Aksa Enerji Uretim A.s. · BIST:AKSEN
Aksa Enerji Uretim A.s — Investor Presentation (October 2024)
34 slides from Aksa Enerji Uretim A.s's investor presentation, October 2024
Slide 1: Investor Presentation October 2024
1 Investor Presentation October 2024
Slide 2: Key Investment Highlights
Key Investment Highlights AKSA ENERGY: AN OUTLIER IN TURKISH ENERGY SECTOR Deep Expertise in Energy Sector Diversified Portfolio Guaranteed Long-term Hard Currency Based Revenues Sustainable Growth Resilient Business Model 2
Slide 3: Shareholder Structure
Shareholder Structure AKSA ENERGY: LISTED IN BIST SUSTAINABILITY, CORPORATE GOVERNANCE, DIVIDEND, PARTICIPATION, MSCI & FTSE INDICES AKSA ENERGY SHAREHOLDING STRUCTURE KAZANCI HOLDING SHAREHOLDING STRUCTURE Tülay Kazancı Mehmet Kazancı 4,8% Free Float 5,9% 20% Ali Metin Kazancı 29,0% Kazancı Holding
Slide 4: Power Generation by Fuel Type
Power Generation by Fuel Type TURKISH ENERGY SECTOR – 52% OF ELECTRICITY GENERATED FROM NON-RENEWABLE SOURCES 36% 34% 24% 20% 21% 17% 10% 10% 9% 6% 3% 3% 3% 3% Lignite & Coal Hydro Natural Gas Wind Solar Geothermal Other 9M2023 9M2024 Source: TEİAŞ 4
Slide 5: Price Evolution in Turkish Market
Price Evolution in Turkish Market Price SPOT PRICE Evolution CEILING in Turkish INCREASED TO 3,000Market TL/MWh FROM 2,700 TL/MWh IN JUL’24 Average Spot Electricity Prices & Maximum Settlement Prices (TL/MWh) Maximum Settlement Price Spot Price Ceiling @ 3.000 TL/MWh Implementation Period Spot Price
Slide 6: Monthly Change in Power Consumption
Monthly Change in Power Consumption TURKISH ENERGY SECTOR – 6% ANNUAL GROWTH IN 9M 2024 15% 10% 9% 6% 5% 4% 2% 1% 1% January February March April May June July August September 2024 vs 2023 Source: TEİAŞ 6
Slide 7: Financial & Operational Highlights 1H2024
FINANCIAL & OPERATIONAL HIGHLIGHTS 1H2024
Slide 8: Key Highlights – 1H24
Key Highlights – 1H24 SUSTAINED RECOVERY IN EBITDA MARGIN TL million 1H24 1H23 y/y 1H24 vs 1H23 Net Sales 12,333 24,958 -51% EBITDA 3,144 5,375 -42% Net Income 1,509 3,464 -56% Net Financial Debt 21,020 15,772(*) 33% 1H24 1H23 y/y KPIs-1H24 vs 1H23 Gross Margin 20% 21% -1pp EBITDA Margin 25% 22% +3p
Slide 9: Regional Breakdown
Regional Breakdown FOREIGN OPERATIONS’ CONTRIBUTION TO EBITDA REACHING 82% TL million Domestic Foreign Share of Foreign Cumulative- 1H24 33% Net Sales 8,298 4,035 67% 18% EBITDA 564 2,581 82% Profit Before Tax (1,351) 4,173 TL million Domestic Foreign Share of Foreign Cumulative- 1H23 20% Net Sales
Slide 10: Shares of Regions in EBITDA
Shares of Regions in EBITDA FOREIGN OPERATIONS’ CONTRIBUTION INCREASING AS EXPECTED Shares of Regions in EBITDA 90% 82% 80% 70% 60% 54% 50% 46% 40% 30% 20% 18% 10% 0% 1H23 1H24 Domestic Foreign 1H23 1H24 • Foreign operations contribution increased to 82% of our EBITDA as expected • Contribution of d
Slide 11: Domestic Operations
DOMESTIC OPERATIONS
Slide 12: Domestic Operations at a Glance
Domestic Operations at a Glance MAJORITY OF DOMESTIC INSTALLED CAPACITY BASED ON NATURAL GAS Bolu-Göynük DOMESTIC 270 MW INSTALLED CAPACITY 1,358 MW Natural Gas (1 plant) 900 MW Fuel-Oil (1 plant) 188 MW Lignite (1 plant) 270 MW Antalya 900 MW Northern Cyprus 188 MW 12
Slide 13: Antalya PP - Key Highlights
Antalya PP - Key Highlights ANTALYA- 900 MW NATURAL GAS CCGT Ali Metin ACTIVE Kazancı PRESENCE Antalya SERVICES IN ANCILIARY Power Plant – Key Highlights Antalya Power Plant Location Technical Overview < ◼ Energy Source: Natural Gas Plant Overview ◼ Installed Capacity: 900 MW CCGT ◼ CoD: 2008 ◼ 2 Si
Slide 14: Bolu PP - Key Highlights
Bolu PP - Key Highlights BOLU GÖYNÜK- 270 MW LOCAL LIGNITE POWER PLANT Bolu Göynük ROUTINE Power Plant MAINTENANCE HELD IN– 2Q24 Key Highlights Bolu Göynük Power Plant Location Technical Overview ◼ Energy Source: Local Lignite Plant Overview ◼ Installed Capacity: 270 MW (2x 135 MW) ◼ CoD: 2015 ◼ 2 u
Slide 15: Northern Cyprus - PP Key Highlights
Northern Cyprus - PP Key Highlights NORTHERN CYPRUS 188 MW COMBINED CYCLE HFO POWER PLANT USD BASED GUARANTEED ENERGY SALES Nothern Cyprus Power Plant Location Technical Overview ◼ Energy Source: Liquid Fuel ◼ Installed Capacity: 188 MW Combined Cycle Plant Overview ◼ CoD: 2003 ◼ Contract Expiry: 20
Slide 16: Renewable Energy Projects - Key Highlights
Renewable Energy Projects - Key Highlights 891.41 MW STORAGE-BASED WIND and SOLAR POWER PLANTS Key Highlights Power Plant Location • On December 4, 2023, our preliminary licenses were granted for a total of 831.41 MW Storage Wind and Solar Energy Plants by EMRA. • With the acquisition of pre-license
Slide 17: Foreign Operations
FOREIGN OPERATIONS
Slide 18: Contribution to the Energy Transition
Contribution to the Energy Transition ACTIVE IN CENTRAL ASIA SINCE 2022… ASIA INSTALLED CAPACITY 740 MW UNDER CONSTRUCTION CAPACITY 670 MW 18
Slide 19: Country Snapshots – Central Asia
Country Snapshots – Central Asia ATTRACTIVE REGION WITH STRONG GROWTH POTENTIAL… Uzbekistan Kazakhstan Population 36.8 mn Population 20.1 mn Area 447,400 km2 Area 2,724,900 km2 GDP $ 90.8 bn GDP $ 261.4 bn GDP per capita $ 2,494 GDP per capita $ 13,279 Installed Capacity 17,659 MW Installed Capacity
Slide 20: Tashkent & Bukhara PP – Key Highlights
Tashkent & Bukhara PP – Key Highlights ADDITIONAL TashkentEBITDA A, B EXPECTATION and BukharaINPower 2025 Plants – Key Highlights Uzbekistan Power Plants’ Locations Technical Overview ◼ Energy Source: Natural Gas (CCGT) ◼ Installed Capacity: 740 MW (A: 240 MW; B: 230 MW; Bukhara: 270 MW) ◼ CoD: Marc
Slide 21: Central Asia Projects
2 1 Central Asia Projects STRENGTHENING POSITION IN CENTRAL ASIA WITH NEW INVESTMENT IN UZBEKISTAN AND FIRST INVESTMENT IN KAZAKHSTAN UZBEKISTAN ◼ Project Name: Talimarjon (Natural Gas Combined Cycle Power Plant) ◼ Installed Capacity: 430 MW ◼ Wärtsilä gas engines and Siemens steam turbines ◼ Contra
Slide 22: Attractive Region with Strong Growth Potential
Attractive Region with Strong Growth Potential ACTIVE IN AFRICA SINCE 2017… AFRICA INSTALLED CAPACITY(1) 430 MW (2) UNDER CONSTRUCTION CAPACITY 605 MW (1) Excludes Congo and Madagascar (2) As of 11 September 2024, 66 MW Madagascar power plant has been sold. However, Aksa Energy will continue to oper
Slide 23: Country Snapshots – Africa
Country Snapshots – Africa CONTRIBUTION TO ENERGY ACCESS Ghana Madagascar Mali Senegal Population 33.4 mn Population 29.6 mn Population 22.6 mn Population 17.32 mn Area 238,537 km2 Area 592,000 km2 Area 1,240,190 km2 Area 196,161 km2 GDP $ 73.8 bn GDP $ 15.3 bn GDP $ 18.8 bn GDP $ 27.68 bn GDP per c
Slide 24: Africa Operations – Key Highlights
Africa Operations – Key Highlights LONG TERM GUARANTEED ENERGY SALES IN HARD CURRENCY & Mali FUEL Power Plant – Key IS PASS THROUGH Highlights IN ALL OF OUR OVERSEAS OPERATIONS Africa Power Plants’ Locations Technical Overview ◼ Energy Source: Natural Gas + Liquid Fuel ◼ Installed Capacity: 370 MW P
Slide 25: Africa Projects – Pipeline
2 5 Africa Projects Africa Projects – Pipeline WE CONTINUE TO GROW IN AFRICA WITH GHANA AND SENEGAL INVESTMENTS GHANA ◼ Project Name: Kumasi (Natural Gas Combined Cycle Power Plant) ◼ Installed Capacity: 350 MW ◼ Siemens gas and steam turbines (Phase I) ◼ Contract Terms: 20-year PPA, guaranteed elec
Slide 26: Sustainability
SUSTAINABILITY
Slide 27: Sustainable Business Model
SUSTAINABILITY AT AKSA ENERGY SUSTAINABLE BUSINESS MODEL • The Company acts with the Responsibility of a Sustainable Business Model for a safe future. • The Company' sustainability approach is based on three pillars - Environmental Sustainability, Employees and Social Responsibility. • As a signator
Slide 28: We Are Committed to Sustainable Development Goals
SUSTAINABILITY AT AKSA ENERGY WE ARE COMMITTED TO SUSTAINABLE DEVELOPMENT GOALS! • Aksa Energy prioritizes identifying and managing the significant environmental impacts of the industry, respecting human and employee rights, and contributing to social development in the regions where it operates. •
Slide 29: Annex
ANNEX
Slide 30: Consolidated Summary Income Statement
Annex CONSOLIDATED SUMMARY INCOME STATEMENT 1H24 1H23 y/y MM TL Net sales 12,333 24,957 -51% Cost of sales (9,842) (19,750) -50% Gross Profit 2,491 5,208 -52% General & administrative costs (603) (476) 27% Marketing expenses (43) (10) 342% Other operating income 319 228 40% Other operating expenses
Slide 31: Consolidated Summary Balance Sheet
Annex CONSOLIDATED SUMMARY BALANCE SHEET 1H24 YE23 ytd MM TL Cash and cash equivalents 1,247 991 26% Trade receivables 9,455 16,876 -44% Inventories 1,888 1,118 69% Total Current Assets 14,770 21,317 -31% PP&E 45,240 43,676 4% Intangibles 1,276 1,380 -8% Total Non-current Assets 53,779 48,290 11% To
Slide 32: 2024 Guidance
Annex 2024 2024GUIDANCE BEKLENTİLERİ FINANCIAL 2023 ACTUAL 2024 GUIDANCE COMPOSITION COMPOSITION INDICATOR (MM TL) (MM TL) 24% 38% 62% 76% NET SALES 35.172 Domestic Foreign 27.215 Domestic Foregin 36% 23% 64% 77% EBITDA 7.901 Domestic Foreign 7.795 Domestic Foreign 21% 23% 22% 57% 7% 71% CAPEX 1.834
Slide 33: Investor Relations Contact Information
Contact Information INVESTOR RELATIONS Sena Atay Pınar Saatcıoğlu Investor Relations Investor Relations and Manager Sustainability Director investorrelations@aksaenerji.com.tr +90 216 681 1053 Rüzgarlıbahçe Mh . Özalp Çıkmazı No:10 Kavacık / Beykoz Istanbul Aksa Enerji Üretim A.Ş. https://www.aksain
Slide 34: Disclaimer
DISCLAIMER Aksa Energy has prepared this presentation for the sole purpose of providing information, which contains forward-looking statements that reflect the Company management’s current views with respect to certain future events. Although it is believed that the expectations reflected in these s
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