Aksa Enerji Uretim A.s. · BIST:AKSEN
Aksa Enerji Uretim A.s — 9M 2022 Earnings Presentation
17 slides from Aksa Enerji Uretim A.s's earnings presentation, Nov 7, 2022
Slide 1: 9M 2022 Earnings Presentation
9M 2022 Earnings Presentation 7 Nov 2022
Slide 2: Key Highlights – 9M22
FINANCIAL LEVERAGE AT ALL TIME LOW WITH 1.1x Key Highlights – 9M22 TL million 3Q22 3Q21 q/q Quarterly- 3Q22 vs 3Q21 Net Sales 15,161 3,559 326% EBITDA 1,975 644 207% Net Income 1,454 325 347% (1) Net Financial Debt 6,966 4,545 53% 9M22 9M21 y/y Cumulative-9M22 Net Sales 33,730 8,323 305% EBITDA 5,29
Slide 3: Regional Breakdown
FOREIGN OPERATIONS’ CONTRIBUTION TO EBITDA AT 49% Regional Breakdown TL million Domestic Foreign Share of Foreign 9% Quarterly- 3Q22 Net Sales 13,846 1,316 50% EBITDA 982 993 56% Profit Before Tax 801 1,017 TL million Domestic Foreign Share of Foreign 10% Cumulative-9M22 Net Sales 30,422 3,308 49% E
Slide 4: Regional Breakdown
HIGHER SPOT PRICES IN TURKEY ACCOMPANIED BY FX BASED TARIFFS IN FOREIGN OPERATIONS Regional Breakdown Domestic Foreign Total Quarterly- 3Q22 Sales Volume (GWh) 5,683 1,380 7,063 Sales Price (TL/MWh) 2,750 1,046 2,417 Domestic Foreign Total Cumulative- 9M22 Sales Volume (GWh) 15,667 3,329 18,996 Sale
Slide 5: Sales Channel Breakdown
STRONG RECOVERY IN DOMESTIC SALES PRICES Sales Channel Breakdown Net Sales Volume by Channel (9M22) Sales Price by Channel (TL/MWh) 2.792 3% 2.324 467 2.186 18% 2.023 3,329 GWh GWh 1.828 48% 1.104 1.071 2,891 GWh 16% 450 486 401 8,696 2,618 GWh GWh Northern BSM (Spot Affiliated DisCo OTC&Bilateral F
Slide 6: Bolu PP Key Highlights
3Q22 SALES PRICE AVERAGE STILL ABOVE 2021 LEVELS DESPITE PRICE CAP MECHANISM Bolu PP Key Highlights Energy Source: Lignite Coal Installed Capacity: 270 MW Generation (Gross): 1,581 GWh (9M22) CUR: 89% (9M22) / 86% (3Q22) Capacity Payment: 26 MM TL (9M22) Sales Composition: 66% Day Ahead Market, 34%
Slide 7: Antalya PP Key Highlights
ACTIVE PRESENCE IN SECONDARY FREQUENCY CONTROL MECHANISM Antalya PP Key Highlights Energy Source: Natural Gas Installed Capacity: 900 MW Generation (Gross): 2,892 GWh (9M22) Capacity Payment: 106 MM TL (9M22) CUR: 54% (9M22) / 60% (3Q22) Adjusted CUR (*): 69% (9M22) • Base load power plant with high
Slide 8: Şanlıurfa PP Key Highlights
EFFECTIVE UTILIZATION OF ANCILIARY SERVICES Şanlıurfa PP Key Highlights Energy Source: Natural Gas Installed Capacity: 147 MW Generation (Gross): 171 GWh (9M22) CUR: 20% (9M22) / 12% (3Q22) Adjusted CUR (*): 35% (9M22) • Şanlıurfa Power Plant resumed its operations from Aug’21 onwards driven by favo
Slide 9: Northern Cyprus PP Key Highlights
USD BASED CAPACITY CHARGE SUPPORTIVE OF MARGINS Northern Cyprus PP Key Highlights Energy Source: Fuel Oil Installed Capacity: 153 MW Generation (Gross): 475 GWh (9M22) CUR: 47% (9M22) / 56% (3Q22) PPA Price: 2,792 TL/MWh (9M22) Contract Expiry: 2024 (+3 year extension option) • Northern Cyprus PP be
Slide 10: Africa Operations - Key Highlights
FUEL IS PASS THROUGH IN ALL OF OUR OVERSEAS OPERATIONS Africa Operations - Key Highlights • Ghana PP benefits from USD based guaranteed capacity charge for 332 MW out of 370 MW installed capacity. PPA extended for 15 years in Oct’22 • On top of that, PP generates revenues from routine sales activity
Slide 11: Uzbekistan Operations - Key Highlights
SIGNIFICANT CONTRIBUTION FROM UZBEKISTAN Uzbekistan Operations - Key Highlights • 25 year power purchase agreement (PPA) including guaranteed capacity payment in USD terms signed with the Ministry of Energy of Uzbekistan on May’20 regarding 240 MW natural gas combined cycle (CCGT) power plant in Tas
Slide 12: Kazakhstan Project - Key Highlights
240 MW COMBINED HEAT AND POWER PLANT TENDER WON Kazakhstan Project - Key Highlights • On 13 July 2022, Aksa Energy's Kazakhstan branch has won the tender organized by Kazakhstan Electricity and Power Market Operator regarding 240 MW Kyzykorda combined heat and power plant project • Power plant is ex
Slide 13: Congo Project - Key Highlights
100 MW GAS POWER PLANT’S OPERATING RIGHTS OBTAINED IN JAN’21 Congo Project - Key Highlights • On 21 January 2021, Aksa Enerji Üretim A.Ş.’s 100% subsidiary Aksa Energy Company Congo has signed a concession agreement with Republic of Congo about obtaining operating rights of a 50 MW natural gas power
Slide 14: Consolidated Summary Income Statement
ANNEX Consolidated Summary Income Statement 9M22 9M21 y/y MM TL Net sales 33,730 8,323 305% Cost of sales (29,276) (6,863) 327% Gross Profit 4,454 1,460 205% General & administrative costs (193) (87) 121% Marketing expenses (8) (4) 90% Other operating income 144 12 1102% Other operating expenses (11
Slide 15: Consolidated Summary Balance Sheet
ANNEX Consolidated Summary Balance Sheet 9M22 YE21 ytd MM TL Cash and cash equivalents 844 525 61% Trade receivables 9,010 5,328 69% Inventories 299 225 33% Total Current Assets 11,139 7,129 56% PP&E 17,105 13,038 31% Intangibles 289 222 30% Total Non-current Assets 17,734 13,520 31% Total Assets 28
Slide 16: Contact- Investor Relations
Contact- Investor Relations Pınar SAATCIOĞLU Head of Investor Relations pinar.saatcioglu@aksa.com.tr +90 216 681 1053 Rüzgarlıbahçe Mh. Özalp Çıkmazı No:10 Kavacık / Beykoz, Istanbul 16
Slide 17: 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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