PINAR SU SANAY VE T CARET A. . PINAR SU SANAY VE T CARET A. . - - PowerPoint PPT Presentation

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PINAR SU SANAY VE T CARET A. . PINAR SU SANAY VE T CARET A. . - - PowerPoint PPT Presentation

Aug 17, 2023 576 likes •796 views

PINAR SU SANAY VE T CARET A. . PINAR SU SANAY VE T CARET A. . Pnar Su Highlights 2nd brand that comes to 363 PC, 168 PET dealers HACCP Food Security mind in PET and PC Management System Call Center

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SLIDE 1

PINAR SU SANAY VE TCARET A.. PINAR SU SANAY VE TCARET A..

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SLIDE 2

Pınar Su Highlights

  • 2nd brand that comes to

mind in PET and PC categories (Nielsen 2009)

Brand Recognition

  • 363 PC, 168 PET dealers
  • Call Center application

Distribution Network

  • HACCP Food Security

Management System

  • NSF Sufficiency

Certificate

  • ISO Quality Certificates

Quality Recognition Network

  • Natural spring water reaching

consumers in most natural and hygenic conditions

  • Know-How
  • Production from 3 sources close

to target markets

  • Clean room technology

Production

  • Production in all SKUs form

sources of Madran, Toros ve Gökçeağaç.

Product Portfolio

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SLIDE 3

74% 72% 69% 67% 26% 28% 31% 33%

Market Dynamics

Breakdown of Turkish Bottled Water Market Sales Volume

%5 %-1 %0 %14 %15 %11

Resin Prices (USD/Ton)

8,11 Bn Lt 8,7 Bn Lt 9 Bn Lt 9,3 Bn Lt

1,00 1,25 1,50 1,75 2,00 2,25 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2007 2008 2009 2010 PC PET

%5 %-1 %0

Per Capita Water Consumption by Countires (2010)

There are 264 firms having Ministry of Health license. Average capacity usage rate of the sector is %40. SUDER expects the per capita water consumption in Turkey to be 135 lt, in 2011.

Source: Suder (Packaged Water Manifacturers’ Association of Turkey)

Italy Germany Turkey Spain Belgium Per Capita Water Consumption 189 Lt 165 Lt 126 Lt 123 Lt 120 Lt

2008 2009 2010

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SLIDE 4

9% 8% 7% 5% 1% 9% 3% 14% 7% 13% 7% 3% 3% 0% 5% 10% 15%

2004 2005 2006 2007 2008 2009 2010

Market Dynamics - II

Growth rate of packaged water sector was below that of the GDP in 2010.

GDP vs. Turkish Bottled Water Market Growth Rate

  • 5%
  • 10%
  • 5%

2004 2005 2006 2007 2008 2009 2010

GDP Growth Rate Turkish Bottled Water Market Growth

Source: TUİK, SUDER

SUDER expects a growth of %5 in 2011, in the packaged water market.

The Bottled Water Sector in Turkey 2003 – 2010

2003 2004 2005 2006 2007 2008 2009 2010 2011*

Production (bn Lt) 5,7 6,2 7 7,8 8,1 8,7 9 9,3 9,8 Market Value (Bn TL) 0,6 0,8 1 1,2 2,5 3 3,1 3,3 3,45 Per Capita Consumption (Lt) 81 83 93 105 96 114 122 126 135

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SLIDE 5

Market Overview

Increasing investments

  • f

multinational firms like nestle, Danone and Coca Cola is a sign the room for growth

  • f

the market (M&As, spring source investments etc) Natural Mineral Water - PET

Pınar Su; 5% Competitor1 ; 15% Competitor2 ; 9%

Source: Volume Share, Nielsen, March 2011

etc) Trend in the market is to increase the number of spring sources in

  • rder to optimise logistic costs.

Small scale local producers are causing a fragmented market structure.

; 9% Competitor3 ; 9% Competitor4 ; 7% Competitor5 ; 5% Others; 50%

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SLIDE 6

Seasonality Exports (1Q11)

Sales and Distribution

Germany; 36% Cyprus; 8% Others; 15%

1Q 2Q 3Q 4Q

Share of exports in all sales for 1Q11 is 7%.

Breakdown of Sales Volume (PET/PC) (1Q11)

Holland; 23% U.K.; 18%

PET 48% PC 52%

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SLIDE 7
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SLIDE 8

Net Sales (Million TL) Net Profit (Million TL)

48,6 60,6 61,2 75,3 69,0 6,8 8,3 5,7 6,1 3,8

2006 – 2010 Performances

EBITDA (Million TL)

2006 2007 2008 2009 2010 2006 2007 2008 2009 2010

11,2 16,7 10,4 10,9 6,6 2006 2007 2008 2009 2010 Our gross margin has increased from %49 to %50,1, with operational cost improvements in 2010. On the other hand, stiff price competition in the market and costs for the strenghtening of sales and distribution led to a fall in net profit.

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SLIDE 9

Income Statement

(Million TL) March 31, 2011 March 31, 2010 Diff. % Change Operating Revenue

16,7 15,7 1,0 6,6

Cost of Sales

(9,1) (8,1) (0,9) 11,7

Gross Profit

7,6 7,6 0,1 1,1

Selling and Marketing Expenses

(5,6) (5,3) (0,4) 7,2

General and Administrative Expenses

(2,1) (2,2) 0,0 (1,8)

EBIT

(0,1) 0,1 (0,3) (227,4)

Other Income

1,5 1,3 0,3 20,5

Other Expenses

(0,0) (0,1) 0,1 (59,5)

Financial Income / (Expense) - (Net)

0,1 0,6 (0,4) (75,0)

Income Before Tax

1,5 1,9 (0,4) (20,2)

Taxes on Income

(0,1) (0,3) 0,2 (58,4)

Net Profit

1,4 1,6 (0,2) (13,2)

EBITDA

1,1 1,2 (0,2) (15,0)

Total Assets

102,1 98,4 3,6 3,7

Shareholders' Equity

74,0 72,0 2,0 2,8

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SLIDE 10

Profit Margins

Gross Profit Margins (%) Operating Profit Margins* (%)

33,1% 49,0% 50,1% 48,3% 45,8% 45,7% 10,6% 8,1% 2,5% 0,7%

  • 0,8%

2008 2009 2010 1Q10 1Q11 4Q10

EBITDA Margins** (%) Net Profit Margins (%)

* Ex. Other income and expenditures ** Earnings before Interest, Tax, Depreciation, and Amortization

2008 2009 2010 1Q10 1Q11 4Q10

  • 12,4%

17,1% 14,4% 9,6% 7,9% 6,3%

  • 2,3%

2008 2009 2010 1Q10 1Q11 4Q10 9,3% 8,2% 5,5% 10,2% 8,3%

  • 9,7%

2008 2009 2010 1Q10 1Q11 4Q10

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SLIDE 11

15,7 16,7 12,5

Quarterly Results

Net Sales (Million TL)

  • 6,6%

33,8%

1,2 1,1 (0,3) 1Q10 1Q11 4Q10

1Q10 1Q11 4Q10

EBITDA (Million TL)

!

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SLIDE 12

Basic Ratios, Net Financial Debt&Net Working Capital

March 31, 2011 December 31, 2010 (MillionTL) March 31, 2011 December 31, 2010

Current Ratio 1,36 1,41 Cash & Cash Equivalents 0,3 0,9 Leverage Ratio 0,28 0,24 S/T Bank Borrowings 1,9 1,7 ST Fin'al Debt/Total Fin'al Debt 0,58 0,52 L/T Bank Borrowings 1,4 1,6 Net Fin'al Debt/EBITDA 2,83 0,36 Net Financial Debt 3,0 2,4 Total Fin'al Debt/Equity 0,04 0,05

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Continuous focus on risk management and productivity Effective working capital management Strong balance sheet and liquidity management

  • 20
  • 10

10

Trade Receivables Trade Payables Inventories

Million TL

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SLIDE 13

Overview of 1Q 2011

  • Year 2010, while showing signals of departure of economic crisis, was a

year with similar consumer trends to crisis period. These circumstances have continued also in 1Q 2011. have continued also in 1Q 2011. Our 19 Lt. Demijohn sales have surged despite the stagnant appereance of the demijohn market. The positive effects of operations performed in 2010 towards empowering sales and distribution of Pınar Su and the Call Center, have started to be observed in 1Q 2011. A strong growth has been observed in our 10 Lt sales in 1Q2011.

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SLIDE 14

Strategies and Targets

To increase our market shares in both PET and PC businesses. To maximise our profitability by improving our processes with Lean 6 Sigma, with a cost oriented approach all through the value chain and without compromising quality.

  • To increase customer loyalty by, keeping our service quality high and

improving communication with consumers (Call Center project etc.) To maintin our optimum cost distribution model regarding spring source locations. To keep human resouce in the forefront for success 2011 TARGETS Growth in Net Sales : %15 - %17 EBITDA Margin: %9 - %10 Capex: 7 - 9 Million TL

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SLIDE 15

Yaşar Holding; 58% Halka Açık; 32% Yaşar Birleşik Pazarlama; 1%

Ownership & Participation Structure – Share Performance

Free Float

1 2 3 4 5 6 7 20 40 60 80 100 120

Relative and Absolute Performance of Pınar Su Shares Relative to ISE-TUM Pınar Süt; 9%

Pınar SU Pınar SU Yaşar Birleşik Pazarlama (%4,79) Yaşar Birleşik Pazarlama (%4,79) Desa Enerji (%6,07) Desa Enerji (%6,07) Yaşar Dış Ticaret (%1,76) Yaşar Dış Ticaret (%1,76) Viking Kağıt (%1,69) Viking Kağıt (%1,69)

  • ISE-TUM (Left Axis)

PINSU (Right Axis)

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SLIDE 16

This presentation does not constitute an offer or invitation to purchase or subscription for any securities and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. This presentation contains forward-looking statements that reflect the company management’s current views with respect to certain future events. Although it is believed that the expectations reflected in these statements are reasonable, they may be affected by a variety of variables and changes in underlying assumptions that could cause actual results to differ materially. Neither Pınar Su Sanayi ve Ticaret A.. nor any of its affiliates, advisors, representatives, directors, managers or employees nor any other person shall have any liability whatsoever for any loss arising from any use of this presentation or its contents or otherwise arising in connection with it.

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Company’s financial statements are available on www.kap.gov.tr and www.pinar.com.tr websites. Investor Relations Department Tel: 90 232 482 22 00 Fax: 90 232 484 17 89 yatirimciiliskileri@pinarsu.com.tr

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SLIDE 17

Thank You

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SLIDE 18

History

  • Potable water (for

the first time) in non-recycled package... Pınar aal

  • Pınar aal in

PVC packages

  • The first Madran water in plastic
  • bottle. Turkish Standards

Institution was awarded Golden Package with the plastic bottle of Madran Memba Suyu

  • Annual production

reached 100,000 tones. New resources were started to be searched.

  • Pınar aal

was exported to Germany for the first time

  • TSE ISO 14001

Environmental Management System Certificate

  • Pınar Madran water

packed in demijohns was introduced

  • Pınar, Yaam

Pınarım and Pınar Denge waters were launched in the market.

  • Marmara Water Inc.

Was established upon acquisition of two springs in Adapazarı and Isparta

  • Pınar Su receives natural

mineral water licenses for all three of its factories.

  • Merged with

Birma Tüketim Malları Ticaret A.. Page 18

1984 ’85 ’90 ’95 ’00 ’02 ’04 ’06 ’08 ’09 2010

  • Pınar Su plant was

established in zmir, Menderes to produce first bottled water in Turkey

  • %90 of total water exports
  • f Turkey is realised by

Pınar Su

  • Second factory of Pınar Su was

established in Nazilli, Aydın and Pınar Madran water, one of the top- notch waters in the world in terms of taste, met with the customers.

  • ISO 9002 Quality

Management System Certificate market.

  • TS ISO 9001-

2000 Certificate

  • www.pinarmutfagi.com site

was established.

  • TS 13001 HACCP

Food Safety System Certificate

  • Pınar Su Order Hotline

444 99 00 was established.

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SLIDE 19

Production

Efficiency in transportation and supply

Turkey’s first bottled natural spring water Modern production facilities and sources in 3 territories: Gökçeaaç (2003) / Adapazarı with 400,000 tonnes capacity Madran (1996) / Aydın with

Long term agreements with the State

Aydın - Bozdoan Isparta - Eirdir Sakarya - Hendek Madran (1996) / Aydın with 490,000 tonnes capacity Toros (2003) / Isparta with 210,000 tonnes capacity

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SLIDE 20

Supply

Brings unique gift of nature to consumers in its purest form

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