Aksa Enerji Uretim A.s. · BIST:AKSEN
Aksa Enerji Uretim A.s — 9M 2020 Earnings Presentation
14 slides from Aksa Enerji Uretim A.s's earnings presentation, Nov 6, 2020
Slide 1: 9M2020 Earnings Presentation
9M2020 Earnings Presentation November 6, 2020
Slide 2: Key Highlights – 9M20
STRONG FINANCIAL RESULTS IN A CHALLENGING OPERATING ENVIRONMENT... Key Highlights – 9M20 TL million 3Q20 3Q19 y/y Quarterly- 3Q20 Net Sales 1,801 1,487 21% EBITDA 381 366 4% Net Income 157 121 29% (1) Net Financial Debt 2,857 3,142 -9% 9M20 9M19 y/y Cumulative-9M20 Net Sales 5,268 3,800 39% EBITDA 1
Slide 3: Regional Breakdown
FOREIGN OPERATIONS’ CONTRIBUTION TO EBITDA AT A HIGH 67% Regional Breakdown TL million Domestic Foreign Share of Foreign 19% Quarterly- 3Q20 Net Sales 1,464 337 EBITDA 133 248 65% Profit Before Tax 22 164 88% TL million Domestic Foreign Share of Foreign Cumulative-9M20 20% Net Sales 4,203 1,065 EBIT
Slide 4: Regional Breakdown
FX BASED PRICE TARIFFS IN AFRICA AND NORTHERN CYPRUS SUPPORTIVE OF OPERATIONS Regional Breakdown Domestic Foreign Total Quarterly- 3Q20 Sales Volume (GWh) 4,919 187 5,106 Sales Price (TL/MWh) 340 1,891 397 Domestic Foreign Total Cumulative-9M20 Sales Volume (GWh) 15,090 696 15,786 Sales Price (TL/MW
Slide 5: Sales Channel Breakdown
TURKISH MARKET DRIVING VOLUME, AFRICAN MARKET DRIVING MARGINS.. Sales Channel Breakdown Sales Volume by Channel (9M20) Sales Price by Channel (TL/MWh) 1.616 4% 3% 527 1.297 696 GWh GWh 30% 741 733 4,758 GWh 54% 271 308 258 270 246 296 1,255 8,550 GWh GWh 8% Northern BSM (Spot Affiliated DisCo OTC&Bi
Slide 6: Bolu PP Key Highlights
MEETING 1% OF TURKEY’S POWER DEMAND Bolu PP Key Highlights Energy Source: Lignite Coal Installed Capacity: 270 MW Generation: 1,413 GWh (9M20) CUR: 80% (9M20) Capacity Payment: 44 MM TL (9M20) EÜAŞ Lignite PPA Price: 359 TL/MWh (3Q20) • Bolu PP sold 72% of its generation to EÜAŞ (state-run Sales Com
Slide 7: Antalya PP Key Highlights
BASE LOAD POWER PLANT WITH INCREASING CUR Antalya PP Key Highlights Energy Source: Natural Gas Installed Capacity: 900 MW Generation: 1,980 GWh (9M20) Capacity Payment: 56 MM TL (9M20) CUR: 37% (9M20) • Base load power plant with high efficiency ratio of 59% • Power generation more than 10 x of 2Q20
Slide 8: Şanlıurfa PP Key Highlights
SUSPENSION OF OPERATIONS SINCE AUG’20 Şanlıurfa PP Key Highlights Energy Source: Natural Gas Installed Capacity: 147 MW Generation: 96 GWh CUR: 11% • Şanlıurfa PP operations were suspended in Aug’20 due to high transmission costs • 90% of transmission cost saving was achieved 8
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: 527 GWh CUR: 52% PPA Price: 733 TL/MWh (9M20) Contract Expiry: 2027 • Northern Cyprus PP benefits from USD based guaranteed capacity charge for 120 MW out
Slide 10: Overseas Operations Key Highlights
LONG TERM INVESTMENT PLANS ON TRACK 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. Capacity Utilization expected to incre
Slide 11: Consolidated Summary Income Statement
ANNEX Consolidated Summary Income Statement 9M2019 9M2020 y/y MM TL Net sales 3,800 5,268 39% Cost of sales (2,996) (4,383) 46% Gross Profit 804 885 10% General & administrative costs (75) (84) 12% Marketing expenses (1) (4) n.m. Other operating income 28 6 -78% Other operating expenses (8) (36) n.m
Slide 12: Consolidated Summary Balance Sheet
ANNEX Consolidated Summary Balance Sheet 2019 9M2020 ytd MM TL Cash and cash equivalents 122 307 153% Trade receivables 1,933 2,770 43% Inventories 284 131 -54% Total Current Assets 2,684 3,488 30% PP&E 5,499 5,846 6% Intangibles 99 122 23% Total Non-current Assets 5,817 6,123 5% Total Assets 8,501
Slide 13: Contact- Investor Relations
Contact- Investor Relations Pınar SAATCIOĞLU Head of Investor Relations and Corporate Communications pinar.saatcioglu@aksa.com.tr +90 216 681 1053 Rüzgarlıbahçe Mh. Özalp Çıkmazı No:10 Kavacık / Beykoz, Istanbul 13
Slide 14: 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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