Alarko Holding A.S. · BIST:ALARK
Alarko Holding A.S — Investor Presentation (November 2011)
45 slides from Alarko Holding A.S's investor presentation, November 2011
Slide 1: Alarko Group of Companies Investor Presentation
Alarko Group of Companies Investor Presentation For Further Information: http://www.alarko.com.tr info@alarko.com.tr Ömer Çelik Senior Vice President Finance & IR omer.celik@alarko.com.tr Tel: +90 (212) 227 52 00 Alarko Center, Istanbul-Turkey
Slide 2: Table of Contents
Table of Contents Introduction................................................................................................................................................... 3 Alarko Holding Shareholder Structure & Participations...................................................................
Slide 3: Introduction
Introduction ALARKO was founded in 1954 and today, operates in six main areas. These are: Contracting Energy Industry & Trade Tourism Land Development Seafood Products Three group companies are trading in the Istanbul Stock Exchange . These are: NAME OF THE COMPANY ISE FREE PAID IN CAPITAL MARKET SY
Slide 4: Alarko Holding Shareholder Structure & Participations
Alarko Holding Shareholder Structure & Participations * Consolidation Method ALSIM (100%) - Contracting Full HAVE 69.3% PARTICIPATION IN ALARKO CARRIER (43%) – Industry & Trade Proportional ALARKO REIT (51%) – Full FOUNDER ALARKO Land Development FAMILIES HOLDING ATTAS (100%) - Tourism Full Garih Fa
Slide 5: Alarko Holding Consolidated IFRS Financials
Alarko Holding Consolidated IFRS Financials (US$ Million) Selected Figures 31.12.2008 31.12.2009 31.12.2010 30.09.2011 Revenues 550 594 773 506 Operational Profit -11 31 27 61 Net Profit 36 33 26 55 Cash & Financial Inv. (1) 372 333 330 314 Financial Liabilities (2) 82 202 183 162 Net Cash Position
Slide 6: Alsim Alarko Contracting Group
Alsim Alarko Contracting Contracting Group 6
Slide 7: Contracting
Contracting The Alarko contracting group ALSĐM mainly focuses on large scale infrastructure and superstructure tenders offered by, •the central government, •local municipalities •other local and international institutions, in Turkey and abroad. We bid for domestic projects with Turkish Treasury Guar
Slide 8: Contracting - Backlog
Contracting - Backlog Projects On Hand Partners Location Volume Alarko's Completion Construction Backlog 21.10.2011 (US$ Million) Portion (%) % Period (US$ Million) IN TURKEY TAKSIM - YENIKAPI SUBWAY PROJ. ALARKO - HYUNDAI ISTANBUL 283 54 53,9 2007 2012 70 LEVENT - AYAZAGA SUBWAY PROJ. ALARKO - MAKY
Slide 9: Contracting - Some Completed Projects
Contracting Some Completed Projects DOMESTIC INTERNATIONAL Water & Waste Water(W.W.) Treatment Plants: Water & Waste Water(W.W.) Treatment Plants: Tuzla Biological W.W. Treatment Plant Đstanbul Oran Arzew Industrial Zone Desalination & Power Plant Algeria Yarımca Petroleum Refinery W.W. Treatment Pl
Slide 10: Contracting - Main Competitors
Contracting MAIN COMPETITORS DOMESTIC GLOBAL ENKA YAPI MERKEZĐ J&P L.L.C. -Oman TODINI -Italy IMPREGLIO-Italy GAMA DOĞUŞ SALINI -Italy ASTALDI -Italy BECHTEL -USA HOCHTIEF - STRABAG - TEKFEN YÜKSEL OHL -Spain Germany Austria CONSOLIDATED CONTRACTORS - LARSEN & NUROL Greece TOUBRO -India MAIN JV PART
Slide 11: Contracting Consolidated IFRS Financials
Contracting* Consolidated IFRS Financials (US$ Million) Selected Figures 31.12.2008 31.12.2009 31.12.2010 30.09.2011 Revenues 380 360 267 101 Operational Profit -43 22 21 2 Net Profit -3 33 24 23 Cash & Financial Inv. (1) 212 161 178 140 Financial Liabilities (2) 64 21 55 47 Net Cash Position (1-2)
Slide 12: Contracting - Backlog
Contracting - Backlog Projects On Hand Description IN TURKEY TAKSIM - YENIKAPI Construction of four Stations + Underground Railway + Signalization Systems + Installation of SUBWAY PROJECT Electromechanical Systems. The project is financed with a syndication loan guaranteed by the Turkish Treasury. T
Slide 13: Contracting - Backlog
Contracting - Backlog Projects On Hand Description IN TURKEY KARAKUZ HYDROELECTRIC The project comprises the construction of a 76 MW hydroelectric power plant in Seyhan POWER PLANT Korkun basin of Adana. ABROAD BORYSPIL AIRPORT PROJECT Alsim Alarko has undertaken the development project of Boryspil
Slide 14: Altek Alarko Energy Group
BerdanHydroelectric Altek Alarko Power Plant, Mersin-Turkey Tohma Hydroelectric Power Plant, Malatya-Turkey Energy Group Kırklareli I and II Gas Fired Combined Cycle Power Plants, Kırklareli - Turkey Energy 14
Slide 15: Energy
Energy The energy generation company, ALTEK, generates electrical energy, with 4 production units; 2 hydroelectric and 2 natural gas power plants, with total 187 MW generation capacity. EXISTING / NEW POWER STARTUP CONCESSION / TOTAL INVESTMENT COST POWER PLANTS - ALTEK (MW) LICENCE PERIOD (US$ Mill
Slide 16: Energy - New Power Plant Projects
Energy NEW POWER PLANT PROJECTS Karakuz Hydroelectric Power Plant – Karakuz / Adana (ALTEK) Total capacity is 76 MW, total investment amount of US$ 100 million. Our licence is valid for 49 years starting at 2006, and has been granted by EPDK (Energy Market Regulatory Authority) after winning the ten
Slide 17: Meram Electricity Distribution Company
MERAM ELECTRICITY DISTRIBUTION COMPANY Our partnership ALCEN Energy Distribution and Retail Sale Services Co. has taken over Meram Electricity Distribution Co. as of 30.10.2009, by paying USD 440Mn privatization value upfront. Alarko Share in ALCEN is 50% and the remaining 50% is owned by Cengiz Gro
Slide 18: Energy Consolidated IFRS Financials
Energy Consolidated IFRS Financials (US$ Million) Selected Figures* 31.12.2008 31.12.2009 31.12.2010 30.09.2011 Revenues 47 118 385 310 Operational Profit 11,5 12,4 7,2 50 Net Profit 8,4 5,7 0,8 27 Cash & Financial Inv. (1) 6,4 21 13,4 44 Financial Liabilities (2) 15 181 128 114 Net Cash Position (1
Slide 19: Alarko Carrier Industry & Trade Group
Alarko Carrier Industry & Trade Group Alarko Carrier Gebze Complex, Kocaeli-Turkey Industry & Trade 19
Slide 20: Industry & Trade
Industry & Trade Alarko Carrier; Is a major heating & cooling products manufacturer, with two production plants in Istanbul. The foundations were laid in 1954. Formed an equal-share partnership with Carrier in 1998, a subsidiary of United Technology Corporation-USA. Is a solid company with stable re
Slide 21: Industry & Trade - Major Products
Industry & Trade MAJOR PRODUCTS Centralized Heating and Cooling Systems Split AC Units Fan Coil Units Air Handling Units Panel Radiators Roof Top AC Units Oil and Gas Burners Submersible Pumps and Motors Boilers & Circulation Pumps Water Boosters MAJOR EXPORT PRODUCTS MAJOR EXPORT MARKETS Panel Radi
Slide 22: Industry & Trade - Main Competitors
Industry & Trade Main Competitors Heating Baymak / BAXI Group UK ECA Türk Demir Döküm (subsidiary of Vaillant) Vaillant (Germany) Air Conditioning Arçelik Beko (subsidiary of Arçelik) Vestel Pumps Grundfoss (Denmark) Wilo (Germany) 22
Slide 23: Industry & Trade Consolidated IFRS Financials
Industry & Trade Consolidated IFRS Financials (US$ Million) Selected Figures* 31.12.2008 31.12.2009 31.12.2010 30.09.2011 Revenues 79 68 70 55 Operational Profit 5,3 1,5 1 11 Net Profit 7,6 3,3 2,4 11 Cash & Financial Inv. (1) 13 21 24 23 Financial Liabilities (2) 2,8 - - - Net Cash Position (1-2) 1
Slide 24: Attaş Alarko Tourism Group
Hillside Beach Club, Hillside Beach Club, Hillside City Club, Etiler, Hillside Su Hotel, Fethiye-Turkey Fethiye-Turkey Đstanbul-Turkey Antalya-Turkey Attaş Alarko Wings Cinecity, Đstanbul-Turkey Tourism Group Hillside City Club, Đstinye, Đstanbul-Turkey Hillside Su Hotel Beach, Antalya-Turkey Touris
Slide 25: Tourism
Tourism The Tourism Group, ATTAŞ, owns and operates city clubs and hotels in Turkey, under the brand name, “Hillside” and targets to grow in leisure industry by means of new investments, acquisitions, management contracts; adding new premium quality hotels, sports clubs, SPAs and other complementary
Slide 26: Tourism
Tourism Hillside Su Hotel Five-star hotel Located in south of Turkey, in Antalya city center, by the sea 294 rooms / 592 bed capacity Operates all around the year Has unique architectural design Rate of occupancy: Approximately 66% in 2009 and 2010 2. SPORTS AND RECREATION CENTERS Three Hillside Cit
Slide 27: Turkish Tourism Sector
Turkish Tourism Sector 30 30 ( U S $ B ill io n ) 25 25 V is it o r s ) ( M i lli o n 20 20 15 15 10 10 5 5 - - 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011/9 Tourism Revenues (left axis) Tourist Arrivals (right axis) *2011 data belongs to January-September 2011 27
Slide 28: Tourism Consolidated IFRS Financials
Tourism Consolidated IFRS Financials (US$ Million) Selected Figures 31.12.2008 31.12.2009 31.12.2010 30.09.2011 Revenues 36 39 40 31 Operational Profit -1,2 -1,4 -0,6 1,8 Net Profit -1,1 -0,8 -0,2 1,4 Cash & Financial Inv. (1) 4,6 6,8 6,1 8,5 Financial Liabilities (2) 0,3 0,1 0,1 0,1 Net Cash Positi
Slide 29: Alarko REIT Land Development Group
Alarko REIT Land Development Group Alkent Istanbul 2000 Büyükçekmece, Istanbul-Turkey Land Development 29
Slide 30: Land Development
Land Development The Land Development Group; Operates as a developer of mainly residential projects. Designs and builds high-quality communities such as villas and condominiums. Mainly targets middle-upper and upper-income clients. Negotiates the contracts with landowners on a profit-sharing basis.
Slide 31: Land Development - Projects
Land Development ON-GOING PROJECT Revenue (US$ Million) 1) Alkent Istanbul 2000 "Lake Mansions" - 3rd Phase 63 villas 50 COMPLETED PROJECTS Revenue (US$ Million) 1) Alkent - Etiler 640 condominium units 160 2) Alkent Istanbul 2000 - B.Cekmece 800 villas + condominium units 500 3) Alsit Bosphorus - S
Slide 32: Alarko Deyaar Real Estate Development Co.
Land Development Alarko Deyaar Real Estate Development Co. We have formed Alarko Deyaar Real Estate Development Co. as an equal-share partnership between Alarko Holding and Deyaar Development PJSC which is a United Arab Emirates (Dubai) based company. Alarko Holding has injected two lands which are
Slide 33: Alarko Real Estate Investment Trust
Land Development Alarko Real Estate Investment Trust (Alarko REIT) Is the first real estate investment trust in Turkey IPO was made in the beginning of 1997. Is a tax-exempt company. Generates rental revenue, approximately US$ 4,5 - 5 million per year. Is currently developing 63 Lake Mansions in Büy
Slide 34: Portfolio Value of Alarko REIT
Land Development Portfolio Value of ALARKO REIT US$ Thousand 31.12.2010 30.09.2011 CASH AND MARKETABLE SECURITIES 83.201 68.360 REAL ESTATE PORTFOLIO 92.176 86.692 Land in Maslak, Istanbul 21.465 17.984 Land in Eskice Village, Buyukcekmece - Istanbul 7.231 5.946 Alkent Istanbul 2000 Investments 16.3
Slide 35: Alfarm Alarko Leröy Seafood Products Group
Alfarm Alarko Leröy Alfarm Factory, Izmit-Turkey Seafood Products Group Seafood Products 35
Slide 36: Seafood Products
Seafood Products The Seafood Products Group, ALFARM was founded in 1991. Formed an equal-share partnership with Norwegian Leroy Seafood Group ASA in 2005. This partnership has created synergy and growth opportunities. Alfarm imports seafood products and processes them in its production plant in Đzmi
Slide 37: Seafood Products Consolidated IFRS Financials
Seafood Products Consolidated IFRS Financials (US$ Million) Selected Figures* 31.12.2008 31.12.2009 31.12.2010 30.09.2011 Revenues 7,8 8,8 10,9 8,8 Operational Profit 0,6 0,7 0,5 0,6 Net Profit 0,6 0,6 0,5 0,5 Cash & Financial Inv. (1) 0,5 0,7 1,1 0,74 Financial Liabilities (2) 0,02 - 0,18 0,12 Net
Slide 38: Alarko Holding Consolidated Balance Sheet as of 30.09.2011
Alarko Holding Inc. CONS OLIDATED BALANCE S HEET AS OF 30.09.2011 (US D) ASSETS LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT ASSETS 652.341.886 SHORT TERM LIABILITIES 267.943.713 A. Cash and Cash Equivalents 224.004.566 A. Financial Liabilities 32.750.542 B. Financial Investments 90.118.924 B. Other
Slide 39: Alarko Holding Consolidated Statement of Income
Alarko Holding Inc. CONSOLIDATED STATEMENT OF INCOME (USD) 31.12.2008 31.12.2009 31.12.2010 30.09.2011 CONTINUED OPERATIONS Income From Sales 550.065.418 594.077.478 773.447.541 506.234.688 Cost of Sales (-) (530.264.649) (490.336.818) (661.509.013) (390.194.180) GROSS PROFIT/(LOSS) 19.800.768 103.7
Slide 40: Statement of Income by Group of Companies, 30.09.2011
Alarko Holding Inc. S TATEMENT OF INCOME ACCORDING TO GROUP OF COMPANIES AS OF 30.09.2011 USD INDUSTRY & CONTRACTING HOLDING TOURISM TRADE ENERGY & LAND DEV. SEAFOOD ELIMINATION TOTAL CONTINUED OPERATIONS Income From Sales (Out of Group net) 698.921 31.021.788 54.646.079 310.183.797 100.909.919 8.77
Slide 41: Statement of Income by Group of Companies, 31.12.2010
Alarko Holding Inc. S TATEMENT OF INCOME ACCORDING TO GROUP OF COMPANIES AS OF 31.12.2010 USD INDUSTRY & CONTRACTING HOLDING TOURISM TRADE ENERGY & LAND DEV. SEAFOOD ELIMINATION TOTAL CONTINUED OPERATIONS Income From Sales (Out of Group net) 580.307 40.121.827 69.904.195 384.580.633 267.369.917 10.8
Slide 42: Statement of Income by Group of Companies, 31.12.2009
Alarko Holding Inc. S TATEMENT OF INCOME ACCORDING TO GROUP OF COMPANIES AS OF 31.12.2009 USD INDUSTRY & CONTRACTING HOLDING TOURISM TRADE ENERGY & LAND DEV. SEAFOOD ELIMINATION TOTAL CONTINUED OPERATIONS Income From Sales (Out of Group net) 807.559 38.697.483 68.086.954 117.810.902 359.882.362 8.79
Slide 43: Alarko Carrier Statement of Income
Alarko Carrier Inc. STATEMENT OF INCOME (USD) 31.12.2009 31.12.2010 30.09.2011 CONTINUED OPERATIONS Income From Sales 156.278.478 161.375.780 126.473.615 Cost of Sales (-) (118.414.733) (124.929.667) (92.797.693) GROSS PROFIT/(LOSS) 37.863.745 36.446.113 33.675.922 Marketing, Sales & Distribution Ex
Slide 44: Alarko REIT Statement of Income
Alarko REIT Inc. STATEMENT OF INCOME (USD) 31.12.2009 31.12.2010 30.09.2011 CONTINUED OPERATIONS Income From Sales 18.032.553 5.291.523 9.538.320 Cost of Sales (-) (13.571.059) (1.657.978) (5.935.613) GROSS PROFIT/(LOSS) 4.461.494 3.633.545 3.602.707 Marketing, Sales & Distribution Expenses (-) - -
Slide 45: Corporate Communication
Corporate Communication For Further Information: http://www.alarko.com.tr info@alarko.com.tr Ömer Çelik Senior Vice President Finance & IR omer.celik@alarko.com.tr Tel: +90 (212) 227 52 00 45
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