Migros Ticaret A.S. · BIST:MGROS
Migros Ticaret A.S — 9M 2014 Earnings Presentation
19 slides from Migros Ticaret A.S's earnings presentation, 2014
Slide 1: Migros Ticaret A.Ş. 9M 2014 Financial Results
Migros Ticaret A.Ş. The Best Organized Retailer in Turkey, 9M 2014 Financial Results 10th year in a row Bodrum Maya store, first LEED Gold certified store in Turkey
Slide 2: Disclaimer Statement
Disclaimer Statement Migros Ticaret A.Ş. (the “Company”) has prepared this presentation for the sole purpose of providing information about its business, operations and financial results. The information in this presentation is subject to updating, revision and amendment. The information in this pre
Slide 3: Contents
CONTENTS Markets Sales Update Expansion Financial Overview Ataşehir MMM Migros Key Financial Guidance Metrics Financial Format Results Summary Ataşehir MMM Migros 2
Slide 4: Sales in 9M 2014
Sales in 9M 2014 Accelaration in sales growth with 14.7% in 3Q 2014, over a year ago. New store openings and improved performance of existing stores continued to stimulate top-line growth in 3Q 2014. Consolidated sales reached TL 6,032 million in 9M 2014 corresponding to yearly growth rate of
Slide 5: Market Share Evolution
Market Share Evolution Strong market share in FMCG 16 Migros Market Share (%) Migros gained 50 bps market share in 3Q 2014 vs. 12 the same period of last year, accounting 15.5% 15.5% of FMCG sales in the organized sector in Turkey 15.0% 8 14.2% 4 5.7% 5.7% 5.8% 0 3Q 2012 3Q 2013 3Q 2014 In total F
Slide 6: Expansion
Expansion Sales Area Split by format A total number of 53 new stores opened in 3Q 2014, 135 new store openings in the first nine months of 2014, Store network reached 1,128 as of September 2014. Number of Stores - Total 1,128 995 Sept. 30, 2013 Sept. 30, 2014 as of Sept. 2014 5
Slide 7: Financial Overview in 3Q 2014
Financial Overview in 3Q 2014 Solid Gross Profit Generation Solid EBITDA Generation Gross profit increased by 17.2% y-o-y In 3Q 2014, EBITDA increased by 21.5% y-o-y to TL 166 million. to TL 613 million with a margin of 26.7% in 3Q 2014. Quarterly Gross Profit (TL million) Quarterly EBITDA* (TL
Slide 8: Key Financial Metrics
Key Financial Metrics Sustainable Sales Growth Sustainable EBITDA generation (mn TL) (mn TL) Sales EBITDA (*): excluding divested operations (*): excluding divested operations Stable Negative Cash Conversion** Net Debt/EBITDA Working Net Debt / Capital EBITDA (*): including divested operations (**):
Slide 9: Guidance 2014
Guidance 2014 .Sales growth : Double digit sales growth EBITDA margin : Full year EBITDA margin range 6.0% – 6.5% .Expansion target : Revised to (~200) stores including 3 hypermarkets for 2014 Present cities Cities not covered 8
Slide 10: Financials & Format Summary
Financials & Format Summary - Financials - Operations
Slide 11: Summary of Income Statement – 9M 2014
SUMMARY OF INCOME STATEMENT – 9M 2014 IFRS Consolidated Income Statement Summary (TL Million) 9M 2014 9M 2013 Net Sales 6,032.3 5,311.9 Cost of sales -4,424.5 -3,911.3 Gross Profit 1,607.8 1,400.6 Operating Expenses -1,358.2 -1,191.9 Other Operating Income / (Expense) -63.4 -37.8 Operating Profit 18
Slide 12: Summary of Balance Sheet – 9M 2014
SUMMARY OF BALANCE SHEET – 9M 2014 IFRS Consolidated Balance Sheet Summary (TL Million) 9M 2014 2013 Current Assets 2,139.5 1,980.7 Non-current Assets 3,824.4 3,815.9 Total Assets 5,964.0 5,796.6 Current Liabilities 2,727.1 2,360.7 Non-current Liabilities 2,342.7 2,605.7 Total Liabilities 5,069.8 4,
Slide 13: Migros Supermarkets
Migros Supermarkets Largest National Supermarket Chain Number of stores: 824* ─ 40*-3,000 sqm / 1,800* – 18,000 SKUs ─ Broad variety of fresh food products ─ Wide branded assortment of FMCG products ─ Modern, fashionable, complementary and seasonal non- food selection CRM applications for differ
Slide 14: Migros Jet
Migros Jet Fastest growing proximity stores Store size between 40*-300 sqm, 236 stores as of September 2014 Room for further concentration in the existing big cities and expansion into others. Migros Jet network reached 34 cities. Between 1,800* and 3,000 SKUs ─ Consistent Every Day Low Pricin
Slide 15: Tansaş Supermarkets
Tansaş Supermarkets Regional leader of the west coast Number of stores: 212 150-1,500 sqm / 3,000 – 15,000 SKUs ─ A strong regional brand & competitive pricing strategy ─ Diverse fresh food emphasis on meat and F&V ─ Friendly service / warm and localized layout Penetration: 6 cities 14
Slide 16: Macrocenter Supermarkets
Macrocenter Supermarkets Exclusive shopping Number of stores: 27 400 - 2,500 sqm / 10,000 SKUs ─ Upscale gourmet store serving with strong brand loyalty ─ Elegant design and store layout ─ Wide product range in delicatessen, appetizers and spirits. Premium quality in fresh products ─ Complementa
Slide 17: 5M Compact Hypermarkets
5M Compact Hypermarkets Lowest prices and wide assortment Number of stores: 24 Average size 4,500 sqm / 25,000 SKUs ─ Wide product range; rich FMCG and non-food assortment ─ N/F product portfolio focusing on kids & women; especially kitchenware & household textile, toys and cosmetics ─ Competiti
Slide 18: Wholesale & Food Service
Wholesale & Food Service Focus on Horeca Penetration Currently operating in 7 regions through dedicated sales team. Dedicated warehouses and customer delivery Penetration: 7 regions 17
Slide 19: International Operations
International Operations Kazakhstan Macedonia Number of stores: 27, including 4 hypermarkets, 22 Number of supermarkets: 14 supermarkets and 1 Macrocenter. Owns 1 shopping mall in Almaty Owns 1 shopping mall in Skopje Total sales area of 52,019 sqm Total sales area of 14,433 sqm ─ Serving