Galata Wind Enerji A.s. · BIST:GWIND
Galata Wind Enerji A.s — Q2 2026 Earnings Presentation
22 slides from Galata Wind Enerji A.s's earnings presentation, 2026
Slide 1: Galata Wind Enerji A.Ş. Investor Presentation Q2 2026
Galata Wind Enerji A.Ş. Investor Presentation Q2 / 2026 1. Q2 2026 Highlights 2. Energy Market in Türkiye 3. Operational Data 4. Financial Data 5. Appendices
Slide 2: Q2 2026 Highlights
1. Q2 2026 Highlights Signals of recovery are positive following a challenging quarter. The period of lowest prices in MCP hit its lowest level in May with an USD terms is now behind. average of $13, and recovered in July to reach an average around $60. The share of YEKDEM (Renewable Energy Support
Slide 3: Energy Market in Türkiye
2. Energy Market in Türkiye
Slide 4: Türkiye Installed Capacity | Dec 2025/Jun 2026
Türkiye Installed Capacity | Dec 2025/Jun 2026 Total Installed Capacity 126,055 MW INSTALLED CAPACITY BY ENERGY RESOURCES (MW) INSTALLED CAPACITY BY ENERGY UTILITIES (MW) 32,294 PRODUCTION 75,004 HYDRO +20 +1,746 32,314 COMPANIES 76,750 23,603 NATURAL GAS +1,175 24,778 20,841 EÜAŞ -11 22,307 20,830
Slide 5: Türkiye Energy Generation | Jun 2025/Jun 2026
Türkiye Energy Generation | Jun 2025/Jun 2026 Total Energy Production 176,443 GWh GENERATION BY ENERGY RESOURCES (GWh) GENERATION BY ENERGY UTILITIES (GWh) 55,076 PRODUCTION 133,634 COAL -10,151 +6,577 44,925 COMPANIES 127,057 33,937 HYDRO +23,044 56,981 20,716 EÜAŞ +8,669 29,385 35,052 NATURAL GAS
Slide 6: Türkiye Energy Market | Electricity Consumption
Türkiye Energy Market | Electricity Consumption Total Consumption (thousand GWh) 3.6% CAGR 361 331 303 279 246 210 198 2008 2010 2013 2016 2019 2022 2025 4.1% 2.0% 165 172 175 2024 2025 2026 (6M) (6M) (6M) 6
Slide 7: Electricity Prices (2024-2026)
Electricity Prices (2024-2026) TRY/MWh 2024 2025 2026 Average Prices (TRY) 3,500 2,965 2,939 2,973 Year PTF Annual (%) 2,895 2,784 3,000 2,729 2,740 2,478 2,453 2,700 2,500 2,327 2,202 2024 2,233 1.9 2,184 2,589 2,574 2,509 2,078 2,463 2,446 2,396 2,000 2,190 2,336 2025 2,607 16.7 2,047 2,095 1,943
Slide 8: Operational Data
3. Operational Data
Slide 9: Galata Wind Portfolio
Galata Wind Portfolio Çorum SSP Good location and Taşpınar WPP & Erzurum SSP efficient operation Hybrid SPP (Bursa) Best generation in (Unlicensed) Operational since March 2021 its distribution zone Hybrid Solar added Dec. 2023 (Unlicensed) Şah WPP (Balıkesir) Among the biggest WPPs in Türkiye Mersin
Slide 10: Key Operational Figures - WPP & SPP
Key Operational Figures - WPP & SPP Capacity Usage Factor WPP Galata Wind WPP Generation - GWh 50% 900 827 800 741 758 45% 690 678 700 40% 600 500 14% 431 35% 400 333 322 317 322 311 377 125 281 30% 300 222 225 218218 235 183 192 169 113 151 200 147 25% 119 100 154 145 20% 0 2021 2022 2023 2024 2025
Slide 11: Operation | Generation
Operation | Generation Generation Growth 900 881 14 810 40 793 800 14 745 39 13 730 38 14 14 700 41 37 235 183 601 147 218 600 556 14 169 40 514 14 2 13% 29 500 463 14 455 428 437 421 6 386 384 311 403 18 400 322 333 20 7 326 327 344 317 322 125 317 113 300 326 292 299 295 277 273 154 193 200 145 28
Slide 12: Ongoing Investments
Ongoing Investments Total Installed Capacity - Present 2027 2030-2035 Alapınar WPP (New License) 16 MW Mersin WPP 99.9 MW Şah WPP (Capacity expansion) 8 MW European SPP Investments 100 MW Şah WPP 105 MW Taşpınar WPP + Hybrid SPP 115.2 MW European SPP Investments 200 MW • Germany Agri PV 63 MW PPs wi
Slide 13: Financial Data
4. Financial Data Unless otherwise stated, financial data in the presentation expressed on a purchasing power basis of 30 June 2026.
Slide 14: Financial Performance
Financial Performance REVENUE EBITDA - EBITDA MARGIN CAPEX (million TRY) (million TRY - %) (million TRY) Purchase of PPE & Intangible Assets -29.8% -45.0% -23.9% 1,578 1,106 -54.0% -78.3% 1,138 1,107 608 866 -7.2% 799 552 70.1% 54.9% 69.1% 32.6% 367 390 362 120 2025 6M 2026 6M 2025 Q2 2026 Q2 2025 6
Slide 15: Balance Sheet & Leverage
Balance Sheet & Leverage TOTAL ASSETS EQUITY (million TRY) (million TRY) -1.4% 8.0% 23,951 23,622 17,975 16,639 2025 12M 2026 6M 2025 12M 2026 6M FREE CASH NET FINANCIAL DEBT*/EBITDA** NET FINANCIAL DEBT*/EQUITY (million TRY) 1.59 0.11 2025 6M 2026 6M 0.09 -41 -721 0.71 2025 6M 2026 6M 2025 12M 2026
Slide 16: Balance Sheet & Leverage
Balance Sheet & Leverage NET FX POSITION CASH AND CASH EQUIVALENTS BY CURRENCY (million TRY) (%) 2025 12M 2026 6M USD 3% TRY Q2 2026 70% TRY 1.1 27% billion -2,415 -2,747 EUR 13.7% DEBT MATURITY PROFILE GROSS DEBT BY CURRENCY (%) (%) >5 years 8% Up to 1 year 4 years 26% 18% USD Q2 2026 Q2 2026 Avera
Slide 17: Balance Sheet - Dec 2025/30 Jun 2026
Balance Sheet - 31 Dec 2025/30 Jun 2026 Current Assets: Consolidated Financial Statement Change compared 31 Dec 2025 30 Jun 2026 Due to the impact of capital expenditures and loan principal and (m TRY) to 31 Dec 2025 interest payments, current assets declined by 36% to TRY 1,658 Total Assets 23,951
Slide 18: P&L Table - Jun 2025/2026
P&L Table - 30 Jun 2025/2026 Consolidated Income Statement Gross Profit: 2025 6M 2026 6M Yearly Change (m TRY) Consolidated revenues in the first half of 2026 stood at TL 1,107 Revenue 1,578 1,107 -30% million, down 30% year-on-year, as a 34% drop in MCP and an indexing rate of 32% offset a 13% incr
Slide 19: Appendices
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Slide 20: Revised 2026 Guidance
Revised 2026 Guidance 2025 Actual Previous 2026 Targets Revised 2026 Targets CAPEX TRY 1.6 billion TRY 6.8 billion TRY 6.1 billion Annual Generation 880,937 MWh 950,000 - 1,000,000 MWh 950,000 - 1,000,000 MWh EBITDA Margin 68% 65-70% range ~60% 20
Slide 21: Financial Data | Quarters before TAS 29 Inflation Adjustments
Financial Data | Quarters before TAS 29 Inflation Adjustments* Income Statement (TRY) Q2-2025 Q1-2026 Q2-2026 Quarterly % Annual % Revenue 598,238,715 671,986,017 363,933,932 -46% -39% Gross Profit/(Loss) 410,946,176 456,288,687 144,666,257 -68% -65% Operating Profit/(Loss) 464,875,876 521,553,935 27
Slide 22: Disclaimer
Disclaimer All information contained in this presentation (“Presentation”), which consists of documents and appendices, is provided by Galata Wind Enerji A.Ş. It has been prepared by GWIND to present information, insights and statements about the company (GWIND). The accuracy, adequacy and completen
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