PowerPoint SunusuNovember 2016 Construction Area 250.000 m2 Main Contractor...
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Investor Presentation April 2017
Transcript of PowerPoint SunusuNovember 2016 Construction Area 250.000 m2 Main Contractor...
Investor Presentation
April 2017
Milestones
Investor Presentation – April 2017
1965
• Chairman Orhan Gündüz initiated electrical contarcting business.
1974
• Yegenler Inc. Founded and began subcontracting to TEK (Turkey Electricity Corporation)
1978
• YEPA Inc. founded and material sales and supply for electrical sector initiated
1979
GALDEM Inc. founded and first industrial investment
1985
• AND Cons. founded
1998
• ORGE founded
2012
• IPO of ORGE on Borsa Istanbul
2014
• First subway project
• First metalux project Quasar Istanbul started.
2016
• Completed electrical contracting works since 1998 reached 3 million sqm.
• First subway project was put into service.
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At a glance
Investor Presentation - April 2017
INCORPORATION 1998
IPO May 2012
# OF EMPLOYEES 400 ~ 500
CAPITAL 20.000.000,-TRY
BIST STOCK CODE ORGE
EQUITY GROUP A
INDICES BIST MAIN/BIST ALL SHARES/BIST SERVICES/BIST CONSTRUCTION/ZPYKAT
FREE FLOAT 46,18
SHAREHOLDER STRUCTURE Orhan Gündüz %32,50
Nevhan Gündüz %21,32
Free Float %46,18
Growth YoY(%) 2016Q4
Assets 59
Operating Profit 95
Net Sales 73
Return (%) Last CP 8.50
1 Month 12,58
3 Months 38,21
Annual 137,78
Profitability (%) 2016Q4
EBITDA Margin 33
ROE 50
Net Profit Margin 29
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Investor Presentation - April 2017 4
Business Principles
• Lean Management- Customer Oriented-Flexible-No Defects- On Time Delivery
• ECI-Early Contractor Involvement- Subways
• Value Engineering-ECI-Subways Company+ Investor Value Maximization
• Micro Management – Daily Central + On Site Project Surveillance – Continuous
Enhancement
• Outsourcing- Headquarters – Max. Savings +Max. Job Quality
• Prioritized Projects-Infrastructure, Public Investments, Metalux Buildings
• Multi-Phase Projects- Decrease In Costs/ Increase In Efficiency
• Reputable Investor/Main Contractor/Supplier – Mean Of Risk Protection
• Solid and Liquid Financial Assets
• Optimum Debt/Assets Ratio-Min. Insolvency Risk& Risk Premium
Investor Presentation – April 2017
Major Completed Projects (2016Q4 3.000.000 m2)
CONRAD Hotel Renovation Project / 2015
Evora Istanbul Project / 2015
Mall of Istanbul Project / 2014
RonesansBiz Mecidiyekoy / 2013
Kartal-Kaynarca Metrosu / 2016
Prime Mall Antakya / 2011
Pendorya Mall / 2009
Askaynak Industrial Plant / 2007
ThyssenKrupp Industrial Plant / 2009
Istanbul Naval Museum / 2012
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Tamamlanan Başlıca Projeler
Latest Projects in Service
Project
Quasar İstanbul / Fairmont Hotel
Venue
Mecidiyeköy / İstanbul / Türkiye
Completion Date
December 2016
Construction Area
189.620 m2
Main Contractor
Viatrans A.Ş - Meydanbey Ortak Girişimi
Contract Size
16.834.657,01 EUR + 4.150.527,72 USD
Notes
Fairmont Hotel Building was taken into service as of 15 Jan 2017,
Residence Building construction is currently at the final phase
Project
Kartal-Kaynarca Subway Line
Venue
Kartal / İstanbul / Türkiye
Completion Date
November 2016
Construction Area
250.000 m2
Main Contractor
Şenbay-Öztaş-Albayrak Joint Venture
Contract Size
11.242.942 EUR
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Ongoing Projects
Investor Presentation– April 2017
İNİSTANBUL
CONCORD İSTANBUL
QUASAR İSTANBUL
KARTAL-KAYNARCA
SUBWAY
PROJECT CONTRACT AMOUNT EST. COMPLETION DATE
KARTAL-KAYNARCA SUBWAY 11.242.942 EUR JULY 2017
QUASAR İSTANBUL 16.834.657,01 EUR + 4.150.527,72 USD JULY 2017
CONCORD İSTANBUL 12.978.140 TRY DECEMBER 2017
İNİSTANBUL 16.079.074 TRY + 2.963.088 EUR DECEMBER 2017
EPIQUE ISLAND 15.000.000 TRY JULY 2018
THE MANDARINS ACIBADEM 11.935.000 TRY JULY 2018
EPIQUE ISLAND
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THE MANDARINS ACIBADEM
Tamamlanan Başlıca Projeler
New Projects
Project
Epique Island
Venue
Bodrum / Muğla / Türkiye
Est. Completion Date
Nisan 2018
Construction Area
80.000 m2
Main Contractor
Aksoy Holding
Contract Size
15.000.000 TRY+VAT
Project
The Mandarins Acıbadem
Venue
Acıbadem / İstanbul / Türkiye
Est. Completion Date
Mart 2018
Construction Area
75.000 m2
Main Contractor
Mandarins Gayrimenkul İnş. Tic. A.Ş.
Contract Size
11.935.677,35 TRY+VAT 8
Financial Statement&KPI
BALANCE SHEET 2014/12 2015/12 2016/12
ASSETS TRY TRY TRY
Current Assets 32.250.256 55.507.023 72.783.914
Cash & Equivalents 1.141.123 14.565.104 35.698.991
Non-current Assets 6.745.514 5.803.530 24.700.909
Long Term Investments 5.527.728 4.462.000 19.478.097
TOTAL ASSETS 38.995.770 61.310.553 97.484.823
LIABILITIES
Short Term Liabilities 12.574.274 18.714.389 24.508.021
Financial Dept 4.286.735 208.980 489.868
Long Term Liabilities 2.301.109 4.623.533 10.400.469
Financial Dept 24.560 6.612 1.408.738
EQUİTY 24.120.387 37.972.639 62.576.333
Capital 10.000.000 20.000.000 20.000.000
Net Income 3.543.181 10.433.501 25.038.815
Prior Years Income/Loss 3.764.012 7.078.095 16.930.525
TOTAL LIABILITIES 38.995.770 61.310.553 97.484.823
PROFIT AND LOSS STATEMENT 2014/12 2015/12 2016/12
TRY TRY TRY
Revenue 24.811.225 49.816.340 86.335.927
Gross Profit 6.640.714 14.849.994 28.665.996
Operating Income 5.980.011 12.929.314 26.917.389
Net Income Before Taxes 5.128.849 12.890.575 31.188.480
Net Income 3.543.181 10.433.485 25.038.812
Earnings per share 35% 57% 125%
Profitability (%) 2016Q4
ROA 32
ROE 50
EBITDA Margin 32
Net Profit Margin 29
Growth YoY(%) 2016Q4
Asset Growth 59
Operating Profit 95
Net Profit 140
Net Revenue 74
Equity 65
Return (%) Last close 8,50
1 Month 12,58
3 Months 38,21
6 Months 38,66
Annual 137,78 9
19,7 36,8 48,3
2014 2015 2016
Operating Capital (MTL)
Investor Presentation- April 2017 10
Financial Highlights
15.141.507 20.817.220
24.785.245
49.816.340
86.335.927
0
20.000.000
40.000.000
60.000.000
80.000.000
100.000.000
2012/12 2013/12 2014/12 2015/12 2016/12
Net Revenue
2.316.976 1.865.698
5.435.300
16.280.035
27.789.041
0
5.000.000
10.000.000
15.000.000
20.000.000
25.000.000
30.000.000
2012/12 2013/12 2014/12 2015/12 2016/12
EBITDA
2.246.296 1.605.226 3.543.181
10.433.485
25.038.812
0
5.000.000
10.000.000
15.000.000
20.000.000
25.000.000
30.000.000
2012/12 2013/12 2014/12 2015/12 2016/12
Net Profit
2.404.007
-2.681.722 -3.449.752
11.507.711
28.997.095
-10.000.000
-5.000.000
0
5.000.000
10.000.000
15.000.000
20.000.000
25.000.000
30.000.000
35.000.000
2012/12 2013/12 2014/12 2015/12 2016/12
Net Cash Position
Financial Highlights
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15%
9%
22%
33% 32%
2012/12 2013/12 2014/12 2015/12 2016/12
EBITDA Margin
15%
8%
14%
21%
29%
2012/12 2013/12 2014/12 2015/12 2016/12
Net Profit Margin
0%
5%
10%
15%
20%
25%
30%
35%
0
10.000.000
20.000.000
30.000.000
40.000.000
50.000.000
60.000.000
70.000.000
80.000.000
90.000.000
100.000.000
2012/12 2013/12 2014/12 2015/12 2016/12
Revenue vs. EBITDA
satışlar favök marjı
Credit Limits (Mn)
Yıl 2014 / 12 2015 / 12 2016 / 12
Currency TL USD EUR TL USD EUR TL USD EUR
Cash 8,12 0,00 0,00 16,73 0,00 2,28 48,70 0,00 2,75
Non-Cash 12,18 3,43 0,00 41,47 4,97 4,25 64,49 4,59 21,00
Investor Presentation- April 2017 12
Business Development- Railway Systems
• ECI- Early Contractor Involvement
• 2016/150 km-2019/489,5 km
• Ongoing Construction 156 km
• Finalized 10 subway tenders est. amount to 4.161 million €
• Total est. electrical scope %12-20
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• Istanbul Finance Center
• TCMB, SPK,BDDK, Ziraat Bankası, Halkbank, Vakıfbank, Halk GYO,vd.
• 800.000 m2 area, 2,5 milyon m2 construction
• Total est. investment 2 billion USD
• Total est. electrical scope %12-20
Business Development- Metalux-Smart Buldings/IFC
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Business Development- PPP Hospitals
• PPP Hospitals
• Finalized 21 tenders
• Ongoing 5 tenders
• Total est. construction
11.788.000 m2
• Total est. investment
10 billion USD
• Total est. electrical scope
%15-25
Analist Sunumu - 28 Mart 2017 15
Risk Protection
• Business Contracts • %100 FX contracts • Contracts Supply & General Expense scope on FX • Inflation and Currency adjustment terms • Extra claim terms on price changes
• Natural Hedge • FX Assets-TRY Liabilities • Fixed rate/ TRY loans • Low Debt/Assets Ratio
• Forward Contracts • Long term fixed rate supply contracts
• Advance Procurement • Advance procurement w. high discount / future delivery contracts
w. deferred payments at project inception • Financial contracts
Investor Presentation - April 2017
Strategy and Vision
Qualified projects with high margins in stead of numerous low qualified&margined ones
Financially solid and reputable employers and main&sub contractors
Growth focused on operational profit
Pro-active risk awareness-transfer and mitigation strategies
Deep search for Renewable Energy investment opportunities
Foreign investment and Contracting assesment linked to political & economic conditions
Metalux Buildings Subways-Railways Public Investments-PPPs
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Investor Presentation - April 2017 17
Disclaimer Orge Electrical Contracting Inc. (the “Company”) has prepared this e-mail/review/presentation (the “Presentation”) in order to provide investors general information about the Company. The contents of this Presentation is based on public information and on data provided by the Company management. Neither the Company nor any of its directors, managers or employees nor any other person shall have any liability whatsoever for any loss arising from use of this presentation. The presentation does not constitute an offer to sell or the solicitation of an offer to buy or acquire any shares of Company in any jurisdiction or an inducement to enter into investment activity. No information set out in the Presentation or referred to in such other written or oral information will form the basis of any contract. Investors and prospective investors interested in the securities of the Company are required to conduct their own independent investigations and appraisal of the business, financial condition of the Company and the nature of its securities. Except for the historical information contained herein, the statements made in this Presentation with respect to the Company’s plans, strategies, beliefs and other prospective matters are forward-looking statements that involve risk and uncertainty that are not under the Company’s control which may cause actual results to differ materially from those anticipated. Except where otherwise indicated, this Presentation speaks as of the date hereof. We undertake no duty to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
Disclaimer
Contact Information
Investor Relations Dept. Phone : +90 216 457 32 63 e-mail : [email protected] ORGE ENERJİ ELEKTRİK TAAHHÜT A.Ş. Address : Kozyatağı Mah. Değirmen Sokak Nida Kule No:18 Kat:A 34742 Kadıköy, Istanbul / TR Website : www.orge.com.tr
Investor Presentation - April 2017 18
