Enerjisa plans to go public by 2018

Published 05.04.2016 23:16

Sabancı Holding Energy Group President Mehmet Göçmen has announced that they are planning an initial public offering (IPO) for Enerjisa for either the end of 2017 or beginning of 2018, adding that they expect it to be one of the biggest in Turkey's history. Göçmen also said that they care about this IPO plan since they care about the institutional development of energy markets in Turkey in terms of transparency and discipline.

Speaking at the Sabancı Center, Göçmen said that along with the developments near Turkey and the geopolitical risks arising from global issues, energy security is more important than ever. He also briefly touched on the long-term sustainability in the energy sector.

Parallel to this, Enerjisa Senior Executive Kıvanç Zaimler talked about Enerjisa's performance and future plans. Zaimler said Enerjisa has approximately 9 million customers and they want to add value to their production through the IPO. Evaluating the company's performance in 2015, Zaimler said they increased sales 8 percent while raising the earnings before interest, taxes, depreciation and amortization (EBITDA) 119 percent, adding that Enerjisa brought down the ratio of total debt to profit six-and-a-half fold compared to the previous year. He said the company has been successful recently and that they want to bring the financial success further into 2016.

Explaining that Enerjisa contributes 4 percent of the total energy production in Turkey, Zaimler said they have been managing a portfolio of energy sources, 65 percent of which consists of either local or renewable sources. He also said that in 2016 they a goal for the volume of Enerjisa's production to reach 3,700 megawatts, adding that total investments in production at the end of this year will be $5.5 billion. He said that b further focusing on domestic and renewable resources they will be able to evaluate growth opportunities for the long term.

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