Aksa Enerji Uretim A.s. · BIST:AKSEN
Aksa Enerji Uretim A.s — H1 2022 Earnings Presentation
17 slides from Aksa Enerji Uretim A.s's earnings presentation, Aug 18, 2022
Slide 1: 1H 2022 Earnings Presentation
1H 2022 Earnings Presentation 18 Aug 2022
Slide 2: Key Highlights – 1H22
STRONG GROWTH ACCOMPANIED BY LOW LEVERAGE Key Highlights – 1H22 TL million 2Q22 2Q21 q/q Quarterly- 2Q22 vs 2Q21 Net Sales 12,676 2,620 384% EBITDA 1,813 616 194% Net Income 1,283 280 358% (*) Net Financial Debt 6,896 4,545 52% 1H22 1H21 y/y Cumulative-1H22 Net Sales 18,568 4,764 290% EBITDA 3,320 1
Slide 3: Regional Breakdown
FOREIGN OPERATIONS’ CONTRIBUTION TO EBITDA AT 48% Regional Breakdown TL million Domestic Foreign Share of Foreign 9% Quarterly- 2Q22 Net Sales 11,553 1,123 54% EBITDA 829 984 Profit Before Tax 899 735 45% TL million Domestic Foreign Share of Foreign 11% Cumulative-1H22 Net Sales 16,576 1,992 EBITDA
Slide 4: Regional Breakdown
HIGHER SPOT PRICES IN TURKEY ACCOMPANIED BY FX BASED TARIFFS IN FOREIGN OPERATIONS Regional Breakdown Domestic Foreign Total Quarterly- 2Q22 Sales Volume (GWh) 4,732 1,271 6,003 Sales Price (TL/MWh) 1,918 920 1,707 Domestic Foreign Total Cumulative- 1H22 Sales Volume (GWh) 9,984 1,948 11,932 Sales P
Slide 5: Sales Channel Breakdown
STRONG RECOVERY IN DOMESTIC SALES PRICES Sales Channel Breakdown Sales Volume by Channel (1H22) Sales Price by Channel (TL/MWh) 3% 2.394 17% 283 1,948 GWh 1.877 GWh 1.512 1.506 1,152 1.431 10% GWh 1.031 1.089 57% 1,480 6,417 373 363 13% 266 GWh GWh Northern BSM (Spot Affiliated DisCo OTC&Bilateral F
Slide 6: Bolu PP Key Highlights
2Q22 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): 1,069 GWh (1H22) CUR: 91% (1H22) Capacity Payment: 20 MM TL (1H22) Sales Composition: 99% Day Ahead Market, 1% Bilateral Agre
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): 1,798 GWh (1H22) Capacity Payment: 78 MM TL (1H22) CUR: 50% (1H22) Adjusted CUR (*): 66% (1H22) • Base load power plant with high efficiency ra
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): 137 GWh (1H22) CUR: 25% (1H22) Adjusted CUR (*): 42% (1H22) • Şanlıurfa Power Plant resumed its operations from Aug’21 onwards driven by favorable market
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): 287 GWh (1H22) CUR: 43% (1H22) PPA Price: 2,359 TL/MWh (1H22) Contract Expiry: 2024 (+3 year extension option) • Northern Cyprus PP benefits from U
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 • On top of that, PP generates revenues from routine sales activity via spot market • Ghana engine conve
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 1H22 1H21 y/y MM TL Net sales 18,568 4,764 290% Cost of sales (15,716) (3,859) 307% Gross Profit 2,852 905 215% General & administrative costs (116) (47) 145% Marketing expenses (4) (2) 73% Other operating income 105 12 787% Other operating expenses (86) (
Slide 15: Consolidated Summary Balance Sheet
ANNEX Consolidated Summary Balance Sheet 1H22 YE21 ytd MM TL Cash and cash equivalents 236 525 -55% Trade receivables 7,821 5,328 47% Inventories 303 225 34% Total Current Assets 9,390 7,129 32% PP&E 16,042 13,038 23% Intangibles 268 222 21% Total Non-current Assets 16,752 13,520 24% Total Assets 26
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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