Aksa Enerji Uretim A.s. · BIST:AKSEN
Aksa Enerji Uretim A.s — FY2020 Earnings Presentation
16 slides from Aksa Enerji Uretim A.s's earnings presentation, Feb 26, 2021
Slide 1: 2020 YE Earnings Presentation
2020 YE Earnings Presentation 26 February 2021
Slide 2: Key Highlights – YE20
2020 TARGETS ACHIEVED IN SUCH A CHALLENGING ENVIRONMENT… Key Highlights – YE20 TL million 4Q20 4Q19 y/y Quarterly- 4Q20 Net Sales 1,963 1,779 10% EBITDA 408 364 12% Net Income 115 155 -26% Net Financial Debt 2,632 3,142 -16% YE20 YE19 y/y Cumulative-YE20 Net Sales 7,231 5,579 30% EBITDA 1,497 1,467
Slide 3: Regional Breakdown
FOREIGN OPERATIONS’ CONTRIBUTION TO EBITDA AT A HIGH 66% Regional Breakdown TL million Domestic Foreign Share of Foreign 20% Quarterly- 4Q20 Net Sales 1,570 393 EBITDA 143 265 65% Profit Before Tax 68 138 67% TL million Domestic Foreign Share of Foreign Cumulative-YE20 20% Net Sales 5,772 1,458 EBIT
Slide 4: Regional Breakdown
FX BASED PRICE TARIFFS IN AFRICA AND NORTHERN CYPRUS SUPPORTIVE OF OPERATIONS Regional Breakdown Domestic Foreign Total Quarterly- 4Q20 Sales Volume (GWh) 5,124 228 5,352 Sales Price (TL/MWh) 342 1,726 401 Domestic Foreign Total Cumulative-YE20 Sales Volume (GWh) 20,214 924 21,138 Sales Price (TL/MW
Slide 5: Sales Channel Breakdown
TURKISH MARKET DRIVING VOLUME, AFRICAN MARKET DRIVING MARGINS.. Sales Channel Breakdown Sales Volume by Channel (YE20) Sales Price by Channel (TL/MWh) 1,643 4% 3% 702 1,297 924 GWh GWh 30% 741 759 6,246 GWh 55% 271 313 258 276 246 303 1,609 11,656 GWh GWh 8% Northern BSM (Spot Affiliated DisCo OTC&B
Slide 6: Bolu PP Key Highlights
MEETING 1% OF TURKEY’S POWER DEMAND Bolu PP Key Highlights Energy Source: Lignite Coal Installed Capacity: 270 MW Generation: 2,066 GWh (YE20) CUR: 87% (YE20) Capacity Payment: 60 MM TL (YE20) EÜAŞ Lignite PPA Price: 385 TL/MWh (4Q20) • Bolu PP sold 75% of its generation to EÜAŞ (state- Sales Compos
Slide 7: Antalya PP Key Highlights
BASE LOAD POWER PLANT WITH SUPPORT FROM CAPACITY PAYMENTS Antalya PP Key Highlights Energy Source: Natural Gas Installed Capacity: 900 MW Generation: 2,935 GWh (YE20) Capacity Payment: 76 MM TL (YE20) CUR: 42% (YE20) • Base load power plant with high efficiency ratio of 59% • 4Q20 power generation l
Slide 8: Şanlıurfa PP Key Highlights
SUSPENSION OF OPERATIONS SINCE AUG’20 Şanlıurfa PP Key Highlights Energy Source: Natural Gas Installed Capacity: 147 MW Generation: 96 GWh CUR: 9% • Şanlıurfa PP operations were suspended in Aug’20 due to high transmission costs • 90% of transmission cost saving was achieved 8
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: 715 GWh CUR: 53% PPA Price: 759 TL/MWh (YE20) Contract Expiry: 2027 • Northern Cyprus PP benefits from USD based guaranteed capacity charge for 120 MW out
Slide 10: Overseas Operations Key Highlights
LONG TERM INVESTMENT PLANS ON TRACK Overseas Operations Key Highlights • Ghana PP benefits from USD based guaranteed capacity charge for 332 MW out of 370 MW installed capacity • On top of that, PP generates revenues from routine sales activity via spot market • Ghana engine conversion to dual fuel
Slide 11: Uzbekistan Project - Key Highlights
740 MW POWER PLANTS IN UZBEKISTAN TO BE OPERATIONAL BY 2021 YE Uzbekistan Project - Key Highlights • 25 year power purchase agreement (PPA) including guaranteed capacity payment in USD terms signed with the Ministry of Energy of Uzbekistan on TO BE COMPLETED IN 12 MONTHS May’20 regarding 240 MW natu
Slide 12: 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 13: Consolidated Summary Income Statement
ANNEX Consolidated Summary Income Statement 2020 2019 y/y MM TL Net sales 7,231 5,579 30% Cost of sales (6,033) (4,563) 32% Gross Profit 1,198 1,015 18% General & administrative costs (117) (96) 23% Marketing expenses (10) (2) n.m. Other operating income 14 67 -79% Other operating expenses (42) (10)
Slide 14: Consolidated Summary Balance Sheet
ANNEX Consolidated Summary Balance Sheet 2020 2019 ytd MM TL Cash and cash equivalents 314 122 159% Trade receivables 2,706 1,933 40% Inventories 138 284 -51% Total Current Assets 3,464 2,684 29% PP&E 5,655 5,499 3% Intangibles 116 99 17% Total Non-current Assets 6,039 5,817 4% Total Assets 9,503 8,
Slide 15: Contact- Investor Relations
Contact- Investor Relations Pınar SAATCIOĞLU Head of Investor Relations and Corporate Communications pinar.saatcioglu@aksa.com.tr +90 216 681 1053 Rüzgarlıbahçe Mh. Özalp Çıkmazı No:10 Kavacık / Beykoz, Istanbul 15
Slide 16: 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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