Aksa Enerji Uretim A.s. · BIST:AKSEN
Aksa Enerji Uretim A.s — Investor Presentation (July 2025)
35 slides from Aksa Enerji Uretim A.s's investor presentation, July 2025
Slide 1: Investor Presentation July 2025
1 Investor Presentation July 2025
Slide 2: Key Investment Highlights
Key Investment Highlights AKSA ENERGY: AN OUTLIER IN TURKISH ENERGY SECTOR Deep Expertise in Energy Sector Diversified Portfolio Guaranteed Long-term Hard Currency Based Revenues Sustainable Growth Resilient Business Model 2
Slide 3: Shareholder Structure
Shareholder Structure AKSA ENERGY: LISTED IN BIST SUSTAINABILITY, CORPORATE GOVERNANCE, DIVIDEND, PARTICIPATION, MSCI & FTSE INDICES AKSA ENERGY SHAREHOLDING STRUCTURE KAZANCI HOLDING SHAREHOLDING STRUCTURE Tülay Kazancı Mehmet Kazancı 4,8% Free Float 5,9% 20% Ali Metin Kazancı 29,0% Kazancı Holding
Slide 4: Power Generation by Fuel Type
Power Generation by Fuel Type TURKISH ENERGY SECTOR – 53% OF ELECTRICITY GENERATED FROM NON-RENEWABLE SOURCES 34% 32% 28% 22% 18% 14% 11% 11% 11% 8% 3% 3% 3% 3% Lignite & Coal Hydro Natural Gas Wind Solar Geothermal Other 6M2024 6M2025 Source: TEİAŞ 4
Slide 5: Price Evolution in Turkish Market
Price Evolution in Turkish Market Price SPOT PRICES IN Evolution in Turkish TURKIYE INCREASED Market BY 19% Y/Y IN 1H25 Average Spot Electricity Prices (TL/MWh) 3.000 2.520 2.390 2.371 2.250 2.415 2.030 1.969 1.500 750 0 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 Average Spot Energy Prices • In 1H25, average spo
Slide 6: Monthly Change in Power Consumption
Monthly Change in Power Consumption TURKISH ENERGY SECTOR – 3% AVERAGE GROWTH IN FIRST SIX MONTHS OF 2025 11% 5% 4% 4% 0,5% -4% January February March April May June 2024 vs 2025 Source: TEİAŞ 6
Slide 7: Financial & Operational Highlights 1Q2025
FINANCIAL & OPERATIONAL HIGHLIGHTS 1Q2025
Slide 8: Key Highlights – 1Q25
Key Highlights – 1Q25 STRONG IMPROVEMENT IN EBITDA MAINLY DRIVEN BY CONTRIBUTION FROM TALLIMARJON PP TL million 1Q25 1Q24 y/y 1Q25 vs 1Q24 Net Sales 9,630 8,095 19% EBITDA 2,789 1,966 42% Net Income 399 1,003 -60% (1) Net Financial Debt 30,743 29,840 3% 1Q25 1Q24 y/y KPIs-1Q25 vs 1Q24 Gross Margin 2
Slide 9: Regional Breakdown
Regional Breakdown FOREIGN OPERATIONS’ CONTRIBUTION TO EBITDA AT 75% TL million Domestic Foreign Share of Foreign Cumulative- 1Q25 27% Net Sales 7,021 2,608 73% 25% EBITDA 686 2,103 75% Profit Before Tax -662 1,818 TL million Domestic Foreign Share of Foreign Cumulative- 1Q24 33% Net Sales 5,419 2,6
Slide 10: Shares of Regions in EBITDA
Shares of Regions in EBITDA FOREIGN OPERATIONS’ CONTRIBUTION ALMOST STABLE AT 75% Shares of Regions in EBITDA 80% 76% 75% 70% 60% 50% 40% 30% 25% 24% 20% 10% 0% Domestic Foreign 1Q24 1Q25 1Q24 1Q25 Domestic Foreign • Foreign operations’ contribution almost stable at 75% • Contribution of domestic op
Slide 11: Domestic Operations
DOMESTIC OPERATIONS Antalya 900 MW Combined Cycle Natural Gas Power Plant
Slide 12: Domestic Operations at a Glance
Domestic Operations at a Glance MAJORITY OF DOMESTIC INSTALLED CAPACITY BASED ON NATURAL GAS Bolu-Göynük DOMESTIC 270 MW INSTALLED CAPACITY 1,358 MW Natural Gas (1 plant) 900 MW Fuel-Oil (1 plant) 188 MW Lignite (1 plant) 270 MW Antalya 900 MW Northern Cyprus 188 MW 12
Slide 13: Antalya PP - Key Highlights
Antalya PP - Key Highlights ANTALYA- 900 MW NATURAL GAS CCGT Ali Metin Kazancı SIGNIFICANT Antalya RECOVERY Power Plant – Key Highlights IN GENERATION Antalya Power Plant Location Technical Overview < ◼ Energy Source: Natural Gas Plant Overview ◼ Installed Capacity: 900 MW CCGT ◼ CoD: 2008 ◼ 2 Sieme
Slide 14: Bolu PP - Key Highlights
Bolu PP - Key Highlights BOLU GÖYNÜK- 270 MW LOCAL LIGNITE POWER PLANT Bolu Göynük SUPPORT FROM Power CAPACITYPlant – Key Highlights PAYMENTS Bolu Göynük Power Plant Location Technical Overview ◼ Energy Source: Local Lignite Plant Overview ◼ Installed Capacity: 270 MW (2x 135 MW) ◼ CoD: 2015 ◼ 2 uni
Slide 15: Northern Cyprus - PP Key Highlights
Northern Cyprus - PP Key Highlights NORTHERN CYPRUS 188 MW COMBINED CYCLE HFO POWER PLANT USD BASED GUARANTEED ENERGY SALES Northern Cyprus Power Plant Location Technical Overview ◼ Energy Source: Liquid Fuel ◼ Installed Capacity: 188 MW Combined Cycle Plant Overview ◼ CoD: 2003 ◼ Contract Expiry: 2
Slide 16: Renewable Energy Projects - Key Highlights
Renewable Energy Projects - Key Highlights 891.41 MW STORAGE-BASED WIND and SOLAR POWER PLANTS Key Highlights Power Plant Locations • On December 4, 2023, our preliminary licenses were granted for a total of 831.41 MW Storage Wind and Solar Energy Plants by EMRA. • With the acquisition of pre-licens
Slide 17: Renewable Energy Projects - Key Highlights
Renewable Energy Projects - Key Highlights 891.41 MW STORAGE-BASED WIND and SOLAR POWER PLANTS Key Highlights Power Plant Commissioning Dates • As of March 25, 2025, the application for the Electricity Generation Location Project Name Technology Capacity (MW) EIA Process Expected COD License for the
Slide 18: Foreign Operations
FOREIGN OPERATIONS Bukhara 298 MW Combined Cycle Natural Gas Power Plant
Slide 19: Contribution to the Energy Transition
Contribution to the Energy Transition ACTIVE IN CENTRAL ASIA SINCE 2022… ASIA INSTALLED CAPACITY KAZAKHSTAN 1,186 MW 240 MW UNDER CONSTRUCTION UZBEKISTAN Tashkent A CAPACITY 240 MW Tashkent B 252 MW 274 MW Bukhara 298 MW Tallimarjon (*) 396 MW (*) Simple cycle COD (equivalent of 396 MW installed cap
Slide 20: Country Snapshots – Central Asia
Country Snapshots – Central Asia ATTRACTIVE REGION WITH STRONG GROWTH POTENTIAL… Uzbekistan Kazakhstan Population 36.8 mn Population 20.1 mn Area 447,400 km2 Area 2,724,900 km2 GDP $ 90.8 bn GDP $ 261.4 bn GDP per capita $ 2,494 GDP per capita $ 13,279 Installed Capacity 17,659 MW Installed Capacity
Slide 21: Tashkent, Bukhara & Tallimarjon PP – Key Highlights
Tashkent, Bukhara & Tallimarjon PP – Key Highlights OUR TOTAL INSTALLED CAPACITY WILL INCREASE TO 1,220 MW IN UZBEKISTAN WITH Tashkent COMPLETIONA,OF B and Bukhara COMBINED CYCLEPower Plants – Key Highlights PP IN TALLIMARJON Uzbekistan Power Plants’ Locations Technical Overview ◼ Energy Source: Nat
Slide 22: Central Asia Projects
2 2 Central Asia Projects STRENGTHENING POSITION IN CENTRAL ASIA WITH FIRST INVESTMENT IN KAZAKHSTAN KAZAKHSTAN ◼ Project Name: Kyzylorda (Natural Gas Combined Heat and Power Plant) ◼ Installed Capacity : 240 MW CCGT (CHP) ◼ 2 GE 6FA GTG + Skoda Doosan ST ◼ Contract Terms: 15-year capacity payments
Slide 23: Attractive Region with Strong Growth Potential
Attractive Region with Strong Growth Potential ACTIVE IN AFRICA SINCE 2017… AFRICA INSTALLED CAPACITY(1) 430 MW (2) UNDER CONSTRUCTION CAPACITY 605 MW (1) Excludes Congo and Madagascar (2) As of 11 September 2024, 66 MW Madagascar power plant has been sold. However, Aksa Energy will continue to oper
Slide 24: Country Snapshots – Africa
Country Snapshots – Africa CONTRIBUTION TO ENERGY ACCESS Ghana Madagascar Mali Senegal Population 33.4 mn Population 29.6 mn Population 22.6 mn Population 17.32 mn Area 238,537 km2 Area 592,000 km2 Area 1,240,190 km2 Area 196,161 km2 GDP $ 73.8 bn GDP $ 15.3 bn GDP $ 18.8 bn GDP $ 27.68 bn GDP per c
Slide 25: Africa Operations – Key Highlights
Africa Operations – Key Highlights LONG TERM GUARANTEED ENERGY SALES IN HARD CURRENCY & Mali FUEL Power Plant – Key IS PASS THROUGH Highlights IN ALL OF OUR OVERSEAS OPERATIONS Africa Power Plants’ Locations Technical Overview ◼ Energy Source: Natural Gas + Liquid Fuel ◼ Installed Capacity: 370 MW P
Slide 26: Africa Projects – Pipeline
2 6 Africa Projects Africa Projects – Pipeline WE CONTINUE TO GROW IN AFRICA WITH GHANA AND SENEGAL INVESTMENTS GHANA ◼ Project Name: Kumasi (Natural Gas Combined Cycle Power Plant) ◼ Installed Capacity: 350 MW ◼ Siemens gas and steam turbines (Phase I) ◼ Contract Terms: 20-year PPA, guaranteed elec
Slide 27: Sustainability
SUSTAINABILITY
Slide 28: Sustainability at Aksa Energy: Sustainable Business Model
SUSTAINABILITY AT AKSA ENERGY SUSTAINABLE BUSINESS MODEL • The Company acts with the Responsibility of a Sustainable Business Model for a safe future. • The Company' sustainability approach is based on three pillars - Environmental Sustainability, Employees and Social Responsibility. • As a signator
Slide 29: We Are Committed to Sustainable Development Goals
SUSTAINABILITY AT AKSA ENERGY WE ARE COMMITTED TO SUSTAINABLE DEVELOPMENT GOALS! • Aksa Energy prioritizes identifying and managing the significant environmental impacts of the industry, respecting human and employee rights, and contributing to social development in the regions where it operates. •
Slide 30: Annex
ANNEX
Slide 31: Consolidated Summary Income Statement
Annex CONSOLIDATED SUMMARY INCOME STATEMENT 1Q25 1Q24 y/y MM TL Net sales 9,630 8,095 19% Cost of sales (7,344) (6,722) 9% Gross Profit 2,285 1,373 66% General & administrative costs (345) (387) -11% Marketing expenses (12) (17) -31% Other operating income 121 405 -70% Other operating expenses (37)
Slide 32: Consolidated Summary Balance Sheet
Annex CONSOLIDATED SUMMARY BALANCE SHEET 1Q25 YE24 ytd MM TL Cash and cash equivalents 2,958 1,160 155% Trade receivables 9,388 10,983 -15% Inventories 1,420 1,517 -6% Total Current Assets 16,047 16,305 -2% PP&E 69,762 68,009 3% Intangibles 2,586 1,783 45% Total Non-current Assets 77,274 74,796 3% T
Slide 33: 2025 Guidance
Annex 2025 2024GUIDANCE BEKLENTİLERİ FINANCIAL 2024 ACTUAL 2025 GUIDANCE COMPOSITION COMPOSITION INDICATOR (MM TL) (MM TL) 24% 40% 60% 76% NET SALES 31,639 Domestic Foreign 36,850 Domestic Foregin 27% 14% 73% 86% EBITDA 7,560 Domestic Foreign 11,005 Domestic Foreign 16% 26% 21% 43% 63% 31% CAPEX 18,
Slide 34: Investor Relations Contact Information
Contact Information INVESTOR RELATIONS Pınar Saatcıoğlu Investor Relations and Sustainability Director investorrelations@aksaenerji.com.tr +90 216 681 1053 Rüzgarlıbahçe Mh . Özalp Çıkmazı No:10 Kavacık / Beykoz Istanbul Aksa Enerji Üretim A.Ş. https://www.aksaenerji.com.tr/yatirimci-iliskileri 34
Slide 35: 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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