GSD Holding A.S. · BIST:GSDHO
GSD Holding A.S — Q3 2023 Earnings Presentation
27 slides from GSD Holding A.S's earnings presentation, Nov 9, 2023
Slide 1: Q3 2023
Q3 2023 Posted on 9 November 2023
Slide 2: GSD Holding at a glance
1986 Q3 2023 Q3 2023 Established in TL 406.7 TL 8,445.9 1986 Million Million Consolidated Net Income excluding non- Total Assets controlling interest Group entities listed on 2 Borsa Istanbul (BIST) 2
Slide 3: GSD Holding Business Lines
GSD Holding Business Lines Finance Maritime Energy GSD Holding operates in finance, marine and energy sectors through its subsidiaries. 3
Slide 4: Finance - Bank
Finance - Total Assets (as of Q3 2023) Established in TL 922.5 1999 Million Total Net Income 100% (as of Q3 2023) Owned by GSD Holding TL 159.0 Million 4
Slide 5: Finance - Factoring
Finance - Total Net Income excluding non- Total Assets controlling interest (as of Q3 2023) (as of Q3 2023) Established in TL 1,070.7 TL 87.2 1994 Million Million Factoring Receivables 88% (as of Q3 2023) Owned by GSD Holding TL 1,026.6 Million 5
Slide 6: Maritime
Maritime - GSD Marin Total Net Income Total Comprehensive Established in excluding non-controlling Income excluding non- interest controlling interest 1992 (as of Q3 2023) (as of Q3 2023) & Listed on TL 27.9 TL 1,208.2 Million Million BIST GSD Shipping Total Assets Established in (as of Q3 2023) 201
Slide 7: Energy
Energy The first and only power plant that works with asphaltites 9.60% in Turkey Owned by GSD Holding Member of 405 MWe EMRA Thermal Energy Plant Energy Market fuelled by asphaltite. Regulatory Authority 7
Slide 8: GSD Group Financial Performance
GSD Group Financial Performance TL Million. Consolidated Banking Factoring Marine Holding Eliminations Q3 2023 Total Revenues 248.2 322.9 512.4 4.1 (30.1) 1,057.5 Gross Income 231.3 187.1 72.1 0.9 (8.2) 483.3 Operational Income 183.2 144.1 71.2 22.1 (0.8) 419.9 EBIT 183.2 144.1 82.6 206.5 (0.8) 615.
Slide 9: Consolidated Operating Income
Consolidated Operating Income 654.3 Q3 2023 22.1 419.9 71.2 Q3 2023 183.2 Q3 2022 Banking Factoring 144.1 Marine Holding Q3 2023 Q3 2022 Consolidated Operating Income / Business Sector Shares in Consolidated Loss - TL Million Operating Income - TL Million (*) (*) Business Sector Shares are illustrat
Slide 10: Consolidated Operating Income
Consolidated Operating Income 497.5 Q3 2023 Q3 2022 Breakdown of 183.2 Consolidated 144.1 135.4 Operating Income by 71.2 the Business Segments 42.0 22.1 – TL Million (15.9) Banking Factoring Marine Holding (*) Business Sector Shares are illustrated before intra-group eliminations. 10
Slide 11: Consolidated Net Income excluding non-controlling interest
Consolidated Net Income excluding non-controlling interest 851.2 Q3 2023 132.6 406.7 159.0 Banking Factoring 27.9 Marine Holding 87.2 Q3 2023 Q3 2022 Consolidated Net Income/Loss Business Sector Shares in Consolidated TL Million Net Income/Loss - TL Million (*) (*) Business Sector Shares are illustr
Slide 12: Consolidated Net Income excluding non-controlling interest
Consolidated Net Income excluding non-controlling interest 446.0 Q3 2023 Q3 2022 279.6 Breakdown of Consolidated 159.0 Net Income by the 131.7 Business Segments – 101.0 87.2 TL Million 27.2 27.9 Banking Factoring Marine Holding (*) Business Sector Shares are illustrated before intra-group eliminatio
Slide 13: Consolidated Comprehensive Income excluding non-controlling interest
Consolidated Comprehensive Income excluding non-controlling interest 1,581.6 Q3 2023 129.6 156.9 86.0 Banking Factoring 1,436.0 Marine Holding 1,208.2 Q3 2023 Q3 2022 Consolidated Comprehensive Business Sector Shares in Consolidated Income/Loss excluding non-controlling Comprehensive Income excludin
Slide 14: Consolidated Comprehensive Income excluding non-controlling interest
Consolidated Comprehensive Income excluding non-controlling interest Q3 2023 1,208.2 Q3 2022 1,031.9 Breakdown of Consolidated Comprehensive Income by the 278.8 Business Segments – 156.9 129.6 101.0 86.0 TL Million 26.9 Banking Factoring Marine Holding (*) Business Sector Shares are illustrated befo
Slide 15: A 405 MWe Powerplant in Southeast Turkey
Silopi Elektrik offers many Controllable fuel costs and GSD Holding sold back 5.4% its advantages that are not provided reliable fuel supply. shares in Silopi Elektrik. Also the by other thermal power plants. capital of Silopi Elektrik was increased to TL 1.5 billion with a paid capital increase and
Slide 16: GSD Marin fleet
Cano Maritime Hako Maritime Nehir Maritime M/V Cano M/V Hako M/V Nehir Malta Malta Marshall Islands GSD Marin is the first and the only public 409k DWT – Current cargo carrying capacity All 9 ships that have been completed are shipping company in Turkey. under management. managed by GSD Marin Focuse
Slide 17: GSD Shipping fleet
Mila Maritime Zeyno Maritime Dodo Maritime Neco Maritime Lena Maritime Nejat Maritime M/V Mila M/V Zeyno M/V Dodo M/V Olivia M/V Lena M/V Nejat Malta Malta Malta Malta Marshall Islands Marshall Islands GSD Shipping B.V. is established as 100% subsidiary of GSD Holding in Nehir Maritime Ltd., a compa
Slide 18: Net Foreign Currency Position
USD Million USD Million 30.1 Net Foreign 213.7 Currency Position GSD Holding Unconsolidated GSD Holding Consolidated 18
Slide 19: Financial Highlights Consolidated Income Statement
Financial Highlights Consolidated Income Statement $ Million TL Million TL Million Changes TL Million Q3 2023 Q3 2023 Q3 2022 % Revenues 65.7 1,455.1 1,473.4 (1)% Gross Income 21.8 483.3 712.3 (32)% Operational Income 19.0 419.9 654.3 (36)% EBIT 27.8 615.7 1,040.9 (41)% Tax (net) (6.8) (150.5) (88.0
Slide 20: Financial Highlights Consolidated Balance Sheet
Financial Highlights Consolidated Balance Sheet $ Million TL Million TL Million Changes TL Million Q3 2023 Q3 2023 Q3 2022 % Cash and Cash Equivalents 20.4 559.1 618.8 (10)% Financial Investments 54.9 1,503.3 922.2 63% Loans and Advances given to customers. net 5.8 155.9 595.9 (73)% Factoring Receva
Slide 21: Financial Highlights by Business Segments
Financial Highlights by Business Segments Q3 2023 TL Million Banking Factoring Marine Holding Eliminations Total Cash and Cash Equivalents 22.0 27.9 554.9 37.7 (83.4) 559.1 Financial Investments 603.9 - 55.2 844.2 - 1,503.3 Loans and Advances given to customers. net 265.1 - - - (107.1) 158.0 Factori
Slide 22: Q3 2023 Key Performance Indicators - Banking
Net Profit (TL Million) 159.0 101.0 Profitability Q3 2023 Q3 2023 Q3 2022 Key Performance Core Capital Adequacy Ratio Return on Assets Ratio Indicators – 22.3% Banking 13.9% 15.1% Strong Key 12.7% Indicators Q3 2023 Q3 2022 Q3 2023 Q3 2022 22
Slide 23: Q3 2023 Key Performance Indicators - Banking
22.3% Return on Asset Ratio 2.5% Sector GSD 34.3% Q3 2023 Return on Key Performance Equity Ratio 30.3% Indicators – Sector GSD Banking 15.0% Core Capital 13.9% Adequacy Ratio Sector GSD 23
Slide 24: Q3 2023 Key Performance Indicators - Factoring
Net Income excluding non-controlling interest Total Revenue (TL Million) (TL Million) 3,072.2 87.2 1,979.1 27.2 Q3 2023 Q3 2023 Q3 2022 Q3 2023 Q3 2022 Key Performance Net Interest Margin Indicators – Factoring 20.62% 9.57% Q3 2023 Q3 2022 24
Slide 25: Q3 2023 Key Performance Indicators - Marine
5,091.5 3,459.3 Total Assets (TL Million) Q3 2023 Q3 2022 3,720.9 Equity Q3 2023 excluding 2,415.2 non-controlling Key Performance interest Indicators – (TL Million) Q3 2023 Q3 2022 Marine 767.5 Revenues excluding non- 512.4 controlling interest (TL Million) Q3 2023 Q3 2022 25
Slide 26: Shareholders of GSD Holding as of Q3 2023
Shareholders of GSD Holding as of Q3 2023 25.5% % M. Turgut Yılmaz GSD Holding (buy-backed shares) MTY Delta Denizcilik İç ve Dış Ticaret 59.9% 10.0% Adeo Turizm Otelcilik Ticaret Limited Şirketi 4.5% Other privileged shareholders 0.1% Publicly owned 0.0% 26
Slide 27: Contact Information
Contact Information www.gsdholding.com.tr +90 216 417 10 08 Financial Affairs and Investor Relations Department Nilay Tulum Tuğrul Duman Financial Affairs Manager Financial Affairs Assistant Manager [email protected] [email protected]