COMPANY PRESENTATION March 24, 2011 1
History & Achievements History BIM founded in September 1995 Modeled Germany's successful retailer ALDI IPO in 2005 Success to Date # 1. retailer both in total sales and number of stores 3.035 stores in Turkey 30 warehouses ( Regional Companies) # 220. retailer throughout the world in total sales (1) Eighth fastest growing retailer thoughout the world (1) Foreign Operations First foreign investment commenced in Morocco in April 2009 47 stores in Morocco as of today Signed MoU with Savola Group, leading retailer in Suudi Arabia Note 1: Reported by Deloitte & Touche based on the financials of the companies as of 31.12.2009. 2
Highlights No.1 retailer in Turkey High expected growth of the Turkish fast moving consumer goods market Distinct competitive position Strong track record of growth, even in difficult economic environments Significant future growth opportunities Strong management team Low cost structure through entire value chain Well developed portfolio of private label and exclusive products Significant purchasing power and benefits of scale Low macroeconomic and foreign currency risks No financial debt or financial leases 3
PROVEN BUSINESS MODEL SUCCESSFULLY IMPLEMENTED Store Location Store Layout Merchandising Management Financing Small store size (typically 200m 2-600m 2 ) Minimal shelving Limited SKUs (@ 600) Decentralised Rent vs. buy store Strategy Located on accessible "secondary" streets Minimal refrigeration High volume items (@ 80% of weekly needs) Private labels Incentivisation schemes Rigorous benchmarking of stores and regions Negative working capital Limited fruit and vegetables Impact Low rent Low capital expenditure requirements Fulfils basic consumer needs Easy to find locations Easy to restock High purchasing leverage over suppliers High productivity Private labels priced significantly lower than brands Highly motivated Flexibility to move locations 0.3% shrinkage Financing from negative working capital No debt or leases Minimises logistics and warehouse costs 4
MOST WIDESPREAD RETAILER THROUGHOUT TURKEY Samandıra (Đstanbul) (109) Esenyurt 1 (Đstanbul) (115) Esenyurt 3 (Đstanbul) (97) Trakya (111) Bursa (109) Kemalpaşa (Đzmir) (98) Sakarya (85) Güzelhisar (Ankara) (77) Samsun (96) Antalya (128) Adana (132) Konya (106) Trabzon (86) Şanlıurfa (90) Aydın (126) Kayseri (110) Gebze 1 (Đstanbul) (97) Balıkesir (85) Akyurt 1 (Ankara) (91) Gebze 2 (Đstanbul) (92) Erzurum (96) Çorum (85) Haramidere (Đstanbul) (122) Bulgaria = symbolizes region Gürcistan Greece Kırklareli Bartın Kastamonu Sinop Edirne Artvin Tekirdağ Istanbul Zonguldak Ardahan Karabük Samsun Kocaeli Rize Ordu Trabzon Yalova Sakarya Bolu Çankırı Amasya Giresun Kars Çorum Tokat G. Hane Ç. Kale Düzce Bayburt Bursa Bilecik Ankara Erzurum Bal kesir ı K. Kale Ağrı Yozgat Erzincan Eskişehir Sivas Kütahya Kirsehir Tunceli Bingöl Manisa Muş Afyon Uşak Nevşehir Elazığ Izmir Kayseri Malatya Bitlis Aksaray Konya Diyarbakır Isparta Siirt Niğde Denizli Aydın K.Maraş Batman Adıyaman Burdur Şırnak Mardin Muğla Karaman Ş.Urfa Adana Osmaniye Antalya G. Antep Kilis Đçel Hatay Suriye Ermenistan Iğdır Van Hakkari Irak Iran Esenyurt 2 (Đstanbul) (110) Ulukent (Đzmir) (94) Eskişehir (103) Gaziantep (103) KKTC Sancaktepe (Đstanbul) (112) Akyurt 2 (Ankara) (93) Düzce (77) Note: Numbers in parentheses indicate the number of stores of the regions. 5
LEADER IN NUMBER OF STORES Number of Stores 3200 3000 2800 2600 2400 2200 2000 1800 1600 1400 1200 1000 800 600 400 200 0 3.035 2.951 2.628 2.285 1.734 1.454 1.194 1.075 921 767 653 566 402 241 143 551 21 55 21 34 88 98 161 164 87 114 154 154 260 280 343 323 119 84 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011* New Stores Opened In A Year Year (*) 2011 figures correspond the store numbers as of March 24, 2011 6
FINANCIALS 7
LEADER IN SALES TL Million 7.000,0 Net Sales 6.574,0 1.200,0 6.000,0 5.000,0 4.000,0 3.000,0 2.000,0 1.000,0 Gross Profit 1.690,9 300,2 2.221,6 386,6 31,4% CAGR 2.978,4 525,0 4.242,4 696,6 5.323,4 944,9 1.104,7 1.100,0 1.000,0 900,0 800,0 700,0 600,0 500,0 400,0 300,0 0,0 2005 2006 2007 2008 2009 2010 200,0 Gross Margin 17,8% 17,4% 17,6% 16,4% 17,7% 16,8% 8
QUARTERLY NET SALES AND GROSS PROFIT TL Million 1.800,00 1.600,00 1.400,00 1.200,00 1.000,00 800,00 600,00 400,00 200,00 0,00 Net Sales Gross Profit 1.553,9 1.723,8 1.415,3 1.575,9 1,398.5 293,8 267,5 253,7 244,2 23% Growth 289,7 4Q09 1Q10 2Q10 3Q10 4Q10 300 250 200 150 100 Gross Margin 17.3% 17.0% 16.3% 16.8% 17.0%
ANNUAL EBITDA AND EBIT TL Million 380,0 330,0 280,0 EBITDA EBIT 314,2 258,7 356,4 291,5 230,0 180,0 130,0 80,0 72,0 47,0 104,9 78,2 160,7 127,4 189,2 145,9 30,0-20,0 2005 2006 2007 2008 2009 2010 EBITDA 4,3% 4,7% 5,4% 4,5% 5,9% 5,4% EBIT 2,8% 3,5% 4,3% 3,4% 4,9% 4,4% EBITDA EARNINGS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTIZATION EBIT EARNINGS BEFORE INTEREST AND TAX 10
QUARTERLY EBITDA AND EBIT TL Million 120 EBITDA 100 EBIT 94,5 93,9 100,5 80 77,9 63,3 79,2 67,4 77,1 83,8 60 51,4 40 20 EBITDA 0 4Q09 1Q10 2Q10 3Q10 4Q10 5.5% 6.0% 4.3% 5.5% 5.8% EBIT 4.5% 5.0% 3.3% 4.5% 4.9% EBITDA EARNINGS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTIZATION EBIT EARNINGS BEFORE INTEREST AND TAX
LIKE FOR LIKE SALES INCREASE Quarterly YTD 2010 2009 Q4 2010 Q4 INCREASE 2009-12 Months 2010 12 Months INCREASE Like For Like Sales (Mil TL) 1,224.0 1,350.2 10.3% Like For Like Sales (Mil TL) 4,754.7 5,299.3 11.5% Like For Like Basket (TL) 9.09 9.50 4.5% Like For Like Basket (TL) 8.97 9.29 3.5% Like For Like Customer Traffic (People Per Day) 699.0 736.5 5.4% Like For Like Customer Traffic (People Per Day) 682.7 735.0 7.7%
PRIVATE LABEL SALES CONTINUE TO GROW YTD 09 YTD 10 BRANDED 30.9% PRIVATE LABEL 58.4% BRANDED 31.4% PRIVATE LABEL 59.5% EXCLUSIVE 5.8% SPOT 4.9% EXCLUSIVE 4.2% SPOT 4.9%
LOW-CAPEX BUSINESS MODEL TL Million 240 220 200 180 160 140 120 CAPEX % of Net Sales 3,6% 4,4% 4,5% 191,2 2,5% 131,5 132,8 2,2% 141,9 5 4 3 % of Net Sales 100 80 60 40 1,6% 79,5 2 1 20 0 27,2 2005 2006 2007 2008 2009 2010 0 14
BEST INVESTMENT OPPORTUNITY 1200 1150 1100 1050 1000 950 900 850 800 750 700 650 600 550 500 450 400 350 300 250 200 150 100 100 127 112 126 134 161 144 174 119 214 125 282 308 132 147 327 155 376 183 395 188 130 527 119 592 448 364 386 121 126 682 165 784 178 891 190 992 185 942 221 1.185 222 1.065 216 June 10 Sep 10 Dec 10 March 21 15 March 10 BIM Share Price Growth Since IPO 965 % ISE 100 Index Growth 116 % Dec 08 March 09 Jun 09 Sep 09 Dec 09 BĐM Share Price ISE 100 Index Jun 05 Sep 05 Dec 05 March 06 Jun 06 Sep 06 Dec 06 March 07 Jun 07 Sep 07 Dec 07 March 08 Jun 08 Sep 08