Tekfen Holding

Annual Report 2022

www.tekfen.com.tr

Trade Registration Number: 111233

4

10

14

58

84

100

116

136

180

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

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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.

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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

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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)

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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.