AUGUST 10, 2023
Q2 2023 EARNINGS
PRESENTATION
EARNINGS PRESENTATION
Disclaimer
The information and opinions contained in this document have been compiled by Hacı Ömer Sabancı Holding A.Ş. ("Holding") from
sources believed to be reliable and in good faith, but no representation or warranty, expressed or implied, is made as to their accuracy, completeness or correctness. No undue reliance may be placed for any purposes whatsoever on the information contained in this presentation or on its completeness, accuracy or fairness. This document contains forward-looking statements by using such words as "may", "will", "expect", "believe", "plan" and other similar terminology that reflect the Holding management's current views, expectations, assumptions and forecasts with respect to certain future events. As the actual performance of the companies may be affected by risks and uncertainties, all opinions, information and estimates contained in this document constitute the Holding's current judgement and are subject to change, update, amend, supplement or otherwise alter without notice. Although it is believed that the information and analysis are correct and expectations reflected in this document are reasonable, they may be affected by a variety of variables and changes in underlying assumptions that could cause actual results to differ materially. Holding does not undertake any obligation, and disclaims any duty to update or revise any forward looking statements, whether as a result of new information or future events. Neither this document nor the information contained within can construe any investment advice, invitation or an offer to buy or sell Holding and/or Its group companies' shares. Holding cannot guarantee that the securities described in this document constitute a suitable investment for all investors and nothing shall be taken as an inducement to any person to invest in or otherwise deal with any shares of Holding and its group companies. The information contained in this document is published for the assistance of recipients, but is not to be relied upon as authoritative or taken in substitution for the exercise of judgment by any recipient. You must not distribute the information in this document to, or cause it to be used by, any person or entity in a place where its distribution or use would be unlawful. Neither Holding, its board of directors, directors, managers, nor any of Its employees shall have any liability whatsoever for any direct or consequential loss arising from any use of this document or its contents.
EARNINGS PRESENTATION
H1'23 Highlights
Strong Results Amid
Challenges & Uncertainties
Topline(1) growth 59%
EBITDA(1) growth 42%
Net income(1) growth 50%
ROE 38%
Solid Balance Sheet with Strong Liquidity
Net debt/EBITDA(2) 0.5x
Consolidated Long FX position(2) USD511mn
Holding-only cash
USD176mn
Improved ESG Performance
Water consumption Reduction(2)
9%
SDG-linked Capex & Opex(4)
TL 8.2 bn
Scope 1 & 2 emissions(2) 11%
Women managers(4) 41%
SDG-linked revenues(4)
TL 18.6 bn
NAV(3) growth (y/y): 43% in USD
NAV(3) discount: 29% down by 6pps compared to a year ago
Non-bank Capex / Sales (y/y): reached 8.6% in H1 2023 vs 7.4% in H1 2022
(1)Topline excludes Holding dividend income. Bank revenue = Interest income + commission income + capital markets gains/losses + net derivative gains/losses. EBITDA and Net Income excludes non-operational and non-recurringone-off items.
- Non-bank (3)Please refer to Appendix for the details of our NAV. (4)Compared to 2021 fiscal year performance.
01
/05
Combined Financials
COMBINED FINANCIALS
Amid volatile global & local macro backdrop & ongoing inflationary pressures…
15%
1%
2018
20%
2018
Bloomberg Commodity & Energy Index (YoY Change)
Bloomberg Commodity Index | Bloomberg Energy Index |
87%
67% | |||||
33% | 32% | 40% | |||
28% | |||||
-8%-11% | -12% | |||
-39% | ||||
2019 | 2020 | 2021 | 2022 | H1 2022 |
Annual Turkish Consumer Price Index (YoY Change)
79% | ||||||
64% | ||||||
36% | ||||||
12% | 15% | |||||
2019 | 2020 | 2021 | 2022 | H1 2022 |
-14%
-27%
H1 2023
38%
H1 2023
Wage Increase* (Minimum Wage, Gross)
100%
323
280
166 | 201 | ||
144 | 140 | ||
114 | |||
2018 | 2019 | 2020 | 2021 | 2022 | H1 2022 | H1 2023 |
Average Foreign Exchange Rates* Change (YoY Change)
73% 75%
36%36%
25% | 29% |
14% |
2018 | 2019 | 2020 | 2021 | 2022 | H1 2022 | H1 2023 |
*Years are indexed to 2017=100 and quarters are indexed to 2021=100. | Basket (0.5USD+0.5EUR) |
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Disclaimer
Haci Ömer Sabanci Holding AS published this content on 09 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 August 2023 19:36:06 UTC.