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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