Turcas Holding A.s. · BIST:TRCAS
Turcas Holding A.s — 2Q24 Earnings Presentation
17 slides from Turcas Holding A.s's earnings presentation, 2024
Slide 1: 2024 2nd Quarter Earnings Presentation
2024 2nd Quarter Earnings Presentation
Slide 2: 1H & 2Q24 General Overview
1H & 2Q24 General Overview Turcas 1H24 IFRS Consolidated Net Income Bridging (1H24) (Inflation Adjusted – “IA”) (MM TL) Net Profit: 115 MM TL 42 -79 201 -75 -101 220 -83 115 -9 STAŞ BPA Revenues STAŞ Preferred Net Financing Income Turcas' Share in RTG Turcas' Share in STAŞ Opex Monetary Loss Other (
Slide 3: At a glance – 1H24 vs 2Q24 (with IA)
At a glance – 1H24 vs [2Q24] (with IA) Retail (Fuel Distribution & Lubricants) VOLUME NET SALES EBITDA NET PROFIT 3,841 152,255 3,561 -251 ths m3 MM TL MM TL MM TL Shell & Turcas in 1H24 in 1H24 in 1H24 in 1H24 [2,008 ths m3 in 2Q24] [84,199 MM TL in 2Q24] [1,505 MM TL in 2Q24] [-360 MM TL in 2Q24]
Slide 4: Associates of Turcas – Summary Balance Sheet Figures
Associates of Turcas – Summary Balance Sheet Figures Retail (Fuel Distribution & Lubricants) SHAREHOLDERS TOTAL ASSETS LIABILITIES PAID-IN CAPITAL EQUITY 46,466 31,224 15,242 528 MMTL MM TL MM TL MM TL Shell & Turcas in 1H24 in 1H24 in 1H24 in 1H24 [49,807 MM TL in YE23] [34,019 MM TL in YE23] [15,7
Slide 5: Annex & Shell & Turcas JV – Key Highlights
Annex& Turcas JV – Key Highlights Shell 4
Slide 6: Shell & Turcas JV – Volumes & Market Share
Shell & Turcas JV – Volumes & Market Share Onsite B2B + B2C Fuel Sales Commercial Fuel Sales ths m3 ths m3 +4% y/y 532 -10% y/y +4% q/q 2,940 -19% q/q 479 2,825 +263 in Q2 +1,586 +212 +1,525 in Q2 in Q2 in Q2 1H2023 1H2024 1H2023 1H2024 Lubricants Sales Onsite Market Share Progress in 2021 - June 20
Slide 7: Shell & Turcas JV – Key Financial Highlights
Shell & Turcas JV – Key Financial Highlights Net Sales EBITDA MM TL MM TL +23% y/y +272% y/y 152,255 +34% q/q +133% q/q 3,561 124,028 +84,199 in Q2 +1,505 +62,840 in Q2 in Q2 958 +646 in Q2 1H2023 1H2024 1H2023 1H2024 Net Profit / Loss Shell & Turcas 1H24 & 2Q24 Highlights MM TL • Despite the %4 inc
Slide 8: Cash inflows from Shell & Turcas
Cash inflows from Shell & Turcas MM TL 466 177 65 57 168 5 10 16 23 120 120 7 13 16 14 75 70 85 26 50 53 45 31 27 30 33 36 24 51 41 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 1H 2024* MM USD * 4 7 11 ** 6 8 9 11 15 39 8 11 34 30 14 20 18 15 16 15 13 13 7 12
Slide 9: Annex & RWE & Turcas JV – Key Highlights
Annex& Turcas JV – Key Highlights RWE 8
Slide 10: RWE & Turcas JV – Key Operational Highlights
RWE & Turcas JV – Key Operational Highlights Electricity Generation RTG Average Electricity Sales Price (TL/MWh) GWh 4,506 +33% y/y 4,004 +52% q/q 1,178 3,519 886 2,644 2,500 2,720 +611 +779 2,232 in Q22 2,268 2,471 +403 1,530 +789 in Q2 in Q2 913 421 557 308 323 1H2023 1H2024 4Q201Q212Q213Q214Q211Q
Slide 11: RWE & Turcas JV – Key Financial Highlights
RWE & Turcas JV – Key Financial Highlights Net Sales EBITDA MM TL MM TL -35% y/y 571 -69% y/y 6,139 -21% q/q -79% q/q +362 +2,355 in Q2 3,994 in Q2 +1,857 176 in Q2 +76 in Q2 1H2023 1H2024 1H2023 1H2024 Net Profit / Loss RWE & Turcas 1H24 & 2Q24 Highlights MM TL • Although the electricity generation
Slide 12: Turcas Consolidated IFRS Summary BS & PL
Turcas Consolidated IFRS Summary BS & PL IFRS Consolidated Financial Statements & Financing Ratios Income Statement, million TL 1H2023 1H2024 Y/Y Balance Sheet , million TL 2023 1H2024 YTD Revenues 0 0 n.m. Cash & Cash Equivalents 224 374 67% Gross Profit 0 0 n.m. Associates (STAS & RTG) 7,913 7,670
Slide 13: Financial Deleveraging Well On Track
Financial Deleveraging Well On Track MM EUR Denizli CCPP +TKG PP Project Finance Loan Balance 200 As of 30.06.2024: Ca. 98% of Denizli CCPP Loans have been repaid. 150 Current Loan Balance is 3.0 MM EUR, 127 which will be repaid latest on end of 114 June 2025. 39 100 100 37 173 85 165 33 151 135 31
Slide 14: What’s Next for Turcas?
What’s Next for Turcas? ➢ Dividend Payments ➢ Geographic Diversification 13
Slide 15: Annex
Annex Annex Slides 14
Slide 16: QoQ and YoY Segmental Analysis
QoQ and YoY Segmental Analysis Oil Segment Energy Segment MM TL Shell & Turcas RWE & Turcas (Turcas share: 30%) (Turcas share: 30%) Net Profit/ Net Profit/ Revenues EBITDA Revenues EBITDA Loss Loss After Inflation Accounting 1H24 152,255 3,561 -251 3,994 176 -264 1H23 124,028 958 -2,723 6,139 571 -6
Slide 17: Thank you!
Thank you! Contact Information Arif ŞAHİN Mert GÖKNAR Corporate Finance and Investor Finance Director Relations Manager E-mail: mert.goknar@turcas.com.tr E-mail: arif.sahin@turcas.com.tr Phone: +90 212 259 00 00 / Ext: 1243 Phone: +90 212 259 00 00 / Ext: 1238