Turcas Petrol IFRS Consolidated Net Income/Loss Bridging (3Q22) (MM TL) Net Loss: -200MM TL
1,262
-247
39
15
8
-12
-3
1,062
Profit as of 1H 2022
Turcas' Share in STAŞ
Turcas' Share in RTG
Usufruct Certificate
Other*
Opex
Net Financing
Profit as of 9M 2022
Net Loss in Q3
Net Profit in Q3
Revaluation Gain
Expenses (o/w 8 MM
TL from net FX losses)
* Fair Value Difference of VC Investment Fund (3.5 MM TL), Rent & Service income (1.9 MM TL) and Deferred Tax Income (2.6 MM TL)
Turcas 9M22
Turcas Petrol IFRS Consolidated Net Income Bridging (9M22) (MM TL) Net Profit: 1,062 MM TL
146
57
18
-52
-35
1,062
143
-26
493
318
Turcas Kuyucak
Turcas' Share in
Turcas' Share in
Usufruct
Profit From
Other**
STAŞ BPA
Opex
Net Financing
Profit as of
Geothermal (TKG)
STAŞ Net Profit
RTG Net Profit
Certificate
Suspended
Expenses (o/w 31
9M2022
Share Sale Profit
Revaluation Gain
Operations
MM TL from net
(TKG)(Until Share
FX losses)
Sale Date)
** Fair Value Difference of VC Investment Fund (14.9 MM TL), Rent & Service income (5.1 MM TL) and Deferred Tax Expense (-2.3 MM TL)
3Q22 results were marked by the below performance factors:
(-) Shell&Turcas's Quarterly Net Loss of -822 MM TL mostly due to significant stock losses (ca. -660 Million TL) resulting from the oil / product price decreases in 3Q22 and increased financing expenses; 9M22 Net Profit of 1,645 MM TL includes stock gains of ca. 1.4 Billion TL;
RWE&Turcas's positive performance delivering a Quarterly Net Profit of 131 MM TL (478 MM TL in 9M22);
Revaluation gains from Usufruct Certificate amounting to 15 MM TL in 3Q22 (146 MM TL in 9M22);
(-) Diminishing impact of FX Losses (compared to previous years) thanks to well on track financial deleveraging (Slide#10).
1
At a glance - 9M22 & [3Q22]
Fuel Distribution & Lubricants
VOLUME (1)
NET SALES
EBITDA
NET PROFIT
5,589
117,553
4,014
1,645
ths m3
MM TL
MM TL
MM TL
Shell & Turcas
in 9M22
in 9M22
in 9M22
in 9M22
[2,139 ths m3 in 3Q]
[48,856 MM TL in 3Q]
[-464 MM TL in 3Q]
[-822 MM TL in 3Q]
Power Generation
1,725 MM
4,584
512
478
kWh
MM TL
MM TL
MM TL
RWE & Turcas
in 9M22
in 9M22
in 9M22
in 9M22
[516 MM kWh in 3Q]
[2,059 MM TL in 3Q]
[157 MM TL in 3Q]
[131 MM TL in 3Q]
(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
Commercial Fuel Sales
ths m3
+19% y/y
945
+345
792
in Q3
9M219M22
Onsite Market Share Progress in 2021-2022 July 1
22.0%
21.9%
21.6%
21.5%
21.0%
20.0%
19.1%
18.7%
19.0%
18.8%
18.8%
18.0%
17.6%
18.0%
18.1%18.2%
17.0%
17.4%
16.0%
Apr. 21'
May. 21'
Jun. 21'
Nov. 21'
Dec. 21'
Feb 22'
Apr. 22'
May. 22'
Jun. 22'
Jan. 21'
Feb. 21'
Mar. 21'
Jul. 21'
Aug. 21'
Sept. 21'
Oct. 21'
Jan. 22'
Mar. 22'
Jul. 22'
Shell
Opet
PO
4
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Turcas Petrol AS published this content on 31 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 October 2022 18:41:00 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 
