslancık HPP
Electricity Generation Segment – Boyabat & Aslancık HPP Boyabat & Aslancık HPP Summary Financials* 2Q23 Overview Boyabat HPP Summary Financials • In 2Q23, Boyabat HPP generated 220 GWh electricity, TL million 2Q22 2Q23 Δ 1H22 1H23 Δ indicating an increase of 4.5% Revenue 112 316 181% 440 691 57% • I
Slide 24: Investor Relations Contact
Investor Relations Contact Bora Tezgüler Investor Relations Director borat@doganholding.com.tr Kerimcan Uzun Investor Relations Manager kerimu@doganholding.com.tr www.doganholding.com.tr ir@doganholding.com.tr +90 216 556 90 00 23 Doğan Holding 2Q23 Earnings Presentation
Slide 25: Disclaimer
Disclaimer Doğan Şirketler Grubu Holding A.Ş. (“Doğan Holding”) has prepared this book (the “Book”) for the sole purpose of providing information relating to DoğanHolding (the “Information”). The contents of this Book is based on public information and on data provided by Doğan Holding management. N
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