Alarko Holding A.S. · BIST:ALARK

Alarko Holding A.S — Investor Presentation (June 2014)

48 slides from Alarko Holding A.S's investor presentation, June 2014

  1. Slide 1: Investor Presentation Alarko Holding A.Ş.

    INVESTOR PRESENTATION ALARKO HOLDING A.Ş.

  2. Slide 2: Table of Contents

    TABLE OF CONTENTS INTRODUCTION 1 LAND DEVELOPMENT GROUP ALARKO REIT 20 ALARKO HOLDING SHAREHOLDER 2 24 STRUCTURE & PARTICIPATION INDUSTRY & TRADE GROUP ALARKO CARRIER ALARKO HOLDING consolıDAted 3 30 revenue dıstrıbutıon TOURISM GROUP ALARKO HOLDING consolıDAted 5 33 IFRS Fınancıals SEAFOOD GROUP EN

  3. Slide 3: Introduction

    INTRODUCTION ALARKO was founded in 1954 and today, operates in five main areas: CONTRACTING & INDUSTRY SEAFOOD ENERGY LAND DEVELOPMENT & TRADE TOURISM Three of the group companies are trading in Borsa Istanbul: MARKET BIST BLOOMBERG FREE CAPITALIZATION NAME OF THE COMPANY SYMBOL SYMBOL FLOAT (US$ MI

  4. Slide 4: Shareholder Structure & Participations

    SHAREHOLDER STRUCTURE & PARTICIPATIONS ALATON 35,4% FAMILY OTHER SHAREHOLDERS FOUNDER HAVE 68,6% PARTICIPATION IN FAMILIES ALHAN HOLDING 2,0% GARİH 33,2% 0,7% DESTEK FOUNDATION FAMILY OTHER %0,1 CONSOLIDATION METHOD ALTEK (100%) ENERGY ALCEN (50%) ENERGY ALSIM (100%) CONTRACTING ALARKO REIT (51%) LA

  5. Slide 5: Revenue Distribution by Years

    REVENUE DISTRIBUTION BY YEARS 57% ENERGY 57% ENERGY 2% SEAFOOD 1% SEAFOOD 11% INDUSTRY 9% INDUSTRY &TRADE &TRADE 5% TOURISM 5% TOURISM 2011 25% CONTRACTING& LAND DEVELOPMENT 2012 28% CONTRACTING& LAND DEVELOPMENT 40% ENERGY 39% ENERGY 1% SEAFOOD 2% SEAFOOD 7% INDUSTRY 8% INDUSTRY &TRADE &TRADE 4% TO

  6. Slide 6: Net Profit by Years

    net profıt by years Alarko Holding Consolidated Net Profit (US$ MILLION) 100 M 75 M 86 50 M 60 43 34 36 33 25 M 32 26 11 0M 2006 2007 2008 2009 2010 2011 2012 2013 2014/Q1 4

  7. Slide 7: Consolidated IFRS Financials

    CONSOLIDATED IFRS FINANCIALS (US$ MILLION) SELECTED FIGURES 31.12.2011 31.12.2012 31.12.2013* 31.03.2014* REVENUES 700 908 1.143 239 OPERATIONAL PROFIT 73 36 150 18 EBITDA 93 59 188 25 NET PROFIT 60 43 86 11 EBITDA MARGIN (%) 13% 7% 16% 10% CASH&FINANCIAL INV. (1) 324 356 327 328 FINANCIAL LIABILITI

  8. Slide 8: Energy Group - Electricity Generation

    energy group - electrıcıty generatıon KIRKLARELİ 1 AND 2 GAS FIRED COMBINED CYCLE POWER PLANTS, KIRKLARELİ-TURKEY KARAKUZ HYDROELECTRIC POWER PLANT SITE VIEW, ADANA-TURKEY 6

  9. Slide 9: Drivers of Growth in the Energy Sector

    energy group - electrıcıty generatıon Energy Market Regulatory Authority Turkish Energy Market is among the fastest operates as an independent market growing energy markets in the world regulator and the market is well organized parallel to Turkey’s economic growth. and has a structured legal framew

  10. Slide 10: Energy Group - Electricity Generation

    energy group - electrıcıty generatıon The electricity generation company, ALTEK, which is a fully owned subsidiary of Alarko Holding, generates electrical energy, with 1 hydroelectric and 2 natural gas power plants, of total 177 MW generation capacity. TOTAL POWER PLANTS CONCESSION POWER (MW) STARTU

  11. Slide 11: Karabiga: New Imported Coal Fired Power Plant

    energy group - electrıcıty generatıon KARABİGA: LOCATION: New Imported Coal Fired Power Plant KARABİGA/ÇANAKKALE The EIA (Environmental Impact Assessment) report which we have obtained back in May 2012 has been revised and upgraded. We obtained the Grid Connection Permit of TEİAŞ and we received the

  12. Slide 12: Energy Group - Electricity Distribution

    energy group - ELECTRICITY DISTRIBUTION Meram Electricity Distribution Region: Konya, Karaman, Kırşehir, Aksaray, Nevşehir and Niğde KIRŞEHİR AKSARAY NEVŞEHİR KONYA NİĞDE KARAMAN 10

  13. Slide 13: Meram Electricity Distribution Company

    energy group - ELECTRICITY DISTRIBUTION Due to the liberalization of the energy sector in Turkey, Electricity Distribution companies (like Meram) were separated into Distribution and Retail Sales companies in the first quarter of 2013. We took over Meram Electricity Distribution Co. as of 30.10.2009

  14. Slide 14: Energy Group

    energy group CONSOLIDATED IFRS FINANCIALS* (US$ MILLION) SELECTED FIGURES 31.12.2011 31.12.2012 31.12.2013 31.03.2014 REVENUES 404 510 462 93 OPERATIONAL PROFIT 51 8 33 11,2 EBITDA 61 20 43 13,6 NET PROFIT 29 ** 58 14 6,5 EBITDA MARGIN (%) 15% 4% 9% 15% CASH&FINANCIAL INV. (1) 52 21 27 29 FINANCIAL

  15. Slide 15: Contracting Group

    CONTRACTING GROUP IRTISH RIVER BRIDGE, SEMIPALATINSK-KAZAKHSTAN KIEV-BORYSPIL AIRPORT, UKRAINE ANKARA-ESKİŞEHİR FAST TRAIN PROJECT, TURKEY 13

  16. Slide 16: Contracting Group

    CONTRACTING GROUP Alarko’s contracting subsidiary ALSİM mainly focuses on large scale infrastructure projects with positive cash flow. 05.05.2014 The employers are mainly; central governments & local municipalities, other local and international institutions. TOTAL BACKLOG SUMMARY (US$ M) Target DOM

  17. Slide 17: Contracting Group - Domestic Backlog

    CONTRACTING GROUP - domestıc backlog 05.05.2014 CONTRACT ALARKO’S COMPLETION CONSTRUCTION backlog PROJECTS PARTNERS LOCATION SIZE PARTION % % PERIOD (US$ MILLION) TAKSİM-YENİKAPI ALARKO- SUBWAY PROJ. HYUNDAI İSTANBUL 280 53 92,2 2007 - 2014 12 LEVENT-AYAZAĞA SUBWAY PROJ. ALARKO- Electromechanic Work

  18. Slide 18: Contracting Group - International Backlog

    CONTRACTING GROUP - ınternatıonal backlog 05.05.2014 PROJECTS PARTNERS LOCATION CONTRACT SIZE ALARKO’S PARTION % COMPLETION CONSTRUCTION % PERIOD backlog (US$ MILLION) BOZSHAKOL COPPER ORE PLANT PROJECT ALARKO KAZAKHSTAN 471 100,0 89,6 2011 - 2014 49 TALDYKOL SEWER POND LIQUIDATION PROJ. (FINAL STAG

  19. Slide 19: Contracting Group

    CONTRACTING GROUP MOTORWAY TURKEY 9% SUBWAY 23% 9% 58% 91% COPPER ORE PLANT 10% KAZAKHSTAN WASTEWATER TREATMENT PLANT CURRENT BACKLOG BREAKDOWN CURRENT BACKLOG BREAKDOWN BY COUNTRY BY PROJECT CATEGORY 17

  20. Slide 20: Contracting Group

    CONTRACTING GROUP CONSOLIDATED IFRS FINANCIALS* (US$ MILLION) SELECTED FIGURES 31.12.2011 31.12.2012 31.12.2013 31.03.2014 REVENUES 174 256 553 119 OPERATIONAL PROFIT 15 37 97 5,2 EBITDA 20 45 121 9,3 NET PROFIT 26 26 86 8,6 EBITDA MARGIN (%) 12% 18% 22% 8% CASH&FINANCIAL INV. (1) 147 191 185 183 FI

  21. Slide 21: Contracting Group - Major Completed Projects

    CONTRACTING GROUP - MAJOR COMPLETED PROJECTS DOMESTIC INTERNATIONAL Water & Waste Water (W.W.), Treatment Plants Water & Waste Water (W.W.), Treatment Plants Tuzla Biological W.W. Treatment Plant İstanbul Oran Arzew Industrial Zone Desalination & Power Plant Algeria Yarımca Petroleum Refinery W.W. T

  22. Slide 22: Land Development Group

    LAND DEVELOPMENT GROUP “ALKENT İSTANBUL 2000” Büyükçekmece, İstanbul-TURKEY 20

  23. Slide 23: Land Development Group

    LAND DEVELOPMENT GROUP The Land Development Group; Designs and builds high-quality residential communities, mainly targeting upper-middle income clients. Negotiates the contracts with landowners on a revenue or profit-sharing basis. Pre-sells the units before commencing construction. ALARKO MOS ALAR

  24. Slide 24: Portfolio Value of Alarko REIT

    LAND DEVELOPMENT GROUP 31.12.2013 31.03.2014 PORTFOLIO VALUE OF ALARKO REIT (US$ MILLION) CASH AND MARKETABLE SECURITIES 80,24 85,28 REAL ESTATE PORTFOLIO 115,40 112,47 Land in Maslak, İstanbul 18,66 18,18 Land in Eskice Village, Büyükçekmece - İstanbul 20,50 19,98 Villa’s in Eskice Village, Buyukce

  25. Slide 25: Alarko REIT IFRS Financials

    Alarko REIT IFRS FInancIals IFRS FInancIals* (US$ MILLION) SELECTED FIGURES 31.12.2011 31.12.2012 31.12.2013 31.03.2014 REVENUES 10,4 8,6 15,1 1,0 OPERATIONAL PROFIT 7,1 9,7 39,5 2,3 EBITDA 7,1 9,7 39,5 2,3 NET PROFIT 21,1 8,0 39,5 2,3 EBITDA MARGIN (%) 68% 113% 262% 130% CASH&FINANCIAL INV. (1) 68

  26. Slide 26: Industry & Trade Group

    ©) INDUSTRY & TRADE GROUP 24

  27. Slide 27: Industry & Trade Group

    INDUSTRY & TRADE GROUP Formed an equal-share partnership Is a major heating & cooling with Carrier in 1998, a subsidiary of products manufacturer, United Technology Corporation-USA. with two production plants in Istanbul. United Technology Corporation trades in the New York Stock Alarko Carrier is a

  28. Slide 28: Industry & Trade Group

    INDUSTRY & TRADE GROUP Centralized Heating and Cooling Systems MAJOR Panel Radiators Panel Radiators, Air Handling Units, EXPORT Gas and Oil Burners Gas and Oil Burners, Roof Top AC Units PRODUCTS MAJOR Boilers & Circulation Pumps PRODUCTS Split AC Units Air Handling Units UK, Germany, Greece, The N

  29. Slide 29: Industry & Trade Group

    INDUSTRY & TRADE GROUP Achieving Competitive Excellence The United Technologies Operating System 2005 2008 2009 2010 2011 2012 2016 Coaching, Trying the tools; Significantly Best-in-class, Teaching & getting some improving year-over-year Baselining results business metrics business metrics improveme

  30. Slide 30: Industry & Trade Group

    INDUSTRY & TRADE GROUP CONSOLIDATED IFRS FINANCIALS (US$ MILLION) SELECTED FIGURES 31.12.2011 31.12.2012 31.12.2013 31.03.2014 REVENUES 75 86 75 18 OPERATIONAL PROFIT 11 4,7 9,3 2,7 EBITDA 12 5,5 10,3 2,9 NET PROFIT 13 6,7 7,6 2,1 EBITDA MARGIN (%) 16% 6% 14% 16% CASH&FINANCIAL INV. (1) 26 28 26 27

  31. Slide 31: Industry & Trade Group - Main Competitors

    INDUSTRY & TRADE GROUP MAIN COMPETITORS Baymak / BDR (Holland) ECA HEATING Türk Demir Döküm (subsidiary of Vaillant) MARKET SHARES IN TURKEY Vaillant (Germany) Arçelik AIR Vestel Daikin (Japan) CONDITIONING Johnson Controls / York Trane (USA) 9,3% 9,0% 4,4% Grundfoss (Danmark) PUMPS Wilo (Germany) H

  32. Slide 32: Tourism Group

    TOURISM GROUP HILLSIDE BEACH CLUB FETHİYE-TURKEY HILLSIDE CITY CLUB ETİLER, İSTANBUL-TURKEY WINGS CINECITY İSTANBUL-TURKEY HILLSIDE CITY CLUB İSTİNYE, İSTANBUL-TURKEY 30

  33. Slide 33: Tourism Group

    TOURISM GROUP - First-class holiday village Three hillside City Clubs in İstanbul: - Located in south-west of Turkey, - hillside City Club/ Etiler in Fethiye - hillside City Club/ İstinye Park - hillside City Club/ Trio The Tourism Group, ATTAŞ, owns and operates - 330 rooms/781 bed capacity The ser

  34. Slide 34: Tourism Group

    TOURISM GROUP CONSOLIDATED IFRS FINANCIALS (US$ MILLION) SELECTED FIGURES 31.12.2011 31.12.2012 31.12.2013 31.03.2014 REVENUES 36 42 41 4,7 OPERATIONAL PROFIT -0,8 0,3 2,5 -2,5 EBITDA 2,1 2,9 5 -1,9 NET PROFIT -0,7 0,4 2 -2,1 EBITDA MARGIN (%) 6% 7% 12% - CASH&FINANCIAL INV. (1) 5,5 6,6 9,4 10,1 FIN

  35. Slide 35: Seafood Group

    SEAFOOD GROUP ALFARM ALARKO LERÖY ALFARM FACTORY, İZMİT - TURKEY 33

  36. Slide 36: Seafood Group

    SEAFOOD GROUP The Seafood Products Group, Formed an equal-share partnership with ALFARM was founded in 1991. Norwegian Leroy Seafood Group ASA in 2005. Alfarm imports seafood products This partnership has created synergy and processes them in its and growth opportunities. production plant in İzmit.

  37. Slide 37: Seafood Group

    SEAFOOD GROUP CONSOLIDATED IFRS FINANCIALS (US$ MILLION) SELECTED FIGURES 31.12.2011 31.12.2012 31.12.2013 31.03.2014 REVENUES 11 13 12 3,6 OPERATIONAL PROFIT 0,6 0,6 0,4 0,2 EBITDA 0,7 0,7 0,4 0,2 NET PROFIT 0,6 0,5 0,3 0,1 EBITDA MARGIN (%) 7% 5% 4% 5% CASH&FINANCIAL INV. (1) 0,3 0,8 0,5 0,2 FINAN

  38. Slide 38: Alarko Holding Consolidated Balance Sheet as of 31.03.2014

    alarko holdıng CONSOLIDATED BALANCE SHEET AS OF 31.03.2014 (USD) ASSETS LIABILITIES AND SHAREHOLDERS’ EQUITY CURRENT ASSETS 537.994.101 SHORT TERM LIABILITIES 332.241.397 A. Cash and Cash Equivalents 172.647.497 A. Short Term Borrowings 35.628.936 B. Financial Investments 100.847.717 B. Short Term P

  39. Slide 39: Statement of Income by Group of Companies 31.03.2014

    alarko holdıng STATEMENT OF INCOME ACCORDING TO GROUP OF COMPANIES AS OF 31.03.2014 (USD) CONTINUED OPERATIONS HOLDING TOURISM INDUSTRY ENERGY CONTRACTING SEAFOOD ELIMINATION TOTAL &TRADE & LAND DEV. Income From Sales (Out of Group net) 316.958 4.730.871 - 12.076.659 106.291.363 - - 123.415.851 Inco

  40. Slide 40: Statement of Income by Group of Companies 31.12.2013

    alarko holdıng STATEMENT OF INCOME ACCORDING TO GROUP OF COMPANIES AS OF 31.12.2013 (USD) CONTINUED OPERATIONS HOLDING TOURISM INDUSTRY ENERGY CONTRACTING SEAFOOD ELIMINATION TOTAL &TRADE & LAND DEV. Income From Sales (Out of Group net) 830.768 41.423.553 45.479 38.199.272 510.434.273 - - 590.933.34

  41. Slide 41: Statement of Income by Group of Companies 31.12.2012

    alarko holdıng STATEMENT OF INCOME ACCORDING TO GROUP OF COMPANIES AS OF 31.12.2012 (USD) CONTINUED OPERATIONS HOLDING TOURISM INDUSTRY ENERGY CONTRACTING SEAFOOD ELIMINATION TOTAL &TRADE & LAND DEV. Income From Sales (Out of Group net) 956.303 42.350.835 85.684.613 510.251.673 256.101.859 12.680.92

  42. Slide 42: Appendix 1 - Energy Group Consolidation: Generation

    APPENDIX 1 - Energy Group ConsolIdatIon GeneratIon (US$ MILLION) SELECTED FIGURES 31.12.2011 31.12.2012 31.12.2013 31.03.2014 REVENUES 73,3 62,9 38,2 12,5 OPERATIONAL PROFIT 10,5 -2,3 -1,7 -0,2 EBITDA 17,3 5,0 4,4 1,2 NET PROFIT 2,7 -0,6 -4,2 -1,2 EBITDA MARGIN (%) 23,7% 8,0% 11,6% 9,4% CASH&FINANCI

  43. Slide 43: Appendix 2 - Energy Group Consolidation: Distribution

    APPENDIX 2 - Energy Group ConsolIdatIon DIstrIbutıon (US$ MILLION) SELECTED FIGURES 31.12.2011 31.12.2012 31.12.2013 31.03.2014 REVENUES 330,4 447,3 423,5 80,6 OPERATIONAL PROFIT 41,0 10,1 34,6 11,4 EBITDA 43,8 14,8 38,7 12,4 NET PROFIT 26,0 * 58,2 18,0 7,8 EBITDA MARGIN (%) 13,3% 3,3% 9,1% 15,4% CA

  44. Slide 44: Appendix 3 - Contracting Group

    APPENDIX 3 - CONTRACTING GROUP MAIN JV PARTNERS - GLOBAL CONSTRUCTION GROUPS EBARA GS ENG. & STRABAG SIEMENS MARUBENI HYUNDAI ANSALDO CORPORATION CORP. Austria Germany Japan Korea Korea Italy Japan TECNICAS ASTALDI IMPREGILO BOMBARDIER DEGREMONT CAF OHL REUNIDAS Italy Italy Canada France Spain Spain

  45. Slide 45: Appendix - Tourism Group: Turkish Tourism Sector

    APPENDIX 4 - TOURISM GROUP TURKISH TOURISM SECTOR (Million Visitors) (US$ Billion) 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Tourism Revenues (left axis) Tourist Arrivals (right axis) 43

  46. Slide 46: Alarko Holding Disclaimer

    ALARKO HOLDING DISCLAIMER Alarko Holding A.S. (the“Company”) has prepared this presentation (the “Presentation”) in order to provide investors with general information about the Company. The contents of this Presentation is based on public information and on data provided by the Company’s management

  47. Slide 47: Corporate Communication

    CORPORATE COMMUNICATION Ömer ÇELİK Senior Vice President Finance & IR [email protected] Tel: +90 (212) 310 34 10 Niv GARİH Investor Relations Manager [email protected] Tel: +90 (212) 310 33 88 Bener DAĞLIER Deputy Finance Manager [email protected] Tel: +90 (212) 310 34 16 For

  48. Slide 48: www.alarko.com.tr

    www.alarko.com.tr

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