Turcas Holding A.s. · BIST:TRCAS
Turcas Holding A.s — Turcas Petrol A.Ş. — H1 2022 Earnings Presentation
13 slides from Turcas Holding A.s's earnings presentation, August 2022
Slide 1: 1H22 Earnings Presentation
1H22 Earnings Presentation DISCLAIMER STATEMENT Turcas Petrol A.S. (“Turcas") has prepared this presentation document (the "Document”) consisting of documents thereto for the sole purposes of providing information and projections and statements retating to Turcas (the “Information’). Turcas cannot g
Slide 2: 2Q & 1H22 General Overview
2Q & 1H22 General Overview Turcas 2Q22 Turcas Petrol IFRS Consolidated Net Income/Loss Bridging (2Q22) (MM TL) Net Profit: 462 MM TL 35 122 5 -52 -11 -1 1,262 354 10 799 Profit For The Turcas' Share in Turcas' Share in Usufruct Other* STAŞ BPA Opex Deferred Tax Net Financing Profit For The Period 1Q
Slide 3: At a glance – 1H22 & [2Q22]
At a glance – 1H22 & [2Q22] Fuel Distribution & Lubricants VOLUME (1) NET SALES EBITDA NET PROFIT 3,450 68,697 4,478 2,467 ths m3 MM TL MM TL MM TL Shell & Turcas in 1H22 in 1H22 in 1H22 in 1H22 [1,811 ths m3 in 2Q] [42,542 MM TL in 2Q] [2,265 MM TL in 2Q] [1,182 MM TL in 2Q] Power Generation 1,209
Slide 4: Quarterly & YoY Segmental Analysis
Quarterly & YoY Segmental Analysis Oil Segment Energy Segment MM TL Shell & Turcas RWE & Turcas (Turcas share: 30%) (Turcas share: 30%) Net Profit/ Net Profit/ Revenues EBITDA Revenues EBITDA Loss Loss 1H22 68,697 4,478 2,467 2,525 355 347 1H21 20,448 952 44 680 52 23 2Q22 42,542 2,265 1,182 1,276 1
Slide 5: Shell & Turcas JV – 1H22 Key Operational Highlights
Shell & Turcas JV – 1H22 Key Operational Highlights Onsite B2B + B2C Fuel Sales Commercial Fuel Sales ths m3 ths m3 +26% y/y +27% y/y 2,462 600 1,958 474 +297 +1,298 in Q2 in Q2 1H21 1H22 1H21 1H22 Lubricants Sales Onsite Market Share Progress in 2021-2022 May. 1 ths m3 22.0% 21.9% 21.6% +6% y/y 21.
Slide 6: Shell & Turcas JV – 1H22 Key Financial Highlights
Shell & Turcas JV – 1H22 Key Financial Highlights Net Sales EBITDA MM TL MM TL +236% y/y +370% y/y 4,478 68,697 +42,542 +2,265 in Q2 in Q2 20,448 952 1H21 1H22 1H21 1H22 Net Profit / Loss Shell & Turcas 2Q22 & 1H22 Highlights MM TL • Total sales volume is up by 24% compared to the first half of the
Slide 7: Cash inflows from Shell & Turcas
Cash inflows from Shell & Turcas Dividends & Management Fees & SHL Interest Received from Shell & Turcas MM TL 148 MM TL dividends received in 3Q19. Out of that amount, 73 MM TL transferred back to STAS as SHL. This 73 MM TL is planned to be repaid to Turcas in September 2022. 65 57 148 5 10 16 14 9
Slide 8: RWE & Turcas JV – 1H22 Key Financial Highlights
RWE & Turcas JV – 1H22 Key Financial Highlights Net Sales EBITDA MM TL MM TL +271% y/y +577% y/y 355 2,525 +131 +1,276 in Q2 in Q2 680 52 1H21 1H22 1H21 1H22 Net Profit / Loss RWE & Turcas 2Q22 & 1H22 Highlights MM TL • Although power generation has declined by 33% (compared to the first half of 202
Slide 9: RWE & Turcas JV – 1H22 Key Operational Highlights
RWE & Turcas JV – 1H22 Key Operational Highlights Gas Consumption Electricity Generation mcm GWh -31% y/y -33% y/y 1,813 339 233 1,209 +87 +447 in Q2 in Q2 1H21 1H22 1H21 1H22 RTG Average Electricity Sales Price (TL/MWh) Cash inflows to Turcas from RWE & Turcas JV MM TL 2,585 SHL Repayment Cash Capi
Slide 10: Turcas Consolidated IFRS Summary BS & PL
Turcas Consolidated IFRS Summary BS & PL IFRS Consolidated Financial Statements & Financing Ratios Balance Sheet , million TL 2021 1H2022 Ytd Income Statement, million TL 1H2021 1H2022 Y/Y Revenues (Electricity Sales) 39 0 n.m. Cash & Cash Equivalents 21 55 168% Gross Profit 26 0 n.m. Receivables Fr
Slide 11: Financial Deleveraging Ongoing – Planned Schedule
Financial Deleveraging Ongoing – Planned Schedule MM EUR Denizli CCPP +TKJ PP Project Finance Loans Principal Outstanding Balance 200 150 127 114 39 100 100 37 85 173 165 33 151 135 31 120 50 102 88 77 67 54 30 21 18 0 6 - 2013 2013 Dec. 2013 Dec 2013YE 2014 2014YE 2015 2015YE 2016 2016YE 2017 2017Y
Slide 12: 2022 Guidance vs Realizations as of end of 1H22
2022 Guidance vs Realizations as of end of 1H22 Guidance Updated guidance Realizations / Current Difference Unit (as of 14 March 2022) (as of 9 August 2022) (as of 9 August 2022) Cash Flow From Subsidiaries Shareholder Loan Interest + Principal Repayments to be received from Shell & Turcas (Principa
Slide 13: Thank you!
Thank you! Contact Information Arif ŞAHİN Mert GÖKNAR Corporate Finance and Investor Finance and Investor Relations Manager Relations Deputy Manager E-mail: mert.goknar@turcas.com.tr E-mail: arif.sahin@turcas.com.tr Phone: +90 212 259 00 00 / Ext: 1243 Phone: +90 212 259 00 00 / Ext: 1238