Global Yatirim Holding A.S. · BIST:GLYHO
Global Yatirim Holding A.S — Global Investment Holdings — H1 2014 Earnings Presentation
20 slides from Global Yatirim Holding A.S's earnings presentation, 2014
Slide 1: Financial Presentation H1 2014
GLOBAL INVESTMENT HOLDINGS Financial Presentation H1 2014
Slide 2: Current Portfolio
Current Portfolio Global Investment Holdings Ports Energy Real Estate Finance Global Ports Holding Global Energy Pera REIT/Global RE Global Securities (100%) (100%) (50%)/(100%) (67.4%) Ege Ports Kusadasi CNG Mining Power AZ Global Asset (72.5%) Distribution Generation • Sümer Park Mall & Management
Slide 3: I – Financial Review
G GLOBAL INVESTMENT HOLDINGS |— FINANCIAL REVIEW
Slide 4: Financial Highlights
Financial Highlights (TL mn) Net revenues Q1 2014 Q2 2014 Q1 2013 Q2 2013 H1 2014 H1 2013 %change Energy 22.7 35.3 11.2 12.8 58.0 24.0 142% Ports 36.3 49.0 22.1 38.7 85.3 60.8 40% Finance 4.9 4.9 7.1 6.7 9.9 13.8 -29% Real Estate 2.5 1.7 2.1 5.3 4.2 7.4 -43% Holding stand-alone 0.0 0.0 0.0 0.0 0.0 0
Slide 5: Major Developments
Major Developments CORPORATE: Share Buyback: The "Share Repurchase Program (2012)" has been completed as of November 11, 2013 with the expiration of the 18-month repurchase period. In line with the Program, 20,791,765 shares, representing 9.24% of Company's share capital of TL20,791,765 in nominal
Slide 6: Financial Highlights: Change in Revenue & EBITDA
Financial Highlights: Change in Revenue & EBITDA Revenue (H1 2013 vs. H1 2014) Revenue : TL51.5mn 180 -3.2 -3.8 160 140 34.0 120 24.5 100 80 158.5 60 107.0 40 20 0 H1 2013 Ports Energy Real Estate Finance&others H1 2014 EBITDA (H1 2013 vs. H1 2014) (1) EBITDA : TL24.0mn 120 -7.7 -0.2 100 13.7 80 18.
Slide 7: Financial Highlights: Revenue
Financial Highlights: Revenue During the first six months of 2014, Global Investment Holdings’ (GIH) revenues reached TL158.5mn compared to TL107.0mn for the same period last year, representing an increase of 48%. This increase is due to robust operating performance of energy and port business seg
Slide 8: Financial Highlights: EBITDA
Financial Highlights: EBITDA In H1 2014, GIH reported consolidated EBITDA of TL41.3mn. The comparable figure for the same period for 2013 was TL18.3mn, excluding the TL54.5mn in negative goodwill gain from asset acquisitions. The Port Division’s EBITDA was reported as TL46.5mn in H1 2014 compare
Slide 9: Financial Highlights: Change in P&L
Financial Highlights: Change in P&L GIH reported a consolidated net loss of TL-33.1mn in the first half of 2014, compared to a net profit of TL3.5mn in H1 2013. The main reasons behind the decrease were lower goodwill gains from acquisitions as well as higher depreciation and amortization charges.
Slide 10: II – Operational Performance by Division
II – OPERATIONAL PERFORMANCE BY DIVISION 10
Slide 11: Global Ports Holding
Global Ports Holding GPH Total Revenues & EBITDA In H1 2014, the Port Division’s revenues totaled TL85.3mn, representing an increase of 40% over the same period of 2013. 90 This increase is mainly attributable to the robust operational performance of Ege Port and the Port of Bar, increase in per T
Slide 12: Global Energy: Naturelgaz & Straton Mining
Global Energy: Naturelgaz & Straton Mining Naturelgaz The Group’s Energy Division revenues in the H1 2014 Revenue comprised of CNG (Naturelgaz) and feldspar (Straton) (TL mn) sales, totalling TL58.0mn. 60 Naturelgaz recorded revenues of TL48.0mn during the first 50 six months of 2014, more than
Slide 13: Global Energy: Other Investments
Global Energy: Other Investments Tres Energy had signed its first contract of 3.3MW capacity with a paper products company and finished the construction process of the facility. Additionally, Tres Energy currently holds two contracts of 6.6MW capacity each, with a ceramic tile factory and a forest
Slide 14: Pera REIT & GIH Real Estate Portfolio
Pera REIT & GIH Real Estate Portfolio H1 2014, revenues of the Real Estate Division were comprised of rent revenues and residential sale revenues of Pera, a listed REIT. Rental revenues were generated from the Denizli Sumerpark Shopping Mall, which started operations in March 2011. The Denizli S
Slide 15: Global Securities & AZ Global
Global Securities & AZ Global 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
Slide 16: III – Appendix
lili - APPENDIX Q GLOBAL INVESTMENT HOLDINGS 16
Slide 17: Balance Sheet
Balance Sheet (TL mn) 30 June 2014 31 Dec 2013 ASSETS Current Assets 441.9 386.4 Cash and Banks 88.8 74.3 Marketable Securities 11.4 23.0 Trade Receivables 130.4 81.5 Inventories 30.4 27.8 Other Receivables and Current Assets (1) 88.8 68.7 Assets Held for Sale 92.1 111.0 Non-current Assets 1,639.9 1
Slide 18: Income Statement
Income Statement (TL mn) H1 2014 H1 2013 Total gross revenues 158.5 107.0 Cost of sales and services -109.1 -64.6 Gross Profit 49.4 42.4 Operating expenses -56.7 -48.4 Other operating income/(loss), net 4.6 53.6 Gross operating profit/(loss) -2.8 47.5 Equity pickup asset gains/(losses) 0.9 -0.8 Fina
Slide 19: Debt Position
Debt Position Carrying amount Holding standalone debt (TL mn) Currency Interest Rate Maturity (TL mn) Eurobond, gross USD fixed 2017 85.2 TL bond TL floating 2015 75.0 TL bond TL floating 2016 75.0 TL bond TL floating 2016 85.0 Unsecured bank loans USD floating 2016 60.1 Unsecured bank loans TL fixe
Slide 20: 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
Global Investment Holdings — H1 2014 Earnings Presentation on 6ix