Is Finansal Kiralama A.s. · BIST:ISFIN
Is Finansal Kiralama A.s — Investor Presentation (March 2016)
25 slides from Is Finansal Kiralama A.s's investor presentation, Mar 31, 2016
Slide 1: Investor Presentation
Investor Presentation 31 MARCH 2016
Slide 2: Leasing Sector in Turkey
iS LEASING Leasing Sector in Turkey
Slide 3: Leasing
LEASING VAT is %1 for various types of machinery. Operating Leases and Sale-and-lease back has been added to core product Finance Leases since 2013. Sale-and-lease back demand is strong and supporting business volumes. Expertise on SMEs, consultancy and know-how support in addition to funding.
Slide 4: Turnover
TURNOVER Leasing penetration is still at low levels compared to EU average of 15% and North New Leasing volume of the sector America average of 18%. Penetration * Million USD 8203 7637 6990 6365 5271 5301 5360 4891 4263 3182 2900 2165 2198 1327 1339 *Leasing volume/ Private sector fixed investments
Slide 5: Company Overview
is LEASING Company Overview
Slide 6: Milestones & Ownership
MILESTONES & OWNERSHIP • Financial leasing law enacted in 1985. • İş Leasing established in 1988 by NEMTAŞ CAMİŞ 0,07% İş Bank, IFC and Societe 0,83% Generale. İŞ BANK FREE 27,79% • IFC and SocGen transferred FLOAT 42,67% leasing know-how and expertise, İş Bank branches provided access to the market
Slide 7: Participations
PARTICIPATIONS Ownership Rate Equity Participations (%) Efes Varlık Yönetimi A.Ş 10.00 İş Yatırım Menkul Değerler A.Ş. (IS Invest) 4.86 İş Net 1.00 İş Girişim Sermayesi Y.O A.Ş. 0.89 Yatirim Finansman A.Ş. 0.06 Ownership Rate Subsidiaries (%) İş Factoring Finansman Hiz. A.Ş. 78.23 7
Slide 8: Organization Chart
is easine [J “y if os | H , re. a a EAL ae | | ORGANIZATION CHART BOD Internal Audit! and Risk Investor Relations Management Treasury and Financial Credit 1&2 Institutions Risk Financial Monitoring Management HR& Administration Legal Affairs
Slide 9: Lease Portfolio
iS LEASING Lease Portfolio
Slide 10: Turnover & Market Share
TURNOVER & MARKET SHARE 728 9,5 9,0 519 8,1 8,2 489 398 7,0 286 294 6,1 5,5 81 2010 2011 2012 2013 2014 2015 2016 Q1 2010 2011 2012 2013 2014 2015 2016 Q1 Million USD Percentage 10
Slide 11: Sales Channels
SALES CHANNELS SALES TEAM 20% VENDORS 7% İŞBANK BRANCHES 73% 1,355 local and 23 foreign branches, largest network among private banks 11
Slide 12: Sectoral Distribution, %
SECTORAL DISTRIBUTION , % 21,9 21,9 2015 2016 Q1 16,2 15,9 10,7 10,4 9,1 8,9 6,9 7,2 5,5 4,4 4,3 5,1 4,1 4,2 3,8 3,8 3,5 4,4 3,2 2,8 2,8 3,1 3,0 3,4 3,6 2,7 1,7 1,6 12
Slide 13: Asset Distribution, %
ASSET DISTRIBUTION , % 36,0 2015 2016 Q1 34,8 26,2 26,3 14,8 15,2 6,1 5,9 4,4 4,6 3,8 4,0 1,8 1,9 2,4 2,5 2,1 2,5 1,2 1,1 1,2 1,3 13
Slide 14: Geographical Distribution
GEOGRAPHICAL DISTRIBUTION MARKETING & BRANCHES SALES STAFF KOCAELİ OTHER 3% ANKARA Head Office 3 18% 12% Istanbul (A) - Kozyatağı & Gebze 8 KAYSERİ BURSA Istanbul (E) - Şişli & Avcılar 8 2% 3% Ankara & Central Anatolia 6 KONYA İZMİR 2% 4% Çukurova 3 ANTALYA South Anatolia 4 ANTEP REG. 2% Marmara 3 1
Slide 15: Currency Distribution
CURRENCY DISTRIBUTION TL 37% 2016 Q1 USD 30% EUR 33% TL 36% 2015 USD 32% EUR 33% TL 34% 2014 USD 35% EUR 31% 15
Slide 16: Maturity Distribution
MATURITY DISTRIBUTION 2015 2016 Q1 LEASES LEASES BORROWINGS BORROWINGS 27 27 26 26 23 22 19 19 10 8 3* 2* USD EUR TRY USD EUR TRY average, months *TRY, funded by Shareholders’ equity is not included in the calculation. 16
Slide 17: Funding Policy
FUNDING POLICY 11% of debt portfolio is funded via İşbank. İşbank has available lines to fund İş Leasing whenever necessary. Outstanding local bond issuances are 675 million TRY (nominal value). Maturities are from 6 months to 24 months. Bilateral lines from local and multinational banks, IF
Slide 18: Financial Performance
Financial Performance
Slide 19: Financial Highlights
FINANCIAL HIGHLIGHTS 31 December 31 December 31 March TRY Million, consolidated 2014 2015 2016 Leasing Receivables, Net 2,841 3,287 3,189 Factoring Receivables, Net 1,433 1,951 1,551 Non Performing Receivables 160 183 188 Provisions 104 140 142 Total Assets 4,580 5,581 4,978 Financial Liabilities 3,
Slide 20: Balance Sheet (consolidated)
BALANCE SHEET (consolidated) mio TL Million TRY 31.12.2014 31.12.2015 31.03.2016 31.12.2014 31.12.2015 31.03.2016 Current Assets Current Liabilities Cash and Cash Equivalents 180.2 225.7 130.2 Short Term Liabilities 2292.0 3795.9 3222.6 Trading Securities(net) - - Trade Payables 38.5 49.8 34.5 Leasi
Slide 21: Income Statement (consolidated)
INCOME STATEMENT (consolidated) 000 TL Million TRY 31.12.2014 31.12.2015 31.03.2016 Interest Income 186,567 264,839 67,799 Interest Expense -200,485 -284,800 -72,117 Foreign Currency Gains/(Losses) 74,273 68,533 12,874 Total 60,355 48,572 8,556 Factoring Income 89,248 134,492 41,741 -40,340 -46,916
Slide 22: NPL
NPL Consolidated 31.12.2013 31.12.2014 31.12.2015 31.03.2016 Gross NPL /Total Receivables 3,80% 3,70% 3,40% 3,84% Net NPL / Net Receivables 1,80% 1,30% 0,83% 0,96% 160.000 140.000 120.000 000 TL LOSS RESERVE 100.000 2016 Opening (139.750) 151-240 Reversals 1.516 80.000 241-360 New provisions (3.888)
Slide 23: Collaterals
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 + Collaterals Pledge + Buyback Mortgage 5,35% 5,59% p
Slide 24: Ratings
RATINGS Foreign Currency Long-Term IDR BBB - Short-Term IDR F3 Outlook Stable Local Currency Long-Term IDR BBB - Short-Term IDR F3 Outlook Stable National Long-Term Rating AA + (tur) Outlook Stable Support Rating 2 24
Slide 25: Disclaimer
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 for information purposes
İş Finansal Kiralama A.Ş. (İş Leasing) — Investor Presentation (March 2016) on 6ix