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Aksa Energy Net Profit Soars Fivefold in Half Year Results

Aksa Energy Net Profit Soars Fivefold in Half Year Results


The financial records continued on 2022 half year results


Net Profit: TRY 2,46 billion with 404% increase

Revenues: TRY 18,6 billion with 290% increase

EBITDA: TRY 3,32 billion with 202% increase


Continuing its overseas investments at full speed, Aksa Energy increased its net profit by 5 times to TRY 2.46 billion compared to the same period of the previous year. The company increased its revenues by nearly 4 times and announced TRY 18.6 billion in the first 6 months of the year.


According to Aksa Energy's 2022 first half results published on Public Disclosure Platform (KAP), the Company also tripled its EBITDA by reaching TRY 3.32 billion level. Aksa Energy announced its net financial debt to EBITDA ratio of 1.43 and underlined that the Company has managed to keep this ratio below industry average even during record investment period.


Aksa Energy Chairman and CEO Cemil Kazancı evaluated the first half performance of the company and stated that their utmost target in the following period will be to finalize the capacity agreement of the combined heat and power plant project in Kazakhstan. Mr. Kazancı continued as follows:


“We are taking firm steps towards our sustainable growth and sustainable profitability targets both in Turkey and abroad. We are proud of being able to create value for our shareholders by breaking new financial records in our 2022 half year results. We carry on our continuous investments in line with our global growth vision which we have set and consistently maintained since 2015. Beginning commercial operations at our power plant investments in Central Asia made both our power generation portfolio and revenues geographically well distributed and balanced. Furthermore, I believe that the tender we won in July for 240 MW Kyzylorda combined heat and power plant in Kazakhstan would serve Aksa Energy stakeholders the best.  Starting the installation phase subsequent to the complation of agreement process will be among our top priorities for the rest of the year.”