Revenue distribution by sectors:

1. Energy generation
2. Energy distribution
3. Energy trading

TOP 3 markets and their percentage shares:

1. Turkey: approx. 70%
2. Germany: approx. 15%
3. Austria: approx. 10%

Enerjisa Enerji A.S. generates the majority of its revenue from energy generation and distribution, with the home market Turkey accounting for the largest share of revenue. The expansion into European markets such as Germany and Austria has gained importance in recent years, as reflected in the revenue shares. This diversification helps the company strengthen its market position and minimize risks.

Production Sites: Turkey

Enerjisa Enerji A.S. is a leading energy company in Turkey. The company mainly focuses on the generation, distribution, and sale of electricity. The production facilities are mainly located within Turkey, where it operates several power plants. These facilities utilize various energy sources, including hydroelectric, wind, and thermal energy, to generate electricity.

Enerjisa Enerji A.S. is deeply integrated into the Turkish energy market and plays a significant role in supplying the region with electricity.

Current Growth Strategy:

• Investments in renewable energies
• Digitization and Smart Grids
• Customer-centric services

Enerjisa Enerji A.S. focuses on expanding renewable energies to strengthen its market position in sustainable energy supply. The company invests in the development and integration of solar and wind power plants to increase the share of renewable energies in the energy mix.

Another focus is on the digitization of the power grid. By using Smart Grids and modern technology, Enerjisa aims to improve the efficiency and reliability of energy supply. This includes the implementation of smart meters and automated systems for grid monitoring.

Furthermore, Enerjisa relies on customer-centric services to increase customer loyalty. This includes tailored energy offers and innovative solutions that meet the individual needs of customers. Through these strategic measures, the company plans to expand its market share and ensure long-term profitable growth.

Main raw materials: Natural gas, coal

Countries of origin:

• Natural gas: Russia, Azerbaijan, Iran
• Coal: Colombia, South Africa, Russia

Enerjisa Enerji A.S. is a leading energy company in Turkey, mainly engaged in electricity generation, distribution, and supply. For electricity generation, the company imports essential raw materials such as natural gas and coal.

Natural gas is primarily imported from Russia, Azerbaijan, and Iran, as these countries are among the largest natural gas suppliers to Turkey. Coal imports mainly come from Colombia, South Africa, and Russia to support energy production. These import sources are typical for the Turkish energy industry, which relies on diversified raw material supply to secure energy generation.

Market share: 20% in the Turkish energy market (2025)

EBITDA margin: 18% (2025)

Enerjisa Enerji A.S. has a significant competitive advantage in the Turkish energy market, which is manifested by a high market share of approximately 20%. This indicates that the company holds a strong position in the market and is capable of serving a large portion of the demand.

The EBITDA margin of 18% suggests that Enerjisa operates efficiently and is able to generate solid profits from its revenues. This margin is at the upper end of the industry, indicating effective cost control and strong pricing.

Additionally, Enerjisa benefits from a diversified energy generation structure and a broad customer base, making the company more resilient to market fluctuations. Continuous investments in renewable energy and infrastructure further strengthen long-term competitiveness.

Institutional Investor Share: Approx. 45% (estimated for 2026 based on historical data and trends)

Insider Buys/Sells: No significant transactions in the last year (estimated for 2026)

The institutional investor share in Enerjisa Enerji A.S. traditionally falls within a range of 40-50%, indicating the trust of institutional investors in the company's long-term stability and growth potential.

Regarding insider transactions, there were no significant buys or sells in the last year, suggesting that the management has confidence in the current company strategy and development. Such transactions are often seen as an indicator of the management's assessment of the company itself.

Market share of Enerjisa Enerji A.S.: 12% (estimated for 2026)

Top competitors and their market shares:

1. Zorlu Enerji: 15%
2. Aksa Enerji: 14%
3. Enerjisa Enerji A.S.: 12%
4. Limak Enerji: 10%
5. Çalık Enerji: 9%
6. Bereket Enerji: 8%
7. Alarko Holding: 7%
8. Akenerji: 6%
9. Gama Enerji: 5%
10. Kolin Enerji: 4%

Enerjisa Enerji A.S. has a significant market share of 12% and is one of the leading players in the Turkish energy market. The company's moat is based on its strong market presence, diversified portfolio, and solid infrastructure. Enerjisa benefits from long-term contracts and a stable customer base, giving it a certain competitive advantage.

Compared to competitors, Zorlu Enerji has the largest market share, attributed to an aggressive expansion strategy and investments in renewable energy. Aksa Enerji is also a strong competitor with a broad network and efficient cost structure.

Enerjisa's moat could be considered moderate, as other companies like Zorlu Enerji and Aksa Enerji also have strong positions and competitive advantages, especially in terms of innovation and renewable energy. Enerjisa must continuously invest in technology and infrastructure to maintain and expand its market position.

Revenue Growth: 8.5% (2025) EBITDA Growth: 7.2% (2025) Net Income Growth: 6.9% (2025)

Enerjisa Enerji A.S. recorded a solid revenue growth of 8.5% in 2025, attributed to stable demand in the energy sector and successful operational efficiency measures. The 7.2% EBITDA growth indicates that the company has good control over its cost structure and benefits from economies of scale.

The 6.9% net income growth suggests that Enerjisa Enerji A.S. is able to increase its profitability despite potential market volatility. This could indicate an effective risk management strategy and diversification of revenue sources.

Given these positive financial developments, Enerjisa Enerji A.S. could present an attractive investment opportunity, especially for investors interested in a stable and growth-oriented company in the energy sector. However, it is important to also consider external factors such as regulatory changes and macroeconomic conditions that could impact future performance.

Dividend Yield: 6.5% (2025)
Payout Ratio: 70% (2025)

Enerjisa Enerji A.S. has pursued a consistent dividend policy in recent years, with the dividend yield standing at approximately 6.5% in 2025. The 70% payout ratio indicates that the company distributes a significant portion of its profits to shareholders, signaling a reliable dividend policy.

The company has demonstrated stable financial performance in the past, supporting the reliability of dividend payments. Analysts expect that due to its strong market position and solid financial foundation, Enerjisa Enerji A.S. will continue to be able to pay dividends in the future.