Global Yatirim Holding A.s. · BIST:GLYHO
Global Yatirim Holding A.s — Global Investment Holdings — 9M 2024 Earnings Presentation
34 slides from Global Yatirim Holding A.s's earnings presentation, 2024
Slide 1: Global Investment Holdings Financial Presentation 9M 2024
GLOBAL INVESTMENT HOLDINGS Financial Presentation 9M 2024
Slide 2: Corporate Portfolio
Corporate Portfolio
Slide 3: Corporate Portfolio
G GLOBAL INVESTMENT HOLDINGS a INVESTMENT HOLDINGS c= —_ GS GLOBAL PORTS HOLDING 90.3% The world's largest independent cruise port operator = 4continents and 19 countries = 32 ports* = Delisted from LSE in Aug 2024, turning into a private company *Concession agreements for 2 ports ( Bremerhaven and
Slide 4: I – Financial Review
INVESTMENT HOLDINGS
Slide 5: Financial Highlights
Financial Highlights as per IAS29 Net revenues (mn TL) Q1 242 Q2 242 Q3 24 9M 24 9M 23 % Change Gas 1,616.5 917.8 1,119.9 3,654.1 4,037.8 -10% Power 341.9 330.3 310.1 982.3 1,199.8 -18% Mining 140.9 122.1 125.5 388.5 497.9 -22% Ports1 1,462.7 2,185.9 2,447.6 6,096.2 4,937.6 23% Brokerage&Asset Manag
Slide 6: Financial Highlights (as per IAS29)
GIH Total 1,315.2 1,842.4 2,012.6 5,170.1 4,571.9 13% 1 Revenues exclude the impact of IFRIC 12 on Cruise Ports amounting to 767.8mn TL for 9M 2024 and 994.6mn TL for 9M 2023 2 Q1 2024 and Q2 2024 figures are indexed to 9M 2024 as per IAS 29 . Financial Highlights (as per IAS29) 6
Slide 7: Change in Revenue & EBITDA
G GLOBAL mmm JNVESTMENT HOLDINGS Change in Revenue & EBITDA
Slide 8: Revenue and EBITDA (mn TL)
Revenue (mn TL)1 EBITDA (mn TL) 8
Slide 9: Financial Highlights: Change in P&L
1 Revenues exclude the impact of IFRIC 12 on Cruise Ports amounting to 767.8mn TL for 9M 2024 and 994.6mn TL for 9M 2023 Financial Highlights: Change in P&L ▪ GIH reported a consolidated net profit of 1,100.1mn TL in 9M 2024, compared to a net profit of 596.6mn TL in 9M 2023, indicating 84% increase
Slide 10: * The amounts for the years 9M 2023 and 9M 2024 are presented as
* The amounts for the years 9M 2023 and 9M 2024 are presented as per IAS 29. 10
Slide 11: Net Debt/EBITDA (as per IAS29)
Net Debt/EBITDA (as per IAS29) 11
Slide 12: Net Debt/EBITDA commentary
➢ As a result of the project financing for the San Juan and St. Lucia ports, Net Debt rose by 117mn USD. However, with only 7.3mn USD of EBITDA from these ports being consolidated in the financial statements for the first nine months of the year, the Net Debt/EBITDA ratio has increased post-2023. ➢
Slide 13: Ports Division: Global Ports Holding Plc (GPH)
III – FINANCIAL & OPERATIONAL PERFORMANCE BY DIVISION Ports Division: Global Ports Holding Plc (GPH) Total Calls Cruise Occupancy Ratio 108% 104% 105% 107% 113% 100% 98% Jan Feb Mar Apr May Jun July Aug Sep 2023 2024 Jan Feb Mar April May June July Aug 2023 2024
Slide 14: Ports Division: Total Pax
Total Pax ➢ Number of calls at GPH`s consolidated ports in Jan-Sep 2024 was 23% higher than Jan-Sep 2023 levels, while number of passengers visiting GPH`s consolidated ports in Jan-Sep 2024 was 30% higher than 2023 levels. ➢ Average occupancy rates of the cruise ships visiting GPH`s consolidated por
Slide 15: Cruise industry demand in Q3 2024
▪ The cruise industry continued to experience strong demand in Q3 2024 with booking volumes surpassing 2023 levels, marking record numbers for 2024 sailings. In line with this, strong demand and occupancy rates are also expected for 2025, at levels proportional to or even exceeding those of previous
Slide 16: GPH delisted from the London Stock Exchange
▪ As of 09 August 2024, GPH has been delisted from the London Stock Exchange and transitioned into a private company. As part of the delisting of GPH and following the tender offer made in this regard, our Group has purchased a total of 23,835,233 GPH shares at a price of 4.02 USD per share. Additio
Slide 17: Global Ports Holding Plc (GPH)
Revenue (mn TL)1 6.096 23% 4.938 9M 23 9M 24 Global Ports Holding Plc (GPH) EBITDA (mn TL) 3.882 3.190 22% 9M 23 9M 24 1
Slide 18: Global Investment Holdings
G GLOBAL INVESTMENT HOLDINGS 10
Slide 19: Gas Division: Naturelgaz
Volume (mn sm3) 215 173 24% 9M 23 9M 24 EBITDA (mn TL) 690 691 9M 23 9M 24 Net Profit (mn TL) 215 139% 90 19 Gas Division: 9M 23 9M 24 Naturelgaz
Slide 20: Gas division sales volume and results
Sales volume reached 215mn Sm3 in 9M 2024, representing an increase of 24% yoy. ➢ Citygas sales volume increased by 35% yoy, reaching 100mn Sm3 . The number of districts and towns ▪ reached 129 by the end of Sep 2024. ▪ Due to inflation accounting and decline in natural gas prices, revenues decrease
Slide 21: Power Generation: Distributed Energy, Biomass and Solar
▪ Naturelgaz continues its international project development activities within the scope of the implementation of its current business model abroad. Power Generation: Distributed Energy, Biomass and Solar Total Installed Capacity 97.6 MW The power division will have increased its total installed cap
Slide 22: Power division international projects
➢ In line with the strategy to create synergies with GPH’s port network across 4 continents, 19 countries and 32 ports, an MoU has been Biomass; 27.5 ▪ signed in Antigua and Barbuda for a 5MWp solar project with feed-in-tariff for 30 years. Power purchase agreement is under ➢ discussion. 43.5 MW ▪ C
Slide 23: Mining Division: Straton
▪ EBITDA decreased by 5% to 292mn TL in 9M 2024 yoy. 9M 23 9M 24 12 Mining Division: Straton Revenue (mn TL) 498 -%22 389 9M 23 9M 24 ▪ The Company, because of the decline in demand from the local and European markets, reported a sales volume of 191,513 tons in 9M 2024, representing a 28% decrease y
Slide 24: Mining EBITDA and volume
▪ The Company’s main export markets continued to be Spain, Italy and Egypt. Export related sales volume EBITDA (mn TL) was 147,046 tons while domestic sales volume was realized at 44,467 tons for the period. 109 89 ▪ The mining division announced revenues of 389mn TL in 9M 2024 with 22% decrease. -1
Slide 25: Real Estate Division: Ardus
Real Estate Division: Ardus 25
Slide 26: Real Estate Division results and projects
The Real Estate division's revenues include rent revenues and residential/commercial sales revenues. > The real estate division registered 4% decrease in revenues and 7% increase in EBITDA in 6M 2024 yoy, with revenues and EBITDA standing at 158mn TL and 78mn TL, respectively. Stmerpark Real Estate
Slide 27: Asset Management & Brokerage Division
Asset Management & Brokerage Division: Istanbul Asset Management & Global Securities & Global MD 27
Slide 28: Brokerage and asset management results
(2 GLOBAL | = Revenues of the brokerage and asset management division consists of securities brokerage commissions, interest revenues on margin lending transactions, portfolio management fees, proprietary trading revenues and advisory fees . The brokerage & asset management division revenues stood a
Slide 29: IV – Appendix
G GLOBAL mmm JNVESTMENT HOLDINGS IV - APPENDIX
Slide 30: Balance Sheet (as per IAS29)
Balance Sheet (as per IAS29) (TL Million) 30 Sep 2024 31 Dec 2023 ASSETS Current assets 14,872.7 12,036.7 Cash and banks 8,342.0 5,972.4 Marketable securities 1,033.2 949.9 Trade and other receivables 2,904.9 2,699.0 Inventories 660.1 786.0 Other current assets 1,932.5 1,629.4 Non-current assets 49,
Slide 31: Income Statement (as per IAS29)
Accrued liabilities and other payables 1,932.2 2,426.0 Long term liabilities 41,558.8 34,044.5 Financial debt 36,505.3 28,453.0 Lease liabilities (1) 2,375.9 2,504.1 Provisions and other long term liabilities 611.7 642.6 Deferred tax liabilities 2,065.9 2,444.9 Total shareholders' equity 11,578.9 14
Slide 32: Income Statement (continued)
Other operating income/(loss), net 143.23 149.80 Equity pickup asset gain/(loss) 128.95 209.93 Gross operating profit/(loss) 3,288.47 3,078.34 Financial income/(expense), net -1,049.01 131.86 Profit/(loss) before tax 2,239.46 3,210.20 Taxation -258.56 -1,759.09 Profit/(loss) after tax 1,980.90 1,451
Slide 33: Disclaimer
Disclaimer The information contained in this document has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this docum
Slide 34: Investor Relations contact
For further information, please contact: Investor Relations Global Yatırım Holding A.Ş. Büyükdere Cad. No: 193 Şişli 34394 Istanbul, Turkey Google Maps: 41.07961,29.01141 Phone: +90 212 244 60 00 Email: investor@global.com.tr Website: www.globalyatirim.com.tr facebook.com/GLYHOIR twitter.com/GLYHOIR
Global Investment Holdings — 9M 2024 Earnings Presentation on 6ix