Global Yatirim Holding A.s. · BIST:GLYHO
Global Yatirim Holding A.s — Global Investment Holdings — Q1 2019 Earnings Presentation
23 slides from Global Yatirim Holding A.s's earnings presentation, 2019
Slide 1: Global Investment Holdings Financial Presentation Q1 2019 Results
GLOBAL INVESTMENT HOLDINGS Financial Presentation Q1 2019 Results
Slide 2: Current Portfolio (Q1 2019)
Current Portfolio (Q1 2019) Brokerage & Asset Ports1 Power/Gas/Mining Real Estate Management Revenue: 110.8mn TL Revenue: 124.1mn TL Revenue: 11.7mn TL Revenue: 13.8mn TL EBITDA: 66.9mn TL EBITDA: 17.4mn TL EBITDA: 6.0mn TL EBITDA: 1.7mn TL Net Debt: 267.2mn USD / Avg. Maturity: 4.0yrs Net Debt: 103
Slide 3: I – Financial Review
G GLOBAL INVESTMENT HOLDINGS |— FINANCIAL REVIEW
Slide 4: Financial Highlights
Financial Highlights (TL mn) Net revenues 1Q 2019 1Q 2018 %change Gas 73.4 29.4 150% Power 25.1 17.8 41% Mining 25.6 12.9 98% Ports 110.8 78.6 41% Brokerage & Asset Management 13.8 12.5 10% Real Estate 11.7 8.2 42% Holding stand-alone 0.0 0.0 NA Others 0.0 0.1 -20% GIH total 260.4 159.5 63% Operatin
Slide 5: Major Developments: Nassau Cruise Port, Bahamas
Major Developments Nassau Cruise Port, Bahamas Overview Location • GPH and its partners have been awarded the cruise port tender for a 25-year concession for the Prince George Wharf and related USA areas, at Nassau Cruise Port (NCP) • NCP is one of the most popular and leading destination ports in t
Slide 6: Major Developments: St. John's Cruise Port, Antigua & Barbuda
Major Developments St. John’s Cruise Port, Antigua & Barbuda Overview Location • GPH signed a 30-year concession agreement with the Government of Antigua and Barbuda for cruise port operations in Antigua on an exclusive basis • A primary port-of-call for Southern Caribbean itineraries and can berth
Slide 7: Financial Highlights: Change in Revenue
Financial Highlights: Change in Revenue Revenue (mn TL) (Q1 2018 vs. Q1 2019) 3,5 1,2 12,7 7,2 44,1 32,2 260,4 159,5 Gas Ports Power Mining Real Estate Q1 2018 Q1 2019 Brokerage, Asset Mngmnt.&Others Global Investment Holdings reported 260.4mn TL revenues for the first three months of 2019, up by
Slide 8: Financial Highlights: Change in Operating EBITDA
Financial Highlights: Change in Operating EBITDA EBITDA (mn TL) (Q1 2018 vs. Q1 2019) 5,0 0,2 0,8 -1,9 -0,6 -2,1 13,0 23,6 78,7 40,7 Q1 2018 Q1 2019 Ports Power Mining Real Estate Other Gas Holding Brokerage Mngmnt. Stand Alone &Asset At the end of the first three months of 2019, Global Investment
Slide 9: Financial Highlights: Operational EBITDA by Division
Financial Highlights: Operational EBITDA by Division Operational EBITDA By Divison (in TL mn) 74,3 49,6 13,2 6,0 0,3 0,2 1,0 0,9 1,7 -1,9 Ports Power CNG Mining Brokerage & Asset Mng. Q1 2018 Q1 2019 9
Slide 10: Financial Highlights: Change in P&L
Financial Highlights: Change in P&L • GIH reported a consolidated net loss of 82.4mn TL for the quarter, compared to a net loss of 56.6mn in the same period of last year. Despite higher revenue recognition along with EBITDA maximization, the net loss stemmed mainly from non-cash depreciation and for
Slide 11: II – Operational Performance by Division
II – OPERATIONAL PERFORMANCE BY DIVISION
Slide 12: Port Division: Global Ports Holding Plc
Port Division: Global Ports Holding Plc GPH ports welcomed 510k cruise passengers in Q1 2019, indicating a GPH Total Revenues Cruise EBITDA Margin* & growth rate of 52.4% & Commercial EBITDA Margin* Consolidated EBITDA (TL) o This yoy growth was primarily driven by the first time consolidation of
Slide 13: Gas Division: Naturelgaz
Gas Division: Naturelgaz Naturelgaz Naturelgaz reported 31.3mn m3 sales volume in Q1 2019, compared to 16.9mn m3 Revenue, EBITDA and Volume in Q1 2018 (excluding 6.8mn m3 pipeline gas sales). Volume increase was a result of the strategy to increase winter sales in order to eliminate summer peaks
Slide 14: 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 25.1mn TL revenues in Q1 2019, up by a robust 41% yoy. Revenue growth was attributable to Additional power generation from newly operational Mardi
Slide 15: Power Division: Solar
Power Division: Solar Ra Solar, having already fulfilled all obligations to commence construction of 9 MW Mardin Solar Farm, aims to finalize investment and start power generation by the end of Q3 2019 Barsolar, the Group’s subsidiary established in Montenegro, pursues the first solar energy inv
Slide 16: Mining Division: Straton
Mining Division: Straton The Company realized 134,177 tons of product sales in Q1 2019, performing a strong 31% increase compared to same period in 2018 The Company’s main export markets were Spain, Italy, Egypt and various Middle Eastern countries. Export related sales volume reached 121,803 to
Slide 17: Real Estate Division: Ardus
Real Estate Division: Ardus In Q1 2019, revenues of the Real Estate Division were comprised of rent revenues and residential/commercial sales revenues Revenues increased 42% yoy, reaching 11.7mn TL in the quarter, while operating EBITDA came out at 6.0mn TL, slightly up 4% yoy • The increase is
Slide 18: Brokerage and Asset Management Division: Actus & Global Securities & Global MD
Brokerage and Asset Management Division: Actus & Global Securities & Global MD 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 19: III – Appendix
G GLOBAL INVESTMENT HOLDINGS lili - APPENDIX
Slide 20: Balance Sheet
Balance Sheet (TL Million) 31 March 2019 31 Dec 2018 ASSETS Current Assets 1,276.9 1,104.2 Cash and Banks 518.4 496.9 Marketable Securities 5.6 4.1 Trade Receivables 393.8 272.3 Inventories 91.2 93.4 Other Receivables and Current Assets (1) 268.0 236.6 Assets classified as held for sale 0.9 0.9 Non-
Slide 21: Income Statement
Income Statement (TL mn) 1Q 2019 1Q 2018 Total gross revenues 260.4 159.5 Cost of sales and services -209.8 -132.5 Gross Profit 50.6 27.0 Operating expenses -68.3 -54.7 Other operating income/(loss), net -7.6 -1.4 Equity pickup asset gains/(losses) 8.3 3.7 Gross operating profit/(loss) -17.0 -25.5 F
Slide 22: Debt Position - As of 31.03.2019
Debt Position - As of 31.03.2019 Interest Year of Holding standalone debt (TL m) Currency Rate Maturity Amount TL mn US$ mn Eurobond, net USD fixed 2022 18.3 3.2 TL bond TL floating 2020 25.0 4.4 TL bond (1) TL fixed 2019 15.0 2.7 TL bond TL floating 2019 40.0 7.1 Secured bank loans EUR floating 202
Slide 23: 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 — Q1 2019 Earnings Presentation on 6ix