Bim Birlesik Magazalar A.s. · BIST:BIMAS

Bim Birlesik Magazalar A.s — Q1 2015 Earnings Presentation

17 slides from Bim Birlesik Magazalar A.s's earnings presentation, Mar 31, 2015

  1. Slide 1: For the 3 months to 31 March 2015

    Forthe 3 months to 31 March 2015 TOPTAN FIYATINA PERAKENDE SATIS

  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 Q1 2015

    HEADLINES FOR Q1 2015  Strong growth in first quarter sustained: Net Sales at 4.094,2 Mio TL (+21% YoY) EBITDA at 187,0 Mio TL (17% YoY) Net income at 123,5 Mio TL (15% YoY)  Like for Like sales up 10,6%  Continued expansion – 133 new stores in Turkey, 13 in Morocco and 16 in Egypt  First FİLE s

  4. Slide 4: Quarterly Net Sales and Gross Profit

    QUARTERLY NET SALES AND GROSS PROFIT TL Million Net Sales 1000,0 4500 Gross Profit 900,0 4000 4.094,2 3500 3.752,7 3.754,3 800,0 3.561,0 3.395,1 3000 700,0 634,3 2500 589,4 545,4 563,2 600,0 528,1 2000 500,0 1500 400,0 1000 500 300,0 0 200,0 1Q14 2Q14 3Q14 4Q14 1Q15 Gross Margin 15,6% 15,3% 15,7% 15

  5. Slide 5: Quarterly EBITDA and EBIT

    QUARTERLY EBITDA AND EBIT TL Million 200 180 187,0 EBITDA 160 176,5 140 160,1 EBIT 148,5 141,0 141,3 141,0 120 128,1 100 107,2 80 105,3 60 40 20 0 1Q14 2Q14 3Q14 4Q14 1Q15 EBITDA 4,7% 4,0% 4,7% 3,8% 4,6% EBIT 3,8% 3,0% 3,8% 2,8% 3,6% EBITDA – EARNINGS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTIZAT

  6. Slide 6: Quarterly Net Income

    QUARTERLY NET INCOME TL Million 130 Net Income 120 123,7 110 115,4 100 107,8 90 80 89,7 82,4 70 60 50 40 30 20 10 0 1Q14 2Q14 3Q14 4Q14 1Q15 Net Income 3,2% 2,5% 3,1% 2,2% 3,0% Margin 6

  7. Slide 7: Like for Like Sales Increase

    LIKE FOR LIKE SALES INCREASE Quarterly 2014 Q1 2015 Q1 INCREASE Like For Like 3.004,2 3.323,6 10,6% Sales (Mil TL) Like For Like 12,02 13,40 11,5% Basket (TL) Like For Like Customer Traffic 774,8 769,0 -0,7% (Per store/per Day) * Note: calculated on the basis of net sales generated in 1Q14 and 1Q15

  8. Slide 8: Private Label Sales Continue to Grow

    PRIVATE LABEL SALES CONTINUE TO GROW 1Q14 1Q15 BRANDED PRIVATE BRANDED 20,3% LABEL 19,9% 69,5% PRIVATE LABEL 70,7% EXCLUSIVE EXCLUSIVE 5,3% 4,8% SPOT SPOT 4,6% 4,9% 8

  9. Slide 9: Low-Capex Business Model

    LOW-CAPEX BUSINESS MODEL TL Million Quarterly CAPEX % of Net Sales % of Net Sales 150 7 145,6 6 113,1 5 100 107,7 95,2 4 4,3 % 3 3,0% 50 2,7% 58,4 2,6% 2 1,6% 1 0 0 1Q14 2Q14 3Q14 4Q14 1Q15 9

  10. Slide 10: Strong Store Growth Continues

    STRONG STORE GROWTH CONTINUES Number of Stores 5.000 Stores in Turkey 4.750 4.500 4.635 4.406 4.502 4.250 4.344 4.159 4.000 3.750 3.500 3.250 3.000 1Q14 2Q14 3Q14 4Q14 1Q15 10

  11. Slide 11: Foreign Operations - Highlights

    FOREIGN OPERATIONS - HIGHLIGHTS MOROCCO EGYPT • 13 Stores opened in 1Q 2015 • 16 Stores opened in 1Q 2015 and we have 236 to date and we have 97 to date • Targeting 81 openings in 2015 • Targeting 54 openings in 2015 and to exceed 300 stores and to exceed 135 stores • Targeting EBITDA positive in •

  12. Slide 12: New discount supermarket format store opened

    • First store of our new format of “discount supermarket”opened in March with 1200 m2 in Istanbul • First figures are promising • More than 10 stores will be opened by the end of this year • Private Label share is 27% 12

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  15. Slide 15: IFRS Income Statement

    IFRS INCOME STATEMENT 3 months ended 31 March TL million 2014 2015 Net Sales 3.395,1 4.094,2 (COGS) (2.867,0) (3.459,9) Gross Profit 528,1 634,3 Total SG&A (368,0) (447,3) EBITDA 160,1 187,0 D&A (32,0) (38,5) EBIT 128,1 148,5 Net financial income/(expenses) 6,3 5,9 Other income/(expenses) 2,8 3,7 PB

  16. Slide 16: IFRS Balance Sheet

    IFRS BALANCE SHEET As at 31 March TL million Q1 2014 Q1 2015 Intangible assets 4,4 4,7 Tangible assets 1.084,7 1.304,1 Financial Investments (long term) 118,0 157,5 Other non-current assets 27,3 25,5 Total fixed assets 1.234,4 1.491,8 Trades receivable 364,1 480,0 Inventories 678,5 866,1 Prepayment

  17. Slide 17: IFRS Cash Flow

    IFRS CASH FLOW 3 months ended 31 March TL million 2014 2015 Net Income 107,8 123,5 D&A 32,0 38,5 Other non-cash items (2,8) (2,8) Funds from operations 137,0 159,2 Change in net working capital 157,8 25,7 Operating cash flow 294,8 184,9 Capital expenditures (145,6) (107,7) Proceeds from sales of PPE

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