Astor Enerji A.s. · BIST:ASTOR
Astor Enerji A.s — 9M 2024 Earnings Presentation
47 slides from Astor Enerji A.s's earnings presentation, October 2024
Slide 1: Astor Enerji A.Ş. Investor Presentation 9M24
WHEREVER, WHENEVER ENERGY IS NEEDED ASTOR ENERJİ A.Ş. INVESTOR PRESENTATION 9M24 Ankara – October 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, 560 37% 40% Medium Voltage (MV) and High Voltage (HV) equipment for power generation, 33% transmission, distribution a
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 1.000 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 20
Slide 11: Organization Chart
Organization Chart BOARD OF DIRECTORS Corporate Governance Early Risk Executive Committee Audit Committee Sustainability Committee GENERAL MANAGER Committee Detection Committee Internal Audit Directorate Legal Consultancy Disciplinary Committee Idea Committee Social Compliance Committee Remuneration
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) Production 9M23 9M24 • 10.000 m2'lik kapalı alan (Güç Product
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 TRANSFORMATOR
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: Customer Groups
Customer Groups DOMESTIC MARKET CUSTOMER GROUPS TURKISH ELECTRICITY TRANSMISSION COMPANY (TEİAŞ) Electricity Distribution Companies Industrial Facilities, Power Generation Dealers EXPORT MARKETS TURKEY ELECTRICITY GENERATION CO. INC. (EÜAŞ) Facilities and Other • It is the public institution respons
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 145.497 Sector Astor Share % AC 14.587 94 0,64 DC (Socket) 8.885 354 3,98 80.043 Total 23.472 448 1,91 : EP DK - June 2 0 2 4 %82 Source %450 %132 %124 Number of licensed companies : 199 14.552 2.797 6.267 Number of operational companies : 171 2020 2021 2022 20
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. As of the end of the 3rd quarter of 2024, an investm
Slide 24: SPP Investments
SPP Investments We provide all of our electricity needs from the energy we produce from renewable sources. 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 provisiona
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
TEST
Slide 27: 9M24 Financial Outlook
9M24 Financial Outlook
Slide 28: Financial Outlook
Financial Outlook Strong, stable inflation-adjusted growth in sales and profitability Million ₺ 9M24 - 9M23 Difference P&L 9M23 9M24 Amount (%) Net Sales 15.887,7 18.537,5 2.649,8 16,7% Cost of Sales (9.330) (11.405) (2.075) 22% Gross Profit 6.558,2 7.132,7 574,5 8,8% Gross Profit Margin % 41,3 38,5
Slide 29: Sales And Profitability
Sales And Profitability %38 Million ₺ Net Sales 18.538 Gross Profit Annual Growth %17 Gross Profit Margin %41 15.888 7.107 Overseas Sales %31 5.422 Domestic Sales 7.133 %9 6.558 %9 11.430 10.466 Haz.23 June 23 Haz.24 June 24 Haz.23 June 23 JuneHaz.24 24 %19 EBITDA %33 Net Profit EBITDA Margin Net Pr
Slide 30: Regional Export Shares
Regional Export Shares % Europe 46,1 Middle East & North Africa 27,7 Export Registered Sales 14,9 5,2% United Kingdom 5,2 46,1% America 4,3 0,4% 2,9% 14,9% Africa 1,5 Central Asia & Caucasus 0,4 27,7% Export to Revenue Ratio 1,4% 1,5% 38% 50% 9M24 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 9M24 was realized as 34% in 9M23 and ✓ Net Sales …: % 17 9M23 %62 %66 %38 increased to 38% in 9M24. ✓ Domestic Sales …: % 9 %34 ✓ Foreign Sales …:
Slide 32: Sales by Product Groups
Sales by Product Groups Million TL Export İhracat Yurt içi Domestic Toplam Total 18.538 11.430 8.414 7.107 6.125 4.062 4.462 3.952 2.063 2.398 2.648 1.075 250 - 275 275 332 743 Sales of Trade Goods and Distribution Transformer Dağıtım Transformatörü Power Güç Transformer Transformatörü MV OG Switchi
Slide 33: Net Financial Indebtedness
Net Financial Indebtedness Strong financial structure against market risks ✓ Strong capital and Equity, 9M24 Total Financial Indebtedness 1.538,2 ✓ Sustainable profitability, Net Financial Debt (5.172,4) Total Equity 18.329,6 ✓ Solid financial assets supported by EBITDA 6.051,3 cash cycles, Net Fina
Slide 34: Financial Indebtedness
Financial Indebtedness Loans Maturity 2.000 1.800 1.559 1.538 • TL loans decreased by 5.3% to 1.2 Billion TL, and 1.600 1.443 1.459 EURO loans decreased by 47% to 5.4 Million 1.400 1.200 EURO. 1.000 800 • Long-term investment loans are redeemed on 600 date of maturity. 400 200 83 33 79 0 • Cost-effe
Slide 35: Net Working Capital
Net Working Capital Million TL The positive trend observed in Net Working Capital continues. 19.384 17.709 The strong upward trend in our current assets continues. 9.366 8.697 The proportional and absolute 10.019 increase in short-term liabilities were 9.012 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 0,35 0,01 0,00 0,34 0,34 2023 9M24 2024 9A 2023 9M249A 2024 2023 9M24 2024 9A Özkaynaklar/Toplam Varlıklar Cari Oran Acid-Test Asit-Test
Slide 37: Currency Risk Management
Currency Risk Management 4.129 • 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 2.689 2.736 foreign exchange risk management policies. 1.951 • Our Net Exporter position continues. 1.440
Slide 38: Number Of Employees
Number Of Employees We continue to grow with our qualified employees Employee Distribution • Our employee count has reached 1,940. White Collar 21% • Our ratio of female employees is 31% in white collars, 9% in blue collars and 13% in total. 2.500 1.921 1.940 Blue Collar 2.000 79% 1.531 1.366 1.500
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
Million TL Assets ASTOR ENERJİ A.Ş. Past Period Current Period Change Share 2.023 9M24 Amount % % Assets Current Assets Cash and cash equivalents 2.286 3.930 1.644 72 14,1 Financial investments 1.902 2.781 879 46 10,0 Trade Receivables Trade receivables from related parties 383 67 (316) (83) 0,2 Tra
Slide 42: Liabilities
Million TL Current ASTOR ENERJİ A.Ş. Past Period Change Share Liabilities Period 2.023 9M24 Amount % % Liabilities Short-Term Liabilities Short-term borrowings 1.186 1.332 146 12 4,8 Short-term portions of long-term borrowings 257 128 (129) (50) 0,5 Trade Payables Commercial debts to related parties
Slide 43: Summary Balance Sheet
Summary Balance Sheet Summary Balance Sheet 2023 9M24 2023 9M24 27.821 25.479 million TL Assets 25.479 27.821 19.384 17.709 Current Assets 17.709 19.384 8.055 Cash and Cash Equivalents / Fin.Inv. 4.188 6.711 6.711 5.729 4.188 4.141 3.305 2.490 Trade receivables 8.055 5.729 2.055 Stock s 2.055 2.490
Slide 44: Profit And Loss
Million TL Change Profit And Loss Current Past Period ASTOR ENERJİ A.Ş. Period Amount % 9M23 9M24 9M24 - 9M23 Revenue 15.887,7 18.537,5 2.649,8 16,7 Cost Of Sales (-) (9.329,5) (11.404,8) (2.075,3) 22,2 Gross Profit 6.558,2 7.132,7 574,5 8,8 Administrative expenses (-) (250,5) (347,2) (96,7) 38,6 Ma
Slide 45: 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 46: 675 MVA
675 MVA
Slide 47: Investor Relations Contact Information
INVESTOR RELATIONS CONTACT INFORMATION yatirimci.iliskileri@astoras.com.tr