Investor Relations Presentation (Q4 2012 Results)
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Investor Relations Presentation (Q4 2012 Results) Investor Relations Presentation - Q4 2012 | 1 Agenda Doğuş Group Doğuş Otomotiv Macroeconomic Outlook Automotive Market Financial Performance New Projects Corporate Governance Investor Relations Presentation - Q4 2012 | 1 Doğuş Group Structure Banking & Financial Automotive Construction Media Tourism & Services Real Estate Energy Entertainment Services Corporate Responsibility Investor Relations Presentation - Q4 2012 | 2 Doğuş Otomotiv Doğuş Otomotiv aims at having a productive and profitable presence in every stage of the automotive value chain. Investor Relations Presentation - Q4 2012 | 3 Doğuş Otomotiv / Value Chain 2012 Presence in Every Link of Automotive Value Chain Core Business Automotive Related Ancillary Business Import and Replacement Parts Retail Used Vehicle Sales Production Finance Other Investments Distribution and After Sales Services Spare Parts&Logistics Quick Fix to all Brands Krone Automotive Financing DOD TÜVTURK Doğuş Otomotiv Used Vehicle Sales Independent Authorized Insurance Dealers Meiller* LeasePlan Yüce Auto Insurance *Subsidiaries **Representative Offices Investor Relations Presentation - Q4 2012 | 4 Widest Retail & Services Network in Turkey More than 500 customer points, widest among the competitors (*) DOAS brands, including VW, Audi, Porsche, Scania, Seat, Krone, VW Audi VW Krone Scania Porsche Marine, Scania Marine, Skoda as of December 2011 Seat Meiller Thermo King Investor Relations Presentation - Q4 2012 | 5 Success Story of DOAS Car park more Market Share than 900K units 12.6% 2011 2009 After Doğuş Otomotiv became the sole importer and distributor of VW 2010 brand vehicles in Turkey, VW brands’ market share increased from 0.5% Market Share 2007 2008 in 1993 to 12.6% in 2011 11.4% Consumer finance JV • Krone distributorship • Porsche with Volkswagen Financial agreement • Scania distributorship Services AG • Assembling Operations distributorship agreement • Merger of automotive • Skoda distributorship agreement • Customs duties on companies under Doğuş agreement and 2006 • Volkswagen and vehicles imported Otomotiv partnership with Yüce Audi distributorship from the EU Auto agreement abolished • Distributorship • Used car operations • Thermo King established distributorship agreement with Scania Industrial Volkswagen AG 2003 agreement and Marine 2004 • Krone Doğuş • Global Compact Engines SEAT distributorship Trailer Plant Agreement distributorship agreement and groundbreaking • Publishing agreement partnership with Yüce ceremony Sustainability Report signed Auto 1999 • Groundbreaking 2000 ceremony of Porsche dealership in Lausanne 1997 • Opening Meiller Doğu Tipper Plant Corporate 1995 • TÜVTURK established by the Governance 1996 • Establishing cooperation of AKFEN and TÜV SÜD Porsche Lausanne Rating (7.80 1993 1994 • Porsche dealership contract in Point) • Doğuş Otomotiv acquired D-Auto Suisse SA Lausanne 100% of SEAT • Lamborghini distributorship agreement • Initial Public Offering • Bentley letter of intent • Opening of OtoMotion of Doğuş Otomotiv • Volkswagen Marine Engines • Doğuş Otomotiv 15th • Oto-Fix Exspres Service established • Doğuş Otomotiv CSR agreement anniversary Market Share • Meiller distributorship and project: • Production agreement with • Opening of Porsche coproduction agreement “traffic is life” Krone Lausanne Market Share 5.8% • Krone - Doğuş coproduction agreement • Bugatti letter of intent 0.5% • LeasePlan partnership for fleet services Investor Relations Presentation - Q4 2012 | 6 Key Strengths of DOAS Leader in import market in Turkey with 16% m/s among c. 30 pure importers widest network One-stop shopping concept showroom, after sales services, consumer financing, insurance > 500 Widespread network and customer base, widest network with c. 500 customer points customer points Advanced financial risk management systems daily monitoring of the FX position Well-positioned multi-brand products 14 different brands youngest fleet Youngest fleet in the market with new launches every year, has more than 75 models Profit oriented growth strategy profitability always kept without losing market share > 80 models Creating its own brands DOD, Oto-fix, DOD City, DOD Prime Well-equipped IT infrastructure multi-brand products Customer focus, close relations with customers result in loyalty to the brands 14 different brands Investor Relations Presentation - Q4 2012 | 7 DOAS’ Position in the Market - 2011 Volkswagen sold 66,792 units in 2012 2011 sales. (The only brand in top 5 best-selling Volkswagen has highest market share ever(12,0%) brands that increased retail sales) with 28% improvement due to year 2011 Passat, Passat Variant and Scirocco retain 1st Volkswagen highest volume for both retail and position in their segments PV wholesales Golf got 2nd position in its segment VW PV’s ranked 2nd in the market SEAT Alhambra model has achieved the first rank in 20% increase in 2012 retail sales as compared with Turkey with 23 untis sold in B-MPV segment. Leader in the import market VW LCV ranked 3rd in the commercial vehicles market LCV Transporter is the best selling combi in its segment Amarok is the best selling pickup in its segment SCANIA has reached 1,701 units sales volume. KRONE increased its market share by 2% compared to the previous year with 674 units sales, continued its HCV leadership in export refrigerated trailer market. MEILLER sold 382 units, won the ‘Best Tipper of the Year 2012’ award for the 8th time. 18 Bentley and 3 Lamborghini sold in 2012 Porsches sold 497 units in 2012 -highest volume for both retail and wholesales Luxury Audi sold 13,720 units in 2012 (Highest sales ever). Audi has highest market share ever (2.47). Segment In the premium segment, Audi is A segment leader with A3 / A3 Sportback, A – SUV segment leader with Q3 and B – SUV segment leader with Q5. Investor Relations Presentation - Q4 2012 | 8 2013 Model Launches Beetle A3 Sportback Cayenne S Diesel Flying Spur Aventador New SEAT Leon Rapid New Engine Scirocco GTS RS 5 Cabriolet Yeni Cayman & Roadster New SEAT Toledo New Octavia option 13 liter RS 6 Avant Cayman S Superb facelift S3 Panamera Rapid Spaceback S3 Sportback Facelift RS 7 911 GT3 A3 Sedan 911 Turbo & A8 PI 911 Turbo S Investor Relations Presentation - Q4 2012 | 9 Macroeconomic Outlook Investor Relations Presentation - Q4 2012 | 10 -5.00 0.00 5.00 10.00 15.00 20.00 0.20 0.70 1.20 1.70 2.20 2.70 Auto LoanRates Inflation YoY Macroeconomic Indicators 03-03 01-08 4.33% 08-03 04-08 18.41% 02-04 07-08 (%) 08-04 (%) 10-08 01-05 01-09 07-05 04-09 01-06 07-09 07-06 10-09 12-06 01-10 06-07 04-10 12-07 07-10 06-08 10-10 11-08 01-11 05-09 04-11 11-09 07-11 AnnualCPI 05-10 TL 10-11 10-10 01-12 EURO 04-11 04-12 AnnualPPI 10-11 07-12 2.45% 6.16% 1.02% 0.55% 04-12 USD 10-12 09-12 01-13 100.0 105.0 Consumer ConfidenceIndex 1.10 1.30 1.50 1.70 1.90 2.10 2.30 2.50 Nominal ExchangeRates 60.0 65.0 70.0 75.0 80.0 85.0 90.0 95.0 06-07 01-07 08-07 05-07 10-07 12-07 09-07 02-08 01-08 04-08 06-08 04-08 08-08 08-08 10-08 12-08 12-08 02-09 04-09 04-09 06-09 08-09 08-09 USD/TRY USD/TRY Consumer ConfidenceIndex Investor Relations Presentation -Q42012| 10-09 11-09 12-09 03-10 02-10 04-10 07-10 06-10 11-10 08-10 EUR/TRY 10-10 03-11 12-10 06-11 02-11 04-11 10-11 06-11 Basket (0.5USD+0.5EUR) 02-12 08-11 Retail Sales Total LV LV Retail SalesTotal 11-11 06-12 12-11 09-12 02-12 04-12 01-13 06-12 0 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 08-12 1.79 2.08 2.36 11 10-12 12-12 Population & Demography Population Statistics Age Demography Over 7% GDP, young population and fiscal 87,364 reforms push the country towards stable 9% Above 60 13% and sustainable growth 83,873 29% 35-59 34% Population is increasing on an average of 1.5% 79,966 each year. 35% 15-34 30% 64% of population will between the age group 75,705 15 to 59 years. 26% 0-14 22% Share of people in the age group between 35 to 2010 2015 2020 2025 2010 2025 59 will increase by 5%. Economy Auto Industry Trade Balance (USD bn) Current fiscal reforms to push the country Real GDP GDP YoY Growth Trade Deficit Export Import to have the stable and sustainable economic 160.0 12.0 growth. 25.00 7.00 10.0 140.0 6.00 8.0 120.0 20.00 5.00 6.0 4.00 100.0 4.0 15.00 3.00 80.0 2.0 2.00 0.0 10.00 1.00 60.0 0.00 -2.0 Change (%) GDP YoY GDP - (Billion Turkish Lira) GDP - (Billion Turkish 40.0 5.00 -1.00 -4.0 -2.00 20.0 -6.0 0.00 -3.00 0.0 -8.0 Note: All figures are rounded; the base years is 2009. 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 Source: IMF, TurkStat, Frost Sullivan 01/03 01/04 01/05 01/07 01/08 01/09 01/10 01/11 01/12 01/13 Investor Relations Presentation - Q4 2012 | 12 Automotive Market Investor Relations Presentation - Q4 2012 | 13 World car markets and Volkswagen group deliveries to customers (1) January to December 2012 vs. 2011 World Car Market: 7.2% VW Group: 11.2% Car Market VW Group North America(3) Western Europe Central & Eastern Europe South America Rest of the World Asia Pacific 26.2% 23.2% 23.3% 17.6% 13.3% 12.4% 8.2% 5.9% 6.0% 4.6% -3.4% (1) Figures incl.