Migros Ticaret (MGROS) Company presentation summary

Company overview and market position

• Operates in Turkey (all 81 cities), Macedonia, and Kazakhstan with 1,933 stores as of March 31, 2018.

• Recognized for innovation, loyalty programs, and customer service, with 7.7 million active Money Club Card households.

• Leading supermarket operator in Turkey with a 16.1% share in the modern FMCG market and 6.6% in total FMCG.

• Multi-channel strategy includes supermarkets, upscale stores, proximity formats, online, wholesale, and international operations.

• Strong sustainability and corporate governance credentials, included in BIST Sustainability and Corporate Governance Indices.

Ownership and history

• Joint venture between BC Partners (23.2%) and Anadolu Group (50%), with 26.8% free float.

• Founded in 1954, the company has experienced five ownership eras, maintaining consistent management principles.

Operating environment and business model

• Operates in an attractive, growing market with significant upside potential; Turkish food retail market is 66% unorganized.

• Flexible, capital-light model with mostly rented stores and low capex as a percentage of sales.

• Focus on fresh categories, with dedicated meat production plants and advanced logistics network.

• Recognized for quality management, with multiple ISO certifications and industry awards.