Is Finansal Kiralama A.s. · BIST:ISFIN

Is Finansal Kiralama A.s — Investor Presentation (December 2009)

32 slides from Is Finansal Kiralama A.s's investor presentation, Dec 31, 2009

  1. Slide 1: Investor Presentation

    Investor Presentation DECEMBER 31, 2009

  2. Slide 2: Leasing Sector in Turkey

    LEASING SECTOR IN TURKEY

  3. Slide 3: Advantages of Leasing

    ADVANTAGES OF LEASING • Expertise on SMEs, consultancy and know-how support in addition to funding. • Fast credit approvals -leased asset ownership-, flexible payment plans. • FX borrowing option (Bank FX loans have some restrictions). 3

  4. Slide 4: Turnover

    TURNOVER %56 Leasing penetration is still at low levels 8203 compared to EU average of 15% and North America average of 18%. Million USD %24 -%35 Penetration * %47 5271 5301 12% 10% %34 4263 -%59 8% %63 6% 2900 %83 2165 2198 4% 2% 1327 727 0% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 *Leasin

  5. Slide 5: Market Shares

    MARKET SHARES New Leasing Volumes 2008 2009 İŞ FİNANS İŞ FİNANS AK 7,90% 6,86% 7,50% 7,02% 8,03% AK FORTIS 14,62% 7,72% GARANTİ GARANTİ 15,37% 15,24% DENİZ FORTIS (Dexia) 5,79% 10,94% YAPI KREDİ YAPI KREDİ 14,87% 16,15% OTHERS OTHERS 28,84% 33,15% Source: Fider 5

  6. Slide 6: First Quarters Compared

    FIRST QUARTERS COMPARED 2009 Q1 2010 Q1 İŞ FİNANS İŞ FİNANS 11,00% 11,66% 6,61% AK AK 9,09% 9,06% 11,66% FORTIS GARANTİ HALK GARANTİ 5,08% 9,78% 5,91% 20,64% DENİZ ŞEKER (Dexia) 6,44% 4,33% YAPI KREDİ YAPI KREDİ 10,52% 17,94% OTHERS OTHERS 29,50% 30,78% 563 417 Leasing volume increased %35 in 2010 Q

  7. Slide 7: Company Overview

    COMPANY OVERVIEW

  8. Slide 8: Participations

    PARTICIPATIONS Total Share Equity Participations Capital (TL) İş Leasing Share % İş Yatırım Menkul Değerler A.Ş. 119,387,000 2,904,000 2.43 Camiş Menkul Değerler A.Ş. 1,900,000 1,000 0.05 Subsidaires İş Factoring Finansman Hiz. A.Ş. 16,000,000 12,517,000 78.23 İş Yatırım (ISM EN) is a listed c ompan

  9. Slide 9: Organization Chart

    ORGANIZATION CHART INTERNAL AUDIT BOARD OF DIRECTORS GENERAL MANAGER AGM AGM AGM FINANCE MARKETING CREDIT ACCOUNTING OPERATIONS RISK MONITORING IT LEGAL DEPARTMENT HUMAN RESOURCES 10

  10. Slide 10: Lease Portfolio

    LEASE PORTFOLIO

  11. Slide 11: Turnover million USD

    TURNOVER million USD 448 445 53 61 359 349 21 305 35 52 183 395 384 174 12 338 136 314 27 26 253 67 171 146 29 110 38 2001 2002 2003 2004 2005 2006 2007 2008 2009 Non-group turnover İş Bank group turnover Total turnover 12

  12. Slide 12: Sales Channels

    SALES CHANNELS DIRECT SUPPLIER İŞ GROUP SALES 1,44% 7,74% 14,15% RECURR. İŞBANK CUSTOMER BRANCHES 37,27% 39,40% İşbank has 1078 branches in Turkey 13

  13. Slide 13: Customers

    CUSTOMERS Total number of customers in CRM No.of database: 43.754 Customers that have Outstanding Contract 4948 Customers that do not have outstanding 38% of the leasing contract receivables is generated 39975 by recurring customers. 14

  14. Slide 14: Sectoral Distribution

    SECTORAL DISTRIBUTION 2008 2009 METAL IND. TEXTILE METAL IND. TEXTILE 5,76% 8,01% FINANCE 5,64% 9,72% 5,42% FINANCE TRANSPORT TRANSPORT 13,50% 12,10% 8,15% PAPER IND. 5,76% TOURISM PAPER IND. MINING 3,14% TOURISM 1,97% 5,70% 4,35% GLASS MINING 2,60% 2,25% GLASS 2,58% CONSTRUCT CONSTRUCT 12,41% 10,08

  15. Slide 15: Equipment Distribution

    EQUIPMENT DISTRIBUTION 2008 2009 TOURISM OTHER PRINTING 2,97% 3,87% TOURISM OTHER PRINTING 2,86% 3,65% 3,62% MACHINERY 3,40% MEDICAL 22,67% MEDICAL MACHINERY 7,05% 6,19% 25,62% CONSTRUCTION CONSTRUCTION TEXTILE 13,21% 15,54% MACHINERY 6,26% TEXTILE OFFICE MACHINERY 5,24% 4,04% OFFICE 6,31% REAL ESTA

  16. Slide 16: Portfolio Development

    PORTFOLIO DEVELOPMENT 1.000 900 800 700 600 TOP 30 CUSTOMERS REMAINING 500 400 300 200 100 - 10000 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 8000 Outstanding Contracts 6000 4000 2000 0 17

  17. Slide 17: Geographical Distribution

    GEOGRAPHICAL DISTRIBUTION KÖRFEZ REG. OTHER 4% # 16% ANKARA OFFICES SALES 11% STAFF UŞAK 2% BURSA Head Office 4 4% Istanbul Europe 6 ANTEP REG. İZMİR 4% 4% Istanbul Asia 5 Ankara Rep. Office 5 ANTALYA 2% Antep ” 3 Bursa ” 2 İzmir ” 4 Antalya ” 4 TOTAL 33 İSTANBUL 53% 18

  18. Slide 18: Currency Distribution

    CURRENCY DISTRIBUTION TL 21,13% 2009 USD 34,91% EUR 43,96% TL 22,04% 2008 USD 37,13% EUR 40,83% TL 27,48% 2007 USD 32,85% EUR 39,67% 19

  19. Slide 19: Maturity Distribution

    MATURITY DISTRIBUTION average, months 2008 2009 24 LEASE PORTFOLIO 23 23 BORROWINGS 20 16 16 10 9 9 8 0 0 USD EUR TL USD EUR TL 20

  20. Slide 20: Collaterals

    COLLATERALS* Leased asset, since legally possessed by the lessor, is a collateral. Depending on the lessee’s credit ratings and second hand value of the leased asset, additional collaterals might be demanded. Mortgage Cash + LG + 25% Pledge + Buyback 7% prom. Note+ Personal Guarantee 68% *Group excl

  21. Slide 21: Financial Performance

    FINANCIAL PERFORMANCE

  22. Slide 22: Highlights

    HIGHLIGHTS Million TL 2007 2008 2009 ∆ Leasing Receivables 799 963 829 -14% Assets 1052 1236 1441 17% Borrowings 801 928 1008 9% Equity 215 285 405 42% Net Profit * 47 76 105 38% ROA (Avg)* 4.8% 6.7% 7.9% ROE (Avg) * 25.1% 30.5% 30.6% 23

  23. Slide 23: Balance Sheet (consolidated)

    BALANCE SHEET (consolidated) 000 TL 2007 2008 2009 2007 2008 2009 CURRENT ASSETS CURRENT LIABILITIES Cash and cash equivalents 164.008 165.411 363.754 Short-term borrowings 540.745 786.580 893.554 Trading Securities (net) 25 1.904 139 Trade payables 14.298 9.628 12.524 Leasing Receivables (net) 366.

  24. Slide 24: Income Statement (consolidated)

    INCOME STATEMENT (consolidated) 000 TL 2007 % 2008 % 2009 % Interest income 107,571 14.5 103,948 11.8 97,986 10.9 Interest Expense (47,206) (6.2) (63,131) (7.3) (50,739) (5.2) Foreign currency gains/(losses) (2,371) 4,077 1,666 57,994 7.8 44,894 5.1 48,913 5.5 Factoring Income 8,888 16,497 14,147 Ge

  25. Slide 25: Tax & Loss Reserve

    TAX & LOSS RESERVE Tax Reserve carried forward 310,795,156 Other Reserves 136,212,131 Total Reserve 447,007,287 000 TL 2009 Opening 34,993 Reversals (3,045) New provisions 17,886 Reserve transfers - Write-off (7,234) 2009 Closing 42,600 26

  26. Slide 26: NPL Ratios

    NPL RATIOS 2007 2008 2009 Gross NPL / Total Receivables % 7,8 % 7,0 % 10,8 Net NPL / Net Receivables % 4,0 % 4,3 % 6,9 27

  27. Slide 27: Currency Position

    CURRENCY POSITION TL 000 2008 2009 Cash & cash equivalents 122,628 91,891 Finance Lease Receivables 726,494 641,511 Financial Liabilities (872,287) (747,363) Forward Transactions 2,147 0 Others 18,698 18,149 Net position (2,320) 4,188 Net position / Equity 0.81% 1,04% 28

  28. Slide 28: Other Issues

    OTHER ISSUES

  29. Slide 29: Main Strategies

    MAIN STRATEGIES • Increasing business flow from İşbank branches. • Focusing on recurring customers under volatile market conditions. • Maintaning a diversified creditor portfolio and competitive funding in all currencies. • Strategic partnerships / vendor agreements especially important for operatin

  30. Slide 30: Relative Share Performance

    Relative Share Performance ISFIN vs. ISE 100 1,400 ISFIN ISE 100 1,200 1,000 0,800 0,600 0,400 0,200 - 2-Jan-08 2-Apr-08 2-Jul-08 2-Oct-08 2-Jan-09 2-Apr-09 2-Jul-09 2-Oct-09 31

  31. Slide 31: Ratings

    RATINGS Foreign Currency Long-Term IDR BBB- Short-Term IDR F3 Outlook Stable Local Currency Long-Term IDR BBB- Short-Term IDR F3 Outlook Stable National Long-Term Rating AAA (tur) Outlook Stable Support Rating 2 32

  32. Slide 32: Disclaimer

    DISCLAIMER The information in this document has been obtained by İş Finansal Kiralama A.Ş. (“İş Leasing”) from sources believed to be reliable, however, İş Leasing can not guarantee the accuracy, completeness, or correctness of such information. This document has been issued for information purposes

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