Global Yatirim Holding A.s. · BIST:GLYHO
Global Yatirim Holding A.s — Global Investment Holdings — H1 2019 Earnings Presentation
25 slides from Global Yatirim Holding A.s's earnings presentation, 2019
Slide 1: Financial Presentation H1 2019 Results
GLOBAL INVESTMENT HOLDINGS Financial Presentation H1 2019 Results
Slide 2: Current Portfolio (H1 2019)
Current Portfolio (H1 2019) Brokerage & Asset Ports1 Power/Gas/Mining Real Estate Management 3 Revenue: 306.3mn TL Revenue: 283.7mn TL Revenue: 21.4mn TL Revenue: 24.6mn TL EBITDA: 195.2mn TL EBITDA: 45.7mn TL EBITDA: 10.3mn TL EBITDA: 0.8mn TL Net Debt: 286.6mn USD / Avg. Maturity: 3.2yrs Net Debt:
Slide 3: I – Financial Review
G GLOBAL INVESTMENT HOLDINGS |— FINANCIAL REVIEW
Slide 4: Financial Highlights
Financial Highlights (mn TL) Net revenues Q1 2019 Q2 2019 Q1 2018 Q2 2018 H1 2019 H1 2018 %change Gas 73.4 97.7 29.4 64.7 171.1 94.0 82% Power 25.1 36.4 17.8 19.9 61.5 37.7 63% Mining 25.6 25.5 12.9 18.3 51.1 31.2 64% Ports 110.8 195.5 78.6 152.4 306.3 231.0 33% Brokerage & Asset Management 13.8 10.
Slide 5: Major Developments – Q2 2019: Merger of Actus & İstanbul Asset Management
Major Developments – Q2 2019 Merger of Actus & İstanbul Asset Management • Actus Asset Management and İstanbul Asset Management have reached an agreement to merge, creating the largest domestic and independent asset management company in Turkey • Post merger, Actus’ shareholders will hold 33.25% of
Slide 6: Major Developments – Q2 2019: La Goulette Cruise Port, Tunisia
Major Developments – Q2 2019 La Goulette Cruise Port, Tunisia Overview Location • GPH's bid, submitted in a joint venture with MSC Cruises S.A., to acquire Goulette Shipping Cruise, the company that operates the cruise terminal in La Goulette, Tunisia has been successful • The concession to operate
Slide 7: Financial Highlights: Change in Revenue
Financial Highlights: Change in Revenue Revenue (mn TL) (H1 2018 vs. H1 2019) 19,9 -13,3 -6,4 23,8 77,1 75,4 636,1 459,6 Mining Real Estate H1 2018 Ports Power Gas H1 2019 Brokerage, Asset Mngmnt.&Others Global Investment Holdings reported 636.1mn TL revenues for the first half of 2019, up by a ve
Slide 8: Financial Highlights: Change in Operating EBITDA
Financial Highlights: Change in Operating EBITDA EBITDA (mn TL) (H1 2018 vs. H1 2019) 6,4 -3,1 -0,2 -2,1 -9,2 -1,5 24,2 47,9 228,0 165,6 Real Estate Holding H1 2018 Ports Power Gas Mining Other H1 2019 Brokerage Mngmnt. Stand Alone &Asset At the end of the first half of 2019, Global Investment Hol
Slide 9: Financial Highlights: Operational EBITDA by Division
Financial Highlights: Operational EBITDA by Division Operational EBITDA By Divison (in mn TL) 116,1 94,5 43,3 32,8 34,5 20,7 17,7 10,18,8 10,3 11,3 10,3 11,6 14,2 12,3 7,6 5,1 3,9 1,8 1,7 1,1 1,0 0,8 -0,4 Brokerage & Asset Mng. Real Estate BPI Italian Ports Other Cruise Power Mining Port Akdeniz CNG
Slide 10: Financial Highlights: Change in P&L
Financial Highlights: Change in P&L • GIH reported a consolidated net loss of 99.8mn TL in the first half of 2019, compared to a net loss of 51.0mn TL in the same period of last year. Despite higher revenue recognition along with EBITDA maximization, the net loss stemmed mainly from non-cash depreci
Slide 11: II – Operational Performance by Division
II – OPERATIONAL PERFORMANCE BY DIVISION
Slide 12: Port Division: Global Ports Holding Plc
Port Division: Global Ports Holding Plc Total Revenues Passenger volumes grew by a robust 26.8% yoy, with 2.1mn PAX handled Cruise EBITDA Margin* & & in the period. Commercial EBITDA Margin* Consolidated EBITDA (mn TL) o On an organic basis, passenger volumes grew 8.6% yoy, thanks to the strong vo
Slide 13: Gas Division: Naturelgaz
Gas Division: Naturelgaz Naturelgaz reported 72.0mn m3 sales volume in H1 2019, compared to 59.1mn Naturelgaz m3 in H1 2018 (excluding 6.8mn m3 pipeline gas sales). Volume increase was a Revenue, EBITDA and Volume result of the strategy to increase winter sales and all year constant customer sales
Slide 14: Power Division: Co/Tri-Generation and Biomass
Power Division: Co/Tri-Generation and Biomass Power division, which includes co/tri-generation and biomass based renewable power production, reported 61.5mn TL revenues in the first half of 2019, up by a robust 63% yoy. Revenue growth was attributable to; Additional power generation from newly o
Slide 15: Power Division: Solar
Power Division: Solar Ra Solar, having already fulfilled all obligations to commence construction of 9 MW Mardin Solar Farm, aims to finalize investment and start power generation at the beginning of Q4 2019 Barsolar, the Group’s subsidiary established in Montenegro, pursues the first solar ener
Slide 16: Mining Division: Straton
Mining Division: Straton The Company realized 262,664 tons of product sales in the first half of 2019, performing a 11% increase compared to same period in 2018 The Company’s main export markets were Spain, Italy, Egypt and various Middle Eastern countries. Export related sales volume reached 22
Slide 17: Real Estate Division: Ardus
Real Estate Division: Ardus Real Estate Division’s revenues include rent revenues and residential/commercial sales revenues The Real Estate division reported revenues of 21.4mn TL and an operating EBITDA of 10.3mn TL in H1 2019, compared to 34.7mn TL and 13.4mn TL, respectively in H1 2018 • High
Slide 18: Brokerage and Asset Management Division
Brokerage and Asset Management Division: Actus & Global Securities & Global MD Revenues of the Brokerage and Asset Management Division consists of securities brokerage commissions, interest revenues on margin lending transactions, portfolio management fees, proprietary trading revenues and advisor
Slide 19: III – Appendix
G GLOBAL INVESTMENT HOLDINGS Ili - APPENDIX
Slide 20: Balance Sheet
Balance Sheet (mn TL) 30 June 2019 31 Dec 2018 ASSETS Current Assets 1,370.8 1,104.2 Cash and Banks 413.0 496.9 Marketable Securities 5.1 4.1 Trade Receivables 510.2 272.3 Inventories 85.1 93.4 Other Receivables and Current Assets (1) 357.4 236.6 Assets classified as held for sale 0.9 0.9 Non-curren
Slide 21: Income Statement
Income Statement (mn TL) H1 2019 H1 2018 Total gross revenues 636.1 459.6 Cost of sales and services -464.9 -322.5 Gross Profit 171.2 137.1 Operating expenses -151.6 -118.8 Other operating income/(loss), net 10.0 12.4 Equity pickup asset gains/(losses) 16.6 10.9 Gross operating profit/(loss) 46.2 41
Slide 22: Debt Position - As of 30.06.2019
Debt Position - As of 30.06.2019 Interest Year of Holding standalone debt Currency Rate Maturity Amount mn TL mn USD Eurobond, net USD fixed 2022 18.7 3.2 TL bond TL floating 2020 25.0 4.3 TL bond (1) TL fixed 2019 40.0 7.0 Secured bank loans EUR floating 2021 454.9 79.1 Gross debt 538.6 93.6 Cash a
Slide 23: Major Developments – Q1 2019: Nassau Cruise Port, Bahamas
Major Developments – Q1 2019 Nassau Cruise Port, Bahamas Overview Location • GPH and its partners have been awarded the cruise port tender for a 25-year concession for the Prince George Wharf and related USA areas, at Nassau Cruise Port (NCP) • NCP is one of the most popular and leading destination
Slide 24: Major Developments – Q1 2019: St. John's Cruise Port, Antigua & Barbuda
Major Developments – Q1 2019 St. John’s Cruise Port, Antigua & Barbuda Overview Location • GPH signed a 30-year concession agreement with the Government of Antigua and Barbuda for cruise port operations in Antigua on an exclusive basis • GPH has agreed in principle to an equity partnership agreement
Slide 25: Disclaimer
Disclaimer The information contained in this document has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this docum
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