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KOCTASKOCTASMay 16th, 2012
Istanbul
I dIndex
▪ Macroeconomic Environment▪ Retail Market in Turkey▪ Business Highlights▪ Commercial Overview
E P l d S i tEconomy, People and Society
United Kingdom France Poland Turkey
Population - mn* 63,0 65,6 38,4 74,8Age St t eAge Structure
0-14 17,3% 18,5% 14,7% 26,6%15-64 66,2% 64,7% 71,6% 67,1%>65 16,5% 16,8% 13,7% 6,3%
Population Growth** 0,6% 0,5% -0,08% 1,2%Median age (years)** 40,0 39,9 38.5 28,5
GDP (purchasing power parity) - bn USD*** 2 250 2 214 765 6 1 026 0GDP (purchasing power parity) bn USD 2.250 2.214 765,6 1.026,0GDP (official exchange rate) - bn USD*** 2.481 2.808 531,8 763,1GDP - real growth rate*** 1,1% 1,7% 3,8% 8,5%GDP - per capita - USD*** 35.900 35.000 20.100 10.444Source: CIA – The World Factbook,
*July 2012 estimation; **2012 estimation; ***2011
With 75 million population and 8,5% growth in 2011, Turkey has the 16th largest economy in the world.
Europe’s Biggest EconomiesEurope s Biggest Economies(GDP based on Purchasing Power Parity, Trillion Dolar, 2010)
d
Austria
Switzerland
Greece
P l d
Netherlands
Belgium
Sweden
Italy
Spain
Turkey
Poland
Germany
UK
France
Italy
Source: IMF, World Economic Outlook, September 20110.0 0.5 1.0 1.5 2.0 2.5 3.0
Germany
Turkish economy is the 6th largest economy in Europe.
Sectoral Based GDP GrowthSectoral Based GDP Growth
GDP Growth (%)
Agriculture, hunting and
forestry Manufacturing Construction
Wholesale and retail
trade
Transport, storage and
communicationHome
ownership
Real estate, renting and
business act Other Total(%) forestry Manufacturing Construction trade communication ownership act. Other Total
Q1 3.8% 22.0% 9.0% 21.2% 12.7% 1.8% 12.8% 5.5% 12.6%Q2 2.8% 15.4% 21.7% 14.0% 10.4% 1.7% 10.5% 5.7% 10.4%Q3 0.9% 7.2% 23.7% 7.5% 6.0% 2.6% 2.2% 2.6% 5.3%Q4 4.5% 11.3% 18.7% 13.4% 13.8% 1.3% 4.5% 5.2% 9.3%
2010 growth 2 4% 13 6% 18 3% 13 6% 10 6% 1 8% 7 6% 4 7% 9 2%2010 growth 2.4% 13.6% 18.3% 13.6% 10.6% 1.8% 7.6% 4.7% 9.2%Q1 7.1% 14.9% 15.3% 17.3% 12.4% 2.0% 10.3% 8.3% 11.9%Q2 5.0% 9.1% 13.0% 14.2% 12.4% 1.8% 7.2% 6.3% 9.1%Q3 4.2% 9.2% 10.2% 11.5% 12.0% 1.3% 10.2% 7.8% 8.4%Q4 6.7% 5.2% 7.0% 3.9% 6.8% 2.5% 9.3% 3.9% 5.2%
2011 growth 5.2% 9.4% 11.2% 11.4% 10.8% 1.9% 9.3% 6.5% 8.5%
8.4%
6.9%
9.2% 8.5%
7%
9%
11% Real GDP Growth
g
4.7%
0.7%1%
3%
5%
%
-4.8%-5%
-3%
-1% 2005 2006 2007 2008 2009 2010 2011
Years
Despite the slowdown in the last quarter GDP growth was realized by 8 5% at the end of the year 2011Despite the slowdown in the last quarter, GDP growth was realized by 8.5% at the end of the year 2011.Wholesale & retail trade sector growth was 11.4% in 2011. The annual GDP growth expectation is between1.5-4% for year-end 2012.
GDP Growth RateGDP Growth Rate
7
8 GDP Growth Rate (Annual Average, %)
4
5
6
5.34.3 4.4
7.2
3.52
3
4
1.50
1
1982-1986 1987-1991 1992-1996 1997-2001 2002-2006 2007-2011
Source : TURKSTAT, Undersecretariat of Treasury
Annual average GDP growth of Turkey ise 3 5% between 2007 and 2011 mainly due to the globalAnnual average GDP growth of Turkey ise 3.5% between 2007 and 2011 mainly due to the globaleconomic crisis especially in 2008 and 2009
InflationInflation20% Inflation Rates
PPI CPI
CPI (YoY): 10.4%PPI (YoY): 8.2%
5%
10%
15%
‐5%
0%
07 07 07 07 07 08 08 08 08 08 08 09 09 09 09 09 09 10 10 10 10 10 10 11 11 11 11 11 11 12 12
Housing i t d
Mar‐0
May‐
Jul‐ 0
Sep‐0
Nov‐0
Jan‐
Mar‐0
May‐
Jul‐ 0
Sep‐0
Nov‐0
Jan‐
Mar‐0
May‐
Jul‐ 0
Sep‐0
Nov‐0
Jan‐
Mar‐
May‐
Jul‐
Sep‐
Nov‐
Jan‐
Mar‐
May‐
Jul‐
Sep‐
Nov‐
Jan‐
Mar‐
12%
14%
Sectoral Inflation Rates
maintenance and repair : 7.36%Furniture, household
i t d2%
4%
6%
8%
10%
equipment and house maintenance services : 11.76%
-4%
-2%
0%
Mar
-07
May
-07
Jul-0
7
Sep-
07
Nov-
07
Jan-
08
Mar
-08
May
-08
Jul-0
8
Sep-
08
Nov-
08
Jan-
09
Mar
-09
May
-09
Jul-0
9
Sep-
09
Nov-
09
Jan-
10
Mar
-10
May
-10
Jul-1
0
Sep-
10
Nov-
10
Jan-
11
Mar
-11
May
-11
Jul-1
1
Sep-
11
Nov-
11
Jan-
12
Mar
-12
Maintenanceand repair of dwelling
i hForeign Exchange Rates
EURO & USD vs. Turkish Lira
1 82.02.22.42.62.8
RL /
FX
1.01.21.41.61.8
-07
-08
-08
-08
-08
-08
-08
-09
-09
-09
-09
-09
-09
-10
-10
-10
-10
-10
-10
-11
-11
-11
-11
-11
-11
-12
-12
TR
Dec
-
Feb-
Apr-
Jun-
Aug-
Oct
-
Dec
-
Feb-
Apr-
Jun-
Aug-
Oct
-
Dec
-
Feb-
Apr-
Jun-
Aug-
Oct
-
Dec
-
Feb-
Apr-
Jun-
Aug-
Oct
-
Dec
-
Feb-
Apr-
TRL / EURO TRL / USD Linear (TRL / EURO) Linear (TRL / USD)
EURO apreciated by 8% and USD apreciated by 14% compared to April 2011
K GKoc Group
Overview: International Alliances:
The only Turkish company in “Fortune Global500” list, rising to 250nd palace in the 2010rankings.
The Group was named as `Most AdmiredCompany` in the world in the energy sector inFortune’s 2012 rankings.
Combined revenues corresponding to 9% ofCombined revenues corresponding to 9% ofTurkey’s GDP in 2011.
Consolidated revenues were TL75,740m in2011 with TL5,490m operating profit.
Exports corresponding to 11% of Turkey’s totalexports.
Operates in 23 countries in automotive,durable goods, food, retailing, energy, financialservices, tourism, construction and IT industries.
The Group employed 80,987 poeple, of which73,339 work in Turkey and 7,648 abroad.3,339 o u ey a d ,6 8 ab oad
I dIndex
▪ Macroeconomic Environment▪ Retail Market in Turkey▪ Business Highlights▪ Commercial Overview
P iti f R t il S t i T kPosition of Retail Sector in Turkey
Retail Sector is the 4th biggest sector after energy, education and health sectors in Turkey, estimated sector size is around 200 billion dollars and the share of organized retail sector is 40% in total.
According to the studies, as of 2010, there are 2 7 million employess working inthere are 2.7 million employess working in retail sector in Turkey.
The number of Shopping Malls in Turkey exceeded 298 at the end of the 2011 and it e ceeded 98 at t e e d o t e 0 a d tis expected to be 360 as of 2013. The rentable areas in malls were 6.7 million sqm at the end of 2010 and they are also going to be 10 million sqm in 2013.
Turkish retail sector is the 7th biggest sector in Europe and 10th in the world.
H I t M k t i T kHome Improvement Market in Turkey
Total HI Ma ket**
86,6%
Total HI Market**
Traditional
(10 stores) (5 stores)
(37 stores) 13,4%
Organized
(10 stores)
HI MARKET
$10 bln
(5 stores)
12%
Organized Market Shares**
Praktiker(2 stores) (5 stores)
12%
14%43%
Bauhaus
IKEA
Tekzen
(79 stores) (7 stores) 15%
12%
2%2%
Leroy
Baumax
Koçtaş
* As of March 2012** No official data for 2011 and available calculations are based on estimations.
2%2%
Competition OverviewCompetition Overview
Edirne
KırklareliBartın
Kastamonu SinopArtvin ArdahanEdirne
Tekirdağ İstanbul
Çanakkale
KocaeliYalova
Bursa
SakaryaDüzce
BilecikAnkara
Bolu
ZonguldakKarabük
Çankırı
Kastamonu
Çorum
Samsun
Amasya Ordu
Tokat GümüşhaneBayburt
GiresunTrabzon
Rize
Artvin Ardahan
Kars
Erzurum
Ağrı
Iğdır
Balıkesir
Manisa
İzmir
Kütahya
UşakAfyon
Eskişehir
Ankara Kırıkkale
Kırşehir
Nevşehir
Yozgat
Kayseri
Sivas
MalatyaElazığ
Tunceli
Erzincan
BingölMuş
Batman
VanBitlis
Ağrı
İzmir
Aydın Denizli
MuğlaAntalya
Burdur
IspartaKonya
Karaman
Aksaray
NiğdeKahraman
Maras
AdanaOsmaniye Gaziantep
Şanlıurfa
Adıyaman
DiyarbakırBatman
MardinSırnak
HakkariSiirt
y
Mersin
Hatay
Kilis
Store number 37 10 7 5 79 2 5
Cities 19 6 3 4 40 2 5
I dIndex
▪ Macroeconomic Environment▪ Retail Market in Turkey
▪ Business Highlights▪ Commercial Overview
Koçtaş TimelineKoçtaş TimelineFounded by Vehbi Koc as a wholesale retailer.1955
1996 Entered into the Home Improvement retailing business. 1996
2000
2001
p g
50%-50% JV agreement with Kingfisher Group.
Opening of first large format store in Kartal, Istanbul.
2005
As of December 2011, total store numbers reached to 36 in 19 cities
10 stores
Opening of first shopping mall store in Sisli, Istanbul.
2011
with 185k sqm selling space andTotal net sales are £332m.
In 2011, DIY & Home Improvementd
10 stores76k sqm
15 storesmarket constitutes 13.4% of the totalmarket and Koctas’s share is about 43% in organized market.
Medium15 stores71k sqm
11 storesThe first new concept store of
2012In the first quarter of 2012 total selling space reached to 190k sqm
38k sqm The first new concept store of Eryaman was opened in October 2011.
Mar In the first quarter of 2012, total selling space reached to 190k sqmwith the opening of Gaziemir store in İzmir that is our 37th store in Turkey.
KPIsKPIs
KPIs 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
l ( )Sales (TL m) 50 74 112 150 277 404 543 643 776 913Sales growth (%) 49% 50% 35% 84% 46% 35% 18% 21% 18%Number of Stores 5 5 5 7 10 15 21 26 30 36Selling Space (sqm k) 26 26 26 35 57 78 108 135 160 185Staff number 326 381 474 744 1.140 1.666 2.051 2.338 2.492 2.964
776
913900
1,000
35
40
404
543
643
776
500
600
700
800
20
25
30
L m
15
2126 30 36
50 74 112150
277
404
200
300
400
500
5
10
15
20
TL
5 5 5 7 10
0
100
0
5
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011Number of Stores Sales (TL m)
Average sales growth in the last 5 years is 37%
I dIndex
▪ Macroeconomic Environment▪ Retail Market in Turkey
▪ Business Highlights▪ Commercial & Marketing Overview
Brand Awareness (Unaided Recall)Brand Awareness (Unaided Recall)
2007 (n 508) 2008 (n 550) 2009 (n 539) 2010 (n 551) 2011 (n 555)
What is the first brand you remembered in home improvement and diy sector?
37 41 52 5643KOÇTAŞ
2007 (n=508) 2008 (n=550) 2009 (n=539) 2010 (n=551) 2011 (n=555)
30
29
17
24
20
16
27
24
16
33
31
17
39
27
23
BAUHAUS
PRAKTİKER
IKEA 17
10
9
16
9
7
16
12
11
17
12
7
23
19
8
IKEA
TEKZEN
CARREFOUR 9
6
7
2
2
11
6
2
7
4
2
8
7
6
1
CARREFOUR
METRO
ARÇELİK 6
6
23
2
6
26
2
3
24
2
5
13
6
43
9
ARÇELİK
DİĞER
AKLIMA BİR YER GELMİYOR 23 26 24 13 9AKLIMA BİR YER GELMİYOR
Base: 550 respondents from İstanbul, İzmir, Ankara, Bursa, İzmit, Antalya /April 2011
2011 Brand Awareness Research2011 Brand Awareness Research (conversion & awareness)
65
60
65
KOÇTAŞ
50
55
stür
me)
BAUHAUS IKEA45
sion
(Dön
üs
PRAKTİKER
35
40
Con
vers
TEKZEN
25
30
75 80 85 90 95 100 105 110 115 120
Total Awareness(Toplam Bilinirlik)
25
2011 Brand Awareness Research2011 Brand Awareness Research (conversion & retention)
60
KOÇTAS55
IKEA45
50
tma)
BAUHAUS
IKEA
40
tent
ion(
Tut
PRAKTIKER
30
35
Ret
TEKZEN
20
25
25 30 35 40 45 50 55 60
Conversion(Dönüstürme)
20
C t P filCustomer Profile
Target consumers 39 yrs old Well‐educatedg
Families
Young couples Teenagers Working
50‐50% male‐female
63% married
37% AB, 33% C1 SEC
Teenagers gon it
High internet usage – 66%* 46% visit alone
Price & payment conditionsusage 66%
to get info, make research, enter facebook
54% visit with family/friends
Product quality & variety
ConvinienceImportant
factors in DIY shopping
*42% in Turkey
shopping
Source: Koçtaş Customer Profile Survey, 2010, will be updated in July 2012
P ice Pe ception Resea ch
Which DIY / home improvement store have the lowest prices?
Price Perception Research
50.5
18.6
Koçtaş
Ikea
%33
%15
15.2
7.4
Praktiker
Tekzen
%18
%7
5.1
0.8
Bauhaus
Leroy Merlin
%13
0.2
0.2
1 0
Baumax
Carefour
Yok / ucuz bılduğu 1.0
1.00 10 20 30 40 50 60
Yok / ucuz bılduğumarka yok
Bilmiyor / fikri yok /hatırlamıyor
2009 results for comparison
Base: 1105 people who live in İstanbul, Ankara , İzmir, Bursa, Antalya, Adana, Kayseri, Malatya, Konya & Trabzon and shop from DIY stores held on 15June-15July 2011 / compared with 2009 results
CRM Activities ytd 2012y
500.000 Mailing
600.000 SMS
%50 of turnover
ith
Min 300 CRM
i Mailingyearly
SMS yearly
with parocards
campaignsyearly
2,5 million KOCTAS KART alive!
136 cards
,%50 0f them are ACTIVE!
in 2011
30.000 trade 600 active cards, March YTD
cardholders approx.
Min 12% of 5% paropoint gift 10% discount for Fabel paints Special campaigns for paint
total sales with trade cards
shopping
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