Aksa Enerji Uretim A.s. · BIST:AKSEN

Aksa Enerji Uretim A.s — Q1 2016 Earnings Presentation

16 slides from Aksa Enerji Uretim A.s's earnings presentation, May 11, 2016

  1. Slide 1: 1Q2016 Earnings Presentation

    1Q2016 EARNINGS PRESENTATION

  2. Slide 2: Market Highlights - Generation & Consumption

    Market Highlights- Generation & Consumption  Electricity generation and consumption both increased by 10% YoY in 1Q16. Generation (GWh) Consumption (GWh) 70.000 70.000 64.705 63.284 57.430 58.784 60.000 60.000 50.000 50.000 40.000 40.000 30.000 30.000 20.000 20.000 10.000 10.000 - 0 1Q15 1Q16 1Q15

  3. Slide 3: Market Highlights - Installed Capacity Changes

    Market Highlights - Installed Capacity Changes  Total installed capacity in Turkey has reached 1Q16 Installed Capacity: 74,039 MW 74,039 MW in 1Q16, indicating a 5% increase YoY. Hydro; 35%  When new and decommissioned capacities are Wind; 6% netted off, there is 835 MW increase in coal & Others;

  4. Slide 4: Market Highlights - Prices

    Market Highlights - Prices Weighted average prices were down 17% YoY in 1Q16. The main reasons being:  the increased production from renewable capacities at low cost  Increased participation at YEKDEM scheme causing no-concern for water retention to sell at peak season  Excess capacity 180,0 176

  5. Slide 5: 1Q2016 Results - Snap Shot

    1Q2016 Results - Snap Shot * Adjusted Adjusted Actual 1Q15 4Q15 1Q16 YoY Change QoQ Change Installed Capacity (MW) 2.151 2.076 2.211 60 MW 135 MW Sales Volume (GWh) 3.013 4.093 4.178 39% 2% Net Sales (TL mn) 544 708 726 33% 3% Gross Profit (TL mn) 58 48 71 23% 47% Operating Inc. (TL mn) 54 42 68 27%

  6. Slide 6: Company Highlights - Cost Structure (TL)

    Company Highlights - Cost Structure (TL) Cost Structure vs. Sales Price (1Q 2016) Improving Lower Cost Output % of Weighted Avg. Weighted Avg. Renewables Cost 143 Sales Price 173,7 Local 61% 76% Sourcing TL/MWh 200,3 4,178 GWh 200 30,2 160 155,5 146,3 3,013 GWh 130,0 129,8 32,5 2.618 63 120 18,0 76

  7. Slide 7: Company Highlights - Sales mix and prices (TL)

    Company Highlights - Sales mix and prices (TL) Capacity 44% 80% (adj) Utilization TWh 15 14 TWh 14 Balancing Market 13 Northern Cyprus BSM 36% 12 Sales 5 Wholesale Bilateral 11 to BSM 10 Retail Bilateral 9 4.2 TWh 8 7 6 Total Contracted 64% 5 86% 3.63.6 Contracted BSM 4 9 Sales 3 2 14% Contracted 0.

  8. Slide 8: 1Q 2016 Results – Sales Breakdown

    1Q 2016 Results – Sales Breakdown * 1Q 2015 1Q 2016 MWh TL/MWh MWh TL/MWh Northern Cyprus 170.814 261,78 174.808 212,1 Renewable Market (YEKDEM)* 99.740 168,52 231.572 214,8 BSM (Spot Market Sales) 1.081.536 170,86 674.978 227,2 Affiliated DisCos 107.683 179,69 76.134 127,2 OTC & Bilateral** 1.553.4

  9. Slide 9: Financial highlights 1Q2016 Consolidated income statement

    Financial highlights 1Q2016 Consolidated income statement Net sales & EBITDA (TL mn) 726 2.320 EBITDA Margin EBITDA Margin 1Q15: 15.9% (adj) 1.957 2014: 17.6% 544 1Q16: 15.9% 2015: 18.8% (adj) 116 436 86 344 Net Sales EBITDA Net Sales EBITDA 1Q15 Adj 1Q16 2014 2015 Operating income & Net income (TL

  10. Slide 10: Financial highlights 1Q2016 Net financial debt and repayment schedule

    Financial highlights 1Q2016 Net financial debt and repayment schedule Net financial debt (TL mn) 3.000 76% 75% 80% 61% 62% 70% 2.500 55% 55% 52% 2.501 2.439 60% 2.000 50% 1.500 1.781 40% 1.280 1.306 30% 1.000 1.270 1.138 20% 500 10% - 0% 2010 2011 2012 2013 2014 2015 1Q16 6.0 4.2 4.0 4.2 5.2 5.8 5.2

  11. Slide 11: Financial Highlights 1Q2016

    Financial Highlights 1Q2016

  12. Slide 12: Consolidated income statement

    Consolidated income statement (TL mn) 2011 2012 2013 2014 2015 Q1 2013 Q1 2014 1Q 2015 1Q 2016 Net sales 1315,4 1840,6 1786,0 1957,4 2320,0 391,5 472,1 353,4 726,0 Cost of sales -1088,0 -1604,0 -1565,9 -1710,8 -2001,6 -341,0 -423,5 -294,6 -654,8 Gross profit 227,4 236,6 220,1 246,6 318,3 50,5 48,6 5

  13. Slide 13: Consolidated balance sheet

    Consolidated balance sheet Assets (TL mn) 2012 2013 2014 2015 1Q 2013 1Q 2014 1Q 2015 1Q 2016 Cash and cash equivalents 40,6 22,3 34,2 48,5 101,6 127,6 79,1 252,8 Trade receivables net 245,9 142,3 88,7 182,6 227,2 115,0 23,8 299,8 Due from related parties and shareholders 593,9 0,0 4,4 0,0 252,4 0,0

  14. Slide 14: Consolidated statement of cash flows

    Consolidated statement of cash flows Restated (*) CASH FLOWS FROM OPERATING ACTIVITIES 1Q 2016 FY 2015 Net profi t / (l os s ) for the peri od 7,821,811 (105,907,978) Adjus tments for: Impa ct of error (7,852,430) -- Depreci a ti on a nd a morti s a ti on 47,283,053 31,732,522 Provi s i on for empl

  15. Slide 15: Contact- Investor Relations

    Contact- Investor Relations Özlem McCann Head of IR Ozlem.McCann@aksa.com.tr +90 216 681 1053 Rüzgarlıbahçe Mah. Selvi Çıkmazı No:10 Kavacık Beykoz, Istanbul 14

  16. Slide 16: Disclaimer

    Disclaimer Aksa Enerji 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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