Astor Enerji A.s. · BIST:ASTOR
Astor Enerji A.s — Q2 2024 Earnings Presentation
46 slides from Astor Enerji A.s's earnings presentation, August 2024
Slide 1: Astor Enerji A.Ş. Investor Presentation
WHEREVER, WHENEVER ENERGY IS NEEDED ASTOR ENERJİ A.Ş. INVESTOR PRESENTATION 2nd Quarter of 2024 Ankara – August 2024
Slide 2: Content
C CONTENT 1. COMPANY OVERVIEW SINCE 2. ACTIVITY OVERVIEW 3. FINANCIAL OUTCOMES
Slide 3: Company Overview
COMPANY OVERVIEW
Slide 4: Slide 4
Slide 5: Astor Past To Present
Astor Past To Present Venture into HV switching products market: 170 kV circuit Türkiye's first domestic vacuum tube production at 40.5 KV breaker production. voltage level was Astor rents Özgüney realized and Company ventures into plants, machinery and international KEMA the HV reactor market: equi
Slide 6: Public Offering - Stock Exchange
Public Offering - Stock Exchange INTERNATIONAL INDICES BIST NATIONAL S&P Metal INDICES FTSE Global BIST Goods (All BIST IPO BMI Ankara Machinery World) Index /Industrial Index BIST BIST 100 FTSE Non- BIST 50 RUSSELL Bank BIST 30 (Large Cap) Liquid 10 IPO Price 12.50 TL Total IPO Size 210.000.000 Pcs
Slide 7: Overview
Overview Net Sales and the advent of EBITDA margin (2) Million $ 41 Years of Industrial Experience Founded in 1983, ASTOR manufactures power transformers, distribution transformers, Medium Voltage (MV) and High Voltage (HV) equipment for power generation, 30,8 400,0 transmission, distribution and in
Slide 8: ISO 500 Ranking
ISO 500 Ranking Ranking Sales from Net Gross Value Total Period Number of Period Production Sales Added Equity Assets Profit EBITDA Export Employees 2023 87 108 43 84 105 33 34 126 131 In its 40th year, Astor Energy 2022 128 139 93 73 121 63 84 247 161 2021 147 152 103 118 174 106 91 279 171 continu
Slide 9: R&D 250 Ranking
R&D 250* Ranking Overall R&D R&D R&D Expenditure Period Ranking Project No. Employee - TL Among the 250 companies with the highest 2023 25 71 160 476.179.827 R&D expenditures in Türkiye, the Company 2022 40 57 161 125.516.094 ranked 25th in the overall ranking and 1st in 2021 39 29 156 60.291.531 it
Slide 10: Exporter Companies Ranking
Exporter Companies Ranking Period Overall Ranking Sectoral Ranking Among the Top 1000 Exporter Companies organized by the 2023 160 11 2022 311 22 Turkish Exporters Assembly(TIM) every year; 2021 388 24 • Ranked 160th in the overall, 2020 514 35 • 11thintheSectoralRanking. 2019 762 41 2018 895 51 201
Slide 11: Organization Chart
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Slide 12: Corporate Development Activities
Corporate Development Activities Within the scope of TURQUALITY, which is a state-sponsored branding program, efforts are being made to become a global player in international markets with our own brand by providing managerial know-how, institutionalization and development to cover all processes fro
Slide 13: Corporate Development Activities
Corporate Development Activities Sustainability Management Systems Establishing a sustainability Carbon footprint calculation management system and reporting Preparation of a sustainability report in compliance with the GRI (Global Reporting Initiative) standard.
Slide 14: Overview of Activities
Overview of Activities
Slide 15: Production Facilities
Production Facilities 01 02 03 05 Power Transformers Distribution Transformers MV/HV Equipment Mekanik Fabrika • 15.000 m2 indoor space • 14.000 m2 indoor space • 26.000 m2 indoor space • 10.000 m2'lik kapalı alan (Dağıtım Transformatörü) • 10.000 m2'lik kapalı alan (Güç Transformatörü) mVA 2023 Q2
Slide 16: R&D
R&D R&D investments and studies that enable high product quality, operational efficiency and new product development are important for us. Among the largest 250 industrial companies based in Türkiye, ASTOR ranks the 25th in terms of R&D expenditures(1). With TL 476 million in R&D expenditures, it ra
Slide 17: Product Groups
Product Groups MOBİL TRAFO
Slide 18: Product Groups
Product Groups POWER TRANSFORMERS MV AND HV SWITCHING DISTRIBUTION TRANSFORMERS EQUIPMENT • 50-63 MVA 132/33-11,5 kV Power Transformer • 40,5 kV Metal Clad • 7,5 MVA furnace transformer • 170 kV Shunt Reactor • 36 kV 630 ve 1.250 A SF6 Gas Disconnector and Separator 5 Phases with Motorized Control •
Slide 19: Product Groups
Product Groups DAĞITIM TRANSFORMATÖRLERİ GÜÇ TRANSFORMATÖRLERİ OG ANAHTARLAMA YG ANAHTARLAMA Ürün Portföyü Kompakt/Metal Trafo Anahtarlar/Devre Kesiciler Merkezleri Yağlı Tip Kuru Tip Şönt Reaktörleri Metal Mahfazalı Metal Clad Seri Reaktörler Endüstriyel/Özel Tip Ekipman Ekipman YG Live Tank Devre
Slide 20: Müşteri Grupları
Müşteri Grupları YURT İÇİ PAZARI MÜŞTERİ GRUPLARI TÜRKİYE ELEKTRİK İLETİM A.Ş.(TEİAŞ) Elektrik Dağıtım Şirketleri Endüstriyel Tesisler, Bayiler İHRACAT PAZARLARI TÜRKİYE ELEKTRİK ÜRETİM A.Ş.(EÜAŞ) Elektrik Üretim Tesisleri ve Diğer • 170/ 420 kV elektrik iletim ve üretim • Dağıtım şirketleri, düzenl
Slide 21: Customer References
Customer References Industrial Facilities, Electricity Production Facilities Türkiye Elektrik İletim A.Ş (TEİAŞ) - EÜAŞ Endüstriyel Tesisler, And Other Elektrik Üretim Tesisleri ve Diğer Taahhüt Şirketleri Yurtdışı Ulusal Dağıtım Şirketleri Elektrik Dağıtım Şirketleri D D • A long-term solid and str
Slide 22: Number of Electric Vehicles in Türkiye
Number of Electric Vehicles in Türkiye 122.670 Sector Astor Share % AC 12.847 91 0,71 DC (Socket) 7.323 316 4,32 80.043 Total 20.170 407 2,02 -%45 %833 : EP DK - June 2 0 2 4 %172 %237 %53 Source %450 %132 %124 Number of licensed companies : 196 14.552 2.797 6.267 Number of operational companies : 1
Slide 23: Electric Vehicle Charging Network Management
Electric Vehicle Charging Network Management License was obtained from EMRA on 23 June 2022. The installation of a 407 Slot charging stations was completed in 40 provinces. In 2022, 750.000 USD were invested. In 2023, 10 Million USD were invested. In 2024, 3,5 million USD was invested as of the end
Slide 24: SPP Investments
SPP Investments The SPP investment with a capacity of 14 Mwe, which we started to invest in Ankara - Bala in 2023, was completed. After the necessary permits, it was commissioned on 09.07.2024 after provisional acceptance. The 6.6 MW installed power rooftop SPP in commission and 13.95 MWe on- land S
Slide 25: New Investments
New Investments Total Area : 228.896,89 m² Location : ASO 2nd and 3rd OIZ Expansion Zone Investment Subject : Capacity Increase + Copper Aluminum Conductor (Enameled Insulated) Wire Production
Slide 26: Test
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Slide 27: 2024 Q2 Financial Outlook
2024 Q2 Financial Outlook
Slide 28: Financial Outlook
Financial Outlook Strong, stable inflation-adjusted growth in sales and profitability Million ₺ 2024Q2 - 2023Q2 Difference P&L 2023Q2 2024Q2 Amount (%) Net Sales 8.459,9 11.453,1 2.993,2 35,4% Cost of sales (5.833) (7.224) (1.391) 24% Gross Profit 2.627,3 4.229,4 1.602,0 61,0% Gross Profit Margin %
Slide 29: Sales And Profitability
Sales And Profitability %37 Million ₺ Net Sales 11.453 Gross Profit Annual Growth %35 Gross Profit Margin %31 8.460 4.526 Overseas Sales %61 %62 2.793 Domestic Sales 4.229 2.627 %22 6.927 5.667 Haz.23 June 23 Haz.24 June 24 Haz.23 June 23 JuneHaz.24 24 %11 EBITDA %31 Net Profit EBITDA Margin Net Pro
Slide 30: Regional Export Shares
Regional Export Shares % Europe 44,6 Middle East & North Africa 30,7 Export Registered Sales 9,7 8,1% United Kingdom 8,1 44,6% South America 4,5 0,5% 4,5% 4,1% Africa 1,8 Central Asia & Caucasus 0,5 30,7% Export to Revenue Ratio 1,8% 40% 50% 2024 Q2 Target (2025)
Slide 31: Sales
Sales OUR SALES TARGET FOR 2024 Domestic - Foreign Sales 826 MILLION USD Sales Growth Rates Compared to the Previous Year : International Sales/Net Sales was realized as 34% in 2023 and ✓ Net Sales …: % 35,4 60% 67% 40% increased to 40% in 2024 Q2. ✓ Domestic Sales …: % 22 33% ✓ Foreign Sales …: % 6
Slide 32: Sales by Product Groups
Sales by Product Groups Million TL 11.453 6.927 5.455 4.526 3.701 3.003 2.607 2.453 1.094 1.2801.487 656 208 0 154 154 222 434 Dağıtım Distribution Power Güç Transformatörü OG MV Anahtarlama Switching YGHV Anahtarlama Switching Ticari Mal Sales of Satışları ve Commercial TOPLAM TOTAL Transformer Tra
Slide 33: Net Financial Indebtedness
Net Financial Indebtedness Strong financial structure against market risks ✓ Strong capital and Equity, 2024 Q2 Total Financial Indebtedness 1.081,3 ✓ Sustainable profitability, Net Financial Debt (4.495,8) Total Equity 16.527,6 ✓ Solid financial assets supported by EBITDA 3.513,8 cash cycles, Net F
Slide 34: Financial Indebtedness
Financial Indebtedness Loans - Maturity • TL Loans decreased by 29% to 876 million TL and 1.600 FX Loans decreased by 51% to 5.8 million €. 1.400 1.325 1.431 1.200 • Long-term investment loans are redeemed on 1.000 992 1.081 date of maturity. 800 600 • Cost-effective financing opportunities are bein
Slide 35: Net Working Capital
Net Working Capital Million TL The positive trend observed in Net 16.258 Working Capital continues. 15.616 The strong upward trend in our current assets continues. 7.985 9.327 The proportional and absolute 8.274 6.289 increase in short-term liabilities were lower compared to the increase in current
Slide 36: Financial Ratios
Financial Ratios Kaldıraç Oranı Kısa Vadeli Yükümlülükler/Toplam Varlıklar Uzun Vadeli Yükümlülükler/Toplam Varlıklar (Toplam Yükümlülükler/Toplam Varlıklar) 0,34 0,01 0,35 0,27 0,28 0,01 2023 2024 Ç2 2024 Q2 2023 2024 Q2 Ç2 2023 2024 Q2 Ç2 Özkaynaklar/Toplam Varlıklar Cari Oran Acid-TestOranı Asit-
Slide 37: Currency Risk Management
Currency Risk Management 3.790 • Taking into account the developments in the market and economic indicators, the state of and the cash flow in foreign currency are constantly analyzed to develop 2.468 2.806 foreign exchange risk management policies. 1.664 • Our Net Exporter position continues. 1.322
Slide 38: Number Of Employees
Number Of Employees We continue to grow with our qualified employees Employee Distribution • In 2023, the number of employees increased from 1,921 to 2,002 with an increase of 4.2% and White Collar 81 employees. 20% • Our ratio of female employees is 31% in white collars, 9% in blue collars and 14%
Slide 39: Targets (2024-2025)
Targets (2024 -2025) Turnover Target : 1 Bn. USD 2024 - 826 Mio. USD - % 40 2025 - 1.013 Mio. USD - % 23 Million USD 1.013 826 Export Target : 512 Mio. USD 575 Export Share 512 501 381 400 426 48% 51% 194 33% 2023 2024 2025 Yurt Dışı Satışlar Foreign Sales Yurt İçi Satışlar Domestic Sales Hasılat Re
Slide 40: Financial Statements
Financial Statements
Slide 41: Assets
41 Assets Million TL Previous ASTOR ENERJIAS. Period Period Change Share 30Jun24 _31Dec23 Amount __% % ASSETS Current Assets Cash and cash equivalents 2911 2.099 812 39 12,7 Financial investments 2.666 1.746 920 3 11,6 Trade receivables Trade receivables from related parties 48 352 G03) 66) 02 - Tra
Slide 42: Liabilities
42 Liabilities Million TL ASTOR ENERJI AS. Cet Precious Change Share (% 30jm24 31Dec23. Amount % % LIABILITIES = — Short-term borrowings 859 1.089, 30) 3.7% ‘Short-term portions of long-term borrowings 133 236 ay) 0.6% ‘Trade payables ~ Trade payables to related partes 5 & a & 01% ~ Trade payables t
Slide 43: Profit And Loss
43 Profit And Loss Million TL Current Previous = Period Period . . Amount % ASTOR ENERJi A.S. : O1Jan24 O1Jan23 CLES 30 Jun. 24 30 Jun. 23 a (dillion TE) Revenue 11.453 8.460 2993.2 354 Cost of Sales () (7.224) 6.833) 3912 zx) Gross Profit 4.229 2.627 1.6020 61,0 General Administrative Expenses (-)
Slide 44: Legal Liability
Legal Liability With the Capital Markets Board Newsletter dated 28.12.2023 and numbered 2023/81, it has been announced to the public that issuers and capital market institutions subject to the financial reporting regulations of the Capital Markets Board are to implement inflation accounting by apply
Slide 45: 675 MVA
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Slide 46: Investor Relations Contact Information
INVESTOR RELATIONS CONTACT INFORMATION yatirimci.iliskileri@astoras.com.tr