İş Yatırım Menkul Değerler A.Ş.
Ocak 2005
PERFORMANCE & FINANCIAL RESULTS
2008
April 8, 2009
ABOUT US
OVERVIEW OF CAPITAL MARKETS
OUR PERFORMANCE
FINANCIAL RESULTS
EXPECTATIONS FOR THE REST OF THE YEAR
IS Investment offers variety of domestic and international services, such as;
Brokerage
Investment Advisory
Asset Management
Corporate Finance
Research
THE ONLY LISTED INVESTMENT HOUSE - ISE
The leading investment house in Turkey and the investment arm of IS Bank
FITCH: “AAA(tur)”
CREDIT CREDIT RATING - ‘AAA(tur)’
Fitch Ratings has affirmed IS Investment’s national long-term credit rating of 'AAA(tur)‘with stable outlook
‘AAA(tur)’
ONCE AGAIN…BEST EQUITY HOUSE IN TURKEY
IS Investment - once again - rewarded as the “Best Equity House in Turkey”
ABOUT US
OVERVIEW OF TURKISH CAPITAL MARKETS
OUR PERFORMANCE
FINANCIAL RESULTS
EXPECTATIONS FOR THE REST OF THE YEAR
7
TURKISH CAPITAL MARKETS
Equity Market Volume (TL Billion)
2007 2008
Derivatives Market Volume (TL Billion)
2007 2008
2007 2008
Bills & Bonds Market Volume (TL Billion)
3,5%
Derivatives Market – Continue to grow impressively
Eurobond Volume (TL Billion)
2008
Volatility hit the Eurobond market
2007
233.5
415.9775,4
665,2
722.9
598.7
-14,2%
78,1%
-17,2%
Global crisis affected the Equity MarketGlobal crisis affected the Equity Market
B & B Market shrinked due to the shift on investor’s mind B & B Market shrinked due to the shift on investor’s mind
-19,6%
64,2
51,6
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ASSET MANAGEMENT
21.4
144.1
913
3.677
25.010
Asset Management (USD Million)
Stable growth continues on the pension fund side despite the turmoil
2006 2007
Source: www.tspakb.org.tr
Pension FundsTotal
2008
20.271
29.574
20.895
2.048 3.5184.193
Pension Funds portfolio size
increased 19,2% with respect to
2007
ABOUT US
OVERVIEW OF CAPITAL MARKETS
OUR PERFORMANCE
FINANCIAL RESULTS
EXPECTATIONS FOR THE REST OF THE YEAR
10
LEADER IN THE MARKETS
Equity Market - (TL Billion)
More market share, stronger leadership
Derivative Market - (TL Billion)
Still continue to be the uncontested leadership
Eurobond Market – (TL Billion)
2008/Q3 2008
Nominal volume increase on Eurobond transactions
Bills&Bonds Market - (TL Billion)
2007 2008
Increasing market share
2007 2008 2007 2008
3.0
3.3
6,4%
49.144,0
6,6%6,3%
14.2
16.6
14,1%
11,8%
39.9
17,1%
56.9
13,7%
7,1%
-10,2% 42,6%
10%16,9%
ISE – EQUITY MARKET (TL)
2007 2008 BROKERAGE HOUSES
TRADING VOLUME
2007
TRADING VOLUME
2008
YoY (%) 2007
(%)
2008
(%)
1 1 IS Investment 49.058.200.449 44.021.890.412 -10,2 6,32 6,61
3 2 Finans Investment 38.763.479.516 34.460.120.443 -11,1 4,99 5,18
5 3 Yapı Kredi Investment 33.089.352.268 32.529.088.382 -1,69 4,26 4,89
7 4 Garanti Investment 31.348.263.996 25.778.107.821 -17,8 4,04 3,87
2 5 Ak Investment 39.300.036.627 25.542.257.076 -35,0 5,06 3,83
FIRST 5 191.559.332.857 162.331.464.134 -15,2 24,70 24,40
TOTAL 775.395.002.410 665.209.369.605 -14,2
MARKET RANKS- EQUITY
MARKET RANKS - DERIVATIVES
TurkDEX (TL)
2008 FINANCIAL INSTITUTIONS
TRADING VOLUME
2008
MARKET SHARE
(%)
1 IS Investment 56.919.273.668 13,68
2 EFG Istanbul Investment 32.465.803.965 7,81
3 Yapi Kredi Investment 29.135.743.869 7,01
4 Sanko Investment 27.341.371.650 6,57
5 Turkish Investment 25.942.019.500 6,24
FIRST 5 171.804.212.651 41,31
TOTAL 415.925.200.999
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ASSETS UNDER MANAGEMENT
AuM - IS Asset Management & IS Investment (USD Million)
Although AuM size did not change and size of pension funds increased 9,1% in nominal terms with respect toQ32008, we see the negative currency effect on the values while leading the market
Mutual Funds portfolio size
represent 23% of the market 173
7.043
2006
Source: IS Investment
Pension FundsTotal
Pension Funds portfolio size
represent 19,2% of the total pension
funds
2007 2008
3.708
5.799
4.800
364731 805
ABOUT US
OVERVIEW OF CAPITAL MARKETS
OUR PERFORMANCE
FINANCIAL RESULTS
EXPECTATIONS FOR THE REST OF THE YEAR
MAIN FINANCIAL FIGURES*
IS Investment TL (000)
2008 2008/Q3 YoY ▲%
Total Assets 1.482.839 1.444.069 19,5
Shareholders’ Equity 272.689 266.190 11,9
Derivatives and asset management are the main revenues for the profit while the commission revenues excluding corporate finance, displayed a better performance when compared to 2007
Net Profit
36.811 44.705 16,5
QoQ ▲%
2,7
2,4
21,4
2007
1.240.709
38.383
243.595
*Consolidated
16
PROPOSED DISTRIBUTION OF PROFIT - 2008
IS Investment will propose AGM to distribute the 30% of the attributable profit as cash dividend(TL 12.9 mn) in parallelwith the “Dividend Policy” of the company
Is Investment’s Board of Directors stated the company’s dividend policy as distributing -at least- 30% of the attributable profit as in cash and/or
bonus shares
ABOUT US
OVERVIEW OF CAPITAL MARKETS
OUR PERFORMANCE
EXPECTATIONS FOR THE REST OF THE YEAR
FINANCIAL RESULTS
EXPECTATIONS FOR 2009
Continue to benefit from the strong equity and cash.
Belated consolidation is happening in the sector. Number of the brokerage houses will be lower in 2009.
Our Maslak Branch and Suadiye Liaison Office up and running in Istanbul despite the consolidation.
We target to increase our market share in 2009 to clinch our uncontested leadership, first signs are
approving this tendency.
Single stock futures are still on the way, waiting for CMB’s approval.
Extending Prime Brokerage service to newcoming Asset Management Companies.
Trading foreign securities continue to boom, new products and instruments are on the pipeline.
Our youngest subsidiary Maxis Securities is enlarging its operations.
19
INVESTOR RELATIONS
Mert Erdoğmuş
Assistant General Manager
Phone : +90 0212 350 24 12
Fax : +90 0212 350 20 01
E-mail : [email protected]
Ozan Altan
Vice President
Phone : +90 0212 350 28 72
Fax : +90 0212 350 28 73
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
http://www.isinvestment.com/wwa_ir.aspx
2020
The information in this report is prepared by “IS YATIRIM MENKUL DEGERLER A.S.” (İş 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.
21
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