Tumosan Motor Ve Traktor Sanayi As · BIST:TMSN
Tumosan Motor Ve Traktor Sanayi As — Investor Presentation (September 2015)
37 slides from Tumosan Motor Ve Traktor Sanayi As's investor presentation, September 2015
Slide 1: Investor Presentation September 2015
INVESTOR PRESANTATION SEPTEMBER 2015
Slide 2: Company Profile
Company Profile
Slide 3: Company Profile
Company Profile LARGEST MANUFACTURING 2015/9 CAPACITY IN TURKEY. NET SALES EBITA 322.7 Mn 32.5 Mn TUMOSAN, manufactures diesel engine and tractors in a closed NET INCOME EBITA MARGIN area of 93.000 m2 on its own property 1.6 Million m2. 27.1 Mn 10 % Engine manufacturing capacity: 75.000 items/ year-
Slide 4: Ownership Structure (Before IPO)
Ownership Structure Partner Capital (TL) Share in Capital (%) Ereğli Tekstil Turizm San. ve Tic. A.Ş. 82.090.905 78.18 % TL 105 Mn CAPITAL Muzaffer ALBAYRAK 6.586.381 6.27 % BEFORE IPO Bayram ALBAYRAK 3.264.543 3.11 % Nuri ALBAYRAK 3.264.543 3.11 % Kazım ALBAYRAK 3.264.543 3.11 % Mustafa ALBAYRAK 3.
Slide 5: Ownership Structure (Post IPO)
Ownership Structure Partner Capital (TL) Share in Capital (%) Ereğli Tekstil Turizm San. ve Tic. A.Ş. 76.285.492,15 66,33 % 2.000.000,00 1,74 % Muzaffer ALBAYRAK TL 115 Mn CAPITAL Bayram ALBAYRAK 2.000.000,00 1,74 % POST IPO Nuri ALBAYRAK 2.000.000,00 1,74 % Kazım ALBAYRAK 2.000.000,00 1,74 % Mustaf
Slide 6: Milestones - After Privatisation
Milestones - After Privatisation 2004 Albayrak group takeover through privatization. 1989 The licence agreement 1986 with FIAT terminated. 1981 The tractor and engine mechanical workshop Engine assembly commenced. was completed.. 1976 TUMOSAN has been founded as a State Economic Enterprise. 1993 . r
Slide 7: Milestones - After Privatisation
Milestones - After Privatisation 2014/11 Transaxle withPowershift, 2014/8 Engine with 4valves Tractor with 125 HP. Altay Battle Tank Powerpack Contract Negotiations. 2013 Tractor with 105 HP. 2009 2011 Introduction of Stage Production of 16x16 gearbox. III-A Engine. 2006 Introduction of new models w
Slide 8: Milestones - After Privatisation
Milestones - After Privatisation 2018 Harvester 2016 Cotton Picker ,Sprayer. 2015/9 Battle Tank PowerPack Technical service provider 2015/1 contract signed. MOU for High Speed Train. 2017 Production of New Generation 6.8 -7.8 L 6 Cylinder Diesel Engines . 2015/12 Loader – Backhoe Loader Production o
Slide 9: Dealers and Services Network
Dealers and Services Network 11 Cities 10 Dealers – 78Services 8 Cities 17 Dealers - 45 Services 12 Cities 11 Cities 11 Dealers- 32 Services 8 Cities 26 Dealers - 97 Services 10 Dealers - 70 Services 7 Ciities 8 Dealers - 34 Services 8 Cities 10 Dealers - 44 Services 92 Dealers and 400 authorized se
Slide 10: Dealers and Services Network
Dealers and Services Network 10 10
Slide 11: Research and Development Projects
Research and Development Projects Completed Projects Ongoing Projects • 4 Valve 4 cylinder • 115 HP Tractor. 125 HP and 4 valve 6 • 4WD Front Axle. cylinder 135 – 215 HP • 16x16 Gear Box. engine. • Stage III-A and Diesel • 24x24, 32X16 Gear Box. Engine. • 16x16 Full Powershift Stage III-B Diesel Eng
Slide 12: R&D Expenditure Breakdown
R&D Expenditure Breakdown Projects, Million TL 2014 2015 2016 2017 4 Valve 4 and 6 Cylinder Diesel 0,4 2,0 2,8 - Engine 32x16 Gear Box 0,1 0,8 - - 16x16 Full Powershift Transmission 0,2 - - - Stage IV 6 Cylinder 3,7 1,5 2,7 1,1 Cotton Picker 2,2 1,3 1,8 - Sprayer - 0,6 1,5 - ECU – TCU Design 0,1 1,3
Slide 13: Agricultural Sector
Agricultural Sector 13
Slide 14: Agricultural Sector
Agricultural Sector • 24.5 Million hectares of the existing 38 Million agricultural land is being cultivated. Agricultural Holdings • Turkey is amongst the first 15 countries in the world with the size of cultivated agricultural land. • The number of holdings decreased 4 to 2.3 Million. • Avarege la
Slide 15: 2015 Outlook
2015 Outlook • Favorable weather conditions. • Interest rate discount of agricultural credits continue. • Negative impact of elections and circus in Syria,Irak etc. 15
Slide 16: Tractor Market
Tractor Market i AUVUNUELE EEUU
Slide 17: Tractor Market of Turkey
Tractor Market of Turkey 62732 60304 53922 54731 53803 51032 49297 43706 42033 39571 36576 33989 34525 34541 24951 24241 22954 16639 10587 8127 14000 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 AVERAGE 35.346 TRACTORS. 17
Slide 18: Tractor Market of Turkey
Tractor Market of Turkey 2013/9 2014/9 2015/9 TOTAL 36.046 41.566 48.288 TUMOSAN 5.368 5.808 4.566 18
Slide 19: Tractor Park
Tractor Park • The size of tractor park is 1.500.000. • Average age is 23 years. • The average age of 704.000 tractor is 34 years old. •Government has a plan to modernize the park with a scrap incentive program. 25 years > 10-25 years 10 years < 19
Slide 20: Sales Volume (Turkish Statistical Institute Figures)
Sales Volume (Turkish Statical Institute Figures) Total Sales Total Sales Total Sales 36.046 2013/9 41.566 2014/9 48.288 2015/9 Market Share Market Share Market Share 14,35% 14,40% 9,64% TUMOSAN TUMOSAN TUMOSAN Sales Volume 5.368 Sales Volume 5.808 Sales Volume 4.655 SALES VOLUME (TSI) 2013/9 2014/9
Slide 21: HP Assessment
HP Assesment 35% 90 20,00090 2014 Market 2014 MarketSar e o Share 2014HHP 2014 Volume VOLUME o 18,000 30% 16,000 25% 14,000 20% 12,000 10,000 15% 8,000 10% 6,000 4,000 5% 2,000 0% 0 <5 H P 50‐‐5 H P 60‐‐‐6 H P 70‐‐‐7 H P 80‐‐‐8 H P 90‐‐‐940 H P 100‐‐‐19 H P 110‐‐‐19 H Ph <5 H P 50‐‐‐5 H P 60‐‐‐6 H P
Slide 22: Tumosan Sales Volume (Sales to Dealers)
TUMOSAN Sales Volume (Sales to Dealers) Sales and Production 2014/9 2015/9 % Sales (Sales to Dealers) 6.015 5.482 -8% Production 6.420 5.431 -15% 22
Slide 23: Tumosan Export Volume
TUMOSAN Export Volume 230 -55% 103 2014/9 2015/9 % EXPORT 230 103 -55% 23
Slide 24: Financial Review
Financial Review nu
Slide 25: Financial Review
Financial Review Million TL 2015/9 2014/9 Revenues 322.7 310.3 Gross Profit 70.8 48 Margin 21% 15% Operating Profit 33.3 26.9 Margin 10% 8% EBITA 32.5 23.9 Margin 10% 7% Net Income 27.1 19.4 Margin 8% 6% 25
Slide 26: Comparative Balance Sheet
Comparative Balance Sheet Liquid Asset Mn TL 2015/9 2014/9 Cash and Cash Equivalents 10.5 2.4 Financial Investment - 0.07 Commercial Receivables 98.4 96.7 Commercial Receivables from Non- Affillates 91.4 96.7 Commercial Receivables from Affilliates 7 - Other Receivables 10.6 - Receivables from Affil
Slide 27: Comparative Balance Sheet
Comparative Balance Sheet Short Term Liabilities, Mn TL 2015/9 2014/9 Short Term Loans 29.4 41.3 Current Portion of Amounts Payables after One Year - - Other Financial Liabilities 2.1 - Trade Payables 45.6 63.2 Current Payables to Affilliates 0,6 - Current Payables to Non- Affilliates 45 63.2 Due fr
Slide 28: Comparative Income Table
Comparative Income Table Real Operating Income, Mn TL 2015/9 2014/9 Sales Income 322.8 310.3 Sales Expense (-) -251.9 -262.3 Gross Profit 70.9 48 Research and Development Expenses -2,9 -1.4 Marketing and Sales Expenses -27.3 -13.4 Administrative Expenses -9.8 -5.6 Other Operative Income 7.5 2.6 Othe
Slide 29: Capex Development Expectation (TL Mn)
Capex Development Expect Casting (TL Mn) 22.7 11.2 10.0 9.5 8.97 5.2 3.4 2012 2013 2014 2015 2016 2017 2018 29
Slide 30: Capex Items
Capex Items • Installed tractor production capacity to be increased to 60.000. • Modernization of paint shop. • Expansion of Automated Guided Vehicle (AGV) application at assembly and material handling. • Shift from manual to compressed air tools for manpower and energy efficiency. • Upgrade of exis
Slide 31: Capex Breakdown
Capex Breakdown Items 2014 2015 2016 2017 2018 Capacity Increase 0.94 1.2 0.5 0.5 0.5 Production Line Modernization 7.01 7.1 9 10.2 4.2 Construction & Maintenance 1.02 1.2 0.5 0.5 0.5 Total TL Mn 8.97 9.5 10.0 11.2 5.2 31
Slide 32: Ownership Structure - TD
Ownership Structure - TD PARTNER Capıtal (TL) Share in Capital (%) TUMOSAN 10.000.000 %100 Total 10.000.000 %100 32
Slide 33: Tumosan Foundry
Tumosan Foundry Established in 2013 2014 Employees 33 39 Capacity (T/Y) 5.000 6.000 Cost Alloy Grey Iron Grey Iron Moulding Automatic-Horizontal Automatic-Horizontal Market Value 21.999.627,00 TL 21.999.627,00 TL 33
Slide 34: Income/Profit Realistic & Expectations
Income/Profit Realistic&Expectations YEAR CAPACITY (T/Y) PREDICTION(T) INCOME (TL) PROFIT (TL) 2014 6.000 5.100 17.875.000 1.787.500 2015 12.000 ? 19.250.000 2.062.000 2016 24.000 ? 74.800.000 7.480.000 2017 24.000 ? 74.800.000 7.480.000 2018 44.000 ? 112.750.000 12.250.000 34
Slide 35: Strategy
Strategy |
Slide 36: Strategy Guidance
rateg idance St y Gu T T PRODUCT DIVERSIFICATION ii T Focus on local industry. Meeting requirements of customers. Minimized capital expenditures. Short research and development period. Efficient team with profound expertise. MARKET DIVERSIFICATION
Slide 37: Thank You
Thank You… For further information please e-mail or call Tumosan Investor Relations. yatirimciiliskileri@tumosan.com.tr +90 (212) 468 19 88
Tumosan Motor ve Traktör Sanayi A.Ş. — Investor Presentation (September 2015) on 6ix