Turcas Petrol IFRS Consolidated Net Income/Loss Bridging (4Q22) (MM TL) Net Loss: -269MM TL
1,062
-262
56
-13
-15
-5
-29
793
Profit as of 9M 2022
Turcas' Share in STAŞ
Turcas' Share in RTG
Usufruct Certificate
Opex
Other*
Net Financing
Profit as of YE 2022
Net Loss in Q4
Net Profit in Q4
Revaluation Loss
Expenses (o/w 35 MM
TL from net FX losses)
* Fair Value Difference of VC Investment Fund (-4.5 MM TL), Rent & Service income (1.7 MM TL) and Deferred Tax Expense (-2.4 MM TL)
Turcas YE22
Turcas Petrol IFRS Consolidated Net Income Bridging (YE22) (MM TL)
Net Profit: 793 MM TL
133
57
12
-52
-50
-55
199
793
232
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 66
YE2022
Share Sale Profit
Revaluation Gain
Operations
MM TL from net
(TKG)(Until Share
FX losses)
Sale Date)
** Fair Value Difference of VC Investment Fund (10.3 MM TL), Rent & Service income (6.8 MM TL) and Deferred Tax Expense (-4.7 MM TL)
4Q22 results were marked by below performance factors:
(-) Shell&Turcas's Quarterly Net Loss of -873 MM TL mostly due to significant stock losses (ca. -416 Million TL) resulting from the oil / product
price decreases in 4Q22 and increased financing expenses; YE22 Net Profit of 772 MM TL includes stock gains of ca. 955 Million TL;
RWE&Turcas's positive performance delivering an increased Quarterly Net Profit of 186 MM TL (664 MM TL in YE22); (-) Revaluation losses from Usufruct Certificate amounting to -13 MM TL in 4Q22 (gain amounting to 133 MM TL in YE22);
(-) Diminishing impact of net FX Losses (compared to previous years) thanks to well on track financial deleveraging (Slide#10).
1
At a glance - YE22 & [4Q22]
Fuel Distribution & Lubricants
VOLUME (1)
NET SALES
EBITDA
NET PROFIT
7,583
160,889
4,073
772
ths m3
MM TL
MM TL
MM TL
Shell & Turcas
in YE22
in YE22
in YE22
in YE22
[1,994 ths m3 in 4Q]
[43,336 MM TL in 4Q]
[59 MM TL in 4Q]
[-873 MM TL in 4Q]
Power Generation
2,514 MM
8,480
733
664
kWh
MM TL
MM TL
MM TL
RWE & Turcas
in YE22
in YE22
in YE22
in YE22
[789 MM kWh in 4Q]
[3,896 MM TL in 4Q]
[221 MM TL in 4Q]
[186 MM TL in 4Q]
(1) For Shell & Turcas: Includes Onsite B2C Fuels, Onsite B2B Fuels, Commercial Fuels , LPG, Lubricants. Excluding Supply Third Party Sales.
Jan. 21' Feb. 21' Mar. 21' Apr. 21' May. 21' Jun. 21' Jul. 21' Aug. 21' Sept. 21'
Oct. 21' Nov. 21' Dec. 21' Jan. 22'
Feb 22' Mar. 22' Apr. 22'
May. 22' Jun. 22'
Jul. 22' Aug. 22' Sep. 22' Oct. 22'
Nov. 22' Dec. 22'
Shell
Opet
PO
Source: STAŞ management reports. Market share info : EMRA
4
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Disclaimer
Turcas Petrol AS published this content on 01 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 March 2023 20:58:06 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 
