Global Investment Holdings’ CNG subsidiary applied to the Capital Markets Board of Turkey to get approval to make the necessary amendments on its Articles of Association for the initial public offering…

Naturelgaz, a 95.5% subsidiary of Global Investment Holdings and Turkey’s & Europe’s leading CNG (Compressed Natural Gas) supplier and distributor in terms of mother station infrastructure and bulk sales volume, has made an application to the Capital Markets Board of Turkey on January 20, 2020 to get approval to amend its Articles of Association in accordance with the capital markets legislation for the purpose of initial public offering of its shares.

Naturelgaz focuses on the sales and distribution of bulk CNG to industrial and commercial customers – such as factories, power generators, hotels, asphalt plants – in addition to cities (households) not connected to a natural gas pipeline due to economic or geographic constraints. Naturelgaz CNG infrastructure consists of 12 CNG plants and stations, 4 co-operation plants, 50,200 CNG cylinders and 47 industrial scale compressors. All facilities and equipment established and used by the company conform to international standards and regulations.

2018 was a turnaround year for Naturelgaz, in which the company has achieved outstanding progress in strengthening its financial position and operational capability. In 2018, Naturelgaz distributed overall 138 mn Sm3 of CNG, capturing a 16.9% share of the total non-piped natural gas market in Turkey. The company recorded a 25.2% market share through the hinterlands covered by its filling plants.

On the financial front, revenues increased by 32.0%, reaching 242.1mn TL, while operating EBITDA almost quadrupled, reaching 40.0mn TL and translating into c.11pp EBITDA margin expansion in 2018. On top of 2018 solid financial performance, as the best performer in 9M 2019 among all business segments, Naturelgaz’ revenues nearly doubled, reaching 325.2mn TL. Meanwhile, Naturelgaz’ operating EBITDA reached 82.3mn TL in the period, nearly tripling and translating into c.9pp EBITDA margin expansion.

As being Turkey’s and Europe’s leading CNG distributor and best in class operation capability, Naturelgaz has a growth plan in four main areas; 

– In Turkey, there are many zones that natural gas has not reached either because of geographical obstacles or poor economics. Supplying CNG into pipeline of remote towns in Turkey, in cooperation with local gas distributors, where there is no natural gas distribution infrastructure

– Carrying the experience and investments to the surrounding markets such as Africa where the is underdeveloped power infrastructure and strong growth

– Developing Auto CNG projects in cooperation with OEM producers and conversion companies

– To increase the number of projects by supplying integrated CNG solutions to well operators

SHARE: