Bim Birlesik Magazalar A.s. · BIST:BIMAS

Bim Birlesik Magazalar A.s — Q3 2013 Earnings Presentation

17 slides from Bim Birlesik Magazalar A.s's earnings presentation, Sep 30, 2013

  1. Slide 1: For the 3 months to 30 September 2013

    BIM) For the 3 months to 30 September 2013

  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 Q3 2013

    HEADLINES FOR Q3 2013 Strong growth in third quarter continued: NET SALES at 3.087,5 Mio TL (21%+ on Q3 2012) EBITDA at 166,1 Mio TL (32%+ on Q3 2012) NET INCOME at 117,3 Mio TL (36%+ on Q3 2012) Like for Like sales up 11,7% Continued expansion – 63 net new stores in Turkey, 16 in Morocco and 3 in E

  4. Slide 4: Quarterly Net Sales and Gross Profit

    QUARTERLY NET SALES AND GROSS PROFIT TL Million 3500 Net Sales 700 Gross Profit 3000 600 3.087,5 2.795,5 2.833,6 2500 2.581,7 500 2.543,8 493,4 2000 434,4 442,0 400 402,8 408,1 1500 300 1000 200 500 100 0 0 3Q12 4Q12 1Q13 2Q13 3Q13 Gross Margin 15,8% 15,8% 15,5% 15,6% 16,0% 4

  5. Slide 5: Quarterly EBITDA and EBIT

    QUARTERLY EBITDA and EBIT 175 EBITDA EBIT 166,1 150 143,3 137,9 128,8 133,4 126,3 125 117,2 102,3 104,1 106,2 100 75 50 25 0 3Q12 4Q12 1Q13 2Q13 3Q13 EBITDA 5,0% 5,0% 5,1% 4,7% 5,4% EBIT 4,0% 4,0% 4,2% 3,7% 4,5% EBITDA – EARNINGS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTIZATION 5 EBIT – EARNINGS

  6. Slide 6: Quarterly Net Income

    QUARTERLY NET INCOME TL Million Net Income 120 117,3 97,2 92,7 90 86,5 85,0 60 30 0 3Q12 4Q13 1Q13 2Q13 3Q13 Net income 3,4% 3,3% 3,5% 3,3% 3,8% margin 6

  7. Slide 7: Like for Like Sales Increase YTD – September 2013

    LIKE FOR LIKE SALES INCREASE Quarterly YTD – September 2013 2012 Q3 2013 Q3 INCREASE 2012 - 2013 – INCREASE 9 Months 9 Months Like For Like Like For Like 2.228,9 2.490,4 11,7% Sales (Mil TL) 6.591,0 7.265,0 10,2% Sales (Mil TL) (**) Like For Like Like For Like 3,6% 10,95 11,69 6,8% 10,63 11,14 4,7%

  8. Slide 8: Private Label Sales Continue to Grow

    PRIVATE LABEL SALES CONTINUE TO GROW YTD 2012 YTD 2013 BRANDED BRANDED PRIVATE 21,6% 22,4% LABEL PRIVATE 65,7% LABEL 67,1% EXCLUSIVE EXCLUSIVE 6,6% 5,8% SPOT 5,5% SPOT 5,3% 8

  9. Slide 9: Low-Capex Business Model

    LOW-CAPEX BUSINESS MODEL TL Million % of Net Sales 75 Quarterly CAPEX 4% % of Net Sales 70,1 58,9 3% 54,5 56,7 50 45,0 2,5% 2% 2,1% 2,0% 1,9% 1,8% 25 1% 0 0% 3Q12 4Q12 1Q13 2Q13 3Q13 9

  10. Slide 10: Store Growth Continues

    STORE GROWTH CONTINUES Number of Stores 4000 Stores in Turkey 3.859 3.922 3.655 3.735 3500 3.584 3000 2500 2000 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 10

  11. Slide 11: BIM Morocco Update

    BIM MOROCCO UPDATE 30.9.2012 31.12.2012 31.3.2013 30.6.2013 30.9.2013 No. of Stores 103 110 120 134 150 40 new stores in YTD 2013 and we have 152 to date We have opened second region in South Casablanca in August to accelerate number of stores 11

  12. Slide 12: BIM Egypt Update

    BIM EGYPT UPDATE BIM Stores LLC in Egypt fully established First 14 stores opened in April To date we have 29 stores and plan by end of the year is to open a few more stores Turmoil is still on-going. 12

  13. Slide 13: 13

    13

  14. Slide 14: IFRS Financials

    IFRS FINANCIALS

  15. Slide 15: IFRS Income Statement

    IFRS INCOME STATEMENT 3 months ended 30 September YTD-9 months ended 30 Sept TL million 2012 2013 2012 2013 Net Sales 2.543,8 3.087,5 7.324,7 8.716,6 (COGS) (2.141,0) (2.594,1) (6.173,6) (7.346,8) Gross Profit 402,8 493,4 1.151,1 1.369,8 Total SG&A (276,5) (327,3) (788,7) (927,0) EBITDA 126,3 166,1

  16. Slide 16: IFRS Balance Sheet

    IFRS BALANCE SHEET As of 30 September TL million Q3 2012 Q3 2013 Intangible assets 2,9 3,3 Tangible assets 758,1 944,0 Other non-current assets 21,3 34,0 Total fixed assets 782,3 981,3 Trades receivable 290,7 322,6 Inventories 469,7 630,5 Prepayment and other assets 46,3 81,1 Trades payable (1.121,0

  17. Slide 17: IFRS Cash Flow

    IFRS CASH FLOW 3 months ended 30 September YTD – 9 months ended 30 Sept TL million 2012 2013 2012 2013 Net Income 86,5 117,3 246,6 307,2 D&A 24,0 28,2 68,9 81,5 Other non-cash items (11,6) (0,3) (12,0) (13,7) Funds from operations 98,9 145,2 303,5 375,0 Change in net working capital 79,9 61,9 15,1 1

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