Q1 2025 Aygaz AS Earnings Call Transcript
Key Points
- Aygaz AS (IST:AYGAZ) maintained its leadership in the Turkish LPG market with a total retail market share of 25.5% in the first quarter of 2025.
- The company achieved a significant increase in wholesale and international LPG sales, up by 18% year on year.
- Aygaz AS (IST:AYGAZ) reported a consolidated net cash position increase from TRY 1.8 billion at the end of December to TRY 3.8 billion by the end of March.
- The joint venture in Bangladesh, United Tigers LPG, expanded its operations, reaching a total sales volume of 41,000 tons and contributing positively to Aygaz's financial results.
- Despite a challenging market, Aygaz AS (IST:AYGAZ) managed to achieve 1 million tons of domestic retail sales in 2024, setting a critical threshold for 2025.
- Total Turkish LPG consumption contracted by 6% year on year, impacting Aygaz AS (IST:AYGAZ)'s sales volumes.
- The company's EBITDA from its core LPG and natural gas business line decreased by 15% compared to the previous year.
- Aygaz AS (IST:AYGAZ) experienced an inventory loss of TRY 62 million in the first quarter of 2025, compared to an inventory gain in the previous year.
- Net profit for the first quarter of 2025 was TRY 107 million, which is 50% lower than the previous year.
- The decline in retail sales volumes was a significant factor in the lower profitability for the first quarter of 2025 compared to the fourth quarter of 2024.
Ladies and gentlemen, thank you for standing by. I am GyLee, your chorus call operator. Welcome and thank you for joining the Aygaz conference call and live webcast to present and discuss the first quarter 2025 financial results.
All participants will be in listen-only mode, and the conference is being recorded. The presentation will be followed by a question and answer session. Should anyone need assistance during the conference call, you may signal an operator by pressing and 0 on your telephone. At this time, I would like to turn the conference over to Mr. Gökhan Dizemen, CFO. Mr. Gökhan, I mean you may now proceed.
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Thank you. Thank you for joining our earnings for the first quarter of 2025. With me today are Kozan Nabi Chief Corporate Finance and Investor Relations manager, Duygu Yener, our Financial Reporting and Control Manager of Aygaz and Dalya Hasanca Investor Relations Leed of Aygaz.
Before we begin, let me remind you that our presentation and comments in the Q&A session
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