Aksa Enerji Uretim A.S. · BIST:AKSEN
Aksa Enerji Uretim A.S — 9M 2026 Earnings Presentation
19 slides from Aksa Enerji Uretim A.S's earnings presentation, Nov 10, 2026
Slide 1: 9M 2026 Earnings Presentation
1 9M 2026 EARNINGS PRESENTATION 10 NOVEMBER 2026
Slide 2: Key Highlights – 9M'26
Key Highlights – 9M’26 OPERATIONAL PROFITABILITY MAINTAINED THANKS TO IMPROVEMENT IN QUARTERLY PERFORMANCE TL million 9M’26 9M’25 y/y 9M’26 vs 9M’25 Net Sales 35,399 40,357 -12% EBITDA 12,817 12,743 1% Net Income 2,814 3,127 -10% (*) Net Financial Debt 73,196 59,554 23% 9M’26 9M’25 y/y KPIs-9M’26 vs
Slide 3: Regional Breakdown
Regional Breakdown FOREIGN OPERATIONS’ CONTRIBUTION TO EBITDA AT 84% TL million Domestic Foreign Share of Foreign Cumulative- 9M’26 46% Net Sales 16,219 19,181 54% 16% EBITDA 2,052 10,765 84% Profit Before Tax -2,548 8,384 TL million Domestic Foreign Share of Foreign Cumulative- 9M’25 30% Net Sales
Slide 4: Price Evolution in Turkish Market
Price Evolution in Turkish Market Price SPOT PRICES IN Evolution in Turkish TURKIYE DECREASED Market BY 23% Y/Y Average Spot Electricity Prices (TL/MWh) 4.250 October 2026 AVG: 2,925 TL/MWh 3.500 2.878 2.832 2.783 2.750 2.198 2.000 1.250 917 500 3Q25 4Q25 1Q 26 2Q 26 3Q 26 Average Spot Energy Prices
Slide 5: Antalya PP - Key Highlights
Antalya PP - Key Highlights ANTALYA- 900 MW NATURAL GAS CCGT Ali Metin Kazancı SIGNIFICANT Antalya RECOVERY Power IN IN GENERATION Plant – KeyQUARTER THE THIRD Highlights DUE TO SEASONALITY Antalya Power Plant Location Technical Overview < ◼ Energy Source: Natural Gas Plant Overview ◼ Installed Capa
Slide 6: Bolu PP - Key Highlights
Bolu PP - Key Highlights BOLU GÖYNÜK- 270 MW LOCAL LIGNITE POWER PLANT Bolu Göynük GUARANTEED Power REVENUE Plant MODEL VIA–POWER Key Highlights PURCHASE AGREEMENT SIGNED WITH EÜAŞ Bolu Göynük Power Plant Location Technical Overview ◼ Energy Source: Local Lignite Plant Overview ◼ Installed Capacity:
Slide 7: Gaziantep Pamuk SPP with Storage – Key Highlights
Gaziantep Pamuk SPP with Storage – Key Highlights GAZİANTEP PAMUK- 58 MW SOLAR POWER PLANT WITH STORAGE Bolu THE Göynük REGION’S Power FIRST Plant – Key AND LARGEST Highlights SOLAR POWER PLANT INVESTMENT WITH STORAGE Gaziantep SPP with Storage Location Technical Overview ◼ Energy Source: Solar Powe
Slide 8: Şanlıurfa Independent Storage Facility – Key Highlights
Şanlıurfa Independent Storage Facility – Key Highlights ŞANLIURFA- 50 MW INDEPENDENT STORAGE FACILITY BoluINDEPENDENT FIRST Göynük Power PlantFACILITY STORAGE – Key IN Highlights TÜRKİYE Şanlıurfa Independent Storage Facility Location Technical Overview ◼ Installed Capacity: 50 MW (61.93 MWh storage
Slide 9: Northern Cyprus - PP Key Highlights
Northern Cyprus - PP Key Highlights NORTHERN CYPRUS 188 MW COMBINED CYCLE HFO POWER PLANT USD BASED GUARANTEED ENERGY SALES Northern Cyprus Power Plant Location Technical Overview ◼ Energy Source: Liquid Fuel ◼ Installed Capacity: 188 MW Combined Cycle Plant Overview ◼ COD: 2003 ◼ Contract Expiry: 2
Slide 10: Tashkent, Bukhara & Tallimarjon PP – Key Highlights
Tashkent, Bukhara & Tallimarjon PP – Key Highlights INSTALLED CAPACITY IN UZBEKISTAN REACHED 1,220 MW Tashkent A, B and Bukhara Power Plants – Key Highlights Uzbekistan Power Plants’ Locations Technical Overview ◼ Energy Source: Natural Gas (CCGT) ◼ Installed Capacity: 1,220 MW (Tashkent A: 240 MW;
Slide 11: Kazakhstan Kyzylorda PP – Key Highlights
Kazakhstan Kyzylorda PP – Key Highlights KAZAKHSTAN KYZYLORDA 264 MW COMBINED HEAT AND POWER PLANT TENGE BASED GUARANTEED ENERGY SALES Kazakhstan Kyzylorda Power Plant Location Technical Overview ◼ Energy Source: Natural Gas ◼ Installed Capacity: 264 MW Plant Overview ◼ COD: 1 June 2026 ◼ Fuel costs
Slide 12: Africa Operations – Key Highlights
Africa Operations – Key Highlights LONG TERM GUARANTEED ENERGY SALES IN HARD CURRENCY & Mali FUEL Power Plant – Key IS PASS THROUGH Highlights IN ALL OF OUR OVERSEAS OPERATIONS Africa Power Plants’ Locations Technical Overview ◼ Energy Source: Natural Gas + Liquid Fuel (Dual Fuel) ◼ Installed Capaci
Slide 13: Our Medium-Term Growth Plan: 68% Growth in Installed Capacity
OUR MEDIUM-TERM GROWTH PLAN: 68% GROWTH IN INSTALLED CAPACITY 6.178MW 375 392 621 386 214 3.675MW 210* 305 108 2.667 900 September 2026 2027 2028 2029 2026 Feed-In Tariff Foreign Currency Based PPAs * 35 MW of this capacity consist of Bolu GöynükSolar Power Plant, which is not under Feed in Tariff 1
Slide 14: Current Contract Structure
Current Contract Structure FOREIGN CURRENCY-DENOMINATED, LONG-TERM CONTRACT STRUCTURE Installed Fuel cost Remaining Contract Asset Fuel Type Capacity Offtake Capacity Payments pass- Contract Currency (MW) through? Years Merchant, Primary, Secondary TR- Antalya Natural Gas 900 Yes No n.m. n.m. Freque
Slide 15: Consolidated Summary Income Statement
Annex CONSOLIDATED SUMMARY INCOME STATEMENT 9M’26 9M’25 y/y MM TL Net sales 35,399 40,357 -12% Cost of sales (24,331) (30,329) -20% Gross Profit 11,068 10,028 10% General & administrative costs (1,545) (1,628) -5% Marketing expenses (83) (62) 33% Other operating income 922 861 7% Other operating exp
Slide 16: Consolidated Summary Balance Sheet
Annex CONSOLIDATED SUMMARY BALANCE SHEET 9M’26 YE’25 ytd MM TL Cash and cash equivalents 3,770 8,106 -53% Trade receivables 10,443 9,508 10% Inventories 3,810 2,765 38% Total Current Assets 23,372 24,853 -6% PP&E 134,825 127,029 6% Intangibles 4,343 4,294 1% Total Non-current Assets 148,226 136,254
Slide 17: Consolidated Summary Quarterly Income Statement
Annex CONSOLIDATED SUMMARY QUARTERLY INCOME STATEMENT 3Q’26 3Q’25 Y/Y 2Q’26 Q/Q MM TL Net sales 14,298 12,367 16% 9,856 45% Cost of sales (9,749) (8,759) 11% (6,434) 52% Gross Profit 4,550 3,608 26% 3,422 33% General & administrative costs (502) (544) -8% (503) - Marketing expenses (54) (27) 99% (20
Slide 18: Contact Information
Contact Information INVESTOR RELATIONS Pınar Saatcıoğlu Investor Relations and Sustainability Director investorrelations@aksaenerji.com.tr +90 216 681 1053 Rüzgarlıbahçe Mh . Özalp Çıkmazı No:10 Kavacık / Beykoz Istanbul Aksa Enerji Üretim A.Ş. İnternet düz dolguyla https://www.aksaenerji.com.tr/inv
Slide 19: 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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