Bim Birlesik Magazalar A.s. · BIST:BIMAS

Bim Birlesik Magazalar A.s — Q1 2014 Earnings Presentation

17 slides from Bim Birlesik Magazalar A.s's earnings presentation, Mar 31, 2014

  1. Slide 1: For the 3 months to 31 March 2014

    For the 3 months to 31 March 2014

  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 2014

    HEADLINES FOR Q1 2014  Strong growth in first quarter sustained: Net Sales at 3.395 Mio TL (+21% Q to Q) EBITDA at 160,1 Mio TL (12% Q to Q)) Net income at 107,8 Mio TL (11% Q to Q)  Like for Like sales up 11,2%  Continued expansion – 159 new stores in Turkey, 16 in Morocco and 17 in Egypt  BİMC

  4. Slide 4: Quarterly Net Sales and Gross Profit

    QUARTERLY NET SALES AND GROSS PROFIT TL Million Net Sales 600,0 3.300 Gross Profit 3.395,1 3.000 3.132,2 3.087,5 528,1 2.700 2.833,6 2.795,5 493,4 487,5 500,0 2.400 442,0 2.100 434,4 1.800 400,0 1.500 1.200 900 300,0 600 300 0 200,0 1Q13 2Q13 3Q13 4Q13 1Q14 Gross Margin 15,5% 15,6% 16,0% 15,6% 15,6%

  5. Slide 5: Quarterly EBITDA and EBIT

    QUARTERLY EBITDA AND EBIT TL Million 180 166,1 160,1 160 153,1 143,3 EBITDA 137,9 140 133,4 128,1 123,8 117,2 EBIT 120 106,2 100 80 60 40 20 0 1Q13 2Q13 3Q13 4Q13 1Q14 EBITDA 5,1% 4,7% 5,4% 4,9% 4,7% EBIT 4,2% 3,7% 4,5% 4,0% 3,8% EBITDA – EARNINGS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTIZATION

  6. Slide 6: Quarterly Net Income

    QUARTERLY NET INCOME TL Million 120 Net Income 117,2 100 105,7 107,8 97,2 92,8 80 60 40 20 0 1Q13 2Q13 3Q13 4Q13 1Q14 Net Income Margin 3,5% 3,3% 3,8% 3,4% 3,2% 6

  7. Slide 7: Like for Like Sales Increase

    LIKE FOR LIKE SALES INCREASE Quarterly 2013 Q1 2014 Q1 INCREASE Like For Like Sales 2.508,5 2.788,3 11,2% (Mil TL) Like For Like Basket 11,03 11,99 8,7% (TL) Like For Like Customer Traffic (Per 778,9 796,8 2,3% store/per Day) * Note: calculated on the basis of net sales generated in 1Q13 and 1Q14 by

  8. Slide 8: Private Label Sales Continue to Grow

    PRIVATE LABEL SALES CONTINUE TO GROW 1Q13 1Q14 BRANDED PRIVATE BRANDED 21,5% LABEL 20,3% 68,0% PRIVATE LABEL 69,5% EXCLUSIVE EXCLUSIVE 5,1% 5,3% SPOT SPOT 4,9% 5,4% 8

  9. Slide 9: Capex

    CAPEX TL Million Quarterly CAPEX % of Net Sales % of Net Sales 150 7 145,6 6 5 100 4,3% 4 70,1 3 50 56,7 58,9 59,8 2,5% 2 2,0% 1,9% 1,9% 1 0 0 1Q13 2Q13 3Q13 4Q13 1Q14 9

  10. Slide 10: Strong Store Growth Continues

    STRONG STORE GROWTH CONTINUES Number of Stores 4.250 Stores in Turkey 4.159 4.000 4.000 3.922 3.859 3.750 3.735 3.500 3.250 3.000 1Q13 2Q13 3Q13 4Q13 1Q14 10

  11. Slide 11: BIM Morocco Update

    BIM MOROCCO UPDATE 31.3.2013 30.6.2013 30.9.2013 31.12.2013 31.3.2014 No. of Stores 120 134 150 164 180 • 16 new stores opened in 1Q 2014 and we have 184 to date • Second region in Casablanca accelerated store openings • Expecting to be cash generating by end of 2015 11

  12. Slide 12: BIM Egypt Update

    BIM EGYPT UPDATE 30.6.2013 30.9.2013 31.12.201 31.3.2013 No. of Stores 26 29 35 52 • BIM Stores LLC in Egypt is developing • 17 new stores opened in 1Q 2014 and we have 54 stores to date • Our target for 2014 is to open 50 new stores and reach 85 by the end of the year 12

  13. Slide 13: 13

    13

  14. Slide 14: 14

    14

  15. Slide 15: IFRS Income Statement

    IFRS INCOME STATEMENT 3 months ended 31 March TL million 2013 2014 Net Sales 2.795,5 3.395,1 (COGS) (2.361,1) (2.867,0) Gross Profit 434,4 528,1 Total SG&A (291,1) (368,0) EBITDA 143,3 160,1 D&A (26,1) (32,0) EBIT 117,2 128,1 Net financial income/(expenses) 4,3 6,3 Other income/(expenses) 1,8 2,8 PB

  16. Slide 16: IFRS Balance Sheet

    IFRS BALANCE SHEET As at 31 March TL million Q1 2013 Q1 2014 Intangible assets 3,3 4,4 Tangible assets 873,4 1.084,7 Financial Investments (long term) 12,6 118,0 Other non-current assets 15,0 27,3 Total fixed assets 904,3 1.234,4 Trades receivable 319,3 364,1 Inventories 507,0 678,5 Prepayment and o

  17. Slide 17: IFRS Cash Flow

    IFRS CASH FLOW 3 months ended 31 March TL million Q1 2013 Q1 2014 Net Income 97,2 107,8 D&A 26,1 32,0 Other non-cash items (4,6) (2,8) Funds from operations 118,7 137,0 Change in net working capital 63,5 157,8 Operating cash flow 182,2 294,8 Capital expenditures (56,7) (145,6) Proceeds from sales of

BİM Birleşik Mağazalar A.Ş. — Q1 2014 Earnings Presentation on 6ix