Turk Traktor Ve Ziraat Makineleri A.s. · BIST:TTRAK
Turk Traktor Ve Ziraat Makineleri A.s — H1 2015 Earnings Presentation
29 slides from Turk Traktor Ve Ziraat Makineleri A.s's earnings presentation, Jul 30, 2015
Slide 1: Analyst Meeting Presentation
Analyst Meeting Presentation 30 July 2015
Slide 2: Agenda
Agenda 2 2015/1H performance Global markets and TürkTraktör performance Local market and TürkTraktör performance Sales Financial results
Slide 3: TürkTraktör at a Glance
TürkTraktör at a Glance 3 The tractor The manufacturer in Turkey Annual production capacity of manufacturer company of together with Turkish automotive industry Ankara and Erenler Plants Uninterruptedly market of experience TürkTraktör; leader for The Pride of Turkey The product range and dealer net
Slide 4: TürkTraktör at a Glance
TürkTraktör at a Glance 4 TS ISO/IEC 27001 ISO 9001:2000 BS OHSAS 18001 Information Security Total Quality Occupational Health Management Management and Safety System Certificate System Certificate Management System Certificate Manufacturing at international ISO 14064 Greenhouse ISO 10002 standards
Slide 5: TürkTraktör at a Glance
TürkTraktör at a Glance 5 The design center and the production plant of New Holland TD range and Case IH JX series tractors in the world The manufacturing center of Utility Light series tractors and transmissions The manufacturing and engineering center of CNHI for TD driveline series The producer o
Slide 6: Wide Product Range – Tractor Series Sold to Local Market
Wide Product Range – Tractor Series Sold to Local Market 6 Puma / T7000 & AC T8 Magnum > 140 HP Puma 120-140 HP Maxxum / T6000 CVX TR6 T6 AC T5 Hi-Lo / T5 FARMALL U / Maxxum CVX 110 HP Electro- FARMALL U 105 HP Command PRO T5000 JXU 98 HP 95 HP TD DELTA T4 88 HP F/N/V TDD JX 80 HP 78 HP TD4B* 75 HP
Slide 7: Wide Product Range – Tractor Series Sold to Export Market
Wide Product Range – Tractor Series Sold to Export Market 7 115 HP 110 HP 105 HP Utility Utility 98 HP Medium Medium 95 HP 88 HP TDD JX 85 HP (HC*) (HC*) TDD JX 80 HP TDF Straddle Straddle 78 HP (Narrow Orchard) 75 HP 72 HP Utility Utility T3F Light Light 65 HP Utility Light TT (Compact 55 HP Orchar
Slide 8: Export Penetration
Export Penetration 8 Continuously increasing export penetration, Turkey’s tractor exporter. Tajikistan Kyrgyzstan Afghanistan Nepal Niger Laos Guinea Benin Cambodia Burkina Faso Bangladesh
Slide 9: Agenda
Agenda 9 TürkTraktör at a glance Global markets and TürkTraktör performance Local market and TürkTraktör performance Sales Financial results
Slide 10: World Tractor Market
World Tractor Market (Source : Systematics (thousand units)) 10 -7% -10% 53 59 15 27% 19 World’s growth 42 35 10 17 Turkey’s growth 65 56 17 14 93 80 23 24 TURKEY 54 174 159 48 Pakistan 69 229 236 68 Brazil Others 346 282 146 143 Europe North America China 612 587 186 134 India 2013 2014 2014/4 2015
Slide 11: Tractor Production in Turkey
Tractor Production in Turkey (Source: TARMAKBİR) 11 64.342 56.407 18.519 17.877 -5% 33.570 32.012 27.260 10.287 -10% 9.296 45.823 8.034 38.530 19.226 23.283 -2% 22.716 2013 2014 2013/6 2014/6 2015/6 TürkTraktör Others
Slide 12: Tractor Production in Turkey
Tractor Production in Turkey (Source: TARMAKBİR) 12 TürkTraktör 22.716 TürkTraktör alone covers 71% of total exportation from Turkey where 7.136 tractors exported. Others TürkTraktör 9.296 6.598 29% 92% TürkTraktör covers of the total production in Turkey where 32.012 tractors were manufactured in 2
Slide 13: Tractor Market in Turkey – Sales
Tractor Market in Turkey – Sales (Source: TURKSTAT Traffic Registration, 2015/5) 13 TürkTraktör maintains its leadership by having market share. 7.5 billion TL of 49,4% 49,7% 49,6% agricultural 48,4% 48,4% supports paid in the 7 months of 2015* 59.459 40,0% 52.286 High yield performance, slight decr
Slide 14: TürkTraktör Sales Performance - Tractor
TürkTraktör Sales Performance - Tractor 14 45.893 39.026 15.866 14.402 +5% 22.257 23.273 19.047 6.598 7.712 -14% 30.027 7.079 24.624 11.968 14.545 +15% 16.675 2013 2014 2013/6 2014/6 2015/6 Local Sales Export Sales
Slide 15: Construction Equipment Sector in Turkey
Construction Equipment Sector in Turkey (Source: İMDER – Monthly Market Data) 15 World’s biggest CE market Europe’s biggest CE market Increased by sector volume Manufacturers represent of total sector
Slide 16: Construction Equipment Sector in Turkey
Construction Equipment Sector in Turkey (Source: İMDER – Monthly Market Data) 16 10.983 9.397 5.256 4.917 6.486 +18% 5.302 3.255 4.481 2.186 +33% 2.897 5.727 4.480 3.231 2.295 +5% 2.405 2013 2014 2013/6 2014/6 2015/6 Heavy Line Compact Line
Slide 17: Combine Sales (units)
Combine Sales (units) 17 651 615 391 +38% 244 177 2013 2014 2013/6 2014/6 2015/6
Slide 18: Agenda
Agenda 18 TürkTraktör at a glance 2015/1H performance Global markets and TürkTraktör performance Local market and TürkTraktör performance Sales
Slide 19: Total Sales Revenue (mio TL)
Total Sales Revenue (mio TL) 19 2.723 2.175 934 690 +12% 1.491 1.331 1.103 -12% 413 467 1.790 321 1.485 782 863 +25% 1.078 2013 2014 2013/6 2014/6 2015/6 Local Export
Slide 20: Profitability (mio TL)
Profitability (mio TL) 20 2014 Year-End Gross Profit 489 mio TL 20,9% Gross Margin 18,0% 18,9% 180 17,6% 16,6% 17,2% 16,9% 20,0% 160 140 120 100 80 10,0% 130 151 60 125 114 121 117 40 20 - 0,0% 2014/3 2014/6 2014/9 2014/12 2015/3 2015/6 Gross profit Gross Margin 2014 Year-End 2014 Year-End 180 EBITD
Slide 21: Working Capital (mio TL)
Working Capital (mio TL) 21 2013 2014 2013/6 2014/6 2015/6 595 582 448 470 423 566 540 461 363 436 413 436 497 493 312 -306 -325 -449 -469 -451 Inventories Trade Receivables (net) Trade Payables (net)
Slide 22: Net Financial Position (mio TL)
Net Financial Position (mio TL) 22 2013 2014 2013/6 2014/6 2015/6 -389 -84 -139 -582 269 286 -536 209 201 -15 101 -217 -183 -269 -201 -334 -187 -442 -368 -581 Cash and Cash Equivalents ST Financial Liabilities LT Financial Liabilities
Slide 23: Net Financial Position (mio TL) / EBITDA
Net Financial Position (mio TL) / EBITDA 23 2013 2014 2013/6 2014/6 2015/6 - - -84 -100 -139 -0,2 -0,3 -0,4 -200 -0,4 -389 -0,6 -536 -582 -0,8 -300 -1,0 -400 -1,2 -1,2 -500 -1,4 -1,6 -600 -1,5 -1,8 -1,8 -700 -2,0 Net Financial Position NFP/EBITDA
Slide 24: Balance Sheet Ratios
Balance Sheet Ratios 24 2,81 1,93 1,81 1,74 1,79 1,58 1,39 1,20 1,16 0,97 2013 2014 2013/6 2014/6 2015/6 Current Ratio Quick Ratio
Slide 25: High Profitability Ratios
High Profitability Ratios 25 44% 43% 41% 39% 36% 21% 18% 18% 15% 12% 2013 2014 2013/6 2014/6 2015/6 RoA RoE
Slide 26: Dividend (mio TL)
Dividend (mio TL) 26 TürkTraktör which paid the total amount of dividend in 2015, is amongst the companies paid highest dividend in BIST. 350 107% 110% 300 90% 250 75% 77% 70% 200 50% 150 300 30% 100 200 200 50 10% 7% 10% 5% 0 -10% 2013 2014 2015 Dividend Yield Dividend /Net profit
Slide 27: Stock Performance (31.12.2012=100)
31.12.2012 16.02.2013 04.04.2013 21.05.2013 07.07.2013 23.08.2013 BİST 100 09.10.2013 25.11.2013 11.01.2014 29.07.2015 Closing Price 69,45 TL 31.12.2012 Closing Price 58,25 TL 27.02.2014 15.04.2014 01.06.2014 BİST 30 Stock Performance (31.12.2012=100) 18.07.2014 03.09.2014 20.10.2014 06.12.2014 22.0
Slide 28: Disclaimer
Disclaimer 28 This presentation contains forward-looking statements that reflect the Company management’s current views with respect to certain future events. Although it is believed that the expectations reflected in these statements are reasonable, they may be affected by a variety of variables an
Slide 29: Question & Answer
QUESTION & ANSWER
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