Is Finansal Kiralama A.s. · BIST:ISFIN
Is Finansal Kiralama A.s — Investor Presentation (December 2016)
27 slides from Is Finansal Kiralama A.s's investor presentation, Dec 31, 2016
Slide 1: Investor Presentation 31 December 2016
Investor Presentation 31 December 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 Sale&lease back has been added to product range in 2013 Expertise on SMEs, consultancy and know-how support in addition to funding FX borrowing option (Bank FX loans have some restrictions) Fast credit approvals (leased-asset ownership), fle
Slide 4: Sector New Leasing Volume
SECTOR NEW LEASING VOLUME New Leasing Volume Leasing penetration is still at low levels (million USD) compared to EU average of 15% and North America average of 18%. 7637 6990 6365 6130 12% 5360 10% 4891 8% 3182 6% 4% 2% 0% 2006 2008 2010 2012 2014 2016 2010 2011 2012 2013 2014 2015 2016 Penetration
Slide 5: Leasing Receivables
LEASING RECEIVABLES Million USD 12.698 12.632 12.509 11.694 28% 28% 25% 9.530 26% 23% TL FX 2012 2013 2014 2015 2016 5
Slide 6: Customer Base
Müşteri Adedi CUSTOMER BASE 70.000 12% 10,0% 60.000 9,0% 10% 8,2% 50.000 8,0% 8,2% 8% 40.000 6% 30.000 4% 20.000 2% 10.000 - 0% 2012 2013 2014 2015 2016 Sector total İş Leasing share 2016 vs. 2015 Fastest customer growth in Customers Δ Contracts Δ the sector İŞ LEASING 15% 15% 6
Slide 7: Company Overview
is LEASING Company Overview
Slide 8: Milestones & Shareholders
MILESTONES & SHAREHOLDERS 1995 2009 1985 İş Bank Joined BIST Leasing law group took corporate enacted over governance index 1988 2000 2011 Established by Listed in First corporate İş Bank, Soc İstanbul Stock bond issuer in Gen and IFC Exchange leasing sector (ISFIN) TSKB 29,5% Traded OKULLU OTHERS 4
Slide 9: Participations
PARTICIPATIONS Subsidiaries and Participations Ownership % İş Faktoring A.Ş. 78,23 Efes Varlık Yönetimi A.Ş 10,00 İş Yatırım Menkul Değerler A.Ş. (IS Invest) 4,86 İş Net 1,00 İş Girişim Sermayesi Yatırım Ort. A.Ş. 0,89 Yatırım Finansman A.Ş. 0,06 9
Slide 10: Organization Chart
is LEASING Internal Audit _ Investor and Risk Relations Management Treasury a Financial Institutions Marketing Risk Monitoring Financial Management Administration Legal Affairs 10
Slide 11: Branch Network
BRANCH NETWORK Avcılar Şişli Gebze Kozyatağı Trabzon Ostim Bursa Ankara Kayseri Diyarbakır İzmir Konya Denizli Gaziantep Antalya Adana 15 Branches 52 Sales staff 150 Total staff 11
Slide 12: Lease Portfolio
iS LEASING Lease Portfolio
Slide 13: Sales Channels
SALES CHANNELS 2015 2016 İŞ BANK VENDORS DIRECT MARKETING İŞ BANK VENDORS DIRECT MARKETING 13% 16% 16% İşbank: 1351 local and 23 foreign branches, largest network among private 57% 71% 27% banks. 13
Slide 14: Asset Distribution, %
ASSET DISTRIBUTION , % 2015 2016 36,0 35,8 26,2 23,5 19,1 14,8 12,5 12,3 6,1 4,8 4,4 4,6 REAL ESTATE MACHINERY CONSTRUCTION TRANSPORT. TEXTILE OTHERS MACH. 14
Slide 15: Sectoral Distribution, %
SECTORAL DISTRIBUTION , % 2015 2016 33,9 32,6 24,3 21,9 16,2 14,5 9,1 7,8 6,9 7,0 4,4 4,9 3,5 4,5 4,1 4,5 CONSTRUCT METAL IND. TRANSPORT TEXTILE CHEMICALS RETAIL FINANCE OTHERS 15
Slide 16: Geographical Distribution
GEOGRAPHICAL DISTRIBUTION ANKARA BURSA OTHER 14% 4% 20% İZMİR 4% KONYA 3% ANTALYA 2% ANTEP HATAY 4% 2% KOCAELİ İSTANBUL 2% 45% 16
Slide 17: Maturity Distribution
MATURITY DISTRIBUTION 2015 2016 LEASES LEASES BORROWINGS BORROWINGS 27 27 26 23 20 19 19 19 12 10* 8* 8 USD EUR TRY USD EUR TRY average, months *Portion funded by equity is included. 17
Slide 18: Currency Distribution
CURRENCY DISTRIBUTION TL TL TL 34% 36% 37% USD USD USD 24% 35% 32% EUR EUR EUR 39% 31% 33% 2014 2015 2016 18
Slide 19: Leverage
LEVERAGE Leverage (solo) TL Leasing Receivables Equity TL Debt 4,7 1.414 1.166 4,0 3,9 932 659 474 306 3,1 470 692 755 570 626 2013 2014 2015 2016 2013 2014 2015 2016 Increased leverage by gaining market share TL receivables increased three fold in 4 years. 19
Slide 20: Funding Policy
FUNDING POLICY • First corporate bond issuer in leasing sector, outstanding nominal balance 1.065 million TL, maturities range between 6 months to 18 months. • IFI and ECA Funding o IFC renewable energy and energy efficiency facility, World Bank EFIL- SME loans, CEB SME loans, BSTDB SME loan, ECO-Tr
Slide 21: Financial Performance
Financial Performance
Slide 22: Financial Highlights
FINANCIAL HIGHLIGHTS 31 December 31 December 31 December 2016 vs 2015 TL Million, consolidated 2014 2015 2016 Δ Leasing Receivables, Net 2.841 3.287 4.001 22% Factoring Receivables, Net 1.433 1.951 2.984 53% Non Performing Receivables 160 183 231 26% Provisions 104 140 150 7% Total Assets 4.580 5.58
Slide 23: Solo Key Figures
SOLO KEY FIGURES (Million TL) 2015 2016 Δ 2015 2016 Δ Financial Highlights İş Sector Leasing Receivables 3.249 3.921 21% 36.728 44.022 20% Total Assets 3.656 4.508 23% 40.655 48.500 19% Equity 692 755 9% 6.930 7.800 13% Net Profit 81 82 0% 809 922 14% NPL Ratio 4,3% 4,7% 6,0% 6,3% Debt/Equity 4,0 4,
Slide 24: NPL
NPL Sector İş Leasing (solo) 8,55% 7,99% 7,6% 6,95% 7,0% 6,70% 6,30% 6,03% 4,8% 4,6% 4,65% 4,3% 2011 2012 2013 2014 2015 2016 Consolidated 31.12.2014 31.12.2015 31.12.2016 Loss Million TL Reserve Gross NPL /Total Receivables 3,70% 3,40% 3,23% 2016 Opening (140) Net NPL / Net Receivables 1,30% 0,83%
Slide 25: 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 + Pledge + Buyback Mortgage 4,61% 3,23% *Group leasin
Slide 26: Rating
RATING Foreign Currency Long-Term IDR BB+ Short-Term IDR B Outlook Stable Local Currency Long-Term IDR BB+ Short-Term IDR B Outlook Stable National Long-Term Rating AA + (tur) Outlook Stable Support Rating 3 Corporate Governance Rating (Saha) : 9.17 26
Slide 27: 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
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