Turcas Petrol IFRS Consolidated Net Income/Loss Bridging (2Q22) (MM TL) Net Profit: 462 MM TL
354
35
122
5
-52
-11
-1
10
1,262
799
Profit For The
Turcas' Share in
Turcas' Share in
Usufruct
Other*
STAŞ BPA
Opex
Deferred Tax
Net Financing
Profit For The
Period 1Q 2022
STAŞ Net Profit in
RTG Net Profit in
Certificate
Expense
Income (o/w 3
Period 1H 2022
2Q
2Q
Revaluation Gain
MM TL from net
FX gains)
* Fair Value Difference Of Venture Capital Investment Fund Valuation (3.3 MM TL) and Rent & Service income (1.6 MM TL)Turcas 1H22
Turcas Petrol IFRS Consolidated Net Income/Loss Bridging (1H22) (MM TL) Net Profit: 1,262 MM TL
740
104
132
57
15
-52
-23
-5
-23
1,262
318
Turcas Kuyucak
Turcas' Share in
Turcas' Share in
Usufruct
Profit For The
Other**
STAŞ BPA
Opex
Deferred Tax
Net Financing
Profit For The
Geothermal
STAŞ Net Profit
RTG Net Profit
Certificate
Period From
Expense
Expenses (o/w
Period
(TKG) Share Sale
Revaluation Gain
Suspended
23 MM TL from
Profit
Operations
net FX losses)
(TKG)
** Fair Value Difference Of Venture Capital Investment Fund Valuation (11.4 MM TL) and Rent & Service income (3.2 MM TL)
2Q22 results were marked by Turcas's outstanding Net Profit Performance of 462 MM TL:
Shell&Turcas's Quarterly Net Profit of 1,182 MM TL(2,467 MM TL in 1H22) mostly due to significant stock gains (as high as ca. 0.9 Billion TL in 2Q22 and 2.0 Billion TL in 1H22) due to oil / product price increases and partially supported by increased market share;
RWE&Turcas's outstanding operational performance delivering a Quarterly Net Profit of 115 MM TL (347 MM TL in 1H22);
Revaluation gains from Usufruct Certificate amounting to 122 MM TL in 2Q21;
(-) 52 MM TL (3.56 MM USD) payment as per the Balancing Payment Agreement (BPA) due to increased volumes of STAŞ;
(+) Net Financing Income thanks to significant decrease in financial leverage compared to previous years.
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At a glance - 1H22 & [2Q22]
Fuel Distribution & Lubricants
VOLUME (1)
NET SALES
EBITDA
NET PROFIT
3,450
68,697
4,478
2,467
ths m3
MM TL
MM TL
MM TL
Shell & Turcas
in 1H22
in 1H22
in 1H22
in 1H22
[1,811 ths m3 in 2Q]
[42,542 MM TL in 2Q]
[2,265 MM TL in 2Q]
[1,182 MM TL in 2Q]
Power Generation
1,209 MM
2,525
355
347
kWh
MM TL
MM TL
MM TL
RWE & Turcas
in 1H22
in 1H22
in 1H22
in 1H22
[447 MM kWh in 2Q]
[1,276 MM TL in 2Q]
[131 MM TL in 2Q]
[115 MM TL in 2Q]
(1) For Shell & Turcas: Includes Onsite B2C Fuels, Onsite B2B Fuels, Commercial Fuels , LPG, Lubricants. Excluding Supply Third Party Sales.
Source: STAŞ management reports. Market share info : EMRA
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Turcas Petrol AS published this content on 09 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 August 2022 18:08:07 UTC.
Turcas Petrol AS is a Turkey-based investment company, focused in the oil and energy sector. Its joint venture, Shell and Turcas Petrol, is engaged in retail and commercial sales, marketing and distribution of fuel products and lubricants. Its joint venture, RWE and Turcas South Power Generation, operates a natural gas fired combined cycle power plant in the city of Denizli, Turkey. The Company also develops geothermal, solar and wind power projects and invests in a geothermal power plant site at Aydin district, Turkey under the name of Turcas Kuyucak Geothermal Power Generation. Its segments are: Oil, which includes lubricants, engine oil and fuel products; Electricity, which consists of the production, wholesale and distribution of electricity products, and Natural Gas, which consists of wholesale business of natural gas. Its subsidiaries include: Turcas Enerji Holding AS, Turcas Elektrik Uretim AS, Turcas Elektrik Toptan Satis AS and Turcas Yenilenebilir Enerji Uretim AS.
TURCAS PETROL 
