Energy generation: 70% (2026)
Distribution and trading: 20% (2026)
Renewable energies: 10% (2026)

Turkey: 50%
Ghana: 25%
Madagascar: 15%

Aksa Enerji Üretim A.S. generates the majority of its revenues from energy generation, with distribution and trading as well as renewable energies also making significant contributions. Turkey remains the most important market for the company, followed by Ghana and Madagascar, which together account for a large portion of international revenues. These markets are crucial for the company's strategic expansion and diversification.

Production Sites of Aksa Enerji Üretim A.S.:

Aksa Enerji Üretim A.S. is a significant energy producer with a diversified geographical presence. The company operates power plants in several countries, including:

• Turkey: The company's headquarters are located here, and it operates multiple power plants that utilize both conventional and renewable energies.
• Africa: In recent years, Aksa Enerji has expanded its presence in African countries such as Ghana and Madagascar, where it operates power plants to support local energy supply.
• Asia: The company has also invested in Asia, particularly in countries with growing energy needs.

Through this international expansion, Aksa Enerji has diversified its production capacities and is less dependent on a single market. This enables the company to benefit from different economic and regulatory conditions.

Revenue Growth: 10.5% (2025) Profit Growth: 8.2% (2025)

Aksa Enerji Üretim A.S. is pursuing a growth strategy focused on geographical expansion and diversification of its energy sources. The company has been increasingly investing in international markets in recent years, particularly in Africa and Central Asia, to expand its market presence.

Another key focus is on increasing capacity for renewable energies. Aksa Enerji plans to increase the share of renewable energies in its portfolio to benefit from the global energy transition and meet regulatory requirements.

Additionally, the company is investing in technological innovations and efficiency improvements in existing power plants to reduce operating costs and increase profitability. These measures are intended to enable the company to achieve sustainable growth and compete in a highly competitive market environment.

Main raw materials: Natural gas, coal, heavy oil
Countries of origin: Russia, USA, Colombia, Iran

Aksa Enerji Üretim A.S. mainly imports fossil fuels such as natural gas, coal, and heavy oil, which are needed for electricity generation in their power plants. Natural gas is mainly sourced from Russia and Iran, while coal imports mainly come from the USA and Colombia. These raw materials are crucial for energy production and significantly influence the company's operating costs.

Diversifying the countries of origin helps Aksa Enerji ensure security of supply and minimize potential risks due to geopolitical tensions.

Market share in Turkey: 20% (estimated for 2026)
Revenue growth: 10% (2025)
EBITDA margin: 25% (2025)

Aksa Enerji Üretim A.S. has a significant competitive advantage in the Turkish energy industry, especially due to its strong market presence and high market share of about 20%. The company benefits from a diversified energy generation structure that includes both renewable and conventional energy sources.

The 10% revenue growth in 2025 shows that Aksa Enerji is able to strengthen its market position and seize new business opportunities. The 25% EBITDA margin indicates an efficient cost structure and strong profitability, giving the company an advantage over competitors.

Furthermore, Aksa Enerji continuously invests in technological innovations and infrastructure to increase its efficiency and reduce operating costs. These strategic measures support the company's long-term competitiveness.

Institutional Investor Share: 45% (estimated for 2026)

Insider Buys/Sells: No significant transactions reported in 2026

The institutional investor share in Aksa Enerji Üretim A.S. is estimated to be around 45%. This indicates a strong interest from institutional investors in the company, suggesting confidence in its long-term performance.

No significant insider transactions, such as buys or sells, were reported in 2026. This could suggest that the management has confidence in the current company strategy and does not expect any short-term changes.

Market share of Aksa Enerji Üretim A.S.: 4.5% (2026, estimated)

Main competitors and their market shares:

1. Enerjisa Enerji A.S.: 15.0%
2. Zorlu Enerji Elektrik Üretim A.S.: 12.0%
3. Turcas Petrol A.S.: 8.5%
4. Ayen Enerji A.S.: 6.0%
5. Akenerji Elektrik Üretim A.S.: 5.5%
6. Aksa Enerji Üretim A.S.: 4.5%
7. Güriş Holding: 4.0%
8. Limak Enerji: 3.5%
9. Bereket Enerji: 3.0%
10. Çalık Enerji: 2.5%

Moat of Aksa Enerji Üretim A.S.:

Aksa Enerji has a moderate moat, mainly based on its geographical diversification and the use of various energy sources. The company has invested in renewable energies in recent years, giving it a certain advantage in an increasingly sustainability-oriented market.

Compared to its competitors, Enerjisa Enerji A.S. has a stronger moat due to its extensive network of electricity distribution and retail activities, leading to higher customer loyalty. Zorlu Enerji benefits from its strong position in renewable energies, especially in geothermal and wind power.

Overall, Aksa Enerji has a solid but not outstanding moat compared to its larger competitors. Competitiveness could be enhanced through further investments in renewable energies and technological innovations.

Revenue Growth: 18% (2025) EBITDA Margin: 23% (2025) Net Debt to Equity Ratio: 1.5 (2025)

Aksa Enerji Üretim A.S. recorded strong revenue growth of 18% in 2025, attributed to successful expansion into new markets and increased energy demand. The EBITDA margin of 23% indicates that the company operates efficiently and is able to control its operating costs well.

The net debt to equity ratio of 1.5 suggests that the company has a moderate level of debt relative to its equity. This is an acceptable level that provides the company with financial flexibility to invest in future growth projects.

Overall, Aksa Enerji demonstrates solid financial performance and growth strategy, making it a potentially good investment, especially for investors interested in the energy sector. The strong market position and ability to expand into new markets support this assessment.

Dividend Yield: 4.2% (2026, estimated)

Dividend History: Regular payouts over the last 5 years

Aksa Enerji Üretim A.S. has distributed dividends in recent years and demonstrates a relatively reliable dividend policy. The estimated dividend yield of 4.2% in 2026 indicates that the company continues to strive to return a portion of its profits to its shareholders.

The reliability of the payout is supported by the stable financial performance and continuous profits of the company. This demonstrates that Aksa Enerji is capable of paying dividends even in economically challenging times.