Global Yatirim Holding A.s. · BIST:GLYHO
Global Yatirim Holding A.s — Global Yatırım Holding A.Ş. — Q1 2015 Earnings Presentation
22 slides from Global Yatirim Holding A.s's earnings presentation, May 11, 2015
Slide 1: Financial Presentation Q1 2015
GLOBAL INVESTMENT HOLDINGS Financial Presentation Q1 2015
Slide 2: Current Portfolio
Current Portfolio Global Investment Holdings Ports Energy Real Estate Finance Global Ports Holding Consus Energy Pera REIT/Global RE Global Securities (100%) (100%) (50%)/(100%) (77.4%) Ege Ports Kusadasi CNG Mining Power Polsan Asset (72.5%) Distribution Generation • Sümer Park Mall & Management Po
Slide 3: I – Financial Review
G GLOBAL INVESTMENT HOLDINGS |— FINANCIAL REVIEW
Slide 4: Financial Highlights
Financial Highlights (TL mn) Net revenues Q1 2015 Q1 2014 %change Energy 33.9 22.7 49% Ports 42.5 36.3 17% Finance 6.7 4.9 36% Real Estate 1.3 2.5 -49% Holding solo 0.0 0.0 NA Others 0.1 0.1 8% GIH total 84.5 66.5 27% EBITDA Q1 2015 Q1 2014 %change Energy 2.9 2.1 35% Ports 19.7 15.8 25% Finance -0.1
Slide 5: Major Developments
Major Developments Global Ports IPO: In January 2015, GPH, the largest cruise port operator globally, had initiated a process for initial public offering of part of its shares. The unique business model, sound historic performance of the existing operations and the inorganic growth strategy in the
Slide 6: Major Developments (continued)
Major Developments (continued) Naturelgaz: In January 2015, The tender for construction and operation of a Compressed Natural Gas (CNG) filling station in Eyüp, İstanbul held by Istanbul Energy Industry and Commerce Corporation, a subsidiary of İstanbul Metropolitan Municipality in the energy sect
Slide 7: Financial Highlights: Change in Revenue & EBITDA
Financial Highlights: Change in Revenue & EBITDA Revenue (Q1 2014 vs. Q1 2015) 90,0 -1,2 1,8 80,0 11,2 70,0 6,2 60,0 50,0 40,0 84,5 30,0 66,5 20,0 10,0 0,0 Q1 2014 Ports Energy Real Estate Finance&others Q1 2015 EBITDA (Q1 2014 vs. Q1 2015) EBITDA: TL11.8 mn 25,0 0,7 0,1 20,0 6,3 0,8 15,0 3,9 22,8 1
Slide 8: Financial Highlights: Revenue
Financial Highlights: Revenue During the first three months of 2015, Global Investment Holdings’ (GIH) revenues reached TL84.5mn compared to TL66.5mn for the same period last year, representing an increase of 27%. This increase is due to improved operating performance of Port, Energy and Finance D
Slide 9: Financial Highlights: EBITDA
Financial Highlights: EBITDA In Q1 2015, GIH reported consolidated EBITDA of TL22.8mn, compared to TL11.0mn in the same period last year, representing 108% increase. The Port Division’s EBITDA was reported as TL19.7mn in Q1 2015 compared to an EBITDA of TL15.8mn for the same period in 2014, repr
Slide 10: Financial Highlights: Change in P&L
Financial Highlights: Change in P&L GIH reported a consolidated net loss of TL-28.6mn in the first quarter of 2014, compared to a net loss of TL-26.6mn in Q1 2014. Group has increased its cash EBITDA by TL11.8mn, which however, is off- set by a similar amount of increase in non-cash depreciation a
Slide 11: II – Operational Performance by Division
II – OPERATIONAL PERFORMANCE BY DIVISION 11
Slide 12: Global Ports Holding
Global Ports Holding GPH Total Revenues & EBITDA In the first quarter of 2015, the Port Division’s revenues totaled TL42.5mn, representing an increase of 17% over the same 45 period of 2014. Apart from the contribution of Group’s cruise 40 business, GPH revenues - which are mainly denominated in U
Slide 13: Consus Energy: Naturelgaz & Straton Mining
Consus Energy: Naturelgaz & Straton Mining The Group’s Energy Division revenues in the Q1 2015 Naturelgaz comprised sales from CNG (Naturelgaz), mining (Straton) and Revenue & Volume power generation (Tres), and amounted to TL33.9mn. 30 Naturelgaz recorded revenues of TL28.0mn during the first q
Slide 14: Global Energy: Other Investments
Global Energy: Other Investments As at the end of Q1 2015, the total contracted generation capacity of Tres Energy is 30.1 MW. Out of total the contracted capacity, 16.7 MW facility continues power generation. The remaining facilities with 13.4 MW capacity targets to commence generation within Q4
Slide 15: Pera REIT & GIH Real Estate Portfolio
Pera REIT & GIH Real Estate Portfolio Q1 2015, revenues of the Real Estate Division were comprised of rent revenues and residential sale revenues of Pera, a listed REIT. Rent revenues were generated from the Denizli Sumerpark Shopping Mall, which started operations in March 2011. Anchor tenants of
Slide 16: Other Real Estate Projects
Other Real Estate Projects The construction of Van AVM of 30,000m2 GLA started in July 2014 and is expected to be completed by the end of 2015 . As of March 31,2015, the construction is 40% complete and rental contracts for 50.33% of total GLA have been signed. GIH owns a school building as part
Slide 17: Finance Segment
Finance Segment Revenues of the Brokerage and Asset Management Division consists of securities brokerage commissions, interest revenues on margin lending transactions, portfolio management fees, proprietary trading revenues and advisory fees. The Finance Division recorded revenues of TL6.7mn in
Slide 18: III – Appendix
lili - APPENDIX Q GLOBAL INVESTMENT HOLDINGS 18
Slide 19: Balance Sheet
Balance Sheet (TL mn) 31 Mar 2015 31 Mar 2014 ASSETS Current Assets 435,6 493,2 Cash and Banks 116,6 185,3 Marketable Securities 4,9 3,9 Trade Receivables 148,5 154,9 Inventories 49,5 45,8 Other Receivables and Current Assets (1) 115,3 102,4 Assets Held for Sale 0,9 0,9 Non-current Assets 2.212,6 2.
Slide 20: Income Statement
Income Statement (TL Million) 1Q 2015 1Q 2014 Total gross revenues 84,46 66,50 Cost of sales and services -71,14 -50,54 Gross Profit 13,32 15,97 Operating expenses -30,76 -26,89 Other operating income/(loss), net 4,13 0,38 Equity pickup asset gains/(losses) 1,22 1,12 Gross operating profit/(loss) -1
Slide 21: Debt Position
Debt Position Year of Holding standalone debt (TL m) Currency Interest Rate Maturity Amount TL mn Eurobond, gross USD fixed 2017 105,5 TL bond TL floating 2016 75,0 TL bond TL floating 2016 85,0 Secured bank loans USD floating 2016 (1) 46,3 Secured bank loans EUR floating 2019 (1) 68,5 Unsecured ban
Slide 22: Disclaimer
Disclaimer The information contained in this document has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this docum
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