Is Finansal Kiralama A.s. · BIST:ISFIN
Is Finansal Kiralama A.s — Investor Presentation (March 2018)
27 slides from Is Finansal Kiralama A.s's investor presentation, Mar 31, 2018
Slide 1: Investor Presentation 31 March 2018
Investor Presentation 1 INVESTOR PRESENTATION 31 MARCH 2018 İŞ LEASİNG March 2018 Investor Relations
Slide 2: Leasing Sector in Turkey
Leasing Sector in Turkey
Slide 3: Leasing advantages
Leasing Investor Presentation 3 Leasing advantages VAT is %1 for various types of machinery Expertise on SMEs, consultancy and know-how support in addition to funding FX borrowing option (for selective assets) Fast credit approvals (leased-asset ownership), flexible payment plans Sale-and-
Slide 4: Leasing Volume
Leasing Sector Investor Presentation 4 Leasing Volume Million USD 9,3% -16,7% 30,4% 7.637 1,0% -3,7% 6.990 9,6% 6.350 6.365 6.194 14% 28% 6.130 5.360 24% 18% 4.891 24% 1.469 17% 2011 2012 2013 2014 2015 2016 2017 2018/Q1 2018 T Leasing Sale & Lease Back Linear (sg %) İŞ LEASİNG March 2018 Investor R
Slide 5: Turkey Leasing Penetration
Leasing Sector Investor Presentation 5 Turkey Leasing Penetration Leasing penetration is still at low levels compared to EU average of 15% and North America average of 21,5%. 12% 10% 8% 6% 4% 2% 0% 2005 2007 2009 2011 2013 2015 2017 Penetration: Leasing volume/ Private sector fixed investments İŞ LE
Slide 6: Leasing Receivables
Leasing Sector Investor Presentation 6 Leasing Receivables TL FX 13.783 12.699 12.632 12.509 25% 10.895 28% 28% 25% 9.530 26% 23% 2012 2013 2014 2015 2016 2017 İŞ LEASİNG March 2018 Investor Relations
Slide 7: Customer Base
Leasing Sector Investor Presentation 7 Customer Base 70.000 12% 10,65% 10,85% 10,02% 60.000 9,04% 10% 8,7% 9,03% 8,19% 50.000 8,02% 8,18% 8% 40.000 6% 30.000 4% 20.000 2% 10.000 - 0% 2010 2011 2012 2013 2014 2015 2016 2017 2018/Q1 Sektör İş Leasing Payı 2018/Q1 vs. 2017 Customer growth Customers Δ C
Slide 8: Company Overview
Company Overview
Slide 9: Milestones & Shareholders
History Investor Presentation 9 Milestones & Shareholders 2011 1985 1995 First corporate Leasing Law İş Bank group took bond issuer in Enacted over leasing sector 1988 2000 Established by İş Listed in İstanbul Stock Bank, Soc Gen and Exchange (ISFIN)) IFC Free Float 39,9% İş Free Float : % 42,7 Bank
Slide 10: Organization Chart
Company Investor Presentation 10 ORGANIZATION CHART İŞ LEASİNG March 2018 Investor Relations
Slide 11: Branch Network
Company Investor Presentation 11 BRANCH NETWORK Avcılar Şişli Kartal Kozyatağı Trabzon Ostim Bursa Ankara Kayseri Diyarbakır İzmir Konya Gaziantep Antalya Adana 15 Branches 51 Sales staff 153 Total staff İŞ LEASİNG March 2018 Investor Relations
Slide 12: Lease Portfolio
Lease Portfolio
Slide 13: Sales Channels
Lease portfolio Investor Presentation 13 SALES CHANNELS 2017 2018/Q1 İŞ BANK DIRECT MARKETING VENDORS İŞ BANK DIRECT MARKETING VENDORS 16% 16% 64% İşbank: 1342 local and 22 64% 20% foreign branches, largest 20% network among private banks. İŞ LEASİNG March 2018 Investor Relations
Slide 14: Sectoral Distribution, %
Lease portfolio Investor Presentation 14 SECTORAL DISTRIBUTION, % 35,8 35,3 2017 2018/Q1 25,8 24,4 10,6 9,9 10,4 9,5 7,3 7,1 4,8 4,2 4,7 3,8 3,3 3,0 CONSTRUCT METAL IND. TEXTILE TRANSPORT RETAIL MINING FINANCE OTHER İŞ LEASİNG March 2018 Investor Relations
Slide 15: Asset Distribution, %
Lease portfolio Investor Presentation 15 ASSET DISTRIBUTION, % 34,0 2017 2018/Q1 33,0 22,6 20,4 20,5 20,5 17,4 14,6 4,0 4,7 4,2 4,0 REAL ESTATE MACHINERY CONSTRUCTION MACH. TEXTILE TRANSPORTATION OTHER İŞ LEASİNG March 2018 Investor Relations
Slide 16: Geographical Distribution, %
Lease portfolio Investor Presentation 16 GEOGRAPHICAL DISTRIBUTION, % DİĞER; 23,08 İSTANBUL; 44,41 KONYA; 2,83 BURSA; 3,99 GAZİANTEP; 4,74 İZMİR; 4,75 ANKARA; 16,20 İŞ LEASİNG March 2018 Investor Relations
Slide 17: Maturity Distribution, % average, months
Leasing - Borrowing Investor Presentation 17 MATURITY DISTRIBUTION, % 2017 2018 Q1 LEASING BORROWINGS LEASING BORROWINGS 23 24 17 18 17 18 18 18 11 9 9 8 USD EUR TL USD EUR TL average, months *TL funded by equity is included in the calculation. İŞ LEASİNG March 2018 Investor Relations
Slide 18: Currency Distribution, %
Lease portfolio Investor Presentation 18 CURRENCY DISTRIBUTION, % TL TL TL 35% 39% 36% USD USD USD 25% 18% 20% EUR EUR EUR 40% 41% 46% 2016 2017 2018/Q1 İŞ LEASİNG March 2018 Investor Relations
Slide 19: Leverage
Borrowing Investor Presentation 19 LEVERAGE Leverage(solo) TRY Receivables Equity TL Debt TL Portfolio 5,0 5,1 4,7 4,3 1.804 3,9 1.759 1.477 3,1 1.188 972 919 938 722 496 346 692 755 840 866 626 2013 2014 2015 2016 2017 2018/Q1 2014 2015 2016 2017 2018/Q1 Increased leverage by gaining market share İ
Slide 20: Funding Policy
Borrowing Investor Presentation 20 FUNDING POLICY • Strong relations with international and local banks. o Closed a club loan transaction of 80 million US$ in 2018. o Bilateral loans (all unsecured) • First TL corporate bond issuer in leasing sector, outstanding nominal balance 1.4 billion TL, matur
Slide 21: Financial Performance
Financial Performance
Slide 22: Financial Highlights
Financial Perfomance Investor Presentation 22 FINANCIAL HIGHLIGHTS TL Million, consolidated 2015 2016 2017 2018/Q1 Δ Leasing Receivables, Net 3.287 4.001 4.701 5.007 6,5% Factoring Receivables, Net 1.951 2.986 4.207 3.955 -6,0% Non Performing Receivables 183 231 266 280 5,0% Provisions 140 150 180 1
Slide 23: Solo Key Figures
Financial Perfomance Investor Presentation 23 SOLO KEY FIGURES (Million TL) 2015 2016 2017 2018/Q1 Δ 2015 2016 2017 2018/Q1 Δ Financial Highlights İş Sector Leasing Receivables 3.249 3.921 4.617 4.914 6% 36.728 44.022 51.990 54.547 5% Total Assets 3.656 4.508 5.069 5.556 10% 40.655 48.500 58.053 61.
Slide 24: NPL
Financial Perfomance Investor Presentation 24 NPL 250.000 7,99% 6,95% 6,70% 200.000 6,03% 6,26% 7,00% 5,55% 5,51% 150.000 151-240 4,80% 4,65% 4,63% 241-360 4,60% 4,60% 4,31% 100.000 >360 50.000 Total 0 2012 2013 2014 2015 2016 2017 2018/Q1 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-
Slide 25: Collaterals
Financial Perfomance Investor Presentation 25 COLLATERALS Leased assets are legally possessed by the lessor so they are the collateral of the leasing loan. Depending on the lessee’s credit ratings and second hand value of the leased asset, additional collaterals might be demanded. Cash + LG + Mortga
Slide 26: Rating
Financial Perfomance Investor Presentation 26 RATING Foreign Currency Long-Term IDR BB+ Short-Term IDR B Outlook Stable Local Currency Long-Term IDR BB+ Short-Term IDR B Outlook Stable National Long-Term Rating AA + (tur) Outlook Stable Support Rating 3 Corporate Governance Rating (Saha-2016) : 9.17
Slide 27: Disclaimer
Investor Presentation 27 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
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