NET HOLDING NET HOLDİNG A.Ş. | |||
Nov. 2022 | |||
Earning Reviews / 2022 Q3 | |||
*Merit Operations
**Soon
1
NET HOLDING A.Ş. | ||||
Nov. 2022 | ||||
Earning Reviews / 2022 Q3 | ||||
According to the 3rd quarter financials of Net Holding A.Ş.
•Consolidated sales realized at TL559.7mn (USD63.3mn) in 2021, increasing to TL2,243.1mn (USD121.2mn) in the third quarter of 2022. (+301% TL, 91,5% USD)
•EBITDA value realized as 177.1 mn TL (20.0 mn USD) in the third quarter of 2021; In the third quarter of 2022, with the disappearance of the effects of Covid, it increased to 752.3 mn TL (40.7 mn USD).
(+325% TL, 103% USD)
•Cash position stood at TL616.2mn (USD69.7mn) in the third quarter of 2021, compared to TL772.9mn (USD41.8mn) in the same period of 2022. (25.4% TL, -41,2% USD)
•Net financial expenses were TL351.4mn (USD39.7mn) in the third quarter of 2021, compared to TL709.4mn (USD38.3mn) in 2022. (+101.9% TL, -3,5% USD).
•The net debt position was TL 1,721 mn (USD 194.6 mn) in the third quarter of 2021, compared to TL 2,167 mn (USD 117.1 mn) in the same period of 2022.
(25.9% TL, -39.8% USD)
•Advances, stated as TL 648.5 mn under short-term deferred income, grew in line with our increased activities after the pandemic. These advances include the advances that our Casino players keep for future use due to the trust they have in our company, and the prepayments received by the hotels.
According to CMB regulation, rent costs (including buildings in operation, equipment etc.) are now required to be recorded in balance sheet, in the asset side as «Right of Use Assets», and in the liabilities side as «Right of Use Liabilities». However, as per the requirements of CMB, rent costs are recorded as part of debt in the liabilities side instead of a separate item named «Right of Use Liabilities». To clarify, new regulation implementation resulted in an increase in total debt in B&S, however, this item is not a bank loan or any financial institution debt. In balance sheet, total debt of TL3,275.8 mn includes TL2,939.8 mn financial debt and TL336 mn «Right of Use Liabilities».
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Summary
Operational Breakdown of the Financial Results;
- While our sales activities in the TRNC were TL 426.6 mn (USD 48.2 mn) in the third quarter of 2021, a total sales revenue of TL 2,103.4 mn (USD 113.7 mn) was achieved in the third quarter of 2022.
(+393% TL, +135.6% USD)
- The EBITDA value obtained from our activities in the TRNC; While it was TL 124.1 mn (USD14.0 mn) in the third quarter of 2021, it increased to TL 792.3
mn (USD42.8 mn) in 2022. (+538% TL, +205% USD)
- While our sales activities in the Balkans were TL 133.8 mn (USD 15.1 mn) in the third quarter of 2021, a total sales revenue of TL 166.1 mn (USD 9 mn) was achieved in the third quarter of 2022.
(+24% TL, -41% USD)
- The EBITDA value obtained from our operations in the Balkans was TL48.0 mn (USD5.4 mn) in the third quarter of 2021, while it was TL -15.5mn (USD-0.8
mn) in 2022.
(-132.4% TL, -115.5% USD)
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EARNING REVIEWS
Sales (mn TL)
2,500 | 2243.1 | 1,000 | |
900 | |||
2,000 | 800 | ||
301% | 700 | ||
1,500 | 600 | ||
500 | |||
1,000 | 400 | ||
559.7 | 300 | ||
500 | 200 | ||
100 | |||
0 | 0 | ||
2021 | 2022 |
EBITDA (mn TL)
752.3
325%
177.1
2021 | 2022 |
Parent Shareholders Equity (mn TL) | Net Financial Expenses (mn TL) | ||||
1,000 | |||||
12,000 | 900 | ||||
10,000 | 9,777.0 | 800 | 709.4 | ||
178% | 700 | 102% | |||
8,000 | 600 | ||||
6,000 | 500 | ||||
351.4 | |||||
400 | |||||
4,000 | 3,521.1 | 300 | |||
200 | |||||
2,000 | 100 | ||||
0 | 0 | ||||
2021 | 2022 | ||||
2021 | 2022 | ||||
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EARNING REVIEWS
140
120
100
80
60
40
20
0
600
500
400
300
200
100
0
Sales (mn USD)
121.2
92%
63.3
2021 | 2022 |
Parent Shareholders Equity (mn USD)
528.4
33%
398.2
2021 | 2022 |
45
40
35
30
25
20
15
10
5
0
50
45
40
35
30
25
20
15
10
5
0
EBITDA (mn USD)
40.7
103%
20.0
2021 | 2022 |
Net Financial Expenses (mn USD)
39.7 | 38.3 |
-4 %
2021 | 2022 |
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Net Holding AS published this content on 22 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 November 2022 14:55:07 UTC.
