Tekfen Holding Anonim Sirketi · BIST:TKFEN
Tekfen Holding Anonim Sirketi — Tekfen Holding — Investor Presentation (May 2021)
79 slides from Tekfen Holding Anonim Sirketi's investor presentation, May 2021
Slide 1: Tekfen Holding Investor Presentation May 2021
Tekfen Holding Investor Presentation May 2021
Slide 2: Tekfen Group At a glance
Tekfen Group At a glance 1956 Feyyaz Berker, 1970 Foundation of 1981 Toros Fertilizer 2000 Tekfen Real Estate 2007 Partnership with 2012 Sale of Eurobank Nihat Gökyiğit and Tekfen Manufacturing starts production Development Group Eurobank EFG in Tekfen Necati Akçağlılar formed Tekfenbank an engineer
Slide 3: Corporate Governance
Tekfen Group Corporate Governance Ownership structure Share Classes Akçağlılar, Others, 6.7% Single type of shares (one share one vote) 0.8% Free Float, Berker, 47.8% Composition of the Board 22.6% 4 out of 11 members are independent. Board members to be elected for max. of three years Dividends 30%
Slide 4: Tekfen Group At a glance
Tekfen Group At a glance Engineering & Chemical Agricultural Contracting Industry Production Services Investment Main Operations Main Operations Main Operations Main Operations Main Operations Construction Fertilizer production Seed, sapling and Terminal services Venture Capital Engineering and dist
Slide 5: Tekfen's Sustainability Vision
Tekfen Group Tekfen’s Sustainability Vision ➢ Tekfen’s sustainability vision is conceptually embodied in the group’s “Bridging Prosperity” motto. The primary goals of all economic activity are to increase social wellbeing and to improve the quality of life of the individuals who make up a society. T
Slide 6: Tekfen's Sustainability Vision
Tekfen Group Tekfen’s Sustainability Vision ➢ Tekfen Holding’s publicly-traded shares are included in the Istanbul Stock Exchange’s BIST 30 index. Owing to the company’s successful corporate governance, environment, and social-welfare performance, Tekfen Holding’s shares have been included in the BI
Slide 7: Human resources
Tekfen Group Human resources Number of employees (breakdown by segment) 19,180 18,296 17,094 15,514 450 14,295 488 13,878 474 13,234 1,140 867 1,112 870 502 1,398 817 1,033 1,102 1,020 1,058 17,539 16,696 13,614 11,988 11,359 12,691 15,222 2013 2014 2015 2016 2017 2018 2019 Contracting Agri Industry
Slide 8: Engineering & Contracting
ENGINEERING & CONTRACTING
Slide 9: Engineering & Contracting Overview
Engineering & Contracting Overview ✓ Founded in 1956 as an engineering and consultancy firm. ✓ One of the largest contracting groups in Turkey. ✓ Main area of specialization is construction projects in the oil and gas industry. ✓ Is among the leading international construction companies in the world
Slide 10: EPC Turnkey Delivery
Engineering & Contracting Group EPC Turnkey Delivery ➢ EPC (also commissioning, start-up, operational support & training) ➢ EPC-F ➢ EPCM Manufacturing of Turnkey Design & Export Finance Process & Storage Engineering Construction & Procurement Equipment ➢ Engineering ➢ Lump Sum Turnkey ➢ Procurement
Slide 11: Selected International Project Partners
Engineering & Contracting Selected International Project Partners Mitsubishi Corp., ABB, UK Flour, USA Technip, France Japan Air Liquide, General Electric, Parsons Inc., Tecnicas France USA USA Reunidas, Spain ILF Consulting, Toyo Eng., Alstom, France Petrofac, UAE Austria Japan Wood (formerly Uhde
Slide 12: Selected Clients
Engineering & Contracting Selected Clients TURKEY SAUDI ARABIA QATAR AZERBAIJAN KAZAKHSTAN KUWAIT TÜPRAŞ (Turkish ASHGHAL, Petroleum KOC, Kuwait Oil Saudi Aramco Ministry of Public BP Exploration Tengizchevroil Refineries Company Works Corporation) BOTAŞ (Petroleum Ma’aden, Saudi Ministry of Public
Slide 13: Manpower
Engineering & Contracting Manpower Total Manpower: 16.567* TURKEY: 2.212 ABROAD: 14.355 Iraq 281 Saudi Arabia 3,766 Russia 6 Qatar 4,077 Kazakhstan 2,639 Turkmenistan 3 Cezayir 1 Morocco 5 Azerbaijan 3,577 * As of 2019-end including subcontractors. 13 Tekfen Group Engineering Chemical Agricultural S
Slide 14: Areas of Expertise
Engineering & Contracting Areas of Expertise BASIC DETAILED PROCUREMENT FABRICATION CONSTRUCTION START UP ENGINEERING* ENGINEERING E E+P E+P+F E+P+C PMS E : Engineering F : Fabrication P : Procurement PMS : Project Management Services C : Construction * In pipelines, tank farms / terminals, motorway
Slide 15: Manpower Structure
Engineering & Contracting Manpower Structure DISIPLINE & DIVISION ENGINEERS 445 2.69% NATIONALITY MANAGEMENT 222 1.34% TURKISH 10,366 62.57% PROCUREMENT 91 0.55% AZERBEIJANI 1,100 6.64% ADMIN 148 0.89% TURKMEN 3 0.02% QA&QC/HSE 113 0.68% MOROCCAN 11 0.07% TECHNICIANS 24 0.14% 264 1.59% INDIAN FOREME
Slide 16: Business Areas
Engineering & Contracting Business Areas Refineries Oil & Gas Petrochemical Gas Compressor Storage Oil & Gas Equip. Pipelines Power Plants Complexes & Metering Tanks Platforms Manufacturing Stations Motorways Bridges Stadiums High-Rises Marine Metro & Tunnels Real Estate Terminals & Railways Jetties
Slide 17: Overview
Engineering & Contracting Overview Overview ➢ With its sister companies Tekfen Engineering, Tekfen Manufacturing, Hallesche Mitteldeutsche Bau-AG (HMB) (Germany), AZFEN (Azerbaijan) and strategic partnerships, Tekfen is positioned to extend its services to a large range of clients on three continent
Slide 18: Backlog Growth
Engineering & Contracting Backlog Growth Backlog (US$ million) - 31 December 2019 3,670 3,419 2,998 2,747 2,373 2,150 2,005 2,888 1,740 1,830 2,841 1,715 1,694 1,711 1,461 2,524 1,333 1,259 1,619 2,480 1,449 1,589 1,139 744 685 726 1,535 1,794 1,552 1,668 535 501 1,350 1,257 1,225 175 201 242 167 55
Slide 19: Backlog (as of December 2019)
Engineering & Contracting Backlog (as of 31 December 2019) Revenue Based Expected End Current Contract Remaining Amount Project Location Tekfen Portion Completion Dates Price (US$) Rate Provision of Civil / Structural Construction, Fabrication, Construction Services for BTC 31/12/2020 28,532,406 $ 2
Slide 20: Ongoing projects (as of December 2019)
Engineering & Contracting Ongoing projects (as of 31 December 2019) Backlog Breakdown by Regions Backlog Breakdown by Project Types Middle East 44% Industrial Facilities 34% Caspian Region 47% Pipelines 48% Turkey Transportation Buildings 8% 9% 10% Region US$ (million) Project Type US$ (million) Mid
Slide 21: Tekfen Engineering Co., Inc.
Engineering & Contracting Engineering Tekfen Engineering Co., Inc. ❖ Founded in 1984. ❖ The Largest Engineering Company in Turkey, in Oil & Gas ❖ Undertakes the engineering (E) of EPC projects and the detailed engineering in other projects of Tekfen Contracting Group. ❖ Has experience on a wide spec
Slide 22: Tekfen Manufacturing Co., Inc.
Engineering & Contracting Tekfen Manufacturing Co., Inc. ▪ Founded in 1970. ▪ Specialized mainly in engineering, manufacturing and construction of high quality process and storage equipment related to petroleum, petrochemical, chemical and fertilizer industries and power plants, such as cylindrical
Slide 23: Fabrication Plants
Engineering & Contracting Fabrication Plants Ceyhan Steel Structure Fabrication Plant Bayil Steel Construction Manufacturing Plant ✓ Spread on an area of 160,000 m2, of which 30,000 m 2 is ✓ Tekfen’s manufacturing facility in Baku, Azerbaijan covered, ✓ Spread on an area of 290,000 m2, of which 26,0
Slide 24: Revenues and EBITDA Margin
Engineering & Contracting Revenues and EBITDA Margin Revenues (TRYmn) and EBITDA Margin (%) 19.0% 10,539 11,000 13.2% 9,009 13.7% 8,922 14.0% 9,000 11.3% 11.0% 9.3% 9.3% 7,000 8.3% 7.6% 10.7% 9.0% 5.9% 4,862 5,000 7.2% 4.0% 2,768 2,824 3,000 2,395 2,327 2,153 1,864 1,029 1,319 1,339 1,111 0.8% -1.0%
Slide 25: Ongoing projects – Caspian Region
Engineering & Contracting Ongoing projects – Caspian Region AZERBAIJAN – THE NEW MANAGEMENT OFFICE OF MINISTRY OF TAXATION OF AZERBAIJAN One of the newest landmark of Baku, The New Management Office of Ministry of Taxation of Azerbaijan will be constructed by Tekfen Construction. Five monumental cub
Slide 26: Ongoing projects – Caspian Region
Engineering & Contracting Ongoing projects – Caspian Region Ministry of Taxation Overall View Ministry of Taxation Overall View Ministry of Taxation Overall View Ministry of Taxation Overall View Facade Facade 26 Tekfen Group Engineering Chemical Agricultural Services Investment www.tekfen.com.tr &
Slide 27: Ongoing projects - Middle East
Engineering & Contracting Ongoing projects - Middle East SAUDI ARABIA- JANBU-JEDDAH PIPELINE The purpose of the project is to efficiently meet the Kingdom’s refined product demands in Makkah Province. The turnkey construction of the 333 Km long 20" gasoline and 24" jet fuel pipeline system (YNJ-1 &
Slide 28: Ongoing projects - Middle East
Engineering & Contracting Ongoing projects - Middle East SAUDI ARABIA- HARADH & HAWIYAH FIELD SATELLITE GAS COMPRESSION SaGCP PIPELINES PROJECT Saudi Aramco is installing gas compression facilities at Haradh & Hawiyah Saudi Arabia under the Southern Area Energy Efficiency Program. The Program in Sou
Slide 29: Ongoing projects - Middle East
Engineering & Contracting Ongoing projects - Middle East QATAR – DESIGN AND BUILD OF AL KHOR EXSPRESSWAY The Project comprises the Design and Build of a 34 Km long expressway b/w Al Khor and Doha with a total of 10 lanes in both directions (five traffic lanes in each direction) and various junctions
Slide 30: Ongoing projects - Middle East
Engineering & Contracting Ongoing projects - Middle East Interchange A Interchange B Interchange C Interchange D Interchange E Interchange F Interchange G Interchange G1 Interchange H 30 Tekfen Group Engineering Chemical Agricultural Services Investment www.tekfen.com.tr & Contracting Industry Produ
Slide 31: Ongoing projects - Middle East
North Road Engineering & Contracting Qatar Ongoing projects - Middle East QATAR – AL THUMAMA STADIUM (THE FIFTH PRECINCT) Tekfen Construction & Al Jaber Engineering Joint Venture has been awarded by the Qatar Supreme Committee for Delivery and Legacy for the turnkey delivery of the engineering and c
Slide 32: Ongoing projects - Middle East
Engineering & Contracting Ongoing projects - Middle East Stadium 3D Render Overall Site View Roof Cable Works Façade Works Overall Site View Roof Cable Works Stadium Steel Structure Overall Site View Stadium Concrete Structure 32 Tekfen Group Engineering Chemical Agricultural Services Investment www
Slide 33: Real Estate Development - Completed Projects
Engineering & Contracting Real Estate Development - Completed Projects 1994 2003 2006 2008 Akmerkez Tekfen Tower Taksim Residences Yalıkavak Homes • First Mixed-use dev. in Turkey • Class A+ Office Building • Residential Project • Summer House & Boutique Hotel • 180,000 m² Construction Area • Locate
Slide 34: Real Estate Development - Projects
Engineering & Contracting Real Estate Development - Projects Estimated Revenue Project Start Date of End Date of Project (million) Function Project* Project Total/Tekfen Share Esenyurt Project Residential May.13 Dec.17 TRY661 Berlin Project* Residential Dec.18 Dec.21 €57.5 İzmir project land value (
Slide 35: Ongoing Projects
Engineering & Contracting Ongoing Projects HEP Istanbul Project Transaction Overview: • Developed on 56.800 m² land which was purchased in May 2013 • Project includes 1.424 residential and 25 retail units Total Project Size – (Revenues, TRY millions): 644 Tekfen Share : 100% Project Summary: • Total
Slide 36: Ongoing Projects
Engineering & Contracting Ongoing Projects Berlin Project Overview: ➢ On 21 December 2018, the Company has become the main shareholder with the purchase of 80% share in the renovation project of two historical buildings located in Dahlem district of Germany / Berlin, ➢After, the completion of prelim
Slide 37: Strategic Direction
Engineering & Contracting Strategic Direction Tekfen Engineering & Contracting Group consistently works on the following in line with the goals of its Strategic Plan: ✓ Existing and new projects will be undertaken within the framework of the adopted business principles and occupational health, safet
Slide 38: Chemical Industry
Tekfen Group Chemical Industry Tekfen Group Engineering & Chemical Agricultural Services Investment www.tekfen.com.tr Contracting Industry Production
Slide 39: Chemical Industry Overview
Chemical Industry Overview ✓ Symbol of “quality” and “trust” ✓ In business since 1981 under TOROS brand name ✓ Almost 1,000 employees ✓ Supplying every type of fertilizer Turkish farmers need ✓ Market leader since 1986 ✓ Vast dealers network with over 1,200 dealers ✓ Marketing and Sales Team located
Slide 40: Chemical Industry Overview
Chemical Industry Overview → Active in fertilizer production and distribution → Chemical industry turnover of TRY 3,439 million and EBITDA of TRY 460 million as of 2019 Turnover EBITDA Breakdown 3,439 496 460 2,664 348 TRY Million TRY Million 2,069 1,715 1,536 1,541 1,354 206 204 87 73 2013 2014 201
Slide 41: Regional Offices & Other Units
Chemical Industry Regional Offices & Other Units TEKİRDAĞ ANKARA SAMSUN İSTANBUL REGIONAL OFFICE REGIONAL OFFICE REGIONAL OFFICE Head Office Warehouse Warehouse Warehouse ŞANLIURFA REGIONAL OFFICE İZMİR Warehouse REGIONAL OFFICE Warehouse Grain Silos Seed Processing ADANA & CEYHAN REGIONAL OFFICE Ba
Slide 42: Regional Offices & Other Units
Chemical Industry Regional Offices & Other Units UKRAINE COUNTRY OFFICE TOROS-AGROPORT 42 Tekfen Group Engineering & Chemical Agricultural Services Investment www.tekfen.com.tr Contracting Industry Production
Slide 43: Fertilizers – Product Types
Chemical Industry Fertilizers – Product Types ➢ Nitrogen fertilizers: ➢ Phospate & Compound fertilizers (NPs and NPKs): ▪ AN26 (CAN) - Calcium Ammonium Nitrate ▪ DAP - Di-Ammonium Phosphate ▪ AN33 - Ammonium Nitrate ▪ NP 20.20 ▪ AS - Ammonium Sulphate ▪ NP 20.20+Zn ▪ Urea ▪ NPK 15.15.15 ▪ NPK 15.15.
Slide 44: Fertilizers – Sales
Chemical Industry Fertilizers – Sales AN26 22% NP/NPK AN26 22% NP/NPK (Compound) (Compound) 39% 39% AN33 8% AN33 10% AS 5% AS 5% Urea 12% Urea 12% DAP 12% DAP 11% Ultra Nitrogen 1% 44 Tekfen Group Engineering & Chemical Agricultural Services Investment www.tekfen.com.tr Contracting Industry Producti
Slide 45: Fertilizers – Leader in Turkish Fertilizer Market
Chemical Industry Fertilizers – Leader in Turkish Fertilizer Market Consumption and Toros Sales Volume/Market share Turkey’s Total Production and Toros’ Share 7,000 31% 31% 31% 5,000 42% 41% 43% 27% 29% 31% 40% 6,000 27% 4,000 39% 39% 39% 40% 5,000 26% 28% 1000 tons 26% 1000 tons 28% 3,000 37% 4,000
Slide 46: Fertilizers – Production Facilities
Chemical Industry Fertilizers – Production Facilities ✓ Three chemical fertilizer plants located in Mersin, Ceyhan and Samsun ✓ One organic/organomineral fertilizer plant located in Balikesir ✓ One water soluable fertilizer plant located in Mersin ✓ Total installed capacity is 2 million tpa of which
Slide 47: Fertilizers – Production Capacity
Chemical Industry Fertilizers – Production Capacity MERSIN PLANT CEYHAN PLANT SAMSUN PLANT AN and CAN production NPK and DAP production NPK and DAP production CAPACITY CAPACITY CAPACITY 660,000 tpa CAN 2 x 330,000 tpa NPK 330,000 tpa NPK or 325,000 tpa DAP NITRIC ACID CAPACITY 330,000 tpa NPK & 200,
Slide 48: Fertilizers - Integration Investments
Chemical Industry Fertilizers - Integration Investments Place: Samsun Plant Scope: Sulphuric and phosphoric acid investments, NPK revamp investment Amount: $335 million Period: 2013-2015 Aim: ✓ Ensuring raw material supply security ✓ Self sufficiency in acid production ✓ Decreasing production costs
Slide 49: Gonen Plant
Chemical Industry Gonen Plant ➢ %100 subsidiary of Toros Tarım ➢ Established on 55,000 m2 land ➢ Founded in 2011 by Alper and Taner Önoğlu ➢ Installed capacity of 3.62 MW ➢ Annual production capacity of 15,000 tons of solid organic and 10,000 tons of liquid organic fertilizers ➢ The amount of organo
Slide 50: Fertilizers – DAP/NP/NPK Production Diagram
Chemical Industry Fertilizers – DAP/NP/NPK Production Diagram ➢ In Samsun Plant, Toros produces sulphuric and phosphoric acid for all its DAP/NPK units. AMMONIA SULPHUR SULPHURIC ACID PHOSPHORIC DAP/NP/NPK UREA/AS* ACID PHOSPHATE ROCK POTASH** *Urea and/or AS is added as nitrogen (N) source in addit
Slide 51: Fertilizers – CAN/AN Production Diagram
Chemical Industry Fertilizers – CAN/AN Production Diagram ✓ In Mersin Plant, Toros produces nitric acid for its CAN/AN unit. AMMONIA AMMONIUM NITRATE AMMONIUM AIR NITRATE CALCIUM NITRIC ACID AMMONIUM NITRATE WATER LIME STONE 51 Tekfen Group Engineering & Chemical Agricultural Services Investment www
Slide 52: Fertilizers – Production and Imports
Chemical Industry Fertilizers – Production and Imports Production - Breakdown by Products 55% 52% 51% 47% 49% 49% 46% 31% 27% 23% 24% 23% 20% 19% 18% 19% 17% 16% 14% 11% 11% 12% 13%* 12% 13% 8% 10% 5% 1% 1% 1% 0% 0% 0% 0% 1% 1% 0% 0% 0% 0% 0% 2013: 1.41 mn tons 2014: 1.49 mn tons 2015: 1.37 mn tons
Slide 53: Complementary Products and Services
Chemical Industry Complementary Products and Services Specialty Fertilizers: ➢ Leading brand in specialty fertilizers in Turkey since 2000 ➢ Procurement from globally known leading producers ➢ Also, own production facility in Mersin ➢ Blending soluble NPKs for the high growth local market 53 Tekfen
Slide 54: Environmentally Conscious Production
Chemical Industry Environmentally Conscious Production MERSIN PLANT CEYHAN PLANT SAMSUN PLANT ✓ Catalytic reduction system to ✓ ISO 14001:2015 Environment ✓ Emission Certificate keep NOX emission in exhaust Management ✓ ISO 14001:2015 Environment gases released to atmosphere ✓ ISO 9001:2015 Quality
Slide 55: Social Responsibility
Chemical Industry Social Responsibility Supporting farmers; Raising awareness; ▪ Educational seminars and training programs ▪ Supporting UNFPA’s “Improving health conditions of through «Farmer Academy» to improve agricultural seasonal workers in agriculture” program in Turkey productivity and produc
Slide 56: Product Stewardship
Chemical Industry Product Stewardship ✓ In 2018, Toros Tarim became the first Turkish fertilizer producer who received IFA Protect & Sustain Certificate and distinct group of 55 producers from 51 countries. ✓ Product Stewardship refers to the industry’s Safety, Health and Environmental (SHE) managem
Slide 57: Agricultural Production
Agricultural Production AGRICULTURAL PRODUCTION Tekfen Group Engineering Chemical Agricultural Services Investment www.tekfen.com.tr & Contracting Industry Production
Slide 58: Tekfen Agri in Brief
Agricultural Production Tekfen Agri Tekfen Agri in Brief ✓ Founded in 2017. ✓ 90% of the Alanar Fruit and its affiliated company Alara Nursery was bought in 2017. ✓ Following an approval of The Ministry of Industry and Technology, Tekfen Agri Adana Agripark has become the R&D Centre in 2018. ✓ Upon
Slide 59: Alanar Fruit & Alanar Sapling Targets
Agricultural Production Alanar Fruit & Alanar Sapling Targets After Tekfen Partnership Revenues (TRYmn) ✓ New land investments of 4,000 da between 2019-2023 350 ✓ Four new plant investments in Alasehir, Aydin, Malatya and 294 300 CAGR: 105% Bursa and various equipment investments 250 206 ✓ Sales vol
Slide 60: Tekfen Tarım - Seed & Sapling Activities
Agricultural Production Tekfen Tarım - Seed & Sapling Activities Micropropagation: ▪ Targets to meet the sector's demand for high quality, high-yield and disease-free homogenous seed, saplings and young plants ▪ First local successful producer of potato seeds on commercial scale by using micropropag
Slide 61: Services
Services SERVICES Tekfen Group Engineering Chemical Agricultural Services Investment www.tekfen.com.tr & Contracting Industry Production
Slide 62: Marine Terminal Services
Services Marine Terminal Services ✓ Providing loading/unloading and storage services to third parties ✓ Ceyhan Port: Turkey’s 7th largest dry bulk & general cargo port One of the most important transit terminals for petroleum products in Eastern Mediterranean ✓ Strong brand name associated with high
Slide 63: Marine Terminal Services
Services Marine Terminal Services ➢ 1 jetty with 2 berths handling 14,000 tons of dry bulk cargo per day ➢ Closed storage area capacity: 210,000 tons ➢ Open storage area capacity: 300,000 tons SAMSUN PORT CEYHAN PORT ➢ 2 jetties with 8 berths handling 60,000 tpd of dry bulk cargo and 20,000 tpd of l
Slide 64: Marine Terminal Services
Services Marine Terminal Services Dry&Liquid Bulk and General Cargo * Petroleum Products Handled Quantity (mn tons) Occupancy Rate 7.00 6.00 77% 5.60 70% 5.36 60% 4.48 4.40 55% 4.18 40% 42% 9% 2013 2014 2015 2016 2017 2018 2019 2013 2014 2015 2016 2017 2018 2019 *Does not include petroleum products’
Slide 65: Marine Terminal Services
Services Marine Terminal Services Terminal Revenues & EBITDA & Net Income (TRYmn) 171 143 145 137 123 120 91 93 90 85 83 82 69 72 68 67 54 42 30 32 23 2013 2014 2015 2016 2017 2018 2019 Revenues EBITDA Net Income 65 Tekfen Group Engineering Chemical Agricultural Services Investment www.tekfen.com.tr
Slide 66: Adana Yumurtalık Free Zone (TAYSEB)
Services Adana Yumurtalık Free Zone (TAYSEB) ➢ Established in 1990 ➢ Founding partner and operator of the one of the largest free zones in Turkey ➢ 4.5 million m2 of area and fully installed infrastructure ➢ One of Turkey's biggest free zones today ➢ Strategically located in Ceyhan region which is b
Slide 67: Tekfen Services
Services Tekfen Services ✓ Facility Management of Tekfen Tower, Taksim Residences, Tekfen Offices, Yalıkavak Tekfen Houses, Gumusluk Muskulum Ciftligi, Kagithane Office Park, Levent Office and S-Cafe are directed and operated by Tekfen Tourism & Facility Management Co., Inc. under the brand name of
Slide 68: Tekfen Insurance
Services Tekfen Insurance ✓ Tekfen Insurance started the insurance operations as the agency of La Suisse Insurance in 1982. ✓ Tekfen Insurance continues today with the agency in all insurance branches in Turkey and 21 of the world's leading insurance companies. ✓ Tekfen Services has generated TRY14.
Slide 69: Investments
Investments INVESTMENTS Tekfen Group Engineering & Chemical Agricultural Services Investment www.tekfen.com.tr Contracting Industry Production
Slide 70: Tekfen Tower & Akmerkez
Investments Tekfen Tower & Akmerkez → Tekfen Holding earns rental income from the offices it owns in Akmerkez and Tekfen Tower. → Tekfen Tower has 33.000 m² rentable area, of which, 30% is used by Group Companies, while the rest is rented to various institutions. → Total rental income from Tekfen To
Slide 71: Tekfen Ventures
Investments Tekfen Ventures Investing in the Future Based in New York City, Tekfen Ventures is an early stage venture fund investing in technologies that will redefine our sectors. As a leader in our industry, we have the opportunity and responsibility to help drive the critical innovations they nee
Slide 72: SOCAR Polymer
Investments SOCAR Polymer ✓ Founded in 2013 ✓ 184 kta PP and 120 HDPE kta production capacity ✓ PP and HDPE plants were put into operations in July 2018 and February 2019, respectively ✓ 10% of the shares are owned by Tekfen Holding ✓ Starting in 2020, SOCAR Polymer will be operating at full capacit
Slide 73: Berlin & Dortmund Projects
Investments Berlin & Dortmund Projects Dortmund Investment: ✓ On 2 May 2019, an investment in the amount of 3 million Euro with the purchase of 12.58% share ✓ Operation after the partial renovation of the office building built in 1993 located in the city center of Dortmund / Germany. ✓ The pre-sales
Slide 74: Appendix
Tekfen Group Appendix Financial Highlights 75 Net Cash Position 76 Capital Expenditures 77 Disclaimer 78 Contact Info 79 74 Tekfen Group Engineering & Chemical Agricultural Services Investment www.tekfen.com.tr Contracting Industry Production
Slide 75: Financial Highlights – Segmental Breakdown
Tekfen Group Financial Highlights – Segmental Breakdown (Million TRY) Expectation Revenue 2019 2020E Contracting 10,538 8,922 Chemical Industry 3,451 3,774 Agricultural Production 206 294 Services 367 501 Investment 41 48 Total 14,603 13,539 EBITDA 2019 Margin 2020E Margin Contracting 1,451 13.8% 69
Slide 76: Net Cash Position
Tekfen Group Net Cash Position* Tekfen Group Net Cash Position (TRY million) Net Cash Position by segment (TRY million) 3,596 *** 2016 2017 2018 2019 **** 3,329 2,090*** 1,562 **** 2,136 ** 1,256 ** 800 801 834 749 586 672 511 227 331 2016 2017 2018 2019 -695 Contracting Agri Industry Other * Net of
Slide 77: Capital Expenditures
Tekfen Group Capital Expenditures Capital Expenditures (Segmental Breakdown, Million TRY) 401.5 3.2 296.1 291.8 3.8 261.9 232.7 17.0 3.9 193.3 184.1 3.7 169.7 0.7 71.5 1.0 371.2 4.0 61.1 167.0 96.5 49.9 275.0 6.7 158.4 120.0 11.4 167.9 186.5 142.6 107.7 78.4 27.0 45.7 24.7 17.3 2011 2012 2013 2014 2
Slide 78: Disclaimer
Tekfen Group Disclaimer Tekfen Holding A.S. (the “Company”) has prepared this presentation (the “Presentation”) in order to provide investors with general information about the Company. The contents of this Presentation is based on public information and on data provided by the Company management. N
Slide 79: Contact Information
Tekfen Group Contact Information For General Questions and Requests for Reports: Çağlar Gülveren, CFA Investor Relations and Corporate Governance Director, Tekfen Group of Companies E-MAİL: cgulveren@tekfen.com.tr / investor@tekfen.com.tr TEL: +90 212 359 34 20 Can Çimenser Investor Relations Assist