Transcript isysunum
PERFORMANCE & FINANCIAL RESULTS – 2009H1
August 27, 2009
Investor Relations
Performance & Financial Results – 2009H1 About Us
Overview of Capital Markets Our Performance Financial Results Expectations for the Rest of the Year
Investor Relations 1
About Us Activities
Corporate Finance
• Public Offerings • Mergers & Acquisitions • Project Finance • • • Privatization Advisory Strategic Planning Private Equity
Asset Management
• Discretionary Portfolio Management • • Mutual Funds Management Private Funds Management
Investment Advisory
• Individual Clients • Corporate Clients • Institutional Sales
Research
• • • Macroeconomy Sector Research Company Analysis • • Fixed Income Securities Analysis Strategy Reports and Presentations
Brokerage & Trading
• TL/FX Stocks • TL/FX Treasury Bond/ Government Bond • TL/FX Private Sector Bonds • TL/FX Derivatives
Investor Relations
Participations
Maxis Securities: (Share: 100%) London headquartered B Group capital markets licenced subsidiary Camiş Investment: (Share: 99.79%) Turkey’s one of the long-established brokerage houses IS Asset Management: (Share: 70%) Turkey’s leading Portfolio Management Company managing İş Group funds IS Investment Trust (Share: 29.1%) Turkey’s leading Investment Trust IS Private Equity: (Share: 29%) Turkey’s largest Private Equity
Shareholder Structure
Camiş Investment, 0.2% T. Şişe ve Cam Fabrikaları , 1.5% Free Float, 27.9% İş Leasing, 2.4% İş Factoring, 2.4% T. İş Bank, 65.6%
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Performance & Financial Results – 2009H1
About Us
Overview of Capital Markets
Our Performance Financial Results Expectations for the Rest of the Year
Investor Relations 3
Overview of Capital Markets Equity Market Volume (In TL Billion) Derivatives Market Volume (In TL Billion)
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408 352 2008H1
Source:www.imkb.gov.tr
2009H1 218 2008H1
Source:www.vob.org.tr
Higher volume and better market performance in the first half of 2009 284 2009H1
Investor Relations
Overview of Capital Markets Bills & Bonds Market Volume (In TL Billion)
429 332 2008H1
Source:www.imkb.gov.tr
2009H1 Lower interest rates and higher volume
Investor Relations 5
Overview of Capital Markets Asset Management
Asset Management ( In TL Million)
Mutual Funds* Pension Funds
Source:www.spk.gov.tr
28,347 24,439 5,167 2008H1 7,672 2009H1 Remarkable growth continues on the pension fund side Pension Funds grew 48.5% with respect to the same period of 2008
*A Type and B Type Funds.
Investor Relations 6
Performance & Financial Results – 2009H1
About Us Overview of Capital Markets
Our Performance
Financial Results Expectations for the Rest of the Year
Investor Relations 7
Our Performance Equity Market Volume and Market Share
(In TL Billion)
8.08% 32.9
6.15% 21.7
2008H1
Source:www.imkb.gov.tr
2009H1 Our trading volume increased 52.1% on annual basis, more than trippling the total market volume increase over the same period
Investor Relations
Derivatives Market Volume and Market Share
(In TL Billion)
15.16% 11.72%
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33.0
2008H1
Source:www.vob.org.tr
33.3
2009H1 Sustained leadership
Our Performance Bills & Bonds Market Volume and Market Share* (In TL Billion)
17.38% 10.7
10.64% 7.6
2008H1
Source:www.imkb.gov.tr
2009H1
*Among Brokerage Houses
Investor Relations
Continued to provide services in alternative markets tailored for the needs of our investors
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Our Performance Assets Under Management
AuM – IS Asset Management & IS Investment (TL Million)*
Mutual Funds portfolio size represents 22.6% of the market
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Mutual Funds** Pension Funds 5,300 6,400
Pension Funds portfolio size represents 19.5% of the total pension funds
1,500 967 2008H1 2009H1
Source:IS Investment
AuM size reached TL 9 billion surging by 28.6% on annual basis, while pension funds and mutual funds registered 55.1% and 20.8% growth rates respectively.
* Other Funds: Portfolio size of TL 733 mn and TL 1.011 mn for other funds for the periods of 2008H1 and 2009H1 respectively.
**A Type and B Type Funds.
Investor Relations
Performance & Financial Results – 2009H1
About Us Overview of Capital Markets Our Performance
Financial Results
Expectations for the Rest of the Year
Investor Relations 11
Financial Results Main Financial Figures*
31.12.2008 IS Investment TL (000) Total Assets Shareholders' Equity Net Profit 1,482,839 272,689 44,705 2008H1 2009H1 YoY 1,288,686 241,923 12,587 2,199,900 296,244 70.71% 22.45% 34,019 170.27%
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Robust financial perfomance *
Consolidatd
Investor Relations
Financial Results Breakdown of Operating Revenues
Breakdown of Operating Revenues (TL 000)
101.035
66.683
37.666
27.706
33.397
8.836
Interest and Trading Income Commission Income 1.124
955 Income from Corporate Finance Total Operating Revenues
Investor Relations
2008H1 2009H1
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Financial Results Asset Management
Asset Management Commissions TL(000)
5.191
4.139
4.941
5.898
7.390
4.175
3.287
3.251
2.437
2.504
2.611
9.367
IS Asset Management Consolidated
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2008Q1 2009Q1 2008Q2 2009Q2 2008H1 2009H1 We raised our management fees 58.8% when compared to 2008H1, while total portfolio size of mutual and pension funds grew 21% - The positive effect of our prime brokerage services has yet started to be seen on revenues
Investor Relations
Financial Results Price Performance
ISMEN Closing Price TL
2,25 2,00 1,75 1,50 1,25 1,00 0,75 0,50 0,25 0,00 ISMEN’s price has increased more than 170% with respect to January 2, 2009 in addition to the high amount of cash dividend payment on May 4, 2009
Investor Relations ROE 25.08.2008
25.08.2009
0.16
0.25
A visible ROE expansion on the back of robust operating performance
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Financial Results Dividend Policy
Is Investment’s Board of Directors declared the company’s dividend policy as distributing at least 30% of the attributable profit as in cash and/or bonus shares
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Performance & Financial Results – 2009H1
About Us Overview of Capital Markets Our Performance Financial Results
Expectations for the Rest of the Year Investor Relations 17
Expectations for the Rest of 2009
Our Maslak Branch and Suadiye liaison office are up and running in Istanbul despite the consolidation.
We will be more active in international capital markets through our Dubai liaison office as of end of 2009.
We keep our growing policy by openning new branches.
We have increased our market share in 2009 to clinch our uncontested leadership, our market performance approved this tendency as of 2009H1.
Single stock futures are expected to be seen in the last quarter of the year.
Extending Prime Brokerage service to new coming Asset Management Companies.
We have been assisting to establish new funds and intermediating for new funds.
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Investor Relations
Mr. Mert Erdoğmuş Assistant General Manager
Phone Fax E-mail : +90 0212 350 24 12 : +90 0212 350 20 01 : [email protected]
Mr. Ozan Altan Vice President
Phone Fax E-mail : +90 0212 350 28 72 : +90 0212 350 20 01 : [email protected]
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The Investor Relations Department is responsible for the timely communication of necessary, accurate, complete, comprehensible and easily information and explanations, which are not considered to be trade secrets to its shareholders and stakeholders.
accessible http://www.isinvestmentcom/w.wa_ir.aspx
Investor Relations
Disclaimer
The information in this report is prepared by “IS YATIRIM MENKUL DEGERLER A.S.” (IS Investment) and it is not to be construed as an offer or solicitation for the purchase or sale of any financial instrument or the provision of an offer to provide investment services. Information, opinions and comments contained in this material are not under the scope of investment advisory services.
Investment advisory services are given according to the investment advisory contract, signed between the intermediary institutions, portfolio management companies, investment banks and the clients.
Opinions and comments contained in this report reflect the personal views of the analysts who supplied them. The investments discussed or recommended in this report may involve significant risk, may be illiquid and may not be suitable for all investors. Therefore, making decisions with respect to the information in this report cause inappropriate results.
All prices, data and other information are not warranted as to completeness or accuracy and are subject to change without notice. Any form of reproduction, dissemination, copying, disclosure, modification, distribution and/or publication of this report is strictly prohibited. The information presented in this report has been obtained from sources believed to be reliable. Is Investment cannot be held responsible for any errors or omissions or for results obtained from the use of such information.
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IS Investment
KAVACIK AUXILIARY OFFICE AKARETLER BRANCH
Süleyman Seba Cd. No:44 B1 Blok D:10 34357 Akaretler İSTANBUL TURKEY Tel: +90212 326 87 00 Fax: +90212 326 87 01
ANKARA BRANCH İZMİR BRANCH KALAMIŞ BRANCH MASLAK BRANCH
Rüzgarlıbahçe Mevkii Kavacık Kavşağı Sismer Plaza Kat:4 34805 Kavacık İSTANBUL TURKEY Tel: +90216 538 14 00 Fax: +90216 538 14 01 Tahran Cd. No:3/8 06700 Kavaklıdere ANKARA TURKEY Tel: +90312 455 26 50 Fax: +90312 466 60 62 Akdeniz Cd. No:14 Birsel İş Merkezi D:501 35210 Alsancak İZMİR TURKEY Tel: +90232 488 90 00 Fax: +90232 488 90 01 Fener Kalamış Cd.
HEAD OFFICE
Tibaş-Belvü Sitesi A2 Blok D:3 34726 Fenerbahçe İSTANBUL TURKEY Tel: +90216 542 72 00 Fax: +90216 542 72 01 Büyükdere Cd.
Nurol Plaza No:71/16 34398 Maslak İSTANBUL Tel: +90212 367 85 00 Fax: +90212 367 85 01 İş Kuleleri Kule-2 Kat:12 34330 4. Levent İSTANBUL TURKEY Tel: +90212 350 20 00 Fax: +90212 350 20 01
YENİKÖY BRANCH
Köybaşı Caddesi İskele Çıkmazı No: 6 34464 Yeniköy İSTANBUL TURKEY Tel: +90212 363 01 00 Fax: +90212 363 01 01
YEŞİLKÖY BRANCH
Havalimanı Kavşağı EGS Business Park B3 Blok No:470 34149 Yeşilköy İSTANBUL TURKEY Tel: +90212 463 20 00 Fax: +90212 463 20 01
LEVENT REP. OFFICE
Yapı Kredi Plaza C Blok K: 9 Bölüm 25/B 34330 4. Levent İSTANBUL TURKEY Tel: +90212 282 00 18 Fax: +90212 282 00 19
SUADİYE REP. OFFICE
Bağdat Cd. Kılıçoğlu Ap. No:451 K:1 D:4 34740 Suadiye İSTANBUL Tel: +90216 380 03 53 Fax: +90216 416 91 71
ALMA ATA REP. OFFICE
Jeltozbekova Street 97 Block A2 Floor:2 050051 ALMAATA KAZAKHSTAN Tel: +77012 234803 Fax: +77273 340509
SUBSIDIARY MAXIS SECURITIES LTD
8 Princes Street London EC2R 8HL UNITED KINGDOM Tel: +44207 397 1431 Fax: +44207 726 2566
Investor Relations 21
PERFORMANCE & FINANCIAL RESULTS – 2009H1
August 27, 2009
Investor Relations