Enka Insaat Ve Sanayi A.s. · BIST:ENKAI
Enka Insaat Ve Sanayi A.s — Q1 2025 Earnings Presentation
45 slides from Enka Insaat Ve Sanayi A.s's earnings presentation, May 2025
Slide 1: ENKA Presentation 1Q 2025
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Slide 2: ENKA at a glance
▪ More than 580 engineering and construction projects in 58 countries, 68 years of with a historical contract value of over US$ 65 billion engineering & ▪ Employs circa 25,000 personnel worldwide construction experience ▪ Among the world’s top contractors since 1981 worldwide (Engineering News-Recor
Slide 3: Mission, vision and values
to design, build and deliver safe, high-quality, and cost-effective construction projects on schedule for our customers while providing quality employment and career growth opportunities for ENKA employees. to be one of the best and innovative engineering & construction companies serving globally. d
Slide 4: Sustainability approach
ENKA, which operates in different sectors such as engineering and construction, energy, real estate and trade in many different geographies, has made a commitment to serve sustainable development in all its operations. The approach which ENKA has adopted to corporate sustainability is built on an aw
Slide 5: Ethics, compliance and risk management
• Maintains an Ethics & Compliance Program to ensure open, honest and transparent communication with all stakeholders in accordance with applicable national & international laws and regulations, as well as company values and industry standards. • Adopts an integrated risk management approach coverin
Slide 6: Human rights and stakeholder engagement
• Respects human rights and assesses the human rights impacts of its investments and operations as part of its social impact assessment process. • Includes its stakeholders in the decision-making mechanisms of the company and provides transparent, effective, participatory and bidirectional communica
Slide 7: Environmental commitments and net zero
• Assesses, measures and reports its environmental impacts and develops plans and procedures to reduce them. • Commits to reach net zero emissions in its operations by 2050 and takes actions to reduce direct and indirect emissions from its projects, operations and supply chain. • As an investor and
Slide 8: Shareholder ownership
As of March 27, 2025 FREE FLOAT AND OTHERS SHAREHOLDER OWNERSHIP 8,44% TARA HOLDİNG A.Ş. 49,80% 2,29% 52,02% VİLDAN GÜLÇELİK 7,99% 5,87% SEVDA GÜLÇELİK 6,43% ENKA FOUNDATION 5,87% ALİ GÜLÇELİK 4,50% MİKADO REAL ESTATE INVESTMENT 4,37% BİLGİ GÜLÇELİK 4,31% NURDAN GÜLÇELİK 1,55% SELİM GÜLÇELİK 1,55% 3
Slide 9: Key financials
9/33 2025 1Q 2024 2023 2022 TOTAL ASSETS 10.555 10.304 9.408 8.581 TOTAL EQUITY 8.213 7.920 7.325 6.471 CASH & MARKETABLE SECURITIES 5.554 5.520 5.195 4.597 REVENUE 825 3.065 3.226 3.731 EBITDA 179 706 647 820 EBITDA MARGIN (%) 21,7 23,0 20,1 22,0 NET PROFIT 107 753 714 118 NET MARGIN (%) 13,0 24,6
Slide 10: Revenue by segment
2025 1Q 2024 2023 2022 USD % USD % USD % USD % CONSTRUCTION 549 66,5 2.254 73,5 2.042 63,3 1.933 51,8 t POWER GENERATION 147 17,8 328 10,7 701 21,7 1.298 34,8 REAL ESTATE 87 10,5 335 10,9 324 10,0 344 9,2 TRADE 70 8,5 279 9,1 277 8,6 247 6,6 ELIMINATION (28) (3,4) (131) t (4,3) (118) (3,7) (91) (2,4
Slide 11: EBITDA by segment
2025 1Q 2024 2023 2022 USD % MRG USD % MRG USD % MRG USD % MRG CONSTRUCTION 98 55 18 426 60 19 346 53 17 483 59 25 POWER GENERATION 16 9 11 10 t1 3 5 1 1 92 11 7 REAL ESTATE 54 30 62 206 29 61 220 34 68 194 24 56 TRADE 11 6 15 66 9 24 75 12 27 51 6 21 ELIMINATION 0 0 (2) t0 1 0 0 0 TOTAL 179 100 706
Slide 12: Share capital increases
12/33 PREVIOUS SHARE INCREASED DATE CAPITAL INCREASE INCREASE (%) SHARE CAPITAL 25.02.2012 2.500 300 12,00 2.800 12.06.2013 2.800 400 14,29 3.200 21.05.2014 3.200 400 12,50 3.600 06.05.2015 3.600 400 11,11 4.000 23.05.2016 4.000 200 5,00 4.200 27.04.2017 4.200 400 9,52 4.600 24.05.2018 4.600 400 8,7
Slide 13: Dividend history
13/33 GROSS YEAR DATE RATE NET RATE CASH DIVIDEND D.P.F.S.* TL USD TL USD 2023 03.01.2024 50,00% 45,00% 3.000 101,1 0,0 0,0 14.05.2024 125,00% 114,62% 7.500 233,3 129,0 4,0 TOTAL 10.500 334,4 129,0 4,0 2022 12.04.2023 36,33% 33,24% 2.180 116,2 35,6 1,9 TOTAL 2.180 116,2 35,6 1,9 2021 05.01.2022 20,0
Slide 14: Share buyback
14/33 YEAR ACTION SHARE AMOUNT EQUITY PERCENTAGE 2016 SHARE BUYBACK 8,4 Million 4,2 Billion 0,20% 2017 SHARE BUYBACK 9,2 Million 4,6 Billion 0,20% 2018 SHARE BUYBACK 30,0 Million 5,0 Billion 0,60% 2019 SHARE BUYBACK 40,0 Million 5,0 Billion 0,80% 2020 SHARE BUYBACK 37,5 Million 5,6 Billion 0,67% 202
Slide 15: Project awards
▪ Morava Corridor Motorway received the IRF Global Road Achievement ▪ Kosovo Motorway Project has been distinguished as the 2016 GRAA (Global Awards for its Environmental Stewardship in 2024. Road Achievement Awards) Winner in the Environmental Mitigation category. ▪ Misurata 650 MW Simple Cycle Pow
Slide 16: Safety awards and performance
Dradenau Combined Heat and Power Plant Samawa 750 MW CCPP – Phase I ▪ The “Merit” award at the International Safety Awards by ▪ 8,200,000 Person-Hours without LTI the British Safety Council in 2025 ▪ Achieved Distinction in International Safety Awards by British Safety Council Misurata 650 MW Simple
Slide 17: Engineering and construction services
ENKA provides full range of design and engineering, procurement, in-house fabrication, modularization construction, commissioning and start-up, operation and maintenance, and project management services (EPCC, EPC, PC or C only) in the following sectors: 17/44
Slide 18: Backlog by country
COUNTRY BACKLOG % Special Projects 1.378 20,7% United Kingdom 1.079 16,2% Libya 931 14,0% North Macedonia 688 10,3% Serbia 375 5,7% Germany 345 5,2% Saudi Arabia 309 4,7% USA 271 4,1% Türkiye 242 3,6% Others* 1.033 15,5% TOTAL 6.651 100,0% All figures given above are in Million US Dollars * The grou
Slide 19: Benghazi North power plant, Libya
PROJECT DESCRIPTION The contract had been signed between General Electricity Company of Libya (GECOL) and ENKA on May 27th, 2024. The project entails the construction of a simple cycle power plant, with a gross output capacity of up to 1320 MW in North Benghazi. The project will be constructed by EN
Slide 20: TÜPRAŞ propylene splitter projects
PROJECT DESCRIPTION ENKA signed contracts with TÜPRAŞ (Türkiye Petrol Rafinerileri A.Ş.) for the Propylene Splitter Unit Project for İzmit Refinery and İzmir Refinery on 24.04.2024. ENKA will carry out the detailed engineering, procurement, construction, commissioning and start-up and additions/modi
Slide 21: Tengiz Third Generation Project
PROJECT DESCRIPTION Senimdi Kurylys LLP, an equal joint venture between ENKA and Bechtel, was awarded the contract for the mechanical, electrical and instrumentation installation works for the Third Generation Project (3GP). The 3GP is part of TCO’s Future Growth Project (FGP) which is an integrated
Slide 22: Stanlow low carbon hydrogen plant
PROJECT DESCRIPTION On January 15th, 2025, ENKA UK Construction Ltd., a subsidiary of ENKA İnşaat ve Sanayi A.Ş., and Essar Energy Transition (EET) Hydrogen, signed a contract for the UK’s leading large-scale Low Carbon Hydrogen Production Plant (HPP1) at the Stanlow Refinery in the Ellesmere Port A
Slide 23: Morava Corridor Motorway, Serbia
PROJECT DESCRIPTION ENKA and its joint venture partner Bechtel have been selected by the Government of 2024 IRF GLOBAL ROAD the Republic of Serbia to design and build the 112 km Morava Corridor Motorway ACHIEVEMENT AWARD Project which will connect central Serbia with Pan-European Corridors 10 and 11
Slide 24: Corridor 8 & 10d Motorway, North Macedonia
PROJECT DESCRIPTION ENKA, with its joint-venture partner Bechtel, will build 109 km Corridor 8 & 10d Motorway Project in North Macedonia and will complete it within 5 years. Corridor 8 (Tetovo – Gostivar - Bukojcani and Trebenista – Struga - Kjafasan Motorway section) is a key component of Pan-Europ
Slide 25: Shotton paper mill, Wales
PROJECT DESCRIPTION ENKA signed a contract for the construction of a Paper Mill Factory on the Dee Estuary in Flintshire, North Wales for Shotton Mill Limited owned by Modern Karton/EREN Holding, one of the biggest manufacturers of paper, cardboard and corrugated packaging products in the sector. Th
Slide 26: Hinkley Point C piping
PROJECT DESCRIPTION ENKA UK Construction Ltd., a subsidiary of ENKA İnşaat ve Sanayi A.Ş., is contracted by one of the main contractors on the HPC Site to prefabricate, install and erect all piping systems of the power island at Hinkley Point C Nuclear Power Station. Work includes installation and e
Slide 27: Dradenau CHP plant, Hamburg
PROJECT DESCRIPTION On 15 September 2021, The ARGE Uniper-ENKA Dradenau (UEJV) partnership signed a contract with Hamburger Energiewerke GmbH (former Wärme Hamburg GmbH) for the turnkey construction of approximately 180 MW electric and district heating capacity of 260 MW Combined Heat and Power Plan
Slide 28: Stade LNG terminal
PROJECT DESCRIPTION ENKA’s wholly owned subsidiary Entrade GmbH, in a consortium formed together with Técnicas Reunidas and FCC Industrial, has signed an EPC (Engineering, Procurement and Construction) contract with the Hanseatic Energy Hub company for the Liquefied Natural Gas (LNG) Regasification
Slide 29: Oyu Tolgoi concentrator
PROJECT DESCRIPTION ENKA’s involvement in the project commenced with the Early Tenderer Involvement phase and subsequently, ENKA was awarded the contract for SMPE&I construction works following a competitive tender process. Oyu Tolgoi is a copper-gold mine situated in the Umnugovi aimag of Mongolia,
Slide 30: ÇİMTAŞ
Visit website www.cimtas.com ÇİMTAŞ, a subsidiary of ENKA, is a leading provider of integrated engineering, procurement, welded fabrication, assembly and installation solutions for top-tier global customers. ÇİMTAŞ was incorporated in 1973 in Türkiye as a local steel fabricator and now an EPMFMI (En
Slide 31: ÇİMTAŞ services
ÇİMTAŞ provides the following services for Power, Oil & Gas, Chemicals, Offshore, Mining & Metals Industries: ▪ Engineering (Structural, Pressure Vessels, Piping, Plant Engineering) ▪ Manufacturing (LSAW Pipes, Fittings, Flanges & Branch Connections) and Fabrication (7 shops: 6 in Türkiye and 1 in C
Slide 32: KASKTAŞ
Visit website www.kasktas.com.tr KASKTAŞ, wholly owned subsidiary of ENKA, was established in 1957 as the piling group of ENKA. Having a vast and modern machinery and equipment fleet, KASKTAŞ has the ability to fulfill diverse requirements in the field of geotechnical engineering both in Türkiye and
Slide 33: Real estate assets in Russia
ENKA designed, developed and now operates 1.35 million m² of real estate assets in Russian Federation, including A-class offices occupied by dozens of international tenants, shopping malls, a 5 star luxury hotel. TYPE NET LEASABLE AREA OCCUPANCY RATE (USD) CLASS A OFFICE AREA 393.000 m2 98% 550 RETA
Slide 34: Real estate asset map
RETAIL ( 368.000 m2 ) 1 Leningradsky 2 Kuntsevo Plaza 3 Maryina Roshcha 1 4 Kashirskaya 5 Sevastopolsky 3 6 Vernadskogo 12 15 16 9 7 Belyaevo 2 13-14 4 8 Podolsk 6 5 9 Orekhovo-Zuyevo 7 10 Sergiev Posad 11 Pionerski (St. Petersburg) OFFICE ( 389.000 m2 ) 12 Naberezhnaya Tower 13 Paveletskaya 14 Mosk
Slide 35: Rental revenue and EBITDA
RENTAL EBITDA YEAR REVENUE EBITDA MARGIN 2025 1Q 87 54 62,1% 2024 335 206 61,5% 2023 324 220 67,9% 2022 344 194 56,4% 2021 304 194 63,8% 2020 289 187 64,7% 2019 346 213 61,6% 2018 329 204 62,0% All figures given above are in Million US Dollars. 35/44
Slide 36: Real estate tenants
REAL ESTATE - TENANTS €2 Alibaba.com —_ Lilly HAL= ON rt = Dofer > MITSUIs.CO.,LTD. Ney 63 Muchan _@ D ween =8— IATA 2% UBS [seamtess J ce novo %, qup at MAIRE BERLIN-CHEMIE MENARINI GROUP
Slide 37: ENKA Power plants
Visit website www.enkapower.com ENKA is the leading electricity generator (IPP) with its power plants located in Gebze, Adapazarı and İzmir in Türkiye. The gas fired combined cycle plants have a total installed capacity of 4,000 MW. ENKA’s power plants are among Türkiye’s earliest and largest privat
Slide 38: New investment projects
New Investment Projects ENKA Kırklareli Combined Cycle Power Plant Kameno Solar Photovoltaic Power Plant The new investment project is fully owned by ENKA. ENKA has taken another step towards the renewable energy market by acquiring 100% of the It will be financed by its own sources. The power plant
Slide 39: Türkiye electricity consumption by source
2023 2024 CHANGE Million Kwh % Million Kwh % Kwh COAL 118,173 38.2 122,171 38.1 HYDRO 63,663 20.6 74,572 23.3 NATURAL GAS 66,377 21.5 63,407 19.8 WIND 33,719 10.9 36,460 11.4 GEOTHERMAL 10,114 3.3 10,233 3.2 OTHERS 13,343 4.3 14,565 4.5 INTERNATIONAL [NET] 3,920 1.3 (935) (0.3) TOTAL CONSUMPTION 309
Slide 40: Türkiye electricity consumption trend
BILLON KWH CHANGE 320 12% 10% 280 8% 240 6% 200 4% 2% 160 0% 120 -2% 161 175 190 198 194 210 230 242 246 255 264 275 290 292 290 291 315 311 309 320 80 -4% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 40/44
Slide 41: ENKA Pazarlama
Visit website www.enka.com.tr ENKA Pazarlama is a leader in the supply of heavy construction and lifting equipment and machinery and industrial machinery. It serves the whole of Türkiye through its five regional branches, one sales office, one liaison office and 65 dealers. ENKA Pazarlama owns and o
Slide 42: ENTAŞ
Established in 1976 and became a member of the International Air Transport Association in 1982, ENTAŞ, a fully owned subsidiary of ENKA, provides services in the field of travel and tourism, including v domestic and international tour operations, flight ticket sales, congress and event organizations
Slide 43: ENKA Systems
Visit website www.enkasystems.com ENKA Systems, headquartered in Istanbul, Türkiye was incorporated in 2017 as an ENKA subsidiary to provide trend-setting software tools to meet the needs of companies engaged in very large scale and global operations, increasing their profitability and preventing lo
Slide 44: ENKA Foundation
Visit website www.enkavakfi.org The ENKA Foundation was founded in 1983 with the idea of preserving the strong tradition of foundations in Turkish culture and sustaining the concepts that are the building blocks of civilization. The natural mission of the foundation is to educate individuals with sc
Slide 45: Contact details
Balmumcu Mah., Zincirlikuyu Yolu No: 10, 34349 Beşiktaş / İstanbul Tel: +90 (212) 376 10 00 (pbx) Fax: +90 (212) 376 19 80 E-mail: enka@enka.com Web: https://www.enka.com 45/44
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