Alarko Holding A.s. · BIST:ALARK
Alarko Holding A.s — Investor Day (February 2024)
22 slides from Alarko Holding A.s's investor day presentation, Feb 19, 2024
Slide 1: 5th Capital Markets Day Presentation
5th Capital Markets Day Presentation 19.02.2024
Slide 2: 2023 in Brief
2023 in Brief General Central Bank Strategic Evaluation Policies Transformation
Slide 3: Alarko Holding in 2023
Alarko Holding in 2023 Revenue EBITDA Net Profit 9M 2023 76,572 24,135 34,752 (Trailing 12M) Combined (TL mn) 2023 9M 2023 53,112 17,188 25,545 Q3 2023 24,215 9,492 7,933
Slide 4: Alarko Holding in 2023: Combined Investments
Alarko Holding in 2023 90% 83% 68% Share of Power Segment in Combined Revenue 2011 2022 2023 16.067 9.244 Combined Investments 2.641 2.765 4.186 1.707 (TL mn) 88 77 158 314 462 455 714 679 590 846 33 23 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 B
Slide 5: Change in Combined Debt and Cash Flow
Alarko Holding in 2023 194 Change in 151 4.765 Combined Debt 112 2.299 187 123 (in mn Original 382 211 384 196 1117 807 95 Currency) 920 794 680 125 447 329 378 509 160 572 52 2017 2018 2019 2020 2021 2022 2023 USD (Excl. BAKAD) USD BAKAD TL Euro 14.000 13.096 12.943 2,5 2,3 12.000 2 10.000 Combined
Slide 6: Business Segments
Business Segments
Slide 7: Power Generation and Power Prices
Power Generation Prices Power Power (MWh) Generation 244.883 38.880 164 2018 96.687 2017 10.522.209 45 10.141.759 361.777 232 45.785 2018 2019 47 97.242 9.671.542 9.166.738 260 300.418 Karakuz 2019 46 23.349 2020 99.741 10.644.124 10.220.616 Gönen 219 2020 46 66.859 41.467 TL /MWh 2021 101.311 9.983
Slide 8: Coal Prices (API 2 USD/Ton)
Power Generation 350 200% 292 300 141% 150% 142% 250 100% 200 Coal Prices 50% 150 (API 2 USD/Ton) 9% 120,76 128,6 0% 91,83 -18% 91 100 -34% 60,84 50,16 -29% -50% 50 -56% 0 -100% 2018 2019 2020 2021 2022 2023 2024 F API 2 Değişim Change The figures for 2024 represents the API 2 Future price.
Slide 9: Power Distribution Profit Breakdown
Power Distribution & Retail 14.747 4.802 Asset Base and Investment 3.585 2.072 1.042 2.161 1.327 1.679 584 (in mn TL) 456 323 285 284 748 987 512 2016 2017 2018 2019 2020 2021 2022 2023 T Asset Base Varlik Tabanı Yatırım Investment Expon. (Varlik Tabanı) Expon.(Asset Base) Quality 1.069 2.013 4.307
Slide 10: Power Retail Profit Breakdown (mn TL)
Power Distribution & Retail 265 39 497 495 1.023 39% 2% 252% 0% 28% Power Retail Profit 69% 34% 0% 0% 63% 12% 0% 63% Breakdown 26% 49% 29% 20% 24% 4% 1% (mn TL) -32% -4% -21% -161% 2020 2021 2022 2023 B 2024 B OPEX Net Profit OPEXKarı Profit STFC Karı Profit Net Kar Marjı Diğer Others Dengesizlik+To
Slide 11: Construction Backlog (USD mn)
Construction 1.183 1.140 992 835 555 912 836 594 7 545 450 Backlog 33 349 (USD mn) 417 587 437 307 234 271 304 290 205 42 29 2016 2017 2018 2019 2020 2021 2022 2023 Yurt İçi Domestic Yurt Dışı International Toplam Total
Slide 12: Land Development Portfolio (TL mn)
Land Development 10.339 1239 5.742 Portfolio 871 9.100 2.947 (TL mn) 1.886 662 1.574 4.871 990 1.195 600 751 523 2.285 406 1.135 583 672 974 2017 2018 2019 2020 2021 2022 2023 Gayrimenkul Real Estate Nakit Cash Toplam Total Cash Position for the 9-month Period of 2023
Slide 13: Tourism: Number of Guests and Occupancy
Tourism 143.915 134.573 # of Guests 23.173 26.093 21.137 21.129 4.575 3.737 4Ç 2022 4Ç 2023 2022 2023 Overnight X of Guests Geceleme Sayısı Müşteri Sayısı Stays 81% 77% 76% Occupancy % 72% 4Ç 2023 Q4 2022 4Ç2023 Q4 2023 2022 2023
Slide 14: Industry and Trade Revenue and EBITDA Development
Industry and Trade 3.356 Revenue 1.567 Development 1.295 (mn TL) 520 3Ç Q3 Q3 2022 2022 2022 3Ç 2023 Q3 2023 9A 9M2022 2022 9A 2023 9M 2023 400 371 25% 350 19% 304 20% 300 17% EBITDA 250 15% 200 Development 137 9% 10% 150 6% 88 100 5% 50 - 0% Q3 3Ç Q32022 2022 2022 3Ç 2023 9A 2022 9M 9A2023 2023 9M
Slide 15: Agriculture Revenue and EBITDA
Agriculture Total 229 3.282 10.901 18.279 Revenue 6.250 (mn TL) 5.131 11.730 1.800 5.531 1.400 2023 2024 B 2025 B 2026 B Alarko Jeotermal Sera Alarko Gübre Genseed Alarko Gıda Total 17 933 3.429 5.882 1.813 EBITDA 1.467 3.988 1.896 525 405 2023 2024 B 2025 B 2026 B Alarko Jeotermal Sera Alarko Gübre
Slide 16: Alarko Investment: Equity Fund Investments
Alarko Investment 833.566.056 2023 Investments - 550 mn TL Equity Fund 699.258.500 Investments (TL) 230.000.000 320.000.000 24 July 2023 26 December 2023 31 December 2023 14 February 2024 Private Equity • 7.5 mn USD capital investment Investments • 25 mn USD committed Investment • Investment in earl
Slide 17: 2030 Vision New Target
Alarko Target Revision NAD- 3.0 NAD- 1.1 BLN USD* BLN USD* 2030 Vision Breakdown of Activities * As of initiation of vision dated back January 1st 2022 Land Power ContructionDevelopment Industry Tourism %81 %4 %6 %3 %5 2028 Target NAD- 4.0 BLN USD* New Target Organic New Business Inorganic Growth Li
Slide 18: Current Activities, New Business Lines, Alarko Investment
2028 Target Current Activities New Business Lines Alarko Investment %55 %35 %10
Slide 19: 2028 Target: Organic and Inorganic Growth
2028 Target Renewable Energy Power Battery Tourism & Tourism Asset Acquisition Land Utilization of the Hillside Organic and Brand Development Inorganic Growth of Existing Activities Overseas Greenhouse Alarko Investment Agriculture Fertilizer Investment Aviation Transformation Project
Slide 20: Portfolio management hub with $4 billion value by 2028
2028 Yılında The objective is for the Alarko to become a portfolio management hub and increase its value to $4 billion USD Balanced Portfolio
Slide 21: 2023 & 2024 Guidance
2023 & 2024 Guidance mn TL 2020 2021 2022 2023 B 2024 B Combined Net Profit 2,163 3,731 24,944 25.235-26.231 42.802-44.492 Consolidated Net Profit 802 1,274 11,441 13.000-14.000 22.050-24.050 2024 Budget Parameters 2024 Average USD 35.95 EURO 38.82
Slide 22: Disclaimer
Disclaimer Disclaimer Alarko 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’s management. Ne