Pinar Sut Mamulleri Sanayii A.s. · BIST:PNSUT
Pinar Sut Mamulleri Sanayii A.s — Pınar Süt — Q1 2023 Earnings Presentation
16 slides from Pinar Sut Mamulleri Sanayii A.s's earnings presentation, 2023
Slide 1: Pınar Süt Financial Presentation 2023-Q1
PINAR SÜT FINANCIAL PRESENTATION 2023-Q1
Slide 2: Contents
CONTENTS PINAR SÜT AT A GLANCE MARKET DYNAMICS PINAR SÜT ACTIVITIES MARKET POSITION FINANCIAL RESULTS DISCLAIMER AND CONTACT INFORMATON 2
Slide 3: Pınar Süt at a Glance
PINAR SÜT AT A GLANCE TRY 2.53 billion % 88.62 Turnover Turnover Growth TRY 14.7 42,7 14,7 million in TRY 746.4 Investment Gross Profit 1,284 Average Number of Employees 01.01.2023-31.03.2023 01.01.2022-31.03.2022 Gross Profit Margin 11.5% 17.2% Income Operating Profit Margin 4.7% 8.6% Statement Net
Slide 4: Market Dynamics - Production and Cost
MARKET DYNAMICS - PRODUCTION AND COST • The prices of food and non-alcoholic beverages increased by 3.84 percent in March, and the annual inflation rate for this group decreased by 1.44 points to 67.89 percent. Annual inflation for unprocessed food decreased by 0.19 points to 65.94 percent, while fo
Slide 5: Market Dynamics - Production and Cost
MARKET DYNAMICS - PRODUCTION AND COST Total Milk and Total Cheese Turnover and Volume Nielsen, Excl. DM, 2023-3M 2023-3M 96,2 million 95,1 2022-3M litres million 29,1 litres 26,45 million million kg kg Total Milk Total Cheese Production of Dairy Products in Turkey TURKSTAT, thousand tons • According
Slide 6: Market Dynamics - Consumption and Market
MARKET DYNAMICS - CONSUMPTION AND MARKET Share of Packaged Products Packaged Products Penetration IPSOS 57,8% 60,0% 96,6% 97,2% 84,3% 80,9% 43,4% 40,1% Süt Peynir Süt (UHT) Peynir 2021 2022 Dairy Products Market Turnover Breakdown Nielsen, Excl. DM, 2023-3M • According to the Nielsen data for the 1s
Slide 7: Pınar Süt Activities
PINAR SÜT ACTIVITIES Pınar Süt increased its revenue by 88.62% in the first quarter of 2023. • According to the results for the first three months of 2023, our company's net sales revenue increased by 88.62% compared to the first three months of 2022, reaching 1.956 million TL; the net profit for th
Slide 8: Market Position
MARKET POSITION Market Shares of Pınar Süt Pınar Süt and Competitors Nielsen, Excl. DM, Nielsen, Excl. DM, 2023-3M 2023-3M Product Share Position Total UHT Milk 19.4% 1# UHT Light Milk 25.1% 2# Enriched Milk (Kids) 56.3% 1# Protein Milk 63.4% 1# Total Cheese 9.7% 3# Spreadable Cheese 28.3% 1# Fresh
Slide 9: Market Position - Awards
MARKET POSITION AWARDS • Pınar was selected the Food Star in the Cheese and Milk categories for the year 2022 at Gıdanın Yıldızları Awards Ceremony, determined by the votes of approximately 40,000 Yıldız Technical University students from Generation Z (ages 18-26) across 36 different categories, org
Slide 10: Financial Results 2023 – 3M
FINANCIAL RESULTS 2023 —- 3M AY
Slide 11: Net Sales Breakdown 2023-Q1
FINANCIAL RESULTS IN 2023-Q1 – NET SALES BREAKDOWN Based on Products Groups Based on Sales Channel *Fruit juice, sauce, other 11
Slide 12: Income Statement 2023-Q1
FINANCIAL RESULTS IN 2023-Q1 – INCOME STATEMENT 01/01/23 01/01/22 (Million TL) 31/03/23 31/03/22 Difference Change Net Sales 1,956.3 1,037.1 919.1 88.6% Cost of Goods Sold (1,731.5) (858.3) (873.2) 101.7% Gross Profit 224.8 178.9 45.9 25.7% R&D Expenses (12.0) (6.1) (5.9) 96.2% Sales, Distribution a
Slide 13: Sales and Profitability by the Annually
FINANCIAL RESULTS - SALES AND PROFITABILITY BY THE ANNUALLY Net Sales Gross Profit million TL 700 ,0 15,6% 16,0% 600 ,0 12,2% 12,9% 13,0% 12,8% 14,0% 500 ,0 12,0% 10,0% 746,4 400 ,0 8,0% 5.831 300 ,0 6,0% 200 ,0 2.682 231,6 348,1 4,0% 1.488 1.665 2.028 100 ,0 203,1 262,1 2,0% 0,0 0,0% 2018 2019 2020
Slide 14: Sales and Profitability by the Quarterly
FINANCIAL RESULTS IN 2023-Q1 SALES AND PROFITABILITY BY THE QUARTERLY Net Sales Gross Profit million TL 17,2% 2.682 12,9% 13,0% 2.028 1.956 11,5% 11,1% 11,5% 1.665 1.704 1.037 2020 2021 2022 4Ç22 1Ç23 1Ç22 2020 2021 2022 4Ç22 1Ç23 1Ç22 EBITDA Net Profit 10,7% 10,0% 7,8% 6,1% 6,4% 6,4% 4,4% 5,3% 5,3%
Slide 15: Financial Ratios, Investments and Credit Rating
FINANCIAL RESULTS IN 2023-Q1 FINANCIAL RATIOS 2018/12 2019/12 2020/12 2021/12 2022/12 2023/03 Current Ratio 1.07 1.23 1.10 1.12 1.11 1.05 Leverage Ratio 0.44 0.42 0.45 0.42 0.43 0.52 Current Borrowings/Total Borrowings 0.81 0.44 0.74 0.86 0.98 0.98 Net Fin. Borrowings/EBITDA 1.14 1.62 2.85 2.91 3.40
Slide 16: Disclaimer and Contact Information
DISCLAIMER AND CONTACT INFORMATON This presentation does not constitute an offer or invitation to purchase or subscription for any securities and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. This presentation contains forwardlookin