(TÜPRAŞ) THE CONSOLIDATED INCOME STATEMENT

Transcription

1 Turkish Petroleum Refineries Corporation (TÜPRAŞ) THE CONSOLIDATED INCOME STATEMENT In accordance with Capital Market Board Regulations Unaudited Income Statement Unaudited Income Statement (1000 TL) (1000 USD) % change % change Revenue (10) (13) Cost of sales ( ) ( ) (8) ( ) ( ) (11) Gross profit (loss) General administrative expenses ( ) ( ) 5 (62.081) (61.776) 0 Marketing expenses (55.797) (51.840) 8 (18.872) (18.405) 3 Research and development expenses (7.129) (4.880) 46 (2.409) (1.666) 45 Other operating income (56) (100) (177) (101) Other operating expenses (67.041) ( ) (84) (22.840) ( ) (85) Operating profit (loss) Income/(expense) from investment activities (98) (98) Income (loss) from investments accounted by equity method Operating profit (loss) before financial income (expense) Financial income (61) (64) Financial expense ( ) ( ) (52) ( ) ( ) (54) Profit (loss) before tax from continued operations Tax income (expense) (87) (88) Taxes on income (54.677) (6.947) 687 (18.565) (2.533) 633 Deferred tax income (expense) (67) (68) Net profit (loss) from continued operations Other comprehensive income: Items to be reclassified to profit or loss (85.512) ( ) (83) (29.072) ( ) (85) Changes in currency translation (81) (82) Gains (losses) on hedging ( ) ( ) (83) (36.374) ( ) (85) Tax effect of other comprehensive income to be reclassified to profit or loss (84) (85) Deferred tax (expense) income (84) (85) Other comprehensive income (expense) (85.512) ( ) (83) (29.072) ( ) (85) Total comprehensive income (expense) Distribution of income (loss) for the period: Non-controlling interests Attributable to equity holders of the parent (23) (26) Distribution of total comprehensive income Non-controlling interests Attributable to equity holders of the parent Earnings (loss) per share from continued operations Earnings per share with nominal value Kr 1 each (Kr) 2,32 3,00 (23) 0,79 1,07 (26) EBITDA CMB : % change Operating profit (loss) ,6 Total Depreciation ,7 EBITDA, (1000 TRY) EBITDA, (1000 USD)

2 Turkish Petroleum Refineries Corporation (TÜPRAŞ) THE CONSOLIDATED INCOME STATEMENT In accordance with Capital Market Board Regulations Unaudited Income Statement Unaudited Income Statement (1000 TL) (1000 USD) % change % change Revenue (14) (22) Cost of sales ( ) ( ) (12) ( ) ( ) (21) Gross profit (loss) General administrative expenses ( ) ( ) ( ) ( ) ( ) 7 Marketing expenses ( ) ( ) ( ) (51.683) (49.251) 5 Research and development expenses (20.593) (17.073) (17.073) (7.021) (6.428) 9 Other operating income (13) Other operating expenses (77.688) ( ) ( ) (26.487) ( ) (91) Operating profit (loss) Income/(expense) from investment activities (126) (43) 290 (115) Income (loss) from investments accounted by equity method Operating profit (loss) before financial income (expense) Financial income (70) Financial expense ( ) ( ) ( ) ( ) ( ) (51) Profit (loss) before tax from continued operations Tax income (expense) (44.460) (108) (15.158) (107) Taxes on income ( ) (12.790) (12.790) (35.157) (4.815) 630 Deferred tax income (expense) (91) Net profit (loss) from continued operations Other comprehensive income: Items to be reclassified to profit or loss ( ) ( ) (81) (46.918) ( ) (83) Changes in currency translation (91) Gains (losses) on hedging ( ) ( ) ( ) (58.599) ( ) (83) Tax effect of other comprehensive income to be reclassified to profit or loss (82) (84) Deferred tax (expense) income (84) Other comprehensive income (expense) ( ) ( ) (81) (46.918) ( ) (83) Total comprehensive income (expense) Distribution of income (loss) for the period: Non-controlling interests Attributable to equity holders of the parent (48) Distribution of total comprehensive income Non-controlling interests Attributable to equity holders of the parent (23) Earnings (loss) per share from continued operations Earnings per share with nominal value Kr 1 each (Kr) 3,95 6,93 (42,93) 1,35 2,61 (48,32) EBITDA CMB : % change Operating profit (loss) ,6 Total Depreciation ,1 EBITDA, (1000 TRY) EBITDA, (1000 USD) CB Dollar Rate, USD/TL 2,9331 2,6562

3 Turkish Petroleum Refineries Corporation (TUPRAS) CONSOLIDATED BALANCE SHEET In accordance with Capital Market Board Regulations Unaudited Balance Sheet (1000 TL) Audited Balance Sheet (1000 TL) Unaudited Balance Sheet Audited Balance Sheet % change (1000 USD) (1000 USD) % change 30-Sep Dec Sep Dec-2015 Current assets Cash and cash equivalents Trade receivables (net) (13) (16) Due from related parties (49) (51) Trade receivables from unrelated parties (0) (3) Other receivables Due from unrelated parties Derivatives (10) (13) Inventories Prepaid expenses (0) Assets related to current period tax Other current assets (24) (26) Non-current assets (1) Financial investments (3) Investment accounted by equity method Investment property (3) Property, plant and equipment (2) Intangible assets(net) (15) (18) Other intangible assets (15) (18) Derivatives (15) Prepaid expenses Deferred tax assets (3) Other non-current assets TOTAL ASSETS Current Liabilities Short-term financial liabilities (net Current portion of long-term financial liabilities(net) Trade payables (net) Due to related parties (26) (29) Other trade payables Payables related to employee benefits (45) (47) Other payables (23) (25) Other payables to unrelated parties (23) (25) Derivatives Deferred income (91) (91) Current period corporate tax provision Short-term provisions Employee benefits Other provisions Other current liabilities Non-current Liabilities Long-term financial liabilities(net) Long-term provisions (1) Employee benefits (1) Deferred incomes (8) (10) Other non-current liabilities Derivatives (9) (12) TOTAL LIABILITIES EQUITY (7) (9) Share capital (3) Adjustment to share capital (3) Share premiums/discounts (3) Accumulated other comprehensive income/(expense) not to be reclassified to profit or loss (3.622) (3.622) - (1.209) (1.246) (3) Revaluation and reclassification gains/(losses) (3.622) (3.622) - (1.209) (1.246) (3) Actuarial gain/(loss) arising from defined benefit plans (3.622) (3.622) - (1.209) (1.246) (3) Accumulated other comprehensive income/(expense) to be reclassified to profit or loss ( ) ( ) 33 ( ) ( ) (10) Hedging gains/(losses) ( ) ( ) 27 ( ) ( ) 23 Cash flow hedge gains/(losses) ( ) ( ) 27 ( ) ( ) 23 Currency translation differences (45.567) (135) Share of other comprehensive income accounted for investment using equity method that will be reclassified to profit or loss (3) Restricted reserves Retained earnings Net Income for the period (61) (64) Total equity attributable to equity holders of the parent (7) (9) Non-controlling interest TOTAL EQUITY AND LIABILITIES Foreign Exchange Rate TL/USD 2,9959 2,9076

4 Production Products 9M M 2015 LPG NAPTHA SOLVENT (1.250) (17) GASOLINES JET FUEL ( ) (8) KEROSENE (14.270) (19) GASOIL FUEL OIL ( ) (32) BITUMEN HVGO (35.055) (46) LUBE OIL (9.664) (9) SULPHUR COKE OTHERS TOTAL Total Sales Products 9M M 2015 LPG NAPTHA (35.823) (17) SOLVENT (1.088) (15) GASOLINES JET FUEL ( ) (3) KEROSENE (31.781) (71) GASOIL FUEL OIL ( ) (19) BITUMEN LUBE OIL (5.756) (6) SULPHUR COKE OTHERS (1.753) (5) TOTAL Export KEY OPERATIONAL DATA Products 9M M 2015 LPG (505) (3) NAPTHA (17.821) (66) GASOLINES ( ) (5) REFORMATE JET FUEL GASOIL (2.367) (5) FUEL OIL ( ) (41) ASRFO SOLVENT (1.136) (35) TOTAL ( ) (12)

5 Domestic Sales Products 9M M 2015 LPG NAPTHA (18.001) (10) SOLVENT GASOLINES JET FUEL ( ) (3) KEROSENE (31.781) (71) GASOIL FUEL OIL BITUMEN LUBE OIL (5.756) (6) SULPHUR COKE OTHERS (1.753) (5) TOTAL Crude Oil Processed Capacity Utilization rate,% 98,7 95,3 3,5 Total Processed Total Capacity Utilization rate,% 103,6 99,5 4,1

6 KEY OPERATIONAL DATA Production Products 3Q Q 2015 LPG ,3 NAPTHA (39.599) (55,4) SOLVENT (490) (19,6) GASOLINES ,7 JET FUEL ( ) (19,0) KEROSENE (7.795) (32,0) GASOIL ,8 FUEL OIL (3.835) (1,1) BITUMEN ,6 HVGO (138,9) LUBE OIL ,1 SULPHUR (5.354) (6,4) COKE (43.293) (19,2) OTHERS ,9 TOTAL (75.865) (1) Total Sales Products 3Q Q 2015 LPG ,6 NAPTHA (12.031) (24,0) SOLVENT (311) (11,9) GASOLINES ,7 JET FUEL ( ) (15,4) KEROSENE (14.930) (90,8) GASOIL ,1 FUEL OIL ,1 BITUMEN ,3 LUBE OIL (397) (1,5) SULPHUR ,2 COKE (58.907) (25,7) OTHERS (978) (9,7) TOTAL ,1 Export Products 3Q Q 2015 LPG ,4 NAPTHA ,0 GASOLINES (84.240) (10,2) REFORMATE ,0 JET FUEL (282) (10,6) GASOIL (966) (6,2) FUEL OIL (17.161) (6,3) ASRFO ,0 SOLVENT (482) (37,6) TOTAL (6.397) (1)

7 Domestic Sales Products 3Q Q 2015 LPG ,0 NAPTHA (21.076) (42,0) SOLVENT ,0 GASOLINES ,5 JET FUEL ( ) (15,4) KEROSENE (14.930) (90,8) GASOIL ,2 FUEL OIL ,6 BITUMEN ,3 LUBE OIL (397) (1,5) SULPHUR ,2 COKE (58.907) (25,7) OTHERS (978) (9,7) TOTAL ,5 Crude Oil Processed (68.919) (0,9) Capacity Utilization rate,% 104,7 105,7 Total Processed (87.468) (1,1) Total Capacity Utilization rate,% 109,08 110,3

8 Refining Margin Analysis Date TÜPRAŞ Med.Ural Ref. Margin Difference COMPLEX SIMPLE TÜPRAŞ/COMPLEX 2006/1.Q 3,73 4,81 2,67 (1,08) 2007/1.Q 5,04 5,70 2,27 (0,66) 2008/1.Q 7,83 3,70 0,73 4, /1.Q 9,32 3,44 2,34 5, /1.Q 9,17 3,50 1,84 5, /1.Q 10,79 0,42 (1,70) 10, /1.Q 8,41 2,97 2,23 5, /1.Q 9,41 2,83 0,50 6, /1.Q 9,74 0,44 (0,92) 9, /1.Q 10,33 5,98 4,02 4, /1.Q 8,23 3,84 0,89 4, /2.Q 6,67 6,99 3,03 (0,32) 2007/2.Q 9,17 7,22 2,75 1, /2.Q 12,65 6,28 2,92 6, /2.Q 9,30 1,40 (0,21) 7, /2.Q 10,95 3,55 1,88 7, /2.Q 10,90 1,65 (1,38) 9, /2.Q 10,23 5,73 4,02 4, /2.Q 9,62 2,52 1,08 7, /2.Q 7,21 0,06 (1,63) 7, /2.Q 12,63 4,88 2,50 7, /2.Q 10,58 3,20 0,13 7, /3.Q 7,78 5,38 0,78 2, /3.Q 6,97 3,75 0,84 3, /3.Q 12,90 6,72 5,09 6, /3.Q 8,88 1,59 0,45 7, /3.Q 11,34 1,74 0,46 9, /3.Q 14,36 1,20 (0,57) 13, /3.Q 12,87 5,23 2,95 7, /3.Q 10,48 1,05 (0,56) 9, /3.Q 12,83 3,45 1,54 9, /3.Q 13,32 4,92 2,01 8, /3.Q 10,79 3,81 1,84 6, /4.Q 4,67 4,02 1,02 0, /4.Q 7,47 4,63 1,92 2, /4.Q 9,32 5,46 4,12 3, /4.Q 9,40 1,34 0,56 8, /4.Q 12,29 2,76 0,20 9, /4.Q 11,76 1,41 0,87 10, /4.Q 9,36 2,92 0,55 6, /4.Q 8,86 0,30 (1,21) 8, /4.Q 11,80 3,84 2,04 7, /4.Q 10,90 3,54 0,73 7, /1st Half 5,40 5,90 2,85 (0,50) 2007/1st Half 7,22 6,46 2,51 0, /1st Half 10,45 4,99 1,82 5, /1st Half 9,31 2,42 1,07 6, /1st Half 10,17 3,53 1,86 6, /1st Half 10,85 1,04 (1,54) 9, /1st Half 9,36 4,35 3,13 5,01

9 Date TÜPRAŞ Med.Ural Ref. Margin Difference COMPLEX SIMPLE TÜPRAŞ/COMPLEX 2013/1st Half 9,53 2,68 0,79 6, /1st Half 8,47 0,25 (1,28) 8, /1st Half 11,60 5,43 3,26 6, /1st Half 9,41 3,52 0,51 5, /2nd Half 6,25 4,70 0,90 1, /2nd Half 7,21 4,19 1,38 3, /2nd Half 11,35 6,09 4,60 5, /2nd Half 9,31 2,42 1,07 6, /2nd Half 11,81 2,25 0,33 9, /2nd Half 13,13 1,31 0,15 11, /2nd Half 11,15 4,08 1,75 7, /2nd Half 9,70 0,67 (0,88) 9, /2nd Half 12,32 3,64 1,79 8, /2nd Half 12,10 4,23 1,37 7, /9 M 6,28 5,73 2,16 0, /9 M 7,14 5,56 1,95 1, /9 M 11,33 5,57 2,91 5, /9 M 9,15 2,15 0,86 7, /9 M 10,62 2,93 1,39 7, /9 M 12,09 1,09 (1,22) 11, /9 M 10,66 4,64 3,07 6, /9 M 9,88 2,13 0,34 7, /9 M 10,09 1,31 (0,34) 8, /9 M 12,23 5,26 2,84 6, /9 M 9,90 3,62 0,95 6, ,86 5,30 1,88 0, ,22 5,32 1,95 1, ,90 5,54 3,21 5, ,21 1,95 0,79 7, ,08 2,89 1,10 8, ,01 1,17 (0,70) 10, ,32 4,21 2,44 6, ,62 1,67 (0,05) 7, ,56 1,95 0,26 8, ,87 4,83 2,32 7,04

10 Refining Margin Analysis Date TÜPRAŞ Med.Ural Ref. Margin Difference COMPLEX SIMPLE TÜPRAŞ/COMPLEX 2004/1.Q (0,10) 3,82 1,17 (3,92) 2005/1.Q (0,84) 3,26 (0,40) (4,10) 2006/1.Q (1,90) 4,81 2,67 (6,71) 2007/1.Q 0,37 5,70 2,27 (5,33) 2008/1.Q 1,57 3,70 0,73 (2,13) 2009/1.Q 1,72 3,44 2,34 (1,73) 2010/1.Q 1,37 3,50 1,84 (2,13) 2011/1.Q 3,87 0,42 (1,70) 3, /1.Q 1,96 2,97 2,23 (1,01) 2013/1.Q 0,90 2,83 0,50 (1,93) 2014/1.Q 2,41 0,44 (0,92) 1, /1.Q 4,69 5,98 4,02 (1,29) 2016/1.Q 2,81 3,84 0,89 (1,02) 2004/2.Q 1,94 5,59 1,96 (3,65) 2005/2.Q 3,42 6,37 3,07 (2,95) 2006/2.Q 2,83 6,99 3,03 (4,17) 2007/2.Q 4,38 7,22 2,75 (2,84) 2008/2.Q 6,13 6,28 2,92 (0,15) 2009/2.Q 2,62 1,40 (0,21) 1, /2.Q 4,89 3,55 1,88 1, /2.Q 4,34 1,65 (1,38) 2, /2.Q 3,65 5,73 4,02 (2,09) 2013/2.Q 2,63 2,52 1,08 0, /2.Q (0,28) 0,06 (1,63) (0,34) 2015/2.Q 7,48 4,88 2,50 2, /2.Q 5,21 3,20 0,13 2, /3.Q 2,12 5,25 0,99 (3,13) 2005/3.Q 2,69 6,19 2,23 (3,50) 2006/3.Q 3,79 5,38 0,78 (1,59) 2007/3.Q 1,56 3,75 0,84 (2,20) 2008/3.Q 6,37 6,72 5,09 (0,35) 2009/3.Q 1,87 1,59 0,45 0, /3.Q 5,02 1,74 0,46 3, /3.Q 8,20 1,20 (0,57) 7, /3.Q 5,91 5,23 2,95 0, /3.Q 4,13 1,05 (0,56) 3, /3.Q 5,53 3,45 1,54 2, /3.Q 8,32 4,92 2,01 3, /3.Q 5,68 3,81 1,84 1, /4.Q 3,28 6,63 2,21 (3,35) 2005/4.Q 1,82 5,41 2,91 (3,60) 2006/4.Q 0,93 4,02 1,02 (3,09) 2007/4.Q 2,00 4,63 1,92 (2,62) 2008/4.Q 3,45 5,46 4,12 (2,01) 2009/4.Q 3,05 1,34 0,56 1, /4.Q 5,82 2,76 0,20 3, /4.Q 4,42 1,41 0,87 3, /4.Q 1,72 2,92 0,55 (1,20) 2013/4.Q 2,03 0,30 (1,21) 1, /4.Q 4,56 3,84 2,04 0, /4.Q 5,17 3,54 0,73 1,63

11 Date TÜPRAŞ Med.Ural Ref. Margin Difference COMPLEX SIMPLE TÜPRAŞ/COMPLEX 2004/1st Half 0,93 4,71 1,57 (3,77) 2005/1st Half 1,42 4,81 1,34 (3,40) 2006/1st Half 0,78 5,90 2,85 (5,12) 2007/1st Half 2,49 6,46 2,51 (3,97) 2008/1st Half 4,05 4,99 1,82 (0,94) 2009/1st Half 2,22 2,42 1,07 (0,20) 2010/1st Half 3,42 3,53 1,86 (0,11) 2011/1st Half 4,12 1,04 (1,54) 3, /1st Half 2,85 4,35 3,13 (1,50) 2013/1st Half 1,88 2,68 0,79 (0,80) 2014/1st Half 1,05 0,25 (1,28) 0, /1st Half 6,23 5,43 3,26 0, /1st Half 4,03 3,52 0,51 0, /2nd Half 2,69 5,94 1,60 (3,25) 2005/2nd Half 2,27 5,80 2,57 (3,53) 2006/2nd Half 2,39 4,70 0,90 (2,31) 2007/2nd Half 1,78 4,19 1,38 (2,41) 2008/2nd Half 5,10 6,09 4,60 (0,99) 2009/2nd Half 2,43 1,47 0,51 0, /2nd Half 5,42 2,25 0,33 3, /2nd Half 6,42 1,31 0,15 5, /2nd Half 3,86 4,08 1,75 (0,22) 2013/2nd Half 3,12 0,67 (0,88) 2, /2nd Half 5,04 3,64 1,79 1, /2nd Half 6,74 4,23 1,37 2, /9 M 1,37 4,89 1,37 (3,52) 2005/9 M 1,87 5,27 1,63 (3,40) 2006/9 M 1,90 5,73 2,16 (3,83) 2007/9 M 2,16 5,56 1,95 (3,39) 2008/9 M 4,88 5,57 2,91 (0,68) 2009/9 M 2,09 2,15 0,86 (0,05) 2010/9 M 4,01 2,93 1,39 1, /9 M 5,57 1,09 (1,22) 4, /9 M 3,85 4,64 3,07 (0,80) 2013/9 M 2,59 2,13 0,34 0, /9 M 2,71 1,31 (0,34) 1, /9 M 6,89 5,26 2,84 1, /9 M 4,60 3,62 0,95 0, ,87 5,32 1,58 (3,45) ,86 5,31 1,95 (3,45) ,64 5,30 1,88 (3,66) ,12 5,32 1,95 (3,20) ,57 5,54 3,21 (0,97) ,29 1,95 0,79 0, ,51 2,89 1,10 1, ,29 1,17 (0,70) 4, ,31 4,21 2,44 (0,91) ,45 1,67 (0,05) 0, ,21 1,95 0,26 1, ,47 4,83 2,32 1,64