Y Y Yaz ı c ı lar Holding Yaz ı c ı lar Holding l l H ldi H ldi Investor Presentation I I Investor Presentation t t P P t ti t ti September 2010 September 2010
Anadolu Group Anadolu Group Extensive operating geography covering Extensive operating geography covering Turkey, CIS, Central Asia and Middle East Turkey, CIS, Central Asia and Middle East Turkey, CIS, Central Asia and Middle East Turkey, CIS, Central Asia and Middle East • Founded in early 1950’s • Primary business segments: – Beer B – Soft drinks – Automotive – Financial services Financial services – Retail • Business alliances with multinationals including: – Coca-Cola – Heineken – Isuzu – Itochu Itochu – Kia – Faber-Castell – Mc Donald’s 2
Anadolu Group Anadolu Group Well-diversified and transparent portfolio Well-diversified and transparent portfolio with number of publicly traded companies with number of publicly traded companies with number of publicly traded companies with number of publicly traded companies Özilhan Yaz ı c ı lar Holding Y l H ldi S ı nai Yat ı r ı m 68% 32% A A Holding Anadolu Endüstri Holding (AEH) N Companies A D O L Main Financial U Automotive Retail Others Soft Drinks Business Beer Services Groups G Anadolu Efes Coca ‐ Cola Anadolu Isuzu Adel Kalem Polinas ABank İ çecek R Efes Etap Tar ı m Çelik Motor Anadolu ALease O Breweries (Kia) Restoran Energy Major AYat ı r ı m International U U (Mc (Mc Companies Companies Group Anadolu Donald’s) P Companies Motor Ana G ı da Anadolu Elektronik ABH Efestur * Blue ‐ boxed companies are publicly ‐ traded 3 3
Anadolu Group Anadolu Group Best positioned to benefit from Best positioned to benefit from market growth opportunities market growth opportunities market growth opportunities market growth opportunities Turkey operations Turkey operations International operations Market Market Business Market Market Share Position Location Business Share Position Beer 89% 1 Russia Beer 10% 4 Coca ‐ Cola 68% 1 Beer 38% 2 Kazakhstan Light Trucks g 34% 1 C Coca ‐ Cola C l 3 % 34% 1 Wood ‐ cased pencils 75% 1 Moldova Beer 70% 1 Olive oil (Retail) 30% 1 Georgia Beer 65% 1 Azerbaijan Coca ‐ Cola 53% 1 Kyrgyzstan Coca ‐ Cola n.a. 1 Jordan Jordan Coca Cola Coca ‐ Cola 13% 13% 2 2 Pakistan Coca ‐ Cola 28% 2 Syria Coca ‐ Cola 11% 2 Sources Beer: A.C. Nielsen, MEMRB, Company estimates, Jun 2010 ‐ end. Coca ‐ Cola :A.C. Nielsen, MEMBR, Company estimates, Dec. 2009 ‐ end Others: OSD, company estimates, Dec. 2009 ‐ end 4
Financial indicators Financial indicators Anadolu Group Anadolu Group exhibiting sustainable growth exhibiting sustainable growth exhibiting sustainable growth exhibiting sustainable growth 0% *Excluding financial services sector operations 5 5
Beverage-sector dominated Beverage-sector dominated Anadolu Group Anadolu Group revenue and income stream revenue and income stream *Excluding financial services sector operations 6 6
Anadolu Group Anadolu Group Conservative approach in leveraging Conservative approach in leveraging 7 7
Anadolu Group Anadolu Group Good Credit and Corporate Standing Good Credit and Corporate Standing ANADOLU EFES • S&P / Local Currency ‐ “BB” (Positive Outlook) Foreign Currency – “BB” (Positive Outlook) • SAHA/ Corporate Governance rating of 8.40/10.00 SAHA/ Corporate Governance rating of 8.40/10.00 CCI • FITCH/ Local Currency ‐ “BBB” (Stable Outlook) • Foreign Currency ‐ “BBB ‐ ” (Stable Outlook) • SAHA/ Corporate Governance rating of 8.43/10.00 / p g / ALTERNATIFBANK • FITCH/ Local Currency ‐ “BB” (Stable Outlook) Foreign Currency ‐ “BB” (Stable Outlook) National – AA (Stable Outlook) ( ) 8 8
Yaz ı c ı lar Holding Yaz ı c ı lar Holding Subsidiaries & Participations Subsidiaries & Participations Shares (%), Shares (%), as of Jun. 30, 2010 as of Jun. 30, 2010 Subsidiaries Direct Indirect Total Subsidiaries (cont.) Direct Indirect Total Anadolu Endüstri Holding A. Ş . 68.00 - 68.00 Anadolu Araçlar Ticaret A. Ş . - 68.00 68.00 Alternatifbank A. Ş . - 61.75 61.75 Anadolu Termik Santralleri A. Ş . - 68.00 68.00 Alternatif Yat ı r ı m A. Ş . - 61.75 61.75 AES Toptan Elektrik Tic. A. Ş . - 68,00 68,00 Alternatif Finansal Kiralama A. Ş . Alternatif Finansal Kiralama A Ş - - 64.94 64 94 64.94 64 94 AEH Sigorta Acenteli ğ i A. Ş . - 68.00 68,00 Alternatif Yat ı r ı m Ortakl ı ğ ı A. Ş . - 32.48 32.48 Anatolia Energy B.V. - 68.00 68.00 Çelik Motor Ticaret A. Ş . - 68.00 68.00 Anadolu Kafkasya Enerji Yat ı r ı mlar ı A. Ş . - 68.00 68.00 Anadolu Motor Üretim ve Paz. A. Ş . 7.35 60.58 67.93 Anelsan Anadolu Elektronik San. ve Tic. A. Ş . - 48.94 48.94 Anadolu Otomotiv D ı ş Tic. ve San. A. Ş . - 67.38 67.38 Antek Teknoloji Ürünleri Paz. ve Tic. A. Ş . - 68.00 68.00 Anadolu Elektronik Aletler Paz. ve Tic. A. Ş . - 34.65 34.65 Georgia Urban Energy LLC - 68.00 68.00 Adel Kalemcilik Tic. ve San. A. Ş . - 38.68 38.68 Ülkü K ı rtasiye Tic ve San A Ş Ülkü K ı rtasiye Tic. ve San. A. Ş . - - 49.76 49 76 49 76 49.76 Participations Efes Turizm İş letmeleri A. Ş . - 51.60 51.60 Anadolu Efes Birac ı l ı k ve Malt Sanayi A. Ş . 30.94 5.33 36.27 Anadolu Bili ş im Hizmetleri A. Ş . - 65.53 65.53 Oyex Handels GmbH - 67.32 67.32 Joint Ventures Joint Ventures Anadolu Endüstri Holding und Co. KG - 67.32 67.32 Anadolu Isuzu Otomotiv San. ve Tic. A. Ş . 35.71 1.85 37.56 Anadolu Restoran İş letmeleri Ltd. Ş ti. - 68.00 68.00 Ana G ı da Otom. ve İ htiyaç Mad. San. ve Tic. A. Ş . - 37.57 37.57 Hamburger Restoran İş letmeleri A. Ş . - 68.00 68.00 D Tes Elektrik Enerjisi Toptan Sat ı ş A. Ş . j p ş Ş - 17.00 17.00 Anadolu Varl ı k Yönetim A Ş Anadolu Varl ı k Yönetim A. Ş . - 67.99 67 99 67 99 67.99 Anadolu Ta ş ı t Ticaret A. Ş . - 68.00 68.00 Aslanc ı k Elektrik Enerjisi Toptan Sat ı ş A. Ş . - 22.67 22.67 9
Yaz ı c ı lar Holding Yaz ı c ı lar Holding Shareholding structure Shareholding structure As of Jun 30 2009; As of Jun. 30, 2009; Yaz ı c ı Family members KY Trust KY T t P bli Public 39.10% Yaz ı c ı lar 33 50% 33.50% *27.40% Holding * 1.816% belongs to KY Trust 10
Yaz ı c ı lar Holding Yaz ı c ı lar Holding Board Structure Board Structure B type shares KY Trust (three seats on YAZICILAR Board) (three seats on YAZICILAR Board) A type shares C&D type shares Public+KY Trust Other Yaz ı c ı Family (one seat on members YAZICILAR B YAZICILAR Board, d (two seats on (t t owned by KY Trust) YAZICILAR Board) Yaz ı c ı lar Holding Board KY Trust owns 4/6 votes in Yaz ı c ı lar Holding Board 11
KY Trust KY Trust Shareholding structure Shareholding structure Council Kamil Yaz ı c ı KY’s spouse & children 82.9% 14.4% 2.7% KY Trust The Trust Company is managed by a Council of six members, five of which are non-family and chosen among prominent figures of the Turkish business community. The Council members own A-type shares of the Trust, attached with 50 voting rights (vs. one voting right of the remaining B-type shares). Consequently, despite their 2.7% stake, the professional managers have 58% of the votes and control of the Trust Company’s board. Kamil Yaz ı c ı is the lifetime chief of the board of the Trust. 12
Overview & Operating Results Overview & Operating Results of selected Group companies of selected Group companies
Beer & Soft Drinks Beer & Soft Drinks Anadolu Efes Anadolu Efes Shareholders & Major Participations Shareholders & Major Participations Shareholders & Major Participations Shareholders & Major Participations Anadolu Yaz ı c ı lar Yaz ı c ı lar Özilhan Özilhan AEH AEH Public Public Group Group Holding Holding Holding Holding S ı nai S ı nai S ı nai S ı nai 43.8% 56.2% 30.9% 17.5% 7.8% Anadolu Efes Anadolu Efes 99.9% 50.3% Turkey Beer Operations Turkey Beer Operations Coca-Cola İ çecek Efes Breweries CCI CCI International - EBI International EBI Turkey & Intl. Coca- Cola Operations International Beer Operations (24.6% public) (0.1% public) 14
Anadolu Efes Anadolu Efes Beer & Soft Drinks Beer & Soft Drinks Key financial data (consolidated) Key financial data (consolidated) Key financial data (consolidated) Key financial data (consolidated) 12% 11% 24% 24% 24% 23% 9% *CCI results are proportinately consoldiated (50.26%) 15
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