Alarko Holding A.s. · BIST:ALARK
Alarko Holding A.s — Q1 2025 Earnings Presentation
35 slides from Alarko Holding A.s's earnings presentation, 2025
Slide 1: Q1 2025 Investor Presentation
Q1 2025 Investor Presentation
Slide 2: Alarko Holding Overview
Alarko Holding Overview Energy Tourism Industry Land Construction Agriculture Investment & Development Trade Service In All Strong Brand Sector Leading Experience Quality In Service Healthy Adding Value To Areas of Energy & Services With & & Production & The Sector Quality In Service Perfectionist P
Slide 3: Powerful and Reputable Holding Rising Worldwide
Alarko Holding Powerful and Reputable Holding Rising Worldwide • Founded in 1954 by İshak Alaton and Üzeyir Garih • One of the pioneers in the stock exchange listed since 1974 • Leading industrial experience with 70 years • 7 different fields of activity • Energy • Construction • Land Development •
Slide 4: Alarko Holding
Alarko Holding Last 3 Month Avg Market Cap* Listed Companies Free Float Volume (in TL mn)* (in TL mn)* Alarko %37.1 42.613 683 Alarko Carrier %15,9 12.280 53 Alarko GYO %48,8 5.373 39 **31.03.2025 itibarıyla İzzet Garih %17,7 Free Float %37,1 Vedat A. Alaton %14,3 Other %3,1 Leyla Alaton %14,8 Dalia
Slide 5: Current Operations
Current Operations Power Production & Construction Land Development Industry & Trade Distribution Altek (%100) Alcen (%50) Alen (%100) Alsim (%100) Alarko GYO (%51) Alarko Carrier (%7) 2024 Share in Combined Revenue: %76 2024 Share in Combined Revenue : %- 2024 Share in Combined Revenue : %0 2024 Sh
Slide 6: Access to full potential via Generation & Distribution
Current Operations Power Access to full potential via Generation & Distribution… Generation • Total of 1.539 MW installed capacity, implying 2% of Turkey’s installed capacity • Power Plants; • 2 Hydro (86 MW -%100 Ownership) • 1 Solar (51 MW- %50 Ownership) • 1 Imported Coal Power Plant (1,320 MW- %
Slide 7: Focused on serving the entire energy sector
Current Operations Power Focused on serving the entire energy sector… Distribution & Retail • Took over Meram through privatization in 2009 by paying 440 mn USD (License Expiry: August 2036) • Covers 6 provinces- 10% of Turkey’s total area • Reaching close to 2,4 mn electricity subscribers every day
Slide 8: Accumulated experience of over 50 years
Current Operations Land Development Accumulated experience of over 50 years… • First listed REIT in the stock exchange • Negotiates the contracts with landowners on a revenue or profit-sharing basis • Seeks hotels and resorts with high potential • Sustainable rental revenue of c. 10 mn USD per year
Slide 9: Dedicated to making people feel good
Current Operations Tourism Dedicated to making people feel good… • Operates city club and hotels in Turkey, under the brand “Hillside’’ • Hillside beach club – introduced the leisure concept in Turkey with 330 rooms & 781 bed capacity • Occupancy rate of 76% in 2024 • Repeat guest rate of 78% • Targ
Slide 10: Raises the bar in the industry with a perfectionist approach
Current Operations Industry & Trade Raises the bar in the industry with a perfectionist approach… • Formed an Equal- share partnership with Carrier in 1998 (%42 each) • Fields of business include heating, cooling, ventilation, and water pressurization • Extensive and strong sales and service network
Slide 11: The power that transforms into the future
Current Operations Construction The power that transforms into the future… • Expertise covers airports, rail systems, infrastructure works, industrial facilities, business centers, hotels, and hospitals • Aims to be the first choice in international projects by leveraging its know-how and quality in
Slide 12: 360 Degree Value Creation
Current Operations Agriculture 360 Degree Value Creation… • Alarko Holding, as of 2023, has designated “Agriculture” as a strategic and priority sector • Alarko Tarım conducts its operations under 4 segments: Greenhouses, Fertilizers, Seeds, and Food Processing • Aiming to be in the top 3 in the wor
Slide 13: Investment
Current Operations Investment Public Equity Private Equity Venture Capital − Founded in 2023, Public Equity − Private Equity strategy focuses on − Venture Capital strategy strategy focuses on investing direct investments, private equity underscores Alarko Capital’s Türkiye’s capital markets with a f
Slide 14: Strategy
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Slide 15: Absolute Value Creation through the Proper Use of Capital
Absolute Value Creation through the Proper Use of Capital Increase in the Value of Existing Operations Preservation of Defensive Companies' Assets Supporting Cash-Generating Companies 01 Balanced Portfolio and New Investments for Sustainable Growth 02 Planned Growth in New Investment Areas Optimal S
Slide 16: Organic & Inorganic Growth
Growth Opportunities Organic & Inorganic Growth… Power Land Development Industry & Trade Portfolio Development Leisure Focused Investments Water Pressurization Plans Leveraging Hillside Brand via System, Water Pump, and BESS Investments New Acq. Broiler Investments Agriculture Investment Aviation Ov
Slide 17: The goal is for the Holding to become a portfolio management center
In 2028 The goal is for the Holding to become a portfolio management 2028 center and to increase its value to 4 bn USD Balanced Portfolio 17 | Alarko Q1 2025 Investor Presentation
Slide 18: Existing Operations, New Business Lines, Alarko Investment
In 2028 Existing Operations New Business Lines Alarko Investment %60 %30 %10 18 | Alarko Q1 2025 Investor Presentation
Slide 19: Assets that will uncover
Land Portfolio Assets that will uncover… Alarko Holding Land Portfolio (TL mn) – 31.12.2024 Düz Defter Değeri Ekspertiz Değeri Land – Antalya - 342,5 Land- Sarıyer – İstanbul - 843,4 Offices- İstanbul - 27,1 Investment Properties Land- Büyükçekmece – İstanbul - 9,3 Office- Adana - 9,8 Toplam - 1.232
Slide 20: Financials
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Slide 21: Combined Financial Results: Revenue
Combined Financial Results Combined Revenue (TL mn)* 9.951 8.057 174 779 1.992 372 512 844 3.448 3.445 3.453 2.755 Q1 2024 Q1 2025 Power Gen. Power Dist&Retail Construction Land Dev. Industrial Holding Tourism Agriculture 21 | Alarko Q1 2025 Investor Presentation The figures represent the combined f
Slide 22: Combined Financial Results: EBITDA
Combined Financial Results Combined EBITDA (TL mn)* 1.763 1.577 36 126 388 61 132 1.460 1.321 -327 Q1 2024 Q1 2025 Power Gen. Power Dist&Retail Construction Land Dev. Industrial Holding Tourism Agriculture 22 | Alarko Q1 2025 Investor Presentation The figures represent the combined figures with cons
Slide 23: Combined Financial Results: Net Profit
Combined Financial Results Combined Net Profit (TL mn)* (1.848) (2.346) 229 1 -295 -869 -834 -52 -849 -67 Q1 2024 Q1 2025 Power Gen. Power Dist&Retail Construction Land Dev. Industrial Holding Tourism Agriculture 23 | Alarko Q1 2025 Investor Presentation The figures represent the combined figures wi
Slide 24: Power Generation Operations in the Quarter
Power Generation Operations in the Quarter Net Power Generation (KWh)* Revenue (TL mn)* 3.453 2.599.095 2.755 19.112 17.662 29.541 2.504.276 20.658 8.789 17.584 2.532.780 2.457.244 Q1 2024 Q1 2025 Q1 2024 Q1 2025 Cenal Karakuz HES Gonen HES Solar EBITDA (TL mn)* Net Profit (TL mn)* 1.824 1.460 -408
Slide 25: Power Distribution & Retail Operations in the Quarter
Power Distribution & Retail Operations in the Quarter EBITDA (TL mn)* 388 Revenue (TL mn)* Q1 2024 Q1 2025 3.448 -451 Net Profit (TL mn)* 3.445 Q1 2024 Q1 2025 Q1 2024 Q1 2025 -849 -1.152 25 | Alarko Q1 2025 Investor Presentation The figures represent the combined figures with considering Alarko’s s
Slide 26: Land Development Operations in the Quarter
Land Development Operations in the Quarter EBITDA (TL mn)* 183 Revenue (TL mn)* 126 35 Q1 2024 Q1 2025 Net Profit (TL mn)* 1 31 Q1 2024 Q1 2025 Q1 2024 Q1 2025 -72 26 | Alarko Q1 2025 Investor Presentation The figures represent the combined figures with considering Alarko’s stake in JV’s after elimi
Slide 27: Construction Operations in the Quarter
Construction Operations in the Quarter EBITDA (TL mn)* Revenue (TL mn)* 8 Q1 2024 Q1 2025 1.992 -122 Net Profit (TL mn)* 844 Q1 2024 Q1 2025 -118 Q1 2024 Q1 2025 -129 27 | Alarko Q1 2025 Investor Presentation The figures represent the combined figures with considering Alarko’s stake in JV’s after el
Slide 28: Industry Operations in the Quarter
Industry Operations in the Quarter EBITDA (TL mn)* 9 Revenue (TL mn)* 779 1 Q1 2024 Q1 2025 512 Net Profit (TL mn)* Q1 2024 Q1 2025 -74 Q1 2024 Q1 2025 28 | Alarko Q1 2025 Investor Presentation -108 The figures represent the combined figures with considering Alarko’s stake in JV’s after eliminations
Slide 29: Tourism Operations in the Quarter
Tourism Operations in the Quarter EBITDA (TL mn)* Revenue (TL mn)* -157 43 -177 Q1 2024 Q1 2025 Net Profit (TL mn)* 39 -206 Q1 2024 Q1 2025 -225 29 | Alarko Q1 2025 Investor Presentation Q1 2024 Q1 2025 The figures represent the combined figures with considering Alarko’s stake in JV’s after eliminat
Slide 30: Agriculture Operations in the Quarter
Agriculture Operations in the Quarter EBITDA (TL mn)* 84 Revenue (TL mn) 36 372 Q1 2024 Q1 2025 Net Profit (TL mn)* 174 -29 Q1 2024 Q1 2025 -119 Q1 2024 Q1 2025 30 | Alarko Q1 2025 Investor Presentation The figures represent the combined figures with considering Alarko’s stake in JV’s after eliminat
Slide 31: Combined & Consolidated Financial Results
Combined & Consolidated Financial Results… Combined P&L (TL mn)* Q1 2025 Q1 2024 Change Revenue 8.057 9.951 (19%) EBITDA 1.763 1.577 12% EBITDA Margin 22% 16% Net Profit (2.346) (1.760) The figures represent the combined figures with considering Alarko’s stake in JV’s after eliminations, TAS-29 Appl
Slide 32: Consolidated Financial Results: Balance Sheet
Consolidated Financial Results… Consolidated Balance Sheet (TL mn)* Q1 2025 FY 2024 Change Assets 100.548 103,390 (3%) Current Assets 18.830 21.396 (14%) Cash & Cash Equivalents 5.534 9.616 (74%) Financial Investments 7.015 5.261 25% Non-current Assets 81.718 81.994 0% Liabilities Current Liabilitie
Slide 33: Sustainability at Alarko
Sustainability at Alarko Sustainability at Alarko In all our group companies' operations and new investments, we focus on implementing resilient and future-aligned business models that are based on long- 2050 term environmental and social benefits. Our goal is: ▪ To create human and purpose-driven,
Slide 34: Sustainability at Alarko – Our Sustainability Goals
Sustainability at Alarko – Our Sustainability Goals ✓ Net zero emissions by 2050 Planet ✓ To increase energy and resource efficiency across the entire organization ✓ To invest in biodiversity and conservation efforts ✓ To maintain the unwanted employee turnover rate People & Culture ✓ To increase th
Slide 35: Disclaimer
Disclaimer Alarko Holding A.S. (the“Company”) has prepared this presentation (the “Presentation”) in order to provide investors with general information about the Company. The contents of this Presentation is based on public information and on data provided by the Company’s management. Neither the C