Bim Birlesik Magazalar A.s. · BIST:BIMAS

Bim Birlesik Magazalar A.s — Q2 2016 Earnings Presentation

16 slides from Bim Birlesik Magazalar A.s's earnings presentation, 2016

  1. Slide 1: Results Presentation

    RESULTS PRESENTATION For the 3 months to 30 June 2016

  2. Slide 2: Notice

    NOTICE The information contained in this document has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. Neither t

  3. Slide 3: Headlines for Q2 2016

    HEADLINES FOR Q2 2016 4.971,2TL 230,2 TL 166,0 TL million(+14,3% YoY) million (+5,4% YoY) million CAPEX at Sales EBITDA 3,3% of sales Growing sales but REVISED EBITDA and profit Continued annual sales target to 15% margins still on target Expansion New Stores: FİLE 143,8 TL 214 inTurkey 11th store o

  4. Slide 4: Quarterly Net Sales and Gross Profit

    QUARTERLY NET SALES AND GROSS PROFIT Quarterly, TL million 4.971 Net Sales Gross Profit 4.811 4.448 4.536 4.351 818 797 732 740 710 2Q15 3Q15 4Q15 1Q16 2Q16 Gross Margin 16,3% 16,5% 16,3% 16,6% 16,5% 4

  5. Slide 5: Quarterly EBITDA and EBIT

    QUARTERLY EBITDA AND EBIT Quarterly, TL million EBITDA EBIT 243 231 229 230 218 187 194 177 185 179 2Q15 3Q15 4Q15 1Q16 2Q16 EBITDA Margin 5,0% 5,2% 5,1% 5,0% 4,6% EBIT Margin 4,1% 4,2% 4,1% 5 4,0% 3,6%

  6. Slide 6: Quarterly Net Income

    QUARTERLY NET INCOME Quarterly, TL million Net Income 169 162 150 141 144 2Q15 3Q15 4Q15 1Q16 2Q16 Net Income Margin 3,4% 3,8% 3,1% 3,4% 2,9% 6

  7. Slide 7: Like for Like Sales Increase (Turkey BİM Only)

    LIKE FOR LIKE SALES INCREASE (TURKEY BİM ONLY) Quarterly Semi-annualy 2015 Q2 2016 Q2 INCREASE 2015 H1 2016 H1 INCREASE Like-For-Like Like-For-Like Sales (TL- Sales 10.049 10.534 4,8% Sales (TL- Sales 9.969 10.558 5,9% per Store per Day) per Store per Day) Like-For-Like Like-For-Like 13,42 14,54 8,4

  8. Slide 8: Low-Capex Business Model

    LOW-CAPEX BUSINESS MODEL Quarterly Capex & % of Net Sales 3,5% 3,3% 3,0% 3,0% 2,4% 166 157 143 130 105 2Q15 3Q15 4Q15 1Q16 2Q16 Quarterly CAPEX % of Net Sales 8

  9. Slide 9: Strong Store Growth Continues

    STRONG STORE GROWTH CONTINUES Number of Stores Stores in Egypt Stores in Marocco Stores in Turkey (BİM) 5.374 5.160 4.822 4.878 4.972 258 269 140 279 157 295 181 309 116 127 2Q15 3Q15 4Q15 1Q16 2Q16 9

  10. Slide 10: Foreign Operations & FİLE Highlights

    FOREIGN OPERATIONS & FİLE HIGHLIGHTS MOROCCO EGYPT • 14 Stores opened in Q2 2016 and we • 24 Stores opened in Q2 2016 and we have 309 stores have 181 stores • Sales lower than expected, unlikely to • Sales slower, but store opening on break even this year. track FİLE • 1 new store opened in Q2 2016

  11. Slide 11: Foreign Operations - Contributions

    FOREIGN OPERATIONS - CONTRIBUTIONS Contribution to Consolidated Sales Contribution to Consolidated EBITDA H1 2015 - H1 2016, TL million H1 2015 - H1 2016, TL million -20,0 392 -16,0 310 493,0 9.782 473,0 9.390 421,0 8.445 405,0 8.135 H1 15 H1 16 H1 15 H1 16 H1 15 H1 16 H1 15 H1 16 H1 15 H1 16 H1 15

  12. Slide 12: Q&A

    Q&A 12

  13. Slide 13: Appendix: IFRS Financials

    APPENDIX IFRS Financials 13

  14. Slide 14: IFRS Income Statement

    IFRS INCOME STATEMENT 3 months ended 30 June 6 Months Ended 30 June TL million 2015 2016 2015 2016 Net Sales 4.351,1 4.971,2 8.445,3 9.782,0 (COGS) (3.641,1) (4.153,4) (7.101,0) (8.167,5) Gross Profit 710,0 817,8 1.344,3 1.614,5 Total SG&A (491,6) (587,6) (938,9) (1.141,4) EBITDA 218,4 230,2 405,4 4

  15. Slide 15: IFRS Balance Sheet

    IFRS BALANCE SHEET As at 30 June TL million Q2 2015 Q2 2016 Intangible assets 4,7 7,1 Tangible assets 1.391,1 1.965,0 Financial Investments (long term) 157,5 181,8 Other non-current assets 28,3 47,4 Total fixed assets 1.581,6 2.201,3 Trades receivable 534,4 605,3 Inventories 1.128,5 1.308,8 Prepayme

  16. Slide 16: IFRS Cash Flow

    IFRS CASH FLOW 3 months ended 30 June 6 months ended 30 June TL million 2015 2016 2015 2016 Net Income 149,6 143,8 273,1 305,9 D&A 41,8 51,6 80,3 100,8 Tax Expense (Non cash) 42,2 38,8 76,8 82,5 Other non-cash items 6,4 (1,0) 18,2 28,6 Funds from Operations 240,0 233,2 448,4 517,8 Change in net work

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