Enerjisa Enerji Maintains Its Financial Strength and Investment Momentum in the First Nine Months of 2025

Maintaining steady growth through its resilient business model and investment discipline in the first nine months of 2025, Enerjisa Enerji shared its financial results with investors. The company’s operational earnings increased by 7% in real terms year-over-year, reaching TL 42.6 billion, mainly driven by the strong performance of its electricity distribution business.

In line with its disciplined debt management strategy, Enerjisa Enerji successfully issued TL 15.9 billion in bonds during the same period, securing financing at favorable costs compared to the market.

Quality and Efficiency-Focused Growth in the Distribution Business

As in previous periods, the electricity distribution business continued to be the main contributor to Enerjisa Enerji’s growth. The company’s Regulated Asset Base and investment volume progressed in line with its year-end targets, while the distribution segment sustained its strategic grid investments throughout the first nine months of 2025. Through its infrastructure modernization and smart grid initiatives, Enerjisa Enerji raised its total investments to TL 11.2 billion. Across 14 provinces served by its distribution companies — Ayedaş, Başkent EDAŞ, and Toroslar EDAŞ — continued improvements in quality indicators and digitalization efforts further enhanced grid reliability and operational excellence.

Investments Progress in Line with Year-End Targets

In addition to Distribution, Enerjisa Enerji continues to operate successfully in Retail business.

Enerjisa Enerji reviewed its financial guidance for 2025. The company maintained its expectations of TL 52–57 billion in Operational Earnings, TL 21–24 billion in Investments, and TL 80-90 billion by year-end in Regulated Asset Base. With the updates in planned investment decisions throughout 2025, the Underlying Net Income is expected to reach approximately TL 7.5 billion by year-end.

This outlook demonstrates the continuation of Enerjisa Enerji’s long-term investments in Türkiye’s energy infrastructure and the company’s commitment to financial resilience and sustainable growth.

PINAR: “We continue to carry out our year-end investment plans in line with our guidance.”

Highlighting that the balance between global energy supply, climate goals, and digital transformation is becoming increasingly complex, Enerjisa Enerji CEO Murat Pınar stated:

“In such a period, success depends on a resilient business model, the ability to make the right investments at the right time, and a strong and dedicated workforce. At Enerjisa Enerji, through infrastructure modernization, digitalization, and quality-focused investments in our distribution business, we are not only addressing today’s needs but also building the energy systems of the future on the ground.

Through our Customer Solutions company, we continue to invest in renewable energy, energy efficiency, and e-mobility through Eşarj, accelerating Türkiye’s energy transition. At the same time, our financial discipline continues to offer long-term confidence to our investors. All these efforts enable us to turn our vision of ‘A better future for all’ into reality, driven by tangible results in the field.”

ULBRICH: “Our financial discipline continues to provide long-term confidence to our investors.”

Emphasizing that the full year investment plans will be pursued within the projected range, Enerjisa Enerji CFO Philipp Ulbrich stated:

“Despite challenging macroeconomic conditions, Enerjisa Enerji maintained its financial strength and credibility, delivering a very solid performance above its plans and targets for the first nine months of the year.

Through our disciplined debt management strategy, we successfully issued TL 15.9 billion in bonds during the same period, securing financing well below the market average. Our Net Financial Debt to Last Twelve Months Operational Earnings ratio remained at 1.0x, while our Free Cash Flow improved to TL -2.9 billion.

Due to the trust that financial institutions put in us we have been able to secure a long term financing in the equivalent of USD 340 mn last week from International Financial Institutions. Our consistent dividend policy, combined with our ability to achieve our investment and earnings targets, continues to offer long-term confidence to our investors and lenders. This performance reflects our management approach centered on financial discipline and profitable growth.”