Strong growth continued in the first half of 2021

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 30.06.2021. According to the results, the company has increased its consolidated Operational Earnings to TL 3 billion 326 million in 1H21, with 30% yoy growth, compared to the same period of last year.

“Grid investments are the top priority to provide uninterrupted energy”

Enerjisa Enerji CEO Murat Pınar said: “In the first half of 2021 which is the start of the new regulatory period, we increased our grid investments by 95% to yoy to 1 billion 110 million. In addition to that, as the Energy of Turkey, we have been adding value to these lands for 25 years as energetic and motivated as the very first day. We are proud to be the pioneering and leading company in electric energy sector that has been offering the best service to our country and creating innovative solutions. We are deeply saddened by the recent forest wildfires in our country. Once again, we have seen the importance of uninterrupted energy for the continuity of life during and after natural disasters.

We have taken all the measures to protect our network in Toroslar region, that has been also affected from the fires and have provided alternative supply lines to ensure uninterrupted electricity to the impacted areas. We have provided generator and human support to help the fire extinguishing activities both in Toroslar and other regions. On the retail side, we have deferred the payment due dates for the impacted customers by three months. In addition, we contributed to the Sabancı Group's commitment to plant 1 million saplings.”

“Underlying Net Income increased to 1,013 million TL in 1H 2021 with a growth rate of 34%, exceeding Operational Earnings growth.”

Enerjisa Enerji CFO Michael Moser said: “In the first half year of the fourth regulatory period, we delivered strong results, thanks to our sound risk management, strong balance sheet and supportive regulatory system. We had a solid earnings growth and a strong increase in cash flow in the first half of the year. Underlying net income grew by 34% yoy compared to the same quarter of last year and reached 1 billion 13 million TL in the first half of 2021, with growth rate exceeding Operational Earnings growth. Additionally, thanks to our strong performance, our financial net debt to operational earnings ratio is down from 2.1x in 1H20 to 1.4x in 2Q21.

Reflecting the strong performance in the first half and the impact of inflation, we have revised our 2021 guidance upwards. Our revised 2021 guidance is as follows:

• 15%-20% growth in Operational Earnings. Our previous guidance was double digit growth.
• Around 2.0 billion TL Underlying Net Income.
• Year-end RAB of at least 11.2 billion TL, reflecting higher inflation.
• At least 1.8 billion TL free cash flow after interest and tax.

The intensity of the wildfires across the globe has once again showed the importance of taking immediate action to fight climate change. We see sustainability as an integral part of our strategy and we believe that all elements of Environmental, Social and Governance must be fully incorporated into the business model and business plan. We are committed to work for a more sustainable world and combat climate change.”