Transcript isysunum - IS INVESTMENT

PERFORMANCE & FINANCIAL
RESULTS – 9M09
November 12, 2009
1
Performance & Financial
Results – 9M09
About Us
Overview of Capital Markets
Our Performance
Financial Results
Expectations for the Rest of the Year
About Us
2
Activities
Subsidiaries
Brokerage & Trading
• TL/FX Stocks
• TL/FX Treasury Bond/ Government
Bond
• TL/FX Private Sector Bonds
• TL/FX Derivatives
Maxis Securities: (Share: 100%)
London headquartered B Group capital markets licensed
subsidiary
IS Asset Management: (Share: 70%)
Turkey’s leading Portfolio Management Company managing IS
Group funds
Investment Advisory
• Individual Clients
• Corporate Clients
• Institutional Sales
IS Investment Trust (Share: 29.1%)
Turkey’s leading Investment Trust
Asset Management
• Discretionary Portfolio Management
• Mutual Funds Management
• Private Funds Management
Corporate Finance
• Public Offerings
• Mergers & Acquisitions
• Project Finance
Research
• Macro economy
• Sector Research
• Company Analysis
Camiş Investment: (Share: 99.79%)
Turkey’s one of the long-established brokerage houses
•
•
•
Privatization Advisory
Strategic Planning
Private Equity
•
•
Fixed Income
Securities Analysis
Strategy Reports
and Presentations
IS Private Equity: (Share: 29%)
Turkey’s largest Private Equity
Shareholder Structure
Camiş
Investment,
0.2%
Free Float,
27.9%
T. Şişe ve Cam
Fabrikaları ,
1.5%
İş Leasing,
2.4%
T. İş Bank,
65.6%
İş Factoring,
2.4%
3
Performance & Financial
Results – 9M09
About Us
Overview of Capital Markets
Our Performance
Financial Results
Expectations for the Rest of the Year
Overview of Capital Markets
Equity Market Volume (In TL Billion)
4
Derivatives Market Volume (In TL Billion)
680
478
519
325
2008/9
Source:ISE
2009/9
2008/9
Source:TurkDEX
Equity and derivatives market exceeded the full-year of 2008
2009/9
Overview of Capital Markets
5
Bills & Bonds Market Volume (In TL Billion)
649
499
2008/9
2009/9
Source:ISE
Lower interest rates and higher trading volume
Overview of Capital Markets
6
Asset Management ( In TL Billion)
Mutual Funds*
Pension Funds
29.8
24.9
5.8
2008/9
8.5
2009/9
Source:CMB
Pension fund business is growing
*A Type and B Type Funds.
Pension Funds grew
47% with respect to
the same period of 2008
7
Performance & Financial
Results –9M09
About Us
Overview of Capital Markets
Our Performance
Financial Results
Expectations for the Rest of the Year
Our Performance More Volume & Bigger Market Share
8
Equity Market Volume and Market Share
Derivatives Market Volume and Market Share
(In TL Billion)
(In TL Billion)
13.48%
8.21%
14.19%
6.69%
64.5
55.9
46.2
34.7
2008/9
2009/9
Source:ISE
We increased our trading volume 61% annually,
doubling the total market volume increase over the
same period
2008/9
2009/9
Source:TurkDEX
Sustained leadership
Our Performance
9
Bills & Bonds Market Volume and Market Share* (In TL Billion)
15.53%
11.63%
14.7
12.2
2008/9
2009/9
Source:ISE
More buy and hold, less transaction
*Among Brokerage Houses
Our Performance
10
AuM – IS Asset Management & IS Investment (In TL Billion)*
Mutual Funds portfolio
size represents 23.5%
of the market
Mutual Funds**
Pension Funds
7.0
5.3
1.1
2008/9
Pension Funds portfolio
size represents 19.9%
of the total pension
funds
1.7
2009/9
Source: IS Investment & IS Asset Management
AuM size reached TL 9.9 billion surging by 41.4% on annual basis, while pension funds and mutual funds registered
54.5% and 32% growth rates respectively
* Other Funds: Portfolio size of TL 692 mn and TL 1.218 mn for other funds for the periods of 2008/9 and 2009/9 respectively.
**A Type and B Type Funds.
11
Performance & Financial
Results –9M09
About Us
Overview of Capital Markets
Our Performance
Financial Results
Expectations for the Rest of the Year
Financial Results Sound Performance
IS Investment*
31.12.2008
12
2008/9
2009/9
YoY
1,482,839
1,444,069
2,182,590
51%
272,689
266,190
321,008
21%
44,705
36,812
55,356
50%
TL (000)
Total Assets
Shareholders' Equity
Net Profit
Strong financial structure with enhanced profitability
* Consolidated
Financial Results Breakdown of Operating Revenues
Diversified Revenues
13
Financial Results Asset Management
14
Asset Management Commissions
(In TL Million)
16.3
13.1
IS Asset Management
Consolidated
10.2
6.9
5.7
5.2
4.2
3.3
2.4
2008Q1
2.5
2009Q1
4.3
4.1
3.3
2.6
2008Q2
7.5
2.5
2009Q2
2008Q3
2009Q3
2008/9
2009/9
We raised our management fees 60% on annual basis - We see positive effect of our prime brokerage services
Financial Results Price Performance
15
ISMEN Closing Price TL
3,00
60.000
ISMEN Closing Price (TL)
ISE 100 (Right Axis)
2,50
50.000
2,00
40.000
1,50
30.000
1,00
20.000
0,50
10.000
0,00
0
10.11.2008
10.11.2009
P/E
1.98
4.9
P/BV
0.25
1.1
ISMEN’s price has increased 253% with respect to January 2, 2009 . This upswing indicates 98% and 85%
higher performance relative to ISE-100 Index and ISE Financial Index respectively
16
Performance & Financial
Results – 9M09
About Us
Overview of Capital Markets
Our Performance
Financial Results
Expectations for the Rest of the Year
Expectations for the Rest of 2009
 Dubai liaison office will be ready as of end of 2009.
 Feasibility study for new branches continues.
 We sealed our uncontested leadership with strong performance.
 New derivative instruments yet to come
17
Investor Relations
18
Mr. Mert Erdoğmuş
Assistant General Manager
Phone
: +90 0212 350 24 12
Fax
: +90 0212 350 20 01
E-mail
:
[email protected]
The Investor Relations Department is responsible for
the timely communication of necessary, accurate,
complete, comprehensible and easily accessible
information and explanations, which are not
considered to be trade secrets to its shareholders and
stakeholders.
Mr. Ozan Altan
http://www.isinvestment.com/wwa_ir.aspx
Vice President
Phone
:
+90 0212 350 28 72
Fax
:
+90 0212 350 20 01
E-mail
:
[email protected]
Disclaimer
19
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.
IS Investment
20
İş Kuleleri Kule-2 Kat:12
HEAD 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
Tahran Cd. No:3/8
06700 Kavaklıdere ANKARA TURKEY
Tel: +90312 455 26 50
Fax: +90312 466 60 62
İZMİR
BRANCH
Akdeniz Cd. No:14 Birsel İş Merkezi D:501
35210 Alsancak İZMİR TURKEY
Tel: +90232 488 90 00
Fax: +90232 488 90 01
KALAMIŞ
BRANCH
MASLAK
BRANCH
Fener Kalamış Cd.
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
34330 4. Levent İSTANBUL TURKEY
Tel: +90212 350 20 00
Fax: +90212 350 20 01
YENİKÖY
BRANCH
YEŞİLKÖY
BRANCH
SUADİYE
REP. OFFICE
ALMA ATA
REP. OFFICE
SUBSIDIARY
Köybaşı Caddesi İskele Çıkmazı No: 6
34464 Yeniköy İSTANBUL TURKEY
Tel: +90212 363 01 00
Fax: +90212 363 01 01
Havalimanı Kavşağı EGS Business Park
B3 Blok No:470
34149 Yeşilköy İSTANBUL TURKEY
Tel: +90212 463 20 00
Fax: +90212 463 20 01
Bağdat Cd. Kılıçoğlu Ap. No:451 K:1 D:4
34740 Suadiye İSTANBUL
Tel: +90216 380 03 53
Fax: +90216 416 91 71
Jeltozbekova Street
97 Block A2 Floor:2
050051 ALMAATA KAZAKHSTAN
Tel: +77012 234803
Fax: +77273 340509
MAXIS SECURITIES LTD
8 Princes Street
London EC2R 8HL UNITED KINGDOM
Tel: +44207 397 1431
Fax: +44207 726 2566
PERFORMANCE & FINANCIAL
RESULTS – 9M09
November 12, 2009