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Investor Relations
PERFORMANCE & FINANCIAL RESULTS – 2009H1August 27, 2009
Investor Relations
Performance & Financial Results – 2009H1
2
About Us
Overview of Capital Markets
Our Performance
Financial Results
Expectations for the Rest of the Year
Investor Relations
About Us
Activities Participations
3
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
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
T. İ ş Bank, 65.6%
İ ş Factoring, 2.4%
İ ş Leasing, 2.4%
T. Şişe ve Cam Fabrikaları ,
1.5%
Camiş I nvestment,
0.2%
Free Float, 27.9%
Investor Relations
About Us
Overview of Capital Markets
Our Performance
Financial Results
Expectations for the Rest of the Year
Performance & Financial Results – 2009H1
4
Investor Relations
Overview of Capital Markets
Equity Market Volume (In TL Billion) Derivatives Market Volume (In TL Billion)
5
2008H1 2009H1 2008H1 2009H1
352
408
218
284
15.8%
30.4%
Source:www.imkb.gov.tr Source:www.vob.org.tr
Higher volume and better market performance in the first half of 2009
Investor Relations
Overview of Capital Markets 6
2008H1 2009H1
332
42929.1%
Source:www.imkb.gov.tr
Bills & Bonds Market Volume (In TL Billion)
Lower interest rates and higher volume
Investor Relations
Overview of Capital Markets Asset Management
Remarkable growth continues on the pension fund side
7
2008H1 2009H1
24,439
5,167
28,347
7,672
Source:www.spk.gov.tr
Pension FundsMutual Funds*
Pension Funds grew 48.5% with respect to the same period of 2008
Asset Management ( In TL Million)
*A Type and B Type Funds.
Investor Relations
About Us
Overview of Capital Markets
Our Performance
Financial Results
Expectations for the Rest of the Year
Performance & Financial Results – 2009H1
8
Investor Relations
Our Performance
Equity Market Volume and Market Share
(In TL Billion)
Derivatives Market Volume and Market Share
(In TL Billion)
9
2008H1 2009H1 2008H1 2009H1
21.7
32.9
33.0 33.352.1%
Source:www.imkb.gov.tr Source:www.vob.org.tr
Our trading volume increased 52.1% on annual basis, more than trippling the total market volume increase over the same period
Sustained leadership
6.15%
8.08% 15.16% 11.72%
Investor Relations
Our Performance 10
Continued to provide services in alternative markets tailored for the needs of our investors
2008H1 2009H1
10.7
7.6
-28.7%
Source:www.imkb.gov.tr
17.38%
10.64%
*Among Brokerage Houses
Bills & Bonds Market Volume and Market Share* (In TL Billion)
Investor Relations
Our Performance Assets Under Management
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.
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2008H1 2009H1
5,300
967
6,400
1,500
Source:IS Investment
Pension FundsMutual Funds** Pension Funds
portfolio size represents 19.5% of the total pension
funds
AuM – IS Asset Management & IS Investment (TL Million)*
* Other Funds: Portfolio size of TL 733 mn and TL 1.011 mn for other funds for the periods of 2008H1 and 2009H1 respectively.
Mutual Funds portfolio size
represents 22.6% of the market
**A Type and B Type Funds.
Investor Relations
About Us
Overview of Capital Markets
Our Performance
Financial Results
Expectations for the Rest of the Year
Performance & Financial Results – 2009H1
12
Investor Relations
Robust financial perfomance
Financial Results Main Financial Figures* 13
* Consolidatd
IS Investment 31.12.2008 2008H1 2009H1 YoY
TL (000)
Total Assets 1,482,839 1,288,686 2,199,900 70.71%
Shareholders' Equity 272,689 241,923 296,244 22.45%
Net Profit 44,705 12,587 34,019 170.27%
Investor Relations
Financial Results Breakdown of Operating Revenues 14
8.836
27.706
1.124
37.666
66.683
33.397
955
101.035
Interest and Trading Income
Commission Income Income from Corporate Finance
Total Operating Revenues
2008H1
2009H1
Breakdown of Operating Revenues(TL 000)
Investor Relations
2.437
3.251
2.504
4.139
4.941
7.390
3.287
4.175
2.611
5.191
5.898
9.367
IS Asset Management
Consolidated
Financial Results Asset Management 15
2008Q22009Q12008Q1 2008H1 2009H12009Q2
Asset Management Commissions TL(000)
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
0,00
0,25
0,50
0,75
1,00
1,25
1,50
1,75
2,00
2,25
Financial Results Price Performance 16
ISMEN Closing Price TL
25.08.2008 25.08.2009
ROE 0.16 0.25
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
A visible ROE expansion on the back of robust operating performance
Investor Relations
Financial Results Dividend Policy 17
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
Investor Relations
About Us
Overview of Capital Markets
Our Performance
Financial Results
Expectations for the Rest of the Year
Performance & Financial Results – 2009H1
18
Investor Relations
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
Investor Relations 20
Mr. Mert Erdoğmuş
Assistant General Manager
Phone : +90 0212 350 24 12
Fax : +90 0212 350 20 01
E-mail : [email protected]
Mr. Ozan Altan
Vice President
Phone : +90 0212 350 28 72
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.
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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Investor Relations
IS Investment 22
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Fax: +90312 466 60 62 Fax: +90212 282 00 19
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Tel: +90212 367 85 00 Tel: +44207 397 1431 Fax: +90212 367 85 01 Fax: +44207 726 2566
Investor Relations
PERFORMANCE & FINANCIAL RESULTS – 2009H1August 27, 2009
