Aksa Enerji Uretim A.s. · BIST:AKSEN
Aksa Enerji Uretim A.s — Investor Presentation (April 2025)
34 slides from Aksa Enerji Uretim A.s's investor presentation, April 2025
Slide 1: Investor Presentation April 2025
1 Investor Presentation April 2025
Slide 2: Key Investment Highlights
Key Investment Highlights AKSA ENERGY: AN OUTLIER IN TURKISH ENERGY SECTOR Deep Expertise in Energy Sector Diversified Portfolio Guaranteed Long-term Hard Currency Based Revenues Sustainable Growth Resilient Business Model 2
Slide 3: Shareholder Structure
Shareholder Structure AKSA ENERGY: LISTED IN BIST SUSTAINABILITY, CORPORATE GOVERNANCE, DIVIDEND, PARTICIPATION, MSCI & FTSE INDICES AKSA ENERGY SHAREHOLDING STRUCTURE KAZANCI HOLDING SHAREHOLDING STRUCTURE Tülay Kazancı Mehmet Kazancı 4,8% Free Float 5,9% 20% Ali Metin Kazancı 29,0% Kazancı Holding
Slide 4: Power Generation by Fuel Type
Power Generation by Fuel Type TURKISH ENERGY SECTOR – 65% OF ELECTRICITY GENERATED FROM NON-RENEWABLE SOURCES 37% 36% 27% 26% 16% 14% 11% 9% 5% 6% 3% 3% 3% 3% Lignite & Coal Hydro Natural Gas Wind Solar Geothermal Other 3M2024 3M2025 Source: TEİAŞ 4
Slide 5: Price Evolution in Turkish Market
Price Evolution in Turkish Market Price SPOT PRICES IN Evolution in Turkish TURKIYE INCREASED Market SLIGHTLY BY 3% IN 2024 Average Spot Electricity Prices & Maximum Settlement Prices (TL/MWh) Maximum Settlement Price Implementation Period Spot Price Ceiling @ 3,000 TL/MWh Spot Price Ceiling @ 2,700
Slide 6: Monthly Change in Power Consumption
Monthly Change in Power Consumption TURKISH ENERGY SECTOR – 6% ANNUAL GROWTH IN 2024 15% 10% 9% 9% 8% 6% 5% 5% 4% 4% 3% 1% 1% 0,5% -1% 2024 vs 2023 2025 vs 2024 Source: TEİAŞ 6
Slide 7: Financial & Operational Highlights YE2024
FINANCIAL & OPERATIONAL HIGHLIGHTS YE2024
Slide 8: Key Highlights – YE24
Key Highlights – YE24 2024 REVENUES ABOVE; EBITDA ALMOST IN LINE WITH GUIDANCE 4Q24 3Q24 q/q TL million -1% Quarterly - 4Q24 vs 3Q24 Net Sales 8,649 8,714 EBITDA 1,925 1,996 -4% Net Income (441) 702 n.m. YE24 YE23 y/y Cumulative - YE24 vs YE23 Net Sales 31,639 50,782 -38% EBITDA 7,561 11,407 -34% Ne
Slide 9: Regional Breakdown
Regional Breakdown FOREIGN OPERATIONS’ CONTRIBUTION TO EBITDA AT 73% TL million Domestic Foreign Share of Foreign Cumulative- YE24 29% Net Sales 22,464 9,175 71% 27% EBITDA 2,043 5,518 73% Profit Before Tax (2,525) 7,224 TL million Domestic Foreign Share of Foreign Cumulative- YE23 22% Net Sales 39,
Slide 10: Shares of Regions in EBITDA
Shares of Regions in EBITDA FOREIGN OPERATIONS’ CONTRIBUTION INCREASING AS EXPECTED Shares of Regions in EBITDA 73% 58% 42% 27% Domestic Foreign YE23 YE24 YE23 YE24 Domestic Foreign • Foreign operations’ contribution increased to 73% of our EBITDA in YE24, as expected • Contribution of domestic oper
Slide 11: Domestic Operations
DOMESTIC OPERATIONS Antalya 900 MW Combined Cycle Natural Gas Power Plant
Slide 12: Domestic Operations at a Glance
Domestic Operations at a Glance MAJORITY OF DOMESTIC INSTALLED CAPACITY BASED ON NATURAL GAS Bolu-Göynük DOMESTIC 270 MW INSTALLED CAPACITY 1,358 MW Natural Gas (1 plant) 900 MW Fuel-Oil (1 plant) 188 MW Lignite (1 plant) 270 MW Antalya 900 MW Northern Cyprus 188 MW 12
Slide 13: Antalya PP - Key Highlights
Antalya PP - Key Highlights ANTALYA- 900 MW NATURAL GAS CCGT Ali Metin ACTIVE Kazancı PRESENCE Antalya SERVICES IN ANCILIARY Power Plant – Key Highlights Antalya Power Plant Location Technical Overview < ◼ Energy Source: Natural Gas Plant Overview ◼ Installed Capacity: 900 MW CCGT ◼ CoD: 2008 ◼ 2 Si
Slide 14: Bolu PP - Key Highlights
Bolu PP - Key Highlights BOLU GÖYNÜK- 270 MW LOCAL LIGNITE POWER PLANT Bolu Göynük SIGNIFICANT PowerINPlant RECOVERY – Key Highlights GENERATION Bolu Göynük Power Plant Location Technical Overview ◼ Energy Source: Local Lignite Plant Overview ◼ Installed Capacity: 270 MW (2x 135 MW) ◼ CoD: 2015 ◼ 2
Slide 15: Northern Cyprus - PP Key Highlights
Northern Cyprus - PP Key Highlights NORTHERN CYPRUS 188 MW COMBINED CYCLE HFO POWER PLANT USD BASED GUARANTEED ENERGY SALES Nothern Cyprus Power Plant Location Technical Overview ◼ Energy Source: Liquid Fuel ◼ Installed Capacity: 188 MW Combined Cycle Plant Overview ◼ CoD: 2003 ◼ Contract Expiry: 20
Slide 16: Renewable Energy Projects - Key Highlights
Renewable Energy Projects - Key Highlights 891.41 MW STORAGE-BASED WIND and SOLAR POWER PLANTS Key Highlights Power Plant Locations • On December 4, 2023, our preliminary licenses were granted for a total of 831.41 MW Storage Wind and Solar Energy Plants by EMRA. • With the acquisition of pre-licens
Slide 17: Foreign Operations
FOREIGN OPERATIONS Bukhara 298 MW Combined Cycle Natural Gas Power Plant
Slide 18: Contribution to the Energy Transition
Contribution to the Energy Transition ACTIVE IN CENTRAL ASIA SINCE 2022… ASIA INSTALLED CAPACITY KAZAKHSTAN 1,186 MW 240 MW UNDER CONSTRUCTION UZBEKISTAN Tashkent A CAPACITY 240 MW Tashkent B 252 MW 274 MW Bukhara 298 MW Tallimarjon (*) 396 MW (*) Simple cycle COD (equivalent of 396 MW installed cap
Slide 19: Country Snapshots – Central Asia
Country Snapshots – Central Asia ATTRACTIVE REGION WITH STRONG GROWTH POTENTIAL… Uzbekistan Kazakhstan Population 36.8 mn Population 20.1 mn Area 447,400 km2 Area 2,724,900 km2 GDP $ 90.8 bn GDP $ 261.4 bn GDP per capita $ 2,494 GDP per capita $ 13,279 Installed Capacity 17,659 MW Installed Capacity
Slide 20: Tashkent, Bukhara & Tallimarjon PP – Key Highlights
Tashkent, Bukhara & Tallimarjon PP – Key Highlights OUR TOTAL INSTALLED CAPACITY WILL INCREASE TO 1,220 MW IN UZBEKISTAN WITH Tashkent COMPLETIONA,OF B and Bukhara COMBINED CYCLEPower Plants – Key Highlights PP IN TALLIMARJON Uzbekistan Power Plants’ Locations Technical Overview ◼ Energy Source: Nat
Slide 21: Central Asia Projects
2 1 Central Asia Projects STRENGTHENING POSITION IN CENTRAL ASIA WITH FIRST INVESTMENT IN KAZAKHSTAN KAZAKHSTAN ◼ Project Name: Kyzylorda (Natural Gas Combined Heat and Power Plant) ◼ Installed Capacity : 240 MW CCGT (CHP) ◼ 2 GE 6FA GTG + Skoda Doosan ST ◼ Contract Terms: 15-year capacity payments
Slide 22: Attractive Region with Strong Growth Potential
Attractive Region with Strong Growth Potential ACTIVE IN AFRICA SINCE 2017… AFRICA INSTALLED CAPACITY(1) 430 MW (2) UNDER CONSTRUCTION CAPACITY 605 MW (1) Excludes Congo and Madagascar (2) As of 11 September 2024, 66 MW Madagascar power plant has been sold. However, Aksa Energy will continue to oper
Slide 23: Country Snapshots – Africa
Country Snapshots – Africa CONTRIBUTION TO ENERGY ACCESS Ghana Madagascar Mali Senegal Population 33.4 mn Population 29.6 mn Population 22.6 mn Population 17.32 mn Area 238,537 km2 Area 592,000 km2 Area 1,240,190 km2 Area 196,161 km2 GDP $ 73.8 bn GDP $ 15.3 bn GDP $ 18.8 bn GDP $ 27.68 bn GDP per c
Slide 24: Africa Operations – Key Highlights
Africa Operations – Key Highlights LONG TERM GUARANTEED ENERGY SALES IN HARD CURRENCY & Mali FUEL Power Plant – Key IS PASS THROUGH Highlights IN ALL OF OUR OVERSEAS OPERATIONS Africa Power Plants’ Locations Technical Overview ◼ Energy Source: Natural Gas + Liquid Fuel ◼ Installed Capacity: 370 MW P
Slide 25: Africa Projects – Pipeline
2 5 Africa Projects Africa Projects – Pipeline WE CONTINUE TO GROW IN AFRICA WITH GHANA AND SENEGAL INVESTMENTS GHANA ◼ Project Name: Kumasi (Natural Gas Combined Cycle Power Plant) ◼ Installed Capacity: 350 MW ◼ Siemens gas and steam turbines (Phase I) ◼ Contract Terms: 20-year PPA, guaranteed elec
Slide 26: Sustainability
SUSTAINABILITY
Slide 27: Sustainable Business Model
SUSTAINABILITY AT AKSA ENERGY SUSTAINABLE BUSINESS MODEL • The Company acts with the Responsibility of a Sustainable Business Model for a safe future. • The Company' sustainability approach is based on three pillars - Environmental Sustainability, Employees and Social Responsibility. • As a signator
Slide 28: We Are Committed to Sustainable Development Goals
SUSTAINABILITY AT AKSA ENERGY WE ARE COMMITTED TO SUSTAINABLE DEVELOPMENT GOALS! • Aksa Energy prioritizes identifying and managing the significant environmental impacts of the industry, respecting human and employee rights, and contributing to social development in the regions where it operates. •
Slide 29: Annex
ANNEX
Slide 30: Consolidated Summary Income Statement
Annex CONSOLIDATED SUMMARY INCOME STATEMENT YE24 YE23 y/y MM TL Net sales 31,639 50,782 -38% Cost of sales (24,951) (40,364) -38% Gross Profit 6,688 10,418 -36% General & administrative costs (1,487) (1,135) 31% Marketing expenses (40) (34) 17% Other operating income 376 686 -45% Other operating exp
Slide 31: Consolidated Summary Balance Sheet
Annex CONSOLIDATED SUMMARY BALANCE SHEET YE24 YE23 ytd MM TL Cash and cash equivalents 1,054 1,148 -8% Trade receivables 9,980 19,535 -49% Inventories 1,378 1,294 7% Total Current Assets 14,814 24,675 -40% PP&E 61,792 50,557 22% Intangibles 1,620 1,598 1% Total Non-current Assets 67,959 55,898 22% T
Slide 32: 2025 Guidance
Annex 2025 2024GUIDANCE BEKLENTİLERİ FINANCIAL 2024 ACTUAL 2025 GUIDANCE COMPOSITION COMPOSITION INDICATOR (MM TL) (MM TL) 24% 40% 60% 76% NET SALES 31,639 Domestic Foreign 36,850 Domestic Foregin 27% 14% 73% 86% EBITDA 7,560 Domestic Foreign 11,005 Domestic Foreign 16% 26% 21% 43% 63% 31% CAPEX 18,
Slide 33: Investor Relations
Contact Information INVESTOR RELATIONS Pınar Saatcıoğlu Investor Relations and Sustainability Director investorrelations@aksaenerji.com.tr +90 216 681 1053 Rüzgarlıbahçe Mh . Özalp Çıkmazı No:10 Kavacık / Beykoz Istanbul Aksa Enerji Üretim A.Ş. https://www.aksainvestorrelations.com/tr/ana-sayfa/ 33
Slide 34: 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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