Aksa Enerji Uretim A.s. · BIST:AKSEN
Aksa Enerji Uretim A.s — H1 2024 Earnings Presentation
16 slides from Aksa Enerji Uretim A.s's earnings presentation, Sep 6, 2024
Slide 1: 2024 1H Earnings Presentation
1 2024 1H EARNINGS PRESENTATION 6 September 2024
Slide 2: Key Highlights – 1H24
Key Highlights – 1H24 SUSTAINED RECOVERY IN EBITDA MARGIN TL million 1H24 1H23 y/y 1H24 vs 1H23 Net Sales 12,333 24,958 -51% EBITDA 3,144 5,375 -42% Net Income 1,509 3,464 -56% Net Financial Debt 21,020 15,772(*) 33% 1H24 1H23 y/y KPIs-1H24 vs 1H23 Gross Margin 20% 21% -1pp EBITDA Margin 25% 22% +3p
Slide 3: Regional Breakdown
Regional Breakdown FOREIGN OPERATIONS’ CONTRIBUTION TO EBITDA REACHING 82% TL million Domestic Foreign Share of Foreign Cumulative- 1H24 33% Net Sales 8,298 4,035 67% 18% EBITDA 564 2,581 82% Profit Before Tax (1,351) 4,173 TL million Domestic Foreign Share of Foreign Cumulative- 1H23 20% Net Sales
Slide 4: Shares of Region in EBITDA
Shares of Region in EBITDA FOREIGN OPERATIONS’ CONTRIBUTION INCREASING AS EXPECTED Shares of Regions in EBITDA 90% 82% 80% 70% 60% 54% 50% 46% 40% 30% 20% 18% 10% 0% 1H23 1H24 Domestic Foreign 1H23 1H24 • Foreign operations contribution increased to 82% of our EBITDA as expected • Contribution of do
Slide 5: Price Evolution in Turkish Market
Price Evolution in Turkish Market Price SPOT PRICE Evolution CEILING in Turkish INCREASED TO 3,000Market TL/MWh FROM 2,700 TL/MWh IN JUL’24 Average Spot Electricity Prices & Maximum Settlement Prices (TL/MWh) Maximum Settlement Price Implementation 3.750 3.548 3.000 2.589 2.837 2.562 2.574 2.633 2.3
Slide 6: Antalya Power Plant – Key Highlights
Antalya PP - Key Highlights ACTIVE Ali PRESENCE Metin IN ANCILIARY Kazancı SERVICES Antalya Power Plant – Key Highlights Antalya Power Plant Location Technical Overview < ◼ Energy Source: Natural Gas (CCGT) Plant Overview ◼ Installed Capacity: 900 MW ◼ CoD: 2008 ◼ 2 Siemens SGT5 – 4000F gas turbine
Slide 7: Bolu Göynük Power Plant – Key Highlights
Bolu PP - Key Highlights ROUTINE Bolu MAINTENANCE Göynük HELD IN Power Plant 2Q24Highlights – Key Bolu Göynük Power Plant Location Technical Overview ◼ Energy Source: Lignite Plant Overview ◼ Installed Capacity: 270 MW ◼ CoD: 2015 ◼ 2 units of SES-Tlmace boilers ◼ 2 units of Skoda Steam Turbines MTD
Slide 8: Northern Cyprus – PP Key Highlights
Northern Cyprus - PP Key Highlights USD BASED CAPACITY CHARGE SUPPORTIVE OF MARGINS Nothern Cyprus Power Plant Location Technical Overview ◼ Energy Source: Liquid Fuel (Combined Cycle) ◼ Installed Capacity: 188 MW Plant Overview ◼ CoD: 2003 ◼ Contract Expiry: 2038 ◼ Cost-plus pricing mechanicsm ◼ 10
Slide 9: Tashkent & Bukhara PP – Key Highlights
Tashkent & Bukhara PP – Key Highlights USDTashkent BASED CAPACITY CHARGE A, B and WITH ADDITIONAL Bukhara EBITDA Power Plants EXPECTATION – Key HighlightsIN 2025 Uzbekistan Power Plants’ Locations Technical Overview ◼ Energy Source: Natural Gas (CCGT) ◼ Installed Capacity: 740 MW (A: 240 MW; B: 230
Slide 10: Africa Operations – Key Highlights
Africa Operations – Key Highlights FUELPower Mali IS PASS Plant THROUGH IN ALL – Key OF OUR OVERSEAS OPERATIONS Highlights Africa Power Plants’ Locations Technical Overview ◼ Energy Source: Natural Gas + Liquid Fuel ◼ Installed Capacity: 370 MW Plant Overview ◼ Fuel cost pass-through mechanism ◼ Tak
Slide 11: Future Strategy and Pipeline
Pipeline FUTURE Mali STRATEGY Power PlantAND PIPELINE – Key Highlights Building Another Aksa Energy within 5 years (85% growth in installed capacity) +255MW +430MW +891MW +179MW +240MW +50MW +171MW +35MW Bolu-Göynük Talimarjon Senegal 470 Türkiye 241 4,813 MW 4,810 MW 35 MW SPP 430 MW CCGT 255 814 M
Slide 12: Consolidated Summary Income Statement
Annex CONSOLIDATED SUMMARY INCOME STATEMENT 1H24 1H23 y/y MM TL Net sales 12,333 24,957 -51% Cost of sales (9,842) (19,750) -50% Gross Profit 2,491 5,208 -52% General & administrative costs (603) (476) 27% Marketing expenses (43) (10) 342% Other operating income 319 228 40% Other operating expenses
Slide 13: Consolidated Summary Balance Sheet
Annex CONSOLIDATED SUMMARY BALANCE SHEET 1H24 YE23 ytd MM TL Cash and cash equivalents 1,247 991 26% Trade receivables 9,455 16,876 -44% Inventories 1,888 1,118 69% Total Current Assets 14,770 21,317 -31% PP&E 45,240 43,676 4% Intangibles 1,276 1,380 -8% Total Non-current Assets 53,779 48,290 11% To
Slide 14: 2024 Guidance
Annex 2024 GUIDANCE 2023 FINANCIAL 2024 GUIDANCE ACTUAL COMPOSITION COMPOSITION INDICATORS (MM TL) (MM TL) 24% 38% 62% 76% Domestic Foreign NET SALES 35,172 Domestic Foreign 27,215 36% 23% 64% 77% Domestic Foreign EBITDA 7,901 7,795 Domestic Foreign 21% 22% 23% 57% 7% 71% Africa Domestic Asia CAPEX
Slide 15: Contact Information
Contact Information INVESTOR RELATIONS Sena Atay Pınar Saatçioğlu Investor Relations Investor Relations and Manager Sustainability Director investorrelations@aksaenerji.com.tr +90 216 681 1053 Rüzgarlıbahçe Mh . Özalp Çıkmazı No:10 Kavacık / Beykoz Istanbul Aksa Enerji Üretim A.Ş. https://www.aksain
Slide 16: 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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