Turcas Petrol IFRS Consolidated Net Income/Loss Bridging (YE21)
Turcas YE21
Net Loss: -80 MM TL
114
7
12
5
-27
-245
60
7
30
-44
-80
STAŞ
Usufruct
Turcas Share in
Turcas Share in
Fair value
Fair Value
Deferred Tax
Holding Opex &
Net Financing
Loss For The
Loss For The
Management
Certificate
STAŞ's Net Profit RTG's Net Profit
difference of
Difference Of
Income
Other
Expenses (o/w
Period From
Period
Fees
Revaluation Gain
ATAŞ valuation
Venture Capital
259 MM TL from
Suspended
Investment Fund
net FX losses)
Operations (TKJ)
Valuation
Turcas 4Q21
Turcas Petrol IFRS Consolidated Net Income/Loss Bridging (4Q21)
Net Loss: -147 MM TL
44
-33
69
10
5
-7
-195
67
-41
-80
Profit For The
Usufruct
Turcas share in
Turcas share in
Fair Value
Deferred Tax
Holding Opex &
Net Financing
Loss For The
Loss For The
Period 9M 2021
Certificate
STAŞ's Net Loss of RTG's Net Profit of
Difference Of
Income
Other
Expenses (o/w
Period From
Period YE 2021
Revaluation Gains
4Q 2021
4Q 2021
Venture Capital
211 MM TL from
Suspended
Investment Fund
net FX Losses)
Operations (TKJ)
Valuation
YE21 results were marked by the below performance factors:
(+) STAŞ's YE21 Net Profit of 202 MM TL thanks to outstanding operational performance in fuel retail and lubricants (despite FX related net loss of -110 MM TL in 4Q21);
(+) RTG's outstanding operational performance especially in 4Q'21 (Quarterly Net Profit of 231 MM TL);
(+) FX based revaluation gains from Usufruct Certificate and Venture Capital Investment Fund totally amounting to 54 MM TL in 4Q21;
(-)Net FX losses (especially in Q4) accruing on FX denominated Financial Liabilities due to sharp depreciation of TL in Q4
1
At a glance - YE21 & [4Q21]
Fuel Distribution & Lubricants
VOLUME (1)
NET SALES
EBITDA
NET PROFIT
6.8 MM
55,569
2,039
202
m3
MM TL
MM TL
MM TL
Shell & Turcas
in YE21
in YE21
in YE21
in YE21
[1.9 MM m3 in 4Q]
[19,281 MM TL in 4Q]
[341 MM TL in 4Q]
[-110 MM TL in 4Q]
Power Generation
4.3 MMM
2,715
417
379
kWh
MM TL
MM TL
MM TL
RWE & Turcas
in YE21
in YE21
in YE21
in YE21
[1.3 MMM kWh in 4Q]
[1,322 MM TL in 4Q]
[230 MM TL in 4Q]
[231 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. Feb. Mar. Apr. May. Jun. Jul. Aug. Sept. Oct. Nov. Dec.
Shell
Opet
PO
Source: STAŞ management reports. Market share info : EMRA
4
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Turcas Petrol AS published this content on 14 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 March 2022 12:53:04 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 
