Turcas Holding A.s. · BIST:TRCAS
Turcas Holding A.s — Turcas Petrol A.S. — Q1 2022 Earnings Presentation
12 slides from Turcas Holding A.s's earnings presentation, 2022
Slide 1: 1Q22 Earnings Presentation
a) %,%, y % “ (UICOS 1Q22 Earnings Presentation DISCLAIMER STATEMENT Turcas Petrol A.S. (“Turcas") has prepared this presentation document (the "Document”) consisting of documents thereto for the sole purposes of providing information and projections and statements retating to Turcas (the “Informati
Slide 2: 1Q2022 General Overview
1Q2022 General Overview Turcas 1Q22 Turcas Petrol IFRS Consolidated Net Income/Loss Bridging (1Q22) Net Profit: 799 MM TL 900 57 19 -12 -4 -33 70 799 800 386 700 600 500 400 318 300 200 100 0 Turcas Kuyucak Turcas Share in Turcas Share in Profit For The Other* Holding Opex Deferred Tax Net Financing
Slide 3: At a glance - 1Q22
At a glance - 1Q22 Fuel Distribution & Lubricants VOLUME (1) NET SALES EBITDA NET PROFIT 1,640 26,155 2,212 1,285 ths m3 MM TL MM TL MM TL Shell & Turcas in 1Q22 in 1Q22 in 1Q22 in 1Q22 [1.9 MM m3 in 4Q] [19,281 MM TL in 4Q] [341 MM TL in 4Q] [-110 MM TL in 4Q] Power Generation 762 MM 1,249 225 232
Slide 4: Quarterly Segmental Analysis
Quarterly Segmental Analysis Oil Segment Energy Segment MM TL Shell & Turcas RWE & Turcas (Turcas share: 30%) (Turcas share: 30%) Net Profit/ Net Profit/ Revenues EBITDA Revenues EBITDA Loss Loss 1Q22 26,155 2,212 1,285 1,249 225 232 1Q21 8,816 494 69 750 30 26 4Q21 19,281 341 -110 1,322 230 231 3
Slide 5: Shell & Turcas JV – 1Q22 Key Operational Highlights
Shell & Turcas JV – 1Q22 Key Operational Highlights Onsite B2B + B2C Fuel Sales Commercial Fuel Sales ths m3 ths m3 +28% y/y +49% y/y 1.164 303 911 204 1Q2021 1Q2022 1Q2021 1Q2022 Lubricants Sales Onsite Market Share Progress in 2021-2022 Feb. 1 ths m3 22,0% 21,9% 37 37 21,0% 20,0% 19,1% 18,7% 19,0%
Slide 6: Shell & Turcas JV – 1Q22 Key Financial Highlights
Shell & Turcas JV – 1Q22 Key Financial Highlights Net Sales EBITDA MM TL MM TL +197% y/y +348% y/y 2.212 26.155 8.816 494 1Q2021 1Q2022 1Q2021 1Q2022 Net Profit / Loss Shell & Turcas 1Q22 Highlights MM TL • Total sales volume is up by 28% compared to the same quarter of the previous year. 1.285 +1,7
Slide 7: Continuous Cash inflows from Shell & Turcas
Continuous Cash inflows from Shell & Turcas Dividends & Management Fees & SHL Interest Received from Shell & Turcas MM TL 148 MM TL dividends received in 3Q19. Out of that amount, 73 MM TL transferred back to STAS as SHL. This 73 MM TL is planned to be repaid to Turcas in September 2022. 65 57 148 5
Slide 8: RWE & Turcas JV – 1Q22 Key Financial Highlights
RWE & Turcas JV – 1Q22 Key Financial Highlights Net Sales EBITDA MM TL MM TL +66% y/y 1.249 +641% y/y 225 750 30 1Q21 1Q22 1Q21 1Q22 Net Profit / Loss RWE & Turcas 1Q22 Highlights MM TL • Although power generation has significantly declined by 46% due to gas curtailments, net sales has increased by
Slide 9: RWE & Turcas JV – 1Q22 Key Operational Highlights
RWE & Turcas JV – 1Q22 Key Operational Highlights Gas Consumption Electricity Generation mcm GWh -44% y/y -46% y/y 262 1.409 147 762 1Q21 1Q22 1Q21 1Q22 Cash inflows to Turcas from RWE & Turcas JV RTG Average Electricity Sales Price (TL/MWh) (under SHL repayment) MM TL 31 1.513 20 913 557 8 9 379 33
Slide 10: Turcas Consolidated IFRS Summary BS & PL
Turcas Consolidated IFRS Summary BS & PL IFRS Consolidated Financial Statements & Financing Ratios Balance Sheet , million TL 2021 1Q2022 Ytd Income Statement, million TL 1Q2021 1Q2022 Y/Y Revenues (Electricity Sales) 21 0 n.m. Cash & Cash Equivalents 21 31 52% Gross Profit 15 0 n.m. (from STAŞ, ST)
Slide 11: Financial Deleveraging Ongoing – Planned Schedule
Financial Deleveraging Ongoing – Planned Schedule MM EUR Denizli CCPP +TKJ PP Project Finance Loans Principal Outstanding Balance 200 150 127 114 39 100 100 37 85 173 165 33 151 135 31 120 50 102 88 77 67 54 37 20 17 0 6 - 2013 2013 DecDec. A 2013 YE A 2014 YE A 2015 YE A 2016 YE A 2017 YE A 2018 YE
Slide 12: Thank you!
Thank you! Contact Information Arif ŞAHİN Mert GÖKNAR Corporate Finance and Investor Finance and Investor Relations Manager Relations Deputy Manager E-mail: mert.goknar@turcas.com.tr E-mail: arif.sahin@turcas.com.tr Phone: +90 212 259 00 00 / Ext: 1243 Phone: +90 212 259 00 00 / Ext: 1238