Aksa Enerji Uretim A.s. · BIST:AKSEN
Aksa Enerji Uretim A.s — 9M 2021 Earnings Presentation
17 slides from Aksa Enerji Uretim A.s's earnings presentation, Nov 5, 2021
Slide 1: 9M 2021 Earnings Presentation
9M 2021 Earnings Presentation 5 November 2021
Slide 2: Key Highlights – 9M21
HIGHEST QUARTERLY NET INCOME ACHIEVED DRIVEN BY POSITIVE OPERATING ENVIRONMENT Key Highlights – 9M21 TL million 3Q21 3Q20 q/q Quarterly- 3Q21 vs 3Q20 Net Sales 3,559 1,801 98% EBITDA 644 381 69% Net Income 325 133 144% Net Financial Debt 3,301 2,621 (*) 26% 9M21 9M20 y/y Cumulative-9M21 Net Sales 8,
Slide 3: Regional Breakdown
FOREIGN OPERATIONS’ CONTRIBUTION TO EBITDA AT 57% Regional Breakdown TL million Domestic Foreign Share of Foreign 11% Quarterly- 3Q21 Net Sales 3,160 399 EBITDA 299 345 54% Profit Before Tax 142 270 66% TL million Domestic Foreign Share of Foreign 14% Cumulative-9M21 Net Sales 7,132 1,191 EBITDA 748
Slide 4: Regional Breakdown
FX BASED PRICE TARIFFS IN AFRICA AND NORTHERN CYPRUS SUPPORTIVE OF OPERATIONS Regional Breakdown Domestic Foreign Total Quarterly- 3Q21 Sales Volume (GWh) 5,738 229 5,967 Sales Price (TL/MWh) 576 1,890 626 Domestic Foreign Total Cumulative- 9M21 Sales Volume (GWh) 16,251 696 16,947 Sales Price (TL/M
Slide 5: Sales Channel Breakdown
ACROSS THE BOARD RECOVERY IN SALES PRICES Sales Channel Breakdown Sales Volume by Channel (9M21) Sales Price by Channel (TL/MWh) Includes 575 GWh & 103 1,828 GWh export to Iraq and Georgia respectively 4% 3% 1,616 541 696 GWh GWh 1,104 33% 5,592 733 GWh 450 486 57% 401 529 9,589 308 270 296 GWh GWh
Slide 6: Bolu PP Key Highlights
MEETING 1% OF TURKEY’S POWER DEMAND Bolu PP Key Highlights Energy Source: Lignite Coal Installed Capacity: 270 MW Generation (Gross): 1,576 GWh (9M21) CUR: 89% (9M21) Capacity Payment: 48 MM TL (9M21) EÜAŞ Lignite PPA Price: 461 TL/MWh (3Q21) • Bolu PP sold 70% of its generation to EÜAŞ (state- Sale
Slide 7: Antalya PP Key Highlights
SIGNIFICANT RECOVERY IN CAPACITY UTILIZATION DUE TO FAVORABLE OPERATING ENVIRONMENT Antalya PP Key Highlights Energy Source: Natural Gas Installed Capacity: 900 MW Generation (Gross): 3,713 GWh (9M21) Capacity Payment: 60 MM TL (9M21) CUR: 69% (9M21) Adjusted CUR (*): 82% (9M21) • Base load power pl
Slide 8: Şanlıurfa PP Key Highlights
OPERATIONS AT URFA GAS POWER PLANT RESUMED AS OF AUG’21 Şanlıurfa PP Key Highlights Energy Source: Natural Gas Installed Capacity: 147 MW Generation (Gross): 83 GWh (9M21) CUR: 44% (9M21) • Şanlıurfa Power Plant resumed its operations from Aug’21 onwards driven by favorable market conditions • 97% o
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: 550 GWh (9M21) CUR: 55% (9M21) PPA Price: 1,104 TL/MWh (9M21) Contract Expiry: 2024 (+3 year extension option) • Northern Cyprus PP benefits from USD based
Slide 10: Overseas Operations Key Highlights
LONG TERM INVESTMENT PLANS ON TRACK Overseas 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 conversion to dual fuel
Slide 11: Uzbekistan Project - Key Highlights
740 MW POWER PLANTS IN UZBEKISTAN TO BE FULLY OPERATIONAL BY 1Q22 Uzbekistan Project - 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 (CC
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: 2021 Guidance Revision
ANNEX 2021 GUIDANCE REVISION FINANCIAL 2021 PREVIOUS 2021 REVISED INDICATORS 2020 ACTUAL GUIDANCE GUIDANCE Net Sales (MM TL) 7,231 7,750 11,718 EBITDA (MM TL) 1,497 1,764 2,300 CAPEX (MM TL) 255 1,575 1,790 Notes: (1) Domestic incdicates operations in Turkey and Northern Cyprus (2) Average Spot Elec
Slide 14: Consolidated Summary Income Statement
ANNEX Consolidated Summary Income Statement 9M21 9M20 y/y MM TL Net sales 8,323 5,268 58% Cost of sales (6,863) (4,383) 57% Gross Profit 1,460 885 65% General & administrative costs (88) (83) 5% Marketing expenses (4) (4) 10% Other operating income 12 6 91% Other operating expenses (28) (35) -21% Op
Slide 15: Consolidated Summary Balance Sheet
ANNEX Consolidated Summary Balance Sheet 9M21 2020 YE ytd MM TL Cash and cash equivalents 396 314 26% Trade receivables 3,512 2,706 30% Inventories 354 138 156% Total Current Assets 5,578 3,464 61% PP&E 6,971 5,655 23% Intangibles 162 116 40% Total Non-current Assets 7,343 6,039 22% Total Assets 12,
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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