TURKEY CONGLOMERATES - Alarko Holding: Meeting notes
We met Alarko Holding’s (ALARK TI, Not Rated) management today to discuss their outlook for the company.
As the largest revenue generator, Alarko Holding is well positioned in the power generation and distribution segments. With regard to power generation, the company has 1,539MW of total installed capacity, consisting of two hydro (86.6MW), one solar (51MW), one natural gas (82MW) and one imported coal-fired power plant (1,320MW) via Alarko Holding’s 50% subsidiary Cenal.
As the cash cow of the group, the electricity distribution (Meram Elektrik) segment contributed 43% to the combined EBITDA and 57% to combined revenues in 9M19.
Alsim, Alarko Holding’s full affiliate contracting arm, specializes in the construction of airports, rail systems, industrial facilities, business centres, hotels and hospitals, in addition to infrastructure works. Alsim had an order backlog of USD1.2b as of 9M19-end.
Alarko Holding Anonim Sirketi. Alarko Holding AS is a Turkey-based holding company. Alarko Group companies operate in contracting, industry and trade, energy, tourism, seafood, real estate investments and property development sectors. The Contracting Group companies operate as general contractors, and are engaged in the construction of commercial buildings and industrial plants. The Industry and Trade Group produces and markets heating, ventilation, air conditioning units and pumps, as well as providing after-sale services. The Energy Group produces and distributes electric power and natural gas through its power plants across Turkey. The Tourism Division operates and manages hotels and holiday resorts. Its Seafood Division operates through Alfarm Alarko Leroy Su Urunleri San. ve Tic. AS, established for breeding and processing various types of fish, particularly salmon. The Property Development Group is involved in the development, design and construction of recreational facilities and residences.
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