Turcas Holding A.s. · BIST:TRCAS
Turcas Holding A.s — Turcas Petrol — 9M21 Earnings Presentation
13 slides from Turcas Holding A.s's earnings presentation, November 2021
Slide 1: 3Q & 9M21 Earnings Presentation
3Q & 9M21 Earnings Presentation
Slide 2: 3Q & 9M21 General Overview
3Q & 9M21 General Overview Turcas 9M21 Turcas Petrol IFRS Consolidated Net Income/Loss Bridging (9M21) Net Profit: +67 MM TL 44 7 7 -25 -14 94 -87 67 36 7 Turcas Kuyucak STAŞ Turcas share in Turcas share in Fair value Deferred Tax Holding & Turcas Usufruct Net Financing Profit For The Geothermal Gro
Slide 3: At a glance - 9M21 & [3Q21]
At a glance - 9M21 & [3Q21] VOLUME (1) NET SALES EBITDA (2) NET PROFIT 4.9 MM 36,288 1,699 312 m3 MM TL MM TL MM TL Shell & Turcas in 9M21 in 9M21 in 9M21 in 9M21 [2.1 MM m3 in 3Q] [15,841 MM TL in 3Q] [746 MM TL in 3Q] [268 MM TL in 3Q] 3.0 MMM 1,392 188 148 kWh MM TL MM TL MM TL RWE & Turcas in 9M
Slide 4: Quarterly & YoY Segmental Analysis
Quarterly & YoY Segmental Analysis Oil Segment Energy Segment MM TL Shell & Turcas RWE & Turcas TKG (Turcas share: 30%) (Turcas share: 30%) (Turcas share: 100%) Net Net Net Profit/ EBITDA Revenues EBITDA Revenues EBITDA Profit/ Revenues Profit/ Loss (*) Loss Loss 3Q21 15,841 746 268 712 135 124 18 1
Slide 5: Shell & Turcas JV – 9M21 Key Operational Highlights
Shell & Turcas JV – 9M21 Key Operational Highlights Onsite B2B + B2C Fuel Sales Commercial Fuel Sales ths m3 ths m3 +19% y/y +33% y/y 792 3.496 2.932 +1.538 +318 in Q3 596 in Q3 9M2020 9M2021 9M2020 9M2021 Lubricants Sales Onsite Market Share Progress in 2021 1 ths m3 18,8% 18,6% 18,7% +12% y/y 102
Slide 6: Shell & Turcas JV – 9M21 Key Financial Highlights
Shell & Turcas JV – 9M21 Key Financial Highlights Net Sales EBITDA MM TL MM TL +45% y/y 36.288 +168% y/y 1.699 +746 +15.841 24.967 in Q3 in Q3 633 9M2020 9M2021 9M2020 9M2021 Net Profit / Loss Shell & Turcas 9M21 Highlights MM TL • Total sales volume is up by 20% compared to previous year (11% up co
Slide 7: Continuous Cash inflows from Shell & Turcas
Continuous Cash inflows from Shell & Turcas Dividends & Management Fees & SHL Interest Received from Shell & Turcas MM TL 148 MM TL dividends received in 3Q19. Out of that amount, 73 MM TL transferred back to STAS as SHL. It is planned to be repaid to Turcas in 3Q 2022. 65 57 148 5 10 16 14 13 16 70
Slide 8: RWE & Turcas JV – 9M21 Key Financial Highlights
RWE & Turcas JV – 9M21 Key Financial Highlights Net Sales EBITDA MM TL MM TL +24% y/y +716% y/y 188 1.392 +135 1.118 +712 in Q3 in Q3 23 9M20 9M21 9M20 9M21 Net Profit / Loss RWE & Turcas 9M21 Highlights MM TL • Although the generation is down by %2; net sales has increased by 24% due to increase pr
Slide 9: RWE & Turcas JV – 9M21 Key Operational Highlights
RWE & Turcas JV – 9M21 Key Operational Highlights Gas Consumption Electricity Generation mcm GWh -3% y/y -2% y/y 586 3.074 3.022 567 +1.209 +227 in Q3 in Q3 9M20 9M21 9M20 9M21 Cash inflows to Turcas from RWE & Turcas JV RTG Average Electricity Sales Price (TL/MWh) (under SHL repayment) MM TL 557 31
Slide 10: Turcas Kuyucak Geothermal (TKG) PP-9M21 Key Highlights
Turcas Kuyucak Geothermal (TKG) PP-9M21 Key Highlights Net Sales EBITDA* MM TL MM TL 42 +42% y/y 57 +44% y/y +12 +18 29 in Q3 40 in Q3 9M2020 9M2021 9M2020 9M2021 Electricity Generation Turcas Kuyucak Geothermal PP 9M21 Highlights million kWh • Additional production well and 2 ESP pump investments 5
Slide 11: Turcas Consolidated IFRS Summary BS & PL
Turcas Consolidated IFRS Summary BS & PL IFRS Consolidated Financial Statements & Financing Ratios Balance Sheet , million TL 2020 9M2021 Ytd Income Statement, million TL 9M2020 9M2021 Y/Y Revenues (Electricity Sales) 40 57 42% Cash & Cash Equivalents 102 128 25% Gross Profit 23 36 53% (from STAŞ, 2
Slide 12: Financial Deleveraging Ongoing – Planned Schedule
Financial Deleveraging Ongoing – Planned Schedule MM EUR Denizli CCGT Project Finance Loan Principal Outstanding Balance 200 173 165 151 150 135 120 102 100 88 77 67 54 50 40 25 8 - 0 2013Dec 2013 Dec. A 2013 2013YE A 2014 2014YE A 2015 2015YE A 2016 2016YE A 2017 2017YE A 2018 2018YE A 2019 2019 YE
Slide 13: Thank you!
Thank you! Contact Information Arif ŞAHİN Mert GÖKNAR Corporate Finance and Investor Finance and Investor Relations Manager Relations Deputy 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