Ulusoy Elektrik Imalat Taahhut Ve Ticaret As · BIST:ULUSE
Ulusoy Elektrik Imalat Taahhut Ve Ticaret As — Ulusoy Elektrik — Q1 2019 Earnings Presentation
20 slides from Ulusoy Elektrik Imalat Taahhut Ve Ticaret As's earnings presentation, May 10, 2019
Slide 1: 1Q2019 Financial Results
1Q2019 Financial Results May 10, 2019
Slide 2: Agenda
Agenda 2 01 Highlights 02 Sales Performance 03 Financial Results May 10, 2019
Slide 3: Highlights
Highlights November 01, 2018
Slide 4: 1Q2019 Highlights
1Q2019 Highlights 4 Performance Sustainability Strong performance in margins, Contraction in parallel with the slowdown 29,1% EBITDA and uncertainty in the domestic investment 35,9% Gross Margin environment Export revenue increased Diversified and sustainable export by 38% Export revenue; 58% of tot
Slide 5: Sales Performance
Sales Performance November 01, 2018
Slide 6: Domestic Market Performance
Domestic Market Performance 6 Domestic Revenue Breakdown Electricity Distribution Companies by Customer Segment Investment Plan (mn TL) Dist. Co. Dist. Co. Direct 18% 30% Sales Direct 34% Sales 51% 9.600 Distributors Distributors 31% 4.700 36% 3.700 3.700 550 1Q2018 1Q2019 2006-2010 2011-2015 2016 2
Slide 7: Domestic Market Performance
Domestic Market Performance 7 Domestic Revenue Breakdown by Customer Segment (mn TL) Distribution Companies Direct Sales Distributors 146 136 01 02 116 111 99 90 03 03 18 6 21 18 22 11 1Q2018 1Q2019 2017 2018 1Q2018 1Q2019 2017 2018 1Q2018 1Q2019 2017 2018 May 10, 2019
Slide 8: Export Market Performance
8 Export Market Performance *01.01.2018 – 31.03.2018 average USD = 3,8094 Export Revenue Breakdown **01.01.2019 – 31.03.2019 average USD = 5,3629 by Customer Segment OEM Component Sales OEM Component 13% Sales 23% Dist. Co. Direct Sales 4% 41% 04 01 Direct Sales 53% 03 Distributors Dist. Co. 30% 24%
Slide 9: Export Market Performance
Export Market Performance 9 Export Revenue Breakdown by Customer Segment (mn TL) 107 Distribution Companies Direct Sales Distributors OEM Component Sales 01 02 53 47 03 03 33 31 19 20 6 0 1 12 16 9 11 9 4 1Q2018 1Q2019 2017 2018 1Q2018 1Q2019 2017 2018 1Q2018 1Q2019 2017 2018 1Q2018 1Q2019 2017 2018
Slide 10: Export Market Performance
Export Market Performance 10 Diversified & Sustainable Top 10 Export Destinations Export 1Q2018 22% 22% 1Q2019 01 02 02 12% 8% 8% 7% 7% 6% 6% 5% 5% 5% 4% 4% 3% 1% 1% 1% 0% 0% Algeria Tunusia Iraq Spain Jordan Sudan Latvia Palestine Afghanistan Ukrania May 10, 2019
Slide 11: Local & Int'l Competition
Local & Int’l Competition 11 2017 Local Players mn TL Rank ASTOR ELİMSAN Net Sales 436 394 2017 Revenue TL 468 mn 2017 Revenue TL 239 mn Net Profit 103 125 Family-run business Owned by Saudi Cable Equity 206 263 HQ in Ankara HQ in Kocaeli Product : Transformer, Siwtchgear Product: Switchgear Global
Slide 12: Financial Results
Financial Results November 01, 2018
Slide 13: 1Q2019 Financial Results
1Q2019 Financial Results 13 TL 84,5 mn TL 48,8 mn (*USD 9,1 mn) Total Sales Revenue Export Sales Revenue TL 29,4 mn Net Profit TL 35,7 mn TL 24,6 mn Domestic Sales Revenue EBITDA * 01.01.2019 – 31.03.2019 average USD = 5,3629 May 10, 2019
Slide 14: Revenue (mn TL)
Revenue (mn TL) 14 Domestic Total 563,9 Export Total 434,7 USD 238,4 USD 16,6 mn 60,7 49,3 mn Total Total 374,1 325,6 96,5 84,5 USD USD 9,3 mn 9,1 mn 35,4 48,8 61,1 35,7 2017 2018 1Q2018 1Q2019 01.01.2017 – 31.12.2017 average USD = 3,6477 01.09.2017 – 31.12.2017 average USD = 3,7955 01.01.2018 – 31.
Slide 15: Quarterly Revenues Breakdown (mn TL)
Quarterly Revenues Breakdown (mn TL) 15 2014 2015 2016 2017 2018 2019 169,6 158,1 147,9 139,8 121,5 96,5 98,8 91,8 84,5 66,5 55,1 54,1 50,2 47,6 46,6 43,6 42,4 35,1 32,1 30,7 24,2 1Q 2Q 3Q 4Q - Since 2012, 1Q revenues constituted avg. 22% of total sales during the year. - Since 2012, 4Q revenues con
Slide 16: Total Revenue & Sales Breakdown by Product
16 Total Revenue & Sales Breakdown by Product 2018 2017 ∆ 1Q2018 1Q2019 ∆ mn TL mn TL mn TL mn TL mn TL mn TL Distribution Transformers 107,8 47,7 126% 38,5 15,6 147% Metal Enclosed Component 35,8 5,9 502% 5,8 0,7 796% (Circuit Breaker & LBS) Uring 83,6 42,4 97% 32,4 12,3 164% Metal Enclosed 190,6 2
Slide 17: Income Statement
Income Statement 17 mn TL 2018 2017 ∆ 1Q2018 1Q2019 ∆ - Domestic Sales 325,6 374,1 -13% 61,1 35,7 -41% - Export Sales 238,4 60,7 293% 35,4 48,8 38% Total Sales Revenue 563,9 434,7 30% 96,5 84,5 -12% Gross Profit 190,8 128,6 48% 24,5 30,4 24% Net Operating Income 163,4 106,1 54% 17,1 22,6 32% Profit
Slide 18: Profitability
Profitability 18 2018 2017 ∆ 1Q2018 1Q2019 ∆ Gross Profit Margin 33,7% 29,5% 4,3% 25,2% 35,9% 10,8% Operating Profit Margin 28,9% 24,3% 4,6% 17,5% 26,7% 9,1% Net Profit Margin 22,2% 19,9% 2,3% 16,4% 34,8% 18,4% EBITDA Margin 30,0% 25,5% 4,5% 19,0% 29,1% 10,1% 35,9% 34,8% 33,7% 29,5% 28,9% 30,0% 29,1
Slide 19: Financial Ratios
Financial Ratios 19 2018 1Q2019 ∆ Current Ratio 4,4 6,1 41% Quick Ratio 3,4 4,7 39% Net Financial Position (mn TL) -82,6 -106,5 29% Net Debt/Equity -0,3 -0,3 17% Current Assets / Total Assets 0,8 0,8 1% Current Liabilities / Total Liabilities 1,0 0,9 -3% Total Liabilities / Total Assets 0,2 0,1 -26%
Slide 20: Thank you…
Thank you… For further information; ir@ulusoyelektrik.com.tr +90 312 267 0712 November 01, 2018