Turkish Petroleum Refineries Corporation (TUPRAS)
THE CONSOLIDATED INCOME STATEMENT
In accordance with Capital Market Board Regulations
Unadited Income Statement | Unadited Income Statement | |||||
(1000 TL) | (1000 USD) | |||||
01.01. 2016 - 31.03.2016 | 01.01.2015- 31.03.2015 | % change | 01.01. 2016 - 31.03.2016 | 01.01.2015- 31.03.2015 | % change | |
Revenue | 6.191.416 | 6.948.259 | (11) | 2.101.349 | 2.829.441 | (26) |
Cost of sales (-) | (5.700.714) | (6.449.565) | (12) | (1.934.807) | (2.626.365) | (26) |
GROSS OPERATING PROFIT | 490.702 | 498.694 | -2 | 166.543 | 203.076 | -18 |
General administrative expenses (-) | (177.669) | (129.491) | 37 | (60.300) | (52.731) | 14 |
Marketing, selling & distribution expenses (-) | (41.810) | (35.011) | 19 | (14.190) | (14.257) | (0) |
Research & development expenses (-) | (7.183) | (7.412) | (3) | (2.438) | (3.018) | (19) |
Other operating income | 99.194 | 21.488 | 362 | 33.666 | 8.750 | 285 |
Other operating expenses (-) | (89.417) | (244.479) | (63) | (30.348) | (99.556) | (70) |
OPERATING PROFIT/ (LOSS) | 273.817 | 103.789 | 164 | 92.933 | 42.265 | 120 |
Income/ (expense) from investment activities | (201) | 210 | (196) | (68) | 86 | (180) |
Income from investments accounted by equity method | 14.733 | (22.746) | (165) | 5.000 | (9.263) | (154) |
OPERATING PROFIT/ (LOSS) BEFORE FINANCIAL INCOME | 288.349 | 81.253 | 255 | 97.865 | 33.088 | 196 |
Financial income | 181.555 | 443.718 | (59) | 61.619 | 180.689 | (66) |
Financial expenses (-) | (374.003) | (554.294) | (33) | (126.936) | (225.717) | (44) |
PROFIT BEFORE TAXATION | 95.901 | (29.323) | (427) | 32.549 | (11.941) | -373 |
Income Tax expense | (12.787) | 307.620 | (104) | (4.340) | 125.268 | (103) |
-Tax expense for the period | (3.545) | (1.654) | 114 | (1.203) | (674) | 79 |
-Deferred tax income/(expense) | (9.242) | 309.274 | (103) | (3.137) | 125.941 | (102) |
PROFIT FOR THE PERIOD | 83.114 | 278.297 | (70) | 28.209 | 113.327 | -75 |
Other comprehensive income | ||||||
Items to be reclassified to profit or loss | 82.503 | 256.874 | (68) | 28.001 | 104.603 | (73) |
Changes in currency translation differences | (483) | 1.940 | (125) | (164) | 790 | (121) |
Gains/losses on hedging | 107.703 | 222.139 | (52) | 36.554 | 90.459 | (60) |
Tax effect of other comprehensive income / (loss) to be recl | (24.717) | 32.795 | (175) | (8.389) | 13.355 | (163) |
- Deferred Tax income/(expense) | (24.717) | 32.795 | (175) | (8.389) | 13.355 | (163) |
Other comprehensive income/(expense) after tax | 82.503 | 256.874 | (68) | 28.001 | 104.603 | (73) |
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD | 165.617 | 535.171 | (69) | 56.210 | 217.930 | (74) |
Distribution of Profit for the Period | ||||||
Non-controlling interesests | 4.202 | 3.137 | 34 | 1.426 | 1.277 | 12 |
Attributable to equity holders of the Company | 78.912 | 275.160 | (71) | 26.783 | 112.050 | (76) |
Distribution of Total Comprehensive Income for the Period | - | |||||
Non-controlling interesest | 4.007 | 3.137 | 28 | 1.360 | 1.277 | 6 |
Attributable to equity holders of the Company | 161.610 | 87.756 | 84 | 54.850 | 35.736 | 53 |
Earnings per share | 0,32 | 1,10 | (71) | 0,11 | 0,45 | (76) |
EBITDA CMB : | 01.01. 2016 - 31.03.2016 | 01.01.2015- 31.03.2015 | % change |
OPERATING PROFIT/ (LOSS) | 273.817 | 103.789 | 163,8 |
Total Depreciation | 134.281 | 73.261 | 83,3 |
EBITDA, (1000 TRY) | 408.098 | 177.050 | 130 |
EBITDA, (1000 USD) | 138.507 | 72.098 | 92 |
EBITDA Alternative Method : | 01.01. 2016 - 31.03.2016 | 01.01.2015- 31.03.2015 | % change |
PROFIT BEFORE TAXATION | 95.901 | -29.323 | -427,1 |
Credit finance gains | -29.354 | -15.705 | 86,9 |
Credit finance charges | 1.533 | 1.819 | -15,7 |
Financial income | -181.555 | -443.718 | -59,1 |
Financial expenses | 374.003 | 554.294 | -32,5 |
Foreign exchange gains on trade receivables,net | 1.245 | -3.550 | -135,1 |
Foreign exchange gains on trade payables,net | -60.989 | 230.232 | -126,5 |
Income from investment activities | 201 | -210 | -195,7 |
Total Depreciation | 134.281 | 73.261 | 83,3 |
EBITDA, (1000 TRY) | 335.266 | 367.100 | -9 |
EBITDA, (1000 USD) | 113.788 | 149.489 | -24 |
CB Dollar Rate, USD/TL 2,9464 2,4557
Turkish Petroleum Refineries Corporation (TUPRAS)CONSOLIDATED BALANCE SHEET
In accordance with Capital Market Board Regulations
Unaudited Balance Sheet (1000 TL) | Audited Balance Sheet (1000 TL) | Unaudited Balance Sheet (1000 USD) | Audited Balance Sheet (1000 USD) | |||
31-Mar-2016 | 31-Dec-2015 | % change | 31-Mar-16 | 31-Dec-2015 | % change | |
Current assets | 9.407.864 | 8.674.981 | 8 | 3.320.344 | 2.983.554 | 11 |
Cash and cash equivalents | 4.638.043 | 3.027.546 | 53 | 1.636.918 | 1.041.253 | 57 |
Trade receivables (net) | 1.954.526 | 2.539.832 | (23) | 689.816 | 873.515 | (21) |
Due from related parties | 583.385 | 658.673 | (11) | 205.896 | 226.535 | (9) |
Trade receivables from unrelated parties | 1.371.141 | 1.881.159 | (27) | 483.921 | 646.980 | (25) |
Other receivables | 28.608 | 25.815 | 11 | 10.097 | 8.878 | 14 |
Due from unrelated parties | 28.608 | 25.815 | 11 | 10.097 | 8.878 | 14 |
Derivatives | 13.666 | 18.845 | (27) | 4.823 | 6.481 | (26) |
Inventories | 2.225.317 | 2.102.161 | 6 | 785.388 | 722.988 | 9 |
Prepaid expenses | 128.553 | 132.093 | (3) | 45.371 | 45.430 | (0) |
Assets related to current period tax | 66.261 | 4.317 | 1.435 | 23.386 | 1.485 | 1.475 |
Other current assets | 352.890 | 824.372 | (57) | 124.546 | 283.523 | (56) |
Non-current assets | 16.749.872 | 16.795.135 | (0) | 5.911.580 | 5.776.288 | 2 |
Financial investments | 4.000 | 4.000 | - | 1.412 | 1.376 | 3 |
Investment accounted by equity method | 734.467 | 762.217 | (4) | 259.218 | 262.146 | (1) |
Investment property | 4.621 | 4.621 | - | 1.631 | 1.589 | 3 |
Property, plant and equipment | 11.490.509 | 11.479.744 | 0 | 4.055.378 | 3.948.185 | 3 |
Intangible assets(net) | 57.479 | 59.409 | (3) | 20.286 | 20.432 | (1) |
Other intangible assets | 57.479 | 59.409 | (3) | 20.286 | 20.432 | (1) |
Derivatives | 202.375 | 250.027 | 43 | 71.425 | 85.991 | (17) |
Prepaid expenses | 257.250 | 179.695 | (4) | 90.792 | 61.802 | 47 |
Deferred tax assets | 3.080.304 | 3.202.503 | 8 | 1.087.141 | 1.101.425 | (1) |
Other non-current assets | 918.867 | 852.919 | 3 | 324.298 | 293.341 | 11 |
TOTAL ASSETS | 26.157.736 | 25.470.116 | 3 | 9.231.925 | 8.759.842 | 5 |
Current Liabilities | 9.096.401 | 8.828.240 | 3 | 3.210.419 | 3.036.264 | 6 |
Short-term financial liabilities (net | 66.611 | 94.023 | (29) | 23.509 | 32.337 | (27) |
Current portion of long-term financial liabilities(net) | 2.702.803 | 1.777.358 | 52 | 953.908 | 611.280 | 56 |
Trade payables (net) | 3.441.075 | 3.878.036 | (11) | 1.214.468 | 1.333.758 | (9) |
Due to related parties | 42.087 | 80.273 | (48) | 14.854 | 27.608 | (46) |
Other trade payables | 3.398.988 | 3.797.763 | (11) | 1.199.615 | 1.306.150 | (8) |
Payables related to employee benefits | 45.149 | 70.129 | (36) | 15.935 | 24.119 | (34) |
Other payables | 9.329 | 14.288 | (35) | 3.293 | 4.914 | (33) |
Other payables to unrelated parties | 9.329 | 14.288 | (35) | 3.293 | 4.914 | (33) |
Derivatives | 111.783 | 40.379 | 177 | 39.452 | 13.887 | 184 |
Deferred income | 17.510 | 23.111 | (24) | 6.180 | 7.948 | (22) |
Current period corporate tax provision | 3.545 | 133.346 | (97) | 1.251 | 45.861 | (97) |
Short-term provisions | 98.356 | 70.604 | 39 | 34.713 | 24.283 | 43 |
Employee benefits | 22.727 | 7.952 | 186 | 8.021 | 2.735 | 193 |
Other provisions | 75.629 | 62.652 | 21 | 26.692 | 21.548 | 24 |
Other current liabilities | 2.600.240 | 2.726.966 | (5) | 917.710 | 937.875 | (2) |
Non-current Liabilities | 8.527.269 | 8.273.427 | 3 | 2.988.291 | 2.836.079 | 5 |
Long-term financial liabilities(net) | 8.265.610 | 8.048.039 | 3 | 2.917.205 | 2.767.932 | 5 |
Long-term provisions | 197.469 | 193.973 | 2 | 69.693 | 66.712 | 4 |
Employee benefits | 197.469 | 193.973 | 2 | 69.693 | 66.712 | 4 |
Deferred incomes | 2.390 | 2.560 | (7) | 844 | 880 | (4) |
Other non-current liabilities | 60.246 | 27.244 | 121 | 21.263 | 9.370 | 127 |
Derivatives | 1.554 | 1.611 | (4) | 548 | 554 | (1) |
EQUITY | 8.534.066 | 8.368.449 | 2 | 3.033.215 | 2.887.499 | 5 |
Share capital | 250.419 | 250.419 | - | 88.381 | 86.126 | 3 |
Adjustment to share capital | 1.344.243 | 1.344.243 | - | 474.428 | 462.320 | 3 |
Share premium | 172 | 172 | - | 61 | 59 | 3 |
Other comprehensive reatined gain/loss not classified on profit and loss | (3.622) | (3.622) | - | (1.278) | (1.246) | 3 |
Actuarial gain/(loss) arising from defined benefit plans | (3.622) | (3.622) | - | (1.278) | (1.246) | 3 |
Other comprehensive reatained gain/loss classified on profit and loss | (327.933) | (410.631) | (20) | (93.407) | (192.832) | (52) |
Pre-protected gain/(loss) | (427.267) | (510.448) | (16) | (150.797) | (175.556) | (14) |
Currency translation differences | 17.073 | 17.556 | (3) | 28.357 | (45.567) | (162) |
Financial assets fair value reserve | 82.261 | 82.261 | - | 29.033 | 28.292 | 3 |
Restricted reserves | 163.401 | 163.401 | - | 57.670 | 56.198 | 3 |
Retained earnings | 6.961.127 | 4.410.959 | 58 | 2.456.811 | 1.517.045 | 62 |
Net Income for the period | 78.912 | 2.550.168 | (97) | 26.783 | 938.045 | (97) |
Total equity attributable to equity holders of the parent | 8.466.719 | 8.305.109 | 2 | 3.009.446 | 2.865.715 | 5 |
Non-controlling interest | 67.347 | 63.340 | 6 | 23.769 | 21.784 | 9 |
TOTAL EQUITY AND LIABILITIES | 26.157.736 | 25.470.116 | 3 | 9.231.925 | 8.759.842 | 5 |
- -
Foreign Exchange Rate TL/USD 2,8334 2,9076
Turkish Petroleum Refineries Corporation (TUPRAS) THE CONSOLIDATED STATEMENTS OF CASH FLOWSIn accordance with Capital Market Board Regulations
Unaudited Cash Flow (1000 TL) | |||
01.01 2016 - 31.03.2016 | 01.01.2015- 31.03.2015 | % change | |
A. Cash flows from operating activities | 384.446 | (1.227.421) | (131) |
Profit/(loss) | 83.114 | 278.297 | (70) |
Adjustment for reconciliation of profit/(loss) | 174.909 | 67.941 | 157 |
- Adjustment for depreciation and amortisation expense | 134.281 | 73.261 | 83 |
- Adjustments for stock impairment | (86.691) | (84.743) | 2 |
- Adjustment for provisions | 33.004 | 22.833 | 45 |
- Adjustment for interest income and expense | 63.872 | 53.963 | 18 |
- Adjustment for fair value gain or loss | 64.814 | (178.714) | (136) |
- Adjustment for income of investments accounted by equity method | (14.733) | 22.746 | (165) |
- Adjustment for tax income/expenses | 12.787 | (307.620) | (104) |
- Adjustment for (gain) / loss on sales of property, plant and equipment | 201 | (210) | (196) |
- Adjustment for other items related with cash flow of investment or financial activities | (123.896) | 466.530 | (127) |
- Other adjustments for reconciliation of profit/(loss) | 91.270 | (105) | (87.024) |
Changes in working capital | 338.589 | (1.503.093) | (123) |
- Adjustment for increase/decrease in inventories | (36.465) | (365.741) | (90) |
- Adjustment for increase/decrease in trade receivables | 589.130 | (323.960) | (282) |
- Adjustment for increase/decrease in other receivables related with operations | 481.018 | (91.379) | (626) |
- Adjustment for increase/decrease in trade payables | (436.321) | (1.113.009) | (61) |
- Adjustment for increase/decrease in other payables related with operations | (258.773) | 390.996 | (166) |
Cash flows from operating activities | 596.612 | (1.156.855) | (152) |
- Tax payments/returns | (195.290) | (4.199) | 4.551 |
- Payments for penalty | - | (54.998) | |
- Other cash inflow/outflow | (16.876) | (11.369) | 48 |
B. Cash flows from investing activities | (179.594) | (248.711) | (28) |
Cash inflows from the sales of property, plant and equipment and intangible assets | 50 | 294 | (83) |
Cash outflows from the purchase of property, plant and equipment and intangible assets | (221.644) | (319.005) | (31) |
Dividends received | 42.000 | 70.000 | (40) |
C. Cash flows from financing activities | 1.364.134 | 699.237 | 95 |
Cash inflows from financial liabilities | 1.365.959 | 697.758 | 96 |
Dividends paid | - | (6.046) | |
Interest received | 53.533 | 36.096 | 48 |
Interest paid | (55.358) | (28.571) | 94 |
Net increase/decrease in cash and cash equivalents before the | |||
effect of foreign currency translation differences | 1.568.986 | (776.895) | (302) |
D. Impact of foreign currency translation differences on cash and cash equivalents | |||
Net increase/decrease in cash and cash equivalents | 1.568.986 | (776.895) | (302) |
E. Cash and cash equivalents at beginning of period | 2.199.168 | 3.211.406 | (32) |
Cash and cash equivalents at end of period | 3.768.154 | 2.434.511 | 55 |
Date | TÜPRAŞ | Med.Ural Ref. Margin | Difference | |
COMPLEX | SIMPLE | TÜPRAŞ/COMPLEX | ||
2006/1.Q | 3,73 | 4,81 | 2,67 | (1,08) |
2007/1.Q | 5,04 | 5,70 | 2,27 | (0,66) |
2008/1.Q | 7,83 | 3,70 | 0,73 | 4,13 |
2009/1.Q | 9,32 | 3,44 | 2,34 | 5,88 |
2010/1.Q | 9,17 | 3,50 | 1,84 | 5,67 |
2011/1.Q | 10,79 | 0,42 | (1,70) | 10,37 |
2012/1.Q | 8,41 | 2,97 | 2,23 | 5,45 |
2013/1.Q | 9,41 | 2,83 | 0,50 | 6,58 |
2014/1.Q | 9,74 | 0,44 | (0,92) | 9,30 |
2015/1.Q | 10,33 | 5,98 | 4,02 | 4,35 |
2016/1.Q | 8,23 | 3,84 | 0,89 | 4,39 |
2006/2.Q | 6,67 | 6,99 | 3,03 | (0,32) |
2007/2.Q | 9,17 | 7,22 | 2,75 | 1,96 |
2008/2.Q | 12,65 | 6,28 | 2,92 | 6,37 |
2009/2.Q | 9,30 | 1,40 | (0,21) | 7,89 |
2010/2.Q | 10,95 | 3,55 | 1,88 | 7,40 |
2011/2.Q | 10,90 | 1,65 | (1,38) | 9,25 |
2012/2.Q | 10,23 | 5,73 | 4,02 | 4,50 |
2013/2.Q | 9,62 | 2,52 | 1,08 | 7,10 |
2014/2.Q | 7,21 | 0,06 | (1,63) | 7,15 |
2015/2.Q | 12,63 | 4,88 | 2,50 | 7,75 |
2006/3.Q | 7,78 | 5,38 | 0,78 | 2,40 |
2007/3.Q | 6,97 | 3,75 | 0,84 | 3,21 |
2008/3.Q | 12,90 | 6,72 | 5,09 | 6,18 |
2009/3.Q | 8,88 | 1,59 | 0,45 | 7,29 |
2010/3.Q | 11,34 | 1,74 | 0,46 | 9,59 |
2011/3.Q | 14,36 | 1,20 | (0,57) | 13,15 |
2012/3.Q | 12,87 | 5,23 | 2,95 | 7,64 |
2013/3.Q | 10,48 | 1,05 | (0,56) | 9,44 |
2014/3.Q | 12,83 | 3,45 | 1,54 | 9,39 |
2015/3.Q | 13,32 | 4,92 | 2,01 | 8,40 |
2006/4.Q | 4,67 | 4,02 | 1,02 | 0,64 |
2007/4.Q | 7,47 | 4,63 | 1,92 | 2,84 |
2008/4.Q | 9,32 | 5,46 | 4,12 | 3,86 |
2009/4.Q | 9,40 | 1,34 | 0,56 | 8,06 |
2010/4.Q | 12,29 | 2,76 | 0,20 | 9,54 |
2011/4.Q | 11,76 | 1,41 | 0,87 | 10,35 |
2012/4.Q | 9,36 | 2,92 | 0,55 | 6,44 |
2013/4.Q | 8,86 | 0,30 | (1,21) | 8,56 |
2014/4.Q | 11,80 | 3,84 | 2,04 | 7,97 |
2015/4.Q | 10,90 | 3,54 | 0,73 | 7,36 |
2006/1st Half | 5,40 | 5,90 | 2,85 | (0,50) |
2007/1st Half | 7,22 | 6,46 | 2,51 | 0,77 |
2008/1st Half | 10,45 | 4,99 | 1,82 | 5,46 |
2009/1st Half | 9,31 | 2,42 | 1,07 | 6,89 |
2010/1st Half | 10,17 | 3,53 | 1,86 | 6,65 |
2011/1st Half | 10,85 | 1,04 | (1,54) | 9,81 |
2012/1st Half | 9,36 | 4,35 | 3,13 | 5,01 |
2013/1st Half | 9,53 | 2,68 | 0,79 | 6,86 |
2014/1st Half | 8,47 | 0,25 | (1,28) | 8,22 |
2015/1st Half | 11,60 | 5,43 | 3,26 | 6,17 |
2006/2nd Half | 6,25 | 4,70 | 0,90 | 1,55 |
2007/2nd Half | 7,21 | 4,19 | 1,38 | 3,02 |
2008/2nd Half | 11,35 | 6,09 | 4,60 | 5,26 |
2009/2nd Half | 9,31 | 2,42 | 1,07 | 6,89 |
2010/2nd Half | 11,81 | 2,25 | 0,33 | 9,56 |
2011/2nd Half | 13,13 | 1,31 | 0,15 | 11,83 |
2012/2nd Half | 11,15 | 4,08 | 1,75 | 7,08 |
2013/2nd Half | 9,70 | 0,67 | (0,88) | 9,03 |
2014/2nd Half | 12,32 | 3,64 | 1,79 | 8,67 |
2015/2nd Half | 12,10 | 4,23 | 1,37 | 7,87 |
2006/9 M | 6,28 | 5,73 | 2,16 | 0,56 |
2007/9 M | 7,14 | 5,56 | 1,95 | 1,58 |
2008/9 M | 11,33 | 5,57 | 2,91 | 5,76 |
2009/9 M | 9,15 | 2,15 | 0,86 | 7,01 |
2010/9 M | 10,62 | 2,93 | 1,39 | 7,68 |
2011/9 M | 12,09 | 1,09 | (1,22) | 11,00 |
2012/9 M | 10,66 | 4,64 | 3,07 | 6,01 |
2013/9 M | 9,88 | 2,13 | 0,34 | 7,75 |
2014/9 M | 10,09 | 1,31 | (0,34) | 8,77 |
2015/9 M | 12,23 | 5,26 | 2,84 | 6,97 |
2006 | 5,86 | 5,30 | 1,88 | 0,56 |
2007 | 7,22 | 5,32 | 1,95 | 1,90 |
2008 | 10,90 | 5,54 | 3,21 | 5,36 |
2009 | 9,21 | 1,95 | 0,79 | 7,27 |
2010 | 11,08 | 2,89 | 1,10 | 8,19 |
2011 | 12,01 | 1,17 | (0,70) | 10,84 |
2012 | 10,32 | 4,21 | 2,44 | 6,10 |
2013 | 9,62 | 1,67 | (0,05) | 7,95 |
2014 | 10,56 | 1,95 | 0,26 | 8,61 |
2015 | 11,87 | 4,83 | 2,32 | 7,04 |
TUPRAS - Turkiye Petrol Rafinerileri AS published this content on 05 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 06 May 2016 07:27:06 UTC.
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