Global Yatirim Holding A.s. · BIST:GLYHO
Global Yatirim Holding A.s — Global Investment Holdings — FY2024 Earnings Presentation
24 slides from Global Yatirim Holding A.s's earnings presentation, 2025
Slide 1: Global Investment Holdings Financial Presentation FY 2024
GLOBAL INVESTMENT HOLDINGS Financial Presentation FY 2024
Slide 2: Corporate Portfolio
Corporate Portfolio Ports Power Gas Mining Finance Real Esate GFS HOLDING A.Ş. 90.3% 50.9% 60.0% 97.7% 66.6% 100% ▪ Van's first ▪ The world's largest ▪ Co/Tri generation: ▪ Turkey’s & Europe’s ▪ One of Turkey’s ▪ AUM: 118.9bn TL (YE shopping centre independent cruise 59.3 MW installed leading non-pi
Slide 3: I – Financial Review
G GLOBAL INVESTMENT HOLDINGS |— FINANCIAL REVIEW
Slide 4: Financial Highlights (without IAS29)
Financial Highlights (without IAS29) 4
Slide 5: Financial Highlights (in USD terms)
Financial Highlights (in USD terms) Consolidated Revenues Consolidated EBITDA Consolidated Net Income (mn USD) (mn USD) (mn USD) 94.0 515.3 217.4 25% 36% 38% 413.6 68.2 159.3 2023 2024 2023 2024 2023 2024 The conversion was made using the period-end exchange rates of the respective years. Following
Slide 6: Financial Highlights
Financial Highlights Without IAS29 As Per IAS29 Net revenues (mn TL) 2024 2023 % Change 2024 2024 % Change Gas 4,954 3,136 58% 5,712 5,802 -2% Power 1,184 927 28% 1,353 1,689 -20% Mining 441 365 21% 509 671 -24% Ports 1 7,332 3,810 92% 8,478 6,999 21% Brokerage&Asset Management 1,554 1,205 29% 1,793
Slide 7: GIH Group Companies 2025 Guidance (without IAS29)
GIH Group Companies 2025 Guidance (without IAS29) Port Infrastructure 2024 2025 Guidance 2 Revenue (mn TL) (exc. IFRIC 12, mn TL) 7,331.7 40-60% Growth Adjusted EBITDA (exc. IFRIC 12, mn TL) 4,605.0 40-60% Growth Gas (Naturelgaz) 2024 2025 Guidance Revenue (mn TL) 4,954.4 20-40% Growth Operating EBI
Slide 8: Financial Highlights (as per IAS29): Change in Revenue & EBITDA
Financial Highlights (as per IAS29) Change in Revenue & EBITDA Revenue (mn TL)1 EBITDA (mn TL) 1Revenues exclude the impact of IFRIC 12 on Cruise Ports amounting to 2,697mn TL for 2024 and 1,313mn TL for 2023 8
Slide 9: Financial Highlights: Change in P&L
Financial Highlights: Change in P&L ▪ GIH reported a consolidated net profit of 3,314.7mn TL in 2024, compared to a net profit of 2,898.8mn TL in 2023, indicating 14% increase yoy. The bottomline incorporated TL 2.0bn of non-cash expense, of which TL 2,437.4mn were depreciation and amortization, TL
Slide 10: Debt Structure (as per IAS29)
Debt Structure 1 (as per IAS29) Interest Year of Amount Holding standalone debt (TL m) Currency Rate Maturity TL mn US$ mn TL bond (*) TL fixed 2025 530.0 15.0 Secured bank loans TL fixed 2025 0.0 0.0 Secured bank loans EUR fixed 2025 874.3 24.8 Secured bank loans USD fixed 2026 642.2 18.2 Gross deb
Slide 11: Debt Structure (as per IAS29)
Debt Structure 2 (as per IAS29) GIH Consolidated Gross Debt St Lucia Project Financing Ports (other) 2% 12% GIH Consolidated Maturity Gross Debt <15yr (Excluding Ports) 23% GIH Consolidated Gross San Juan Project GPH long-term debt: Debt: 1.2mia USD Financing 818mn USD 15% Consolidated Gross Debt Na
Slide 12: Net Debt/EBITDA (as per IAS29)
Net Debt/EBITDA (as per IAS29) ➢ The primary reasons for the increase in Net Debt/EBITDA after 2023 are the increase in gross debt due to the project financing of the San Juan, St. Lucia, and Liverpool ports, as well as the financing related to the delisting of GPH from the London Stock Exchange. In
Slide 13: III – Financial & Operational Performance by Division
III – FINANCIAL & OPERATIONAL PERFORMANCE BY DIVISION
Slide 14: Ports Division: Global Ports Holding (GPH)
Ports Division: Global Ports Holding (GPH) Total Calls Cruise Occupancy Ratio 116% 118% 655 115% 113% 105% 106% 109% 105% 105% 591 590 5678 100% 103% 98% 99% 113% 495 489 489 109% 104% 472 463 463 4432 108% 106% 107% 107% 100% 441 440 430 104% 406 389 377 95% 95% 353 349 347 313 306 385 322 303 242
Slide 15: Ports Division: Global Ports Holding Plc (GPH)
Ports Division: Global Ports Holding Plc (GPH) Revenue (mn TL)1 ▪ 2024 marked a record-breaking year for the global cruise industry, surpassing even the pre-pandemic levels of 2019. Looking ahead to 2025 and beyond, forward bookings have 8,478 reached record highs, reinforcing strong growth expectat
Slide 16: Gas Division: Naturelgaz
Gas Division: Naturelgaz Volume (mn sm3) ▪ Sales volume reached 324mn Sm3 in 2024, representing an increase of 29% yoy and marking the highest 324 annual sales volume in the company's history. 251 29% ➢ The volume increase was largely driven by the City Gas business segment. The sales volume of the
Slide 17: Power Generation: Distributed Energy, Biomass and Solar
Power Generation: Distributed Energy, Biomass and Solar Total Installed Capacity 104.3 MW ▪ Total installed capacity reached 104.3 with the commissioning of a 6.7 MWp solar power plant at one of the biomass Solar; power plants in October 2024. 10.8 ▪ Consus Enerji’s offer were accepted for a tender
Slide 18: Mining Division: Straton
Mining Division: Straton Revenue (mn TL) 671 -%24 509 ▪ The Company, because of the decline in demand from the local and European markets, reported a sales volume of 244,230 tons in representing a 23% decrease yoy. ▪ The Company’s main export markets continued to be Spain, Italy and Egypt. Export re
Slide 19: Real Estate Division: Ardus
Real Estate Division: Ardus • The Real Estate division’s revenues include rent revenues and residential/commercial sales revenues. ➢ In 2024, excluding IAS 29, the Real Estate segment recorded a 49% YoY revenue growth and a 58% increase in EBITDA. After applying the IAS 29 inflation adjustment, reve
Slide 20: Asset Management & Brokerage Division
Asset Management & Brokerage Division: Istanbul Asset Management & Global Securities & Global MD ▪ Revenues of the brokerage and asset management division consists of securities brokerage commissions, interest revenues on margin lending transactions, portfolio management fees, proprietary trading re
Slide 21: IV – Appendix
G GLOBAL INVESTMENT HOLDINGS IV — APPENDIX
Slide 22: Balance Sheet (as per IAS29)
Balance Sheet (as per IAS29) (TL Million) 31 Dec 2024 31 Dec 2023 ASSETS Current assets 15,016.1 12,791.4 Cash and banks 7,933.3 6,346.9 Marketable securities 1,052.5 1,009.5 Trade receivables and receivables from operations in finance sector 3,399.9 2,868.2 Inventories 629.8 835.2 Other current ass
Slide 23: Income Statement (as per IAS29)
Income Statement (as per IAS29) (TL Million) FY 2024 FY 2023 Total gross revenues 20,876.39 18,892.38 Cost of sales and services -12,040.42 -11,123.54 Gross profit 8,835.98 7,768.83 Operating expenses -4,252.39 -4,021.69 Other operating income/(loss), net 430.81 38.07 Equity pickup asset gains/(loss
Slide 24: 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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