Global Yatirim Holding A.s. · BIST:GLYHO
Global Yatirim Holding A.s — Global Investment Holdings — FY2017 Earnings Presentation
23 slides from Global Yatirim Holding A.s's earnings presentation, 2018
Slide 1: Financial Presentation YE 2017
GLOBAL INVESTMENT HOLDINGS Financial Presentation YE 2017
Slide 2: Current Portfolio (YE 2017)
Current Portfolio (YE 2017) Brokerage & Asset Ports Power/Gas/Mining Real Estate Management Revenue: 424.5mn TL Revenue: 308.4mn TL Revenue: 31.4mn TL Revenue: 41.4mn TL EBITDA: 274.6mn TL EBITDA: 13.0mn TL EBITDA: 20.6mn TL EBITDA: 1.8mn TL Net Debt: 242.3mn USD Avg. Maturity: 5.4 yrs Net Debt: 83.
Slide 3: I – Financial Review
G GLOBAL INVESTMENT HOLDINGS |— FINANCIAL REVIEW
Slide 4: Financial Highlights
Financial Highlights (TL mn) Net revenues 9M 2017 4Q 2017 9M 2016 4Q 2016 FY 2017 FY 2016 %change Power / Gas / Mining 243.7 64.7 170.4 54.4 308.4 224.8 37% Ports 316.2 108.3 264.7 82.4 424.5 347.0 22% Brokerage & Asset Management 29.2 12.2 23.6 6.7 41.4 30.3 36% Real Estate 21.6 9.9 18.6 7.2 31.4 2
Slide 5: Major Developments
Major Developments Global Ports Holding Plc (GPH) Listed on the London Stock Exchange in May 2017 PORTS • Offer Price: 740 pence per GPH share • Offer size: 207mn USD (including 7mn USD over-allotment) • Global Investment Holding received gross proceeds of approximately 81mn £ (105mn USD). • GPH r
Slide 6: Financial Highlights: Change in Revenue
Financial Highlights: Change in Revenue 850.0 5.6 9.3 800.0 750.0 83.6 700.0 77.4 650.0 805.9 600.0 550.0 630.0 500.0 FY 2016 Ports Gas/Power/Mining Real Estate Brokerage, Asset FY 2017 Mngmnt.&Others At the end of 2017, Global Investment Holdings’ (GIH) revenues reached TL805.9mn compared to TL63
Slide 7: Financial Highlights: Change in Operating EBITDA
Financial Highlights: Change in Operating EBITDA 290.0 -2,8 6,3 11.0 270.0 -14,0 2.6 250.0 44.7 230.0 210.0 278.4 190.0 230.6 170.0 150.0 FY 2016 Ports Gas/Mining/Power Real Estate Brokerage&Asset Holding Stand Other FY 2017 Mngmnt. Alone In the year of 2017, GIH reported operating EBITDA of 278.4
Slide 8: Financial Highlights: Operational EBITDA by Division
Financial Highlights: Operational EBITDA by Division (Reported EBITDA adjusted for non-recurring items) Operational EBITDA By Divison (in million TL) 200.0 180.0 160.0 140.0 120.0 100.0 80.0 60.0 40.0 20.0 0.0 -20.0 Port Ege Ports BPI VCP-Malta Port of Bar Bodrum Naturelgaz Straton Tres Real Estate
Slide 9: Financial Highlights: Change in P&L
Financial Highlights: Change in P&L • GIH reported a consolidated net loss of 329.2mn TL in 2017, compared to a net loss of 130.3mn TL in 2016. • The bottom line incorporated a 234.7mn TL one-off expenses, most of which are non-cash: The impact of IPO related expenses, together with intensive M&A
Slide 10: Financial Highlights: Change in Net Debt
Financial Highlights: Change in Net Debt • Cash injection from Global Ports Holding’s IPO and rights issue are accounted for under the equity according to IFRS27. • Following the successful IPO of the port business, coupled with the cash commitment from Centricus, consolidated Net Debt has decreased
Slide 11: II – Operational Performance by Division
II – OPERATIONAL PERFORMANCE BY DIVISION
Slide 12: Global Ports Holding
Global Ports Holding GPH Total Revenues Cruise EBITDA Margin* & & Comercial EBITDA Margin* Operational EBITDA (TL)* 71.9% 73.1% GPH managed to expand its cruise passenger base by 15.2% in 2017 YoY, 68.8% 64.1% through organic and inorganic growth. Pro-forma basis accounting for the 424.5 effect of
Slide 13: Power/Gas/Mining: Naturelgaz
Power/Gas/Mining: Naturelgaz Reported sales volume stood at 193.8mn m3 (including pipeline gas sales of 44.3mn m3), compared to 144.8mn m3 in 2016. Naturelgaz Naturelgaz recorded revenues of 212.2mn TL in 2017 (including pipeline Revenue & Volume * gas sales of 34.7mn TL for gas balancing). Op
Slide 14: Power/Gas/Mining: Straton Mining
Power/Gas/Mining: Straton Mining The Company realized 626,243 tons of product sales, indicating a 55% YoY volume growth in 2017 . The Company exported 473,973 tons feldspar mainly to Spain, Italy, Egypt and Middle East while domestic sales volume reached 152,270 tons. Straton continued sales o
Slide 15: Power/Gas/Mining Division: Co-Gen and Biomass
Power/Gas/Mining Division: Co-Gen and Biomass The Power division reported revenues of TL35.5mn in 2017 as opposed to TL16.4mn in 2016, mainly driven by co-generation business of the Group. As of 31 December 2017, the total contracted generation capacity of Tres Energy is 58.3MW. Of the total con
Slide 16: Power/Gas/Mining Division: Solar
Power/Gas/Mining Division: Solar GIH’s goal is to become a market pioneer in solar power development in Turkey. To reach this goal, GIH’s subsidiary, Ra Solar, has identified several suitable project locations for solar power generation in Turkey and conducted the mandatory studies to obtain a gen
Slide 17: Real Estate Division: Overview
Real Estate Division: Overview In 2017, revenues of the Real Estate Division were comprised of rent revenues and residential/commercial sale revenues. Rental revenues were generated from the Denizli Sumerpark Shopping Mall, which started its operations in March 2011 and Van Shopping Mall, which co
Slide 18: Brokerage & Asset Management Segment
Brokerage & Asset Management Segment Revenues of the Brokerage and Asset Management Division consists of securities brokerage commissions, interest revenues on margin lending transactions, portfolio management fees, proprietary trading revenues and advisory fees The Brokerage & Asset Management
Slide 19: III – Appendix
G GLOBAL INVESTMENT HOLDINGS lili - APPENDIX
Slide 20: Balance Sheet
Balance Sheet (TL Million) 31 Dec 2017 31 Dec 2016 Current Assets 940.6 628.8 Cash and Banks 439.9 209.0 Marketable Securities 5.5 12.1 Trade Receivables 195.3 134.7 Inventories 98.3 82.1 Other Receivables and Current Assets (1) 201.7 190.9 Non-current Assets 3,430.5 3,261.6 Financial Assets 5.4 4.3
Slide 21: Income Statement
Income Statement (TL mn) FY 2017 FY 2016 Total gross revenues 805.91 629.99 Cost of sales and services -564.04 -409.92 Gross Profit 241.87 220.07 Operating expenses -244.72 -188.18 Other operating income/(loss), net -207.96 -7.67 Equity pickup asset gains/(losses) 10.37 7.28 Gross operating profit/(
Slide 22: Debt Position
Debt Position Year of Amount TL Holding standalone debt (TL m) Currency Interest Rate Maturity mn US$ mn Eurobond, net USD fixed 2022 12.8 3.4 TL bond TL floating 2019 14.8 3.9 TL bond TL floating 2018 50.0 13.3 Secured bank loans EUR floating 2019 (1) 116.4 30.9 Gross debt 194.1 51.4 Cash and Cash
Slide 23: Disclaimer
Disclaimer The information contained in this document has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this docum
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