Aksa Enerji Uretim A.s. · BIST:AKSEN
Aksa Enerji Uretim A.s — FY2021 Earnings Presentation
16 slides from Aksa Enerji Uretim A.s's earnings presentation, Mar 1, 2022
Slide 1: YE 2021 Earnings Presentation
YE 2021 Earnings Presentation 1 March 2022
Slide 2: Key Highlights – YE21
1.7 BLN TL ANNUAL NET INCOME DRIVEN BY STELLAR OPERATIONAL & FINANCIAL PERFORMANCE Key Highlights – YE21 4Q21 4Q20 q/q TL million Quarterly- 4Q21 vs 4Q20 Net Sales 5,565 1,963 184% EBITDA 867 408 112% Net Income 866 115 656% Net Financial Debt 4,545 2,632 73% YE21 YE20 y/y Cumulative-YE21 Net Sales
Slide 3: Regional Breakdown
FOREIGN OPERATIONS’ CONTRIBUTION TO EBITDA AT 54% Regional Breakdown TL million Domestic Foreign Share of Foreign 10% Quarterly- 4Q21 Net Sales 4,982 583 EBITDA 455 412 48% Profit Before Tax 961 347 27% TL million Domestic Foreign Share of Foreign 13% Cumulative-2021 Net Sales 12,114 1,773 EBITDA 1,
Slide 4: Regional Breakdown
FX BASED PRICE TARIFFS IN AFRICA AND NORTHERN CYPRUS SUPPORTIVE OF OPERATIONS Regional Breakdown Domestic Foreign Total Quarterly- 4Q21 Sales Volume (GWh) 6,243 343 6,586 Sales Price (TL/MWh) 848 1,840 899 Domestic Foreign Total Cumulative- 2021 Sales Volume (GWh) 20,812 1,040 21,852 Sales Price (TL
Slide 5: Sales Channel Breakdown
ACROSS THE BOARD RECOVERY IN SALES PRICES Sales Channel Breakdown Sales Volume by Channel (YE21) Sales Price by Channel (TL/MWh) Includes 640 GWh & 103 1.832 GWh export to Iraq and Georgia respectively 5% 3% 1.643 712 1,040 GWh 1.268 GWh 29% 6,826 759 GWh 584 638 56% 438 313 276 303 1,172 13,160 GWh
Slide 6: Bolu PP Key Highlights
MEETING 1% OF TURKEY’S POWER DEMAND WITH 90% CAPACITY UTILIZATION Bolu PP Key Highlights Energy Source: Lignite Coal Installed Capacity: 270 MW Generation (Gross): 2,120 GWh (YE21) CUR: 90% (YE21) Capacity Payment: 65 MM TL (YE21) EÜAŞ Lignite PPA Price: 471 TL/MWh (4Q21) • Bolu PP sold 66% of its g
Slide 7: Antalya PP Key Highlights
BASE LOAD POWER PLANT WITH ACTIVE PRESENCE IN ANCILIARY SERVICES AS WELL Antalya PP Key Highlights Energy Source: Natural Gas Installed Capacity: 900 MW Generation (Gross): 4,899 GWh (YE21) Capacity Payment: 82 MM TL (YE21) CUR: 68% (YE21) Adjusted CUR (*): 83% (YE21) • Base load power plant with hi
Slide 8: Şanlıurfa PP Key Highlights
OPERATIONS AT URFA GAS POWER PLANT RESUMED AS OF AUG’21 Şanlıurfa PP Key Highlights Energy Source: Natural Gas Installed Capacity: 147 MW Generation (Gross): 164 GWh (YE21) CUR: 35% (YE21) • Şanlıurfa Power Plant resumed its operations from Aug’21 onwards driven by favorable market conditions • 99%
Slide 9: Northern Cyprus PP Key Highlights
USD BASED CAPACITY CHARGE SUPPORTIVE OF MARGINS Northern Cyprus PP Key Highlights Energy Source: Fuel Oil Installed Capacity: 153 MW Generation: 724 GWh (YE21) CUR: 54% (YE21) PPA Price: 1,268 TL/MWh (YE21) Contract Expiry: 2024 (+3 year extension option) • Northern Cyprus PP benefits from USD based
Slide 10: Overseas Operations Key Highlights
FUEL IS PASS THROUGH IN OUR OVERSEAS OPERATIONS Overseas Operations Key Highlights • Ghana PP benefits from USD based guaranteed capacity charge for 332 MW out of 370 MW installed capacity • On top of that, PP generates revenues from routine sales activity via spot market • Ghana engine conversion t
Slide 11: Uzbekistan Project - Key Highlights
740 MW POWER PLANTS IN UZBEKISTAN TO BE FULLY OPERATIONAL BY 1Q22 Uzbekistan Project - Key Highlights • 25 year power purchase agreement (PPA) including guaranteed capacity payment in USD terms signed with the Ministry of Energy of Uzbekistan on May’20 regarding 240 MW natural gas combined cycle (CC
Slide 12: Congo Project - Key Highlights
100 MW GAS POWER PLANT’S OPERATING RIGHTS OBTAINED IN JAN’21 Congo Project - Key Highlights • On 21 January 2021, Aksa Enerji Üretim A.Ş.’s 100% subsidiary Aksa Energy Company Congo has signed a concession agreement with Republic of Congo about obtaining operating rights of a 50 MW natural gas power
Slide 13: Consolidated Summary Income Statement
ANNEX Consolidated Summary Income Statement 2021 2020 y/y MM TL Net sales 13,887 7,231 92% Cost of sales (11,809) (6,033) 96% Gross Profit 2,079 1,198 74% General & administrative costs (165) (117) 40% Marketing expenses (8) (10) -11% Other operating income 226 14 1507% Other operating expenses (73)
Slide 14: Consolidated Summary Balance Sheet
ANNEX Consolidated Summary Balance Sheet 2021 2020 ytd MM TL Cash and cash equivalents 525 314 67% Trade receivables 5,328 2,706 97% Inventories 225 138 63% Total Current Assets 7,129 3,464 106% PP&E 13,038 5,655 131% Intangibles 222 116 92% Total Non-current Assets 13,520 6,039 124% Total Assets 20
Slide 15: Contact- Investor Relations
Contact- Investor Relations Pınar SAATCIOĞLU Head of Investor Relations pinar.saatcioglu@aksa.com.tr +90 216 681 1053 Rüzgarlıbahçe Mh. Özalp Çıkmazı No:10 Kavacık / Beykoz, Istanbul 15
Slide 16: 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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