Enka Insaat Ve Sanayi A.s. · BIST:ENKAI
Enka Insaat Ve Sanayi A.s — Q3 2020 Earnings Presentation
43 slides from Enka Insaat Ve Sanayi A.s's earnings presentation, 2020
Slide 1: Engineering for a Better Future
ENGINEERING FOR A BETTER FUTURE
Slide 2: Introduction
Introduction EXPERIENCE RELIABILITY EVALUATION 63 Years of construction 538 projects in 46 countries have been Traded publicly on experience worldwide completed or under construction with Borsa Istanbul (BIST) historical value of USD 50 Billion with a market cap of USD 5,1 Billion (@ 30.09.2020) SYN
Slide 3: Milestones [1957-1976]
Milestones [1957-1976] Founded Focused on The Partnership as a limited liability design, engineering and was transformed into a partnership as Şarık Tara & construction activities of joint stock company as Sadi Gülçelik Enka Limited industrial plants, ENKA İnşaat ve Sanayi A.Ş. Şirketi buildings and
Slide 4: Milestones [1977-1996]
Milestones [1977-1996] Foundation First Natural Gas Outstanding ENKA Sports, education combined cycle power achievements with fast- and culture foundation and plant in Turkey 600 MW track projects in Libya, Sadi Gülçelik sports center Trakya CCCP Russia and Former establishments Soviet Union Countri
Slide 5: Milestones [1997-2020]
Milestones [1997-2020] Retail Business Power Generation Certified Development of shopping Power Generation by BSI for ISO 9001 Quality malls and retail business in as Independent Power Management System & ISO Moscow, Russia Producer (IPP) 14001 Environmental Management System & OHSAS 18001 Occupatio
Slide 6: Milestones [1997-2020]
Milestones [1997-2020] Gas Fired CCPP EPC in Russia Airport 790 MW Rijnmond Natural ENKA as a main Completion of Gas Fired CCPP has been contractor has been Sheremetyevo Airport completed in 22 months by awarded 400 MW Yajva Terminal 3 in Moscow, the ENKA Bechtel Joint State District Power Plant Rus
Slide 7: Milestones [1997-2020]
Milestones [1997-2020] Iraq Re-Entry Northern Iraq Oil & Gas ENKA’s re-entry into Iraq oil First contract awarded in Al-Najybia 500 MW gas & gas market by winning Northern Iraq after two decades turbine power plant and the contract for Rumaila Crude Oil Pumping mechanical, electrical and Erbil Combi
Slide 8: Milestones [1997-2020]
Milestones [1997-2020] Caucasus Pipeline Kosovo Power Plants A contract related to South After successfully completing EPC contracts awarded; Caucasus Pipeline Expansion the Route 7 Motorway Project, Simple Cycle Power Plant (SCPX) has been awarded to the new phase; Route 6 has Project at Bazyan, Be
Slide 9: Mission, Vision and Values
Mission, Vision and Values Mission Vision Values Our Mission Our Vision Our Values to design, build and deliver safe, high- to be one of the best and define how we do work at ENKA. We quality and cost-effective construction innovative engineering & will not undertake or execute a projects on schedul
Slide 10: Shareholder Structure
Shareholder Structure 2,27% ENKA Treasury Stock 5,87% ENKA Foundation 9,32% Other 31,43% 51,11% Gülçelik Family Tara Family As of 30 September 2020 Address: 10 of 42 Balmumcu Mah., Zincirlikuyu Yolu No: 10 Phone : +90 (212) 376 10 00 (pbx) Fax : +90 (212) 272 88 69 Besiktas, Istanbul, Turkey 34349 W
Slide 11: Consolidated Financial Highlights
Consolidated Financial Highlights 3Q 2020 2019 2018 2017 2016 TOTAL ASSETS 7.999 8.318 7.796 8.031 7.587 TOTAL EQUITY 6.298 6.568 6.103 6.207 5.667 CASH & MARKETABLE SECURITIES 4.118 3.960 3.252 3.479 3.194 REVENUE 1.242 1.893 2.881 2.900 3.506 EBITDA 295 436 757 745 732 EBITDA MARGIN 23,7% 23,1% 26
Slide 12: Revenues by Business Lines
Revenues by Business Lines 3Q 2020 2019 2018 2017 2016 USD % USD % USD % USD % USD % CONSTRUCTION 955 76,9 1.147 60,6 1.011 35,1 1.195 41,2 1.453 41,5 POWER GENERATION 0 0,0 324 17,1 1.474 51,2 1.337 46,1 1.582 45,1 REAL ESTATE 217 17,5 346 18,3 329 11,4 319 11,0 319 9,1 TRADE 94 7,6 119 6,3 165 5,7
Slide 13: EBITDA by Business Lines
EBITDA by Business Lines 3Q 2020 2019 2018 2017 USD % MRG USD % MRG USD % MRG USD % MRG CONSTRUCTION 179 61 19 142 33 12 209 28 21 212 28 18 POWER GENERATION (28) (9) - 68 16 21 326 43 22 312 42 23 REAL ESTATE 136 46 63 213 49 62 204 27 62 193 26 61 TRADE 7 2 8 10 2 8 17 2 10 28 4 12 ELIMINATION 1 0
Slide 14: Share Capital Increases (Shares Dividend-Bonus Issue)
Share Capital Increases (Shares Dividend-Bonus Issue) PREVIOUS SHARE INCREASED SHARE DATE INCREASE INCREASE (%) CAPITAL CAPITAL 25.05.2012 2.500 300 12,00 2.800 12.06.2013 2.800 400 14,29 3.200 21.05.2014 3.200 400 12,50 3.600 06.05.2015 3.600 400 11,11 4.000 23.05.2016 4.000 200 5,00 4.200 27.04.20
Slide 15: Dividend Payments
Dividend Payments CASH DIVIDEND D.P.F.S.* YEAR DATE GROSS RATE NET RATE TL USD TL USD 28.09.2016 3,33% 2,83% 140 47,1 0 0 2016 14.12.2016 3,33% 2,83% 140 40,3 0 0 19.04.2017 12,00% 10,81% 504 136,8 29,4 7,97 2016 TOTAL 784 224,2 29,4 7,97 2016 27.09.2017 3,59% 3,05% 165 46,2 0 0 2017 13.12.2017 4,00
Slide 16: Share Buy Back
Share Buy Back Share Amount to be Decision Taken Number of Total Shares Percentage Bought July 2016 8,4 million 4,2 billion 0,20% July 2017 4,6 million 4,6 billion 0,10% August 2017 4,6 million 4,6 billion 0,10% January 2018 4,6 million 4,6 billion 0,10% May 2018 4,6 million 4,6 billion 0,10% June 2
Slide 17: Work Force
Work Force ENKA TURKEY Technical : 378 Administrative : 135 ENKA ABROAD Workers : 77 ENKA Abroad Total : 590 Technical : 1.616 Administrative : 1.337 Workers : 11.493 Total : 14.446 SUBSIDIARIES TURKEY Technical : 798 Administrative : 424 SUBSIDIARIES Workers : 1.841 Total : 3.063 ABROAD Technical :
Slide 18: Awards & Achievements
Awards & Achievements YAJVA ADMIRED COMPANY ENKA’s 411 MW CCPP Yajva State "Most Admired Construction District Power Plant EPC Project has Company of Turkey awards" for the been awarded “the Best Project in the years 2005 - 2012 by CAPITAL, a Power/Industrial Category” in 2013 business and economics
Slide 19: Awards & Achievements
Awards & Achievements RISK MANAGEMENT DEVELOPMENT Turkish Power Company ENKA POWER Kuntsevo Plaza, has been awarded in has world class risk management three categories of the prestigious article which praises ENKA's awards in 2016: Best Retail commitments and achievements in Architecture Russia, Bes
Slide 20: Address: of
Address: 20 of 42 Balmumcu Mah., Zincirlikuyu Yolu No: 10 Phone : +90 (212) 376 10 00 (pbx) Fax : +90 (212) 272 88 69 Besiktas, Istanbul, Turkey 34349 Web: www.enka.com E-mail: corporate.finance@enka.com
Slide 21: Engineering & Construction
Engineering & Construction The fields of Engineering & ENKA’s global solutions span Construction activities are; the entire project life cycle: • Oil & Gas Facilities, Pipelines Engineering, • Petrochemical Plants Fabrication, • Power Plants Procurement, • Industrial Plants Construction, • Airports,
Slide 22: Backlog as of September 30th, 2020
Backlog as of September 30th, 2020 Country Backlog % Russia 788 28,4 Serbia 530 19,1 Special Projects 491 17,7 Kazakhstan 382 13,8 Turkey 168 6,1 Iraq 166 6,0 Bahamas 93 3,4 Others 157 5,6 Total 2.775 100 All figures given above are in Million US Dollars Address: 22 of 42 Balmumcu Mah., Zincirlikuyu
Slide 23: Selected Projects Under Construction
Selected Projects Under Construction Samawa and Dhi Qar Combined Cycle Power Plant Projects Job Owner : Ministry of Electricity Location : Samawa (293 Km Northwest of Basra) Nasiriyah (230 Km Northwest of Basra) ENKA Share : USD 505 Million (1st Phases) ENKA, with its partner General Electric, will
Slide 24: Selected Projects Under Construction
Selected Projects Under Construction PJSC Nizhnekamskneftekhim 495 MW CCGT-TPP Job Owner : PJSC Nizhnekamskneftekhim, a member of TAIF Group Location : Nizhnekamsk, Republic of Tatarstan - Russia Siemens signed a contract for building 495 MW natural gas fired combined cycle power plant on a turnkey
Slide 25: Selected Projects Under Construction
Selected Projects Under Construction FGP 3GP Mechanical, Electrical & Instrumentation Installation Works Tengiz, Kazakhstan Job owner : Tengizchevroil Contractor : Senimdi Kurylys (Bechtel – ENKA Joint Venture with equal shares) Senimdi Kurylys LLP has been awarded a contract for mechanical, electri
Slide 26: Selected Projects Under Construction
Selected Projects Under Construction Kazan 250 MW Combined Cycle Power Plant Kazan, Tatarstan, Russian Federation Job owner : PJSC Kazanorgsintez (Member of the TAIF Group) In October 2019, Siemens signed a contract with PJSC Kazanorgsintez, a member of the TAIF Group, for the delivery, installation
Slide 27: Selected Projects Under Construction
Selected Projects Under Construction Morava Corridor Motorway Project Pojate – Preljina, Serbia Job owner : Government of the Republic of Serbia Ministry of Construction, Transport and Infrastructure ENKA and its joint venture partner Bechtel have been selected by the Government of the Republic of S
Slide 28: Selected Projects Under Construction
Selected Projects Under Construction St. Petersburg High-Technological Multifunctional Medical Complex (HMMC) Russian Federation ENKA commenced work in 2019 on design and construction of a High-Technology Multifunctional Medical Complex (HMMC) Project in St. Petersburg in the Russian Federation. The
Slide 29: Selected Projects Under Construction
Selected Projects Under Construction Marine Works in Prince George Wharf, Nassau, the Bahamas Job owner : Nassau Cruise Port Limited (NCPL) Contractor : ENKA Construction and Development B.V. NCPL proposes to reinvigorate the current tourism infrastructure in Nassau by boosting the cruise ship arriv
Slide 30: Selected Projects Under Construction
Selected Projects Under Construction Zainskaya 858 MW Combined Cycle Power Plant - Zainsk / Tatarstan, Russian Federation Job owner : Joint Stock Company “Tatenergo” The scope of work awarded to ENKA consists of design and survey works, construction and installation works, commissioning works, compr
Slide 31: Address: of
Address: 31 of 42 Balmumcu Mah., Zincirlikuyu Yolu No: 10 Phone : +90 (212) 376 10 00 (pbx) Fax : +90 (212) 272 88 69 Besiktas, Istanbul, Turkey 34349 Web: www.enka.com E-mail: corporate.finance@enka.com
Slide 32: Real Estate Portfolio
Real Estate Portfolio TYPE SIZE (NLA) OCCUPANCY RATE Class A Office Area 370.000 m2 88% USD 570/m2/year Retail Area * 360.000 m2 94% USD 230/m2/year 5 Star Hotel 235 Rooms ** ** All assets are located in Moscow, except 1 shopping center which is located in St.Petersburg. * During Apr and May 2020 al
Slide 33: Investments in Russia
Investments in Russia RETAIL ( 360.000 m2 ) OFFICE ( 370.000 m2 ) 1 1 Leningradsky 12 Naberezhnaya Tower 2 Kuntsevo Plaza 13 Paveletskaya 3 Maryina Roshcha 14 Moskva Krasnye Holmy 3 4 Kashirskaya 15 MosENKA 5 Sevastopolsky 12 15 9 6 Vernadskogo 2 4 13-14 7 Belyaevo 6 8 Podolsk 5 9 Orekhovo-Zuyevo 7
Slide 34: Real Estate Revenue & EBITDA
Real Estate Revenue & EBITDA YEAR RENTAL REVENUE EBITDA EBITDA MARGIN 3Q 2020 217 136 62,7% 2019 346 213 61,6% 2018 329 204 62,0% 2017 319 193 60,5% 2016 319 223 69,9% 2015 382 267 69,9% 2014 485 337 69,6% All figures given above are in Million US dollars Address: 34 of 42 Balmumcu Mah., Zincirlikuy
Slide 35: Real Estate – Some Tenants
Real Estate – Some Tenants Address: 35 of 42 Balmumcu Mah., Zincirlikuyu Yolu No: 10 Phone : +90 (212) 376 10 00 (pbx) Fax : +90 (212) 272 88 69 Besiktas, Istanbul, Turkey 34349 Web: www.enka.com E-mail: corporate.finance@enka.com
Slide 36: Real Estate New Investments
Real Estate New Investments Investment projects of ENKA TC (Fully owned by ENKA) Kuntsevo Multifunctional 1 Trade & Business Center Total Investment: USD 484 Million Total Area: 245.000 m2, Net Leasable Area: 90.000 m2 29.000 m2 Office and 61.000 m2 Retail Completion: 2015 Kashirskaya Plaza 2 Multif
Slide 37: Real Estate Further Investments
Real Estate Further Investments Investment projects of ENKA TC (Fully owned by ENKA) Maryina Roshcha 1 Shopping Mall Existing shopping center is planned to be demolished. Total Investment: USD 335 Million Total Area: 245.000 m2, Net Leasable Area: 105.000 m2 3 Vernadskogo Leningradsky Pravaberejnaya
Slide 38: Address: of
Address: 38 of 42 Balmumcu Mah., Zincirlikuyu Yolu No: 10 Phone : +90 (212) 376 10 00 (pbx) Fax : +90 (212) 272 88 69 Besiktas, Istanbul, Turkey 34349 Web: www.enka.com E-mail: corporate.finance@enka.com
Slide 39: Power Generation Overview
Power Generation Overview 3 gas-fired combined cycle power plants (total 3.854 MW) Gebze 1.554 MW Adapazarı 777 MW Izmir 1.523 MW Annual generation is 32 Billion Kwh net and the annual natural gas consumption is around 6.5 Billion CBM, Capability of meeting 11% of Turkey’s total demand, since Turkey
Slide 40: Power Generation Debt Funding
Power Generation Debt Funding COMMITTED AMOUNTS TOTAL PROJECT FINANCE TOTAL Total Debt (75%) 1.530 US EXIM, USA 860 Total Equity (25%) 510 OPIC, USD 300 Total Project Cost 2.040 HERMES, GERMANY 185 OND, BELGIUM 125 OTHER BANKS 60 TOTAL 1.530 All outstanding project finance loans have been fully paid
Slide 41: Turkey's Energy Consumption in 2019
Turkey’s Energy Consumption in 2019 SOURCES Million Kwh % Coal 112,856 39.0 Hydro 88,571 30.6 Natural Gas 54,817 18.9 Wind 21,491 7.4 Geothermal 8,229 2.8 Others 4,191 1.5 International (Net) (558) (0.2) Total Consumption 289,596 100 Source: Energy Exchange Istanbul (www.epias.com.tr) Address: 41 of
Slide 42: Turkey's Energy Demand
Turkey’s Energy Demand BILLON KWH CHANGE 12% 275 10% 8% 225 6% 4% 175 2% 0% 125 -2% 128 127 133 141 150 161 175 190 198 194 210 230 242 246 255 264 275 290 292 290 75 -4% Address: 42 of 42 Balmumcu Mah., Zincirlikuyu Yolu No: 10 Phone : +90 (212) 376 10 00 (pbx) Fax : +90 (212) 272 88 69 Besiktas, I
Slide 43: İNŞAAT VE SANAYİ A.Ş.
İNŞAAT VE SANAYİ A.Ş. Balmumcu Mah., Zincirlikuyu Yolu No: 10, 34349 Beşiktaş / İstanbul Tel: +90 (212) 376 10 00 (pbx) Fax: +90 (212) 272 88 69
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