Inveo Yatirim Holding As · BIST:INVEO
Inveo Yatirim Holding As — Inveo Yatırım Holding — Q1 2024 Earnings Presentation
40 slides from Inveo Yatirim Holding As's earnings presentation, June 2024
Slide 1: Inveo Yatırım Holding Investor Presentation – 2024 Q1
Inveo Yatırım Holding Investor Presentation – 2024 Q1 June 2024* *Updated September 2024 by adding financial data excluding TAS 29 in accordance with the CMB's resolution dated 08.08.2024.
Slide 2: Disclaimer
Disclaimer The contents of this presentation have been prepared by Inveo Yatırım Holding Anonim Şirketi (“the Company”) for the purpose of providing general information available at the date of this presentation. The Company relies on information gathered from sources it believes to be reliable, but
Slide 3: Agenda
1. Corporate Profile 2. Investment Strategy and Inveo Ecosystem 3. Developments from Holding and Selected Companies 4. Financial Results 5. 2024 Simplification Plan 6. Financial Results (Except TAS 29) 7. Appendix 3
Slide 4: Inveo: New Generation Value Investor
Inveo: New Generation Value Investor OUR VISION SOCIAL VALUES Through our investments and the value we add to the companies we invest in, we are Training for increasing savings and relentlessly moving toward our vision of conscious savings, achieving $1.7 billion in market value by 2028. Increased p
Slide 5: Since Our Establishment Our Journey Making a Difference Continues
Since Our Establishment Our Journey Making a Difference Continues PREPARATION & TRANSFORMATION Innovation &Technology Vision in Investment in a Story that started with Capital Markets… 2024 Exit 2023 • Ichain The Birth of Inveo New Investments • Devexperts • Inveo Araç Teknoloji Kiralama • Devexpert
Slide 6: We are Travelling to the Future with Experienced Board Members
We are Travelling to the Future with Experienced Board Members 45+ years of experience 16+ years of experience 25+ years of experience 39+ years of experience 45+ years of experience Erhan Topaç Onur Topaç Bora Oruç Rüya Eser Ahmet Aka Chairman Vice Chair of the Board Independent Board Independent B
Slide 7: Inveo Yatırım Holding at a Glance (2024 Q1)
Inveo Yatırım Holding at a Glance (2024 Q1) Shareholder Structure Erhan Topaç 81.02 % Buy Back Shares 1.68 % 6.79 1.01 7.45 BN TL BN TL BN TL Free Float 17.3 % 6% 20% 13% Capital 240 MN TL Registered Capital Ceiling 1.000 MN TL L.T. Financial Investments L.T. Financial Investments (Total) (Excluding
Slide 8: Investment Strategy and Inveo Ecosystem
1. Corporate Profile 2. Investment Strategy and Inveo Ecosystem 3. Developments from Holding and Selected Companies 4. Financial Results 5. 2024 Simplification Plan 6. Financial Results (Except TAS 29) 7. Appendix 8
Slide 9: Our Investment Strategy: Right Time Right Value
Our Investment Strategy: Right Time Right Value We Create Value from Entry to Exit with Our Investments Our Investment Focus We invest Right Time Right Value Direct investments Financial markets in emerging investments sectors We exit Venture capital sustainable & game-changing with unity and synerg
Slide 10: We Grow Together with Our Stakeholders
We Grow Together with Our Stakeholders In our ecosystem that creates value as a whole with all our stakeholders, we grow with speed and dynamism and create sustainable synergies. Financial Investments Our Partners in Investments Business Partners Companies we have established Direct and Indirect Inv
Slide 11: We Monitor Our Ecosystem in 4 Main Areas of Activity
We Monitor Our Ecosystem in 4 Main Areas of Activity INVEO YATIRIM HOLDİNG AŞ CAPITAL MARKETS BANKING VENTURE CAPITAL STRATEGIC INVESTMENTS 84.87% 96.52% 97.73% * 100% 100% 100% 84.85% 0.93% 100% 100% Note: The ratios in the table are effective ownership ratios. *Ichain Yatırım Holding was transferr
Slide 12: Inveo Ecosystem
Crypto & De-Fi Inveo Ecosystem Banking Capital Markets 98 73 Number of Technology Companies Companies Number of Ecosystem 10 88 Direct Indirect Strategic Investment Investments Investments 117.3 MN USD 36.8 MN USD Total Investments Total Exists Venture Capital 12
Slide 13: Developments from Holding and Selected Companies
1. Corporate Profile 2. Investment Strategy and Inveo Ecosystem 3. Developments from Holding and Selected Companies 4. Financial Results 5. 2024 Simplification Plan 6. Financial Results (Except TAS 29) 7. Appendix 13
Slide 14: Inveo Yatırım Holding Simplifies in 2024
Inveo Yatırım Holding Simplifies in 2024 INVEO YATIRIM HOLDING SIMPLIFICATION PLAN BEFORE AFTER CAPITAL MARKETS 2024 Simplification Plan Completed Transfers CAPITAL MARKETS BIE - 1. Gaming ve Esports GSYF BANKING BANKING was transferred to Gedik Yatırım as of 29.04.2024. VENTURE CAPITAL VENTURE CAPI
Slide 15: Gedik Yatırım Shows Strong Performance on the Road to Leadership
Effective Gedik Yatırım Shows Strong Performance on the Road to Leadership Ownership %84.87 Strong Financial Indicators* (TL Million) Largest Branch Network and Number of Developments in 2024 Q1 Employees in the Sector Private Branch Structure Expands Equity* With Başkent Private, the number of priv
Slide 16: We Increased Our Share in Gedik Yatırım through Share Purchase Agreements
We Increased Our Share in Gedik Yatırım through Share Purchase Agreements Within the framework of the agreements made in 2022; Inveo 2021 2022 Yatırım Holding, for 41.83% shares of Gedik Yatırım; Erhan Topaç Effective Ownership Effective Ownership and Hakkı Gedik, with a maturity until 2026 460.5 mi
Slide 17: Misyon Yatırım Bankası Started Operations with Strong Staff
Effective Misyon Yatırım Bankası Started Operations with Strong Staff Ownership %96,52 Shareholder Structure Critical Developments Developments in 2024 Q1 Established with Developments in Technological Infrastructure December The first phase of the banking infrastructure named 2021 300 Million TL Ca
Slide 18: Inveo Portfolio Continues to Grow with High Profitability and New Funds
Inveo Portfolio Continues to Grow with High Profitability and New Funds Strong Financial Indicators* (TL Million) Number of Funds and Fund AuM – 2024 Q1 Developments in 2024 Q1 Disclosed Report Except TAS 29 Growth in Labour Force 94 Continuing to expand its distribution channels, Inveo 98 46 12.9 B
Slide 19: Inveo Ventures Continues Steady Growth
Effective Inveo Ventures Continues Steady Growth Ownership %97,73 Shareholder Structure Investment Portfolio Developments in 2024 Q1 ➢ Inveo Simplification Plan TOTAL Inveo Ventures has become a consolidation centre for Gedik Yatırım 15% 8 3 42 technology investments. STARTUP VCIF STARTUP ➢ Ventures
Slide 20: Financial Results
1. Corporate Profile 2. Investment Strategy and Inveo Ecosystem 3. Developments from Holding and Selected Companies 4. Financial Results 5. 2024 Simplification Plan 6. Financial Results (Except TAS 29) 7. Appendix 20
Slide 21: We Diversify Our Investments Across Our Fields of Activity
We Diversify Our Investments Across Our Fields of Activity INVEO YATIRIM HOLDING AŞ CAPITAL MARKET BANKING VENTURES CAPITAL STRATEGIC INVESTMENTS 5.773 MN TL 434 MN TL 326 MN TL 29 MN TL 105 MN TL 11 MN TL 0.8 MN TL 97 MN TL Ratio of non-Gedik Yatırım investments to total investments was 1.8% at the
Slide 22: 2024 Q1 Value Changes of Financial Investments
2024 Q1 Value Changes of Financial Investments Value Increase/ Long Term Financial Investments 31 December 2023 Net Investment / Sale Net Value Increase / 31 March Decrease Rate Monetary Loss/Gain (C/(A+B)) (Million TL) Value (A) (B) Decrease (C) 2024 Value Capital Markets 7,570 0 -604 -991 5,975 -8
Slide 23: We are Implementing the Simplification Plan in Our Investments
We are Implementing the Simplification Plan in Our Investments -22% YTD -53 Key Financial Indicators Long Term Financial Investments Number of Direct* and Indirect** (Milyon TL) (TL Million) Investments 10,000 151 8,810 8,648 16 8,000 7,252 7,449 810 6,209 6,786 6,000 578 98 10 4,000 135 7,838 2,000
Slide 24: INVEO Stock Performance from the Beginning of 2023
INVEO Stock Performance from the Beginning of 2023 01.01.2023 - 31.12.2023 01.01.2024 - 10.06.2024 01.01.2023 - 10.06.2024 Rate of Change Rate of Change Rate of Change INVEO 36% 41% 2% USD/TL 57% 73% 9% BIST 100 Index 32% 77% 31% BIST Holding and Investment Index 28% 75% 34% 250 INVEO 200 ➢ As it wa
Slide 25: 2024 Simplification Plan
1. Corporate Profile 2. Investment Strategy and Inveo Ecosystem 3. Developments from Holding and Selected Companies 4. Financial Results 5. 2024 Simplification Plan 6. Financial Results (Except TAS 29) 7. Appendix 25
Slide 26: Inveo Yatırım Holding Simplifies in 2024
Inveo Yatırım Holding Simplifies in 2024 INVEO YATIRIM HOLDING – PRE-SIMPLIFICATION STRUCTURE CAPITAL MARKETS 2024 Simplification Plan Objectives • To increasing organizational and operational efficiency, BANKING • To effective resource management, • To benefit more from the incentives VENTURE CAPIT
Slide 27: Inveo to Transfer Selected Investments
Inveo to Transfer Selected Investments Transferee Gedik Yatırım enters the Crypto Asset Area. HiVC's Investment Transferred Strategy to Change in 2024. The Area of BIE - 1. Gaming ve Technology Esports GSYF Entrepreneurship will be gathered in Ventures. BUG - 1. Fintech The Fintech Company will be t
Slide 28: Technology Entrepreneurship Area to be Gathered under Inveo Ventures
Technology Entrepreneurship Area to be Gathered under Inveo Ventures Technology Entrepreneurship Current Investments New Structure After the Transfers 6 STARTUP 1 VCIF TOTAL 21 4 67 9 STARTUP 2 VCIF STARTUP +12 New VCIF +2 New STARTUP 1 5 BVG – Boğaziçi Ventures GSYF BUG – 1. Fintech GSYF STARTUP VC
Slide 29: International Capital Markets Companies to be Managed Under One Roof
International Capital Markets Companies to be Managed Under One Roof Alfa Beta Capital markets globally companies in which we have invested in different countries under a roof Finveo Investment Holding within the organization. Our goal will be to increase organizational and operational efficiency an
Slide 30: Inveo Yatırım Holding – New Structure After Simplification Plan
Inveo Yatırım Holding – New Structure After Simplification Plan INVEO YATIRIM HOLDİNG INVEO VENTURES CAPITAL MARKETS TOTAL 21 +12 New 4 +2 New 67 BANKING STARTUP VCIF STARTUP VENTURE CAPITAL hiVC TOTAL STARTEGIC INVESTMENTS 3 STARTUP 30
Slide 31: Financial Results (Except TAS 29)
1. Corporate Profile 2. Investment Strategy and Inveo Ecosystem 3. Developments from Holding and Selected Companies 4. Financial Results 5. 2024 Simplification Plan 6. Financial Results (Except TAS 29) 7. Appendix 31
Slide 32: Improvement in Key Financial Indicators Continues (Except TAS 29)
Improvement in Key Financial Indicators Continues (Except TAS 29) (TL Million) Key Financial Indicators 9,000 140% 8,000 7,656 7,448 %119 120% 7,000 6,302 6,208 6,000 %101 100% 5,000 %83 4,310 80% %68 4,000 3,209 3,170 60% 3,000 %51 %36 1,971 2,000 40% 1,224 1,165 1,000 771 705 538 327 206 148 84 20
Slide 33: Inveo Ecosystem Continues to Gain Value with New Investments (Except TAS 29)
Inveo Ecosystem Continues to Gain Value with New Investments (Except TAS 29) Long Term Financial Investments Direct and Indirect Investments (Number) (TL Million) 180 151 150 CAGR 7,516 CAGR +90 %106 160 132 130 1,139 6,786 16 Annual 140 Annual %93 1,013 +19 110 105 17 98 120 90 100 76 17 10 70 3,88
Slide 34: Our Financial Investments Gained Value in 2023 (Except TAS 29)
Our Financial Investments Gained Value in 2023 (Except TAS 29) Long Term Financial Investments 31 December 2022 Net Investment / Sale 31 December 2023 Value Increase Rate Net Value Increase (C) (Million TL) Value (A) (B) Value (C/(A+B)) Capital Markets 6,579 0 -604 5,975 -8% Gedik Yatırım 6,377 0 -6
Slide 35: Appendix
1. Corporate Profile 2. Investment Strategy and Inveo Ecosystem 3. Developments from Holding and Selected Companies 4. Financial Results 5. 2024 Simplification Plan 6. Financial Results (Except TAS 29) 7. Appendix 35
Slide 36: TAS 29 Financial Statement Effects
TAS 29 Financial Statement Effects Million TL 2023 Q1 2024 Q1 Retained Earnings (361.64) (899.62) Paid-in Capital (30.05) (36.15) Deferred Taxes (17.6) (29.84) TOTAL Legal Reserves (4.44) (7.24) TAS29 EFFECT Share Premiums (5.75) (6.91) Tangible Fixed Assets 0.69 0.44 2023 Q1 Indexation Effect of Pr
Slide 37: Inveo – IFRS Condensed Financial Statements
Inveo – IFRS Condensed Financial Statements Balance Sheet Income Statement Million TL 2023 2024 Q1 Change % Million TL 2023 Q1 2024 Q1 Change % Current Assets 157 662 322 Gross Profit (Loss) (651) (75) (88) Financial Investments 133 480 260 General Administrative Expenses (-) (11) (12) 10 Non Curren
Slide 38: Inveo – IFRS Condensed Financial Statements (Except TAS29)
Inveo – IFRS Condensed Financial Statements (Except TAS29) Balance Sheet Income Statement Million TL 2023 2024 Q1 Change % Million TL 2023 Q1 2024 Q1 Change % Current Assets 136 662 386 Revenues 3.1 51 1,529 Financial Investments 116 480 314 Cost of Sales (-) (1.9) (126) 6,565 Non Current Assets 7,5
Slide 39: Changes in Capital Share and Share Ratios in Direct Investments
Changes in Capital Share and Share Ratios in Direct Investments DIRECT FINANCIAL 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1Ç INVESTMENTS Nominal TL % Nominal TL % Nominal TL % Nominal TL % Nominal TL % Nominal TL % Nominal TL % Nominal TL % Nominal TL % Nominal TL % Gedik Yatırım 10.414.164
Slide 40: Thank You
Investor Relations Contact Deniz Özer Investor Relations Manager Diğdem Erdoğan Thank You Investor Relations Executive Hakan Duran Investor Relations Assistant Specialist +90 216 453 00 33 ir@inveo.com.tr Links Annual Reports Financial Statements Inveo Yatırım Holding website of IR
Inveo Yatırım Holding — Q1 2024 Earnings Presentation on 6ix