Is Yatirim Menkul Degerler As · BIST:ISMEN
Is Yatirim Menkul Degerler As — FY2019 Earnings Presentation
21 slides from Is Yatirim Menkul Degerler As's earnings presentation, Feb 3, 2020
Slide 1: Performance & Financial Results – FY19
PERFORMANCE & FINANCIAL RESULTS – FY19 February 3, 2020 Investor Relations
Slide 2: Agenda
1 Performance & Financial About Us Results – FY19 Operational Performance Financial Results Investor Relations
Slide 3: About Us
About Us 2 Shareholder Structure Business Lines • Brokerage & Trading • Investment Advisory Isbank & Isbank Free Float • Asset Management 28,7% Group Companies • Corporate Finance %71,3 • Research Ratings Subsidiaries IS Private Equity: (Share: 29.1%) (Ticker: ISGSY:TI) One of Turkey’s largest Priva
Slide 4: Agenda
3 Performance & Financial About Us Results – FY19 Operational Performance Financial Results Investor Relations
Slide 5: Operational Performance Equities
Operational Performance Equities 4 Equity Market - Borsa Istanbul IS Investment 4.260 3.987 180 9,0% Trading Volume (TL Billion) 347 8,1% 160 8,0% 7,9% 309 7,8% 7,9% 140 7,4% 7,0% 2.936 120 232 6,0% 2.052 2.027 100 5,0% 80 151 160 4,0% 60 3,0% 40 2,0% 20 1,0% 0 0,0% '15 '16 '17 '18 '19 '15 '16 '17 '
Slide 6: Operational Performance Derivatives
Operational Performance Derivatives 5 Turkish Derivatives Market (VIOP) IS Investment 350 14,8% 16,0% Trading Volume (TL Billion)) 2.872 14,0% 300 12,2% 2.520 11,4% 12,0% 250 10,8% 8,8% 10,0% 1.660 200 8,0% 150 308 311 1.135 1.161 6,0% 245 100 4,0% 132 50 100 2,0% 0 0,0% '15 '16 '17 '18 '19 '15 '16
Slide 7: Operational Performance Primary Market – Debt Securities
Operational Performance Primary Market – Debt Securities 6 Debt securities issuances - Market IS Investment 22 Issuance Size Number of Issuances 21,3 160 250 1.600 Billion TL Issuance Size Number of Issuances Billion TL 21 20,7 140 206,1 1.400 136 1.383 21 200 179,0 1.330 120 1.200 1.211 116 20 112
Slide 8: Equity Margin Trading – M&A Transactions
Operational Performance Equity Margin trading – M&A Transactions 7 Equity Margin Trading - IS Investment M&A Transactions - IS Investment Target firm Seller Buyer Our role as 500 an advisor 450 400 Şafak Elektrik A.Ş. Groupe Sell-side 350 Sicame 300 Siak İnş.Malz. San. Buy-side 250 442 ve Tic. A.Ş.,
Slide 9: Operational Performance Assets under Management
Operational Performance Assets under Management 8 AuM - The market AuM - IS Investment Market Shares Mutual Funds (TL bn) Mutual Funds (TL bn) Pension Funds (TL bn) 17.1% Pension Funds (TL bn) Other Funds* (TL bn) 19,4 113,4 9,4 17.4% 11,7 46,5 11,3 22,2 55,7 48,5 8,7 14,6 15,7 37,7 127,6 11,2 76,8
Slide 10: Agenda
9 Performance & Financial About Us Results – FY19 Operational Performance Financial Results Investor Relations
Slide 11: Consolidation Effect
Financial Results Consolidation Effect 10 Consolidated Net Profit = [IS Investment Non-consolidated Net Profit + Contributions from Subsidiaries] – Elimination Adjustments Net Profit (TL mn) 2018 2019 y/y (%) IS Investment Non-consolidated Net Profit IS Investment Only 226,4 379,4 67.6 Maxis Investm
Slide 12: Main Consolidated Financial Figures
Financial Results Main Consolidated Financial Figures 11 IS Investment - Consolidated 2018 2019 y/y (%) (TL000) Total Assets 6,370,682 6,717,106 5,4 Shareholders' Equity 805,285 1,106,992 37.4 Net Profit 221,701 382,874 72.7 Mn TL 9.000 44% 40,0% 8.000 7.673 40% 36% 7.000 6.518 6.371 6.717 5.783 32%
Slide 13: Breakdown of Operating Revenues
Financial Results Breakdown of Operating Revenues 12 Breakdown of Revenues 2018 2019 y/y (%) (TL 000) Interest and Trading* 469,015 737,342 57.2 Commission 258,202 300,487 16.3 Total Operating Revenues 727,217 1,037,829 42.7 * Include private equity, investment trust, npl management and leveraged fx
Slide 14: Breakdown of Commissions
Financial Results Breakdown of Commissions 13 Commission Income 2018 2019 y/y (%) (TL 000) Brokerage 166,920 195,410 17,1 Corporate Finance 32,821 20,475 (37,6) Asset Management 54,595 78,113 43,1 Other 3,866 6,489 67,8 Total Commission Income 258,202 300,487 16,4 Commission Revenues – 2018 Commissi
Slide 15: Breakdown of Operating Expenses
Financial Results Breakdown of Operating Expenses 14 Operating Expenses 2018 2019 y/y (%) (TL 000) Marketing, Sales and Distribution (102,517) (114,052) 11,2 General Administrative (262,777) (306,457) 16,6 Other (7,165) (1,933) (73,0) Total Operating Expenses (372,459) (422,442) 14,1 Operating Expen
Slide 16: Dividend
Financial Results Dividend 15 Cash Dividend & Payout Ratio - ISMEN Dividend Yield - ISMEN Mn TL 94,5% 90,7% 120 14% 12,9% 77,5% 96,0% 88,0% 12% 100 10,6% 74,0% 80,0% 10,3% 72,0% 9,6% 9,5% 80 10% 64,0% 56,0% 60 8% 110,0 42,7% 48,0% 40,0% 90,0 6% 40 32,0% 24,0% 47,0 45,0 4% 20 36,0 16,0% 8,0% 2% 0 0,0
Slide 17: Price Performance & Daily Trading Volume
Financial Results Price Performance & Daily Trading Volume 16 Price Performance - ISMEN Daily Trading Volume - ISMEN 210 1.800 18.000.000,00 Relative to Market Cap. 200 BIST-100 (mnTL) 16.000.000,00 190 1.600 14.000.000,00 180 ISMEN - BIST 100 Relative Perf. 170 1.400 12.000.000,00 100 Base 160 10.0
Slide 18: ISMEN vs Brokerage Sector
Financial Results– ISMEN vs Brokerage Sector 17 ROAE (ISMEN vs Brokerage Sector) Cost/Income Ratio (ISMEN vs Brokerage Sector) 50% 77% 77% 45% 75% 45% 75% 40% 65% 34% 65% 35% 67% 30% 57% 54% 30% 55% 25% 19% 22% 25% 18% 45% 49% 20% 15% 11% 12% 42% 35% 10% 32% 11% Sektör İş Yatırım Sektör İş Yatırım 5
Slide 19: Investor Relations
Investor Relations 18 Kenan Ayvacı Deputy CEO Phone : +90 0212 350 25 00 Fax : +90 0212 350 20 01 E-mail : kayvaci@isinvestment.com The Investor Relations Department is responsible for the Ozan Altan timely communication of necessary, accurate, complete, Manager, Head of IR comprehensible and easily
Slide 20: Disclaimer
Disclaimer 19 The information in this report is prepared by “IS YATIRIM MENKUL DEGERLER A.S.” (IS Investment) and it is not to be construed as an offer or solicitation for the purchase or sale of any financial instrument or the provision of an offer to provide investment services. Information, opini
Slide 21: Performance & Financial Results – FY19
PERFORMANCE & FINANCIAL RESULTS – FY19 February 3, 2020 Investor Relations
Is Yatirim Menkul Degerler A.S. — FY2019 Earnings Presentation on 6ix