Tekfen Holding
Annual Report 2022
www.tekfen.com.tr
Trade Registration Number: 111233
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Contents
Profile and Basic Indicators
Management
Message from the Chairman
Engineering and Contracting Group
Tekfen Construction
Tekfen Engineering
Tekfen Manufacturing
Chemical Industry Group
Fertiliser Operations
Mineral Fertilisers
Specialty Fertilisers
Organic & Organomineral Fertilisers
Sustainable and Innovative Agriculture Practices
Agricultural Production Development and Digital Agricultural Practices R&D and Innovation
Agricultural Production Group
Agricultural Production Activities
Fruit Cultivation and Exportation
Techno-Agriculture and Crop Seed Operations
Contract Farming
Sustainable Agricultural, R&D and Innovation
Services Group
Terminal Operations
Free Zone Operations
Real Estate Management
Tekfen Insurance
Investment Group
Tekfen Ventures
Sustainability Practices
People
Environment
Occupational Health and Safety
Digital Transformation
Social Responsibility
Corporate Governance
Board of Directors Members and Senior Management CVs 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 2022 | 2022 TEKFEN 3 |
Profile and Basic Indicators
Tekfen Group, established in 1956 by Feyyaz Berker, Nihat Gökyiğit, and Necati Akçağlılar, all of whom are civil engineers, has emerged as a significant pillar of the Turkish economy, contributing both value and employment. As a publicly listed company on the BIST 30 and Sustainability Indices, Tekfen Holding operates in 5 main areas: Engineering and Contracting, Chemical Industry, Agricultural Production, Services and Investment. With a portfolio of 38 companies and 13 subsidiaries, each of which is a leading name in its respective area, Tekfen Holding has become synonymous with trust and excellence in Turkey. The company's business culture centres around people, social benefit, and the environment, aligning with the principles of focused growth and sustainable profitability.
4 TEKFEN 2022 | 2022 TEKFEN 5 |
Profile and Basic Indicators
2021 | Engineering & | ||||||
Contracting | |||||||
2022 | Chemical Industry | ||||||
Agricultural | |||||||
Production | |||||||
Services |
Revenues (Consolidated million TRY) | Investment | |
30,668 | ||||||||
16,223 | 17,874 | |||||||
10,916 | ||||||||
8,197 | 7,200 | |||||||
184 | 265 | 562 | 1.501 | 79 | 112 | |||
Total | Engineering & | Chemical | Agricultural | Services | Investment | |||
Contracting | Industry | Production |
Breakdown of Revenues (%)
%1.1 | %0.5 | %0.9 | ||
%3.5 | %0.3 | %4.9 | ||
%44.4 | %50.5 | %58.3 | %35.6 |
2021 | 2022 |
EBITDA (Consolidated million TRY)
3,410 | ||||||
2,458 | ||||||
1,802 | ||||||
728 | 633 | |||||
350 | ||||||
31 | 169 | |||||
(48) | (122) | (62) | ||||
(1,073) | ||||||
Total | Engineering & | Chemical | Agricultural | Services | Investment | |
Contracting | Industry | Production |
Net Profit / Loss for the Year (Consolidated million TRY)
3,448 | |||||||
2,346 | |||||||
1,665 | |||||||
829 | 824 | 701 | |||||
363 | |||||||
54 | 133 | ||||||
(113) | (16) | ||||||
(1,679) | |||||||
Total | Engineering & | Chemical | Agricultural | Services | Investment | ||
Contracting | Industry | Production |
6 TEKFEN 2022 | 2022 TEKFEN 7 |
Profile and Basic Indicators
2021
Investment (Consolidated million TRY) | 2022 |
905 | ||||||||
556 | 528 | |||||||
170 | 193 | 180 | 185 | |||||
134 | ||||||||
18 | 23 | 2 | 27 | |||||
Total | Engineering & | Chemical | Agricultural | Services | Investment | |||
Contracting | Industry | Production |
Total Assets (Consolidated million TRY)
32,187 | ||||||||
21,914 | ||||||||
13,423 | 12,814 | |||||||
9,253 | ||||||||
7,382 | ||||||||
4,298 | 4,691 | |||||||
380 | 612 | 601 | 647 | |||||
Total | Engineering & | Chemical | Agricultural | Services | Investment | |||
Contracting | Industry | Production | ||||||
Employees | ||||||||
2021 | 16,543 | |||||||
2022 | 11,950 | |||||||
8 TEKFEN 2022 |
SUMMARY BALANCE SHEET (thousand TRY) | 31 December 2022 | 31 December 2021 | ||
Current Assets | 22,403,234 | 15,407,337 | ||
Non-Current Assets | 9,784,131 | 6,506,236 | ||
Total Assets | 32,187,365 | 21,913,573 | ||
Current Liabilities | 18,287,702 | 13,073,283 | ||
Non-Current Liabilities | 3,309,463 | 1,114,830 | ||
Equity Attributable to Owners of the Parent | 10,428,977 | 7,595,637 | ||
Non-controlling Interest | 161,223 | 129,823 | ||
Total Shareholders' Equity and Liabilities | 32,187,365 | 21,913,573 | ||
SUMMARY INCOME STATEMENT (thousand TRY) | 1 January - 31 December 2022 | 1 January - 31 December 2021 | ||
Revenue | 30,668,492 | 16,222,968 | ||
Gross Profit | 3,609,841 | 1,280,065 | ||
Operating Profit (Loss) | 2,350,415 | (478,221) | ||
Profit Before Taxation | 3,231,561 | 1,129,044 | ||
Net Profit | 3,448,392 | 829,390 | ||
IMPORTANT RATIOS | 31 December 2022 | 31 December 2021 | ||
Liquidity | ||||
Current Ratio | 1.23 | 1.18 | ||
Liability and Indebtedness | ||||
Total Liabilities / Equity Attributable to Owners of the Parent | 2.07 | 1.87 | ||
Current Liabilities / Total Liabilities | 0.85 | 0.92 | ||
1 January - 31 December 2022 | 1 January - 31 December 2021 | |||
Profitability | ||||
Gross Profit Margin | 11.77% | 7.89% | ||
EBITDA Margin | 11.12% | 4.49% | ||
Net Profit Margin | 11.24% | 5.11% | ||
Net Cash Calculation | (Bin TL) | |||
Cash and Cash Equivalents | 4,151,531 | |||
Financial Investments (*) | 1,769,033 | |||
Short-term Borrowings | (2,533,011) | |||
Short-term Portion of Long-term Borrowings | (191,296) | |||
Long-term Borrowings | (1,997,225) | |||
Effect of TFRS 16 Adjustment | 110,535 | |||
Effect of TFRS 9 Adjustment | (10,737) | |||
Net Cash as of 31 December 2022 | 1,298,830 | |||
(*) Long-andshort-term financial investments (Foreign currency-linked deposit and Eurobond)
2022 TEKFEN 9
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Disclaimer
Tekfen Holding AS published this content on 08 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 July 2023 12:45:07 UTC.