Global Yatirim Holding A.s. · BIST:GLYHO
Global Yatirim Holding A.s — Global Investment Holdings — Q1 2025 Earnings Presentation
23 slides from Global Yatirim Holding A.s's earnings presentation, May 2025
Slide 1: Financial Presentation Q1 2025
GLOBAL INVESTMENT HOLDINGS Financial Presentation Q1 2025
Slide 2: Corporate Portfolio (31.03.2025)
Corporate Portfolio (31.03.2025) Ports Power Gas Mining Finance Real Esate GFS HOLDING A.Ş. 90.4% 51.0% 60.0% 97.7% 66.6% 100% ▪ Van's first ▪ The world's largest ▪ Co/Tri generation: ▪ Turkey’s & Europe’s ▪ One of Turkey’s ▪ AUM: 124bn TL (Q1 shopping centre independent cruise 59.3 MW installed lea
Slide 3: I – Financial Review
G GLOBAL INVESTMENT HOLDINGS |— FINANCIAL REVIEW
Slide 4: Financial Highlights (without IAS29)
Financial Highlights (without IAS29) Total Consolidated Revenues (mn TL) Total Consolidated EBITDA (mn TL) 1,889 5,020 %54 %80 3,256 1,052 Q1 2024 Q1 2025 Q1 2024 Q1 2025 4
Slide 5: Financial Highlights (in USD terms)
Financial Highlights (in USD terms) Consolidated Revenues Consolidated EBITDA Consolidated Net Income (mn USD) (mn USD) (mn USD) 138.4 52.3 11.6 31% 52% 105.9 57% 34.5 7.4 Q1 2024 Q1 2025 Q1 2024 Q1 2025 Q1 2024 Q1 2025 The conversion was made using the period-end exchange rates of the respective ye
Slide 6: Financial Highlights
Financial Highlights Without IAS29 As Per IAS29 Net revenues (mn TL) Q1 2025 Q1 2024 % Change Q1 2025 Q1 2024 % Change Gas 2,102.5 1,327.9 58% 2,190.7 1,890.7 16% Power 425.1 272.6 56% 444.2 399.9 11% Mining 135.7 112.4 21% 141.4 164.9 -14% Ports 1 1,846.5 1,166.3 58% 1,921.2 1,710.8 12% Brokerage&A
Slide 7: Financial Highlights (as per IAS29) Change in Revenue & EBITDA
Financial Highlights (as per IAS29) Change in Revenue & EBITDA Revenue (mn TL)1 1Revenues exclude the impact of IFRIC 12 on Cruise Ports amounting to 805mn TL for Q1 2025 and 246mn TL for Q1 2024 EBITDA (mn TL) 7
Slide 8: Financial Highlights: Change in P&L
Financial Highlights: Change in P&L ▪ GIH reported a consolidated net profit of 439.1mn TL in Q1 2025, compared to a net profit of 330.0mn TL in Q1 2024, indicating 33% increase yoy. The bottomline incorporated TL 717.2mn of non-cash expense, of which TL 703.1mn were depreciation and amortization, T
Slide 9: Debt Structure (as per IAS29)
Debt Structure 1 (as per IAS29) Interest Year of Amount Holding standalone debt (TL m) Currency Rate Maturity TL mn US$ mn TL bond (*) TL fixed 2025 300.0 7.9 Secured bank loans TL fixed 2025 40.0 1.1 Secured bank loans EUR fixed 2025 1,192.6 31.6 Secured bank loans USD fixed 2026 1,179.0 31.2 Gross
Slide 10: Debt Structure (as per IAS29)
Debt Structure 2 (as per IAS29) GIH Consolidated Gross Debt St Lucia Project Financing Ports 2% (other) 12% GIH Consolidated Gross Debt (Excluding Maturity <15yr Ports) 23% GIH Consolidated Gross San Juan Project GPH long-term debt: Financing Debt: 1.3mia USD 15% 828.9mn USD Consolidated Gross Debt
Slide 11: Net Debt/EBITDA (as per IAS29)
Net Debt/EBITDA (as per IAS29) ➢ Net Debt/EBITDA as of Q1 2025: ➢ On a consolidated basis: 4.5x ➢ Excluding all port groups: 3.1x ➢ Excluding debt related to ports with a maturity of 15 years or more: 2.1x 11
Slide 12: III – Financial & Operational Performance by Division
III – FINANCIAL & OPERATIONAL PERFORMANCE BY DIVISION
Slide 13: Global Ports Holding Plc (GPH)
Ports Division: Global Ports Holding Plc (GPH) Total Calls Cruise Occupancy Ratio 115% 113% 107% 107% 108% 106% 104% 109% 104% 100% 550 542 1,568 95% 95% 476 1,025 106% 105% 406 313 306 Jan Feb Mar Jan-Mar Jan Feb Mar April May June July Aug Sep Oct Nov Dec 2024 2025 2024 2025 Total Pax ➢ Number of
Slide 14: Global Ports Holding Plc (GPH)
Ports Division: Global Ports Holding Plc (GPH) ▪ Following a record-breaking year, the global cruise industry entered 2025 on a strong Revenue (mn TL)1 footing despite ongoing macroeconomic uncertainties and market volatility. Robust demand throughout the first quarter confirms continued optimism fo
Slide 15: Gas Division: Naturelgaz
Gas Division: Naturelgaz Volume (mn sm3) 131 ▪ Sales volume reached 131mn Sm3 in Q1 2025, representing an increase of 23% YoY. 23% 107 ➢ Citygas sales volume increased by 38% year-on-year, reaching 108 million Sm³. The number of settlements served reached 126 by the end of Q1 2025. ▪ Sales volumes r
Slide 16: Power Generation: Distributed Energy, Biomass and Solar
Power Generation: Distributed Energy, Biomass and Solar REVENUE (mn TL) ▪ Revenues from the power generation segment increased by 11% Yoy in Q1 2025, reaching TL 444.2 million. During the same period, 444 EBITDA rose by 26% to TL 100.4 million. The improvement in revenue and profitability was primar
Slide 17: Mining Division: Straton
Mining Division: Straton Volume (tons) 58,470 56,639 -3% ▪ The Company, because of the decline in demand from the local and European markets, reported a sales volume of 56,639 tons in Q1 2025, representing a 3% decrease yoy. ▪ The Company’s main export markets continued to be Spain, Italy and Egypt.
Slide 18: Real Estate Division: Ardus
Real Estate Division: Ardus • The Real Estate division’s revenues include rent revenues and residential/commercial sales revenues. ➢ In Q1 2025 the Real Estate segment revenues and EBITDA increased by 13% and 2%, respectively. Revenues stood at TL 66.6 million and EBITDA was TL 25.5 million in Q1 20
Slide 19: Asset Management & Brokerage Division
Asset Management & Brokerage Division: Istanbul Asset Management & 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 re
Slide 20: IV – Appendix
G GLOBAL INVESTMENT HOLDINGS IV — APPENDIX
Slide 21: Balance Sheet
Balance Sheet (TL Million) 31 Mar 2025 31 Dec 2024 ASSETS Current assets 16,494.2 16,527.1 Cash and banks 8,064.4 8,731.6 Marketable securities 1,193.9 1,158.5 Trade receivables and receivables from operations in finance sector 3,924.3 3,742.0 Inventories 601.0 693.2 Other current assets (1) 2,710.6
Slide 22: Income Statement
Income Statement (TL Million) Q1 2025 Q1 2024 Total gross revenues 6,033.65 4,965.93 Cost of sales and services -3,710.09 -3,048.17 Gross profit 2,323.56 1,917.76 Operating expenses -1,111.76 -1,113.23 Other operating income/(loss), net 232.32 68.93 Equity pickup asset gains/(losses) 46.51 56.71 Gro
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
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