NATURELGAZ’S EBITDA REACHES TRY 887.3 MILLION IN 2022
Naturelgaz, a leading player in the transported natural gas market, announced its financial results for 2022. Gross profit increased by 609% year-on-year to TRY 971.9 million, while EBITDA rose by 826% to TRY 887.3 million. Net profit reached TRY 767.3 million, compared with TRY 26.1 million in the previous year.
Naturelgaz, a subsidiary of Global Investment Holdings operating in the transported natural gas market, announced its financial results for 2022.
Revenue increased by 440% year-on-year to TRY 3.758 billion in 2022. Total sales volume rose by 12% to 227.9 million Sm³.
Through its city gas business, Naturelgaz supplies natural gas distribution companies with transported natural gas to meet demand in districts and towns that are not connected to the pipeline network. Sales volume in this business increased by 54% year-on-year to 70.1 million Sm³ in 2022. The bulk CNG business also made a significant contribution to overall volume growth, with sales volume increasing by 7% to 150.5 million m³.
Net Profit Increases to TRY 767.3 Million
Gross profit increased by 609% to TRY 971.9 million in 2022. Following EBITDA of TRY 258.9 million in the first half, Naturelgaz’s full-year EBITDA reached TRY 887.3 million, up 827% year-on-year.
The growth in gross profit and EBITDA reflected higher sales volumes, increased city gas sales and a significant reduction in seasonality, which enabled more effective cost management. Price differential effects arising from larger-than-expected increases in the natural gas index, together with optimization initiatives, also contributed to the improvement.
Net profit reached TRY 767.3 million in 2022, compared with TRY 26.1 million in the previous year.
Naturelgaz Provides Natural Gas Support to Earthquake-Affected Areas
Commenting on the earthquakes centered in Kahramanmaraş that affected 11 provinces, Hasan Tahsin Turan, General Manager of Naturelgaz, said:
“May those who lost their lives in the earthquakes rest in peace. I extend my deepest condolences to their families and to our country. Our greatest hope is for the injured to make a swift recovery. From the moment the earthquakes struck, we mobilized all our resources at Naturelgaz. Alongside sending temporary accommodation containers to the region, we supplied natural gas to help meet energy needs, particularly those of healthcare facilities and hospitals.”
“We Continued Our Capacity Expansion Investments Without Interruption”
Evaluating the Company’s financial and operational performance in 2022, Turan said:
“2022 was a year in which Naturelgaz exceeded all its targets. We achieved outstanding results compared with previous years and significantly increased the number of districts and towns served, particularly through our city gas business. We also made substantial improvements in the profitability of our bulk CNG business and continued our capacity expansion investments without interruption.
“Our solar power project, which we began investing in during 2022, will be completed in the first quarter of 2023 and will play an important role in reducing the Company’s costs. Together with our colleagues, we will continue our efforts to deliver the same success in 2023. We will continue to strengthen our leading position in the transported natural gas market and diversify our operations.”
