Indeks Bilgisayar Sistemleri Muhendislik Sanayi Ve Ticaret A.s · BIST:INDES
Indeks Bilgisayar Sistemleri Muhendislik Sanayi Ve Ticaret A.s — FY2013 Earnings Presentation
46 slides from Indeks Bilgisayar Sistemleri Muhendislik Sanayi Ve Ticaret A.s's earnings presentation, Mar 12, 2014
Slide 1: Analyst Presentation
Analyst Presentation Erol Bilecik Index Group CEO twitter.com/ErolBilecik 12 March 2014 Hyatt Regency Hotel, İstanbul
Slide 2: Disclaimer
Disclaimer This presentation contains information and analysis on financial statements as well as forward-looking statements that reflect the Company management’s current views with respect to certain future events. Although it is believed that the information and analysis are correct and expectatio
Slide 3: Agenda
Agenda IT Sector in Turkey and the World Index Group Companies 2013 Review Indeks Computer Inc. 2013 Review & 2014 Targets Index Group Companies 2014 Expectations
Slide 4: IT Sector in Turkey and the World
I Sector in Turkey and the World
Slide 5: Changes in End User Market Share
Changes in End User Market Share 2014 E 15% 9% 12% 15% 49% 2013 18% 9% 13% 14% 46% 2012 17% 11% 14% 14% 44% 2011 18% 11% 15% 14% 42% 2010 17% 13% 16% 14% 40% 2009 18% 14% 16% 14% 38% 2005 22% 25% 25% 10% 18% 2000 25% 35% 23% 7% 10% 1995 38% 30% 20% 5% 7% 1995 2000 2005 2009 2010 2011 2012 2013 2014
Slide 6: Trends in PC & Internet Penetration
Trends in PC & Internet Penetration 80% 80% 64% 58% 60% 60% 50% 52% 60% 52% 46% 44% 40% 40% 34% 40% 25% 20% 15% 20% 15% 12% 0% 0% 2000 2005 2011 2012 2013 2014 E 2015 E 2000 2005 2011 2012 2013 2014 E 2015 E PC / Tablet Penetration Internet Penetration Source: Index Group
Slide 7: Turkish IT Market 2011 - 2017
Turkish IT Market 2011 - 2017 (x m $) CAGR (11-17E) : % 6,8 8.000 7.539 16% 7.086 7.335 6.833 7.000 6.359 14% 5.842 6.000 12% 5.093 5.000 10% (mio USD) 4.000 8% 3.000 6% 2.000 4% 1.000 2% 0 0% 2011 2012 2013 2014 2015 E 2016 E 2017 E IT Sector Business Volume Source: IDC Worldwide Black Book
Slide 8: Turkish IT Market 2011 - 2017 by segment
Turkish IT Market 2011 - 2017 (x m $) Turkish IT Sector Segments (x m $) 2011 2012 2013 2014 E 2015 E 2016 E 2017 E Hardware 3.338 $ 3.862 $ 4.201 $ 4.464 $ 4.482 $ 4.456 $ 4.370 $ Software 656 $ 719 $ 779 $ 844 $ 919 $ 1.005 $ 1.098 $ Service 1.098 $ 1.261 $ 1.379 $ 1.525 $ 1.686 $ 1.875 $ 2.072 $
Slide 9: Turkish PC Market / Desktop & Mobile
Turkish PC Market / Desktop & Mobile 2012 PC Market 2013 PC Market 3.513.545 Units 3.062.053 Units Mobile PC Desktop PC Mobile PC Desktop PC 67% 33% 68% 32% Market Growth Total PC -13% Desktop PC -16% Mobile PC -11% Source: IDC Worldwide Black Book
Slide 10: Turkish PC Market / Desktop & Mobile & Tablet
Turkish PC Market / Desktop & Mobile &Tablet 2012 PC Market 2013 PC Market 4.318.254 Units 4.873.914 Units Tablet 19% Tablet 37% Desktop PC Desktop PC 20% 27% Mobile PC Mobile PC 55% 43% Market Growth Desktop PC -16% Mobile PC -11% Tablet 125% Source: IDC Worldwide Black Book
Slide 11: Turkish PC Market Sellers / Desktop & Mobile
Turkish PC Market Sellers / Desktop & Mobile (x 1.000 Units) 2.000.000 1.800.000 1.600.000 1.400.000 1.200.000 1.000.000 800.000 2012 2013 600.000 400.000 200.000 0 Direct Classical System Producer E-Commerce Value Added Sellers Retail Shops Dealers Integrators Sales Sites Dealers Telecom 2012 1,804
Slide 12: Turkish PC Market Buyers / Desktop & Mobile
Turkish PC Market Buyers / Desktop & Mobile (x 1.000 Units) 3.500.000 3.000.000 2.500.000 2.000.000 1.500.000 1.000.000 2012 2013 500.000 0 Large Large End SME SME MLE Buyers Public Firms Firms Education User (1-9) (10-99) (100-499) (500-999) (1.000+) 2012 2,886 139 173 80 100 55 45 35 2013 2,234 27
Slide 13: Various Countries PC Market
Various Countries PC Market (x 1.000 Units) 16.000.000 2012 Unit 14.000.000 2013 Unit 12.000.000 10.000.000 8.000.000 6.000.000 4.000.000 2.000.000 0 Saudi South Czech Countries Russia Turkey Poland Ukraine UAE Israel Kazakhistan Portugal Nigeria Romania Greece Egypt Ireland Qatar Arabia Africa Rep.
Slide 14: Developing Countries IT Market-2013
Developing Countries IT Market-2013 (x m$) 100% 11% 7% Service 90% 19% 5% 20% 21% Software 23% 22% 5% Hardware 80% 10% 15% 16% 12% 70% 17% 60% 50% 88% 40% 84% 70% 65% 63% 66% 30% 59% 20% 10% 0% China India Indonesia Russia Brasil Mexico Turkey Hardware 147,183 29,630 12,617 22,149 36,473 13,918 4,20
Slide 15: Developed Countries IT Market-2013
Developed Countries IT Market-2013 (x m$) 100% Service 90% 20% Software 35% Hardware 80% 36% 38% 41% 44% 46% 9% 70% 60% 18% 50% 27% 25% 22% 20% 19% 40% 71% 30% 47% 20% 37% 37% 37% 36% 37% 10% 0% Japan Canada USA UK France Germany Korea Hardware 83,051 19,548 246,849 40,884 25,916 35,490 24,768 Softw
Slide 16: 2013 Colourful year of Technology!
2013 Colourful year of Technology! Top 10 Technology Trends in 2013 80 % of Mobile Phones will become smart in 2015! Mobile Speaker Usage "Selfie" Photography 2. secreen need used with Tablet & smart phones Step of Robotic age! Cloud IT Implementation (Google Drive, Mega, Dropbox) 3D P
Slide 17: Impressive Developments in Turkish IT
Impressive Developments in Turkish IT 16-74 age group, TUİK research data; Introduction age with Computer is 8, Internet is 9 Computer Usage for men %60, for women %40 Computer Usage in Urban %59, in Rural %30 Various Index; In SPAM Production, Turkey is number 6 as India number 1 in the sam
Slide 18: Index Group Companies 2013 Review
Index Group Companies 2013 Review
Slide 19: Index Group Companies & Subsidiaries
Index Group Compnanies & Subsidiaries BIST Listed Company Name Bussiness Model % % Index Inc. * Broadliner Dist. 100 41 Datagate Inc. ** PC Components Dist. 59 34 Despec Inc. *** Consumables Dist. - 32 Neteks Inc. **** Network Products Dist. 50 - Neotech Inc. Consumer Electronic Dist. 80 - Homend In
Slide 20: Human Resource
Human Resource 138 2% 32% Satış 3% Fin&Muh&C/H 2% 103 Lojistik 86 24% Ürün Yönetimi 20% Yönetim 69 16% IT İK Total 426 People
Slide 21: Group Companies 2012-2013 Revenues (Solo)
Group Companies 2012-2013 Revenues (Solo) (x m TRL) Growth Company Name 2012 2013 % 2100 Sales CAGR (12-13): % 18 Index 973 1,271 31% 1800 Datagate 197 157 -20% 1500 Despec 130 143 10% 1200 Neteks 156 203 30% 900 Neotech 232 216 -7% 600 Artım 47 55 17% 300 2012 2013 Teklos (mio TRL) 9 10 11% Sales T
Slide 22: Major Vendors
Major Vendors =, INDEX {GRUP U | @ | Canon? TOSHIBA ASUS flenowo ‘cisco. invent a Micresoft: (ite) acer. (peu) WTO Qe Juniper EPSON’ FUJITSU server pSeries FJ Wester OKI scopie() aalrust ANoc hd ra Hee @eerver iSeries AirTies Skingston S. ® LEXMARK a ARUBA Panourt LMS rene aout Bapeue PAY @EMTEC AVA
Slide 23: Index Group Companies 2012-2013 Sales Breakdown
Index Group Companies 2012-2013 “Sales Breakdown on Main Product Group Based” Data Storage & Consumer Printing & Smart PC OEM Network Tablet Software Consumables Medium Accessories Electronic Imaging Phones Size Systems 2012 36.0% 14.7% 13.9% 9.0% 1.3% 7.7% 6.8% 6.9% 2.7% 0.0% 0.9% 2013 36.9% 11.1%
Slide 24: Sales Seasonality
Sales Seasonality 2014T 25% 22% 22% 30% 2013 23% 24% 23% 31% 2012 23% 22% 22% 33% 2011 23% 23% 23% 31% 2010 23% 20% 23% 34% 1Q 2Q 2009 18% 26% 25% 31% 3Q 4Q 2008 28% 24% 24% 24% 2007 21% 23% 23% 33% 2006 23% 21% 24% 32% 2005 21% 21% 24% 34% 0 0,1 0,2 0,3 0,4 0,5 0,6 0,7 0,8 0,9 1
Slide 25: Our Market Share
Our Market Share 2012 2013 16.8% 17 % Total IT Sector Turkey Total IT Sector Index Group Total Revenue Turkey Total IT Sector Index Group Total Revenue 2013 2012 2013 21.7% 22 % Total IT Sector (Hardware) Turkey Total HW Index Group HW Revenue Turkey Total HW Index Group HW Revenue
Slide 26: Index Computer Inc. 2013 Review & 2014 Targets
Index Computer Inc. 2013 Review & 2014 Targets Atilla Kayalıoğlu Index Computer Inc. General Manager
Slide 27: Company Profile & Our Regions
Company Profile & Our Regions Company Name Indeks Computer Inc. Establishment 1989 Legal Status Public Company – ISE Chairman Erol BİLECİK General Manager Atilla KAYALIOGLU Head Office / Establismen Number of Branch t Date City Employees Head Office July.89 İstanbul 226 Branch April.92 Ankara 12 Bra
Slide 28: Index Computer Consolidated 2012-2013 Revenues
Index Computer Consolidated 2012-2013 Revenues (000 TRL) 600.000 500.000 400.000 2012 300.000 2013 200.000 100.000 0 1Q 2Q 3Q 4Q Total 2012 317.419 298.346 309.249 411.209 1.336.223 2013 401.556 349.514 370.462 493.742 1.615.274 Growth 27% 17% 20% 20% 21%
Slide 29: 2013 - 2014 Review
2013 - 2014 Review… Sales & Marketing Growth in 2014 Continue to grow in the market that goes towards Tablets. Growth in Smart Phones out of Telecom Channels. Improving Sales & Services over Web Continuing to Compete well as the big one in the market. Finance & Logistic Providing better
Slide 30: 2013 Financial & Operational Results
Index Computer Inc. 2013 Financial & Operational Results Halil Duman Index Computer Inc. CFO
Slide 31: Revenue & Gross Profit (000 TRL)
Revenue & Gross Profit (000 TRL)
Slide 32: Summarized P/L Account (000 TRL)
Summarized P/L Account (000 TRL)
Slide 33: Summarized Balance Sheet (000 TRL)
Summarized Balance Sheet (000 TRL)
Slide 34: Net Financial Debt (000 TRL & USD)
Net Financial Debt (000 TRL & USD)
Slide 35: Working Capital (000 TRL)
Working Capital (000 TRL) Working Capital / Net Sales
Slide 36: Cash Flow (000 TRL)
31.12.2013 31.12.2012 Activity of Net Cash Flow —- 34.118 33.229 Investment Activities (1.102) (2.305) Changes in Cash 33.016 30.924 Ene in Financial Debts (9.460) (44.860) INDEX @ datagate pespee Netex artim@e JEKIOS
Slide 37: Financial Ratios
Financial Ratios Current Ratio m4 18 Quick Ratio 0,93 be Receivables Days Payables Days ot w02 Inventory Days 29 30 FINANCIAL STRUCTURE RATIOS 31. = VE ELS = = Capital / Total Liabilities & Capital Short T. Debts / Total Liabilities & Capital sone v1 Long T. Debts / Total Liabilities & Capital 1% 1%
Slide 38: Index Group Companies 2014 Review
Index Group Companies 2014 Review Erol Bilecik Index Group CEO
Slide 39: Index Group Companies 2014 Revenue Targets
Index Group Companies 2014 Rev. Targets (Solo) (x mio TRL) Growth CAGR (13-14): % 10 Company Name 2013 2014 E % 2400 2.266 Index 1,271 1,610 27% 2.055 2100 Datagate 157 187 19% 1800 Despec 143 172 20% 1500 (milyon TL) Neteks 203 211 4% 1200 Neotech 216 0 0% 900 Artım 55 70 29% 600 Teklos 10 16 51% 3
Slide 40: Index Group Companies 2013-2014 Sales Breakdown
Index Group Companies 2013-2014 «Sales Breakdown on Main Product Group Based» Data Printing & Storage & Smart Consumer PC Network OEM Software Tablet Imaging Consumables Medium Accessories Phones Electronics Products Size Systems 2013 36.9% 1.6% 9.9% 11.1% 6.9% 7.0% 6.6% 6.2% 10.8% 1.9% 0.9% 2014 E
Slide 41: 25th Year
We are celebrating our 25th year! 25th Year We will behind future IT Developments.
Slide 42: Strong Investments
Strong Investments Biggest Investment in its Sector in Logistic IndexPark Real Estate Project New Office Investment
Slide 43: Strongest Player in the World
Strongest Player in the World 8 Biggest Tablet Brands 11 World Notebook Fast Enterance in Brand Mobile Telecom World with iPhone Distributorship
Slide 44: Strong Logistic Player TEKLOS
Strong Logistic Player TEKLOS 2017 30 Mio USD Logistic Income… 2014 7.0 MiO USD Logistic Income…
Slide 45: Strong, Profitable & Efficient Growing, Index Grup
Strong, Profitable & Efficient Growing, Index Grup Between 2000 - 2013 From 144 mio TRL to 2,056 mio TRL sales & 14 times Growth in 14 years, %23 Yearly Average Switching to Growth online system and working efficiently with New B2B strategy Strong Synergy with our Foreign Shareholder
Slide 46: Thanks…
Thanks… Think about Environment!