Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi · BIST:DOAS
Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi — Doğuş Otomotiv Servis ve Ticaret A.Ş. — Q1 2019 Earnings Presentation
19 slides from Dogus Otomotiv Servis Ve Ticaret Anonim Sirketi's earnings presentation, May 10, 2019
Slide 1: 1Q 2019 Analyst Briefing Presentation
1Q 2019 ANALYST BRIEFING PRESENTATION Kerem Talih 10 May 2019 1
Slide 2: 1Q 2019 DOAS Developments
1Q 2019 DOAS DEVELOPMENTS Revenue decreased by 33%. Gross Profit margin increased from 11,9% to 14,1% EBITDA margin was realized as 6,5%. OpEx/Sales was realized as 9,4% due to the decrease in revenues. 2
Slide 3: 1Q 2019 Doğuş Otomotiv Main Segment Sales Performance
1Q 2019 DOGUS OTOMOTIV MAIN SEGMENT SALES PERFORMANCE Retail RETAIL MARKET DOAS PERFORMANCE 3
Slide 4: Competition (Retail)
COMPETITION (Retail) YTD March YTD March 18 / March March 18 / VW PC ranked 3rd in the RETAIL MARKET 2017 2018 2018 2019 19 March 19 cumulative passenger ∆ ∆ vehicle market with 10,1% PASSENGER CAR % market share. RENAULT 21,5 21,2 21,2 21,9 0,7 0,6 DOGUS OTOMOTİV 21,1 19,6 21,2 17,4 -2,3 -3,9 TOFAS
Slide 5: 1Q 2019 Passenger Vehicle Market (%)
1Q 2019 PASSENGER VEHICLE MARKET (%) Retail - PC market decreased by 45% yoy. - DOAS’ market share in the passenger vehicle market was realized as 17,4%. - Renault leads with a 21,9% market share in the PC market. - Segment information: VW PC 3M19 Golf A/HB 32,2% 1 Passat B/NB 39,9% 1 Polo A0/HB 12,
Slide 6: 1Q 2019 Light Commercial Vehicle Market (%)
1Q 2019 LIGHT COMMERCIAL VEHICLE MARKET (%) Retail - Light Commerical Vehicle market decreased by 46% yoy. - DOAS maintained its 3rd position with 10,0% market share. - Leaders in the LCV market are Ford Otosan with 39,0% market share and Tofaş with 16,8% market share. - Segment information: • VW LC
Slide 7: 1Q 2019 Doğuş Otomotiv Brand Sales Performance
1Q 2019 DOĞUŞ OTOMOTIV BRAND SALES PERFORMANCE WHOLESALE UNITS 3M18 3M19 Δ VW PC 11.427 6.888 -40% VW LCV 5.149 1.619 -69% AUDI 3.596 1.620 -55% SKODA 6.732 2.167 -68% SEAT 1.941 1.062 -45% SCANIA 454 73 -84% PORSCHE 153 72 -53% BENTLEY 3 0 -100% LAMBORGHINI 0 1 0% DOAS TOTAL 29.455 13.502 -54% 7
Slide 8: Financial Performance
FINANCIAL PERFORMANCE Bentley Continental GT Convertible 8
Slide 9: Financial Performance (mn TL)
FINANCIAL PERFORMANCE (mn TL) Net Sales EBITDA Net Profit CapEx Total Assets Working Capital* -4% -6% * Comprised of cash and cash equivalents, trade receivables and inventory. 9
Slide 10: Margins %
MARGINS % Gross Profit Margin OpEx/Sales EBITDA Margin 11 -12 % %8 Kons. Maks EBIT Margin Net Profit Margin Wholesale Market Share* * Includes PV, LCV and HCV sales. 10
Slide 11: Income Statement
INCOME STATEMENT TL’000 31.03.2019 31.03.2018 Δ 2019/ 2018 Gross Profit Margin was realized as 14,1% with decrease Revenue 1.808.534 2.719.275 -33% of 33% in revenue. Direct cost of revenue -1.553.795 -2.395.051 -35% Impacts on revenue and direct Gross profit 254.739 324.224 -21% cost of revenue: •
Slide 12: Income from Associates
INCOME FROM ASSOCIATES TL’000 31.03.2019 31.03.2018 Δ 2019/ 2018 Associates vdf Group -36.802 16.860 -318% vdf -38.211 10.708 -457% vdf Servis 1.409 6.152 -77% Doğuş Sigorta 820 765 7% Yüce Auto (Škoda) 778 4.067 -81% TÜVTÜRK N&S (Consolidated) 25.785 7.862 228% Meiller-Doğuş* 0 32 -100% Doğuş Tekno
Slide 13: Balance Sheet
BALANCE SHEET TL’000 31.03.2019 31.12.2018 Δ Inventories: Number of vehicles remained ASSETS 4.592.707 4.798.662 -4% parallel, 8.484 units on 31.12.2018 and 8.153 units on 31.03.2019. Cash and cash 412.666 365.892 13% equivalents Financial Liabilities: Trade receivables 631.822 643.538 -2% Use of fi
Slide 14: Financing Costs
FINANCING COSTS Million TL 31.03.2019 31.03.2018 Δ 2019/2018 Financing Cost, net 160,241 95,394 68% Finance expenses 145,066 99,768 45% Interest expense on borrowings 132,654 93,679 42% Commission expenses on letters of guarantee 8,821 3,351 163% Other financial expenses 3,591 2,738 31% Foreign Exch
Slide 15: Financial Performance
FINANCIAL PERFORMANCE Million TL 31.03.2019 31.12.2018 Δ Working capital 2.232 2.375 -6% Net Cash Position -2.407 -2.403 0% Receivable Turnover (day) 32 22 48% Inventory Turnover (day) 70 53 31% Payable Turnover (day) 24 21 12% Million TL 31.03.2019 31.12.2018 Δ CAPEX* 6 179 -97% ROA -1,5% 1,7% -187
Slide 16: Key Material Disclosures in 1Q 2019
KEY MATERIAL DISCLOSURES IN 1Q 2019 • 26.03.2019 – Regarding the term of office of the Independent Board Member As approved by the CMB, Emine Gülden Özgül (Independent) was re-elected by the General Assembly to serve one year term on the Board of Directors. • 09.04.2019 – Termination of Credit Ratin
Slide 17: 2019 Expectations
2019 EXPECTATIONS No revisions from year-end – Renewed review is expected mid half year Mobility Digitalization Service Areas Operational Efficiency and Optimum Profitability Cautious Expenditure Management OEM Strategy: Maintain represented brands’ competitive position. Total Automotive Market Inve
Slide 18: Thank You – Q & A
THANK YOU – Q & A Porsche 70th Anniversary 18
Slide 19: Uyarı
• Uyarı • Dokümanlar ve eklerden oluşan bu sunumda (“Döküman”) yer alan tüm bilgiler, Doğuş Otomotiv Servis ve Ticaret A.Ş. (DOAŞ) hakkında bilgi, öngörü ve ifadeleri sunmak amacıyla DOAŞ tarafından hazırlanmıştır. Bu sunumdaki bilgilerin dogruluğu, yeterliliği ve eksiksizliği teminat edilmemiştir v
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