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PERFORMANCE & FINANCIAL
RESULTS – 2009H1
August 27, 2009
Investor Relations
1
Performance & Financial
Results – 2009H1
About Us
Overview of Capital Markets
Our Performance
Financial Results
Expectations for the Rest of the Year
Investor Relations
About Us
2
Activities
Corporate Finance
• Public Offerings
• Mergers & Acquisitions
• Project Finance
Participations
•
•
•
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
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
•
•
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
Camiş
Investment,
0.2%
T. Şişe ve Cam
Fabrikaları ,
1.5%
İş Leasing,
2.4%
Investor Relations
Free Float,
27.9%
T. İş Bank,
65.6%
İş Factoring,
2.4%
3
Performance & Financial
Results – 2009H1
About Us
Overview of Capital Markets
Our Performance
Financial Results
Expectations for the Rest of the Year
Investor Relations
Overview of Capital Markets
Equity Market Volume (In TL Billion)
4
Derivatives Market Volume (In TL Billion)
408
352
284
218
2008H1
Source:www.imkb.gov.tr
2009H1
2008H1
Source:www.vob.org.tr
Higher volume and better market performance in the first half of 2009
Investor Relations
2009H1
Overview of Capital Markets
5
Bills & Bonds Market Volume (In TL Billion)
429
332
2008H1
2009H1
Source:www.imkb.gov.tr
Lower interest rates and higher volume
Investor Relations
Overview of Capital Markets Asset Management
6
Asset Management ( In TL Million)
Mutual Funds*
Pension Funds
28,347
24,439
5,167
2008H1
7,672
2009H1
Source:www.spk.gov.tr
Remarkable growth continues on the pension fund side
*A Type and B Type Funds.
Investor Relations
Pension Funds grew
48.5% with respect to
the same period of 2008
7
Performance & Financial
Results – 2009H1
About Us
Overview of Capital Markets
Our Performance
Financial Results
Expectations for the Rest of the Year
Investor Relations
Our Performance
8
Equity Market Volume and Market Share
Derivatives Market Volume and Market Share
(In TL Billion)
(In TL Billion)
8.08%
11.72%
15.16%
32.9
33.3
33.0
6.15%
21.7
2008H1
2009H1
Source:www.imkb.gov.tr
Our trading volume increased 52.1% on
annual basis, more than trippling the total
market volume increase over the same period
Investor Relations
2008H1
2009H1
Source:www.vob.org.tr
Sustained leadership
Our Performance
9
Bills & Bonds Market Volume and Market Share* (In TL Billion)
17.38%
10.7
10.64%
7.6
2008H1
2009H1
Source:www.imkb.gov.tr
Continued to provide services in alternative markets tailored for the
needs of our investors
*Among Brokerage Houses
Investor Relations
Our Performance Assets Under Management
10
AuM – IS Asset Management & IS Investment (TL Million)*
Mutual Funds**
Pension Funds
6,400
5,300
967
2008H1
Mutual Funds
portfolio size
represents 22.6%
of the market
Pension Funds
portfolio size
represents 19.5%
of the total
pension funds
1,500
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
11
Performance & Financial
Results – 2009H1
About Us
Overview of Capital Markets
Our Performance
Financial Results
Expectations for the Rest of the Year
Investor Relations
Financial Results Main Financial Figures*
IS Investment
12
31.12.2008
2008H1
2009H1
YoY
1,482,839
1,288,686
2,199,900
70.71%
272,689
241,923
296,244
22.45%
44,705
12,587
34,019
170.27%
TL (000)
Total Assets
Shareholders' Equity
Net Profit
Robust financial perfomance
* Consolidatd
Investor Relations
Financial Results Breakdown of Operating Revenues
13
Breakdown of Operating Revenues
(TL 000)
101.035
66.683
2008H1
2009H1
37.666
33.397
27.706
8.836
1.124
Interest and Trading
Income
Investor Relations
Commission Income
955
Income from Corporate
Finance
Total Operating Revenues
Financial Results Asset Management
14
Asset Management Commissions
TL(000)
9.367
7.390
5.898
5.191
IS Asset Management
4.941
Consolidated
4.175
4.139
3.287 3.251
2.437
2008Q1
2.504
2009Q1
2.611
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
15
ISMEN Closing Price TL
2,25
2,00
1,75
1,50
1,25
1,00
ROE
25.08.2008
25.08.2009
0.16
0.25
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
A visible ROE expansion on
the back of robust operating performance
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
Investor Relations
16
17
Performance & Financial
Results – 2009H1
About Us
Overview of Capital Markets
Our Performance
Financial Results
Expectations for the Rest of the Year
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.
Investor Relations
18
Investor Relations
19
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]
Investor Relations
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
Disclaimer
20
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.
Investor Relations
IS Investment
21
İş Kuleleri Kule-2 Kat:12
HEAD OFFICE
KAVACIK
AUXILIARY
OFFICE
Rüzgarlıbahçe Mevkii Kavacık Kavşağı
Sismer Plaza Kat:4
34805 Kavacık İSTANBUL TURKEY
Tel: +90216 538 14 00
Fax: +90216 538 14 01
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
YENİKÖY
BRANCH
YEŞİLKÖY
BRANCH
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
ANKARA
BRANCH
Tahran Cd. No:3/8
06700 Kavaklıdere ANKARA TURKEY
Tel: +90312 455 26 50
Fax: +90312 466 60 62
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
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
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
KALAMIŞ
BRANCH
MASLAK
BRANCH
Investor Relations
34330 4. Levent İSTANBUL TURKEY
Tel: +90212 350 20 00
Fax: +90212 350 20 01
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
ALMA ATA
REP. OFFICE
SUBSIDIARY
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 – 2009H1
August 27, 2009
Investor Relations