Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi · BIST:DOAS
Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi — Doğuş Otomotiv Servis ve Ticaret A.Ş. — Q1 2024 Earnings Presentation
26 slides from Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi's earnings presentation, Jun 4, 2024
Slide 1: 1Q 2024 Analyst Briefing Presentation
1Q 2024 ANALYST BRIEFING PRESENTATION Kerem Talih 4 JUNE 2024 TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third part
Slide 2: What Is New?
WHAT IS NEW? Doğuş Marine Services (Doğuş Denizcilik Hizmetleri), which commenced operations as DMS Göcek in Göcek-Fethiye, DMS Muğla, on January 1, 2021, will expand its service area and Turgutreis inaugurate its third activity unit, "DMS Turgutreis", as part of our company's brand value chain, sch
Slide 3: Key Takeaways
KEY TAKEAWAYS 6% (YoY) +49% (YoY) +6% (YoY) 38,954 8,716 2,350,266 Total sales1 Commercial Vehicle Vehicle Park1 (Including Skoda, wholesale) Sales1 (Excluding Skoda) (Wholesale, LCV+HCV) -48% (YoY) -79% (YoY) -52% (YoY) 2,995 346 13.84 Income From Earnings Per Share1 Net Profit1 (Million TL) Associ
Slide 4: Jan-March 2024 Dogus Otomotiv Main Segment Sales (Retail)
JAN - MARCH 2024 DOGUS OTOMOTIV MAIN SEGMENT SALES (Retail) 360.000 270.000 180.000 90.000 RETAIL MARKET 0 Retail PV Premium LCV HCV March 23 244.854 175.421 16.616 60.550 8.883 March 24 304.286 233.389 19.607 62.130 8.767 ∆ 24% 33% 18% 3% -1% 40.000 30.000 20.000 DOAS 10.000 PERFORMANCE 0 Sales PV
Slide 5: Competition (Retail - March)
COMPETITION (Retail - March) RETAIL MARKET 2022 2023 YTD March YTD March 23 Yearend/ March 2023 2024 March 24 2023/2024 VW PC ranked 8th in the ∆ ∆ cumulative passenger vehicle market with 5.3% market share. PASSENGER CAR % TOFAŞ/STELLANTIS RENAULT GROUP 30,1 22,5 31,0 18,6 37,9 17,6 27,0 20,5 -4,1
Slide 6: Jan-March 2024 Passenger Vehicle Market (%) (Retail)
JAN - MARCH 2024 PASSENGER VEHICLE MARKET (%) (Retail) 40,0 37,9 PC market increased by 33% 35,0 32,7 yoy. 30,0 27,0 26,5 25,0 20,5 20,0 17,6 17,6 DOAS shares a 13.2% market 15,0 13,2 share at 3rd place. 10,0 6,6 5,0 0,4 The strongest competitors of 0,0 DOAS in this segment are Tofas/Stellantis with
Slide 7: Jan-March 2024 Light Commercial Vehicle Market (%) (Retail)
JAN - MARCH 2024 LIGHT COMMERCIAL VEHICLE MARKET (%) (Retail) 50,0 44,6 45,5 Light Commerical Vehicle 45,0 market increased by 3% yoy. 40,0 35,0 29,4 30,0 25,0 21,6 DOAS shares a 10.1% market 20,0 16,3 share at 3rd place. 15,0 12,1 10,1 10,0 8,3 5,6 6,5 5,0 The strongest competitors of 0,0 DOAS in t
Slide 8: Jan-March 2024 Doğuş Otomotiv Brand Sales Performance
JAN - MARCH 2024 DOĞUŞ OTOMOTIV BRAND SALES PERFORMANCE WHOLESALE UNITS 3M23 3M24 Δ DOAS TOTAL 36.746 38.954 6% VW PC SKODA VW LCV AUDI SEAT -1% -10% +58% -14% +31% 11.872 11.771 10.282 9.277 7.965 5.034 4.318 2.493 1.899 5.038 3M23 3M24 3M23 3M24 3M23 3M24 3M23 3M24 3M23 3M24 CUPRA SCANIA PORSCHE B
Slide 9: Jan-April 2024 Dogus Otomotiv Main Segment Sales (Retail)
JAN - APRIL 2024 DOGUS OTOMOTIV MAIN SEGMENT SALES (Retail) 400.000 320.000 240.000 160.000 RETAIL MARKET 80.000 0 Retail PV Premium LCV HCV April 23 345.881 252.819 25.066 80.831 12.231 April 24 382.674 294.837 25.189 76.601 11.236 ∆ 11% 17% 0% -5% -8% 60.000 45.000 30.000 DOAS 15.000 PERFORMANCE 0
Slide 10: Jan-April 2024 Doğuş Otomotiv Brand Sales Performance
JAN - APRIL 2024 DOĞUŞ OTOMOTİV BRAND SALES PERFORMANCE WHOLESALE UNITS 4M 2023 4M 2024 Δ DOAS TOTAL 51.679 51.558 -0.2% VW PC SKODA VW LCV AUDI SEAT -4% -10% +53% -26% +9% 18.824 17.986 13.130 9.338 11.755 7.118 5.255 3.045 6.091 2.797 4M 2023 4M 2024 4M 2023 4M 2024 4M 2023 4M 2024 4M 2023 4M 2024
Slide 11: Competition (Retail - April)
COMPETITION (Retail - April) RETAIL MARKET 2022 2023 YTD YTD 23 Year - End/ April 23/ April 2023 April 2024 April 24 April 24 ∆ ∆ PASSENGER CAR % TOFAŞ/STELLANTIS 30,1 31,0 36,2 26,7 -4,3 -9,5 RENAULT GROUP 22,5 18,6 19,1 19,5 0,9 0,4 DOGUS OTOMOTİV 15,8 15,6 17,4 13,6 -2,0 -3,8 CHERY 0,0 4,2 0,8 7,
Slide 12: Financial Performance
FINANCIAL PERFORMANCE TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third parties. New Tiguan
Slide 13: Financial Performance (mn TL)
FINANCIAL PERFORMANCE (mn TL) Revenue 1 EBITDA 1 Net Profit 1 149.245 27.847 19.762 %2 %-29 %-48 33.548 34.120 6.627 5.727 4.721 2.995 2023 3M2023 3M2024 2023 3M2023 3M2024 2023 3M2023 3M2024 CapEx1,2 Total Assets Working Capital3 37.752 1.889 %5 %5 81.969 %23 35.868 78.090 372 456 2023 3M2023 3M202
Slide 14: Margins %
MARGINS % Gross Profit Margin OpEx/Sales EBITDA Margin 21,5% 22,6% 5,2% 18,7% 19,8% 17,8% 3,7% 3,8% 13,8% 2023 3M2023 3M2024 2023 3M2023 3M2024 2023 3M2023 3M2024 EBIT Margin Net Profit Margin Wholesale Market Sales1 17,8% 18,8% 17,1% 138.303 13,2% 12,6% 8,8% 29.677 26.464 2023 3M2023 3M2024 2023 3M
Slide 15: Income Statement
INCOME STATEMENT TL’000 31.03.2024 31.03.2023 Δ Wholesale Sales Volume (excl. Skoda, 29.677 26.464 12% incl. Scania) Revenue 34.120.104 33.548.391 2% Direct cost of revenue -28.041.919 -25.966.025 8% Gross profit 6.078.185 7.582.366 -20% Gross profit margin 17,8% 22,6% Total Operational Expenses -1.
Slide 16: Income/Loss from Associates
INCOME/LOSS FROM ASSOCIATES TL’000 31.03.2024 31.03.2023 Δ Associates Yüce Auto (Škoda) 193.930 886.690 -78% TÜVTÜRK N&S (Consolidated) 171.257 378.190 -55% Doğuş Teknoloji 18.208 17.198 6% Doğuş Sigorta 5.993 10.332 -42% VDF Servis -43.487 378.572 -111% Total 345.901 1.670.982 -79% 16/26 TR : Kurum
Slide 17: Balance Sheet
BALANCE SHEET TL’000 31.03.2024 31.12.2023 Δ Inventories: Number of vehicles increased ASSETS 81.968.900 78.090.073 5% from 11,683 units on 31.12.2023 to 15,285 units on 31.03.2024. Cash and cash equivalents 13.161.754 8.795.012 50% Trade receivables 9.717.449 14.819.434 -34% TL'000 31.03.2024 31.12
Slide 18: Financing Costs
FINANCING COSTS TL’000 31.03.2024 31.03.2023 Δ Financing Cost, net 404.146 613.419 -34% Finance Expenses 1.077.647 781.803 38% Interest Expense on Borrowings 425.234 328.028 30% Commission Expenses on Letters of Guarantee 63.939 44.983 42% Foreign Exchange Losses on Borrowings 531.020 365.414 45% In
Slide 19: Financial Performance
FINANCIAL PERFORMANCE Million TL 31.03.2024 31.12.2023 Δ Working capital 37.752 35.868 5% Net Cash Position 1 2.386 -2.722 -188% Receivable Turnover (day) 26 40 -36% Inventory Turnover (day) 48 43 12% Payable Turnover (day) 40 34 17% 1 Net Cash Position = Cash and Cash Equivalents - Bank Borrowings
Slide 20: Doğuş Otomotiv Sustainability Management Approach
Doğuş Otomotiv Sustainability Management Approach ✓ We adopt a systematic approach to sustainability management aimed at understanding and proactively mitigating risks associated with our activities. ✓ The decisions we make about our business include carefully calculated risks and sensitive manageme
Slide 21: Environmental, Social and Governance Highlights
• VW AG @Retail Pilot •Inclusion in the BIST • Being The First Country Program Sustainability 25 Index Company in Turkey to Declare Its Human • Creation of the D-Charge Rights Priorities •Ranked 4th Among 295 Brand for the Companies Worldwide in Establishment and the Retail Sector (Based Operation o
Slide 22: 12 Years of Consistently Increasing Remarkable Performance
Corporate Governance Principles Compliance Rating 12 Years of Consistently Increasing Remarkable Performance Corporate Governance Principles Compliance Rating Score 9.65 9.67 9.70 9.74 9.76 9.63 9.64 9.42 9.51 9.25 9.05 8.53 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 The 2nd Company
Slide 23: Corporate Sustainability Rating
Corporate Sustainability Rating Breakdown of Corporate Corporate Sustainability Rating Score* Sustainability Rating Score 86,55 84,56 83,60 72,75 80,28 74,70 Governance Yönetişim 79,87 63,66 39,66 66,54 94,53 94,88 Social Sosyal 94,85 2020 2021 2022 2023 20.05.2024 95,02 92,00 Breakdown of Rating Me
Slide 24: 2024 Expectations
2024 EXPECTATIONS Sustainability and Mobility Digitalization Climate Change Priorities Operational Efficiency and Optimum Service Areas Profitability Cautious Expenditure Management OEM Strategy: Maintain represented brands’ competitive position. Total Automotive Market Investment Expenditure (PC+LC
Slide 25: Thank You – Q & A
THANK YOU – Q & A TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third parties. Scania SUPER
Slide 26: TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak
TR : Kurumsal bilgiler içermektedir. Sadece ilgili ekipler ve 3. taraflar ile kontrollü olarak paylaşılmalıdır. // EN : Contains corporate information. It should only be shared in a controlled manner with the relevant teams and third parties.
Doğuş Otomotiv Servis ve Ticaret A.Ş. — Q1 2024 Earnings Presentation on 6ix