Investor Presentaiton
Strong Track Record of Retailization in Turkey...
# of Retail Stores Evolution in Turkey
Net
New
Stores
14
6
7
2
3
Turkey Retail Sales Evolution (TRYM)
54%
9,268
6,694
327
329
332
320
2,740
314
1,829
1,356
2019
2020
2021
2022
9M 2023
2019
2020
2021
2022
9M 2023
Gross Selling Space Evolution in Turkey (Sqm k)
Significant LFL Upside Potential of Existing Stores¹
Avg.
447m²
Sqm/
Retail
Store
500m²
501m2
6%
39
8
9
20
510m²
Further Potential Upside
3
31
Potential Revenue Catch-Up From
younger LFL Stores and New Stores
62,912
TRY/sqm
30
156
164
168
117
47,586
50,212
TRY/sqm
50,638
TRY/sqm
2016
2019
2021
Sales/
Sqm
2022
43,355
TRY/sqm
TRY/sqm
Expansion of existing stores
New store openings
Age of
CAGR
1-3 years
3-5 years
Stores
5-7 years
7-9 years
10+ years
mavi
1 Based on 9M 2023 LfL figures
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