Enka Insaat Ve Sanayi A.s. · BIST:ENKAI
Enka Insaat Ve Sanayi A.s — Q4 2021 Earnings Presentation
52 slides from Enka Insaat Ve Sanayi A.s's earnings presentation, 2022
Slide 1: 4th Quarter - Engineering for a Better Future
4th Quarter ENGINEERING FOR A BETTER FUTURE
Slide 2: Introduction
Introduction EXPERIENCE RELIABILITY EVALUATION 64 Years of construction 555 projects in 47 countries have been Traded publicly on experience worldwide completed or under construction with Borsa Istanbul (BIST) historical value of USD 55 Billion with a market cap of USD 6,4 Billion (@ 31.12.2021) SYN
Slide 3: Milestones [1957-1976]
Milestones [1957-1976] Founded Focused on The Partnership as a limited liability design, engineering and was transformed into a joint partnership as Şarık Tara & construction activities of stock company as Sadi Gülçelik Enka Limited industrial plants, buildings ENKA İnşaat ve Sanayi A.Ş. Şirketi and
Slide 4: Milestones [1977-1996]
Milestones [1977-1996] Foundation First Natural Gas Outstanding ENKA Sports, education and combined cycle power achievements with fast- culture foundation and Sadi plant in Turkey 600 MW track projects in Libya, Gülçelik sports center Trakya CCCP Russia and Former establishments Soviet Union Countri
Slide 5: Milestones [1997-2006]
Milestones [1997-2006] Retail Business Power Generation Certified Development of shopping Power Generation by BSI for ISO 9001 Quality malls and retail business in as Independent Power Management System & ISO Moscow, Russia Producer (IPP) 14001 Environmental Management System & OHSAS 18001 Occupatio
Slide 6: Milestones [2007-2016]
Milestones [2007-2016] Iraq Re-Entry EPC in Russia Power Plants ENKA’s re-entry into Iraq oil ENKA as a main contractor EPC contracts awarded; & gas market by winning the has been awarded 400 MW Simple Cycle Power Plant contract for mechanical, Yajva State District Power Project at Bazyan, electrica
Slide 7: Milestones [2017-2021]
Milestones [2017-2021] Motorway Projects Global Partners After successfully completing the ENKA with its partner General Route 7 and the Route 6 Motorway Electric, will design and build Projects in Kosovo a new motorway the Samawa and Dhi Qar project; Morava Corridor, Serbia Combined Cycle Power Pla
Slide 8: Milestones [2017-2021]
Milestones [2017-2021] Libya Re-Entry Germany England After many years, ENKA The first heat and power ENKA UK Construction Ltd. undertook new projects but plant project, Dradenau is contracted to this time with its consortium Combined Heat and Power prefabricate, install and partner Siemens AG, 2 po
Slide 9: Mission, Vision and Values
Mission, Vision and Values Mission Vision Values Our Mission Our Vision Our Values to design, build and deliver safe, high- to be one of the best and define how we do work at ENKA. We quality and cost-effective construction innovative engineering & will not undertake or execute a project projects on
Slide 10: Sustainability
Sustainability ENKA, which operates in different sectors such as engineering and construction, energy, real estate and trade in many different geographies, has made a commitment to serve sustainable development in all its operations. The approach which ENKA has adopted to corporate sustainability is
Slide 11: Sustainability
Sustainability Doing Good Business Caring for Employees In carrying out its work honestly, in time and to the ENKA protects the health and ensures the safety of highest quality, ENKA ensures that a responsible and its employees and subcontractors. ethical approach is adopted at every level. ENKA wor
Slide 12: Sustainability
Sustainability Developing Communities Reducing Environmental Impact ENKA contributes to the welfare and development of ENKA measures and reports on its environmental local communities through its infrastructure and impact, sets targets and carries out improvements. superstructure investments. ENKA u
Slide 13: Shareholder Structure
Shareholder Structure 2,47% ENKA Treasury Stock 5,87% ENKA Foundation 9,05% Other 31,44% 51,17% Gülçelik Family Tara Family As of 31 March 2021 Address: Balmumcu Mah., Zincirlikuyu Yolu No: 10 Besiktas, Istanbul, Turkey 34349 Phone : +90 (212) 376 10 00 (pbx) Fax : +90 (212) 272 88 69 Web: www.enka.
Slide 14: Consolidated Financial Highlights
Consolidated Financial Highlights 2021 2020 2019 2018 2017 TOTAL ASSETS 9.102 8.454 8.318 7.796 8.031 TOTAL EQUITY 6.675 6.694 6.568 6.103 6.207 CASH & MARKETABLE SECURITIES 5.265 4.406 3.960 3.252 3.479 REVENUE 2.859 1.659 1.893 2.881 2.900 EBITDA 686 386 436 757 745 EBITDA MARGIN 24,0% 23,3% 23,1%
Slide 15: Revenues by Business Lines
Revenues by Business Lines 2021 2020 2019 2018 2017 USD % USD % USD % USD % USD % CONSTRUCTION 1.569 54,9 1.263 76,1 1.147 60,6 1.011 35,1 1.195 41,2 POWER GENERATION 797 27,9 0 0,0 324 17,1 1.474 51,2 1.337 46,1 REAL ESTATE 304 10,6 289 17,4 346 18,3 329 11,4 319 11,0 TRADE 252 8,8 154 9,3 119 6,3
Slide 16: EBITDA by Business Lines
EBITDA by Business Lines 2021 2020 2019 2018 USD % MRG USD % MRG USD % MRG USD % MRG CONSTRUCTION 385 56 25 201 52 16 142 33 12 209 28 21 POWER GENERATION 67 10 8 (17) (4) - 68 16 21 326 43 22 REAL ESTATE 194 28 64 187 48 65 213 49 62 204 27 62 TRADE 40 6 16 16 4 10 10 2 8 17 2 10 ELIMINATION 0 0 (1
Slide 17: Share Capital Increases (Shares Dividend-Bonus Issue)
Share Capital Increases (Shares Dividend-Bonus Issue) PREVIOUS SHARE INCREASED SHARE DATE INCREASE INCREASE (%) CAPITAL CAPITAL 25.05.2012 2.500 300 12,00 2.800 12.06.2013 2.800 400 14,29 3.200 21.05.2014 3.200 400 12,50 3.600 06.05.2015 3.600 400 11,11 4.000 23.05.2016 4.000 200 5,00 4.200 27.04.20
Slide 18: Dividend Payments
Dividend Payments GROSS CASH DIVIDEND D.P.F.S.* YEAR DATE NET RATE RATE TL USD TL USD 27.09.2017 3,59% 3,05% 165 46,2 0 0 2016 2017 13.12.2017 4,00% 3,40% 184 48,0 0 0 17.04.2018 12,00% 10,91% 552 134,8 32,3 7,89 2017 TOTAL 901 229,0 32,3 7,89 12.12.2018 4,00% 3,40% 200 37,3 0 0 2018 17.04.2019 15,0
Slide 19: Share Buy Back
Share Buy Back Decision Taken Share Amount Bought Number of Total Shares Percentage July 2016 8,4 Million 4,2 Billion 0,20% July 2017 4,6 Million 4,6 Billion 0,10% August 2017 4,6 Million 4,6 Billion 0,10% January 2018 4,6 Million 4,6 Billion 0,10% May 2018 4,6 Million 4,6 Billion 0,10% June 2018 5
Slide 20: Work Force
Work Force ENKA TURKEY Technical : 411 Administrative : 137 ENKA ABROAD Workers : 71 ENKA Abroad Total : 619 Technical : 614 Administrative : 426 Workers : 15.613 Total : 16.653 SUBSIDIARIES TURKEY Technical : 737 Administrative : 481 SUBSIDIARIES Workers : 1.708 Total : 2.926 ABROAD Technical : 35
Slide 21: Awards & Achievements
Awards & Achievements YAJVA ADMIRED COMPANY ENKA’s 411 MW CCPP Yajva State "Most Admired Construction District Power Plant EPC Project has Company of Turkey awards" for the been awarded “the Best Project in the years 2005 - 2012 by CAPITAL, a Power/Industrial Category” in 2013 business and economics
Slide 22: Awards & Achievements
Awards & Achievements DEVELOPMENT Kuntsevo Plaza, has been awarded in three categories of the prestigious RISK MANAGEMENT awards in 2016: Best Retail Architecture Turkish Power Company ENKA POWER Russia, Best Retail Development (5 has world class risk management article Stars) Russia and Best Retail
Slide 23: Address:
Address: Balmumcu Mah., Zincirlikuyu Yolu No: 10 Besiktas, Istanbul, Turkey 34349 Phone : +90 (212) 376 10 00 (pbx) Fax : +90 (212) 272 88 69 Web: www.enka.com E-mail: corporate.finance@enka.com 23 of 51
Slide 24: Engineering & Construction
Engineering & Construction The fields of Engineering & ENKA’s global solutions span Construction activities are; the entire project life cycle: • Oil & Gas Facilities, Pipelines Engineering, • Petrochemical Plants Fabrication, • Power Plants Procurement, • Industrial Plants Construction, • Airports,
Slide 25: Backlog as of December 31st, 2021
Backlog as of December 31st, 2021 Country Backlog % Russia 1.481 35,3 Serbia 494 11,8 Kazakhstan 469 11,2 Special Projects 446 10,6 England 267 6,4 Germany 202 4,8 Libya 198 4,7 Bahamas 119 2,8 Finland 104 2,5 USA 75 1,8 Turkey 69 1,6 Iraq 59 1,4 Others 212 5,1 Total 4.194 100 All figures given abov
Slide 26: Selected Projects Under Construction
Selected Projects Under Construction Samawa and Dhi Qar Combined Cycle Power Plant Projects Job Owner : Ministry of Electricity Location : Samawa (293 Km Northwest of Basra) Nasiriyah (230 Km Northwest of Basra) ENKA Share : USD 505 Million (1st Phases) ENKA, with its partner General Electric, will
Slide 27: Selected Projects Under Construction
Selected Projects Under Construction PJSC Nizhnekamskneftekhim 495 MW CCGT-TPP Job Owner : PJSC Nizhnekamskneftekhim, a member of TAIF Group Location : Nizhnekamsk, Republic of Tatarstan - Russia Siemens signed a contract for building 495 MW natural gas fired combined cycle power plant on a turnkey
Slide 28: Selected Projects Under Construction
Selected Projects Under Construction FGP 3GP Mechanical, Electrical & Instrumentation Installation Works Tengiz, Kazakhstan Job owner : Tengizchevroil Contractor : Senimdi Kurylys (Bechtel – ENKA Joint Venture with equal shares) Senimdi Kurylys LLP has been awarded a contract for mechanical, electri
Slide 29: Selected Projects Under Construction
Selected Projects Under Construction Kazan 250 MW Combined Cycle Power Plant Kazan, Tatarstan, Russian Federation Job owner : PJSC Kazanorgsintez (Member of the TAIF Group) In October 2019, Siemens signed a contract with PJSC Kazanorgsintez, a member of the TAIF Group, for the delivery, installation
Slide 30: Selected Projects Under Construction
Selected Projects Under Construction Morava Corridor Motorway Project Pojate – Preljina, Serbia Job owner : Government of the Republic of Serbia Ministry of Construction, Transport and Infrastructure ENKA and its joint venture partner Bechtel have been selected by the Government of the Republic of S
Slide 31: Selected Projects Under Construction
Selected Projects Under Construction St. Petersburg High-Technological Multifunctional Medical Complex (HMMC) Russian Federation ENKA commenced work in 2019 on design and construction of a High-Technology Multifunctional Medical Complex (HMMC) Project in St. Petersburg in the Russian Federation. The
Slide 32: Selected Projects Under Construction
Selected Projects Under Construction Marine & Land Works in Prince George Wharf, Nassau, the Bahamas Job owner : Nassau Cruise Port Limited (NCPL) Contractor : ENKA Construction and Development B.V. NCPL proposes to reinvigorate the current tourism infrastructure in Nassau by boosting the cruise shi
Slide 33: Selected Projects Under Construction
Selected Projects Under Construction Zainskaya 858 MW Combined Cycle Power Plant - Zainsk / Tatarstan, Russian Federation Job owner : Joint Stock Company “Tatenergo” The scope of work awarded to ENKA consists of design and survey works, construction and installation works, commissioning works, compr
Slide 34: Selected Projects Under Construction
Selected Projects Under Construction Tripoli West 671 MW & Misurata 650 MW Simple Cycle Power Plants - Libya Job owner : General Electricity Company of Libya For meeting the growing electricity demand of Libya, ENKA and its consortium partner Siemens signed contracts with General Electricity Company
Slide 35: Selected Projects Under Construction
Selected Projects Under Construction Hinkley Point C Nuclear Power Plant – Prefabrication, installation & erection of piping systems of power island - England Job owner : GE Steam Power Ltd. ENKA UK Construction Ltd., a subsidiary of ENKA İnşaat ve Sanayi A.Ş., is contracted by one of the main contr
Slide 36: Selected Projects Under Construction
Selected Projects Under Construction Dradenau Combined Heat and Power Plant - Germany Job owner : Wärme Hamburg GmbH On 15 September 2021, ENKA with its JV partner Uniper signed a contract with Waerme Hamburg GmbH for the turnkey construction of approximately 180 MW electric and district heating cap
Slide 37: Selected Projects Under Construction
Selected Projects Under Construction YANDEX Headquarters - Russia Job owner : Yandex LLC On December 13, 2021, ENKA signed a contract for the construction an innovative new headquarters for Yandex, the global technology leader, in the Gagarinsky District of Moscow, the Russian Federation. A new proj
Slide 38: Engineering & Fabrication
ENGINEERING & FABRICATION ÇİMTAŞ, a subsidiary of ENKA, is a leading provider of integrated engineering, procurement, welded fabrication, assembly and installation solutions for top-tier global customers. ÇİMTAŞ was incorporated in 1973 in Turkey as a local steel fabricator and now an EPMFI group of
Slide 39: Engineering & Fabrication
ENGINEERING & FABRICATION Address: Balmumcu Mah., Zincirlikuyu Yolu No: 10 Besiktas, Istanbul, Turkey 34349 Phone : +90 (212) 376 10 00 (pbx) Fax : +90 (212) 272 88 69 Web: www.enka.com E-mail: corporate.finance@enka.com 39 of 51
Slide 40: Foundation Engineering
FOUNDATION ENGINEERING KASKTAŞ, wholly owned subsidiary of ENKA, was established in 1957 as the piling group of ENKA. Having a vast and modern machinery and equipment fleet, KASKTAŞ has the ability to fulfill diverse requirements in the field of geotechnical engineering both in Turkey and abroad. De
Slide 41: Address:
Address: Balmumcu Mah., Zincirlikuyu Yolu No: 10 Besiktas, Istanbul, Turkey 34349 Phone : +90 (212) 376 10 00 (pbx) Fax : +90 (212) 272 88 69 Web: www.enka.com E-mail: corporate.finance@enka.com 41 of 51
Slide 42: Real Estate Portfolio
Real Estate Portfolio TYPE SIZE (NLA) OCCUPANCY RATE Class A Office Area 388.000 m2 91% USD 570/m2/year Retail Area 365.000 m2 92% USD 275/m2/year 5 Star Hotel 235 Rooms * * All assets are located in Moscow, except 1 shopping center which is located in St.Petersburg. * Occupancy and rate of rooms of
Slide 43: Investments in Russia
Investments in Russia RETAIL ( 365.000 m2 ) OFFICE ( 388.000 m2 ) 1 1 Leningradsky 12 Naberezhnaya Tower 2 Kuntsevo Plaza 13 Paveletskaya 3 Maryina Roshcha 14 Moskva Krasnye Holmy 3 4 Kashirskaya 15 MosENKA 5 Sevastopolsky 12 15 16 Ochenovski Naberejnaya 9 6 Vernadskogo 2 16 4 13-14 7 Belyaevo 6 8 P
Slide 44: Real Estate Revenue & EBITDA
Real Estate Revenue & EBITDA YEAR RENTAL REVENUE EBITDA EBITDA MARGIN 2021 304 194 63,8% 2020 289 187 64,7% 2019 346 213 61,6% 2018 329 204 62,0% 2017 319 193 60,5% 2016 319 223 69,9% 2015 382 267 69,9% All figures given above are in Million US dollars Address: Balmumcu Mah., Zincirlikuyu Yolu No: 1
Slide 45: Real Estate – Some Tenants
Real Estate – Some Tenants Address: Balmumcu Mah., Zincirlikuyu Yolu No: 10 Besiktas, Istanbul, Turkey 34349 Phone : +90 (212) 376 10 00 (pbx) Fax : +90 (212) 272 88 69 Web: www.enka.com E-mail: corporate.finance@enka.com 45 of 51
Slide 46: Real Estate Completed Investments
Real Estate Completed Investments Investment projects of ENKA TC (Fully owned by ENKA) Kuntsevo Multifunctional 1 Trade & Business Center Total Investment: USD 484 Million Total Area: 245.000 m2, Net Leasable Area: 90.000 m2 29.000 m2 Office and 61.000 m2 Retail Completion: 2015 Kashirskaya Plaza 2
Slide 47: Address:
Address: Balmumcu Mah., Zincirlikuyu Yolu No: 10 Besiktas, Istanbul, Turkey 34349 Phone : +90 (212) 376 10 00 (pbx) Fax : +90 (212) 272 88 69 Web: www.enka.com E-mail: corporate.finance@enka.com 47 of 51
Slide 48: Power Generation Overview
ENKA set a new world record for power plant availability Power Generation Overview (with 99.8% which is 7% over the industry average) over the 12- month period with GE 9 FA gas turbines 3 gas-fired combined cycle power plants Gebze, Adapazarı and Izmir with a total capacity of almost 4,1 Gigawatts A
Slide 49: Power Generation Debt Funding
Power Generation Debt Funding COMMITTED AMOUNTS TOTAL PROJECT FINANCE TOTAL Total Debt (75%) 1.530 US EXIM, USA 860 Total Equity (25%) 510 OPIC, USD 300 Total Project Cost 2.040 HERMES, GERMANY 185 OND, BELGIUM 125 OTHER BANKS 60 TOTAL 1.530 All outstanding project finance loans have been fully paid
Slide 50: Turkey's Energy Production
Turkey’s Energy Production 2020 2021 SOURCES Million Kwh % Million Kwh % Coal 106,265 36.5 104,115 33.0 Hydro 77,834 26.8 55,473 17.6 Natural Gas 68,073 23.4 107,340 34.0 Wind 24,487 8.4 30,901 9.8 Geothermal 9,316 3.2 10,105 3.2 Others 4,800 1.7 7,786 2.5 International (Net) (547) (0.2) (1,773) (0.
Slide 51: Turkey's Energy Demand
Turkey’s Energy Demand BILLON KWH CHANGE 12% 275 10% 8% 225 6% 4% 175 2% 0% 125 -2% 133 141 150 161 175 190 198 194 210 230 242 246 255 264 275 290 292 290 291 316 75 -4% Address: Balmumcu Mah., Zincirlikuyu Yolu No: 10 Besiktas, Istanbul, Turkey 34349 Phone : +90 (212) 376 10 00 (pbx) Fax : +90 (21
Slide 52: İnşaat ve Sanayi A.Ş.
İNŞAAT VE SANAYİ A.Ş. Balmumcu Mah., Zincirlikuyu Yolu No: 10, 34349 Beşiktaş / İstanbul Tel: +90 (212) 376 10 00 (pbx) Fax: +90 (212) 272 88 69
ENKA İnşaat ve Sanayi A.Ş. — Q4 2021 Earnings Presentation on 6ix