Koc Holding A.s. · BIST:KCHOL

Koc Holding A.s — Q1 2011 Earnings Presentation

23 slides from Koc Holding A.s's earnings presentation, May 13, 2011

  1. Slide 1: Koç Holding 1Q11 Earnings Presentation

    Koç Holding 1Q11 Earnings Presentation 13 May 2011

  2. Slide 2: 1Q11 Operating Environment

    1Q11 Operating Environment www.koc.com.tr 2

  3. Slide 3: Financial markets recovered in Turkey following a negative start to 2011

    1.80 1.90 2.00 2.10 2.20 2.30 6 7 8 9 10 11 04.01.10 04.01.10 31.01.10 31.01.10 27.02.10 27.02.10 26.03.10 26.03.10 22.04.10 22.04.10 19.05.10 19.05.10 15.06.10 15.06.10 12.07.10 12.07.10 CB Policy Rate 08.08.10 Euro 08.08.10 04.09.10 04.09.10 01.10.10 01.10.10 28.10.10 28.10.10 Exchange Rates (TL)

  4. Slide 4: Economic activity remained strong in 1Q 2011

    Economic activity remained strong in 1Q 2011 Industrial Production 12.0 GDP Growth (Quarterly, %) 9.2 10.3 25 28.0 10.0 20 125 5.2 26.0 15 10.4 5.0 GDP, TL billion 10 24.0 Growth, % 5 115 0.0 22.0 0 -5 -5.0 20.0 -10 105 -10.0 18.0 -15 -20 -15.0 16.0 -25 95 1-2005 2-2005 3-2005 4-2005 1-2006 2-2006 3

  5. Slide 5: Current account deficit is widening with the quality of its financing deteriorating

    Current account deficit is widening with the quality of its financing deteriorating Jan uary - December 2010 Jan uary - March 2011 $ billion Annual Change $ billion Annual Change (%) (%) Exports 113.9 11.5 Exports 31.5 21.0% Imports 185.5 31.6 Imports 56.1 45.6% Trade Balance -71.6 84.6 Trade Balanc

  6. Slide 6: Favorable food prices help inflation remain at historically lowest levels

    Favorable food prices help inflation to remain at historically lowest levels although some increase in 2Q is expected Annual Inflation(%, YoY) 12 10 8 8,2 6 4 4.3 2 0 -2 -4 CPI PPI -6 01.2009 02.2009 03.2009 04.2009 05.2009 06.2009 07.2009 08.2009 09.2009 10.2009 11.2009 12.2009 01.2010 02.2010 03.2

  7. Slide 7: 1Q11 Koç Group Core Sectors

    1Q11 Koç Group Core Sectors www.koc.com.tr 7

  8. Slide 8: Energy

    Energy Tüpraş Capacity Utilization – % Tüpraş Net Margins vs Med Complex Gross Margins – US$/Barrel 3.86 73.4 3.50 62.2 6.0 7.8 67.4 1.37 54.4 0.42 1Q10 1Q11 1Q10 1Q11 Crude Others Tüpraş Net Margin Med Complex Gross Margin Opet Market Share Development – % 19.2 18.6 17.4 17.4 16.7 16.5 16.4 16.1 15

  9. Slide 9: Automotive

    Automotive Sales Units, Market * – January-March Sales Development, Market * – Units, Monthly Koç Market 18% 18% 45% 49% 27% 28% Share 90000 +51% +76% 80000 200000 180000 70000 +88% 160000 +83% 60000 +123% 140000 120000 50000 100000 +64% 40000 80000 60000 30000 40000 20000 20000 0 10000 Light Commer

  10. Slide 10: Consumer Durables

    Consumer Durables Sales Units, Market * – January-March Sales Development, Market * – Units, Monthly +26% 1600000 600000 +23% 1400000 1200000 +29% 500000 +27% 1000000 800000 +27% +27% 400000 +37% 600000 +5% 300000 400000 200000 200000 0 Washing 100000 Refrigerator Dishwasher Oven TOTAL Machine 2010

  11. Slide 11: Finance

    Finance Selective Lending Growth – YtD Sustainable Revenue Generation General Purpose Loans Mortgage Fees / Revenues 18% 10% 26% 8% 21% 11% YKB Sector YKB Sector YKB Sector Strong Cost / Income Improvement High Coverage of Opex with Fees YKB Sector Fees / Opex -2.2pp +5.7pp 63% 43.8% 41.6% 41.7% 36.

  12. Slide 12: 1Q11 Financial Results

    1Q11 Financial Results www.koc.com.tr 12

  13. Slide 13: Financial Performance

    Financial Performance Revenues  TL15,158mn (US$9,652mn)  37% YoY increase in TL terms and 31% in US$ terms Operating Profit  TL1,347mn (US$858mn)  55% YoY increase in TL terms and 49% in US$ terms EBITDA  TL1,594mn (US$1,015mn)  45% YoY increase in TL terms and 38% in US$ terms Profit Before T

  14. Slide 14: Main Financial Indicators

    Main Financial Indicators € Mn* US$ Mn* TL Mn TL Mn Change Change 31.Mar.2011 31.Mar.2011 31.Mar.2011 31.Mar.2010 %, TL %, US$ Revenues 7,060 9,652 15,158 11,104 p 37 p 31 Gross Profit 1,151 1,573 2,470 1,978 p 25 p 19 EBITDA 742 1,015 1,594 1,102 p 45 p 38 Operating Profit 628 858 1,347 867 p 55 p

  15. Slide 15: Strong Revenue Growth

    Strong Revenue Growth Revenues – TLmn Share of Segment Revenues – % 37% 15,158 11,104 Energy 60% Automotive 15% Durables 12% 1Q10 1Q11 Other Finance 4% 9% Segment Contribution to Revenues – TLmn 45% 9,138 6,303 46% 17% 16% 12% 2,263 1,549 1,539 1,798 1,164 1,345 549 614 Energy Automotive Durables Fi

  16. Slide 16: Energy's Share Increased due to One-Off Inventory & Capital Gains

    Energy’s Share Increased due to One-Off Inventory & Capital Gains EBITDA – TLmn Segmental EBITDA Breakdown – % 45% 1,594 Energy Automotive 1,102 45% 14% Durables 13% Other 2% 1Q10 1Q11 Finance 26% Segment Contribution to EBITDA – TLmn EBITDA Margin by Segment – % 127% 718 33.2 30.7 7% 414 387 316 47

  17. Slide 17: 55% Increase in Operating Profit

    55% Increase in Operating Profit Operating Profit Consumer Energy Automotive Finance Other TOTAL TL mn Durables 1Q10 627 163 151 388 19 1,347 Operating Profit – TLmn Segmental Operating Profit Breakdown – % 55% Energy 1,347 47% 867 Automotive 12% Other 1% Durables 11% Finance 1Q10 1Q11 29% www.koc.c

  18. Slide 18: Solid Margin Performance

    Solid Margin Performance EBITDA Margin – % Operating Margin – % 10.1 10.5 8.9 9.9 7.6 7.8 1Q09 1Q10 1Q11 1Q09 1Q10 1Q11 Profit Before Tax Margin – % 9.0 7.2 1.8 1Q09 1Q10 1Q11 www.koc.com.tr 18

  19. Slide 19: Strong Liquidity and Well-Managed Risk

    Strong Liquidity and Well-Managed Risk Koç Holding Stand-Alone 31.03.2011 Net Cash Position Total Debt: ~US$ 0.15 bn Total Cash: ~US$ 1.04 bn Net Cash: ~US$ 885 mn 2012-2013 Redemption Schedule US$ 150 mn – to be paid in equal annual installments of US$ 75 mn each January Consolidated Net Debt / Cas

  20. Slide 20: Resilient Against FX Volatility

    Resilient Against FX Volatility Koç Holding Stand-Alone FX Position 2010 1Q11 US$ + 323mn US$ + 333mn Koç Holding Consolidated FX Position Weighted by Effective FX Position Ownership 9M08 2008 2009 2010 1Q11 2009 2010 1Q11 US$ - 4.2bn US$ - 2.2bn US$ - 1.7bn US$ - 2.9bn US$ - 2.6bn* US$ - 1.1bn US$

  21. Slide 21: 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

  22. Slide 22: Shareholder Structures as of March 2011

    Shareholder Structures as of March 2011 Koç Holding Koç Family: 68.51% Free Float: 22.35% Vehbi Koç Foundation: 7.15% Koç Pension Fund: 1.99% Consumer Energy Automotive Finance Other Durables Tüpraş Ford Otosan Arçelik Tat Konserve SPV share: 51.00% KH share: 38.46% Koç Financial Services KH share:

  23. Slide 23: For Further Questions, Please Contact

    For Further Questions, Please Contact : Winner 2010 Best IR Website Award investorrelations@koc.com.tr Funda Güngör Akpınar, Coordinator Investor Relations Strategic Planning Group fundag@koc.com.tr +90 216 531 0535 Aslı Soyubol, Manager Investor Relations Strategic Planning Group aslii@koc.com.tr +

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