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Enerjisa Enerji announces strong Q1 results
In 1Q 2019, the Operational Earnings of Enerjisa Enerji, the leading power distribution and retail company in Turkey, reached 1.1 billion TL, with a 30% yoy growth compared to the previous year, whilst in the same period, the Underlying Net Income of Enerjisa Enerji, reached 297 million TL with a 22% yoy growth.
Enerjisa Enerji has published its financial statements as of 31.03.2019. Turkey’s leading electricity distribution and retail company Enerjisa Enerji, has increased its consolidated operational earnings by 30% to 1,126 m TL as of 1Q 2019, compared to the results of the previous year. Enerjisa Enerji’s underlying net income reached 297 million in the same period.
Continuing growth leading to upward revision to mid-term targets
“Enerjisa Enerji closely monitors the changes in the macroeconomic trends and regulation and develops effective risk management policies to achieve a long-term and sustainable success. Hence, following the IPO in February 2018, we sustained our successful financial and operational performance, exceeded our targets and generated a real growth for our shareholders in 2018. We have seen another strong quarter with growth both in operational earnings by 30% and underlying net income by 22% yoy. Hence, we are revising our midterm targets by giving higher operational and financial targets for 2019 and 2020. This outlook is in-line with our ambition to generate real earnings and dividend growth, based upon a sustainable cash flow, therefore providing an attractive investment proposition for both local and international investors” stated Sascha Bibert, CFO of Enerjisa Enerji.
Strong Earnings and Cash Performance in Q1
“Enerjisa has an agile management strategy and over the course of 2018, the company has demonstrated its ability to maintain healthy growth despite volatile macro environment. In 1Q19, we have seen a very strong cash generation, on top of our strong earnings growth. Furthermore, we have already largely secured the funding for the remaining year 2019, effectively mitigating interest rate and liquidity risk.” stated Ziya Erdem, CEO of Enerjisa Enerji.