Aksa Enerji Uretim A.s. · BIST:AKSEN
Aksa Enerji Uretim A.s — 9M 2023 Earnings Presentation
20 slides from Aksa Enerji Uretim A.s's earnings presentation, Nov 7, 2023
Slide 1: 9M 2023 Earnings Presentation
9M 2023 Earnings Presentation 7 November 2023
Slide 2: Key Highlights – 9M23
OPERATIONAL PROCESS SUPPORTING MARGINS Key Highlights – 9M23 TL million 3Q23 3Q22 q/q Quarterly- 3Q23 vs 3Q22 Net Sales 7,356 15,161 -51% EBITDA 1,810 1,975 -8% Net Income 1,203 1,454 -17% (*) Net Financial Debt 9,129 7,365 24% 9M23 9M22 y/y Cumulative-9M23 Net Sales 20,864 33,730 -38% EBITDA 4,831
Slide 3: Regional Breakdown
FOREIGN OPERATIONS’ CONTRIBUTION TO EBITDA AT %64 Regional Breakdown TL million Domestic Foreign Share of Foreign Quarterly- 3Q23 24% Net Sales 5,599 1,757 76% 36% EBITDA 648 1,162 64% 12% Profit Before Tax 221 1,643 88% Net Sales EBITDA Note: Foreign operations include Africa and Asia operations. N
Slide 4: Regional Breakdown
PERFORMANCE SUPPORTED BY FOREIGN CURRENCY-BASED PRICING FOR AFRICA, ASIA AND CYPRUS POWER PLANTS Regional Breakdown Domestic Foreign Total Quarterly- 3Q23 Sales Volume (GWh) 2,187 1,477 3,664 Sales Price (TL/MWh) 2,521 1,011 2,010 Domestic Foreign Total Cumulative- 9M23 Sales Volume (GWh) 6,067 4,55
Slide 5: Sales Channel Breakdown
STRONG RECOVERY IN DOMESTIC SALES PRICES Sales Channel Breakdown Net Sales Volume by Channel (9M23) Sales Price by Channel (TL/MWh) 3,483 5% 568 2,792 2,773 GWh 2,242 2,324 2,186 2.101 2,023 3,485 43% 4,555 GWh GWh 33% 1.0051,071 2,012 GWh 19% Northern BSM (Spot Affiliated DisCo OTC&Bilateral* Forei
Slide 6: Bolu PP Key Highlights
3Q23 SALES PRICE AVERAGE STILL ABOVE 2022 LEVELS DESPITE PRICE CAP MECHANISM Bolu PP Key Highlights Energy Source: Lignite Coal Installed Capacity: 270 MW Generation (Gross): 1,468 GWh (9M23) CUR: 83% (9M23) Capacity Payment: 38 MM TL (9M23) Sales Composition: 7% Day Ahead Market, 88% Bilateral, 5%
Slide 7: Antalya PP Key Highlights
ACTIVE PRESENCE IN SECONDARY FREQUENCY CONTROL MECHANISM Antalya PP Key Highlights Energy Source: Natural Gas Installed Capacity: 900 MW Generation (Gross): 2,979 GWh (9M23) Capacity Payment: 122 MM TL (9M23) CUR: 59% (9M23) Adjusted CUR (*): 75% (9M23) • Base load power plant with high efficiency r
Slide 8: Şanlıurfa PP Key Highlights
EFFECTIVE UTILIZATION OF ANCILIARY SERVICES Şanlıurfa PP Key Highlights Energy Source: Natural Gas Installed Capacity: 147 MW Generation (Gross): 1240 GWh (9M23) CUR: 29% (9M23) Adjusted CUR (*): 50% (9M23) • Şanlıurfa Power Plant resumed its operations from Aug’21 onwards driven by favorable market
Slide 9: Northern Cyprus PP Key Highlights
USD BASED CAPACITY CHARGE SUPPORTIVE OF MARGINS Northern Cyprus PP Key Highlights Energy Source: Fuel Oil Installed Capacity: 153 MW Generation (Gross): 577 GWh (9M23) CUR: 57% (9M23) PPA Price: 3,483 TL/MWh (9M23) Contract Expiry: 2038 • Northern Cyprus PP benefits from USD based guaranteed capacit
Slide 10: Africa Operations - Key Highlights
FUEL IS PASS THROUGH IN ALL OF OUR OVERSEAS OPERATIONS Africa Operations - Key Highlights • Ghana PP benefits from USD based guaranteed capacity charge for 332 MW out of 370 MW installed capacity. PPA extended for 15 years in Oct’22. • The power plant also generates revenue from sales to the spot ma
Slide 11: Uzbekistan Operations - Key Highlights
SIGNIFICANT CONTRIBUTION FROM UZBEKISTAN Uzbekistan Operations - Key Highlights • 25 year power purchase agreement (PPA) including guaranteed capacity payment in USD terms signed with the Ministry of Energy of Uzbekistan on May’20 regarding 240 MW natural gas combined cycle (CCGT) power plant in Tas
Slide 12: Congo Project - Key Highlights
100 MW GAS POWER PLANT’S OPERATING RIGHTS OBTAINED IN JAN’21 Congo Project - Key Highlights • On 21 January 2021, Aksa Enerji Üretim A.Ş.’s 100% subsidiary Aksa Energy Company Congo has signed a concession agreement with Republic of Congo about obtaining operating rights of a 50 MW natural gas power
Slide 13: Kazakhstan Project - Key Highlights
240 MW COMBINED HEAT AND POWER PLANT TENDER WON Kazakhstan Project - Key Highlights • On 13 July 2022, Aksa Energy's Kazakhstan branch has won the tender organized by Kazakhstan Electricity and Power Market Operator regarding 240 MW Kyzylorda combined heat and power plant project • Power plant is ex
Slide 14: Kumasi Natural Gas PP- Key Highlights
350 MW NATURAL GAS POWER PLANT AGREEMENT SIGNED IN KUMASI, GHANA Kumasi Natural Gas PP- Key Highlights • Aksa Energy Company Ghana Limited, a subsidiary of Aksa Enerji Üretim A.Ş., signed a contract with the Electricity Company of Ghana on April 6, 2023 for the construction of the Kumasi combined cy
Slide 15: Renewable Energy Projects - Key Highlights
561.04 MW STORAGE-BASED WIND and SOLAR POWER PLANTS, WITH 35 MW SOLAR POWER PLANT IN GÖYNÜK, STRONG START IN RENEWABLE SECTOR Renewable Energy Projects - Key Highlights • On October 13, 2022, our preliminary licenses were granted for a 701.95 MW Storage Wind and Solar Energy Plant in our renewable e
Slide 16: Consolidated Summary Income Statement
ANNEX Consolidated Summary Income Statement 9M23 9M22 y/y MM TL Net sales 20,864 33,730 -38% Cost of sales (16,198) (29,276) -45% Gross Profit 4,666 4,454 5% General & administrative costs (426) (193) 120% Marketing expenses (13) (8) 55% Other operating income 146 144 1% Other operating expenses (57
Slide 17: Consolidated Summary Balance Sheet
ANNEX Consolidated Summary Balance Sheet 9M23 YE22 ytd MM TL Cash and cash equivalents 1,426 937 52% Trade receivables 11,753 9,217 184% Inventories 694 244 217% Total Current Assets 14,900 11,416 31% PP&E 28,006 21,295 32% Intangibles 478 346 38% Total Non-current Assets 29,364 21,816 35% Total Ass
Slide 18: 2023 Guidance
2023 GUIDANCE FINANCIAL INDICATORS 2022 ACTUAL COMPOSITION 2023 GUIDANCE COMPOSITION %10 %24 Net Sales %90 %76 (MM TL) 45,638 Domestic Foreign 27,714 Domestic Foreign 23% Uzbekistan %59 36% Africa %52 EBITDA %48 %41 (MM TL) 6,559 Domestic Foreign 7,788 Foreign Domestic %3 %60 %28 32% %65 CAPEX 12% (
Slide 19: Contact- Investor Relations
Contact- Investor Relations Cevdet Yalçın CFO investorrelations@aksaenerji.com.tr +90 216 681 1053 Rüzgarlıbahçe Mh. Özalp Çıkmazı No:10 Kavacık / Beykoz, Istanbul 19
Slide 20: Disclaimer
Disclaimer Aksa Energy has prepared this presentation for the sole purpose of providing information, which contains forward-looking statements that reflect the Company management’s current views with respect to certain future events. Although it is believed that the expectations reflected in these s
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