Aksa Enerji Uretim A.s. · BIST:AKSEN
Aksa Enerji Uretim A.s — Investor Presentation (September 2024)
35 slides from Aksa Enerji Uretim A.s's investor presentation, September 2024
Slide 1: Investor Presentation September 2024
1 Investor Presentation September 2024
Slide 2: Key Investment Highlights
Key Investment Highlights AKSA ENERGY: AN OUTLIER IN TURKISH ENERGY SECTOR Deep Expertise in Energy Sector Geographically Diversified Portfolio Guaranteed Long-term Hard Currency Based Revenues Sustainable Growth Resilient Business Model 2
Slide 3: Shareholder Structure
Shareholder Structure AKSA ENERGY: LISTED IN BIST SUSTAINABILITY, CORPORATE GOVERNANCE, DIVIDEND, PARTICIPATION, MSCI & FTSE INDICES SHAREHOLDING STRUCTURE of AKSA ENERGY SHAREHOLDING STRUCTURE OF KAZANCI HOLDİNG A.Ş. Tülay Kazancı; 4,8% Mehmet Kazancı; 5,9% Free Float 20% Ali Metin Kazancı; 29,0% K
Slide 4: Power Generation by Fuel Type
Power Generation by Fuel Type TURKISH ENERGY SECTOR – 50% OF ELECTRICITY GENERATED FROM RENEWABLE SOURCES 35% 34% 25% 21% 21% 16% 10% 11% 8% 6% 3% 3% 3% 3% Lignite & Coal Hydro Natural Gas Wind Solar Geothermal Other 8M2023 8M2024 Source: TEİAŞ 4
Slide 5: Price Evolution in Turkish Market
Price Evolution in Turkish Market Price SPOT PRICE Evolution CEILING in Turkish INCREASED TO 3,000Market TL/MWh FROM 2,700 TL/MWh IN JUL’24 Average Spot Electricity Prices & Maximum Settlement Prices (TL/MWh) Maximum Settlement Price Implementation 3.750 3.548 3.000 2.589 2.837 2.562 2.574 2.633 2.3
Slide 6: Monthly Change in Power Consumption
Monthly Change in Power Consumption TURKISH ENERGY SECTOR – 6% AVERAGE GROWTH RATE IN 2024 15% 10% 9% 6% 5% 4% 2% 1% January February March April May June July August 2024 vs 2023 Source: TEİAŞ 6
Slide 7: Financial & Operational Highlights 1H2024
FINANCIAL & OPERATIONAL HIGHLIGHTS 1H2024
Slide 8: Key Highlights – 1H24
Key Highlights – 1H24 SUSTAINED RECOVERY IN EBITDA MARGIN TL million 1H24 1H23 y/y 1H24 vs 1H23 Net Sales 12,333 24,958 -51% EBITDA 3,144 5,375 -42% Net Income 1,509 3,464 -56% Net Financial Debt 21,020 15,772(*) 33% 1H24 1H23 y/y KPIs-1H24 vs 1H23 Gross Margin 20% 21% -1pp EBITDA Margin 25% 22% +3p
Slide 9: Regional Breakdown
Regional Breakdown FOREIGN OPERATIONS’ CONTRIBUTION TO EBITDA REACHING 82% TL million Domestic Foreign Share of Foreign Cumulative- 1H24 33% Net Sales 8,298 4,035 67% 18% EBITDA 564 2,581 82% Profit Before Tax (1,351) 4,173 TL million Domestic Foreign Share of Foreign Cumulative- 1H23 20% Net Sales
Slide 10: Shares of Regions in EBITDA
Shares of Regions in EBITDA FOREIGN OPERATIONS’ CONTRIBUTION INCREASING AS EXPECTED Shares of Regions in EBITDA 90% 82% 80% 70% 60% 54% 50% 46% 40% 30% 20% 18% 10% 0% 1H23 1H24 Domestic Foreign 1H23 1H24 • Foreign operations contribution increased to 82% of our EBITDA as expected • Contribution of d
Slide 11: Domestic Operations
DOMESTIC OPERATIONS
Slide 12: Domestic Operations at a Glance
Domestic Operations at a Glance MAJORITY OF DOMESTIC INSTALLED CAPACITY BASED ON NATURAL GAS Bolu-Göynük DOMESTIC 270 MW INSTALLED CAPACITY 1,358 MW Natural Gas (1 plant) 900 MW Fuel-Oil (1 plant) 188 MW Lignite (1 plant) 270 MW Antalya 900 MW Northern Cyprus 188 MW 12
Slide 13: Antalya PP - Key Highlights
Antalya PP - Key Highlights ACTIVE Ali PRESENCE Metin IN ANCILIARY Kazancı SERVICES Antalya Power Plant – Key Highlights Antalya Power Plant Location Technical Overview < ◼ Energy Source: Natural Gas (CCGT) Plant Overview ◼ Installed Capacity: 900 MW ◼ CoD: 2008 ◼ 2 Siemens SGT5 – 4000F gas turbine
Slide 14: Bolu PP - Key Highlights
Bolu PP - Key Highlights ROUTINE Bolu MAINTENANCE Göynük HELD IN Power Plant 2Q24Highlights – Key Bolu Göynük Power Plant Location Technical Overview ◼ Energy Source: Lignite Plant Overview ◼ Installed Capacity: 270 MW ◼ CoD: 2015 ◼ 2 units of SES-Tlmace boilers ◼ 2 units of Skoda Steam Turbines MTD
Slide 15: Northern Cyprus - PP Key Highlights
Northern Cyprus - PP Key Highlights USD BASED CAPACITY CHARGE SUPPORTIVE OF MARGINS Nothern Cyprus Power Plant Location Technical Overview ◼ Energy Source: Liquid Fuel (Combined Cycle) ◼ Installed Capacity: 188 MW Plant Overview ◼ CoD: 2003 ◼ Contract Expiry: 2038 ◼ Cost-plus pricing mechanicsm ◼ 10
Slide 16: Renewable Energy Projects - Key Highlights
Renewable Energy Projects - Key Highlights 891.41 MW STORAGE-BASED WIND and SOLAR POWER PLANTS Key Highlights Power Plant Location • On December 4, 2023, our preliminary licenses were granted for a total of 831.41 MW Storage Wind and Solar Energy Plants by EMRA. • With the acquisition of pre-license
Slide 17: Foreign Operations
FOREIGN OPERATIONS
Slide 18: Contribution to the Energy Transition
Contribution to the Energy Transition ACTIVE IN CENTRAL ASIA SINCE 2022… ASIA INSTALLED CAPACITY 740 MW PIPELINE CAPACITY 670 MW 18
Slide 19: Country Snapshots – Central Asia
Country Snapshots – Central Asia ATTRACTIVE REGION WITH STRONG GROWTH POTENTIAL… Uzbekistan Kazakhstan Population 36.8 mn Population 20.1 mn GDP $ 90.8 bn GDP $ 261.4 bn GDP per capita $ 2,494 GDP per capita $ 13,279 Installed Capacity 17,659 MW Installed Capacity 24,524 MW Energy Consumption 66.1 b
Slide 20: Tashkent & Bukhara PP – Key Highlights
Tashkent & Bukhara PP – Key Highlights USDTashkent BASED CAPACITY CHARGE A, B and WITH ADDITIONAL Bukhara EBITDA Power Plants EXPECTATION – Key HighlightsIN 2025 Uzbekistan Power Plants’ Locations Technical Overview ◼ Energy Source: Natural Gas (CCGT) ◼ Installed Capacity: 740 MW (A: 240 MW; B: 230
Slide 21: Central Asia Projects – Key Highlights
Central Asia Projects – Key Highlights 430MW NATURAL GAS POWER PLANT & 240 MW COMBINED HEAT & POWER PLANT Uzbekistan Plant Location ◼ Project Name: Talimarjon (natural gas combined cycle power plant) ◼ Installed Capacity: 430 MW ◼ Will use Wärtsilä gas engines and Siemens steam turbines ◼ Terms: 25-
Slide 22: Attractive Region with Strong Growth Potential
Attractive Region with Strong Growth Potential ACTIVE IN AFRICA SINCE 2017… AFRICA INSTALLED CAPACITY(1) 430 MW (2) PIPELINE CAPACITY 605 MW (1) Excludes Congo and Madagascar (2) As of 11 September 2024, 66 MW Madagascar power plant has been sold. However, Aksa Energy will continue to operate the po
Slide 23: Country Snapshots – Africa
Country Snapshots – Africa CONTRIBUTION TO ENERGY ACCESS Ghana Madagascar Mali Senagal Population 33.4 mn Population 29.6 mn Population 22.6 mn Population 17.32 mn GDP $ 73.8 bn GDP $ 15.3 bn GDP $ 18.8 bn GDP $ 27.68 bn GDP per capita $ 2,204 GDP per capita $ 516.6 GDP per capita $ 833 GDP per capi
Slide 24: Africa Operations – Key Highlights
Africa Operations – Key Highlights FUELPower Mali IS PASS Plant THROUGH IN ALL – Key OF OUR OVERSEAS OPERATIONS Highlights Africa Power Plants’ Locations Technical Overview ◼ Energy Source: Natural Gas + Liquid Fuel ◼ Installed Capacity: 370 MW Plant Overview ◼ Fuel cost pass-through mechanism ◼ Tak
Slide 25: Africa Projects – Key Highlights
Africa Projects – Key Highlights 350MW Africa & 255 MW Projects NATURAL GAS POWER PLANTS – Pipeline Ghana Plant Location ◼ Project Name: Kumasi (natural gas combined cycle power plant) ◼ Installed Capacity: 350 MW ◼ Will use Siemens gas turbines Terms: 20-year PPA, guaranteed electricity sales price
Slide 26: Future Strategy and Pipeline
Pipeline FUTURE Mali STRATEGY Power PlantAND PIPELINE – Key Highlights Building Another Aksa Energy within 5 years (85% growth in installed capacity) +255MW +430MW +891MW +179MW +240MW +50MW +171MW +35MW Bolu-Göynük Talimarjon Senegal 470 Türkiye 241 4,813 MW 4,810 MW 35 MW SPP 430 MW CCGT 255 814 M
Slide 27: Sustainability
SUSTAINABILITY
Slide 28: Sustainable Business Model
SUSTAINABILITY AT AKSA ENERGY SUSTAINABLE BUSINESS MODEL • The Company acts with the Responsibility of a Sustainable Business Model for a safe future. • The Company' sustainability approach is based on three pillars - Environmental Sustainability, Employees and Social Responsibility. • As a signator
Slide 29: We Are Committed to Sustainable Development Goals
SUSTAINABILITY AT AKSA ENERGY WE ARE COMMITTED TO SUSTAINABLE DEVELOPMENT GOALS! • Aksa Energy prioritizes identifying and managing the significant environmental impacts of the industry, respecting human and employee rights, and contributing to social development in the regions where it operates. •
Slide 30: Annex
ANNEX
Slide 31: Consolidated Summary Income Statement
Annex CONSOLIDATED SUMMARY INCOME STATEMENT 1H24 1H23 y/y MM TL Net sales 12,333 24,957 -51% Cost of sales (9,842) (19,750) -50% Gross Profit 2,491 5,208 -52% General & administrative costs (603) (476) 27% Marketing expenses (43) (10) 342% Other operating income 319 228 40% Other operating expenses
Slide 32: Consolidated Summary Balance Sheet
Annex CONSOLIDATED SUMMARY BALANCE SHEET 1H24 YE23 ytd MM TL Cash and cash equivalents 1,247 991 26% Trade receivables 9,455 16,876 -44% Inventories 1,888 1,118 69% Total Current Assets 14,770 21,317 -31% PP&E 45,240 43,676 4% Intangibles 1,276 1,380 -8% Total Non-current Assets 53,779 48,290 11% To
Slide 33: 2024 Guidance
Annex 2024 2024GUIDANCE BEKLENTİLERİ FINANCIAL 2023 ACTUAL 2024 GUIDANCE COMPOSITION COMPOSITION INDICATOR (MM TL) (MM TL) 24% 38% 62% 76% NET SALES 35.172 Domestic Foreign 27.215 Domestic Foregin 36% 23% 64% 77% EBITDA 7.901 Domestic Foreign 7.795 Domestic Foreign 21% 23% 22% 57% 7% 71% CAPEX 1.834
Slide 34: Investor Relations Contact Information
Contact Information INVESTOR RELATIONS Sena Atay Pınar Saatcıoğlu Investor Relations Investor Relations and Manager Sustainability Director investorrelations@aksaenerji.com.tr +90 216 681 1053 Rüzgarlıbahçe Mh . Özalp Çıkmazı No:10 Kavacık / Beykoz Istanbul Aksa Enerji Üretim A.Ş. https://www.aksain
Slide 35: Disclaimer
DISCLAIMER Aksa Energy has prepared this presentation for the sole purpose of providing information, which contains forward-looking statements that reflect the Company management’s current views with respect to certain future events. Although it is believed that the expectations reflected in these s
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