Enerjisa Enerji sustained growth momentum while carrying 1.3 billion TL investments in the first nine months of 2020
Turkey’s leading electricity distribution and retail company Enerjisa Enerji sustained its growth momentum in the third quarter despite the ongoing uncertainties due to Covid19. Enerjisa Enerji, made 1 billion 296 million TL worth of grid investment in the first nine months of 2020. Consolidated Operational Earnings grew by 20 percent yoy to TL 4 billion 188 million in the first nine months of 2020, while the Underlying Net Income also demonstrated strong performance during the same period.
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 30.09.2020. According to the results, the company has increased its consolidated Operational Earnings to TL 4 billion 188 million in 9M2020 with 20% 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: “Covid19 pandemic has underlined the importance of risk management and the high interrelation between the companies and the society. Amid the pandemic, with our Responsible Public Service approach, our priority has been ensuring the health of our stakeholders and the provision of uninterrupted electricity, which is a basic human need. With our business continuity and crisis committees, we took early and correct measures for operational sustainability. Following the normalization measures in Turkey, the electricity demand has started to recover in the third quarter. In this period, we delivered a strong performance with our customer oriented approach.
Despite the pandemic, our grid investments reached TL 1 billion 296 million in the first nine months of 2020, increasing by 56% yoy compared to the same period of previous year. Reaping the benefits of these investments, we have continued to facilitate the lives of our customers and to provide sustainable solutions. With the support of our strong balance sheet, we will keep investing in the electricity grid to ensure provision of uninterrupted energy in the coming periods.”
We attach importance to sustainable solutions
As Enerjisa, we attach importance to sustainable and innovative solutions for our customers. In this context, in October, we restructured our end-to-end solution portfolio aiming to increase energy efficiency and reduce carbon emissions of our corporate customers under the roof of “The Energy of My Business”. This portfolio combines a wide range of environmentally friendly solutions including Solar Power Plant installation services, cogeneration solutions, energy efficiency applications especially in areas such as HVAC, electric motors and lightening, electrical vehicle charging station management and green energy certifications.
“Revised guidance upwards for Underlying Net Income to around 40% yoy growth for the year end
”Enerjisa Enerji CFO Michael Moser said: “We had a very positive earnings growth in the first nine months of 2020 and a strong recovery in cash flow in the third quarter. We, as Enerjisa Enerji, have prepared ourselves well for the potential outcomes of the pandemic and have implemented several risk mitigation measures on time. Thanks to the actions we have taken, our prudent balance sheet management and the supportive regulatory regime, we have experienced very moderate impacts due to Covid-19 in our financials. Based on our performance in the first nine-months of 2020, we revise our guidance for 2020 Underlying Net Income upwards to around 40% year-over-year growth.
The need for further investments into the energy infrastructure and in particular into the networks as the backbone of the Turkish industry, make us confident of a prosperous ‘New Energy World’ in Turkey also in the years to come.”