Aksa Enerji Uretim A.s. · BIST:AKSEN
Aksa Enerji Uretim A.s — 9M 2025 Earnings Presentation
15 slides from Aksa Enerji Uretim A.s's earnings presentation, Nov 11, 2025
Slide 1: 9M 2025 Earnings Presentation
1 9M 2025 EARNINGS PRESENTATION 11 November 2025
Slide 2: Key Highlights – 9M25
Key Highlights – 9M25 STRONG OPERATIONAL PROFITABILITY ACROSS THE BOARD TL million 3Q25 2Q25 q/q Quarterly - 3Q25 vs 2Q25 Net Sales 9,533 10,601 -10% EBITDA 3,484 3,160 10% Net Income 957 999 -4% 9M25 9M24 y/y Cumulative – 9M25 vs 9M24 Net Sales 31,109 28,835 8% EBITDA 9,823 7,068 39% Net Income 2,4
Slide 3: Regional Breakdown
Regional Breakdown FOREIGN OPERATIONS’ CONTRIBUTION TO EBITDA AT 78% TL million Domestic Foreign Share of Foreign %30 Cumulative- 9M25 Net Sales 21,863 9,246 %70 %22 EBITDA 2,118 7,705 %78 Profit Before Tax -1,050 5,486 TL million Domestic Foreign Share of Foreign %29 Cumulative- 9M24 Net Sales 20,5
Slide 4: Price Evolution in Turkish Market
Price Evolution in Turkish Market Price SPOT PRICES IN Evolution in Turkish TURKIYE INCREASED Market BY 17% Y/Y IN 9M’25 Average Spot Electricity Prices (TL/MWh) 3.500 2.878 2.750 2.520 2.415 2.390 2.371 2.000 3Q24 4Q24 1Q25 2Q25 3Q25 Average Spot Energy Prices • In 9M’25, average spot prices increa
Slide 5: Antalya PP - Key Highlights
Antalya PP - Key Highlights ANTALYA- 900 MW NATURAL GAS CCGT Ali Metin ACTIVE ROLEKazancı Antalya IN PRIMARY Power Plant AND SECONDARY – Key Highlights MARKETS Antalya Power Plant Location Technical Overview < ◼ Energy Source: Natural Gas Plant Overview ◼ Installed Capacity: 900 MW CCGT ◼ CoD: 2008
Slide 6: Bolu PP - Key Highlights
Bolu PP - Key Highlights BOLU GÖYNÜK- 270 MW LOCAL LIGNITE POWER PLANT Bolu Göynük SUPPORTED PERFORMANCE Power Plant – Key Highlights BY INCENTIVES FOR LOCAL FUEL Bolu Göynük Power Plant Location Technical Overview ◼ Energy Source: Local Lignite Plant Overview ◼ Installed Capacity: 270 MW (2x 135 MW
Slide 7: Northern Cyprus PP Key Highlights
Northern Cyprus - PP Key Highlights NORTHERN CYPRUS 188 MW COMBINED CYCLE HFO POWER PLANT USD BASED GUARANTEED ENERGY SALES Northern Cyprus Power Plant Location Technical Overview ◼ Energy Source: Liquid Fuel ◼ Installed Capacity: 188 MW Combined Cycle Plant Overview ◼ CoD: 2003 ◼ Contract Expiry: 2
Slide 8: Tashkent, Bukhara & Tallimarjon PP – Key Highlights
Tashkent, Bukhara & Tallimarjon PP – Key Highlights OUR TOTAL INSTALLED CAPACITY REACHED 1,220 MW IN UZBEKISTAN WITH Tashkent COMPLETION A, B and Bukhara OF COMBINED Power CYCLE PP IN Plants – Key Highlights TALLIMARJON Uzbekistan Power Plants’ Locations Technical Overview ◼ Energy Source: Natural G
Slide 9: 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 10: Consolidated Summary Income Statement
Annex CONSOLIDATED SUMMARY INCOME STATEMENT 9M25 9M24 Change MM TL Net sales 31,109 28,835 8% Cost of sales (23,379) (23,088) 1% Gross Profit 7,730 5,747 35% General & administrative costs (1,255) (1,332) -6% Marketing expenses (48) (81) -41% Other operating income 664 629 5% Other operating expense
Slide 11: Consolidated Summary Balance Sheet
Annex CONSOLIDATED SUMMARY BALANCE SHEET 9M25 YE24 YTD MM TL Cash and cash equivalents 7,992 1,323 504% Trade receivables 10,329 12,517 -17% Inventories 1,907 1,729 10% Total Current Assets 23,156 18,582 25% PP&E 84,756 77,506 9% Intangibles 2,971 2,032 46% Total Non-current Assets 93,077 85,241 9%
Slide 12: Consolidated Summary Quarterly Income Statement
Annex CONSOLIDATED SUMMARY QUARTERLY INCOME STATEMENT 3Q2025 3Q2024 Y/Y 2Q2025 Q/Q MM TL Net sales 9,533 10,929 -13% 10,601 -10% Cost of sales (6,752) (8,799) -23% (8,257) -18% Gross Profit 2,781 2,130 31% 2,344 19% General & administrative costs (420) (456) -8% (442) -5% Marketing expenses (21) (18
Slide 13: 2025 Guidance Maintained as of Nov'25
Annex 2025 2024GUIDANCE MAINTAINED AS OF NOV’25 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% 2
Slide 14: Contact Information
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.aksaenerji.com.tr/investor-relations 14
Slide 15: 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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