Turcas Holding A.s. · BIST:TRCAS
Turcas Holding A.s — Q3 2024 Earnings Presentation
18 slides from Turcas Holding A.s's earnings presentation, November 2024
Slide 1: 2024 3rd Quarter Earnings Presentation
2024 3rd Quarter Earnings Presentation
Slide 2: 9M24 General Overview
9M24 General Overview Turcas 9M24 IFRS Consolidated Net Income Bridging (9M24) (Inflation Adjusted – “IA”) (MM TL) Net Profit: 595 MM TL 25 -155 84 207 -135 239 595 -14 344 Turcas' Share in STAŞ BPA Revenues STAŞ Preferred Net Financing Turcas' Share in RTG Opex Monetary Loss Other (Net) Net Profit
Slide 3: At a glance – 9M24 vs 3Q24 (with IA)
At a glance – 9M24 vs [3Q24] (with IA) Retail (Fuel Distribution & Lubricants) VOLUME NET SALES EBITDA NET PROFIT 5,991 241,779 6,387 1,145 ths m3 MM TL MM TL MM TL Shell & Turcas in 9M24 in 9M24 in 9M24 in 9M24 [2,150 ths m3 in 3Q24] [75,944 MM TL in 3Q24] [2,508 MM TL in 3Q24] [1,418 MM TL in 3Q24
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 45,525 27,628 17,897 528 MMTL MM TL MM TL MM TL Shell & Turcas in 9M24 in 9M24 in 9M24 in 9M24 [54,250 MM TL in YE23] [37,053 MM TL in YE23] [17,1
Slide 5: 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 4,516 +4% y/y 4,678 867 -21% y/y +3% q/q -38% q/q +1,691 +1,738 +335 in Q3 686 in Q3 in Q3 +207 in Q3 9M2023 9M2024 9M2023 9M2024 Lubricants Sales Onsite Market Share Progress in 2021 - August
Slide 7: Shell & Turcas JV – Key Financial Highlights
Shell & Turcas JV – Key Financial Highlights Net Sales EBITDA MM TL MM TL -1% y/y -31% y/y 9,196 -30% q/q -69% q/q 243,705 241,779 +8,153 6,387 +108,615 +75,944 in Q3 in Q3 in Q3 +2,508 in Q3 9M2023 9M2024 9M2023 9M2024 Net Profit / Loss Shell & Turcas 9M24 & 3Q24 Highlights MM TL • Onsite B2B+B2C s
Slide 8: Cash inflows from Shell & Turcas
Cash inflows from Shell & Turcas MM TL 466 177 300 65 5 10 16 57 168 7 13 16 14 23 120 53 36 24 41 75 70 85 26 50 45 31 27 30 33 51 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 10M 2024* MM USD * 4 7 11 ** 6 8 9 11 15 39 8 11 34 14 30 20 18 15 16 15 13 13 7 12
Slide 9: 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 +11% y/y 2,318 4,004 2,081 -5% q/q 3,519 +1,139 +1,194 in Q3 2,720 2,805 in Q3 +779 2,644 2,268 in Q2 2,500 2,471 2,232 +789 1,530 in Q2 913 557 308 421 9M2023 9M2024 1Q212Q213Q
Slide 11: RWE & Turcas JV – Key Financial Highlights
RWE & Turcas JV – Key Financial Highlights Net Sales EBITDA MM TL MM TL -34% y/y +144% y/y 12,343 +476% q/q -33% q/q 996 +5,657 +804 8,153 in Q3 in Q3 +3,803 408 in Q3 -214 in Q3 9M2023 9M2024 9M2023 9M2024 Net Profit / Loss RWE & Turcas 9M24 & 3Q24 Highlights MM TL • Although the electricity genera
Slide 12: Turcas Consolidated IFRS Summary BS & PL
Turcas Consolidated IFRS Summary BS & PL IFRS Consolidated Financial Statements & Financing Ratios Income Statement, million TL 9M2023 9M2024 Y/Y Balance Sheet , million TL 2023 9M2024 YTD Revenues 0 0 n.m. Cash & Cash Equivalents 244 243 -1% Gross Profit 0 0 n.m. Associates (STAS & RTG) 8,619 8,854
Slide 13: Financial Deleveraging Successfully Completed
Financial Deleveraging Successfully Completed MM EUR Denizli CCPP +TKG PP Project Finance Loan Balance 200 As of 30.09.2024: 100% of Denizli CCPP Loans have been repaid. Current Loan Balance is 0 bringing Turcas to debt- 150 free and net cash position. 127 114 39 100 100 37 173 85 165 33 151 135 31
Slide 14: 2024 Guidance vs Realizations as of end of 3Q24
2024 Guidance vs Realizations as of end of 3Q24 Guidance Updated guidance Realizations (as of end (as of 18 April (as of 05 November Difference Unit of 3Q2024) 2024) 2024) Cash Inflows From Subsidiaries Shell & Turcas - Preferred Dividend (8 MM $) + BPA Revenue (7.6 MM $) MM 15.6 15.6 0.0 15.6 (BPA
Slide 15: What’s Next for Turcas?
What’s Next for Turcas? ➢ Dividend Payments ➢ Geographic Diversification 14
Slide 16: Annex
Annex Annex Slides 15
Slide 17: 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 9M24 241,779 6,387 1,145 8,153 996 84 9M23 243,705 9,196 1,080 12,343 408 -
Slide 18: 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