turcas tasar.m*kapak

Transkript

faaliyet raporu
annual report
2000
TURCAS PETROL A.fi.
K›saca Turcas Petrol
01
Turcas Petrol in Brief
Finansal Göstergeler
04
Financial Highlights
Yönetim Kurulu Baflkan›’n›n Mesaj›
06
Chairman’s Message
Yönetim Kurulu
10
Board of Directors
Üst Yönetim
11
Executive Management
içindekiler contents
Sermaye ve Ortakl›k Yap›s›
13
Capital and Shareholder Structure
Ekonomik Geliflmelere Bak›fl
14
Economic Overview
Faaliyetler
17
Review of Operations
Türkiye’de Petrol Sektörü
17
Petroleum Industry in Turkey
Petrol Ürünleri
19
Petroleum Products
Ürün Kalitesi ve Pazar Pay›
21
Product Quality and Market Share
Pazarlama Faaliyetleri
21
Marketing Activities
‹nsan Kaynaklar›
27
Human Resources
Denetçi Raporu ve Finansal Tablolar
28
Auditors’ Report and Financial Statements
Adresler
Directory
k›saca turcas petrol
Turcas Petrol ülke çap›nda faaliyet gösteren bir petrol
Turcas Petrol is a nation-wide petroleum products
ürünleri da¤›t›m flirketidir. fiirket bu faaliyetlerini, tüm
distribution company. It operates through long-term sales
ülkeye yay›lm›fl Türkpetrol ad› alt›nda hizmet veren say›lar›
and branding agreements at 729 dealer stations
729’a ulaflan bayi istasyonlar› ile uzun vadeli sat›fl ve
throughout Turkey using the Türkpetrol brand. It strives to
marka kullan›m anlaflmalar› yaparak sürdürmektedir.
maximize the sales to dealers, and hence to the final
Modern istasyon kurma ve da¤›t›m sistemine sahip olan
consumers, using its modern terminal and distribution
Turcas Petrol, sat›fl ve pazarlama deneyimi ve Castrol ve
system, its sales and marketing expertise and its
‹pragaz gibi otomotiv sektörünün önde gelen markalar› ile
association with other major brands in the automotive
yapt›¤› iflbirli¤inden yararlanarak, bayilerine ve dolay›s›yla
sector, such as Castrol and ‹pragaz.
nihai tüketicilere yapt›¤› sat›fllar› en üst düzeye art›rmay›
amaçlamaktad›r.
Turcas Petrol, today, is the offspring company following the
merger between Tabafl Petrolcülük A.fi. and Turcas
Turcas
Petrol,
Tabafl
Petrolcülük A.fi. Prior to the merger,
Turcas
Tabafl Petrolcülük A.fi. owned an
Petrolcülük A.fi.’nin birleflmesinden
85% share of Turcas Petrolcülük
do¤mufl bir flirket olarak faaliyetlerini
A.fi. When the merging process was
sürdürmektedir. Birleflmeden önce
completed in 1999, the name of the
Tabafl Petrolcülük A.fi., Turcas
Company was changed from Tabafl
Petrolcülük A.fi.’nin %85 oran›nda
Petrolcülük A.fi. to Turcas Petrol
orta¤›yd›. 1999 y›l›nda birleflme
A.fi. in recognition of the wider
ifllemi
Tabafl
public knowledge of the name
fiirket,
Turcas.
Petrolcülük
A.fi.
bugün,
ve
tamamlan›nca,
Petrolcülük
A.fi.
olan
ünvan›n›, Turcas markas›n›n genifl
kitlelerce
tan›nmas›ndan
dolay›,
There were numerous benefits to
Turcas Petrol A.fi. olarak de¤ifltirmifltir.
this merger process.
Bu birleflme ifllemi birçok yararlar sa¤lanm›flt›r:
• Previous tax loss carry forwards accrued in 1997 and
1998 could be utilized.
• 1997 ve 1998 y›llar›ndan devreden vergi kay›plar›n›n
•
devam etmesi önlenmifltir.
management could be achieved.
• Uygun bir vergi planlamas› ve her iki flirket için etkin bir
• Terminal and distribution systems were optimized.
yönetim sa¤lanabilmifltir.
• All Head Office and support staff activities were
• ‹stasyon kurma ve da¤›t›m sistemleri optimum düzeye
streamlined.
getirilmifltir.
• The possibility of operating under one brand name, and
• Tüm Genel Müdürlük ve hizmet destek personelinin
generating a greater marketing presence throughout the
faaliyetleri etkinlefltirilmifltir.
country could be achieved.
Appropriate
tax
planning
and
efficient
cash
• Ayn› marka alt›nda faaliyet gösterme olana¤› ve ülke
çap›nda
daha
yayg›n
pazarlama
etkinli¤i
gerçeklefltirilmifltir.
turcas petrol ›n br›ef
01
k›saca turcas petrol (devam)
Dünya enerji sektöründe faaliyet gösteren en büyük
Conoco, well known and respected as one of the largest
kurulufllardan biri olarak tan›nan ve sayg›n bir konuma
organizations within the global energy industry, has a
sahip olan Conoco, Turcas Petrol’ün %27.64 hissesine
27.64% stake in Turcas Petrol. With operations currently
sahiptir. Dünyan›n yaklafl›k 40 ülkesinde faaliyetlerini
underway in approximately 40 countries around the
sürdüren ve merkezi Teksas, Houston kentinde yerleflik
world, Conoco is headquartered in Houston, Texas.
olan Conoco, teknik know-how, finans, iflgücü ve da¤›t›m
Conoco backs Turcas Petrol with technical know-how,
sektöründe elde etti¤i deneyimleri ile Turcas Petrol’ü
manpower and expertise in the petroleum distribution
desteklemektedir.
sector.
Turcas Petrol, sahip oldu¤u vizyonun temel bir unsuru
As part of its vision, Turcas Petrol aims to be the leading
olarak, Türkiye’nin petrol ürünleri da¤›t›m flirketleri
petroleum products distribution company in Turkey. The
aras›nda lider olmay› hedeflemektedir. fiirket’in bu
management is confident that they can reach this goal not
hedefine
ortaklar›n›n
only by a satisfied group of customers, dealers and
memnuniyetini art›rarak de¤il, ayn› zamanda içinde
sadece
müflteri,
bayi
ve
shareholders but also by improving the community they
yaflad›¤› toplumu ve paylaflt›¤› dünyay› daha iyiye
live in and the world they share.
götürerek ulaflaca¤› konusunda yönetim kadrosunun
güveni tamd›r.
Turcas Petrol has an excellent group of dealers in key
locations throughout the country and plans to continue to
Ülke çap›nda önemli bölgelerde istasyonlara sahip etkin
acquire additional high quality dealer contracts in the
bir bayi a¤› iflleten Turcas Petrol, gelecek y›llarda da¤›t›m
coming years. The Company plans to grow faster than the
a¤›n› geniflletmek amac›yla yeni bayi sözleflmeleri
market by offering top of the product quality, the best
imzalamaya devam edecektir. fiirket en kaliteli ürünleri, en
forecourt service, well stocked and merchandised shops,
iyi istasyon hizmetini, en iyi düzeyde mal stokuna ve
fleet gasoline management systems, and the best trained
çeflitlili¤ine sahip istasyon-marketlerini, en iyi filo akaryak›t
staff to ensure that excellent service is delivered safely at
yönetim sistemini ve tüm bayilerde mükemmel düzeyde
all sites.
hizmet verilmesini temin etmek amac›yla en iyi flekilde
e¤itilmifl personel ile pazarda rakiplerine göre daha h›zl›
In 1996, an agreement was reached between Türkpetrol
büyümeyi planlamaktad›r.
Foundation, the organization that owns the legal rights on
the name Türkpetrol, and Tabafl to permit the use of the
1996 y›l›nda ticari ünvan ile ilgili yasal haklara sahip olan
brand name for a period of ten years. Following the
Türkpetrol Vakf› ile Tabafl aras›nda yap›lan bir anlaflma
merger in 1999 and an extension of the term of the
kapsam›nda Türkpetrol markas›n›n on y›l süre ile kullan›m
franchise agreement, it was decided that services would
hakk› devral›nm›flt›r. 1999 y›l›nda gerçekleflen flirket
be delivered under the brand "Türkpetrol".
birleflmesi ve anlaflma süresinin uzat›m› sonucunda
hizmetlerin
verilmesi
In 2000, 25 Tabafl gasoline stations were transformed into
kararlaflt›r›lm›flt›r. 2000 y›l›nda 25 Tabafl istasyonunun
"Türkpetrol"
ad›
alt›nda
Türkpetrol stations and 17 new stations were opened
Türkpetrol’e de¤ifltirilmesi ve 17 yeni istasyonun aç›lmas›
bringing the total number of stations operating under the
ile tüm ülkede Türkpetrol ad› alt›nda hizmet veren toplam
02
benzin istasyonu say›s› 729’a yükselmifltir. Turcas
Türkpetrol brand to 729 throughout Turkey. As a result of
Petrol’ün ‹pragaz ile kurdu¤u baflar›l› stratejik ortakl›k
Turcas Petrol’s successful strategic partnership with
sonucunda ise, oto LPG sat›lan istasyon say›s› 143’e
‹pragaz, the number of stations selling auto-LPG has
ulaflm›flt›r.
reached 143.
Turcas Petrol’ün 2000 y›l›nda en karl› petrol ürünü
Turcas Petrol realized gasoline sales of 570,000 cubic
570,000 metre küp sat›fl gerçeklefltirdi¤i benzin olmufltur.
meters in 2000 – the petroleum product yielding the
fiirket’in 1999 y›l›nda %11.7 olan pazar pay› 2000 y›l›
highest profit margin. The market share of the Company
sonunda %12.1 seviyesine yükselmifltir. Ayn› dönemde,
rose from 11.7% in 1999 to 12.1% at the end of the year.
dizel yak›t sat›fl› 837,000 metre küp olarak gerçekleflmifl,
In 2000, Turcas Petrol increased sales of diesel fuel to
fiirket’in pazar pay› ise %8.1 olmufltur.
837,000 cubic meters representing a market share of
8.1%.
A¤ustos ve Eylül aylar›nda fiirket’e ait iki adet IMO II s›n›f›
kimyasal/beyaz ürün tankerinin Tuzla Çelik Tekne
In August and September, the Company completed and
Tersanesinde yap›m› tamamlanm›fl ve baflar›yla denize
successfully launched two IMO II-class chemical/white oil
indirilmifltir. Her iki tanker yürürlükte olan tüm uluslararas›
vessels from the Tuzla Çelik Tekne Shipyard. Both tankers
standartlara uygun bir flekilde, çift cidarl› ve kaplanm›fl
were constructed with double skin and lined cargo tanks
kargo tank›na sahip olarak imal edilmifltir.
that match the latest international standards.
SPK standartlar›nda haz›rlanan rapora göre 2000 y›l›nda
According
561,179 milyar TL net sat›fl gelir elde eden Turcas
accordance with Capital Markets Board, during 2000,
Petrol’ün öz sermayesi y›l sonunda 11,104 milyar TL
Turcas Petrol achieved a net income of TL 561,179 billion
seviyesine yükselmifltir. Ayn› dönem için, fiirket’in vergi
with shareholders’ equity reaching TL 11,104 billion. In
öncesi zarar› 12,332 milyar TL, aktif toplam› ise 105,234
the same period, the Company recorded a pre-tax loss of
milyar TL olarak aç›klanm›flt›r. Uluslararas› Muhasebe
TL 12,332 billion with an asset size that reached TL
Standartlar›nda haz›rlanan rapora göre; 2000 y›l›nda
105,234 billion. According to financial statements
626,682 milyar TL net geliri elde eden Turcas Petrol’ün öz
prepared in accordance with International Accounting
sermayesi y›l sonunda 31,330 milyar TL seviyesine
Standards, Turcas Petrol achieved a net income of TL
yükselmifltir. Ayn› dönem içinde, fiirket’in vergi öncesi kar›
626,682 billion in 2000 and the net worth of the Company
10,518 milyar TL, aktif toplam› ise 138,638 milyar TL
reached TL 31,330 billion by the end of the year. For the
olarak aç›klanm›flt›r.
same period, the Company achieved a pre-tax profit of TL
to
financial
statements
prepared
in
10,518 billion and total assets of TL 138,638 billion.
2000 y›l› sonu itibariyle Turcas Petrol hisselerinin yaklafl›k
%15’i ‹stanbul Menkul K›ymetler Borsas› Ulusal Pazar’da
At year-end 2000, approximately 15% of Turcas Petrol
ifllem görmektedir.
shares were traded on the Istanbul Stock Exchange
National Market.
turcas petrol ›n br›ef (cont›nued)
03
finansal göstergeler
f›nanc›al h›ghl›ghts
Bilanço Özeti / Summary Balance Sheet Accounts
(milyar TL) / (TL billion)
2000
1999
1998
39,254
37,629
1,720
K›sa Vadeli Ticari Alacaklar / Accounts Receivable
18,009
23,290
1,159
Stoklar / Inventories
10,020
4,483
333
2,155
2,155
35,121
Duran Varl›klar, net / Fixed Assets, net
27,436
17,982
749
Maddi Olmayan Duran Varl›klar / Intangible Assets
35,218
44,128
2
105,234
102,426
37,603
47,652
39,101
9,865
Finansal Borçlar / Borrowings
27,917
19,603
2,853
Ticari Borçlar / Accounts Payable
16,956
15,399
126
Uzun Vadeli Borçlar / Long-term Liabilities
46,479
43,698
20,878
Öz Sermaye / Shareholders’ Equity
11,104
19,628
6,860
7,330
7,330
7,000
(12,332)
371
(1,901)
2000
1999
1998
561,179
156,696
23,246
(533,744)
(147,567)
(21,754)
27,434
9,129
1,492
(21,419)
(6,001)
(1,145)
Di¤er Faaliyet Gelirleri / Other Operating Income
6,414
5,855
2,528
Di¤er Faaliyet Giderleri / Other Operating Expenses
(906)
(786)
(82)
152
10,215
18
(12,332)
371
(1,901)
Dönen Varl›klar / Current Assets
Finansal Duran Varl›klar / Financial Investments
Aktif Toplam› / Total Assets
K›sa Vadeli Borçlar / Short-term Liabilities
Sermaye / Share Capital
Net Dönem Kar› / Net Profit for the Year
Gelir Tablosu Özeti / Summary Income Statement Accounts
(milyar TL) / (TL billion)
Net Sat›fllar / Net Sales
Sat›lan Mal›n Maliyeti / Cost of Goods Sold
Brüt Sat›fl Kar›/Zarar› / Gross Margin
Faaliyet Giderleri / Operating Expenses
Ola¤anüstü Gelirler / Extraordinary Income
Net Dönem Kar› / Net Profit
04
Bilanço Da¤›l›m› 2000
Balance Sheet Composition 2000
Kaynaklar Toplam›
Total Liabilities and Shareholders' Equity
Varl›klar Toplam›
Total Assets
Menkul K›ymetler %2.49
Marketable Securities
Di¤er Uzun Vadeli Varl›klar %3.16
Other Long-term Assets
Öz Sermaye %10.55
Shareholders' Equity
K›sa Vadeli Ticari Alacaklar %17.11
Accounts Receivable
Stoklar %9.52
Inventories
Maddi Duran Varl›klar %59.54
Fixed Assets
Di¤er Dönen Varl›klar %8.18
Other Current Assets
Finansal Borçlar %26.53
Borrowings
Uzun Vadeli Borçlar %44.17
Long-term Liabilities
Ticari Borçlar %16.11
Accounts Payable
Di¤er K›sa Vadeli Borçlar %2.64
Other Short-term Liabilities
Net Dönem Kar›
Net Profit
6,860
98 99 00
98 99 00
98 99 00
98 99 00
98 99 00
milyar TL
TL billion
milyar TL
TL billion
milyar TL
TL billion
milyar TL
TL billion
milyar TL
TL billion
(12,332)
(1,901)
1,720
23,246
156,696
37,603
11,104
371
561,179
Net Sat›fllar
Net Sales
19,628
102,426
Öz Sermaye
Shareholders’
Equity
105,234
Aktif Toplam›
Total Assets
39,254
37,629
Dönen Varl›klar
Current Assets
05
yönetim kurulu baflkan›’n›n
turcas uzun y›llardan
beri müflterilerine
kaliteli ürünler sunma
sorumlulu¤unu
cha›rman’s message
tafl›maktad›r.
06
De¤erli Ortaklar›m›z, Bayilerimiz ve Müflterilerimiz,
Dear Shareholders, Dealers and Customers,
2000 y›l› Türkiye’de birçok de¤iflikli¤in yafland›¤›
bir dönem olmufltur. Türkiye y›la Avrupa Birli¤i üye
adayl›¤›na h›zl› bir flekilde kabul edilmesi nedeniyle
büyük umutlarla, ekonominin güçlenece¤i yolunda
büyük beklentilerle ve hükümetin uygulamaya
koydu¤u mali ve para politikalar›n›n enflasyon
oran›nda büyük ölçüde düflüfl sa¤layaca¤›
konusunda yurtiçi ve yurtd›fl› ifl dünyas›n›n ciddi
inanc› ile bafllam›flt›. 2000 y›l› sonuçlar›n›n nihai
analizi için belki birkaç ay daha beklemek zorunda
kalaca¤›z, ama özet olarak, Türkiye’nin Avrupa
Birli¤i adayl›¤›na kabul edilmesinin 2000 y›l›
bafl›nda çok yüksek beklentilere yol açt›¤›, ancak
ekonominin y›l boyunca oldukça sa¤lam oldu¤u,
yine de hepimizin bildi¤i gibi, Aral›k ay›nda para
arz›nda meydana gelen s›k›fl›kl›¤›n çok olumsuz
etkiler yapt›¤› ve 2001 y›l›nda olas› bir ekonomik
yavafllama için ortam yaratt›¤›, hükümetin mali ve
para konular›nda uygulad›¤› politikalar›n
enflasyonda önemli bir düflüfle yol açmad›¤›
düflüncesindeyim. Hükümetin sa¤lam mali ve para
politikalar›na ba¤l› kalmaya devam etmesi ile
süregelen h›zl› özellefltirme faaliyetleri, Türkiye’ye
yat›r›m yapma konusu ile ilgilenen uluslararas›
toplumu etkileyecek kilit faktörlerdir.
The year 2000 was one of many changes in
Turkey. The year began with high hopes for rapid
acceptance into the European Union, with great
expectations that the economy would be strong
and with a firm belief by many in the business
community both local and abroad that the
government's fiscal and monetary policies would
lead to a significant decrease in inflation. The final
analysis of the year 2000 results may well not be
fully known for several months yet but in summary,
I believe that Turkey’s acceptance as a candidate
to the European Union has elevated expectations
in early 2000. The economy was quite robust
during the year, but as we are all aware, a
significant problem in the money supply in
December was very disruptive and set the stage
for a possible economic slowdown in 2001. The
governmental polices on fiscal and monetary
matters did however result in a significant
reduction in inflation for the year. The government’s
on-going commitment to sound fiscal and
monetary policy as well as continued rapid
privatization will be keys the international
community will look to as investment in Turkey is
considered.
1999 y›l›nda Turcas Petrolcülük flirketinin Tabafl
Petrolcülük ile birleflerek Turcas Petrol A.fi. adl›
flirketin oluflmas› ile gelece¤e uzanan yol
flekillendirilmifltir. Bu birleflme, hem vergi
kazançlar›n›n optimum düzeye getirilmesi, hem de
faaliyet sonuçlar›na iliflkin daha net bir mali portre
elde edilmesi için gerçeklefltirilmifltir. Ortaklar›m›za
daha iyi bilgi verebilmek amac› ile bu y›l elde
edilen sonuçlar› sadece Türk Muhasebe ‹lkeleri’ne
uygun haz›rlamakla kalmad›k, finansal tablolar›m›z›
ayn› zamanda Uluslararas› Muhasebe
Standartlar›’na uygun olarak da düzenledik. Bu y›la
In 1999 Turcas Petrol paved the way for the future
through the merger of Turcas Petrolcülük into
Tabafl Petrolcülük with the surviving entity being
renamed Turcas Petrol A.fi. This merger was
completed to optimize tax benefits and to provide
a clearer financial picture of results. This year, in
an effort to continue to provide our investors with
better information, we have prepared our results
not only in accordance with Turkish accounting
regulations as always, but we also include financial
results prepared in accordance with International
Accounting Standards (IAS). These results, which
mesaj›
turcas has a long-stand›ng comm›tment to del›ver›ng
qual›ty products to ›ts customers.
ait faaliyet raporunda yer alan söz konusu
sonuçlar, ortaklar›m›z›n Turcas Petrol
faaliyetlerinden elde edilen sonuçlar› daha iyi
anlayabilmeleri için eklenmifltir. Hesaplar
aras›ndaki temek fark, birleflme ile ilgili artan
amortisman›n ifllenifl flekli ile kur de¤iflikliklerinin
etkisidir. Bu hesaplarla birlikte di¤er farklar bu
faaliyet raporuna ekli Uluslararas› Muhasebe
Standartlar›’na uygun Mali Tablo Notlar›’nda detayl›
olarak aç›klanm›flt›r.
are included in this annual report, are being
provided to assist our shareholders in better
understanding the results of Turcas operations.
The key difference in the accounts is the handling
of the Amortization of Excess Account related to
the merger and the impact of currency rate
changes. These items, and the other differences,
are explained in more detail in the footnotes to the
IAS Financial Statements at the back of this report.
Turkish Economy
Türk Ekonomisi
Mevcut son tahminlere göre Türk ekonomisi 2000
y›l›nda %5.7 büyüme gerçeklefltirmifltir. Kesin
sonuçlar elde edildi¤inde bu rakam geçerlili¤ini
korursa, büyümede y›l hedeflerine yak›n bir sonuç
elde edilmifl olacakt›r. Ekonomideki bu büyüme
oran›na ek olarak, enflasyon 2000 y›l›nda son
y›llar›n en düflük rekor seviyesine inerek, TEFE
baz›nda %32, TÜFE baz›nda ise %39.7 olarak
gerçekleflmifltir. Bu sonuçlar, %60’›n üstünde
enflasyonla yaflanan uzun y›llardan sonra önemli
bir baflar›d›r. Y›l içinde yaflanan bir di¤er önemli
olay ise Petrol Ofisi’nin özellefltirilmesi olmufltur.
Ülkede yaflanan bu olumlu geliflme, ne yaz›k ki
benzinde bir talep art›fl›na yol açmam›flt›r.
Gerçekte ülkenin toplam benzin talebi 1999 y›l›
seviyesinin %19 alt›na düflmüfltür. Turcas Petrol’ün
yaflad›¤› düflüfl, bu oran›n biraz daha alt›nda, %17
olarak gerçekleflmifltir. Sektör ortalamas›n›n
üstünde bir sonuç elde etmek rahatlat›c› ise de,
2000 y›l› benzin sat›fl hacmi aç›s›ndan bize hayal
k›r›kl›¤› yaflatm›flt›r. Toplam benzin talebindeki
düflüflün ana nedeni oto LPG kullan›m›n›n artmas›
olmufltur. Hükümet y›l boyunca oto LPG için önemli
oranda sübvansiyon sa¤lam›fl, ancak 2001 y›l›
bafl›nda bu sübvansiyon uygulamas›na son
vermifltir.
‹stikrarl› Sonuçlar
Yaflanan bu hayal k›r›kl›¤›na ra¤men 2000 y›l›
Turcas Petrol için birçok aç›dan iyi bir dönem
olmufltur. 1 Nisan 2000 tarihinde Turcas Petrol
hisseleri, ‹MKB Bölgesel Pazarlar’dan ‹MKB Ulusal
Pazar’a geçmifltir. Bu aflama ile Turcas Petrolcülük
A.fi.’nin Tabafl Petrolcülük A.fi. ile birlefltirilmesi ve
yeni oluflan flirketin Turcas Petrol A.fi. ad› alt›nda
faaliyetlerine devam etmesi yolunda 1999 y›l›nda
ald›¤›m›z karar›n uygulanmas› tamamlanm›flt›r.
According to the latest estimates, the Turkish
economy grew by 5.7% in 2000. If this figure holds
up when the final results are available, growth will
be close to the annual targets. In addition to this
growth in the economy, inflation in Turkey for the
year 2000 was at a record low of 32% for WPI and
39.7% for CPI. This is a remarkable achievement
after having had inflation in excess of 60% for
many years in the past. Another key event was the
successful privatization of Petrol Ofisi.
Regrettably this good fortune for the country did
not translate into increased demand for gasoline.
In fact, the overall demand for gasoline declined
by over 19% in Turkey from 1999 levels. Turcas
Petrol did slightly better than this with reductions of
only 17%. While it is comforting to note that we
faired better than the industry average, it was
nonetheless a disappointing year in terms of
absolute gasoline volumes. The majority portion of
this decrease in demand for gasoline was due to a
switch to auto LPG, which enjoyed significant
subsidies from the government during the year.
This subsidy is being phased out in early 2001.
Consistent Results
Despite this disappointment, Turcas Petrol did
have a successful year in many regards. On April
1, 2000 Turcas Petrol shares were moved from the
Regional Markets at the Istanbul Stock Exchange
to the National Market. This effectively completed
the plans we put in place in 1999 when the
decision to merge Turcas Petrolcülük A.fi. into
Tabafl Petrolcülük A.fi. and rename the merged
company Turcas Petrol A.fi.
While the national demand for gasoline decreased
by 19% in 2000, the market share of Turcas Petrol
increased by 0.4%. Turcas' market share in auto-
07
yönetim kurulu baflkan›’n›n mesaj› (devam)
Toplam benzin talebi 2000 y›l›nda %19 düflmesine
ra¤men Turcas Petrol’ün pazar pay› %0.4 artm›flt›r.
fiirket’in oto LPG pazar pay› geçen y›l ile ayn›
düzeyde kalm›fl, toplam benzin ve benzin ikame
ürünleri sat›fllar› 2000 y›l›nda biraz artm›flt›r.
2000 y›l›nda toplam dizel talebi %9 oran›nda
artm›flt›r. Önemli bir ticari sat›fl hacmine sahip
olmayan ve s›n›r ticareti yapmayan Turcas Petrol,
y›l içinde dizel sat›fllar›ndan %3 oran›nda bir pay
alm›flt›r. Turcas Petrol ticari piyasalardaki f›rsatlar›
sürekli izlemekte ve kar beklentisi oldu¤u takdirde
bu piyasalara girmek üzere haz›rlanmaktad›r.
Tamamen benzin piyasas›ndaki daralmaya ba¤l›
olarak beyaz ürün sat›fl›m›z 1999 rakamlar›na göre
%6 oran›nda azalm›flt›r.
Yönetim Kurulu’nda Görev De¤iflikli¤i
2000 y›l› içinde, Turcas Yönetim Kurulu’na 1996
y›l›nda kat›lm›fl olan Yönetim Kurulu üyesi David O.
Kem istifa etmifl ve yerine Rafineri & Pazarlama
Avrupa - Conoco Baflkan› William R. (Rick) Hamm
atanm›flt›r. Conoco Rafineri ve Pazarlama
faaliyetlerinde 30 y›ldan fazla deneyime sahip olan
Bay Hamm, Conoco’nun global mükemmeliyetinin
ve tecrübesinin Turcas Yönetim Kurulu’nda devam
etmesini temin edecektir.
LPG remained consistent with last year and our
sales for gasoline and gasoline substitutes actually
grew slightly in 2000.
The national demand for diesel grew by 9% in
2000. Turcas, which does not have a significant
commercial sales position nor participates in the
border trade, saw growth in diesel sales up 3% in
2000. Turcas does continually monitor
opportunities in the commercial markets and is
poised to enter this market if and when profitable
opportunities are available. Overall sales of white
products decreased by 6% from 1999. This is due
entirely to the decreased market for gasoline.
Change on the Board of Directors
In 2000, Director David O. Kem, resigned from the
Board. Mr. Kem, who joined the Board of Turcas in
1996, was replaced by William R. (Rick) Hamm,
President of Refining & Marketing Europe Conoco. Mr. Hamm, who has more that 30 years
experience with Conoco Refining and Marketing
operations ensures the continuation on the Turcas
Board of the impact of Conoco's worldwide
experience and expertise.
Commitment to Quality, Safety and the
Environment
Kalite, Güvenlik ve Çevre Sorumlulu¤u
Turcas uzun y›llardan beri müflterilerine kaliteli
ürünler sunma sorumlulu¤unu tafl›maktad›r.
Piyasan›n çok iyi bildi¤i bu sorumluluk, Yönetim
Kurulu’nun çok ciddi olarak ele ald›¤›
yükümlülüklerinden birisidir. Kalitesi düflük olan
veya adil bir flekilde vergilendirilmeyen ürünleri
müflterilerimize sunmama konusundaki
tutumumuzu sürdürece¤iz. Bu ba¤lamda hiçbir
flekilde "S›n›r Ticareti" faaliyetlerine kat›lm›yoruz. Bu
karar benzin sat›fllar›nda Turcas’›n pazar pay›n›
düflürmektedir, ancak istasyonlar›m›zda sadece en
kaliteli ürünleri sunma yükümlülü¤ümüzün de en
sa¤lam göstergesidir. Bunu temin etmek için
Turcas Petrol, istasyonlar› önceden bildirmeden
ziyaret eden ve müflteriye sunulan ürünün Turcas
kalitesine uygunlu¤unu kontrol eden bir Kalite
Kontrol Müfettiflleri ekibini kendi bünyesinde
oluflturmufltur.
2000 y›l›nda Turcas Petrol, titizlikle uygulad›¤›
güvenlik ilkesi do¤rultusunda, terminallerinden
hizmet alan tüm tankerlerin güvenli¤ini gözden
geçirmeye bafllam›flt›r. Herhangi bir ürün sat›fl›
yap›lmadan önce bu tankerlerin güvenlik
standartlar›m›za uygun olup olmad›klar›n›n kontrol
edilmesi gereklidir. Bu çal›flma, herhangi bir kaza
olas›l›¤› nedeniyle de¤il, sadece toplum güvenli¤i
08
Turcas Petrol has a long-standing commitment to
delivering quality products to our customers. This
commitment is recognized by the market and is
one that the Board of Directors takes very
seriously. We continue to oppose any product
being available to consumers that is of low quality
or has not been fairly taxed. To this end, we do not
participate in the "Border Trade" activity. This
decision has undoubtedly cost Turcas Petrol in
terms of market share in diesel sales but it has
also been seen by many as a firm indicator of our
commitment to deliver only top quality products at
our sites. To ensure this, Turcas Petrol has also
implemented a team of Quality Assurance
Specialists who visits our stations at unannounced
times and ensures that the product being offered
to the consumer is of the highest quality standards.
In 2000 and as a part of its ongoing commitment to
safety, Turcas Petrol initiated a safety review of all
tankers, which are served at our terminals. Tankers
were required to meet our standards before being
allowed to make a purchase of products. This
effort was undertaken not because of any
accident, which had occurred, but as a forwardlooking policy to address our responsibility to
public safety. In addition, Turcas Petrol hired a
cha›rman’s message (cont›nued)
konusunda tafl›d›¤›m›z sorumluluk gere¤i ileri
görüfllü politikam›z nedeniyle bafllat›lm›flt›r. Ayr›ca
yönetim kadrosunun bir üyesi olarak yeni bir
Güvenlik, Sa¤l›k ve Çevre Görevlisi istihdam
edilmifltir. Turcas Petrol, güvenlik ve çevre
konular›nda pazar lideri olmay› hedeflemektedir.
Üzerimize düflen görevleri sorumluluk sahibi ve
sayg›n bir flirket olarak yerine getirmenin yan›s›ra,
güvenlik ve çevre konular›na tam ba¤l›l›¤›n daha
yüksek verimlilik ve kar ile daha sa¤l›kl› ve daha iyi
motive olmufl bir iflgücü sa¤layaca¤›na
inanmaktay›z.
2000 y›l›nda Turcas I ile Turcas II denize indirildi.
Çift yüzeyli mükemmel bir teknoloji ürünü olan bu
iki tanker, Turcas Petrol’ün çevreye karfl›
sorumlulu¤unun iyi bir örne¤idir. Turcas Petrol ve
di¤er da¤›t›m flirketleri taraf›ndan petrol ürünlerinin
deniz yoluyla tafl›nmas›nda kullan›lacak Turcas I ve
II tankerleri, Türk denizlerinde çal›flan gemilerin
kalitesini yükseltmektedir.
Gelecek
Turcas Petrol’deki vizyonumuz Türkiye’de öncelikli
olarak tercih edilen bir petrol ürünleri da¤›t›m flirketi
olmakt›r. Kalite, adil piyasa koflullar›, güvenlik ve
çevreye karfl› sorumlulu¤umuz ile iyi belirlenmifl
yerlerde kurulu bayi istasyonlar› ve adil bir ifl orta¤›
olarak elde etti¤imiz sayg›nl›k, bu vizyonumuzu
gerçeklefltirmek için bizi uygun konuma
getirmektedir. Piyasada son derece yo¤un bir
rekabet oldu¤unun bilincindeyiz. Baflar›l› olabilmek
için gerekli personel, yönetim ve sayg›nl›¤a sahip
oldu¤umuzdan eminiz. Türkiye çap›nda stratejik
noktalarda yeni istasyonlar kurmak için önemli
kaynaklar ay›rmay› sürdürece¤iz ve 2001 y›l›nda
bayi a¤›m›z› karl›l›k ve sat›fl hacminin art›r›lmas›
amac›yla gelifltirmeye devam edece¤iz. Ek olarak,
tüm karl› ifl olanaklar›ndan yararlanabiliyor olmak
için önümüzdeki ticari f›rsatlar› yeniden
de¤erlendirece¤iz.
Yönetim Kurulu, Turcas Petrol’ü yeni milenyuma
karl› ve sorumluluklar›n›n bilinci içinde, Türkiye ve
yak›n bölgesindeki tüketicilere yüksek kalitede
rafine edilmifl petrol ürünlerini güvenli ve çevreye
dost bir flekilde sunan lider bir flirket olarak
tafl›maya azimlidir.
new Safety, Health, and Environment employee as
a part of the Management Team. Turcas Petrol is
committed to being a market leader in safety and
environment issues. In addition to fulfilling our
obligations as a responsible and respected
company, we firmly believe that full commitment to
these issues will provide us with higher productivity
and profits as well as a healthier and more
motivated workforce.
In 2000, the Turcas I and Turcas II vessels were
launched. These state-of-the-art double skinned
tankers are a good example of Turcas Petrol’s
commitment to the environment. At this time, it is
planned that the Turcas I and II will be utilized by
Turcas and other distribution companies to move
products in the coastal waters of Turkey thus
significantly upgrading the quality of vessels
operating in these waters.
The Future
Our vision at Turcas Petrol is to be the petroleum
products distribution company of choice in Turkey.
We believe our commitment to quality, fair market
conditions, safety and the environment as well as
our well placed selection of dealer sites and
reputation as a fair partner, position us well to
achieve this vision. We recognize the marketplace
is very competitive. We are confident we have the
staff, the management and the reputation to
succeed. We continue to allocate significant funds
to developing new sites in strategic locations
around Turkey, and in 2001, we will continue to
optimize our network aimed at increasing
profitability and station throughput. In addition, we
will take a fresh look at commercial opportunities to
make sure we take advantage of all profitable
opportunities.
The Board is committed to leading Turcas Petrol
forward into this new millennium as a profitable,
responsible leader in providing Turkey and the
region with high quality refined petroleum products
delivered to the consumer in a safe and
environmentally friendly manner.
Erdal Aksoy
Chairman
Erdal Aksoy
Yönetim Kurulu Baflkan›
09
yönetim kurulu
board of d›rectors
Erdal Aksoy
Yönetim Kurulu Baflkan›
Chairman
10
Kaya Baban
Alistair Clark
Y›lmaz Tecmen
Bülent Çorapç›
Rick Hamm
Yönetim Kurulu Baflkan
Yard›mc›s› ve Murahhas Üye
Vice Chairman and Executive
Member
Üye ve Genel Müdür
Member and General Manager
Üye
Member
Üye
Member
Üye
Member
üst yönetim
execut›ve management
Alistair Clark
Nezihi Tümer
Genel Müdür
General Manager
Genel Müdür Bafl Yard›mc›s› Genel Müdür Yard›mc›s› - Sat›fl
Operasyon ve Lojistik
ve Pazarlama
Senior Deputy General Manager - Assistant General Manager Operations & Logistics
Sales & Marketing
Varol Dereli
Douglas Taylor
Genel Müdür Yard›mc›s› - Finans
Assistant General Manager Finance
Aflk›n Akman
Aynur Göksel
Ayfle Oral
Bahri Yüre¤ir
Cabbar Y›lmaz
Pazarlama ‹letiflimleri ve
Planlama Müdürü
Marketing Communications and
Planning Manager
Kredi Kontrol Müdürü
Credit Control Manager
Muhasebe Müdürü
Accounting Manager
‹kmal Müdürü
Supply Manager
Sat›fl Servisleri Müdürü
Sales Services Manager
Ece Metin
Fatma Aytaç
Hülya Dinçer
Kemal Günay
Latif Aral
Koordinatörü
Human Resources
Co-ordinator
Bilgi Sistemleri Müdürü
IM Manager
Emniyet, Sa¤l›k ve
Çevre Koordinatörü
Safety, Health and
Environment Co-ordinator
Operasyon Müdürü
Operations Manager
Ticari Sat›fllar Müdürü
Commercial Sales Manager
Nadir Çelik
O¤uz Gönenç
Sadettin ‹mrek
Süleyman Asutay
Perakende Sat›fl Müdürü
Retail Sales Manager
Sat›nalma Müdürü
Purchasing Manager
Hukuk Müflaviri
Legal Advisor
Finans Müdürü
Treasury Manager
11
sermaye ve ortakl›k
yap›s›
cap›tal and shareholder
structure
turcas petrol’deki vizyonumuz türkiye’de öncelikli olarak
our v›s›on at turcas ›s to be the petroleum products
tercih edilen bir petrol ürünleri da¤›t›m flirketi olmakt›r.
d›str›but›on company of cho›ce ›n turkey.
Sermaye ve Ortakl›k Yap›s›
2000 mali y›l›nda fiirket’in sermaye yap›s›nda bir de¤ifliklik yap›lmam›flt›r. Turcas Pertol’ün sermayesi her
biri 1,000 TL nominal de¤ere sahip 7,330,233,183 hisseye bölünmüfltür. Bu hisseler A, B ve C olmak üzere
üç gruba ayr›lm›flt›r.
C Grubu hisselerin tümü, Turcas Petrol’ün %27.64’üne sahip yabanc› ortak Conoco’ya aittir.
Turcas Petrol’ün 7,330,233,183,000 TL olan sermayesinin bileflimi afla¤›daki gibidir:
1) A GRUBU
A Grubu
2) B GRUBU
B Grubu
3) C GRUBU
C Grubu
Toplam
13. Tertip nama yaz›l›
Adet
7,330,083,183
Tutar
7,330,083,183,000
112,500
112,500,000
37,500
7,330,233,183
37,500,000
7,330,233,183,000
Capital and Shareholder Structure
During fiscal year 2000, there were no changes in the Company’s capital structure. Turcas Petrol’s
capital consists of 7,330,233,183 shares with a nominal value of TL 1,000 each. These shares have
been divided into three groups: A, B and C.
All Group C shares belong to Conoco Inc., the foreign partner, with a 27.64% interest in Turcas
Petrol.
The capital structure (TL 7,330,233,183,000) of Turcas Petrol breaks down as follows:
1) GROUP A
Name written shares in
2) GROUP B
3) GROUP C
Total Shares
13th Series and Group A
Number of Shares
7,330,083,183
Value
7,330,083,183,000
13th Series and Group B
112,500
112,500,000
13th Series and Group C
37,500
7,330,233,183
37,500,000
7,330,233,183,000
13
ekonomik geliflmelere bak›fl
Zaman zaman yaflanan olumsuzluklara ra¤men
Türk ekonomisi son y›llarda istikrarl› bir büyüme
göstermifltir. Enflasyonu 2002 y›l› sonunda tek
haneli rakamlara düflürmeyi hedefleyen IMF
destekli ekonomik istikrar program› y›l bafl›nda
uygulanmaya bafllam›flt›r. Bu üç y›ll›k program›n
temel unsurlar› s›k› para politikalar›na dayand›r›lm›fl
ve tedavüldeki para miktar›n› ihracat girdisi olarak
elde edilen döviz miktar›na ba¤l› hale getirmifltir.
Türk Liras›n›n de¤eri 1 ABD Dolar› + 0.77 Euro
sepetine sabitlenmifl, böylelikle Haziran 2001
tarihine kadar döviz kurlar› önceden tespit
edilmifltir. Program, y›l sonunda enflasyonu toptan
eflya fiyatlar› baz›nda %20 ve tüketici fiyatlar›
baz›nda %25 seviyesine indirmeyi hedeflemifltir.
IMF ve Dünya Bankas› programa tam destek
verdiklerini aç›klam›fllard›r. Program›n uygulamaya
konmas›ndan k›sa bir süre sonra faiz oranlar›nda
ani düflüfller gözlenmifltir. Ancak, ihracatta
durgunluk yaflan›rken ithalat›n h›zla yükselmesi
sonucu cari hesap aç›¤› giderek artm›flt›r.
Yaklaflmakta olan bir likidite krizinin ilk iflaretlerinin
görülmeye baflland›¤› A¤ustos ay›na kadar
program baflar›l› bir flekilde uygulanm›flt›r.
Yükselen petrol fiyatlar›, ABD Dolar›n›n Euro
karfl›s›nda de¤er kazanmas› ve baflar›s›z kalan
özellefltirme çabalar› programdan beklenen
sonuçlar›n al›nmas›n› engellemifl ve iyileflmekte
olan ekonomik dengeleri olumsuz bir flekilde
etkilemifltir.
Likidite s›k›nt›s› nedeniyle mali piyasalarda
gerginlik artarken, baz› yabanc› ve Türk bankalar
faiz oranlar›n›n artaca¤› endiflesi ile portföylerinde
bulunan hazine bonolar›n› satmaya bafllad›lar. Bu
sat›fllar likidite krizini tetikledi ve gecelik faiz
oranlar› %1,000 gibi rekor seviyelere yükseldi.
Dövize olan talep nedeniyle, Merkez Bankas›’n›n
rezervleri 6 milyar ABD Dolar› kadar azald›.
Portföyünde çok fazla hazine bonosu bulunan
büyük bir banka taahhütlerini yerine getiremez
duruma düfltü ve Merkez Bankas› Tasarruf
Mevduat› Sigorta Fonu’na devredildi. Piyasalarda
kaybolan güven ortam› ancak IMF’nin Türkiye’ye 6
milyar ABD Dolar› rezerv kolayl›¤› kredisi
verece¤ini aç›klamas› ile yeniden olufltu. IMF
kredisinin al›nmas› için Türk hükümetinin imzalad›¤›
niyet mektubu, Türk Hava Yollar› ve Türk
Telekom’un acilen özellefltirilmesini zorunlu hale
getiriyordu. Kas›m krizi esnas›nda Türk
ekonomisinin yaflad›¤› s›k›nt›lardan sonra yap›sal
14
enflasyonu 2002 y›l› sonunda tek haneli rakamlara düflürmeyi
the ›mf-backed econom›c stab›l›zat›on program that a›med to
hedefleyen ›mf destekli ekonomik istikrar program› y›l bafl›nda
reduce ›nflat›on to one-d›g›t f›gures at the end of 2002,
uygulanmaya bafllam›flt›r.
started at the beg›nn›ng of the year.
econom›c overv›ew
Despite some dramatic swings, the Turkish
economy has shown a underlying growth pattern
over a number of years. The IMF-backed economic
stabilization program that aimed to reduce inflation
to one-digit figures at the end of 2002, started at
the beginning of the year. The fundamentals of this
three-year program relied on strict monetary
controls and the amount of currency in circulation
was made a function of incoming foreign currency
from exports. The value of the Turkish lira was
fixed against a basket of US$ 1 + Euro 0.77 which
meant pre-determined exchange rates until the
end of June 2001. The program targeted an
inflation rate of 20% at the end of 2000 based on
wholesale prices and 25% on consumer prices.
Both the IMF and the World Bank declared full
support to the program and soon after
implementation, a sudden drop in interest rates
was observed. However, imports soared while
exports stagnated, giving way to an increased
current account deficit.
The program worked well until August, when early
warning signals of a liquidity crisis were received.
Increasing oil prices, US dollar appreciating
against Euro and unsuccessful privatization efforts
held back the expected outcomes of the program
and affected the improving economic balances
negatively.
With increasing tension in financial markets arising
from liquidity shortage, some international and
Turkish banks started to sell their government
securities fearing that interest rates might go up.
These sell-offs triggered a liquidity crisis and
overnight interest rates rose to record levels of
about 1,000%. Within days the Central Bank’s
reserves decreased by some US$ 6 billion. A
major bank holding excessive amounts of
government securities, defaulted on commitments
and was taken over by the Central Bank’s Savings
Deposits Insurance Fund. Confidence was
restored only when IMF announced a US$ 6 billion
reserve facility to Turkey. The letter of intent,
signed by the Turkish government against this IMF
loan, mandated the immediate privatization of
Turkish Airlines and Turk Telecom. The importance
of implementing the structural reforms became
more evident following the difficult times the
Turkish economy had to pass through during the
November crisis.
15
ekonomik geliflmelere bak›fl (devam)
econom›c overv›ew (cont›nued)
reformlar›n bir an önce yap›lmas›n›n önemi daha
da artm›fl bulunmaktad›r.
Y›l sonunda faiz oranlar› düflmesine ra¤men yine
de kriz öncesi seviyenin üstünde kald›lar.
Enflasyon ve döviz kuru kontrol alt›na al›nd› ve
program›n ilk aç›kland›¤› hali ile uygulanmas›na
devam edilece¤i duyuruldu. 2000 y›l›nda Türk
ekonomisi gücünü bir kez daha kan›tlam›flt›r. 1999
y›l›nda GSMH’de yaflanan %6.4 küçülmeden sonra
2000 y›l›nda, GSMH’nin %5 dolay›nda büyüme
gösterdi¤i tahmin edilmektedir.
2000 y›l›nda toplam ithalat hacmi 54.2 milyar ABD
Dolar› seviyesine yükselirken ihracatta durgunluk
yaflanm›fl ve 27.5 milyar ABD Dolar› seviyesinde
kalm›flt›r.
Ekonomik sorunlar›n temelinde yatan nedenlerden
biri olan iç borç stoku 2000 y›l›nda artmaya devam
etmifltir. 2000 y›l› sonunda toplam iç borç 36.4
katrilyon TL, d›fl borç ise 114.3 milyar ABD Dolar›
seviyesine yükselmifltir. Bütçe aç›¤›n›n 12.8
katrilyon TL seviyesinde gerçekleflmesi, kamu
sektörü borçlanma gereksinimini daha da
art›rm›flt›r.
Toptan eflya fiyat enflasyonu %32.7 tüketici fiyat
enflasyonu ise %39 seviyesinde y›l› tamamlam›flt›r.
Her iki oran da program hedeflerinin üstünde
gerçekleflmifltir.
16
By the end of the year, interest rates were brought
down, but to levels higher than the pre-crisis times,
inflation and FX rates were under control and the
program continued as originally announced.
Following the 6.4% negative GNP growth in 1999,
it is expected that the GNP growth rate will be
around 5% for 2000.
Imports soared to US$ 54.2 billion in 2000 while
exports stagnated and stood at only US$ 27.5
billion at the end of the year.
The internal debt stock of Turkey, a significant
contributor to economic difficulties, continued to
accumulate during 2000. At the end of 2000, total
internal debt reached TL 36.4 quadrillion and
foreign debt US$ 114.3 billion. Budget deficit rose
to TL 12.8 quadrillion, further contributing to
increased public sector borrowing requirement.
Inflation, measured in wholesale prices, was
realized at 32.7% and 39% in consumer prices.
Both rates were above the originally announced
targets under the program.
faaliyetler
rev›ew of operat›ons
Dolar› olan varil fiyat›, Eylül 2000 itibariyle 40
ABD Dolar›na ve y›l sonu itibariyle de 29 ABD
Dolar›na yükselmifltir. Bu art›fllar Türk ve
dünya ekonomisine a¤›r yükler getirmifltir.
Nov
Dec
Oct
Sep
Jul
Aug
Jun
Apr
May
Mar
Feb
99
Jan
10
98
15
10
97
15
Ara
20
Eki
25
20
Kas
30
25
Eyl
30
A¤u
35
Haz
40
35
Tem
40
Nis
45
May
45
Mar
World crude oil prices in 2000 ($/barrel)
fiub
2000 y›l› dünya ham petrol fiyatlar› ($/varil)
Oca
The 1999 climb in global crude oil prices
continued into 2000. At the beginning of the
year, the price per barrel of crude oil was
99
1999 y›l›nda yaflanan dünya ham petrol
fiyatlar›ndaki art›fl 2000 y›l›nda da devam
etmifltir. 1999 y›l› bafl›nda ortalama 15 ABD
98
Petroleum Industry in Turkey
97
Türkiye’de Petrol Sektörü
around US$ 15 but peaked in 2000 at US$ 40
during September and ending up the year at
US$ 29. This increase brought a significant
burden to Turkish and global economies.
17
dünya
pazarlar›nda
petrol
ürünleri
fiyatlar›n›n
iki misli
yükselmesi
karfl›s›nda
hükümet,
enflasyonla
mücadele
program›n›
desteklemek
ve
tüketicileri
korumak
amac› ile
akaryak›t
tüketim
vergisi’nde
önemli
indirimler
yapm›flt›r.
18
faaliyetler (devam)
rev›ew of operat›ons (cont›nued)
›n an effort to support the ant›-›nflat›on program and
to protect the turk›sh consumers, the government
made s›gn›f›cant reduct›ons ›n fuel consumpt›on tax
to compensate for the doubl›ng of the worldw›de
pr›ces of petroleum products.
Dec
Oct
Nov
Sep
Jul
Aug
Jun
Apr
May
Mar
Ara
500
Eki
525
500
Kas
525
Eyl
550
A¤u
575
550
Haz
600
575
Tem
625
600
Nis
625
May
650
Mar
675
650
fiub
700
675
Oca
700
Jan
The changes in the exchange rate of the US dollar
(TL/$)
Feb
Amerikan Dolar›’ndaki fiyat hareketleri
(TL/$)
Dünya pazarlar›nda petrol ürünleri fiyatlar›n›n
iki misli yükselmesi karfl›s›nda hükümet,
enflasyonla mücadele program›n›
desteklemek ve tüketicileri korumak amac› ile
Akaryak›t Tüketim Vergisi’nde önemli
indirimler yapm›flt›r.
In an effort to support the anti-inflation
program and to protect the Turkish
consumers, the government made significant
reductions in Fuel Consumption Tax to
compensate for the doubling of the worldwide
prices of petroleum products.
Y›l›n son çeyre¤inde ise hükümet LPG’ye
tan›nan sübvansiyonlar› azaltmak için birtak›m
önlemler ald›. Bu önlemlerin amac›, vergi
gelirinde önemli bir düflüfle ve benzin
sat›fllar›ndaki azalmaya neden olan oto LPG
kullan›m›n› kontrol alt›na alabilmekti.
In the last quarter of the year, the government
introduced measures to reduce the even
more significant subsidies being enjoyed by
LPG. This was aimed at controlling the
dramatic increase in automotive LPG at the
expense of gasoline, which had significantly
reduced the government’s tax income.
Y›l›n son aylar›nda yaflanan ekonomik
durgunlu¤a ra¤men otomotiv sanayi verimli
bir dönem yaflam›fl ve büyümesini
sürdürmüfltür. Trafi¤e ç›kan binek oto say›s›
4.6 milyona, ticari araç say›s› ise 1.6 milyona
ulaflm›fl ve s›ras›yla, %14 ve %15 art›fllar
yaflanm›flt›r.
Despite the economic stagnation, which
prevailed during the last months of the year,
the automotive industry enjoyed a fruitful
period and continued its growth. The number
of vehicles on road reached 4.6 million
passenger cars and 1.6 million commercial
vehicles, by 14% and 15% respectively.
Petrol Ürünleri
Petroleum Products
Y›l içinde faaliyette olan 12 akaryak›t da¤›t›m
flirketi taraf›ndan 15.1 milyon metre küp
beyaz ürün ve 5.8 milyon ton siyah ürün sat›fl›
gerçeklefltirilmifltir.
Benzin
LPG talebindeki art›fla ba¤l› olarak Türkiye
genelinde toplam benzin talebinin 5.9 milyon
metre küp seviyesinden 4.7 milyon metre küp
seviyesine düflmesine ra¤men, Turcas Petrol
izledi¤i pratik sat›fl politikalar› ve yapt›¤›
yat›r›mlar sonucunda pazar pay›n› %11.7’den
A total of 15.1 million cubic meters of white
product and 5.8 million tonnes of black
product were sold in Turkey during the year
by 12 petroleum distribution companies.
Gasoline
While total gasoline demand in Turkey
decreased from 5.9 million cubic meters
down to 4.7 million cubic meters because of
the increase in LPG demand, Turcas Petrol
attained a sales volume of 570,000 cubic
19
faaliyetler (devam)
1999 y›l›nda 811,000 metre küp olan
dizel sat›fl hacmini 2000 y›l›nda
837,000 metre küpe ç›karan turcas
petrol %8.1 oran›nda bir pazar pay›na
sahiptir.
Turcas
12.1%
Turcas
8.1%
benzin/gasoline - 2000
Toplam benzin+oto LPG tüketimi - m3
dizel/diesel - 2000
Binek otomobil park› - bin adet
8,000,000
5,000
4,500
7,000,000
Total gasoline+auto-LPG
consumption (cubic meter)
Number of passenger cars on road
(000 units)
8,000,000
5,000
4,500
7,000,000
4,000
6,000,000
3,500
5,000,000
3,000
4,000,000
2,500
2,000
3,000,000
1,500
2,000,000
4,000
6,000,000
3,500
5,000,000
3,000
4,000,000
2,500
2,000
3,000,000
1,500
2,000,000
1,000
1,000,000
5,000
87 88 89 90 91 92 93 94 95 96 97 98 99 2000
%12.1’e yükselterek, toplam 570,000 metre
küp sat›fl hacmine ulaflm›flt›r.
Dizel
Dizel ithalat›na uygulanan s›k› denetim
sonucunda sektörde yaflanan haks›z
rekabetin yaratt›¤› olumsuz etkiler azalm›fl
ancak tamamen yok olmam›flt›r. Bunun
sonucunda, ülke çap›nda toplam dizel talebi
10.3 milyon metre küp düzeyine ç›km›flt›r.
1999 y›l›nda 811,000 metre küp olan dizel
sat›fl hacmini 2000 y›l›nda 837,000 metre
küpe ç›karan Turcas Petrol %8.1 oran›nda bir
pazar pay›na sahiptir.
20
1,000
1,000,000
5,000
87 88 89 90 91 92 93 94 95 96 97 98 99 2000
meters, increasing its market share from
11.7% up to 12.1%, as result of practical
sales policies pursued and investments
made.
Diesel
Stricter supervision was implemented for the
import of diesel, reducing but not eliminating
the adverse effects of the unfair competition
in the sector. Consequently, total diesel
demand in the country reached 10.3 million
cubic meters. Turcas Petrol increased its
diesel sales volume to 837,000 cubic meters
in 2000 from 811,000 cubic meters in 1999,
while its market share stood at 8.1%.
turcas petrol ›ncreased ›ts d›esel sales volume to 837,000
cub›c meters ›n 2000 from 811,000 cub›c meters ›n 1999,
wh›le ›ts market share stood at 8.1%.
Toplam dizel tüketimi - m3
Ticari araç park› - bin adet
Total diesel consumption (cubic meters)
1,800
12,000,000
Number of commercial vehicles on road
(000 units)
1,800
12,000,000
1,600
10,000,000
1,600
10,000,000
1,400
1,200
8,000,000
1,400
1,200
8,000,000
1,000
6,000,000
800
600
4,000,000
1,000
6,000,000
800
600
4,000,000
400
2,000,000
200
-
-
87 88 89 90 91 92 93 94 95 96 97 98 99 2000
400
2,000,000
200
-
-
87 88 89 90 91 92 93 94 95 96 97 98 99 2000
LPG
Toplam oto LPG pazar› 1999 y›l›nda 650,000
metre küpten 2000 y›l›nda 2,250,000 metre
küpe ulaflarak bir büyüme kaydetmifltir.
‹pragaz’la kurulan baflar›l› stratejik ortakl›k
sayesinde Türkpetrol’ün oto LPG sat›fl›
215,000 metre küp seviyesine yükselmifltir.
LPG
The total auto-LPG market grew dramatically
from 650,000 cubic meters in 1999 to
2,250,000 cubic meters in the year 2000. As a
result of the successful strategic partnership
with ‹pragaz, the auto-LPG sales at Türkpetrol
stations increased to 215,000 cubic meters.
Ürün Kalitesi ve Pazar Pay›
Product Quality and Market Share
Normal ürün kalite kontrol prosedürlerine tabi
olmaks›z›n ve ayr›cal›kl› (özel) vergi oranlar›
uygulamas› alt›nda veya tamamen vergi d›fl›
olarak Türkiye’ye önemli miktarlarda petrol
ürünleri girmektedir.
Significant volumes of petroleum products
are entering Turkey without being subject to
normal product quality control procedures,
and either at preferential tax rates, or
bypassing the tax collection system
altogether.
Bu konuda kesin veriler mevcut olmamas›na
ra¤men, geçen y›l içinde ülkeye bu yolla
giren beyaz ürünlerin 2,000,000 metre küp ve
siyah ürünlerin de 1,500,000 ton üzerinde
oldu¤u tahmin edilmektedir. Bu faaliyetler
petrol ürünleri da¤›t›m flirketlerinin
sayg›nl›¤›na zarar vermekte, adil rekabet
ortam›n› ciddi bir flekilde istismar etmekte ve
toplam pazar tüketimine yönelik
güvenilmeyen istatistikler ortaya
ç›karmaktad›r.
Although, obviously, precise figures are not
available, it is estimated that the volumes
associated with these activities may have
been in excess of 2,000,000 cubic meters of
white oil and of 1,500,000 tonnes of black oil
during the year. This activity damages the
reputation of the whole petroleum products
distribution sector, severely restricts fair
competition and produces unreliable total
market consumption statistics.
Turcas Petrol daha s›k› kontrol
mekanizmalar›n›n uygulanmas›n› ve pazarda
yaflanan dengesizliklerin ortadan
kald›r›lmas›n› desteklemeye devam edecektir.
Turcas Petrol continues to support the
implementation of more rigorous controls and
the elimination of this distortion from the
market.
21
faaliyetler (devam)
da¤›t›m a¤›n› gelifltirmek için 17 yeni istasyonun kurulmas› ile
toplam istasyon say›s› 729’a ç›kar›lm›flt›r.
22
to ›mprove the network, a total of 17 new stat›ons were added
br›ng›ng the total to 729.
Pazarlama Faaliyetleri
Marketing Activities
Turcas Petrol’ün pazarlama hedefi, ülke
çap›na yay›lm›fl bayi istasyonlar› arac›l›¤›yla
nihai tüketicilere en kaliteli petrol ürünlerinin
ulaflt›r›lmas›n› ve en mükemmel hizmetin
sunulmas›n› sa¤lamakt›r. Bu amaçla, Turcas
Petrol hedefine ulaflmas›n› sa¤layacak faaliyet
unsurlar›na odaklanmaya devam etmektedir.
The marketing goal of Turcas Petrol is to
ensure that the final consumer is offered top
quality petroleum products and outstanding
service through its nation-wide network of
dealer stations. Turcas Petrol therefore
continues its focus on those elements of the
business, which drive it towards the
achievement of this goal.
Da¤›t›m a¤›n› gelifltirmek için;
To improve the network:
• 17 yeni istasyonun kurulmas› ile toplam
istasyon say›s› 729’a ç›kar›lm›flt›r.
• A total of 17 new stations were added to the
network, bringing the total to 729.
• Titiz standartlar›m›za ve çal›flma fleklimize
uygun hareket eden 43 adet bayimizin
sözleflmeleri yenilenmifl veya süreleri
uzat›lm›flt›r.
• Contracts of 43 dealers who met our
exacting standards of operation were
renewed or extended.
• Tesis iyilefltirmesi için 120 istasyonda ufak
çapl› yat›r›mlar yap›lm›flt›r.
• Minor investments to improve facilities were
made at 120 stations.
• Tabafl markas› alt›nda faaliyet gösteren 25
istasyonun ad› daha çekici ve daha iyi
tan›nan bir marka olan Türkpetrol ile
de¤ifltirilmifltir.
• 25 stations were re-branded from Tabafl to
the highly attractive and better-recognized
Türkpetrol brand.
In respect of the products:
Ürünlerle ilgili olarak;
• Turcas 1992 y›l›ndan beri önde gelen
otomotiv üreticileri taraf›ndan önerilen "yeni
nesil" katk› maddelerini kullanarak temel
petrol ürünlerini gelifltirmektedir.
• Since 1992, Turcas has been improving the
base petroleum products with "new
generation" additives, which are
recommended by all the leading automotive
manufacturers.
01
faaliyetler (devam)
• 2000 y›l›nda organizasyon bünyesinde yeni
bir Kalite Kontrol Müfettiflleri ekibi
kurulmufltur. Bu gezici teknik uzmanlar ekibi
tesadüfi seçimle istasyonlar› ziyaret etmekte
ve nihai tüketiciye sat›fl an›nda ürün kalitesini
kontrol etmektedir.
• In 2000 a new team of Quality Assurance
Specialists was established within the
organization. These mobile technical experts
randomly check the quality of the products at
the stations, at the time of sale to the final
consumers.
• Turcas 48 y›ldan bu yana dünyan›n önde
gelen ya¤ üreticilerinden Castrol ile birlikte
çal›flmaktad›r. Bu yak›n iflbirli¤i, bayilerimize
ve müflterilerimize genifl bir üstün nitelikli ya¤
ürünleri yelpazesi sunarak devam
ettirilmektedir.
• Turcas has been associated with the worldclass lubricants manufacturer Castrol for 48
years and this close association continues
with a wide choice of top quality lubricants
available to our dealers and consumers.
• Turcas’›n h›zl› davranarak ‹pragaz ile
kurdu¤u stratejik iflbirli¤i, oto LPG
piyasas›nda yaflanan büyümeye katk›
sa¤lam›flt›r. Bu iflbirli¤inin bafllad›¤› tarihten
beri toplam 147 istasyonda ‹pragaz oto LPG
tesisat› kurulmufltur.
• Turcas’ early commitment to a long-term
strategic partnership with ‹pragaz ensured
the ability to maximize its participation in the
growth of the auto-LPG market. Since the
association started, a total of 147 stations
now have ‹pragaz auto-LPG facilities.
In respect of our services:
Verdi¤imiz hizmetler aç›s›ndan;
• 1993 y›l›ndan beri yollarda olan gezici bir
okul s›n›f› olarak düzenlenmifl TIR arac›l›¤› ile,
fiirket ürünleri ve prosedürleri, istasyon
personeline ve tanker floförlerine Türkpetrol
istasyonlar›nda ö¤retilmektedir. 2000 y›l›nda,
2,500 istasyon görevlisi ve 242 tanker
sürücüsü e¤itilmifl ve yeterlilik belgesi
verilmifltir.
• Bayi a¤›m›zda bulunan 120 istasyona yeni
marketler eklenmifltir. Bu istasyonlar kaliteli
ürünlerden oluflan genifl bir ürün yelpazesini
tek da¤›t›m noktas›nda sunabilecek
kapasiteye ulaflm›fllard›r.
24
• A trailer truck designed as a mobile
classroom has been on the road since 1993
bringing professionals to Türkpetrol stations
to train and familiarize personnel with
Company products and procedures onsite. In
2000, 2,500 station sales personnel and 242
tanker drivers have been trained and
competency certified.
• New shops have been added to 120
stations of our dealer network. These stations
are able to make use of a single distribution
point to supply a wide range of high quality
products.
• Demirbank ile yap›lan anlaflma kapsam›nda
Türkpetrol istasyonlar›na kurulan ATM
makineleri ile müflterilere ek hizmet ve
kolayl›klar sunulmaktad›r.
• An agreement drawn up with Demirbank
has resulted in the installation of ATM
machines at Türkpetrol stations providing
additional service and convenience to the
customers.
• Müflterilerine yeni bir ba¤l›l›k (loyalty) kart›
ile hizmet verebilmek amac›yla Turcas Petrol
2000 y›l›nda Finansbank Galaxy Card ile bir
anlaflma imzalam›flt›r.
• In 2000 Turcas signed an agreement with
Finansbank’s Galaxy Card to serve
customers with a new loyalty card.
• Ülke çap›nda yay›nlanan televizyon
reklamlar› ile y›l içinde iki önemli promosyon
kampanyas› yap›lm›flt›r. Her iki kampanya da
sat›fl hacmini art›rm›fl ve müflteri bilincini
gelifltirmifltir.
• Two major promotional campaigns along
with nation-wide television advertising were
completed during the year. Both campaigns
contributed to increased volumes and
improved customer awareness.
Terminal Yat›r›mlar›
Terminal Investments
2000 y›l› içinde Turcas Petrol da¤›t›m
terminallerine toplam 325,000 ABD Dolar›
tutar›nda yat›r›mlar yap›lm›flt›r. Gerçeklefltirilen
tüm projeler verim, güvenlik, çevre koruma ve
kalite kontrol konular›na iliflkindir. Bu projeler
Turcas lojisti¤inin petrol da¤›t›m sektöründe
mevcut en güvenli ve verimli uygulamalardan
biri olmas›n› sa¤lamaktad›r.
A total of US$ 325,000 was invested in
Turcas distribution terminals during the year
2000. All the projects were related to
efficiency, safety, environmental protection,
and quality control. These projects ensure
that Turcas logistics is one of the safest and
most productive in the petroleum distribution
industry.
Gemi Yat›r›mlar›
Ship Investments
‹ki adet IMO II s›n›f› kimyasal/beyaz ürün
tankerinin Tuzla Çelik Tekne Tersanesinde
yap›m› tamamlanm›flt›r. Turcas I, 2 A¤ustos
2000 tarihinde, Turcas II ise, 21 Eylül 2000
tarihinde denize indirilmifltir. Her iki tanker çift
cidarl› ve kaplanm›fl kargo tanklar›na sahiptir
ve tüm uluslararas› standartlara uygundur.
The construction of two IMO II-class
chemical/white oil vessels was completed in
Tuzla Çelik Tekne Shipyard. Turcas I was
launched on August 2, 2000 and Turcas II on
September 21, 2000. Both tankers have
double bottom, double skin and lined cargo
tanks and they both meet all international
standards.
25
faaliyetler (devam)
çal›flanlar›na ve ifl baflvurusu yapanlara, ›rk, renk, inanç,
›t ›s turcas petrol’s pol›cy to treat employees and job
etnik veya ulusal köken, cinsiyet, cinsel tercih, medeni hal,
appl›cants w›thout regard to race, color, creed, ethn›c or
yafl veya fiziksel özür ay›r›m› yapmaks›z›n eflit davranmak
nat›onal or›g›ns, gender, sexual or›entat›on, mar›tal
Turcas Petrol’ün politikas›d›r.
status, age or d›sab›l›ty.
26
Human Resources
31 Aral›k 2000 itibariyle Turcas Petrol’de
çal›flan personel say›s›, 37’si kad›n 153’ü
erkek olmak üzere toplam 190 kiflidir.
As of December 31, 2000, Turcas Petrol had
a workforce of 190 employees, made up of
37 females and 153 males.
Ücretler ve Toplu Pazarl›k Sözleflmeleri
Salaries and Collective Bargaining
Agreements
Turcas Petrol herhangi bir Toplu ‹fl
Sözleflmesine taraf de¤ildir. 2000 y›l› içinde
rekabet koflullar›na ve ekonomik geliflmelere
paralel olarak iki genel ücret art›fl› yap›lm›flt›r.
Ayr›ca, fiirket’in performansa ba¤l›
ücretlendirme felsefesi çerçevesinde
bireylerin bir önceki y›l gösterdikleri
performans seviyesine göre ücret art›fllar›
uygulanm›flt›r.
Turcas Petrol is not party to a Collective
Bargaining Agreement. During 2000, the
Company made two general salary increases
in line with prevailing economic conditions
and competitive practices. In addition and in
line with the Company’s philosophy with
respect to performance-related salary, merit
awards were made based on the individual
employee’s performance in the previous year.
K›dem Tazminat› Yükümlülükleri
Severance Pay Liabilities
Yönetmelik hükümlerine ba¤l› olarak, Aral›k
2000 itibariyle fiirket’in tüm çal›flanlar›na olan
toplam K›dem Tazminat› Yükümlülü¤ü
631,696 milyon TL’dir.
Personel ‹liflkileri Felsefesi ve Personele
Sa¤lanan Menfaatler
Çal›flanlar›na ve ifl baflvurusu yapanlara, ›rk,
renk, inanç, etnik veya ulusal köken, cinsiyet,
cinsel tercih, medeni hal, yafl veya fiziksel
özür ayr›m› yapmaks›z›n eflit davranmak
Turcas Petrol’ün politikas›d›r. fiirket,
çal›flanlar›na performans ve yeterliliklerine
ba¤l› olarak yükselme konusunda eflit f›rsat
tan›maktad›r.
Turcas Petrol’ün ‹nsan Kaynaklar› Yönetim
Politikas›, personele organizasyon içinde
rekabete ve ödüle dayal› bir çal›flma ortam›
oluflturmakt›r. Performans, motivasyon,
iletiflim ve personel geliflimini iyilefltirmek,
e¤itim gereksinimlerini de¤erlendirmek ve her
çal›flan›n gösterdi¤i performansa göre
ödüllendirilmesini sa¤lamak amac›yla hedefe
ve çal›flan de¤erlendirilmesine dayal› yönetim
flekli rutin olarak uygulanmaktad›r.
Yasa gere¤i verilen ayl›k maafllar d›fl›nda
As of December 2000, as required by
regulation, the Company’s severance pay
liabilities to its employees totaled TL 631,696
million.
Employee Relations Philosophy and Benefits
It is Turcas Petrol’s policy to treat employees
and job applicants without regard to race,
color, creed, ethnic or national origins,
gender, sexual orientation, marital status, age
or disability. The Company is committed to
provide equal opportunities for all employees
so that they may progress within the
Company according to their performance
ability and potential.
It is the policy of Turcas Petrol’s human
resources management activities to create a
challenging and rewarding environment for all
employees throughout the organization.
Management by objectives and employee
appraisals are routinely used to improve
performance, motivation, communication,
development, assess training needs and
ensure that each employee is rewarded in
accordance with his or her performance.
In addition to legally required monthly salary
27
faaliyetler (devam)
turcas petrol’ün insan kaynaklar› yönetim
›t ›s the pol›cy of turcas petrol’s human
politikas›, organizasyon içinde personele
resources management act›v›t›es to create a
rekabete ve ödüle dayal› bir çal›flma ortam›
challeng›ng and reward›ng environment for
oluflturmakt›r.
all employees throughout the organ›zat›on.
fiirket, çal›flanlar›na afla¤›daki sosyal
olanaklar› tan›maktad›r:
payments, the Company provides the
following fringe benefits:
•
•
•
•
•
•
•
• Paid vacations
• Four bonuses annually
• Seniority bonuses
• Annual vacation and holiday allowances
• Health and life insurance
• Financial support in the event of birth, death
and marriage
• Work-related meals and transportation
Ücretli izinler
Y›lda dört ikramiye
K›dem teflvik ödülleri
Y›ll›k izin ve bayram yard›mlar›
Sa¤l›k ve yaflam sigortas›
Do¤um, ölüm ve evlilik yard›mlar›
‹flle ilgili yemek ve seyahat harcamalar›
Ayr›ca, çal›flanlara yakacak, giyecek ve dini
bayram yard›mlar› yap›lmaktad›r. Tan›nan tüm
bu haklar, çal›flanlar›n gereksinimlerine ve
piyasadaki rekabet koflullar›na göre, belli
aral›klarla yeniden de¤erlendirilmektedir.
28
In addition, employees receive payments for
household heating, clothing and allowances
for religious festivities. All of these benefits
are regularly reviewed in line with employees’
needs and competitive practices.
Turcas Petrol Anonim fiirketi
31 Aral›k 2000 ve 1999 Tarihlerinde Sona Eren
Hesap Dönemlerine Ait Finansal Tablolar ve
Ba¤›ms›z Denetim Raporu
Financial Statements
December 31, 2000 and 1999
With Independent Auditors’ Report Thereon
Turcas Petrol Anonim fiirketi’nin
31 Aral›k 2000 ve 1999 Tarihlerinde Sona Eren Hesap Dönemlerine Ait Ba¤›ms›z
Denetim Raporu
Turcas Petrol Anonim fiirketi'nin (fiirket) 31 Aral›k 2000 ve 1999 tarihleri itibariyle düzenlenmifl bilançolar›n› ve bu
tarihlerde sona eren hesap dönemlerine ait gelir tablolar›n› incelemifl bulunuyoruz. ‹ncelememiz, genel kabul görmüfl
denetim ilke, esas ve standartlar›na göre yap›lm›fl ve dolay›s›yla hesap ve ifllemlerle ilgili olarak muhasebe kay›tlar›n›n
kontrolü ile gerekli gördü¤ümüz di¤er yöntem ve teknikleri içermifltir.
Görüflümüze göre, söz konusu mali tablolar, Turcas Petrol Anonim fiirketi'nin 31 Aral›k 2000 ve 1999 tarihlerindeki
gerçek mali durumunu, ve bu tarihlerde sona eren hesap dönemlerine ait gerçek faaliyet sonucunu (Bak›n›z Bilanço
Dipnotu 11), mevzuata ve bir önceki hesap dönemi ile tutarl› bir flekilde uygulanan ve Sermaye Piyasas› Kurulu
tebli¤lerinde belirlenen genel kabul görmüfl muhasebe ilkelerine uygun olarak do¤ru bir biçimde yans›tmaktad›r.
Raporumuza flartl› görüfl getirmemekle birlikte, Bilanço Dipnotlar› 8, 13 ve 33.2’de bahsedilen hususlara dikkat
çekmek isteriz. Dipnot 33.2’de de aç›kland›¤› gibi, 2000 senesi içinde ve 31 Aral›k 2000 tarihini müteakiben, Türkiye’de
önemli ekonomik sorunlar yafland›¤›na dikkatinizi çekmek istiyoruz. Bu sorunlar›n bafll›calar›, iç borçlanma senetlerinin
ve hisse senetlerinin fiyatlar›nda ani düflüfl yaflanmas›, ve kamu ve özel sektör borçlanmalar›na iliflkin faiz oranlar›n›n
h›zla yükselmesidir. Hükümet, bu sorunlar neticesinde banka sisteminde yaflanan likidite krizini aflmak amac›yla, 21
fiubat 2001 tarihinde Türk Liras›’n› serbest dalgalanmaya b›rakm›fl, ve bu karar, ilk gün içinde, Türk Liras›’n›n Amerikan
Dolar› karfl›s›nda %28 oran›nda de¤er kaybetmesine yol açm›flt›r. Bu rapor tarihi itibariyle Türk Liras› belli bafll› yabanc›
para birimleri karfl›s›nda 31 Aral›k 2000 tarihinde geçerli kurlar ile karfl›laflt›r›ld›¤›nda önemli ölçülerde de¤er kayb›na
u¤ram›flt›r. Söz konusu de¤er kayb› Amerikan Dolar› karfl›s›nda %37 olmufltur. fiirket’in mali durumu ve gelecekteki
faaliyetleri ve nakit ak›mlar› süregiden bu ekonomik sorunlardan olumsuz yönde etkilenebilecektir. fiirket yönetimi,
yaflanmakta olan ekonomik sorunlar›n gelecekteki boyutlar›n›, ciddiyetini ve süresini önceden tahmin edemedi¤i gibi
bu sorunlar›n fiirket’in flu anki mali durumu ve/veya gelecekteki faaliyetleri ve nakit ak›mlar› üzerinde yapaca¤› etkiyi de
belirleyememektedir. ‹liflikteki mali tablolar, bu ekonomik sorunlar neticesinde gerekli olabilecek herhangi bir
düzeltmeyi içermemektedir.
‹stanbul,
23 fiubat 2001
Cevdet Suner Denetim ve
Yeminli Mali Müflavirlik A.fi.
Ifl›k Yafla
Sorumlu Ortak, Bafldenetçi
Independent Auditors’ Report
We have examined the accompanying balance sheets of Turcas Petrol Anonim fiirketi (the Company) as of December
31, 2000 and 1999, and the related statements of income for the years then ended. Our examination was carried out
in accordance with generally accepted auditing principles, bases and standards and accordingly included, in
connection with the accounts and transactions, tests of the accounting records and other auditing procedures and
techniques we considered necessary.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of
the Company at December 31, 2000 and 1999, and the results of its operations for the years then ended, in
accordance with the legislation and generally accepted accounting principles promulgated by Capital Market Board,
consistently applied (refer to the Note 11 to Balance Sheet).
Without qualifying our opinion, we draw your attention to the matters discussed in Notes 8, 13 and 33.2 to the Balance
Sheets. As further discussed in Note 33.2 to the Balance Sheets, we draw your attention to the fact that significant
economic difficulties have emerged in Turkey during the year 2000 and subsequent to 31 December 2000. These
include, but are not limited to a steep decline in prices of domestic debt and equity securities and increasing rates on
government and corporate borrowings. In an attempt to overcome the liquidity crisis in the banking system, on 21
February 2001, the government allowed Turkish Lira to float freely. This caused a 28% devaluation of the Turkish Lira
against the US Dollar during the first day of floatation. As of the date of this report the Turkish Lira has devalued
significantly against major foreign currencies as compared to the related currency exchange rates ruling as of 31
December 2000. Such devaluation against the US Dollar has been 37%. The financial condition of the Company and
its future operations and cash flows could be adversely affected by continued economic difficulty. Management is
unable to predict the extent, severity or duration of the current economic difficulties nor quantify what impact it may
have on the current financial position or future operations and cash flows of the Company. These financial statements
do not include any adjustments, which may be necessary as a result of these economic difficulties.
‹stanbul
February 23, 2001
Cevdet Suner Denetim ve
Yeminli Mali Müflavirlik A.fi.
Ifl›k Yafla
Partner
The accompanying financial statements are not intended to present the financial position and results of operations in
accordance with accounting principles and practices generally accepted in countries and jurisdictions other than
Turkey. The standards, procedures and practices to audit such financial statements are those generally accepted and
applied in Turkey.
31 Aral›k 2000 ve 1999 Tarihleri ‹tibariyle Ayr›nt›l› Bilançolar / Detailed Balance Sheets as of December 31, 2000 and 1999
(Birim - Milyon Türk Liras›) / (Currency - Millions of Turkish Lira)
AKT‹F (VARLIKLAR) / ASSETS
Not / Note
31/12/2000
I - DÖNEN VARLIKLAR / CURRENT ASSETS
39,254,121
A - Haz›r De¤erler / Cash and Banks
1 - Kasa / Cash
2 - Bankalar / Banks
3 - Di¤er Haz›r De¤erler / Other Liquid Assets
30
22
C - K›sa Vadeli Ticari Alacaklar / Accounts Receivable
1 - Al›c›lar / Trade Receivables
2 - Alacak Senetleri / Notes Receivable
3 - Verilen Deposito ve Teminatlar / Deposits and Guarantees Given
4 - Di¤er K›sa Vadeli Ticari Alacaklar / Other Short-Term Accounts Receivables
5 - Alacak Reeskontu (-) / Discount on Receivables (-)
6 - fiüpheli Alacak Karfl›l›¤› (-) / Reserve for Doubtful Receivables
17
10
17,190
3,094,857
2,961,326
2,615,500
2,300,400
18,009,227
10
23
50,483
E - Stoklar / Inventories
11 & 16
1 - ‹lk Madde ve Malzeme / Raw Material and Supplies
2 - Yar› Mamüller / Semi-Finished Goods
3 - Mamüller / Finished Goods
4 - Emtia / Trading Goods
5 - Di¤er Stoklar / Other Inventories
6 - Stok De¤er Düflüklü¤ü Karfl›l›¤› (-) / Allowance for Impairment Value of Inventories (-)
7 - Verilen Siparifl Avanslar› / Advances Given
6,982
9,945,095
66,675
787
23,289,683
928,199
22,912,286
100,184
(600,486)
(50,500)
50,483
1,283,004
1,066,841
216,163
-
10,019,539
F - Di¤er Dönen Varl›klar / Other Current Assets
4,483,152
13,131
4,443,478
21,657
4,886
661,278
II - DURAN VARLIKLAR / LONG-TERM ASSETS
199,674
65,980,021
A - Uzun Vadeli Ticari Alacaklar / Accounts Receivable
1 - Al›c›lar / Trade Receivables
2 - Alacak Senetleri / Notes Receivable
3 - Verilen Depozito ve Teminatlar / Deposits and Guarantees Given
4 - Di¤er Uzun Vadeli Ticari Alacaklar / Other Long-Term Accounts Receivable
5 - Alacak Reeskontu (-) / Discount on Notes Receivable (-)
6 - fiüpheli Alacaklar Karfl›l›¤› (-) / Reserve for Doubtful Receivables
64,796,880
801,630
24 & 25
B - Di¤er Uzun Vadeli Alacaklar / Other Long-Term Receivables
1 - Ortaklardan Alacaklar / Receivables from Shareholders
2 - ‹fltiraklerden Alacaklar / Receivables from Investees
3 - Ba¤l› Ortakl›klardan Alacaklar / Receivables from Affiliated Companies
4 - Uzun Vadeli Ticari Alacaklar / Other Long-Term Receivables
5 - Alacak Reeskontu (-) / Discount on Notes Receivable (-)
6 - fiüpheli Alacaklar Karfl›l›¤› (-) / Reserve for Doubtful Receivables
420,937
101,289
1,462,185
4,690
18,445
(784,295)
(684)
741,235
3,340
37,350
(345,313)
(15,675)
-
-
C - Finansal Duran Varl›klar / Investments
11, 20, 26 & 27
1 - Ba¤l› Menkul K›ymetler / Securities
2 - Ba¤l› Menkul K›ymetler De¤er Düflüfl Karfl›l›¤› (-) / Allowance for Impairment in Value of Securities
3 - Ifltirakler / Investees
250
4 - ‹fltiraklere Sermaye Taahhütleri (-) / Capital Commitments to Investees
5 - ‹fltiraklerde De¤er Düflüfl Karfl›l›¤› (-) / Allowance for Impairment in Value of Investees
6 - Ba¤l› Ortakl›klar / Affiliated Companies
2,154,802
7 - Ba¤l› Ortakl›klara Sermaye Taahhütleri (-) / Capital Commitments to Affiliated Companies
8 - Ba¤l› Ortakl›klar De¤er Düflüfl Karfl›l›¤› (-) / Allowance for Impairment in Value of Aff. Companies
9 - Di¤er Finansal Duran Varl›klar / Other Investments
-
F - Di¤er Duran Varl›klar / Other Long-Term Assets
2,300,400
2,615,500
-
24 & 25
D - Di¤er K›sa Vadeli Alacaklar / Other Short-Term Receivables
1 - Ortaklardan Alacaklar / Receivables from Shareholders
2 - ‹fltiraklerden Alacaklar / Receivables from Investees
3 - Ba¤l› Ortakl›klardan Alacaklar / Receivables from Affiliated Companies
4 - K›sa Vadeli Di¤er Alacaklar / Other Short-Term Receivables
5 - fiüpheli Alacak Karfl›l›¤› (-) / Reserve for Doubtful Receivables
6,073,373
2,572
336,703
7,558,819
3,534,084
14,066,209
300
1,096,452
(475,527)
(212,291)
E - Maddi Olmayan Duran Varl›klar / Intangible Assets
1 - Kurulufl ve Teflkilatlanma Giderleri / Pre-Operating Expense
2 - Haklar / Rights
3 - Araflt›rma ve Gelifltirme Giderleri / Research and Development Expense
4 - Di¤er Maddi Olmayan Duran Varl›klar / Other Intangible Assets
5 - Birikmifl Amortismanlar / Accumulated Depreciation
6 - Verilen Avanslar / Advances Given
37,629,286
7,898,094
B - Menkul K›ymetler / Marketable Securities
11, 20 & 21
1 - Hisse Senetleri / Share Certificates
2 - Özel Kesim Tahvil Senet ve Bonolar› / Private Sector Bonds
3 - Kamu Kesim Tahvil Senet ve Bonolar› / Government Bonds and Treasury Bills
4 - Di¤er Menkul K›ymetler / Other Marketable Securities
5 - Menkul K›ymetler De¤er Düflüklü¤ü Karfl›l›¤› (-) / Allowances for Marketable Securities
D - Maddi Duran Varl›klar / Tangible Assets
1 - Arazi ve Arsalar / Land
2 - Yerüstü ve Yeralt› Düzenleri / Land Improvements
3 - Binalar / Buildings
4 - Makine, Tesis ve Cihazlar / Machinery, Installations and Equipment
5 - Tafl›t Araç ve Gereçleri / Transportation Vehicles
6 - Döfleme ve Demirbafllar / Furnitures and Fixtures
7 - Di¤er Maddi Duran Varl›klar / Other Tangible Assets
8 - Birikmifl Amortismanlar / Accumulated Depreciation (-)
9 - Yap›lmakta Olan Yat›r›mlar / Construction in Progress
10 - Verilen Siparifl Avanslar› / Advances Given
31/12/1999
8, 11, 16, 22 & 29
2,155,052
2,155,052
250
2,154,802
-
27,435,855
17,981,729
34,884
1,326,867
3,608,698
4,812,103
646,192
335,419
23,562,158
(16,157,856)
8,978,162
289,228
34,884
3,197,990
2,311,825
3,325,815
363,574
211,942
13,058,891
(10,093,123)
5,174,263
395,668
35,218,299
44,127,628
2,233,867
11 & 22 45,349,885
(12,365,453)
-
1,803,205
45,349,885
(3,025,462)
-
11
369,185
AKT‹F (VARLIKLAR) TOPLAMI / TOTAL ASSETS
‹liflikteki notlar bu mali tablolar›n ayr›lmaz bir parças›d›r. / The accompanying notes are an integral part of these balance sheets.
111,534
105,234,142
102,426,166
31 Aral›k 2000 ve 1999 Tarihleri ‹tibariyle Ayr›nt›l› Bilançolar / Detailed Balance Sheets as of December 31, 2000 and 1999
PAS‹F (KAYNAKLAR) / LIABILITIES
Not / Note
31/12/2000
I - KISA VADEL‹ BORÇLAR / SHORT-TERM LIABILITIES
47,651,941
A - Finansal Borçlar / Borrowings
1 - Banka Kredileri / Bank Borrowings
2 - Uzun Vadeli Kredi Anapara Taksit ve Faizleri / Installments and Interests of Long-Term Bank Borrowings
3 - Tahvil Anapara Taksit ve Faizleri / Installments and Interest of Bonds
4 - Ç›kar›lm›fl Bono ve Senetler / Issued Bills and Bonds
5 - Di¤er Finansal Borçlar / Other Borrowings
B - Ticari Borçlar / Accounts Payable
1 - Sat›c›lar / Trade Payables
2 - Borç Senetleri / Notes Payable
3 - Al›nan Depozito ve Teminatlar / Deposits and Guarantees Received
4 - Di¤er Ticari Borçlar / Other Accounts Payable
5 - Borç Senetleri Reeskontu (-) / Discount on Notes Payable (-)
C - Di¤er K›sa Vadeli Borçlar / Other Short-Term Liabilities
1 - Ortaklara Borçlar / Payables to Shareholders
2 - ‹fltiraklere Borçlar / Payables to Investees
3 - Ba¤l› Ortakl›klara Borçlar / Payables to Affiliated Companies
4 - Ödenecek Giderler / Expenses Payable
5 - Ödenecek Vergi Harç ve Di¤er Kesintiler / Taxes and Duties Payable
6 - Ertelenen ve Taksite Ba¤lanan Devlet Alacaklar› / Deferred Payables to Government
7 - K›sa Vadeli Di¤er Borçlar / Other Short-Term Liabilities
8 - Borç Reeskontu (-) / Discount on Notes Payable (-)
30
18,856,899
745,693
16,955,541
15,319,803
79,204
2,366,148
10
22
16,079
3,573,792
12,996
-
496,361
-
46,478,545
43,697,528
45,684,271
43,199,159
30 45,684,271
-
43,199,159
-
-
-
128,638
22
11
133,000
128,638
-
133,000
33,940
33,940
631,696
331,429
631,696
-
331,429
11,103,656
2, 3,4 & 5
19,627,811
7,330,233
1,722,744
13,828,150
7,330,233
1,734,094
10,009,389
8 12,887,614
27
940,536
-
9,068,853
940,536
2,084,738
F - Net Dönem Kar›/(Zarar›) / Net Profit for the Period
H - Geçmifl Y›llar Zararlar› / Prior Year Losses
1 - 1999 Y›l› Zarar› / 1998 Losses
2 - .....Y›l› Zarar› / ...Losses
496,361
188,091
E - Yedekler / Reserves
1 - Yasal Yedekler / Legal Reserves
1,908,960
2 - Statü Yedekleri / Status Reserves
3 - Özel Yedekler / Special Reserves
4 - Ola¤anüstü Yedekler / Extraordinary Reserves
175,778
5 - Maliyet Art›fl Fonu / Cost Increment Fund
6 - Sermayeye Eklenecek ‹fltirak Hisseleri ve
Gayrimenkul Sat›fl Kazanc› / Gain on Investment and Fixed Assets Sales that will be Added into Share Capital
G - Dönem Zarar› / Loss for the Period
-
188,091
34
22
D - Al›nan Siparifl Avanslar› / Advances from Customers
III - ÖZ SERMAYE / SHAREHOLDERS' EQUITY
A - Sermaye / Share Capital
B - Sermaye Taahhütleri (-) / Share Capital Commitment (-)
C - Emisyon Primi / Share Premium
D - Yeniden De¤erleme De¤er Art›fl› / Revaluation Surplus
1 - Duran Varl›klardaki De¤er Art›fl› / Revaluation Surplus on Tangible Assets
2 - ‹fltiraklerdeki De¤er Art›fl› / Revaluation Surplus on Investments
3 - Borsadaki De¤er Art›fl› / Revaluation Increment on Shares Quoted in Stock Exchange
3,602,867
2,139,781
195,424
30,943
225,071
B - Ticari Borçlar / Accounts Payable
1 - Sat›c›lar / Trade Payables
2 - Borç Senetleri / Notes Payable
3 - Al›nan Depozito ve Teminat / Deposits and Guarantees Received
4 - Di¤er Ticari Borçlar / Other Accounts Payable
5 - Borç Reeskontu / Discount on Notes Payable (-)
E - Borç ve Gider Karfl›l›klar› / Provision for Liabilities and Expenses
1 - K›dem Tazminat› Karfl›l›klar› / Provision for Retirement Pay Liability
2 - Di¤er Borç ve Gider Karfl›l›klar› / Provision for Other Liabilities and Expenses
15,399,007
10 16,881,154
10
74,387
-
F - Gelecek Aylara Ait Gelir ve Gider Tahakkuklar› / Accrual for Income and Expenses
C - Di¤er Uzun Vadeli Borçlar / Other Long-Term Liabilities
1 - Ortaklara Borçlar / Payables to Shareholders
2 - ‹fltiraklere Borçlar / Payables to Investees
3 - Ba¤l› Ortakl›klara Borçlar / Payables to Affiliated Companies
4 - Ertelenmifl Takside Ba¤l› Devlet Alacaklar› / Deferred Payables to Government
5 - Uzun Vadeli Di¤er Borçlar / Other Long-Term Liabilities
6 - Borç Reeskontu (-) / Discount on Notes Payable (-)
19,602,592
6,080,006
21,837,084
-
II - UZUN VADEL‹ BORÇLAR / LONG-TERM LIABILITIES
A - Finansal Borçlar / Borrowings
1 - Banka Kredileri / Bank Borrowings
2 - Ç›kar›lm›fl Tahviller / Issued Bonds
3 - Ç›kar›lm›fl Di¤er Menkul K›ymetler / Other Issued Marketable Securities
4 - Di¤er Finansal Borçlar / Other Borrowings
39,100,827
27,917,090
D - Al›nan Siparifl Avanslar› / Advances From Customers
E - Borç ve Gider Karfl›l›klar› / Provision for Liabilities and Expenses
1 - Vergi Karfl›l›klar› / Provision for Taxes
2 - Di¤er Borç ve Gider Karfl›l›klar› / Provision for Other Liabilities and Expenses
31/12/1999
2,084,738
1,908,960
175,778
-
-
370,621
(12,331,566)
-
(1,530,643)
-
PAS‹F (KAYNAKLAR) TOPLAMI / TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY
‹liflikteki notlar bu mali tablolar›n ayr›lmaz bir parças›d›r. / The accompanying notes are an integral part of these balance sheets.
(1,901,264)
105,234,142
102,426,166
31 Aral›k 2000 ve 1999 Tarihleri ‹tibariyle Ayr›nt›l› Gelir Tablolar› / Detailed Statements of Income for the Years Ended
Not / Note
31/12/2000
A - BRÜT SATIfiLAR / GROSS SALES
561,421,509
1 - Yurtiçi Sat›fllar / Domestic Sales
2 - Yurtd›fl› Sat›fllar / Export Sales
3 - Di¤er Sat›fllar / Other Sales
5
11
559,393,912
2,027,597
B - SATIfiLARDAN ‹ND‹R‹MLER (-) / SALES DEDUCTIONS (-)
(345)
(242,427)
C - NET SATIfiLAR / NET SALES
D - SATIfiLARIN MAL‹YET‹ (-) / COST OF SALES (-)
5
BRÜT SATIfi KARI VEYA ZARARI / GROSS MARGIN
E - FAAL‹YET G‹DERLER‹ (-) / OPERATING EXPENSES (-)
(61,399)
(37)
(61,362)
561,178,737
156,696,079
(533,744,401)
(147,567,038)
27,434,336
9,129,041
(21,419,492)
1 - Araflt›rma ve Gelifltirme Giderleri (-) / Research and Development Expenses
2 - Pazarlama, Sat›fl ve Da¤›t›m Giderleri (-) / Sales, Marketing and Distribution Expenses (-)
3 - Genel Yönetim Giderleri (-) / General and Administrative Expenses
1, 2 & 6
1&2
(7,981,551)
(13,437,941)
ESAS FAAL‹YET KARI VEYA ZARARI / OPERATING INCOME
F - D‹⁄ER FAAL‹YETLERDEN GEL‹RLER VE KARLAR / OTHER OPERATING INCOME
6
1 - ‹fltiraklerden Temettü Gelirleri / Dividend Income from Investees
2 - Ba¤l› Ortakl›klardan Temettü Gelirleri / Dividend Income from Affiliated Companies
3 - Faiz ve Di¤er Temettü Gelirleri / Interest and Other Dividend Income
4 - Faaliyetlerle ‹lgili Di¤er Gelirler ve Karlar / Other Operating Income
Bilanço dipnotu / Balance Sheet Note 22.7
H - F‹NANSMAN G‹DERLER‹ (-) / FINANCING EXPENSE (-)
6,014,844
3,127,973
6,414,116
5,854,685
2,280
4,159,434
371,195
1,321,776
(906,502)
3&4
1 - K›sa Vadeli Borçlanma Giderleri (-) / Short-Term Borrowings Interest Expense (-)
2 - Uzun Vadeli Borçlanma Giderleri (-) / Long-Term Borrowings Interes Expense (-)
(785,969)
(23,923,529)
(9,906,569)
(14,016,960)
FAAL‹YET KARI VEYA ZARARI / NET OPERATING INCOME OR LOSS
(18,038,732)
(5,075,415)
(12,963,317)
(12,401,071)
I - OLA⁄ANÜSTÜ GEL‹RLER VE KARLAR / EXTRAORDINARY INCOME
(9,842,043)
151,875
13
6, Bilanço dipnotu / Balance Sheet Notes 11 & 33
35,629
116,246
J - OLA⁄ANÜSTÜ G‹DERLER VE ZARARLAR (-) / EXTRAORDINARY EXPENSES
1 - Çal›flmayan K›s›m Giderleri ve Zararlar› (-) / Idle Time Expense
2 - Önceki Dönem Gider ve Zararlar› (-) / Prior Period's Expense
3 - Di¤er Ola¤anüstü Giderler ve Zararlar (-) / Other Extraordinary Expenses
(6,001,068)
(2,410,963)
(3,590,105)
7,335
702,184
5,704,597
G - D‹⁄ER FAAL‹YETLERDEN G‹DERLER VE ZARARLAR (-) / OTHER OPERATING EXPENSES (-)
10,214,524
3,984
8
10,210,532
(82,370)
13
DÖNEM KARI VEYA ZARARI / PROFIT OR LOSS
K - ÖDENECEK VERG‹ VE D‹⁄ER YASAL YÜKÜMLÜLÜKLER / TAXES ON INCOME Bilanço dipnotu / Balance Sheet Note 34
NET DÖNEM KARI VEYA ZARARI / NET PROFIT OR LOSS
‹liflikteki notlar bu mali tablolar›n ayr›lmaz bir parças›d›r. The accompanying notes are an integral part of these statements.
34
156,757,478
156,263,568
493,910
(242,772)
1 - Sat›fltan ‹adeler (-) / Sales Returns (-)
2 - Sat›fl ‹skontolar› (-) / Sales Discounts (-)
3 - Di¤er ‹ndirimler (-) / Other Discounts (-)
1 - Konusu Kalmayan Karfl›l›klar / Provisions Reversed
2 - Önceki Dönem Gelir ve Karlar› / Prior Period's Income
3 - Di¤er Ola¤anüstü Gelirler ve Karlar / Other Extraordinary Income
31/12/1999
(79,191)
(3,179)
(1,860)
(248)
(1,612)
(12,331,566)
370,621
-
-
(12,331,566)
370,621
31 Aral›k 2000 ve 1999 Tarihleri ‹tibariyle Nakit Ak›m Tablolar› / Statements Of Cash Flows For The Years Ended December 31, 2000 and 1999
31/12/2000
A - DÖNEM BAfiI NAK‹T MEVCUDU / CASH AT THE BEGINNING OF THE PERIOD
B - DÖNEM ‹Ç‹ NAK‹T G‹R‹fiLER‹ / CASH INFLOWS IN THE PERIOD
1 - Sat›fllardan Elde Edilen Nakit / Cash flows from sales
a) Net Sat›fl Has›lat› / Net sales
561,178,736
b) Alacaklardaki (Sat›fl. Kaynakla.) Azal›fllar / Net decrease in receivables
4,438,940
c) Alacaklardaki (Sat›fl. Kaynakla.) Art›fllar (-) / Net increase in receivables (-)
2 - Di¤er Faaliyetlerden Gelirler ve Karlardan
Dolay› Sa¤lanan Nakit / Cash flows from other operating income
3 - Ola¤anüstü Gelir ve Karlardan Sa¤lanan Nakit / Cash flows from extraordinary income
4 - K›sa Vadeli Borçlar. Art›fl (Al›m. ‹lgi. Olmayan) / Net increase in short-term liabilities
a) Di¤er Art›fllar / Other increases
4,969,565
5 - Uzun Vadeli Borç. Art›fl (Al›m. ‹lgi. Olmayan) / Net increase in long-term liabilities
a) Menkul K›ymet Ihraçlar›ndan / Issuance of bonds
b) Di¤er Art›fllar / Other increases
2,480,750
6 - Sermaye Art›r›m›ndan Sa¤lanan Nakit / Cash flows from increase in share capital
7 - Di¤er Nakit Giriflleri / Other cash flows
6,073,373
92,247
579,633,985
179,840,514
565,617,676
133,352,058
156,696,079
(23,344,021)
6,414,119
151,875
4,969,565
5,780,833
4,359,491
13,761,790
13,761,790
2,480,750
22,492,589
22,492,589
-
C - DÖNEM ‹Ç‹ NAK‹T ÇIKIfiLARI / CASH OUTFLOWS IN THE PERIOD
1 - Maliyetlerden Kaynaklanan Nakit Ç›k›fl› / Cash flow due to cost of sales
a) Sat›fllar›n Maliyeti / Cost of sales
533,744,401
b) Stoklardaki Art›fl / Increase in inventory
5,536,387
c) Borçlardaki (Al›m. Kaynakla.) Azal›fl / Net decrease in liabilities
d) Borçlardaki (Al›m. Kaynakla.) Art›fl (-) / Net increase in liabilities (-)
(1,556,534)
e) Amortisman ve Karfl›l›klar Gibi Nakit
Ç›k›fl› Gerektirmeyen Giderler (-) / Noncash expenses,i.e.; depreciation, provision (12,343,035)
2 - Faaliyet Giderlerinden Dolay› Nakit Ç›k›fl› / Cash flow due to operational expenses
a) Araflt›rma ve Gelifltirme Giderleri / Research and development expenses
b) Pazarlama, Sat›fl ve Da¤›t›m Giderleri / Marketing, selling and distribution expenses
7,981,551
c) Genel Yönetim Giderleri / General and administrative expenses
13,437,941
d) Nakit Ç›k›fl› Gerektirmeyen Giderler (-) / Noncash expenses (-)
3 - Di¤er Faaliyet. Giderler ve Zararlardan
Dolay› Nakit Ç›k›fl› / Cash outflow from other operating expenses
a) Di¤er Faaliyet. ‹lgili Gider ve Zararlar / Other expenses
906,502
b) Nakit Ç›k›fl› Gerek. Giderler ve Zarar. (-) / Noncash expenses (-)
4 - Finansman Giderlerinden Dolay› Nakit Ç›k›fl› / Cash flow from financing activities
5 - Ola¤anüstü Gider ve Zararlardan Dolay› Nakit Ç›k›fl› / Cash flow from extraordinary expenses
a) Ola¤anüstü Gider ve Zararlar / Extraordinary expenses
82,371
b) Nakit Ç›k›fl› Gerektirmeyen Giderler ve Zararlar (-) / Noncash expenses (-)
6 - Duran Varl›k Yat›r›m› Nedeniyle Nakit Ç›k›fl› / Cash flow used in investing activities
7 - K›sa Vadeli Borçlar›n Anapara Ödemeleri
(Al›mlarla ‹lgili Olmayan) / Principal repayment of short-term borrowings
a) Menkul K›ymetler Anapara Ödemeleri / Repayment of bonds
b) Di¤er Ödemeler / Other payments
2,792,205
8 - Uzun Vadeli Borç. Anapara Ödemeleri
(Al›mlarla ‹lgili Olmayan) / Principal repayment of long-term borrowings
a) Menkul K›ymet Anapara Ödemeleri / Repayment of bonds
b) Di¤er Ödemeler / Other payments
9 - Ödenen Vergi ve Benzeri / Taxes and funds paid
10 - Ödenen Temettüler / Dividends paid
11 - Di¤er Nakit Ç›k›fllar› / Other cash outflows
31/12/1999
93,753
577,809,264
173,859,388
525,381,219
133,338,776
147,567,038
4,149,884
(15,193,770)
(3,184,376)
21,419,492
6,001,068
2,410,963
3,590,105
-
906,502
392,448
785,969
(393,521)
9,166,987
82,371
16,964,049
1,860
1,860
-
5,189,023
5,721,978
2,792,205
8,065,200
8,065,200
-
-
11,582,044
3,941
1,285,480
1,064,351
9,258
2,300,400
D - DÖNEM SONU NAK‹T MEVCUDU / CASH AT THE END OF THE PERIOD
7,898,094
6,073,373
E - NAK‹T ARTIfi VEYA AZALIfiI / NET INCREASE / (DECREASE) IN CASH
1,824,721
5,981,126
35
31 Aral›k 2000 ve 1999 Tarihleri ‹tibariyle Kaynak Kullan›m Tablolar› / Statement Of Sources and Uses Of Funds For The Years Ended
31/12/2000
A- KAYNAKLAR / SOURCES OF FUNDS
1 - Faaliyet Kar›ndan Sa¤lanan Kaynak / Sources from operating income
a) Faaliyet Kar› / Operating Income
b) Amortismanlar (+) / Depreciation (+)
c) Fon Ç›k›fl› Gerektirmeyen Di¤er Giderler(+) / Noncash expenses (+)
d) Fon Girifli Sa¤lamayan Gelirler (-) / Noncash income (-)
2 - Ola¤anüstü Kardan Sa¤lanan Kaynak / Source from extraordinary income
a) Ola¤anüstü Kar / Extraordinary income
b) Fon Ç›k›fl› Gerektirmeyen Giderler (+) / Noncash expenses (+)
c) Fon Girifli Sa¤lamayan Gelirler(-) / Noncash income (-)
3 - Dönen Varl›klar›n Tutar›nda Azal›fl / Decrease in current assets
4 - Duran Varl›klar›n Tutar›nda Azal›fl / Decrease in long-term assets
5 - K›sa Vadeli Borçlarda Art›fl / Increase in short-term liabilities
6 - Uzun Vadeli Borçlarda Art›fl / Increase in long-term liabilities
7 - Sermaye Art›r›m› (Nakit Karfl›lanan) / Capital increase - cash
8 - Emisyon Primi / Capital surplus
13,931,403
62,224,116
-
-
-
310,943
10,775,967
151,875
159,068
-
10,214,524
565,427
(3,984)
2,280,329
8,859,381
2,480,750
-
B - KAYNAK KULLANIMLARI / USES OF FUNDS
1 - Faaliyet Zarar›ndan Dolay› Kaynak Kullan›m› / Uses due to operating loss
a) Faaliyet Zarar› / Operating loss
b) Amortismanlar (-) / Depreciation (-)
c) Fon Ç›k›fl› Gerektirmeyen Di¤er Giderler (-) / Other noncash expenses (-)
d) Fon Girifli Sa¤lamayan Di¤er Gelirler (+) / Other noncash income (+)
2 - Ola¤anüstü Zararlardan Dolay› Kaynak Kullan›m› / Extraordinary expense
a) Ola¤anüstü Zarar / Extraordinary expense
b) Fon Ç›k›fl› Gerektirmeyen Giderler (+) / Noncash expenses (+)
c) Fon Girifli Sa¤lamayan Gelirler(-) / Noncash income (-)
3 - Ödenen Vergi ve Benzerleri / Taxes and duties paid
4 - Ödenen Temettüler / Dividends paid
5 - Dönen Varl›klar›n Tutar›nda Art›fl / Increase in current assets
6 - Duran Varl›klar›n Tutar›nda Art›fl / Increase in long-term assets
(Yeniden De¤erleme Hariç) / (Excluding revaluation surplus)
7 - K›sa Vadeli Borçlarda Azal›fl / Decrease in short-term liabilities
8 - Uzun Vadeli Borçlarda Azal›fl / Decrease in long-term liabilities
9 - Sermayede Azal›fl / Decrease in capital
31/12/1999
28,955,560
22,492,589
13,931,403
62,224,116
638,212
5,887,218
12,401,070
(12,159,463)
(2,395,600)
2,792,205
9,842,043
(3,118,137)
(1,079,830)
243,142
82,371
1,860
82,371
-
1,860
11,582,044
3,941
1,624,835
-
1,064,351
9,258
35,909,573
19,351,856
-
-
NET ‹fiLETME SERMAYES‹NDEK‹ DE⁄‹fi‹M / CHANGE IN NET WORKING CAPITAL
1 - Net ‹flletme Sermayesindeki Art›fl / Increase in net working capital
2 - Net ‹flletme Sermayesindeki Azal›fl / Decrease in net working capital
36
6,673,753
6,926,276
31 Aral›k 2000 ve 1999 Tarihleri ‹tibariyle Kar Da¤›t›m Tablolar› / Statements Of Appropriation Of Profit For The Years Ended
31/12/2000
31/12/1999
(12,331,566)
370,621
2 - Geçmifl Y›llar Zararlar› / Prior year losses
(1,530,643)
(1,901,264)
3 - Ödenecek Vergiler / Tax Provision
- Kurumlar Vergisi / Corporate Taxes
- Gelir Vergisi / Income Taxes
- Di¤er Vergi ve Benzerleri / Other Taxes
-
A - DÖNEM KARININ DA⁄ITIMI / APPROPRIATION OF PROFIT FOR THE PERIOD
1 - Dönem Kar›/(Zarar›) / Net Profit for the Period
-
4 - Birinci Tertip Yasal Yedek / First Legal Reserves
NET DA⁄ITILAB‹L‹R DÖNEM KARI / NET DISTRIBUTABLE INCOME
5 - Ortaklara Birinci Temettü / First Dividends to Shareholders
- Adi Hisse Senedi Sahiplerine / Common Shares
- ‹mtiyazl› Hisse Senedi Sahiplerine / Preferred Shares
-
-
-
(13,862,209)
(1,530,643)
-
-
6 - Memur ve ‹flçilere Temettü / Bonus to Employees
-
-
7 - Yönetim Kuruluna Temettü / Bonus to Board of Directors
-
-
8 - Ortaklara ‹kinci Temettü / Second Dividends to Shareholders
- Adi Hisse Senedi Sahiplerine / Common Shares
- ‹mtiyazl› Hisse Senedi Sahiplerine / Preferred Shares
-
-
9 - ‹kinci Tertip Yasal Yedek / Second Legal Reserves
-
-
10 - Statü Yedekleri / Status Reserves
-
-
11 - Özel Yedekler / Special Reserves
-
-
OLA⁄ANÜSTÜ YEDEKLER / EXTRAORDINARY RESERVES
B - YEDEKLERDEN DA⁄ITIM / APPROPRIATION FROM RESERVES
1 - Ortaklara Pay / To Shareholders
- Adi Hisse Senedi Sahiplerine / Common Shareholders
- ‹mtiyazl› Hisse Senedi Sahiplerine / Preferred Shareholders
2 - Memur ve ‹flçilere Pay / To Employees
3 - Yönetim Kuruluna Pay / To Board of Directors
-
-
-
-
-
-
-
-
C - H‹SSE BAfiINA KAR (TL%) / DISTRIBUTABLE INCOME PER SHARE
1 - Adi Hisse Senedi Sahiplerine (TL%) / Common Shareholders (TL%)
2 - ‹mtiyazl› Hisse Senedi Sahiplerine (TL%) / Preferred Shareholders (TL%)
D - H‹SSE BAfiINA KAR PAYI / DIVIDENDS PER SHARE
1 - Adi Hisse Senedi Sahiplerine (TL%) / Common Shareholders (TL%)
2 - ‹mtiyazl› Hisse Senedi Sahiplerine (TL%) / Preferred Shareholders (TL%)
37
31 Aral›k 2000 ve 1999 Tarihleri ‹tibariyle
Bilanço Dipnotlar›
(Birim - Aksi belirtilmedikçe Milyon Türk Liras›)
Notes to the Balance Sheets as of December 31,
2000 and 1999
(Currency - Millions of Turkish Lira unless otherwise stated)
1. ‹flletmenin fiili faaliyet konusu:
Her türlü petrol ve petrol ürünlerinin al›m› sat›m› ihrac› ve ithali ile
da¤›t›m›d›r. Turcas Petrol A.fi.’nin (fiirket) daha önce Tabafl
Petrolcülük A.fi. olan ticaret ünvan› Not 33’te anlat›lan Turcas
Petrolcülük A.fi. ile birleflme neticesinde 30 Eylül 1999 tarihinde
de¤iflmifltir.
1. Activities:
Turcas Petrol A.fi. (the Company) is engaged to purchase, sell,
import, export and distribute all kinds of fuel products and
lubricants. After the merger with Turcas Petrolcülük A.fi. on
September 30, 1999, as explained in Note 33, the Company’s
commercial title, which was priorly named as Tabafl Petrolcülük
A.fi., was changed to Turcas Petrol A.fi.
2. Sermayenin %10 ve daha fazlas›na sahip ortaklar›n:
2. Shareholders with an ownership of interest 10% and above:
2000
Conoco Inc.
Erdal Aksoy
Baha Kaya Alp Baban
Pay
Oran›
%28
%13
%13
1999
Pay
Tutar›
2,026,103
944,474
885,366
Pay
Oran›
%28
%13
%13
Pay
Tutar›
2,026,103
944,474
885,366
3. Sermayeyi temsil eden hisse senetlerine tan›nan imtiyazlar
(Hisse senetleri tertipleri ve imtiyaz türleri itibariyle ayr› ayr›):
Yönetim Kurulu Üyelerinin en az 3 tanesi B grubu hisse sahiplerinin,
en az 2 tanesi C grubu hisse sahiplerinin gösterece¤i adaylar
aras›ndan seçilir. Murak›plar›n biri C grubu hissedarlar›n›n
ço¤unlu¤unun belirledi¤i adaylar›n aras›ndan, di¤eri B grubu
hissedarlar›n›n ço¤unlu¤unun belirledi¤i adaylar aras›ndan seçilir.
4. Kay›tl› sermayeli ortakl›klarda kay›tl› sermaye tutar›:
fiirket kay›tl› sermaye sistemine tabi de¤ildir.
5. Dönem içinde yap›lan sermaye art›r›mlar› ve kaynaklar›:
Yoktur (1999: fiirket’in Turcas Petrolcülük ile birleflmesi neticesinde
iç kaynaklardan 330,233 TL’l›k sermaye art›fl› olmufltur).
6. Dönem içinde ihraç edilen hisse senedi d›fl›ndaki menkul
k›ymetler:
Yoktur.
7. Dönem içinde itfa edilen borçlanmay› temsil eden menkul
k›ymetler:
Yoktur.
8. Cari dönemde duran varl›k hareketleri:
31 Aral›k 2000 ve 1999 tarihlerinde sona eren dönemlerdeki duran
varl›k hareketleri afla¤›daki gibidir:
a) Sat›n al›nan, imal veya infla edilen
maddi duran varl›klar›n maliyeti
b) Sat›lan veya hurdaya ayr›lan
maddi duran varl›k maliyeti
c) Cari dönemde ortaya ç›kan yeniden
de¤erleme art›fllar›
- Varl›k maliyetlerinde (+)
- Birikmifl amortismanlarda (-)
2000
1999
4,758,160
2,140,283
263,744
379,292
5,385,761
9,308,235
3,922,474
3,949,317
6,365,470
2,416,153
1999 y›l› içinde ekonomik ömrünü tamamlam›fl olan yerüstü ve
yeralt› düzenleri maliyeti üzerindeki 1,941,539 TL ve birikmifl
amortismanlar› üzerindeki 494,864 TL tutar›ndaki yeniden
de¤erleme rakam› cari dönemde duran varl›klardaki de¤er art›fl fonu
ile netlefltirilmifltir.
d) Yap›lmakta olan yat›r›mlar›n toplam tutar›, bafllang›ç ve bitifl tarihi
ve tamamlanma derecesi ( 31 Aral›k 2000 itibariyle):
Toplam
Niteli¤i
tutar
Gemi Yat›r›m› Projesi
8,883,846
Dörtdivan Otoyol Hizmet Tesisi Yat›r›m›
20,747
Damlama Otoyol Hizmet Tesisi Yat›r›m›
22,582
Y›lankale Otoyol Hizmet Tesisi Yat›r›m›
22,582
Osmaniye Otoyol Hizmet Tesisi Yat›r›m›
22,582
‹zmir Çeflme Otoyol Hizmet Tesisi Projesi
4,752
Ambarl› fiamand›ra Yenileme Tesisi
887
Ambarl› Dolum Tesisi Ayd›nlatma Projesi
184
Toplam
8,978,162
2000
Bafllang›ç Bitifl Tamamlanma
tarihi tarihi
Derecesi
1999 2001
%99
1999 2001
%95
2000 2002
%30
2000 2002
%30
2000 2002
%30
1999 2001
%20
2000 2001
%0.9
2000 2001
%2
2000
1999
Percentage Amount of Percentage Amount of
of the share
the share of the share
the share
Conoco Inc.
28%
2,026,103
28%
2,026,103
Erdal Aksoy
13%
944,474
13%
944,474
Baha Kaya Alp Baban
13%
885,366
13%
885,366
3. Privileges for the share certificates that represent the capital
(specifying the class of share certificate and privilege):
The Board of Directors is established among at least 3 shareholders
of Group B shares, and at least 2 shareholders of Group C shares.
One of the auditors is voted among the candidates determined by
the shareholders of Group C shares and the other is voted among
the candidates determined by the majority of the shareholders of
Group B shares.
4. Registered share capital amount:
The Company is not subject to registered share capital system.
5. Capital increases made during the year and their sources:
None (1999: After the merger with Turcas Petrolcülük A.fi., the
Company’s share capital was increased by TL 330,233 funded from
internal resources).
6. Securities issued during the year excluding the share
certificates:
None.
7. Debt securities issued during the year:
None.
8. Movements of the tangible assets during the fiscal year:
The tangible assets’ movements as of and for the years ended
December 31, 2000 and 1999 are as follows:
a) Cost of the tangible assets that
were purchased, manufactured
or constructed:
b) Cost of the tangible assets that
were sold or scrapped:
c) Revaluation increments
occurred in the fiscal year:
- On cost of tangible assets (+):
- On accumulated depreciation (-):
1999
4,758,160
2,140,283
263,744
379,292
5,385,761
9,308,235
3,922,474
3,949,317
6,365,470
2,416,153
Revaluation on fully depreciated land improvements (on cost
amounting TL 1,941,539 and on accumulated depreciation
amounting TL 494,864) has been netted off to the revaluation fund
in the current year.
d) Type of construction in progress, total amount, beginning and
ending date, percentage of completion (As of December 31, 2000):
Description
Ship Projects
Dörtdivan Highway Service
Station Investment
Damlama Highway Service
Station Investment
Y›lankale Highway Service
Station Investment
Osmaniye Highway Service
Station Investment
‹zmir Çeflme Highway
Service Station Project
Ambarl› Buoy Renewing Project
Ambarl› Filling Pipeline Project
Total
38
2000
2000
Total Starting Completion Percentage of
Amount
Date
Date
Completion
8,883,846
1999
2001
99%
20,747
1999
2001
95%
22,582
2000
2002
30%
22,582
2000
2002
30%
22,582
2000
2002
30%
4,752
887
184
1999
2000
2000
2001
2001
2001
20%
0.9%
2%
8,978,162
17 A¤ustos 1995 tarihinde BP Petrolleri A.fi.’nin Ambarl›’daki dolum
tesislerinin Turcas Petrolcülük A.fi., Tabafl Petrolcülük A.fi. ve
Selyak Petrol Ürünleri Üretim ve Pazarlama A.fi. taraf›ndan ortaklafla
kullan›lmas› için bu dört flirket aras›nda bir sözleflme yap›lm›flt›r. Bu
sözleflmeye göre, her bir flirket bu tesislerin ve üzerine kurulu olan
arazinin 1/4 oran›nda hissesine sahiptir. Bu nedenle Turcas
Petrolcülük A.fi. ve Tabafl Petrolcülük A.fi., BP Petrolleri A.fi.’ne
toplam 4,612,890 ABD Dolar› avans vermifllerdir. Fakat bu arazinin
sahipli¤i konusunda BP Petrolleri A.fi. ve üçüncü flah›slar (yaklafl›k
600 ortak) aras›nda ç›kan bir ihtilaf dolay›s›yla, Turcas Petrolcülük
A.fi. kendisine ait olan baflka bir arazinin di¤er flirketlerce, bu ihtilaf
çözülemedi¤i taktirde sat›n al›nmas› için BP Petrolleri A.fi. ve Selyak
Petrol Ürünleri Üretim ve Pazarlama A.fi.’nden toplam 1,000,000
ABD Dolar› avans alm›flt›r. ‹liflikteki Turcas Petrol A.fi.’nin 31 Aral›k
2000 ve 1999 tarihli bilançolar›nda verilen avanslar Maddi Duran
Varl›klar içerisinde, al›nan avanslar ise Uzun Vadeli Ticari Borçlar
içerisinde tarihi maliyetleri ile gösterilmektedir. Davan›n 2001 y›l›
içinde bitmesi ve arsa sat›fllar›n›n gerçekleflmesi beklenmektedir.
Davan›n sonuçland›r›labilmesi için ortaklar aralar›nda 2001 y›l›
A¤ustos ay›na kadar süreyi uzatan ek bir protokol yapm›fllard›r.
Biriken kur farklar› arsa sat›fl›n›n tescilini müteakip gelir tablosuna
yans›t›lacakt›r. 31 Aral›k 2000 tarihi itibariyle gizli rezerv olarak
mütalaa edebilece¤imiz toplam kur fark› geliri, net 2,171,745 TL’d›r.
On August 17, 1995 an agreement was made between Turcas
Petrolcülük A.fi., Tabafl Petrolcülük A.fi., Selyak Petrol Ürünleri
Üretim ve Pazarlama A.fi. and BP Petrolleri A.fi. in order to use
Filling Establishment of BP Petrolleri A.fi. in Ambarl› region jointly.
According to this agreement, each company has 1/4 share of all land
and of assets related to this establishment. Accordingly, Tabafl
Petrolcülük A.fi. and Turcas Petrolcülük A.fi. have given an advance
to BP Petrolleri A.fi. amounting to USD 4,612,890. However, due to a
dispute related to the ownership of land which the establishment
was built on, between BP Petrolleri A.fi. and third parties (around
600 partners), Turcas Petrolcülük A.fi. has made an agreement with
other three companies in order to sell its own land in Büyükçekmece
region and obtained USD 1,000,000 from BP Petrolleri A.fi. and
Selyak Petrol Ürünleri Üretim ve Pazarlama A.fi. Advances given and
advances received amount are presented under Tangible Assets
and Accounts Payable accounts at historical costs, respectively. The
dispute is expected to be finalised in 2001 and to finalise the dispute
shareholders made a side agreement to lengthen the period till
August 2001. Accumulated foreign exchange losses will be booked
to the income statement subsequent to the finalisation of dispute and
legal registration of sales of the land. Total foreign exchange gain
that may be also named as hidden reserve amounting TL 2,171,745
as of December 31, 2000.
9. Cari ve gelecek dönemlerde yararlan›lacak yat›r›m indiriminin
toplam tutar›:
fiirket’in 30 Eylül 1999 tarihi itibariyle devrald›¤› Turcas Petrolcülük
A.fi. 26 Mart 1999 ve 6 Nisan 1999 tarihinde, gemi sat›n almas›
konusunda Yat›r›m Teflvik Belgesi alm›fl, teflvi¤in kabulü 30 Nisan
1999 tarihinden önce al›nd›¤› için 1998 dönemi Turcas Petrolcülük
A.fi. vergi hesaplamas›nda 6,836,947 TL kullan›lm›flt›r. 31 Aral›k
1999 tarihi itibariyle gerçekleflen yat›r›m harcamas› 5,113,281 TL
olup Bilanço dipnotu 13’de eksik gerçekleflmeye isabet eden
k›sm›ndan do¤abilecek muhtemel yükümlülük belirtilmifltir.
fiirket’in 31 Aral›k 2000 tarihi itibariyle gerçeklefltirdi¤i toplam yat›r›m
harcamas› 8,883,846 TL olmufltur.
9. Total amount of investment incentives to be utilised in the
current and following years:
Turcas Petrolcülük A.fi. which was taken over by the Company as of
September 30, 1999, had obtained Investment Incentive Certificates
dated March 26, 1999 and April 6, 1999 in relation to the purchase
of vessels. As the procedures for the Investment Incentive Certificates
were completed before April 30, 1999, the 1998 tax provision of
Turcas Petrolcülük A.fi. was computed benefiting from the Investment
Incentive Certificates amounting TL 6,836,947. Total amount of
investments actually incurred as of December 31, 1999 amounted
TL 5,113,281. The contingent losses that could cause additional
liability due to the under-realisation of the investment are discussed
in Note 13.
10. ‹flletmenin ortaklar, ifltirakler ve ba¤l› ortakl›klarla olan
alacak borç iliflkisi:
Total amount of investment expenditures incurred as of December
31, 2000 amounted TL 8,883,846.
2000
1999
Alacaklar
Borçlar
Alacaklar
Borçlar
Ticari
Ticari
Ticari
Ticari Ticari
Ticari Ticari
Ticari
Olmayan
Olmayan
Olmayan
Olmayan
1) Ortaklar
5,788
- 2,139,781 61,062
- 64,777 16,079
2) Ba¤l› Ortakl›klar
- 912,324
- 1,066,841
3) ‹fltirakler
- 24,662
- 20,448
-
10. Due from and to shareholders, affiliated companies and
other investees of the Company are as follows:
Ortaklara ticari olmayan 2,127,643 TL tutar›ndaki borç, Conoco
Incorporation’dan kullan›lm›fl olan 8 fiubat 2001 vadeli 3,000,000
ABD Dolar› tutar›ndaki k›sa vadeli kredi ve ayn› kredinin 31 Aral›k
2000’e isabet eden 17,013 ABD Dolar› tutar›ndaki tahakkuk eden
faizi ve 91,147 TL tutar›nda yine Conoco Incorporation’a ödenecek
olan hizmet giderlerinden oluflmaktad›r. Geriye kalan 12,138 TL
(1999: 16,079 TL) tutar›ndaki borç ise 2000 y›l› temettü borcunu
içermektedir.
31 Aral›k 1999 tarihi itibariyle ba¤l› ortakl›klardan ticari olmayan
1,066,841 TL tutar›ndaki rakam, fiirket’in Marmara Petrol ve Rafineri
‹flleri A.fi.’ye satm›fl oldu¤u Körfez Dolum Tesisi ile ilgili alacaktan
kaynaklanmaktad›r (Bak›n›z Gelir Tablosu Dipnotu 6).
11. Stoklar ve di¤er bilanço kalemlerinde uygulanan de¤erleme,
envanter ve amortisman ay›rma yöntemleri; bunlarda ve di¤er
muhasebe politikalar›nda önceki dönemlere göre yap›lan
de¤ifliklikler; bu de¤iflikliklerin parasal etkileri ve iflletmenin
süreklili¤i ile dönemsellik varsay›mlar›n› de¤ifltirecek muhtemel
geliflmeler ve bunlar›n gerekçeleri:
11.1. Mali Tablolar›n Sunulufl fiekli:
Mali tablolar yürürlükteki ticari ve mali mevzuata ve Sermaye
Piyasas› Kurulu'nun yay›mlad›¤› genel kabul görmüfl muhasebe
ilkelerine göre düzenlenmifltir. 31 Aral›k 2000 tarihi itibariyle
düzenlenen mali tablolar Turcas Petrol A.fi.’nin faaliyetlerini
yans›t›rken, 31 Aral›k 1999 tarihi itibariyle düzenlenen mali tablolar
eski ad›yla Tabafl Petrolcülük A.fi.’nin 30 Eylül 1999 tarihine kadar
olan faaliyetlerini, Turcas Petrolcülük A.fi.’nin ayn› tarih itibariyle
vergi sonras› kar›n› ve bu tarihten sonra Turcas Petrol A.fi.’nin
faaliyetlerini yans›tmaktad›r.
2000
1999
Receivables
Payables
Receivables
Payables
Trade
Non Trade
Non Trade
Non Trade
Non
Trade
Trade
Trade
Trade
1) Shareholders
5,788
- 2,139,781 61,062
- 64,777 16,079
2) Affiliated Companies
- 912,324
1,066,841
3) Investees
- 24,662
- 20,448
-
TL 2,127,643 portion of non-trade payable to shareholders represents
short-term loans obtained from Conoco Incorporation amounting to
USD 3,000,000, accrued interest of which loan amounting to USD
17,013, and services payable to Conoco Incorporation amounting to
TL 91,147. The remaining portion of non-trade payables to
shareholders amounting to TL 12,138 (1999: TL 16,079) represents
dividends payable to shareholders.
As of December 31, 1999, the non-trade receivable of TL 1,066,841
from affiliated companies resulted from the Company’s sale of
Körfez Filling Establishment to Marmara Petrol ve Rafineri ‹flleri A.fi
(Please refer to Note 6 of Statement of Income).
11. Methods applied for valuation, costing and depreciation
related to inventories and other balance sheet items; the
changes made on these methods and other accounting policies
when compared to prior years; monetary effects of these
changes and main factors that can affect going concern
assumptions and consistency, and the reasons for these:
11.1. The Presentation of Financial Statements:
The Company maintains its books of account and prepares its
statutory financial statements in accordance with Turkish commercial
practice and tax legislation and the generally accepted accounting
principles of Capital Market Board. The financial statements
prepared as of and for the year ended as of December 31, 2000
reflect the operations of Turcas Petrol A.fi.. Financial statements
prepared as of and for the year ended as of December 31, 1999
reflect the operations of the formerly named Tabafl Petrolcülük A.fi.
until September 30, 1999, the after-tax profit of Turcas Petrolcülük
A.fi. as of September 31, 1999 and the operations of Turcas Petrol
A.fi. after this date.
39
11.2. Önemli Muhasebe ‹lkelerinin Özeti:
‹liflikteki mali tablolar›n haz›rlan›fl›nda takip edilen ana muhasebe
ilkeleri afla¤›da belirtilmifltir:
11.2. Summary of Significant Accounting Principles:
The accompanying financial statements have been prepared in
accordance with the following accounting principles:
11.2.1. Maddi Duran Varl›klar:
31 Aral›k 2000 ve 1999 tarihleri itibariyle arazi ve arsalar haricindeki
bütün maddi duran varl›klar elde etme maliyeti ve 3094 say›l› kanun
uyar›nca yeniden de¤erleme art›fllar› ile belirtilmifltir.
11.2.1. Tangible Assets:
As of December 31, 2000 and 1999, except for land, tangible
assets are stated at cost plus revaluation increment in accordance
with the Revaluation Law No: 3904.
Sat›nalma maliyeti üzerinden amortismana tabi tutulan binalar,
yerüstü ve yeralt› düzenleri (1999: yerüstü ve yeralt› düzenleri dahil)
d›fl›nda amortisman, sabit k›ymetlerin yeniden de¤erlemeye tabi
tutulmufl maliyet bedelleri üzerinden Türk Vergi Kanunlar›’n›n tesbit
etti¤i oranlar dahilinde, normal amortisman yöntemi kullan›larak
ayr›lmaktad›r. Afla¤›da belirtilen bu oranlar ilgili aktiflerin tahmini
faydalanma sürelerine dayal› oranlara yak›nd›r.
Except for buildings and land improvements (1999: including land
improvements), which are depreciated over their historical costs,
depreciation is provided on revalued amounts in accordance with
Turkish Tax Legislation, using straight-line method of depreciation.
The depreciation rates approximate those based on the estimated
useful lives of the related assets as follows:
Yerüstü ve Yeralt› Düzenleri
Binalar
Makina, Tesis ve Cihazlar
Tafl›t Araç ve Gereçleri
Döfleme ve Demirbafllar
Di¤er Maddi Duran Varl›klar
Amortisman Oran›
%10-40
%2-4
%5-40
%20-40
%10-40
%10-40
31 Aral›k 2000 tarihi itibariyle, maddi duran varl›klar 27,388,176
TL’na (1999: 13,896,613 TL) sigorta ettirilmifltir. Bu sigorta tutar›
maddi duran varl›klar toplam›ndan 234,893 TL (1999: 3,689,448 TL)
daha azd›r.
11.2.2. Maddi Olmayan Duran Varl›klar:
Maddi olmayan duran varl›klar marka kullanma haklar›n› ve Tabafl
Petrolcülük A.fi. ile Turcas Petrolcülük A.fi.’nin birleflmesinden
ortaya ç›kan ve pefltemall›k olarak nitelendirilen devir denklefltirme
hesab›n› içermekte olup, haklar 5-15 y›l, devir denklefltirme hesab›
ise k›st metoduyla 5 y›l içinde itfa edilmektedir
11.2.3. Stoklar:
Stoklar a¤›rl›kl› ortalama maliyet yöntemi kullan›larak
de¤erlendirilmektedir. Piyasa de¤eri maliyet bedelinden düflük
olursa stoklar›n de¤eri düflük olan piyasa de¤erine indirilir.
Maliyetler, stoklar› mevcut duruma getirmek için yap›lan bütün direk
masraflar› içermektedir.
31 Aral›k 2000 tarihi itibariyle, stoklar 8,599,551 TL’na (1999:
4,436,693 TL) sigorta ettirilmifltir. Bu sigorta tutar›, stok toplam›n›
kapsamaktad›r.
11.2.4. Menkul K›ymetler ve Finansal Duran Varl›klar:
Menkul k›ymetleri oluflturan devlet tahvilleri ve hazine bonolar› tekrar
geri alma (repo) taahhütü ile sat›n al›nm›fl olup, söz konusu menkul
k›ymetler, iliflikteki mali tablolarda maliyet bedelleriyle gösterilmekte
ve ilgili repo anlaflmalar› uyar›nca elde edilecek faiz gelirleri, al›m
tarihleri ile repo vadeleri aras›ndaki sürede tahakkuk ettirilmektedir.
Finansal duran varl›klar maliyet bedelleri ile kaydedilmektedir.
Bedelsiz al›nan hisse senetleri nominal bedelleri üzerinden
kaydedilirler.
11.2.5. Yabanc› Para Birimi Kalemleri:
Dönem içerisinde yabanc› para birimi baz›ndaki ifllemler, ifllem
tarihinde geçerli olan döviz kurlar›ndan Türk Lira’s›na çevrilmifltir.
Bilançoda yer alan yabanc› para birimi baz›ndaki varl›klar ve
kaynaklar, bilanço tarihindeki TCMB döviz kurlar› kullan›larak TL’s›na
çevrilmifltir. Bu ifllemler sonucunda oluflan kur farklar› dönem kar›n›n
belirlenmesinde hesaba al›nm›flt›r.
11.2.6. Gelir Tahakkuku:
Gelirler mallar›n sevk edildi¤i tarihte oluflmaktad›r.
Gelir ve giderler tahakkuk esas›na göre kar-zarara intikal
ettirilmektedir.
11.2.7. K›dem Tazminat›:
Yürürlükteki kanunlara göre fiirket, emeklilik dolay›s›yla veya istifa ve
ifl kanununda belirtilen davran›fllar d›fl›ndaki sebeplerle istihdam›
sona eren çal›flanlara belirli bir toplu ödeme yapmakla yükümlüdür.
Bu yükümlülük, emeklilik veya iflten ayr›l›fl tarihinde geçerli olan
toplam ücret üzerinden her istihdam y›l› için 30 günlük ücret ve
di¤er haklar olarak hesaplan›r. K›dem tazminat› tavan› 31 Aral›k
2000 tarihi itibariyle 587.7 TL’d›r. 1 Ocak 2001’den sonra k›dem
tazminat› tavan› 614.7 TL olmufltur.
40
Land Improvements
Buildings
Machinery and equipment
Motor Vehicles
Furniture and Fixtures
Other Tangible Assets
Depreciation Rates
10-40%
2-4%
5-40%
20-40%
10-40%
10-40%
Tangible assets are insured to the extent of TL 27,388,176 as of
December 31, 2000 (1999: TL 13,896,613). This insurance amount
is less than that of the tangible assets by TL 234,893 (1999: TL
3,689,448).
11.2.2. Intangible Assets:
Intangible assets comprise trade names, rights and merger
balancing account, which resulted from the merger of Tabafl
Petrolcülük A.fi. and Turcas Petrolcülük A.fi.. The rights are
amortized in 5 to 15 years and the merger-balancing account is
amortized in 5 years.
11.2.3. Inventories:
Valuation of inventories is made on the average cost basis.
Inventories are stated at the lower of cost and net realisable value.
Costs include all costs incurred in bringing inventories to their
current state.
Inventories are insured to the extent of TL 8,599,551 as of
December 31, 2000 (1999: TL 4,436,693). This insurance amount
covers the total inventory amount.
11.2.4. Marketable Securities and Investments:
Marketable securities and government bonds are obtained through
repurchase agreements and are stated at cost. The interest income
accruals computed at period ends are reflected in marketable
securities.
Investments are reported at cost. Bonus shares received are
recorded at their nominal amount.
11.2.5. Foreign Currency Items:
Transactions denominated in foreign currencies are translated at
exchange rates prevailing at the dates of transactions. Balance
sheet items denominated in foreign currencies are translated at
Central Bank of Turkey exchange rates, prevailing at the balance
sheet dates. Foreign currency transaction gains or losses arising on
settlement and translation of foreign currency items are included in
the related income or expense amounts as appropriate for the year.
11.2.6. Revenue Recognition:
Revenues are recognised at the time of shipment of goods.
Revenues and expenses are recorded on accrual basis.
11.2.7. Provision for Retirement Pay Liability:
In accordance with existing social legislation in Turkey, the
Company is required to make certain lump-sum payments to
employees whose employment is terminated due to retirement or for
reasons other than resignation and misconduct. Such payments are
calculated on the basis of 30 days’ pay per year of employment at
the rate of pay applicable at the date of retirement or termination.
The retirement pay provision ceiling was TL 587.7 as of December
31, 2000 and is increased to TL 614.7 from January 1, 2001 on.
11.2.8. Di¤er Ola¤anüstü Gelirler ve Karlar:
Di¤er Ola¤anüstü Gelirler ve Karlar, dönem faaliyetleri ile ilgili
olmayan ve ar›zi bir karakter tafl›yan gelir ve kârlar›n yer ald›¤›
hesap kalemidir.
fiirket Not 33’te bahsedildi¤i gibi 30 Eylül 1999 tarihi itibariyle
Turcas Petrolcülük A.fi.’ni bütün aktif ve pasifleriyle devralm›fl ve
Turcas Petrolcülük A.fi. ayn› tarih itibariyle hesaplar›n› kapatm›flt›r.
Bu hesap kapamas› sonucunda Turcas Petrolcülük A.fi.’nin ilk
dokuz ayl›k kar rakam› olan 5,855,033 TL, 1999 y›l› "Ola¤anüstü
Gelirler ve Karlar" hesab› alt›nda gösterilmifltir.
fiirket birleflme neticesinde at›l kalan Körfez Dolum Tesisi’ni 29
Aral›k 1999 tarihinde ba¤l› ortakl›¤› olan Marmara Petrol ve Rafineri
‹flleri A.fi.’ye satm›fl ve bu sat›fltan toplam 4,263,751 TL sabit k›ymet
sat›fl kar› elde etmifltir. Bu sat›fl kar› da 1999 y›l› di¤er ola¤anüstü
gelirler içerisinde gösterilmifltir.
12. Tebli¤in 1 nolu ekinde belirtilen bilanço tarihinden sonra
ortaya ç›kan ve aç›klamay› gerektiren hususlara iliflkin bilgi:
fiirket yönetim kurulu 1 Mart 2001 tarihinde fiirket ödenmifl
sermayesinin 19,000,000 TL bedelli olmak üzere 7,330,233 TL’den
26,330,233 TL’ye yükseltilmesine karar vermifltir.
13. Tebli¤in 2 nolu ekinde belirtilen flarta ba¤l› zararlar ile her
türlü flarta ba¤l› kazançlara iliflkin bilgi (iflletmeyi borç alt›na
sokacak ve dönem sonucunu etkileyebilecek hukuki ihtilaflar›n
mahiyetleri bu bölümde aç›klan›r):
A.fi. iki adet gemi infla yat›r›m›na iliflkin teflvik belgelerine istinaden,
1999 y›l›nda yap›lmas› öngörülen yat›r›m harcamalar› için 1998 y›l›
kazanc›ndan 6,836,947 TL yat›r›m indiriminde bulunmufltur. 31
Aral›k 1999 tarihi itibariyle gerçekleflen yat›r›m harcamas› ise
5,113,281 TL olup, eksik gerçekleflen k›s›m yat›r›m indiriminin
%25’ine karfl›l›k gelmektedir. Eksik gerçekleflme oran›, indirilen
yat›r›m indirimi tutar›n›n %10’undan fazla oldu¤u için eksik
gerçekleflmeye isabet eden kurumlar vergisi ve fon pay›n›n tecil faizi
ile birlikte (bu k›sma isabet eden gelir vergisi stopajlar› hariç)
ödenmesi gerekmektedir. Eksik gerçekleflmeye isabet eden net
kurumlar vergisi ve fon pay› ile tecil faizlerinin 748,453 TL (1999:
474,008 TL) kadar olabilece¤i hesaplanm›flt›r. fiirket, eksik
gerçekleflmenin gemilerin inflas›n›n verildi¤i tersanenin deprem
nedeniyle içinde bulundu¤u mücbir sebep halinden kaynakland›¤›
gerekçesiyle, 18 Ocak 2000 tarihinde Maliye Bakanl›¤›’na süre
uzat›m› talebinde bulunmufltur.
11.2.8. Other Extraordinary Income:
Other Extraordinary Income comprises income and profit not related
to the Company’s ordinary operations.
As discussed in Note 33, the Company has acquired Turcas
Petrolcülük A.fi. with all of its assets and liabilities and Turcas
Petrolcülük A.fi. has closed its books of accounts on the same date.
After closing of accounts, Turcas Petrolcülük A.fi.’s profit related to
first nine months period, amounting TL 5,855,033 was shown under
"Other Extraordinary Income" of 1999.
Due to merger, the Company has sold its idle Körfez Filling
Establishment to its affiliated company, Marmara Petrol ve Rafineri
‹flleri A.fi. on December 29, 1999, and had a gain on these sales
amounting TL 4,263,751. This gain is also presented in other
extraordinary income of 1999.
12. Disclosure about subsequent events following the balance
sheet date, in accordance with paragraph number 1 of the decree:
The Board of Directors of the Company has unanimously agreed to
increase paid in capital of the Company from TL 7,330,233 to
TL 26,330,233 by TL 19,000,000 as paid capital.
13. Disclosure about contingent losses and gains as described
in paragraph number 2 of the decree (the nature of the legal
disputes that could cause additional liability to the entity and
that can affect the result of the period are to be disclosed in
this section):
The 1998 tax provision of Turcas Petrolcülük A.fi., taken over by the
Company as of September 30, 1999, was computed benefiting from
the Investment Incentive Certificates amounting TL 6,836,947 in
relation to the purchase of vessels. Total amount of investments
actually incurred as of December 31, 1999 amounted TL 5,113,281
corresponding to 75% of the investment benefit amount, with 25%
being under-realised. Since the under-realised part of the investment
is above 10% of the investment benefit amount, corporation taxes
and funds, together with the late payment charges (excluding income
taxes and related funds) have to be paid for the under-realised
amount. Such corporation taxes and funds including late payment
charges are estimated to be TL 748,453 (1999: TL 474,008). On
January 18, 2000, the Company applied to the Ministry of Finance for
the permission of period extension, explaining that the delay of the
investment was caused by the earthquake damage to the shipyard
where the vessels were being built.
fiirket Ankara’daki bir benzin istasyonunun patlamas› sonucu daval›
durumundad›r. fiirket’in olas› yükümlülü¤ü 700,000 TL’dir. fiirket
olmas› muhtemel bu yükümlülü¤ü için finansal tablolar›nda herhangi
bir karfl›l›k ay›rmam›flt›r. fiirket yönetimi davan›n fiirket aleyhine
sonuçlanma olas›l›¤›n›n düflük oldu¤unu ve sözkonusu davan›n
flirketin mali durumuna, nakit ak›fl›na ve operasyonlar›na önemli
ölçüde etki edebilecek bir durum oluflturmad›¤›n› belirtmifltir.
The Company is involved in a lawsuit as a defendant regarding an
explosion in a petrol station. The estimated liability of the Company
is TL 700,000. The Company has not made any provision in the
accompanying financial statements for this lawsuit. Based on the
information available to the Company and its lawyers, the Company
believes that pending and reasonably anticipated future actions will
not have a material adverse effect on its financial condition, results
of operations or cash flows.
14. ‹flletmenin gayri safi kar oranlar› üzerinde önemli ölçüde
etkide bulunan muhasebe tahminlerinde de¤iflikliklere iliflkin
bilgi ve bunlar›n parasal etkileri:
Yoktur.
14. Disclosure about the changes related with accounting
estimations that have an important effect on the profitability
ratios of the entity and the monetary effects of these:
None.
15. Aktif de¤erler üzerinde mevcut bulunan toplam ipotek veya
teminat tutarlar›:
Yoktur.
15. Total amount of mortgage or guarantees given on assets:
None.
16. Aktif de¤erlerin toplam sigorta tutar›:
31 Aral›k 2000 tarihi itibariyle, aktif de¤erlerin toplam sigorta tutar›
35,987,727 TL’d›r (1999: 19,694,308 TL).
17. Alacaklar için al›nm›fl olan ipotek ve di¤er teminatlar›n
toplam tutar›:
31 Aral›k 2000 tarihi itibariyle alacaklar için 15,523,770 TL tutar›nda
teminat mevcuttur (ipotek, banka teminat mektubu ve di¤er
teminatlar) (1999: 7,842,674 TL).
16. Total amount of insurance on assets:
Total insurance amount on assets as of December 31, 2000 is TL
35,987,727 (1999: TL 19,694,308).
17. Total amount of mortgage and other guarantees obtained
for receivables:
There are guarantees at the amount of TL 15,523,770 (1999: TL
7,842,674) for receivables (including mortgage, bank letter of
guarantees and other).
18. Pasifte yer almayan taahhütlerin toplam tutar›:
a) 31 Aral›k 2000 tarihi itibariyle verilen teminat mektuplar›n›n toplam
tutar› 15,953,532 TL (1999: 18,341,820 TL) ve 61,300,000 ABD
Dolar›’d›r (1999: 76,800,000 ABD Dolar›).
18. Total amount of the obligations that are not presented in the
balance sheet:
a) As of December 31, 2000, the total amount of the letters of
guarantee given is TL 15,953,532 (1999: TL 18,341,820), and USD
61,300,000 (1999: USD 76,800,000).
b) Yukar›da belirtilen banka teminat mektuplar›na iliflkin olarak; 2001
y›l›nda 2,784,000 ABD Dolar› ve uzun vadede 4,768,000 ABD Dolar›
teminat mektubu ve aval komisyonu ödenecektir.
b) In connection with the above mentioned bank letters of
guarantee, in 2001, USD 2,784,000 and in the long-term USD
4,768,000 will be paid as commission.
41
c) fiirket, ba¤l› ortakl›¤› olan Marmara Petrol ve Rafineri ‹flleri
A.fi.’nin HSBC Bank’tan kullanm›fl oldu¤u 5,000,000 ABD Dolar›
kredi için kefalet vermifltir.
c) The Company has given surety to its affiliated company,
Marmara Petrol ve Rafineri ‹flleri A.fi. for the loan obtained from
HSBC Bank, amounting USD 5,000,000.
d) fiirket’in Deutsche Bank A.G.-Londra’dan alm›fl oldu¤u kredi
Barclays Bank Plc’e devredilmifltir. Bu devir 4 Ekim 2000 tarihinde
Hazine Müsteflarl›¤›’nca onaylanm›flt›r. fiirket 69,600,000 ABD Dolar›
tutar›ndaki krediye iliflkin 2001 y›l›nda 4,315,200 ABD Dolar› ve uzun
vadede 7,390,400 ABD Dolar› kredi faizi ödeyecektir.
d) The bank borrowings obtained from Deutsche Bank have been
transferred to Barclays Bank PLC on September 13, 2000, and the
transfer was registered at the Undersecretary of Treasury on
October 4, 2000. The Company will pay an interest in the amount of
USD 4,315,200 in 2001 and USD 7,390,400 over the long-term
period in connection with the principle amount of USD 69,600,000.
e) fiirket Bayerische Landesbank’tan alm›fl oldu¤u 5 y›l vadeli
30,000,000 ABD Dolar› tutar›ndaki krediye iliflkin, 2001 y›l›nda
1,890,000 ABD Dolar› ve uzun vadede 1,890,000 ABD Dolar› kredi
faizi ödeyecektir. fiirket ayr›ca bu krediyle ilgili olarak 2001 y›l›nda
1,500,000 ABD Dolar› ve uzun vadede 1,500,000 ABD Dolar› kefalet
komisyonu ödeyecektir.
e) The Company will pay USD 1,890,000 short-term interest in 2001
and USD 1,890,000 long-term interest, over the 5 year-term loan of
USD 30,000,000 given by Bayerische Landesbank. Additionally, the
Company will pay surety commission in the amount of USD
1,500,000 in 2001 and USD 1,500,000 over the long-term period.
f) fiirket BNP-AK-Dresdner’den kullanm›fl oldu¤u 13 Kas›m 2001
vadeli 4,000,000 ABD Dolar› tutar›ndaki krediye iliflkin 2001 y›l›nda
301,447 ABD Dolar› kredi faizi ödeyecektir.
f) The Company will pay an interest in the amount of USD 301,447
in 2001 for the bank borrowings due on November 13, 2001
amounting USD 4,000,000 obtained from BNP AK Dresdner.
g) fiirket ABN Ambro Bank’tan alm›fl oldu¤u 22 Kas›m 2001 vadeli
5,000,000 ABD Dolar› tutar›ndaki krediye iliflkin 2001 y›l›nda 391,952
ABD Dolar› kredi faizi ödeyecektir.
g) The Company will pay an interest in the amount of USD 391,952
in 2001 for the bank borrowings due on November 22, 2001
amounting USD 5,000,000 obtained from ABN Ambro Bank.
h) fiirketin 31 Aral›k 2000 tarihi itibariyle finansal kiralama
taahhütlerinin tutar› 4,543 ABD Dolar›, 100 DM ve 3 TL’d›r (1999:
305,265 ABD Dolar›, 7,818 DM ve 536 TL).
h) There are lease obligations in the amounts of USD 4,543, DM
100 and, TL 3 as of December 31, 2000 (1999: USD 305,265, DM
7,818, TL 536).
›) fiirket Tüprafl Petrol Rafineri ‹flleri A.fi. ile yapt›¤› sözleflme gere¤i,
ald›¤› ürün miktar›, almay› taahhüt etti¤i miktardan negatif farkl›
olursa afla¤›daki belirtilen oranlarda ödeme yapmay› taahhüt
etmifltir;
i) According to an agreement made with Tüprafl Petrol Rafineri ‹flleri
A.fi., the Company has to purchase the quantities committed.
Otherwise, based on negative difference, the Company should pay
the following amounts as penalties;
Fark
%5-10
%15
%25
%25.01ve üzeri
(Ton/ABD $)
Beyaz Ürün
7
14
21
30
(Ton/ABD $)
Siyah Ürün
4
8
12
20
(US $/Tonnes) (US $/Tonnes)
White Product Black Product
7
4
14
8
21
12
30
20
19. Bankalardaki mevduat›n bloke olan›na iliflkin tutarlar:
Yoktur.
19. Amount of blocked cash at banks:
None.
20. Bilançoda maliyet bedeli üzerinden gösterilmifl menkul
k›ymetlerin ve finansal duran varl›klar›n borsa rayiçlerine göre,
borsa rayiçleri üzerinden gösterilmifl menkul k›ymetlerin ve
finansal duran varl›klar›n maliyet bedellerine göre de¤erlerini
gösteren bilgi:
Menkul k›ymetler ve finansal duran varl›klar maliyet bedeli ile
gösterilmifltir. 31 Aral›k 2000 tarihi itibariyle finansal duran varl›klar›n
borsa rayiç bedelleri yoktur (1999: Yoktur). Menkul k›ymetleri
oluflturan devlet tahvilleri ve hazine bonolar› tekrar geri alma (repo)
taahhütü ile sat›n al›nm›fl olup, söz konusu menkul k›ymetler,
iliflikteki mali tablolarda maliyet bedelleri olan 2,615,500 TL’›ndan
(1999: 2,300,400 TL) gösterilmektedir. Söz konusu menkul
k›ymetlerin vadeleri 02.01.2001’dir.
20. Disclosure of the market value of marketable securities and
investments which are stated at cost; and cost value of
marketable securities and investments which are stated at
market value in the financial statements:
Marketable securities and investments are stated at cost value in
the financial statements. There is no market value of investments as
of December 31, 2000 (1999: None). Marketable securities
comprising of government bonds and treasury bills have been
purchased under repurchasing agreement and shown at cost of TL
2,615,500 (1999: TL 2,300,400). The due date of this transaction is
on January 2, 2001.
21. Menkul k›ymetler ve ba¤l› menkul k›ymetler grubu içinde yer
al›p iflletmenin ortaklar›, ifltirakleri ve ba¤l› ortakl›klar taraf›ndan
ç›kar›lm›fl bulunan menkul k›ymet tutarlar› ve bunlar› ç›karan
ortakl›klar:
Yoktur.
22. Mali tablolardaki "di¤er" ibaresini tafl›yan hesap
kalemlerinden dahil oldu¤u grubun toplam tutar›n›n %20’sini
veya bilanço aktif toplam›n›n %5’ini aflan kalemlerin ad ve
tutarlar›:
22.1. Di¤er Haz›r De¤erler:
Tahsildeki günlük çeklerden oluflmaktad›r.
22.2. Di¤er Maddi Duran Varl›klar:
Di¤er maddi duran varl›klar d›flar›ya (bayilere) hizmete verilen
istasyon araç ve gereçleriyle ve yine bayilerin istasyonlar›ndaki
reklam malzemelerinden, tesislerde kullan›lan alet edevattan ve özel
maliyetten oluflmaktad›r.
22.3. Di¤er Maddi Olmayan Duran Varl›klar:
Di¤er maddi olmayan duran varl›klar, Devir Denklefltirme
Hesab›’ndan oluflmaktad›r. Bu hesap Tabafl Petrolcülük A.fi.’nin 30
42
Difference
5-10%
15 %
25 %
25.01% and over
21. Marketable securities that are included in securities in the
balance sheets but issued by the entity’s shareholders,
affiliated companies and investees, and the companies that
issue these:
None.
22. Description and amount of the items included in "other"
captions exceeding 20% of the account group or 5% of the total
assets:
22.1. Other Liquid Assets:
These include daily cheques at collection.
22.2. Other Tangible Assets:
Other tangible assets comprise fixtures and advertising equipment
given to dealers to be used at the stations, other fixtures, and
leasehold improvements.
22.3. Other Intangible Assets:
Other tangible assets comprise Merger Balancing Account. Merger
Balancing Account, which was computed on financial statements as
of September 30, 1999, is composed of two accounts; equity
Eylül 1999 tarihi itibariyle Turcas Petrolcülük A.fi.’ni devralmas›
sonucu mali tablolar üzerinde oluflmufltur. Bu hesap iki kalemden
oluflmaktad›r; devir ifllemi sonucunda do¤an özsermaye fark›, yani
birleflme sonras› devral›nan aktif ve pasiflerle Tabafl Petrolcülük
A.fi.’nin kendi aktif ve pasiflerinin toplanmas› sonucu oluflan
4,669,767 TL pozitif fark ve Tabafl Petrolcülük A.fi.’nin Turcas
Petrolcülük A.fi.’ye ifltirak tutar› olan 50,019,652 TL’n›n birleflme
nedeniyle Tabafl Petrolcülük A.fi. bilançosundan ç›kar›lmas› sonucu
oluflan negatif fark, toplam olarak 45,349,885 TL devir denklefltirme
hesab› yaratmaktad›r. Devir denklefltirme hesab› k›st metodu ve
normal amortisman yöntemi uygulanarak 5 sene içinde itfa olacakt›r.
difference resulting from merger, i.e., positive difference amounting
TL 4,669,767 resulting from the sum of assets and liabilities which
were transferred by Tabafl Petrolcülük A.fi.; and negative difference
amounting TL 45,349,885 resulting from the deduction of
intercompany investment amounting TL 50,019,652 of Tabafl
Petrolcülük A.fi. in Turcas Petrolcülük A.fi. from the balance sheet
of Tabafl Petrolcülük A.fi. The Merger Balancing Account will be
amortised in 5 years using straight-line method on a pro-rata basis.
22.4. Di¤er Borç ve Gider Karfl›l›klar›:
Provision for advertising expense
Provision for financing expense
Provision for other expenses
Reklam giderleri karfl›l›¤›
Finansman gideri karfl›l›¤›
Di¤er gider karfl›l›klar›
2000
108,971
76,189
2,931
1999
159,837
334,137
2,387
188,091
496,361
22.4. Provision for Other Liability and Expenses:
2000
108,971
76,189
2,931
1999
159,837
334,137
2,387
188,091
496,361
22.5. Other Long-Term Liabilities:
Other long-term liabilities include unearned rent income.
22.5. Uzun Vadeli Di¤er Borçlar:
31 Aral›k tarihleri itibariyle uzun vadeli di¤er borçlar gelecek y›llara
ait peflin tahsil edilen kira gelirlerinden oluflmaktad›r.
22.6. Taxes and Duties Payable:
Taxes and duties payable comprise the following as of December 31.
22.6. Ödenecek Vergi, Harç ve Di¤er Kesintiler:
31 Aral›k tarihleri itibariyle ödenecek vergi, harç ve di¤er kesintiler
afla¤›daki gibidir
Corporate tax
Income tax (on payroll)
Payable to SSK
VAT payable
Others
Kurumlar vergisi
Gelir vergisi (Maafllar üzerindeki)
Sosyal Sigorta Kurumu’na borçlar
Katma De¤er Vergisi
Di¤er
2000
94,490
76,515
14,344
10,075
1999
1,869,114
63,556
15,628
1,581,929
45,535
195,424
3,573,792
22.7. Faaliyetlerle ilgili Di¤er Gelirler ve Karlar:
31 Aral›k tarihleri itibariyle faaliyetlerle ilgili di¤er gelirler ve karlar
afla¤›daki gibidir
Komisyon geliri
Kur fark› geliri
Bayilik hakk› geliri
Servis geliri
Kira geliri
Di¤er
2000
4,413,330
826,838
372,060
21,850
18,535
51,984
1999
550,777
147,930
62,729
106,329
188,043
265,968
5,704,597
1,321,776
23. "Di¤er Alacaklar’’ ile ‘’Di¤er K›sa veya Uzun Vadeli Borçlar’’
hesap kalemi içinde bulunan ve bilanço aktif toplam›n›n yüzde
birini aflan, personelden alacaklar ile personele borçlar
tutarlar›n›n ayr› ayr› toplamlar›:
31 Aral›k 2000 tarihi itibariyle personelden alacaklar 50,483 TL’d›r
(1999: 49,819 TL).
24. Ortaklar, ifltirakler ve ba¤l› ortakl›klardan alacaklar nedeniyle
ayr›lan flüpheli alacak tutarlar› ve bunlar›n borçlular›:
Yoktur.
25. Vadesi gelmifl bulunan ve henüz vadesi gelmeyen alacaklar
için ayr›lan flüpheli alacak tutarlar›:
31 Aral›k 2000 tarihi itibariyle, flüpheli alacak karfl›l›¤› 212,975 TL’d›r
(1999: 93,289 TL).
26. ‹flletme ile dolayl› sermaye ve yönetim iliflkisine sahip
ifltirakler ve ba¤l› ortakl›klar›n dökümü ile ifltirakler ve ba¤l›
ortakl›klar hesab›nda yer alan ortakl›klar›n isimleri ve ifltirak
oran ve tutarlar›:
2000
2000
94,490
76,515
14,344
10,075
1999
1,869,114
63,556
15,628
1,581,929
45,535
195,424
3,573,792
22.7. Other Operating Income:
Other operating income comprises the following as of December 31.
Commission income
Foreign exchange income
Agent-right income
Service income
Rent income
Others
2000
4,413,330
826,838
372,060
21,850
18,535
51,984
1999
550,777
147,930
62,729
106,329
188,043
265,968
5,704,597
1,321,776
23. Total amount of due from and due to personnel included in
the accounts "Other Receivables" and "Other Short Term or
Long-Term Payables" and exceeding 1% of the total assets:
At December 31, 2000, the receivable from personnel is TL 50,483
(1999: TL 49,819).
24. Provision for doubtful receivables from shareholders,
affiliated companies and investees:
None.
25. Provision for doubtful receivables that are already due or
not yet due:
Provision for doubtful receivables as of December 31, 2000 is TL
212,975 (1999: TL 93,289).
26. Breakdown of affiliated companies and investees in which
there is a direct or indirect ownership by the Company. The
names of such companies included in the account "Affiliated
Companies and Investees"; the percentage of the ownership
and the amount:
2000
1999
Investees
Percentage Amount Percentage Amount
Ambarl› Depolama Hizmetleri Ltd. fiti.
50%
250
50%
250
Affiliated Companies
Marmara Petrol ve Rafineri ‹flleri A.fi.
99.9% 2,154,802
99.9% 2,154,802
1999
‹fltirakler
Ambarl› Depolama Hizmetleri Ltd. fiti.
Oran
%50
Tutar
250
Oran
%50
Tutar
250
Ba¤l› ortakl›klar
Marmara Petrol ve Rafineri ‹flleri A.fi.
%99.9
2,154,802
%99.9
2,154,802
The net income of Ambarl› Depolama Hizmetleri Ltd. fiti. for the year
ended December 31, 2000 amounted to TL 24,292 (1999: TL
19,519) and the net income of Marmara Petrol ve Rafineri ‹flleri A.fi.
for the year ended December 31, 2000 amounted to TL 303,410
(1999: TL 293,090). The financial statements of both companies
Ambarl› Depolama Hizmetleri Ltd. fiti.’nin 31 Aral›k 2000 tarihinde
sona eren y›la ait net dönem kar› 24,292 TL (1999: 19,519 TL),
43
Marmara Petrol ve Rafineri ‹flleri A.fi.’nin 31 Aral›k 2000 tarihinde
sona eren y›la ait net dönem kar› 303,410 TL (1999: 293,090 TL)’d›r.
Her iki flirketin bilançolar› Sermaye Piyasas› Kurulu standartlar›na
göre haz›rlanmam›fl ve bu standartlara göre ba¤›ms›z denetime tabi
tutulmam›flt›r.
27. ‹fltirakler ve ba¤l› ortakl›klarda içsel kaynaklardan yap›lan
sermaye art›r›m› nedeniyle elde edilen bedelsiz hisse senedi
tutarlar›:
Yoktur (1999: Marmara Petrol ve Rafineri ‹flleri A.fi. tamam› maliyet
art›fl fonundan olmak üzere toplam sermayesini 150,000 TL’den
1,090,000 TL’ye ç›kartm›fl ve karfl›l›¤›nda fiirket’e 940,000 TL
tutar›nda bedelsiz hisse senedi vermifltir).
28. Tafl›nmazlar üzerinde sahip olunan ayni haklar ve bunlar›n
de¤erleri:
Yoktur.
29. Duran varl›klarda yap›lan yeniden de¤erleme tutarlar›:
Yeniden De¤erleme
238,884
3,949,317
5,385,761
1998
1999
2000
30. Yabanc› paralarla temsil edilen ve kur garantisi olmayan
alacak ve borçlar ile aktifte mevcut yabanc› paralar›n ayr› ayr›
tutarlar› ve TL'na dönüfltürülme kurlar›:
UV Banka Kredileri
KV Banka Kredileri ve
UV Kredi anapara taksit
ve faizleri
KV Banka kredileri
faiz gider karfl›l›¤›
Döviz Tevdiat Hesab›
Sat›c›lara borçlar
UV Banka Kredileri
KV Banka Kredileri
Döviz Tevdiat Hesab›
2000
Cinsi Yabanc› Para Tutar›
ABD $
67,680,000
27. Free shares acquired due to the capital increase of
investees and affiliated companies made from the revaluation
reserve:
None (1999: Marmara Petrol ve Rafineri ‹flleri A.fi. has increased its
share capital from TL 150,000 to TL 1,090,000 from cost increment
fund and as a result of this increase the Company has obtained
bonus shares amounting TL 940,000).
28. Rights on immovable assets and their value:
None.
29. Amount of the revaluation increment on tangible assets:
Revaluation Surplus
238,884
3,949,317
5,385,761
1998
1999
2000
30. Assets and liabilities of the Company denominated in
foreign currencies and the amount of foreign currency deposits
included in assets; and the foreign exchange rates used for
translating them into TL are as follows:
Currency
USD
Kur
675,004
TL Tutar›
45,684,271
ABD $
41,350,989
675,004
27,912,083
ABD $
ABD $
ABD $
DEM
ITL
JPY
112,867
76,376
5,653,964
434,000
294,860,020
323,408
675,004
671,765
675,004
317,790
32,100
5,981
76,186
51,307
3,816,448
137,921
94,650
1,934
1999
Cinsi Yabanc› Para Tutar›
ABD $
79,600,000
ABD $
33,000,000
ABD $
1,368,612
were not prepared in accordance with generally accepted
accounting principles promulgated by Capital Market Board and
were not audited.
Kur
542,703
542,703
540,098
TL Tutar›
43,199,159
17,909,199
739,185
31. Ortaklar, ifltirakler ve ba¤l› ortakl›klar lehine verilen garanti,
taahhüt, kefalet, avans, ciro gibi yükümlülüklerin tutar›:
Ba¤l› ortak Marmara Petrol ve Rafineri ‹flleri A.fi.’nin HSBC Bank’tan
kullanm›fl oldu¤u 5,000,000 ABD Dolar› tutar›ndaki kredinin teminat›
olarak kefalet verilmifltir.
L/T Bank Borrowings
S/T Bank Borrowings and
S/T portion of
L/T bank borrowings
Accrued interest expense
on borrowings
Deposits in foreign currency
Account payables
Account payables
Account payables
Account payables
2000
FC Amount Exchange Rate TL Amount
67,680,000
675,004 45,684,271
USD
41,350,989
675,004
27,912,083
USD
USD
USD
DEM
ITL
JPY
112,867
76,376
5,653,964
434,000
294,860,020
323,408
675,004
671,765
675,004
317,790
32,100
5,981
76,186
51,307
3,816,448
137,921
94,650
1,934
Currency
L/T Bank Borrowings
USD
S/T Bank Borrowings
USD
Deposits in foreign currency
USD
1999
FC Amount Exchange Rate TL Amount
79,600,000
542,703 43,199,159
33,000,000
542,703 17,909,199
1,368,612
540,098
739,185
31. Amount of commitments given to shareholders, affiliated
companies and investees in the form of guarantees, sureties,
advances, etc.:
The Company has given surety to its affiliated company, Marmara
Petrol ve Rafineri ‹flleri A.fi. for the loan obtained from HSBC Bank,
amounting USD 5,000,000.
32. Average number of personnel that worked during the year:
32. Kategorileri itibariyle y›l içinde çal›flan personelin ortalama
say›s›:
Memur
‹flçi
2000
160
35
1999
148
37
Toplam
195
185
33. Mali tablolar› önemli ölçüde etkileyen ya da mali tablolar›n
aç›k, yorumlanabilir ve anlafl›labilir olmas› aç›s›ndan
aç›klanmas› gerekli olan di¤er hususlar:
33.1. Birleflme ‹fllemleri:
Tabafl Petrolcülük A.fi. Yönetim Kurulu 20 Eylül 1999 tarihinde
Ortaklar Ola¤an Genel Kurulu’nu toplayarak flirketin Turcas
Petrolcülük A.fi.’ni devralmas› karar›n› alm›flt›r. Birleflme ve devrolma
30 Eylül 1999 tarihi itibariyle tamamlanm›fl, Turcas Petrolcülük
A.fi.’nin tüm aktif ve pasifi ile birlikte Tabafl Petrolcülük A.fi.’ne devir
ifllemi yap›lm›flt›r. Ayn› tarih itibariyle Tabafl Petrolcülük A.fi.’nin ticari
ünvan› Turcas Petrol A.fi. olarak de¤ifltirilmifltir.
fiirket’in 30 Eylül 1999 tarihi itibariyle Turcas Petrolcülük A.fi.’ni
44
White collar
Blue collar
Total
2000
160
35
1999
148
37
195
185
33. Other items that can affect financial statements or
considered as necessary in order to make financial statements
clear, reasonable and understandable:
33.1. Merger
In annual General Meeting of Tabafl Petrolcülük A.fi. held on
September 20, 1999, it was decided to merge with Turcas
Petrolcülük A.fi.. The merger was completed on September 30,
1999 and Turcas Petrolcülük A.fi. was transferred to Tabafl
Petrolcülük A.fi with all of its assets and liabilities. The commercial
title of Tabafl Petrolcülük A.fi was changed to Turcas Petrol A.fi. as
of the same date.
The Company has acquired Turcas Petrolcülük A.fi. with all of its
assets and liabilities and Turcas Petrolcülük A.fi. has closed its
books of accounts on the same date. After closing of accounts,
bütün aktif ve pasifleriyle devralmas› için Turcas Petrolcülük A.fi.
ayn› tarih itibariyle hesaplar›n› kapatm›flt›r. Bu hesap kapamas›
sonucunda Turcas Petrolcülük A.fi.’nin ilk dokuz ayl›k kar rakam›
olan 5,855,033 TL, 31 Aral›k 1999 tarihli ayr›nt›l› gelir tablosunda
"Ola¤anüstü Gelirler ve Karlar" hesab› alt›nda gösterilmifltir.
Turcas Petrolcülük A.fi.’nin 30 Eylül 1999 tarihi itibariyle dokuz ayl›k
gelir tablosu ana bafll›klar›yla afla¤›daki gibidir;
Net Sat›fllar
212,186,602
Sat›fllar›n Maliyeti
(197,012,509)
Brüt Sat›fl Kar›
15,174,093
Faaliyet Giderleri
(4,990,337)
Faaliyet Kar›
10,183,756
Di¤er Faaliyetlerden Ola¤an Gelir ve Karlar
2,276,859
Di¤er Faaliyetlerden Ola¤an Gider ve Zararlar (-)
(526,796)
Finansman Giderleri (-)
(3,008,132)
Ola¤an Kar
8,925,687
Ola¤and›fl› Gelir ve Karlar
44,876
Ola¤and›fl› Gider ve Zararlar(-)
(5,002)
Dönem Kar›
8,965,561
Dönem Kar› Vergi ve Di¤er Yasal Yükümlülükler Karfl›l›¤› (3,110,528)
Dönem Net Kar›
5,855,033
Birleflme ifllemi nedeniyle 30 Eylül 1999 tarihli mali tablolar
üzerinden hesaplanan devir denklefltirme hesab› sadece iki
kalemden oluflmaktad›r; devir ifllemi neticesinde do¤an özsermaye
fark›, yani birleflme sonras› devral›nan aktif ve pasiflerle Tabafl
Petrolcülük A.fi.’nin kendi aktif ve pasiflerinin toplanmas› sonucu
oluflan 4,669,767 milyon TL pozitif fark ve Tabafl Petrolcülük A.fi.’nin
Turcas Petrolcülük A.fi.’ye ifltirak tutar› olan 50,019,652 milyon
TL’n›n birleflme nedeniyle Tabafl Petrolcülük A.fi. bilançosundan
ç›kar›lmas› sonucu oluflan negatif fark, toplam olarak 45,349,885
milyon TL devir denklefltirme hesab› yaratmaktad›r. Devir
denklefltirme hesab› k›st metodu ve normal amortisman yöntemi
uygulanarak 5 sene içinde itfa olacakt›r.
33.2. Di¤er:
4 Nisan 2000 tarihinde toplanan fiirket yönetim kurulu fiirket’in
ödenmifl sermayesini 7,330,233 TL’den; 7,330,233 TL’s› bedelsiz,
1,540,000 TL’s› bedelli olmak üzere toplam 8,870,233 TL artt›rarak
16,200,466 TL’s›na ç›kartma karar› alm›flt›r. 15 Aral›k 2000 tarihinde
gerçekleflen ola¤anüstü genel kurul toplant›s›nda, daha önce
verilmifl bulunan sözkonusu sermaye art›r›m› karar› iptal edilmifltir.
Türkpetrol Vakf› ile 17 Haziran 2006 y›l›nda dolacak olan lisans
hakk› anlaflmas›, 29 A¤ustos 2000 tarihinde imzalanan ek protokolle
ayn› flartlarla 17 Haziran 2012 tarihine kadar uzat›lm›flt›r. Bununla
ilgili fiirket, Türkpetrol Vakf›’na ek protokol tarihinde 600,000 ABD
Dolar› ödemifl ve sataca¤› beyaz ürünlerde ton bafl›na 17 Haziran
2006 tarihine kadar 0.30 ABD Dolar›, 17 Haziran 2006 - 17 Haziran
2012 tarihleri aras›nda ise 0.35 ABD Dolar› ilave lisans bedeli
ödemeyi taahhüt etmifltir.
Turcas Petrolcülük A.fi. net income related to first nine months
period, amounting TL 5,855,033, was shown in "Other Extraordinary
Income" account.
For the nine months ended as of September 30, 1999, the profit of
Turcas Petrolcülük A.fi. was as follows;
Net Sales
Cost of Sales
Gross Margin
Operating Expenses
Operating Income
Other Operating Income
Other Operating Expenses (-)
Financing Expense (-)
Net Operating Income or Loss
Extraordinary Income
Extraordinary Expenses (-)
Profit
Taxes on Income
Net Profit
212,186,602
(197,012,509)
15,174,093
(4,990,337)
10,183,756
2,276,859
(526,796)
(3,008,132)
8,925,687
44,876
(5,002)
8,965,561
(3,110,528)
5,855,033
Merger balancing account, which was computed on financial
statements as of September 30, 1999 composed of two accounts;
equity difference resulting from merger, i.e, positive difference
amounting TL 4,669,767 which resulted from the sum of assets and
liabilities, which were transferred by Tabafl Petrolcülük A.fi., and
negative difference amounting TL 45,349,885 which resulted from
the deduction of intercompany investment amounting TL 50,019,652
of Tabafl Petrolcülük A.fi. in Turcas Petrolcülük A.fi. from balance
sheet of Tabafl Petrolcülük A.fi.. Merger balancing account is
amortised in 5 years using straight-line method on a pro-rata basis.
33.2. Others
Board of Directors of the Company has decided to increase paid up
share capital from TL 7,330,233 to TL 16,200,466. TL 7,330,233 will
be provided from revaluation fund whereas TL 1,540,000 will be
injected from emission premiums. The resolution has been
cancelled, with a contrary resolution taken at the general assembly
at December 15, 2000.
According to the side-agreement signed with Türkpetrol Vakf› on 29
August 2000, the ‘Right of Licence’, which would expire on 17 June
2000 has been extended with the existing terms until 17 June 2012.
Accordingly, since Turcas Petrol A.fi. did not use its right to cancel
and due to the extension of the Right of Licence for 6 years from 17
June 2006 to 17 June 2012, the Company has committed to pay
USD 600,000 to Türkpetrol Vakf› at the date of the side-agreement.
Additionally, the Company has committed to make license fee
2000 senesi içinde ve 31 Aral›k 2000 tarihini müteakiben, Türkiye’de
önemli ekonomik sorunlar yaflanmaktad›r. Bu sorunlar›n bafll›calar›,
iç borçlanma senetlerinin ve hisse senetlerinin fiyatlar›nda ani düflüfl
yaflanmas›, ve kamu ve özel sektör borçlanmalar›na iliflkin faiz
oranlar›n›n h›zla yükselmesidir. Hükümet, bu sorunlar neticesinde
banka sisteminde yaflanan likidite krizini aflmak amac›yla, 21 fiubat
2001 tarihinde Türk Liras›’n› serbest dalgalanmaya b›rakm›fl, ve bu
karar, ilk gün içinde, Türk Liras›’n›n Amerikan Dolar› karfl›s›nda %28
oran›nda de¤er kaybetmesine yol açm›flt›r. 23 fiubat 2001 tarihi
itibariyle Türk Liras› belli bafll› yabanc› para birimleri karfl›s›nda 31
Aral›k 2000 tarihinde geçerli kurlar ile karfl›laflt›r›ld›¤›nda önemli
ölçülerde de¤er kayb›na u¤ram›flt›r. Söz konusu de¤er kayb›
Amerikan Dolar› karfl›s›nda %37 olmufltur. fiirket’in mali durumu ve
gelecekteki faaliyetleri ve nakit ak›mlar› süregiden bu ekonomik
45
sorunlardan olumsuz yönde etkilenebilecektir. fiirket yönetimi,
yaflanmakta olan ekonomik sorunlar›n gelecekteki boyutlar›n›,
ciddiyetini ve süresini önceden tahmin edemedi¤i gibi bu sorunlar›n
fiirket’in flu anki mali durumu ve/veya gelecekteki faaliyetleri ve nakit
ak›mlar› üzerinde yapaca¤› etkiyi de belirleyememektedir.
34. Dönemin vergi karfl›l›klar›:
31 Aral›k 2000 itibariyle, fiirket %30 oran›nda kurumlar vergisi ve
toplam %10’a ulaflan çeflitli fon kesintileri ile birlikte toplam %33
oran›nda vergiye tabidir. Buna ilave olarak, kurum kazanc›ndan
kurumlar vergisi düflüldükten sonra kalan tutar, sadece temettü
da¤›t›lmas› halinde, %5 oran›nda gelir vergisine tabidir.
31 Aral›k tarihleri itibariyle hesaplanan vergi karfl›l›klar› afla¤›daki
gibidir:
2000
1999
Ticari kar/(zarar)
(12,331,566)
370,621
‹laveler
11,925,341
4,997,326
‹ndirimler
(8,672,005)
(10,056,200)
Kurumlar vergisi matrah›
(9,078,230)
(4,688,253)
Kurumlar vergisi
Gelir vergisi stopaj matrah›
Gelir vergisi
Toplam vergi karfl›l›¤›
-
46
payments amounting to USD 0.30 per ton of white goods sold until
17 June 2006. These particular payments will be raised to USD 0.35
per ton of white goods sold in the period between 17 June 2006
and 17 June 2012.
34. Provision for taxes:
As of December 31, 2000, the Company is subject to 30%
corporation tax and 10% funds deduction on corporation tax, thus
effective corporation tax rate is 33%. Additionally, the Company
may be subject to an income tax, which will be applicable when
dividends will be distributed and at a rate of 5%.
The tax provisions as of December 31, are as follows:
Net profit/(loss) for the year
Additions
Deductions-dividend income
from investments
Corporate income
Accumulated losses
Base for corporation tax
2000
(12,331,566)
11,925,341
1999
370,621
4,997,326
(8,672,005)
(9,078,230)
-
(10,056,200)
(4,688,253)
-
31 Aral›k 2000 ve 1999 Tarihlerinde Sona Eren Hesap
Dönemlerine Ait Gelir Tablolar› Dipnotlar›
(Birim - Aksi belirtilmedikçe Milyon Türk Liras›)
Notes to the Statements of Income for the Years Ended
(Currency - Millions of Turkish Lira unless otherwise stated)
1. Dönemin tüm amortisman giderleri ile itfa ve tükenme paylar›:
1. Total depreciation and amortisation expenses for the periods:
2000
Amortisman giderleri
Normal amortisman giderleri
Yeniden de¤erlemeden do¤an
amortisman giderleri
‹tfa ve tükenme paylar›
1999
1,999,634
418,168
819,850
9,339,979
358,152
2,341,818
2. Dönemin reeskont ve karfl›l›k giderleri:
Alacak reeskontu
fiüpheli alacak karfl›l›¤›
K›dem tazminat› karfl›l›¤›
2000
314,024
148,924
300,267
1999
1,999,634
418,168
819,850
9,339,979
358,152
2,341,818
2000
314,024
148,924
300,267
1999
393,521
48,803
17,436
2000
621,850
23,923,529
1999
108,448
18,033,585
2. Provisions and discount expenses:
1999
393,521
48,803
17,436
3. Dönemin tüm finansman giderleri:
Üretim maliyetine verilenler
Duran varl›klar›n maliyetine verilenler
Do¤rudan gider yaz›lanlar
2000
Depreciation expense
Depreciation expense on historic cost
Depreciation expense on revaluation
increment
Amortisation expense
Discount expense
Provision for doubtful receivables
Provision for retirement pay liability
3. All financing expenses of the period:
2000
621,850
23,923,529
1999
100,448
18,033,585
4. Dönemin finansman giderlerinden ortaklar, ba¤l› ortakl›k ve
ifltiraklerle ilgili k›sm›n tutar› (Toplam tutar içindeki paylar›
%20’yi aflanlar ayr›ca gösterilecektir):
Yoktur.
5. Ortaklar, ba¤l› ortakl›k ve ifltiraklerle yap›lan sat›fl ve al›fllar
(Toplam tutar içindeki paylar› %20’yi aflanlar ayr›ca
gösterilecektir):
a) 31 Aral›k 2000 tarihinde biten hesap dönemi içinde, ortaklar,
ifltirakler ve ba¤l› ortakl›klara 39,724,831 TL (1999: 6,680,561 TL)
tutar›nda sat›fl yap›lm›flt›r.
b) 31 Aral›k 2000 tarihinde biten hesap dönemi içinde, ortaklar,
ifltirakler ve ba¤l› ortakl›klardan 43,741,550 TL (1999: 11,521,520
TL) tutar›nda al›fl yap›lm›flt›r. Bu al›fllar›n tümü Marmara Petrol
Rafineri A.fi.’den yap›lm›flt›r.
6. Ortaklar, ba¤l› ortakl›k ve ifltiraklerden al›nan ve bunlara
ödenen faiz, kira ve benzerleri (Toplam tutar içindeki paylar›
% 20’yi aflanlar ayr›ca gösterilecektir):
fiirket’in 31 Aral›k 2000 tarihinde biten hesap dönemi içinde ortaklar,
ba¤l› ortaklar ve ifltiraklerden 13,881 TL tutar›nda faiz gideri (1999:
54,586 TL) ve 288,220 TL (1999: 317,334 TL) tutar›nda servis
hizmet gideri mevcuttur. fiirket’in 31 Aral›k 2000 tarihinde biten
hesap dönemi içinde ortaklar, ba¤l› ortaklar ve ifltiraklerden kira
geliri yoktur (1999: 77,250 TL). fiirket ayr›ca 31 Aral›k 2000 tarihinde
biten hesap dönemi içinde 7,335 TL tutar›nda temettü geliri elde
etmifltir.
fiirket 1999 y›l›nda Körfez Dolum Tesisi’ni Marmara Petrol ve Rafineri
‹flleri A.fi.’ne satm›fl ve bu sat›fltan toplam 4,263,751 TL sabit k›ymet
sat›fl kar› elde etmifltir. Bu sat›fl kar› 1999 y›l› di¤er ola¤anüstü
gelirleri içerisinde gösterilmifltir.
7. Yönetim kurulu baflkan ve üyeleriyle genel müdür, genel
koordinatör, genel müdür yard›mc›lar› gibi üst yöneticilere cari
dönemde sa¤lanan ücret ve benzeri menfaatlerin toplam tutar›:
fiirket’in üst yöneticilere cari dönemde sa¤lad›¤› ücret ve benzeri
menfaatlerin toplam› 272,258 TL’d›r (1999: 43,410 TL).
8. Amortisman hesaplama yöntemleri ile bu yöntemlerde
yap›lan de¤iflikliklerin dönemin amortisman giderlerinde
meydana getirdi¤i art›fl (+) veya azal›fl (-):
Yoktur.
9. Stok maliyeti hesaplama sistemleri (safha veya siparifl
maliyeti gibi) ve yöntemleri (a¤›rl›kl› ortalama maliyet, ilk giren
ilk ç›kar, hareketli ortalama maliyet gibi):
Stoklar, a¤›rl›kl› ortalama maliyet yöntemi kullan›larak
de¤erlendirilmektedir.
Capitalised in cost of production
Capitalised on long term assets
Recorded directly to expense
4. Amount of the financing expenses for the period related with
shareholders, investees and affiliated companies (The financing
expenses exceeding 20% will be shown separately):
None.
5. Transactions with affiliated parties (Those exceeding 20% will
be shown separately):
a) During the year ended December 31, 2000, sales to
shareholders, investees and affiliated companies amounted to TL
39,724,831 (1999: TL 6,680,561).
b) During the year ended December 31, 2000, the amount of
purchases from shareholders, affiliated companies and investees is
TL 43,741,550 (1999: TL 11,521,520). All of these purchases are
made from Marmara Petrol Rafineri A.fi..
6. Interest, rent or other types of transactions paid to or
received from shareholders, investees and affiliated companies:
(Those exceeding 20% will be shown separately):
During the year ended December 31, 2000, there is interest
expense and service expense paid to shareholders, investees and
affiliated companies amounted to TL 13,881 (1999: TL 54,586) and
TL 288,220 (1999: TL 317,334), respectively. There was dividend
income amounting to TL 7,335. During the year ended December
31, 2000, there is no rent income (1999: TL 77,250) from
shareholders, investees and affiliated companies.
The Company has sold Körfez Filling Establishment to its affiliated
company, Marmara Petrol ve Rafineri ‹flleri A.fi. on December 29,
1999, and had a gain on this sales amounting TL 4,263,751. This
gain is presented in other extraordinary income account of 1999.
7. Total amount of salaries and similar benefits provided to
Board of Directors, General Manager, General Coordinator and
Assistant General Managers during the period:
The salaries and benefits provided to the top management by the
Company is TL 272,258 (1999: TL 43,410).
8. Increases (+) or decreases (-) on related period’s depreciation
expense as a result of changes made in depreciation methods:
None.
9. Inventory valuation systems (process costing or order
costing) and methods (weighted average, fist in first out,
moving average etc.):
Valuation of inventories is made on weighted average cost basis.
10. If applicable, the reasons for not performing the stock count
fully or partially:
Inventories were physically counted.
10. Varsa, tamamen veya k›smen fiili stok say›m›
yap›lamamas›n›n gerekçeleri:
Stok say›m› yap›lm›flt›r.
47
11. Yurtiçi ve yurtd›fl› sat›fllar hesap kalemi içinde yer alan ürün,
hurda, döküntü gibi maddelerin sat›fllar› ile hizmet sat›fllar›n›n
ayr› ayr› toplamlar›n›n brüt sat›fllar›n yüzde yirmisini aflmas›
halinde bu madde ve hizmetlere iliflkin tutarlar:
Bu tür sat›fllar›n toplamlar› brüt sat›fllar›n %20’sini aflmamaktad›r.
11. Amount of service income and revenues from sales of scrap
or damaged goods, which are included in the account titled
"Local and Foreign Sales" are to be disclosed in the case they
exceed 20% of the total gross sales:
Such revenues are not above 20% of total sales.
12. ‹flletmenin, varsa, sat›fllar›yla ilgili teflvik ve sübvansiyonlar
hakk›nda bilgi:
Yoktur.
12. Information about incentives and subventions regarding
sales:
None.
13. Önceki döneme iliflkin gelir ve karlar ile önceki döneme ait
gider ve zararlar›n tutarlar›n› ve kaynaklar›n› gösteren aç›klay›c›
not:
79,191 TL (1999: 248 TL) önceki dönem gideri, 35,629 TL (1999:
8 TL) önceki dönem geliri mevcuttur. Önceki dönem gideri, önemli
ölçüde önceki döneme ait sigorta poliçesinin kur fark›ndan, önceki
dönem geliri ise finansman gideri k›s›tlamas› oran›ndaki de¤ifliklikten
dolay› fazla ödenen tutar›n cari dönemde geri al›nmas›ndan
oluflmaktad›r.
13. Explanatory note for income and expenses related to prior
period:
There is a prior period expense amounting to TL 79,191 (1999:
TL 248), and a prior period income amounting to TL 35,629 (1999:
TL 8). Prior-period expense mainly consists of exchange losses on
insurance policy, which belongs to prior period. Prior period income
mainly consists of effects of changes in the rate of restriction on
financial expenses on computation of corporation tax.
14. Adi ve imtiyazl› hisse senetleri için ayr› ayr› gösterilmek
kofluluyla hisse bafl›na kar ve kar pay› oranlar›:
2000 y›l› için bin TL nominal bedelli hisse bafl›na kar yoktur (1999:
5.05 TL). Da¤›t›lacak net kar olmad›¤› için kar pay› da yoktur (1999:
Yoktur).
15. Her bir ana üretim grubu için ayr› ayr› olmak üzere,
iflletmenin dönem içinde gerçeklefltirdi¤i mal ve hizmet üretim
miktarlar›ndaki de¤iflmeler:
fiirket üretim yapmamaktad›r.
16. Her bir ana sat›fl grubu için ayr› ayr› olmak üzere, iflletmenin
dönem içinde gerçeklefltirdi¤i mal ve hizmet sat›fl
miktarlar›ndaki de¤iflmeler:
14. Earnings per share and percentage of dividends per share
for preferred and common stocks:
None (1999: TL 5.05).
15. Changes in the quantities of goods and services produced
during the year, separately for each and every major product
group:
The Company does not have production.
16. Changes in the quantities of goods and services sold during
the year, separately for each and every major product group:
Measurement of Unit: Tonnes
2000
Fuel oil
Akaryak›t
Birim: Ton
2000
1,262,441
1999
297,969*
De¤iflim
%
%420
* Bu miktar 9 ayl›k Tabafl Petrolcülük A.fi.’nin 15,075 ton ve 3 ayl›k
Turcas Petrol A.fi.’nin 282,894 ton sat›fl miktar›n› göstermektedir
(Turcas Petrolcülük A.fi.’nin birleflme öncesi ilk dokuz ayl›k sat›fl
miktar› 885,004 ton’dur).
48
1,262,441
1999
Change
%
297,969*
420%
* 15,075 of this quantity represents 9-months sales of Tabafl
Petrolcülük A.fi and 282,894 of this quantity represents 3 months
sales of Turcas Petrol A.fi. (The sales quantity of Turcas Petrolcülük
A.fi. for the first 9-months amounted 885,004)
Turcas Petrol Anonim fiirketi ve Ba¤l› Kuruluflu
31 Aral›k 2000,1999 ve 1998 Tarihleri ‹tibariyle
Konsolide Mali Tablolar ve
Turcas Petrol Anonim fiirketi and its Subsidiary
Consolidated Financial Statements
31 December 2000, 1999 and 1998
With Independent Auditor’s Report Thereon
Yönetim Kurulu’na
Turcas Petrol A.fi’nin (fiirket) ve Ba¤l› Kuruluflu’nun 31 Aral›k 2000, 1999 ve 1998 tarihleri itibariyle düzenlenmifl
konsolide bilançolar›n›, bu tarihlerde sona eren hesap dönemlerine ait konsolide gelir tablolar›n› ve nakit ak›m
tablolar›n› denetlemifl bulunuyoruz. Mali tablolar›n do¤ru bir flekilde düzenlenmesi fiirket yönetiminin sorumlulu¤u
alt›ndad›r. Bizim sorumlulu¤umuz bu konsolide mali tablolarla ilgili olarak bir denetçi görüflü beyan etmektir.
Denetim çal›flmam›z› Uluslararas› Denetim Standartlar›’na göre gerçeklefltirdik. Bu standartlar mali tablolar›n önemli
derecede bir hatay› içerip içermedi¤i hakk›nda makul bir kan›t elde edilmesi amac›yla denetim çal›flmalar›m›z›n
planlanmas›n› ve gerçeklefltirilmesini öngörmektedirler. Bir denetim çal›flmas› mali tablolardaki ve onlar› tamamlayan
aç›klay›c› notlardaki tutarlar hakk›nda test esas›na göre kan›tlar elde edilmesi sürecini içermektedir. Bir denetim
çal›flmas› mali tablolar›n bir bütün olarak de¤erlendirilmesi yan›nda yönetim taraf›ndan uygulanan muhasebe ilkelerinin
ve yap›lan önemli tahminlerin ve varsay›mlar›n da gözden geçirilmesini kapsamaktad›r. Denetim çal›flmam›z›n söz
konusu mali tablolar üzerinde bir görüfl belirtmemiz için gerekli esaslar› oluflturdu¤una inanmaktay›z.
Görüflümüze göre, bahsedilen konsolide mali tablolar fiirket’in 31 Aral›k 2000, 1999 ve 1998 tarihleri itibariyle gerçek
mali durumunu, bu tarihlerde sona eren dönemlere ait gerçek faaliyet sonuçlar›n› ve nakit ak›mlar›n›, Uluslararas›
Muhasebe Standartlar› Komitesi taraf›ndan yay›mlanan Uluslararas› Muhasebe Standartlar› Tebli¤leri’ ne uygun olarak
do¤ru bir biçimde yans›tmaktad›r.
Raporumuza flartl› görüfl getirmemekle birlikte, Not 23’te de aç›kland›¤› gibi, 2000 senesi içinde ve 31 Aral›k 2000
tarihini müteakiben, Türkiye’de önemli ekonomik sorunlar›n yafland›¤›na dikkatinizi çekmek istiyoruz. Bu sorunlar›n
bafll›calar›, iç borçlanma senetlerinin ve hisse senetlerinin fiyatlar›nda ani düflüfl yaflanmas›, ve kamu ve özel sektör
borçlanmalar›na iliflkin faiz oranlar›n›n h›zla yükselmesidir. Hükümet, bu sorunlar neticesinde banka sisteminde
yaflanan likidite krizini aflmak amac›yla, 21 fiubat 2001 tarihinde Türk Liras›’n› serbest dalgalanmaya b›rakm›fl, ve bu
karar, ilk gün içinde, Türk Liras›’n›n Amerikan Dolar› karfl›s›nda %28 oran›nda de¤er kaybetmesine yol açm›flt›r. Bu
rapor tarihi itibariyle Türk Liras› belli bafll› yabanc› para birimleri karfl›s›nda 31 Aral›k 2000 tarihinde geçerli kurlar ile
karfl›laflt›r›ld›¤›nda önemli ölçülerde de¤er kayb›na u¤ram›flt›r. Söz konusu de¤er kayb› Amerikan Dolar› karfl›s›nda
%37 olmufltur. fiirket’in mali durumu ve gelecekteki faaliyetleri ve nakit ak›mlar› süregiden bu ekonomik sorunlardan
olumsuz yönde etkilenebilecektir. fiirket yönetimi, yaflanmakta olan ekonomik sorunlar›n gelecekteki boyutlar›n›,
ciddiyetini ve süresini önceden tahmin edemedi¤i gibi bu sorunlar›n fiirket’in flu anki mali durumu ve/veya gelecekteki
faaliyetleri ve nakit ak›mlar› üzerinde yapaca¤› etkiyi de belirleyememektedir. ‹liflikteki mali tablolar, bu ekonomik
sorunlar neticesinde gerekli olabilecek herhangi bir düzeltmeyi içermemektedir.
‹stanbul,
23 fiubat 2001
Independent Auditor’s Report
To the Board of Directors of
We have audited the accompanying consolidated balance sheets of Turcas Petrol Anonim fiirketi (the Company) and
its subsidiary as of December 31, 2000, 1999 and 1998; and the related statements of income, and cash flows for the
years then ended. These financial statements are the responsibility of the Company’s management. Our responsibility
is to express an opinion on these consolidated financial statements based on our audits.
We conducted our audits in accordance with International Standards on Auditing. Those standards require that we
plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall financial statement presentation. We
believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the consolidated
financial position of Turcas Petrol Anonim fiirketi and its subsidiary as of December 31, 2000, 1999 and 1998 and; the
results of its operations and the changes in its cash flows for the years then ended, in accordance with Statements of
International Accounting Standards issued by the International Accounting Standards Committee.
Without qualifying our opinion, as also discussed in Note 23, we draw your attention to the fact that significant
economic difficulties have emerged in Turkey during the year 2000 and subsequent to 31 December 2000. These
include, but are not limited to a steep decline in prices of domestic debt and equity securities and increasing rates on
government and corporate borrowings. In an attempt to overcome the liquidity crisis in the banking system, on 21
February 2001, the government allowed Turkish Lira to float freely. This caused a 28% devaluation of the Turkish Lira
against the US Dollar during the first day of floatation. As of the date of this report the Turkish Lira has devalued
significantly against major foreign currencies as compared to the related currency exchange rates ruling as of 31
December 2000. Such devaluation against the US Dollar has been 37%. The financial condition of the Company and
its future operations and cash flows could be adversely affected by continued economic difficulty. Management is
unable to predict the extent, severity or duration of the current economic difficulties nor quantify what impact it may
have on the current financial position or future operations and cash flows of the Company. These financial statements
do not include any adjustments, which may be necessary as a result of these economic difficulties.
‹stanbul, Turkey
February 23, 2001
Turcas Petrol A.fi. ve Ba¤l› Kuruluflu 31 Aral›k 2000, 1999 ve 1998 tarihlerinde sona eren y›llara ait Konsolide Gelir Tablolar›
Milyon Türk Liras› bakiyeler UMS 29 uyar›nca enflasyon etkilerini yans›tacak flekilde 31 Aral›k 2000 tarihindeki sat›nalma gücü cinsinden
ifade edilmifltir.
Turcas Petrol A.fi. and its Subsidiary Consolidated Statements of Income for the years ended 31 December 2000, 1999 and 1998
In millions of Turkish Lira as adjusted for the effects of inflation in TL units current at December 31, 2000 pursuant to IAS 29.
Not
Note
Ara.00
Dec.00
Ara.99
Dec.99
Ara.98
Dec.98
626,682,633
602,388,637
461,523,894
(595,412,828)
(561,585,280)
(432,476,960)
31,269,805
40,803,357
29,046,934
1
5,962,515
3,628,262
2,652,612
2
(10,599,013)
(9,886,968)
(9,012,086)
2
(9,377,198)
(8,894,471)
(8,122,879)
17,256,109
25,650,180
14,564,581
(16,357,056)
(16,186,574)
(5,514,505)
10,297,031
(6,588,117)
(4,459,456)
11,196,084
2,875,489
4,590,620
(677,511)
(5,687,676)
(1,899,661)
10,518,573
(2,812,187)
2,690,959
-
-
(1,791,370)
10,518,573
(2,812,187)
899,589
1.43
(0.40)
0.13
Sat›fllar
Revenue
Sat›fllar›n maliyeti
Cost of sales
Brüt Kar
Gross profit
Di¤er faaliyet gelirleri
Other operating income
Sat›fl ve pazarlama giderleri
Selling and marketing expenses
Genel yönetim giderleri
General and administrative expenses
Faaliyet Kar›
Profit from operations
Net finansman giderleri
Net financing costs
Parasal kar/(zarar)
Monetary gain/(loss)
Vergi öncesi kar
Profit before tax
4
Vergi karfl›l›¤›
Income tax expense
Vergi sonras› kar/(zarar)
Profit/(loss) after tax
5
Az›nl›k paylar›
Minority interest
Net kar/(zarar)
Net profit/(loss) for the year
Hisse bafl›na kar/(zarar)
Basic earnings/(loss) per share
16
‹liflikteki notlar bu mali tablolar›n tamamlay›c› parças›d›r.
The accompanying notes are an integral part of these statements.
52
Turcas Petrol A.fi. ve Ba¤l› Kuruluflu 31 Aral›k 2000, 1999 ve 1998 tarihleri itibariyle Konsolide Bilançolar
Milyon Türk Liras› bakiyeler UMS 29 uyar›nca enflasyon etkilerini yans›tacak flekilde 31 Aral›k 2000 tarihindeki sat›nalma gücü
cinsinden ifade edilmifltir.
Turcas Petrol A.fi. and its Subsidiary Consolidated Balance Sheets as at 31 December 2000, 1999 and 1998
Varl›klar
Assets
Maddi duran varl›klar
Property, plant and equipment
Maddi olmayan duran varl›klar
Intangible assets
fierefiye, net
Goodwill, net
‹fltirakler ve ba¤l› ortakl›klar
Investments in associates and other investments
Ertelenmifl vergi alaca¤›
Deferred tax assets
Ticari alacaklar
Trade receivables
Di¤er duran varl›klar
Other non-current assets
Duran varl›klar toplam›
Total non-current assets
Stoklar
Inventories
Ticari alacaklar
Trade receivables
Di¤er dönen varl›klar ve gelir tahakkuklar›
Other current assets and accrued income
Nakit ve nakit benzeri de¤erler
Cash and cash equivalents
Toplam dönen varl›klar
Total current assets
Toplam varl›klar
Total assets
Borçlar ve Özsermaye
Equity and liabilities
Sermaye
Issued capital
Yasal yedekler
Legal reserves
Emisyon primi
Share Premium
Geçmifl y›llar zarar›
Accumulated losses
Cari y›l kar›/(zarar›)
Current year profit/(loss)
Toplam sermaye ve yedekler
Total capital and reserves
Az›nl›k paylar›
Minority interest
Borçlar
Liabilities
Banka kredileri
Interest-bearing loans and borrowings
Severance pay liability
Ertelenmifl vergi borcu
Deferred tax liabilities
Di¤er uzun vadeli borçlar
Other non-current liabilities
Toplam uzun vadeli borçlar
Total non-current liabilities
Banka kredileri
Interest-bearing loans and borrowings
Yasal vergi karfl›l›¤›
Income tax payable
Ticari borçlar
Trade payables
Di¤er k›sa vadeli borç ve gider karfl›l›klar›
Other current liabilities and accrued expenses
Toplam k›sa vadeli borçlar
Total current liabilities
Toplam borçlar ve özsermaye
Total equity and liabilities
Not
Note
Ara.00
Dec.00
Ara.99
Dec.99
Ara.98
Dec.98
6
40,945,394
33,507,052
24,792,727
7
8,948,116
10,135,288
12,628,004
8
40,647,720
44,496,829
48,345,937
10
4,012
4,012
4,012
12
3,650,767
2,319,515
1,297,122
123,743
62,168
12,691
1,692,671
2,173,983
1,245,426
96,012,423
92,698,847
88,325,919
11
12,448,937
8,038,873
6,496,974
13
17,631,753
30,239,851
18,590,096
13
2,005,279
1,237,522
1,451,821
14
10,540,189
11,163,663
5,554,955
42,626,158
50,679,909
32,093,846
138,638,581
143,378,756
120,419,765
19,583,047
19,583,047
19,583,047
1,394,304
1,835,545
890,917
26,560,022
26,560,022
26,560,022
(26,726,102)
(24,355,156)
(22,886,525)
10,518,573
(2,812,187)
899,589
31,329,844
20,811,271
25,047,050
-
-
8,630,455
45,686,016
57,311,031
47,041,264
632,571
440,834
359,681
7,250,727
6,483,112
7,130,499
961,839
1,043,593
634,955
54,531,153
65,278,570
55,166,399
31,002,381
26,210,023
13,085,807
114,530
5,142
338,473
18
17,413,079
21,369,995
15,027,680
18
4,247,594
9,703,755
3,123,901
52,777,584
57,288,915
31,575,861
138,638,581
143,378,756
120,419,765
9
15
17
12
17
‹liflikteki notlar bu mali tablolar›n tamamlay›c› parças›d›r.
The accompanying notes are an integral part of these balance sheets.
53
Turcas Petrol A.fi. ve Ba¤l› Kuruluflu 31 Aral›k 2000, 1999 ve 1998'de sona eren y›llar ait Konsolide Nakit Ak›m Tablolar›
Milyon Türk Liras› bakiyeler UMS 29 uyar›nca enflasyon etkilerini yans›tacak flekilde 31 Aral›k 2000 tarihindeki sat›nalma gücü cinsinden ifade
edilmifltir.
Turcas Petrol A.fi. and its Subsidiary Consolidated Statements of Cash Flows for the years ended 31 December 2000, 1999 and 1998
Ara.00
Dec'00
FAAL‹YETLERDEN ELDE ED‹LEN NAK‹T:
CASH FLOWS FROM OPERATING ACTIVITIES:
Net dönem kar›/(zarar›)
Net income/(loss) for the year
10,518,573
Faaliyetlerden sa¤lanan net nakit ile net dönem kar›n›n mutabakat› için yap›lan düzeltme kay›tlar›:
Adjustments to reconcile net income to net cash provided by operating activities:
Amortisman ve itfa giderleri
Depreciation and amortisation
5,997,278
fierefiyenin itfas›
Amortisation of goodwill
3,849,109
Ticari alacaklar reeskontu
Discount on trade receivables
346,510
Ertelenmifl vergi
Deferred taxation
(563,637)
Provision for retirement pay
334,573
‹flletme sermayesindeki de¤ifliklikler:
Changes in components of working capital:
Uzun vadeli ticari alacaklardaki azal›fl/(art›fl)
Decrease/(increase) in long-term trade receivables
(61,575)
Di¤er duran varl›klardaki azal›fl/(art›fl)
Decrease/(increase) in other non-current assets
481,312
Stoklardaki azal›fl/(art›fl)
Decrease/(increase) in inventory
(4,410,064)
K›sa vadeli ticari alacaklardaki azal›fl/(art›fl)
Decrease/(increase) in short-term trade receivables
12,261,588
Di¤er dönen varl›klarda azal›fl/(art›fl)
Decrease/(increase) in other current assets
(767,757)
Di¤er uzun vadeli borçlardaki art›fl/(azal›fl)
Increase/(decrese) in other non-current liabilities
(80,007)
Ödenecek gelir vergisindeki art›fl/(azal›fl)
Increase/(decrease) in income tax payable
109,388
Ticari borçlardaki art›fl/(azal›fl)
Increase/(decrease) in trade payables
(3,955,729)
Di¤er k›sa vadeli borçlardaki art›fl/(azal›fl)
Increase/(decrease) in other current liabilities
(5,456,161)
Faaliyetlerden sa¤lanan/(kullan›lan) net nakit
Net cash provided by/(used for) operating activities
18,603,401
YATIRIM FAAL‹YETLER‹NDEN ELDE ED‹LEN NAK‹T:
CASH FLOWS FROM INVESTING ACTIVITIES:
Maddi duran varl›klardan ç›k›fllar/(girifller), net
Disposal from/(additions to) property plant and equipment, net
(11,620,270)
Maddi olmayan duran varl›klardan ç›k›fllar/(girifller)
Disposals from/(additions to) intangibles
(470,236)
Yat›r›m faaliyetlerinde kullan›lan net nakit
Net cash provided by/(used for) investing activities
(12,090,506)
F‹NANSMAN FAAL‹YETLER‹NDEN ELDE ED‹LEN NAK‹T:
CASH FLOWS FROM FINANCING ACTIVITIES:
Uzun vadeli faize dayal› kredilerdeki art›fl/(azal›fl)
Increase/(decrease) in long-term interest bearing loans and borrowings
(11,626,761)
Nakit sermaye art›fl›
Capital contributions
K›sa vadeli faize dayal› kredilerdeki art›fl/(azal›fl)
Increase/(decrease) in short-term interest bearing loans and borrowings
4,791,171
Ödenen temettüler
Dividends paid
Az›nl›k paylar›ndaki de¤ifliklikler-(azal›fl)/art›fl
(Decrease)/increase in minority interest
Finansman faaliyetlerinde kullan›lan net nakit
Net cash provided by financing activities
(6,835,590)
NAK‹T VE BENZER‹ DE⁄ERLERDEK‹ NET ARTIfi/(AZALIfi)
NET INCREASE/(DECREASE) IN CASH
(322,695)
Enflasyon oran›ndaki de¤iflimin etkisi
Effect of changes in index
(300,779)
DÖNEM BAfiI ‹T‹BAR‹ ‹LE NAK‹T VE BENZER‹ DE⁄ERLER
CASH AT THE BEGINNING OF THE YEAR
11,163,663
DÖNEM SONU ‹T‹BAR‹ ‹LE NAK‹T VE BENZER‹ DE⁄ERLER
CASH AT THE END OF THE YEAR
10,540,189
‹liflikteki notlar bu nakit ak›m tablolar›n›n tamamlay›c› parças›d›r.
The accompanying notes are an integral part of these financial statements.
54
Ara.99
Dec'99
Ara.98
Dec'98
(2,812,187)
899,590
5,070,177
4,681,725
3,849,109
3,849,108
1,178,641
(24,633)
(1,669,780)
(3,405,126)
328,439
265,005
(49,480)
703,830
(928,558)
4,648,849
(1,541,899)
3,708,765
(12,828,396)
(2,570,007)
214,303
573,090
408,635
(17,407,121)
(333,331)
(3,583,681)
6,342,314
(6,950,989)
6,579,855
(902,171)
3,807,842
(15,513,766)
(10,756,813)
(3,753,634)
853,400
276,807
(9,903,413)
(3,476,827)
10,269,767
(2,200,096)
9,303,042
13,124,216
10,448,402
(1,423,592)
(1,748,582)
(8,630,454)
1,672,842
13,339,937
17,475,608
7,244,366
(1,514,985)
(1,635,658)
482,811
5,554,955
6,587,129
11,163,663
5,554,955
31 Aral›k, 2000, 1999 ve 1998 Hesap Dönemlerine Ait
Konsolide Mali Tablolar› Tamamlay›c› Notlar
(Birim - Milyon Türk Liras›)
(Bakiyeler UMS 29 uyar›nca ve enflasyon etkilerini yans›tacak
flekilde Türk Liras›’n›n 31 Aral›k 2000 tarihindeki sat›nalma gücü
cinsinden ifade edilmifltir)
Notes to Consolidated Financial Statements
December 31, 2000, 1999 and 1998
(Currency - Millions of Turkish Lira)
(As adjusted for the effects of inflation in TL units current at
December 31, 2000 pursuant to IAS 29)
Faaliyetler ve hissedarlar
Principal activities and history
Turcas Petrolcülük A.fi., 1988 y›l›nda Türkpetrol Holding ve BurmahCastrol taraf›ndan kurulmufltur.
Turcas Petrolcülük A.fi. was established in 1988 as a joint venture
between Türkpetrol Holding and Burmah-Castrol.
1996 y›l›nda Tabafl Petrolcülük A.fi. (Tabafl), Turcas Petrolcülük
A.fi.’ye ait herbiri bin TL de¤erinde 1,677,946 hisseyi 139,681,436
ABD Dolar› ödeyerek sat›n alm›fl, ve dolay›s›yla Turcas Petrolcülük
A.fi.’nin %82.16’s›na sahip olmufltur.
In 1996 Tabafl Petrolcülük A.fi. (Tabafl) purchased 1,677,946
shares in Turcas Petrolcülük A.fi. of one thousand TL nominal value
each, for USD 139,681,436, resulting in an ownership of 82.16%.
Tabafl’›n ticari ünvan› 30 Eylül 1999 tarihinde Turcas Petrolcülük
A.fi. ile birleflme neticesinde Turcas Petrol A.fi. (fiirket) olarak
de¤ifltirilmifltir.
fiirket’in faaliyet konusu, her türlü petrol ve petrol ürünlerinin al›m›,
sat›m›, ihrac›, ithali ve da¤›t›m›d›r.
fiirket’in ba¤l› kuruluflu olan Marmara Petrol ve Rafineri ‹flleri A.fi.’nin
(Marmara) faaliyet konusu ham petrol ithalat› ve ifllenmesidir.
After the merger with Turcas Petrolcülük A.fi. on September 30,
1999, commercial title of Tabafl was changed to Turcas Petrol A.fi.
(the Company).
The Company is engaged to purchase, sell, import, export and
distribute all kinds of fuel products and lubricants.
The subsidiary of the Company, Marmara Petrol ve Rafineri ‹flleri
A.fi. (Marmara), is engaged in importing and processing crude oil.
Significant accounting policies
Önemli muhasebe ilkelerinin özeti
‹liflikteki mali tablolarda uygulanan önemli muhasebe ilkeleri
afla¤›da özetlenmifltir.
(a) Uygunluk beyan›
‹liflikteki mali tablolar, Uluslararas› Muhasebe Standartlar› Komitesi
(UMSK) taraf›ndan yay›mlanan muhasebe standartlar›na uygun
olarak haz›rlanm›flt›r. Bu muhasebe politikalar› fiirket taraf›ndan
sürekli olarak uygulanmaktad›r ve önceki dönemlerle uyumludur.
(b) Mali tablolar›n haz›rlan›fl flekli
‹liflikteki mali tablolar milyon Türk Liras› (TL) olarak haz›rlanm›flt›r.
fiirket muhasebe kay›tlar›n› Türk Ticaret Kanunu (TTK), Türk Vergi
Kanunlar› ve Sermaye Piyasas› Kurulu’nun (SPK) yay›mlad›¤› ve
‹stanbul Menkul K›ymetler Borsas›’na kote flirketler için geçerli olan
genel kabul görmüfl muhasebe ilkelerine uygun olarak tutmakta ve
yasal mali tablolar›n› da buna uygun olarak haz›rlamaktad›rlar.
‹liflikteki konsolide mali tablolar (UMS Mali Tablolar), tarihi maliyet
esas› baz al›narak yap›lan yasal kay›tlar›n (maddi duran varl›klar
üzerindeki yeniden de¤erleme hariç), Uluslararas› Muhasebe
Standartlar› Komitesi taraf›ndan yay›mlanan Uluslararas› Muhasebe
Standartlar› (UMS) tebli¤lerinden, UMS 29 "Yükselen enflasyonlu
ekonomilerde finansal raporlama" bölümünü de kapsayan, mali
tablolar›n gerçe¤i yans›tmas› ilkesi do¤rultusunda, Türk Liras›’n›n
sat›n alma gücünde meydana gelen de¤iflikliklerin yeniden ifade
edilmesi de dahil, baz› tashih ve tasniflere tabi tutulmalar›yla
haz›rlanm›flt›r.
Mali tablolar üzerinde enflasyon etkilerini gösteren UMS 29
uygulamas› ilk olarak 1 Ocak 1990 ve sonras›n› kapsayan mali
tablolar üzerinde yap›lmaya bafllanm›flt›r. Bu standart, UMS
standartlar›na göre haz›rlanan mali tablolar›n bilanço tarihinde
geçerli olan paran›n sat›n alma gücünü yans›tacak flekilde
düzenlenmesini ve geçmifl senelerle ilgili mukayeseli hesap
bakiyelerinin de bu esasa göre düzeltilmesini gerekli k›lmaktad›r.
UMS 29'un uygulanmas›n› gerektiren durum, son üç y›ll›k kümülatif
enflasyon oran›n›n %100'e yaklafl›yor veya geçiyor olmas›d›r.
Yüksek enflasyonun etkilerinin hesaplanmas›, Devlet ‹statistik
Enstitüsü (D‹E) taraf›ndan ayl›k olarak yay›mlanan toptan eflya fiyat
endeksi (TEFE) ve buna ba¤l› olarak elde edilen çevirme katsay›lar›
kullan›larak yap›lmaktad›r. 31 Aral›k 2000, 1999 ve 1998 tarihli mali
tablolarda yap›lan düzenlemelerde kullan›lan baz› endeksler ve
katsay›lar afla¤›daki gibidir:
Tarih
31 Aral›k 2000
31 Aral›k 1999
31 Aral›k 1998
Endeks
2,626
1,979.5
1,215.1
Çevirme Katsay›s›
1.000
1.185
2.161
‹liflikteki mali tablolar›n yeniden ifade edilmesinde uygulanan temel
ilkeler afla¤›daki paragraflarda özetlenmifltir:
• Yüksek enflasyonlu ekonomiye sahip bir ülkenin para birimiyle
haz›rlanan mali tablolar, bilanço tarihinde oluflan de¤erleriyle ifade
edilirler, ve buna ba¤l› olarak geçmifl sene figürleri de ayn› flekilde
yeniden ifade edilirler.
The significant accounting policies followed in the accompanying
financial statements are summarized below.
(a) Statement of compliance
The financial statements have been prepared in accordance with
the accounting standards issued by the International Accounting
Standards Committee ("IASC"), and interpretations issued by the
Standing Interpretations Committee of the IASC. The accounting
policies have been consistently applied by the Company and they
are consistent with those of the previous years.
(b) Basis of preparation
The financial statements are presented in Turkish Lira (TL) millions.
The Company maintains its books of account and prepares its
statutory financial statements in Turkish Lira in accordance with the
Turkish Commercial Code (the "TCC"); Turkish tax legislation; and
the accounting principles promulgated by the Capital Markets
Board of Turkey ("CMB") applicable to those entities listed in
‹stanbul Stock Exchange.
The accompanying financial statements (the IAS Financial
Statements) are based on the statutory records, which are
maintained under the historical cost convention, (except for the
statutory revaluation of property, plant and equipment) with
adjustments and reclassifications including restatement for the
changes in the general purchasing power of the Turkish Lira, for the
purpose of fair presentation in accordance with Statements of
International Accounting Standards ("IAS") issued by the
International Accounting Standards Committee, including the
statement IAS 29 which applies to the "Financial Reporting in
Hyperinflationary Economies" as explained in the following
paragraph.
IAS 29, which deals with the effects of inflation on the financial
statements, has become applicable for the first time to financial
statements covering periods beginning on or after January 1, 1990.
This standard requires that the financial statements prepared in
accordance with Statements of International Accounting Standards
be stated in terms of the measuring unit current at the balance
sheet date and corresponding figures for previous periods be
restated in the same terms.
One characteristic that necessitates the application of IAS 29 is a
cumulative three-year inflation rate approaching or exceeding
100%. The restatement was calculated by means of conversion
factors derived from the Turkish countrywide wholesale price index
("WPI") published by the State Institute of Statistics ("SIS"). Such
indices and conversion factors used to restate the accompanying
financial statements at 31 December 2000, 1999 and 1998, are
given below:
Date
31 December 2000
31 December 1999
31 December 1998
Index
2,626
1,979.5
1,215.1
Conversion factor
1.000
1.327
2.161
The main guidelines for the above mentioned restatement are as
follows:
55
• Parasal aktif ve pasif kalemler bilanço tarihindeki defter de¤erlerini
yans›tt›klar› için yeniden de¤erlendirilmemifllerdir.
• Parasal olmayan aktif, pasif ve özsermaye kalemleri ilgili ifllemin
gerçekleflti¤i ay›n enflasyon endeksinden raporlanan en son mali
tablolar›n ait olduklar› dönemin son ay› için ilan edilen endekse
kadar geçen sürede meydana gelen de¤iflmeler temel al›narak
yeniden ifade edilmifllerdir. Sabit k›ymetlere girifller, girifl tarihleri
gözönüne al›narak ilgili katsay› ile yeniden ifade edilirler.
• Gelir tablosunda yer alan kalemler, ayl›k olarak ilan edilen
endeksler esas al›narak yeniden ifade edilmifllerdir. Ancak
bilançoda yer alan parasal olmayan kalemlerle ilgili gelir ve giderler,
sözkonusu varl›klarla ve borçlarla ayn› esaslara göre yeniden ifade
edilmifllerdir.
• Yeniden de¤erlemeden kaynaklanan fiirket’in net parasal
pozisyonu, gelir tablosunda net parasal kar›/(zarar›) hesab›nda
yans›t›lm›flt›r.
31 Aral›k 2000 ve 1999 tarihli iliflikteki konsolide mali tablolar fiirket’i
ve Marmara’y› beraber içermektedir (31 Aral›k 1998: Turcas
Petrolcülük A.fi., Tabafl ve Marmara). Bütün flirketler aras› bakiyeler
ve ifllemler elimine edilmifltir.
(c) ‹lgili taraflar
‹liflikteki konsolide mali tablolar›n haz›rlanmas›nda ortaklar,
yöneticiler ve Yönetim Kurulu üyeleri ve her durumda bunlar›n
aileleri ve bu flah›slar taraf›ndan kontrol edilen veya ifltirak edilen
flirketler; bunlar›n ba¤l› ortakl›klar›, yat›r›mlar› ve giriflim ortakl›klar›
"ilgili taraflar" olarak tan›mlanm›fllard›r. ‹lgili taraf ifllemlerinin büyük
bir k›sm› elimine edilmifltir, kalan k›sm› ise fiirket için bir önemlilik
teflkil etmemektedir (Not 22)
(d) Yabanc› para cinsinden yap›lan ifllemler
Yabanc› para cinsinden yap›lan ifllemler, ilgili ifllemin gerçekleflti¤i
günün döviz kurlar› kullan›larak Türk Liras›'na çevrilir. Yabanc› para
cinsindeki parasal aktif ve pasif kalemleri ise bilanço tarihinde
geçerli olan döviz kurlar› kullan›larak Türk Liras›’na çevrilir.
(e) Maddi duran varl›klar
• Non-monetary assets and liabilities that are not carried at amounts
current at the balance sheet date, and components of shareholders’
equity are restated by applying the relevant (monthly, yearly
average, year end) conversion factors. Additions to property, plant
and equipment in the year of acquisition are restated using the
relevant conversion factors.
• The effect of general inflation on the entity’s net monetary position
is included in the statements of income as gain or loss on net
monetary position.
The acquisition of Turcas Petrolcülük A.fi. by Tabafl is accounted
for by using the purchase method of accounting. The assets and
liabilities recognized as a result of the purchase are measured at
the fair value of identifiable assets and liabilities acquired as at the
date of the exchange transaction.
The accompanying financial statements as of December 31, 2000
and 1999 include the Company and Marmara on a line by line basis
(December 31, 1998: Turcas Petrolcülük A.fi., Tabafl and Marmara).
All intercompany balances and transactions are eliminated.
(c) Related party transactions
For the purpose of accompanying financial statements, the
shareholders, key management personnel and the Board members
and, in each case, together with their families and companies
controlled by/affiliated with them and; associates, investments and
joint venture partners are considered and referred to as the related
parties. Most of the related party activity is eliminated and the
remainder activity is not material to the Company (please refer to
Note 22).
(d) Foreign currency transactions
Transactions in foreign currencies are translated to TL at the foreign
exchange rate ruling at the date of the transaction. Monetary assets
and liabilities denominated in foreign currencies at the balance
sheet date are translated to TL at the foreign exchange rate ruling
at that date.
(i) fiirket’in sabit k›ymetleri
Sabit k›ymetler, yeniden ifade edilmifl tutarlar›ndan birikmifl
amortismanlar› düflülerek 31 Aral›k 2000’deki sat›n alma gücü
cinsinden ifade edilmifllerdir.
(ii) Finansal kiralama yoluyla elde edilen sabit k›ymetler
Finansal kiralama sözleflmesi alt›nda, sahiplikle ilgili tüm risklerin ve
faydalar›n kirac›ya ait oldu¤u sabit k›ymet transferleri finansal
kiralama ifllemleridir. Finansal kiralama yoluyla elde edilen sabit
k›ymetler, bilançoda, kira sözleflmesinin bafllang›c›ndaki minimum
kira alacaklar›n›n flimdiki de¤eri tutar›nda bir aktif ve pasif kalemi
kaydedilerek gösterilir. Bu flekilde aktiflefltirilmifl olan varl›klar
fiirket’in amortisman politikas›na göre amortismana tabi tutulurlar.
Finansal kiralamadan do¤an borçlar anaparan›n ödenmesiyle
azal›rken, faiz ödemeleri direkt olarak gelir tablosunda yans›t›l›r.
(iii) Amortisman
Sabit k›ymetler, tahmini ekonomik ömürleri üzerinden, al›n›fl ve
montaj tarihleri esas al›narak normal amortisman yöntemi
kullan›larak amortize edilir. Özel maliyetler ilgili kiralama ifllemi
üzerinden normal amortisman yöntemi kullan›larak amortize edilir.
Arazi amortismana tabi de¤ildir. Sabit k›ymetlerin tahmini ekonomik
ömürleri afla¤›daki gibidir:
50
5 - 10
5 - 10
5
5 - 10
5
• Monetary assets and liabilities are not restated because they are
already expressed in terms of the monetary unit current at the
balance sheet date.
• All items in the statement of income are restated by applying the
monthly conversion factors except for those amounts deriving from
non-monetary items, which are calculated based on the restated
values of the related items.
Turcas Petrolcülük A.fi.’nin Tabafl taraf›ndan sat›n al›nmas›
muhasebelefltirilirken sat›n alma metodu kullan›lm›flt›r. Sat›n alma
sonucunda elde edilen aktif ve pasiflerin de¤erlemesi sat›n al›nan
tarihteki iliflkili aktif ve pasiflerin gerçek de¤erleri olarak ifade
edilmifltir.
binalar
makina, tesis ve cihazlar
yerüstü ve yeralt› düzenleri
tafl›tlar
döfleme ve demirbafllar
özel maliyetler
• Financial statements prepared in the currency of a
hyperinflationary economy are stated in terms of the monetary unit
current at the balance sheet date, and corresponding figures for
previous periods are restated in the same terms.
y›l
y›l
y›l
y›l
y›l
y›l
(e) Property, plant and equipment
(i) Owned assets
Property, plant and equipment are carried at restated amounts, less
accumulated depreciation, in terms of the equivalent purchasing
power current at 31 December 2000.
(ii) Leased assets
Leases in terms of which the Company assumes substantially all the
risks and rewards of ownership are classified as finance leases.
Plant and equipment acquired by way of finance lease is stated at
an amount equal to the lower of its fair value and the present value
of the minimum lease payments at inception of the lease, less
accumulated depreciation. Lease liabilities are reduced by
repayments of principal while the finance charge component of the
lease payment is charged directly to income.
(iii) Depreciation
The property, plant and equipment is depreciated over the
estimated useful lives of the related assets from the date of
purchase or the date of installation, and on a straight-line basis.
Leasehold improvements are amortised over the periods of the
respective leases, on a straight-line basis. Land is not depreciated.
The estimated useful lives are as follows:
buildings
plant and equipment
land improvements
motor vehicles
furniture and others
leasehold improvements
56
50
5 - 10
5 - 10
5
5 - 10
5
years
years
years
years
years
years
(f) Maddi olmayan duran varl›klar
Maddi olmayan duran varl›klar marka kullanma haklar›n› ve di¤er
haklar› içermektedir ve parasal olarak düzeltilmifl maliyetlerinden
birikmifl amortismanlar düflülmüfl olarak gösterilirler.
Maddi olmayan duran varl›k amortismanlar› gelir tablolar›na ilgili
varl›klar›n tahmini ekonomik ömürleri üzerinden normal amortisman
yöntemi kullan›larak hesaplanmas› sonucu yans›t›l›rlar. Bu varl›klar›n
tahmini ekonomik ömürleri on y›ld›r.
(g) fierefiye
fierefiye, ba¤l› flirketlerin hisselerinin elde etme maliyetinin al›fl
tarihinde, bu flirketlerin net aktif toplam›n› aflan k›sm›na tekabül
etmektedir. fierefiye, bilançoda parasal olarak düzeltilmifl
maliyetinden birikmifl amortisman› düflülmüfl olarak gösterilmektedir
ve normal amortisman yöntemiyle onbefl y›l içerisinde gelir
tablolar›na yans›t›lacakt›r.
(f) Intangible assets
Intangible assets represent trade names and rights and are stated
at monetarily corrected cost less accumulated amortisation.
Amortisation is charged to the income statement on a straight-line
basis over the estimated useful lives of intangible assets. The
estimated useful lives are ten years.
(g) Goodwill
Goodwill arising on acquisition of subsidiaries represents the
excess of the cost of the acquisition over the Company’s interest in
the fair value of the net identifiable assets acquired. Goodwill is
reflected in the balance sheets at monetarily corrected cost less
accumulated amortisation and is amortised on a straight-line basis
over 15 years, the time during which benefits are expected to be
consumed.
(h) De¤er düflüklü¤ü
fiirket’in varl›klar›n›n defter de¤erinde herhangi bir de¤er düflüklü¤ü
göstergesi olup olmad›¤› bilanço tarihleri itibariyle incelenir. E¤er
herhangi bir gösterge olursa, varl›klar›n yerine koyma maliyeti
tahmin edilir. Varl›klar›n defter de¤eri yerine koyma maliyetini
geçerse de¤er düflüklü¤ü meydana gelir. De¤er düflüklü¤ü kar
zarar tablosunda gösterilir.
(h) Impairment
The carrying amounts of the Company’s assets are reviewed at
each balance sheet date to determine whether there is any
indication ofimpairment. If any such indication exists, the asset’s
recoverable amount is estimated. An impairment loss is recognised
whenever thecarrying amount of an asset or its cash-generating unit
exceeds its recoverable amount. Impairment losses are recognised
in the incomestatement.
(i) Stoklar
Stoklar parasal olarak düzeltilmifl maliyetleri ve net gerçekleflebilir
de¤erlerinin düflük olan›yla gösterilirler. Net gerçekleflebilir de¤er,
stoklar›n tahmini sat›fl fiyatlar›ndan tahmini tamamlama ve sat›fl
giderleri düflüldükten sonra kalan k›s›md›r.
(i) Inventories
Inventories are stated at the lower of monetarily corrected cost and
net realisable value. Net realisable value is the estimated selling
price in the ordinary course of business, less the estimated costs of
completion and selling expenses.
Stoklar a¤›rl›kl› ortalama maliyet yöntemi kullan›larak
de¤erlendirilmektedir, ayr›ca bunlar›n elde edilmesi ve olmalar›
gereken yere ve konuma getirilmeleri sürecinde oluflan giderleri de
kapsamaktad›r.
The cost of inventories is based on the weighted average principle
and includes expenditure incurred in acquiring the inventories and
bringing them to their existing location and condition.
(j) Nakit ve nakit benzeri de¤erler
Nakit ve nakit benzeri de¤erler kasa ve bankalar ve k›sa vadeli
menkul de¤erleri içermektedir.
(k) Banka kredileri
Banka kredileri ilk olarak ifllem masraflar› düflüldükten sonra kalan
net maliyet de¤erleriyle gösterilirler. Bu ilk ifllemden sonra krediler
amortize edilmifl maliyetleri ile gösterilirler, maliyetleri ile geri ödeme
tutarlar› aras›ndaki farklar ise kredi geri ödeme tarihine kadar gelir
tablosunda takip edilmektedir.
(l) K›dem tazminat›
Yürürlükteki kanunlara göre fiirket, emeklilik dolay›s›yla veya istifa ve
ifl kanununda belirtilen davran›fllar d›fl›ndaki sebeplerle istihdam›
sona eren çal›flanlara belirlenen miktarda ödeme yapmakla
yükümlüdür. K›dem tazminat› karfl›l›¤›, çal›flanlar›n k›dem y›llar› ve
maafllar› dikkate al›narak bilanço tarihi itibariyle hesaplanm›fl ve mali
tablolara yans›t›lm›flt›r. K›dem tazminat› karfl›l›¤› bilanço tarihi
itibariyle tüm çal›flanlar bu tür bir ödemeye tabi tutulacakm›fl gibi
hesaplanm›flt›r.
(m) Karfl›l›klar
Bir karfl›l›¤›n bilançoda gösterilebilmesi için, fiirket’in geçmiflten
gelen bir yasal veya taahhüte ba¤l› yükümlülü¤ünün olmas›, ve
ekonomik bir kazanç ç›k›fl›n›n bu yükümlülü¤ün yerine getirilmesi
için muhtemel olmas› gerekmektedir. E¤er etkisi önemli ise,
provizyonlar tahmini nakit ak›fl›n›n iskonto edilmesiyle belirlenir.
(n) Ticari ve di¤er alacak ve borçlar›n reeskontu
Vadeleri bir aydan uzun olan ticari ve di¤er alacaklar/borçlar, bunlar
üzerinde geçerli olan faiz oran› kullan›larak ileriki dönemde
gerçekleflmesi beklenen getirileri gözönüne al›narak bugünkü
de¤erlerine getirilirler.
(o) Az›nl›k paylar›
Özkaynaklar ve net kar içindeki az›nl›k paylar› bilanço ve gelir
tablolar›nda ayr› olarak gösterilmifltir. 31 Aral›k 1998 itibariyle Turcas
Petrolcülük A.fi.’nin operasyonlar› ve net aktiflerine ba¤l› olarak
oluflan az›nl›k paylar› halka aç›k k›sma aittir.
(j) Cash and cash equivalents
Cash and cash equivalents comprises cash and bank balances and
short-term investments in marketable securities.
(k) Interest-bearing borrowings
Interest-bearing borrowings are recognized initially at cost, net of
any transaction costs incurred. Subsequent to initial recognition,
interest-bearing borrowings are stated at amortised cost with any
difference between cost and redemption value being recognized in
the income statement over the period of the borrowings.
(l) Severance pay liability
In accordance with the existing social legislation in Turkey, the
Company is required to make certain lump-sum payments to
employees whose employment is terminated due to retirement or for
reasons other than resignation or misconduct. Such payments are
calculated on the basis of an agreed formula, are subject to certain
upper limits and are recognized in the accompanying consolidated
financial statements as accrued. Total reserve for severance
payments represents the vested benefit obligation assuming the
termination of the employment of all employees eligible for such
termination benefits at the balance sheet date.
(m) Provisions
A provision is recognized in the balance sheet when the Company
has a legal or constructive obligation as a result of a past event,
and it is probable that an outflow of economic benefits will be
required to settle the obligation. If the effect is material, provisions
are determined by discounting the expected future cash flows at a
pre-tax rate that reflects current market assessments of the time
value of money and, where appropriate, the risks specific to the
liability.
(n) Discounting of trade and other receivables and payables
Trade and other receivable/payable having a longer maturity of
more than one month to their due dates are discounted to the
present value of expected future cash flows, using the effective
interest rate inherent in the receivable and payable.
(o) Minority interest
Minority interests in the shareholders’ equity and net income are
separately classified in the balance sheets and income statements.
As of December 31, 1998 minority interest is that part of the net
results of operations and of net assets of Turcas Petrolcülük A.fi
attributable to interest, which are publicly hold.
57
(p) Gelir ve maliyetlerin kaydedilmesi
(p) Revenue and expense recognition
(i) Sat›lan mallar
Sat›lan mallarla ilgili elde edilen gelirler, mülkiyetle ilgili önemli risk
veya getiriler al›c›ya geçti¤i tarihten itibaren gelir tablosunda
gösterilirler. E¤er sat›lan mala iliflkin maliyetlerin karfl›lanamayaca¤›
veya mal›n geri iadesi konusunda önemli belirsizlikler varsa gelir
tablosuna bununla ilgili herhangi bir gelir kaydedilmez.
(i) Goods sold
Revenue from the sale of goods is recognized in the income
statement when the significant risks and rewards of ownership have
been transferred to the buyer. No revenue is recognized if there are
significant uncertainties regarding recovery of the consideration
due, associated costs or the possible return of goods.
(ii) Faaliyet giderleri
Sat›fllar›n maliyeti, a¤›rl›kl› ortalama kullan›larak belirlenmektedir.
Maliyetler, sat›n alma ile ilgili tüm giderleri, dönüfltürme maliyeti ve
mallar› bulunduklar› yere ve konuma getirmek için oluflan giderleri
içermektedir. Pazarlama sat›fl ve genel yönetim giderleri olufltuklar›
anda gider olarak kaydedilirler.
(ii) Operational expenses
Cost of sales is determined using the weighted average method.
Costs include all costs of purchase, cost of conversion and other
costs incurred in bringing the inventories to their present location
and condition. Selling and marketing and general and
administrative expenses are charged to expense when incurred.
(iii) Net finansman giderleri
Net finansman giderleri, kredilerle ve finansal kiralama borçlar› ile
ilgili ödenen faizler, menkul k›ymetler ve mevduatlardan al›nan
faizler, ve borç ve alacak reeskontlar› sonucu oluflan kar veya
zararlar›ndan oluflmaktad›r. Net finansman giderleri gelir tablosunda
gösterilmektedir.
(iii) Net financing costs
Net financing costs comprise interest payable on borrowings and
lease obligations, interest receivable on deposits and marketable
securities, and gains and losses on discounting receivable and
payable that are recognized in the income statement .
Al›nan kredilerle ilgili oluflan bütün faizler ve di¤er giderler
olufltuklar› anda net finansman giderlerinin bir bölümü olarak
giderlefltirilirler. Finansal kiralama ödemeleri ile ilgili oluflan faiz
giderleri ise gelir tablosunda efektif faiz oran› metodu kullan›larak
masraflaflt›r›l›rlar.
(r) Gelir vergisi
Dönemin kar ve zarar› üzerindeki gelir vergisi yükümlülü¤ü, cari y›l
vergisi ve ertelenmifl vergiyi içermektedir. Gelir vergisi gelir
tablosunda takip edilmektedir.
Cari y›l vergi yükümlülü¤ü, dönem kar›n›n vergiye tabi olan k›sm›
üzerinden ve bilanço tarihinde geçerli olan vergi oranlar› ile
hesaplanan vergi yükümlülü¤ünü ve geçmifl y›llardaki vergi
yükümlülü¤ü ile ilgili düzeltme kay›tlar›n› içermektedir.
Ertelenmifl vergi yükümlülü¤ü veya alaca¤› varl›klar›n ve borçlar›n
mali tablolarda gösterilen de¤erleri ile yasal vergi matrah›
hesab›nda dikkate al›nan tutarlar› aras›ndaki "Zamanlama
farkl›l›klar›"n›n bilanço yöntemine göre vergi etkilerinin
hesaplanmas›yla belirlenmektedir. Ertelenmifl vergi yükümlülü¤ü
veya alaca¤›, sözkonusu zamanlama farkl›l›klar›n›n ortadan
kalkaca¤› ilerideki dönemlerde ödenecek vergi tutarlar›nda
yapacaklar› tahmin edilen art›fl ve azal›fl oranlar›nda iliflikteki mali
tablolara yans›t›lmaktad›rlar. Ertelenmifl vergi alaca¤›, gelecek
dönemlerde vergi avantaj›n›n sa¤lanmas› olas› durumlarda ayr›l›r.
Bu alacaktan art›k yararlan›lamayaca¤› anlafl›ld›¤› oranda ilgili
aktiften silinir.
58
All interest and other costs incurred in connection with borrowings
are expensed as incurred as part of net financing costs. The
interest expense component of finance lease payments is
recognized in the income statement using the effective interest rate
method.
(r) Income tax
Income tax on the profit or loss for the year comprises current and
deferred tax. Income tax is recognized in the income statement.
Current tax is the expected tax payable on the taxable income for
the year or period, using tax rates enacted or substantially enacted
at the balance sheet date, and any adjustment to tax payable in
respect of previous years.
Deferred tax is provided using the balance sheet liability method,
providing for temporary differences between the carrying amounts
of assets and liabilities for financial reporting purposes and the
amounts used for taxation purposes. The amount of deferred tax
provided is based on the expected manner of realization or
settlement of the carrying amount of assets and liabilities, using tax
rates enacted or substantially enacted at the balance sheet date.
A deferred tax asset is recognized only to the extent that it is
probable that future taxable profits will be available against which
the unused tax losses and credits can be utilized. Deferred tax
assets are reduced to the extent that it is no longer probable that
the related tax benefit will be realized.
31 Aral›k, 2000, 1999 ve 1998 Hesap Dönemlerine Ait
Konsolide Mali Tablolara ‹liflkin Dipnotlar
(Birim - Milyon Türk Liras›)
(Bakiyeler UMS 29 uyar›nca ve enflasyon etkilerini yans›tacak
flekilde Türk Liras›’n›n 31 Aral›k 2000 tarihindeki sat›nalma gücü
cinsinden ifade edilmifltir.)
Notes to Financial Statements
December 31, 2000, 1999 and 1998
(Currency - Millions of Turkish Lira)
(As adjusted for the effects of inflation in TL units current at
December 31, 2000 pursuant to IAS 29)
1. Di¤er faaliyet gelirleri
1. Other operating income
Milyon TL
Komisyon geliri, net
Kira geliri
Bayilik hakk› geliri
Di¤er
Ara.00
4,811,357
530,527
410,764
209,867
Ara.99
2,502,065
704,772
83,216
338,209
Ara.98
1,563,230
420,426
322,029
346,927
5,962,515
3,628,262
2,652,612
In millions of TL
Commission income, net
Rent income
Income from agent rights
Others
Dec.00
4,811,357
530,527
410,764
209,867
Dec.99
2,502,065
704,772
83,216
338,209
Dec.98
1,563,230
420,426
322,029
346,927
5,962,515
3,628,262
2,652,612
Komisyon gelirleri ‹pragaz A.fi taraf›ndan üretilen likit petrol gaz›
("LPG") sat›fllar› sonucu oluflmaktad›r. fiirket LPG sat›fllar›ndan 2000
y›l› içerisinde 3,006,219 TL tutar›nda komisyon geliri elde etmifltir.
Commission income is earned as a result of selling liquid petroleum
gas (LPG) produced by ‹pragaz A.fi.. The Company gets 22.06% of
such LPG sales as commission income.
fiirket ayr›ca Castrol Madeni Ya¤lar Sanayi ve Ticaret A.fi. ("Castrol")
ile yapt›¤› ve 9 May›s 2002’de sona erecek olan anlaflma gere¤i,
Castrol ürünlerinin kendi istasyonlar›nda sat›fl› ve pazarlamas›
sonucunda da komisyon geliri elde etmektedir. Castrol fiirket’e iki
tür komisyon ödemektedir:
The Company also receives commission income from selling and
marketing of Castrol Madeni Ya¤lar Sanayi ve Ticaret A.fi. (Castrol)
products at its own stations due to the terms of the agreement,
which will end on May 9, 2002. Castrol pays two types of
commission to the Company;
-Castrol ürünlerinin fiirket’in istasyonlar›na yap›lan net sat›fllar›n
belirli bir oran›nda sat›fl komisyonu, (2000 y›l› için TL 1,538,589)
-sales commission, which is 12% of net sales of Castrol products
directly made to the Company’s stations,
-Her üç ayl›k dönemde ödenen 239,063 ABD Dolar› tutar›nda sabit
komisyon.
-fixed commission of USD 239,063 payable at the end of each
quarter.
Komisyon gelirinin geri kalan k›sm› ise Akaryak›t Yönetim Sistemi
(AYS) sonucu oluflmaktad›r.
The remaining commission income resulted from Fuel Management
System (FMS).
2. Faaliyet giderleri
2. Operating expenses
Milyon TL
Sat›fl ve pazarlama giderleri
Amortisman ve itfa giderleri
Memur ve iflçi ücretleri
Bayi giderleri
Kira giderleri
Tafl›t giderleri
Haberleflme
Reklam
Servis ve dan›flmanl›k giderleri
Di¤er
Ara.00
Ara.99
Ara.98
Dec.99
Dec.98
4,519,644
1,136,984
1,177,339
129,145
96,326
201,057
161,232
1,590,359
In millions of TL
Dec.00
Selling and marketing expenses
5,292,686
Payroll costs
1,312,907
Agent expenses
1,593,803
Rent expense
281,866
Motor vehicles expenses
186,196
Communication
97,270
Advertising
117,833
Service and consultancy expenses 45,749
Others
1,670,703
5,292,686
1,312,907
1,593,803
281,866
186,196
97,270
117,833
45,749
1,670,703
4,858,282
1,134,301
1,230,535
150,112
149,709
95,934
139,713
63,065
2,065,317
4,858,282
1,134,301
1,230,535
150,112
149,709
95,934
139,713
63,065
2,065,317
4,519,644
1,136,984
1,177,339
129,145
96,326
201,057
161,232
1,590,359
10,599,013
9,886,968
9,012,086
10,599,013
9,886,968
9,012,086
Genel yönetim giderleri
Ara.00
Amortisman ve itfa
4,553,701
Memur ve iflçi ücretleri
1,996,002
Servis ve dan›flmanl›k giderleri
788,587
334,573
Kira gideri
293,476
Vergi ve di¤er yükümlülükler
115,940
Haberleflme
116,128
Di¤er
1,178,791
Ara.99
4,061,004
1,853,432
642,783
328,439
355,795
379,176
98,034
1,175,808
Ara.98
4,011,189
1,810,859
802,249
265,005
401,691
167,480
84,140
580,266
General and administrative
expenses
Dec.00
4,553,701
Payroll costs
1,996,002
Service and consultancy expenses 788,587
Severance pay provision
334,573
Rent expense
293,476
Taxes and duties
115,940
Communication
116,128
Others
1,178,791
Dec.99
4,061,004
1,853,432
642,783
328,439
355,795
379,176
98,034
1,175,808
Dec.98
4,011,189
1,810,859
802,249
265,005
401,691
167,480
84,140
580,266
9,377,198
8,894,471
8,122,879
9,377,198
8,894,471
8,122,879
Dec.00
3,308,909
Dec.99
2,987,733
Dec.98
2,947,843
298,733
334,573
256,952
328,439
34,600
265,005
3,942,215
3,573,124
3,247,448
3. Personel giderleri
3. Personnel expenses
Milyon TL
Ücret ve maafllar
Zorunlu sosyal güvenlik ve
di¤er yard›mlar
Ara.00
3,308,909
Ara.99
2,987,733
Ara.98
2,947,843
298,733
334,573
256,952
328,439
34,600
265,005
3,942,215
3,573,124
3,247,448
31 Aral›k 2000 itibariyle ortalama personel say›s› 195’dir (1999: 190;
1998: 170).
In millions of TL
Wages and salaries
Compulsory social security
and other contributions
Severance pay provision
The average number of employees during December 31, 2000 is
195 (1999: 190; 1998: 170).
59
4. Net finansman gideri
4. Net financing costs
Milyon TL
Ara.00
Faiz gideri
(7,875,970)
Komisyon gideri
(2,367,069)
Çek ve senet alacaklar›
reeskont geliri/gideri, net
(346,510)
Kur fark› gideri, net
(5,911,932)
Teminat mektubu komisyonlar› (354,415)
Repo geliri
558,446
Vade fark›
20,281
Faiz geliri
235,365
Di¤er
(315,252)
Ara.99
Ara.98
(8,178,974) (5,300,295)
(2,784,454) (751,132)
(1,178,641)
(6,432,933)
(1,588)
655,433
657,709
1,070,826
6,048
24,633
(165,176)
(690,972)
216,594
98,269
1,938,637
(885,063)
In millions of TL
Dec.00
Interest expense
(7,875,970)
Commission expense
(2,367,069)
Discount income/ expense on
cheques & notes receivable, net (346,510)
Foreign exchange loss, net
(5,911,932)
Letters of guarantee commissions (354,415)
Income from repurchasing
agreement
558,446
Due date difference
20,281
Interest income
235,365
Others
(315,252)
Dec.99
Dec.98
(8,178,974) (5,300,295)
(2,784,454)
(751,132)
(1,178,641)
(6,432,933)
(1,588)
24,633
(165,176)
(690,972)
655,433
657,709
1,070,826
6,048
216,594
98,269
1,938,637
(885,063)
(16,357,056)(16,186,574) (5,514,505)
(16,357,056) (16,186,574) (5,514,505)
5. Vergi karfl›l›¤›
1998 y›l›nda, kurumlar vergisi oran› %25 idi. ‹lave olarak, kurum
kazanc›ndan kurumlar vergisi düflüldükten sonra kalan tutar
üzerinde maksimum %20 (borsada ifllem gören flirketler için %10)
oran›nda gelir vergisi stopaj› vard›. Yukar›da belirtilen oranlar, %10
olan fon kesintileri ile birlikte s›ras›yla %27.5 kurumlar vergisi, %22
gelir vergisi ve dolay›s›yla %44 toplam efektif vergi oran›na
ulaflmaktayd›.
Temmuz 1998’de yürürlü¤e giren vergi kanunu ile 1 Ocak 1999
tarihinden itibaren geçerli olmak üzere kurumlar vergisi ve gelir
vergisi ile ilgili önemli de¤ifliklikler yap›lm›flt›r. Buna göre kurumlar
vergisi oran› %30 olmufltur; %10 fon kesintisi ile birlikte toplam
kurumlar vergisi yükü %33 olmaktad›r. Di¤er taraftan Bakanlar
Kurulu’na %25’i geçmemek üzere gelir vergisi için stopaj oran›n› da
belirleme yetkisi verilmifltir; ve Bakanlar Kurulu bu oran› %15 olarak
belirlemifltir (borsada hisseleri ifllem gören flirketler için bu oran
%5’dir). Bu flekilde belirlenecek stopaj %10 tutar›nda fon kesintisine
tabidir. Bu konuda yap›lan di¤er önemli bir de¤ifliklik ise gelir vergisi
stopaj›n›n sadece kar pay› olarak da¤›t›lacak tutarlara uygulanmas›
esas›n›n getirilmesidir.
Yat›r›m indirimi kurumlar vergisinden muaft›r, fakat %18 oran›ndaki
gelir vergisine tabidir; %10 oran›nda fon kesintisi ile vergi yükü
efektif olarak %19.8’e gelmektedir.
Türk vergi sistemine göre, oluflmufl zararlar ileriki senelerde
oluflabilecek vergiye tabi karlar› netlefltirmek amac› ile yaln›zca 5 y›l
ileriye tafl›nabilirler. Zararlar geçmifl dönem karlar›n› netlefltirmek
amac› ile geriye tafl›namazlar.
Gelir vergisi için ayr›lan toplam karfl›l›k, afla¤›da mutabakat› yap›ld›¤›
üzere gelir vergisi karfl›l›¤› ayr›lmadan önce gelire uygulanan yasal
vergi oran› kullan›larak hesaplanandan farkl›d›r:
60
5. Income tax expense
By 31 December 1998, the corporation tax was charged at the rate
of 25%. In addition, an income tax charge at the rate of maximum
20% (for companies of which shares are publicly traded; 10%) on
income after corporation tax was applied. Contribution to a state
fund was levied at 10% of taxation payable, which resulted in
maximum effective corporation tax, income tax and combined tax
rates of 27.5%, 22% and 44%, respectively.
A new act passed in the Parliament in July 1998, made significant
changes on corporation tax charges effective for periods starting on
or after 1 January 1999. Accordingly, the corporation tax was
amended as 30%; contribution to state fund remained as 10% of
this tax, which resulted in effective corporation tax rate of 33%. In
addition, there will be an income tax charge. Council of Ministers
was authorised to determine income tax rate up to the level of 25%;
contribution to state fund remained as 10% on this tax as well;
presently, this income tax charge is at the rate of 15% (for
companies of which shares are publicly traded; 5%). However,
pursuant to this new legislation, income tax charge is computed
only on the amounts of dividend distribution and is accrued only at
the time of such payments.
The investment tax credits are exempt from corporation taxes but
are subject to an income tax charge at the rate of 18%; contribution
to state fund is levied at 10%, which results in an effective income
tax rate of 19.8%.
Under the Turkish taxation system, losses can be carried forward to
offset against future taxable income for up to 5 years. Losses
cannot be carried back to offset profits from previous periods.
The total provision for taxes on income is different than the amount
computed by applying the statutory tax rate to income before
provision for taxes on income as shown in the following
reconciliation for the years ended 31 December 2000, 1999 and
1998:
Gelir tablolar›nda takip edilen
Milyon TL
Cari dönem vergi giderleri:
Cari y›l
Parasal kalemlerin bilanço
tarihindeki TL birimi
cinsinden UMS 29’a göre
yeniden ifade
edilmesinin etkisi
Ertelenmifl vergi giderleri:
Zamanlama fark›n›n oluflmas›
ve ters çevrilmesi
Vergi oranlar›ndaki azalman›n
etkisi
Parasal kalemlerin bilanço
yeniden ifade
edilmesinin etkisi
Recognised in the income statement
Ara.00
Ara.99
Ara.98
(150,016) (4,320,052) (1,752,282)
(16,215) (1,144,397) (330,231)
(166,231) (5,464,449) (2,082,513)
(461,407)
1,669,779
(860,911)
-
-
2,288,586
(49,873) (1,893,006) (1,244,823)
(511,280) (223,227)
182,852
Gelir tablosundaki toplam vergi
karfl›l›¤›
(677,511) (5,687,676) (1,899,661)
Efektif vergi oran›n›n mutabakat›
Milyon TL
Ara.00
Ara.99
Ara.98
Vergi öncesi kar
11,196,084 2,875,489 4,590,620
Yasal oran kullan›larak
hesaplanan gelir vergisi
(3,694,708) (948,911) (1,514,905)
Vergi oran›ndaki azalma
- 2,288,585
‹ndirilemeyen giderler
(3,426,379) (4,623,547) (820,729)
Gelir tablosunda yer almayan
vergi teflvikleri
- 3,250,629
‹ndirilemeyen parasal olmayan
kalemlerin yeniden ifade
edilmesi
6,509,664 2,922,185 (3,528,187)
Vergi yükünün bilanço
yeniden ifade
edilmesinin etkisi
(66,088) (3,037,403) (1,575,054)
Vergi karfl›l›¤›
(677,511) (5,687,676) (1,899,661)
In millions of TL
Current tax expense:
Current year
Monetary restatement
Deferred tax expense:
Origination and reversal of
temporary differences
Reduction in tax rate
Monetary restatement
Total income tax expense in
income statement
Dec.00
Dec.99
Dec.98
(150,016) (4,320,052) (1,752,282)
(16,215) (1,144,397) (330,231)
(166,231) (5,464,449) (2,082,513)
(461,407) 1,669,779 (860,911)
- 2,288,586
(49,873) (1,893,006) (1,244,823)
(511,280) (223,227)
182,852
(677,511) (5,687,676) (1,899,661)
Reconciliation of effective tax rate
In millions of TL
Dec.00
Dec.99
Dec.98
Profit before tax
11,196,084 2,875,489 4,590,620
Income tax using the domestic
corporation tax rate
(3,694,708) (948,911) (1,514,905)
Reduction in tax rate
- 2,288,585
Non-deductible expenses
(3,426,379) (4,623,547) (820,729)
Tax incentives not recognised
in the income statement
- 3,250,629
Non-deductible non-monetary
item restatements
6,509,664 2,922,185 (3,528,187)
Monetary restatement on tax
charge
(66,088) (3,037,403) (1,575,054)
Income tax expense
(677,511) (5,687,676) (1,899,661)
The Company has obtained investment incentive certificates for its
capital expenditures to be made for the construction of two vessels.
In order to support investments, the government decided to
subsidise companies by giving the right of tax exemption to certain
investments. The total amount of investment incentives was TL
8,206,186. The Company has totally utilized this amount as of
December 31, 2000.
fiirket yapt›rd›¤› iki geminin harcamalar›n› karfl›lamak için yat›r›m
teflvi¤i alm›flt›r. Hükümet yat›r›mlar› desteklemek için belirli yat›r›mlar›
vergi muafiyeti yoluyla teflvik etmifltir. Yat›r›m teflviklerinin toplam
tutar› 8,206,186 TL dir. fiirket bu miktar›n tamam›n› 31 Aral›k 2000
itibariyle kullanm›flt›r.
61
62
Cost
Balance at 1 January 1998
Additions
Disposals
Balance at 31 December 1998
Additions
Disposals
Additions
Disposals
6. Property, plant and equipment
In millions of TL
Maliyet
1 Ocak 1998 bakiyesi
Girifller
Ç›k›fllar
31 Aral›k 1998 bakiyesi
Girifller
Ç›k›fllar
Girifller
Ç›k›fllar
6. Maddi duran varl›klar
Milyon TL
5,093,153
(12,790)
5,080,363
1,883
5,082,246
2,526
5,084,772
Land &
buildings
5,093,153
(12,790)
5,080,363
1,883
5,082,246
2,526
5,084,772
Bina ve
araziler
4,467,783
38,023
4,505,806
18,501
4,524,307
15,552
4,539,859
Land
improvements
4,467,783
38,023
4,505,806
18,501
4,524,307
15,552
4,539,859
Yeralt› ve
yerüstü düzenleri
8,231,747
1,058,922
(2,492)
9,288,177
768,168
(24,708)
10,031,637
504,532
(27,375)
10,508,794
Plant &
equipment
8,231,747
1,058,922
(2,492)
9,288,177
768,168
(24,708)
10,031,637
504,532
(27,375)
10,508,794
Makina
tesis ve cihazlar
797,431
203,564
(363,665)
637,330
223,669
(58,174)
802,825
250,076
(171,940)
880,961
Motor
vehicles
797,431
203,564
(363,665)
637,330
223,669
(58,174)
802,825
250,076
(171,940)
880,961
Motorlu
tafl›tlar
684,147
136,791
(653,093)
167,845
7,204,910
(416,413)
6,956,342
6,946,173
(294,262)
13,608,253
Construction
in process
684,147
136,791
(653,093)
167,845
7,204,910
(416,413)
6,956,342
6,946,173
(294,262)
13,608,253
Yap›lmakta
olan yat›r›mlar
6,284,831
373,205
(20,669)
6,637,367
460,884
(585)
7,097,666
120,588
(48,707)
7,169,547
Leasehold
improvements
6,284,831
373,205
(20,669)
6,637,367
460,884
(585)
7,097,666
120,588
(48,707)
7,169,547
Özel
maliyetler
17,132,080
3,043,951
(48,113)
20,127,918
2,756,084
(177,406)
22,706,596
4,586,600
(263,493)
27,029,703
Furniture
& others
17,132,080
3,043,951
(48,113)
20,127,918
2,756,084
(177,406)
22,706,596
4,586,600
(263,493)
27,029,703
Demirbafl
ve di¤er
42,691,172
4,854,456
(1,100,822)
46,444,806
11,434,099
(677,286)
57,201,619
12,426,047
(805,777)
68,821,889
Total
42,691,172
4,854,456
(1,100,822)
46,444,806
11,434,099
(677,286)
57,201,619
12,426,047
(805,777)
68,821,889
Toplam
Amortisman
1 Ocak 1998 bakiyesi
Dönem içi amortisman gideri
Dönem içi ç›k›fllar
20,434,016
4,166,646
(168,965)
24,431,697
2,611,806
(260,871)
26,782,632
4,186,327
(329,567)
30,639,392
Depreciation
Balance at 1 January 1998
Depreciation charge for the year
Disposals during the year
Depreciation charge for the year
Disposals during the year
Depreciation charge for the period
Disposals during the period
20,434,016
4,166,646
(168,965)
24,431,697
2,611,806
(260,871)
26,782,632
4,186,327
(329,567)
30,639,392
Defter de¤eri
1 Ocak 2000 itibariyle
31 Aral›k 2000 itibariyle
30,418,987
38,182,497
Carrying amount
At 1 January 2000
At 31 December 2000
30,418,987
38,182,497
31 Aral›k 2000 itibariyle sabit k›ymetler için verilen avanslar
2,762,897 TL (1999: 3,088,065 TL, 1998: 2,779,618 TL) tutar›ndad›r
(Not 21).
As of December 31, 2000, advances given for fixed assets
amounted TL 2,762,897 (1999: TL 3,088,065, 1998: TL 2,779,618)
(refer Note 21).
Finansal kiralama yoluyla elde edilen tesis ve makineler
fiirket finansal kiralama sözleflmeleri yoluyla makine, tesis ve
motorlu tafl›tlar kiralamaktad›r. Her finansal kiralama sözleflmesi
bitiflinde flirket sembolik bir fiyata cihazlar› alma hakk›na sahiptir.
Finansal kiralama ödemeleri flarta ba¤l› ödemeleri
kapsamamaktad›r. Kiralanan cihazlar finansal kiralama
yükümlülüklerini güvence alt›na almaktad›r (Not 17).
Leased plant and machinery
The Company leases machinery and equipment and motor vehicles
under a number of finance lease agreements. At the end of each of
the leases the Company has the option to purchase the equipment
at a beneficial price. Lease payments do not include contingent
rent. The leased equipment secures lease obligations (refer Note
17).
Yap›lmakta olan yat›r›mlar
Property, plant and equipment under construction
Yap›lmakta olan yat›r›mlar esas olarak iki adet geminin yap›m›yla
ilgilidir.
Property, plant and equipment under construction mainly represent
construction of two vessels.
7. Maddi olmayan duran varl›klar
7. Intangible assets
Maddi olmayan duran varl›klar ticari ünvanlar›n 16 y›ll›¤›na
kullan›lma hakk›ndan oluflmaktad›r. Bu haklar 17 Haziran 1996’dan
itibaren kullan›lmaya bafllanm›flt›r. fiirket A¤ustos 2000’de
anlaflman›n vadesini Türkpetrol Vakf›’na yapt›¤› 600,000 ABD
Dolar’l›k ek ödemeyle uzatm›flt›r.
Intangible assets comprise rights of usage of trade names for 16
years, starting from June 17, 1996. The Company has extended the
due date of the agreement in August 2000 with an additional
payment of USD 600,000 to Türkpetrol Vakf›.
8. Goodwill, net
8. fierefiye, net
Marmara Petrol Rafineri ‹flleri A.fi.’nin 1996’daki %100 oran›nda
direk al›m›ndan ve Turcas Petrolcülük A.fi.’nin 1996’ daki %82.16’l›k
al›m›ndan gelen flerefiye, toplam elde etme maliyetinin bu firmalar›n
al›fl tarihindeki net varl›klar›n›n gerçek de¤erleri aras›ndaki olumlu
farktan oluflmaktad›r.
Goodwill resulting from the direct acquisition of 100% ownership in
Marmara Petrol Rafineri ‹flleri A.fi. in 1996 and the direct acquisition
of 82.16% of Turcas Petrolcülük A.fi. in 1996 consist of the excess
of the total acquisition costs over the net assets of these entities at
the dates of acquisitions.
Such goodwill amounts relating to the acquisitions of Marmara and
Turcas Petrolcülük A.fi. are amortized on a straight line basis over
15 years.
Marmara ve Turcas Petrolcülük A.fi.’nin al›m›ndan oluflan
flerefiye’nin itfas› 15 y›l boyunca düz amortisman yöntemi
kullan›larak hesaplan›r.
9. Other non-current assets
9. Di¤er duran varl›klar
Di¤er duran varl›klar, istasyon sahiplerine verilen krediler, peflin
ödenmifl kira giderinin uzun vadeli k›sm› ve peflin ödenmifl sigorta
giderlerinden oluflur. ‹stasyon sahiplerine verilen kredilerin vade
ayr›m› afla¤›daki gibidir;
Other non-current assets represent loans given to station owners
and long-term portion of prepaid rent and prepaid insurance
expenses. Maturity distribution of loans given to stations owners are
as follows;
In millions of TL
Milyon TL
‹stasyon sahiplerine verilen
krediler
Di¤er
Toplam
2002 Y›l›
2003-2005 Y›l›
520,097
158,378
Toplam
678,475
1,014,196
1,692,671
Loans to station owners
Others
Total
Year 2002 Year 2003-2005
520,097
158,378
Total
678,475
1,014,196
1,692,671
63
10. ‹fltirakler ve ba¤l› ortakl›klar
Nominal
De¤er
Ambarl› Depolama
Hizmetleri Ltd. fiti.
Atafl Anadolu
Tasfiyehanesi A.fi.
10. Investments in associates and other investments
Ara.00
Ara.99 Ara.98
Defter Hisse Defter Defter
De¤eri Oran› De¤eri De¤eri
250
3,180
%50
3,180
3,180
250
832
%5
832
832
4,012
4,012
4,012
Ambarl› Depolama
Hizmetleri Ltd. fiti.
Atafl Anadolu
Tasfiyehanesi A.fi.
250
3,180
50%
3,180
3,180
250
832
5%
832
832
4,012
4,012
4,012
‹fltirakler maliyet de¤erleri üzerinden muhasebelefltirilmifllerdir.
Investments are accounted at cost.
11. Stoklar
11. Inventories
Milyon TL
Ticari Mallar
Mamüller
Hammadde
Yar› mamüller
Verilen avanslar
Di¤er stoklar
Ara.00
9,920,207
1,622,968
589,074
249,226
787
66,675
Ara.99
5,884,130
884,201
922,341
312,990
6,482
28,729
Ara.98
2,955,287
454,695
469,419
101,122
1,971,793
544,658
12,448,937
8,038,873
6,496,974
Verilen avanslar, hammadde ve ticari mal al›mlar› için yap›lan
ödemeleri gösterir.
64
Dec.00
Dec.99 Dec.98
Nominal Carrying
% of Carrying Carrying
Value
Value ownership
Value
Value
In millions of TL
Trading goods
Finished goods
Raw materials
Work in progress
Advances given
Other stocks
Dec.00
9,920,207
1,622,968
589,074
249,226
787
66,675
Dec.99
5,884,130
884,201
922,341
312,990
6,482
28,729
Dec.98
2,955,287
454,695
469,419
101,122
1,971,793
544,658
12,448,937
8,038,873
6,496,974
Advances given represent payments for purchases of raw material
and trading goods
65
Ara.00
208,748
100,217
412,451
2,764,844
164,507
3,650,767
3,650,767
Aktifler
Ara.99
109,660
77,916
196,835
94,497
1,217,720
51,842
1,748,470
571,045
2,319,515
Dec.00
208,748
100,217
412,451
2,764,844
164,507
3,650,767
3,650,767
Movement in temporary differences during the year
In TL millions
Balance
1 Jan.99
920,787
Intangible assets
1,523,404
(54,922)
Other current liabilities
(40,399)
(63,431)
Carryforward losses
(335,167)
Other items
748,942
Tax (assets)/liabilities
2,699,214
Restatement of the balances
3,134,163
Net tax (assets)/liabilities
5,833,377
Intangible assets
Advances taken
Other current liability
Carryforward losses
Other items
Tax (assets)/liabilities
Restatement of the balances
Net tax (assets)/liabilities
In TL millions
Assets
Dec.99
109,660
77,916
196,835
94,497
1,217,720
51,842
1,748,470
571,045
2,319,515
Recognised deferred tax assets and liabilities
Deferred tax assets and liabilities are attributable to the following items:
12. Deferred tax assets and liabilities
Dönem içindeki zamanlama farkl›l›klar› hareket tablosu
Milyon TL
1 Oca.99
Bakiyesi
920,787
1,523,404
(54,922)
Di¤er k›sa vadeli borçlar
(40,399)
(63,431)
Geçmifl y›llardan tafl›nan zararlar
(335,167)
Di¤er
748,942
Vergi (alacaklar›)/borçlar›
2,699,214
Bakiyelerin yeniden ifadesi
3,134,163
Net vergi (alacaklar›)/borçlar›
5,833,377
Al›nan avanslar
Di¤er k›sa vadeli borçlar
Geçmifl y›llardan tafl›nan zararlar
Di¤er
Vergi (alacaklar›)/borçlar›
Bakiyelerin yeniden ifadesi
Net vergi (alacaklar›)/borçlar›
Milyon TL
Kaydedilen ertelenmifl vergi alacak ve borçlar›
Ertelenmifl vergi alacak ve borçlar› ile alakal› hesaplar afla¤›daki gibidir:
12. Ertelenmifl vergi alacak ve borçlar›
Recognised
during the year
966,450
1,042,677
(54,738)
4,845
(31,066)
(882,553)
(606,276)
439,339
(2,109,118)
(1,669,779)
Dec.98
54,922
40,399
63,431
335,167
106,284
600,203
696,919
1,297,122
Y›l içinde
gerçekleflen
966,450
1,042,677
(54,738)
4,845
(31,066)
(882,553)
(606,276)
439,339
(2,109,118)
(1,669,779)
Ara.98
54,922
40,399
63,431
335,167
106,284
600,203
696,919
1,297,122
Dec.00
4,406,776
2,554,936
212,795
76,220
7,250,727
7,250,727
Ara.00
4,406,776
2,554,936
212,795
76,220
7,250,727
7,250,727
Balance
31 Dec.99
1,887,237
2,566,081
(109,660)
(35,554)
(94,497)
(1,217,720)
142,665
3,138,552
1,025,045
4,163,597
Liabilities
Dec.99
1,887,237
2,566,081
239,197
194,507
4,887,022
1,596,090
6,483,112
31 Ara.99
Bakiyesi
1,887,237
2,566,081
(109,660)
(35,554)
(94,497)
(1,217,720)
142,665
3,138,552
1,025,045
4,163,597
Pasifler
Ara.99
1,887,237
2,566,081
239,197
194,507
4,887,022
1,596,090
6,483,112
Ara.00
4,406,776
2,554,936
(208,748)
(100,217)
(199,656)
(2,764,844)
(88,287)
3,599,960
3,599,960
Dec.00
4,406,776
2,554,936
(208,748)
(100,217)
(199,656)
(2,764,844)
(88,287)
3,599,960
3,599,960
Recognised
during the period
2,519,539
(11,145)
(99,088)
(64,663)
(105,159)
(1,547,124)
(230,953)
461,407
Dec.98
920,787
1,523,404
855,226
3,299,417
3,831,082
7,130,499
Dönem
içinde gerçekleflen
2,519,539
(11,145)
(99,088)
(64,663)
(105,159)
(1,547,124)
(230,953)
461,407
Ara.98
920,787
1,523,404
855,226
3,299,417
3,831,082
7,130,499
Net
Dec.99
1,887,237
2,566,081
(109,660)
(77,916)
42,362
(94,497)
(1,217,720)
142,665
3,138,552
1,025,045
4,163,597
Net
Ara.99
1,887,237
2,566,081
(109,660)
(77,916)
42,362
(94,497)
(1,217,720)
142,665
3,138,552
1,025,045
4,163,597
Balance
31 Dec.00
4,406,776
2,554,936
(208,748)
(100,217)
(199,656)
(2,764,844)
(88,288)
3,599,959
Dec.98
920,787
1,523,404
(54,922)
(40,399)
(63,431)
(335,167)
748,942
2,699,214
3,134,163
5,883,377
31 Ara.00
Bakiyesi
4,406,776
2,554,936
(208,748)
(100,217)
(199,656)
(2,764,844)
(88,288)
3,599,959
Ara.98
920,787
1,523,404
(54,922)
(40,399)
(63,431)
(335,167)
748,942
2,699,214
3,134,163
5,883,377
13. Ticari alacaklar ve di¤er dönen varl›klar
13. Trade receivable and other current assets
Ticari Alacaklar
Trade receivable
Milyon TL
Ara.00
Ara.99
Ara.98
Portföydeki vadeli çek
ve senetler
2,956,617 2,467,975 2,271,912
Müflterilerden ticari alacaklar
5,304,364 1,124,764
695,175
Tahsildeki vadeli çek
ve senetler
9,714,364 27,165,969 14,572,978
Vadeli çek ve senet reeskontu (131,601) (691,184) (479,583)
fiüpheli alacak karfl›l›¤›
(212,291)
(66,993)
(922)
Di¤er
300
239,320 1,530,536
In millions of TL
Post-dated cheques and
notes in portfolio
Trade receivable from
customers
Post-dated cheques and
notes at collection
Discount on post-dated
cheques and notes
Provision for doubtful
receivables
Others
17,631,753 30,239,851 18,590,096
Milyon TL
Ara.00
‹stasyon sahiplerine verilen
kredilerin k›sa vadeli k›sm› 1,050,718
Peflin ödenmifl giderler
460,851
‹fl ve di¤er avanslar
30,564
‹ndirilecek KDV
383,688
Di¤er
79,458
Ara.99
Ara.98
656,019
189,908
220,544
76,729
94,322
708,275
404,226
67,362
177,502
94,456
2,005,279
1,237,522
1,451,821
Dec.99
Dec.98
2,956,617
2,467,975
2,271,912
5,304,364
1,124,764
695,175
9,714,364 27,165,969 14,572,978
(131,601)
(691,184)
(479,583)
(212,291)
300
(66,993)
239,320
(922)
1,530,536
17,631,753 30,239,851 18,590,096
In millions of TL
Short-term portion of loans
given to station owners
Prepaid expenses
Job and other advances
VAT deductable
Others
Alacaklar için 15,523,770 TL’lik (1999: 10,404,072 TL, 1998:
905,426TL) teminat bulunmaktad›r (‹potek, banka teminat mektubu
ve di¤erlerini içermektedir).
Dec.00
Dec.99
Dec.98
1,050,718
460,851
30,564
383,688
79,458
656,019
189,908
220,544
76,729
94,322
708,275
404,226
67,362
177,502
94,456
2,005,279
1,237,522
1,451,821
There are guarantees at the amount of TL 15,523,770 (1999:
TL 10,404,072, 1998: TL 905,426) for receivables (including
mortgage, bank letters of guarantee and other).
14. Nakit ve nakit benzeri de¤erler
Milyon TL
Kasa
Bankalar
Vadesi geçmifl çekler
Repo
Dec.00
Ara.00
2,667
363,203
7,558,819
2,615,500
Ara.99
22,845
4,109,709
3,928,486
3,102,623
Ara.98
38,907
3,596,496
1,228,670
690,882
10,540,189 11,163,663
5,554,955
14. Cash and cash equivalents
In millions of TL
Cash on hand
Cash at banks
Due dated cheques
Marketable securities
repurchase agreement
15. Sermaye ve yedekler
Sermaye ve yedeklerin hareket tablosunun mutabakat›
Milyon TL
Dec.00
2,667
363,203
7,558,819
Dec.99
22,845
4,109,709
3,928,486
Dec.98
38,907
3,596,496
1,228,670
2,615,500
3,102,623
690,882
10,540,189 11,163,663
5,554,955
15. Capital and reserves
Sermaye
1 Ocak 1998
bakiyeleri 10,280,005
Yasal yedeklerden
ç›k›fllar
Ödenen temettüler
Yasal yedeklere
girifller
Nakit sermaye
art›fl›
9,303,042
Dönem kar›
31 Aral›k 1998
bakiyeleri
19,583,047
Yasal yedeklerden
ç›k›fllar
Geçmifl y›l zarar›na
transfer
Ödenen temettüler
Yasal yedeklere girifller Dönem zarar›
31 Aral›k 1999
bakiyeleri
19,583,047
Yasal yedeklerden
ç›k›fllar
Geçmifl y›l zarar›na
transfer
Yasal yedeklere
girifller
Dönem kar›
31 Aral›k 2000
bakiyeleri 19,583,047
66
Emisyon
Yasal Geçmifl y›l
Cari y›l
Primi Yedekler Kar›/(Zarar›) Kar›/(Zarar›)Özkaynaklar
26,560,022
163,218 (20,410,244)
- 16,593,001
-
(99,369)
-
99,369
(1,748,582)
- (1,748,582)
-
827,068
(827,068)
-
-
-
-
-
899,589
9,303,042
899,589
26,560,022
890,917 (22,886,525)
- (136,722)
- 1,081,350
-
136,722
899,589 25,047,050
-
-
899,589 (899,589)
(1,423,592)
- (1,423,592)
(1,081,350)
- (2,812,187) (2,812,187)
26,560,022 1,835,545 (24,355,156) (2,812,187) 20,811,271
- (451,896)
-
-
-
10,655
-
451,896
-
-
(2,812,187)
2,812,187
-
(10,655)
- 10,518,573 10,518,573
26,560,022 1,394,304 (26,726,102) 10,518,573 31,329,844
Reconciliation of movement in capital and reserves
In millions of TL
Share
Share
Legal
Capital Premium Reserve
Balances at
January 1, 1998 10,280,005
Release from
legal reserve
Dividends paid
Transfer to
legal reserves
Share capital
increase-cash
9,303,042
Profit for the year
Balances at December
31, 1998
19,583,047
Release from
legal reserve
Transfer to retained
earnings
Dividends paid
Transfer to
legal reserves
Loss for the year
31, 1999
19,583,047
Release from
legal reserve
Transfer to retained
earnings
Transfer to legal
reserves
Profit for the period
31, 2000
19,583,047
Retained Current YearShareholders'
Earnings Profit / (Loss)
Equity
26,560,022 163,218 (20,410,244)
-
16,593,001
- (99,369)
99,369
- (1,748,582)
-
(1,748,582)
- 827,068
(827,068)
-
-
-
899,589
9,303,042
899,589
26,560,022 890,917 (22,886,525)
899,589
25,047,050
136,722
-
-
899,589
- (1,423,592)
(899,589)
-
(1,423,592)
-1,081,350 (1,081,350)
-
(2,812,187)
(2,812,187)
26,560,0221,835,545 (24,355,156)
(2,812,187)
20,811,271
451,896
-
-
- (2,812,187)
2,812,187
-
(10,655)
-
10,518,573
10,518,573
26,560,0221,394,304 (26,726,102)
10,518,573
31,329,844
-
-
- (136,722)
-
- (451,896)
-
10,655
-
Sermaye
Binlik paylar
Share capital
In thousands of shares
Adi hisseler
Ordinary shares
Ara.00
7,330,233
7,330,233
Dönem bafl›
Dönem içinde ç›kar›lan
Dönem sonu - tamam› ödenmifl
Ara.99
7,000,000
330,233
7,330,233
Ara.98
7,000,000
7,000,000
Dec.00
Dec.99
Dec.98
7,330,233
-
7,000,000
330,233
7,000,000
-
7,330,233
7,330,233
7,000,000
Her bir hisse bin Türk Liras› nominal de¤ere sahiptir.
On issue at beginning
of the year
Issued during the period
On issue at end of the
year/period – fully paid
16. Hisse bafl›na kar
All shares have a par value of one thousand TL.
Hisse bafl›na kar›n hesaplanmas› 10,518,573 TL olan net
kar/(zarar)’›n (31 Aral›k 1999: 2,812,187 TL, 31 Aral›k 1998: 899,589
TL) dönem içerisinde piyasadaki a¤›rl›kl› ortalama say›s›
7,330,233,000 olan hisseye ba¤lanmas›yla oluflmaktad›r (31 Aral›k
1999: 7,083,237,000; 31 Aral›k 1998: 7,000,000,000). Hisse bafl› kar
hesaplamas› afla¤›daki gibidir.
16. Earnings per share
Adi ortaklara ba¤lanan net kar
Milyon TL
Net dönem kar›/(zarar›)
Ara.00
Ara.99
10,518,573 (2,812,187)
Ara.98
899,589
Basic earnings per share
The calculation of basic earnings per share is based on the net
profit / (loss) attributable to ordinary shares of TL 10,518,573
(December 31, 1999: TL 2,812,187, December 31, 1998: TL
899,589) and a weighted average number of ordinary shares of
7,330,233,000 outstanding during the period (December 31, 1999:
7,083,237,000; December 31, 1998: 7,000,000,000), calculated as
follows:
Net profit attributable to ordinary shareholders
Adi hisselerin a¤›rl›kl›
ortalamala say›lar›
Binlik hisseler
Dönem bafl› ç›kar›lan adi
hisseler
Eylül 1999 da ç›kar›lan
hisselerin etkisi
Adi hisselerin a¤›rl›kl›
ortalama say›s›
In millions of TL
Net profit / (loss) for the year
Ara.00
Ara.99
Ara.98
7,330,233
7,000,000
7,000,000
-
83,237
-
7,330,233
7,083,237
7,000,000
17. Krediler
Bu not fiirket’in kulland›¤› faize dayal› kredilerin sözleflmeyle ba¤l›
olan maddeleri hakk›nda bilgi vermektedir.
Dec.00
Dec.99
10,518,573 (2,812,187)
Dec.98
899,589
Weighted average number
of ordinary shares
In thousands of shares
Issued ordinary shares at
beginning of the year
Effect of shares issued
in September 1999
Weighted average number
of ordinary shares
Dec.00
Dec.99
Dec.98
7,330,233
7,000,000
7,000,000
-
83,237
-
7,330,233
7,083,237
7,000,000
17. Interest-bearing loans and borrowings
Milyon TL
Uzun vadeli borçlar
Teminatl› banka kredileri
Finansal kiralama borçlar›
Ara.00
Ara.99
Ara.98
45,684,270 57,307,903 47,037,864
1,746
3,128
3,400
45,686,016 57,311,031 41,041,264
K›sa vadeli borçlar
Teminatl› banka kredilerinin
k›sa vadeli k›sm›
24,921,148 26,004,751 12,393,138
Teminats›z banka kredilerinin
6,080,046
Finansal kiralama borçlar›n›n
1,187
205,272
692,669
31,002,381 26,210,023 13,085,807
This note provides information about the contractual terms of the
Company’s interest-bearing loans and borrowings.
In millions of TL
Non-current liabilities
Secured bank loans
Finance lease liabilities
Dec.00
Dec.99
Dec.98
45,684,270 57,307,903 47,037,864
1,746
3,128
3,400
45,686,016 57,311,031 41,041,264
Current liabilities
Current portion of secured
bank loans
24,921,148 26,004,751 12,393,138
Current portion of unsecured
bank loans
6,080,046
Current portion of finance
lease liabilities
1,187
205,272
692,669
31,002,381 26,210,023 13,085,807
67
Borç ödeme tablosu ve dönemleri
Milyon TL - 2000
Terms and debt repayment schedule
In millions of TL - 2000
1-2
Y›l
Toplam 1 y›ldan az
2-3
Y›l
3-4
Y›l
4-5
Y›l
Teminatl› banka
kredileri:
Barclays Bank Plc,
USD,
Libor+0.20 46,980,278 14,796,088 8,046,048 8,046,048 8,046,047 8,046,047
Bayerische
Landesbank,
USD,
Libor+0.35 20,520,120 6,750,040 6,750,040 6,750,040
Teminatl› uzun
vadeli krediler 67,230,398 21,546,128 14,796,088 14,796,088 8,046,047 8,046,047
Total
Under 1
Year
1-2
Years
2-3
Years
3-4
Years
Secured bank loans:
Barclays Bank Plc,
USD,
Libor+0.20
46,980,278 14,796,088 8,046,048 8,046,048 8,046,047 8,046,047
Bayerische Landesbank,
USD,
Libor+0.35
20,520,120 6,750,040 6,750,040 6,750,040
Total secured
long-term loans 67,230,398 21,546,128 14,796,088 14,796,088 8,046,047 8,046,047
Total
Under 1
Year
3,375,018
3,375,018
3,375,020
3,375,020
3,375,020
2,700,016
5,010
6,080,046
9,455,064
3,375,020
2,700,016
5,010
6,080,046
9,455,066
Toplam 1 y›ldan az
Teminatl› banka kredileri
HSBC Bank, USD, Libor+3.95
Toplam teminatl› banka kredileri
Teminats›z banka kredileri
ABN Ambro Bank, USD, Libor+2.75
BNP Dresdner Bank, USD, Libor+2.65
Di¤er, TL
Toplam k›sa vadeli teminats›z krediler
Toplam k›sa vadeli krediler
3,375,018
3,375,018
3,375,020
3,375,020
3,375,020
2,700,016
5,010
6,080,046
9,455,064
3,375,020
2,700,016
5,010
6,080,046
9,455,066
4-5
Years
Secured bank loans
HSBC Bank, USD, Libor+3.95
Total secured Bank Loans
Unsecured Bank Loans
ABN Ambro Bank, USD, Libor+2.75
BNP Dresdner Bank, USD, Libor+2.65
Others, TL - various
Total Unsecured short-term Loans
Total Short-term Loans
fiirket, HSBC Bank ve Deutsche Bank’dan alm›fl oldu¤u krediler için
s›ras›yla 5,000,000 ABD Dolar› ve 61,300,000 ABD Dolar› kefalet
vermifltir.
The Company has given surety for the loans obtained from HSBC
Bank and Deutsche Bank amounting USD 5,000,000 and USD
61,300,000 respectively.
Bayerische Landesbank’tan al›nan kredinin garantörü Conoco
Incorporation’d›r. fiirket Conoco Incorporation’a kredi anaparas›
üzerinden y›ll›k %0.5 komisyon ödemektedir.
Conoco Incorporation is the guarantor for the loan obtained from
Bayerische Landesbank. The Company pays 0.5% commission per
annum to Conoco Incorporation on the principal loan amount over
the life of the loan.
Finansal kiralama borçlar›:
Finance lease liabilities
Finansal kiralama borçlar› afla¤›daki gibidir:
Finance lease liabilities are payable as follows:
Milyon TL
Bir y›ldan az
1-5 y›l aras›
Ara.00
Ara.99
Ara.98
In millions of TL
Brüt
Ödemeler
1,211
1,891
Faiz
24
145
Anapara
1,187
1,746
Anapara
205,272
3,128
Anapara
692,669
3,400
3,102
169
2,933
208,400
696,069
Finansal kiralama anlaflmas›n›n maddelerine göre flarta ba¤l› kiralar
ödenmeyecektir.
18. Ticari ve di¤er k›sa vadeli borçlar
Ticari borçlar:
Milyon TL
Ticari borçlar
Di¤er çeflitli borçlar
Borç senetleri reeskontu
Dec.99c
Dec.98
Principal
1,187
Principal
205,272
Principal
692,669
145
1,746
3,128
3,400
169
2,933
208,400
696,069
Interest
24
1,891
3,102
Under the terms of the lease agreements, no contingent rents are
payable.
18. Trade payable and other current liabilities
Ara.00
Ara. 99
Ara.98
17,314,030 21,048,598
891,461
99,049
321,397 14,399,006
- (262,787)
17,413,079 21,369,995 15,027,680
31 Aral›k 1998 itibariyle, 14,057,292 TL tutar›ndaki di¤er çeflitli
borçlar, Tabafl Petrolculuk A.fi.’nin 1996’da Turcas Petrolcülük
A.fi.’nin hisselerini almas› sonucu Türk Petrol Holding A.fi.’ye olan
borçlardan oluflmaktad›r.
68
Less than one year
Between one and
five years
Dec.00
Gross
Payments
1,211
Trade payables
In millions of TL
Dec.00
Dec.99
Dec.98
Trade payables
17,314,030 21,048,598
891,461
Other miscellaneous payables
99,049
321,397 13,399,006
Discount on notes payable
- (262,787)
17,413,079 21,369,995 15,027,680
At December 31, 1998, other miscellaneous payables mainly
consist of TL 14,057,292 due to Türkpetrol Holding A.fi, which
resulted from the purchase of the shares in Turcas Petrolcülük A.fi.
in 1996.
Di¤er k›sa vadeli borçlar ve gider tahakkuklar›
Other current liabilities and accrued expenses
Milyon TL
Ara.00
Borç karfl›l›klar›
829,261
Ödenecek vergi ve yükümlülükler 901,251
Ödenecek KDV
121,376
Kazan›lmam›fl gelirler
30,847
Ortaklara borçlar
2,139,788
Di¤er
225,071
Ara.99
658,471
6,286,603
2,705,309
21,340
32,032
Ara.98
1,173,700
1,087,844
543,336
20,832
40,093
258,096
4,247,594
9,703,755
3,123,901
In millions of TL
Provision for liabilities
Taxes and duties payable
VAT Payable
Unearned income
Payable to shareholders
Others
Dec.00
829,261
901,251
121,376
30,847
2,139,788
225,071
Dec.99
658,471
6,286,603
2,705,309
21,340
32,032
Dec.98
1,173,700
1,087,844
543,336
20,832
40,093
228,,096
4,247,594
9,703,755
3,123,901
Kazan›lmam›fl gelir, Petgaz S›v›laflt›r›lm›fl Petrol Gazlar› Sanayi ve
Ticaret A.fi.’nin fiirket’in Mersin’deki LPG dolum tesislerini kiralamas›
sonucu oluflan kira gelirlerinden oluflmaktad›r.
Unearned income comprised of the rent income obtained from
Petgaz S›v›laflt›r›lm›fl Petrol Gazlar› Sanayi ve Ticaret A.fi. for the
rental of LPG filling establishment of the Company in Mersin.
Ortaklara borçlar›n 2,127,643 TL’lik k›sm›, Conoco Incorporation’dan
al›nan 3,000,000 ABD Dolar’l›k k›sa vadeli kredi, kredinin 17,013
ABD Dolar’l›k birikmifl faizi ve 91,147 TL’lik Conoco Incorporation’a
ödenecek servis borcundan oluflmaktad›r. Ortaklara borçlar›n
12,145 TL’lik geri kalan k›sm› ise ortaklara ödenecek temettü
borcunu oluflturmaktad›r.
TL 2,127,643 portion of payable to shareholders represents shortterm loans obtained from Conoco Incorporation amounting to USD
3,000,000, accrued interest of which loan amounting to USD
17,013, and services payable to Conoco Incorporation amounting to
TL 91,147. The remaining portion of payable to shareholders
amounting to TL 12,145 represents dividends payable to
shareholders
19. Mali enstrümanlar
19. Financial instruments
fiirket’in mali varl›¤› nakit ve nakit benzeri de¤erler, ticari ve di¤er
alacaklardan oluflmaktad›r. fiirketin mali borçlar›n› ticari borçlar,
banka kredileri ve finansal kiralama yükümlülükleri oluflturmaktad›r.
fiirket’in normal faaliyetlerinde kredi, faiz oran› ve kambiyo riski
ortaya ç›kabilir.
Kredi riski
fiirket’in, mali varl›klar›ndan dolay› belli oranda teminata ihtiyac›
vard›r. Yönetimin mevcut bir kredi politikas› vard›r ve kredi riski
devaml› flekilde takip edilmektedir. Belirli bir tutar›n üstündeki
alacaklar için müflterilerin kredi de¤erlendirilmeleri yap›lmaktad›r.
Bilanço tarihi itibariyle önemli bir kredi riski yoktur. fiirket’in
alabilece¤i maksimum kredi riski bilançoda mali enstrümanlar›n
tafl›d›klar› de¤er kadard›r.
Faiz oran› riski
Kredilerin ve finansal kiralama sözleflmelerinin faiz oranlar› ve geri
ödeme flartlar› finansal tablolar›n 17 numaral› notunda belirtilmifltir.
Faiz oranlar›ndaki herhangi bir ters de¤iflim finansal tablolar›
etkileyebilir.
Kambiyo riski
Kambiyo riski, kur oranlar›ndaki de¤iflimlerin bir mali enstrüman›n
de¤erini dalgaland›rmas›d›r. fiirket, kambiyo riski ile, sat›fllarda,
al›fllarda ve Türk Liras› d›fl›ndaki bir para birimiyle yap›lan
borçlanmalarda karfl›lafl›r. Bu riske en çok neden olan para birimleri
ABD Dolar› ve Alman Mark›’d›r. 31 Aral›k 2000 tarihi itibariyle,
fiirket’in net aç›k pozisyonu 79,651,581 TL’dir. fiirket, bu tür kur fark›
dalgalanmalar›n›n etkilerinden korunmak için herhangi bir finansal
türev kullanmamaktad›r.
Sensitivity analizi
fiirket faiz oran› ve kambiyo riski yönetimi için, kazançlardaki k›sa
vadeli dalgalanmalar›n etkisini azaltma amac›ndad›r. Bununla
beraber, uzun vadede kur ve faiz oranlar›ndaki kal›c› de¤ifliklikler
fiirket’in kazançlar› üzerinde bir etkiye sahiptir. 31 Aral›k 2000
itibariyle, Türk Liras›’n›n di¤er yabanc› paralar karfl›s›ndaki yüzde
birlik genel de¤er kayb›, fiirket’in vergi öncesi kar›n› %7.1
düflürecektir.
Gerçek De¤erler
fiirket’in mali enstrümanlar›n›n tafl›d›¤› de¤erler gerçek de¤erlerine
yak›nd›r. Haz›rda bilgi olmad›¤› için, krediler ve borçlar›n gerçek
de¤erleri belirlenememifltir ancak bilanço de¤erlerine yaklafl›k
olduklar› varsay›lmaktad›r.
Financial assets of the Company include cash and cash
equivalents, trade and other receivables. Financial liabilities of the
Company include trade payables, bank borrowings and lease
obligations. Exposure to credit, interest rate and currency risk arises
in the normal course of the Company’s business.
Credit risk
The Company requires a certain amount of collateral in respect of
financial assets. Management has a credit policy in place and the
exposure to credit risk is monitored on an ongoing basis. Credit
evaluations are performed on all customers requiring credit over a
certain amount.
At balance sheet date there were no significant concentrations of
credit risk. The maximum exposure to credit risk is represented by
the carrying amount of each financial asset in the balance sheet.
Interest rate risk
The interest rates and terms of repayment of loans and leases are
disclosed in note 17 to the financial statements. Any adverse
changes in interest rates may affect the financial statements.
Foreign currency risk
Currency risk is the risk that the value of a financial instrument will
fluctuate due to changes in foreign exchange rates. The Company
incurs foreign currency risk on sales, purchases and borrowings
that are denominated in a currency other than Turkish Lira. The
currencies giving rise to this risk are primarily US Dollars and
German Mark. As of December 31, 2000, the net short position of
the Company amounted to TL 79,651,581. The Company did not
use any derivative financial instruments to hedge the effects of the
fluctuations in foreign exchange rates.
Sensitivity analysis
In managing interest rate and currency risks the Company aims to
reduce the impact of short term fluctuations on the Company’s
earnings. Over the longer term, however, permanent changes in
foreign exchange and interest rates would have an impact on the
earnings. As of December 31, 2000, a general decrease of one
percentage point in the value of the TL against other foreign
currencies would decrease the Company’s profit before tax by
7.1%.
Fair values
The carrying amounts of financial instruments approximate their fair
values. Fair values of loans and borrowings could not be
determined because no information is readily available, but are
believed to approximate their carrying amounts.
69
20. Taahhütler
20. Commitments
Tüprafl Petrol Rafineri ‹flleri A.fi. ile yapt›¤› sözleflme gere¤i, fiirket
her Ekim ay›n›n ortas›na kadar taahhüt etti¤i miktarlar› sat›n almak
zorundad›r. Bununla beraber, fiirket’in 30 gün öncesinden taahhüt
etti¤i 3 ayl›k miktarlar› de¤ifltirme hakk› vard›r. Aksi takdirde
oluflabilecek eksi farklar için, fiirket afla¤›da belirtilen cezalar›
ödemek durumundad›r;
According to a purchase agreement made with Tüprafl Petrol
Rafineri ‹flleri A.fi., the Company has to purchase quantities
committed in the mid of each October. However the Company has
a right to revise quarterly committed quantities before 30 days.
Otherwise based on negative difference, the Company should pay
the following amounts as penalties;
Fark
%5 - 10
%15
%25
%25.01 ve üzeri
(Ton/ABD Dolar›)
Beyaz Ürün
7
14
21
30
(Ton/ABD Dolar›)
Siyah Ürün
4
8
12
20
31 Aral›k 2000 itibariyle, fiirket tüm taahhütlerini yerine getirmifltir.
Conoco ile yap›lan anlaflma gere¤i, Conoco, fiirket’e pazarlama,
ürün tedariki, finansman, planlama ve muhasebe konular›nda servis
sa¤layacakt›r. fiirket bu servis karfl›l›¤›nda üçer ayl›k taksitlerle y›ll›k
500,000 ABD Dolar› ücret ödeyecektir. Anlaflma taraflardan
herhangi birinin di¤erine en az 3 ay öncesinden sözleflmeyi y›l
sonunda yenilemek istemedi¤ini bildirmemesi halinde bir sonraki y›l
için yenilecektir.
29 A¤ustos 2000 tarihinde Türkpetrol Vakf›’yla imzalanan ek
sözleflmeye göre 17 A¤ustos 2000’de dolacak olan "Lisans Hakk›",
mevcut hükümlerle 17 Haziran 2012 tarihine kadar uzat›lm›flt›r.
Bundan dolay› Turcas Petrol A.fi. iptal etme hakk›n›
kullanmad›¤›ndan ve Lisans Hakk›’n›n 17 Haziran 2006’dan 17
Haziran 2012’ye 6 y›ll›k süreyle uzat›lmas›ndan ötürü ek sözleflme
tarihinde Türkpetrol Vakf›’na 600,000 ABD Dolar› ödemeyi taahhüt
etmifltir. Ek olarak fiirket 17 Haziran 2006 tarihine kadar sataca¤›
beyaz ürünler için ton bafl›na 0.30 ABD Dolar› lisans ücreti ödemesi
yapmay› taahhüt etmifltir. Bu ödemeler 17 Haziran 2006 ve 17
Haziran 2012 tarihleri aras›nda sat›lacak beyaz ürünler için ton
bafl›na 0.35 ABD Dolar›’na yükseltilecektir.
fiirket 4 istasyon sahibi ile protokol imzalam›fl ve onlara istasyon
imajlar›n› yenilemeleri için kredi vermifltir. ‹stasyon sahiplerine
yap›lan ödemeler ve süreleri afla¤›daki gibidir.
Müflteri Ad›
Baban Petrol
Ürünleri A.fi.
Sözleflme Süresi
Cenko Petrol
Sanayi A.fi.
10 y›l (anlaflma tarihi 21.07.1998) y›ll›k
Alpet Petrol Ürünleri
Sanayi A.fi.
10 y›l (anlaflma tarihi 14.07.1998) ‹lk 4 y›l için;
Di¤er y›llar (y›ll›k);
Turgutlar Petrol A.fi. 10 y›l (anlaflma tarihi 02.12.1999) ‹lk 4 y›l için;
Di¤er y›llar (y›ll›k);
Eren ‹ç ve D›fl
Ticaret Ltd.fiti.
Di¤er y›llar (y›ll›k)
Özuflak Petrol
Limited fiti.
Ar›c› Petrol
Limited fiti.
USD 300,000**
USD 300,000**
USD 200,000***
USD 200,000
USD 600,000**
USD 600,000**
USD 600,000***
USD 550,000
USD 100,000
USD 300,000*
USD 65,000
USD 160,000**
USD 40,000
Hikmet Güre
70
According to the side-agreement signed with Türkpetrol Vakf› on 29
August 2000, the ‘Right of Licence’ , which would expire on 17 June
2000 has been extended with the existing terms until 17 June 2012.
Accordingly, since Turcas Petrol A.fi. did not use its right to cancel
and due to the extension of the Right of Licence for 6 years from 17
June 2006 to 17 June 2012, the Company has committed to pay
USD 600,000 to Türkpetrol Vakf› at the date of the side-agreement.
Additionally, the Company has committed to make license fee
payments amounting to USD 0.30 per ton of white goods sold until
17 June 2006. These particular payments will be raised to USD 0.35
per ton of white goods sold in the period between 17 June 2006
and 17 June 2012.
The Company has signed protocols with four station owners and
gave them loans to renew their stations’ image. The duration and
payment to these station owners are as follows;
Customer Name
Baban Petrol
Ürünleri A.fi.
Contract Period
10 years (signed on 27.07.1998)
Cenko Petrol
Sanayi A.fi.
Alpet Petrol Ürünleri
Sanayi A.fi.
Turgutlar Petrol A.fi. 10 years (signed on 02.12.1999)
Payments
1998
1999
2000
2001
1998
1999
2000
2001
USD 300,000**
USD 300,000**
USD 200,000***
USD 200,000
USD 600,000**
USD 600,000**
USD 600,000***
USD 550,000
per annum
USD 100,000
For the first 4 years; USD 300,000*
Other years (annually); USD 65,000
For the first 4 years; USD 160,000**
Other years (annually); USD 40,000
For the first 3 years; USD 33,000***
Other years (annually) USD 11,000
Özuflak Petrol
Limited fiti.
USD 100,000**
For the first 8 years; TL 20,000***
Other years (annually)USD 42,000
Ar›c› Petrol
Limited fiti.
‹lk 3 y›l için;
USD 30,000***
Di¤er y›llar (y›ll›k) USD 10,000
For the first 5 years; USD 100,000**
Soyluerler
Akaryak›t Ltd. fiti. 13 years (signed on11.04.2000)
Polatlar
Petrol Ltd. fiti.
Mehmet P›narbafl› 15 years (signed on 21.04.2000)
USD 75,000***
USD 15,000
Bimtafl Burdur ‹ht.
Mad. San. Tic. A.fi. 12 years (signed on16.10.2000)
USD 125,000***
USD 25,000
Bahtafl Burdur Akr.
San. Tic. A.fi.
USD 100,000
USD 150,000***
* 31 Aral›k 1998 itibariyle ödenmifltir.
** 31 Aral›k 1999 itibariyle ödenmifltir.
*** 31 Aral›k 2000 itibariyle ödenmifltir.
According to an agreement made with Conoco, Conoco will render
services to the Company mainly in the area of marketing, product
supply, financing, planning and accounting. The Company will pay
a fee of USD 500,000 per annum, payable in quarterly installments.
Agreement is renewed for successive one year periods unless
either party gives no less than three months’ notice to the other
party not to renew it at the end of the year.
TL 20,000***
USD 42,000
‹lk 3 y›l için;
USD 51,000***
Bimtafl Burdur ‹ht.
Mad. San. Tic. A.fi. 12 y›l (anlaflma tarihi 16.10.2000) ‹lk 3 y›l için;
Bahtafl Burdur Akr.
San. Tic. A.fi.
Coflkun Petrol Ltd. fiti. 1 y›l (anlaflma tarihi 14.08.2000)
As of December 31, 2000, the Company has fulfilled its
commitments.
Eren ‹ç ve D›fl
Ticaret Ltd.fiti.
USD 69,000***
Mehmet P›narbafl› 15 y›l (anlaflma tarihi 21.04.2000)
(Tons/USD)
Black Product
4
8
12
20
USD 33,000***
USD 11,000
Polatlar
Petrol Ltd. fiti.
(Tons/USD)
White Product
7
14
21
30
Ödemeler
10 y›l (anlaflma tarihi 27.07.1998) 1998
1999
2000
2001
10 y›l (anlaflma tarihi 01.08.1998) 1998
1999
2000
2001
Soyluerler
Akaryak›t Ltd. fiti. 13 y›l (anlaflma tarihi 11.04.2000)
Difference
5 - 10%
15%
25%
25.01% and over
Coflkun Petrol Ltd. fiti. 1 years (signed on 14.08.2000)
Hikmet Güre
* already paid as of December 31, 1998
** already paid as of December 31, 1999
*** already paid as of December 31, 2000
USD 100,000
For the first 10 years;USD 150,000***
21. fiarta ba¤l› yükümlülükler
21. Contingencies
A.fi. iki adet gemi infla yat›r›m›na iliflkin teflvik belgelerine istinaden,
1999 y›l›nda yap›lmas› öngörülen yat›r›m harcamalar› için 1998 y›l›
kazanc›ndan 6,836,947 TL yat›r›m indiriminde bulunmufltur. 31
Aral›k 1999 tarihi itibariyle gerçekleflen yat›r›m harcamas› ise
5,113,281 TL olup, eksik gerçekleflen k›s›m yat›r›m indiriminin
%25’ine karfl›l›k gelmektedir. Eksik gerçekleflme oran›, indirilen
yat›r›m indirimi tutar›n›n %10’undan fazla oldu¤u için eksik
gerçekleflmeye isabet eden kurumlar vergisi ve fon pay›n›n tecil faizi
ile birlikte (bu k›sma isabet eden gelir vergisi stopajlar› hariç)
ödenmesi gerekmektedir. Eksik gerçekleflmeye isabet eden net
kurumlar vergisi ve fon pay› ile tecil faizlerinin 748,453 TL kadar
olabilece¤i hesaplanm›flt›r. fiirket, eksik gerçekleflmenin gemilerin
inflas›n›n verildi¤i tersanenin deprem nedeniyle içinde bulundu¤u
mücbir sebep halinden kaynakland›¤› gerekçesiyle, 18 Ocak 2000
tarihinde Maliye Bakanl›¤›’na süre uzat›m› talebinde bulunmufltur.
The 1998 tax provision of Turcas Petrolcülük A.fi., taken over by the
Company as of September 30, 1999, was computed benefiting from
the Investment Incentive Certificates amounting TL 6,836,947 in
relation to the purchase of vessels. Total amount of investments
actually incurred as of December 31, 1999 amounted TL 5,113,281,
corresponding to 69% of the investment benefit amount applied for.
Since the under-realisation rate of the investment is above 10% of
the investment, corporation taxes and funds, together with the late
payment charges (excluding income taxes and related funds) have
to be paid for the under-realised amount. Such corporation taxes
and funds including late payment charges are computed to be TL
784,453. On January 18, 2000, the Company has applied to the
Ministry of Finance for the permission of period extension,
explaining that the delay of the investment is caused by the
earthquake damage occurred in the shipyard where the vessels are
built. The case is still outstanding.
17 A¤ustos 1995 tarihinde BP Petrolleri A.fi.’nin Ambarl›’da ki dolum
tesislerinin Turcas Petrolcülük A.fi., Tabafl Petrolcülük A.fi. ve
Selyak Petrol Ürünleri Üretim ve Pazarlama A.fi. taraf›ndan ortaklafla
kullan›lmas› için bu dört flirket aras›nda bir sözleflme yap›lm›flt›r. Bu
sözleflmeye göre, her bir flirket bu tesislerin ve üzerine kurulu olan
arazinin 1/4 oran›nda hissesine sahiptir. Bu nedenle Turcas
Petrolcülük A.fi. ve Tabafl Petrolcülük A.fi., BP Petrolleri A.fi.’ne
toplam 4,612,890 ABD Dolar› avans vermifllerdir. Fakat bu arazinin
sahipli¤i konusunda BP Petrolleri A.fi. ve üçüncü flah›slar (yaklafl›k
600 ortak) aras›nda ç›kan bir ihtilaf dolay›s›yla, Turcas Petrolcülük
A.fi. kendisine ait olan baflka bir arazinin di¤er flirketlerce, bu ihtilaf
çözülemedi¤i taktirde sat›n al›nmas› için BP Petrolleri A.fi. ve Selyak
Petrol Ürünleri Üretim ve Pazarlama A.fi.’nden toplam 1,000,000
ABD Dolar› avans alm›flt›r. Davan›n 2003 y›l› içinde bitmesi
beklenmektedir. Davan›n sonuçland›r›labilmesi için ortaklar
aralar›nda 2003 y›l› A¤ustos ay›na kadar süreyi uzatan ek bir
protokol yapm›fllard›r.
On August 17, 1995 an agreement was made between Turcas
Petrolcülük A.fi., Tabafl Petrolcülük A.fi., Selyak Petrol Ürünleri
Üretim ve Pazarlama A.fi. and BP Petrolleri A.fi. in order to use
Filling Establishment of BP Petrolleri A.fi. in Ambarl› region jointly.
According to this agreement, each company has 1/4 share of all
land and of assets related to this establishment. Accordingly, Tabafl
Petrolcülük A.fi. and Turcas Petrolcülük A.fi. have given an advance
to BP Petrolleri A.fi. amounting to USD 4,612,890. However, due to
a dispute related to the ownership of land where this establishment
was built on, between BP Petrolleri A.fi. and third parties (around
600 partners), Turcas Petrolcülük A.fi. has made an agreement with
other three companies in order to sell its own land in
Büyükçekmece region and obtained USD 1,000,000 from BP
Petrolleri A.fi. and Selyak Petrol Ürünleri Üretim ve Pazarlama A.fi..
The dispute is expected to be finalised in 2001 and to finalise this
dispute shareholders made a side agreement to lengthen the
period until August 2001.
fiirket bir benzin istasyonunun patlamas› sonucu daval›
durumundad›r. fiirket’in olas› yükümlülü¤ü 700,000 TL’dir. fiirket
olmas› muhtemel bu yükümlülü¤ü için finansal tablolar›nda herhangi
bir karfl›l›k ay›rmam›flt›r. fiirket yönetimi davan›n fiirket aleyhine
sonuçlanma olas›l›¤›n›n düflük oldu¤unu ve sözkonusu davan›n
flirketin mali durumuna, nakit ak›fl›na ve operasyonlar›na önemli
ölçüde etki edebilecek bir durum oluflturmad›¤›n› belirtmifltir.
The Company is defendant in a lawsuit involving an explosion in a
station. The estimated risk exposure the Company is TL 700,000.
The Company has not provided any provision in the accompanying
financial statements for this lawsuit. Based on the information
available to the Company and its lawyers, the Company believes
that pending and reasonably anticipated future actions will not have
a material adverse effect on its financial condition, results of
operations or cash flows.
22. ‹lgili taraflar
22. Related parties
‹liflikteki konsolide mali tablolarla ilgili olarak hissedarlar, yöneticiler,
yönetim kurulu üyeleri ve kontrol edilen/ifltirak edilen flirketler, ba¤l›
ortakl›klar ve ifltirakler ilgili taraf olarak tan›mlanm›flt›r. Normal ifl ak›fl›
çerçevesinde ilgili taraflarla birtak›m ifllemler yap›lm›flt›r. Bu ifllemler
normal ifl ak›fl› kurallar› içersinde gerçekleflmifltir.
31 Aral›k 2000, 1999 ve 1998 tarihlerinde ilgili taraflarla yap›lan
ifllemler ve bakiyeleri afla¤›daki gibidir:
Milyon TL
‹lgili taraflardan alacaklar
‹lgili taraflara borçlar
Sat›fllar
Al›mlar
Servis giderleri
Kira geliri
Temettü geliri
Ara.00
5,788
2,164,443
43,994,357
328,415
8,127
319,373
Ara.99
81,005
134,390
3,808,521
57,646
28,546
42,982
-
Ara.98
33,196
144,909
316,547
-
‹lgili taraflardan alacaklar genellikle ticari alacaklar ve ilgili taraflara
ödenecek servis ve temettü borçlar›n› içerir. Al›mlar, Ambarl›
Depolama Hizmetleri Ltd. fiti.’den petrol al›mlar›n› göstermektedir.
For the purpose of accompanying financial statements, the
shareholders, key management personnel and the Board members
and companies controlled by/affiliated with them and; associates
and investments are considered and referred to as the related
parties. A number of transactions are entered into with the related
parties in the normal course of business. These transactions were
carried out on an arms-length basis during the normal course of
business.
At December 31, 2000, 1999 and 1998, related party balances and
transactions are as follows:
In millions of TL
Due from related parties
Due to related parties
Sales
Purchases
Service expenses
Rent income
Dividend income
Dec.00
5,788
2,164,443
43,994,357
328,415
8,127
319,373
Dec.99
81,005
134,390
3,808,521
57,646
28,546
42,982
-
Dec.98
33,196
144,909
316,547
-
Due from related parties mainly includes trade receivable from and,
due to related parties mainly includes service and dividend payable
to related parties. Purchases represent oil purchases from Ambarl›
Depolama Hizmetleri Ltd.fiti.
71
72
23. Müteakip olay
23. Subsequent event
2000 senesi içinde ve 31 Aral›k 2000 tarihini müteakiben, Türkiye’de
önemli ekonomik sorunlar yaflanmaktad›r. Bu sorunlar›n bafll›calar›,
iç borçlanma senetlerinin ve hisse senetlerinin fiyatlar›nda ani düflüfl
yaflanmas›, ve kamu ve özel sektör borçlanmalar›na iliflkin faiz
oranlar›n›n h›zla yükselmesidir. Hükümet, bu sorunlar neticesinde
banka sisteminde yaflanan likidite krizini aflmak amac›yla, 21 fiubat
2001 tarihinde Türk Liras›’n› serbest dalgalanmaya b›rakm›fl, ve bu
karar, ilk gün içinde, Türk Liras›’n›n Amerikan Dolar› karfl›s›nda %28
oran›nda de¤er kaybetmesine yol açm›flt›r. 23 fiubat 2001 tarihi
itibariyle Türk Liras› belli bafll› yabanc› para birimleri karfl›s›nda 31
Aral›k 2000 tarihinde geçerli kurlar ile karfl›laflt›r›ld›¤›nda önemli
ölçülerde de¤er kayb›na u¤ram›flt›r. Söz konusu de¤er kayb›
Amerikan Dolar› karfl›s›nda %37 olmufltur. fiirket’in mali durumu ve
gelecekteki faaliyetleri ve nakit ak›mlar› süregiden bu ekonomik
sorunlardan olumsuz yönde etkilenebilecektir. fiirket yönetimi,
yaflanmakta olan ekonomik sorunlar›n gelecekteki boyutlar›n›,
ciddiyetini ve süresini önceden tahmin edemedi¤i gibi bu sorunlar›n
fiirket’in flu anki mali durumu ve/veya gelecekteki faaliyetleri ve nakit
ak›mlar› üzerinde yapaca¤› etkiyi de belirleyememektedir.
Significant economic difficulties have emerged in Turkey during the
year 2000 and subsequent to 31 December 2000. These include,
but are not limited to a steep decline in prices of domestic debt and
equity securities and increasing rates on government and corporate
borrowings. In an attempt to overcome the liquidity crisis in the
banking system, on 21 February 2001, the government allowed
Turkish Lira to float freely. This caused a 28% devaluation of the
Turkish Lira against the US Dollar during the first day of floatation.
As of 23 February 2001, the Turkish lira has devalued significantly
against major foreign currencies as compared to the related
currency exchange rates ruling as of 31 December 2000. Such
devaluation against the US Dollar has been 37%. The financial
condition of the Company and its future operations and cash flows
could be adversely affected by continued economic difficulty.
Management is unable to predict the extent, severity or duration of
the current economic difficulties nor quantify what impact it may
have on the current financial position or future operations and cash
flows of the Company.
Produced by Finar Corporate Design.
Turcas Petrol A.fi.
Emirhan Cad. No: 145 Dikilitafl Befliktafl 80700 Istanbul
Tel: (0.212) 259 00 00 -17 Fax: (0.212) 259 00 18 - 19

turcas tasar.m*kapak

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