Alarko Holding A.s. · BIST:ALARK
Alarko Holding A.s — Q3 2024 Earnings Presentation
33 slides from Alarko Holding A.s's earnings presentation, 2024
Slide 1: Q3 2024 Investor Presentation
Q3 2024 Investor Presentation
Slide 2: Alarko Holding: Powerful and Reputable Holding Rising Worldwide
Alarko Holding Powerful and Reputable Holding Rising Worldwide • Founded in 1954 by İshak Alaton and Üzeyir Garih • One of the pioneers in the stock exchange listed since 1974 • Leading industrial experience with 70 years • 7 different fields of activity • Energy • Construction • Land Development •
Slide 3: Alarko Holding
Alarko Holding Market Cap. Last 3 month Avg Volume Listed Companies Free Float (in TL mn)* (in TL mn) Alarko %37.1 41.064 468 Alarko Carrier %15,9 10.530 58 Alarko GYO %48,8 5.802 38 as of 30.09.2024 İzzet Garih %17,7 Free Float %37,1 Vedat A. Alaton %14,3 Other %3,1 Leyla Alaton %14,8 Dalia Garih %
Slide 4: Current Operations
Current Operations Power Production & Distribution Construction Land Development Industry & Trade Altek (%100) Alcen (%50) Alen (%100) Alsim (%100) Alarko GYO (%51) Alarko Carrier (%43) 2023 Share in Combined Revenue: %80 2023 Share in Combined Revenue : %10 2023 Share in Combined Revenue : %0 2022
Slide 5: Power: Generation
Current Operations Power Access to full potential via Generation & Distribution… Generation • Total of 1.539 MW installed capacity, implying 2% of Turkey’s installed capacity • Power plants: • 2 Hydro (86 MW -%100 Ownership) • 1 Solar (51 MW- %50 Ownership) • 1 Imported Coal Power Plant (1,320 MW- %
Slide 6: Power: Distribution & Retail
Current Operations Power Focused on serving the entire energy sector… Distribution & Retail • Took over Meram through privatization in 2009 by paying 440 mn USD (License Expiry: August 2036) • Covers 6 provinces- 10% of Turkey’s total area • Reaching close to 2,4 mn electricity subscribers every day
Slide 7: Land Development
Current Operations Land Development Accumulated experience of over 50 years… • First listed REIT in the stock exchange • Negotiates the contracts with landowners on a revenue or profit sharing basis • Seeks hotels and resorts with high potential • Sustainable rental revenue of c. 10 mn USD per year
Slide 8: Tourism
Current Operations Tourism Dedicated to making people feel good… • Operates city club and hotels in Turkey, under the brand “Hillside” • Hillside beach club – introduced the leisure concept in Turkey with 330 rooms & 781 bed capacity • Occupancy rate of 76% in 2023 • Repeat guest rate of 76% • Targe
Slide 9: Industry & Trade
Current Operations Industry & Trade Raises the bar in the industry with a perfectionist approach… • Formed an Equal- share partnership with Carrier in 1998 (%42 each) • Fields of business include heating, cooling, ventilation, and water pressurization • Extensive and strong sales and service network
Slide 10: Construction
Current Operations Construction The power that transforms into the future… • Expertise covers airports, rail systems, infrastructure works, industrial facilities, business centers, hotels, and hospitals • Aims to be the first choice in international projects by leveraging its know-how and quality in
Slide 11: Strategy
Strategy
Slide 12: Revisited 2030 Vision
Alarko Target Revision NAV- 1.1 NAV- 3.0 BLN USD* BLN USD* 2030 Vision Breakdown of Activities * As of initiation of vision dated back January 1st 2022 Land Power ContructionDevelopment Industry Tourism %81 %4 %6 %3 %5 Revisited 2030 Vision NAV- 4.0 BLN USD* New Target - 2028 Organic New Business In
Slide 13: Organic & Inorganic Growth
Growth Opportunities Organic & Inorganic Growth… Power Land Development Industry & Trade Portfolio Development Plans Leisure Focused Investments Water Pressurization System, BESS Investments Leveraging Hillside Brand via Water Pump, and Broiler New Acq. Investments Alarko Agriculture Alarko Investme
Slide 14: Agriculture
New Operations Agriculture 360 Degree Value Creation… • Alarko Holding, as of 2023, has designated “Agriculture” as a strategic and priority sector • Alarko Tarım conducts its operations under 4 segments: Greenhouses, Fertilizers, Seeds, and Food Processing • Aiming to be in the top 3 in the world i
Slide 15: Investment
New Operations Investment Value creation through diversified investment strategy… • The ALSER portfolio was established in July 2023 Equity Fund Investments Public Equity: • Active in the capital markets with a portfolio investment of 1.7 bn TL as of 9M 2024 • An annual investment of 20 mn USD is al
Slide 16: Energy – BESS Investment
New Operations Energy – BESS Investment Innovating and creating the next generation of battery technology… • Partnership with one of the world’s leading battery manufacturer Gotion • Transfer of know-how, along with establishment of R&D center in Turkey together • Exclusivity in Turkey, export poten
Slide 17: The goal is for the Holding to become a portfolio management center
In 2028 The goal is for the Holding to become a portfolio management center and to increase its value to 4 bn USD Balanced Portfolio 17 | Alarko Q3 2024 Investor Presentation
Slide 18: Existing Operations, New Business Lines, Alarko Investment
In 2028 Existing Operations New Business Lines Alarko Investment %55 %35 %10 18 | Alarko Q3 2024 Investor Presentation
Slide 19: Holding Land Portfolio: Assets that will uncover
Holding Land Portfolio Assets that will uncover… Alarko Holding Land Portfolio (TL mn) – 31.12.2023 Adj. Book Expertise Value Land in Antalya - 225,8 Land in Sariyer – Istanbul - 549,8 Offices in Istanbul - 18,5 Investment Properties Land in Buyukcekmece – Istanbul - 6,8 Offices in Adana - 6,5 Total
Slide 20: Financials
Financials
Slide 21: Combined Financial Results: Revenue
Combined Financial Results 47.054 Combined Revenue (TL mn)* 2.746 7.248 31.461 1.999 20.598 21.671 4.432 882 12.817 2.371 15.622 10.546 728 1.018 7.012 13.426 5.620 6.967 2.683 Q3 2023 Q3 2024 9M 2023 9M 2024 Power Gen. Power Dist&Retail Construction Land Dev. Industrial Holding Tourism Agriculture
Slide 22: Combined Financial Results: EBITDA
Combined Financial Results Combined EBITDA (TL mn)* 17.237 717 745 575 10.247 7.512 7.799 634 320 5.650 636 75 47 5.351 584 152 4.147 7.294 3.379 3.357 2.481 1.348 -144 -98 Q3 2023 Q3 2024 9M 2023 9M 2024 Power Gen. Power Dist&Retail Construction Land Dev. Industrial Holding Tourism Agriculture 22 |
Slide 23: Combined Financial Results: Net Profit
Combined Financial Results 1.572 4.304 Combined Net Profit (TL mn)* 101 837 242 502 440 59 413 140 2.019 1.645 12 1.438 494 94 62 -155 -1 -331 -255 -626 -685 -844 -140 -9 -927 -94 Q3 2023 Q3 2024 9M 2023 9M 2024 Power Gen. Power Dist&Retail Construction Land Dev. Industrial Holding Tourism Agricultu
Slide 24: Power Generation Operations in the Quarter
Power Generation Operations in the Quarter 6.862.983 7.012.293 13.426 Net Power Generation (KWh)* Revenue (TL mn)* 70.386 67.828 2.732.036 2.883.267 6.967 6.680.910 6.823.761 5.620 5.293 1.287 2.682.492 2.840.402 2.683 Q3 2023 Q3 2024 9M 2023 9M 2024 Q3 2023 Q3 2024 9M 2023 9M 2024 Cenal Karakuz HES
Slide 25: Power Distribution & Retail Operations in the Quarter
EBITDA (TL mn)* 7.512 Power Distribution & Retail Operations in the Quarter 5.351 4.147 3.379 Revenue (TL mn)* 21.671 Q3 2023 Q3 2024 9M 2023 9M 2024 15.622 Net Profit (TL mn)* 1.771 10.546 1.645 7.012 62 Q3 2023 Q3 2024 9M 2023 9M 2024 Q3 2023 Q3 2024 9M 2023 9M 2024 -199 25 | Alarko Q3 2024 Invest
Slide 26: Construction Operations in the Quarter
Construction Operations in the Quarter EBITDA (TL mn)* 526 Revenue (TL mn)* 276 224 7.248 74 Q3 2023 Q3 2024 9M 2023 9M 2024 4.432 Net Profit (TL mn)* Q3 -1 2023 Q3 2024 9M 2023 9M 2024 2.371 1.018 -626 Q3 2023 Q3 2024 9M 2023 9M 2024 -844 -927 26 | Alarko Q3 2024 Investor Presentation • The figures
Slide 27: Land Development Operations in the Quarter
Land Development Operations in the Quarter EBITDA (TL mn)* 575 320 Revenue (TL mn)* 152 80 47 75 Q3 2023 Q3 2024 9M 2023 9M 2024 Net Profit (TL mn)* 59 27 20 Q3 2023 Q3 2024 9M 2023 9M 2024 -94 -140 Q3 2023 Q3 2024 9M 2023 9M 2024 -255 27 | Alarko Q3 2024 Investor Presentation • The figures represen
Slide 28: Industry Operations in the Quarter
Industry Operations in the Quarter EBITDA (TL mn)* 247 Revenue (TL mn)* 2.746 63 46 49 Q3 2023 Q3 2024 9M 2023 9M 2024 1.999 Net Profit (TL mn)* Q3 2023 Q3 -1 2024 9M 2023 9M 2024 882 728 -110 -126 Q3 2023 Q3 2024 9M 2023 9M 2024 28 | Alarko Q3 2024 Investor Presentation -173 • The figures represent
Slide 29: Tourism Operations in the Quarter
Tourism Operations in the Quarter EBITDA (TL mn)* 717 636 634 584 Revenue (TL mn)* 1.634 1.593 Q3 2023 Q3 2024 9M 2023 9M 2024 1.031 997 Net Profit (TL mn)* 624 494 502 423 Q3 2023 Q3 2024 9M 2023 9M 2024 Q3 2023 Q3 2024 9M 2023 9M 2024 29 | Alarko Q3 2024 Investor Presentation • The figures represe
Slide 30: Agriculture Operations in the Quarter
Agriculture Operations in the Quarter EBITDA (TL mn)* 94 92 72 57 Revenue (TL mn)* 607 Q3 2023 Q3 2024 9M 2023 9M 2024 Net Profit (TL mn)* 413 273 147 101 101 12 Q3 2023 Q3 2024 9M 2023 9M 2024 -9 Q3 2023 Q3 2024 9M 2023 9M 2024 30 | Alarko Q3 2024 Investor Presentation • The figures represent the c
Slide 31: Combined & Consolidated Financial Results
Combined & Consolidated Financial Results… Combined P&L (TL mn)* Q3 2024 Q3 2023 Change 9M 2024 9M 2023 Change Revenue 12.817 20.598 (38%) 31.461 47.054 (33%) EBITDA 5.650 7.799 (28%) 10.247 17.237 (41%) EBITDA Margin 44% 38% 32% 37% Net Profit 1.572 140 242 4.304 • The figures represent the combine
Slide 32: Consolidated Financial Results: Balance Sheet
Consolidated Financial Results… Consolidated Balance Sheet (TL mn)* 2023 Q3 2024 Change Assets 80.645 84.550 5% Current Assets 21.337 18.563 (13%) Cash & Cash Equivalents 4.448 4.150 (7%) Financial Investments 8.777 6.351 (28%) Non-current Assets 59.308 65.987 11% Liabilities Current Liabilities 17.
Slide 33: Disclaimer
Disclaimer Alarko Holding A.S. (the“Company”) has prepared this presentation (the “Presentation”) in order to provide investors with general information about the Company. The contents of this Presentation is based on public information and on data provided by the Company’s management. Neither the C