Enka Insaat Ve Sanayi A.s. · BIST:ENKAI
Enka Insaat Ve Sanayi A.s — Q3 2024 Earnings Presentation
41 slides from Enka Insaat Ve Sanayi A.s's earnings presentation, November 2024
Slide 1: 3Q 2024 Presentation
Engineering for a Better Future. 3Q 2024 PRESENTATION Construction Real Estate Power Generation Trade
Slide 2: Introduction
INTRODUCTION Engineering for a Better Future. Experience Synergy 67 years of construction Group of companies composed of experience worldwide more than 50 subsidiaries operating in 7 major geographical areas: Reliability 580 projects in 55 countries CIS, Asia, Middle East, Europe, have been complete
Slide 3: Commitments: Mission, Vision, Values
COMMITMENTS Engineering for a Better Future. Our Mission Our Vision Our Values to design, build and deliver to be one of the best define how we do work safe, high-quality, and cost- and innovative at ENKA. We will not effective construction engineering & undertake or execute a projects on schedule f
Slide 4: Sustainability
SUSTAINABILITY Engineering for a Better Future. ENKA, which operates in different sectors such as engineering and construction, energy, real estate and trade in many different geographies, has made a commitment to serve sustainable development in all its operations. The approach which ENKA has adopt
Slide 5: Our Business and Principles
SUSTAINABILITY Engineering for a Better Future. Our Business and Principles ENKA, • Maintains an Ethics & Compliance Program to ensure open, honest and transparent communication with all stakeholders in accordance with applicable national & international laws and regulations, as well as company valu
Slide 6: Our People and Community
SUSTAINABILITY Engineering for a Better Future. Our People and Community ENKA, • Respects human rights and assesses the human rights impacts of its investments and operations as part of its social impact assessment process. • Includes its stakeholders in the decision-making mechanisms of the company
Slide 7: Our Planet
SUSTAINABILITY Engineering for a Better Future. Our Planet ENKA, • Assesses, measures and reports its environmental impacts and develops plans and procedures to reduce them. • Commits to reach net zero emissions in its operations by 2050 and takes actions to reduce direct and indirect emissions from
Slide 8: Shareholder Ownership
SHAREHOLDING Engineering for a Better Future. SHAREHOLDER OWNERSHIP 2,29% TARA HOLDİNG A.Ş. 49,80% ENKA TREASURY STOCK 8,66% VİLDAN GÜLÇELİK FREE FLOAT AND OTHERS 51,79% 7,99% SEVDA GÜLÇELİK TARA FAMILY 6,43% ENKA FOUNDATION ENKA FOUNDATION 5,87% 5,87% ALİ GÜLÇELİK 4,50% MİKADO REAL ESTATE INVESTMEN
Slide 9: Financial Highlights
FINANCIAL HIGHLIGHTS Engineering for a Better Future. 9M 2024 2023 2022 2021 2020 TOTAL ASSETS 9.973 9.408 8.581 9.102 8.454 TOTAL EQUITY 7.682 7.325 6.471 6.675 6.694 CASH & MARKETABLE SECURITIES 5.325 5.195 4.597 5.265 4.406 REVENUE 2.136 3.226 3.731 2.859 1.659 EBITDA 465 647 820 686 386 EBITDA M
Slide 10: Revenues by Business Lines
REVENUES BY BUSINESS LINES Engineering for a Better Future. 9M 2024 2023 2022 2021 2020 USD % USD % USD % USD % USD % CONSTRUCTION 1.588 74,3 2.042 63,3 1.933 51,8 1.569 54,9 1.263 76,1 POWER GENERATION 180 8,4 701 21,7 1.298 34,8 797 27,9 0 0,0 REAL ESTATE 252 11,8 324 10,0 344 9,2 304 10,6 289 17,
Slide 11: EBITDA by Business Lines
EBITDA BY BUSINESS LINES Engineering for a Better Future. 9M 2024 2023 2022 2021 USD % MRG USD % MRG USD % MRG USD % MRG CONSTRUCTION 266 57 17 346 53 17 483 59 25 385 56 25 POWER GENERATION (7) (2) (4) 5 1 1 92 11 7 67 10 8 REAL ESTATE 152 33 60 220 34 68 194 24 56 194 28 64 TRADE 54 12 26 75 12 27
Slide 12: Share Capital Increases
SHARE CAPITAL INCREASES Engineering for a Better Future. DATE PREVIOUS SHARE INCREASE INCREASE (%) INCREASED SHARE CAPITAL CAPITAL 25.02.2012 2.500 300 12,00 2.800 12.06.2013 2.800 400 14,29 3.200 21.05.2014 3.200 400 12,50 3.600 06.05.2015 3.600 400 11,11 4.000 23.05.2016 4.000 200 5,00 4.200 27.04
Slide 13: Dividend Payments
DIVIDENT PAYMENTS Engineering for a Better Future. YEAR DATE GROSS RATE NET RATE CASH DIVINDEND D.P.F.S.* TL USD TL USD 2023 03.01.2024 50,00% 45,00% 3.000 101,1 0 0 14.05.2024 125,00% 114,62% 7.500 233,3 129,0 4,0 2023 TOTAL 10.500 334,4 129,0 4,0 2022 12.04.2023 36,33% 33,24% 2.180 116,2 35,6 1,9
Slide 14: Share Buyback
SHARE BUYBACK Engineering for a Better Future. DECISION TAKEN ACTION SHARE AMOUNT BOUGHT NUMBER OF TOTAL SHARES PERCENTAGE JULY 2016 SHARE BUYBACK 8,4 Million 4,2 Billion 0,20% JULY 2017 SHARE BUYBACK 4,6 Million 4,6 Billion 0,10% AUGUST 2017 SHARE BUYBACK 4,6 Million 4,6 Billion 0,10% JANUARY 2018
Slide 15: Achievements & Awards
ACHIEVEMENTS & AWARDS Engineering for a Better Future. YAJVA ADMIRED COMPANY ENKA’s 411 MW CCPP Yajva State District Power "Most Admired Construction Company of Plant EPC Project has been awarded “the Best Turkiye awards" for the years 2005 - 2012 by Project in the Power/Industrial Category” in 2013
Slide 16: Achievements & Awards
ACHIEVEMENTS & AWARDS Engineering for a Better Future. RISK MANAGEMENT GLOBAL Turkish Power Company ENKA POWER has world ENKA’s EPC Project, Sulaymaniyah 1.500 MW class risk management article which praises ENKA's Combined Cycle Power Plant Project was commitments and achievements in protecting the
Slide 17: Engineering & Construction
ENGINEERING & CONSTRUCTION Engineering for a Better Future. The fields of Engineering & Construction activities ENKA’s global solutions span the entire project life cycle: are; ➢ Oil & Gas Facilities, Pipelines ➢ Engineering ➢ Petrochemical Plants ➢ Fabrication ➢ Power Plants ➢ Procurement ➢ Industr
Slide 18: Backlog
BACKLOG Engineering for a Better Future. COUNTRY BACKLOG % Libya 984 16,9% Special Projects 942 16,2% North Macedonia 741 12,8% Serbia 537 9,2% * The group «Others» consists of the following countries: United Kingdom 482 8,3% Bahamas, Brazil, China, France, Hungary, Italy, Mongolia, Germany 387 6,7%
Slide 19: North Benghazi 1320 MW Simple Cycle Power Plant
PROJECTS Engineering for a Better Future. North Benghazi 1320 MW Simple Cycle Power Plant Job owner : General Electricity Company of Libya (GECOL) The contract was signed between General Electricity Company of Libya (GECOL) and ENKA on May 27th, 2024. The project entails the construction of a simple
Slide 20: Propylene Splitter Unit Project
PROJECTS Engineering for a Better Future. Propylene Splitter Unit Project - Izmit & Izmir Refineries Job owner : TÜPRAŞ ENKA signed contracts with TÜPRAŞ (Türkiye Petrol Rafinerileri A.Ş.) for the Propylene Splitter Unit Project for İzmit Refinery and İzmir Refinery on 24.04.2024. ENKA will carry ou
Slide 21: FGP 3GP Installation Works, Tengiz
PROJECTS Engineering for a Better Future. FGP 3GP Mechanical, Electrical & Instrumentation Installation Works Tengiz, Kazakhstan Job owner : Tengizchevroil Contractor : Senimdi Kurylys (Bechtel – ENKA Joint Venture with equal shares) Senimdi Kurylys LLP has been awarded a contract for mechanical, el
Slide 22: Morava Corridor Motorway Project
PROJECTS Engineering for a Better Future. Morava Corridor Motorway Project Pojate – Preljina, Serbia Job owner : Government of the Republic of Serbia Ministry of Construction, Transport and Infrastructure ENKA and its joint venture partner Bechtel have been selected by the Government of the Republic
Slide 23: Corridor 8 & 10d Motorway Project
PROJECTS Engineering for a Better Future. Corridor 8 & 10d Motorway Project, North Macedonia Job owner : Public Enterprise for State Roads and the Ministry of Transport and Communications on behalf of the Government of the Republic of North Macedonia ENKA, with its joint-venture partner Bechtel, wil
Slide 24: Shotton Paper Mill, United Kingdom
PROJECTS Engineering for a Better Future. Shotton Paper Mill, United Kingdom Job owner : Shotton Mill Limited (Modern Karton/EREN Holding) ENKA signed a contract for the construction of a Paper Mill Factory on the Dee Estuary in Flintshire, North Wales for Shotton Mill Limited owned by Modern Karton
Slide 25: Hinkley Point C Piping Works
PROJECTS Engineering for a Better Future. Hinkley Point C Nuclear Power Plant – Prefabrication, installation & erection of piping systems of power island - England Job owner : GE Steam Power Ltd. ENKA UK Construction Ltd., a subsidiary of ENKA İnşaat ve Sanayi A.Ş., is contracted by one of the main
Slide 26: Dradenau Combined Heat and Power Plant
PROJECTS Engineering for a Better Future. Dradenau Combined Heat and Power Plant - Germany Job owner : Wärme Hamburg GmbH On 15 September 2021, ENKA with its JV partner Uniper signed a contract with Waerme Hamburg GmbH for the turnkey construction of approximately 180 MW electric and district heatin
Slide 27: Stade LNG Regasification Terminal
PROJECTS Engineering for a Better Future. STADE LNG Regasification Terminal Job owner : Hanseatic Energy Hub GmbH ENKA’s wholly owned subsidiary Entrade GmbH, in a consortium formed together with Técnicas Reunidas and FCC Industrial, signed an Engineering, Procurement and Construction (EPC) contract
Slide 28: Oyu Tolgoi Underground Project
PROJECTS Engineering for a Better Future. Oyu Tolgoi Underground Project Job owner : Oyu Tolgoi LLC ENKA’s involvement in the project commenced with the Early Tenderer Involvement phase and subsequently, ENKA was awarded the contract for SMPE&I construction works following a competitive tender proce
Slide 29: Engineering Fabrication
ENGINEERING FABRICATION Engineering for a Better Future. ÇİMTAŞ, a subsidiary of ENKA, is a leading provider of integrated engineering, procurement, welded fabrication, assembly and installation solutions for top-tier global customers. ÇİMTAŞ was incorporated in 1973 in Turkey as a local steel fabri
Slide 30: Engineering Fabrication
ENGINEERING FABRICATION Engineering for a Better Future. 30/40
Slide 31: Engineering Foundation
ENGINEERING FOUNDATION Engineering for a Better Future. KASKTAŞ, wholly owned subsidiary of Deep Foundations Deep Excavations ENKA, was established in 1957 as the piling group of ENKA. Having a vast and modern machinery and equipment fleet, KASKTAŞ has the ability to fulfill diverse requirements in
Slide 32: Real Estate
REAL ESTATE Engineering for a Better Future. TYPE NET LEASABLE AREA OCCUPANCY RATE [USD] All assets are located in Moscow, Class A except 1 shopping center which is Office Area 392.000 m2 98% 500 located in St.Petersburg. Retail * Occupancy and rate of rooms of the hotel may vary daily. Area 371.000
Slide 33: Real Estate: Retail and Office Locations
REAL ESTATE Engineering for a Better Future. RETAIL ( 368.000 m2 ) 1 Leningradsky 2 Kuntsevo Plaza 3 Maryina Roshcha 1 4 Kashirskaya 5 Sevastopolsky 3 6 Vernadskogo 12 16 15 9 2 7 Belyaevo 4 13-14 8 Podolsk 6 5 7 9 Orekhovo-Zuyevo 10 Sergiev Posad 11 Pionerski (St. Petersburg) OFFICE ( 389.000 m2 )
Slide 34: Real Estate: Rental Revenue and EBITDA
REAL ESTATE Engineering for a Better Future. YEAR RENTAL REVENUE EBITDA EBITDA MARGIN 9M 2024 252 152 60,3% 2023 324 220 67,9% 2022 344 194 56,4% 2021 304 194 63,8% 2020 289 187 64,7% 2019 346 213 61,6% 2018 329 204 62,0% 2017 319 193 60,5% All figures given above are in Million US Dollars 34/40
Slide 35: Real Estate
REAL ESTATE Engineering for a Better Future. 35/40
Slide 36: Power Generation
POWER GENERATION Engineering for a Better Future. 3 Gas-Fired Combined Cycle Power Plants Gebze, Adapazarı and Izmir with a total capacity of almost 4,1 Gigawatts Developed under the ‘BUILD-OWN-OPERATE’ programme and Annual generation capacity is 32 Billion Kwh net and the annual natural gas consump
Slide 37: Power Generation: New Investment Projects
POWER GENERATION Engineering for a Better Future. New Investment Projects ENKA Kırklareli Combined Cycle Power Plant Kameno Solar Photovoltaic Power Plant The new investment project is fully owned by ENKA. ENKA has taken another step towards the renewable It will be financed by its own sources. The
Slide 38: Power Generation: Turkey Electricity Consumption by Source
POWER GENERATION Engineering for a Better Future. YEAR 2022 2023 Million Kwh % Million Kwh % COAL 113,616 36.5 118,173 38.2 HYDRO 66,606 21.4 63,663 20.6 NATURAL GAS 71,864 23.1 66,377 21.5 WIND 34,561 11.1 33,719 10.9 GEOTHERMAL 10,223 3.3 10,114 3.3 OTHERS 11,719 3.8 13,343 4.3 INTERNATIONAL [NET]
Slide 39: Power Generation: Turkey Electricity Demand
POWER GENERATION Engineering for a Better Future. BILLON KWH CHANGE 320 12% 10% 280 8% 240 6% 200 4% 2% 160 0% 120 -2% 150 161 175 190 198 194 210 230 242 246 255 264 275 290 292 290 291 315 311 309 80 -4% 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Slide 40: Trade
TRADE Engineering for a Better Future. ENKA PAZARLAMA İHRACAT İTHALAT A.Ş. • Established in 1972, ENKA Pazarlama entered the Turkish construction market by specializing in the sale and servicing of Hitachi excavators and wheel loaders. From day one, the company embraced a strategic approach, focusin
Slide 41: Thank You
THANK YOU Engineering for a Better Future. İNŞAAT VE SANAYİ A.Ş. Balmumcu Mah., Zincirlikuyu Yolu No: 10, 34349 Beşiktaş / İstanbul Tel: +90 (212) 376 10 00 (pbx) Fax: +90 (212) 272 88 69 e-mail: enka@enka.com web: https://www.enka.com
ENKA İnşaat ve Sanayi A.Ş. — Q3 2024 Earnings Presentation on 6ix