Turkey's leading electricity distribution and retail company Enerjisa Enerji continues the growth momentum in the second quarter which was achieved in the first quarter of this year. In terms of consolidated operational earnings, Enerjisa Enerji grew by 32 percent to TL 2,268 million in the first half of 2019, compared to the results of last year’s same period, while the Underlying Net Income for the same period reached TL 466 million.
Turkey’s leading electricity distribution and retail company Enerjisa Enerji, published its financial statements as of 30.06.2019. According to the results, the company has increased its consolidated operational earnings by 32% to TL 2,268M as of 1H 2019, compared to the results of the previous year. Enerjisa Enerji’s underlying net income reached TL 466 M within the same period.
Achieved strong Earnings and Cash Performance in Q2, confirming mid-term outlook
Evaluating the company's financial results for the first half of 2019, Enerjisa Enerji CEO Ziya Erdem stated that “Enerjisa Enerji managed to maintain its strong operational earnings growth, achieved in the first quarter. At the same time, accelerating the process of deleveraging with free cash flow after interest and tax about to turn positive. We have already revised our outlook for 2019 and 2020 upwards last quarter and we are happy to confirm these targets once more.”
Erdem also added: “We have already largely secured the funding for the remaining year in Q1, effectively mitigating interest rate and liquidity risk. Despite that, we continue to closely monitor the changes in the macroeconomic trends and regulation. We can flexibly adapt to these changes and realign our strategy with our agile management style.
With a continuous track record of strong earnings growth and a deleveraging trend within reach, we continue to provide an attractive investment proposition for both local and international investors especially in times of financial market turmoil”.