Astor Enerji A.s. · BIST:ASTOR
Astor Enerji A.s — Q1 2024 Earnings Presentation
39 slides from Astor Enerji A.s's earnings presentation, May 2024
Slide 1: Astor Enerji A.Ş. Investor Presentation
WHEREVER, WHENEVER ENERGY IS NEEDED ASTOR ENERJİ A.Ş. INVESTOR PRESENTATION First Quarter of 2024 Ankara – May 2024
Slide 2: Content
100TH ANNIVERSARY OF THE REPUBLIC OF TÜRKİYE OF CONTENT SINCE 1. COMPANY OVERVIEW 2. ACTIVITY OVERVIEW 3. FINANCIAL OUTCOMES
Slide 3: Company Overview
COMPANY OVERVIEW
Slide 4: Slide 4
Slide 5: Astor Past To Present
Astor Past To Present Venture into HV switching products market: 170 kV circuit breaker The mechanical factory production. Astor rents Özgüney plants, commissioned Company ventures into machinery and equipment and continues production in the HV reactor market: 2021 170 kV – 400 kV Ankara HV breaker
Slide 6: Public Offering - Stock Exchange
Public Offering - Stock Exchange INTERNATIONAL INDICES BIST Metal NATIONAL S&P INDICES FTSE Goods Global BIST (All Machinery/ BIST IPO BMI Ankara World) Industrial Index Index BIST BIST 100 FTSE Non- BIST 50 RUSSELL Bank BIST 30 (Large Cap) Liquid 10 IPO Price 12.50 TL Total IPO Size 210.000.000 Pcs
Slide 7: Overview
Overview Net Sales and the Advent of EBITDA margin (1) Million $ 40+ Years of Industry Experience 28,5 200,0 Founded in 1983, ASTOR produces power and distribution transformers as well as MV- 28 180,0 HV equipment for power generation, transmission, distribution and industrial facilities. 28 160,0 2
Slide 8: Organization Chart
Organization Chart ee copenecnarare = cena nanacen Senne Te a Temenedaana [[uencalineame] [Se an sae Teeeriemmnme] [Fane sconmenn [Sen oanine™| [oa norerancou] [>See One|] __ Sawer “moons =e wwe ered cearcaioeie wre mac oun chee rote wmeperamire ne econ wie an —_ - a caanmew ae a we a as — om chee r
Slide 9: Corporate Development Activities
Corporate Development Activities Within our company, studies are carried out within the scope of preparation for the TURQUALITY program, which is the first and only state-supported branding program, in order to become a global player with our own brand in international markets by providing manageria
Slide 10: Corporate Development Activities
Corporate Development Activities Sustainability Management Systems Establishing a sustainability Carbon footprint calculation management system and reporting Preparation of a sustainability report in compliance with the GRI (Global Reporting Initiative) standard.
Slide 11: Overview of Activities
Overview of Activities
Slide 12: Production Facilities
Production Facilities 01 02 03 05 Power Transformers Distribution Transformers MV/HV Equipment Mekanik Fabrika • 15.000 m2 indoor space • 14.000 m2 indoor space • 26.000 m2 indoor space • 10.000 m2'lik kapalı alan (Dağıtım Transformatörü) • 10.000 m2'lik kapalı alan (Güç Transformatörü) mVA 2023 Q1
Slide 13: R&D
R&D R&D investments and studies that enable high product quality, operational efficiency and new product development is important for us. Among the largest 250 industrial companies based in Türkiye, ASTOR ranks the 40th in terms of R&D expenditures(1). According to the results of the OSBÜK 2022 surv
Slide 14: Product Groups
Product Groups POWER TRANSFORMERS MV AND HV SWITCHING DISTRIBUTION TRANSFORMERS EQUIPMENT • 50-63 MVA 132/33-11,5 kV Power Transformer 40,5 kV Metal Clad • 7,5 MVA furnace transformer • 170 kV Shunt Reactor 36 kV 630 ve 1.250 A SF6 Gas Disconnector and Separator 5 Phases with Motorized Control • 132
Slide 15: Product Groups
Product Groups DAĞITIM TRANSFORMATÖRLERİ GÜÇ TRANSFORMATÖRLERİ OG ANAHTARLAMA YG ANAHTARLAMA Ürün Portföyü Kompakt/Metal Trafo Anahtarlar/Devre Kesiciler Merkezleri Yağlı Tip Kuru Tip Şönt Reaktörleri Metal Mahfazalı Metal Clad Seri Reaktörler Endüstriyel/Özel Tip Ekipman Ekipman YG Live Tank Devre
Slide 16: Customer Categories
Customer Categories DOMESTIC MARKET CUSTOMER CATEGORIES TÜRKİYE ELEKTRİK İLETİM A.Ş.(TEİAŞ) Distribution Companies Industrial Facilities, Electricity Production Branches EXPORT MARKETS TÜRKİYE ELEKTRİK ÜRETİM A.Ş.(EÜAŞ) Facilities and Other • Public institution responsible for the • Distribution com
Slide 17: Customer References
Customer References Industrial Facilities, Electricity Production Facilities and Other National Distribution Companies Türkiye Elektrik İletim A.Ş (TEİAŞ) - EÜAŞ Endüstriyel Tesisler, Elektrik Üretim Tesisleri ve Diğer Taahhüt Şirketleri Contractor Companies Yurtdışı Ulusal Dağıtım Şirketleri Power
Slide 18: Energy's Silent Voyage
Energy’s Silent Voyage ASTOR CHARGE Sector Astor Share % Number of Electric Vehicles in Türkiye AC 11.665 78 0,67 78.654 DC (Socket) 6.077 264 4,34 Total 17.742 342 1,93 Source : EPDK - January 2024 %706 %188 %237 Number of licensed companies : 176 %528 %190 Number of operational companies : 133 %19
Slide 19: Astor Charge
ASTOR CHARGE Electric Vehicle Charging Network Management License was obtained from EMRA on 23 June 2022. The installation of a 342 Slot charging stations was completed in 36 provinces. In 2022, 750 thousand $ were invested. In 2023, 10 million $ were invested. In 2024Q1, $2,8 million was invested.
Slide 20: SPP Investments
SPP Investments The SPP investment with a capacity of 14 Mwe, which we started to invest in Ankara - Bala in 2023, was completed. With the obtainment of the necessary permits, it will be commissioned. Together with the 6,6 MW Rooftop SPP, we will continue our activities in an environmentally friendl
Slide 21: 2024 Q1 Financial Outlook
2024 Q1 Financial Outlook
Slide 22: Financial Outlook
Financial Outlook Strong, stable inflation-adjusted growth in sales and profitability Million ₺ 2024Q1 – 2023Q1 P&L 2023Q1 2024Q1 Difference Amount (%) Net Sales 3.253 5.803 2.551 78% Cost of sales 2.268 3.804 1.536 68% Gross Profit 985 2.000 1.015 103% Gross Profit Margin % 30 34 4 Overall administ
Slide 23: Sales And Profitability
Sales And Profitability Milyon ₺ Million ₺ %34 Net Sales 5.803 Gross Profit Annual Growth Gross Profit Margin %78 2.608 Overseas Sales %30 Domestic Sales 3.253 2.000 944 3.195 985 2.309 Q1 2023 Ç1 Q1 2024 Ç1 Q1 2023 Ç1 Q1 2024 Ç1 %10 EBITDA %28 Net Profit EBITDA MARGIN Net Profit Margin %26 572 1.62
Slide 24: Regional Export Shares
Regional Export Shares 53,8 % Europe 30,6% Middle East & North Africa 9,9% United Kingdom 9,9% 53,9% 4,1% Issued Registered Sales 0,1% 1,5 % Africa 4,1% 0,1% Caucasia 30,6% Export to Revenue Ratio 1,5% 45% 50% 2024 Q1 Target (2025) Presenting share in export revenues. 24
Slide 25: Our Sales Target for 2024
OUR SALES TARGET FOR 2024 Sales 826 MILLION USD Domestic - Foreign Sales Sales Growth Rates Compared to the 2024-Q1 International Sales/Net Sales Previous Year : was realized as 34% in 2023 and ✓ Net Sales …: % 78 71% increased to 45% in 2024 Q1. 45% 2023-Q1 ✓ Domestic Sales …: % 38 55% 29% ✓ Foreig
Slide 26: Sales by Product Groups
Sales by Product Groups Million TL 5.803 3.029 3.195 2.608 1.845 1.608 1.145 1.184 463 609 776 315 166 0 76 76 134 181 Dağıtım Distribution Güç Power OGMV Anahtarlama Switching YG HVAnahtarlama Switching Ticariof Sales Mal Satışları Commercial TOTAL TOPLAM Transformer Transformatörü Transformer Tran
Slide 27: Net Financial Indebtedness
Net Financial Indebtedness Strong financial structure against market risks ✓ Strong capital and Equity, 2024 Q1 ✓ Sustainable profitability, Total Financial Indebtedness 974,1 Net Financial Debt (3.578,2) Total Equity 14.658,3 ✓ Solid financial assets supported by EBITDA 1.622,5 cash cycles, Net Fin
Slide 28: Financial Indebtedness
Financial Indebtedness Loans - Maturity • TL Loans decreased by 30% to 730,5 million TL 1.400 1.320 and FX Loans decreased by 19% to 7 million €. 1.200 Long-term investment loans are redeemed on 1.000 974 date of maturity. 800 600 • Cost-effective financing opportunities are being 400 evaluated to s
Slide 29: Net Working Capital
Net Working Capital Million TL The positive trend observed in Net Working Capital continues. Net Working Capital 7.895 16.000 14.726 8.000 The strong upward trend in our 7.800 current assets continues. 14.000 13.034 7.600 12.000 The proportional and absolute 7.400 increase in short-term liabilities
Slide 30: Financial Ratios
Financial Ratios Kaldıraç Oranı Kısa Vadeli Yükümlülükler/Toplam Varlıklar Uzun Vadeli Yükümlülükler/Toplam Varlıklar (Toplam Yükümlülükler/Toplam Varlıklar) 0,34 0,01 0,35 0,01 0,32 0,32 2023 2024 2024 Q1 Ç1 2023 2024 Q1 2024 Ç1 2023 2024 Q1 2024 Ç1 Özkaynaklar/Toplam Varlıklar Cari Oran Acid-Test
Slide 31: Currency Risk Management
Currency Risk Management Net Foreign Currency Position * 3.496 • Taking into account the developments in the market and economic indicators, the state of and the cash flow in 2.824 foreign currency are constantly analyzed to develop foreign exchange risk management policies. 2.277 1.641 • Our Net Ex
Slide 32: Number Of Employees
Number Of Employees We continue to grow with our qualified employees. Employee Distribution • The number of employees increased from 1,921 to 2,016 with an increase of 5% and 95 employees. White Collar 20% • Our ratio of female employees is 32% in white collars, 9% in blue collars and 14% in total.
Slide 33: Targets (2024-2025)
Targets (2024 -2025) Turnover Target : 1 Bn. USD 2024 - 826 Mio. USD - % 40 2025 - 1.013 Mio. USD - % 23 Million USD 1.013 826 Export Target : 512 Mio. USD 575 Export Share 512 501 381 400 426 48% 51% 194 33% 2023 2024 2025 Yurt Dışı Satışlar Foreign Sales Yurt İçi Satışlar Domestic Sales Hasılat Re
Slide 34: Balance Sheet and Income Statement
Balance Sheet and Income Statement
Slide 35: Assets
Assets ASTOR ENERJİ A.Ş. Past period Current Period Difference Share 31 Dec 23 31 Mar 24 Amount % % Assets Current Assets Cash and cash equivalents 1.936 1.689 (246) (13) 7,8 Financial investments 1.611 2.863 1.252 78 13,2 Trade receivables - Trade receivables from related parties 324 107 (218) (67)
Slide 36: Liabilities
Liabilities ASTOR ENERJİ A.Ş. Past Period Current Period Difference Share Liabilities 31.12.23 31.12.24 Amount % % Short term liabilities Short term borrowings 1.005 706 (299) (30) 3,3 Short term portion of long term borrowings 217 138 (80) (37) 0,6 Trade payables - Trade payables to related parties
Slide 37: Statement of Income
Statement of Income* Past Current Period Change Period ASTOR ENERJİ A.Ş. Amount % 01.01.23-31.03.23 01.01.24 -31.03.24 31.03.24 - 31.03.23 Revenue 3.253 5.803 2.550,8 78,4 Cost of sales (-) (2.268) (3.804) (1.536,2) 67,7 Gross profit 985 2.000 1.014,7 103,0 General administrative expenses (-) (61) (
Slide 38: Legal Liability
Legal Liability With the Capital Markets Board Newsletter dated 28.12.2023 and numbered 2023/81, it has been announced to the public that issuers and capital market institutions subject to the financial reporting regulations of the Capital Markets Board are to implement inflation accounting by apply
Slide 39: Investor Relations Contact Information
100TH ANNIVERSARY OF THE REPUBLIC OF TÜRKİYE INVESTOR RELATIONS CONTACT INFORMATION yatirimci.iliskileri@astoras.com.tr