The sales revenues of Naturelgaz, a subsidiary of Global Investment Holdings, increased by 440% in 2022 compared to the previous year and amounted to approximately ₺3.76 billion.
The sales revenues of Naturelgaz, a subsidiary of Global Investment Holdings, increased by 440% in 2022 compared to the previous year and amounted to approximately ₺3.76 billion.
According to the statement made by Global Investment Holdings, the total sales volume of Naturelgaz, which operates in the transported natural gas market, increased by 12% last year to 227.9 million cubic meters.
In the city gas business line, in order to meet the natural gas needs of districts and towns that are not connected to the pipeline network, the sales volume of Naturelgaz in this business line, which sells natural gas to natural gas distribution companies by transportation, increased by 54% compared to the previous year and reached 70.1 million cubic meters in 2022.
The gross profit of Naturelgaz increased by 609% in 2022 to ₺971.9 million. Earning ₺258.9 million in profit before interest, depreciation and tax (EBITDA) in the first half of last year, Naturelgaz’s year-end EBITDA reached ₺887.3 million, an increase of 827% compared to the previous year.
The growth was driven by the increase in volume, increased city gas sales, and a significant reduction in the seasonality effect, thus effectively managing the costs, the price differential effects stemming from the natural gas index increases that exceeded expectations, and optimization studies.
The period net profit of Naturelgaz, which was ₺26.1 million in the previous year, reached ₺767.3 million at the end of 2022.
Naturelgaz General Manager Hasan Tahsin Turan, whose views are included in the statement, gave information about the company’s aid to disaster areas after the earthquakes in Kahramanmaras.
Turan said, “From the first moment of the earthquake, we, as Naturelgaz, have mobilized all our resources. While sending living containers to the region, we provided natural gas support in order to meet the energy needs of health institutions and hospitals in particular.”
Evaluating the financial and operational performance of the company for the last year, Turan said:
“For Naturelgaz, 2022 has been a year where we exceeded all the targets we set. In 2022, when we achieved very successful results compared to previous years, we significantly increased the number of districts and towns we reached, especially in our city gas business line. In 2022, when we experienced significant improvements in profitability in the field of bulk CNG, we continued our investments to increase capacity without interruption. Our SPP project, which we started to invest in in 2022, will be completed in the first quarter of 2023 and will play an important role in reducing the costs of our company. We will continue our successful work together with our teammates to show the same success in 2023. We will continue to strengthen our leading position in the transported natural gas market and diversify our activities.”
Source: AA / Prepared by Irem Yildiz