Aksa Energy reported record financial results in 2021 while growing its operations in 7 countries and made its largest foreign investment of its history in Uzbekistan.
• Record net profit: TRY 1.68 billion, up 257%
• Record revenues: TRY 13.9 billion with an increase of 92%
• Record EBITDA: TRY 2.6 billion, up 74%
• Record investments: 470 million USD
ISTANBUL- Aksa Energy announced its YE 2021 consolidated financial results on the Public Disclosure Platform (KAP).Operating in 7 countries, the company crowned the year, when it made the largest foreign investment in its history in Uzbekistan, with record financial results.Aksa Energy, increased its consolidated net profit more than 3 times compared to the previous year with the contribution of its FX-based revenues to TRY 1.68 billion. On the other hand, the revenues of the company, increased by 92% compared to the previous year and reached to TRY 13.9 billion.
Despite the negative impacts of Covid-19 pandemic and the global energy crisis, Aksa Energy achieved many successes both operationally and financially in 2021. The company’s Earnings Before Interest, Depreciation and Tax (EBITDA) increased by 74% compared to the previous year and reached TRY 2.6 billion with the contribution of its revenues from domestic and overseas operations.
Cemil Kazancı: “We will continue our investments that add value to our national economy”
Evaluating the financial performance of the company, Aksa Energy Chairman of the Board of Directors and CEO Cemil Kazancı said, “The year 2021 has been a year of achievements and records for us. Thanks to our investments in Asia and Africa, we have increased our net profit more than 3 times with TRY 1.68 billion and reported record growth in EBITDA and revenues. In 2021, when we realized the largest foreign investment in our history with an investment of US$ 470 million, the ratio of our net financial debt to EBITDA ratio continued to decrease and became 1.74 which is well below the industry average.”.
Speaking very positively about his future expectations, Kazancı said, “We will continue to increase our FX based revenues with our Uzbekistan power plants in the new period. In 2022, with an installed capacity of more than 2,700 MW, half of is abroad, we will continue to work with all our strength to add value to both our country and the regions where we operate.
