Turcas Holding A.s. · BIST:TRCAS
Turcas Holding A.s — Turcas Petrol A.Ş. — Q1 2023 Earnings Presentation
13 slides from Turcas Holding A.s's earnings presentation, 2023
Slide 1: 1Q23 Earnings Presentation
x (UICOS 1Q23 Earnings Presentation DISCLAIMER STATEMENT Turcas Petrol A.S. (“Turcas") has prepared this presentation document (the "Document”) consisting of documents thereto for the sole purposes of providing information and projections and statements retating to Turcas (the “Information’). Turcas
Slide 2: 1Q2023 General Overview
1Q2023 General Overview Turcas Petrol IFRS Consolidated Net Income/Loss Bridging (1Q23) (MM TL) 5 3 -142 39 5 -25 -10 -125 Turcas' Share in RTG ECA Premium Fair Value Difference Other* Turcas' Share in STAŞ Opex Net Financing Net Loss as of 1Q2023 Net Profit Reimbursement Of Venture Capital Net Loss
Slide 3: At a glance – 1Q23
At a glance – 1Q23 Retail (Fuel Distribution & Lubricants) VOLUME (1) NET SALES EBITDA NET PROFIT/LOSS 1,793 32,647 155 -473 ths m3 MM TL MM TL MM TL Shell & Turcas in 1Q23 in 1Q23 in 1Q23 in 1Q23 [1,994 ths m3 in 4Q] [43,336 MM TL in 4Q] [59 MM TL in 4Q] [-873 MM TL in 4Q] Power Generation 484 MM 2
Slide 4: Quarterly Segmental Analysis
Quarterly Segmental Analysis Oil Segment Energy Segment MM TL Shell & Turcas RWE & Turcas (Turcas share: 30%) (Turcas share: 30%) Net Profit/ Net Profit/ Revenues EBITDA Revenues EBITDA Loss Loss 1Q23 32,647 155 -473 2,019 78 129 1Q22 26,155 2,212 1,285 1,249 225 232 4Q22 43,336 59 -873 3,896 221 18
Slide 5: Shell & Turcas JV – 1Q23 Key Operational Highlights
Shell & Turcas JV – 1Q23 Key Operational Highlights Onsite B2B + B2C Fuel Sales Commercial Fuel Sales ths m3 ths m3 +11% y/y -11% y/y 303 1,296 +1,392 +369 in Q4 in Q4 269 1,164 1Q2022 1Q2023 1Q2022 1Q2023 Lubricants Sales Onsite Market Share Progress in 2021-2023 1 ths m3 22.0% 21.9% 21.6% 21.5% 21
Slide 6: Shell & Turcas JV – 1Q23 Key Financial Highlights
Shell & Turcas JV – 1Q23 Key Financial Highlights Net Sales EBITDA MM TL MM TL +25% y/y 32,647 -93% y/y 2,212 26,155 +43,336 +59 in Q4 in Q4 155 1Q2022 1Q2023 1Q2022 1Q2023 Net Profit / Loss Shell & Turcas 1Q23 Highlights MM TL • Total sales volume is up by 9% compared to the same quarter of the pre
Slide 7: Cash inflows from Shell & Turcas
Cash inflows from Shell & Turcas Dividends & Management Fees & SHL Principal and Interest Received from Shell & Turcas MM TL 65 168 57 10 5 16 23 85 13 16 14 75 70 7 53 50 45 51 33 36 41 26 31 27 30 24 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 * Management Fees
Slide 8: RWE & Turcas JV – 1Q23 Key Operational Highlights
RWE & Turcas JV – 1Q23 Key Operational Highlights Gas Consumption Electricity Generation mcm GWh -80% y/y -36% y/y 147 762 484 +153 +789 in Q4 30 in Q4 1Q22 1Q23 1Q22 1Q23 RTG Average Electricity Sales Price (TL/MWh) Cash inflows to Turcas from RWE & Turcas JV MM TL 4,506 SHL Repayment Cash Capital
Slide 9: RWE & Turcas JV – 1Q23 Key Financial Highlights
RWE & Turcas JV – 1Q23 Key Financial Highlights Net Sales EBITDA MM TL MM TL +62% y/y 225 -65% y/y 2,019 +3,896 +221 in Q4 in Q4 1,249 78 1Q22 1Q23 1Q22 1Q23 Net Profit / Loss RWE & Turcas 1Q23 Highlights MM TL -44% y/y • Although power generation has declined by 36% in 1Q23 on y/y basis due to outa
Slide 10: Turcas Consolidated IFRS Summary BS & PL
Turcas Consolidated IFRS Summary BS & PL IFRS Consolidated Financial Statements & Financing Ratios Income Statement, million TL 1Q2022 1Q2023 Y/Y Balance Sheet , million TL 2022 1Q2023 Y/Y Revenues 0 0 n.m. Cash & Cash Equivalents 32 13 -60% Gross Profit 0 0 n.m. Operating Expenses -12 -25 111% Asso
Slide 11: Financial Deleveraging Well On Track
Financial Deleveraging Well On Track MM EUR Denizli CCPP +TKG PP Project Finance Loans Principal Outstanding Balance (2023-25 Balances reflect the scheduled repayment plan) 200 Loan Balance as of end of 1Q 2023: 20.9 MM EUR 150 127 114 100 39 85 100 37 173 165 33 151 135 31 120 50 102 88 77 67 54 21
Slide 12: 2023 Guidance
2023 Guidance Guidance Unit (as of 07 March 2023) Cash Inflows From Shell&Turcas Shell & Turcas - Preferred Dividend net off BPA 6.8 MM USD Operational Projections for RWE&Turcas RWE & Turcas – 2023 Electricity Generation Forecast ~3,000 GWh RWE & Turcas – 2023 EBITDA Forecast 350 - 450 MM TL (lower
Slide 13: Thank you!
Thank you! Contact Information Arif ŞAHİN Mert GÖKNAR Corporate Finance and Investor Finance Director Relations 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