Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi · BIST:DOAS
Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi — Doğuş Otomotiv Servis ve Ticaret A.Ş. — FY2016 Earnings Presentation
20 slides from Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi's earnings presentation, Mar 1, 2017
Slide 1: 4Q 2016 Analyst Briefing Presentation
4Q 2016 ANALYST BRIEFING PRESENTATION Kerem Talih 1 March 2017
Slide 2: 2016 FY DOAS Developments (YoY)
2016 FY DOAS DEVELOPMENTS (YoY) Retail Market sales parallel to last year’s levels and DOAS sales increased by 3%. Revenue increased by 10%. EBITDA was realized in parallel to 2015 levels. Net Profit decreased by 21%. Net Profit of 2015 included the sales profit of Leaseplan and Krone. I
Slide 3: Wholesale Market and DOAS Market Share
WHOLESALE MARKET AND DOAS MARKET SHARE 10-year Light Vehicle Market 2
Slide 4: 2016 Doğuş Otomotiv Main Segment Sales Performance
2016 DOGUS OTOMOTIV MAIN SEGMENT SALES PERFORMANCE Retail RETAIL MARKET DOAŞ PERFORMANCE 3
Slide 5: Competition (Retail)
COMPETITON (Retail) 2014 / 2015 2015 / 2016 RETAIL MARKET 2014 2015 2016 VW ranked 2nd in cumulative ∆ ∆ passenger vehicle market with PASSENGER VEHICLE % 13,4% market share. DOGUS OTOMOTİV 22,2 23,1 23,0 0,9 -0,1 RENAULT 20,1 19,2 19,7 -0,9 0,5 Skoda increased its market OPEL 6,7 6,5 7,3 -0,2 0,9 s
Slide 6: 2016 Passenger Vehicle Market (%)
2016 PASSENGER VEHICLE MARKET (%) Retail - Passenger vehicle market increased by 4% yoy. - DOAS’ market share in the passenger vehicle market was realized as 23,0%. - Renault ranks second with 19,7% market share. - VW passenger vehicles has the highest sales portion in Doğuş Otomotiv and herein belo
Slide 7: 2016 Light Commercial Vehicle Market (%)
2016 LIGHT COMMERCIAL VEHICLE MARKET (%) Retail - Light commercial vehicle market decreased by 6% yoy. - DOAS performed better than the market and its market share increased from 13,1% to 14,5% yoy.* - The main competitors of DOAS in this segment are Ford Otosan with 30,1% and Tofaş with 23,7% marke
Slide 8: 2016 Doğuş Otomotiv Brand Sales Performance
2016 DOGUS OTOMOTIV BRAND SALES PERFORMANCE Wholesale WHOLESALE 2015 2016 Δ UNITS VW PV 106.677 104.410 -2% VW LCV 33.411 32.733 -2% AUDI 21.100 22.105 5% SKODA 22.435 30.004 34% SEAT 17.212 20.976 22% SCANIA 3.291 2.050 -38% KRONE* 158 2 -99% PORSCHE 877 881 0% MEILLER** 407 8 -98% BENTLEY 19 9 -53
Slide 9: Launches in 2017
LAUNCHES IN 2017 New: Cayenne, New: Arteon Panamera ST, and Golf Facelift: 911 GTS, 911 GT3 New: Q5, A5 SB and A8 Bentayga Diesel New: Ibiza and Arona Huracan Facelift: Leon Performante New: Kodiaq Facelift: New R-Series Octavia, Rapid, New S-Series Rapid Spaceback 8
Slide 10: Financial Performance
FINANCIAL PERFORMANCE
Slide 11: Financial Performance (mio TL)
FINANCIAL PERFORMANCE (mio TL) Net Sales EBITDA Net Profit -1% CapEx Total Assets Working Capital* *Cash and cash equivalents, trade receivables and invetory are included. 9
Slide 12: Margins (%)
MARGINS (%) Gross Profit Margin OpEx/Sales EBITDA Margin %8 Cons. Max 10 % Target EBIT Margin Net Profit Margin Wholesale Market Share* *PV, LCV and HCV sales are included. 10
Slide 13: Income Statement
INCOME STATEMENT Gross profit margin decreased by 0,5 pt to 9,7%. TL’000 2016 2015 Δ 2016/ 2015 Impacts on revenue and direct cost of revenue: Revenue 11.925.176 10.889.161 10% • Increased EUR/TL volatility. Direct cost of revenue -10.772.300 -9.780.598 10% • FOB prices increased in some PC models.
Slide 14: Equity Accounted Investees
EQUITY ACCOUNTED INVESTEES TL’000 2016 2015 Δ 2016/ 2015 Associates VDF* 40.669 -7.622 634% Doğuş Sigorta 1.554 1.875 -17% Yüce Auto 7.819 5.946 32% VDF Servis 14.693 12.265 20% TÜVTÜRK N&S 30.977 32.488 -5% (Consolidated) Krone-Doğuş** 0 0 0% Meiller-Doğuş*** 2.861 -1.689 269% Doğuş Teknoloji 276 1
Slide 15: Balance Sheet
BALANCE SHEET TL’000 31.12.2016 31.12.2015 Δ Inventories: Number of vehicles increased from 14.529 units to 20.217 units as of 31.12.2016. ASSETS 4.851.854 3.979.903 22% Cash and cash Financial Liabilities: equivalents 89.098 71.870 24% Cost of debt for the short term loans increased by 0,6 basis po
Slide 16: Financing Costs
FINANCING COSTS Million TL 2016 2015 Δ 2016/ 2015 Financing Costs -272,697 -171,488 59% Finance expenses, net -271,121 -167,891 61% Interest expense on borrowings -267,528 -163,705 63% Commission expenses on letters of guarantee -3,196 -3,019 6% Other financial expenses -0,397 -1,167 -66% Foreign Ex
Slide 17: Financial Performance
FINANCIAL PERFORMANCE Million TL 31.12.2016 31.12.2015 Δ Working capital 2.954 2.382 24% Net cash position -2.707 -1.902 -42% Receivable Turnover (day) 37 37 1% Inventory Turnover (day) 56 45 23% Payable Turnover (day) 26 19 37% Million TL 31.12.2016 31.12.2015 Δ CAPEX 208 169 23% ROA 4,9% 7,6% -35%
Slide 18: Major Public Material Disclosures in 2016
Major Public Material Disclosures in 2016 26.02.2016 – Directors and Officers (D&O) Liability Insurance: Company’s Board of Directors have been insured by Doğuş Holding A.Ş. in the scope of the “Directors and Officers Liability Insurance” with a collateral of 25 mio USD annually to cover claims resu
Slide 19: Thank You – Q & A
THANK YOU – Q & A
Slide 20: Disclaimer
Disclaimer Doğuş Otomotiv Servis ve Ticaret A.Ş. (the “DOAS”) has prepared this presentation documents (the “Document”) consisting of documents and appendixes thereto for the sole purposes of providing information and projections and statements relating to the DOAS (the “Information”). DOAS cannot g
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