Enerjisa Enerji Investments Gain Speed In The Third Quarter

Turkey's leading electricity distribution, retail and customer solutions company Enerjisa Enerji, had strong financial performance in the first nine months of the year.

Enerjisa Enerji's network investments reached 2 billion 306 million TL in the first 9 months of 2022. Consolidated Operating Earnings grew by 103 percent on an annual basis in the same period, reaching 10 billion 451 million TL.

Enerjisa Enerji, a stock listed company with its two major shareholders Sabancı Holding and E.ON SE and a free float of 20%, disclosed its financial statements as of 30.09.2022. According to the results, the company has increased its consolidated Operational Earnings to TL 10 billion 451 million in 9M 22, with 103% yoy growth compared to the same period of last year.

Evaluating the results of the first nine months, Enerjisa Enerji CEO Murat Pınar said, “We continue to progress in line with our vision of leading the new energy world for a better future with our strong balance sheet and agile management approach. For this reason, we continued our investments in the fields of grid, technology and customer solutions with an increasing momentum in the first nine months of 2022. In this context, our grid investments amounted to 2 billion 306 million TL in the first nine months of the year. From now on, we will continue to initiate projects that will benefit the society, develop collaborations, and create value for all our stakeholders and our country, while maintaining our stable growth path”

Dr. Michael Moser, CFO of Enerjisa Enerji, said, “We are going through an unprecedented period in the energy sector worldwide. Although we are not completely isolated from these developments, we managed to limit the negative effects with our strong balance sheet and strong risk management. The key financial developments in the first nine months of the year were the acceleration in investments and the recovery in cash flow in the third quarter, as well as the upward revision of our 2022 projections.

The Underlying Net Income increased by 59% year-on-year to TL 2,536 million in the first nine months of 2022. In addition, in October 2022, we issued 3 billion TL equivalent of bond, which includes green local bonds in compliance with both international standards and CMB regulations. We are pleased to see the high interest in our corporate bonds in the market once again”.

Enerjisa Enerji Investments Gain Speed In The Third Quarter

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