Global Yatirim Holding A.s. · BIST:GLYHO
Global Yatirim Holding A.s — Global Investment Holdings — H1 2018 Earnings Presentation
22 slides from Global Yatirim Holding A.s's earnings presentation, 2018
Slide 1: Financial Presentation H1 2018
GLOBAL INVESTMENT HOLDINGS Financial Presentation H1 2018
Slide 2: Current Portfolio (H1 2018)
Current Portfolio (H1 2018) Brokerage & Asset Ports Power/Gas/Mining Real Estate Management Revenue: 231.0mn TL Revenue: 162.9mn TL Revenue: 34.7mn TL Revenue: 23.6mn TL EBITDA: 147.3mn TL EBITDA: 16.5mn TL EBITDA: 13.4mn TL EBITDA: 1.0mn TL Net Debt: 253.1mn USD / Avg. Maturity: 4.8 yrs Net Debt: 1
Slide 3: I – Financial Review
G GLOBAL INVESTMENT HOLDINGS |— FINANCIAL REVIEW
Slide 4: Financial Highlights
Financial Highlights (TL mn) Net revenues 1Q 2018 2Q 2018 1Q 2017 2Q 2017 1H 2018 1H 2017 %change Gas 29.4 64.7 44.4 53.3 94.0 97.7 -4% Power 17.8 19.8 6.0 7.4 37.7 13.3 182% Mining 12.9 18.3 12.5 14.4 31.2 26.9 16% Ports 78.6 152.4 67.3 113.6 231.0 180.9 28% Brokerage & Asset Management 12.5 11.1 8
Slide 5: Major Developments
Major Developments Agreement for operation of Havana Cruise Port, Cuba • Global ports Holding (GPH) has signed a 15-year management agreement with the Cuban company Aries S.A., for the PORTS operation of the cruise port in Havana, Cuba. Partnership agreement to grow ancillary revenues • GPH has
Slide 6: Financial Highlights: Change in Revenue
Financial Highlights: Change in Revenue Revenue (mn TL) (H1 2017 vs. H1 2018) 12,6 -3,7* 4,3 20,2 24,3 * İncluding spot gas sales 459,6 50,1 351,8 Gas Mining H1 2017 Power Real Estate Brokerage, H1 2018 Ports Mngmnt.& Others Asset Global Investment Holdings’ (GIH) reported 459.6mn TL revenues for
Slide 7: Financial Highlights: Change in Operating EBITDA
Financial Highlights: Change in Operating EBITDA EBITDA (mn TL) (H1 2017 vs. H1 2018) 3,4 0,8 -0,2 5,7 4,6 1,1 6,4 30,2 165,6 113,6 Other Gas Mining H1 2017 Power Brokerage Holding H1 2018 Estate Ports Mngmnt. Real Stand Alone &Asset At the end of H1 2018, GIH reported operating EBITDA of 165.6mn
Slide 8: Financial Highlights: Operational EBITDA by Division
Financial Highlights: Operational EBITDA by Division Operational EBITDA By Divison (in million TL) 94,5 77,7 32,8 25,2 17,0 10,1 9,3 10,3 10,3 4,0 5,1 2,5 1,3 0,0 1,1 0,6 0,2 1,0 Port Akdeniz Port of Bar BPI VCP-Malta Other Cruise Power CNG Mining Brokerage & Asset Mng. H1 2017 H1 2018 8
Slide 9: Financial Highlights: Change in P&L & Debt Position
Financial Highlights: Change in P&L & Debt Position • GIH reported a consolidated net loss of 51.0mn TL in H1 2018, compared to a net loss of 137.8mn in H1 2017. Despite higher revenue recognition along with EBITDA maximization, the net loss stemmed from non-cash depreciation and foreign currency tr
Slide 10: II – Operational Performance by Division
II – OPERATIONAL PERFORMANCE BY DIVISION
Slide 11: Port Division: Global Ports Holding
Port Division: Global Ports Holding GPH Total Revenues During the period cruise passenger volumes rose 6.2% compared to H1 Cruise EBITDA Margin* & 2017 & Commercial EBITDA Margin* Consolidated EBITDA (TL) o This yoy growth in passenger volumes was primarily driven by growth in the number of calls
Slide 12: Gas Division: Naturelgaz
Gas Division: Naturelgaz Naturelgaz Revenue, EBITDA and Volume Naturelgaz reported 59.1mn m3 sales volume (excluding spot gas sales) in 97.7 94.0 88.5 H1 2018, compared to 61.7mn m3 for the same period of 2017 65.9 The Gas Division revenues (excluding spot gas sales) increased by 15.4% in 1H 201
Slide 13: Power Division: Co-Gen and Biomass
Power Division: Co-Gen and Biomass Power division, which includes co-generation and recently commenced bio-mass renewable power production, reported 37.7mn TL revenues in H1 2018, almost tripling yoy thanks to: the first time consolidation of biomass operations with 17.2MW installed capacity wit
Slide 14: Power Division: Solar
Power Division: Solar Ra Solar has commenced construction of 9 MW Mardin project and aims to finalize investment and start power generation at the end of Q3 to be able to have the acceptance for YEKDEM in 2019. Furthermore, Ra Solar plans to commission additional projects in accordance with lice
Slide 15: Mining Division: Straton
Mining Division: Straton Straton realized 235,824 tons of product sales The Company exported 141,375 tons feldspar mainly to Spain, Italy, Egypt and Middle East while domestic sales volume reached 94,449 tons Straton continued sales of high-quality products with growing volumes and realized 95
Slide 16: Real Estate Division: Ardus
Real Estate Division: Ardus In H1 2018, revenues of the Real Estate Division were comprised of rent revenues and residential/commercial sale revenues. Real Estate Division revenues were more than doubled, reaching 34.7mn TL in H1 2018, while operating EBITDA surged 34%, reaching 13.4mn TL • The
Slide 17: Brokerage and Asset Management Division: Actus & Global MD & Global Securities
Brokerage and Asset Management Division: Actus & Global MD & Global Securities 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 18: III – Appendix
G GLOBAL INVESTMENT HOLDINGS lili - APPENDIX
Slide 19: Balance Sheet
Balance Sheet (TL Million) 30 June 2018 31 Dec 2017 Current Assets 1,491.2 919.8 Cash and Banks 501.9 439.9 Marketable Securities 4.0 5.5 Trade Receivables 250.4 195.3 Inventories 49.4 98.3 Other Receivables and Current Assets (1) 685.5 180.1 Assets classified as held for sale 510.4 0.9 Non-current
Slide 20: Income Statement
Income Statement (TL mn) H1 2018 H1 2017 Total gross revenues 424.9 337.3 Cost of sales and services -305.8 -259.0 Gross Profit 119.1 78.3 Operating expenses -113.5 -88.7 Other operating income/(loss), net 11.7 -64.2 Equity pickup asset gains/(losses) 10.9 3.6 Gross operating profit/(loss) 28.1 -71.
Slide 21: Debt Position
Debt Position As of 30.06.2018 Interest Year of Holding standalone debt (TL m) Currency Rate Maturity Amount TL mn US$ mn Eurobond, net USD fixed 2022 14.8 3.2 TL bond TL floating 2019 14.8 3.2 TL bond TL floating 2020 25.0 5.5 TL bond TL floating 2018 50.0 11.0 TL bond TL floating 2019 50.0 11.0 Se
Slide 22: 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 — H1 2018 Earnings Presentation on 6ix