Tekfen Holding

Annual Report 2021

Tekfen Holding

Annual Report 2021

www.tekfen.com.tr

Trade Registration Number: 111233

2021 TEKFEN 1

4

10

18

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Contents

Profile and Basic Indicators

Management

Message from the Chairman

Message from the President

Engineering and Contracting Group

Tekfen Construction

Tekfen Engineering

Tekfen Manufacturing

Chemical Industry Group

Fertiliser Operations

Mineral Fertilisers

Specialty Fertilisers

Organic & Organo-mineral Fertilisers

Sustainable and Innovative Agriculture Practices

Agricultural Production Development and Digital Agricultural Practices R&D and Innovation

Agricultural Production Group

Fruit Cultivation and Exportation

Techno-Agriculture and Crop Seed Operations

Contract Farming

Seedlings

Sustainable Agricultural Production Activities

R&D and Innovation

Sustainable Business Model and Environment

Zero Waste and Circular Economy

Services Group

Terminal Operations

Free Zone Operations

Tekfen Services

Tekfen Insurance

Investment Group

Tekfen Ventures

Sustainibility Practices

People

Environment

Occupational Health and Safety

Digital Transformation

Social Responsibility

Corporate Governance

Board of Directors Members and Senior Management Tekfen Group Companies

Statement of Compliance with Corporate Governance Principles Board of Directors

Committees

Sustainability Principles Compliance Framework Internal Audit

Legal Disclosures

Tekfen Holding A.Ş. Dividend Policy

Board of Directors' Annual Report Proposal for Profit Distribution

2 TEKFEN 2021

2021 TEKFEN 3

Profile and Basic Indicators

With foundations laid in 1956 by three civil engineers - Feyyaz Berker, Nihat Gökyiğit, and Necati Akçağlılar - Tekfen Holding today conducts its operations through thirty-nine companies and thirteen subsidiaries, each of which is a leading name in its respective business line, and that are active in five main areas: Engineering and Contracting, Chemical Industry, Agricultural Production, Services and Investment. Tekfen Holding is the umbrella company for all of the firms and subsidiaries in the Tekfen Group. Its shares are traded on the Borsa İstanbul and are quoted in that exchange's BIST 30 and Sustainability Index. The Tekfen Group's founding partners have served as the originators, benefactors and directors of many environmental, educational, and social NGOs. Those roles kept people, social welfare, and environmental wellbeing at the focal point of the Tekfen Group's business culture and charitable activities since the very outset.

4 TEKFEN 2021

2021 TEKFEN 5

Profile and Basic Indicators

Revenues (Consolidated million TRY)

2020

Engineering and

Contracting

2021

Chemical Industry

Agricultural

Production

Services

Investment

EBITDA (Consolidated million TRY)

16,223

11,730

8,197

7,108

7,200

3,888

201

184

486

562

48

79

Total

Engineering

Chemical

Agricultural

Services

Investment

and

Industry

Production

Contracting

Breakdown of Revenues (%)

1,802

728

736

459

176

169

(28)

(48)

(81)

(122)

(344)

(1,073)

Total

Engineering

Chemical

Agricultural

Services

Investment

and

Industry

Production

Contracting

Net Profit / Loss for the Year (Consolidated million TRY)

4.1%

0.4%

1.7%

33.1%

60.6%

2020

1.1%3.5%0.5%

44.4%

50.5%

2021

1,665

829

824

451

132

133

83

(67)

(66)

(113)

(667)

(1,679)

Total

Engineering

Chemical

Agricultural

Services

Investment

and

Industry

Production

Contracting

6 TEKFEN 2021

2021 TEKFEN 7

Profile and Basic Indicators

2020

Investment (Consolidated million TRY)

2021

568

556

244

241

170

180

185

43

18

31

9

2

Total

Engineering

Chemical

Agricultural

Services

Investment

and

Industry

Production

Contracting

Total Assets (Consolidated million TRY)

21,914

13,917

9,253

6,553

7,382

4,298

3,589

2,826

384

380

565

601

Total

Engineering

Chemical

Agricultural

Services

Investment

and

Industry

Production

Contracting

Employees

2020

18,444

2021

16,543

8 TEKFEN 2021

SUMMARY BALANCE SHEET (thousand TRY)

31 December 2021

31 December 2020

Current Assets

15,407,337

9,013,197

Non-Current Assets

6,506,236

4,903,836

Total Assets

21,913,573

13,917,033

Current Liabilities

13,073,283

7,474,512

Non-Current Liabilities

1,114,830

631,621

Equity Attributable to Owners of the Parent

7,595,637

5,730,139

Non-controlling Interest

129,823

80,761

Total Shareholders' Equity and Liabilities

21,913,573

13,917,033

SUMMARY INCOME STATEMENT (thousand TRY)

1 January - 31 December 2021

1 January - 31 December 2020

Revenue

16,222,968

11,729,779

Gross Profit

1,280,065

913,997

Operating Profit

(478,221)

1,012

Profit Before Taxation

1,129,044

229,474

Net Profit (Loss)

829,390

(67,398)

IMPORTANT RATIOS

31 December 2021

31 December 2020

Liquidity

Current Ratio

1.18

1.21

Liability and Indebtedness

Total Liabilities / Equity Attributable to Owners of the Parent

1.87

1.41

Current Liabilities / Total Liabilities

0.92

0.92

1 January - 31 December 2021

1 January - 31 December 2020

Profitability

Gross Profit Margin

7.89%

7.79%

EBITDA Margin

4.49%

3.91%

Net Profit Margin

5.11%

-0.57%

Net Cash Calculation

(Thousand TRY)

Cash and Cash Equivalents

5,064,108

Financial Investments

51,845

Short-term Borrowings

(3,088,485)

Short-term Portion of Long-term Borrowings

(88,282)

Long-term Borrowings

(324,786)

Effect of TFRS 16 Adjustment

62,383

Effect of TFRS 9 Adjustment

1,263

Net Cash as of 31 December 2021

1,678,046

2021 TEKFEN 9

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Disclaimer

Tekfen Holding AS published this content on 26 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2022 13:08:05 UTC.