Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi Ve Ticaret · BIST:SMRTG
Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi Ve Ticaret — Smart Solar Technologies — Q1 2024 Earnings Presentation
37 slides from Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi Ve Ticaret's earnings presentation, 2024
Slide 1: Investor Presentation 2024/Q1
smartsolar.com.tr INVESTOR PRESENTATION 2024/Q1
Slide 2: Table of Contents
TABLE OF CONTENTS ABOUT US GROUP OVERVIEW FV MODULE PRODUCTION EPC INVESTMENTS PROJECT PIPELINE CONTACT DETAILS
Slide 3: About Us
ABOUT US One of the leading PV solar module Turnkey installation & Solar power plant A wide range of solar integrated solar production engineering services investments solutions to commercial companies and retail users. Our company was established in 2009, headquartered in Istanbul. Smart Solar Tech
Slide 4: Vertical Integration
VERTICAL INTEGRATION INVESTMENT VERTICAL INTEGRATION EPC OUR COMPETITIVE PV MODULE STRATEGY PRODUCTION Smart Solar Technologies is active in large parts of the PV Value Chain. We believe in the future of solar energy and we are CELL expanding vertical integration with the cell production facility wh
Slide 5: Overview
OVERVIEW 1.2 GW Türkiye (Gebze) | 1.2 GW Türkiye (Aliağa) 2.4 GW Total Solar Module Production Capacity 1.5 GW EU (2025) | 1.5 GW EU (2025) | 3 GW USA (2025) | 1.8 GW Türkiye (2024 Q4) Expanding Solar Module Production Capacity With Projected Investments 800 MW TR, Aliağa (2024 Q3) | 1.2 GW TR, Alia
Slide 6: About Us: Guiding Principles and Awards
ABOUT US Guiding Principles QUALITY MANAGEMENT VALUE ENGINEERING INVESTMENT OF KINDNESS Our Awards
Slide 7: A+ Stable Outlook Credit Rating
A+ Performed by Japan Credit Rating Eurasia As part of the credit rating process, STABLE Our Long Term National Rating is ‘’A+ Stable Outlook’’, Our Short Term National Rating ’’J1 Stable Outlook’’ OUTLOOK determined as high level investment grade, respectively
Slide 8: Milestones
ABOUT US Milestones 2009 • Smart Energy was founded in Bulgaria 2010 • PV projects were developed in Bulgaria • Electricity production started in Rakovskovo 2011 PV power plant
Slide 9: Milestones
ABOUT US Milestones • 12 PV power plants got connected to the grid 2012 in Bulgaria • Greece and Romania offices opened • PV power plants were established in Greece and 2013 Romania and connected to the grid • Smart Solar Technologies was founded in Türkiye 2014 • The first PV power plant installati
Slide 10: Milestones
ABOUT US Milestones • The first CIS GLASS-GLASS panel project installation was 2015 completed • Smart Solar Technologies started the factory construction process in an area of 23.500 m² in Gebze • The 300 solar power plant projects completed were 2016 approved by TEDAŞ • Smart Solar Technologies sig
Slide 11: Milestones
ABOUT US Milestones • PV panel production capacity was increased to 2018 800 MW • Germany and Ukraine offices were opened 2019 • The holding structure was started • Mass production of Bifacial and Half-Cut panels started 2020 • PV panel production capacity was increased to 1200 MW
Slide 12: Milestones
• Smart Solar Technologies won the "BIG STARS" award ABOUT US Milestones in Deloitte Technology Fast 50 awards 2021 • Smart Solar Technologies got awarded for being among 100 fastest growing companies in Türkiye by The Union of Chambers and Commodity Exchanges of Türkiye (TOBB) • The shares of Smart
Slide 13: PV Solar Module Production
PV SOLAR MODULE PRODUCTION OVERVIEW In our production facility, crystalline silicon cell-based high efficiency photovoltaic solar panels are produced for use in land and roof solar power plants. High efficiency is achieved in solar panel production by using Multi Busbar, PERC, Half-Cut Cell and Bifa
Slide 14: Shareholder Structure
S h a re h o l d e r S t r u c t u re BIST SHARE CODE SMRTG DATE OF PUBLİC OFFER 24.03.2022 BIST 100 / BIST HİZMETLER / BIST HALKA ARZ / BIST KATILIM 30 / BIST 50 / BIST KATILIM 50 / BIST KATILIM INDEXES INCLUDED TUM / BIST TÜM / BIST ELEKTRİK / BIST KOCAELİ / BIST 100-30 / BIST KATILIM 100 / BIST Y
Slide 15: Subsidiaries
Subsidiary Smart Gunes Enerji Ekipmanian Pazarlama AS. Smart GES Enerji Uretim AS. Smart Sumec Enerji Ekipmanian ve Pazarlama AS. Consortium of Smart Gunes Enerjisi Teknolojleri Ar Ge Uretim Sanayi Ticaret AS & IHK Holding AS. Icarus Solar GmbH Smart Solar Ukraine Smart Solar Technology Gmbh Smart S
Slide 16: Solar Energy in the World
SOLAR ENERGY in the WORLD It is anticipated that electricity generation will be significantly based on renewable energy sources in order to achieve the goal of net zero carbon emissions in 2050. World Installed Power Development (GW, 2000-2050) YBBO 19,924 YBBO (2000-2020) 1.872 (2020-2050) 15,431 2
Slide 17: Solar Energy in Türkiye
S O L A R E N E R G Y i n Tü R K İ Y E Atık %3, Tarım 3 %14, Sanayi 3 %5,6 Ener ji %76, 8 Türkiye signed the Paris Agreement the previous year, committing to net zero emissions by 2053. Türkiye’s National Energy Plan, which is a road map for Türkiye’s transition to clean energy and reveals the dista
Slide 18: Group Overview: Domestic Goods Certificates
GOODS DOMESTIC C E R T I F I C AT E S G R O U P OV E R V İ E W D O M E S T I C G O O D S C E R T I F I C AT E S
Slide 19: Smart Technology
ENCAPSULANT | > BACK SHEET (U] ~~ | : FRAME ei | eo) 2 <= UY Lu ARC = Oo TEM sans = a a ( GLASS [ad <x = ”n SOLAR CELLS STRINGS
Slide 20: Smart Solar Panels
S M A R T S O L A R PA N E L S In Smart Solar Energies’ production facilities offers capability to produce various products ranging from 108 cells to 156 cells (number of cells used in solar panels produced - more cells means higher power production), including mono-facial (solar Energy production f
Slide 21: Bifacial Technology
Solar Tracker System Bifacial Technology S M A R T S O L A R PA N E L S
Slide 22: Solargize
Having started electric vehicle charging network SOLARGIZE operations through Solargize Yeşil Mobilite Enerji A.Ş. in 2023, Smart Solar Technologies offers high quality chargers to meet the needs of electric vehicles. The Company offers innovative products to its customers and produces solutions for
Slide 23: Aliağa PV Module & Cell Integrated Production
ALIAĞA PV MODULE & CELL INTEGRATED PRODUCTION 1.2 GW Solar Module Production Capacity | 2 GW Cell Production Capacity (2024 Q3) 50.000 m² Production Area
Slide 24: Facility Plan
FACILITY PLAN • PHASE 1 600 MW PV Module Line was activated • PHASE 2 Equipment orders were given for a 800 MW PERC Cell Line • PHASE 3 1.200 MW TOPCon Cell Line Design was completed
Slide 25: Solar Module References
SOLAR MODULE REFERENCES You can review some reference project information using, ‘our high efficiency solar modules. ‘Our customers who choose our high-efficiency sola modeules in solar power plants have achieved maximum ‘energy production in their projects. SALIK ENERI DOAN ENERI Fortis Tarkiye - R
Slide 26: EPC Overview
E P C OV E R V I E W EPC BASIC APPLICATION AREAS Large Scale Commercial Field Projects Medium Scale Commercial and Self Consumption Based Field Projects Large and Medium Scale Commercial and Self- Consumption Roof-top Projects Invegrated Hybrid Projects with PV We are a solution partner with over 10
Slide 27: EPC Activities
E P C AC T I V I T I E S In the PV market which we entered 14 years ago as an investor in Eastern Europe, we are able to work with the business definitions such as Project Developer, EPC company, BOT (build/operate/transfer), BOO (build/own/operate) in all over the world with our experience that we
Slide 28: Group Overview: EPC Activities
EPC G R O U P OV E R V I E W EPC ACTIVITIES We inspect the materials and products supplied when delivered to the field and just before installation. We replace damaged or defective materials or products. We protect all materials and equipment that may be exposed to damage, inclement weather or ultra
Slide 29: EPC Project References
Turkiye - Land SPP Netherlands - Land SPP Torkiye - Land SPP Bulgaria - Land SPP 22 MP 18 MWp 18 Mp 18 MWD Portugal - Land SPP Tarkiye- Land SPP Tarkiye - Land SPP Tarkiye - Land SPP 21 MW 18MWp 1.3 Mp 11,7 MW Tarkiye -Land SPP. Tarkiye- Rooftop SPP Turkiye - Land SPP Ukraine - Land SPP Tarkiye - La
Slide 30: Statement of Financial Position - 31.03.2024
Statement of Financial Position - 31.03.2024 (Mio TL) 31.03.2024 31.12.2023 % Cash and cash equivalents 381 675 -43,6% Trade receivables 3.435 2.913 17,9% Inventories 2.656 2.270 17,0% TOTAL CURRENT ASSETS 8.914 8.198 8,7% TOTAL NON-CURRENT ASSETS 3.986 3.942 1,1% TOTAL ASSETS 12.900 12.140 6,3% Sho
Slide 31: Statement of Profit or Loss - 31.03.2024
Statement of Profit or Loss and Other Comprehensive Income – 31.03.2024 (Mio TL) 31.03.2024 31.03.2023 % (Mio USD) 31.03.2024 31.03.2023 % Revenue 2.257 1.360 66% Revenue 73 72 1% Gross Profit 803 239 236% Gross Profit 26 13 105% Gross Profit Margin (%) 35,6% 17,6% Gross Profit Margin (%) 35,6% 17,6
Slide 32: Group Overview: Investments
G R O U P OV E R V I E W INVESTMENTS Our 270+ MW capacity of solar power plants in Türkiye, Romania and Bulgaria, operates as an integrated in to the grid. As of 2024, our 150+ MW solar power plant investment continues the installation process. As Smart Solar Technologies, we transfer the experience
Slide 33: Investment References
Slide 34: Investments
INVESTMENTS G R O U P OV E R V I E W ROMANIA 21MW TÜRKİYE 225MW ROMANYA Focsani BULGARIA 24MW Mihai Bravu Slobozia Boynitsa Rokovskovo Milkovista Smirnenski Kula BULGARİSTAN Vinarsko Kosta Perchevo Chemi Vrah Mokrishte Stambolovo Sreadets Sandanski Kralevo TÜRKİYE Tokat Yozgat Kırşehir Kütahya Nevşe
Slide 35: Medium Term Projected Pipeline
MEDIUM TERM PROJECTED PIPELINE TÜRKİYE - 1000 MW + BULGARIA - 780 MW + ROMANIA - 150 MW +
Slide 36: Global Overview
G LO BA L OV E R V I E W Offices Germany Bulgaria Switzerland Romania Türkiye Ukraine Greece Netherlands USA Countries we export Germany Austria Bulgaria Georgia Spain Italy Greece Ukraine South Africa Belgium +
Slide 37: Contact
CONTACT HEAD OFFICE Energy Plaza, Rüzgarlıbahçe, Feragat Street, No: 2, 6th Floor, 34805 Beykoz/İstanbul - Türkiye P: + 90 216 225 72 00 | F: + 90 850 305 06 10 GEBZE SOLAR MODULE FACTORY Gebze Industrial Area, Tembelova District, 3200 Street,No: 3207 Gebze/Kocaeli – Türkiye P: + 90 262 673 71 00 |
Smart Solar Technologies — Q1 2024 Earnings Presentation on 6ix