Global Yatirim Holding A.s. · BIST:GLYHO
Global Yatirim Holding A.s — Global Yatırım Holding (Global Investment Holdings) — Investor Presentation (June 2024)
46 slides from Global Yatirim Holding A.s's investor presentation, June 2024
Slide 1: Global Investment Holdings Investor Presentation
GLOBAL INVESTMENT HOLDINGS Investor Presentation Copyright © 2021 Global Investment Holdings
Slide 2: Corporate Portfolio (31.03.2024)
Corporate Portfolio (31.03.2024) Ports Power Gas Mining Finance Real Esate GFS HOLDING A.Ş. 59.0% 50.9% 60.0% 97.7% 66.6% 100% The world's largest Co/Tri generation: Turkey’s & One of Turkey’s AUM: 76.5 bn TL Van's first independent cruise 56.2 MW installed Europe’s leading leading playe
Slide 3: We intend to stay focused on our strategic sectors
We intend to stay focused on our strategic sectors Make inorganic acquisitions in high-value regions of the Americas, Ports consolidate the market further while looking for horizontal growth in port/passenger related businesses Develop green energy projects with attractive long-term feed-in tariffs
Slide 4: Capabilities & Strategy
Capabilities & Strategy Effective recognition of attractive Unique position as industry investment opportunities in rapidly consolidator in its port growing sectors operations No specific geographic or Fast Mover First Entrant Always prioritize the sector-bound limits potential for future growth Pro
Slide 5: Financial Highlights
Financial Highlights as per IAS29 without IAS29 Net revenues (mn TL) Q1 24 Q1 23 % Change Q1 24 Q1 23 % Change Gas 1,369.0 1,468.0 -7% 1,327.9 849.6 56% Power 289.5 296.0 -2% 272.6 167.4 63% Mining 119.4 177.4 -33% 112.4 100.4 12% 1 Ports 1,238.8 845.8 46% 1,166.3 465.9 150% Brokerage&Asset Manageme
Slide 6: 2024 Guidance (without IAS29)
GIH Group Companies 2024 Guidance (without IAS29) Port Infrastructure 2023 2024 Guidance 2 Revenue (mn TL) (exc. IFRIC 12, mn TL) 3,810.3 50%-70% Growth Adjusted EBITDA (exc. IFRIC 12, mn TL) 2,474.9 50%-70% Growth Gas (Naturelgaz) 2023 2024 Guidance Revenue (mn TL) 3,136.2 20%-40% Growth Operating
Slide 7: Financial Highlights (as per IAS29)
Financial Highlights (as per IAS29) Change in Revenue & EBITDA Revenue (mn TL)1 EBITDA (mn TL) 1 Revenues exclude the impact of IFRIC 12 on Cruise Ports amounting to 178.3mn TL for Q1 2024 and 461.3mn TL for Q1 2023 7
Slide 8: Financial Highlights (without IAS29)
Financial Highlights (without IAS29) Change in Revenue & EBITDA Revenue (mn TL)1 EBITDA (mn TL) 1 Revenues exclude the impact of IFRIC 12 on Cruise Ports amounting to 461.3mn TL for Q1 2024 and 178.3mn TL for Q1 2023 8
Slide 9: Financial Highlights: Change in P&L
Financial Highlights: Change in P&L GIH reported a consolidated net profit of 239.0mn TL in Q1 2024, compared to a net profit of TL 171.1mn in Q1 2023, indicating 40% increase yoy. The bottom line incorporated TL 348.7mn of non cash income and expense, of which TL 493.6mn were depreciation and amo
Slide 10: Net Debt/EBITDA (as per IAS29)
Net Debt/EBITDA (as per IAS29) 10
Slide 11: Ports
G GLOBAL INVESTMENT HOLDINGS PORTS GLOBAL PORTS HOLDING
Slide 12: Global Ports Holding Plc (GPH): Years of Success
Global Ports Holding Plc (GPH) 20 Years of Success 2014-2018: 2019+: 2003-2013: “Global Expansion” “Maturity” Globally The Future “Origins” Establishing our Dominant Cruise Global Presence Infrastructure Platform Founded in 2003 Deploy expertise globally, Firmly established as world’s Now es
Slide 13: Global Ports Holding Plc (GPH) Snapshot
Global Ports Holding Plc (GPH) Snapshot Americas EMEA Asia 2025E EBITDA*: 50% 46% 4% 2032E EBITDA*: 55% Liverpool 44% 1% Kalundborg Prince Rupert Bremerhaven Tarragona Valencia Venice Barcelona Cagliari Zadar Vigo Lisbon Ege Port Kusadasi Malaga Bodrum Lanzarote Alicante Valletta Taranto Las Palmas
Slide 14: Top Cruise Ports by Region
Global Ports Holding Plc (GPH) Top Cruise Ports by Region 5 Largest Cruise Ports in The Caribbean(1) (MM Pax, 2019) 5 Largest Cruise Ports in The Mediterranean (MM Pax, 2019) Nassau is the single largest port, as Cozumel GPH Terminals has 3 terminals operated by different liners Other Terminals 1.5
Slide 15: Strong Pipeline with Clearly Identified Opportunities
Global Ports Holding Plc (GPH) Strong Pipeline with Clearly Identified Opportunities Project Funnel Project Screening / Pre-Feasibility Due Diligence / MoU Concession Agreement & Closing and Induction Financing Negotiations Americas & Caribbean 3 Ports 3 Ports 3 Ports: • Valencia Europe, • Bremerhav
Slide 16: Ports Division: Calls and Passengers
Ports Division: Global Ports Holding Plc (GPH) Number of calls at GPH`s consolidated ports in Jan-Mar 2024 was 18% higher than Jan-Mar 2023 levels, while number of passengers visiting GPH`s consolidated ports in Jan-Mar 2024 was 30% higher than 2023 levels. Number of calls at GPH`s consolidated
Slide 17: How Does GPH Select Assets into the Portfolio?
Global Ports Holding Plc (GPH) How Does GPH Select Assets into the Portfolio? “Marquee” Ports Nassau, Barcelona, Valletta, Singapore, Lisbon Major destinations, but Government run, under- Nassau, Canary Islands, Prince Rupert, Alicante, invested and operating significantly below Tarragona potential
Slide 18: Gas
G GLOBAL INVESTMENT HOLDINGS Gas AD TEMZENER\ yyy TEMZCevRE Qwass ® (NaTURELGAZ
Slide 19: Gas: Naturelgaz Market Leader of Turkish Non-pipe CNG & LNG Market
Gas: Naturelgaz Turkey’s & Europe’s leading non-piped natural gas (CNG & LNG) distributor Market Leader of Turkish Non-pipe CNG & LNG Market Shareholder Structure NTGAZ Leader of Turkish Non-pipe 34,5% First trading date on Borsa Istanbul Stock Exchange: CNG & LNG Market: market share* April 1, 2021
Slide 20: Naturelgaz Business Lines
Naturelgaz Business Lines Bulk CNG & LNG City Gas Supplying CNG & LNG for Supplying CNG & LNG to companies in various counties that have no access industries (e.g. asphalt plants, to pipelines due to food & beverage sector, and geographical / economical mining) constraints. Auto CNG Well CNG Operati
Slide 21: Bulk CNG & LNG Operations
Bulk CNG & LNG Operations 1 2 Fertile 3 CNG Economic No waste No 4 No stocking 5 Practicle 6 invisible cost cost Naturelgaz supplies LNG from LNG terminals in Marmara Ereğlisi (Botaş) and Aliağa (Egegaz) LNG is transported to customer sites in LNG tanker trucks LNG Natural gas is delivered to the cu
Slide 22: City Gas
City Gas Naturelgaz provides CNG and LNG to counties where Naturelgaz is the market creator & the most natural gas cannot be provided through pipelines due to competitive player in economic and geographical reasons. fast growing Citygas business. Bulk CNG filling stations of Naturelgaz are also
Slide 23: Power
G GLOBAL INVESTMENT HOLDINGS Power
Slide 24: Consus Enerji 97,9 MW installed capacity
Consus Enerji Leading player in the biomass and distributed energy sector 97,9 (MW) installed capacity Biomass Solar Distributed Power Commerce 31,0 MW 10,8 MWp 56,2 MW Wholesale/Retail Electricity Installed capacity Installed capacity Installed capacity Trade Biomass Supply and A Leader in High-Eff
Slide 25: Power: Distributed Power & Energy Efficiency
Power: Distributed Power & Energy Efficiency Tres Energy 1 56,2 MW Installed Capacity Application Areas: • Industrial Facilities 2 Efficiency up to 90% • Shopping Centers • Hotels • Hospitals 3 Saving opportunity without incurring investment cost • Offices • Ports • Airports 4 Build-Operate/ Energy
Slide 26: Power: Biomass
Power : Biomass Group Structure 1 29,2 MW Installed capacity Consus Energy 2 10 Years YEKDEM (13,3 dolarcent/kwh) Mavibayrak Doğu 3 49 Years License period Mavibayrak Energy Energy Doğal Energy 12 MW 12 MW 5.2MW+1,2MWp 4 Large biomass supply network (operational) (operational) (operational) Edusa* (
Slide 27: Power: Solar
Power : Solar Overview Location • Global Investment Holdings has commissioned its first solar power plant, Ra Solar, with 10.8 MWp installed capacity in Mardin and commenced operations in 2020, standing out as one of the most efficient plants in the country, with its remarkable generation performanc
Slide 28: Strong Growth Potential
Strong Growth Potential Renewable Energy Portfolio Distributed Energy Portfolio Biomass Power Plants Co/Trigeneration & Solar Auxiliary resource (hybrid) facilities: Developing 4.4 MWp solar power plants Expanding Cogeneration/Trigeneration Portfolio: Tres Energy within existing biomass facilities
Slide 29: Mining
G GLOBAL mmm INVESTMENT HOLDINGS C.STRATON
Slide 30: Mining: Feldspar
Mining: Feldspar ► Straton Maden, a 97.7% owned subsidiary of GIH, was acquired in 2013 ► Straton has substantial feldspar reserves, mine processing facilities and commercial teams based in the West Aegean region of Turkey ► Straton is among the top five feldspar producers in Turkey with 318,531 ton
Slide 31: Real Estate
G GLOBAL INVESTMENT HOLDINGS REAL ESTATE AMNDSS, oT sie MARDUS
Slide 32: Ardus Real Estate Investments
Ardus Real Estate Investments Denizli Sumerpark Mix-Use Real Estate Development Sümerpark Project, which is the new living center of Denizli, is on 100,908.07 m2 total gross construction area. The project is composed of Sümerpark Evleri, consisting of 608 houses, private school and hospital lands. C
Slide 33: Finance
INVESTMENT HOLDINGS FINANCE Alli clSaB botsy QGLOBAL G GLOBALMD SECURITIES SS PORTFOLIO MANAGEMENT
Slide 34: İstanbul Asset Management
İstanbul Asset Management Istanbul Asset Management is the largest portfolio management company which has domestic capital and without a bank/brokerage house /insurance company as a parent ► Actus Asset Management and Istanbul Asset Management finalized their merger under Istanbul Asset Management b
Slide 35: Global Securities & Global MD Asset Management
Global Securities&Global MD Asset Management Global Securities: ► is an independent and listed company on BIST that provides capital market brokerage services to individuals and corporates; local and international investors ► had a market share of 1% with an equity trading volume of 216bn TL in Q1 2
Slide 36: GIH's Sustainability
GIH`s Sustainability As a Global Investment Holdings; Sustainability Development Priorities Global Investment Holdings is listed in the BIST Combating Climate Sustainability Index. Change and Energy Management We are one of the signatories to the United Nations Global Compact. Global Investment
Slide 37: GIH's Sustainability Contributions
GIH`s Sustainability Contributions Including both Turkey and the other countries where we operate, we touch Local Workforce, people’s lives across a wide territory. We create a local workforce in every region we set up operations, contributing directly to the economic and social contribution to loca
Slide 38: Corporate Governance & Ratings
Company Overview Corporate Governance & Ratings Credit Rating - JCR Eurasia Corporate Governance Rating - Kobirate Confirmed Overall Company Rating: 9.26 (out of 10.0) Global Investment Holdings (GIH) 28.12.2023 Sub-sections Rating Long Term National Local Rating A- (tr) / (Stable Outlook) Sharehold
Slide 39: Chairman & CEO, CFO and Group CEOs
Chairman & CEO, CFO and Group CEOs The evolution of key financial indicators A Team of Industry Specialists The Group’s key executives • Founding shareholder, Chairman and CEO of • Board member of GIH and various Group • Serves as the Group’s CFO since 2020 Global Investment Holdings. Actively invol
Slide 40: Appendix
G GLOBAL INVESTMENT HOLDINGS APPENDIX
Slide 41: Balance Sheet
Balance Sheet (TL Million) 31 Mar 2024 31 Dec 2023 ASSETS Current assets 11,494.4 10,194.2 Cash and banks 6,316.1 5,058.2 Marketable securities 825.9 804.5 Trade and other receivables 2,354.4 2,285.8 Inventories 594.0 665.6 Other current assets 1,404.0 1,380.0 Non-current assets 42,274.1 41,033.9 Fi
Slide 42: Income Statement
Income Statement (TL Million) Q1 2024 Q1 2023 Total gross revenue 3,595.79 3,601.73 Cost of sale and service -2,207.16 -2,602.69 Gross profit 1,388.63 999.04 Operating expense -806.08 -720.49 Other operating income/(loss), net 49.91 176.48 Equity pickup asset gain/(loss) 41.07 44.35 Gross operating
Slide 43: Global Ports Holding Plc (GPH): Industry Fundamentals
Global Ports Holding Plc (GPH) Industry Fundemantals Revenue Risk - Volumes Economics/Structure of the Transportation Industry is such that Cruise Lines Run Vessels at >100% Capacity (LCC Airlines ~90+%, Flag Carriers: 80-85%) Shipyard Orderbooks Give High Visibility on Industry Capacity Growth up t
Slide 44: Global Cruise Capacity, Development of World Regions
Global Ports Holding Plc (GPH) Global Cruise Capacity, Development of World Regions Over the past few decades, cruising has grown around the world with the Caribbean consistently being the dominant cruise region globally.
Slide 45: Looking Ahead: Net Delivered Lower Berths
Global Ports Holding Plc (GPH) Looking Ahead Forecast Supply 2023-2035 (Total and Net Added Lower Berths) 911 Great Pandemic Estimated Total and Net Attacks Recession Period Lower Berths 2023-2025 • Growth is locked in for the next four years. 800,000 • Beyond 2026, the vessel replacement pattern 70
Slide 46: 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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