Koc Holding A.S. · BIST:KCHOL
Koc Holding A.S — H1 2006 Earnings Presentation
15 slides from Koc Holding A.S's earnings presentation, September 2006
Slide 1: Koç Holding Financial Review 1H 2006 Results
Koç Holding Financial Review 1H 2006 Results
Slide 2: Consolidated Interim Statements of Income
Consolidated Interim Statements of Income 30-06-06 30-06-06 30-06-06 30-06-05 % EUR mn USD mn TRY mn TRY mn Change (*) (*) (*) (*) Net Revenues 11,080 13,890 22,265 11,127 100 Net operating profit Gross Profit 1,710 2,144 3,436 1,889 82 increased by 156% YoY to TRY 1.35bn Net Operating Profit 674 84
Slide 3: Improvement in Margins
Improvement in Margins 30-06-06 30-06-06 30-06-06 30-06-05 % Change EUR mn (*) USD mn (*) TRY mn (*) TRY mn (*) Net Operating Profit 674 845 1,354 529 156 362 Depreciation & Amortization 231 290 464 28 EBITDA 905 1,135 1,819 892 104 Operating Margin, % EBITDA Margin, % 6.08 8.01 8.17 4.76 1H05 1H06
Slide 4: Continuous Growth in Revenues
Continuous Growth in Revenues Total Revenues Segment Contribution to Total Revenues TRY mn TRY mn 22,265 373% 10,327 100% 11,127 14% 15% 53% 148% 9% 2,677 3,064 2,940 3,377 2,498 2,302 2,183 1,631 927 769 697 1H05 1H06 1H05 1H06 1H05 1H06 1H05 1H06 1H05 1H06 1H05 1H06 1H05 1H06 Auto Durables Retail
Slide 5: Increasing Share of FX-linked Revenues
Increasing Share of FX-linked Revenues International Sales Total Revenues TRY mn % 1H05 1H06 5,918 Other Other 7% Auto Energy 3% 24% 53% Energy 46% 3,875 Auto 20% 14% Finance Durables 8% 15% Durables Retail 26% Finance Retail 1H05 1H06 15% 10% 11% Total: TRY 11,127 mn Total: TRY 22,265mn Higher resi
Slide 6: Strong Net Operating Profit in All Business Lines
Strong Net Operating Profit in All Business Lines 30 June 2006 Consumer Food and Consolidated Automotive Finance Energy Other TRY mn Durables Retail Total Net Operating Profit 245 264 127 297 429 (9) 1,354 Net Operating Profit Segment Contribution to Net Operating Profit TRY mn TRY mn Other Other 1,
Slide 7: Automotive Group
Automotive Group Automotive Total revenues of the automotive group were up by 14%, while Net Operating Profit its net operating profit registered 64% increase compared to the TRY mn same period last year. 245 Ford Otosan’s both domestic and export volumes increased in 64% 1H06. In the domestic marke
Slide 8: Consumer Durables Group
Consumer Durables Group Consumer Durables Total revenues of the consumer durables group were up by Net Operating Profit TRY mn 15%, while its net operating profit registered 71% increase 264 compared to the same period last year. 71% Integration of Grundig to the Group and Arçelik’s domestic and 155
Slide 9: Food and Retailing Group
Food and Retailing Group Retail Total revenues of the retail sector were up by 53%, while its net Net Operating Profit operating profit registered a significant 308% increase TRY mn compared to the same period last year. 127 1H06 results show the full impact of the Migros-Tansaş 308% merger. Consoli
Slide 10: Finance Group
Finance Group Finance Total revenues of the finance group were up by 148%, while its Net Operating Profit net operating profit registered 89% increase compared to the TRY mn same period last year. 297 89% The merger of Kocbank and YKB is expected to be finalized in October 2006. In 1H06, total loans
Slide 11: Energy Group
Energy Group Energy Energy was the fastest growing segment among the core Net Operating Profit sectors, with total revenues growing by 373%, while net TRY mn operating profit registered a 532% increase compared to 429 the same period last year. 532% Tüpraş’ net sales revenue went up by 42% to TRY9mn
Slide 12: Details of the Tüpraş Financing
Details of the Tüpraş Financing Tüpraş financing was secured in 1Q06 with the following terms: • USD1 billion with 3-year maturity at Libor+1.0 from the consortium composed of JP Morgan Europe Limited, Calyon Corporate and Investment Bank, JP Morgan Plc., WestLB AG London Branch and JP Morgan Chase
Slide 13: FX Gain / Loss
FX Gain / Loss FX Fluctuations During the Recent Market Turmoil USD / TRY 1.8 19.4% 8.5% 1.7 1.6 1.5 1.4 1.3 1.2 Dec-05 Mar-06 Jun-06 Sep-06 Tüpraş financing was secured through long-term loans and requires no strong cash outflow in 2006 and 2007 (net cash outflow is USD 75mn in 2006 and USD 136mn
Slide 14: For Further Questions, Please Contact
For Further Questions, Please Contact: Funda Güngör Aslı Selçuk Iskır Coordinator Manager Investor Relations Investor Relations Strategic Planning Group Strategic Planning Group fundag@koc.com.tr aslii@koc.com.tr +90 216 531 0535 +90 216 531 0537 www.koc.com.tr P14
Slide 15: 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