Investor Relations Presentation

Transcription

Investor Relations Presentation
DOAS Profile 2016
Agenda
Doğuş Group
Doğuş Otomotiv
Macroeconomic Outlook
Automotive Market
Core Business Lines
Automotive Related
Ancillary Business
Corporate Governance
Social Media
Investor Relations Presentation - DOAS Profile - 2016 | 1
Doğuş Group Structure
Banking & Financial Services
Tourism & Services
Automotive
Construction
Entertainment
Media
Real Estate
Energy
Corporate Responsibility
New Initiatives
Doğuş Otomotiv
Doğuş Otomotiv aims at having a productive and profitable
presence in every stage of the automotive value chain.
Doğuş Otomotiv / Value Chain 2016
Presence in Every Link of Automotive Value Chain
Automotive Related
Ancillary Business
Core Business
Import and
Distribution
Retail
Replacement Parts
and After Sales
Services
Used Vehicle Sales
Finance
Other Investments
Spare Parts&Logistics
Quick Fix to all Brands
Automotive Financing
DOD
Yüce Auto
TÜVTÜRK
Used Vehicle Sales
Insurance
Doğuş Otomotiv
Independent Authorized
Dealers
Insurance
*Subsidiaries
**Representative Offices
Widest Retail & Services Network in Turkey
Widest retail and services network in Turkey with more than 520 customer points
(*) DOAS brands, including VW, Audi, Porsche, Scania, SEAT, Skoda,
Scania Marine as of December 2015
Audi
VW
Skoda
Scania
Porsche
SEAT
Meiller
Thermo King
Success Story of DOAS
Market Share
Car park more
than 1.5 mn units
After Doğuş Otomotiv became the sole importer and distributor of VW
brand vehicles in Turkey, VW brands’ market share increased from 0.5%
in 1993 to 20.6% in 2015.
•Porsche distributorship
agreement
•Customs duties on
vehicles imported from
the EU abolished
•Scania distributorship
agreement
•Volkswagen and
Audi distributorship
agreement
•Distributorship
agreement with
Volkswagen AG
Scania Industrial
and Marine
Engines
distributorship
agreement signed
SEAT distributorship
agreement and
partnership with
Yüce Auto
1999
1993
2000
1996
1994
Market Share
Market Share
0.5%
5.8%
•Initial Public Offering of
Doğuş Otomotiv
•Doğuş Otomotiv
Corporate
Responsibility project:
“traffic is life
2012
2014
2009
2008
2007
2006
2004
1997
1995
2015
2011
2010
11.4%
•Krone distributorship
agreement
•Assembling Operations
•Merger of automotive
companies under Doğuş
Otomotiv
2003
2013
•Doğuş Otomotiv 15th
anniversary
•Opening of Porsche
Lausanne
Market Share
Consumer finance JV
with Volkswagen Financial
Services AG
•Skoda distributorship
agreement and partnership
with Yüce Auto
•Used car operations
established
20.6%
•Doğuş Otomotiv acquired
100% of SEAT
•Bentley letter of intent
•Volkswagen Marine
Engines agreement
•Production agreement
with Krone
•Global Compact
Agreement
•Publishing
Sustainability
Report
Corporate
Governance
Rating
(8.63 Point)
Corporate
•Thermo King distributorship
Governance Rating
agreement
(7.80
Point)
•Krone Doğuş Trailer Plant
groundbreaking ceremony
•Groundbreaking ceremony of
Porsche dealership in Lausanne
•Opening Meiller Doğuş Tipper Plant
•Establishing Porsche Lausanne
D-Auto Suisse SA
•TÜVTÜRK established by the
cooperation of AKFEN and TÜV SÜD
•Porsche dealership contract in
•VDF acquires Scania
•Corporate Governance
Lausanne
Finance which performs
Rating (9.05 Point)
•Lamborghini distributorship agreement
services in heavy
•VW and Audi
•Opening of OtoMotion
commercial vehicle
distribution agreement
•Oto-Fix Ekspres Service established
sector.
for Iraq
•Meiller distributorship and
•Corporate Governance
coproduction agreement
Rating (9.25 Point)
•Krone - Doğuş coproduction agreement
•Maintain leadership
•Bugatti letter of intent
position in the total
•LeasePlan partnership for fleet services
automotive market.
•VDF acquired MAN
Finansman.
•Corporate
Governance Rating
(9.42 point)
•Production
partnership and
distributorship
agreement with
Krone came to
an end.
•Meiller production
came to an end
( though Meiller
distributorship
continues)
Key Strengths of DOAS
Leader in import market in Turkey with 20.6% m/s among c.35 pure importers
One-stop shopping concept showroom, after sales services, consumer financing,
insurance
Widespread network and customer base, widest network with c. 520 customer points
widest network
> 520 customer points
Advanced financial risk management systems daily monitoring of the FX position
Well-positioned multi-brand products 13 different brands
youngest fleet
Youngest fleet in the market with new launches every year, has more than 80 models
> 80
Profit oriented growth strategy profitability always kept without losing market share
Creating its own brands DOD, oto fix, DOD City, DOD Prime
Well-equipped IT infrastructure
Customer focus, close relations with customers result in high loyalty to the brands
models
multi-brand products
13
different brands
DOAS’ Position in the Market - 2015 FY
PV
VW PV sales are ranked as 1st in passenger vehicles market. (Ranked as 1st regarding total sales of both PV and LCV sales)
2015 PV sales of VW is 107,401.
2015 market share of VW is realized as 14.8%.
When compared with 2014 figures, in 2015 VW increased its sales by 27%.
Golf, The Beetle, Passat and Passat Variant retained 1st position in their segments.
SEAT, sold 16,911 units in 2015, achieving a record market share with highest ever sales volume. The brand is successfully continuing its
goal of sustainable growth.
In 2015 Skoda reached all time high sales performance with the delivery of 22,107 units. With the successful growth performance of 52%
the yearly market share of brand reached to 3.05%.
LCV
VW LCV has market share of 13.1% in 2015.
VW LCV sold 31,642 units in 2015.
VW LCV sales are ranked 3rd in the light commercial vehicles market.
VW LCV is the sales leader in import market. (29.5%, highest market share ever).
Transporter is the best selling vehicle in its segment for 5 years.
Crafter has reached 6,531 unit sales and 9.1% market share (highest sale and market share)
Amarok has reached 3,659 unit sales and 25.6% market share (highest sale and market share)”
Scania has reached 2,014 unit sales in 2014.
Scania has reached 3,415 unit sales and 10.2% market share in 2015 (highest sale and market share ever).
HCV
Luxury
Segment
Meiller has reached 407 units sales in 2015 and at the traditional “Best Commercial Vehicles and Brands” competition organized by
German magazines specialized in commercial vehicles sector, Meiller won the “Best Tipper of the Year 2015” award for the 11th year in a
row.
Thermo King sold 606 units in 2015 and increase its market share in the cold chain transportation sector. Thermo King was chosen the
best brand for the 11th time in the “Cooler Units” category through reader votes during the “Best Brand” competition organized Lastauto
Omnibus, Trans Aktuell and Fernfahrer magazines.
Bentley sold 19 units in 2015.
Lamborghini sold 6 units in 2015.
Porsche sold 861 units in 2015, which is the highest ever sales volume, leading to 46% increase compared to 2014.
Audi sold 20,279 vehicles in 2015, highest sales ever, leading to 13.9% increase compared to 2014.
Financial Performance
Sales Revenue (mn TRY)
Gross Profit (mn TRY)
EBITDA (mn TRY)
10,889
873
7,693
713
6,603
4,808
5,132
2011
2012
2013
750
597
2014
2015
Net Profit (mn TRY)
2011
2012
2013
2014
253
2015
2013
2014
2011
2013
2015
2014
2011
2012
2015
3,980
133
142
2012
2012
365
169
108
2011
337
Total Assets (mn TRY)
302
225
331
260
CapEx (mn TRY)
259
506
1,109
115
93
2013
1,905
2014
2015
2011
2,223
2012
2,464
2013
2,827
2014
2015
Margins
Gross Profit Margin (%)
OpEx/Sales (%)
13.9%
7.4%
EBITDA Margin (%)
7.9%
12.4%
6.7%
11.4%
11.3%
7.1%
6.0%
10-11% Target
6.4%
Consolidated
8% max
5.4%
5.1%
Solo
5% max
10.2%
5.3%
4.6%
4.5%
4.7%
4.6%
2014
2015
4.6%
3.3%
2011
2012
2013
2014
2015
Net Profit Margin (%)
2011
2012
2013
2014
Net Financial Debt/EBITDA
2011
2012
2013
Net Financial Debt/Total Equity
5.0%
1.37
3.70
3.4%
3.0%
2015
2.80
3.3%
2.8%
2.40
2.09
0.73
0.62
1.68
0.84
0.47
2011
2012
2013
2014
2015
2011
2012
2013
2014
2015
2011
2012
2013
2014
2015
2016 New Launches
NEW
Tiguan
Beetle
SPECIAL MODEL
Polo Allstar
Golf Allstar
Scirocco Allstar
Beetle Allstar
NEW
A4 Avant
A4 Allroad
R8
A5 Coupé
Q2
NEW
Carrera 4 / 4S / Turbo
Targa
718 Boxster
718 Cayman
NEW
Huracan Spyder
Bentayga
SPECIAL MODEL
Superb Laurin & Klement
Octavia RS 4X4
NEW in TR EUR 6
Distribution Vehicles
4X2 Trucks
6x2 Trucks
FACE LIFT
A3 Sportback
A3 Sedan
A3 Cabrio
Doğuş Otomotiv Strategic Goals
Fan
Customer
Employee
Satisfaction
Productivity
Market Share
Protection
Doğuş Otomotiv Strategic Goals
BE SIZABLE – BE CLOSE – BE CREATIVE
One Step Beyond Customer
Satisfaction: Turning Customers
into Fans!
Achieving Excellence through
Increase in Productivity!
• The Value and Care Centre (DİM)
• Connectivity
• Digital Experience “Audi City”
Maintaining Leadership in the
Automotive Market!
• Maintain the Acquired Market Share
Levels
• Creative Service Beyond
Expectations
• Customer Satisfaction Oriented Work
• Turkuaz Software
• Productivity Improvements for The
Shipment From The Dock
• Sustainable Developments in
Customer Points
• Reinforcement of Personnel
Infrastructure
Fan
Customer
Employee
Satisfaction
Productivity
Market Share
Protection
The First Condition of Creating
a Happy Customer is Happy
Employees!
• BİR’İZ” (Together) Employer Brand
• GO-School of Improvement Platform
• Talent Management and Equality at
Work
• DRIVE- Doğuş Automotive’s Route
Human and Training
Macroeconomic Outlook
Macroeconomic Indicators
YoY Inflation (%)
Annual CPI
Annual PPI
20.00
Nominal Exchange Rates
US$/TRY
EUR/TRY
Basket (0.5US$+0.5EUR)
3.18
3.40
3.10
13.67%
15.00
11.14%
10.00
2.80
12.98%
3.05
2.92
2.50
9.38%
8.81%
2.20
1.90
5.00
5.71%
0.00
1.30
TRY
EURO
US$
2.70
2.20
2.13%
1.70
1.44%
1.09%
1.20
1.15%
0.70
12-15
06-15
12-14
12-13
06-14
12-12
06-13
12-11
06-12
12-10
06-11
12-09
06-10
12-08
06-09
12-07
06-08
12-06
06-07
06-06
12-05
12-04
06-05
0.20
Consumer Confidence Index
12-15
08-15
04-15
12-14
08-14
04-14
12-13
08-13
04-13
12-12
08-12
04-12
12-11
08-11
04-11
12-10
08-10
04-10
12-09
08-09
Consumer Confidence Index
Retail Sales Total LV
180,000
160,000
140,000
120,000
100,000
80,000
60,000
40,000
20,000
0
105.0
100.0
95.0
90.0
85.0
80.0
75.0
70.0
65.0
60.0
03-09
06-09
09-09
12-09
03-10
06-10
09-10
12-10
03-11
06-11
09-11
12-11
03-12
06-12
09-12
12-12
03-13
06-13
09-13
12-13
03-14
06-14
09-14
12-14
03-15
06-15
09-15
12-15
Auto Loan Rates (%)
04-09
1.00
11-09
01-10
04-10
07-10
10-10
01-11
04-11
07-11
10-11
01-12
04-12
07-12
10-12
01-13
04-13
07-13
10-13
01-14
04-14
07-14
10-14
01-15
04-15
07-15
10-15
12-15
-5.00
1.60
Population & Demography
Population Statistics (’000)
Young population and fiscal reforms
push the country towards stable and
sustainable growth.
Age Demography
86,777
12%
Above
60
15%
84,247
31%
35-59
Population is increasing on an average
1.5% each year.
34%
81,322
33%
78,741
24%
2019
2023
2027
Economy
0-14
21%
2015
Share of people in the age group between
35 to 59 will increase by 3%.
2023
Auto Industry Trade Balance (US$ bn)
Trade Deficit
GDP YoY Growth
12.0
10.0
8.0
6.0
4.0
2.0
0.0
-2.0
-4.0
-6.0
-8.0
140.0
120.0
100.0
80.0
60.0
40.0
20.0
0.0
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15
25.00
GDP YoY Change (%)
Real GDP
GDP - (Billion Turkish Lira)
64% of population will be between the
age group 15 to 59 years.
30%
20.00
15.00
10.00
5.00
0.00
Export
Import
7.00
6.00
5.00
4.00
3.00
2.00
1.00
0.00
-1.00
-2.00
-3.00
12/03
06/04
12/04
06/05
12/05
06/06
12/06
06/07
12/07
06/08
12/08
06/09
12/09
06/10
12/10
06/11
12/11
06/12
12/12
06/13
12/13
06/14
12/14
06/15
12/15
2015
15-34
Note: All figures are rounded; the base years is 2009. Source: IMF, TurkStat, Frost Sullivan
Automotive Market
Volkswagen Group Global
Development world car market vs. Volkswagen Group Passenger Car Deliveries(1)
(Growth y-o-y in deliveries to customers, January to December 2015 vs. 2014)
VW Group Deliveries to Customers
(thousand) 2006-2015
World Car Market: 2.6% VW Group: -1.8%
Car Market
North
America
VW Group
Western
Europe
Central &
Eastern Europe
South
America
Rest of the
World
9,345 9,728
Asia Pacific
10,137 9,931
8,361
7,278
5,720
6,192 6,272 6,310
9.0%
6.1%
4.3%
5.1%
2.6% 7.6%
4.0%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
-3.0%
-7.7%
-23.3%
Source: Volkswagen Group: Financial sustainability on
core strengths Presentation, December 2015.
-21.2%
-29.0%
(1) Figures excl. Volkswagen Commercial
Vehicles, Scania and MAN. The Saveiro model,
previously Volkswagen Commercial Vehicles,
is reported in the Volkswagen Passenger Cars
brand retrospectively as of December 2015.
Global Passenger Vehicle Market Growth Forecast 2016 (mn units)
North America
(mn units)
Western Europe
Central & Eastern Europe
(mn units)
(mn units)
21.3
13.2
20.8
2.8
19.6
12.1
Change 2%
2014
2015
3.6
13.4
2016 F
2014
Change 2%
2015
Change 0%
2016 F
2014
Asia Pacific
South America
Rest of the World
(mn units)
(mn units)
(mn units)
4.7
5.2
33.3
4.2
31.6
30.4
Change 5%
2014
2015
2016 F
2015
2015
4.7
2016 F
4.7
3.8
Change -10%
2014
2.8
2016 F
Change 0%
2014
2015
2016 F
Source: Volkswagen Group: Financial sustainability on core strengths Presentation, December 2015.
Volkswagen Group - Well on track to achieve targets under Strategy 2018
Volkswagen Group Customer Satisfaction
Group profit before tax margin
(on a scale 1 to 101)
(%)
8.7
11.9
13.2
8.4
8.2
Leading in
customer
satisfaction and
quality
2007
2010
2013
6.0
6.3
7.83
2007
2008
2009
2010
2011
“I am happy to work at the Volkswagen Group”
Group deliveries to customer
(Employee opinion survey)
(mn units)
90%
6.93
1.2
Volkswagen Group
profit before tax
margin > 8%
Top
employer
7.1
5.8
2012
2013
9.7
Volumes > 10
million units p.a.2
84%
7.2
6.2
2007/08
2013
2007
2010
2013
1
Own calculation based on key industry studies on customer satisfaction with dealers, after sales and new vehicles.2 Including China. 3 Group profit before tax margin excluding the nonrecurring effect from the remeasurement of the Porsche put/call options from remeasurement at the contribution date of the shares already held.
Volkswagen Group Future Tracks - Paving the way to the future
Strategy for the beyond 2018
Profitability
E-mobility
Connectivity
Business
models
Product
cycles
Automated
driving
Top
employer
Volkswagen Group
profit before tax
margin > 8%
Cost
Future
trends
Economic
uncertainty
Leading in
customer
satisfaction and
quality
Revenues
Trade
barriers
Currencies
Economic
development
Regulations
Volkswagen Group 2018 Strategy
Volumes > 10
million units p.a.
Turkish Light Vehicle Wholesale Performance - Market vs. DOAS
LV Wholesale Market (thousand)
DOAS LV Wholesale (thousand)
DOAS Market Share
1,000
900
871
800
852
762
779
761
20.1%
700
592
600
15.9%
553
12.1%
15%
12.6%
11.3%
11.6%
10.6%
300
10%
9.0%
202
200
0
20%
496
500
100
20.8%
17.9%
619
400
25%
972
75
2006
69
2007
53
2008
50
2009
86
2010
109
2011
124
2012
152
2013
5%
153
2014
2015
0%
DOAS Wholesales Performance
WHOLESALES (unit)
2015
2014
Change
2013
2012
2011
VW
VW PV
VW LCV
AUDI
PORSCHE
BENTLEY
LAMBORGHINI
SEAT
SKODA
PC TOTAL
LCV TOTAL
LV TOTAL
SCANIA
KRONE
MEILLER
GRAND TOTAL
MARKET SIZE*
PV
LCV
HCV
TOTAL
DOAS Market Share
PV
LCV
HCV
TOTAL
140,088
106,677
33,411
21,100
877
19
6
17,212
22,435
168,326
33,411
201,737
3,291
158
407
205,593
112,958
85,134
23,191
17,070
601
21
2
12,540
14,397
128,178
24,068
152,246
2,014
716
309
155,056
24%
25%
44%
24%
46%
-10%
200%
37%
56%
31%
39%
33%
63%
-78%
32%
33%
112,958
88,890
24,068
15,025
542
21
4
11,334
12,362
128,178
24,068
152,246
1,672
752
386
155,056
92,900
66,993
25,907
14,514
510
18
3
5,730
10,404
98,172
25,907
124,079
1,701
474
382
126,636
82,989
55,764
27,225
12,121
466
11
6
6,115
7,571
82,054
27,225
109,279
2,929
817
572
113,597
726,477
245,027
33,652
1,005,156
582,117
179,919
31,061
879,679
25%
36%
8%
14%
663,728
187,840
28,111
879,679
556,584
222,434
30,525
809,543
598,706
271,812
37,276
907,794
23.2%
13.6%
9.8%
20.5%
19.3%
12.8%
5.9%
17.6%
19.3%
12.8%
5.9%
17.6%
17.6%
11.6%
5.6%
15.6%
13.7%
10.0%
7.9%
12.5%
(*) Source: Automotive Distributors Association
Turkish Automotive Industry
Production vs Sales
Sales
GDP vs Auto Sales
Production
1,400
1,359
1,200
972
1,000
600
0%
-50%
200
PC
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
-100%
Auto Industry Segmentation*
Auto Engine Segmentation*
LCV
PC
100%
Total Number of Road
Motor Vehicles:
20 mn units
12%
10%
8%
6%
4%
2%
0%
-2%
-4%
-6%
-8%
100%
50%
400
Change in GDP (right axis)
150%
800
0
Breakdown of Vehicles*
Change in Auto Sales (left axis)
Car 53%
Small truck 16%
Motorcycle 15%
Tractor 8%
Truck 4%
Minibus 2%
Bus 1%
Source: General Directorate of Public Security
Vehicle Ownership
LCV
Total Car Parc / 100 Household
Parc Density / 1000 Inhabitants
95%
587
590
555
74%
62%
44%
55%
52%
4%
3%
Import
* As of December 2015
291
35%
Diesel
A/T
below 1600 cc
10%
between 1600 cc
- 2000 cc
1%
above - 2000 cc
185
64
66
Turkey
Romania
126
UK
118
Germany
118
Greece
Turkish Automotive Industry
Oil Prices in Turkey (TRY) (2006-2015)
Oil Prices (TRY) (31.12.15)
6
4.61
5
4.47
4.29
4.17
4.07
3.43
4
2.67
3
2
1.73
SCT Rates in Turkey (%)
<1600 cc
1600-2000 cc
>2000 cc
(Passenger Cars)
11-04
84
60
60
27
37
130
80
80
Greece
Turkey
UK
Germany
Bulgaria
China
USA
Average Vehicle Age in Turkey (2015)
23
90
13
37
40
09-12
18
84
130
01-11
54
37
27
08-02
0
30
60
80
10-09
46
52
84
06-09
50
01-03
50
75
03-09
100
Italy
145
150
15
12
12
12
45
01-14
0
01.01.06
01.05.06
01.09.06
01.01.07
01.05.07
01.09.07
01.01.08
01.05.08
01.09.08
01.01.09
01.05.09
01.09.09
01.01.10
01.05.10
01.09.10
01.01.11
01.05.11
01.09.11
01.01.12
01.05.12
01.09.12
01.01.13
01.05.13
01.09.13
01.01.14
01.05.14
01.09.14
01.01.15
01.05.15
01.09.15
01.01.16
1
12
10
Motor
Vehicles
PC
Minibus
Bus
Small Truck
Truck
Motorcycle Tractor
Main Stipulating Factors to Automotive Demand
Stable Political Environment
Developing Economy (Stable Interest Rates&FX Prices)
Increasing Growth and GDP per Capita
Increasing Number of Credit Facilities
Trust in Public Institutions
Accelerating Urbanization
Demographic Structure and Young Population
Rising Life Standards
Positive Sentiments for Future
Automotive ownership becomes necessity
Low vehicle density
Stable Tax Regime and Low Oil Prices
Low Cost of Ownership
Right/True Brand
Positioning
in Market and
Demand
Core Business Lines
Import and Distribution
Volkswagen passenger cars retained its consistent growth trend and
success by increasing its market share to 14.8% with 107,401 sales.
These results positioned the Volkswagen passenger cars in the first rank
of the passenger vehicle market for the first time. Volkswagen passenger
vehicle has been chosen as «Lovemark» brand of 2015 once again this
year by the independent Research company “Ipsos”.
Audi increased its sales to 20,279 units in 2015 with growing model
range and expanding dealer network. Thus, vehicle park has increased by
18.4%, leading to a 18% increase in after sales turnover. Through Audi’s
“customer delight” motto, customer loyalty is 75%, still a benchmark
level in Europe.
SEAT increased its sales by 33% in 2015 and continued its trend to grow
above market. With successful product and communication strategies, a
structured network of Authorized Dealers and an aggressive sales and
fleet policy, SEAT increased its sales to 16,911 units and reached 2.3%
market share in passenger vehicle market. Thus, SEAT vehicle park
increased by 22% compared to previous year. SEAT Turkey won the 3rd
place in Service Advisor Category of Top Service People Competition, in
which best service advisors of each country compete.
Bentley sold 19 units and Lamborghini sold 6 units in 2015. Doğuş
Otomotiv broadest brand range and service network in the Turkish
automotive industry, and Bentley and Lamborghini, its top luxury brands,
offer “creative service beyond expectations in line with the company’s
vision.”
Porsche Turkey has increased its sales by 46% compared to 2014, as a
result of stronger Authorized Dealer network and Service Organization,
growing choice of models, increasing Customer Satisfaction and its
marketing activities
“In 2015, VW Commercial Vehicles has managed to maintain its steady
growth and increased its sales to 31,642 units. VW Commercial Vehicles
has become market leader in the imported commercial vehicle sales while
maintaining its third place in the overall market.”
Scania has reached 3,415 unit sales and 10.2% market share in 2015
(highest sale and market share ever).
Meiller has reached 407 units sales in 2015 and at the traditional “Best
Commercial Vehicles and Brands” competition organized by German
magazines specialized in commercial vehicles sector, Meiller won the
“Best Tipper of the Year 2015” award for the 11th year in a row.
The total sales of the land, industrial and marine engines of Scania
Engines have increased by 7% to 251 units. (highest sale ever)
Thermo King sold 606 units in 2015 and increase its market share in the
cold chain transportation sector. Thermo King was chosen the best brand
for the 11th time in the “Cooler Units” category through reader votes
during the “Best Brand” competition organized Lastauto Omnibus, Trans
Aktuell and Fernfahrer magazines.
Skoda brand, with the new launches of New Superb and Fabia models,
strengthening its position in fleet market succeed to increase the
deliveries to 22,107 units with 52% growth rate ended with a 3.05%
market share in 2015. The transition and expansion of the dealer network
into new corporate identity and design standards was completed 70% and
it is aimed to be fully completed in 2016.
Retail > DOĞUŞ OTO
Doğuş Oto represents seven brands (VW
Passenger Cars, VW Commercial Cars,
Audi, Porsche, SEAT, Skoda, and DOD), for
which it sells new and second-hand vehicles,
spare parts, and accessories at a total of 33
Authorized Dealers and 30 service points in
Istanbul, Ankara, and Bursa; it also offers its
customers insurance, financing, and aftersales support services.
Doğuş Oto operates on a total area of 229,000
square meters with 1,547 employees.
Doğuş Oto sold 59,933 new vehicles, marking
a new record. Its share in the retail sales of
Doğuş Otomotiv was 32.4% in 2015.
In 2015, the total number of customers served
rose to 240,201
represents
7 brands
one-stop shopping
concept
operating on
229,000 sqm
total area
Share of
32.4%
DOAS sales in 2015
Retail > D-AUTO SUISSE SA
Porsche Sales in Lausanne
In 2007, Porsche AG granted Doğuş Otomotiv
the marketing, sales and after-sales retail
operations of the Porsche brand in Lausanne,
Switzerland.
Switzerland’s one of the largest Porsche
outlet.
D-Auto Suisse Sa sold 361 new vehicles in
2015.
Total investment is CHF 23.6 mn.
A subsidiary of Doğuş Otomotiv, D-Auto
Suisse SA is located in Lausanne, Switzerland,
where its service area of 5,000 square
meters and its 39 employees offer Turkish
hospitality and the company’s experience to its
customers since September 2009.
2015
361
deliveries
total investment
CHF 23.6 million
Auto Industry Segmentation
Porsche AG Schweiz
DASSA
DASSA MS (%)
3,822
Switzerland’s
one of the largest
Porsche outlet
2,871
9.9%
1,530
2,111
1,955
1,801
9.6%
9.4%
8.8%
152
2010
159
2011
184
2012
8.7%
183
2013
275
2014
8.9%
338
2015
Retail > D-AUTO LLC
Expansion into new geographies
A company has been founded in July 2013
in Erbil under the name of D’Auto Limited
Liability Company (100% shares of D-Auto is
owned by Doğuş Otomotiv Servis ve Ticaret
A.Ş.) for the sole and exclusive importation,
distribution, sales and after-sales services
of VW and Audi passenger vehicles in Iraq
(initial capital was 150 mn Iraq Dinar (US$
125,000)). A place has been rented for 20
years.
In December 2015, the Iraq Distribution
agreement was signed with Volkswagen
Commercial Vehicles, and another one was
added to the represented brands.
D-Auto LLC provides the best quality service
to its customers, combined with its knowledge
and experience, in an area of 7,500 m2 with its
22 employees.
D-Auto LLC sold 37 vehicles and gave service
to 2,338 vehicles in 2015.
Once the political and economic situation is
stabilized in the region, the planned project
investment and dealer network structuring will
be resumed.
Initial capital
150 mn IQD
investment
Sales&After Sales Services on
7,500 m2
area
sales & service units
37 & 2,338
in 2015
Retail > Skoda
New Corporate Identity and Standards
Yüce Auto started the distributorship of Skoda
brand vehicles in 1989.
In 1998 50% partnership with Doğuş
Otomotiv started.
With current product portfolio including
Superb, Octavia, Rapid, Rapid Spaceback, Yeti
and Fabia, Skoda brand is covering in 85% of
total passenger car market.
Skoda is represented with 39 Dealers and 40
Service Points. Current car park is exceeding
150,000 vehicles.
2015 Sales
22,107 units
2015 Market Share
3.05%
Until the end of first half of 2016 it’s aimed to
complete the transition of the dealer network
to the new Corporate Identity and Design
standards.
Sales Growth
491%
2010-2015
Replacement Parts and After Sales Services > Parts & Logistics
Parts and Logistics employs state-of-the
art technology combined with the best
modern practices of synergism, creating
an unmatched service for the global brands
represented by Doğuş Otomotiv.
Parts and Logistics has undertaken a new leap
regarding its facilities by doubling its installed
capacity in 2013 in order to improve quality of
its service and to ensure sustainability of the
business volume for the next decade. Spare
parts stock warehousing and distribution is
gathered speed and error rate is minimized
by automation system which was created in
2014.
Parts and Logistics has implemented a new
“shipment from the dock” project as part of
its pioneering vision in vehicle logistics and
has started importing and stocking to the port,
carrying out vehicle distribution from the port
to the dealers with multiple transportation
companies, which has resulted in significant
improvements in client delivery times.
Spare parts availability has reached a 99%
level. Almost 50% common part usage brings
synergy in spare parts and logistics.
99%
availability
in Spare Parts
installed capacity
doubled
in 2013
shipment from the dock
new
project
Used Vehicle Sales > DOD
Used vehicles market is a non regulated
market in Turkey.
Used vehicle sales are expected to grow
exponentially in the coming years due to a
more organized structure related to consumer
awareness and much more advantageous
taxing options compared to new vehicles.
DOD is the largest corporate retailer of the
used car business.
DOD provides services in Turkey with 60
customer points.
23,125 units sold in 2015. (21,120 units sold
in 2014).
sales - 2015
23,125 vehicles
Corporate and
Pioneer
brand of used car market.
DOD SALES PERFORMANCE
23,125
20,206
15,659
servicing through
60
21,120
16,954
12,557
10,747
customer points in Turkey
2009
2010
2011
2012
2013
2014
2015
Automotive Related
Ancillary Business
Production > Meiller
Tipper Production with Meiller
Doğuş Otomotiv has become the main
exclusive importer and distributor of Meiller
brand in Turkey in February 2007.
As per the Letter of Intent (LoI) signed in
October 2007, Doğuş Otomotiv and Meiller
formed a joint venture (JV) company.
The JV is manufacturing Meiller brand tippers
and semi-trailer tippers in Turkey.
In the newly established JV company
Doğuş Otomotiv holds 49% stake, while the
remaining 51% is owned by Meiller.
capacity
3,000
units/year
407 units
sold in 2015
Meiller sold 407 units in 2015 (2014: 309
units)
* Production of Meiller Doğuş Damper Factory operating in
Sakarya has been halted on 19 November 2015. The final
decision regarding the production center will be clarified in
the forthcoming period. We have completely fulfilled our
obligations to our employees as part of our corporate values,
laws and the principles for respecting the rights of employees.
Following the halt of production, Doğuş Otomotiv will continue
as the distributor of the Meiller brand.
investment
EUR 10 mn for the plant
Finance > VDF
VDF acquires Scania and MAN Finance
The JV company established on 20 December
1999 to provide financing for Doğuş Otomotiv
Group Brands’ customers. The established JV
company is owned by Doğuş Holding (1%),
Doğuş Otomotiv (48%) and Volkswagen
Financial Services AG (51%).
Offering products and services nationwide,
VDF ensures ease of mind for its customers by
providing Vehicle and Service Credits from a
single point: the authorized dealer.
The entire loan transaction is finalized by the
VDF representative located at authorized dealers.
To get quick response, loan applications are
transferred to VDF through internet. VDF offers
other advantages in addition to single-point
loan services such as quick results, competitive
interest rates, and minimum formalities.
The takeover of Scania’s and MAN’s financial
service operations by VDF marks an important
step in expanding the product range. VDF started
to finance Scania heavy vehicles as of December
2014 and MAN heavy vehicles as of December
2015 after the completion of the mergers.
In 2015, New Credit Contracts realized as 78,111
units with a total amount of TRY 4,345 mn
increasing the total portfolio to 146,046 units.
new contracts
2011: 41,562 units (53% yoy increase)
2014: 58,338 units (3% yoy decrease)*
credits given
2011: TRY 1,500 mn (82% yoy increase)
2014: TRY 2,870 mn (13% yoy increase)*
2015: 4,345 mn (51% yoy increase)
portfolio
2014: 121,905 units (9% yoy increase)*
* Incl. Scania Finance
Finance > VDF INSURANCE
VDF Insurance, as an agent for 11 insurance
companies, provides services & products to
its customers such as motor insurance, traffic
insurance, credit protection insurance and
extended warranty.
VDF Insurance works with the Authorized
Dealers of VW Group brand and number of its
branches is 19 in 2015.
VDF Insurance increased the number of its
contracts by 23% in 2015, reaching a total of
314,757.
number of policies
tripled
in 4 years
314,757
205,941
number of VDF Insurance
branches is
Finance > VDF FACTORING
104,664
2012
2013
TRY 10.3 bn
in 2015
2014
2015
Insurance Penetration
Motor Insurance
Extended Warranty
41%
37% 38%
44%
29%
2011 2012 2013 2014 2015
transaction volume
256,554
136,043
2011
19
Active since May 2010, VDF Factoring
Services offers factoring and financing
services to 115 Authorized Dealers of Doğuş
Otomotiv. In 2015, VDF Factoring reached
a transaction volume of TRY 10.3 billion
and a total asset value of TRY 284 million.
Committed to the principle of continuous and
stable growth, VDF Factoring aims to increase
its business volume further in 2016.
Number of Insurance Contracts
13%
14%
16% 16%
11%
2011 2012 2013 2014 2015
Development of Assignments
DOAS
Yüce
44
4,139
2012
390
5,213
2013
693
5,979
2014
1,100
8,800
2015
Other Investments > TÜVTÜRK
TÜVTÜRK – a cash cow business of DOAS, Bridgepoint
and TÜV SÜD
TÜVTÜRK consortium was granted by Turkish
Privatization Administration the right to build &
operate MVISs in Turkey for 20 years in exchange of
US$ 552 mn.
189 fixed and 73 mobile inspection stations are fully
operational as of end-1Q09, with an investment of
US$ 300 mn.
Operation fees were collected from the suboperators
in exchange for the prepared stations for operations.
The BAs will share their revenues with the
government: 1st-3rd years: 30%; 4-10th years:
40% and 11-20th years: 50%
...and with TÜVTÜRK consortium: 1st-10th years
7% and 11-20th years: 20%
The MVIS business is expected to generate US$ 15
bn revenues in 20 years with US$ 2.5 bn EBITDA.
At the end of 8th year, nearly 46.9 mn vehicles have
been inspected, 16.6 mn vehicles were re-inspected,
12.4 mn vehicles underwent exhaust gas emission
measurements and enabled over 16.2 mn unsafe
cars to return safely back into traffic once again.
In 2015, periodic inspections of 8.1 mn vehicles
were completed and 2.8 mn vehicles underwent
exhaust gas emission measurements.
TÜVTÜRK has opened the TÜVTÜRK Academy
in order to further increase its service quality and
to train its personnel in areas such as inspection
quality, service standards, customer satisfaction,
effective customer experience, and flawless
operation. The TÜVTÜRK Academy will offer 740
days of training to 1,800 people annually.
rights to build & operate
20 years
in exchange of US$ 552 mn
expected revenues
US$ 15 bn
in 20 years
expected ebitda
US$ 2.5 bn
in 20 years
Other Investments > Doğuş Teknoloji
Growing with new investments
Doğuş Teknoloji creates a wide scope of
software products and services that answer
to actual demands and that reflect strong
technological and operational experience and
sectoral expertise.
Established in September 2011, Doğuş
Teknoloji is owned 54% by Doğuş Holding and
46% by Doğuş Otomotiv.
A new building is established on neighboring
premises of Doğuş Otomotiv headquarters.
The main areas of Doğuş Teknoloji’s
expertise include designing software and
information systems that responds to analysis
of business requirements (i.e. business
process automation, reporting, security,
etc.), development, installation, updating,
maintenance, error fixing and integration
of projects into these systems, maintaining
security, monitoring performance and
reporting abnormalities, consultancy services,
and managing all of all these processes.
Doğuş Teknoloji has “ISO/IEC 27001:2013
Information Security Management System”,
“ISO 22301:2012 Business Continuity
Management Systems” and “ISO/IEC
20000-1:2011 Service Management System”
certifications in the scope of e-invoice
application and related processes.
Affiliate
46%
Doğuş Otomotiv
Established
2011
ISO & ITIL
Certified
Corporate Governance
DOAS: First GRI reporter in automotive sector in Turkey
Corporate Responsibility (CR) at Doğuş Otomotiv
Economic Impact
Value Chain
Multiple Brand Management
Supply Chain
Business Continuity
Quality & Process Management
Lean Applications
Risk Management
Information Technologies
Sales & After Sales Services
Authorized Sales & After Sales
Environmental Impact
Climate Change
Environmentally Friendly
Technologies & Products
Energy Efficiency
Water Consumption
Waste & Scrap Management
Approach to
Sustainability
Social Impact
Products & Services
Employees
Employee Health &Safety
Customers
Customer Health &Safety
Traffic is Life
Human Rights
Community Engagement
As of May 2010, we signed UN Global
Compact.
Our 6th Corporate Responsibility Report is
published as the first “GRI G4 Comprehensive
Report” in the automotive sector.
Strategy
and
Vision
FIRST GRI
REPORTER IN OUR
SECTOR
IN TURKEY
Traffic is Life!
Since 2004, all projects aimed at increasing
traffic safety awareness throughout society
have been carried out as part of the “Traffic is
Life!” corporate responsibility platform.
“Traffic is Life” has organized trainings about
Traffic Safety for Doğuş Group employees.
Within this scope, 8,966 hours traffic safety
trainings was provided to the employees.
“Traffic is Life!” platform has reached 15,572
university students. The project was chosen
as a model application by United Nations.
In order to evaluate the Traffic is Life! platform
and exchange views on its development, we
organized a Traffic is Life! workshops with the
participation of authorized people from each
department within the Company in 2013 and
2015.
Traffic is Life which left behind 10th year
experience, gives special importance to
communication studies. Doğuş Otomotiv was
awarded by ADA Gladiator ‘Best Radio’ prize
with Traffic Is Life‘s radio PSA. Traffic is Life
Platform also has reached approximately 1000
person through traffic safety simulation with
3d oculus glass.
increasing
traffic safety
awareness
since 2004
“Traffic is Life!” platform
has reached 15,572
university students.
Doğuş Otomotiv was awarded by ADA Gladiator ‘Best Radio’ prize with Traffic Is Life‘s radio PSA
Sustainability Performance
Economic
Doğuş Otomotiv invested in a new center, called
“The Value and Care Center”, in Kavacık, Istanbul in
2014 where such activities as listening to customer
complaints and requests, coordinating roadside
assistance and organizing customer satisfaction
surveys are conducted.
The number of employees, whose suggestions
contributed to improvement projects, increased by
9% over 2013.
With 80 projects implemented in 2014, we expect to
achieve TL 1 million savings for our Company, or TL 3.5 Million, including the whole Authorized Dealer
network.
In 2014, a supplier satisfaction survey was conducted
for the first time, showing a satisfaction rate of 4.61
out of 5, applied to 57 suppliers.
In addition to Lean Leadership Trainings, 63
employees working in Logistics Warehouse received
Lean Basic Training in 2014. 13 of these employees
completed Lean Application Skills Development
Program, receiving detailed training on lean subjects
Environmental
Compared with the previous years our water
consumption decreased by 30% in 2014.
1,815,162 kg of waste engine oil was collected
from our Authorized Dealers and After-sales Service
Centers in 2014. A portion of waste engine oil was
sent to regeneration facilities to obtain base oil,
and another portion to cement and lime factories.
With the using of these portions as additional fuel
instead of conventional fuels (coal, petroleum coke,
etc.), we have prevented an extra 3,353 tons of CO2
emissions. This equals 152,400 trees or 380 hectares
of forest.
With the recuperation of the batteries, 60% of the
lead and 10% of the plastic is recycled and 20% of
the acidic water is neutralized. We achieved 270,000
kWh energy savings by recovering batteries, thereby
avoided 260 tons of CO2 emissions.
Approximately 13,048 trees were saved by the
recycling of packaging waste in 2014.
Though Economic and Safe Driving Techniques
(EVET) trainings provided by Volkswagen Commercial
Vehicles Brand in every province of Turkey, the
amount of savings per month is TL 770,000 or TL 9,250,000 annually.
Social and Ethics
As of 2014 year in Doğuş Otomotiv;
• Percentage of Female Employees: 22.5%
• Code of Ethics Training : 377 people, 188.5 man/
hours (Including human rights topics)
• Percentage of Female Employees Promoted: 34%.
A Total of 8,966 Hours Traffic Safety Education for 2,011 Employees;
• Traffic Education for 8,000 primary school students,
• 644 man/hours Mobbing Training,
• 377 People and 188.5 man/hours Code of Ethics Training were conducted in 2014.
For Product and Service Responsibility;
• 366 Authorized Dealer and After-sales Service Center audits were performed,
• Customer Satisfaction Score in sales:
109.93 / 120 and After-sales Service: 101.59 /120 were performed.
• With Kalitek Quality Control Project, 139,429 hours were saved.
• 377 employees including 70 blue-collars received
one-to-one Code of Ethics training, while 12
Authorized Dealers and After-sales Service Centers
were briefed about the Code of Ethics as part of our
corporate responsibility consultancy.
In line with its mission to create Fan Customers,
Doğuş Otomotiv has merged its dialog service (care
management), road assistance and call center
operations (CRM and reservations) in The Value and
Care Center with a new quality approach to increase
customer satisfaction in sales and after-sales services.
Social Media
Social Media
Volkswagen Turkey
Volkswagen LCV
3.6 mn+ Followers
The largest local followers in Turkey
180,906 new followers in 2015
7,316,097 user interaction
381,321,026 reach
The largest Volkswagen brand page
Response Rate: 56%
1.0 mn+ likes
Ranked 1st among LCV in Europe
7/24 Customer Service on Facebook
7/24 customer service
7/24 customer services on Twitter with @vwdiyalog24
215k+ Google+ followers
Largest Amarok Fan Page
13k Followers
25.2 mn+ views
5,428 new subscriber in 2015.
Total Subscriber: 12,280
Total view: More than 10 years 314 days
159k+ Followers
27k+ user content with #Volkswagenim
The largest brand account in automotive
The 2nd biggest Volkswagen account globally
1m+ like, 21k+ comment
2nd Largest Brand Page in Automotive
The 2nd largest brand page in automotive sector. (268K+
followers)
Largest Brand Profile in Automotive
47k+ followers
7/24 Customer Service on Twitter
More than 8.0 Mio views
More than 5Mio views for Transporter TV Commercial
SEAT
292,450 Followers Most liked content (347.2K)
Ranked 3rd among all SEAT countries on FB
12.6K Followers
17.1K Followers
Ranked 1st among all SEAT countries on Instagram
206,015 Google+ followers
Porsche
32K+ Followers The approximate number of posts in a month: 20
The approximate number of likes in a month: 48K +
The approximate number of shares in a month: 60 +
The number of likes in total within a year : 800K +
The number of followers in 2015 : 75K +
The number of video share in 2015: 10
The number of video views in 2015: 299,396
Number of followers in total: 4,536
The numbers of shares within a week: 4
Increase in the number of followers in a week: 60
Audi
967,779 Facebook Followers
Highest Engagement rate among its competitors
Second place among its competitors w/1,591,270 mn
interactions
5th largest number of fans among other Audi countries
242,665 Twitter Followers
Largest follower base among auto brands in Turkey
2nd most retweets in 2014
Ranked 3rd among all (30+) Audi countries
1,904 Youtube subscriptions
72,700 Instagram Followers
210,922 Google+ Followers
101 pins, 12 boards
8,489 Linkedin Followers
First Automotive brand to actively use Linkedin in Turkey
ŠKODA
390,764 followers
Ranked 3rd among all ŠKODA countries on Facebook.
(followers)
12th engagement rate among all ŠKODA countries on
Facebook.
6,489 followers
Ranked 3rd among all ŠKODA countries on Twitter.
552 subscriptions
13,518 followers
Google+: 220 followers
All data is as of March 2016
Investor Relations Contacts
Halide Müge Yücel
Investor Relations Assistant Manager
+90 262 676 90 58
[email protected]
Bahar Efeoğlu Ağar
Investor Relations Specialist
+90 262 676 90 59
[email protected]
Address: Şekerpınar Mah. Anadolu Cad. No: 22 ve 45,
41420 Çayırova/Kocaeli Turkey
Website: www.dogusotomotiv.com.tr
E-mail: [email protected]
[email protected]
Disclaimer
Doğuş Otomotiv Servis ve Ticaret A.Ş. (the “DOAS”) has prepared this presentation documents (the “Document”) consisting of documents and
appendixes thereto for the sole purposes of providing information and projections and statements relating to the DOAS (the “Information”). DOAS
cannot guarantee the accuracy, adequacy, or completeness of such information, and cannot be responsible for the results. The Information is
subject to change without any notice. Neither the Document nor the Information can construe any investment advise, or an offer to buy or sell
DOAS shares. This Document and/or the Information cannot be copied, disclosed or distributed to any person other than the person to whom the
Document and/or Information delivered or sent by DOAS or who required a copy of the same from the DOAS. Any and all information contained in
this document are strictly confidential.

Investor Relations Presentation

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