Turcas Petrol : RWE & Turcas Analyst Day Presentation
December 20, 2022 at 06:40 am EST
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CCPP Denizli -
Continued performance increase
December 20th, 2022
Burak Söylemez,
Managing Director, RWE & Turcas Güney Elektrik A.Ş. (RTG)
Disclaimer
This document contains forward-looking statements. These statements reflect the present opinions, expectations and assumptions of the management and are based on information the management has at its disposal at the present time. Forward-looking statements contain no guarantee for the occurrence of future results and developments and are associated with known and unknown risks and uncertainties. The real future results and developments can therefore on the basis of different factors fundamentally deviate from the expectations and assumptions expressed here. These factors particularly include changes in the general economic situation and the competitive situation. In addition, the developments in the financial markets, exchange rate fluctuations, national and international changes in the law, particularly regarding tax regulations, and other factors can have an influence on the future results and developments of the company. Neither the company nor a company associated with it takes on an obligation to realise the statements contained in this announcement.
Agenda
Company Performance
Company Financials, KPIs & Projections
Assessment of Future Potential of Turkish Market
Gas Market & RTG's Gas Position in 2022
Final Remarks
Page 3
1. Operational Excellence
RTG continues to produce positive results
Performance
Gas Consumption
Generation
Capacity Factor**
Tech. Availability
Efficiency***
Running Hours
KPIs
(mcm)
(GWh)
(%)
(%)
(%)
h/a
2017
730
3,806
60,1%
85,1%
54,4%
6,953
2018
581
2,994
49,0%
97,5%
53,8%
5,364
2019
519
2,682
46,6%
96,8%
53,9%
4,847
2020
813
4,280
64,4%
97,3%
54,9%
7,120
2021
817
4,360
64,5%
79,3%
55,6%
7,591
2022-FY*
477
2,457
35,1%
98,3%
55,6%
6,058
Realised values as of 30/11/2022 & latest estimations for BoY-22
Generation / Available Capacity
***Generation / Gas Consumption
ISO 27001:2018 Information Security Management System Standard
ISO 9001:2015 Quality Management System Standard
ISO 14001:2015 Environmental Management System Standard
ISO 45001:2018 Occupational Health & Safety Management System Standard
ISO 50001:2011 Energy Management System Standard
Key messages
Maintained ZERO Loss Time Injury record for over 5 years. Operations and Maintenance continued whilst applying strict Covid precautions.
Technical availability of the plant is expected to stay high in 2023 after a very successful 2022, thanks to operational excellence
Market tightness and flexibility have driven spark spread development and were driving margins per gas consumed
Page 4
2. Company Financials, KPIs & Projections
Key messages
During a volatile market environment in 2022, an increase in margins is expected despite lower gas consumption compared to previous year.
RTG with very strong balance sheet does not carry any financial liability. RTG's fx denominated liabilities are only limited to long- term maintenance contracts.
Gross Profit and EBITDA figures expected to increase in the midterm period mainly due to demand growth but no relevant base load generation capacity additions. RTG continues to be part of the capacity mechanism scheme.
In 2022, RTG's capital has been decreased by a total of 712 mTL (275 mTL by repayment of capital and 437 mTL by offset of accumulated losses).
RTG is targeting a dividend payment of 100 mTL following the general assembly on December 22nd.
RTG - Actuals in m TL
mTL
2020 FY 2021 9M 2021 FY 2022 9M
Gross Profit
161.6
246.6
463.6
532.2
EBITDA
83.6
187.7
417.4
511.8
Capacity payments
67.2
53.2
72.8
90.0
Source: TFRS figures
Page 5
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Turcas Petrol AS published this content on 20 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 December 2022 11:38:07 UTC.
Turcas Petrol AS is a Turkey-based investment company, focused in the oil and energy sector. Its joint venture, Shell and Turcas Petrol, is engaged in retail and commercial sales, marketing and distribution of fuel products and lubricants. Its joint venture, RWE and Turcas South Power Generation, operates a natural gas fired combined cycle power plant in the city of Denizli, Turkey. The Company also develops geothermal, solar and wind power projects and invests in a geothermal power plant site at Aydin district, Turkey under the name of Turcas Kuyucak Geothermal Power Generation. Its segments are: Oil, which includes lubricants, engine oil and fuel products; Electricity, which consists of the production, wholesale and distribution of electricity products, and Natural Gas, which consists of wholesale business of natural gas. Its subsidiaries include: Turcas Enerji Holding AS, Turcas Elektrik Uretim AS, Turcas Elektrik Toptan Satis AS and Turcas Yenilenebilir Enerji Uretim AS.
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