Global Yatirim Holding A.s. · BIST:GLYHO
Global Yatirim Holding A.s — Global Investment Holdings — 9M 2019 Earnings Presentation
26 slides from Global Yatirim Holding A.s's earnings presentation, 2019
Slide 1: Global Investment Holdings Financial Presentation 9M 2019
GLOBAL INVESTMENT HOLDINGS Financial Presentation 9M 2019
Slide 2: Current Portfolio (9M 2019)
Current Portfolio (9M 2019) Brokerage & Asset Ports1 Power/Gas/Mining Real Estate Management 3 Revenue: 515.2mn TL Revenue: 495.7mn TL Revenue: 32.1mn TL Revenue: 37.2mn TL EBITDA: 343.6mn TL EBITDA: 100.3mn TL EBITDA: 15.7mn TL EBITDA: 1.1mn TL Net Debt: 278mn USD / Avg. Maturity: 2.9yrs Net Debt:
Slide 3: I – Financial Review
G GLOBAL INVESTMENT HOLDINGS |— FINANCIAL REVIEW
Slide 4: Financial Highlights
Financial Highlights (mn TL) Net revenues H1 2019 Q3 2019 H1 2018 Q3 2018 9M 2019 9M 2018 %change Gas 171.1 154.0 94.0 90.4 325.2 184.5 76% Power 61.5 36.3 37.7 21.7 97.8 59.4 65% Mining 51.1 21.7 31.2 23.4 72.7 54.6 33% Ports 306.3 208.9 231.0 200.6 515.2 431.6 19% Brokerage & Asset Management 24.6
Slide 5: Financial Highlights: Change in Revenue
Financial Highlights: Change in Revenue Revenue (mn TL) (9M 2018 vs. 9M 2019) 18.1 -13,7 -4,0 38,4 140,7 83.6 1,083.7 820.6 Ports Power Mining Real Estate Q3 2018 Gas Q3 2019 Brokerage, Asset Mngmnt.&Others Global Investment Holdings reported 1,083.7mn TL revenues for the first three quarters of 2
Slide 6: Financial Highlights: Change in Operating EBITDA
Financial Highlights: Change in Operating EBITDA EBITDA (mn TL) (9M 2018 vs. 9M 2019) 2.2 -4,4 -1,0 -5,5 -7,0 -2,7 51,8 43.0 425.8 349.4 Ports Power Gas Mining Real Estate Other Q3 2018 Q3 2019 Brokerage& Stand Alone Mngmnt. Holding Asset At the end of the first nine months of 2019, Global Investm
Slide 7: Financial Highlights: Operational EBITDA by Division
Financial Highlights: Operational EBITDA by Division Operational EBITDA By Divison (in million TL) 364.2 323.8 82.3 30.5 13.7 15.9 21.5 18.9 4.8 2.1 2.1 1.1 Ports Power Gas Mining Brokerage & Asset Pera & Van Mng. 9M 2018 9M 2019 7
Slide 8: Financial Highlights: Change in P&L
Financial Highlights: Change in P&L • GIH reported a consolidated net loss of 86.3mn TL in the first nine months of 2019, compared to a net loss of 86.2mn TL in the same period of last year. Despite higher revenue recognition along with EBITDA maximization, the net loss stemmed mainly from non-cash
Slide 9: II – Major Developments
G GLOBAL INVESTMENT HOLDINGS ll—- MAJOR DEVELOPMENTS
Slide 10: Commences cruise port operations in Nassau
Major Developments Commences cruise port operations in Nassau Overview Location • GPH has signed a 25-year concession agreement with the Government of the Bahamas for the Prince George Wharf and related areas at Nassau Cruise Port and started operating the port USA as of 9th October 2019 Nassau • Na
Slide 11: Antigua & Barbuda concession commencement
Major Developments Antigua & Barbuda concession commencement Overview Location • GPH commenced cruise port operations in Antigua, following the signing of a 30-year concession agreement with the Government of Antigua and Barbuda • A primary port-of-call for Southern Caribbean itineraries and can ber
Slide 12: GIH's first solar power plant, Ra Solar
Major Developments GIH’s first solar power plant, Ra Solar Overview Location • Global Investment Holdings partially commissioned its first solar power plant, Ra Solar, with 9MW (10.8 MWp) installed capacity in Mardin • GIH’s total installed generation capacity increased to 92.3 MW, of which 38.2 MW
Slide 13: Merger of Actus & İstanbul Asset Management
Major Developments 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 the merged
Slide 14: La Goulette Cruise Port, Tunisia
Major Developments 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 the cruise
Slide 15: III – Operational Performance by Division
III – OPERATIONAL PERFORMANCE BY DIVISION
Slide 16: Gas Division: Naturelgaz
Gas Division: Naturelgaz Naturelgaz Naturelgaz reported 127.8mn m3 sales volume in 9M 2019, compared to Revenue, EBITDA and Volume 110.5mn m3 in 9M 2018 (excluding 6.8mn m3 pipeline gas sales). Volume increase was a result of the strategy to increase winter sales and all year constant customer sal
Slide 17: 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 97.8mn TL revenues in the first nine months of 2019, up by a robust 65% yoy. Revenue growth was attributable to: Additional power generation from
Slide 18: Power Division: Solar
Power Division: Solar Global Investment Holdings partially commissioned its first solar power plant, Ra Solar, with 9MW (10.8 MWp) installed capacity in Mardin. Ra Solar will be subject to Renewable Energy Resources Support Mechanism (YEKDEM) starting from 2020, selling electricity at 13.3 dollar-
Slide 19: Mining Division: Straton
Mining Division: Straton The Company realized 370.893 tons of product sales in the first nine months of 2019 The Company’s main export markets were Spain, Italy and Egypt. Export related sales volume reached 292,565 tons while domestic sales volume realized at 78,328 tons The Mining Division r
Slide 20: 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 32.1mn TL and an operating EBITDA of 15.7mn TL in 9M 2019, compared to 45.8mn TL and 20.1mn TL, respectively in 9M 2018 • High
Slide 21: Asset Management & Brokerage Division: Actus, Global Securities & Global MD
Asset Management & Brokerage Division: Actus & Global Securities & Global MD Actus is the second largest portfolio management company which has domestic capital and without a bank/brokerage house /insurance company as a Actus Fund Performances (2019 YTD) parent Benchmark Return Annualized o Since
Slide 22: IV – Appendix
G GLOBAL INVESTMENT HOLDINGS IV — APPENDIX
Slide 23: Balance Sheet
Balance Sheet (mn TL) 30 September 2019 31 Dec 2018 ASSETS Current Assets 1,381.1 1,104.2 Cash and Banks 509.2 496.9 Marketable Securities 7.3 4.1 Trade Receivables 444.0 272.3 Inventories 86.9 93.4 Other Receivables and Current Assets (1) 333.7 236.6 Assets classified as held for sale 0.9 0.9 Non-c
Slide 24: Income Statement
Income Statement (mn TL) 9M 2019 9M 2018 Total gross revenues 1,083.7 820.6 Cost of sales and services -748.1 -541.9 Gross Profit 335.7 278.7 Operating expenses -229.4 -180.2 Other operating income/(loss), net 6.0 12.7 Equity pickup asset gains/(losses) 23.5 17.4 Gross operating profit/(loss) 135.8
Slide 25: Debt Position - As of 30.09.2019
Debt Position - As of 30.09.2019 Interest Year of Holding standalone debt Currency Rate Maturity Amount mn TL mn USD Eurobond, net USD fixed 2022 18.4 3.2 TL bond TL floating 2020 45.0 8.0 TL bond TL fixed 2020 125.0 22.1 Secured bank loans EUR floating 2021 392.1 69.3 Gross debt 580.5 102.6 Cash an
Slide 26: 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
Global Investment Holdings — 9M 2019 Earnings Presentation on 6ix