Slide 1: Pınar Süt Earnings Presentation 2019-9M
Pınar Süt Earnings Presentation 2019-9M
Slide 2: Pınar Süt at a Glance
2019-9M PINAR SÜT AT A GLANCE %1 1
Slide 3: Highlights
2019-9M HIGHLIGHTS 1.213 8.8% 60.4 billion TL Net Sales million TL Net Sales Growth EBITDA 32.5 6.3 1,040 million USD million TL Empoloyees in export sales Capex 2019-9M ˗ In the first nine months of the year, drinking milk, yoghurt, cow cheese and ayran production respectively decreased by 9%, 1%,
Slide 4: Market Dynamics: Production and Cost
2019-9M MARKET DYNAMICS PRODUCTION AND COST Production of Dairy Products in Turkey Raw Milk Production in Turkey TSI, thousand tons TSI 22.1 20.7 18.2 18.6 18.7 18.5 Products 2018-8M 2019-8M Change Drinking Milk 1,133 1,029 -9% Cow Cheese 496 455 -8% Yoghurt 813 803 -1% Ayran 492 469 -5% 2013 2014 2
Slide 5: Market Dynamics: Consumption and Market
2019-9M MARKET DYNAMICS CONSUMPTION AND MARKET Share of Packaged Products Packaged Products Penetration IPSOS IPSOS 92.6 93.0 93.2 93.7 52.1% 54.5% 39.9% 38.8% Milk Cheese Milk Cheese 2018-9M 2019-9M Total Milk and Total Cheese Turnover and Volume Turkey's Dairy Market Segments (Turnover) Nielsen, B
Slide 6: Market Position
2019-9M MARKET POSITION Pınar Süt and Competitors 2019-9M , Nielsen, BIM Excl. Market Shares Based on Products 2019-9M , Nielsen, BIM Excl. Product Share Position Pınar Closest Competitor Total UHT Milk 27.5% 1# UHT Light Milk 51.0% 1# Enriched Milk (Kids) 75.3% 1# Protein Milk 50.7% 1# Total Cheese
Slide 7: Net Sales Breakdown
2019-9M FINANCIALS NET SALES BREAKDOWN *Other Based on 13% Product Groups Dairy *Fruit juice, Products sauce, other 88% Based on Sales Channel Export 32.5 million Dollar 15% S. Arabia 24.9% Direct Kuwait 11.8% 2% Iraq 11.0% UAE 8.4% Qatar 5.3% YBP Cyprus 5.1% 83% Bahrain 4.3% Other 29.2% 6
Slide 8: Income Statement
2019-9M FINANCIALS INCOME STATEMENT 1/1/2019 1/1/2018 (Million TL) 9/30/2019 9/30/2018 Difference Change Net Sales 1,212.6 1,114.1 98.5 8.8% Cost of Goods Sold (1,069.5) (940.4) (129.1) 13.7% Gross Profit 143.0 173.6 (30.6) -17.6% R&D Expenses (10.8) (9.4) (1.4) 14.8% Sales, Distribution and Marketi
Slide 9: Sales and Profitability – Annually
2019-9M FINANCIALS SALES AND PROFITABILITY – ANNUALLY Net Sales Gross Profit million TL 250.0 16.8% 16.1% 17.9% 15.9% 15.6% 15.6% 18.0% 16.0% 200.0 231.6 11.8% 14.0% 12.0% 150.0 196.8 10.0% 1,488 100.0 191.1 8.0% 1,240 1,114 1,213 162.4 173.6 1,011 1,068 157.7 6.0% 940 143.0 4.0% 50.0 2.0% 0.0 0.0%
Slide 10: Sales and Profitability – Annually
2019-9M FINANCIALS SALES AND PROFITABILITY – ANNUALLY Net Sales Gross Profit million TL 1,488 17.9% 1,240 15.9% 15.6% 1,068 13.1% 12.1% 9.6% 400 433 400 2016 2017 2018 3Q18 3Q19 2Q19 2016 2017 2018 3Q18 3Q19 2Q19 EBITDA Net Profit 8.7% 5.6% 6.9% 7.6% 6.0% 3.8% 3.3% 4.9% 3.3% 0.2% 0.1% 2016 2017 2018
Slide 11: Financial Ratios and Capital Expenditures
2019-9M FINANCIALS FINANCIAL RATIOS 2015/12 2016/12 2017/12 2018/12 2019/09 Current Ratio 1.16 1.23 1.21 1.07 1.06 Leverage Ratio 0.34 0.36 0.43 0.44 0.44 Current Borrowings/Total Borrowings (Fin.) 0.93 0.56 0.64 0.81 0.95 Net Fin. Borrowings/EBITDA 0.34 0.76 1.69 1.16 1.86 Net Fin. Borrowings/Equit
Slide 12: Ownership Structure
2019-9M OWNERSHIP STRUCTURE Shareholder Share Rate (%) Share Amount(TL) YAŞAR HOLDİNG A.Ş. 61.41 27,603,901.57 OTHER 38.59 17,347,149.68 Total 100.00 44,951,051.25 The company’s shares are traded at Borsa İstanbul Star Market under the ticker symbol PNSUT. 11
Slide 13: Disclaimer and Contact Information
2019-9M DISCLAIMER AND CONTACT INFORMATON BİLGİLERİ 12