Aksa Enerji Uretim A.s. · BIST:AKSEN
Aksa Enerji Uretim A.s — FY2022 Earnings Presentation
17 slides from Aksa Enerji Uretim A.s's earnings presentation, Mar 1, 2023
Slide 1: YE 2022 Earnings Presentation
YE 2022 Earnings Presentation 1 March 2023
Slide 2: Key Highlights – 12M22
FINANCIAL LEVERAGE AT ALL TIME LOW WITH 1.12x Key Highlights – 12M22 TL million 4Q22 4Q21 q/q Quarterly- 4Q22 vs 4Q21 Net Sales 11,908 5.565 114% EBITDA 1,264 867 46% Net Income 649 866 -24% Net Financial Debt 7,365 4,545 62% 12M22 12M21 y/y Cumulative-12M22 Net Sales 45,638 13,887 229% EBITDA 6,559
Slide 3: Regional Breakdown
FOREIGN OPERATIONS’ CONTRIBUTION TO EBITDA AT 47% Regional Breakdown TL million Domestic Foreign Share of Foreign 9% Quarterly- 4Q22 Net Sales 10,785 1,123 47% EBITDA 671 593 29% Profit Before Tax 688 285 TL million Domestic Foreign Share of Foreign 10% Cumulative-12M22 Net Sales 41,207 4,431 49% EB
Slide 4: Regional Breakdown
HIGHER SPOT PRICES IN TURKEY ACCOMPANIED BY FX BASED TARIFFS IN FOREIGN OPERATIONS Regional Breakdown Domestic Foreign Total Quarterly- 4Q22 Sales Volume (GWh) 3,326 1,591 4,827 Sales Price (TL/MWh) 3,374 728 4,102 Domestic Foreign Total Cumulative- 12M22 Sales Volume (GWh) 18,903 4,920 23,823 Sales
Slide 5: Sales Channel Breakdown
STRONG RECOVERY IN DOMESTIC SALES PRICES Sales Channel Breakdown Net Sales Volume by Channel (12M22) Sales Price by Channel (TL/MWh) 2,908 3% 17% 650 2,450 3,544 GWh 2,231 2,328 GWh 1,832 3,158 GWh 49% 1,268 885 15% 638 584 3,516 10,548 438 GWh GWh Northern BSM (Spot Affiliated DisCo OTC&Bilateral F
Slide 6: Bolu PP Key Highlights
4Q22 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): 1,961GWh (12M22) CUR: 83% (12M22) / 75% (4Q22) Capacity Payment: 34 MM TL (12M22) Sales Composition: 42% Day Ahead Market, 58
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): 3,002 GWh (12M22) Capacity Payment: 116 MM TL (12M22) CUR: 42% (12M22) / 6% (4Q22) Adjusted CUR (*): 54% (12M22) • Base load power plant with h
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): 186 GWh (12M22) CUR: 17% (12M22) / 5% (4Q22) Adjusted CUR (*): 26% (12M22) • Şanlıurfa Power Plant resumed its operations from Aug’21 onwards driven by fa
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): 661 GWh (12M22) CUR: 49% (12M22) / 55% (4Q22) PPA Price: 2,908 TL/MWh (12M22) Contract Expiry: 2024 (+3 year extension option) • Northern Cyprus PP
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 • Ghana engine conversion to dual fuel project (heavy fuel oil/natu
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: 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: 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 14: Consolidated Summary Income Statement
ANNEX Consolidated Summary Income Statement 12M22 12M21 y/y MM TL Net sales 45.638 13,887 229% Cost of sales (40.190) (11,808) 240% Gross Profit 5,447 2,078 162% General & administrative costs (298) (164) 82% Marketing expenses (20) (8) 136% Other operating income 387 226 71% Other operating expense
Slide 15: Consolidated Summary Balance Sheet
ANNEX Consolidated Summary Balance Sheet 12M22 12M21 ytd MM TL Cash and cash equivalents 937 525 79% Trade receivables 9,217 5,328 73% Inventories 244 225 8% Total Current Assets 11,416 7,129 60% PP&E 21,295 13,038 63% Intangibles 345 222 56% Total Non-current Assets 21,816 13,037 61% Total Assets 3
Slide 16: Contact- Investor Relations
Contact- Investor Relations Cevdet Yalçın CFO investorrelations@aksaenerji.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
Aksa Enerji Üretim A.Ş. — FY2022 Earnings Presentation on 6ix