Aksa Enerji Uretim A.s. · BIST:AKSEN
Aksa Enerji Uretim A.s — H1 2023 Earnings Presentation
20 slides from Aksa Enerji Uretim A.s's earnings presentation, Aug 16, 2023
Slide 1: 1H 2023 Earnings Presentation
1H 2023 Earnings Presentation 16 August 2023
Slide 2: Key Highlights – 1H23
OPERATIONAL PROCESS SUPPORTING MARGINS Key Highlights – 1H23 TL million 2Q23 2Q22 q/q Quarterly- 2Q23 vs 2Q22 Net Sales 5,214 12,676 -59% EBITDA 1,349 1,813 -26% Net Income 1,409 1,283 2% (*) Net Financial Debt 9,602 7,365 30% 1H23 1H22 y/y Cumulative 1H23 vs 1H22 Net Sales 13,508 18,568 -27% EBITDA
Slide 3: Regional Breakdown
FOREIGN OPERATIONS’ CONTRIBUTION TO EBITDA AT %59 Regional Breakdown TL million Domestic Foreign Share of Foreign 27% Quarterly- 2Q23 Net Sales 3,805 1,409 59% EBITDA 559 790 47% Profit Before Tax 1,019 792 Net Sales EBITDA Note: Foreign operations include Africa and Uzbekistan operations. Northern
Slide 4: Regional Breakdown
PERFORMANCE SUPPORTED BY FOREIGN CURRENCY-BASED PRICING FOR AFRICA, ASIA AND CYPRUS POWER PLANTS Regional Breakdown Domestic Foreign Total Quarterly- 2Q23 Sales Volume (GWh) 1,928 1,526 3,454 Sales Price (TL/MWh) 1,926 1,011 1,522 Domestic Foreign Total Cumulative- 6M23 Sales Volume (GWh) 4,566 3,07
Slide 5: Sales Channel Breakdown
STRONG RECOVERY IN DOMESTIC SALES PRICES Sales Channel Breakdown Net Sales Volume by Channel (6M23) Sales Price by Channel (TL/MWh) 3,018 2,947 5% 362 GWh 2,394 2,308 2.080 1,877 2,241 1,512 1,506 44% 3,079 GWh GWh 32% 919 1,089 1,276 GWh 18% Northern BSM (Spot Affiliated DisCo OTC&Bilateral* Foreig
Slide 6: Bolu PP Key Highlights
2Q23 SALES PRICE AVERAGE STILL ABOVE 2022 LEVELS DESPITE PRICE CAP MECHANISM Bolu PP Key Highlights Energy Source: Lignite Coal Installed Capacity: 270 MW Generation (Gross): 941GWh (6M23) CUR: 80% (6M23) Capacity Payment: 27 MM TL (6M23) Sales Composition: 9% Day Ahead Market, 88% Bilateral, 3% anc
Slide 7: Antalya PP Key Highlights
ACTIVE PRESENCE IN SECONDARY FREQUENCY CONTROL MECHANISM Antalya PP Key Highlights Energy Source: Natural Gas Installed Capacity: 900 MW Generation (Gross): 1,871 GWh (6M23) Capacity Payment: 89 MM TL (6M23) CUR: 55% (6M23) Adjusted CUR (*): 70% (6M23) • Base load power plant with high efficiency ra
Slide 8: Şanlıurfa PP Key Highlights
EFFECTIVE UTILIZATION OF ANCILIARY SERVICES Şanlıurfa PP Key Highlights Energy Source: Natural Gas Installed Capacity: 147 MW Generation (Gross): 171 GWh (6M23) CUR: 31% (6M23) Adjusted CUR (*): 53% (6M23) • Şanlıurfa Power Plant resumed its operations from Aug’21 onwards driven by favorable market
Slide 9: Northern Cyprus PP Key Highlights
USD BASED CAPACITY CHARGE SUPPORTIVE OF MARGINS Northern Cyprus PP Key Highlights Energy Source: Fuel Oil Installed Capacity: 153 MW Generation (Gross): 366 GWh (6M23) CUR: 55% (6M23) PPA Price: 3,018 TL/MWh (6M23) Contract Expiry: 2024(15+ years extention) • Northern Cyprus PP benefits from USD bas
Slide 10: Africa Operations - Key Highlights
FUEL IS PASS THROUGH IN ALL OF OUR OVERSEAS OPERATIONS Africa Operations - Key Highlights • Ghana PP benefits from USD based guaranteed capacity charge for 332 MW out of 370 MW installed capacity. PPA extended for 15 years in Oct’22. • The power plant also generates revenue from sales to the spot ma
Slide 11: Uzbekistan Operations - Key Highlights
SIGNIFICANT CONTRIBUTION FROM UZBEKISTAN Uzbekistan Operations - Key Highlights • 25 year power purchase agreement (PPA) including guaranteed capacity payment in USD terms signed with the Ministry of Energy of Uzbekistan on May’20 regarding 240 MW natural gas combined cycle (CCGT) power plant in Tas
Slide 12: Congo Project - Key Highlights
100 MW GAS POWER PLANT’S OPERATING RIGHTS OBTAINED IN JAN’21 Congo Project - Key Highlights • On 21 January 2021, Aksa Enerji Üretim A.Ş.’s 100% subsidiary Aksa Energy Company Congo has signed a concession agreement with Republic of Congo about obtaining operating rights of a 50 MW natural gas power
Slide 13: Kazakhstan Project - Key Highlights
240 MW COMBINED HEAT AND POWER PLANT TENDER WON Kazakhstan Project - Key Highlights • On 13 July 2022, Aksa Energy's Kazakhstan branch has won the tender organized by Kazakhstan Electricity and Power Market Operator regarding 240 MW Kyzykorda combined heat and power plant project • Power plant is ex
Slide 14: Kumasi Natural Gas PP- Key Highlights
350 MW NATURAL GAS POWER PLANT AGREEMENT SIGNED IN KUMASI, GHANA Kumasi Natural Gas PP- Key Highlights • Aksa Energy Company Ghana Limited, a subsidiary of Aksa Enerji Üretim A.Ş., signed a contract with the Electricity Company of Ghana on April 6, 2023 for the construction of the Kumasi combined cy
Slide 15: Renewable Energy Projects - Key Highlights
561.04 MW STORAGE-BASED WIND and SOLAR POWER PLANTS, WITH 35 MW SOLAR POWER PLANT IN GÖYNÜK, STRONG START IN RENEWABLE SECTOR Renewable Energy Projects - Key Highlights • On October 13, 2022, our preliminary licenses were granted for a 561.04 MW Storage Wind and Solar Energy Plant in our renewable e
Slide 16: Consolidated Summary Income Statement
ANNEX Consolidated Summary Income Statement 6M23 6M22 y/y MM TL Net sales 13,508 18,568 -27% Cost of sales (10,537) (15,716) -33% Gross Profit 2,971 2,852 4% General & administrative costs (263) (116) 126% Marketing expenses (5) (4) 46% Other operating income 118 105 12% Other operating expenses (43
Slide 17: Consolidated Summary Balance Sheet
ANNEX Consolidated Summary Balance Sheet 1H23 YE22 ytd MM TL Cash and cash equivalents 936 937 0% Trade receivables 10,949 9,217 19% Inventories 776 244 217% Total Current Assets 13,626 11,416 19% PP&E 26,389 21,295 24% Intangibles 457 346 32% Total Non-current Assets 27,605 21,816 27% Total Assets
Slide 18: 2023 Guidance
2023 GUIDANCE FINANCIAL INDICATORS 2022 ACTUAL COMPOSITION 2023 GUIDANCE COMPOSITION %10 %24 Net Sales %90 %76 (MM TL) 45,638 Domestic Foreign 27,714 Domestic Foreign 23% Uzbekistan %59 36% Africa %52 EBITDA %48 %41 (MM TL) 6,559 Domestic Foreign 7,788 Foreign Domestic %3 %60 %28 32% %65 CAPEX 12% (
Slide 19: Contact- Investor Relations
Contact- Investor Relations Cevdet Yalçın CFO investorrelations@aksaenerji.com.tr +90 216 681 1053 Rüzgarlıbahçe Mh. Özalp Çıkmazı No:10 Kavacık / Beykoz, Istanbul 19
Slide 20: 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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