Turcas Holding A.s. · BIST:TRCAS
Turcas Holding A.s — Turcas Petrol — FY2021 Earnings Presentation
13 slides from Turcas Holding A.s's earnings presentation, 2022
Slide 1: 4Q & YE21 Earnings Presentation
4Q & YE21 Earnings Presentation
Slide 2: YE21 General Overview
YE21 General Overview Turcas YE21 Turcas Petrol IFRS Consolidated Net Income/Loss Bridging (YE21) Net Loss: -80 MM TL 7 12 5 -27 114 -245 60 30 7 -44 -80 STAŞ Usufruct Turcas Share in Turcas Share in Fair value Fair Value Deferred Tax Holding Opex & Net Financing Loss For The Loss For The Management
Slide 3: At a glance - YE21 & [4Q21]
At a glance - YE21 & [4Q21] Fuel Distribution & Lubricants VOLUME (1) NET SALES EBITDA NET PROFIT 6.8 MM 55,569 2,039 202 m3 MM TL MM TL MM TL Shell & Turcas in YE21 in YE21 in YE21 in YE21 [1.9 MM m3 in 4Q] [19,281 MM TL in 4Q] [341 MM TL in 4Q] [-110 MM TL in 4Q] Power Generation 4.3 MMM 2,715 417
Slide 4: Quarterly & YoY Segmental Analysis
Quarterly & YoY Segmental Analysis Oil Segment Energy Segment MM TL Shell & Turcas RWE & Turcas (Turcas share: 30%) (Turcas share: 30%) Net Net Profit/ Revenues EBITDA Revenues EBITDA Profit/ Loss Loss YE21 55,569 2,039 202 2,715 417 379 YE20 34,521 940 -240 1,548 84 9.5 4Q21 19,281 341 -110 1,322 2
Slide 5: Shell & Turcas JV – YE21 Key Operational Highlights
Shell & Turcas JV – YE21 Key Operational Highlights Onsite B2B + B2C Fuel Sales Commercial Fuel Sales ths m3 ths m3 +24% y/y 4.885 +31% y/y 1.138 3.927 +1.389 in Q4 870 +346 in Q4 2020 2021 2020 2021 Lubricants Sales Onsite Market Share Progress in 2021 1 ths m3 19,40% 19,08% 19,20% +12% y/y 19,00%
Slide 6: Shell & Turcas JV – YE21 Key Financial Highlights
Shell & Turcas JV – YE21 Key Financial Highlights Net Sales EBITDA MM TL MM TL +61% y/y 55.569 +117% y/y 2.039 +19.281 34.521 in Q4 +341 in Q4 940 2020 2021 2020 2021 Net Profit / Loss Shell & Turcas YE21 Highlights MM TL • Total sales volume is up by 23% compared to previous year (16% up compared t
Slide 7: Continuous Cash inflows from Shell & Turcas
Continuous Cash inflows from Shell & Turcas Dividends & Management Fees & SHL Interest Received from Shell & Turcas MM TL 148 MM TL dividends received in 3Q19. Out of that amount, 73 MM TL transferred back to STAS as SHL. It is planned to be repaid to Turcas in September 2022. 65 57 148 5 10 16 14 1
Slide 8: RWE & Turcas JV – YE21 Key Financial Highlights
RWE & Turcas JV – YE21 Key Financial Highlights Net Sales EBITDA MM TL MM TL +75% y/y +399% y/y 417 2.715 +230 +1,322 in Q4 in Q4 1.548 84 2020 2021 2020 2021 Net Profit / Loss RWE & Turcas YE21 Highlights MM TL • Although the generation is only slightly up by %2; net sales has increased by 75% due
Slide 9: RWE & Turcas JV – YE21 Key Operational Highlights
RWE & Turcas JV – YE21 Key Operational Highlights Gas Consumption Electricity Generation mcm GWh 1% y/y 2% y/y 813 817 4.281 4.359 +251 +1.338 in Q4 in Q4 2020 2021 2020 2021 Cash inflows to Turcas from RWE & Turcas JV RTG Average Electricity Sales Price (TL/MWh) (under SHL repayment) MM TL 31 913 2
Slide 10: Turcas Consolidated IFRS Summary BS & PL
Turcas Consolidated IFRS Summary BS & PL IFRS Consolidated Financial Statements & Financing Ratios Balance Sheet , million TL 2020 2021 Ytd Income Statement, million TL 2020 2021 Y/Y Revenues (Electricity Sales) 64 0 n.m. Cash & Cash Equivalents 102 21 -80% Gross Profit 41 0 n.m. (from STAŞ, 2020 LT
Slide 11: Financial Deleveraging Ongoing – Planned Schedule
Financial Deleveraging Ongoing – Planned Schedule MM EUR Denizli CCPP +TKJ PP Project Finance Loans Principal Outstanding Balance 200 150 127 114 39 100 100 37 85 173 165 33 151 135 31 120 50 102 88 77 67 54 20 17 0 6 - 2013 2013 Dec. Dec A 2013 2013YE A 2014 2014YE A 2015 2015YE A 2016 2016YE A 201
Slide 12: 2022 Guidance
2022 Guidance 2022 Cash Flow From Subsidiaries Shareholder Loan Interest + Principal Repayments to be received from Shell & Turcas 82 MM TL Shell & Turcas - Preferred Dividend 8 MM USD Cash Flow from RWE & Turcas's Capital Decrease (Turcas Share) 83 MM TL Sale of Turcas Kuyucak Jeotermal (TKJ) & Den
Slide 13: Thank you!
Thank you! Contact Information Arif ŞAHİN Mert GÖKNAR Corporate Finance and Investor Finance and Investor Relations Manager Relations Deputy Manager E-mail: mert.goknar@turcas.com.tr E-mail: arif.sahin@turcas.com.tr Phone: +90 212 259 00 00 / Ext: 1243 Phone: +90 212 259 00 00 / Ext: 1238