turcas1-48.fh9 (Converted)-1

2006 FAAL‹YET
AL‹YET RAPORU 2006 ANNUAL REPORT
‹Ç‹NDEK‹LER
CONTENTS
Yönetim Kurulu Baflkan›’n›n Mesaj›
Chairman’s Message 16
Yönetim Kurulu
Board of Directors 21
Shell & Turcas Petrol A.fi.
Shell & Turcas Petrol 46
Marmara Petrol ve Rafineri ‹flleri A.fi.
Marmara Petroleum & Refining 50
Socar & Turcas Enerji A.fi.
Socar & Turcas Energy 52
2006 Y›l› ‹tibariyle Türkiye Ekonomisinin
Genel De¤erlendirmesi
General Assessment of Turkish Economy
as of Year 2006 24
Turcas Gaz Toptan Sat›fl A.fi.
Turcas Gas Trading 54
Vizyonumuz, De¤erlerimiz, Misyonumuz
Our Vision, Values & Mission 2
Enerji Piyasas› ve Global Ekonomi
Energy Markets & The Global Economy 28
Turcas Elektrik Üretim A.fi.
Turcas Power Generation 56
Bir Bak›flta Turcas
Turcas at a Glance 4
Sermaye Yap›s›
Capital Structure 32
Turcas Elektrik Toptan Sat›fl A.fi.
Turcas Power Trading 58
Grup Yap›s›
Group Diagram 5
2006 Piyasa De¤eri
2006 Market Capitalisation 32
Turcas EPC
Turcas EPC 60
Kilometre Tafllar›
Milestones 6
Ortakl›k Yap›s›
Ownership Profile 33
Sürdürülebilirlik
Sustainability 62
Finansal Göstergeler
Financial Highlights 10
Faaliyetlerimiz ve Stratejilerimiz
Our Business & Strategies 34
Kurumsal Yönetim ‹lkeleri
Corporate Governance Principles 64
Operasyonel Göstergeler
Operational Highlights 14
‹fltiraklerimiz
Subsidiaries 44
Denetim Raporu
Auditors Report 78
3
V‹ZYONUMUZ
OUR VISION
70 y›ll›k birikimle, enerji arama, üretim ve ticaretine dönük
ulusal ve uluslararas› yat›r›mlara odaklanan, Türkiye ve içinde
bulundu¤u co¤rafyada en dinamik ve en verimli “Tam Entegre
Enerji fiirketi" olmak. Müflterilerimize en kaliteli ürün ve hizmeti,
en yüksek güvenlik, çevre koruma ve etik davran›fl standartlar›nda
sunma taahhüdüne olan ba¤l›l›¤›m›z› her zaman oldu¤u gibi
sürdürmek.
With our 70 years of experience, become the most dynamic
and efficient "Fully Integrated Energy Company" in Turkey and
its surrounding geographic region and to focus on national and
international investments related to the exploration, production,
distribution and trading of energy. Maintain our commitment
to deliver high quality products and services to our customers
through promoting and implementing the safety, ethical and
environmental standards we have set.
DE⁄ERLER‹M‹Z
OUR VALUES
Turcas, kuruluflundan bu yana temel ilkelerinden ödün vermeden
kendini sürekli yenilemifltir. "Farkl› hizmet" anlay›fl›yla biçimlenen
faaliyetleriyle toplumsal alanda hizmet vermeyi hedeflemifl ve
bunu hayata geçirmifltir.
Since its establishment, Turcas has continuously developed and
improved itself without making concession on its core principles.
The Company has always endevoured and succeeded to deliver
services in social fields through its activities shaped by the
"Exceptional Service" approach.
1992 y›l›nda kullanmaya bafllad›¤› performans artt›r›c› "Yeni
Nesil Kat›klar", "Gezici E¤itim Okulu", istasyonlar› denetleyen
"Akaryak›t Kalite Kontrol Filosu", YKB Worldcard iflbirli¤iyle
gerçeklefltirilen "Sad›k Müflteri Program›", "Ça¤dafl ‹stasyon
Marketçili¤i" gibi çeflitli akaryak›t d›fl› aktiviteler, flirket filolar›
için "Akaryak›t Yönetim Sistemi" (AYS) ve son olarak da 2001
y›l›nda bayileriyle birlikte oluflturdu¤u ve sektöre çok fley
kazand›ran "Turcas Bayi Konseyi" bu at›l›mlar aras›nda yerlerini
alm›fllard›r.
Among Turcas’ innovations and activities are performance
increasing "New Generation Additives" which started to be used
in 1992, some non-petroleum activities such as "Mobile Training
School", "Fuel Quality Control Fleet" inspecting the stations,
"Loyal Customer Program" realized in cooperation with the YKB
Worldcard, "Contemporary Station Markets", "Fuel Management
System" (AYS) for company fleets, and finally in 2001, the
"Turcas Dealer Council" formed together with our dealers.
M‹SYONUMUZ
OUR MISSION
Yukar›da benimsemifl oldu¤u de¤erlerden, müflteri odakl›
yaklafl›m›ndan ve hizmet kalitesinden ödün vermeksizin, kat›l›mc›
ifl yapma anlay›fl›n› kesintiye u¤ratmadan, çal›flanlar›n›n e¤itimini
ve geliflimini takip ederek, Türkiye'nin miras›n› ve de¤erlerini
koruyarak, flimdiye kadar oldu¤u gibi ileride de h›zla pekiflen
baflar›s›n›n devaml›l›¤›n› sa¤lamakt›r.
Sustain and solidify our success in the future without making
compromises on our above mentioned core values, customeroriented approach and service quality while maintaining our
entrepreneurial business approach, monitoring the trainings
and improvement of our employees, and protecting the heritage
and values of our country.
4
B‹R BAKIfiTA TURCAS
1931 y›l›nda Türkiye'nin ilk özel akaryak›t da¤›t›m
flirketi olarak kurulan Türkpetrol ve Madeni Ya¤lar
T.A.fi. 1936'da anonim flirket statüsüne geçmifl,
1988'de ise ‹ngiliz Burmah Castrol firmas› ile
ortaklafla Turcas Petrolcülük A.fi.'yi kurmufltur.
1992 y›l›nda halka aç›lan flirketin ço¤unluk hisseleri
1996'da Tabafl Petrolcülük A.fi. taraf›ndan sat›n
al›nm›flt›r. 1999 y›l›nda Tabafl Petrolcülük A.fi. ile
Turcas Petrolcülük A.fi.'nin birleflmesi sonucu flirket
Turcas Petrol A.fi. ad›n› alm›flt›r.
Turcas; 2005 y›l›nda The Shell Company of Turkey
Ltd. ile akaryak›t ve madeni ya¤lar, perakende
ve ticari sat›fl, pazarlama ve da¤›t›m alanlar›nda
yapm›fl oldu¤u Ortak Giriflim fiirketi Sözleflmesi
sonucunda Shell & Turcas Petrol A.fi. (STAfi) ünvanl›
yeni bir flirket kurmufltur. Turcas'›n %30 hissedar›
oldu¤u STAfi; 1 Temmuz 2006 tarihi itibariyle
faaliyetlerine bafllam›flt›r. Turcas, önümüzdeki
dönemlerde akaryak›t da¤›t›m› ve madeni ya¤lar
piyasalar›ndaki tüm faaliyetlerini STAfi ad› alt›nda
sürdürecektir.
75 y›ll›k geçmifli ile Türkiye'de enerjinin serbest
olan yegâne faaliyet kolu petrol sektöründe
deneyimi ve gerçeklefltirdi¤i iflbirlikleriyle
uluslararas› zengin bir kültüre sahip olan Turcas,
bugün enerjinin liberalleflen elektrik ve do¤algaz
gibi tüm alanlar›nda at›l›mlarda bulunan ve
yat›r›mlar planlayan "Tam Entegre Enerji fiirketi"
olma hedefine do¤ru h›zl› ad›mlarla ilerlemektedir.
TURCAS AT A GLANCE
Established in 1931 as the first private petroleum distribution
company in Turkey and became a joint stock corporation in
1936, Türkpetrol ve Madeni Ya¤lar T.A.fi. established Turcas
Petrolcülük A.fi. together with British Burmah Castrol in 1988.
Following the Initial Public Offering of the company in 1992,
the majority of the company shares were acquired by Tabafl
Petrolcülük A.fi. in 1999. Subsequently Tabafl Petrolcülük A.fi.
and Turcas Petrolcülük A.fi. were merged and the company
was renamed Turcas Petrol A.fi.
In 2005, a Joint Venture Agreement was signed with The Shell
Company of Turkey Ltd. for retail and commercial sales,
marketing and distribution of petroleum products and
lubricants, and the new company was named Shell & Turcas
Petrol A.fi. (STAfi). STAfi, owned 30% by Turcas, started
operations as of July 1, 2006 after obtaining the required
licenses from the Energy Market Regulatory Authority. From
now on, Turcas will be a player in the petroleum products
distribution and lubricants markets on behalf of STAfi.
With its 75 years of history and vast experiences and
collaborations in the oil sector - the only fully liberalized field
of energy in Turkey - Turcas has achieved a rich international
culture and is swiftly advancing to become a "Fully Integrated
Energy Company", performing and planning investments
nationally and internationally in all fields of the energy play
such as the newly liberalizing electricity and natural gas
sectors.
TURCAS’IN HEDEF‹
ENERJ‹N‹N KÂRLI
OLAB‹LECEK HER
KOLUNDA VE
TÜRK‹YE’Y‹
KAPSAYAN GEN‹fi
B‹R BÖLGEDE,
ÇEfi‹TLEND‹R‹LM‹fi
PORTFÖYÜ ‹LE
VAROLMAKTIR.
WITH ITS DIVERSIFIED
PORTFOLIO, TURCAS
ENVISIONS TO EXIST
IN ALL PROFITABLE
AREAS OF THE
ENERGY SECTOR,
THROUGHOUT A VAST
GEOGRAPHIC AREA
EMBRACING TURKEY.
TURCAS ELEKTR‹K TOPTAN SATIfi A.fi.
TURCAS POWER TRADING
PO WE
EK
PETROL A.fi.
TR‹K
TURCAS
TURCAS ELEKTR‹K ÜRET‹M A.fi.
TURCAS POWER GENERATION
EL
MARMARA PETROL VE RAF‹NER‹ ‹fiLER‹ A.fi.
MARMARA PETROLEUM & REFINING
P ET R O L OIL
SHELL & TURCAS PETROL A.fi.
SHELL & TURCAS PETROL
R
5
SOCAR & TURCAS ENERJ‹ A.fi.
SOCAR & TURCAS ENERGY
G AZ GAS
TURCAS GAZ TOPTAN SATIfi A.fi.
TURCAS GAS TRADING
TURCAS EPC
TURCAS EPC
6
K‹LOMETRE TAfiLARI
MILESTONES
1931
Türkpetrol kuruldu
Türkpetrol established
1936
Faaliyetlerine Türkpetrol ve Madeni Ya¤lar Türk A.fi.
ismiyle devam etti
The company renamed Türkpetrol ve Madeni Ya¤lar
Türk A.fi.
1954
‹ngiliz Burmah Castrol firmas›yla madeni ya¤lar alan›nda
anlaflma yapt›
Agreements signed with British Burmah Castrol
Company concerning the lubricants business
1958
Türkpetrol ba¤l› ortakl›¤› Marmara Petrol ve Rafineri
‹flleri A.fi. kuruldu
Türkpetrol's subsidiary Marmara Petrol ve Rafineri
‹flleri A.fi. established
7
1962
ATAfi Anadolu Tasfiyehanesi A.fi. rafinerisine %5 oran›nda ortak olundu
Türkpetrol became a partner in the ATAfi Anadolu Tasfiyehanesi A.fi.
Refinery
1967
Türkpetrol Alevgaz markas›yla LPG pazar›na girdi
The company entered the Liquefied Petroleum Gas (LPG) market business
with the Alevgaz brand
1972
Yurt çap›ndaki istasyon say›s› 550'yi geçti
Number of gas stations exceeded 550
1986
Rafinerilere ba¤l› yeni ikmal/stok depolar› ve 35,000 ton kapasiteli madeni
ya¤ harmanlama tesisi hizmete girdi
New supply and storage tanks directly connected to the refineries and
lubricant blending plant with 35,000 mt capacity started their operation
1988
‹ngiliz Burmah Castrol fiirketi'yle birleflen Türkpetrol, Turcas Petrolcülük
A.fi.'yi kurdu
Turcas Petrolcülük A.fi. established as a joint venture between British
Burmah Castrol and Türkpetrol
1996
Conoco Petroleum Inc.'in ana orta¤› oldu¤u Tabafl Petrolcülük A.fi. taraf›ndan
flirket hisselerinin %82'si Türkpetrol Holding ve Burmah Castrol'dan sat›n
al›nd›
Tabafl Petrolcülük A.fi., of which Conoco Petroleum Inc. was a principle
shareholder, acquired 82% of the shares of Turcas from the Türkpetrol
Holding and Burmah Castrol
1999
Tabafl Petrolcülük A.fi. ile Turcas Petrolcülük A.fi.'nin birleflmesi sonucu flirketin
unvan› Turcas Petrol A.fi. olarak de¤ifltirildi
The company title Tabafl changed to Turcas Petrol A.fi. following the
merger of Tabafl Petrolcülük A.fi. and Turcas Petrolcülük A.fi.
2005
Turcas, ortaklar› ile birlikte Atafl Rafinerisi'ni yüksek kapasiteli bir petrol
ürünleri terminaline dönüfltürme karar› ald›
Turcas, together with its partners, decided to transform the Atafl Refinery
into a strategically important Oil Products Terminal with very high storage
capacity
2006
The Shell Company of Turkey Ltd. ile Turcas'›n birleflerek kurdu¤u ortak flirket
Shell & Turcas Petrol A.fi. yaklafl›k 1300 akaryak›t istasyonuyla operasyonlar›na
bafllad›
The joint venture company Shell & Turcas Petrol A.fi. established following
the merger of The Shell Company of Turkey Ltd. and Turcas, started
operations with approximately 1300 gas stations
2007
Ceyhan Rafineri Projesi’ne paralel olarak Socar & Turcas Enerji A.fi. kuruldu
ve yeniden yap›lanmas›n› tamamlayan Turcas, elektrik ve do¤algaz
sektörlerinde de büyümek üzere at›l›mlara bafllad›
Socar & Turcas Enerji A.fi. established correspondingly for the Ceyhan
Refinery Project, and the restructured Turcas started projects to equally
grow in the power and gas sectors
YAfiAM STANDARTLARINIZI GEL‹fiT‹RMEK ‹Ç‹N VARIZ.
WE ARE HERE TO IMPROVE YOUR LIFE STANDARDS.
10
F‹NANSAL GÖSTERGELER
FINANCIAL HIGHLIGHTS
(1,000,000 YTL)
2002
2003
2004
2005
1480.1
1509.1
1723.0
1853.8
Vergi-Öncesi Kar (Zarar) Profit Before Monetary Gain and Tax (Loss)
19.0
43.5
31.7
66.9
270.8
Net Dönem Kar› (Zarar›) Net Profit (Loss)
19.2
34.3
19.4
46.5
257.6
Hisse Bafl› Kazanç Profit Per Share (YTL)
0.73
1.30
0.22
0.49
2.45
Aktifler Toplam Total Assets
278.1
244.8
279.3
286.5
445.6
Duran Varl›klar Toplam› Total Long-Term Assets
179.7
154.1
157.7
153.5
346.6
Özsermaye Toplam› Total Shareholders' Equity
100.6
134.9
173.0
219.5
436.7
K›sa Vadeli Yükümlülükler Toplam› Total Short-Term Liabilities
99.1
78.9
97.6
63.5
6.1
Uzun Vadeli Yükümlülükler Toplam› Total Long-Term Liabilities
78.4
31.1
8.7
3.5
2.8
177.5
110.0
106.3
67.0
8.9
Net Sat›fllar Net Sales
Yükümlülükler Toplam› Total Liabilities
Net Sat›fllar
Net Sales
Milyon YTL
2,500
2,000
1,480.1
1,509.1
1,723.0
Net Dönem Kar› (Zarar›)
Net Profit (Loss)
Milyon YTL
1,853.8
300
1,995.1
200
1,000
150
500
100
50
0
2003
2004
2005
257.6
250
1,500
2002
19.2
34.3
19.4
2002
2003
2004
46.5
0
2006
2005
Turcas'›n 2006 y›l› Net Sat›fllar› 902,237,105 YTL'dir. Ayr›ca bu rakam ile Shell & Turcas'›n
1 Temmuz-31 Aral›k 2006 dönemi sat›fllar›n›n %30'unun toplam› da bilgi için gösterilmektedir.
Net Sales of Turcas in 2006 were YTL 902,237,105.Figure given here for information only is
the aggregate of Turcas Sales and 30% of STAfi's 2H-2006 Net Sales.
Vergi-Öncesi Kar (Zarar)
Profit Before Monetary Gain and Tax (Loss)
Milyon YTL
300
270.8
2.5
200
2
150
1.5
50
19.0
1
66.9
43.5
31.7
2003
2004
Hisse Bafl› Kazanç
Profit Per Share
YTL
3
250
100
2006
1995.1*
2006
2.45
1.30
0.73
0.22
0.5
0.49
0
0
2002
2005
2006
2002
2003
2004
2005
2006
11
Aktifler Toplam›
Total Assets
Milyon YTL
500
120
445.6
300
278.1
279.3
244.8
63.5
60
40
100
20
0
6.1
0
2002
2003
2004
2005
2002
2006
Duran Varl›klar Toplam›
Total Long-Term Assets
Milyon YTL
400
346.6
100
80
300
179.7
154.1
157.7
0
0
2003
2004
2005
Özsermaye Toplam›
Total Shareholders' Equity
Milyon YTL
500
436.7
400
100.6
134.9
173.0
219.5
2005
78.4
31.1
8.7
2002
2006
200
177.5
150
300
2004
Uzun Vadeli Yükümlülükler Toplam›
Total Long-Term Liabilities
Milyon YTL
40
20
2002
2003
60
153.5
100
200
78.9
80
286.5
200
200
99.1
100
400
K›sa Vadeli Yükümlülükler Toplam›
Total Short-Term Liabilities
Milyon YTL
97.6
2003
2004
3.5
2.8
2005
2006
Yükümlülükler Toplam›
Total Liabilities
Milyon YTL
110.0
106.3
100
67.0
50
100
8.9
0
0
2002
2003
2004
2005
2006
2002
2003
2004
2005
2006
2006
12
F‹NANSAL GÖSTERGELER
FINANCIAL HIGHLIGHTS
KONSOL‹DE GEL‹R TABLOSU (YTL) CONSOLIDATED STATEMENT OF INCOME (TRY)
01.01-31.12.05
01.01-31.12.06
1,853,821,465
(1,756,685,706)
3.647.555
902,237,105
(847,128,904)
797,217
100.783.314
(46.049.904)
55,905,418
(30,200,411)
NET ESAS FAAL‹YET KARI / ZARARI OPERATING PROFIT / LOSS
- Di¤er Faaliyetlerden Gelir ve Karlar Other Income and Profits
- Di¤er Faaliyetlerden Gider ve Zararlar (-) Other Expense and Losses (-)
- Finansman Giderleri (-) Finance Expense / Income (net)
54.733.410
16.211.696
(3.661.780)
(421.024)
25,705,007
242,686,023
(8,598,956)
(10,912,961)
FAAL‹YET KARI / ZARARI PROFIT BEFORE MONETARY GAIN AND TAX
- Net Parasal Pozisyon Kar / Zarar› Net Monetary Gain / Loss
66.862.302
-
270,705,035
66.862.302
(20.344.432)
270,705,035
(13,150,320)
46.517.870
257,554,715
0,49
2,45
ESAS FAAL‹YET GEL‹RLER‹ OPERATING INCOME
- Sat›fl Gelirleri (net) Sales Revenue (net)
- Sat›fllar›n Maliyeti (-) Cost of Sales (-)
- Esas Faaliyetlerden Di¤er Gelirler / faiz+temettü+kira (net)
Other Operating income / interest+dividend+rent (net)
BRÜT ESAS FAAL‹YET KARI / ZARARI GROSS PROFIT / LOSS
- Faaliyet Giderleri (-) Operating Expenses (-)
ANA ORTAKLIK DIfiI KAR / ZARAR MINORITY INCOME/LOSS
VERG‹ ÖNCES‹ KAR / ZARAR PROFIT / LOSS BEFORE TAXATION
- Vergiler Taxation
NET DÖNEM KARI / ZARARI NET PROFIT / LOSS FOR THE PERIOD
H‹SSE BAfiINA KAZANÇ EARNINGS PER SHARE
13
KONSOL‹DE B‹LANÇO (YTL) CONSOLIDATED BALANCE SHEET (TRY)
VARLIKLAR ASSETS
Cari / Dönen Varl›klar Current Assets
Haz›r De¤erler Cash and Banks
Ticari Alacaklar (net) Trade Receivables (net)
‹liflkili Taraflardan Alacaklar (net) Due from Related Parties (net)
Di¤er Alacaklar (net) Other Receivables (net)
Stoklar (net) Inventories (net)
Di¤er Cari / Dönen Varl›klar Other Receivables and Current Assets
Cari Olmayan / Duran Varl›klar Long Term Assets
Ticari Alacaklar (net) Trade Receivables (net)
Di¤er Alacaklar (net) Other Receivables (net)
Finansal Varl›klar (net) Financial Assets (net)
Pozitif / Negatif fierefiye (net) Positive/Negative Goodwill
Maddi Varl›klar (net) Tangible Assets (net)
Maddi Olmayan Varl›klar (net) Intangible Assets (net)
Ertelenen Vergi Varl›klar› Deferred Tax Assets
Di¤er Cari Olmayan / Duran Varl›klar Other Long Term Assets
Toplam Varl›klar Total Assets
YÜKÜMLÜLÜKLER LIABILITIES
K›sa Vadeli Yükümlülükler Short Term Liabilities
Finansal Borçlar (net) Short Term Borrowings (net)
Ticari Borçlar (net) Trade Payables (net)
‹liflkili Taraflara Borçlar (net) Due to Related Parties (net)
Al›nan Avanslar Advances Received
Borç Karfl›l›klar› Provisions
Di¤er Yükümlülükler (net) Other Liabilities (net)
Uzun Vadeli Yükümlülükler Long Term Liabilities
Finansal Borçlar (net) Long Term Borrowings (net)
Al›nan Avanslar Advances Received
Borç Karfl›l›klar› Provisions
Di¤er Yükümlülükler (net) Other Liabilities (net)
ÖZSERMAYE SHAREHOLDERS' EQUITY
Sermaye Capital
Sermaye Yedekleri Capital Reserves
Öz Sermaye Enflasyon Düzeltmesi Farklar› Inflation Adjustment of Shareholders' Equity Items
Kar Yedekleri Profit Reserves
Yasal Yedekler Legal Reserves
Ola¤anüstü Yedekler Extraordinary Reserves
Net Dönem Kar› / Zarar› Net Profit for Current Period
Geçmifl Y›llar Kar / Zararlar› Retained Earnings
Toplam Özsermaye ve Yükümlülükler Total Shareholders' Equity and Liabilities
31.12.2005
31.12.2006
133,013,409
19,205,812
84,012,270
448,588
758,309
26,350,209
2,238,221
153,505,818
1,640,333
1,697,673
287,964
80,809,878
50,543,706
2,666,427
3,405,393
12,454,444
286,519,227
98,928,510
91,964,745
3,428,795
689,932
1,782,208
380,753
682,077
346,658,125
889,642
31.12.2005
31.12.2006
63,500,259
25,763,033
22,662,178
796,785
440,781
6,989,354
6,848,128
3,527,035
737,694
1,638,946
1,150,395
6,145,145
219,491,933
105,000,000
66,837,343
66,837,343
1,136,720
690,838
445,882
46,517,870
286,519,227
436,621,648
105,000,000
344,353,212
484,855
810,541
119,875
445,586,635
385,823
1,142,827
2,088,182
2,528,313
2,819,842
1,459,438
237,736
980,000
66,837,343
6,549,811
191,991
257,554,715
487,788
445,586,635
14
OPERASYONEL GÖSTERGELER (SHELL & TURCAS PETROL A.fi.)
OPERATIONAL HIGHLIGHTS (SHELL & TURCAS PETROL)
(m3)
2005
2006
1,105,442
1,010,021
Katk›l› Kurflunsuz Benzin Unleaded Gasoline with Additive
145,269
76,240
95 Oktan Kurflunsuz Benzin 95 Octane Unleaded Gasoline
874,751
892,170
85,422
41,611
2,581,047
2,662,200
2,378,743
2,265,279
202,304
396,921
5,346
4,336
3,691,835
3,676,557
Kalorifer Yak›t› Heating Oil
24,019
15,302
Fuel Oil No.6 Fuel Oil No.6
161,221
80,434
Siyah Ürün Sat›fllar› Toplam› Total Black Products Sales
185,240
95,736
3,877,075
3,772,293
Beyaz Ürün Sat›fllar› White Products Sales
Benzin Sat›fllar› Toplam› Total Gasoline Sales
98 ve Üstü Oktanl› Kurflunsuz Benzin 95 and higher Octane Gasoline
Motorin Sat›fllar› Toplam› Total Diesel Sales
Motorin Diesel
50 ppm Motorin Eurodiesel
Gazya¤› Karosene
Beyaz Ürün Sat›fllar› Toplam› Total White Products Sales
Siyah Ürün Sat›fllar› Black Products Sales
TOPLAM SATIfiLAR TOTAL SALES
Turcas'›n petrol ürünleri sat›fl faaliyetleri 1 Temmuz 2006'dan itibaren %30 oran›nda ifltiraki olan Shell & Turcas Petrol A.fi. (STAfi) bünyesinde
yap›lmakta oldu¤undan, 2005 y›l› ve 2006 1. yar› y›l Operasyonel Göstergelerinde Shell Türkiye ile Turcas Petrol'ün sat›fllar›n›n toplam›, 2006
2. yar› y›l için de STAfi rakamlar› kullan›lm›flt›r.
Since STAfi took over the fuel retail business of Turcas as of July 1, 2006, aggregate of Shell Turkey and Turcas sales are used for 2005 and
1H-2006 Operational Highlights, and STAfi sales are used for 2H-2006.
15
BEYAZ ÜRÜN SATIfiLARI
WHITE PRODUCTS SALES
S‹YAH ÜRÜN SATIfiLARI
BLACK PRODUCTS SALES
Benzin Sat›fllar› Toplam›
Total Gasoline Sales
1,200,000
1,105,442
Kalorifer Yak›t›
Heating Oil
30,000
1,010,021
1,000,000
25,000
800,000
20,000
600,000
15,000
400,000
10,000
200,000
5,000
0
24,019
15,302
0
2005
2006
2005
Motorin Sat›fllar› Toplam›
Total Diesel Sales
3,000,000
Fuel Oil No.6
180,000
160,000
140,000
120,000
100,000
80,000
60,000
40,000
20,000
0
2,662,200
2,581,047
2,500,000
2,000,000
1,500,000
1,000,000
500,000
0
2005
4,000,000
3,500,000
3,000,000
2,500,000
2,000,000
1,500,000
1,000,000
500,000
0
2006
161,221
80,434
2005
2006
Beyaz Ürün Sat›fllar› Toplam›
Total White Products Sales
3,691,835
3,676,557
2006
Siyah Ürün Sat›fllar› Toplam›
Total Black Products Sales
185,240
200,000
150,000
95,736
100,000
50,000
0
2005
2006
2005
TOPLAM SATIfiLAR
TOTAL SALES
5,000,000
4,000,000
3,877,075
3,772,293
2005
2006
3,000,000
2,000,000
1,000,000
0
2006
16
TURCAS, YEN‹ KURUMSAL ‹MAJI,
HEDEFLER‹ VE V‹ZYONU ‹LE,
‹ST‹KRARLI BÜYÜME, KAR ETME,
KAR PAYI DA⁄ITMA VE TÜM
YATIRIMCILARINI MEMNUN
ETME HEDEF‹N‹ KORUMAKTADIR.
TURCAS -WITH ITS VISION AND
NEW IMAGE- MAINTAINS ITS
GOALS TO GROW IN A STABLE
WAY, PROFIT, PAY OUT
DIVIDENDS CONTINUOUSLY,
AND TO SATISFY ITS INVESTORS
BY INCREASING THE COMPANY
VALUE.
17
YÖNET‹M KURULU BAfiKANI’NIN MESAJI
CHAIRMAN’S MESSAGE
2006: GERÇEKLEfiMELER VE GEL‹fiME YILI
2006: YEAR OF REALIZATIONS AND IMPROVEMENTS
Say›n hissedarlar›m›z ve ziyaretçilerimiz,
Dear shareholders and guests,
2005 y›l› Faaliyet Raporu'nda da bahsi geçen faaliyetlerle ilgili tüm hususlar›
ve hatta halka aç›k bir flirket olarak geçen y›l aç›klayamad›¤›m›z birçok
projeyi gerçeklefltirmeleri ile ele alarak güncellemeye çal›flaca¤›m.
I will try to update you with the status and realizations of the projects
mentioned in my message in our 2005 Annual Report as well as some of
the projects which we could not publicly announce at that time.
2006 y›l› içinde gündemimizin en önemli maddesi Turcas'›n The Shell
Company of Turkey Ltd. ile birlikte Shell & Turcas Petrol A.fi. ad›ndaki yeni
akaryak›t da¤›t›m devini kurmas› idi. 1 Temmuz 2006 tarihi itibariyle faaliyete
geçen Shell & Turcas'›n yaklafl›k 1300 akaryak›t bayisi ile geride b›rakt›¤›
dokuz ayl›k mükemmel icraat› göz önüne al›nd›¤›nda, bu birleflmenin ne
kadar do¤ru bir karar oldu¤u teyit edilmifltir.
The most important item of our agenda in 2006 was the establishment of
the new oil distribution giant, namely Shell & Turcas Petrol A.fi., together
with The Shell Company of Turkey Ltd. Considering the great performance
of the first 9-months of Shell & Turcas, which began operations on July 1,
2006 with its nearly 1300 gas stations, the merger has proven to be a
extremly correct decision.
Turcas olarak, 2006 y›l›na iliflkin aç›klam›fl oldu¤umuz mali tablolar
incelendi¤inde 31 Aral›k 2005 tarihinde 286.519.227 YTL olan Varl›klar
Toplam›m›z›n 445.586.635 YTL'ye, 219.491.933 YTL olan Özsermayemiz
436.621.648 YTL'ye ve 46.517.870 YTL olan Net Kar›m›z›n 257.554.715
YTL'ye ulaflt›¤› görülmektedir. Bunlar bir y›ll›k dönemde s›ras›yla %56, %99
ve %459 art›fla tekabül etmektedir.
Reviewing the financial results of Turcas in 2006 in comparison with 2005
year-end figures, our; Total Assets have increased from YTL 286,519,227
to YTL 445,586,635, Shareholders Equity has increased from YTL 219,491,933
to YTL 436,621,648, and Net Profit has increased from YTL 46,517,870 to
YTL 257,554,715. These correspond to an increase of 56%, 99%, and 459%
respectively in one year period.
Bu baflar›l› sonuçlar, daha bir y›l önceden bafllat›lan ciddi geçifl devresi
haz›rl›klar› ve her iki taraf›n ortaya koydu¤u mükemmel uyum, güçlü kadrolar
ve altyap›n›n bir sonucudur. Birleflme sonucunda her iki flirketten de az
say›da personel memnun edici koflullarda flirketten ayr›lm›flt›r.
These successful results are the outcome of serious transition-period
preparations initiated a year ago, the perfect harmony between the two
groups, and our powerful staff and infrastructure. As a result of the merger,
a few of the personnel from both companies -all under satisfactory termsparted from the company.
18
George Spanoudis'in CEO'su oldu¤u Shell & Turcas kendine 2008 y›l›nda
Türkiye akaryak›t pazar›n›n lideri olma hedefini koymufltur. Biz Turcas olarak
arkadafllar›m›z›n bu hedefe ulaflacaklar›na inan›yoruz.
Shell & Turcas, of which George Spanoudis is the CEO, targets to become
the leader of the Turkish fuel retail market in 2008. We, as Turcas, strongly
believe that this objective will be achieved.
Di¤er taraftan BP ve Shell firmalar› ile birlikte hissedar› oldu¤umuz ATAfi
Rafinerisi'nin faaliyetlerinin durdurulmas›n›n ard›ndan terminale dönüflmesiyle
ilgili yap›lan yat›r›m ve çal›flmalar çok k›sa bir süre içinde tamamlanm›fl
olacakt›r. ATAfi Terminali halihaz›rda hissedarlar›na EPDK'dan alm›fl oldu¤u
depoculuk lisans›yla hizmet vermektedir.
On the other hand, the investments and works related to the transformation
of the ATAfi Refinery into a terminal, of which we are a shareholder together
with BP and Shell, will be completed within a very short period of time.
ATAfi Terminal is currently renders service to its shareholders with the
Storage License obtained from EMRA.
Turcas akaryak›t iflindeki bu birleflmeye paralel olarak alm›fl oldu¤u Yönetim
Kurulu karar›yla bundan sonra, enerji piyasalar›n›n elektrik enerjisi üretimi,
da¤›t›m› ve ticareti, do¤algaz ithalat› ve toptan sat›fl›, özellikle yurtd›fl›nda
petrol arama ve üretimi gibi alanlar›nda birçok projeyi de¤erlendirip, uygun
bulduklar›na yat›r›m ve/veya ortakl›k yapmak üzere çal›flmalara bafllam›flt›r.
‹lgili projeler, Turcas Yönetim Kurulu'nun takdirine ba¤l› olarak gerekti¤i
yerlerde yerli veya yabanc› ortaklarla iflbirli¤ine giderek büyümeyi, bölgesel
ve entegre bir enerji flirketi olarak sürdürmeyi hedeflemektedir.
In parallel to this merger in our fuel retail business, with the Board's
Resolution, Turcas has been evaluating numerous projects in the energy
field such as electricity generation, distribution and trading; natural gas
importation and wholesale; and oil exploration and production especially
in foreign countries and has initiated researches to make investments
and/or to become partners for those that are deemed appropriate. Within
this context, Turcas has aimed to sustain its growth as a regional and
integrated energy company by cooperating with local and/or international
partners based on the nature of the related projects and with the discretion
of the Board.
fiu s›ralar bu hususta gerekli bütün ifllemler tamamlanm›fl, Turcas bünyesinde
ba¤l› ortakl›klar olarak Turcas Gaz Toptan Sat›fl A.fi., Turcas Elektrik Üretim
A.fi. ve Turcas Elektrik Toptan Sat›fl A.fi. flirketleri ile Turcas EPC (Mühendislik,
Sat›n Alma ve Taahhüt) bölümü kurularak faaliyete geçmifltir.
Turcas, 2006 y›l› içinde enerji piyasalar›n›n gündemindeki Elektrik Da¤›t›m
fiirketleri'nin iflletme hakk› devri fleklinde yap›lmas› hedeflenen özellefltirme
ihalelerine Avrupa'n›n en büyük enerji flirketlerinden ‹spanyol Iberdrola
S.A. firmas›yla birlikte girmeyi planlad›¤›n› kamuoyuna duyurmufltur. Turcas,
Iberdrola-Turcas Ortak Giriflim Grubu olarak Özellefltirme ‹daresi
Baflkanl›¤›'ndan Anadolu Yakas› Elektrik Da¤›t›m A.fi. ve Sakarya Elektrik
Da¤›t›m A.fi.'nin hisselerinin blok sat›fl yönetimi ile özellefltirmelerine iliflkin
‹hale fiartnameleri'ni alarak orta¤› ile birlikte de¤erlendirmelere bafllam›flt›r.
Yap›lan de¤erlendirme sonucunda Ortak Giriflim Grubumuz ihaleye teklif
vermek için gereken ön yeterlilik kriterini karfl›lam›flt›r. Özellefltirme ‹daresi,
ihalelere son teklif verme gününü 19 Ocak 2007 olarak aç›klam›fl ancak bu
tarih daha sonra tahmini 1 y›l ertelenmifltir. Geliflmeler do¤rultusunda
gerekli aç›klamalar kamu ile paylafl›lacakt›r. Da¤›t›m özellefltirmelerini takip
edecek olan elektrik üretim tesislerinin özellefltirmelerine de ifltirak etmek
Turcas'›n stratejik plan›n›n bir parças› idi fakat bu erteleme, plan›m›zda
üretim projelerimize öncelik verme gere¤ini ortaya ç›karm›flt›r ki Turcas
Elektrik Üretim A.fi. olarak bu hususta çok ciddi çal›flmalar›m›z mevcuttur.
The relevant restructuring operations have recently been completed as the
wholly-owned subsidiaries under Turcas: Turcas Gas Trading, Turcas Power
Generation and Turcas Power Trading as well as the Turcas EPC
(Engineering, Procurement, and Construction) Division.
In 2006, Turcas publicly announced that it will participate in the privatization
tenders for the transfer of the operational rights of the Electricity Distribution
Companies with Iberdrola, S.A. of Spain which is one of the largest energy
companies in Europe. The Iberdrola-Turcas Joint Venture Group has bought
the Tender Book from the Privatization Administration for the Anadolu
Yakas› Elektrik Da¤›t›m A.fi. and Sakarya Elektrik Da¤›t›m A.fi. and has started
evaluations. As a result of the evaluation process, our Joint Venture Group
has successfully been pre-qualified to bid. The Privatization Administration
had previously announced the final date to submit bids as January 19, 2007,
which later was postponed presumably for another year. Public announcements related to the developments in the process will duly be made.
It has been a part of the strategic plan of Turcas to also participate in the
privatization of the electricity generation facilities which will follow
distribution, however, this postponement has prioritized the generation
projects in our business plan on which Turcas Power Generation is heavily
focused.
19
2006 y›l› içinde bafllamay› planlad›¤›m›z do¤algaz ithalat› ve toptan sat›fl›
faaliyetine, BOTAfi'›n kontrat devri ihalelerini ancak sonland›rm›fl olmas›ndan
dolay›, 2007 y›l› May›s ay› içinde bafllamay› öngörüyoruz. Bu faaliyet o
tarihe kadar EPDK'dan Do¤algaz Toptan Sat›fl Lisans›'n› alacak olan Turcas
Gaz Toptan Sat›fl A.fi. vas›tas›yla yap›lacakt›r.
Natural gas import and wholesale activities which we had anticipated to
start in 2006 are now expected to start in May of 2007 since BOTAfi's
Contract Release Tenders are just being finalized. This operation will be
undertaken by Turcas Gas Trading which will obtain a Natural Gas Wholesale
License from EMRA by that date.
Turcas'›n bir di¤er çok önemli at›l›m› da k›sa bir süre önce kamuya
duyurdu¤umuz SOCAR (State Oil Company of Azerbaijan Republic) ile
bafllataca¤›m›z yeni iflbirli¤idir. Kuruluflu 150 y›l öncesine dayanan SOCAR,
Azerbaycan Devleti'nin ham petrol ve do¤al gaz üretimi, iki adet rafineri
ve boru hatt› sistemlerinin iflletilmesi, petrol ve do¤al gaz›n ithalat, ihracat
ve temininden sorumlu flirketidir. Hazar Denizi'nden dünya piyasalar›na
günde bir milyon varil ham petrol tafl›mak üzere tasarlanm›fl olan 1750 km.
uzunlu¤undaki Bakü-Tiflis-Ceyhan (BTC) boru hatt›n›n %25 oran›nda sahibi
olan SOCAR'›n bu boru hatt›ndan ihraç edece¤i ham petrol miktar› kademeli
olarak artarak SOCAR'›n toplam petrol sevkiyat›nda çok önemli bir rol
almas›na imkan sa¤lamaktad›r. 2008'den itibaren Bakü'den Ceyhan'a bir
y›lda akacak 50 milyon ton ham petrolün 40 milyon tonunun SOCAR'a ait
olaca¤› öngörülmektedir.
Another very important achievement Turcas has recently announced is the
new cooperation initiated with SOCAR (State Oil Company of Azerbaijan
Republic). SOCAR, established about 150 years ago, is the state-owned
company of Azerbaijan responsible for the production of crude oil and
natural gas, operation of the two local refineries and the pipeline systems,
and import, export and supply of oil and gas in the country. SOCAR owns
25% of the 1750 km. long Baku-Tbilisi-Ceyhan (BTC) pipeline which is
designed for the transportation of 1 million barrels of crude oil from the
Caspian Sea to the global markets. The gradual increase of SOCAR's crude
oil exports from this pipeline enables SOCAR to take a very significant role
in the overall crude oil transportation. SOCAR is expected to own 40 million
tones out of the 50 million tones of crude oil that will be flowing from Baku
to Ceyhan per annum.
Turcas'›n SOCAR ile kuraca¤› Socar & Turcas Enerji A.fi.'nin ana hedefleri:
Ceyhan bölgesinde bir petrol rafinerisi ve petrokimya tesisi yat›r›m›n›
incelemek ve yukar›da belirtilen do¤algaz›n ithalat ve toptan sat›fl›
faaliyetlerinde bulunmakt›r. Bu iflbirli¤i ayr›ca Turcas'› Hazar Bölgesi'nde
petrol arama ve üretimine iliflkin çok avantajl› bir konuma getirmektedir.
The major objectives of Socar & Turcas Enerji A.fi. which is established as
a joint venture company by Turcas and SOCAR are; to review and evaluate
an oil refinery and petrochemicals complex investment in Ceyhan Region
and to perform natural gas import and wholesale activities. This cooperation
delivers Turcas other benefits such as an advantageous position in exploration
and production projects in the Caspian Region.
Bu raporun yaz›ld›¤› günlerde, bas›ndan takip etti¤iniz gibi T.C. Baflbakanl›k
Özellefltirme ‹daresi Baflkanl›¤›'n›n PETK‹M Petrokimya Holding A.fi.'yi
özellefltirme karar›n› müteakiben, Socar-Turcas ortakl›¤› bu özellefltirmeye
girmek üzere ilgili flartnameyi alarak çal›flmalar›na bafllam›flt›r.
Following the decision of the Privatization Administration to privatize PETK‹M
Petrokimya Holding A.fi., the Socar-Turcas Joint Venture has bought the
related tender book and is proceeding with its preparations.
Turcas olarak yeni yat›r›m ve giriflimlerimizi göz önüne alarak yerli ve
yabanc›, uluslararas› kariyere ve sayg›nl›¤a sahip uzman bireyleri Yönetim
Kurulu'na ve bünyemize almaya devam edece¤imizi daha önce belirtmifltim.
Merkez Bankas› eski Baflkan› Say›n Süreyya Serdengeçti'nin 2006 y›l› içinde
Turcas Yönetim Kurulu Üyesi olarak atanmas› bu konuda at›lan en önemli
ad›mlardan biridir. Bunun yan› s›ra ‹ngiltere'de yaflayan ve dünya enerji
piyasalar›nda bir otorite olarak kabul edilen Say›n Mehdi Varzi de 2006
y›l›ndan itibaren Yönetim Kurulu Dan›flman› olarak flirketimize hizmet
vermektedir.
Taking into consideration our new investments and projects, I have already
stated that, we as Turcas, will continue to incoporate local and foreign
experts with international and respected careers onto our Board and into
our Management. The appointment of the former Central Bank Governor
Mr. Süreyya Serdengeçti as a Member to the Board of Directors of Turcas
in 2006 is one of the most important steps taken with regards to this
subject. Additionally, Mr. Mehdi Varzi, who lives in the U.K. and is considered
to be an authority in global energy markets, has been appointed as Advisor
to our Board as of 2006.
20
Tüm bu geliflmeler ›fl›¤›nda Turcas yeni bir kurumsal imaj gelifltirmifltir. Bu
da kamuoyuna 5 Aral›k 2006 tarihinde yap›lan bas›n toplant›s› ile tan›t›lm›flt›r.
Turcas'›n yeni kimli¤inin, flirketimizin ¬global olarak de¤iflim ve geliflimlere
ne kadar yatk›n oldu¤unun da ayr› bir göstergesi oldu¤una inan›yorum.
Bundan sonra entegre bir enerji flirketi olma hedefindeki Turcas, yeni
kurumsal imaj›, hedefleri ve vizyonu ile, istikrarl› büyüme, devaml› kar
etme, düzenli kar pay› da¤›tma ve flirket de¤erini yükselterek mevcut ve
potansiyel tüm yat›r›mc›lar›n› memnun etme hedefini korumaktad›r.
In light of all of these progressions, Turcas has developed a new corporate
image. This corporate image was introduced to the public through a press
meeting on December 5, 2006. I believe the new identity of Turcas is also
an indication of its skill to keep pace with global changes and developments.
Turcas - with its vision, new image and objective of becoming an integrated
energy company - maintains its goals to grow consistently, profit continuously,
pay out dividends regularly, and to satisfy its current and potential investors
by increasing the company value.
Turcas, 2006 y›l›nda, gerek mali tablolar›ndaki inan›lmaz baflar›s› gerekse
enerji sektöründeki at›l›mlar› ile Dünya Gazetesi ve okurlar› taraf›ndan
Türkiye'de Y›l›n fiirketi seçilmifltir.
Turcas was selected Company of the Year in 2006 by the Dünya Newspaper
and its readers on account of its extraordinary success in financial revenues
as well as its developments in the energy sector.
Bugüne kadar bu baflar›lar›m›zda önemli rolü olan de¤erli bayilerimize,
fedakar çal›flanlar›m›za ve deste¤ini her zaman hissetti¤imiz hissedarlar›m›za
teflekkürlerimi ve sayg›lar›m› arz ederim.
I would like to express my gratitude to our distinguished dealers and everdevoted employees who carry a significant role in our success and to our
shareholders whose support we always feel and appreciate.
Sincerely yours,
Erdal AKSOY
Yönetim Kurulu Baflkan›
Erdal AKSOY
Chairman of the Board
21
YÖNET‹M KURULU
BOARD OF DIRECTORS
4
2
5
1. ERDAL AKSOY, Baflkan Chairman
2. YILMAZ TECMEN, Baflkan Vekili Vice Chairman
3. BÜLENT ÇORAPÇI, Üye Member
4. M.‹LHAN NEB‹O⁄LU, Üye Member
5. BANU AKSOY TARAKÇIO⁄LU, Üye Member
6. S.BATU AKSOY, Üye Member
7. N.SÜREYYA SERDENGEÇT‹, Üye Member
6
1
3
7
KÜÇÜK MUTLULUKLARIN ARKASINDA BÜYÜK YATIRIMLAR VAR.
THERE ARE MAJOR INVESTMENTS BEHIND LITTLE HAPINESSES.
24
2006 YILI ‹T‹BAR‹YLE TÜRK‹YE EKONOM‹S‹N‹N GENEL DE⁄ERLEND‹RMES‹
GENERAL ASSESSMENT OF TURKISH ECONOMY AS OF YEAR 2006
SÜREYYA SERDENGEÇT‹
TURCAS YÖNET‹M KURULU ÜYES‹, TCMB ESK‹ BAfiKANI
BOARD MEMBER OF TURCAS, FORMER GOVERNOR OF TURKISH CENTRAL BANK
2001 y›l›ndaki finansal krizin sonras›nda Türkiye ekonomisinde tarihinin en
önemli yap›sal de¤iflim süreçlerinden biri bafllam›flt›r. Önce, döviz kurlar›
dalgalanmaya b›rak›larak Türk paras›n›n de¤erinin piyasa koflullar› alt›nda
belirlenmesinin esas al›nd›¤› dalgal› kur rejimine geçilmifltir. Hemen
sonras›nda, krizin finansal piyasalardaki etkileri k›sa sürede azalt›larak
finansal piyasalarda göreli istikrar ortam› sa¤lanm›fl ve 2001 y›l› içinde
yap›sal de¤iflimin ortaya konmas›n› sa¤layacak ekonomik zemin büyük
ölçüde oluflturulmufltur.
After financial crisis in 2001, one of the most important processes of
structural change in the history of Turkish Economy commenced. First, the
exchange rate fluctuation was implemented. Thus allowing for the value
of Turkish Lira to be determined under market conditions, giving way to
stability under the floating rate regime. Immediately after this, influences
of the crisis in financial markets was reduced in a short period of time,
relative stabilization was achieved in financial markets and economical
ground that would provide structural change was established to a large
extent in 2001.
Krizin ilk etkilerinin atlat›lmas›yla beraber, temelinde s›k› para, maliye
politikalar› ve yap›sal reformlar olan yeni bir ekonomik programla 30 y›l
süren kronik ve yüksek enflasyon sürecinin sona erdirilerek fiyat istikrar›n›n
sa¤lanmas›, kamu borcunun risk yaratmayacak seviyelere düflürülerek kamu
maliyesinin sürdürülebilir bir çerçeveye oturtulmas› ve ekonominin yüksek
oranlarda sürdürülebilir büyüme sürecine girmesi amaçlanm›flt›r.
After steering out of the primary effects of the economical crisis, with a
new economic program aimed at achieving price stability by putting an
end to the chronic, high and persistent inflation period in effect for 30
years, with tight monetary and financial policies, and structural reforms,
to place the domestic finance into a sustainable frame by means of reducing
the domestic debts to non-risky levels, and determining the economy to
commence into high rated sustainable growth process.
Kararl›l›kla uygulanan makroekonomi politikalar› ve gerçeklefltirilen yap›sal
reformlar neticesinde, son befl y›lda, Türkiye ekonomisinde makroekonomik
istikrar›n sa¤lanmas› ve ekonominin sa¤lam temellere kavuflmas› yönünde
önemli bir mesafe al›nm›flt›r.
As a result of decidedly implemented macroeconomic policies and realized
structural reforms, for the last five years an important distance has been
covered in Turkey's economy in the direction of maintaining macroeconomic
stability and enabling the economy to sit on a sound foundation.
25
F‹YAT GEL‹fiMELER‹
PRICE DEVELOPMENTS
Türkiye ekonomisinin son otuz befl y›ll›k dönemine bak›ld›¤›nda, hem en
önemli sorunu hem de di¤er sorunlar›n›n nedeni olarak nitelendirilebilecek
enflasyonda, yine son befl y›lda önemli bir düflüfl yaflanm›flt›r.
When we look back at the last thirty years of the Turkish economy, inflation
which may be described as the source of both the most important problem
and the cause of all the other problems, during last five years was subject
to a pivotal decrease.
Hükümet ile Türkiye Cumhuriyet Merkez Bankas› (Merkez Bankas›) taraf›ndan
tüketici fiyatlar› (TÜFE) üzerinden ortaklafla belirlenmekte olan enflasyon
hedefleri 2002 - 2005 y›llar› aras›nda dört y›l üst üste tutturulmufl, enflasyon
2001 y›l› sonundaki y›ll›k %68,5 seviyesinden 2005 y›l sonu itibar› ile %7,72
seviyesine düflmüfltür.
Inflation targets, which are determined by the Government and Turkish
Republic Central Bank (Central Bank) through consumer prices (TUFE),
between 2002 - 2005, for four years in succession were achived. Inflation
level decreased from 68,5% in year 2001, to 7,72% by the year 2005.
2006 y›l›nda ise, geride kalan son dört y›l›n aksine enflasyonda yeniden bir
yükselifl yaflanm›flt›r. Tüketici fiyatlar› 2006 y›l›n›n ilk yedi ay›nda yükselifl
e¤ilimi gösterdikten sonra, y›l sonu itibariyle %9,65 oran›nda gerçekleflerek
Hükümet ve Merkez Bankas› taraf›ndan belirlenen yüzde 5 hedefinin önemli
ölçüde üzerinde kalm›flt›r.
In 2006, as opposed to the past 4 years, there was an increase in the
inflation again. Consumer prices showed a tendency to increase in the first
seven months of 2006, and achieved a level of 9,65% at the end of year
which quite exceeded target of 5% estimated by the Government and
Central Bank.
Geçen y›l enflasyonda yaflanan yükseliflin bafll›ca nedenleri; ekonomideki
arz yönlü floklar, d›flsal unsurlar ve bekleyifllerin bozulmas› olarak say›labilir.
Main reasons behind the increase in inflation last year: can be regarded as
the supply oriented shocks in the economy, outside factors and deterioration
of expectations.
BÜYÜME
GROWTH
Türkiye ekonomisi 2001 y›l› sonundan beri kesintisiz olarak büyümektedir.
Bu dönemde Gayr› Safi Milli Has›la'daki (GSMH) birikimli art›fl %41, befl
y›ldaki ortalama y›ll›k büyüme ise yüzde 7,8 olarak gerçekleflmifltir.
Turkish economy has being growing uninterruptedly since end of 2001.
Accumulated increase in Gross National Product (GNP) in this period has
been realized as 41% and average yearly growth has been realized as
7.8%.
Y›ll›k ithalat›m›z 2006 y›l›nda 137,3 milyar ABD dolar›, ihracat›m›z ise 85,3
milyar ABD dolar› olarak gerçekleflmifltir. 2006 y›l› sonunda toplam d›fl
ticaret hacmimiz 222,6 milyar ABD dolar›na ulaflm›flt›r. D›fla aç›kl›¤›n bir
göstergesi olarak kabul edilen toplam d›fl ticaret hacminin Gayri Safi Yurt
Içi Has›la'ya (GSY‹H) oran› son y›llarda h›zla yükselerek %57'ye ulaflm›fl
bulunmaktad›r.
Our yearly import was realized as 137,3 billion US Dollars in 2006 and
export has been 85,3 billion US Dollars. Our total foreign trading volume
has reached to 222,6 billion US Dollars in the end of year 2006. Ratio of
total foreign trading volume to Gross Domestic Product (GDP), an indication
of economic policies open to foreign competiton, has reached to 57% by
increasing rapidly during last years.
DIfi DENGE
FOREIGN BALANCE
Yüksek büyüme oranlar›n›n bir sonucu olarak ülkemizde cari denge son
y›llarda giderek artan oranda aç›k vermektedir.
As a result of high growth rate, the national current account balance shows
a deficit at increasing rate during the last few years.
Cari aç›k miktar›, 2006 y›l› sonu itibar› ile y›ll›k olarak bak›ld›¤›nda bir önceki
y›la göre art›fl göstermesine ra¤men, 2006 y›l› içinde son aylarda yavafllama
göstermifltir. 2006 y›l› sonuna do¤ru gerçekleflen bu göreli ve henüz bir
e¤ilim niteli¤i kazanmam›fl yavafllaman›n arkas›nda Merkez Bankas›'n›n
parasal s›k›laflt›rmas›na ba¤l› olarak yavafllayan yat›r›m ve tüketim talebi
bafll›ca etken olabilir.
Although the current account deficit amount has shown increase on a yearly
basis when compared to previous year, as of the end of 2006 it has shown
a slow down during last months of 2006. Investment and consumption
demand slowing down depending on monetary tightening of Central Bank
may be the main factor behind this relative slowing down which was
realized towards end of 2006 has not yet gained full tendency characteristics.
26
KAMU MAL‹YES‹
PUBLIC FINANCE
2001 y›l›ndan itibaren Türkiye ekonomisinin yap›sal dönüflümünde bir di¤er
anahtar unsur s›k› maliye politikas› olmufl, 2002 y›l›ndan itibaren %6,5 gibi
oldukça yüksek bir faiz d›fl› fazla hedefi belirlenmifl ve bu hedefe y›llar
içinde büyük ölçüde ulafl›lm›flt›r.
Another key factor in structural transformation of the Turkish economy after
2001 has been tight fiscal policy, pretty high primary surplus target such
as 6,5% has been determined and this target has been reached within
years to a large extent.
Uygulanmakta olan s›k› maliye politikas› bir yandan enflasyonun düflüfl
sürecinde önemli bir rol oynarken, di¤er taraftan sürdürülebilirli¤i her zaman
önemli bir gündem maddesi olan kamu borcunun makul seviyelere gelmesini
sa¤lam›flt›r.
While tight fiscal policy implemented has been playing important role in
the decrease process of inflation, public debt for which sustainability has
been always an important item on the agenda, is maintained to reach
reasonable levels.
2006 y›l› da, gerek merkezi yönetim bütçe gerekse faiz d›fl› bütçe hedeflerinin
tutturulmas› aç›s›ndan, tart›fl›lan baz› bütçe uygulamalar› ve fleffafl›k
sorunlar›na ra¤men baflar›l› bir y›l olmufltur. 2006 y›l›nda GSMH'›n % 6
oran›nda artaca¤› varsay›m› ile; 2005 y›l›nda % 9,4 olan faiz harcamalar›n›n
GSMH'a oran› 2006'da % 8,9'a, % -0,4 olan kamu kesimi borçlanma gere¤i
% -3,1'e inmektedir.
In terms of catching the targets of both central management budget and
primary surplus, year 2006 has been a successful year despite of some
discussions on budgetary applications and transparency problems. With the
assumption that GNP will increase by 6% in 2006; the rate of interest
expenditures in 2005 being 9,4% in ratio of GNP, has decreased to 8,9%
in 2006 and public sector borrowing necessity which was -0,4 has decreased
to -3,1%.
F‹NANSAL P‹YASALAR; KUR VE FA‹Z GEL‹fiMELER‹
Finansal piyasalardaki 2006 y›l›ndaki geliflmeler; y›l›n bafl›ndan May›s ay›na
kadar olan istikrar ortam›, sonras›nda May›s - Temmuz döneminde yurtd›fl›
piyasalar›n tetikledi¤i finansal çalkant› ve Temmuz ay›yla birlikte y›l›n sonuna
kadar istikrarl› e¤ilime dönüfl olarak özetlenebilir.
Merkez Bankas›'n›n enflasyonla mücadeledeki kararl›l›¤›n› sergilemek ve
orta vadede enflasyon hedeflerini tutturmak üzere politika faiz oranlar›n›
4,25 puan yükseltmesi ve piyasalarda döviz ve Türk paras›ndaki likiditeyi
düzenlemek amac›yla ald›¤› tedbirler üzerine Türk paras›n›n de¤er kayb›
durmufl, finansal piyasalarda istikrar göreli olarak tekrar sa¤lanm›fl ve
devam›nda Türk paras›n›n yeniden de¤er kazand›¤› görülmüfltür.
Sermaye piyasas› da 2006 y›l›nda dalgal› bir seyir izlemifltir. 2005 y›l›
sonunda 39778 olan ‹MKB 100 endeksi seviyesi, y›l içinde çalkant› nedeni
ile en düflük 31951 seviyesine kadar inmifl, 2006 y›l› sonunda bir önceki
y›l seviyesinin biraz alt›nda, 39117 seviyesinden y›l› tamamlam›flt›r.
Süreyya SERDENGEÇT‹
Turcas Yönetim Kurulu Üyes‹, TCMS Esk‹ Baflkan›
FINANCIAL MARKETS; CURRENCY RATE AND INTEREST DEVELOPMENTS
Developments in financial markets in 2006, can be summarized as: a stable
environment from beginning of year to May, then financial agitations
triggered by foreign markets during the period between May - July, and
starting from July untill the end of year a return to a stable tendency.
Central Bank in order to display its determination to fight against inflation
and to catch medium term inflation targets, increased interest rates to 4,25.
And also took measures to arrange the foreign currency and Turkish Liras
liquidity in the markets thus value loss of the Turkish Lira has stopped,
stability in financial markets has been relatively ensured and as a result
of this Turkish Liras has once again gained value.
Capital market has fluctuated in 2006. IMKB 100 index being 39778 at the
end of 2005 was reduced to the lowest level of 31951 due to this fluctuation
and has completed the year 2006 with the level of 39117 which is below
the level of the previous year.
Süreyya SERDENGEÇT‹
Board Member of Turcas, Former Governor of Turkish Central Bank
27
28
ENERJ‹ P‹YASASI VE GLOBAL EKONOM‹
ENERGY MARKETS & THE GLOBAL ECONOMY
MEHD‹ VARZ‹
TURCAS YÖNET‹M KURULU DANIfiMANI, VARZI ENERGY BAfiKANI
ADVISOR TO THE BOARD OF TURCAS, PRESIDENT OF VARZI ENERGY
Geçmiflteki birkaç y›lda, global ekonomi ani politik floklar d›fl›nda devam
edecek gibi görünen sürdürülebilir bir ekonomik büyümeye tan›k olmufltur.
Bununla birlikte bu büyüme kesinlikle dengelenmemifltir. Çin'in yeni bir
ekonomik güç olarak belirmesi ve ayn› zamanda Hindistan'›n büyüyerek
ortaya ç›kmas› özellikle Avrupa k›tas› baflta olmak üzere birçok endüstrileflmifl
ekonomi üzerinde dengeli büyümeye yard›m eden pozitif faktörler olmufltur.
Maalesef, di¤er bölgelerde, özellikle de Afrika k›tas›n›n büyük bölümünde
ekonomik büyüme zay›f kalm›flt›r. Globalleflmenin avantajlar› k›smen evrensel
olmufltur.
Over the past few years, the global economy has witnessed sustained
economic growth which looks set to continue, barring sudden political
shocks. This growth has, however, by no means been balanced. The
emergence of China as a new economic powerhouse, together with the
growing emergence of India, have been positive factors which have helped
offset sluggish growth in many established industrialized economies,
especially on the European Continent. Unfortunately, economic growth in
some other regions, especially on much of the African continent, remains
weak. The benefits of globalization have partially become universal.
fiüphesiz enerji dünya ekonomisinin geliflmesinde vazgeçilmez bir rol
oynamaktad›r. Global enerji talebi artt›kça, uzun vadeli enerji tedari¤ini
kararl› tutma hususu artan bir önem kazanmaktad›r. Ayr›ca, özellikle
geçmiflteki birkaç y›l içinde, artan say›daki ülke çevresel hususlar› global
enerji gündeminin en üst s›ralar›nda yer almay› zorlamaktad›r.
Energy, of course, plays an absolutely indispensable role in the development
of the world economy. As global energy demand has grown, the issue of
securing stable long-term energy supply has assumed increasing importance.
Moreover, especially over the past few years, a growing number of countries
have been pushing environmental concerns to the top of the global energy
agenda.
Farkl›laflmadaki yayg›n giriflimlere ra¤men, petrol global ana enerji tedarikinin
%40'tan fazlas›n› oluflturmaya devam etmekte, bunu kömür (%28), do¤al
gaz (%23), su ve nükleer enerji (her biri yaklafl›k olara %6) takip etmektedir.
Her fleyden önce petrolle ilgili olarak, 2003 y›l›ndan beri fiyatlarda önemli
bir art›fl olmas›na ra¤men petrol talebi global olarak artmaya devam
etmektedir. Tedarik güvenli¤i artan bir endifle olmufltur, bunun sebebi ise
Orta Do¤u'nun tek bafl›na global petrol rezervinin %62'sine ve global gaz
rezervlerinin %40'›na sahip olmas›d›r. Bu rezervlerin en büyük hacmi ise,
Despite widespread attempts at diversification, oil continues to account for
over 40% of total global primary energy supply, followed by coal (28%),
natural gas (23%) and hydro and nuclear (each roughly 6%) energy. Dealing
with oil first, oil demand continues to grow globally despite the significant
rise in prices since 2003. Security of supply has been a growing worry,
given the fact that the Middle East alone possesses around 62% of proven
global oil reserves and over 40% of proven global gas reserves. The biggest
29
enerji taban›n›n sürekli geliflimine ve ihracatla ilgili herhangi bir düzensizli¤in
engellenmesine iliflkin güvenli¤i sa¤lama ihtiyac›n› destekleyen Basra Körfezi
içinde yada civar›nda bulunmaktad›r.
challenge is that the vast bulk of these reserves are located in and around
the Persian Gulf, underpinning the need to ensure security for continued
development of the energy base and prevention of any disruption to exports.
Tedarik güvenli¤i ayn› zamanda do¤al gaz durumunda da geliflen bir endifle
alan›d›r. Sadece iki ülke, ‹ran ve Rusya, global do¤al gaz rezervlerinin toplam
%50'sini elinde bulundurmaktad›r. Avrupa, özellikle geçmiflteki iki y›lda,
Rusya'n›n gaz ihracat› politikas›n› artan bir kayg›yla izlemektedir. Bu endiflenin
bir sonucu olarak, Avrupa petrol tedarikinde de oldu¤u gibi, tedarik çeflitlili¤ine
iliflkin ihtiyaca ve güvenli tafl›ma yollar›n›n oluflturulmas›na odaklanm›flt›r.
Security of supply is also a growing concern in the case of natural gas. Just
two nations - Russia and Iran - possess around 50% of total proven global
natural gas reserves. Europe in particular has become increasingly concerned
at the politicization of Russian gas export policy over the past two years.
This concern, as in the case of oil supply, has focused growing attention
on the need for supply diversity and the establishment of secure, multiple
transportation routes.
Aç›kça, günümüzde Orta Do¤u bölgesi savafl sonras› tarihindeki en büyük
ekonomik ve politik zorluklar›n baz›lar› ile karfl›laflmaktad›r. Bunlara ve
yukar›daki sorunlar›n hepsine, iflgal edilmifl bölgede devam eden Arap ‹srail krizi, Irak'taki kötüleflen durum, ‹ran nükleer program› ile ilgili uluslararas›
anlaflmazl›klar ve genellikle bölgenin ifllerine kar›flan d›fl güçlerin rolü de
dahildir. Ekonomik aç›dan en büyük sorun ise, h›zla artan nüfusa ifl sa¤lamak
için yeterince h›zl› flekilde bölgesel ekonomileri gelifltirme ihtiyac›d›r.
Maalesef bölgedeki mevcut gerilimler ön plandad›r. As›l konular› çözemeye
yönelik bölgesel yaklafl›m› benimsemek için ana d›fl güçler ve bölge ülkeleri
taraf›ndan ciddi ve sürdürülebilir giriflim üstlenilmedi¤i sürece Orta Do¤u'da
baflka büyük çat›flmalar›n riski ortadan kald›r›lamaz.
Bu noktada, Avrupa k›tas›na enerji tedariki için transit bir yol olarak Türkiye'nin
tarihi ve geliflen stratejik rolü ortaya ç›kmaktad›r. Türkiye sadece co¤rafik
s›n›rdafll›k sebebiyle de¤il, gereksiz yere bölgesel çat›flmalara girmekten
sak›nma kararl›l›¤› nedeniyle de Do¤u ile Bat› aras›nda gerçekten bir köprüdür.
Türkiye'de, hem devlet hem de özel sektör eski Sovyetler Birli¤i'nin güney
eyaletlerine ve Rusya'n›n kendisine yönelik olarak pozitif bir tutum
benimsemektedir. Bu tutum ve özellikle k›taya enerji ithaline iliflkin artan
ihtiyaç belki de baz› Avrupa çevrelerinde yeterli ölçüde takdir edilmemektedir.
Günümüzde, Türkiye Hazar bölgesinden petrol ve gaz ithal etmektedir ve
petrol ile gaz›n Avrupa'ya ihracat› için önemli bir transit yoldur.
Yukar›da bahsedilen hususlar Socar ve Turcas Petrol aras›ndaki uzun vadeli
iflbirlikçi iliflkinin Aral›k 2006'daki duyurusunun özel bir koflula konmas›na
yard›mc› olmaktad›r. Böyle bir ifl ortakl›¤›na karar vererek, iki flirket de bu
Clearly, the Middle East region today is facing some of the greatest political
and economic challenges in its post-war history. These challenges include,
above all, the continued Arab-Israeli crisis over Occupied Territory, the
deteriorating situation in Iraq, international disagreements over Iran's
nuclear program and generally the role of outside powers in the region's
affairs. The economic challenges include, more so than anything else, the
need to develop the regional economies fast enough to provide work for
a rapidly increasing population. Unfortunately, current tensions in the region
are running high and, unless a serious and sustained attempt is undertaken
by the major outside powers and the key countries in the region to adopt
a truly regional approach towards solving the key issues, the risk of another
major conflict in the region cannot be ruled out.
It is here that Turkey's historic and growing strategic role as a transit route
for energy supply to the European Continent comes into true focus. Turkey
is truly a bridge between East and West, not only because of it geographic
contiguity but also because of its determination to avoid becoming
unnecessarily embroiled in regional conflicts.
Within Turkey, both government and the private sector have adopted a
positive stance towards the southern states of the former Soviet Union and
also towards Russia itself. This stance is perhaps not sufficiently appreciated
in some European circles, especially given the growing need for energy
imports into the Continent. Today, Turkey is a growing importer of oil and
gas from the wider Caspian region and an increasingly important transit
route for oil and gas exports to Europe.
30
özel iliflkiye sa¤lam bir ekonomik anlam vermeye dair karfl›l›kl› arzular›n›
ve iki ülke aras›ndaki yak›n ve dostane ba¤lar› yans›tmaktad›r.
Günümüzde, Socar ve Turcas eflit ortakl›k olarak stratejik birleflme yapm›flt›r.
Bu birleflme Socar'›n sadece kendi gaz ve petrol ihracat›na iliflkin Azerbaycan
d›fl›ndaki pazar› gelifltirmesine yard›mc› olmayacak, ayn› zamanda petrol
ve gaz›n üretimi, da¤›t›m› ve ihracat› da dahil olmak üzere Türkiye'nin içinde
ve d›fl›nda genifl bir sahada bu pazarlar› gelifltirmesi için Turcas Petrol'ün
omuzlar›na çok büyük bir sorumluluk yükleyecektir.
Turcas Grubu güvenle gelece¤e bakmaktad›r ve her zaman en son geliflmelere
ve zorluklara ayak uydurmay› ilke edinmifltir. Bununla birlikte, Turcas temiz
bir enerjiyi teflvik etmede aktif bir oyuncu olma ihtiyac›n›n fark›ndad›r.
Gittikçe artan flekilde Turcas, mevcut petrol ve gaz projelerinin en yüksek
çevre standartlar›n› karfl›lamas›n› sa¤larken, hem Türkiye'de hem de Hazar
- Orta Do¤u bölgesinde hidroelektrik ve rüzgar enerjisi projelerini teflvik
edebilecek yollar üzerinde çal›flmaktad›r.
Mehdi VARZ‹
Turcas Petrol Yönetim Kurulu Dan›flman›
The issues mentioned above help place the announcement in December
2006 of a co-operative long-term relationship between Socar and Turcas
Petrol into a special context. In agreeing to such a relationship, the two
companies are truly reflecting the close and friendly ties between their
two countries and their mutual desire to give a concrete economic meaning
to that special relationship.
Today, Socar and Turcas have entered into a strategic alliance as equal
partners. This alliance will not only help Socar to develop markets outside
Azerbaijan for its oil and gas exports, but it will place a tremendous
responsibility on the shoulders of Turcas Petrol to develop those markets
both in and outside Turkey within a wide range of fields, including distribution,
production and export of oil and gas.
The Turcas Group is looking forward to the future with confidence, always
determined to keep abreast of the latest developments and challenges.
Turcas, however, is also keenly aware of the need to become an active
player in promoting clean energy. Increasingly Turcas is considering ways
in which it may become involved in promoting hydro-electric schemes and
wind energy projects in both Turkey and in the wider Caspian-Middle East
region, while at the same time ensuring that its existing oil and gas projects
meet the highest environmental standards.
Mehdi VARZ‹
Advisor to the Board of Turcas Petrol
31
AVRUPA KITASINA
ENERJ‹ TEDAR‹K‹
‹Ç‹N TRANS‹T B‹R
YOL OLARAK
TÜRK‹YE'N‹N
TAR‹H‹ VE GEL‹fiEN
STRATEJ‹K ROLÜ
ORTAYA
ÇIKMAKTADIR.
TURKEY’S HISTORIC
AND GROWING
STRATEGIC ROLE AS
A TRANSIT ROUTE
FOR ENERGY
SUPPLY TO
THE EUROPEAN
CONTINENT COMES
INTO TRUE FOCUS.
32
SERMAYE YAPISI
CAPITAL STRUCTURE
Tutar (YTL)
Sermaye Oran› (%)
fiirketin sermayesi 105,000,000 YTL olup tamam› ödenmifltir.
Capital Amount (YTL)
Capital Ratio (%)
fiirket hisseleri A, B ve C olmak üzere üç gruba ayr›lm›flt›r.
15-A
26,330,083.18
25.08
15-B
112.50
-
15-C
37.50
-
16-A
78,669,766.82
74.92
105,000,000.00
100.00
Tertip-Grup
Order-Group
TOPLAM TOTAL
2006 y›l› sonu itibariyle flirketin % 28.42 oran›ndaki hisseleri
‹stanbul Menkul K›ymetler Borsas› (‹MKB)'nda ifllem görmektedir.
Company's capital is YTL 105,000,000 which is all paid-in.
Company shares are divided in 3 groups, namely; A, B, and C.
% 28.42 of company shares are traded on Istanbul Stock
Exchange (ISE) as at December 31, 2006.
2006 P‹YASA DE⁄ER‹
2006 MARKET CAPITALISATION
(Milyon YTL)
600
550
500
450
400
350
1/
2/
06
2/
2/
06
3/
2/
06
4/
2/
06
5/
2/
06
6/
2/
06
7/
2/
06
8/
2/
06
9/
2/
06
10
/2
/0
6
11
/2
/0
6
12
/2
/0
6
De¤er Kazanc›
Value Increase
46%
33
ORTAKLIK YAPISI
OWNERSHIP PROFILE
Hissedarlar
Shareholders
Sermaye Pay› (YTL)
Capital Amount (YTL)
Sermaye Oran› (%)
Capital Ratio (%)
24,176,996.22
23.03
29,946,967.03
28.52
Di¤er Hissedarlar
Other Shareholders
21,035,036.75
20.03
Halk
Public Trade*
29,841,000.00
28.42
105,000,000.00
100.00
Aksoy Holding A.fi.
Aksoy Petrol Da¤›t›m Yat›r›mlar› A.fi.
TOPLAM TOTAL
* ‹stanbul Menkul K›ymetler Borsas› (‹MKB)’nda TRCAS kodu ile ifllem görmektedir Traded on Istanbul Stock Exchange (ISE) with TRCAS ticker
34
FAAL‹YETLER‹M‹Z VE STRATEJ‹LER‹M‹Z
OUR BUSINESS & STRATEGIES
35
TURCAS OLARAK,
‹fi HAYATINIZIN DA
B‹R PARÇASIYIZ.
AS TURCAS,
WE MAKE PART OF
YOUR BUSINESS
LIFE TOO.
TURCAS'IN HEDEFLER‹; ENERJ‹N‹N KARLI
OLAB‹LECEK HER KOLUNDA VE TÜRK‹YE'Y‹
KAPSAYAN GEN‹fi B‹R BÖLGEDE,
ÇEfi‹TLEND‹R‹LM‹fi PORTFÖYÜ ‹LE VAR OLMAK,
YERL‹ VE YABANCI ORTAKLARLA ‹fiB‹RL‹⁄‹NE
G‹DEREK BÜYÜMEK VE TÜRK‹YE'N‹N L‹DER
ENERJ‹ fi‹RKET‹ OLMAKTIR.
WITHIN A LARGE GEOGRAPHY EMBRACING
TURKEY, TURCAS TARGETS TO BE PRESENT IN
ALL PROFITABLE AREAS OF THE ENERGY SECTOR
WITH ITS DIVERSIFIED NATIONAL AND
INTERNATIONAL PORTFOLIO, TO SUSTAIN
GROWTH BY COOPERATING WITH LOCAL AND
FOREIGN PARTNERS AND TO BECOME THE
LEADING ENERGY COMPANY OF TURKEY.
36
Turcas'›n 75 y›ld›r sahip oldu¤u benzin istasyonu a¤›n› 1 Temmuz 2006
itibariyle Shell Türkiye ile ortaklafla kurdu¤u Shell & Turcas Petrol A.fi. (STAfi)
bünyesine geçirmesinden sonra flirket bir holding yap›s›na geçmifltir.
Turcas turned into a holding company after transferring its gas station
network to the newly established Shell & Turcas Petrol A.fi. operational as
of July 1, 2006.
Turcas, yeni yönetim kurulu kararlar› do¤rultusunda bundan sonra, enerji
piyasalar›n›n elektrik enerjisi üretimi, da¤›t›m› ve ticareti, do¤algaz ithalat›
ve toptan sat›fl›, potansiyel petrol rafinaj iflleri, özellikle yurtd›fl›nda petrol
arama ve üretimi gibi alanlarda uygun buldu¤u projelere yat›r›m ve/veya
ortakl›k yapmak üzere çal›flmalara bafllam›flt›r.
As per its Board Resolutions, Turcas has already started to engage in energy
projects such as generation, distribution and trading of electricity, importation
and wholesale of natural gas, refining of crude oil, exploration and production
of oil and gas.
Turcas bu stratejinin oluflturulmas›na paralel olarak bir yeniden yap›lanma
sürecine girmifltir. fiirketimiz, bundan böyle faaliyetlerini 3 ana kolda
sürdürecektir: Petrol, Do¤algaz ve Elektrik.
Turcas'›n hedefleri: Enerjinin karl› olabilece¤i her kolunda ve Türkiye'yi
de kapsayan genifl bir bölgede, çeflitlendirilmifl portföyüyle var olmak,
yerli ve yabanc› ortaklarla iflbirli¤ine giderek büyümek ve Türkiye'nin
lider enerji flirketi olmakt›r.
Turcas 2006 y›l›n›n birinci yar›s›nda ülke geneline yay›lm›fl 628 Türkpetrol
akaryak›t istasyonu ve 45 s›nai/ticari müflterisi (istasyonsuz bayii) arac›l›¤›yla
otogaz LPG, madeni ya¤ ve akaryak›t ürünlerinin sat›fl ve pazarlama
faaliyetlerini sürdürmüfltür.
In parallel with this strategy, Turcas has been going through a re-structuring
process. From now on, Turcas will continue its business activities in three
major fields: Oil, Natural Gas and Power.
Turcas targets to be present in all profitable areas of the energy sector
with its diversified national and international portfolio, within a large
geography covering Turkey, to sustain growth by cooperating with
local and foreign partners and to become the leading energy company
of Turkey.
In first half of 2006, Turcas focused its activities on the sales and marketing
of petroleum products, autogas-LPG and lubricants at 628 Türkpetrol fuel
stations and 45 industrial/commercial customers across the country.
2006 y›l›n›n ikinci yar›s›n›n ilk gününden itibaren ise bu faaliyetler Enerji
Piyasas› Düzenleme Kurumu'ndan ilgili lisanslar› alan ifltirakimiz Shell &
Turcas Petrol A.fi. taraf›ndan yürütülmeye bafllanm›flt›r. STAfi bünyesine
Turcas'›n 628 Türkpetrol istasyonu ile Shell'in 617 istasyonu kat›ld›¤› için
STAfi faaliyetlerine ilk günden itibaren yaklafl›k 1250 akaryak›t istasyonu
ve 130 civar›ndaki istasyonsuz bayii ile bafllam›flt›r.
As of the first day of second half of 2006, our subsidiary Shell & Turcas
Petrol A.fi. started to undertake these operations after having obtained the
relevant licenses from the Energy Market Regulatory Authority. Since 628
Türkpetrol and 617 Shell stations were transferred into the joint venture,
STAfi started its activities with a network of approximately 1250 fuel
stations and 130 industrial/commercial customers throughout the
nation.
Shell ile Turcas aras›nda yap›lan anlaflma itibariyle tüm Türkpetrol
istasyonlar›n›n Shell'e dönüfltürülmesine karar verilmifltir. 2006 y›l› sonu
itibariyle yurt çap›ndaki 471 Türkpetrol istasyonu Shell'e dönüflmüfl, bu
raporun yaz›m tarihi olan Nisan 2007 itibariyle de 481 Türkpetrol istasyonunun
dönüflümü tamamlanm›flt›r.
It was decided to rebrand all of the Türkpetrol stations as Shell in accordance
with the agreement signed between Shell and Turcas. As of the end of
2006, 471 Türkpetrol stations nationwide were rebranded as Shell and
approximately 500 will have been re-branded as of publishing of this report
in April 2007.
Yeni kurulan STAfi daha önce Shell'e ait olan Derince'deki Madeni Ya¤ Üretim
ve Depolama Tesisleri'nin de sahibi olmufltur. Ayr›ca S›nai ve Ticari Sat›fllar
da STAfi bünyesine dahil edilmifltir. Böylece STAfi Türkiye petrol sektörünün
en önde gelen lider kurulufllar›ndan biri olmufltur.
The newly established STAfi became the owner of the Lubricants Production
and Storage Facilities in Derince formerly owned by Shell Turkey. The
industrial and commercial sales business also became a part of the STAfi
organization hence making STAfi one of the ultimate leading companies of
the Turkish oil industry.
37
SATIfi VE PAZARLAMA FAAL‹YETLER‹
SALES AND MARKETING ACTIVITIES
Turcas Petrol, 2006'n›n ilk alt› ay sonu itibariyle ülke geneline yay›lm›fl 628'i
aflk›n akaryak›t istasyonu ve 45 s›nai/ticari müflterisi arac›l›¤›yla otogaz
LPG, madeni ya¤ ve akaryak›t ürünlerinin sat›fl ve pazarlama faaliyetlerine
devam etmifltir.
Turcas Petrol continued its sales and marketing activities of petroleum
products, autogas-LPG and lubricants at 628 Türkpetrol fuel stations and
with 45 industrial/commercial customers across the country during the first
half of 2006.
-
-
-
-
2006 y›l›n›n ilk yar›s› içinde 8 yeni istasyon hizmete aç›lm›fl, 4 adet yeni
istasyon projesinin yat›r›mlar›na bafllanm›fl ve mevcut istasyonlardan
8'inin sözleflmeleri uzat›lm›flt›r.
2006 y›l› ilk alt› ay›nda daralmaya devam etti¤i gözlenen benzin pazar›nda
toplam sat›fllar 1,618,231 m3 olarak gerçekleflirken, Turcas Petrol
130,651 m3 sat›fl ile %8'lik pazar pay›n› gerçeklefltirmifltir.
Motorin pazar›nda ise sat›fllar %9 artarak 6,565,540 m3 olarak
gerçekleflmifltir. Turcas Petrol 357,820 m3'lük sat›fl› ile pazardan %5'lik
pay alm›flt›r.
2006 y›l› sonu itibariyle daralan benzin pazar›nda toplam sat›fllar 3,376,561
m3 olarak gerçekleflirken, STAfi 1,010,021 m3 sat›fl gerçeklefltirerek %30
pazar pay› ile aç›k ara benzin pazar›nda lider konumuna gelmifltir.
Motorin pazar›nda ise sat›fllar %8 artarak 14,171,899 m3 olarak gerçekleflirken,
STAfi 2,662,200 m3 seviyesinde motorin sat›fllar› ile %20'lik pazar
pay›na ulaflarak pazar liderine yak›n ikinci konuma gelmifltir.
2006 y›l› toplam beyaz ürün pazar› %6 büyüyerek, 17,574,539 m3 seviyesine
ulaflm›flt›r. STAfi sat›fllar› ise 3,676,557 m3 olarak gerçekleflerek %21
pazar pay› ile kuvvetli ikincili¤e ulaflm›flt›r.
2006 y›l› ortas›nda, sektörde en güçlü iki markan›n Cumhuriyet ile yafl›t
bayilerinin bir araya gelmesiyle oluflturulan birleflme neticesinde STAfi,
hedefledi¤i ilkeleri do¤rultusunda akaryak›t istasyonlar›n›n altyap› ve imaj
de¤iflim çal›flmalar›n› bafllatarak, ''Shell'' markas› avantaj›n› yayg›nlaflt›rmay›
hedeflemifltir. Birleflme neticesinde yarat›lan sinerji ve de¤iflimin, flirket
sat›fllar›na önümüzdeki y›llarda çok olumlu olarak yans›yaca¤› beklenmektedir.
-
-
During the first half of 2006, 8 new stations began to operate under
the Türkpetrol brand, investments in 4 new stations were started and
contracts of 8 existing stations were renewed with additional investments.
In a declining gasoline market in first half of 2006 where total sales
amounted to 1,618,231 m3, Turcas had a market share of 8% with sales
amounting to 130,651 m3.
In first 6 months of the year, the diesel fuel market grew by 9% to
6,565,540 m3 as compared to the previous year. Turcas had a market
share of 5% with sales of 357,820 m3.
Despite the decline in 2006 in the gasoline market with total sales of
3,376,561 m3, STAfi realized sales of 1,010,021 m3 corresponding to
30% market share, a significant market leader position.
Sales in the diesel market increased by 8% to 14,171,899 m3, where STAfi
realized sales of 2,662,200 m3 corresponding to 20% market share,
strong second player of the market close to the leader.
Total white products market grew by 6% in 2006 reaching a total volume
of, 17,574,539 m3. STAfi sales totaled to 3,676,557 m3 corresponding
to 21% market share, a strong second position.
STAfi which was established in mid-2006 as a result of combining the fuel
stations of the two strongest brands of the industry that are aged as old
as the Republic. STAfi started the infrastructure and image conversion of
the fuel stations in line with its targeted principles and with the aim of
spreading out the advantages which the “Shell” brand will bring in. It is
expected that the synergies and changes created as result of this merger
will significantly enhance the sales of the company in the following years.
38
AYS (AKARYAKIT YÖNET‹M S‹STEM‹)
AYS (FUEL MANAGEMENT SYSTEM)
Akaryak›t Yönetim Sisteminde kullan›lan yüksek teknoloji ürünü Smart
Card müflterilerimizin ihtiyaçlar›na problemsiz olarak cevap vermektedir.
AYS, using the most advanced smart card technologies in the sector,
enables Turcas Petrol to fully satisfy customer needs.
Turcas Petrol, flirket araçlar›n›n akaryak›t harcamalar›n› kontrol alt›na almay›
sa¤layan Akaryak›t Yönetim Sistemi'ni 9 y›ld›r sektörün öncülerinden biri
olarak tüm ülke çap›nda baflar›yla uygulamaktad›r. Kulland›¤› yüksek teknoloji
ürünü Smart Card ile müflterilerinin ihtiyaçlar›na sorunsuz flekilde cevap
vermektedir.
As one of the pioneers of this sector in Turkey, Turcas Petrol has been
operating the AYS (Fuel Management System) for nine years, and continues
to offer companies superior economy and service for their vehicle fleets.
AYS, using the most advanced smart card technologies in the sector, enables
Turcas Petrol to fully satisfy customer needs.
Geçen sene 180 olan AYS'li istasyon say›s›, 2006 y›l› ilk alt› ay›nda 185'e
yükselmifltir. AYS ile 55 ilde hizmet verilmifltir.
The number of stations equipped with the system was 185 in first half of
2006 and the number of cities where AYS has been available reached 55.
AYS, müflterilerinin binlerce arac›na hizmet sunabilmek için ülke dinamikleri
ve müflteri talepleri do¤rultusunda sisteme kat›lan istasyon say›s›n› art›rm›flt›r.
To meet the growing customer demand, efforts continue to further increase
the number of stations featuring the AYS system.
AKARYAKIT DIfiI FAAL‹YETLER
NON-FUEL RELATED ACTIVITIES
Turcas - Castrol iflbirli¤i, anlaflma süresinin uzat›lmas› ile 2006 y›l› ilk alt›
ay sonuna kadar devam etmifltir. Çeflitli kampanyalar›n düzenlenmesi ve
yeni ürünlerin piyasaya sunulmas›yla birlikte madeni ya¤ sat›fllar› önceki
ilk alt› ayl›k dönemlerdeki seviyelerin üzerine ç›km›flt›r. 2006 y›l› ilk alt›
ay›nda Turcas istasyonlar›nda 1,198 ton madeni ya¤ sat›fl› gerçekleflmifltir.
The well-established Turcas-Castrol lubricants cooperation was extended
again with the relevant agreement to last until the end of first half of 2006.
With the help of successful new product launches and various promotional
campaigns, lubricants sales in first half of 2006 increased in comparison
to that of last year, reaching 1,198 tons.
2006 2. yar›y›l›n bafllang›c› itibariyle bu iflbirli¤i sonland›r›lm›fl olup tüm
STAfi istasyonlar›nda Shell madeni ya¤lar› sat›lmaya bafllanm›flt›r. Shell
Türkiye'nin ilk alt› ayda ve Turcas ifltiraki STAfi'›n ikinci alt› ayda yapt›¤›
toplam madeni ya¤ sat›fllar› 78,221 ton olmufltur. Bu rakam›n 2007 itibariyle
tamam›n›n STAfi taraf›ndan yap›laca¤› varsay›labilir.
This cooperation was ended as of the beginning of second half of 2006
since Shell lubricants started to be sold at all of the STAfi fuel stations.
Total lubricants sold by Shell Turkey in first half of 2006 and STAS in the
second half reached 78,221 tons. It can be assumed that all of this volume
will be made by STAfi as of 2007.
Turcas ile ‹pragaz'›n sürdürdü¤ü baflar›l› iflbirli¤i ile düzenlenen kampanyalar
hedefine ulaflm›fl ve istasyonlardaki otogaz sat›fllar›, geçen y›l›n ayn›
dönemine göre art›fl göstererek 86,070 m3 olarak gerçekleflmifltir.
The successful cooperation with ‹pragaz and new sales campaigns achieved
impressive results in satisfying customers; LPG sales volume increased to
86,070 m3 in first half of 2006 in comparison to that period of last year.
2006 y›l›n›n 2. yar›y›l› itibariyle ‹pragaz ile yap›lan anlaflmalar zamanla
sonland›r›larak Shell Gaz ile gerekli anlaflmalar yap›lmaya bafllanm›flt›r.
2006 y›l›nda ‹pragaz ve Shell Gaz'›n Türkpetrol ve Shell istasyonlar›nda
yapt›¤› otogaz sat›fllar› toplam› 521,680 m3 olarak gerçeklefltirilmifltir.
Bu rakam›n da 2007 itibariyle tamam›n›n STAfi üzerinden gerçekleflece¤i
varsay›labilir.
The agreements with ‹pragaz started to be terminated as of the second
half of the year due to the new agreements signed between STAfi and Shell
Gaz. Total LPG sold by ‹pragaz and Shell Gaz at the Türkpetrol and Shell
stations in 2006 totaled 521,680 m3. It can be assumed that all of this
volume will be made over STAfi stations as of 2007.
Market ürünleri ve servisleri: ‹stasyon servisleri yelpazesini geniflletme
çal›flmalar› 2006 y›l›nda da devam etmifl, yenileme çal›flmalar› birçok istasyon
Shop products and services: Activities concerning the broadening of services
and products provided in forecourt shops as well as their refurbishments
have continued in 2006. The renovation of station forecourt shops to offer
39
40
marketinde baflar›yla tamamlanm›flt›r. Market servisi ve ürün gam›n›n
geniflletilmesiyle birlikte sat›fllar artm›flt›r. STAfi'›n oluflumuyla Shell'e
dönüflümü bafllanan Türkpetrol istasyonlar›nda Shell Shop'lar yerlerini almaya
bafllam›flt›r.
improved facilities and a wider range of products resulted in increased
sales. Shell Shops started to take their place in the Türkpetrol stations,
which have been re-branded as Shell after the establishment of STAfi.
QUALITY CONTROL
KAL‹TE KONTROL
Tüketicilerimizin istasyonlar›m›zdan güvenli flekilde akaryak›t ikmali
yapmalar›n› sa¤layabilmek amac›yla sürekli yollarda olan Gezici Kalite
Denetim Filomuz yurt geneline yay›lm›fl 628 istasyonda öncelikli olarak
marker kontrolü, su testi, ve kalibrasyon ölçümü ile hizmet ve genel görünüm
kontrollerini aral›ks›z yapm›flt›r.
To ensure that consumers can buy gasoline and other fuels from our stations
with absolute confidence and peace of mind, the Türkpetrol Mobile Quality
Control fleet was on the road throughout the year, ensuring that the strictest
standards are maintained at our 628 stations across Turkey. Tests performed
include marker control, water testing and calibration measurement, as well
as checks on service quality and general appearance.
Bunun yan› s›ra akaryak›t kaynakl› oldu¤u düflünülen müflteri flikayetlerine
an›nda ve yerinde müdahale edilerek, al›nan numunelerin öncelikli olarak
Kalite Kontrol araçlar›nda bulunan laboratuarlarda ve sonras›nda da
tesislerimizde kontrol edilmesi sa¤lanm›flt›r.
In addition, fuel-related customer complaints are handled immediately and
on-site, with samples first tested in our Mobile Quality Control Unit laboratories
and subsequently re-checked at our main facilities to ensure absolute quality
and purity.
EMN‹YET, SA⁄LIK VE ÇEVRE
SAFETY, HEALTH AND ENVIRONMENT
Turcas Petrol tüm kazalar›n önlenebilir oldu¤una inanmakta ve çal›flanlar›n›
bu bilinçle e¤itmektedir. ‹fl Sa¤l›¤› ve Güvenli¤i Mevzuat›’n› takip etmekte
ve bu mevzuata uyum sa¤lamak amac›yla gerekli çal›flmalar› tüm
terminallerinde ve istasyonlar›nda uygulamaktad›r. fiirket çal›flanlar›na da,
emniyetli sürüflten terminal uygulamalar›na kadar uzanan çok çeflitli e¤itimler
verilmektedir. Turcas, yine gerek terminallerinde gerekse istasyonlar›nda
en yüksek emniyet standartlar›n› uygulamakta, çevreyi koruma konusunda
azami hassasiyeti göstermektedir.
Turcas believes that all accidents are preventable and therefore trains
employees in safety awareness and tracks the new legislation on Work
Safety and Health. Turcas implements all the necessary applications in
accordance with this legislation both at its terminals and fuel stations.
The Company makes available to employees a wide variety of educational
programs, from defensive driving to all aspects of safety in terminal
operations. The highest standards of security are implemented at both
terminals and at stations and the maximum sensitivity is shown to the
protection of environment.
‹KMAL
Turcas, 2006 y›l› ilk alt› ay›nda yurtiçi piyasaya 500,000 m3 seviyesinde
petrol ürünleri ikmali gerçeklefltirmifltir. Bu miktar›n % 85'i Tüprafl
rafinerilerinden, geri kalan % 15'i ise ithalat ve di¤er yurtiçi ikmal
kaynaklar›ndan temin edilmifltir.
2. yar›y›ldan itibaren faaliyete geçen STAfi da ürün ikmallerini yaklafl›k bu
oranlarda gerçeklefltirmifltir.
SUPPLY
Turcas supplied about 500,000 m3 of petroleum products to the domestic
market in first half of 2006. Approximately 85% of this was supplied by
Tüprafl Refineries, and the remaining 15% was sourced from imports and
other major suppliers.
STAfi, which was operational as of second half of 2006 kept similar
percentages while supplying products through Tüprafl and imports.
OPERASYONLAR VE YATIRIMLAR
OPERATIONAL INVESTMENTS
Terminallerde emniyet, güvenlik, bak›m ve yeni ürünler için gerekli temel
yat›r›mlar gerçeklefltirilmifltir.
Basic investmets required for security, safety, maintenance and new products
were made during the year.
41
Turcas'›n %100 oran›nda hisselerine sahip oldu¤u ba¤l› ortakl›¤› Marmara
Petrol ve Rafineri ‹flleri A.fi., ATAfi Anadolu Tasfiyehanesi A.fi.'nin %5 oran›nda
hissedar›d›r.
ATAfi hissedarlar›n›n (BP, Shell ve Marmara) flirketin rafineri faaliyetlerinin
sonland›r›l›p büyük bir Akdeniz Petrol Ürünleri Terminali'ne dönüfltürülmesi
karar›na paralel olarak, Marmara Petrol toplam 50,341,600 USD'lik yeni
kapasite ve tevsii yat›r›m›n›n 2,517,080 USD'lik k›sm›n› 2006 y›l› içinde
gerçeklefltirmifltir.
‹NSAN KAYNAKLARI
30.06.2006 tarihine kadar 169 olan Turcas'›n personel say›s› (37 kad›n, 132
erkek), çal›flanlar›m›z›n ço¤unun ifltirakimiz Shell & Turcas Petrol A.fi.'ye
transfer edilmesinden dolay› 31.12.2006 itibariyle 20 civar›na inmifltir.
STAfi'da çal›flan toplam personel miktar› ise yaklafl›k 550'dir.
MAAfiLAR VE TOPLU ‹fi SÖZLEfiMELER‹
Turcas Petrol herhangi bir Toplu ‹fl Sözleflmesi'ne taraf de¤ildir. 2006 y›l› ilk
alt› ay› içinde, var olan ekonomik koflullar ve rakiplerin uygulamalar›
do¤rultusunda ücretlere genel zam yap›lm›flt›r.
Marmara Petrol ve Rafineri ‹flleri A.fi., a wholly-owned subsidiary of Turcas,
owns 5% shares of ATAfi Anadolu Tasfiyehanesi A.fi.
In parallel with ATAfi shareholders' (BP, Shell and Marmara) decision to
convert the ATAfi Refinery into a major Mediterranean Oil Products Terminal,
Marmara Petrol made new capacity and expansion investments of USD
2,517,080 contributing to the total investment amount of USD 50,341,600.
HUMAN RESOURCES
Number of Turcas staff which was 169 (37 women, 132 men) by June 30,
2006 reduced down to approximately 20 by December 31, 2006 as result
of transferring majority of the personnel to our subsidiary STAfi. Total number
of staff at STAfi is around 550.
SALARIES AND COLLECTIVE BARGAINING AGREEMENTS
Turcas Petrol is not party to any Collective Bargaining Agreement. During
the first half of 2006, the Company made general salary increase in line
with the prevailing economic conditions and competitive practices.
SEVERANCE PAY LIABILITIES
KIDEM TAZM‹NATI YÜKÜMLÜLÜ⁄Ü
As of the end of first half of 2006, the Company's severance pay liabilities
to its employees as required by regulations totaled YTL 2,595,146.
2006 y›l› ilk alt› ay› itibariyle, fiirket'in yönetmelik gere¤i k›dem tazminat›
yükümlülü¤ü toplam 2.595.146.- YTL olarak gerçekleflmifltir.
EMPLOYEE RELATIONS PHILOSOPHY AND BENEFITS
PERSONEL ‹L‹fiK‹LER‹, FELSEFES‹ VE YAN ÖDENEKLER
Turcas Petrol'ün politikas›, personeline ve ifl baflvurusunda bulunan adaylara,
›rk, renk, inanç, etnik veya ulusal köken, cinsiyet, medeni hal, yafl veya
engellilik ayr›m› gözetmeden davranmakt›r.
fiirket, tüm çal›flanlar›na, yeteneklerine ve potansiyellerine dayal› olarak
ilerlemeleri konusunda f›rsat eflitli¤i sa¤lar. Turcas Petrol'ün insan kaynaklar›
politikas›, organizasyonun bütün kademelerinde teflvik edici ve ödüllendirici
bir ortam yaratmakt›r. Hedeflere dayal› yönetim ve personel de¤erlendirmesi,
performans iyilefltirme, motivasyon, iletiflim, geliflim ve e¤itim ihtiyaçlar›n›
belirlemek ve her çal›flan›n kendi performans›na göre ödüllendirilmesini
sa¤lamak için düzenli olarak kullan›lmaktad›r.
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
providing equal opportunities for all employees, so they may progress
within the Company according to their performance, ability and potential.
Turcas Petrol's human resources management aims 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, blue collar 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.
42
Yasal olarak ödenen ücretlere ek olarak fiirket, 2006 y›l› ilk yar›s›nda,
afla¤›daki ücret d›fl› yararlar› sa¤lam›flt›r:
-
Ücretli izin
Y›lda dört ikramiye
K›dem primleri
Y›ll›k tatil harc›rah›
Sa¤l›k sigortas›
Do¤um, ölüm ve evlilik yard›m›
Yemek ve ulafl›m
-
Paid vacations
Four bonuses annually
Seniority bonuses
Annual vacation allowance
Health insurance
Financial support in the event of birth, death and marriage
Work-related meals and transportation
TRAINING
E⁄‹T‹M
Training activities in first half of 2006 were pursued in line with our vision
of "providing premium petroleum products in a safe and clean environment
with excellent service quality". In accordance with this approach, training
programs were designed, updated according to the recent developments
in the sector, and regularly provided for station staffs, which is the "front
face" of Turcas services.
2006 y›l› ilk alt› ay›nda düzenlenen e¤itimler "üstün nitelikli akaryak›t,
emniyetli ve temiz tesislerde, mükemmel hizmet" anlay›fl›yla sürdürülmüfltür.
Bu anlay›fl›n temel yap› tafllar›n› oluflturan istasyon çal›flanlar› için haz›rlanan
e¤itim programlar›n›n içerikleri, günün geliflen flartlar›na göre yenilenmifl,
programlar periyodik olarak yürütülmüfltür.
Service Station Staff were provided with “Turcas Service Standards, Risks
Concerning Static Electricity, Product Characteristics and Station Safety
training programs. Truck drivers were trained in “Safe Loading and Delivery
and Product Characteristics”. Staff of nationwide commercial customers is
provided with seminars concerning “Product Characteristics”.
Bunlara ek olarak, mavi yakal› çal›flanlar yakacak yard›m›, giyecek yard›m›
ve dini bayram ödemeleri alm›fllard›r. Bütün bu yard›mlar, rakip uygulamalara
paralel olarak, düzenli flekilde gözden geçirilmifltir.
‹stasyon personeli e¤itimleri için istasyonlarda "Turcas Petrol Hizmet
Standartlar› Statik Elektri¤in ‹stasyonlarda Oluflturdu¤u Riskler, Ürün Bilgisi
ve ‹stasyon Emniyeti" konular›nda e¤itim verilmifltir. Tanker floförlerine;
"Emniyetli Sevk›yat ve Ürün Bilgisi" konular›nda e¤itim verilmifltir. Ticari
grup müflterilerinin konu ile ilgili çal›flan personeline "Ürün Bilgisi" seminerleri
verilmeye devam edilmifltir.
43
HAREKET KAB‹L‹YET‹N‹Z‹ SA⁄LAMAK ÖNCEL‹KLER‹M‹ZDEN B‹R‹D‹R.
ENSURING YOUR MOBILITY IS ONE OF OUR PRIORITIES.
44
‹fiT‹RAKLER
SUBSIDIARIES
Shell & Turcas Petrol A.fi.
Shell & Turcas Petrol
PETROL OIL
Marmara Petrol ve Rafineri ‹flleri A.fi.
Marmara Petroleum & Refining
Socar & Turcas Enerji A.fi.
Socar & Turcas Energy
GAZ GAS
Turcas Gaz Toptan Sat›fl A.fi.
Turcas Gas Trading
Turcas Elektrik Üretim A.fi.
Turcas Power Generation
ELEKTR‹K POWER
Turcas Elektrik Toptan Sat›fl A.fi.
Turcas Power Trading
Turcas EPC (Mühendislik-Sat›n Alma-‹nflaat)
Turcas EPC (Engineering-Procurement-Construction)
45
Turcas olarak, size daha iyi yaflam flartlar› sunabilmek için çal›fl›yoruz. Çevreye
duyarl› üretim süreçlerine inan›yor, sizlere sadece enerji de¤il, temiz enerji
sa¤lamay› hedefliyoruz. Uluslararas› ifl ortakl›klar›yla gelifliyor ve sadece
bugünü de¤il gelece¤i de sa¤lam temeller üzerine kuruyoruz.
Bu bilinçle, elektrik, do¤algaz ve petrolün size ulafl›ncaya kadar geçirdi¤i
bütün yolculuklar güvencemiz alt›nda. Turcas art›k tam entegre bir enerji
flirketi olarak insan›n oldu¤u her yerde...
As Turcas, we work to create you a better life standard. We believe in the
environment, we aim to ensure you in providing energy, but clean energy
through eco-friendly production processes. We grow with international
partnerships as we build not only today but also tomorrow on a strong
foundation.
All the paths delivering oil, gas and power to you, are under our warranty.
Conscious of its vision to become a fully integrated energy company, Turcas
now reaches every part of human life...
46
www.shellandturcas.com
SHELL & TURCAS PETROL A.fi.
SHELL & TURCAS PETROL
ConocoPhillips'in Turcas'ta sahip oldu¤u hisselerin Aksoy Petrol Da¤›t›m
Yat›r›mlar› A.fi. taraf›ndan sat›n al›nmas›ndan sonra Turcas ve Shell, 26 May›s
2005'te ilgili Ortak Giriflim görüflmelerine bafllam›flt›r. 27 Eylül 2005 tarihinde
imzalanan Ortak Giriflim Sözleflmesi’nden sonra iki flirket ‹fl Katk› Anlaflmas›
konusunda müzakerelere h›z vermifltir. Bu yeni anlaflma, Ortak Giriflime
aktar›lacak olan bütün aktifleri kapsamaktad›r. Tüm yasal onaylar 12 Haziran
2006'da al›nm›fl, Shell & Turcas Petrol A.fi. (”STAfi”) 1 Temmuz 2006
tarihinde faaliyete geçmifltir.
Turcas'›n hâlihaz›rdaki en büyük ifltiraki %30 oran›nda hissedar› oldu¤u
STAfi'dir. STAfi, Shell markas› ile faaliyet gösteren yaklafl›k 1300 akaryak›t
bayii, madeni ya¤ tesisleri, perakende ve ticari sat›fllar› ile Türkiye petrol
sektörünün lider kurulufllar›ndan biridir.
Following the purchase of ConocoPhillips’ shares in Turcas by Aksoy Petrol
Da¤›t›m Yat›r›mlar› A.fi., Turcas & Shell announced the initiation of Joint
Venture negotiations on May 26, 2005. As of this date, negotiation teams
of both parties initiated discussions regarding the Joint Venture Agreement
(JVA). Following the signing of the JVA on September 27, 2005, Shell and
Turcas started negotiations on the Business Contribution Agreement (BCA).
This agreement covers all assets transferred into the Joint Venture. All
regulatory approvals were obtained by June 12, 2006, and the shareholders
of both Turcas Petrol and Shell Turkey approved agreements on June 29,
2006. Consequently, Shell & Turcas Petrol A.fi. ("STAfi") started operations
on July 1, 2006.
The largest subsidiary of Turcas today is STAfi, of which 30% of the shares
belong to Turcas. STAfi is one of the leading companies in the Turkish
petroleum market with nearly 1300 Shell gas stations, lubricant manufacturing
facilities, retail and commercial sales.
Ödenmifl Sermayesi Paid-in Capital
528,067,660 YTL
Hissedarlık Yapısı Ownership Profile %70 Shell Turkey
%30 Turcas Petrol A.fi.
2006 yılı Satıflları 2006 Revenues*
9 Milyar YTL / USD 6.3 Billion
Çalıflan Sayısı Employees
550
Yönetim Kurulu Board of Directors
Josef Waltl (Baflkan Chairman)
Erdal Aksoy (Üye Member)
Yılmaz Tecmen (Üye Member)
David Ritter (Üye Member)
Canan Edibo¤lu (Üye Member)
Trudy Bovay (Üye Member)
Rob Sidoli (Üye Member)
CEO
George Spanoudis
CFO
Gerald Kok
Adres Address
Karamancılar ‹fl Merkezi
Gülbahar Mah. Salih Tozan Sok. No:18 B Blok
Esentepe, fiiflli 34394 ‹stanbul Türkiye
Tel
+90 212 376 0000
Fax
+90 212 376 0619
* Yıllık olası satıfl hacmi hakkında sadece fikir sahibi olunabilmesi açısından flirketin faaliyete baflladı¤ı
1 Temmuz 2006 ile 31 Aralık 2006 arası satıflları ile Shell Türkiye ve Turcas Petrol’ün 1 Ocak 2006 – 30
Haziran 2006 arasındaki satıfllarının toplamı bilgi için verilmektedir.
* Aggregate of 2H-2006 revenues of STAfi and 1H-2006 revenues of Shell Turkey and Turcas Petrol given
for information only as an indication of potential annualized turnover of the company.
47
48
49
SHELL & TURCAS - FINANCIAL HIGHLIGHTS F‹NANSAL GÖSTERGELER (YTL)
2006-2. Yar›Y›l 2006-2H
Net Sat›fllar Net Sales
3,642,723,621
Esas Faaliyet Kar› (Zarar›) Net Operating Profit (Loss)
102,404,957
Vergi-Öncesi Kar (Zarar) Profit Before Monetary Gain and Tax (Loss)
132,844,903
Vergiler Taxes
27,009,321
Net Dönem Kar› (Zarar›) Net Profit (Loss)
105,835,582
Hisse Bafl›na Kazanç Profit Per Share (YKr)
0.20
Dönen Varl›klar Toplam› Total Current Assets
816,046,036
Duran Varl›klar Toplam› Total Long-Term Assets
866,930,482
Aktifler Toplam› Total Assets
1,682,976,518
K›sa Vadeli Yükümlülükler Toplam› Total Short-Term Assets
461,828,975
Uzun Vadeli Yükümlülükler Toplam› Total Long-Term Assets
73,347,636
Özsermaye Toplam› Total Shareholders' Equity
1,147,799,907
Pasif Toplam› Total Liabilities and Shareholders Equity
1,682,976,518
HER ‹K‹ ORTA⁄IN
GÜÇLÜ YANLARI
ÜZER‹NE KURULU,
TURCAS’IN YEREL,
SHELL GRUBUNUN
GLOBAL
UZMANLI⁄INDAN
FAYDALANAN
“TEK fi‹RKET,
TEK TAKIM"...
UTILIZING THE
STRENTGHS OF
BOTH PARTNERS,
BENEFITING FROM
TURCAS’ LOCAL
AND SHELL’S
GLOBAL EXPERTISE
"ONE COMPANY,
ONE TEAM"...
50
MARMARA PETROL VE RAF‹NER‹ ‹fiLER‹ A.fi.
MARMARA PETROLEUM & REFINING
Ödenmifl Sermayesi Paid-in Capital
1,090,000 YTL
Hissedarlık Yapısı Ownership Profile
%100 Turcas Petrol A.fi.
Yönetim Kurulu Board of Directors
Erdal Aksoy (Baflkan Chairman)
Yılmaz Tecmen (Baflkan Vekili Vice Chairman)
M. ‹lhan Nebio¤lu (Üye Member)
Banu Aksoy Tarakçıo¤lu (Üye Member)
S. Batu Aksoy (Üye Member)
Adres Address
Emirhan Caddesi 145 Atakule K:6
Befliktafl 34349 ‹stanbul Türkiye
Tel
+90 212 259 0000
Fax
+90 212 259 0019
Turcas'›n hisselerinin %100'üne sahip oldu¤u ba¤l› ortakl›¤› Marmara Petrol
ve Rafineri ‹flleri A.fi. (”Marmara”) 1958 y›l›nda kurulmufltur.
Marmara Petroleum & Refining (”Marmara”), established in 1958, is a
wholly-owned subsidiary of Turcas.
Her türlü petrol ve petrol ürünlerinin rafinaj›, al›m›-sat›m›, ihrac›-ithali,
depolamas› ve ilgili faaliyetleri yürütür. Marmara,1962 y›l›nda operasyona
bafllayan Mersin'de kurulu ATAfi Rafinerisi'nin %5 oran›nda hissedar›d›r.
Marmara'n›n ATAfi'daki ortaklar›; BP (%68) ve Shell (%27) firmalar›d›r.
The company executes activities related to oil and oil products refining,
trade, import-export and storage. Marmara owns 5% shares of the ATAfi
Refinery located in Mersin. Partners of Marmara in ATAfi are BP (68%) and
Shell (27%).
Ortaklar›n 2004 y›l›nda rafineriyi kapatarak tesisi Akdeniz'e k›y›s› olan büyük
ölçekli bir Petrol Ürünleri Terminaline çevirme karar›ndan sonra yap›lan
yat›r›mlar sonucunda bugün ATAfi Terminali lisansl› depoculuk faaliyeti
göstermektedir. Terminal yaklafl›k 600,000 ton petrol ürünü depolama
kapasitesine sahiptir. Tesisin, yüksek kapasiteli gemilerin yanaflabildi¤i
kendi iskelesi mevcuttur.
As result of the investments made after the decision of closing the Refinery
and transforming it into a large scaled Oil Products Terminal at the
Mediterranean shore in 2004, ATAfi Terminal today performs licensed storage
activities. The Terminal has an approximate oil products storage capacity
of 600,000 mt and its own jetty where high-capacity ships can dock.
51
TURCAS’IN
BÜNYES‹NDE
ÖNEML‹
B‹R YATIRIM,
AYRI B‹R TES‹S...
A SIGNIFICANT
INVESTMENT, A
DISTINCT FACILITY
WITHIN TURCAS...
52
PETROL VE
DO⁄ALGAZ
P‹YASALARINDA
ULUSLARARASI
AÇILIMLAR
HEDEFL‹YORUZ...
WE AIM TO
EXPAND INTO THE
INTERNATIONAL
OIL AND GAS
MARKETS...
53
SOCAR & TURCAS ENERJ‹ A.fi.
SOCAR & TURCAS ENERGY
Turcas, petrol ve do¤algaz sektörlerinde yeni bafllataca¤› faaliyetlerine iliflkin
Azerbaycan’›n petrol ve do¤algaz flirketi State Oil Company of Azerbaijan
Rupublic (SOCAR) ile 2006'n›n son çeyre¤inde stratejik bir ortakl›¤a imza
atm›flt›r. Bunun sonucu olarak Turcas, SOCAR ile birlikte Socar & Turcas
Enerji A.fi. (”STEAfi”) adl› yeni bir flirket kurmufltur. Turcas bu flirketin %25
oran›nda hissedar›d›r.
SOCAR, Bakü-Tiflis-Ceyhan (BTC) boru hatt›n›n %25 oran›nda hissedar›d›r,
dolay›s›yla Ceyhan'da önümüzdeki y›llardan itibaren yüksek miktarda ham
petrolü olacakt›r. Ayr›ca, Bakü-Erzurum fiah Deniz Do¤algaz boru hatt›n›n
inflaat› da tamamlanm›flt›r. Bu geliflmeler ›fl›¤›nda STEAfi için bugün düflünülen
iki ana faaliyet konusu:
• Ceyhan'da kurulacak bir petrol rafinerisi için fizibilite çal›flmalar›na bafllamak
ve bunun sonucuna göre rafineri kurmak üzere gerekli müracaatlarda
bulunmak,
• Do¤algaz piyasas›n›n liberalleflmesine paralel olarak Azeri do¤algaz›n›
Türkiye'ye ithal ederek iç piyasada kullan›c›lara satmak ve toptan sat›fl
faaliyetlerinde bulunmakt›r.
Ödenmifl Sermayesi Paid-in Capital
50,000,000 YTL
Hissedarlık Yapısı Ownership Profile
%51 SOCAR (State Oil Company of the Azerbaijan Republic)
%25 Turcas Petrol A.fi.
%24 Aksoy Holding A.fi.
Yönetim Kurulu Board of Directors
Rövnag Abdullayev (Baflkan Chairman)
Erdal Aksoy (Baflkan Vekili Vice Chairman)
Yılmaz Tecmen (Üye Member)
S. Batu Aksoy (Üye Member)
Vagif Aliyev (Üye Member)
Davud Mamedov (Üye Member)
Farrukh Gassimov (Üye Member)
Adres Address
Emirhan Caddesi 145 Atakule K:5
Befliktafl 34349 ‹stanbul Türkiye
Tel
+90 212 259 0000
Fax
+90 212 259 0019
In the fourth quarter of 2006, Turcas entered into a strategic partnership
with the State Oil Company of Azerbaijan Republic (SOCAR) to pursue new
ventures in the oil and gas sectors. Turcas and SOCAR jointly established
a new company named Socar & Turcas Enerji A.fi. (”STEAfi”), owned 25%
by Turcas.
SOCAR, owning 25% shares of the Baku-Tbilisi-Ceyhan (BTC) Oil Pipeline,
will have significant amounts of crude oil in Ceyhan in the following years.
Additionally, the construction of the Baku-Erzurum Shah Deniz Natural Gas
Pipeline has recently been completed. In view of these developments, the
two major fields of activity currently planned for STEAfi are:
• To start the feasibility study for an oil refinery planned to be built in
Ceyhan and accordingly file the required applications to the Energy Market
Regulatory Authority for a Refinery License,
• To import and wholesale the Azeri natural gas in Turkey parallel to the
liberalization of the natural gas market.
54
TURCAS GAZ TOPTAN SATIfi A.fi.
TURCAS GAS TRADING
Ödenmifl Sermayesi Paid-in Capital
2,700,000 YTL
Hissedarlık Yapısı Ownership Profile
%100 Turcas Petrol A.fi.
Yönetim Kurulu Board of Directors
Erdal Aksoy (Baflkan Chairman)
Yılmaz Tecmen (Baflkan Vekili Vice Chairman)
M. ‹lhan Nebio¤lu (Üye Member)
Banu Aksoy Tarakçıo¤lu (Üye Member)
S. Batu Aksoy (Üye Member)
Adres Address
Emirhan Caddesi 145 Atakule K:5
Befliktafl 34349 ‹stanbul Türkiye
Tel
+90 212 259 0000
Fax
+90 212 259 0019
Turcas Gaz Toptan Sat›fl A.fi. ("Turcas Gaz") Haziran 2005'te, liberalleflen
Türkiye do¤algaz piyasas›nda, ithalat ve toptan sat›fl faaliyetleri göstermek
üzere kurulmufltur. Turcas Gaz, Turcas'›n %100 oran›nda ba¤l› ortakl›¤›d›r.
Turcas Gas Trading ("Turcas Gaz") is founded in June 2005 to engage in
importation and wholesale activities in the liberalizing Turkish natural gas
market. Turcas Gaz is a wholly-owned subsidiary of Turcas.
2000 y›l›ndan itibaren do¤algaz piyasas›ndaki geliflmeleri takip eden Turcas,
bu süre zarf›nda çok-uluslu enerji firmalar› ile iflbirlikleri yaparak do¤algaz
ticareti konusunda uluslararas› bilgi birikimi ve deneyim elde etmifltir.
Having monitored the developments in the natural gas market since 2000,
Turcas since then has cooperated with a number of multi-national energy
firms which contributed international know-how and experience to the
company in the gas business.
Turcas Gaz, BOTAfi'›n Kontrat Devri ‹halaleri'nde baflar› sa¤layarak Türkiye
do¤algaz piyasas›n›n ilk özel sektör ithalat/toptan sat›fl firmalar›ndan biri
olmay› hedeflemektedir. Bu ba¤lamda özellikle Türkiye'yi çevreleyen zengin
do¤al kaynak sahibi ülkelerin do¤algaz flirketleri ile iflbirlikleri yapmak Turcas
Gaz'›n önceliklerindendir. Önümüzdeki dönemlerde do¤algaz ithalat›n›n
serbestçe yap›labilecek olmas› da Turcas Gaz'›, gelifltirmifl oldu¤u iflbirlikleri
ve ortakl›klar sayesinde, stratejik olarak avantajl› bir konuma getirecektir.
Enerji Piyasas› Düzenleme Kurumu'ndan 2007 y›l›n›n ilk çeyre¤i içinde Do¤al
Gaz Toptan Sat›fl Lisans› almak üzere gerekli baflvurular› yapan Turcas Gaz,
do¤algaz toptan sat›fl› ve ard›ndan da ithalat› faaliyetlerine 2007 y›l› içinde
bafllamay› hedeflemektedir.
Turcas Gaz targets to be one of the first private sector importer/wholesale
companies in the Turkish natural gas market by successfully participating
in BOTAfi’ Contract Release Tenders. One of the priorities of Turcas Gaz is
to collaborate with the gas export companies of the energy rich nations
surrounding Turkey. The cooperations and partnerships which the company
has already entered into, will carry Turcas Gaz to a strategically advantageous
position when restrictions on entering into new natural gas import contracts
will be removed.
Turcas Gaz has applied to the Energy Market Regulatory Authority of Turkey
to obtain a Natural Gas Wholesale License within the first quarter of 2007,
hence plans to start first wholesale then importation activities within 2007.
55
TÜRK‹YE'N‹N ARTAN
DO⁄ALGAZ
‹HT‹YACINA
ODAKLANMIfi ETK‹N
‹fiB‹RL‹KLER‹YLE
GELECE⁄‹
PLANLAMAKTAYIZ...
WE PLAN THE FUTURE
THROUGH
PARTNERSHIPS
FOCUSED ON
TURKEY'S GROWING
GAS NEEDS...
56
ÇOK ÇEfi‹TL‹
FAAL‹YETLER‹M‹ZDE
BAfiARIYA
ULAfiMAMIZIN
ANAHTARI YILLARA
DAMGASINI VURAN
DENEY‹M‹M‹ZD‹R...
OUR KEY TO SUCCESS
FOR DIVERSIFIED
ACTIVITIES IS OUR
EXTENSIVE
EXPERIENCE...
57
TURCAS ELEKTR‹K ÜRET‹M A.fi.
TURCAS POWER GENERATION
Türkiye'nin ekonomik geliflimine ve büyümesine paralel olarak elektrik
ihtiyac›n›n önemli ölçüde art›yor olmas› ve yat›r›mlar için potansiyel vaadeden
önemli bir pazar haline gelmesi, Turcas'›n da elektrik sektörüne stratejik
olarak ilgi duymas›na yol açm›flt›r.
Turcas'›n %100 oran›nda ba¤l› ortakl›¤› olan Turcas Elektrik Üretim A.fi.
("TEÜ"), yeni enerji tesisleri kurmak ve kârl›l›¤› yüksek kurulu tesisleri
bünyesine katmak suretiyle yat›r›mlar yapmay›, çeflitlendirilmifl üretim
portföyü ile Türkiye ve civar ülkelerdeki lider enerji firmalar›ndan biri olmay›
ve sermaye piyasalar›nda halka aç›lmay› hedeflemektedir.
TEÜ, ba¤›ms›z üretim flirketi, Yap-‹fllet-Devret, Yap-‹fllet, ‹flletme Hakk› Devri
ve/veya di¤er modellerde projeler gelifltirip uygulamakta ve iflletmektedir.
Ödenmifl Sermayesi Paid-in Capital
300,000 YTL
Hissedarlık Yapısı Ownership Profile
%100 Turcas Petrol A.fi.
Yönetim Kurulu Board of Directors
Erdal Aksoy (Baflkan Chairman)
Yılmaz Tecmen (Baflkan Vekili Vice Chairman)
M. ‹lhan Nebio¤lu (Üye Member)
Banu Aksoy Tarakçıo¤lu (Üye Member)
S. Batu Aksoy (Üye Member)
Adres Address
Emirhan Caddesi 145 Atakule K:5
Befliktafl 34349 ‹stanbul Türkiye
Tel
+90 212 259 0000
Fax
+90 212 259 0019
The significant increase in electricity demand that paralleled the Turkish
economic and industrial growth as well as the need for capital investments
gave birth to the strategic interest of Turcas in the Turkish power market.
Turcas Power Generation (“TPG”), a wholly-owned subsidiary of Turcas,
targets to make green-field and brown-field energy investments and take
its place in the international capital markets as one of the top energy
companies in Turkey and surrounding region with a diversified generation
portfolio.
TPG develops, implements, owns and operates power plant projects based
on IPP, BOT, BOO, TOR and/or other models in and out of Turkey.
TEÜ afla¤›daki sorumluluklar› üstlenmektedir:
• Projelerin, tek bafl›na ya da yerli-yabanc› yat›r›mc›lar ve/veya proje
gelifltiricileri ile iflbirli¤i içinde finansal yap›s›n› oluflturmak
• Gerekli izin ve onaylar›n al›nmas›n› sa¤lamak
• Projenin mühendislik, sat›n alma, inflaat (EPC) ve devreye alma baz›nda
tafleronlara verilmesini üstlenmek
• Tesisin ticari iflletmesini yapmak
TPG undertakes responsibilities such as:
• Establishing the financial structure of its projects on its own or in partnership
with local/foreign investors and/or developers
• Securing the regulatory permits and approvals required by authorities
• Contracting the projects in terms of engineering, procurement, construction
(EPC) and commissioning
• Undertaking the commercial operation of power plants
TEÜ dahil Turcas bünyesindeki tüm elektrik ve gaz flirketlerini tek merkezden
koordine eden Turcas Elektrik ve Gaz Grubu'nun enerji sektöründe 15 y›ldan
fazla süredir anahtar konumundaki uzman ve deneyimli kadrosu ile Turcas'›n
vizyonu ve sektörel pozisyonunun bütünleflmesi, flirketi hedefine ulaflt›racak
en önemli etkenlerdendir.
Combination of the experience of Turcas Power & Gas Group – the
coordination center of all the power and gas companies under the ownership
of Turcas – having played a key role in the Turkish power market for more
than fifteen years, with the vision and position of Turcas in the energy
industry, is one of the most important assets that will enable the company
to reach its goals.
TEÜ faaliyet alanlar›n› gelifltirirken afla¤›daki kaynaklara dayal› üretim
projelerine odaklanmaktad›r:
• Kömür ve Linyit • S›v› Yak›tlar • Do¤algaz • Biyokütle • Günefl • Rüzgar
• Hidrolik • Nükleer
Turcas Power Generation is focused on generating projects that are mainly
based on:
• Coal & Lignite • Liquid Fuels • Natural Gas • Biomass • Solar • Wind
• Hydraulic • Nuclear
58
TURCAS ELEKTR‹K TOPTAN SATIfi A.fi.
TURCAS POWER TRADING
Ödenmifl Sermayesi Paid-in Capital
1,000,000 YTL
Hissedarlık Yapısı Ownership Profile
%100 Turcas Petrol A.fi.
Yönetim Kurulu Board of Directors
Erdal Aksoy (Baflkan Chairman)
Yılmaz Tecmen (Baflkan Vekili Vice Chairman)
M. ‹lhan Nebio¤lu (Üye Member)
Banu Aksoy Tarakçıo¤lu (Üye Member)
S. Batu Aksoy (Üye Member)
Adres Address
Emirhan Caddesi 145 Atakule K:5
Befliktafl 34349 ‹stanbul Türkiye
Tel
+90 212 259 0000
Fax
+90 212 259 0019
Enerji piyasalar› dünya çap›nda serbestleflme e¤ilimindedir. Türkiye, 2001
y›l›nda yürürlü¤e giren 4628 say›l› Elektrik Piyasas› Kanunu ve ilgili mevzuat›
ile bu e¤ilime uyum sa¤lamak konusunda ilk ad›m› atm›flt›r.
Energy markets have a global tendency towards liberalization. For adapting
this tendency, Turkey took the first step by enacting the Electricity Market
Law No. 4628 and related regulations in 2001.
2000 y›l›nda kurularak 5 Haziran 2003 tarihinde Türkiye'de ilk özel sektör
Elektrik Toptan Sat›fl Lisans›'n› alan Turcas Elektrik Toptan Sat›fl A.fi. ("TETS")
elektrik ticaret hacmi, ithalat ve ihracat ba¤lant›lar› ve uluslararas› iflbirlikleri
ile Türkiye elektrik toptan sat›fl piyasas›n›n öncü kurulufllar›ndan biri olmay›
hedeflemektedir.
Established in 2000 and obtained the first private sector Electricity Wholesale
License on June 5, 2003, Turcas Power Trading (“TPT”) targets to become
one of the leading companies in the Turkish electricity whosale market
with its trading volume, import and export connections and international
cooperations.
Elektrik üretim tesislerinin optimum verimde çal›flmas›n› sa¤lamak ve
ülkemizin enerji köprüsü niteli¤indeki stratejik konumundan kaynaklanan
avantajlar›n› en üst seviyede kullanmak TETS'in öncelikli amac›d›r. fiirketimiz
ülkemizdeki elektrik tüketicisi endüsriyel ve ticari kurulufllara en uygun
koflullarda güvenilir enerji temin edip yurtiçi ve yurtd›fl› rekabet güçlerinin
artmas›na katk›da bulunmay› misyon edinmifltir.
It is the prior goal of TPT to help generation facilities operate with optimum
efficiency and to benefit from the advantages of Turkey’s strategic position
as an energy bridge and terminal. Our company’s mission is to contribute
to the competition power of energy consuming industrial and commercial
facilities throughout our nation by supplying them reliable energy under
best possible conditions.
2006 y›l›n›n A¤ustos ay›nda fiili olarak uygulanmaya bafllayan Dengeleme
ve Uzlaflt›rma Yönetmeli¤i (DUY) ile elektrik fiyatlar› ve piyasada dengeleme
ve uzlaflt›rma ifllemleri gerçek zamanl› elektrik arz ve talebine göre
belirlenmeye bafllam›flt›r. TETS olarak teknolojik altyap›m›z›, sadece bugünün
gereksinimlerini de¤il, yeniden yap›land›r›lan elektrik piyasalar›n› da göz
önünde bulundurarak oluflturmaktay›z.
With the execution of the Balancing and Settlement Regulation in August
2006, pricing of electricity as well as the balancing and settlement in the
market started to be determined based on real-time supply and demand
of active energy. As TPT, we have designed our technological infrastructure
keeping in mind not only today’s requirements but also the re-sturcturing
of the electricity markets.
59
AMACIMIZ, ELEKTR‹K
TÜKET‹C‹S‹ ENDÜSTR‹YEL
VE T‹CAR‹ KURULUfiLARA
EN UYGUN KOfiULLARDA
ENERJ‹ TEM‹N ED‹P
YURT‹Ç‹ VE YURTDIfiI
REKABET GÜÇLER‹N‹
ARTIRMAKTIR...
OUR CHALLENGE IS TO
PROVIDE ENERGY TO THE
INDUSTRIAL AND
COMMERCIAL
ESTABLISHMENTS WITH
THE MOST FAVORABLE
CONDITIONS IN ORDER
TO SUSTAIN THEIR
COMPETITION POWER,
NATIONWIDE AND
WORLDWIDE...
60
GELECE⁄E YATIRIM
YAPMAK ‹STEYENLERE
BAfiTAN SONA H‹ZMET
VEREB‹LEN TURCAS EPC
ANAHTAR TESL‹M‹
PROJELER SUNAR...
ENSURING
END-TO-END SERVICE,
TURCAS EPC DELIVERS
TURNKEY PROJECTS TO
ITS CLIENTS...
61
TURCAS EPC
TURCAS EPC
Turcas Elektrik ve Gaz Grubu çat›s› alt›nda deneyimi ve kapasitesiyle kendini
kan›tlam›fl bir ekipten* oluflan Turcas EPC Tak›m› ("Turcas EPC") enerji
tesisleri, tesis ana bak›m, modifikasyon, iyilefltirme iflleri ile saha iflleri için
komple genel taahhüt, alt yüklenici yönetimi, inflaat yönetimi, MühendislikSat›n Alma-‹nflaat (EPC) da dahil olmak üzere her türlü hizmeti sunar.
Turcas EPC, proje ve inflaat yönetimi kapasitesi, deneyimli tafleronlar› ve
iyi yap›land›r›lm›fl kaynak yönetimi uygulamalar› ile enerji sektöründe
mükemmelli¤e odaklanm›fl bir organizasyon olarak an›lmay› amaç edinmifltir.
Turcas EPC taraf›ndan sa¤lanan hizmetler afla¤›dakileri kapsamaktad›r:
• Mühendislik Yönetimi
• Sat›n Alma Yönetimi
• ‹nflaat Yönetimi
• Tüm Projenin Yönetimi
• Finans Yönetimi
• Anahtar Teslimi EPC ve Devreye Alma Hizmetleri
Comprised of selected individuals* – under the Turcas Power and Gas Group
– with proven capacity and experience in Power Generation Projects, Turcas
EPC Team (“Turcas EPC”) offers a complete range of construction services,
including general contracting, subcontracting, construction management,
Engineering–Procurement–Construction (EPC) services for complete power
facilities, major plant maintenance, modification/retrofit work, and site
services.
With reliable project and construction management capabilities, experienced
subcontractors and well-structured resource management methods, Turcas
EPC aims to be known throughout the energy industry as an organization
committed to excellence.
Services provided by Turcas EPC include:
• Engineering Management
• Procurement Management
• Construction Management
• Overall Project Management
• Finance Management
• Turnkey EPC and Commissioning
Turcas EPC, müflteriye projenin bütün yönlerini tek bir kaynak sorumlulu¤unda
kontrol edebilme imkan›n› veren verimli, deneyimli ve bilgili bir proje ve
inflaat yönetimi ekibi kuracak tecrübe ve kaynaklara sahiptir.
Turcas EPC has the experience and resources to build effective and informationdriven projects and construction management teams that would provide
the client with a single source of responsibility to control all aspects of the
projects.
Turcas EPC'nin proje yönetimi yaklafl›m›; projenin tüm fazlar›n› baflar›ya
ulaflt›racak planlama, izinler ve lisanslar, ön tasar›m, tasar›m mühendisli¤i,
sat›n alma, saha hizmetleri, inflaat, ön iflletme, devreye alma ve kesin kabul
gibi alt sistemler fleklindedir.
Turcas EPC’s project management approach includes subsystems for
accomplishing all phases of the project including project planning, permits
and licensing, conceptual design, design engineering, procurement, site
services, construction and pre-operation, start-up, and final completion.
Turcas EPC proje finansman›n›n yan› s›ra ticari, vergisel ve yasal uygulamalar
için lojistik de sa¤layabilmektedir.
Turcas EPC is also capable of providing support for project finance, logistics
for commercial applications, tax related and legal applications.
*1989-2000 y›llar› aras›nda Ak Enerji'nin Genel Müdürlü¤ü, 2000-2007 y›llar› aras›nda Arges Enerji Sistemleri,
Nar Enerji ve Unit Enerji Sistemleri'nin CEO'lu¤u görevlerinde bulunmufl olan, Turcas Elektrik & Gaz Grubu'nun
CEO'lu¤u görevini üstlenen Sayın Mehmet Özata ve ekibi
*Mr. Mehmet Özata, CEO of TURCAS Power & Gas Group, who worked as the General Manager of Ak Enerji
between 1989 and 2000, then CEO of Arges Energy Systems, Nar Energy and Unit Energy Systems between
2000 and 2007, and his team.
62
GELECE⁄E YAPILAN YATIRIM BUGÜN ALINAN KARARLARIN B‹R SONUCUDUR.
INVESTING IN FUTURE IS A RESULT OF TODAY'S DESICIONS.
63
SÜRDÜRÜLEB‹L‹RL‹K
SUSTAINABILITY
Our Commitment to Environment
Çevreye Karfl› Yükümlülü¤ümüz
fiirket Yönetim Kurulu taraf›ndan 2001 y›l›nda Emniyet, Sa¤l›k ve Çevre
(ESÇ) politikas› onaylanm›fl ve uygulanmaya bafllam›flt›r. Bu politika
çerçevesinde personel bütün kazalar›n önlenebilir oldu¤u felsefesiyle
e¤itilmektedir. fiirket ile çal›flan 3. kiflilere de bu politika tan›t›lmakta ve
politikaya uygun olarak çal›flmalar› flart koflulmaktad›r. Dönem içinde
çevreye verilen zararlardan dolay› flirket aleyhine aç›lan dava yoktur.
The Safety, Health, and Environment (SHE) Policy was approved by the
Board of Directors of Turcas and enacted in 2001. Within the framework
of this policy, the staff is trained with the philosophy that all accidents
are preventable. This policy is also introduced to third parties conducting
business with the company where its adoption is stipulated in all business
acts. There is no suit filed against the company for damages to the
environment within this period.
Our Commitment to Community
Topluma Karfl› Yükümlülü¤ümüz
Yönetim Kurulu taraf›ndan 1 May›s 1997 tarihinde flirket çal›flanlar› için
“‹fl Ahlâk› Politikas›” yürürlü¤e konmufltur. Bu politika menfaat çat›flmalar›,
flirket içinden bilgi, politik yard›mlar, muhasebe standartlar› ve
dokümantasyon, al›nan hediyeler gibi konularda flirket çal›flanlar›n›n uymas›
gereken kurallar› belirlemektedir. Bu politika çerçevesinde her y›l sonunda
tüm çal›flanlardan “‹fl Ahlâk› Politikas› ve Yönetmeliklere Kiflisel Uyum”
formu ad› alt›nda yaz›l› bir beyan ve taahhüt al›nmaktad›r.
The “Business Ethics Policy” for the company staff was enacted by the
Board on May 1, 1997. This policy defines the rules which the staff has
to obey in issues such as conflicts of interest, insider information, political
favors, accounting standards and documentation, and gifts accepted.
A written statement and commitment, namely “Business Ethics Policy
and Regulations Personal Compliance Form”, is taken from all the staff
at the end of each year as per this policy.
fiirketimiz y›llar içerisinde Petrolcüler Derne¤i, Türk E¤itim Vakf›, Unicef
Türkiye Milli Komitesi olmak üzere Yönetimin onay› do¤rultusunda çeflitli
ba¤›fllar yapm›flt›r. Bu ba¤›fllar›n tutar› 2003 y›l› için 12.901 YTL, 2004 y›l›
için 22.914 YTL, 2005 y›l› için 27.475 YTL ve 2006 y›l› için 18.081 YTL'd›r.
Turcas has made various donations in years to the Petroleum Industry
Association (PETDER), Turkish Education Foundation (TEV) and Unicef Turkey
National Committee as approved by its Board of Directors. These donations
were: YTL 12,901 in 2003, YTL 22,914 in 2004, YTL 27,475 in 2005 and
YTL 18,081 in 2006.
Turcas ayr›ca Türk Petrol markas›n›n kullan›m› ile ilgili olarak ana amac›
e¤itime katk›da bulunmak ve ö¤renci okutmak olan Türk Petrol Vakf›'na
2003 y›l›da 371.797 YTL, 2004 y›l›nda 368.485 YTL, 2005 y›l›nda 348.859
YTL ve 2006 y›l›nda 160.940 YTL ödemifltir.
Turcas has additionally paid YTL 371,797 in 2003, YTL 368,485 in 2004,
YTL 348,859 in 2005 and YTL 160,940 in 2006 to the Türk Petrol Foundation
for using the Türkpetrol brand. Main purpose of the Türk Petrol Foundation
is to contribute to education and provide scholarships to students.
64
KURUMSAL YÖNET‹M ‹LKELER‹
CORPORATE GOVERNANCE PRINCIPLES
1- Declaration of Compliance with Corporate Governance Principles
1- Kurumsal Yönet‹m ‹lkelerine Uyum Beyan›
fiirketimiz'in pay sahiplerinin Kurumsal Yönetim ‹lkelerinde belirtilen haklar›n›n
kullan›m› konusunda Mali Bölüm bünyesinde bu konularda uzman kiflilerden
oluflan bir grup görev yapmaktad›r. Bu grup pay sahiplerinin haklar›, kamuyu
ayd›nlatma ve bilgi verme, menfaat sahipleri ile iliflkiler, sosyal sorumluluk,
A group of specialists in the Finance Division work on all the various aspects
of the treatment of the Company's shareholders as specified in the Corporate
Governance Principles of the Capital Markets Board. This group is focused
on shareholders' rights, public disclosures and information, relations with
stakeholders, social responsibility, audit and the activities of the Board of
Directors, in conformance with the provisions of the Turkish Commercial
Code, the Company's Articles of Association and the principles of the Capital
Markets Board.
denetim ve Yönetim Kurulu'nun faaliyetleri konusunda TTK, fiirket Ana
Sözleflmesi ve SPK ‹lkeleri çerçevesinde çal›flmaktad›r.
Genel prensipleri itibariyle fiirket'in finansal durumuna ve faaliyet sonuçlar›na
etki edecek durumlar zaman geçirmeksizin do¤ru, eksiksiz, anlafl›labilir bir
flekilde kamuya aç›klanmaktad›r.
In accordance with the general principles, any events which may affect the
financial situation or results of operations of the Company are disclosed
promptly, accurately and completely.
The Company's human resources policy and business ethics policy and
practices are maintained, and our basic principles relating to employees'
rights are published in the annual reports.
fiirketimiz'in insan kaynaklar› politikas› ve ifl ahlak› politikas› uygulamalar›
sürdürülmekte olup çal›flanlar›n haklar› ile ilgili temel prensipler y›ll›k faaliyet
raporlar›nda yay›nlanmaktad›r.
fiirketimiz faaliyet gösterdi¤i ifl kolunun özelli¤i gere¤i sosyal sorumluluklar›
çerçevesinde 2001 y›l›nda bir Emniyet, Sa¤l›k ve Çevre (ESÇ) politikas›
yürürlü¤e koymufltur. fiirket ile çal›flan servis sa¤lay›c›lar ve müteahhitlere
As a requirement of our industry, and as part of our social responsibilities,
a Safety Health and Environment (SHE) policy was established in 2001. This
policy is also communicated to service providers and contractors working
with our Company, and they are required to work in strict compliance with
the policy. During the current period, no lawsuit or investigation has been
started against the Company due to alleged damages to the environment.
de bu politika tan›t›lmakta ve politikaya uygun olarak çal›flmalar› flart
koflulmaktad›r. Dönem içinde çevreye verilen zararlardan dolay› flirket
aleyhine aç›lan dava yoktur.
fiirketimiz'in Yönetim Kurulu, TTK, fiirket Ana Sözleflmesi ve SPK prosedürleri
ile genel kabul görmüfl etik kurallar çerçevesinde sorumluluklar›n›
yürütmektedir. Yönetim Kurulu SPK tebli¤ine uygun olarak icradan sorumlu
olmayan iki üyeden oluflan bir Denetim Komitesi teflkil etmifltir.
Our Company's Board of Directors fulfills its functions and responsibilities
in strict conformity to the provisions of the Turkish Commercial Code,
Company's Articles of Association, principles of the Capital Markets Board
and the generally accepted rules of ethics. The Board of Directors has
recently appointed an Audit Committee comprised of 2 non-executive
members in accordance with the relevant notifications of the Capital Markets
Board.
65
BÖLÜM I - PAY SAH‹PLER‹
PART I - SHAREHOLDERS
2- Pay Sahipleri ‹le ‹liflkiler
2- Relations with Shareholders
Pay sahipleri ile ilgili ifllemler "Mali Bölüm" bünyesinde takip edilmektedir.
Relations with shareholders are dealt with by staff from the Finance Division.
The focal persons on this issue are:
Konuyla ilgili olarak:
C. Yusuf Ata
C. Yusuf Ata
Assistant Accounting Manager
Muhasebe Müdür Yard›mc›s›
0212 259 0000/1205
0212 259 0000/1205
[email protected]
[email protected]
Nurettin Demircan Muhasebe Müdür Yard›mc›s›
Nurettin Demircan Assistant Accounting Manager
0212 259 0000/1251
0212 259 0000/1251
[email protected]
[email protected]
Engin Çaylan
Muhasebe Personeli
Engin Çaylan
0212 259 0000/1253
0212 259 0000/1253
[email protected]
[email protected]
Nesrin Aflula
Muhasebe Personeli
0212 259 0000/1256
[email protected]
görev yürütmektedir.
Bu grubun bafll›ca faaliyetleri SPK-‹MKB-Takasbank iliflkileri, sermaye
art›r›mlar›, halka arz ifllemleri, temettü ödemeleri, ortaklar pay defteri
kay›tlar›n›n güncellenmesi, hisse devirleri, Merkezi Kay›t Kuruluflu ve KAP
ile ilgili ifllemler, ola¤an ve ola¤anüstü genel kurul çal›flmalar›, kamuyu
ayd›nlatma ifllemleridir.
Accounting Clerk
Nesrin Aflula
Accounting Clerk
0212 259 0000/1256
[email protected]
Included among the basic activities of this group are relations with CMBISE-Custody Bank, capital increases, public offerings, dividends and
distributions, share book updating, share transfers, relations with the Central
Registry Agency and transactions with regard to the Public Information and
Automation Project, ordinary and extraordinary meetings of the general
assembly of the shareholders, and public disclosures.
Dönem içerisinde yaklafl›k 250 civar›ndaki baflvurunun tamam› yan›tlanm›flt›r.
During the current period, around 250 requests have been received, and
all answered.
Ayr› bir birim oluflturulmamas›n›n gerekçesi fayda - maliyet aç›s›ndan
organizasyon içerisinde de¤erlendirildi¤inde birimin kay›p zaman fazlal›¤›d›r.
The company believes that, given the current level of activity, there is no
justification in establishing a separate unit for this function.
66
3- Pay Sahiplerinin Bilgi Edinme Haklar›n›n Kullan›m›
3- Use of Information Rights by Shareholders
Pay sahipleri dönem içinde yaklafl›k 250 adet çeflitli konuda bilgi talebinde
bulunmufltur. Talepler genellikle hisse de¤iflimi, hisse devri, temettü da¤›t›m›,
sermaye art›fl›, mali tablolara iliflkin talepler, faaliyet raporu talepleri, hisse
senetlerinin fiyatlar›, dönem kar›, özel durum aç›klamalar› vb'dir.
Talep edilen bilgiler sözel ve/veya yaz›l› olarak cevaplanmaktad›r.
During the current period, shareholders have made approximately 250
requests for data and information on a variety of issues. The information
requested is mostly to do with exchange of shares, share transfers, dividends
and other distributions, capital increases, financial statements, annual
reports, share prices, current period profit, special event disclosures, etc.
The information requests are responded to verbally and/or in writing.
2004 y›l›ndan itibaren pay sahipli¤i haklar›n›n kullan›m›n› etkileyecek
geliflmeler SPK - TÜB‹TAK/Bilten ortak projesi olan KAP (Kamuyu Ayd›nlatma
Projesi) kapsam›nda elektronik ortamda duyurulmaya bafllanm›flt›r.
Since 2004, all and any developments affecting shareholding rights are
made public via electronic medium as a part of the Public Information and
Automation Project, being a joint project of CMB-Tübitak/Bilten.
fiirket Ana Sözleflmesi'nin 22. maddesi gere¤ince "Belli hususlar›n incelenmesi
için gerekti¤inde Genel Kurul'ca özel murak›plar seçilir" hükmü mevcut
olup, dönem içinde böyle bir talep olmam›flt›r.
Article 22 of the Company's Articles of Association provides that: "The
General Assembly of Shareholders will elect and appoint special auditors
if and when required for audit and examination of certain issues". However
no such request has been made during the current period.
4- Genel Kurul Bilgileri
4- Information on General Assembly Meetings
fiirket'in 2005 y›l› hesap dönemine iliflkin Ola¤an Genel Kurul Toplant›s›
30.03.2006 tarihinde ‹stanbul Conrad Oteli'nde gerçekleflmifltir.
Toplam 105,000,000 adet hisseden %54.22 hisseye sahip ortaklar›m›z ve
menfaat sahipleri ile bir grup medya da toplant›ya ifltirak etmifltir.
Toplant›ya davet ilânlar› fiirket Ana Sözleflmesi'nin 27. maddesi uyar›nca
Yönetim Kurulu taraf›ndan Türkiye Ticaret Sicil Gazetesi'nde, ayr›ca günlük
yüksek tirajl› iki gazetede yay›nlanm›flt›r. ‹lâve olarak toplant› ile ilgili
gündemi, dönemin Bilânço ve Kâr-Zarar Tablosu ve vekâletname örne¤ini
içeren davet mektuplar› taahhütlü olarak ortaklara gönderilmifltir.
fiirket hisse senetlerinin tamam› nama yaz›l› olup, hisse senedi sahiplerine
iliflkin kay›tlar güncel olarak flirket pay defterine kaydedilmektedir. Hisseleri
‹MKB'de ifllem gören ortaklar için, genel kurul davet ilânlar›nda da belirtildi¤i
üzere sahip olduklar› hisselere iliflkin ortakl›k bilgileri ile birlikte toplant›
girifl kartlar›n› alabilmelerini teminen toplant› tarihinden en geç bir hafta
önce fiirket merkezine baflvurmalar› istenmektedir. Bu flekilde hazirun cetveli
toplant›dan bir hafta önce oluflturulmaktad›r.
Genel Kurul'dan 15 gün önce döneme iliflkin finansal raporlar ortaklar›n
incelemesine fiirket merkezinde haz›r bulundurulmakta ve ortaklara taahhütlü
olarak gönderilen davet mektuplar›n›n ekinde ilgili dönemin Bilânço ve KârZarar Tablosu da yer almaktad›r.
The Annual Ordinary Meeting of the General Assembly of Shareholders
relating to the 2005 accounting period of the Company was held in the
Conrad Istanbul Hotel on 30.03.2006.
Shareholders holding 54.22% of the total 105,000,000 shares, as well as
stakeholders and some press and media representatives attended the
meeting.
Pursuant to Article 27 of the Articles of Association, announcement of the
General Assembly Meetings are published by the Board of Directors in the
Turkish Trade Registry Gazette and also in two daily newspapers with high
circulation. In addition, letters of invitation, appended by the meeting
agenda, the Balance Sheet and the Profit and Loss Statement of the period,
and a form of proxy letter are sent by registered mail to the shareholders.
All of the share certificates of the Company are registered, and the updated
shareholder records are recorded in the share book of the Company. The
holders of shares quoted and traded in the Istanbul Stock Exchange are, as
also stated in the calls for the General Assembly meetings, requested to
apply to the Company head offices no later than one week prior to the
meeting date in order to receive a meeting entrance card and submitting
information about the shares they hold . Thus, the list of attendees is
prepared one week before the meeting.
67
fiirket Genel Kurullar›'na kat›lan pay sahipleri taraf›ndan yöneltilen çeflitli
sorular, oturum divan heyetince cevapland›r›lmaktad›r.
Genel Kurul toplant›s›n›n sonunda dilekler ve temennilere yer verilmektedir.
Bu kapsamda toplant›ya kat›lan pay sahiplerinin vermifl oldu¤u öneriler
toplant› divan›nca de¤erlendirilerek, Genel Kurul'un onay›na göre
sonuçland›r›lmaktad›r.
Birleflme, bölünme, önemli tutarda mal varl›¤› sat›m›, al›m›, kiralanmas›
gibi önemli nitelikteki kararlar›n Genel Kurul taraf›ndan al›nmas› konusunda
fiirket Ana Sözleflmesi'nde ayr›ca bir hüküm bulunmamaktad›r. Ancak birleflme, bölünme, devir gibi hususlarda fiirket Yönetim Kurulu'nca karar
al›narak Genel Kurul'un onay›na sunulmaktad›r.
TTK genel hükümlerinde Genel Kurul görevleri tan›m›n›n yap›lm›fl olmas›
nedeniyle fiirket Ana Sözleflmesi'nde bu konular yer almamaktad›r.
Genel Kurul'a kat›l›m› kolaylaflt›rmak amac›yla gazete ilanlar› verilmekte
ve ortaklar›m›za taahhütlü ça¤r› mektuplar› gönderilmektedir.
Genel Kurul Toplant› Tutanaklar› Ticaret Sicili'nde ve fiirket merkezinde pay
sahiplerinin incelemesine aç›k tutulmaktad›r.
5- Oy Haklar› ve Az›nl›k Haklar›
fiirket Genel Kurul Toplant›lar›'nda hissedarlar›n oy haklar›nda herhangi bir
imtiyaz bulunmamaktad›r. Ancak fiirket Ana Sözleflmesi'nin 13. ve 22.
maddeleri gere¤i, imtiyazl› pay sahiplerinin Yönetim ve Denetim Kurulu
seçimlerinde aday gösterme imtiyaz› mevcuttur.
fiirketimiz'de karfl›l›kl› ifltirak içinde olan ve hakimiyet iliflkisini getiren bir
ortakl›k mevcut de¤ildir.
Az›nl›k paylar› flirket yönetiminde temsil edilmemekte ve birikimli oy
kullanma yöntemine yer verilmemektedir.
Starting from 15 days before the General Assembly meeting, the related
financial statements and reports are made available in the Company head
offices for inspection by the shareholders. In addition the Balance Sheet
and the Profit and Loss Statement of the relevant period are attached to
the letters of invitation sent to the shareholders by registered mail.
Various questions asked by the shareholders in the General Assembly
meetings are answered by the meeting council.
The last item of the General Assembly meeting agenda is to hear the wishes
and questions. These are evaluated by the meeting council and responded
to at the discretion of the General Assembly of Shareholders.
The Articles of Association of the Company does not contain any separate
clause about the major decisions of the General Assembly of Shareholders
with regard to the merger, separation, purchase, sale or lease of assets of
a substantial value. However, decisions on issues such as merger, and
transfer are taken by the Board of Directors and presented for the approval
of the General Assembly of Shareholders.
As the duties and functions of the General Assembly of Shareholders are
already defined in the general provisions of the Turkish Commercial Code,
the Company's Articles of Association does not deal with these issues.
For the sake of facilitating the participation in the General Assembly
meetings, advertisements are published in newspapers and letters of
invitation are sent by registered mail to our shareholders.
The minutes of the General Assembly meetings are made available in both
the Trade Registry and the Company head offices for inspection by
shareholders. Furthermore, the minutes of the General Assembly meeting
relating to the 2004 accounting period have been publicized in electronic
medium as part of the Public Information and Automation Project.
5- Voting Rights and Minority Rights
6- Kâr Da¤›t›m Politikas› ve Kâr Da¤›t›m Zaman›
fiirket'in kâr›na kat›l›m konusunda Ana Sözleflme gere¤i herhangi bir imtiyaz
bulunmamaktad›r.
fiirket Ana Sözleflmesi'nin 40. maddesinde kâr da¤›t›m› politikas› Türk Ticaret
Kanunu'nun ilgili hükümlerine uygun olarak düzenlenmifl olup, prensip
olarak TTK ve SPK'n›n ilgili tebli¤lerine uygun olarak dönem kâr›ndan geçmifl
No shareholders hold any privileges in voting rights in the General Assembly
meetings of the Company. However, in accordance with Articles 13 and 22
of the Articles of Association, the Privileged Shareholders hold privilege of
nomination in elections for the Board of Directors and the Board of Auditors.
There is no partnership in the Company that results in reciprocal and
dominant ownership
68
dönemlerin zararlar›n›n mahsubundan sonra da¤›t›labilecek kâr oluflmas›
durumunda SPK ve TTK hükümleri çerçevesinde da¤›t›labilecek kâr rakam›n›n
alt›nda kalmamak üzere Yönetim Kurulu'nca Genel Kurul'un onay›na
sunulmakta ve da¤›t›m yasal süreler içerisinde tamamlanmaktad›r.
Minority shares are not represented in the Company management, and
cumulative voting rights are not allowed.
Bölgesel ve entegre bir enerji flirketi olma hedefindeki Turcas, yeni kurumsal
imaj›, hedefleri ve vizyonuyla, istikrarl› büyüme, devaml› kâr etme, düzenli
kâr pay› da¤›tma ve flirket de¤erini yükselterek mevcut ve potansiyel tüm
yat›r›mc›lar›n› memnun etmeyi hedeflemektedir.
According to our Articles of Association, there is no preference in the
distribution and allocation of the Company profit.
7- Paylar›n Devri
fiirket Ana Sözleflmesi'nin 7. maddesinde fiirket'in nama yaz›l› A Grubu hisse
senetlerinin devrinin fiirket'e karfl› geçerli olmas› için "Beyaz Ciro" ile yap›lan
devir ve temliklere Yönetim Kurulu peflinen muvafakat eder ve Yönetim ile
Denetim Kurulu üyeliklerine aday göstermekte imtiyaz sahibi olan B ve C
Grubu hisselerinin devrinin fiirket'e karfl› geçerli olmas› için Yönetim Kurulu'nun
muvafakat› flartt›r hükümleri yer almaktad›r.
Buna göre A grubu hisselerin devrindeki k›s›tlama Yönetim Kurulu'nun
peflinen muvafakat› ile kald›r›lm›flt›r. Ancak B ve C grubu hisselerin devrinde
B ve C grubu hisse sahipleri devir anlaflmas› koflullar›na uymak zorundad›rlar.
6- Profit Distribution Policy and time of Profit Distribution
Article 40 of the Articles of Association regulates the profit distribution
policy, in accordance with the relevant provisions of the Turkish Commercial
Code (TCC). In accordance with the provisions of the TCC and the notifications
of the Capital Market Board (CMB), the distributable profit remaining after
deduction of losses of previous years from any profit of current period
which shall not be less than the distributable profit amount in accordance
with the provisions of CMB and TTC, is distributed to the shareholders upon
approval of the profit distribution motion of the Board of Directors by the
General Assembly of Shareholders. The distribution is completed within the
legal periods of time.
Turcas - with its vision, new corporate image and objective of becoming
a regional and integrated energy company - maintains its goals to grow
in a stable way, profit continuously, pay out dividends regularly, and to
satisfy its current and potential investors by increasing the company value.
7- Transfer of Shares
Article 7 of the Articles of Association stipulates that, transfer of the registered
shares in Group A is validated by the prior consent of the Board of Directors
and the Transfers and Assignments effected by "Simple Endorsement". For
the transfer of the shares in Groups B and C, holding the privilege of
nomination in elections for the Board of Directors and the Board of Auditors
of the Company, the prior consent of the Board of Directors is required.
In accordance with that article, the restriction on the transfer of the shares
in Group A has been eliminated by the prior consent of the Board of
Directors. However, the holders of shares in Groups B and C are obliged to
comply with the conditions in the case of transfer of shares in Groups B
and C.
69
BÖLÜM II - KAMUYU AYDINLATMA VE fiEFFAFLIK
PART II - PUBLIC DISCLOSURE AND TRANSPARENCY
8- fiirket Bilgilendirme Politikas›
8- Company Disclosure Policy
fiirketimiz'in bilgilendirme politikas› yaz›l› olarak düzenlenmemifltir. Ancak
genel prensipler itibariyle uygulamam›z flöyledir: Bas›na sektör ve fiirket
ile ilgili, Yönetim Kurulu Baflkan› ve sözleflmeli olarak dan›flmanl›k hizmeti
veren bir flirket taraf›ndan gerekti¤i durumlarda aç›klamalar yap›lmaktad›r.
Finans kurulufllar›ndan yöneltilen sorular Yönetim Kurulu'nca, pay sahiplerine
ise 2. madde de belirtti¤imiz kiflilerce sorular›n niteli¤ine göre cevap verilerek
bilgilendirme politikam›z yürütülmektedir.
The Company does not have a formal, written disclosure policy, but the
general principles and practices are as follows: Press statements about the
Company and the industry are, if and when required, issued by the Chairman,
the General Manager or by a contracted Public Relations Agency of the
Company. Questions asked by financial institutions are answered by the
Board of Directors, while questions asked by shareholders are answered
by the group as mentioned in section 2 above, as a part of our disclosure
policy.
fiirketimiz'in yaz›l› olmayan bu bilgilendirme politikas› flimdiye kadar herhangi
bir gereksinim duyulmad›¤› için yaz›l› hale getirilerek kamuya duyurulmam›flt›r.
fiirketimiz'in bilgilendirme politikas›n›n yürütülmesinden Yönetim Kurulu
Baflkan› Erdal Aksoy ve Yönetim Kurulu Üyesi Saffet Batu Aksoy sorumludur.
9- Özel Durum Aç›klamalar›
2006 y›l› içerisinde SPK tebli¤leri uyar›nca 63 adet Özel Durum Aç›klamas›
zaman›nda yap›lm›flt›r ve bunlarla ilgili SPK veya ‹MKB taraf›ndan talep
edilen ek aç›klamalar 4 adettir. fiirketimiz'in hisseleri herhangi bir yurtd›fl›
borsas›na kote de¤ildir.
This disclosure policy has not been formally written nor made public, as no
need has yet arisen.
It is the responsibility of the Chairman Mr. Erdal Aksoy and the Director Mr.
Saffet Batu Aksoy to manage this disclosure activity.
9- Special Event Disclosures
During 2004, in accordance with the CMB Notifications, 63 Special Event
Disclosures were issued promptly. CMB and ISE requested 4 additional
clarifications regarding these disclosures. The shares of the Company are
not quoted on any foreign stock exchange.
10- fiirket ‹nternet Sitesi ve ‹çeri¤i
10- Company Internet Web Site and Its Contents
fiirketimiz'in ‹nternet sitesi adresi www.turcas.com.tr'dir.
The Company's web site is www.turcas.com.tr
‹nternet sitemizde SPK Kurumsal Yönetim ‹lkeleri II. Bölüm madde 1.11.5 te
listelenen afla¤›daki bilgiler bulunmaktad›r:
The Internet web site contains the following information as listed in Article
1.11.5, Part II of the CMB Corporate Governance Principles:
-
Ticaret Sicil Bilgileri
-
Trade Registry Information
-
Ana Sözleflme
-
Articles of Association
-
Son durum itibariyle Yönetim Kurulu Üyeleri
-
The current members of the Board of Directors
-
Ortakl›k Yap›s›
-
Ownership Profile
-
30.03.2000 ile 31.12.2006 dönemleri aras›ndaki Denetim Raporlar›
-
Audit Reports issued from 30.03.2000 to 31.12.2006
-
2000-2006 y›llar› aras›ndaki Faaliyet Raporlar›
-
Annual Reports from 2000 to 2006
-
Genel Kurul Bilgileri
-
General Assembly Information
-
Kurumsal Yönetim ‹lkeleri
-
Corporate Governance Principles
70
11- Gerçek Kifli Nihai Hâkim Pay Sahibi/Sahiplerinin Aç›klanmas›
fiirket'in Gerçek Kifli Nihai Pay Sahibi ortaklar› ve bunlara iliflkin hisse
de¤ifliklikleri, SPK tebli¤leri uyar›nca Özel Durum Aç›klama Formu, Faaliyet
Raporu ve üçer ayl›k mali tablo dipnotlar›nda aç›klanmaktad›r.
12- ‹çeriden Ö¤renebilecek Durumda Olan Kiflilerin Kamuya Duyurulmas›
‹çeriden ö¤renebilecek durumda olan Yönetim Kurulu Üyeleri'nin, fiirket üst
düzey Yöneticileri'nin ve fiirket Müdürleri'nin isimleri y›ll›k faaliyet raporunda
afla¤›daki gibi halka duyuruluyor olmas› nedeniyle ayr›ca bir aç›klama
yap›lmam›flt›r:
11- Disclosure of Real Person(s) Ultimate Controlling Individual
Shareholder(s)
The Company's Real Person Ultimate Controlling Individual Shareholders
and the relevant share transfers are, in conformity to the CMB notifications,
disclosed by a Special Event Disclosure Form, Annual Report and in the
footnotes of the quarterly financial statements.
12- Disclosure of Potential Insider Traders
As the names of the Directors, Senior Executives and Managers of the
Company who are potential insider traders are already disclosed to the
public in the Annual Report, and as listed below, no separate disclosure
relating to them has been issued.
Erdal Aksoy
Yönetim Kurulu Baflkan›
Y›lmaz Tecmen
Yönetim Kurulu Baflkan Vekili
Erdal Aksoy
Chairman of the Board
S. Batu Aksoy
Yönetim Kurulu Üyesi
Y›lmaz Tecmen
Vice Chairman of the Board
Banu Aksoy Tarakç›o¤lu
Yönetim Kurulu Üyesi
S.Batu Aksoy
Member of the Board
Bülent Çorapç›
Yönetim Kurulu Üyesi
Banu Aksoy Tarakç›o¤lu
Member of the Board
M. ‹lhan Nebio¤lu
Yönetim Kurulu Üyesi
Bülent Çorapç›
Member of the Board
Süreyya Serdengeçti
Yönetim Kurulu Üyesi
M. ‹lhan Nebio¤lu
Member of the Board
Sadettin ‹mrek
Hukuk Müflaviri
Süreyya Serdengeçti
Member of the Board
Cabbar Y›lmaz
Merkez Ofis Müdürü
Sadettin ‹mrek
Legal Counsel
Cabbar Y›lmaz
Head Office Manager
71
BÖLÜM III - MENFAAT SAH‹PLER‹
PART III - STAKEHOLDERS
13- Menfaat Sahiplerinin Bilgilendirilmesi
13- Stakeholders Disclosure
fiirket ile ilgili menfaat sahiplerine Y›ll›k Ola¤an Genel Kurul toplant›lar›nda
kendilerini ilgilendiren hususlarda gerekli bilgiler verilmektedir. Ayr›ca sözel
olarak yap›lan taleplere de yetkililerce gerekli aç›klamalar yap›lmakta,
fiirketimiz'le ilgili di¤er bilgiler, faaliyet raporlar› ve denetim raporlar›
fiirketimiz'in ‹nternet sitesinde yer almaktad›r.
The stakeholders of the Company are duly informed about the relevant
issues in the annual ordinary meetings of the General Assembly of
Shareholders. In addition, verbal questions are answered by the Company
officers. Furthermore, the special event disclosures issued pursuant to the
CMB notifications, as well as other information, annual reports and audit
reports of our Company, are published in our Company's internet web site.
14- Menfaat Sahiplerinin Yönetime Kat›l›m›
14- Participation of Stakeholders in the Company Management
fiirket çal›flanlar›n›n ve di¤er menfaat sahiplerinin yönetime kat›l›m› konusunda
herhangi bir uygulama mevcut de¤ildir.
Non-managerial company employees and other stakeholders do not have
significant participation in the management of the Company.
15- ‹nsan Kaynaklar› Politikas›
15- Human Resources Policy
fiirket'in insan kaynaklar› politikas›n›n esaslar› afla¤›daki gibidir:
The Main principles of the Company's human resources policy are as follows;
-
To select and recruit only those who have the required qualifications
for the vacant position.
-
To create and provide appropriate training and career opportunities
compatible with the needs of the Company and the skills of each
employee;
Personeli baflar›ya motive etmek; personelin bilgi ve deneyimlerini
art›rmas›na olanak sa¤lamak ve personeli baflar›lar› do¤rultusunda
ödüllendirmek;
-
To motivate employees towards success, to enable personnel to
enhance and increase their knowledge and experiences and to
reward personnel for their achievements;
-
Sa¤l›kl› bir çal›flma ortam› yaratmak;
-
To create and maintain a healthy working environment;
-
Tüm personele sayg› göstermek ve personelin hak ve ç›karlar›n›
korumak;
-
To treat all personnel with respect and to protect their rights and
benefits;
-
Personele, benzer strateji, ilke ve ihtiyaçlara sahip flirketler ile
rekabet edebilecek yararlar/imkanlar paketi sa¤lamak;
-
To provide personnel with a package of benefits and opportunities
competitive with companies with similar strategy, principles and
requirements;
-
Yapt›klar› ifli ilgilendiren veya etkileyen bütün olay ve geliflmeler
konusunda personeli bilgilendirmek.
-
To keep personnel informed about all developments and events
which concern and affect their jobs.
-
‹lgili ifl ve pozisyon için öngörülen niteliklere sahip kiflileri seçmek
ve ifle almak;
-
Her personelin becerilerine ve fiirket'in ihtiyaçlar›na uygun e¤itim
ve kariyer f›rsatlar› yaratmak ve sunmak;
-
72
fiirket'in, yukar›da bahsedilen insan kaynaklar› politikalar›n›n oluflturulmas›
ve uygulanmas› Mali Bölüm taraf›ndan yürütülmektedir.
Formulation and implementation of the above mentioned policies is currently
executed by the Finance Division.
Çal›flanlardan herhangi bir ayr›mc›l›k flikayeti al›nmam›flt›r.
No complaint of discrimination has been received from the employees.
16- Müflteri ve Tedarikçilerle ‹liflkiler Hakk›nda Bilgiler
16- Information on Relations with Customers and Suppliers
fiirketimiz, bayi a¤›n› bölgelere ay›r›p her bölgeye yeterli say›da eleman
görevlendirerek bayilerimizin müflteri memnuniyetini ön planda tutmaktad›r.
Bayilere ve özellikle nihai tüketiciye hizmet veren istasyon servis personeline
her türlü e¤itimi veren bir ekip mevcuttur. ‹stasyonlar› denetleyen gezici
bir kalite kontrol ekibi oluflturulmufltur. Mal ve hizmet kalitesi ve standard›n›
koruyabilmek için marker uygulamas› yap›lmaktad›r. Standartlara ayk›r›
ürün tespitinde ilgililer hakk›nda yasal ifllemleri de kapsayan yapt›r›mlar
uygulanmaktad›r.
The Company gives priority to customer relations and customer satisfaction.
The dealer network is divided into regions and sufficient number of trained
employees is assigned to each region. This team provides a variety of
training to station personnel who serve the final consumers. In addition,
a mobile quality control team has been formed to supervise and audit the
stations and Product Marker is used for the protection of standards and
quality of products. In case of detection of an out-of-standard product, the
relevant persons are subject to sanctions which may include legal prosecution.
fiirket politikas› olarak etkin bir planlama ile bayilerimize ikmal garantisi
verilmektedir.
Through efficient and effective planning, a guarantee of supply is given to
our dealers.
fiirketimizin akaryak›t da¤›t›m›, madeni ya¤lar ve ticari sat›fllarla ilgili
faaliyetlerini The Shell Co. Of Turkey Ltd. firmas› ile ortak kurmufl olduklar›
Shell & Turcas Petrol A.fi. (STAfi) bünyesine 1 Temmuz 2006 tarihinden
itibaren devretmifl olmas›ndan dolay›, bu tarihten itibaren bu maddede
belirtilen tüm ifllemler ifltirakimiz STAfi taraf›ndan dünya standartlar›nda
gerçeklefltirilmektedir.
Since Turcas transferred its fuel retail, lubricants and commercial sales
businesses under Shell & Turcas Petrol A.fi. (STAfi), a joint venture company
established with The Shell Co. of Turkey Ltd., operational as of July 1, 2006,
all of the activities mentioned in this article are undertaken by our subsidiary
STAfi at global standards.
17- Social Responsibility
17- Sosyal Sorumluluk
fiirket Yönetim Kurulu taraf›ndan 2001 y›l›nda Emniyet, Sa¤l›k ve Çevre
(ESÇ) politikas› onaylanm›fl ve uygulanmaya bafllanm›flt›r. Bu politika
do¤rultusunda çal›flanlar bütün kazalar›n önlenebilir oldu¤u felsefesiyle
e¤itilmektedir. fiirket ile çal›flan servis sa¤lay›c›lar ve müteahhitlere de bu
politika tan›t›lmakta ve politikaya uygun olarak çal›flmalar› flart koflulmaktad›r.
Dönem içinde çevreye verilen zararlardan dolay› fiirket aleyhine aç›lan dava
yoktur. Faaliyetlere iliflkin çevresel etki de¤erlendirme raporlar›
bulunmamaktad›r.
In 2001, a Safety, Health and Environment (SHE) Policy was approved and
put into effect by the Company's Board of Directors. Under this policy, the
employees are trained on the basis of the philosophy and motto that 'all
accidents are avoidable'. This policy is also introduced to service providers
and contractors working for and with the Company, and they are required
to operate in accordance with this policy.
During the current period, no lawsuit or investigation has been started
against the Company due to damage to the environment. There are no
environmental impact assessment reports in respect of the activities and
operations of the Company.
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18- Yönetim Kurulu'nun Yap›s›, Oluflumu ve Ba¤›ms›z Üyeler
fiirket Yönetim Kurulu 7 üyeden oluflur ve Genel Kurul taraf›ndan 3 y›l için
seçilir. Yönetim Kurulu'nun 3 üyesi "B" grubu hissedarlar›n gösterece¤i
adaylardan, 2 üyesi "C" grubu hissedarlar›n gösterece¤i adaylardan, 2 üyesi
de "A" grubu hissedarlar›n gösterece¤i adaylardan Genel Kurul'un onay› ile
seçilir.
Yönetim Kurulu'nun ‹crac› Üyeleri:
Erdal Aksoy
Yönetim Kurulu Baflkan›
Y›lmaz Tecmen
Yönetim Kurulu Baflkan Vekili
S. Batu Aksoy
Yönetim Kurulu Üyesi
Banu Aksoy Tarakç›o¤lu
Yönetim Kurulu Üyesi
Yönetim Kurulu'nun ‹crac› Olmayan Üyeleri:
Bülent Çorapç›
Yönetim Kurulu Üyesi
M. ‹lhan Nebio¤lu
Yönetim Kurulu Üyesi
N. Süreyya Serdengeçti
Yönetim Kurulu Üyesi
Yönetim Kurulu'nda ba¤›ms›z üye bulunmamaktad›r. fiirketimiz'in yap›s›
gere¤i Yönetim Kurulu'nun oluflturulmas›nda ba¤›ms›z üye bulunmas›
mümkün de¤ildir.
Her y›l yap›lan Ola¤an Genel Kurul toplant›s›nda TTK'n›n 334 ve 335.
maddeleri gere¤i Genel Kurul'ca, Yönetim Kurulu Üyeleri'nin fiirket d›fl›nda
baflka görev almalar›na izin verilmektedir. fiirket Ana Sözleflmesi'nde de bu
konuda s›n›rlay›c› bir kural bulunmamaktad›r. Böyle bir s›n›rlamaya ihtiyaç
duyulmamas› nedeniyle s›n›rlama gündeme gelmemifltir.
18- Composition and Structure of the Board of Directors, and Independent
Members
The Company's Board of Directors is composed of 7 members who are
elected by the General Assembly of Shareholders for a term of office of 3
years. 3 members of the Board of Directors are elected by the approval of
General Assembly of Shareholders from among nominees to be nominated
by the shareholders in Group "B", and 2 members are elected from among
nominees to be nominated by the shareholders in Group "C", and 2 members
are elected from among nominees to be nominated by the shareholders
in Group "A".
Executive Members of the Board:
Erdal Aksoy
Chairman of the Board
Y›lmaz Tecmen
Vice Chairman of the Board
S.Batu Aksoy
Member of the Board
Banu Aksoy Tarakç›o¤lu
Member of the Board
Non-Executive Members of the Board:
Bülent Çorapç›
Member of the Board
M. ‹lhan Nebio¤lu
Member of the Board
N.Süreyya Serdengeçti
Member of the Board
As all Directors are nominated by the different shareholder groups, it is not
possible for there to be independent members on the Board of Directors.
In the annual ordinary meeting of the General Assembly of Shareholders,
the General Assembly of Shareholders authorizes the Directors to deal with
the business activities as specified in Articles 334 and 335 of Turkish
Commercial Code. There is no restrictive rule or clause in the Company's
Articles of Association. Such a restriction has not yet been needed or
required.
74
19- Yönetim Kurulu Üyeleri'nin Nitelikleri
19- Qualifications of the Members of the Board of Directors
fiirket'in Yönetim Kurulu üye seçiminde aranan asgari nitelikler SPK Kurumsal
Yönetim ‹lkeleri'nde yer alan niteliklerle aynen örtüflmekte olup bu ilkeler
fiirket Ana Sözleflmesi'nde yer almamaktad›r.
The minimum qualifications sought for in the election of members to the
Board of Directors of the Company are the same as the qualifications
enumerated in the CMB Corporate Governance Principles. These principles
are not included in the Company's Articles of Association.
Kurumsal Yönetim ‹keleri'nde söz edilen e¤itim çal›flmalar›na gerek
bulunmamaktad›r.
There is no need for the training programs mentioned in the Corporate
Governance Principles.
20- fiirket'in Vizyonu, De¤erleri, Misyonu ve Stratejik Hedefleri
20- Vision, Values, Mission and Strategic Targets of the Company
fiirketimizin vizyonu; 70 y›ll›k birikimle, enerji arama, üretim ve ticaretine
dönük ulusal ve uluslararas› yat›r›mlara odaklanan, Türkiye'nin ve içinde
bulundu¤u co¤rafyada en dinamik ve en verimli “Bölgesel ve Entegre Bir
Enerji fiirketi” olmak, müflterilerimize en kaliteli ürün ve hizmeti, en yüksek
güvenlik, çevre koruma ve etik davran›fl standartlar›nda sunma taahhüdüne
olan ba¤l›l›¤›m›z› her zaman oldu¤u gibi sürdürmektir.
Turcas, kuruluflundan bu yana temel ilkelerinden ödün vermeden kendini
sürekli yenilemifltir. “Farkl› hizmet" anlay›fl›yla biçimlenen faaliyetleriyle
toplumsal alanda hizmet vermeyi hedeflemifl ve bunu hayata geçirmifltir.
1992 y›l›nda kullanmaya bafllad›¤› performans art›r›c› “Yeni Nesil Kat›klar”,
“Gezici E¤itim Okulu”, istasyonlar› denetleyen “Akaryak›t Kalite Kontrol
Filosu”, YKB Worldcard iflbirli¤iyle gerçeklefltirilen “Sad›k Müflteri Program›”,
“Ça¤dafl ‹stasyon Marketçili¤i” gibi çeflitli akaryak›t d›fl› aktiviteler, flirket
filolar› için “Akaryak›t Yönetim Sistemi” (AYS) ve son olarak da 2001 y›l›nda
bayileriyle birlikte oluflturdu¤u ve sektöre çok fley kazand›ran “Turcas Bayi
Konseyi” bu at›l›mlar aras›nda yerlerini alm›fllard›r.
Turcas'›n misyonu yukar›da benimsemifl oldu¤u de¤erlerden, müflteri odakl›
yaklafl›m›ndan ve hizmet kalitesinden ödün vermeksizin, at›l›mc› ifl yapma
anlay›fl›n› kesintiye u¤ratmadan, çal›flanlar›n›n e¤itimini ve geliflimini takip
ederek, Türkiye'nin miras›n› ve de¤erlerini koruyarak, flimdiye kadar oldu¤u
gibi ileride de h›zla pekiflen baflar›s›n›n devaml›l›¤›n› sa¤lamakt›r.
Yönetim Kurulu, yöneticiler taraf›ndan ertesi y›l için oluflturulan stratejik
hedefleri sene sonlar›nda yöneticilerle tart›fl›p onaylamaktad›r. Hedefler ve
gerçekleflmeler ay sonlar›nda geçmifl ve piyasa karfl›laflt›rmal› faaliyet
raporlar› üzerinden yöneticilerle birlikte gözden geçirilmektedir.
fiirketimiz'in vizyonu ve misyonu her y›l yeniden haz›rlanan y›ll›k faaliyet
rapolar›nda ve web sitesinde de yer almaktad›r.
With our 70 years of experience, Turcas' vision is to become the most
dynamic and efficient “Regional and Integrated Energy Company” in Turkey
and its surrounding geographic region and focuse on national and international
investments related to the exploration, production, distribution and trading
of energy. Maintain our commitment to deliver high quality products and
services to our customers through promoting and implementing the safety,
ethical and environmental standards we have set.
Since its establishment, Turcas has continuously developed and improved
itself without making concession on its basic principles. The Company has
always tried and succeeded to deliver services in social fields through its
activities shaped with the “Exceptional Service” approach. Performance
raiser “New Generation Additives” which started to be used in 1992, some
non-petroleum activities such as “Mobile Training School”, “Fuel Quality
Control Fleet” inspecting the stations, “Loyal Customer Program” realized
in cooperation with the YKB Worldcard, “Contemporary Station Markets”,
“Fuel Management System” (AYS) for company fleets, and finally in 2001,
the “Turcas Dealer Council” formed together with our dealers have taken
part in Turcas' innovations and activities.
Turcas' mission is to sustain and solidify its strengthened success in the
future without making compromises on our above mentioned core values,
customer-oriented approach and service quality while maintaining our
entrepreneurial business approach, monitoring the trainings and improvement
of our employees, and protecting the heritage and values of our country.
The strategic goals and targets proposed by the managers for the next year
are, before the end of the prior year, discussed and approved by the Board
of Directors. Both the targets and the actual results are, at the end of each
month, reviewed by the Board of Directors and the Company managers in
the light of past performance and market comparative reports.
75
21- Risk Yönetim ve ‹ç Kontrol Mekanizmas›
Yönetim Kurulu Üyeleri aras›ndan seçilen iki üyeden Denetim Komitesi
oluflturulmufl bulunmaktad›r. fiirketimizde risk yönetimi ile ilgili çal›flan bir
grup bulunmamaktad›r.
Her y›l birimlerin ve faaliyetlerin risk de¤erlemelerine göre haz›rlanan
raporlar ilgili birimlerle paylafl›larak eylem planlar› ve taahhütleri al›nmakta
ve bu çal›flmalar Denetim Komitesi'nce takip edilmektedir.
22- Yönetim Kurulu Üyeleri ile Yöneticilerin Yetki ve Sorumluluklar›
fiirket Ana Sözleflmesi'nde Yönetim Kurulu Üyeleri ve yöneticilerin yetki ve
sorumluluklar› aç›kça belirlenmifltir.
23- Yönetim Kurulu'nun Faaliyet Esaslar›
Yönetim Kurulu toplant›lar›n›n gündem maddeleri oluflan güncel konulara
göre belirlenmektedir. Yönetim Kurulu 2006 y›l› içerisinde 30 kez toplanarak
karar alm›flt›r. Yönetim Kurulu Üyeleri toplant›ya en uygun iletiflim araçlar›
kullan›larak ve toplant›ya kat›l›m› sa¤layacak makul sürelerde davet
edilmektedir. Sekretarya fonksiyonlar›n› Yönetim Kurulu kendi içinde
dönüflümlü olarak yürütmektedir.
Yönetim Kurulu kararlar›n›n toplant›ya kat›lanlar›n oy çoklu¤u veya oy birli¤i
ile al›n›yor olmas› nedeniyle karfl› oy bahis konusu olmam›flt›r. Ancak TTK
ve fiirket Ana Sözleflmesi'nin 22. maddesi uyar›nca Y›ll›k Ola¤an Genel
Kurullar'da B ve C Grubu hissedarlar›n belirledi¤i adaylar aras›ndan Genel
Kurul'un onay› ile seçilen iki ba¤›ms›z denetçi en az 3 kez olmak üzere
Yönetim Kurulu toplant›lar›na kat›lmak ve fiirket kay›tlar›n›n yasalara ve
genel kabul görmüfl muhasebe ilkelerine uygunlu¤unu inceleme yetki ve
sorumlulu¤undad›r.
Yönetim Kurulu kararlar›nda farkl› bir görüfl olmamas› nedeniyle kamuya
aç›klanmas› gereken bir durum oluflmamaktad›r. SPK Kurumsal Yönetim
‹lkeleri'nin IV. Bölüm 2.17.4 maddesinde yer alan konularda Yönetim Kurulu
toplant›lar›na fiilen kat›l›m sa¤lanmaktad›r. Yönetim Kurulu toplant›lar›nda
üyelerce yöneltilen sorular, müzakere mahiyetinde olmas› nedeniyle karar
zab›tlar›na geçirilmemektedir. fiirket Ana Sözleflmesi, Yönetim Kurulu'nda
belirli baz› konularda karar al›nmas› için "C" Grubu hissedarlar›n temsilcilerinin
olumlu oyunu flart koflmaktad›r.
The Company's vision and mission are published in the yearly renewed
annual reports as well as on our website.
21- Risk Management and Internal Control Mechanism
The Company has established an Audit Committee comprised of two
members elected from the Board of Directors. There is no specific group
in charge of financial risk management in the Company.
Every year, depending on the risk assessments of divisions and activities,
reports are prepared and shared with the relevant divisions, and action
plans and commitments are made. The whole process is monitored by the
Audit Committee.
22- Authorities and Responsibilities of Directors and Managers
The authorities and responsibilities of the Board of Directors and the
managers are clearly specified and outlined in the Company's Articles of
Association.
23- Operating Principles of the Board of Directors
The agenda of meetings of the Board of Directors is determined according
to current issues and to certain periodic events. During 2006, the Board of
Directors met 30 times and took the required decisions. Directors are called
for the Board meetings by using the most convenient means of
communication and at a reasonable time in advance so as to ensure their
participation. Secretarial duties are conducted, in rotation, within the Board
of Directors.
Given that the Board decisions are taken unanimously or by majority vote
of the Directors present in the meeting, no dissenting vote has been used.
However, pursuant to Article 22 of the Company's Articles of Association
and provisions of the Turkish Commercial Code, two independent auditors,
elected by the General Assembly of Shareholders in its annual ordinary
meetings from among nominees nominated by the shareholders in Groups
B and C are authorized and liable to attend at least 3 meetings of the Board
of Directors and must check compliance of the Company records with the
pertinent applicable laws and the generally accepted accounting principles.
Due to the lack of a dissenting opinion in the decisions of the Board of
Directors, there is no event required to be disclosed to the public. All
76
24- fiirket'le Muamele Yapma ve Rekabet Yasa¤›
fiirket Yönetim Kurulu Üyeleri'ne her y›l yap›lan Ola¤an Genel Kurullar'da
Genel Kurul onay› ile TTK'n›n 334 -335. maddelerinde belirtilen konular
dahilinde ifllem yapma izni verilmekle beraber, flirket politikalar› ve baz›
anlaflmalar çerçevesinde fiirket Yönetim Kurulu Üyeleri'nin hiçbirisi fiirket'le
ifllem yapmamakta ve rekabet etmemektedir, dolay›s›yla herhangi bir ç›kar
çat›flmas› oluflmamaktad›r.
Directors personally attend the Board meetings with regard to the issues
enumerated in Article 2.17.4 of Part IV of the CMB Corporate Governance
Principles. Being only a matter of discussion, the questions asked by the
Directors in the Board meetings are not written in the meeting records.
The Articles of Association of the Company requires affirmative vote of the
representatives of the shareholders in Group "C" on decisions relating to
certain issues.
24- Prohibition to Deal and Compete with the Company
25- Etik Kurallar
Yönetim Kurulu taraf›ndan 1 May›s 1997 tarihinde fiirket çal›flanlar› için '‹fl
Ahlak› Politikas›' yürürlü¤e konmufltur. Bu politika menfaat çat›flmalar›,
fiirket içinden bilgi, politik yard›mlar, muhasebe standartlar› ve
dokümantasyon, al›nan hediyeler gibi konularda fiirket çal›flanlar›n›n uymas›
gereken kurallar› belirlemektedir. Bu politika çerçevesinde her y›l sonunda
tüm çal›flanlardan '‹fl Ahlak› Politikas› ve Yönetmeliklere Kiflisel Uyum' formu
ad› alt›nda yaz›l› bir beyan ve taahhüt al›nmaktad›r.
Although the Directors are permitted and authorized to deal with the
Company on certain issues by approval of the General Assembly of
Shareholders in its annual ordinary meetings, as specified in Articles 334
and 335 of the Turkish Commercial Code, none of the Directors enters into
deals nor competes with the Company in accordance with the Company
policies, and therefore, there are no conflicts of interests.
25- Ethical Rules
Henüz bir Kurumsal Yönetim Komitesi oluflturulmam›flt›r. Gelecekte kurumsal
yönetim ilke ve uygulamalar› gelifltikçe böyle bir komite oluflturulabilir.
The Board of Directors issued and put into effect a "Business Ethics Policy"
for the Company and its employees on 1 May 1997. This policy sets down
the rules to be complied with by the Company employees on issues such
as the conflicts of interests, insider trading, politic donations, accounting
standards and documentation, and gifts. As a requirement of this policy,
at the end of each year, all employees are required to give a written
statement and declaration in the "Business Ethics Policy and Procedures
Compliance Form".
Genel Müdür'e bir ‹cra Komitesi rehberlik etmekte olup, Yönetim Kurulu
yetkisi dahilindeki konular önce ‹cra Komitesi'nin görüflüne sunulmaktad›r.
The Company's Business Ethics Policy is within the knowledge of the
employees, but has not been disclosed to the public.
‹crac› Komitesi Üyeleri:
26- Number, Composition and Independence of Committees Formed
by the Board of Directors
fiirketimiz'in ‹fl Ahlak› Politikas› flirket çal›flanlar›n›n bilgisinde olmakla birlikte
kamuya aç›klanmam›flt›r.
26- Yönetim Kurulunda Oluflturulan Komitelerin Say›, Yap› ve Ba¤›ms›zl›¤›
Erdal Aksoy
Yönetim Kurulu Baflkan›
Y›lmaz Tecmen
Yönetim Kurulu Baflkan Vekili
S. Batu Aksoy
Yönetim Kurulu Üyesi
Banu Aksoy Tarakç›o¤lu
Yönetim Kurulu Üyesi
A Corporate Governance Committee has not yet been established. Such a
Committee may be established in the future as governance practices and
principles develop.
An Executive Committee provides guidance to the General Manager and
for matters falling within the authority of the Board such matters are first
reviewed by the Executive Committee.
77
Executive Committe Members:
Denetim Komitesi Üyeleri:
Bülent Çorapç›
Yönetim Kurulu Üyesi
Erdal Aksoy
Chairman of the Board
M. ‹lhan Nebio¤lu
Yönetim Kurulu Üyesi
Y›lmaz Tecmen
Vice Chairman of the Board
S.Batu Aksoy
Member of the Board
Banu Aksoy Tarakç›o¤lu
Member of the Board
Yönetim Kurulu Üyeleri'nden ikisi ayn› zamanda Denetim Komitesi Üyesi'dir.
Denetim Komitesi Üyeleri'nin icra görevleri yoktur ve baflka komitelerde
de görevli de¤illerdir. Denetim Komitesi üyeleri SPK'n›n belirlemifl oldu¤u
prensipler çerçevesinde belli bir prosedüre göre görevlerini sürdürmektedir.
Audit Committe Members:
Yönetim Kurulu Üyeleri birden fazla komitede yer almamaktad›rlar. Yönetim
Kurulu Üyeleri'nin belirli prensipler çerçevesinde çal›fl›yor olmalar› nedeniyle
herhangi bir ç›kar çat›flmas› meydana gelmemifltir.
27- Yönetim Kurulu'na Sa¤lanan Mali Haklar
fiirket Ana Sözleflmesi'nde, Yönetim Kurulu Baflkan› ve Üyeleri'ne Genel
Kurul'ca kararlaflt›r›lacak ayl›k, y›ll›k bir ödenek veya her toplant› için huzur
hakk› ödenebilir ifadesi yer almaktad›r. 2006 y›l› içerisinde Yönetim Kurulu
Üyeleri'ne bu kapsamda herhangi bir hak ve menfaat sa¤lanmam›fl ve ücret
ödemesi yap›lmam›flt›r.
Yönetim Kurulu Üyeleri'ne sa¤lanan baflka hak, menfaat ve performansa
dayal› ödüllendirme yöntemi mevcut de¤ildir.
fiirket taraf›ndan Yönetim Kurulu Üyelerine ve yöneticilere herhangi bir borç
verilmemekte, kredi kulland›r›lmamakta ve lehine kefalet gibi teminatlar
verilmemektedir.
Bülent Çorapç›
Member of the Board
M. ‹lhan Nebio¤lu
Member of the Board
Two of the Directors are at the same time members of the Audit Committee.
Members of the Audit Committee do not assume any executive function
and are not assigned in other committees. Members of the Audit Committee
carry out their duties according to a certain procedure within the principles
determined by the Capital Markets Board.
Directors are not assigned to more than one committee. As the Directors
work within the framework of certain rules and principles, no conflicts of
interests have emerged.
27- Remuneration of Directors
It is stated in the Articles of Association of the Company that a monthly or
yearly fee or remuneration per meeting, as will be decided at the General
Assembly of Shareholders, may be paid to the Chairman and Members of
the Board of Directors. However, during 2006, no such right or interest has
been conferred on and no such fee or remuneration has been paid to the
Directors.
There are no other rights, interests or performance-based rewards conferred
on the Directors.
The Company does not lend any money or loan to or stand as a surety for
or gives any guarantee in favor of the Directors and the managers.
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T
KONSOL‹DE MAL‹ TABLOLAR
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
CONSOLIDATED FINANCIAL STATEMENTS FOR THE
YEAR ENDED 31 DECEMBER 2006
80
BA⁄IMSIZ DENET‹M RAPORU
Turcas Petrol A.fi. Yönetim Kurulu'na
Turcas Petrol A.fi. (“fiirket”) ve ba¤l› ortakl›¤›n›n (hep birlikte “Topluluk”) 31 Aral›k 2006 tarihi itibariyle haz›rlanan ve ekte yer
alan konsolide bilançosunu, ayn› tarihte sona eren y›la ait konsolide gelir tablosunu, konsolide öz sermaye de¤iflim tablosunu ve
konsolide nakit ak›m tablosunu, önemli muhasebe politikalar›n›n özetini ve dipnotlar› denetlemifl bulunuyoruz.
Finansal Tablolarla ‹lgili Olarak Topluluk Yönetiminin Sorumlulu¤u
Topluluk yönetimi finansal tablolar›n Sermaye Piyasas› Kurulu'nca yay›mlanan finansal raporlama standartlar›na göre haz›rlanmas›
ve dürüst bir flekilde sunumundan sorumludur. Bu sorumluluk, finansal tablolar›n hata ve/veya hile ve usulsüzlükten kaynaklanan
önemli yanl›fll›klar içermeyecek biçimde haz›rlanarak, gerçe¤i dürüst bir flekilde yans›tmas›n› sa¤lamak amac›yla gerekli iç kontrol
sisteminin tasarlanmas›n›, uygulanmas›n› ve devam ettirilmesini, koflullar›n gerektirdi¤i muhasebe tahminlerinin yap›lmas›n› ve
uygun muhasebe politikalar›n›n seçilmesini içermektedir.
Ba¤›ms›z Denetim Kuruluflunun Sorumlulu¤u
Sorumlulu¤umuz, yapt›¤›m›z ba¤›ms›z denetime dayanarak bu finansal tablolar hakk›nda görüfl bildirmektir. Ba¤›ms›z denetimimiz,
Sermaye Piyasas› Kurulu'nca yay›mlanan ba¤›ms›z denetim standartlar›na uygun olarak gerçeklefltirilmifltir. Bu standartlar, etik
ilkelere uyulmas›n› ve ba¤›ms›z denetimin, finansal tablolar›n gerçe¤i do¤ru ve dürüst bir biçimde yans›t›p yans›tmad›¤› konusunda
makul bir güvenceyi sa¤lamak üzere planlanarak yürütülmesini gerektirmektedir.
Ba¤›ms›z denetimimiz, finansal tablolardaki tutarlar ve dipnotlar ile ilgili ba¤›ms›z denetim kan›t› toplamak amac›yla, ba¤›ms›z
denetim tekniklerinin kullan›lmas›n› içermektedir. Ba¤›ms›z denetim tekniklerinin seçimi, finansal tablolar›n hata ve/veya hileden
ve usulsüzlükten kaynaklan›p kaynaklanmad›¤› hususu da dahil olmak üzere önemli yanl›fll›k içerip içermedi¤ine dair risk
de¤erlendirmesini de kapsayacak flekilde, mesleki kanaatimize göre yap›lm›flt›r. Bu risk de¤erlendirmesinde, Toplulu¤un iç kontrol
sistemi göz önünde bulundurulmufltur. Ancak, amac›m›z iç kontrol sisteminin etkinli¤i hakk›nda görüfl vermek de¤il, ba¤›ms›z
denetim tekniklerini koflullara uygun olarak tasarlamak amac›yla, Topluluk yönetimi taraf›ndan haz›rlanan finansal tablolar ile iç
kontrol sistemi aras›ndaki iliflkiyi ortaya koymakt›r. Ba¤›ms›z denetimimiz, ayr›ca Topluluk yönetimi taraf›ndan benimsenen
muhasebe politikalar› ile yap›lan önemli muhasebe tahminlerinin ve finansal tablolar›n bir bütün olarak sunumunun uygunlu¤unun
de¤erlendirilmesini içermektedir.
Ba¤›ms›z denetim s›ras›nda temin etti¤imiz ba¤›ms›z denetim kan›tlar›n›n, görüflümüzün oluflturulmas›na yeterli ve uygun bir
dayanak oluflturdu¤una inan›yoruz.
81
INDEPENDENT AUDITORS' REPORT
To The Board of Directors of Turcas Petrol A.fi.
We have audited the accompanying financial statements of Turcas Petrol A.fi. (the “Company”) and its subsidiary (together
“Group”), which comprise the consolidated balance sheet as at 31 December 2006, and the consolidated statement of income,
consolidated statement of shareholders' equity and consolidated statement of cash flow for the year then ended, and a summary
of significant accounting policies and other explanatory notes.
Management's Responsibility for the Financial Statements
The Group's Management is responsible for the preparation and fair presentation of these financial statements in accordance with
the Capital Markets Board (“CMB”) standards. This responsibility includes: designing, implementing and maintaining internal control
relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due
to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable
in the circumstances.
Auditor's Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance
with standards on auditing published by the CMB. Those standards require that we comply with ethical requirements and plan
and perform the audit to obtain reasonable assurance whether the financial statements are free of material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements.
The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of
the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control
relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal
control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting
estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
82
Görüfl
Görüflümüze göre, iliflikteki konsolide finansal tablolar, Turcas Petrol A.fi. ve ba¤l› ortakl›¤›n›n 31 Aral›k 2006 tarihi itibariyle finansal
durumunu, ayn› tarihte sona eren y›la ait finansal performans›n› ve nakit ak›mlar›n›, Sermaye Piyasas› Kurulu'nca yay›mlanan
finansal raporlama standartlar› çerçevesinde do¤ru ve dürüst bir biçimde yans›tmaktad›r.
Görüflümüzü etkilememekle beraber afla¤›daki hususlara dikkat çekilmesi gerekli görülmüfltür:
Not 31'de detayl› olarak aç›kland›¤› üzere, 31 A¤ustos 2006 tarihinde Enerji Piyasas› Düzenleme Kurulu, lisanss›z bayilere yap›lan
ikmallere iliflkin olarak Turcas Petrol A.fi.'ye 113.599.140 YTL tutar›nda idari para cezas› vermifltir. fiirket söz konusu ödeme
emirlerinin iptali ve yürütmenin durdurulmas› talebiyle davalar açm›flt›r. Dan›fltay 15. Dairesi 17 Kas›m 2006 tarihinde 113.599.140
YTL'lik idari para cezas›n›n 714.460 YTL'lik k›sm›n›n yürütmesini durdurmufl, geri kalan 112.884.680 YTL için yürütmeyi durdurma
istemini reddetmifltir. Dan›fltay ‹dari Dava Daireleri Kurulu'na yürütmenin durdurulmas› istemiyle yap›lan itiraz neticesinde, 25 Ocak
2007 tarihinde cezalar›n yürütmesi durdurulmufltur. fiirket cezalar›n ilk taksit tutar›n› ve ikinci taksit tutar›n› (toplam 2.258.000
YTL) ödemifltir ve daha sonraki taksitlerin ödemesini, yürütmeyi durdurma karar›na istinaden yapmam›flt›r. Yürütmenin durdurulmas›na
iliflkin gerekçeli kararlar 28 fiubat 2007 tarihinde fiirket'e tebli¤ edilmifltir. Konu ile ilgili hukuki süreç ve davalar ile ilgili nihai sonuç
üzerindeki belirsizlik rapor tarihi itibariyle devam etmektedir. Bu sebeple, yap›lan ödemeler haricinde ekli mali tablolarda konu
ile ilgili herhangi bir karfl›l›k ayr›lmam›flt›r.
Not 16'da detayl› olarak aç›kland›¤› üzere, The Shell Company of Turkey Ltd. ve Turcas Petrol A.fi. varl›klar›n›n bir k›sm›n› birlefltirerek
1 Temmuz 2006 tarihinde Shell&Turcas Petrol A.fi.'yi kurmufltur. Turcas Petrol A.fi. yeni kurulan flirketin %30'una sahiptir. Turcas
Petrol A.fi.'nin ana faaliyet konusu olan petrol ve petrol ürünleri al›m›, sat›m›, ihrac› ve ihracat› 1 Temmuz 2006 tarihinden itibaren
yeni kurulan Shell&Turcas Petrol A.fi. taraf›ndan yürütülmeye bafllanm›flt›r. fiirket yönetim kurulunun ald›¤› karar ile, Turcas Petrol
A.fi.'nin faaliyet konusunun elektrik ve do¤algaz gibi alanlara kayd›r›lmas›na karar verilmifltir.
‹stanbul, 12 Nisan 2007
DRT BA⁄IMSIZ DENET‹M VE SERBEST MUHASEBEC‹ MAL‹ MÜfiAV‹RL‹K A.fi.
Member of DELOITTE TOUCHE TOHMATSU
Ömer Tanr›över
Sorumlu Ortak Bafldenetçi
83
Independent Auditors' Opinion
In our opinion, the financial statements present fairly the financial position of Turcas Petrol A.fi. and its subsidiary as at 31 December
2006, and of its financial performance and its cash flows for the year then ended, in accordance with the financial reporting
standards determined by the CMB.
Without qualifying our opinion we would like to draw your attention to the following matters:
As explained in detail in Note 31, Energy Market Regulatory Authority has sent an administrative monetary fine to Turcas Petrol
A.fi. on August 31, 2006 in the amount of TRY 113.599.140 for supplying products to unlicensed dealers. The company has filed
court cases demanding the cancellation of the related payment orders and stopping of the execution. 15. Department of the
Council of State stopped the execution of TRY 714.460 portion of the TRY 113.599.140 administrative monetary fine on November
17, 2006, but rejected the request for stopping the execution of the remaining TRY 112.884.680. As result of the appeal to the
Board of the Administrative Court Departments of the Council of State, the execution of the fines was stopped on January 25,
2007. The company had paid the first and second installments of the fine (total of TRY 2.258.000) but did not make the following
payments due to the decision of stopping the execution. The detailed decisions regarding the stopping of the execution were
notified to the Company on February 28, 2007. The legal process regarding this subject as well as the uncertainty of the final
decision on the cases continue as of the date of this report. For this reason, no provision has been provided on the attached
financial statements regarding this subject other than the ones already paid.
As explained in detail in Note 16, The Shell Company of Turkey Ltd. and Turcas Petrol A.fi. has established Shell & Turcas Petrol
A.fi. on July 1, 2006 by merging part of their assets. Turcas Petrol A.fi. owns %30 of the new company. The main fields of activity
of Turcas Petrol A.fi., i.e. purchasing, selling, export and import of petroleum and petroleum products have started to be undertaken
by Shell & Turcas Petrol A.fi. as of July 1, 2006. As per the resolution of its Board of Directors, Turcas Petrol A.fi. has decided to
concentrate on power and gas businesses as new fields of activity.
‹stanbul, April 12, 2007
DRT BA⁄IMSIZ DENET‹M VE SERBEST MUHASEBEC‹ MAL‹ MÜfiAV‹RL‹K A.fi.
Member of DELOITTE TOUCHE TOHMATSU
Ömer Tanr›över
Partner
84
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 VE 31 ARALIK 2005 TAR‹HLER‹ ‹T‹BAR‹YLE KONSOL‹DE B‹LANÇOLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
Dipnot Referanslar›
VARLIKLAR
Cari / Dönen Varl›klar
Haz›r De¤erler
Menkul K›ymetler ( net )
Ticari Alacaklar ( net )
Finansal Kiralama Alacaklar› ( net )
‹liflkili Taraflardan Alacaklar ( net )
Di¤er Alacaklar ( net )
Canl› Varl›klar ( net )
Stoklar ( net )
Devam Eden ‹nflaat Sözleflmelerinden Alacaklar ( net )
Ertelenen Vergi Varl›klar›
Di¤er Cari / Dönen Varl›klar
Cari Olmayan / Duran Varl›klar
Ticari Alacaklar ( net )
Finansal Kiralama Alacaklar› ( net )
‹liflkili Taraflardan Alacaklar ( net )
Di¤er Alacaklar ( net )
Finansal Varl›klar ( net )
Pozitif / Negatif fierefiye ( net )
Yat›r›m Amaçl› Gayrimenkuller ( net )
Maddi Varl›klar ( net )
Maddi Olmayan Varl›klar ( net )
Ertelenen Vergi Varl›klar›
Di¤er Cari Olmayan / Duran Varl›klar
Toplam Varl›klar
4
5
7
8
9
10
11
12
13
14
15
7
8
9
10
16
17
18
19
20
14
15
31 Aral›k 2006
31Aral›k 2005
98.928.510
91.964.745
3.428.795
689.932
1.782.208
133.013.409
19.205.812
84.012.270
448.588
758.309
380.753
682.077
346.648.607
889.642
344.353.212
484.855
810.541
110.357
445.577.117
26.350.209
2.238.221
153.505.818
1.640.333
1.697.673
287.964
80.809.878
50.543.706
2.666.427
3.405.393
12.454.444
286.519.227
85
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
CONSOLIDATED BALANCE SHEETS AS OF 31 DECEMBER 2006 AND 31 DECEMBER 2005
(Amounts expressed as (TRY), unless otherwise stated.)
Footnote Reference
ASSETS
Current Assets
Cash and Banks
Marketable Securities ( net )
Trade Receivables ( net )
Financial Lease Receivables( net )
Due from Related Parties ( net )
Other Receivables ( net )
Biological Assets (net)
Inventories (net)
Receivables from on going construction contracts (net)
Deferred Tax Assets
Other Receivables/Current Assets
Long Term Assets
Trade Receivables (net)
Financial Lease Receivables (net)
Due from Related Parties (net)
Other Receivables (net)
Financial Assets (net)
Positive/Negative Goodwill
Investment Property (net)
Tangible Assets (net)
Intangible Assets (net)
Deferred Tax Assets
Other Long Term Assets
Total Assets
4
5
7
8
9
10
11
12
13
14
15
7
8
9
10
16
17
18
19
20
14
15
31 December 2006
31 December 2005
98.928.510
91.964.745
3.428.795
689.932
1.782.208
380.753
682.077
346.648.607
889.642
344.353.212
484.855
810.541
110.357
445.577.117
133.013.409
19.205.812
84.012.270
448.588
758.309
26.350.209
2.238.221
153.505.818
1.640.333
1.697.673
287.964
80.809.878
50.543.706
2.666.427
3.405.393
12.454.444
286.519.227
86
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 VE 31 ARALIK 2005 TAR‹HLER‹ ‹T‹BAR‹YLE KONSOL‹DE B‹LANÇOLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
Dipnot Referanslar›
YÜKÜMLÜLÜKLER
K›sa Vadeli Yükümlülükler
Finansal Borçlar (net)
Uzun Vadeli Finansal Borçlar›n K›sa Vadeli K›s›mlar› (net)
Finansal Kiralama ‹fllemlerinden Borçlar (net)
Di¤er Finansal Yükümlülükler (net)
Ticari Borçlar (net)
‹liflkili Taraflara Borçlar (net)
Al›nan Avanslar
Devam Eden ‹nflaat Sözleflmeleri Hakedifl Bedelleri (net)
Borç Karfl›l›klar›
Ertelenen Vergi Yükümlülü¤ü
Di¤er Yükümlülükler (net)
Uzun Vadeli Yükümlülükler
Finansal Borçlar (net)
Finansal Kiralama ‹fllemlerinden Borçlar (net)
Di¤er Finansal Yükümlülükler (net)
Ticari Borçlar (net)
‹liflkili Taraflara Borçlar (net)
Al›nan Avanslar
Borç Karfl›l›klar›
Ertelenen Vergi Yükümlülü¤ü
Di¤er Yükümlülükler (net)
ANA ORTAKLIK DIfiI PAYLAR
ÖZSERMAYE
Sermaye
Sermaye Yedekleri
Hisse Senetleri ‹hraç Primleri
Hisse Senedi ‹ptal Karlar›
Yeniden De¤erleme Fonu
Finansal Varl›klar De¤er Art›fl Fonu
Öz Sermaye Enflasyon Düzeltmesi Farklar›
Kar Yedekleri
Yasal Yedekler
Statü Yedekleri
Ola¤anüstü Yedekler
Özel Yedekler
Sermayeye Eklenecek ‹fltirak Hisseleri ve Gayrimenkul
Sat›fl Kazançlar›
Yabanc› Para Çevrim Farklar›
Net Dönem Kar› / Zarar›
Geçmifl Y›llar Kar / Zararlar›
Toplam Özsermaye ve Yükümlülükler
6
6
8
10
7
9
21
13
23
14
10
6
8
10
7
9
21
23
14
10
24
25
26
27
27
28
31 Aral›k 2006
31 Aral›k 2005
6.145.145
385.823
1.142.827
2.088.182
2.528.313
2.772.252
1.459.438
190.146
142.668
980.000
436.659.720
105.000.000
66.837.343
66.837.343
6.741.802
6.549.811
191.991
-
63.500.259
25.763.033
22.662.178
796.785
440.781
6.989.354
6.848.128
3.527.035
737.694
1.638.946
1.150.395
219.491.933
105.000.000
66.837.343
66.837.343
1.136.720
690.838
445.882
-
257.592.787
487.788
445.577.117
46.517.870
286.519.227
Ekteki dipnotlar bu mali tablolar›n tamamlay›c› bir parças›d›r.
87
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
CONSOLIDATED BALANCE SHEETS AS OF 31 DECEMBER 2006 AND 31 DECEMBER 2005
(Amounts expressed as (TRY), unless otherwise stated.)
Footnote Reference
LIABILITIES
Short Term Liabilities
Short Term Borrowings (net)
Short Term Portions of Long Term Borrowings (net)
Financial Lease Payables (net)
Other Financial Liabilities (net)
Trade Payables (net)
Due to Related Parties (net)
Advances Received
Ongoing Construction Progress Payments (net)
Provisions
Deferred Tax Liability
Other Liabilities (net)
Long Term Liabilities
Long Term Borrowings (net)
Financial Lease Payables (net)
Other Financial Liabilities (net)
Trade Payables (Net)
Due to Related Parties (net)
Advances Received
Provisions
Deferred Tax Liability
Other Liabilities (net)
MINORITY INTEREST
SHAREHOLDERS' EQUITY
Capital
Capital Reserves
Premium in Excess Of Par
Gain on cancellation of equity shares
Revaluation Fund
Revaluation Fund for Financial Assets
Inflation Adjustment of Shareholders' Equity Items
Profit Reserves
Legal Reserves
Statutory Reserves
Extraordinary Reserves
Special Reserves
Gain from sale of immobile and equity participations'
shares transferable to capital
Currency Translation Reserve
Net Profit for Current Period
Retained earnings
Total Shareholders' Equity and Liabilities
6
6
8
10
7
9
21
13
23
14
10
6
8
10
7
9
21
23
14
10
24
25
26
27
27
28
31 December 2006
31 December 2005
6.145.145
385.823
1.142.827
2.088.182
2.528.313
2.772.252
1.459.438
190.146
142.668
980.000
436.659.720
105.000.000
66.837.343
66.837.343
6.741.802
6.549.811
191.991
-
63.500.259
25.763.033
22.662.178
796.785
440.781
6.989.354
6.848.128
3.527.035
737.694
1.638.946
1.150.395
219.491.933
105.000.000
66.837.343
66.837.343
1.136.720
690.838
445.882
-
257.592.787
487.788
445.577.117
46.517.870
286.519.227
The accompanying notes form an integral part of these financial statements.
88
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 VE 31 ARALIK 2005 TAR‹HLER‹NDE SONA EREN YILLARA A‹T KONSOL‹DE GEL‹R TABLOLARI
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
Dipnot Referanslar› 01 Ocak-31 Aral›k 2006 01 Ocak-31 Aral›k 2005
ESAS FAAL‹YET GEL‹RLER‹
- Sat›fl Gelirleri ( net )
- Sat›fllar›n Maliyeti ( - )
- Esas Faaliyetlerden Di¤er Gelirler / faiz + temettü + kira ( net )
BRÜT ESAS FAAL‹YET KARI / ZARARI
- Faaliyet Giderleri ( - )
NET ESAS FAAL‹YET KARI / ZARARI
- Di¤er Faaliyetlerden Gelir ve Karlar
- Di¤er Faaliyetlerden Gider ve Zararlar ( - )
- Finansman Giderleri ( - )
FAAL‹YET KARI / ZARARI
-Net Parasal Pozisyon Kar›/Zarar›
ANA ORTAKLIK DIfiI KAR / ZARAR
VERG‹ ÖNCES‹ KAR / ZARAR
- Vergiler
NET DÖNEM KARI / ZARARI
H‹SSE BAfiINA KAZANÇ
36
36
36
37
38
38
39
40
24
41
42
902.237.105
(847.128.904)
797.217
55.905.418
(30.883.863)
25.021.555
237.637.623
(2.819.514)
10.912.961
270.752.625
270.752.625
(13.159.838)
257.592.787
2,45
Ekteki dipnotlar bu mali tablolar›n tamamlay›c› bir parças›d›r.
1.853.821.465
(1.756.685.706)
3.647.555
100.783.314
(46.922.875)
53.860.439
16.211.696
(2.788.809)
(421.024)
66.862.302
66.862.302
(20.344.432)
46.517.870
0,49
89
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
CONSOLIDATED STATEMENTS OF INCOME FOR THE YEARS ENDED 31 DECEMBER 2006 AND 31 DECEMBER 2005
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
Footnote Reference
1 Jan.- 31 Dec. 2006
1 Jan.- 31 Dec. 2005
OPERATING INCOME
- Sales Revenue (net)
36
- Cost of Sales (-)
36
- Other Operating income / interest + dividdividend + rent (net) 36
GROSS PROFIT / LOSS
- Operating Expenses (-)
37
OPERATING PROFIT / LOSS
- Other Income and Profits
38
- Other Expense and Losses (-)
38
- Finance Expense / Income (net)
39
PROFIT BEFORE MONETARY GAIN AND TAX
- Net Monetary Gain / Loss
40
MINORITY INCOME / LOSS
24
PROFIT / LOSS BEFORE TAXATION
- Taxation
41
NET PROFIT / LOSS FOR THE PERIOD
EARNINGS PER SHARE
42
902.237.105
(847.128.904)
797.217
55.905.418
(30.883.863)
25.021.555
237.637.623
(2.819.514)
10.912.961
270.752.625
270.752.625
(13.159.838)
257.592.787
2,45
1.853.821.465
(1.756.685.706)
3.647.555
100.783.314
(46.922.875)
53.860.439
16.211.696
(2.788.809)
(421.024)
66.862.302
66.862.302
(20.344.432)
46.517.870
0,49
The accompanying notes form an integral part of these financial statements.
105.000.000
Geçmifl y›l karlar›na transfer
Yedeklere transfer
Ödenen temettü
Net dönem kar›
31 Aral›k 2006 itibariyle bakiye
66.837.343
127.208.359
(60.371.016)
66.837.343
Özsermaye
Enflasyon
Düzeltmesi
Farklar›
5.858.973
6.549.811
690.838
690.838
Yasal
Yedekler
(253.891)
191.991
445.882
445.882
Ola¤anüstü
Yedekler
Ekteki dipnotlar bu mali tablolar›n tamamlay›c› bir parças›d›r.
26.330.233
78.669.767
105.000.000
1 Ocak 2005 itibariyle aç›l›fl bakiyesi
Geçmifl y›l karlar›na transfer
Yedeklere transfer
Sermaye Art›r›m›
Net dönem kar›
31 Aral›k 2005 itibariyle bakiye
Sermaye
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
46.517.870
(5.858.973)
(40.171.109)
487.788
19.435.471
(1.136.720)
(18.298.751)
-
Geçmifl Y›llar
Kar/ (Zararlar›)
31 ARALIK 2006 VE 31 ARALIK 2005 TAR‹HLER‹NDE SONA EREN YILLARA A‹T KONSOL‹DE ÖZSERMAYE DE⁄‹fi‹M TABLOLARI
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
(46.517.870)
257.592.787
257.592.787
19.435.471
(19.435.471)
46.517.870
46.517.870
Net Dönem
Kar›
(40.425.000)
257.592.787
436.659.720
172.974.063
46.517.870
219.491.933
Toplam
90
5.858.973
6.549.811
690.838
690.838
Legal
Reserves
(253.891)
191.991
445.882
445.882
Extraordinary
Reserves
The accompanying notes form an integral part of these financial statements.
66.837.343
Opening balance as of 01 January 2005 26.330.233
Transfers to retain earnings
Transfers to reserves
Capital increase
78.669.767
Net profit for the year
Balance as of 31 December 2005
105.000.000
105.000.000
127.208.359
(60.371.016)
66.837.343
Capital
Transfers to retain earnings
Transfers to reserves
Dividends
Net profit for the year
Balance as of 31 December 2006
Inflation
Adjustmen
ts of
Sharehold
ers Equity
Items
(Amounts are expressed as (TRY), unless otherwise stated.)
46.517.870
(5.858.973)
(40.171.109)
487.788
19.435.471
(1.136.720)
(18.298.751)
-
Retained
Earnings
(46.517.870)
257.592.787
257.592.787
19.435.471
(19.435.471)
46.517.870
46.517.870
Net Profit
for the Year
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY FOR THE YEARS ENDED 31 DECEMBER 2006 AND 31 DECEMBER 2005
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
(40.425.000)
257.592.787
436.659.720
172.974.063
46.517.870
219.491.933
Total
91
92
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 VE 31 ARALIK 2005 TAR‹HLER‹NDE SONA EREN YILLARA A‹T KONSOL‹DE NAK‹T AKIM TABLOLARI
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
Not
‹fiLETME FAAL‹YETLER‹NDEN KAYNAKLANAN NAK‹T AKIMLARI
Net dönem kar›
Net dönem kar›n› iflletme faaliyetlerinden elde edilen
nakit ak›m›na getirmek için yap›lan düzeltmeler
- Maddi duran varl›klar›n amortisman›
19
- Maddi olmayan duran varl›klar›n itfa paylar›
20
- Sabit k›ymet sat›fl kar›
- K›dem tazminat› karfl›l›¤›
23
- fiüpheli ticari alacak karfl›l›¤›ndaki de¤iflim
7
- Bölünme ifllemi sonucu oluflan kar
16,38
- Shell&Turcas Petrol A.fi. net dönem kar›n›n toplulu¤a ait pay› 16,38
- Vergi tahakkuku
41
‹flletme sermayesindeki de¤iflim öncesi faaliyetlerden
elde edilen nakit ak›m
‹flletme sermayesindeki de¤iflimler
- ‹liflkili taraflardan alacaklar›n (art›fl›)/azal›fl›
- Stoklar›n (art›fl›)/azal›fl›
- Ticari alacaklar›n (art›fl›)/azal›fl›
- Di¤er alacaklar ve dönen varl›klar›n (art›fl›)/azal›fl›
- Ticari borçlar›n art›fl›/(azal›fl›)
- ‹liflkili taraflara borçlar›n art›fl›/(azal›fl›)
- Al›nan avanslar›n art›fl›/(azal›fl›)
- Borç karfl›l›klar›n art›fl›/(azal›fl›)
- Di¤er yükümlülüklerin art›fl›/(azal›fl›)
Faaliyetlerden elde edilen nakit
- Ödenen vergi
‹flletme faaliyetlerinden elde edilen nakit
YATIRIM FAAL‹YETLER‹NDEN KAYNAKLANAN NAK‹T AKIMLARI
- Kurulan flirketin sermayesine ilk kat›l›m pay›
16
- Maddi duran varl›k al›mlar›
19
- Maddi olmayan duran varl›k al›mlar›
20
- Maddi duran varl›k sat›fl›ndan elde edilen nakit
Di¤er yat›r›m faaliyetlerinde gerçekleflen de¤iflim
Yat›r›m faaliyetlerinden elde edilen/(kullan›lan) nakit
F‹NANSAL FAAL‹YETLER‹NDEN KAYNAKLANAN NAK‹T AKIMLARI
- Ödenen finansal borçlar
- Ödenen temettü
Finansal faaliyetlerde kullan›lan nakit
NAK‹T VE NAK‹T BENZER‹ KALEMLERDEK‹ NET DE⁄‹fi‹M
DÖNEM BAfiI NAK‹T VE NAK‹T BENZER‹ KALEMLER
DÖNEM SONU NAK‹T VE NAK‹T BENZER‹ KALEMLER
1 Ocak-31 Aral›k 2006
1 Ocak-31 Aral›k 2005
257.592.787
46.517.870
4.406.311
1.832.986
(24.055.472)
(1.448.800)
180.403
(171.453.382)
(31.750.675)
13.159.838
48.463.996
9.138.417
4.901.349
329.427
514.341
20.344.432
81.745.836
(241.344)
25.969.456
81.153.763
(143.668)
(22.276.355)
346.042
280.963
148.869
(4.490.210)
129.211.512
(14.772.175)
114.439.337
(416.652)
163.805
(12.976.289)
(180.136)
(2.887.327)
476.228
808.466
66.733.931
(18.576.654)
48.157.277
(15.000)
(2.735.263)
(39.501)
27.297.393
24.507.629
(5.181.184)
(59.972)
188.870
(5.885.869)
(10.938.155)
(25.763.033)
(40.425.000)
(66.188.033)
72.758.933
19.205.812
91.964.745
(38.708.897)
(38.708.897)
(1.489.775)
20.695.587
19.205.812
Ekteki dipnotlar bu mali tablolar›n tamamlay›c› bir parças›d›r.
93
TURCAS PETROL A.fi. VE AND ITS SUBSIDIARY
CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED 31 DECEMBER 2006 AND 31 DECEMBER 2005
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
Note
CASH FLOWS FROM OPERATING ACTIVITIES
Net profit for the year
Adjustments to reconcile net profit to net cash
provided by operating activities
- Depreciation of property, plant and equipment
- Amortization of intangible assets
- Proceeds on disposal of fixed assets
- Provision for retirement pay
- Change in allowance for doubtful receivables
- Profit generated from spin-off
- Shell&Turcas Petrol A.fi.'s profit attributable to the Group
- Accrued taxation
Operating profit before changes in working capital
19
20
23
7
16,38
16,38
41
Changes in working capital
- (Increase)/decrease in due from related parties
- (Increase)/decrease in inventories
- (Increase)/decrease in trade receivables
- (Increase)/decrease in other receivables and current assets
- Increase/(decrease) in trade Payables
- Increase/(decrease) in due to related parties
- Increase/(decrease) in received advances
- Increase/(decrease) in provisions
- Increase/(decrease) in other payables and expense accruals
Cash provided by operating activities
- Corporate tax paid
Net cash provided by operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
- Participation share
- Purchases of property, plant and equipment
- Purchases of intangible assets
- Proceeds on disposal of fixed assets
- Changes in other investing activities
Net cash provided by/(used in) investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
- Payment of borrowings
- Dividends paid
Net cash used in financing activities
NET CHANGES IN CASH AND BANKS
CASH AND BANKS AT THE BEGINNING OF YEAR
CASH AND BANKS AT THE END OF YEAR
16
19
20
1 Jan.- 31 Dec. 2006
1 Jan.-31 Dec. 2005
257.592.787
46.517.870
4.406.311
1.832.986
(24.055.472)
(1.448.800)
180.403
(171.453.382)
(31.750.675)
13.159.838
48.463.996
9.138.417
4.901.349
329.427
514.341
20.344.432
81.745.836
(241.344)
25.969.456
81.153.763
(143.668)
(22.276.355)
346.042
280.963
148.869
(4.490.210)
129.211.512
(14.772.175)
114.439.337
(416.652)
163.805
(12.976.289)
(180.136)
(2.887.327)
476.228
808.466
66.733.931
(18.576.654)
48.157.277
(15.000)
(2.735.263)
(39.501)
27.297.393
24.507.629
(5.181.184)
(59.972)
188.870
(5.885.869)
(10.938.155)
(25.763.033)
(40.425.000)
(66.188.033)
72.758.933
19.205.812
91.964.745
(38.708.897)
(38.708.897)
(1.489.775)
20.695.587
19.205.812
The accompanying notes form an integral part of these financial statements.
94
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
1. fi‹RKET‹N ORGAN‹ZASYONU VE FAAL‹YET KONUSU
Turcas Petrol A.fi. ve ba¤l› ortakl›¤› (Topluluk) Turcas Petrol A.fi. (fiirket) ve hisselerinin tamam›na sahip bulundu¤u Marmara Petrol
ve Rafineri ‹flleri A.fi. (Marmara) ve bir adet ifltirakini içermektedir. Topluluk 1 Temmuz 2006 tarihinde kurulan Shell & Turcas Petrol
A.fi.'ne %30 oran›nda ifltirak etmifltir. Topluluk'un faaliyet konusu; her türlü petrol ve petrol ürünlerinin al›m›, sat›m›, ihrac› ve ithali
ile da¤›t›m›d›r.
Turcas Petrolcülük A.fi., 1988 y›l›nda Türkpetrol Holding ve Burmah-Castrol taraf›ndan kurulmufltur. 1996 y›l›nda, Tabafl Petrolcülük
A.fi. (“Tabafl”) Turcas Petrolcülük A.fi'nin her biri 1.000 TL nominal de¤erli 1.677.946 adet hissesini 139.681.436 ABD Dolar›
karfl›l›¤›nda sat›n alarak %82,16 oran›nda ortak olmufltur.
30 Eylül 1999 tarihi itibariyle Tabafl, Türk Ticaret Kanunu'nun 451. ve Kurumlar Vergisi Kanunu'nun 37-39. maddeleri uyar›nca Turcas
Petrolcülük A.fi. ile birleflmifltir. Bu birleflmenin sonucu olarak; Turcas Petrolcülük A.fi.'nin tüm aktif ve pasifi Tabafl'a devrolmufl
ve Turcas Petrolcülük A.fi. feshedilmifltir. Ayn› tarih itibariyle Tabafl Petrolcülük A.fi.'nin ticari ünvan› Turcas Petrol A.fi. olarak
de¤ifltirilmifltir.
fiirket 1996 y›l›nda Marmara'n›n, hisselerinin %100'ünü sat›n alm›flt›r. 1958 y›l›nda kurulan Marmara'n›n Anadolu Tasfiyehanesi
A.fi.'deki (“ATAfi”) %5 ortakl›¤› d›fl›nda bir faaliyeti ve çal›flan personeli yoktur. Rafineri iflleme, akaryak›t depolama ve servisi
konular›nda faaliyet göstermektedir. Denetim tarihi itibariyle rafineri iflleme faaliyeti bulunmamakta olup akaryak›t depolama ve
servisi faaliyeti devam etmektedir. Mersin'de kay›tl› bulunan ATAfi, Türk Kanunlar›'n›n hükümlerince kurulmufltur. ATAfi'›n ana
faaliyeti ifltirakçi flirketler yarar›na petrol rafine etmektir. ATAfi'›n faaliyet giderleri ve vergileri ifltirakçi firmalar taraf›ndan
yüklenilmekte ve ifltirakçiler ATAfi'a bu amaçla dönemsel olarak nakit kaynak sa¤lamaktad›rlar. Petrol Kanunu hükümleri uyar›nca
ATAfi'›n tüm haklar› ifltirakçi flirketlerin hissedarlar›na verilmifltir.
fiirket Yönetim Kurulu'nun 7 Haziran 2004 tarihinde alm›fl oldu¤u karar ile fiirket'in ba¤l› ortakl›¤› Marmara Petrol ve Rafineri ‹flleri
A.fi. Rafineri Belgesi'ni di¤er ATAfi ortaklar› ile birlikte Petrol ‹flleri Genel Müdürlü¤ü'ne iade etmifl, ATAfi'›n rafineri faaliyetlerine
son vermifl ve EPDK'dan ATAfi'a bir terminal lisans› alm›flt›r.
Not 16'da detayl› olarak aç›kland›¤› üzere, 1 Temmuz 2006 tarihinde, varl›klar›n k›smi bölünme yoluyla Shell&Turcas Petrol A.fi.'ye
devri, Turcas Petrol A.fi.'nin %30 ve The Shell Company of Turkey Ltd.'nin %70 oran›nda Shell&Turcas Petrol A.fi. hissesi almas›yla
gerçekleflmifltir. Shell&Turcas Petrol A.fi. her türlü akaryak›t ve ya¤lar›n sat›n al›m›, sat›fl›, ithalat ve ihracat›, depolamas› ve da¤›t›m›
konular›nda faaliyet göstermektedir.
Socar & Turcas Enerji A.fi. 28 Aral›k 2006 tarihinde Türk Ticaret gazetesinde tescil edilerek 50.000 YTL sermaye ile kurulmufltur.
Kurulan flirkette Turcas Petrol A.fi.'nin %25, Aksoy Holding A.fi.'nin %24 ortakl›¤› bulunmaktad›r. fiirket'in faaliyet konusu endüstri
sektöründe her türlü üretim, iflleme, sat›fl, da¤›t›m, yat›r›m, araflt›rma, gelifltirme, ihracat ve ithalat faaliyetlerinde bulunmakt›r.
Socar & Turcas Enerji A.fi.'nin 28 Aral›k 2006 tarihinde kurulmas›, aktif toplam›n›n ekli konsolide mali tablolar› etkilemeyecek
derecede küçük olmas› sebebiyle konsolidasyona dahil edilmemifltir.
Özellefltirme ‹daresi taraf›ndan ihaleye ç›kar›lacak olan elektrik da¤›t›m bölgelerinin özellefltirilmesine kat›lmak ve elektrik da¤›t›m
bölgelerinde iflletme konusunda iflbirli¤i imkanlar›n› gelifltirmek amac›yla bir ‹spanyol enerji flirketi olan ‹berdrola S.A. ile Turcas
Petrol A.fi. aras›nda Ortak Giriflim Sözleflmesi 30 May›s 2006 tarihinde imzalanm›flt›r. Anlaflma uyar›nca faaliyet göstermek üzere
Turcas Petrol A.fi., Iberdrola ve taraflar›n ifltiraklerinden oluflacak anonim flirket, rapor tarihi itibariyle henüz kurulmam›flt›r.
95
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
1. ORGANIZATION AND OPERATIONS OF THE COMPANY
Turcas Petrol A.fi. Group (the “Group”) consists of Turcas Petrol A.fi. (the “Company”), and its wholly owned subsidiary, Marmara
Petrol ve Rafineri ‹flleri A.fi. (“Marmara“).The Group is owned the %30 shares of Shell & Turcas Petrol A.fi., that is established as
of July 1, 2006. The Group is engaged in purchasing, selling, importing, exporting, and distributing all kinds of fuel products and
lubricants.
Turcas Petrolcülük A.fi. was established in 1988 by Türkpetrol Holding and Burmah-Castrol. In 1996, Tabafl Petrolcülük A.fi. (“Tabafl”)
purchased 1.677.946 shares of Turcas Petrolcülük A.fi. at TL 1,000 nominal value each, for USD 139.681.436, resulting in an
ownership of 82,16%.
On 30 September 1999, Tabafl merged with Turcas Petrolcülük A.fi. in accordance with the Turkish Commercial Code Article No:
451 and Corporate Tax Law Article No: 37-39. As a result of the merger, the assets and liabilities of Turcas Petrolcülük A.fi. were
transferred to Tabafl and Turcas Petrolcülük A.fi. was dissolved. As of the same date, the commercial title of Tabafl was changed
to Turcas Petrol A.fi. The Company is engaged in purchasing, selling, importing, exporting, and distributing all kinds of fuel products
and lubricants.
In 1996, the Company acquired 100% of Marmara, which was established in 1958. Marmara has no employees and no activities
other than 5% ownership of Anadolu Tasfiyehanesi A.fi. (“ATAfi”). Atafl is incorporated under the Turkish Law and registered in
Mersin, Turkey. Its main activity is refining oil in order to provide benefit for the participating companies. ATAfi's all operating
expenses and income taxes are charged, and participants supply cash advances periodically for this purpose. The rights of Atafl
under the petroleum law are vested in the refinery companies of the participant shareholders.
As a result of the Board of Directors of the Company minute held on 7 June 2004, the company's subsidiary Marmara Petrol ve
Rafineri ‹flleri A.fi. and the other ATAfi partners returned their Certificate of Refinery to the DGPA, put an end to the refining
operations of ATAfi and got a Terminal License for ATAfi from the Energy Market Regulatory Authority.
As explained at Note 16 in detail, as of July 1, 2006, partial spin-off took place by, purchase of 30% of Shell&Turcas Petrol A.fi.
shares by Turcas and 70% of Shell&Turcas Petrol A.fi. shares by Shell Company of Turkey Ltd. Main operations of the Shell&Turcas
Petrol A.fi is in purchasing, selling, importing, exporting, and distributing all kinds of fuel products and lubricants.
Socar & Turcas Enerji A.fi. is established with 50.000 TRY capital by registering to Turkish Trade Gazette as of December 28, 2006.
The founded company is owned by turcas Petrol A.fi. (%25) and , Aksoy Holding A.fi. (%24). The company is engaged in production,
selling, distribution, investment, research, development, import and export operations in industrial sector. Socar & Turcas Enerji
A.fi. is not included in the consolidated financial statements since the Company was establed as of December 28 and financial
statements of the Socar & Turcas Enerji A.fi. does not have a material effect on the consolidated financial.
The Company has signed a joint venture agreement on 30 May 2006 with ‹berdrola S.A.,which is an international Spanish energy
company to participate the invitation of the Turkish Privatization Administration's for the tender regarding the privatization of
the electricity distribution areas and to develop opportunities collaboratively in operating the electricity distribution areas. The
parts have not established the joined Company as of this report date.
96
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
1. fi‹RKET‹N ORGAN‹ZASYONU VE FAAL‹YET KONUSU (cont'd)
fiirketin merkez adresi ve ortakl›k yap›s›; Emirhan Caddesi No: 145 Atakule Kat: 6 Befliktafl/‹stanbul merkezinde faaliyet gösteren
flirketin hisse senetleri ‹stanbul Menkul K›ymetler Borsas›nda (‹MKB) ifllem görmekte olup, sermayenin hissedarlar aras›ndaki
da¤›l›m› afla¤›daki gibidir:
fiirket'in ana orta¤› Aksoy Holding A.fi.'dir.
Ortaklar
Aksoy Petrol Da¤. Yat›r›mlar› A.fi.
Halka aç›k k›s›m
Aksoy Holding A.fi.
Erdal Aksoy
Y›lmaz Tecmen
Di¤er
Sermaye
(%)
%28,52
%28,43
%23,03
%20,02
%100,00
31 Aral›k 2006
29.946.967
29.853.676
24.176.996
21.022.361
105.000.000
31 Aral›k 2006 tarihi itibariyle fiirket'in 15 adet çal›flan› bulunmaktad›r (31 Aral›k 2005: 185).
(%)
%28,52
%30,79
%19,86
%5,04
%15,79
%100,00
31 Aral›k 2005
29.946.967
32.331.297
20.851.813
5.292.477
16.577.446
105.000.000
97
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
1. ORGANIZATION AND OPERATIONS OF THE COMPANY (cont'd)
The company's legal center address is Emirhan caddesi No: 145 Atakule Kat:6 Befliktafl/‹stanbul and the company shares are traded
on ‹stanbul Stock Exchange; distrubution of capital between shareholders are as follows;
The principal partner of the company is Aksoy Holding A.fi.
Shareholders
Aksoy Petrol Da¤. Yat›r›mlar› A.fi.
Halka aç›k k›s›m
Aksoy Holding A.fi.
Erdal Aksoy
Y›lmaz Tecmen
Di¤er
Sermaye
(%)
%28,52
%28,43
%23,03
%20,02
%100,00
31 December 2006
29.946.967
29.853.676
24.176.996
21.022.361
105.000.000
The company has 15 employees as of December 31, 2006 (December 31, 2005:185).
(%)
%28,52
%30,79
%19,86
%5,04
%15,79
%100,00
31 December 2005
29.946.967
32.331.297
20.851.813
5.292.477
16.577.446
105.000.000
98
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
2. MAL‹ TABLOLARIN SUNUMUNA ‹L‹fiK‹N ESASLAR
Uygulanan muhasebe standartlar›:
fiirket ve ba¤l› orta¤›n›n yasal defterlerini ve mali tablolar›n› Türk Ticaret Kanunu ve vergi mevzuat›nca belirlenen muhasebe
ilkelerine uygun olarak tutmakta ve haz›rlamaktad›rlar.
Sermaye Piyasas› Kurulu (“SPK”), Seri: XI, No: 25 say›l› "Sermaye Piyasalar›nda Muhasebe Standartlar› Hakk›nda Tebli¤”inde (“Seri:
XI, No: 25 say›l› Tebli¤”) kapsaml› bir muhasebe ilkeleri seti yay›nlam›flt›r. 23 Aral›k 2004 tarihinde yay›mlanan “Sermaye Piyasas›nda
Muhasebe Standartlar› Hakk›nda Tebli¤de De¤ifliklik Yap›lmas›na Dair Tebli¤” (“Seri: XI, No: 27 say›l› Tebli¤”) ile Seri: XI, No: 25
say›l› Tebli¤'e eklenen Ek Madde 1'de mali tablo ve rapor ile dipnot formatlar› dahil Kurulca yay›mlanan muhasebe standartlar›
aç›klamalar› sakl› olmak üzere, iflletmelerin Uluslararas› Finansal Raporlama Standartlar›n› (“UFRS”) uygulamalar›, Seri: XI, No: 25
say›l› Tebli¤'de öngörülen düzenleme ve ilan yükümlülüklerinin yerine getirilmesi hükmünde oldu¤u aç›klanm›fl ve böylece,
alternatif olarak Uluslararas› Muhasebe Standartlar› Kurulu (“IASB”) ve Uluslararas› Muhasebe Standartlar› Komitesi (“IASC”)
taraf›ndan ç›kar›lm›fl olan muhasebe standartlar›n›n uygulanmas›n›n da, SPK muhasebe standartlar›na uyulmufl say›laca¤› belirtilmifltir.
Buna istinaden Topluluk, mali tablolar›n› SPK'n›n izin verdi¤i yukar›daki bahse konu edilen alternatif uygulama çerçevesinde
haz›rlamay› ve kamuya aç›klamay› benimsemifltir. Mali tablo ve dipnot formatlar› ise SPK'n›n 20 Aral›k 2004 tarihli duyurusu
ile uygulanmas› zorunlu k›l›nan formatlara uygun olarak sunulmufltur.
Yüksek enflasyon dönemlerinde mali tablolar›n düzeltilmesi:
SPK'n›n 17 Mart 2005 tarih ve 11/367 say›l› karar› uyar›nca, Türkiye'de faaliyette bulunan ve SPK Muhasebe Standartlar›'na
(UFRS uygulamas›n› benimseyenler dahil) uygun olarak mali tablo haz›rlayan flirketler için, 1 Ocak 2005 tarihinden itibaren geçerli
olmak üzere enflasyon muhasebesi uygulamas›na son verilmifltir. Buna istinaden, 1 Ocak 2005 tarihinden itibaren IASB taraf›ndan
yay›mlanm›fl 29 No'lu “Yüksek Enflasyonlu Ekonomilerde Finansal Raporlama” Standard› (“UMS 29”) uygulanmam›flt›r.
31 Aral›k 2006 tarihi itibariyle Türkiye Cumhuriyet Merkez Bankas› taraf›ndan aç›klanan dolar kuru 1 ABD Dolar› = 1,4056 YTL, 1
Euro = 1,8515 YTL'dir (31 Aral›k 2005 tarihi itibariyle 1 ABD Dolar› = 1,3418 YTL, 1 Euro = 1,5875 YTL'dir).
Konsolide mali tablolar›n haz›rlanmas›ndaki esaslar:
Toplulu¤un do¤rudan veya dolayl› olarak %50'sinden fazlas›na ifltirak etti¤i veya oy hakk›na sahip olmas› nedeniyle ifllemleri
üzerinde kontrol yetkisine sahip oldu¤u ba¤l› ortakl›klar tam olarak konsolide edilmektedir. Topluluk ve konsolide edilen ba¤l›
ortakl›klar› aras›nda gerçekleflen önemli ifllemler ve bakiyeler konsolidasyon s›ras›nda yok edilir.
Marmara Petrol ve Rafineri ‹flleri A.fi. tam olarak konsolide edilmektedir. fiirket ve Marmara Petrol ve Rafineri ‹flleri A.fi. aras›nda
gerçekleflen önemli ifllemler ve bakiyeler konsolidasyon s›ras›nda yok edilir.
fiirket ve ba¤l› ortakl›¤›n›n finansal ve operasyonel politikalar›na önemli ölçüde etki edebildi¤i tüzel kiflilikler, ifltirak olarak adland›r›l›r
ve özkaynak yöntemine göre muhasebelefltirilirler. Özkaynak yönteminde ifltirak net varl›k tutar›yla konsolide bilançoda gösterilir
ve faaliyeti sonucunda ortaya ç›kan Topluluk pay› konsolide gelir tablosuna dahil edilir. ‹fltiraklerin net aktif de¤erindeki düflüflün
geçici olmamas› durumunda ifltirak de¤eri, konsolide mali tablolarda azalt›lm›fl de¤eriyle gösterilir.
Turcas A.fi.'nin Shell&Turcas Petrol A.fi.'ye %30 oranla ifltirak etmesi, toplulu¤un finansal ve operasyonel politikalar›na önemli
ölçüde etki etmesi dikkate al›narak ekli mali tablolarda Shell & Turcas A.fi. özkaynak yöntemine göre muhasabelefltirilmifltir.
Socar & Turcas Enerji A.fi.'nin 28 Aral›k 2006 tarihinde kurulmas›, aktif toplam›n›n ekli konsolide mali tablolar› etkilemeyecek
derecede küçük olmas› sebebiyle konsolidasyona dahil edilmemifltir
99
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
2. BASIS OF THE FINANCIAL STATEMENTS
Accounting Standarts:
The Company and its subsidiary maintain and prepare its books of account in accordance with accounting principles in the Turkish
Commercial Code and tax legislation.
The Capital Markets Board (the “CMB”), published a set of comprehensive accounting policies in Communiqué No: XI/25 “Communiqué
on Capital Market Accounting Standards” (the “Communiqué No: XI/25”). Without revealing the declarations issued by the CMB
upon Accounting Standards including financial statement, report and footnote formats in the Additional Article 1, which is added
to the Communiqué No: XI/25 and Communiqué No: XI/27 “Communiqué on Amendments upon the Capital Markets Accounting
Standards Communiqué” (the “Communiqué No: XI/27”) published on 23 December 2004, it is stated that the application of
International Financial Reporting Standards (“IFRS”) by companies should be in accordance with the required arrangements and
declarations issued in the Communiqué No: XI/25. Therefore, as an alternative, the compliance with the accounting standards
issued by the International Accounting Standards Board (“IASB”) and International Accounting Standards Committee (“IASC”) will
be counted as in compliance with the CMB's Accounting Standards.
The Group prepared its financial statements according to the alternative application permitted by the CMB, mentioned above.
The financial statements and footnotes are prepared in accordance with the CMB's announcement on 20 December 2004 regarding
the obligatory format.
Preparation of Financial Satements in Hyperinflationary Periods:
The CMB with the resolution numbered 11/367 dated 17 March 2005 declared that companies operating in Turkey which prepare
their financial statements in accordance with the CMB Accounting Standards (including the application of IFRS) effective 1 January
2005, will not be subject to the application of inflation accounting. Based on that declaration, in the accompanying financial
statements, IAS 29 “Financial Reporting in Hyperinflationary Economies” was not applied beginning from 1 January 2005.
The exchange rate announced by the Turkish Central Bank as of 31 December 2006 is USD Dollar 1 = TRY 1,4056, EUR 1 = TRY
1,8515 (31 December 2005: USD Dollar 1 = TRY 1,3418, EUR 1 = TRY 1,5875).
Consolidation:
Entities in which the Group, directly or indirectly, has above 50% shareholding or interest of voting rights or otherwise has power
to exercise control over operations, have been fully consolidated. The Group has obtained shares from the operations of the equity
subsidiaries since it has power to govern the financial and operational policies of the company. All significant transactions and
balances between the Group and its consolidated subsidiaries are eliminated on the consolidation.
Marmara Petrol ve Rafineri ‹flleri A.fi. was fully consolidated . Significant transactions and balances realized between the Company
and Marmara Petrol ve Rafineri ‹flleri A.fi. were eliminated in the consolidation.
An associate is an enterprise over which the Group is in a position to exercise significant influence, through participation in the
financial and operating policy decisions of the investee and they are accounted using the equity method. Under the equity method,
the net assets of the investee company are carried in the consolidated balance sheet and the share of the Group derived from
the investee company's results of operations is recognized in the statement of income. The carrying amount of such investments
is reduced to recognize any decline, other than a temporary decline, in the value of individual investments.
Turcas Petrol A.fi. has a 30% participation in Shell&Turcas Petrol A.fi., has a significant influance in the financial and operating
policy decisions of the investee therefore it is accounted using the equity method.
Socar & Turcas Enerji A.fi. is not included in the consolidated financial statements since the Company was establed as of December
28 and financial statements of the Socar & Turcas Enerji A.fi. does not have a material effect on the consolidated financial.
100
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
2. MAL‹ TABLOLARIN SUNUMUNA ‹L‹fiK‹N ESASLAR (devam›)
Karfl›laflt›rmal› bilgiler ve önceki dönem tarihli mali tablolar›n düzeltilmesi:
Mali tablolardaki say›sal veriler önceki dönemle karfl›laflt›rmal› olarak sunulmufltur. Mali tablolar›n kalemlerinin gösterimi veya
s›n›fland›r›lmas› de¤iflti¤inde karfl›laflt›r›labilirli¤i sa¤lamak amac›yla, önceki dönem mali tablolar› da buna uygun olarak yeniden
s›n›fland›r›l›r ve bu hususlara iliflkin olarak aç›klama yap›l›r.
Netlefltirme/Mahsup:
Finansal varl›klar ve yükümlülükler, yasal olarak netlefltirme hakk› var oldu¤u takdirde ve net olarak ödenmesi ve/veya tahsili
düflünüldü¤ünde veya varl›¤›n elde edilmesi ile yükümlülü¤ün yerine getirilmesi ayn› zamanda gerçeklefltirilecek oldu¤unda
bilançoda net de¤erleri ile gösterilir.
Yeni ve güncellefltirilmifl standartlar›n›n uygulamas›:
Topluluk cari dönemde, Uluslararas› Muhasebe Standartlar› Kurulu (“UMSK”) ve Uluslararas› Finansal Raporlama Standartlar›n›
Yorumlama Komitesi (“UFRYK”) taraf›ndan yay›nlanm›fl, yeni ve revize edilmifl UFRS ve yorumlar›ndan kendi faaliyet konusu ile
ilgili olanlar›n› SPK taraf›ndan 20 Aral›k 2004 tarihinde yap›lan duyuru ile uygulanmas› zorunlu k›l›nan formatlarla çeliflen hususlar
haricinde, uygulam›flt›r. Ekli mali tablolar›n onaylanma tarihi itibariyle afla¤›daki standartlar ve yorumlar yay›nlanm›fl ancak yürürlü¤e
girmemifltir.
UMS 1
UFRS 7
UFRS 8
UFRYK 7
UFRYK 8
UFRYK 9
UFRYK 10
UFRYK 11
UFRYK 12
Mali Tablolar›n Sunumu: fiirket Sermayesi Konusunda Kamuya Aç›klanacak ‹lave Hususlar
Finansal Enstrümanlar: Mali Tablo Aç›klamalar›
Faaliyet Kollar›
UMS 29 Yüksek Enflasyonlu Ekonomilerde Finansal Raporlama Standard› Çerçevesinde Düzeltme Yaklafl›m›n›n Uygulanmas›
UFRS 2 Standard›n›n Kapsam›
Sakl› Türevlerin Yeniden De¤erlendirilmesi
Ara Dönem Raporlamas› ve De¤er Düflüklü¤ü
UFRS 2 : Elde Tutulan Grup Hisselerine ‹liflkin ‹fllemler
Hizmet ‹mtiyaz Sözleflmeleri
UFRS 7, Finansal Enstrümanlarla ilgili olarak mali tablolarda mevcut standartlardan daha detayl› dipnotlar verilmesini gerektirecektir.
Bununla beraber finansal enstrümanlar›n s›n›flamas› ve de¤erlemesi ile ilgili herhangi bir düzenleme içermemektedir.
Topluluk Yönetimi, UFRS 7'nin getirece¤i ilave dipnot yükümlülükleri haricinde, sonraki dönemlerde yürürlü¤e girecek standart
ve yorumlar›n gelecek dönemlerde uygulanmas›n›n Topluluk konsolide mali tablolar›na önemli etkisi olmayaca¤›n› düflünmektedir.
101
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
2. BASIS OF THE FINANCIAL STATEMENTS (cont'd)
Comparative Information and Prior Period Financial Statement Correction:
The numerical balances in the financial statements are given comparative with the prior year, when the presentation of financial
statements or the reclassification of a balance changes, the prior year is also adjusted in accordance with the current year.
Offsetting:
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is a legally enforceable
right to set off the recognized amounts and there is an intention to settle on a net basis, or
realize the asset and settle the liability simultaneously.
Adoption of new and revised standards:
In the current year, the Group has adopted all of the new and revised Standards and Interpretations issued by the International
Accounting Standards Board (“IASB”) and the International Financial Reporting Interpretations Committee (“IFRIC”) of the IASB
that are relevant to its operations except for the ones that contradict with the CMB's announcement on 20 December 2004
regarding the obligatory format. At the date of authorization of these financial statements, the following Standards and Interpretations
were in issue but not yet effective.
IAS 1
IFRS 7
IFRS 8
IFRIC 7
IFRIC 8
IFRIC 9
IFRIC 10
IFRIC 11
IFRIC 12
Presentation of Financial Statement :Additional Requirements for Disclosures of the Entity's Capital
Financial Instruments: Disclosures
Operating Segments
Applying the Restatement Approach under IAS 29 Financial Reporting in Hyperinflationary Economies
Scope of IFRS 2
Reassessment of Embedded Derivatives
Interim Financial Reporting and Impairment
Group and Treasury Share Transactions
Service Concession Arrangements
IFRS 7 requires additional disclosures in the financial statements for financial instruments compared to the existing standards.
Nevertheless, it does not include any arrangements related with classification and valuation of financial instruments.
The Group's Management anticipates to the adoption of these Standards and Interpretations in future periods, except additional
disclosure requirements due adoption of IFRS 7,will have no material impact on the consolidated financial statements of the
Group.
102
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
3. UYGULANAN DE⁄ERLEME ‹LKELER‹ /MUHASEBE POL‹T‹KALARI
Ekteki mali tablolar›n haz›rlanmas›nda kullan›lan önemli muhasebe prensipleri afla¤›daki gibidir:
a. Gelirler
Gelirler, al›nan veya al›nacak olan bedelin gerçe¤e uygun de¤eri ile ölçülür ve tahmini müflteri iadeleri, iskontolar ve benzer di¤er
karfl›l›klar kadar indirilir.
Mallar›n sat›fl›
Mallar›n sat›fl›ndan elde edilen gelir, afla¤›daki flartlar karfl›land›¤›nda muhasebelefltirilir:
• Toplulu¤un mülkiyetle ilgili tüm önemli riskleri ve kazan›mlar› al›c›ya devretmesi,
• Toplulu¤un mülkiyetle iliflkilendirilen ve süregelen bir idari kat›l›m›n›n ve sat›lan mallar üzerinde etkin bir kontrolünün olmamas›,
• Gelir tutar›n›n güvenilebilir bir flekilde ölçülmesi,
• ‹fllemle iliflkili olan ekonomik faydalar›n iflletmeye ak›fl›n›n olas› olmas›, ve
• ‹fllemden kaynaklanacak maliyetlerin güvenilebilir bir flekilde ölçülmesi.
b. Stoklar›n de¤erlemesi
Stoklar a¤›rl›kl› ortalama maliyet yöntemine göre maliyetin ya da net gerçekleflebilir de¤erin (piyasa de¤erinden sat›fl giderlerinin
düflülmesi yoluyla hesaplanan de¤er) düflük olan› ile de¤erlenmektedir. Stoklar›n maliyeti tüm sat›n alma maliyetlerini, dönüfltürme
maliyetlerini ve stoklar›n mevcut durumuna ve konumuna getirilmesi için katlan›lan di¤er maliyetleri içerir.
c. Maddi duran varl›klar
Maddi duran varl›klar, 1 Ocak 2005 tarihinden önce sat›n al›nan kalemler için 31 Aral›k 2004 tarihi itibariyle enflasyonun etkilerine
göre düzeltilmifl maliyet de¤erlerinden ve 2005 y›l›nda al›nan kalemler için sat›n al›m maliyet de¤erlerinden birikmifl amortisman
ve kal›c› de¤er kay›plar› düflülerek yans›t›l›r. Maddi duran varl›klar›n herhangi bir parças›n› de¤ifltirmekten do¤an giderler bak›m
onar›m maliyetleri ile birlikte varl›¤›n gelecekteki ekonomik faydas›n› art›r›c› nitelikte ise aktiflefltirilebilirler. Tüm di¤er giderler
olufltukça gelir tablosunda gider kalemleri içinde muhasebelefltirilir. Maddi duran varl›klara iliflkin amortisman ve itfa paylar›,
varl›klar›n faydal› ömürlerine göre varl›klara girifl veya montaj tarihleri esas al›narak eflit tutarl›, do¤rusal amortisman yöntemi
kullan›larak ayr›lm›flt›r. Maddi duran varl›klar›n ortalama ekonomik ömürleri göz önüne al›narak belirlenen amortisman oranlar›
afla¤›da belirtilmifltir:
Binalar
Yeralt› ve yerüstü düzenleri
Makina ve cihazlar
Tafl›tlar
Döfleme ve demirbafllar
Özel maliyetler
50 y›l
5-10 y›l
5-10 y›l
5 y›l
5-10 y›l
5 y›l
Maddi duran varl›k sat›fllar›ndan elde edilen kar ve zararlar, mali tablolarda enflasyona göre düzeltilerek ilgili gelir ve gider
hesaplar›na dahil edilmifltir. Varl›klar›n kay›tl› de¤eri, tahmini ikame de¤erinden daha yüksek oldu¤u takdirde, karfl›l›k ayr›lmak
suretiyle ikame de¤erine indirgenmektedir.
103
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The accounting policies used to prepare the accompanying financial statements are as follows:
a. Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer
returns, rebates, and other similar allowances.
Sale of goods
Revenue from sale of goods is recognized when all the following conditions are satisfied:
• The Group transfers to the buyer all the significant risks and rewards of ownership of the goods to the buyer;
• The Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective
control over the goods sold;
• The amount of revenue can be measured reliably;
• It is probable that the economic benefits associated with the transaction will flow to the entity; and
• The costs incurred or to be incurred in respect of the transaction can be measured reliably.
b. Inventory valuation
Inventories are stated at the lower of cost and net realizable value using the weighted average method. Cost comprises purchase
cost and, where applicable, conversion costs and those overheads that have been incurred in bringing the inventories to their
present locations and conditions.
c. Property, plant and equipment
Property, plant and equipment purchased before 1 January 2005 are carried at indexed historical cost, purchases in 2005 are
carried at historical cost and are presented after depreciation and impairment loss. If changing a part of a tangible asset increases
its economic utility in the future the cost of the change can be capitalized. All other costs are recognized in the expense accounts
in income statement as they are incurred. Property, plant and equipment except land that is deemed to have indefinite life are
depreciated principally on a straight-line basis on their inflation adjusted amounts. Property, plant and equipment are depreciated
over the following useful lives:
Buildings
Land improvements
Machinery and equipment
Vehicles
Furnitue and fixtures
Leasehold improvements
50 years
5-10 years
5-10 years
5 years
5-10 years
5 years
Gains or losses on disposals of tangible assets with respect to their restated amounts are included in the related income and
expense accounts, as appropriate where the carrying amount of an asset is greater than its estimated recoverable amount, it is
written down immediately to its recoverable amount.
104
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
3.UYGULANAN DE⁄ERLEME ‹LKELER‹ / MUHASEBE POL‹T‹KALARI (devam›)
d. Maddi olmayan duran varl›klar
Maddi olmayan duran varl›klar marka kullanma haklar›n› ve di¤er haklar› içermektedir ve 1 Ocak 2005 tarihinden önce sat›n al›nan
kalemler için 31 Aral›k 2004 tarihi itibariyle enflasyonun etkilerine göre düzeltilmifl maliyet de¤erlerinden ve 2005 y›l›nda al›nan
kalemler için sat›n al›m maliyet de¤erlerinden birikmifl itfa paylar› ve kal›c› de¤er kay›plar› düflülerek yans›t›l›r.
Maddi olmayan duran varl›k amortismanlar›, konsolide gelir tablosuna ilgili varl›klar›n tahmini ekonomik ömürleri üzerinden normal
amortisman yöntemi kullan›larak hesaplanmas› sonucu yans›t›l›r. Bu varl›klar›n tahmini ekonomik ömürleri befl ile onbefl y›l
aras›ndad›r.
e. Varl›klar›n de¤er kayb›
Topluluk, ertelenen vergi alaca¤› ve flerefiye d›fl›nda kalan her varl›k için her bir bilanço tarihinde, sözkonusu varl›¤a iliflkin de¤er
kayb›n›n oldu¤una dair herhangi bir gösterge olup olmad›¤›n› de¤erlendirir. E¤er böyle bir gösterge mevcutsa, o varl›¤›n geri
kazan›labilir tutar› tahmin edilir. Kullan›ma uygun olmayan, maddi olmayan duran varl›klarda ise geri kazan›labilir tutar her bir
bilanço tarihinde tahmin edilir. E¤er sözkonusu varl›¤›n veya o varl›¤a ait nakit üreten herhangi bir biriminin kay›tl› de¤eri, kullan›m
veya sat›fl yoluyla geri kazan›lacak tutar›ndan yüksekse de¤er düflüklü¤ü meydana gelmifltir. De¤er düflüklü¤ü kay›plar› gelir
tablosunda muhasebelefltirilir.
Bir varl›kta oluflan de¤er düflüklü¤ü kayb›, o varl›¤›n geri kazan›labilir tutar›ndaki müteakip art›fl›n, de¤er düflüklü¤ünün kay›tlara
al›nmalar›n› izleyen dönemlerde ortaya ç›kan bir olayla iliflkilendirilebilmesi durumunda daha önce de¤er düflüklü¤ü ayr›lan tutar›
geçmeyecek flekilde geri çevrilir.
f. Borçlanma giderleri
Kullan›ma ve sat›fla haz›r hale getirilmesi önemli ölçüde zaman isteyen varl›klar söz konusu oldu¤unda, sat›n al›nmas›, yap›m›
veya üretimi ile direkt iliflki kurulabilen faiz giderleri, ilgili varl›k kullan›ma veya sat›fla haz›r hale getirilene kadar maliyetine dahil
edilmektedir.
Di¤er tüm finansman giderleri, olufltuklar› dönemlerde gelir tablosuna kaydedilmektedir.
g. Finansal araçlar
Finansal varl›klar ilk kay›t tarihinde ifllem tarihi esas›na göre rayiç de¤erleri ile muhasebelefltirilmektedir. ‹lk kay›t tarihinden sonraki
raporlama dönemlerinde, fiirket'in vade sonuna kadar elinde tutma niyet ve gücü olan finansal varl›klar, iskonto edilmifl maliyet
de¤erleri üzerinden de¤er düflüklü¤ü dikkate al›narak de¤erlendirilmektedir.
Vadeye kadar elde tutulacak yat›r›mlar haricinde kalan yat›r›mlar al›m sat›m amaçl› finansal varl›klar ve sat›lmaya haz›r finansal
varl›klar olarak s›n›flan›r ve bilanço tarihindeki rayiç de¤erleri ile de¤erlendirilir. Al›m sat›m amaçl› finansal varl›klardan kaynaklanan
gerçekleflmemifl kar ve zararlar dönem kar zarar›nda muhasebelefltirilir. Sat›lmaya haz›r finansal varl›klardan kaynaklanan
gerçekleflmemifl kar ve zararlar ise, sat›fla ya da sürekli de¤er düflüklü¤üne karar verilene kadar, özkaynaklar alt›nda muhasebelefltirilir
ve sat›flta ya da de¤er düflüklü¤ünde daha önce özkaynaklar içinde oluflan kümülatif kar / zarar dönem kar zarar›na intikal ettirilir.
Aktif bir piyasada oluflmufl piyasa fiyat› olmayan ve di¤er de¤erleme yöntemleri kullan›larak piyasa de¤eri tespit edilemeyen
sat›lmaya haz›r finansal varl›klar ekli konsolide mali tablolarda endekslenmifl maliyet de¤erleri ile gösterilmifltir.
Gerçe¤e uygun de¤er, istekli al›c› ve sat›c›lar›n bir araya geldi¤i piyasalarda bir aktifin baflka bir varl›kla de¤ifltirilebilece¤i veya
bir taahhüdün yerine getirilebilece¤i de¤erdir. Bir finansal enstrüman›n piyasa de¤eri, aktif bir pazar›n mevcudiyeti durumunda,
sat›fltan elde edilebilecek tutara veya sat›n almadan do¤abilecek borca eflittir. Finansal enstrümanlar›n gerçe¤e uygun tahmini
de¤eri Topluluk taraf›ndan piyasalara iliflkin bilgiler ve gerekli de¤erleme yöntemleri kullan›larak belirlenmifltir. Ancak, gerçe¤e
uygun de¤erin belirlenmesinde kullan›lan piyasa verilerinin yorumlanmas›na gerek duyulmaktad›r. Bu nedenle, bu raporda sunulan
tahminler Toplulu¤un varl›klar›n› elden ç›karmas› durumunda cari piyasa koflullar›nda elde edebilece¤i de¤erler olmayabilir.
105
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont'd)
d. Intangible assets
Intangible assets represent trade names and other rights and intangible assets purchased before 1 January 2005 are carried with
their restated cost as of 31 December 2004, and intangible assets that are acquired after 1 January 2005 are carried with their
cost after subtracting accumulated depreciation and impairment.
Amortization is charged to consolidated statement of income on a straight-line basis over the estimated useful lives of intangible
assets. The estimated useful lives are five to fifteen years.
e. Impairment of Assets
At each balance sheet date, the Group reviews the carrying amounts of all of its assets, excluding goodwill and deferred tax, to
determine whether there is any indication that those assets have suffered from an impairment loss. If any such indication exists,
the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any) at each balance
sheet date. Intangible assets are also tested for impairment and, if there is any indication of their usage, the recoverable amount
of the assets is estimated at each balance sheet date. If the book value of these assets or any unit producing cash, belonging to
that asset, are higher than their value of use or their net selling prices, than there is an impairment in the value of these assets.
The impairment losses are recognized in the income statement.
If the impairment loss of an asset is followed by an increase in its recoverable amount which can be also justified by a related
event, the increase in the recoverable amount can be adjusted in the financial statements by reversing the recognized impairment
loss to the extent that the adjustment should not exceed the total amount of the recognized impairment loss.
f. Borrowing Costs
Interest expenses directly attributable to the acquisition, construction or production of qualifying assets, which are assets that
necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets,
until such time as the assets are substantially ready for their intended use or sale.
All other borrowing costs are recorded in the income statement in the period in which they are incurred.
g. Financial Instruments
Financial assets are recognized initially at their fair values on the trade date using the settlement date accounting. For the reporting
periods subsequent to initial recognition, Financial assets that an entity has the positive intention and ability to hold to maturity
are measured at amortized cost considering any impairment.
Investments other than held-to-maturity debt securities are classified as either investments held for trading or as available-forsale, and are measured at subsequent reporting dates at fair value. Where securities are held for trading purposes, gains and
losses arising from changes in fair value are included in profit or loss for the period. For available-for-sale investments, gains and
losses arising from changes in fair value are recognized directly in equity, until the security is disposed of or is determined to be
impaired, at which time the cumulative gain or loss previously recognized in equity is included in the profit or loss for the period.
Impairment losses recognized in profit or loss for equity investments classified as available-for-sale are not subsequently reversed
through profit or loss. Impairment losses recognized in profit or loss for debt instruments classified as available-for-sale are
subsequently reversed if an increase in the fair value of the instrument can be objectively related to an event occurring after the
recognition of the impairment loss.
Fair value is the amount for which an asset could be exchanged or a liability settled, between knowledgeable willing parties in
an arms length transaction. Market value is the amount obtainable from the sale or payable on the acquisition, of a financial
instrument in an active market, if one exists. The estimated fair values of financial instruments have been determined by the
Group using available market information and appropriate valuation methodologies. However, judgment is necessarily required
to interpret market data to develop the estimated fair value. Accordingly, the estimates presented here in may not necessarily
be indicative of the amounts the Group could realize in a current market exchange.
Balances with banks, receivables, contingent liabilities like letters of guarantee and letters of credit are important financial
instruments which would have negative effects on the financial structure of the Company if the other party failed to comply with
the terms and conditions of the agreement.
106
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
3. UYGULANAN DE⁄ERLEME ‹LKELER‹ / MUHASEBE POL‹T‹KALARI (devam›)
g. Finansal araçlar (devam›)
Banka mevduatlar›, alacaklar, teminat mektuplar› ve akreditifler gibi flarta ba¤l› taahhütler karfl› taraf›n anlaflman›n flartlar›n› yerine
getirememesi durumunda, Topluluk finansal durumunu olumsuz yönde etkileyebilecek önemli finansal enstrümanlard›r.
Baz› menkul de¤erlerin maliyet de¤erine eflit olan kay›tl› de¤erlerinin, k›sa vadeli nitelikleri nedeniyle gerçe¤e uygun de¤erlerine
eflit oldu¤u varsay›lmaktad›r.
Afla¤›da her mali enstrüman›n gerçe¤e uygun tahmini de¤erlerini belirlemede kullan›lan yöntemler ve varsay›mlar belirtilmifltir.
Nakit ve nakit benzeri kalemler
Yabanc› para cinsinden olan kasa ve banka bakiyeleri cari dönem sonu kurundan de¤erlenmifllerdir. Bilançodaki nakit ile bankadaki
mevduat›n mevcut de¤eri, bu varl›klar›n gerçe¤e uygun tahmini de¤erleridir.
Ticari alacaklar
Ticari alacaklar, gerçekleflebilir de¤erleriyle, UMS 39 kapsam›nda etkin faiz oran› ile iskonto edilmifl net gerçekleflebilir de¤erlerinden
olas› flüpheli alacaklara iliflkin karfl›l›klar›n düflülmesi suretiyle gösterilmektedir. fiüpheli alacaklara iliflkin karfl›l›klar, Topluluk
Yönetimi'nce tahsil edilemeyen alacaklar›n tutar›, al›nan teminatlar, geçmifl tecrübeler ›fl›¤›nda ve mevcut ekonomik koflullar göz
önünde bulundurularak ayr›lmaktad›r. Tahsil edilemeyecek alacaklar, tahsil edilemeyecekleri anlafl›ld›¤› dönemde zarar kaydedilmektedir.
Kullan›lan krediler
Kullan›lan krediler, kullan›ld›klar› tarihte geçerli olan faiz oranlar›na tabidir. Libor veya Euribor art› sabit bir oranla al›nan krediler
faiz ödeme dönemlerindeki de¤iflime göre de¤erlendirilip yeniden Libor ve Euribor'daki geçerli olan faiz oranlar›ndaki dalgalanmalara
göre de¤iflen faiz oranlar›na tabidir. Banka kredileri elde edilen nakit tutar›ndan muhasebelefltirilir. Finansman giderleri tahakkuk
esas›na göre muhasebelefltirilir ve olufltuklar› dönemde ödenmeyen k›s›m bilançodaki kredi tutar›na eklenir.
Topluluk, ola¤an faaliyetleri s›ras›nda akreditifler vb. gibi bilanço d›fl› riski bulunan finansal enstrümanlar kullanmaktad›r. Toplulu¤un
bu tür enstrümanlardan kaynaklanabilecek zararlar› söz konusu enstrümanlar›n sözleflme tutarlar›na eflde¤erdir.
Tahsilat riski
Toplulu¤un tahsilat riski esas olarak ticari alacaklar›ndan do¤abilmektedir. Ticari alacaklar, Topluluk Yönetimi'nce geçmifl tecrübeler
ve cari ekonomik durum göz önüne al›narak de¤erlendirilmekte ve uygun oranda flüpheli alacak karfl›l›¤› ayr›ld›ktan sonra bilançoda
net olarak gösterilmektedir.
Fiyat riski
Topluluk, faaliyet konusu nedeniyle yabanc› para birimlerinin Yeni Türk Liras› karfl›s›ndaki de¤erlerinin de¤iflimlerine ba¤l› olarak
kur dalgalanmalar›na maruz kalmaktad›r. Toplulu¤un ihracatlar› ve ithalatlar› yabanc› para cinsinden yap›lmaktad›r. Kullan›lan
kredilere iliflkin faiz oranlar›n›n bir bölümü piyasada oluflan faiz oranlar›na paralel olarak de¤iflmektedir. Bu nedenle, Topluluk iç
ve d›fl piyasalarda faiz dalgalanmalar›na da maruz kalmaktad›r. Topluluk, kur ve faiz risklerini s›n›rlamak amac›yla riskten kaç›nma
araçlar›n› (hedging) kullanmamaktad›r.
Likidite riski
Topluluk genellikle k›sa vadeli finansal enstrümanlar›n› nakde çevirerek; örne¤in alacaklar›n› tahsil ederek, menkul k›ymetlerini
elden ç›kararak kendisine fon yaratmaktad›r. Bu enstrümanlardan elde edilen tutarlar gerçe¤e uygun de¤erleriyle kay›tlarda yer
almaktad›r. Topluluk gereken durumlarda, nakit ihtiyac›n› kreditörlerinden ve ortaklar›ndan kredi almak suretiyle sa¤lamaktad›r.
107
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont'd)
g. Financial Instruments (cont'd)
The fair values of certain financial assets carried at cost are considered to be representative of carrying values due to their shortterm nature.
The following methods and assumptions were used to estimate the fair value of each class of financial instrument for which it is
practicable to estimate fair value.
Cash and cash equivalents
Cash and bank balances denominated in foreign currencies are translated at period-end exchange rates. The carrying amounts
of the remaining cash and bank balances are reasonable estimates of their fair values.
Trade receivables
Trade and other receivables, under IAS 39, are measured at initial recognition at fair value, and are subsequently measured at
amortized cost using the effective interest rate method. Appropriate allowances for estimated irrecoverable amounts are recognized
by the Group Management considering the amount of non-collectable receivables, guarantees taken, previous experiences and
existing economical conditions. Irrecoverable amounts are recognized as loss in the period, in which it is clear that no collections
can be made regarding to those amounts.
Borrowings
Borrowings have interest rates that are fixed on an entry value basis. However, borrowings at Libor or Euribor plus mark up are
subject to fluctuation in accordance with the prevailing interest rates in the market. Interest-bearing bank loans and bank overdrafts
are recorded at the proceeds received. Finance charges are accounted for on an accrual basis and added to the carrying amount
of the instrument to the extent they are not settled in the period in which they incurred.
The Group deals with financial instruments with off-balance sheet risk in the normal course of business such as letters of credit,
etc. The Group's exposure to losses arising from these instruments is represented by the contractual amount of those instruments
Credit risk
The Group's credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of
allowances for doubtful receivables, estimated by the Group's management based on prior experience and the current economic
environment.
Price risk
The Group is exposed to exchange rate fluctuations between foreign currencies and the Turkish Lira due to the nature of its
business. Majority of the Group's imports and exports are in foreign currencies. Certain parts of the interest rates related to
borrowings and leasing transactions are based on market interest rates; therefore, the Group is exposed to interest rate fluctuations
in domestic and international markets. The Group does not use any hedging agreements to minimize its foreign currency and
interets rate fluctuation risks.
Liquidity risk
The Group is generally raising funds by liquidating its short-term financial instruments such as collecting its receivables and
disposing of marketable securities. The Group's proceedings from these instruments generally approximate their fair values. The
Group obtains funds from its bankers and its major shareholders, if short of liquidity.
108
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
3. UYGULANAN DE⁄ERLEME ‹LKELER‹ / MUHASEBE POL‹T‹KALARI (devam›)
h. ‹flletme birleflmeleri
Konsolide mali tablolarda, iktisap edilen Toplulu¤un net varl›klar›n›n makul de¤erindeki pay› ile sat›n alma fiyat› aras›ndaki fark›
gösteren pozitif flerefiye ve negatif flerefiye, 31 Mart 2004 tarihinden önce gerçekleflen sat›n almalara iliflkin ise aktiflefltirilmifl
ve do¤rusal amortisman yöntemi kullan›larak faydal› ömrü üzerinden 31 Aral›k 2004 tarihine kadar pozitif flerefiye itfa pay› gider,
negatif flerefiye itfa pay› gelir yaz›lmak suretiyle gelir tablosu ile iliflkilendirilmifltir. UFRS 3 - “‹flletme Birleflmeleri” çerçevesinde
31 Mart 2004 tarihinden sonra gerçekleflen sat›n almalardan kaynaklanan pozitif flerefiye için amortisman muhasebesi uygulanmamakta,
hesaplanan pozitif flerefiye gözden geçirilerek varsa de¤er düflüklü¤ü ayr›lmaktad›r. fierefiyenin de¤er düflüklü¤üne u¤ray›p,
u¤ramad›¤›n›n belirlenmesi, flerefiyenin tahsis edildi¤i nakit üreten birimlerin kullan›m de¤erinin tahminini gerektirir. Kullan›m
de¤erinin hesaplanmas›, iflletmenin nakit üreten birimden kaynaklanmas› beklenen gelecekteki nakit ak›mlar›n›n ölçülmesi ile
bugünkü de¤erin hesaplanmas› için uygun bir iskonto oran›n› gerektirir. Yine ayn› tarihten sonra gerçekleflen sat›n almalara iliflkin
iktisap edilen tan›mlanabilir varl›k ve borçlar›n makul de¤erinde Toplulu¤un pay›n›n iktisap maliyetini aflmas›, di¤er bir ifadeyle
negatif flerefiye oluflmas› söz konusu ise bu tutar olufltu¤u dönemde gelir olarak kaydedilmektedir.
i. Kur de¤ifliminin etkileri
Toplulu¤un yasal kay›tlar›nda, yabanc› para cinsinden (YTL d›fl›ndaki para birimleri) muhasebelefltirilen ifllemler, ifllem tarihindeki
kurlar kullan›larak Yeni Türk Liras›'na çevrilmektedir. Bilançoda yer alan dövize ba¤l› varl›k ve borçlar bilanço tarihinde geçerli olan
kurlar kullan›larak Yeni Türk Liras›'na çevrilmifllerdir. Bu çevrimden ve dövizli ifllemlerin tahsil ve tediyelerinden kaynaklanan
kambiyo kar ve zararlar› gelir tablosunda yer almaktad›r.
j. Hisse bafl›na kazanç
Cari döneme ait hisse bafl›na kazanç hesaplamas›, net dönem kar›ndan veya zarar›ndan adi hisse senedi sahiplerine isabet eden
k›sm›n, dönem içindeki a¤›rl›kl› ortalama adi hisse senedi say›s›na bölünmesiyle hesaplan›r. Dönem içinde ortaklar›n elinde bulunan
a¤›rl›kl› ortalama adi hisse senedi say›s›, dönem bafl›ndaki adi hisse senedi say›s› ve dönem içinde ihraç edilen hisse senedi say›s›n›n
bir zaman a¤›rl›kl› faktör ile çarp›larak toplanmas› sonucu bulunan hisse senedi say›s›d›r.
k. Bilanço tarihinden sonraki olaylar
Bilanço tarihi ile bilançonun yay›m› için yetkilendirme tarihi aras›nda, iflletme lehine veya aleyhine ortaya ç›kan olaylar› ifade eder.
Bilanço tarihi itibariyle söz konusu olaylar›n var oldu¤una iliflkin yeni deliller olmas› veya ilgili olaylar›n bilanço tarihinden sonra
ortaya ç›kmas› durumunda, topluluk söz konusu hususlar› ilgili dipnotlar›nda aç›klamaktad›r. Topluluk; bilanço tarihinden sonraki
düzeltme gerektiren olaylar›n ortaya ç›kmas› durumunda, mali tablolara al›nan tutarlar› bu yeni duruma uygun flekilde düzeltir.
109
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont'd)
h. Business Combinations
Goodwill represents the difference between the purchased assets' purchase cost and the fair value of the underlying net assets.
Goodwill that is acquired before 31 March 2004 is capitalized and amortized using the straight-line method over the estimated
useful life of 20 years before 31 December 2004. Under IFRS 3 “Business Combinations”, amortization using the straight-line
method for goodwill arising from the acquisitions subsequent to 31 March 2004 is no longer applied and the carrying value of
goodwill is reviewed annually for impairment if there is any indications of impairment and an impairment loss should be recognized
in the consolidated statements, if any. For the purpose of impairment testing, a calculation is required for the value in use of each
cash-generating unit which positive goodwill is allocated to. The calculation of value in use requires an appropriate discount rate
for the measurement of expected future cash flows generated by the cash-generating units of the Group and the present value
of those future cash flows. For acquisitions subsequent to the related date, any excess of the Group's interest in the net fair value
of the acquiree's identifiable assets, liabilities and contingent liabilities over the cost of the business combination (known as
negative goodwill) should be recognized immediately in profit or loss.
i. Foreign Currency Transactions
In the statutory accounts of the Group companies, transactions in foreign currencies (currencies other than New Turkish Lira) are
translated into New Turkish Lira at the rates of exchange ruling at the transaction dates. Assets and liabilities denominated in
foreign currencies are translated at the exchange rate ruling at the balance sheet date. Gains and losses arising on settlement
and translation of foreign currency items are included in the statements of income.
j. Earnings Per Share
For the purpose of calculating earnings per share, net profit is divided by the weighted average number of ordinary shares
outstanding during the period. The weighted average number of ordinary shares outstanding during the period is the number of
ordinary shares outstanding at the beginning of the period, adjusted by the number of ordinary shares bought back or issued
during the period multiplied by a time-weighting factor.
k. Subsequent events
Events after balance sheet date are those events, favourable and unfavourable, that occur between the balance sheet date and
the publication date of the balance sheet. Should any evidence about the events that are prior to the balance sheet date or any
related events arise subsequent to the balance sheet date, should be explained in the relevant footnote. The Group restates its
financial statements if such subsequent events arise.
110
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
3. UYGULANAN DE⁄ERLEME ‹LKELER‹ /MUHASEBE POL‹T‹KALARI (devam›)
l. Karfl›l›klar, flarta ba¤l› yükümlülükler ve flarta ba¤l› varl›klar
Toplulu¤un geçmifl olaylardan kaynaklanan mevcut bir yükümlülü¤ünün bulunmas›, bu yükümlülü¤ün yerine getirilmesi için
ekonomik fayda içeren kaynaklar›n iflletmeden ç›kmas›n›n muhtemel olmas› ve söz konusu yükümlülük tutar›n›n güvenilir bir
biçimde tahmin edilebiliyor olmas› durumunda ilgili yükümlülük karfl›l›k olarak mali tablolara al›n›r. fiarta ba¤l› yükümlülükler,
ekonomik fayda içeren kaynaklar›n iflletmeden ç›kma ihtimalinin muhtemel hale gelip gelmedi¤inin tespiti amac›yla sürekli olarak
de¤erlendirmeye tabi tutulur. fiarta ba¤l› yükümlülük olarak iflleme tabi tutulan kalemler için gelecekte ekonomik fayda içeren
kaynaklar›n iflletmeden ç›kma ihtimalinin muhtemel hale gelmesi durumunda, bu flarta ba¤l› yükümlülük, güvenilir tahminin
yap›lamad›¤› durumlar hariç, olas›l›ktaki de¤iflikli¤in oldu¤u dönemin mali tablolar›nda karfl›l›k olarak mali tablolara al›n›r.
Topluluk flarta ba¤l› yükümlülüklerin muhtemel hale geldi¤i ancak ekonomik fayda içeren kaynaklar›n tutar› hakk›nda güvenilir
tahminin yap›lamamas› durumunda ilgili yükümlülü¤ü dipnotlar›nda göstermektedir.
Geçmifl olaylardan kaynaklanan ve mevcudiyeti iflletmenin tam anlam›yla kontrolünde bulunmayan bir veya daha fazla kesin
olmayan olay›n gerçekleflip gerçekleflmemesi ile teyit edilecek olan varl›k, flarta ba¤l› varl›k olarak de¤erlendirilir. Ekonomik fayda
içeren kaynaklar›n iflletmeye girme ihtimalinin yüksek bulunmas› durumunda flarta ba¤l› varl›klar mali tablo dipnotlar›nda aç›klan›r.
m. Muhasebe politikalar›, muhasebe tahminlerinde de¤ifliklik ve hatalar
Muhasebe politikalar›nda yap›lan önemli de¤ifliklikler ve tespit edilen önemli muhasebe hatalar› geriye dönük olarak uygulan›r
ve önceki dönem mali tablolar› yeniden düzenlenir. Muhasebe tahminlerindeki de¤ifliklikler, yaln›zca bir döneme iliflkin ise,
de¤iflikli¤in yap›ld›¤› cari dönemde, gelecek dönemlere iliflkin ise, hem de¤iflikli¤in yap›ld›¤› dönemde hem de gelecek dönemde,
ileriye yönelik olarak uygulan›r.
n. Kiralama ifllemleri
Finansal kiralamayla elde edilen varl›klar, al›m tarihindeki gerçe¤e uygun de¤erleriyle Toplulu¤a ait bir varl›k olarak görülür.
Kiralayana karfl› yükümlülük, bilançoda finansal kiralama yükümlülü¤ü olarak gösterilir. Toplam finansal kiralama taahhütü ile
varl›¤›n gerçe¤e uygun de¤eri aras›ndaki fark›n oluflturdu¤u finansal giderler, her muhasebe dönemine düflen yükümlülü¤ün sabit
faiz oran› ile da¤›t›lmas› suretiyle kiralama süresi boyunca olufltu¤u döneme ait gelir tablosuna kaydedilir.
o. ‹liflkili taraflar
Ekteki mali tablolarda fiirket'in hissedarlar›, konsolide olan ve olmayan flirketleri, bunlar›n yöneticileri ve iliflkili olduklar› bilinen
di¤er gruplar, iliflkili taraflar olarak tan›mlanm›fllard›r.
p. Finansal bilgilerin bölümlere göre raporlanmas›
Topluluk, tek bir üretim alan›nda faaliyet gösterdi¤inden bölümler baz›nda raporlamaya ihtiyaç bulunmamaktad›r.
r. Devlet teflvik ve yard›mlar
fiirket makul de¤erleri ile izlenen parasal olmayan devlet teflvikleri de dahil olmak üzere tüm devlet teflviklerini, elde edilmesi
için gerekli flartlar›n fiirket taraf›ndan yerine getirilece¤ine ve teflvi¤in iflletme taraf›ndan elde edilebilece¤ine dair makul bir
güvence olufltu¤unda mali tablolara al›nmaktad›r.
Devlet teflvikleri nakden veya devlete karfl› olan bir yükümlülü¤ün azalt›lmas› fleklinde elde edilmifl olsa dahi ayn› flekilde mali
tablolarda gösterilmektdir.
111
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont'd)
l. Provisions, Contingent Liabilities, Contingent Assets
The Group shall recognise a provision only when it has a present obligation as a result of a past event, and it is probable that
the entity will be required to transfer economic benefits in settlement; and the amount of the obligation can be estimated reliably.
Contingent liabilities are reviewed consistently to determine whether there is a possibility of an outflow of resources embodying
economic benefits from the company. For items of contingent liabilities, when a future outflow of resources embodying economic
benefits from the company becomes probable, such contingent liabilities, except for the reliable estimate cannot be made, are
recognized as a provision in the financial statements attributable to the period in which the change in the outflow of resources
embodying economic benefits becomes probable. The Group, reflects its related liabilities in the notes to the extent that contingent
liabilities are probable but there is no realiable assumption on the amount of resources embodying economic benefits.
A contingent asset is defined as a possible asset that arises from past events and whose existence will be confirmed only by the
occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity. A contingent
asset is disclosed where an inflow of economic benefits is probable.
m. Changes in Accounting Policies, Accounting Estimates and Errors
Changes in accounting policies or determined accounting errors are applied retroactively and the financial statements of the
previous year are restated. If estimated changes in accounting policies are for only one period, changes are applied on the current
year but if the estimated changes are for the following periods, changes are applied both on the current and following years
prospectively.
n. Financial Leases
Assets held under finance leases are recognized as assets of the Group at their fair values at the date of acquisition. The corresponding
liability to the lessor is included in the balance sheet as a finance lease obligation. Finance costs, which represent the difference
between the total leasing commitments and the fair values of the assets acquired, are charged to the income statement over
the term of the relevant lease so as to produce a constant periodic rate of charge on the remaining balance of the obligations
for each accounting period.
o. Related Parties
For the purpose of the accompanying consolidated financial statements, shareholders of the Company and related companies,
consolidated subsidiary, and the companies related to those companies, their directors and key management personnel and any
groups to which they are known to be related, are considered and referred to as related companies.
p .Segmental Information
Because the Group operates only in one industry, the accompanying financial statements do not include segmental information.
r. Government Grants and Government Assistance
Government grants, including non-monetary grants at fair value, shall not be recognised until there is reasonable assurance that
the Company will comply with the conditions attaching to them and the grants will be received.
The manner in which a grant is received does not affect the accounting method to be adopted in regard to the grant. Thus a grant
is accounted for in the same manner whether it is received in cash or as a reduction of a liability to the government.
112
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
3. UYGULANAN DE⁄ERLEME ‹LKELER‹ / MUHASEBE POL‹T‹KALARI (devam›)
s. Kurum kazanc› üzerinden hesaplanan vergiler
Türk Vergi Kanunu ana fiirket ve ba¤l› ortakl›klar›n›n konsolide bir vergi beyannamesi doldurmas›na izin vermemektedir. Dolay›s›yla,
ekteki mali tablolarda yans›t›lan vergi karfl›l›klar› konsolide edilen flirketleri ayr› tüzel kiflilik baz›nda dikkate alarak hesaplanm›flt›r.
Mali tablolarda yer alan vergiler cari y›l vergisi ile ertelenmifl vergilerdeki de¤iflimi içermektedir. Topluluk, UMS 12'ye (“Vergilendirme”
yeniden düzenlenmifl) uygun olacak flekilde, dönem sonuçlar› üzerinden cari ve ertelenmifl vergileri hesaplamaktad›r.
Haz›rlanan mali tablolarda, Toplulu¤un dönem sonuçlar›na dayan›larak tahmin edilen Kurumlar Vergisi yükümlülü¤ü için karfl›l›k
ayr›lmaktad›r. Kurumlar Vergisi yükümlülü¤ü dönem sonucunun kanunen kabul edilmeyen giderler ve indirimler dikkate al›narak
düzeltilmesinden sonra bulunan matrah üzerinden hesaplanmaktad›r.
Ertelenmifl vergi alaca¤› ve yükümlülü¤ü, baz› gelir ve gider kalemlerinin muhasebe ve vergisel aç›lardan farkl› de¤erlendirilmeleri
sonucunda ortaya ç›kan zamanlama farkl›l›klar›n› baz alarak, yükümlülük metoduna göre hesaplanmaktad›r. Ertelenmifl vergi
yükümlülü¤ü, oluflan vergilendirilebilir tüm zamanlama farkl›l›klar› için hesaplanmakta olup, ertelenmifl vergi alaca¤› ise sadece
ortaya ç›kacak bu alaca¤›n itfa edilebilece¤i, vergilendirilebilir bir kar›n gelecekte oluflmas› beklendi¤inde kay›tlara al›nmaktad›r.
Ertelenmifl vergi, varl›klar›n olufltu¤u veya yükümlülüklerin yerine getirildi¤i dönemde geçerli olan vergi oranlar› üzerinden hesaplan›r
ve gelir tablosuna gider veya gelir olarak kaydedilir. Ödenecek kurumlar vergisi tutarlar›, peflin ödenen kurumlar vergisi tutarlar›yla,
iliflkili oldu¤undan netlefltirilmektedir. Ertelenmifl vergi alaca¤› ve yükümlülü¤ü de ayn› flekilde netlefltirilmektedir.
t. Çal›flanlara sa¤lanan faydalar/k›dem tazminat›:
Türkiye'de mevcut kanunlar ve toplu ifl sözleflmelerine göre k›dem tazminat›, emeklilik veya iflten ç›kar›lma durumunda ödenmektedir.
K›dem tazminat› karfl›l›¤› bilanço tarihi itibar›yla buna hak kazanan bütün çal›flanlar›n ifline son verilmesi varsay›m› ile ödenmesi
gerekecek olan yükümlülü¤ün hesaplanmas›na dayanmaktad›r. Gelecek k›dem tazminat› ödemeleri uygun iskonto oran› ile tahmin
edilen enflasyon oran›n›n neti ile reeskonta tabi tutularak bilanço tarihindeki de¤erine getirilmifltir.
u. Nakit ak›m
Topluluk net varl›klar›ndaki de¤iflimleri, finansal yap›s›n› ve nakit ak›mlar›n›n tutar ve zamanlamas›n› de¤iflen flartlara göre
yönlendirme yetene¤i hakk›nda mali tablo kullan›c›lar›na bilgi vermek üzere, di¤er mali tablolar›n›n ayr›lmaz bir parças› olarak,
nakit ak›m tablolar›n› düzenlemektedir. Döneme iliflkin nakit ak›mlar esas, yat›r›m ve finansman faaliyetlerine dayal› bir biçimde
raporlanmaktad›r.
113
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont'd)
s. Taxation
Turkish tax legislation does not permit a Company and its subsidiary to file a consolidated tax return. Therefore, provisions for
taxes, as reflected in the accompanying consolidated financial statements, have been calculated on a separate-entity basis.
Taxes on income for the year comprise of current tax and the change in deferred taxes. The Group accounts for current and deferred
taxation on the results for the period, in accordance with IAS 12 (“Income Taxes”) (Revised).
Provision is made in the financial statements for the Company's estimated liability to Turkish corporation tax on its results for
the year. The charge for current tax is based on the results for the year as adjusted for items, which are non-assessable or
disallowed.
Deferred tax assets and liabilities are recognized using the liability method in respect of material temporary differences arising
from different treatment of items for accounting and taxation purposes. Deferred tax liabilities are recognized for all taxable
temporary differences and deferred tax assets are only provided to the extent if it is probable that taxable profit will be available
against which the deductible temporary differences can be utilized.
Deferred tax is calculated at the tax rates that are expected to apply to the period when the asset is realized or the liability is
settled and charged or credited in the statement of income. Prepaid corporation taxes and corporation tax liabilities are offset
as they relate to income taxes levied by the same taxation authority. Deferred tax assets and liabilities are also offset.
t. Retirement Pay Provision
Benefits are provided to the Group employees such as; bonuses, change in marital status, permission, and incentive education
etc. Moreover, under the Turkish law and union agreements, lump sum payments are made to employees retiring or involuntarily
leaving the Group. Future retirement payments are discounted to their present value at the balance sheet date at an interest rate
determined as net of an expected inflation rate and an appropriate discount rate.
u. Statement of Cash Flow
The Group prepares statements of cash flow as an integral part of its of financial statements to enable financial statement analysis
about the change in its net assets, financial structure and the ability to direct cash flow amounts and timing according to the
developing conditions. Cash flows for the period are mainly reported depending on the investment and financial operations of
the Group.
114
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
4. HAZIR DE⁄ERLER
31 Aral›k 2006
4.106
327.843
84.131.315
7.373.945
127.536
91.964.745
Kasa
Vadesiz mevduatlar
Vadeli mevduatlar
Bloke vadeli mevduatlar
Tahsile verilen çekler
31 Aral›k 2005
2.079
1.411.615
12.030.000
5.762.118
19.205.812
Bloke mevduatlar, EPDK'ya verilen teminat mektubuna karfl›l›k bankada tutulan vadeli mevduatlard›r.
31 Aral›k 2006 tarihi itibariyle vadeli mevduatlar›n detay› afla¤›daki gibidir:
Para cinsi
YTL
USD
Faiz oran›
%18-%21,05
%4,25- % 5
Vade
Ocak 2007
Ocak 2007
31 Aral›k 2006
59.111.653
32.393.607
91.505.260
31 Aral›k 2005 tarihi itibariyle vadeli mevduatlar›n detay› afla¤›daki gibidir:
Para cinsi
YTL
Faiz oran›
%14,45 -%16,15
Vade
Ocak 2006
31 Aral›k 2005
12.030.000
31 Aral›k 2006
31 Aral›k 2005
-
25.763.033
Döviz Miktar›
268.833
19.000.000
31 Aral›k 2005
268.833
25.494.200
25.763.033
5. MENKUL KIYMETLER
Yoktur
6 F‹NANSAL BORÇLAR
K›sa vadeli banka kredileri
K›sa vadeli banka kredileri afla¤›dakilerden oluflmaktad›r:
Döviz Cinsi
YTL
ABD Dolar›
Faiz Oran›
%5,00 - %5,50
115
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
4. CASH AND BANKS
31 December 2006
4.106
327.843
84.131.315
7.373.945
127.536
91.964.745
Cash
Demand Deposits
Time Deposits
Restricted time deposits
Cheques in collection
31 December 2005
2.079
1.411.615
12.030.000
5.762.118
19.205.812
Restricted time deposits are kept at the bank for the Letter of guarantees given to the Energy Market Regulatory Authority.
The details of time deposits as of 31 December 2006 are as follows:
Currency Type
YTL
USD
Interest Rate
%18-%21,05
%4,25- % 5
Maturity
Ocak 2007
Ocak 2007
31 December 2006
59.111.653
32.393.607
91.505.260
Maturity
January 2006
31 December 2005
12.030.000
31 December 2006
31 December 2005
-
25.763.033
Currency Amount
268.833
19.000.000
31 December 2005
268.833
25.494.200
25.763.033
The details of time deposits as of 31 December 2005 are as follows:
Currency Type
TRY
Interest Rate
%14.45 -%16.15
5. MARKETABLE SECURITIES
None
6. BORROWINGS
Short Term Bank Loans
Short-Term bank loans consist of the following:
Currency Type
TRY
USD
Interest Rate
%5,00 - %5,50
116
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
7. T‹CAR‹ ALACAK VE BORÇLAR
Ticari alacaklar
Di¤er ticari alacaklar
fiüpheli ticari alacaklar karfl›l›¤›
31 Aral›k 2006
1.906.634
2.825.684
(1.303.523)
3.428.795
31 Aral›k 2005
84.960.112
175.278
(1.123.120)
84.012.270
Gerçekleflmesi beklenmeyen tahsilatlar için karfl›l›k ayr›lm›flt›r. Bu karfl›l›k, geçmifl y›l deneyimlerine dayan›larak hesaplanm›flt›r.
fiüpheli alacaklar karfl›l›¤› hareketleri afla¤›daki gibidir:
Aç›l›fl bakiyesi
Tahsilatlar
Dönem gideri
1 Ocak - 31 Aral›k 2006
(1.123.120)
33.869
(214.272)
1 Ocak - 31 Aral›k 2005
608.779)
31.449
(545.790)
(1.303.523)
(1.123.120)
31 Aral›k 2006
1.302.000
(418.159)
5.801
889.642
31 Aral›k 2005
2.245.316
(604.983)
1.640.333
Kapan›fl bakiyesi
UZUN VADEL‹ T‹CAR‹ ALACAKLAR
Di¤er alacak senetleri
Di¤er alacak senetleri reeskontu
Verilen depozito ve teminatlar
Grubun ticari alacaklar› için alm›fl oldu¤u teminatlar afla¤›daki gibidir:
Teminat mektuplar›
Senetler
‹potekler
Di¤er
31 Aral›k 2006
137.501
2.625.510
2.763.011
31 Aral›k 2005
8.181.771
139.672
84.667.293
429.581
93.418.317
31 Aral›k 2006
385.823
31 Aral›k 2005
22.662.178
T‹CAR‹ BORÇLAR
Ticari borçlar
8. F‹NANSAL K‹RALAMA ALACAKLARI VE BORÇLARI
Yoktur
117
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
7. TRADE RECEIVABLES AND PAYABLES
SHORT TERM RECEIVABLES
31 December 2006
1.906.634
2.825.684
(1.303.523)
3.428.795
Trade Receivables
Other Trade Receivables
Allowance for Doubtful Receivables
31 December 2005
84.960.112
175.278
(1.123.120)
84.012.270
For the doubtful receivables provision is made and calculated according to the prior year experiences. The movement of provisions
for doubtful receivables are as follows:
Opening Balance
Collections
Period Charge
1 January - 31 December 2006
(1.123.120)
33.869
(214.272)
1 January - 31 December 2005
(608.779)
31.449
(545.790)
(1.303.523)
(1.123.120)
31 December 2006
1.302.000
(418.159)
5.801
889.642
31 December 2005
2.245.316
(604.983)
1.640.333
Closing Balance
LONG TERM TRADE RECEIVABLES
Other Notes receivables
Discount on other notes receivables
Deposits and guarantees given
The Group holds the following collaterals for the trade receivables:
Letter of guarantees
Notes
Mortgages
Other
31 December 2006
137.501
2.625.510
2.763.011
31 December 2005
8.181.771
139.672
84.667.293
429.581
93.418.317
31 December 2006
385.823
31 December 2005
22.662.178
TRADE PAYABLES
Trade Payables
8. FINANCIAL LEASE RECEIVABLES AND PAYABLES
None
118
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
9. ‹L‹fiK‹L‹ TARAFLARDAN ALACAKLAR VE BORÇLAR
‹liflkili flirketlerden alacaklar
Atafl Anadolu Tasfiyehanesi A.fi.
Socar&Turcas Enerji A.fi
Gerçek kifli ortaklar
‹liflkili flirketlere borçlar
Ambarl› Depolama Hizmetleri Ltd. fiti.
Atafl Anadolu Tasfiyehanesi A.fi.
Shell & Turcas Petrol A.fi.
Gerçek kifli ortaklara ödenecek temettüler
‹liflkili flirketlere sat›fllar
fiirket ortaklar›na ait istasyonlara yap›lan sat›fllar
Ambarl› Depolama Hizmetleri Ltd. fiti.
‹liflkili flirketlerden mal ve hizmet al›mlar›
Ambarl› Depolama Hizmetleri Ltd. fiti.
fiirket ortaklar›
‹liflkili flirketlerden temettü gelirleri
Ambarl› Depolama Hizmetleri Ltd. fiti.
‹liflkili flirketlerden di¤er gelir / (giderler) (net)
Ambarl› Depolama Hizmetleri Ltd. fiti.
Conoco Ltd.
Shell & Turcas Petrol A.fi.
31 Aral›k 2006
31 Aral›k 2005
681.762
8.170
689.932
14.423
434.165
448.588
869.715
273.112
1.142.827
285.711
503.903
7.171
796.785
48.259.089
76.653
48.335.742
94.425.001
282.238
94.707.239
676.619
223.251
899.870
1.412.742
150.747
1.563.489
30.307
20.746
(647)
(470.116)
(470.763)
(202.242)
(67.499)
(269.741)
Cari dönemde, üst düzey yönetime sa¤lanan ücret ve benzeri menfaatlerin tutar› 1.116.215 YTL'dir. (2005: 1.254.000 YTL).
Topluluk y›l içerisinde Akaryak›t Yönetim Sistemi (AYS) Sat›fllar› ile ilgili Shell&Turcas Petrol A.fi.'ye toplam 10.337.758 YTL tutar›nda
arac›l›k faaliyetinde bulunmufltur.
119
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
9. DUE FROM/TO RELATED PARTIES
Due from related parties
Atafl Anadolu Tasfiyehanesi A.fi.
Socar&Turcas Enerji A.fi
Real person shareholders
Due to related parties
Ambarl› Depolama Hizmetleri Ltd. fiti.
Atafl Anadolu Tasfiyehanesi A.fi.
Shell & Turcas Petrol A.fi.
Dividend payable to real person shareholders
Sales to related parties
Sales to stations owned by the shareholders
Ambarl› Depolama Hizmetleri Ltd. fiti.
Purchases from related parties
Ambarl› Depolama Hizmetleri Ltd. fiti.
Shareholders
Dividend income from related parties(net)
Ambarl› Depolama Hizmetleri Ltd. fiti.
Other income and expense from related parties
Ambarl› Depolama Hizmetleri Ltd. fiti.
Conoco Ltd.
Shell & Turcas Petrol A.fi.
31 December 2006
31 December 2005
681.762
8.170
689.932
14.423
434.165
448.588
869.715
273.112
1.142.827
285.711
503.903
7.171
796.785
48.259.089
76.653
48.335.742
94.425.001
282.238
94.707.239
676.619
223.251
899.870
1.412.742
150.747
1.563.489
30.307
20.746
(647)
(470.116)
(470.763)
(202.242)
(67.499)
(269.741)
The amount of fee and similar benefits provided to the key management personnel in the current period is TRY 1.116.215 (2005:TRY
1.254.000).
The Group has conducted transitory role for the sales to Shell&Turcas Petrol A.fi. related to Fuel Management System (FMS)
amounting to TRY 10.337.758.
120
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
10. D‹⁄ER ALACAKLAR VE BORÇLAR
KISA VADEL‹ D‹⁄ER ALACAKLAR
Bayi kredileri
Verilen ifl avanslar›
Peflin ödenen vergi ve fonlar
Devreden KDV
31 Aral›k 2006
197.935
3.473
326.026
1.254.774
1.782.208
31 Aral›k 2005
291.836
298.972
88.568
78.933
758.309
UZUN VADEL‹ D‹⁄ER ALACAKLAR
Bayi kredileri
Bayi kredileri reeskontu
Di¤er
31 Aral›k 2006
-
31 Aral›k 2005
2.985.583
(1.291.627)
3.717
1.697.673
K›sa ve uzun vadeli bayi kredileri, iflletme ve istasyon tamir bak›m çal›flmalar› için istasyon sahiplerine yap›lan ödemeleri içerir.
‹stasyon sahiplerine verilen k›sa ve uzun vadeli kredilerin tahsilat vadeleri afla¤›daki gibidir:
1 y›la kadar
1 - 5 y›l
6 - 10 y›l
11 - 15 y›l
16 - 20 y›l
31 Aral›k 2006
197.935
-
31 Aral›k 2005
291.836
1.216.627
1.197.368
197.935
485.044
86.544
3.277.419
Bayi kredileri, istasyon tamir, bak›m ve yenileme çal›flmalar› için istasyon sahiplerine yap›lan ödemeleri içerir.
KISA VADEL‹ D‹⁄ER YÜKÜMLÜLÜKLER
Ödenecek vergi ve harçlar
Ödenecek SSK primleri
Personele borçlar
Gelecek dönemlere ait gelirler
Di¤er (*)
31 Aral›k 2006
49.395
17.445
170.393
2.291.080
2.528.313
31 Aral›k 2005
6.380.765
195.598
42.562
229.203
6.848.128
(*) Turcas Petrol A.fi'den k›smi bölünme sonucu Shell & Turcas Petrol A.fi.'ye geçen çal›flanlar›n 30 Haziran 2006' ya kadar hak
ettikleri k›dem tazminat› yükümlülük tutar›d›r.
UZUN VADEL‹ D‹⁄ER YÜKÜMLÜLÜKLER
Gelecek dönemlere ait gelirlerin uzun vadeli k›sm›
31 Aral›k 2006
980.000
31 Aral›k 2005
1.150.395
121
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
10. OTHER RECEIVABLES AND PAYABLES
OTHER CURRENT RECEIVABLES
Dealer loans
Business advances given
Prepaid taxes and funds
VAT carried forward
31 December 2006
197.935
3.473
326.026
1.254.774
1.782.208
31 December 2005
291.836
298.972
88.568
78.933
758.309
OTHER LONG TERM RECEIVABLES
Dealer loans
Discount on dealer loans
Others
31 December 2006
-
31 December 2005
2.985.583
(1.291.627)
3.717
1.697.673
The short and long-term dealer loans contain payments made to station owners for repair and maintenance expenses. The maturity
of short and long-term dealer loans given to station owners is as follows:
Within one year
1 - 5 years
6 - 10 years
11 - 15 years
16 - 20 years
31 December 2006
197.935
-
31 December 2005
291.836
1.216.627
1.197.368
197.935
485.044
86.544
3.277.419
Dealer loans comprise payments given to the station owners for repair, maintenance and renewal of stations.
OTHER CURRENT PAYABLES
Taxes and funds payable
Social security premiums payable
Due to personnel
Unrecognized revenue
Others (*)
31 December 2006
49.395
17.445
170.393
2.291.080
2.528.313
31 December 2005
6.380.765
195.598
42.562
229.203
6.848.128
(*) The amount contains the retirement pay provision till to June 30, 2006 which are transferred from Turcas Petrol A.fi to Shell
& Turcas Petrol A.fi after the partial spin-off.
OTHER LONG TERM PAYABLES
Unearned income
31 December 2006
980.000
31 December 2005
1.150.395
122
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
11. CANLI VARLIKLAR
Yoktur
12. STOKLAR
31 Aral›k 2006
380.753
380.753
‹lk madde ve malzeme
Ticari mallar
Di¤er stoklar
31 Aral›k 2005
506.669
25.637.582
205.958
26.350.209
31 Aral›k 2006 tarihi itibariyle stoklar üzerinde sigorta yoktur. (31 Aral›k 2005: 17.242.130 YTL).
13. DEVAM EDEN ‹NfiAAT SÖZLEfiMELER‹ ALACAKLARI VE HAKED‹fi BEDELLER‹
Yoktur
14. ERTELENEN VERG‹ VARLIKLARI VE YÜKÜMLÜLÜKLER‹
Topluluk, vergiye esas yasal mali tablolar› ile UFRS'ye göre haz›rlanm›fl mali tablolar› aras›ndaki farkl›l›klardan kaynaklanan geçici
zamanlama farklar› için ertelenmifl vergi varl›klar› ve yükümlülü¤ü muhasebelefltirmektedir. Söz konusu farkl›l›klar genellikle baz›
gelir ve gider kalemlerinin vergiye esas tutarlar› ile UFRS'ye göre haz›rlanan mali tablolarda farkl› dönemlerde yer almas›ndan
kaynaklanmaktad›r.
Ertelenmifl vergi 31 Aral›k 2006 ve 31 Aral›k 2005 dönemleri için s›ras›yla %20 ve %30 üzerinden afla¤›daki flekilde hesaplanm›flt›r.
31 Aral›k 2006
31 Aral›k 2005
284.897
(190.146)
66.799
161.550
(7.325.917)
(1.638.946)
(2.386.447)
(11.351.310)
56.980
(38.029)
13.360
32.311
1 Ocak - 31 Aral›k 2006
(2.197.775)
(491.684)
(715.934)
(3.405.393)
1 Ocak - 31 Aral›k 2005
(3.405.393)
1.135.130
2.302.574
32.311
(4.367.965)
962.572
(3.405.393)
Ertelenmifl vergiye baz teflkil eden zamanlama farkl›l›klar›:
Maddi duran varl›klar
K›dem tazminat› karfl›l›¤›
Di¤er
Ertelenmifl vergi (aktifleri)/ pasifleri:
Maddi duran varl›klar
K›dem tazminat› karfl›l›¤›
Di¤er
Ertelenmifl vergi (aktifi) / pasifi hareketleri:
Aç›l›fl bakiyesi
Vergi oran›ndaki de¤iflim etkisi
Ertelenmifl vergi gideri
Kapan›fl bakiyesi
123
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
11. BIOLOGICAL ASSETS
None
12. INVENTORIES
31 December 2006
380.753
380.753
Raw materials
Trade goods
Other inventories
31 December 2005
506.669
25.637.582
205.958
26.350.209
As of 31 December 2006, there is not any insurance on inventories. (31 December 2005: TRY 17.242.130).
13. RECEIVABLES FROM ONGOING CONSTRUCTION CONTRACTS
None
14. DEFERRED TAX ASSETS AND LIABILITIES
The Group recognizes deferred tax assets and liabilities based upon temporary differences arising from its financial statements
as reported for IFRS purposes and its statutory tax financial statements. These differences usually result in the recognition of
revenue and expenses in different reporting periods for IFRS and tax purposes.
Deferred tax is calculated on 20% for the periods December 31, 2006 and December 31, 2005 as follows.
31 December 2006
31 December 2005
284.897
(190.146)
66.799
161.550
(7.325.917)
(1.638.946)
(2.386.447)
(11.351.310)
56.980
(38.029)
13.360
32.311
1 January - 31 December 2006
(2.197.775)
(491.684)
(715.934)
(3.405.393)
1 January - 31 December 2005
(3.405.393)
1.135.130
2.302.574
32.311
(4.367.965)
962.572
(3.405.393)
Temporary difference subject to deferred tax:
Tangible fixed assets
Retirement pay provision
Others
Deferred tax (assets) / liabilities:
Tangible fixed assets
Retirement pay provision
Others
Deferred tax liability movement:
Opening balance
Effect of change in tax rate
Deferred tax benefit
Closing balance
124
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
15. D‹⁄ER CAR‹/CAR‹ OLMAYAN VARLIKLAR VE KISA/UZUN VADEL‹ YÜKÜMLÜLÜKLER
D‹⁄ER CAR‹/DÖNEN VARLIKLAR
Peflin ödenmifl giderler
31 Aral›k 2006
682.077
31 Aral›k 2005
2.238.221
D‹⁄ER CAR‹ OLMAYAN/DURAN VARLIKLAR
Peflin ödenmifl giderler
31 Aral›k 2006
-
31 Aral›k 2005
12.454.444
16. F‹NANSAL DURAN VARLIKLAR
%
31 Aral›k 2006
%
31 Aral›k 2005
Konsolidasyona tabi olmayan ba¤l› ortakl›klar
Ambarl› Depolama Hizmetleri Ltd. fiti. (“Ambarl›”)
-
-
50
274.724
Sat›lmaya haz›r finansal varl›klar
Atafl Anadolu Tasfiyehanesi A.fi. (“Atafl”)
5
13.240
5
13.240
30
25
-
344.339.972
12.500
(12.500)
344.353.212
-
287.964
‹fltirakler
Shell &Turcas Petrol A.fi. (*)
Socar & Turcas Enerji A.fi.
Socar & Turcas Enerji A.fi. Sermaye Taahütü (-)
Sat›lmaya haz›r finansal varl›klar aktif bir piyasada oluflmufl piyasa fiyat› olmad›¤› ve di¤er de¤erleme yöntemleri kullan›larak
piyasa de¤eri tespit edilemedi¤i için ekli konsolide mali tablolarda endekslenmifl maliyet de¤erleri ile yer alm›flt›r.
Ambarl› Depolama Hizmetleri Ltd. fiti. 1 Temmuz 2006 tarihinde yeni kurulan Shell&Turcas Petrol A.fi.'ye devredilmifltir.
Socar & Turcas Enerji A.fi. 28 Aral›k 2006 tarihinde kurulmufltur. 31 Aral›k 2006 itibari ile bir faaliyeti bulunmamaktad›r.
The Shell Company of Turkey Ltd. ve Turcas Petrol A.fi. varl›klar›n›n bir k›sm›n› birlefltirerek 1 Temmuz 2006 tarihinde Shell&Turcas
Petrol A.fi.'ni kurmufltur. Turcas Petrol A.fi. yeni kurulan flirketin %30'una sahiptir. Turcas Petrol A.fi.'nin ana faaliyet konusu olan
petrol ve petrol ürünleri al›m›, sat›m›, ihrac› ve ihracat› 1 Temmuz 2006 tarihinden sonra yeni kurulan Shell&Turcas Petrol A.fi.
taraf›ndan yürütülmeye bafllanm›flt›r. fiirket yönetim kurulunun ald›¤› karar ile, Turcas Petrol A.fi.'nin faaliyet konusunun elektrik
ve do¤algaz gibi alanlara kayd›r›lmas›na karar verilmifltir.
125
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
15. OTHER CURRENT / LONG TERM ASSETS AND CURRENT / LONG TERM LIABILITIES
OTHER CURRENT ASSETS
Prepaid expenses
31 December 2006
682.077
31 December 2005
2.238.221
OTHER LONG TERM ASSETS
Prepaid expenses
31 December 2006
-
31 December 2005
12.454.444
16. FINANCIAL ASSETS
%
31 December 2006
%
31 December 2005
Unconsolidated subsidiaries
Ambarl› Depolama Hizmetleri Ltd. fiti. (“Ambarl›”)
-
-
50
274.724
Available for sale financial assets
Atafl Anadolu Tasfiyehanesi A.fi. (“Atafl”)
5
13.240
5
13.240
30
25
-
344.339.972
12.500
(12.500)
344.353.212
-
287.964
Associates
Shell &Turcas Petrol A.fi. (*)
Socar & Turcas Enerji A.fi.
Socar & Turcas Enerji A.fi.Capital Commitment (-)
Available-for-sale investments that do not have a quoted market price in an active market and for which other methods of
reasonably estimating fair value are clearly inappropriate or unworkable are carried at restated cost in the accompanying consolidated
financial statements.
As of July 1, 2006, Ambarl› Depolama Hizmetleri Ltd. fiti. is transferred to newly established Shell&Turcas Petrol A.fi.
Socar & Turcas Enerji A.fi. is established in 28 December 2006. It does not have any operations as of 31 December 2006.
The Shell Company of Turkey Ltd. and Turcas Petrol A.fi. has established Shell & Turcas Petrol A.fi. on July 1, 2006 by merging part
of their assets. Turcas Petrol A.fi. owns %30 of the new company. The main fields of activity of Turcas Petrol A.fi., i.e. purchasing,
selling, export and import of petroleum and petroleum products have started to be undertaken by Shell & Turcas Petrol A.fi. as
of July 1, 2006. As per the resolution of its Board of Directors, Turcas Petrol A.fi. has decided to concentrate on power and gas
businesses as new fields of activity.
126
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
16. F‹NANSAL DURAN VARLIKLAR (devam›)
a) Turcas Petrol A.fi. 1 Temmuz 2006 tarihinde afla¤›da detaylar› belirtilen aktiflerini yeni kurulan Shell&Turcas Petrol A.fi.'ye
devretmifltir.
Maddi duran varl›klar
Maddi olmayan duran varl›klar
Bayi kredileri
Gelecek y›llara ait giderler
Finansal duran varl›k
Turcas Petrol A.fi.'den devredilen varl›klar›n net aktif de¤eri
45.145.882
62.401
2.967.047
11.860.983
274.724
60.311.037
b) 1996 y›l›nda, Marmara'n›n %100 hissesinin ve Turcas Petrolcülük A.fi.'nin %82,16 hissesinin al›m› sonucu ortaya ç›kan flerefiye
1 Temmuz 2006 tarihinde gerçekleflen k›smi bölünme s›ras›nda yokedilmifltir.
K›smi bölünme nedeniyle gider yaz›lan flerefiye
80.809.878
c) Kurulum s›ras›nda flirketin sermayesine ilk kat›l›m pay› olarak 15.000 YTL ödenmifltir.
d) Shell&Turcas Petrol A.fi.'nin 31 Aral›k itibariyle Toplulu¤a ait toplam net varl›klar›, dönem kar› afla¤›daki gibidir;
Shell&Turcas Petrol A.fi. net dönem kar›
Net dönem kar›n›n toplulu¤a düflen k›sm›
Net dönem kar›n›n toplulu¤a düflen tutar› - (not 38)
Shell&Turcas Petrol A.fi. net varl›k tutar›
Net dönem kar›n›n toplulu¤a düflen k›sm›
Turcas Petrol A.fi.'nin ifltirak tutar›
105.835.582
%30
31.750.675
1.147.799.907
%30
344.339.972
e) Shell&Turcas Petrol A.fi.'ye %30 ifltirak etmekten dolay› elde edilen kar afla¤›daki gibidir;
Turcas Petrol A.fi.'nin ifltirak tutar›
Turcas Petrol A.fi.'den devredilen varl›klar›n net aktif de¤eri
Sat›fl nedeniyle gider yaz›lan flerefiye
‹lk kat›l›m pay›
Net dönem kar›n›n toplulu¤a düflen tutar›
Bölünme ifllemi sonucu oluflan kar - (Not 38)
344.339.972
(60.311.037)
(80.809.878)
(15.000)
(31.750.675)
171.453.382
127
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
16. F‹NANCIAL ASSETS (cont'd)
a) The details of Turcas Petrol A.fi.'s assets transferred (as of July 1, 2006) to newly established Shell&Turcas Petrol A.fi.;
Tangible fixed assets
Intangible fixed assets
Dealer loans
Prepaid expenses
Financial assets
Net book value of assets tranferred from Turcas Petrol A.fi.
45.145.882
62.401
2.967.047
11.860.983
274.724
60.311.037
b) Goodwill consisting of direct acquisition of 100% ownership of Marmara and from the direct acquisition of 82,16% of Turcas
Petrolcülük A.fi. was written off during the partial spin-off at July 1, 2006.
Goodwill written off during the partial spin-off
80.809.878
c) During the foundation of new Company, 15.000 TRY capital is paid as the first participation share.
d) As of December 31, 2006 the Group's portion of the total net assets, profit for the period of the Shell&Turcas Petrol A.fi. is
follows;
Shell&Turcas Petrol A.fi net profit for the period
Net profit share for the period attributable to the Group
Net profit for the period attributable to the Group - (note 38)
Shell&Turcas Petrol A.fi. net asset total
Net profit share for the period attributable to the Group
Associate amount of Turcas Petrol A.fi.
105.835.582
%30
31.750.675
1.147.799.907
%30
344.339.972
e) The profit generated from associating to 30% of Shell&Turcas Petrol A.fi. is follows;
Associate amount of Turcas Petrol A.fi.
Net book value of assets tranferred from Turcas Petrol A.fi.
Goodwill written off due to sales
First participation share
Net profit for the period attributable to the Group
Profit generated from spin-off - (Not 38)
344.339.972
(60.311.037)
(80.809.878)
(15.000)
(31.750.675)
171.453.382
128
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
16. F‹NANSAL DURAN VARLIKLAR (devam›)
Toplulu¤un özkaynaktan pay alma yöntemi ile konsolide edilen ifltirak ile ilgili özet mali bilgiler afla¤›da aç›klanm›flt›r:
Shell &Turcas Petrol A.fi.
Toplam varl›klar
Toplam yükümlülükler
Net varl›klar
Net varl›klarda Toplulu¤un pay›
Net sat›fl gelirleri
Dönem kar›
Dönem kar›nda Toplulu¤un pay›
31 Aral›k 2006
1.682.976.518
535.176.611
1.147.799.907
31 Aral›k2005
-
344.339.972
-
3.642.723.621
105.835.582
-
31.750.675
-
17. POZ‹T‹F/NEGAT‹F fiEREF‹YE
1996 y›l›nda, Marmara'n›n %100 hissesinin ve Turcas Petrolcülük A.fi.'nin %82,16 hissesinin al›m› sonucu ortaya ç›kan flerefiye,
bu flirketlerin hisselerinin elde etme maliyetlerinin net aktif toplam›n› aflan k›sm›ndan oluflmaktad›r. fierefiye aktiflefltirilmifl ve
do¤rusal amortisman yöntemi kullan›larak faydal› ömrü üzerinden 31 Aral›k 2004 tarihine kadar itfa pay› gider yaz›lmak suretiyle
gelir tablosu ile iliflkilendirilmifltir. 31 Aral›k 2004'den itibaren, UFRS 3 - “‹flletme Birleflmeleri” çerçevesinde, flerefiye için amortisman
muhasebesi uygulanmamaktad›r. Varolan flerefiye 1 Temmuz 2006 tarihinde gerçekleflen k›smi bölünme s›ras›nda yok edilmifltir.
18. YATIRIM AMAÇLI GAYR‹MENKULLER
Yoktur
129
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
16. F‹NANCIAL ASSETS (cont'd)
The summarized financial informations of the associate of the Group accounted using the equity method is follows;
Shell &Turcas Petrol A.fi.
Total assets
Total liabilities
Net assets
The Group portion over net assets
Net sales revenue
Profit for the period
Net profit for the period attributable to the Group
31 December 2006
1.682.976.518
535.176.611
1.147.799.907
31 December 2005
-
344.339.972
-
3.642.723.621
105.835.582
-
31.750.675
-
17. POSITIVE/NEGATIVE GOODWILL
Goodwill consisting of direct acquisition of 100% ownership of Marmara and from the direct acquisition of 82,16% of Turcas
Petrolcülük A.fi. in 1996 represents the excess of the total acquisition costs over the net assets of these entities at the dates of
acquisitions. Goodwill is related with income statement by recognizing amortization share expense until 31 December 2004 by
using capitalized and straight line depreciation method over useful life. Under IFRS 3, “Business Combinations”, depreciation
accounting is not applied for goodwill since 31 December 2004. The Goodwill is writed off during the partial spin-off as of July
1, 2006.
18. INVESTMENT PROPERTY
None
(12.660.258)
(61.699)
1.016
(12.720.941)
153.329
-
Birikmifl amortismanlar
1 Ocak 2005 aç›l›fl bakiyesi
Dönem gideri
Sat›fllar
31 Aral›k 2005 kapan›fl bakiyesi
31 Aral›k 2005 itibariyle net defter de¤eri 4.863.315
12.825.650
66.904
(20.284)
2.000
12.874.270
4.850.115
13.200
4.863.315
153.329
31 Aral›k 2005 itibariyle net defter de¤eri 4.863.315
Maliyet de¤eri
1 Ocak 2005 aç›l›fl bakiyesi
Al›mlar
Sat›fllar
Transferler
31 Aral›k 2005 kapan›fl bakiyesi
(12.720.941)
12.744.546
(26.763)
(3.158)
-
-
12.874.270
(12.871.112)
3.158
Yerüstü
Düzenler
Arsalar
Yeralt› ve
Arazi ve
4.863.315
(3.297.619)
(1.565.696)
-
Birikmifl amortismanlar
1 Ocak 2006 aç›l›fl bakiyesi
K›smi bölünme sonucu ç›k›fllar
Dönem gideri
Sat›fllar
31 Aral›k 2006 kapan›fl bakiyesi
31 Aral›k 2006 itibariyle net defter de¤eri
Maliyet de¤eri
1 Ocak 2006 aç›l›fl
K›smi bölünme sonucu ç›k›fllar
Al›mlar
Sat›fllar
31Aral›k 2006 kapan›fl bakiyesi
19. MADD‹ DURAN VARLIKLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
7.614.485
(2.768.778)
(211.670)
(2.980.448)
10.577.738
17.195
10.594.933
7.614.485
(2.980.448)
2.886.450
(113.884)
207.882
-
10.594.933
(9.642.804)
(952.129)
-
Binalar
1.553.867
(29.648.741)
(1.178.693)
169.226
(30.658.208)
32.058.573
300.639
(177.725)
30.588
32.212.075
1.553.867
(30.658.208)
15.151.347
(542.136)
3.424.248
(12.624.749)
464.915
32.212.075
(15.767.764)
218.809
(3.573.456)
13.089.664
Cihazlar
Makina ve
Tesis,
57.679
(2.190.672)
(116.696)
148.376
(2.158.992)
2.372.414
(155.743)
2.216.671
57.679
(2.158.992)
2.004.871
(34.516)
7.365
(181.272)
-
2.216.671
(2.035.399)
181.272
132.626
(2.330.174)
(81.530)
3.041
(2.408.663)
2.527.481
17.764
(3.956)
2.541.289
132.626
(2.408.663)
1.071.973
(52.417)
433.243
(955.864)
19.940
2.541.289
(1.135.420)
4.302
(434.367)
975.804
Tafl›tlar Demirbafllar
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
‹stasyon
30.649.729
(81.286.288)
(7.488.129)
2.744.633
(86.029.784)
114.656.267
3.251.370
(2.897.454)
1.669.330
116.679.513
30.649.729
(86.029.784)
89.425.803
(3.636.595)
240.576
-
116.679.513
(116.286.768)
636.843
(1.029.588)
-
Malzemeleri
Toplam
185.574.720
5.181.184
(3.255.162)
187.500.742
50.543.706
5.518.676
50.543.706
- (130.884.911)
(9.138.417)
3.066.292
- (136.957.036)
5.706.482
1.531.307
(1.719.113)
5.518.676
5.518.676
- (136.957.036)
123.284.990
(4.406.311)
4.313.314
- (13.765.043)
484.855
5.518.676
187.500.742
(7.393.985) (168.430.871)
1.875.309
2.735.263
(7.555.236)
14.249.898
Avanslar
Verilen
Yat›r›mlar ve
Olan
Yap›lmakta
130
4.850.115
13.200
4.863.315
4.863.315
Acquisition Cost
Opening balance as of 1 January 2005
Additions
Disposals
Transfers
Closing balance as of 31 December 2005
Accumulated Depreciation
Opening balance as of 1 January 2005
Charge for the period
Disposals
Closing balance as of 31 December 2006
Net book value as of 31 December 2005
153.329
(12.660.258)
(61.699)
1.016
(12.720.941)
12.825.650
66.904
(20.284)
2.000
12.874.270
153.329
4.863.315
Net book value as of 31 December 2005
7.614.485
(2.768.778)
(211.670)
(2.980.448)
10.577.738
17.195
10.594.933
7.614.485
(2.980.448)
2.886.450
(113.884)
207.882
-
1.553.867
(29.648.741)
(1.178.693)
169.226
(30.658.208)
32.058.573
300.639
(177.725)
30.588
32.212.075
1.553.867
(30.658.208)
15.151.347
(542.136)
3.424.248
(12.624.749)
464.915
57.679
(2.190.672)
(116.696)
148.376
(2.158.992)
2.372.414
(155.743)
2.216.671
57.679
(2.158.992)
2.004.871
(34.516)
7.365
(181.272)
-
132.626
(2.330.174)
(81.530)
3.041
(2.408.663)
2.527.481
17.764
(3.956)
2.541.289
132.626
(2.408.663)
1.071.973
(52.417)
433.243
(955.864)
19.940
30.649.729
(81.286.288)
(7.488.129)
2.744.633
(86.029.784)
114.656.267
3.251.370
(2.897.454)
1.669.330
116.679.513
30.649.729
(86.029.784)
89.425.803
(3.636.595)
240.576
-
116.679.513
(116.286.768)
636.843
(1.029.588)
-
(12.720.941)
12.744.546
(26.763)
(3.158)
-
2.541.289
(1.135.420)
4.302
(434.367)
975.804
-
2.216.671
(2.035.399)
181.272
Accumulated Depreciation
Opening balance as of 1 January 2006
Disposals due to partial spin-off
Charge for the period
Disposals
Closing balance as of 31 December 2006
Net book value as of 31 December 2006
32.212.075
(15.767.764)
218.809
(3.573.456)
13.089.664
12.874.270
(12.871.112)
3.158
Acquisition Cost
Opening balance as of 1 January 2006
4.863.315
Disposals due to partial spin-off
(3.297.619)
Additions
Disposals
(1.565.696)
Closing balance as of 31 December 2006
10.594.933
(9.642.804)
(952.129)
-
Station
Equipments
and
Fixtures
Total
185.574.720
5.181.184
(3.255.162)
187.500.742
50.543.706
5.518.676
50.543.706
- (130.884.911)
(9.138.417)
3.066.292
- (136.957.036)
5.706.482
1.531.307
(1.719.113)
5.518.676
5.518.676
- (136.957.036)
123.284.990
(4.406.311)
4.313.314
- (13.765.043)
484.855
5.518.676
187.500.742
(7.393.985) (168.430.871)
1.875.309
2.735.263
(7.555.236)
14.249.898
Given
Advances
Vehicles
and
Equipment
Building
Land
Improvemnts
and
Furniture
in Progress
Construction
Machinery
Land
19. PROPERTY, PLANT AND EQUIPMENT
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
131
132
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
19. MADD‹ DURAN VARLIKLAR (devam›)
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. (Total Oil 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 _ oran›nda hissesine sahiptir.
Bu nedenle Turcas Petrolcülük A.fi. ve Tabafl Petrolcülük A.fi., BP Petrolleri A.fi.'ye 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.'den toplam 1.000.000 ABD Dolar› avans alm›flt›r.
30 Eylül 1999 tarihi itibariyle Tabafl Petrolcülük A.fi., Turcas Petrolcülük A.fi.'yi tüm aktif ve pasifi ile birlikte devir alm›flt›r. Ayn›
tarih itibariyle Tabafl Petrolcülük A.fi.'nin ticari ünvan› Turcas Petrol A.fi. olarak de¤ifltirilmifltir. Dolay›s›yla yukar›da belirtilen
sözleflmeye konu arazi üzerinde fiirket'in sahiplik pay› 1/2'ye yükselmifltir.
1 Temmuz 2006 tarihi itibariyle; k›smi bölünme ifllemi sonucu yap›lmakta olan yat›r›mlar ve verilen avanslar hesaplar› Shell &
Turcas Petrol A.fi.'ye devrolunmufltur (31 Aral›k 2005: 5.518.676 YTL BP Petrolleri A.fi.'ye verilen avans).
31 Aral›k 2005 itibariyle fiirket'in ba¤l› ortakl›klar›ndan Marmara Petrol ve Rafineri ‹flleri A.fi.'nin hisseleri T.Vak›flar Bankas› T.A.O.'ya
fiirket'in zaman zaman kulland›¤› YTL krediler ve teminat mektuplar›na teminat olarak rehin edilmifltir. Buna ek olarak; Marmara
Petrol ve Rafineri ‹flleri A.fi.'ye ait Kocaeli ili Körfez ilçesinde bulunan akaryak›t dolum tesisi 15.000.000 YTL bedelle ayn› bankaya
ipotek edilmifltir. Bu ipotekler 30 Eylül 2006 itibariyle geri al›nm›flt›r.
31 Aral›k 2006 tarihi itibariyle, maddi duran varl›klar üzerindeki sigorta tutar› 9.100.133 YTL'dir (31 Aral›k 2005: 26.203.581 YTL).
Turcas Petrol A.fi.'nin yüzde yüz sahibi bulundu¤u Marmara Petrol ve Rafineri ‹flleri A.fi.'nin Kocaeli ili, Körfez ilçesinde bulunan
35.805 metrekare arsa ve üzerindeki tesis 21.500.000 USD bedelle Lukoil Eurasia Petrol A.fi.'ye 3 Kas›m 2006 tarihinde sat›lm›flt›r.
Not 38'de gösterildi¤i gibi bu sat›fltan kaynaklanan kar 24.086.474 YTL'dir.
133
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
19. PROPERTY, PLANT AND EQUIPMENT (cont'd)
On 17 August 1995, an agreement was signed between four companies; 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 the Filling Establishment of BP Petrolleri A.fi. in the
Ambarl› region jointly. According to this agreement, each company has _ shares on the land and other assets. 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 between BP Petrolleri A.fi. and the third parties (around 600 partners) about the ownership of the land on which
the establishment was built, Turcas Petrolcülük A.fi. obtained USD 1.000.000 from BP Petrolleri A.fi. and Selyak Petrol Ürünleri
Üretim ve Pazarlama A.fi. to sell its own land to the other companies if this dispute can not be solved.
Turcas Petrolcülük A.fi was taken over by Tabafl Petrolcülük A.fi with all its assets and liabilities as of 30 September 1999. The
name of the company was changed to Turcas Petrol A.fi as of the merger date. Accordingly, the ownership portion of the Company
on the above mentioned land has increased to 1/2.
As of 1 July 2006, due to partial spin-off construction in progress and advances given accounts are transferred to Shell & Turcas
Petrol A.fi. (31 December 2005: TRY 5.518.676 advance given to BP Petrolleri A.fi. and TRY 230.476 construction in progress).
The Company's subsidiary, Marmara Petrol ve Rafineri ‹flleri A.fi. shares are pledged to T. Vak›flar Bankas› T.A.O. with a pledge
agreement against the guarantee given by T. Vak›flar Bankas› T.A.O. In addition to this, depot of Marmara Petrol ve Rafineri ‹flleri
A.fi. which is located in the Körfez district of Kocaeli is mortgaged to T. Vak›flar Bankas› T.A.O. with an amount of TRY 15.000.000.
These sahers have been unpledged as of 30 September 2006.
Property, plant and equipment are insured to the extent of TRY 9.100.133 as of 31 December 2006 (31 December 2005: TRY
26.203.581).
The 35.805 m2 land and facility in Kocaeli, Körfez which were belong the Marmara Petrol ve Rafineri ‹flleri A.fi. were sold to Lukoil
Eurasia Petrol A.fi. is amounting to 21.000.000 USD as of November 3, 2006. As explained note 38, the profit generated from
this sale is 24.086.474 TRY.
134
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
20. MADD‹ OLMAYAN DURAN VARLIKLAR
Maliyet de¤eri
1 Ocak 2006 aç›l›fl bakiyesi
K›smi bölünme sonucu ç›k›fllar
Al›mlar
31 Aral›k 2006 kapan›fl bakiyesi
57.104.705
(28.347.474)
39.501
28.796.732
Birikmifl itfa paylar›
1 Ocak 2006 aç›l›fl bakiyesi
K›smi bölünme sonucu ç›k›fllar
Dönem gideri
31 Aral›k 2006 kapan›fl bakiyesi
(54.438.278)
28.285.073
(1.832.986)
(27.986.191)
31 Aral›k 2006 itibariyle net defter de¤eri
810.541
Maliyet de¤eri
1 Ocak 2005 aç›l›fl bakiyesi
Al›mlar
31 Aral›k 2005 kapan›fl bakiyesi
57.044.733
59.972
57.104.705
Birikmifl itfa paylar›
1 Ocak 2005 aç›l›fl bakiyesi
Dönem gideri
31 Aral›k 2005 kapan›fl bakiyesi
(49.536.929)
(4.901.349)
(54.438.278)
31 Aral›k 2005 itibariyle net defter de¤eri
2.666.427
Maddi olmayan duran varl›klar ticari ünvanlar›n kullan›lma, bilgisayar yaz›l›m, istasyon kurma haklar›ndan oluflmaktad›r.
21. ALINAN AVANSLAR
Al›nan avanslar
Al›nan avanslar›n uzun vadeli k›sm›(*)
31 Aral›k 2006
1.459.438
1.459.438
31 Aral›k 2005
440.781
737.694
1.178.475
(*)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. (Total Oil A.fi.) taraf›ndan ortaklafla kullan›lmas› için bu dört flirket aras›nda
bir sözleflme yap›lm›flt›r. 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.'den toplam 1.000.000 ABD Dolar›
avans alm›flt›r.
135
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
20. INTANGIBLE ASSETS
Acquisition cost
Opening balance as of 1 January 2006
Disposals due to partial spin-off
Additions
Closing balance as of 31 December 2006
57.104.705
(28.347.474)
39.501
28.796.732
Accumulated amortization
Opening balance as of 1 January 2006
Disposals due to partial spin-off
Charge for the year
Closing balance as of 31 December 2006
(54.438.278)
28.285.073
(1.832.986)
(27.986.191)
Net book value as of 31 December 2006
810.541
Acquisition cost
Opening balance as of 1 January 2005
Additions
Closing balance as of 31 December 2005
57.044.733
59.972
57.104.705
Accumulated amortization
Opening balance as of 1 January 2005
Charge for the year
Closing balance as of 31 December 2005
(49.536.929)
(4.901.349)
(54.438.278)
Closing balance as of 31 December 2005
2.666.427
Intangible assets comprise rights of usage of trade names, computer softwares and station establishment rights.
21. ADVANCES RECEIVED
Advances received-short term
Advances received-long term(*)
31 December 2006
1.459.438
1.459.438
31 December 2005
440.781
737.694
1.178.475
(*)On 17 August 1995, an agreement was signed between four companies; 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 the Filling Establishment of BP Petrolleri A.fi. in the
Ambarl› region jointly. According to this agreement, each company has _ shares on the land and other assets. However, due to
a dispute between BP Petrolleri A.fi. and the third parties (around 600 partners) about the ownership of the land on which the
establishment was built, Turcas Petrolcülük A.fi. obtained USD 1.000.000 from BP Petrolleri A.fi. and Selyak Petrol Ürünleri Üretim
ve Pazarlama A.fi. to sell its own land to the other companies if this dispute can not be solved.
136
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
22. EMEKL‹L‹K PLANLARI
Yoktur
23. BORÇ KARfiILIKLARI
BORÇ KARfiILIKLARI (KISA VADEL‹ YÜKÜMLÜLÜKLER)
Kurumlar vergisi karfl›l›¤›
Peflin ödenmifl vergi ve fonlar
EPDK ceza karfl›l›¤›
EPDK katk› provizyonu
Kullan›lmam›fl izin karfl›l›klar›
Dava karfl›l›¤›
Di¤er tahakkuk ve yükümlülükler
31 Aral›k 2006
9.722.134
(9.722.134)
1.129.000
430.488
169.967
358.727
2.088.182
31 Aral›k 2005
19.381.860
(14.331.819)
787.849
589.420
358.727
203.317
6.989.354
Kurumlar Vergisi:
Topluluk, Türkiye'de geçerli olan kurumlar vergisine tabidir. Toplulu¤un cari dönem faaliyet sonuçlar›na iliflkin tahmini vergi
yükümlülükleri için ekli mali tablolarda gerekli karfl›l›klar ayr›lm›flt›r.
Türk Vergi Kanunu ana fiirket ve ba¤l› ortakl›klar›n›n konsolide bir vergi beyannamesi doldurmas›na izin vermemektedir. Dolay›s›yla,
ekteki mali tablolarda yans›t›lan vergi karfl›l›klar› konsolide edilen flirketleri ayr› tüzel kiflilik baz›nda dikkate alarak hesaplanm›flt›r.
Vergiye tabi kurum kazanc› üzerinden tahakkuk ettirilecek kurumlar vergisi oran›, ticari kazanc›n tespitinde gider yaz›lan vergi
matrah›ndan indirilemeyen giderlerin eklenmesi ve yurtiçinde yerleflik flirketlerden al›nan temettüler, vergiye tabi olmayan gelirler
ve kullan›lan yat›r›m indirimleri düflüldükten sonra kalan matrah üzerinden hesaplanmaktad›r.
2006 y›l›nda uygulanan efektif vergi oran› %20'dir (2005: %30).
Türkiye'de geçici vergi üçer ayl›k dönemler itibariyle hesaplanmakta ve tahakkuk ettirilmektedir. 2006 y›l› kurum kazançlar›n›n
geçici vergi dönemleri itibariyle vergilendirilmesi aflamas›nda kurum kazançlar› üzerinden hesaplanmas› gereken geçici vergi oran›
%20'dir. (2005: %30). 2006 y›l›n›n 1'inci geçici vergi döneminde %30 oran›na göre hesaplanan ve tahsil edilen geçici verginin
an›lan dönem için %20 oran›na göre hesaplanan tutar› aflan k›sm›, izleyen dönemler için hesaplanan geçici vergiden mahsup edilir.
Zararlar, gelecek y›llarda oluflacak vergilendirilebilir kardan düflülmek üzere, maksimum 5 y›l tafl›nabilir. Ancak oluflan zararlar
geriye dönük olarak, önceki y›llarda oluflan karlardan düflülemez.
Türkiye'de vergi de¤erlendirmesiyle ilgili kesin ve kati bir mutabakatlaflma prosedürü bulunmamaktad›r. fiirketler ilgili y›l›n hesap
kapama dönemini takip eden y›l›n 1-25 Nisan tarihleri aras›nda vergi beyannamelerini haz›rlamaktad›r. Vergi Dairesi taraf›ndan
bu beyannameler ve buna baz olan muhasebe kay›tlar› 5 y›l içerisinde incelenerek de¤ifltirilebilir.
Gelir Vergisi Stopaj›:
Kurumlar vergisine ek olarak, da¤›t›lmas› durumunda kar pay› elde eden ve bu kar paylar›n› kurum kazanc›na dahil ederek beyan
eden tam mükellef kurumlara ve yabanc› flirketlerin Türkiye'deki flubelerine da¤›t›lanlar hariç olmak üzere kar paylar› üzerinden
ayr›ca gelir vergisi stopaj› hesaplanmas› gerekmektedir. Gelir vergisi stopaj› 24 Nisan 2003 tarihinden itibaren tüm flirketlerde
%10 olarak uygulanmaktad›r. Bu oran, 5520 Say›l› Kanun'un 15'inci Maddesi'nde 21 Haziran 2006 tarihinden geçerli olmak üzere
%15 olarak belirlenmifltir. Ancak yeni Bakanlar Kurulu Karar› ile de¤ifltirilinceye kadar %10 oran› uygulanm›flt›r. 23 Temmuz 2006
tarihinde Resmi Gazete'de yay›mlanan Bakanlar Kurulu Karar› ile 23 Temmuz 2006 tarihinden itibaren gelir vergisi stopaj›n›n
%10'dan %15'e ç›kart›lmas›na karar verilmifltir. Da¤›t›lmay›p sermayeye ilave edilen kar paylar› gelir vergisi stopaj›na tabi de¤ildir.
137
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
22. RETIREMENT BENEFITS
None
23. PROVISIONS
PROVISIONS (SHORT TERM LIABILITIES)
Corporate tax accrual
Prepaid taxes and funds
Energy Market Regulatory Board fine accrual
Energy Market Regulatory Board contribution provision
Unused vacation accrual
Legal cases
Other accruals and liabilities
31 December 2006
9.722.134
(9.722.134)
1.129.000
430.488
169.967
358.727
2.088.182
31 December 2005
19.381.860
(14.331.819)
787.849
589.420
358.727
203.317
6.989.354
Corporate Tax:
The Group is subject to Turkish corporation taxes. Provision is made in the accompanying financial statements for the estimated
charge based on the Group's results for the year.
Turkish tax legislation does not permit the Company and its subsidiaries to file a consolidated tax return. Therefore, provisions
for taxes, as reflected in the accompanying consolidated financial statements, have been calculated on a separate-entity basis.
Corporation tax is applied on taxable corporate income, which is calculated from the statutory accounting profit by adding nondeductible expenses, and by deducting dividends received from resident companies, other exempt income and investment
incentives utilized.
The effective tax rates are as follows:
- In 2005 : %30
- In 2006 : %20
In Turkey, advance tax returns are filed on a quarterly basis. The advance corporate income tax rate was decreased to 20% for
2006 (2005: 30%). The excess temporary tax paid of corporate income that was calculated at the rate of 30% during the taxation
of the corporate income in temporary taxation periods after January 2006 over 20% will be deducted from future temporary tax
returns
Losses can be carried forward for offset against future taxable income for up to 5 years. Losses cannot be carried back for offset
against profits from previous periods.
In Turkey there is no procedure for a final and definitive agreement on tax assessments. Companies file their tax returns till April
15th of the following year. Tax authorities may, however, examine such returns and the underlying accounting records and may
revise assessments within five years.
Income Withholding Tax:
In addition to corporate taxes, companies should also calculate income withholding taxes and funds surcharge on any dividends
distributed, except for companies receiving dividends who are resident companies in Turkey and Turkish branches of foreign
companies. The rate of income withholding tax is 10% starting from April 24, 2003. This rate was changed to 15% with the code
numbered 5520 article 15 commencing from 21.06.2006. However, until the resolution of Council of Ministers, it was used as
10%. After the resolution declared in official gazette on July 23, 2006, this rate is changed to 15% commencing from July 23 2006.
Undistributed dividends incorporated in share capital are not subject to income withholding taxes.
138
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
23. BORÇ KARfiILIKLARI (devam›)
Gelir Vergisi Stopaj› (devam›)
24 Nisan 2003 tarihinden önce al›nm›fl yat›r›m teflvik belgelerine istinaden yararlan›lan yat›r›m indirimi tutar› üzerinden %19,8
vergi tevkifat› yap›lmas› gerekmektedir. Bu tarihten sonra yap›lan teflvik belgesi yat›r›m harcamalar›ndan flirketlerin üretim
faaliyetiyle do¤rudan ilgili olanlar›n %40'› vergilendirilebilir kazançtan düflülebilir. Yararlan›lan teflvik belgesiz yat›r›m harcamalar›ndan
vergi tevkifat› yap›lmamaktad›r.
Yat›r›m indirimi uygulamas› 1 Ocak 2006 tarihinden geçerli olmak üzere yürürlükten kald›r›lm›flt›r. Ancak, flirketlerin vergilendirilebilir
kazançlar›n›n yetersiz olmas› sebebiyle, 31 Aral›k 2005 tarihi itibariyle yararlanamad›¤› yat›r›m indirimi tutar› sonraki y›llarda elde
edilecek vergilendirilebilir kazançlardan düflülmek üzere sonraki y›llara tafl›nabilir. Ayr›ca kurumlar›n Gelir Vergisi Kanunu'nun mülga
19'uncu Maddesi kapsam›nda 1 Ocak 2006 tarihinden önce bafllanan yat›r›mlarla ilgili olarak, yat›r›mla iktisadi ve teknik bak›mdan
bütünlük arz edip bu tarihten sonra yap›lan yat›r›mlar ve 24 Nisan 2003 tarihinden önce yap›lan müracaatlara istinaden düzenlenen
yat›r›m teflvik belgeleri kapsam›ndaki 1 Ocak 2006 tarihinden sonra yap›lan yat›r›mlar üzerinden hesaplayacaklar› yat›r›m
indirimlerinden yararlanabilir. Bununla birlikte, yat›r›m indirimini sadece 2006, 2007 ve 2008 y›llar›na ait kazançlar›ndan indirebilir.
2008 y›l› kurum kazanc›ndan indirilemeyen yat›r›m indirimi tutar›n›n sonraki dönemlere devri mümkün de¤ildir.
fiirketlerin 2006, 2007 ve 2008 y›llar›n›n kurumlar vergisi hesab›nda, tafl›nan yat›r›m indirimini vergilendirilebilir kazançlar›ndan
düfltükleri takdirde uygulayacaklar› kurumlar vergisi oran› %30 olacakt›r. Tafl›nan yat›r›m indiriminden faydalan›lmamas› durumunda
ise kurumlar vergisi oran› %20 olarak dikkate al›nacak ve faydalan›lmayan yat›r›m indirimi hakk› ortadan kalkacakt›r.
Enflasyona Göre Düzeltilmifl Vergi Hesaplamas›:
2003 y›l› ve önceki dönemlerde, sabit k›ymetlerin ve buna ba¤l› olarak amortismanlar›n›n senelik olarak yeniden de¤erlemeye
tabi tutulmalar› haricinde; vergiye esas dönem kar› enflasyona göre düzeltilmifl tutarlar› üzerinden hesaplanmamaktayd›. 30 Aral›k
2003 tarih ve 25332 Say›l› Resmi Gazete'de yay›mlanan 5024 Say›l› Kanun ile Türkiye'de enflasyon muhasebesi uygulamas›n›n
2004 y›l› ve sonraki dönemlerde geçerli olacak flekilde; enflasyon oran›n›n kanunda belirlenen s›n›rlara ulaflmas› durumunda
uygulanmas› gerekmektedir. Vergi mevzuat›ndaki enflasyon muhasebesi ilkeleri UMS 29 hükümlerinden önemli ölçüde farkl›l›k
göstermemektedir. 2004 y›l› için enflasyon belirli kriterleri aflt›¤› için, 5024 Say›l› Kanun'a göre Topluluk enflasyon düzeltmesi
yapm›fl olup bu bakiyeler 1 Ocak 2005 tarihi itibariyle yasal kay›tlar için aç›l›fl bakiyesi olarak al›nm›flt›r. 2005 y›l› ve takip eden
dönemde kanunun belirledi¤i kriterler gerçekleflmedi¤i için enflasyon muhasebesi uygulanmam›flt›r.
BORÇ KARfiILIKLARI (UZUN VADEL‹ YÜKÜMLÜLÜKLER)
K›dem Tazminat› Karfl›l›¤›
31 Aral›k 2006
190.146
31 Aral›k 2005
1.638.946
K›dem Tazminat› Karfl›l›klar›:
Yürürlükteki ‹fl Yasas› hükümleri uyar›nca, çal›flanlardan k›dem tazminat›na hak kazanacak flekilde ifl sözleflmesi sona erenlere hak
kazand›klar› yasal k›dem tazminatlar›n›n ödenmesi yükümlülü¤ü vard›r. Ayr›ca, halen yürürlükte bulunan 506 say›l› Sosyal Sigortalar
Kanunu'nun 6 Mart 1981 tarih, 2422 say›l› ve 25 A¤ustos 1999 tarih, 4447 say›l› yasalar ile de¤iflik 60'›nc› maddesi hükmü gere¤ince
k›dem tazminat›n› alarak iflten ayr›lma hakk› kazananlara da yasal k›dem tazminatlar›n› ödeme yükümlülü¤ü bulunmaktad›r.
31 Aral›k 2006 tarihi itibariyle ödenecek k›dem tazminat›, her hizmet y›l› için bir ayl›k maafl üzerinden 1.857,44 YTL (31 Aral›k
2005: 1.727,15 YTL) tavan›na tabidir. K›dem tazminat› tavan› alt› ayda bir revize olup, Toplulu¤un k›dem tazminat› karfl›l›¤›n›n
hesaplanmas›nda 1 Ocak 2007 tarihinden itibaren geçerli olan 1.960,69 YTL olan tavan tutar› göz önüne al›nm›flt›r. K›dem tazminat›
yükümlülü¤ü zorunluluk olmad›¤›ndan dolay› herhangi bir fonlamaya tabi de¤ildir.
139
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
23. PROVISIONS (cont'd)
Income Withholding Tax (cont'd)
Withholding tax at the rate of 19,8% is still applied to investment allowances relating to investment incentive certificates obtained
prior to April 24 2003. Subsequent to this date, companies can deduct 40% of the investments within the scope of the investment
incentive certificate and that are directly related to production facilities of the company. The investments without investment
incentive certificates do not qualify for tax allowance.
The application of the investment incentive has been abolished as of 1.1.2006. However, if the companies taxable incomes are
less than the amount of the investment incentive, the amount which are not used as of December 31, 2005; can be carried to
future periods. In addition to this, the carried investment incentive amount can be used only for 2006, 2007, 2008 incomes. It is
not possible to carry the investment incentive amount which is not used in the 2008 corporate profit.
The companies' corporate tax rate will be % 30, while using the investment incentive for 2006, 2007, 2008 incomes. If they do
not use the investment incentive, the tax rate will be %20 and the right of using the unused investment incentive has been
abolished.
Inflation adjusted tax calculation:
For 2003 and the previous years, taxable profits were calculated without any inflation adjustment to the statutory records, except
that fixed assets and the related depreciation were revalued annually. Law No. 5024 published in the Official Gazette No. 25332
on 30 December 2003 requires the application of inflation accounting in Turkey in 2004 and future years for tax purposes, if the
actual rate of inflation meets certain thresholds, using principles which do not differ substantially from the principles in IAS 29
“Financial Reporting in Hyperinflationary Economies”. As inflation met certain thresholds in 2004, the Group adjusted its statutory
financial statements as of 31 December 2004 in accordance with Law No. 5024 and inflation adjusted balances as at 31 December
2004 were taken as the opening balances as of 1 January 2005. However, as inflation did not meet the required thresholds in
2005 and the following years, no further inflation adjustment made to the Group's statutory financial statements.
PROVISIONS (LONG TERM LIABILITIES)
Retirement pay provision
31 December 2006
190.146
31 December 2005
1.638.946
Retirement Pay Provision:
Under Turkish Labor Law, the Group is required to pay employment termination benefits to each employee who has qualified for
such benefits. Also, employees are required to be paid their retirement pay provisions who are entitled to receive retirement pay
provisions in accordance with Law numbered 2242 and dated 6 March 1981 and numbered 4447 and dated 25 August 1999 of
the existing Social Insurance Law No: 506 including the amended Article 60 of the related Law .
The amount payable consists of one month's salary limited to a maximum of TRY 1.857,44 (31 December 2005: TRY 1.727,15)
for each period of service at 31 December 2006. As the maximum liability is revised semi annually, the maximum amount of YTL
1.960,69 effective from 1 January 2007 has been taken into consideration in the calculation of provision based on employment
termination benefits. The liability is not funded, as there is no funding requirement.
140
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
23. BORÇ KARfiILIKLARI (devam›)
K›dem Tazminat› Karfl›l›klar› (devam›)
K›dem Tazminat› yükümlülü¤ü, flirketin çal›flanlar›n emekli olmas›ndan do¤an gelecekteki olas› yükümlülü¤ün bugünkü de¤erinin
tahminine göre hesaplan›r. Yeniden düzenlenmifl UMS 19 “Çal›flanlara Sa¤lanan Haklar”, flirketin yükümlülüklerini tan›mlanm›fl
fayda planlar› kapsam›nda aktüeryal de¤erleme yöntemleri kullan›larak hesaplanmas›n› öngörür. Buna uygun olarak, toplam
yükümlülüklerin hesaplanmas›nda kullan›lan aktüeryal varsay›mlar afla¤›da belirtilmifltir.
Esas varsay›m, her hizmet y›l› için olan azami yükümlülü¤ün enflasyona paralel olarak artmas›d›r. Dolay›s›yla, uygulanan iskonto
oran›, gelecek enflasyon etkilerinin düzeltilmesinden sonraki beklenen reel faiz oran›n› ifade eder. Sonuçta, 31 Aral›k 2006 ve
31 Aral›k 2005 tarihleri itibariyle, ekli konsolide mali tablolarda yükümlülükler, çal›flanlar›n emeklili¤inden kaynaklanan gelece¤e
ait olas› yükümlülü¤ünün bugünkü de¤eri tahmin edilerek hesaplan›r. Bilanço tarihindeki karfl›l›klar y›ll›k %5 enflasyon oran› ve
%11 iskonto oran› varsay›m›na göre, yaklafl›k %5,71 gerçek iskonto oran› ile hesaplanm›flt›r (2005: s›ras›yla %6,175, %12 ve
%5,49). ‹ste¤e ba¤l› iflten ayr›lmalar neticesinde ödenmeyip, Toplulu¤a kalacak olan k›dem tazminat› tutarlar›n›n tahmini oran›
da dikkate al›nm›flt›r.
Aç›l›fl bakiyesi
Birleflme sonucu ayr›lan çal›flanlara ait yükümlülük
Dönem gideri
Faiz maliyeti
Kapan›fl bakiyesi
1 Ocak -31 Aral›k 2006
1.638.946
(2.291.080)
752.364
89.916
190.146
1 Ocak - 31 Aral›k 2005
1.309.519
257.403
72.024
1.638.946
24. ANA ORTAKLIK DIfiI PAYLAR/ANA ORTAKLIK DIfiI KAR ZARAR
Yoktur
25. SERMAYE / KARfiILIKLI ‹fiT‹RAK SERMAYE DÜZELTMES‹
31 Aral›k 2006 ve 31 Aral›k 2005 itibariyle sermaye yap›s› afla¤›daki gibidir:
Ortaklar
Aksoy Petrol Da¤. Yat›r›mlar› A.fi.
Halka aç›k k›s›m
Aksoy Holding A.fi.
Erdal Aksoy
Y›lmaz Tecmen
Di¤er
Sermaye
(%)
%28,52
%28,43
%23,03
%20,02
31 Aral›k 2006
29.946.967
29.853.676
24.176.996
21.022.361
(%)
%28,52
%30,79
%19,86
%5,04
%15,79
31 Aral›k 2005
29.946.967
32.331.297
20.851.813
5.292.477
16.577.446
%100,00
105.000.000
%100,00
105.000.000
141
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
23. PROVISIONS (cont'd)
Retirement Pay Provision (cont'd)
The provision has been calculated by estimating the present value of the future probable obligation of the Group arising from
the retirement of the employees. Revised IFRS 19 “Employee Benefits” require actuarial valuation methods to be developed to
estimate the Group's obligation under defined benefit plans. Accordingly the following actuarial assumptions were used in the
calculation of the total liability.
The principal assumption is that maximum liability for each year of service will increase in line with inflation. Thus, the discount
rate applied represents the expected real rate after adjusting for the anticipated effects of future inflation. Consequently, in the
accompanying consolidated financial statements as of 31 December 2006 and 31 December 2005, provision has been calculated
by estimating the present value of the future probable obligation of the Company arising from the retirement of the employees.
Provisions at the respective balance sheet were calculated assuming an annual inflation rate of 5% and a discount rate of 11%,
the real discount rate is approximately %5,71. (2005: in order 6,175%, 12% and 5,49%). The anticipated rate of forfeitures is
considered.
1 January - 31 December 2006
Opening balance
1.638.946
Indemnity of terminated employees due to spin-off
(2.291.080)
Charge for the period
752.364
Interest cost
89.916
Closing balance
1 January - 31 December 2005
1.309.519
257.403
72.024
190.146
1.638.946
24. MINORITY SHARE/ MINORITY INCOME/LOSS
None
25. CAPITAL
As of December 31, 2006 and December 31, 2005 the outstanding share capital of the Company is as follows:
Shareholders
Aksoy Petrol Da¤. Yat›r›mlar› A.fi.
Halka aç›k k›s›m
Aksoy Holding A.fi.
Erdal Aksoy
Y›lmaz Tecmen
Other
Capital
(%)
%28,52
%28,43
%23,03
%20,02
31 December 2006
29.946.967
29.853.676
24.176.996
21.022.361
(%)
%28,52
%30,79
%19,86
%5,04
%15,79
31 December 2005
29.946.967
32.331.297
20.851.813
5.292.477
16.577.446
%100,00
105.000.000
%100,00
105.000.000
142
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
26. SERMAYE YEDEKLER‹
31 Aral›k 2006
66.837.343
Özsermaye enflasyon düzeltmesi farklar›
31 Aral›k 2005
66.837.343
27. KAR YEDEKLER‹
Yasal yedekler Türk Ticaret Kanunu'na göre ayr›lan birinci ve ikinci tertip yasal yedeklerden oluflmaktad›r. Birinci tertip yasal
yedekler, tüm yedekler tarihi (enflasyona göre endekslenmemifl) ödenmifl sermayenin %20'sine eriflene kadar, geçmifl dönem
ticari kar›ndan y›ll›k %5 oran›nda ayr›l›r. ‹kinci tertip yasal yedekler, birinci tertip yasal yedek ve temettülerden sonra, tüm nakdi
temettü da¤›t›mlar› üzerinden y›ll›k %10 oran›nda ayr›l›r.
31 Aral›k 2006 ve 31 Aral›k 2005 tarihleri itibariyle kar yedekleri hesaplar› afla¤›daki gibidir:
Yasal yedekler
Ola¤anüstü yedekler
31 Aral›k 2006
6.549.811
191.991
6.741.802
31 Aral›k 2005
690.838
445.882
1.136.720
31 Aral›k 2006
487.788
31 Aral›k 2005
-
28. GEÇM‹fi YIL KAR/ZARARLARI
Geçmifl y›l karlar›
29. YABANCI PARA POZ‹SYONU
31 Aral›k 2006
Haz›r de¤erler
Ticari alacaklar
Di¤er alacaklar
Al›nan avanslar
Net yabanc› para pozisyonu
31 Aral›k 2005
Haz›r de¤erler
Ticari alacaklar
Maddi duran varl›klar (verilen avanslar)
K›sa vadeli finansal borçlar
Al›nan avanslar
Net yabanc› para pozisyonu
USD EUR
23.036.843
491.600
60.000
1.000.000
Di¤er Yabanc› Paralar
350
-
Toplam
88
-
YTL
32.381.476
690.993
84.336
1.405.600
34.562.405
USD EUR
153
580.000
4.112.890
(19.000.000)
(523.300)
Di¤er Yabanc› Paralar
(3.200)
Toplam
90
-
YTL
208
778.244
5.518.676
(25.494.200)
(707.244)
(19.904.316)
143
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
26. CAPITAL RESERVES
Shareholder's equity inflation adjustment differences
31 December 2006
66.837.343
31 December 2005
66.837.343
27. PROFIT RESERVES
According to the Turkish Commercial Code, legal reserves consist of first and second legal reserves. The first legal reserves,
appropriated out of historical statutory profit at the rate of 5% per annum, until the total reserve reaches %20 of the historical
paid in share capital. The second legal reserve is appropriated after the first legal reserves and dividends, at the rate of 10% per
annum of all cash distributions.
As of December 31, 2006 and December 31, 2005 profit reserves are as follows:
Legal reserves
Extraordinary reserves
31 December 2006
6.549.811
191.991
6.741.802
31 December 2005
690.838
445.882
1.136.720
31 December 2006
487.788
31 December 2005
-
28. RETAINED EARNINGS
Retained earnings
29. FOREIGN CURRENCY POSITION
31 December 2006
Cash and banks
Trade receivables
Other receivables
Advances received
Net foreign currency position
USD EUR
23.036.843
491.600
60.000
1.000.000
Other FX Type
350
-
Total
88
-
TRY
32.381.476
690.993
84.336
1.405.600
34.562.405
31 December 2005
USD EUR
Cash and banks
153
Trade receivables
580.000
Property, plant and equipment (advances given) 4.112.890
Short term borrowings
(19.000.000)
Advances received
(523.300)
Net foreign currency position
Other FX Type
(3.200)
Total
90
-
TRY
208
778.244
5.518.676
(25.494.200)
(707.244)
(19.904.316)
144
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
30. DEVLET TEfiV‹K VE YARDIMLARI
Yoktur
31. KARfiILIKLAR, fiARTA BA⁄LI VARLIK VE YÜKÜMLÜLÜKLER
Turcas Petrol A.fi. ile ilgili flarta ba¤l› varl›k ve yükümlülükler
a) 31 Aral›k 2006 tarihi itibariyle toplam 114.890.483 YTL verilen teminat mektubu bulunmaktad›r (31 Aral›k 2005: 73.536.411
YTL).
b) Ankara'daki bir benzin istasyonunun patlamas› sonucu aç›lan dava karara ba¤lanm›flt›r. fiirket'in yükümlülü¤ü 358.727 YTL'dir.
Karar Topluluk taraf›ndan temyiz edilmifltir. Ekli mali tablolarda söz konusu tutar için karfl›l›k ayr›lm›flt›r.
c) 31 Aral›k 2005 itibariyle, fiirket'in ba¤l› ortakl›klar›ndan Marmara Petrol ve Rafineri ‹flleri A.fi.'nin hisseleri T.Vak›flar Bankas›
T.A.O.'ya fiirket'in zaman zaman kulland›¤› YTL krediler ve teminat mektuplar›na teminat olarak rehin edilmifltir. Buna ek olarak;
Marmara Petrol ve Rafineri ‹flleri A.fi.'ye ait Kocaeli ili Körfez ilçesinde bulunan akaryak›t dolum tesisi 15.000.000 YTL bedelle
T.Vak›flar Bankas› T.A.O'ya ipotek edilmifltir. Turcas Petrol A.fi.'ye ait Alia¤a dolum tesisi 8.000.000 YTL bedelle Finansbank A.fi.'ye,
Kocaeli ili Körfez ilçesinde bulunan akaryak›t dolum tesisi ise 15.000.000 ABD Dolar› bedelle yine Finasbank A.fi.'ye ipotek edilmifltir.
Bu ipotekler 30 Haziran 2006 itibariyle iptal edilmifltir.
Enerji Piyasas› Düzenleme Kurulu ile ilgili Davalar
Enerji Piyasas› Düzenleme Kurulu'nun 31 A¤ustos 2006 tarihinde yap›lan toplant›s›nda, fiirket'e; lisans› olmayan akaryak›t bayilerine
akaryak›t ikmali yaparak Petrol Piyasas› Kanunu'nun 7. maddesinin ikinci f›kras›nda düzenlenen lisans faaliyet s›n›r›n› aflt›¤› için
Kanunun 19'uncu maddesinin ikinci f›kras›n›n (a) bendinin (4) numaral› alt bendi ile “Petrol Piyasas› Kanununun 19 Maddesi
Uyar›nca 1/1/2005 Tarihinden ‹tibaren Uygulanacak Para Cezalar› Hakk›nda Tebli¤” gere¤i 113.599.140 YTL idari para cezas›
uygulanmas› kararlaflt›r›lm›flt›r. Bu cezalara iliflkin olarak EPDK kararlar›n›n iptali ve yürütmenin durdurulmas› talebi ile 19.09.2006
tarihinde Dan›fltay 13. Dairesinde 2006/4287E say›l› dava aç›lm›flt›r. Dan›fltay 15. Dairesi 17 Kas›m 2006 tarihinde 113.599.140
YTL'lik idari para cezas›n›n 714.460 YTL'lik k›sm›n›n yürütmesini durdurmufl fakat geri kalan 112.884.680 YTL için yürütmeyi durdurma
istemini reddetmifltir.
Enerji Piyasas› Düzenleme Kurumu taraf›ndan fiirket aleyhinde uygulanan idari para cezalar› ile ilgili ödeme emiri, fiirket'in ba¤l›
bulundu¤u Mecidiyeköy Vergi Dairesi taraf›ndan 02.11.2006 tarihinde tebli¤ edilmifltir. fiirket taraf›ndan söz konusu ödeme
emirlerinin iptali ve yürütmenin durdurulmas› talebiyle Dan›fltay ‹dari Daireleri Kurulu nezdinde 11 Aral›k 2006'da davalar aç›lm›flt›r.
Dan›fltay ‹dari Dava Daireleri Kurulu yap›lan itiraz üzerine fiirket'e uygulanan para cezas›n›n tamam›n›n 25 Ocak 2007 tarihinde
yürütmesinin durdurulmas›na karar vermifltir. Yürütmenin durdurulmas›na iliflkin gerekçeli kararlar 28 fiubat 2007 tarihinde fiirket'e
tebli¤ edilmifltir.
145
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
30. GOVERNMENT GRANTS AND INCENTIVES
None
31. COMMITMENTS AND CONTINGENCIES
Commitments and Contingencies related to Turcas Petrol A.fi.
a) There is a letter of guarantee amounting to 114.890.483 YTL in total as of 31 December 2006 (31 December 2005: 73.536.411
YTL).
b) The law suit initiated as a result of the explosion in a filling station in Ankara has been concluded. The company's liability is
358.727 YTL. The Group has appealed against the decision. The Group provided a provision for the related amount in the
accompanying financial statements.
c) As of 31 December 2005, the shares of Marmara Petrol ve Rafineri ‹flleri A.fi., a subsidiary of the Company, were put in pledge
as security for the YTL credits and letters of guarantee used by the Company from time to time in T. Vak›flar Bankas› T.A.O.
Additionally, the fuel oil filling facility in Körfez District of Kocaeli, pertaining to Marmara Petrol ve Rafineri ‹flleri A.fi. was mortgaged
to T. Vak›flar Bankas› T.A.O. against the sum of 15.000.000 YTL. Alia¤a Filling Facility pertaining to Turcas Petrol A.fi. was mortgaged
to Finansbank A.fi. against the sum of 8.000.000 YTL, and the fuel oil filling station in Körfez District of Kocaeli was mortgaged to
Finansbank A.fi. against 15.000.000 USD. The mentioned mortgages have been cancelled as of 30 June 2006.
Law Suits Regarding the Energy Market Regulatory Board
In the meeting of Energy Market Regulatory Board held in 31 August 2006 it was decided that administrative fine amounting to
TRY 113.599.140 should be entered into force in accordance with the subparagraph (4) of paragraph "a" of the second clause of
the Article 19 of the Petrol Market Law and “The Communiqué on Fines to Be Applied Starting From 1/1/2005 in accordance with
the Article 19 of Petrol Market Law” for exceeding the license activity limit arranged in the second clause of the Article 7 of Petrol
Market Law by supplying fuel oil to dealers that don't have license. Regarding these fines, the lawsuit No: 2006/4287E was filed
in the State Council Office 13 on September 19, 2006 with the request of annulment of the decisions of EPDK and stay of execution.
State Council Office 15 decided on the stay of execution of the portion amounting to 714.460 YTL of the administration fine
amounting to 113.599.140 YTL, however, it rejected the motion for stay for the remaining 112.884.680 YTL.
The payment order regarding the administrative fines applied against the Company by the energy Market Regulatory Institution
was notified by Mecidiyeköy Tax Administration where the Company is affiliated on November 2, 2006. Law suits within State
Council Administrative Offices Board were initiated by the Company on December 11, 2006 as a request for the cancellation of
the said payment orders and for stay of execution.
Upon the appeal, the State Council Administrative Offices Board decided to fully stop the execution of the fine applied to the
Company on January 25, 2007. The reasoned decisions regarding the stay of execution were notified to the Company on February
28, 2007.
146
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
31. KARfiILIKLAR, fiARTA BA⁄LI VARLIK VE YÜKÜMLÜLÜKLER (devam›)
Enerji Piyasas› Düzenleme Kurulu ile ilgili Davalar (devam›)
Söz konusu davalar ile Enerji Piyasas› Düzenleme Kurumu taraf›ndan uygulanan idari para cezalar›n›n iptali ve yürütmenin
durdurulmas›na iliflkin olarak daha önce Dan›fltay nezdinde aç›lm›fl bulunan davalar›n ödeme emirlerinde belirtilen sürenin sona
erdi¤i 09 Kas›m 2006 tarihinde henüz sonuçlanmam›fl olmalar› nedeniyle, fiirket'in açm›fl oldu¤u davalardan kaynaklanan tüm
haklar› sakl› kalmak kayd›yla, yani bu davalardan herhangi birisi için yürütmeyi durdurma karar› al›nmas› halinde ifllemden kalkmas›
koflulu ile, söz konusu idari para cezalar›n›n tecil ve taksitlendirilmesi talebiyle 09 Kas›m 2006 tarihinde Maliye Bakanl›¤›'na
Mecidiyeköy Vergi Dairesi kanal›yla baflvuruda bulunulmufltur. Maliye Bakanl›¤› 2006 y›l› Aral›k ay›nda bafllamak ve ilk iki taksit
miktar olarak küçük olmak üzere, 18 ayl›k süreyle taksitlendirme talebini kabul etmifltir. Buna göre 2006 y›l› Aral›k ay› taksiti için
toplam 1.129.000 YTL'lik ödeme (49.046 YTL'lik k›sm› mahsuplaflma, kalan 1.079.954 YTL'si ise nakden yap›lmak suretiyle)
gerçeklefltirilmifltir. ‹dari para cezas›n›n Ocak ay›nda ödenen taksidi için ekli mali tablolarda 1.129.000 YTL tutar›nda karfl›l›k
ayr›lm›flt›r. Bu tutar fiirket taraf›ndan Ocak 2007'de ödenmifltir.
Enerji Piyasas› Düzenleme Kurumu taraf›ndan fiirket aleyhinde uygulanan para cezas›n›n tahsili için Mecidiyeköy Vergi Dairesi
Müdürlü¤ü'nce gönderilen ödeme emrinin iptali ve yürütmenin durdurulmas› talebiyle ‹stanbul 7. ‹dare Mahkemesi nezdinde
fiirket'in açm›fl bulundu¤u davada mahkemece fiirket'in yürütmenin durdurulmas› talebinin reddine karar verilmifl ve bu karar
aleyhinde fiirket taraf›ndan ‹stanbul Bölge ‹dare Mahkemesi nezdinde yap›lan itiraz baflvurusunu inceleyen ‹stanbul Bölge ‹dare
Mahkemesi 05 fiubat 2007 tarih ve 2007/394 say›l› karar›yla itiraz›n kabulüne ve ‹stanbul 7. ‹dare Mahkemesi'nin verdi¤i yürütmenin
durdurulmas› talebinin reddine iliflkin karar›n›n kald›r›larak yürütmenin durdurulmas› talebinin teminats›z olarak kabulüne karar
vermifl bulunmaktad›r. Söz konusu karar fiirket taraf›ndan ilgili vergi dairesine gere¤i için tebli¤ ettirilmifltir. Bu karar do¤rultusunda
3. ve di¤er taksit ödemeleri yap›lmayacakt›r.
Enerji Piyasas› Düzenleme Kurulu (EPDK) taraf›ndan fiirket'e uygulanan ‹dari Para Cezalar›n›n iptali ve yürütmenin durdurulmas›
talebiyle fiirket'in açm›fl bulundu¤u davalar üzerine Dan›fltay 13. Dairesi'nin Yürütmeyi Durdurma talebini ret eden karar›na Dan›fltay
‹dari Dava Daireleri Kurulu nezdinde fiirket taraf›ndan yap›lan itiraz kurulca kabul edilerek dava konusu ifllemin 112.884.680 YTL'lik
k›sm›n›n yürütmesinin durdurulmas›na iliflkin gerekçeli karar› 28 fiubat 2007 tarihinde fiirket'e tebli¤ edilmifltir.
31 Aral›k 2006 tarihli konsolide mali tablolar›n kamuya aç›klanma tarihi itibariyle konu ile ilgili hukuki süreç ve davalar ile ilgili
nihai sonuç üzerindeki belirsizlik devam etmektedir. Ekli mali tablolarda konu ile ilgili sadece idari para cezas›n›n Ocak ay›nda
ödenen taksidi için 1.129.000 YTL tutar›nda karfl›l›k ayr›lm›flt›r.
Shell&Turcas Petrol A.fi. ile ilgili Turcas Petrol A.fi.'nin flarta ba¤l› varl›k ve yükümlülükleri
a) Topluluk, Türkpetrol Vakf›'na birinci y›l sonunda ve ikinci y›l sonunda 350.000 USD lisans bedeli ödeyecektir. Ödenecek bu tutarlar
Shell&Turcas Petrol A.fi'ye rücu edilecektir. Mevcut lisans sözleflmesinin, bedel ve süre maddesi d›fl›ndaki maddeler aynen kalacak
ve markalar, 1 Temmuz 2007 tarihinden itibaren 2 y›l 9 ay süre ile Shell&Turcas Petrol A.fi. taraf›ndan kullan›lacakt›r. Bu sürenin
sonunda lisans hakk› sona erecek ve keyfiyet Türk Patent Enstitüsü'ne bildirilecektir.
147
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
31. COMMITMENTS AND CONTINGENCIES (cont’d)
Law Suits Regarding the Energy Market Regulatory Board (cont'd)
As the said law suits and the lawsuits initiated within State Council previously in relation with the cancellation of the administrative
fines applied by the Energy Market Regulatory Institution as well as with the stay of execution were not concluded on 09 November
2006, the expiration date for the period specified in the payment orders; provided that all of the rights of the Company as a result
of the initiated law suits were reserved, in other words; without prejudice to any decision regarding the stay of execution to be
given in any of these law suits, the same would be cancelled, an application was filed to the Ministry of Finance through Mecidiyeköy
Tax Administration for the postponement and installment requests regarding the said administrative fines on 09 November 2006.
The request regarding the 18-months installments to be started in December 2006 and initial two installments being small in
amount, was accepted by the Ministry of Finance. According to this, a total payment of 1.129.000 YTL (49.046 YTL being offsetting,
the remaining 1.079.954 YTL being in cash) was realized for the installment of December 2006. As for the installment of January
paid for the administrative fine, a provision amounting to 1.129.000 YTL is allocated in the attached financial statements. This
sum was paid by the Company in January 2007.
In the lawsuit initiated by the Company at Istanbul 7th Administrative Court with the request of the cancellation of the payment
order sent by Mecidiyeköy Tax Administration Directorate for the collection of the fine applied against the company by Energy
Market Regulatory Institution and for stay of execution; the court decided to reject the request for stay of execution by the
Company; and ‹stanbul Regional Administrative Court, examining the application for objection filed at ‹stanbul Regional Administrative
Court by the Company, decided to accept the objection with the decree numbered 2007/494, dated 05 February 2007, and to
accept the request for stay of execution without any indemnity, by canceling the decision regarding the rejection of the request
for stay of execution by Istanbul 7th Administrative Court. The said decision was notified to the related tax administration by
the Company. In accordance with this decision, the 3rd and the other installment payments shall not be executed.
Upon the lawsuits initiated by the Company with the request for the cancellation of the administrative fines applied to the Company
by the energy Market Regulatory Board and for the stay of execution, the objection made by the Company at State Council
Administrative Lawsuit Offices Board, to the decision regarding the rejection of the request for stay of execution by the State
council 13th Office, was accepted by the board, and the reasoned decision regarding the stay of execution of 112.884.680 YTL
of the proceedings in subject of the lawsuit was notified to the Company on 28 February 2007.
As of the date of public announcement of the consolidated financial statements dated 31 December 2006, the ambiguity regarding
the judicial process related to the subject and the final result in relation with the law suits still continues. As for the installment
paid only in January for the administrative fine, a provision amounting to 1.129.000 YTL is allocated in the attached financial
statements.
Commitments and Contingencies related to Turcas Petrol A.fi. regarding Shell&Turcas Petrol A.fi.
a) The Group shall pay the Turkpetrol Foundation 350.000 USD license price after the first and the second year. These payable
amounts shall be revoked to Shell&Turcas Petrol A.fi. All articles of the existing license contract except for the articles relating to
price and duration shall remain the same, and the brands shall be used by Shell&Turcas Petrol A.fi. for 2 years and 9 months as
of 1 July 2007. After this period the license right shall be terminated and the condition shall be notified to Turkish Patent Institute.
148
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
31. KARfiILIKLAR, fiARTA BA⁄LI VARLIK VE YÜKÜMLÜLÜKLER (devam)
Shell&Turcas Petrol A.fi. ile ilgili Turcas Petrol A.fi.'nin flarta ba¤l› varl›k ve yükümlülükleri (devam›)
b) Turcas Petrol A.fi.'nin, gerekli hükümet onaylar›n› ve yasal onaylar› elde etmesi flart›na ba¤l› olarak, Shell & Turcas Petrol A.fi
hisselerini Shell Türkiye'ye satma izni veren sat›m opsiyonu bulunmaktad›r. Bu sat›m opsiyonu, Turcas Petrol A.fi.'ye, Ortak Giriflim
fiirketi'nin sat›m opsiyonunun kullan›ld›¤› tarihten önceki 2 y›ll›k dönem içerisinde Turcas'a ve ba¤l› flirketlerine ödedi¤i veya Ortak
Giriflim Sözleflmesi'ne uygun olarak al›koydu¤u toplam kümülatif kar pay›n›n 40 milyon ABD Dolar›ndan az olmas› halinde Turcas
hisselerinin tamam›n›, k›smi bölünme iflleminin tamamlanmas› ve varl›klar›n Ortak Giriflim fiirketi'ne devrinin üçüncü y›ldönümü
ile yedinci y›ldönümü aras›nda herhangi bir zamanda, toplam 150 milyon ABD Dolar› bedelle (Shell Türkiye'nin o tarihte Ortak
Giriflim fiirketi hissedar› olmas› kayd›yla) Shell Türkiye'ye satma hakk› tan›maktad›r. Ayr›ca, söz konusu sat›m opsiyonu yukar›da
söz edilen kümülatif kar da¤›t›m› flart›na tabi olmaks›z›n k›smi bölünme iflleminin tamamlanarak varl›klar›n Ortak Giriflim fiirketi'ne
devrini takip eden yedinci y›l›n sonundan itibaren 30 günlük bir süre içinde kullan›labilecektir ve Turcas'›n elindeki Ortak Giriflim
fiirketi hisselerinin tamam› için Shell Türkiye taraf›ndan ödenecek toplam tutar 150 milyon Amerikan Dolar› olacakt›r.
c) Turcas taraf›ndan verilen tazminat taahhütleri flu konularla ba¤lant›l› her türlü yükümlülü¤e iliflkindir:
(a) k›smi bölünme iflleminin tamamlanmas›nda yürürlükte olan ve Erdal Aksoy taraf›ndan Türkiye Petrol Rafinerileri A.fi.("Tüprafl")
lehine, Tüprafl taraf›ndan Turcas'a Tüprafl petrol ürünlerinin stok al›m›yla ilgili olarak verilen kredinin teminat› olarak verilen
toplamda azami 60.000.000 YTL'lik flahsi garanti ve / veya di¤er teminatlar (bu teminat 31.12.2006 itibariyle kapanm›flt›r);
(b) e¤er mevcut garanti ya da di¤er teminatlar Ortak Giriflim fiirketi'ne devredilmifl olsayd› Ortak Giriflim fiirketi'nin sorumlulu¤u
daha büyük olacakt› ise, Ortak Giriflim fiirketi'nin sorumlulu¤unun daha büyük oldu¤u ölçüde, herhangi bir bayinin Ortak Giriflim
fiirketi'ne borçlu oldu¤u tutarlar›n tazmin ettirilmesi;
(c) perakende sat›fl istasyonlar›n›n "Shell" markas› ile yeniden markalanmas›;
(d) BP ve Total'in Turcas'a %50 oranda mevcut olan hakk› için ödeme yapt›klar›, Ambarl›'da bulunan ve Turcas taraf›ndan edinilmifl
olan arsa parseli (“Ambarl› Arsas›”) üzerindeki herhangi bir hakk›n BP ve Total'e devri hususunda, Ortak Giriflim fiirketi böyle bir
devri tamamlamak zorunda kal›rsa, Turcas Ortak Giriflim fiirketi'ne hangisinin miktar› daha az ise onu ödemek zorundad›r: (i)
1.000.000 Amerikan Dolar›; ve (ii) Ambarl› Arsas›'n›n devir s›ras›ndaki rayiç piyasa de¤erine eflit bir miktar veya sat›fltan do¤an
gelire eflit bir miktar, her iki halde de ödeme Ortak Giriflim fiirketi taraf›ndan bu konuyla ilgili olarak üstlenilmifl olan masraflar
ve harcamalarla birlikte yap›lacakt›r.;
(e) Hariç tutulan Turcas varl›klar›;
(f) ‹fl Devir Sözleflmesi uyar›nca, borçlar›n Ortak Giriflim fiirketi'ne geçti¤i ancak ilgili borca denk düflen hakk›.
Ortak Giriflim fiirketi'ne geçmedi¤i ölçüde olmak üzere herhangi bir Turcas Sözleflmesi;
(g) Herhangi bir Turcas'›n mevcut yükümlülü¤ü;
(h) K›smi bölünme ifllemi ile ilgili olan Turcas malvarl›¤›n›n Ortak Giriflim fiirketi'ne devrine iliflkin her türlü vergi;
(i) Turcas ile ilgili vergiye dair hususlar.
149
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
31. COMMITMENTS AND CONTINGENCIES (cont’d)
Commitments and Contingencies related to Turcas Petrol A.fi. regarding Shell&Turcas Petrol A.fi. (cont'd)
b) Turcas Petrol A.fi. has the sale option which grants the right to sell the shares of Shell&Turcas Petrol A.fi. to Shell Turkey, provided
that it obtains the required governmental and legal approvals. This sale option grants Turcas Petrol A.fi. to sell the entire of Turcas
shares to Shell Turkey within any time between the third and the seventh anniversary of the completion of partial divisions and
the transfer of the assets to the Joint Venture Company, against 150 million USD (on condition that Shell is the shareholder of
the Joint Venture Company at that date), in the event that the cumulative shares paid by the Joint Venture Company to Turcas
and the affiliated companies within the two years period before the date when the sale option is used, or retained in accordance
with the Joint Venture Contract is less than 40 Million USD. Moreover, the said sale option can be used within 30 days as of the
seventh year following the completion of the partial division and transfer of the assets to the Joint Venture Company, without
being subject to the above condition regarding the cumulative share distribution, and the amount to be paid by Shell Turkey for
all of the Joint Venture Company shares possessed by Turcas shall be 150 million USD.
c) The indemnification commitments given by Turcas are related to the following liabilities related to these subjects:
(a) personal guarantee of maximum 60.000.000 YTL in total and other indemnities (this indemnity has been closed as of 31.12.2006)
applicable during the completion of the partial division and granted as the guarantee by Erdal Aksoy in favor of Türkiye Petrol
Rafinerileri A.fi. (“Tüprafl”) for the credit given to Turcas by Tüprafl regarding the stock purchase of Tüprafl petrol products;
(b) in the event that the responsibility of the Joint Venture Company would be greater if the existing guarantees and other securities
are transferred to the Joint Venture Company, indemnification of the sums indebted to the Joint Venture Company by any dealer
to the extent that the responsibility of the Joint Venture Company is greater;
(c) re-marking of the retail sale station with “Shell” mark;
(d) Regarding the transfer of any right to BP and Total over the land parcel acquired by Turcas in Ambarl›, for which BP and Total
has paid 50% for the existing right to Turcas, if the Joint Venture Company is forced to complete such transfer, Turcas is obliged
to pay the Joint Venture Company the sum which has the lesser amount: (i) 1.000.000 USD and (ii) an amount equal to the current
market value of Ambarl› Land as of the transfer date or an amount equal to the income from sale, in both cases the payment
shall be made by the Joint Venture Company along with the costs and expenses undertaken regarding the issue;
(e) Excluded Turcas assets;
(f) Pursuant to the Business Transfer Contract, any Turcas Contract where the debts are transferred to the Joint Venture Company
but the right corresponding to the related debts is not transferred to the Joint Venture Company;
(g) any existing liability of Turcas;
(h) any tax relating liabilities to the transfer of the assets of Turcas relating to the division process to the Joint Venture Company;
(i) particularities in tax regarding Turcas.
150
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
31. KARfiILIKLAR, fiARTA BA⁄LI VARLIK VE YÜKÜMLÜLÜKLER (devam)
Shell&Turcas Petrol A.fi. ile ilgili Turcas Petrol A.fi.'nin flarta ba¤l› varl›k ve yükümlülükleri (devam›)
Shell&Turcas Petrol A.fi. ile ilgili Toplulu¤un üstlendi¤i flarta ba¤l› varl›k ve yükümlülükleri afla¤›daki gibidir:
Gümrük ofislerine verilen garanti mektuplar›
Vergi ofislerine verilen garanti mektuplar›
Di¤er
Toplam
31 Aral›k 2006
53.042.819
212.425
38.384.148
91.639.392
Al›nan garanti mektuplar›
Al›nan ipotekler
Al›nan di¤er teminatlar
Toplam
31 Aral›k2006
23.233.347
54.461.065
8.468.436
86.162.848
Shell&Turcas Petrol A.fi. bayi sahiplerine bayilerin fiziksel durumlar›n›n gelifltirilmesi için 16.168.977 YTL ödeme garantisi vermifltir.
1 y›l içersinde
1 - 5 y›l
5 - 14 y›l
32. ‹fiLETME B‹RLEfiMELER‹
Yoktur
33. BÖLÜMLERE GÖRE RAPORLAMA
Yoktur
31 Aral›k 2006
8.369.926
4.972.280
2.826.771
16.168.977
151
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
KARfiILIKLAR, fiARTA BA⁄LI VARLIK VE YÜKÜMLÜLÜKLER (devam›)
Commitments and Contingencies related to Turcas Petrol A.fi. regarding Shell&Turcas Petrol A.fi. (cont'd)
The commitments and contingencies of the Group related to Shell&Turcas Petrol A.fi. is follows;
Guarantee lettes given to customs
Guarantee letter given to tax offices
Other
Total
31 December 2006
53.042.819
212.425
38.384.148
91.639.392
Guarantee letter received
Mortgage received
Other guarantees received
Total
31 December 2006
23.233.347
54.461.065
8.468.436
86.162.848
Shell&Turcas Petrol A.fi. has committed to pay TRY 16.168.977 to the station owners for the station improvement in the periods
mentioned below:
With in one year
1 - 5 years
5 - 14 years
32. BUSINESS COMBINATIONS
None
33. SEGMENTAL INFORMATION
None
31 December 2006
8.369.926
4.972.280
2.826.771
16.168.977
152
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
34. B‹LANÇO TAR‹H‹NDEN SONRAK‹ OLAYLAR
Topluluk, petrol da¤›t›m› ve rafinaj›n›n yan› s›ra elektrik ve do¤algaz gibi enerjinin geliflen tüm sektörlerinde ifltirakleriyle faaliyet
gösteren entegre bir eneji flirketi olma stratejisine ba¤l› olarak sat›n almay› inceledi¤i
a) T. Enerji Üretim A.fi. ile ilgili olarak Erdal Aksoy, S. Batu Aksoy, Banu Aksoy Tarakç›o¤lu, A. Belk›s Aksoy, F. Nilüfer Say›t ve Ö.
Faruk Acuner'in sahibi bulundu¤u toplam % 99,96 oran›ndaki nama yaz›l› hisse senetlerinin yerine kaim olmak üzere kendilerine
teslim edilmifl bulunan geçici hisse senedi ilmuhaberlerinin, T.C. Enerji Piyasas› Düzenleme Kurumu'ndan izin al›nmas›n› müteakip
bu flirketi sat›n alma bedeli olarak belirlenen 1.058.449 YTL üzerinden hisseleri oran›nda nakten ve defaten ödemeleri yap›larak
23 fiubat 2007'de sat›n al›nm›flt›r,
b) T. Enerji Elektrik Toptan Sat›fl A.fi. ile ilgili olarak Erdal Aksoy, S. Batu Aksoy, Banu Aksoy Tarakç›o¤lu, A. Belk›s Aksoy, F. Nilüfer
Say›t ve Ö. Faruk Acuner'in sahibi bulundu¤u toplam % 99,96 oran›ndaki nama yaz›l› hisse senetlerinin yerine kaim olmak üzere
kendilerine teslim edilmifl bulunan geçici hisse senedi ilmuhaberlerinin, T.C. Enerji Piyasas› Düzenleme Kurumu'ndan izin al›nmas›n›
müteakip bu flirketi sat›n alma bedeli olarak belirlenen 1.095.024 YTL üzerinden hisseleri oran›nda nakten ve defaten ödemeleri
yap›larak 23 fiubat 2007'de sat›n al›nm›flt›r,
c) Aksoy Gaz Toptan Sat›fl A.fi. ile ilgili olarak Erdal Aksoy'un sahip oldu¤u %99,96 oran›ndaki Nama Yaz›l› Hisse Senetlerinin yerine
kaim olmak üzere kendisine teslim edilmifl bulunan Geçici Hisse Senedi ‹lmuhaberinin bu flirketi sat›n alma bedeli olarak belirledi¤imiz
nominal 50.000 YTL üzerinden hissesi oran›nda nakten ve defaten ödemesi yap›larak 19 Ocak 2007'de sat›n alm›flt›r.
1 fiubat 2007 tarihinde Aksoy Gaz Toptan Sat›fl A.fi.'nin ismi Turcas Gaz Toptan Sat›fl A.fi. olarak de¤ifltirilmifl ve sermayesi 50.000
YTL'den 2.700.000 YTL'ye ç›kar›lm›flt›r. Art›r›lan 2.650.000 YTL sermaye 4 eflit taksitte 30 Kas›m 2009 tarihine kadar ödenecektir.
Ayr›ca Turcas Gaz Toptan Sat›fl A.fi. olarak Enerji Piyasas› Düzenleme Kurumu'na Do¤algaz Toptan Sat›fl Lisans› al›nmas› için müracaat
edilmifltir.
Toplulu¤un ifltiraki olan Shell&Turcas Petrol A.fi. 2006 y›l› ola¤an genel kurulunda, mali y›l› net kar›ndan kanun gere¤i ayr›lmas›
gereken miktarlar ayr›ld›ktan sonra birinci ve ikinci temettü tutarlar› toplam› 88.304.094 YTL'nin 31.05.2007 tarihine kadar ortaklara
nakden ödenmesine oybirli¤i ile karar vermifltir.
35. DURDURULAN FAAL‹YETLER
Turcas Petrol A.fi.'nin ana faaliyet konusu olan petrol ve petrol ürünleri al›m›, sat›m›, ihrac› ve ihracat› 1 Temmuz 2006 tarihinden
sonra yeni kurulan Shell&Turcas Petrol A.fi. taraf›ndan yürütülmeye bafllanm›flt›r. Turcas Petrol A.fi.'nin Shell&Turcas Petrol A.fi.
kuruluncaya (1 Temmuz 2006) kadar gerçeklefltirdi¤i faaliyetlerin sonuçlar› afla¤›daki gibidir:
Sat›fl gelirleri
Sat›fllar›n maliyeti
Brüt esas faaliyet karlar›
Faaliyet giderleri
Net esas faaliyet kar›
Faaliyet kar›
Vergiler
Net dönem kar›
1 Ocak - 1 Temmuz 2006
861.245.931
(801.306.670)
60.710.240
(22.242.248)
38.467.992
48.472.878
(10.696.811)
37.776.067
153
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
34. SUBSEQUENT EVENTS AFTER THE BALANCE SHEET DATE
In relation with the strategy of becoming an integrated energy company operating with participations in all developing sectors
of energy such as electricity and natural gas, besides petrol distribution and refining, the Group;
a) bought on February 23, 2007, the provisional share certificate proofs submitted to Erdal Aksoy, S. Batu Aksoy, Banu Aksoy
Tarakç›o¤lu, A. Belk›s Aksoy, F. Nilüfer Say›r and Ö. Faruk Acuner in relation with T. Enerji Üretim A.fi., replacing the registered
shares of 99,96% owned by the same persons, after permit is obtained by T.R. Energy Market Regulatory Institution, upon payment
in cash and single sum the amount corresponding to the shares, over TRY 1.058.449 which was specified as the purchase price
of this company.
b) bought on February 23, 2007 the provisional share certificate proofs submitted to Erdal Aksoy, S. Batu Aksoy, Banu Aksoy
Tarakç›o¤lu, A. Belk›s Aksoy, F. Nilüfer Say›r and Ö. Faruk Acuner in relation with T. Enerji elektrik Toptan Sat›fl A.fi., replacing the
registered shares of 99,96% owned by the same persons, after permit is obtained by T.R. Energy Market Regulatory Institution,
upon payment in cash and single sum the amount corresponding to the shares, over TRY 1,095,024 which was specified as the
purchase price of this company.
c) bought on January 19, 2007 the provisional share certificate proofs submitted to Erdal Aksoy, in relation with Aksoy Gaz Toptan
Sat›fl A.fi., replacing the registered shares of 99,96% owned by the same person, upon payment in cash and single sum the amount
corresponding to shares, over the nominal amount of TRY 50.000 which was specified as the purchase price of this company.
On February 1, 2007, Aksoy Gaz Toptan Sat›fl A.fi. was renamed as Turcas Gaz Toptan Sat›fl A.fi., and its capital has been increased
to TRY 2.700.000 from TRY 50.000. The increased capital amount of TRY 2.650.000 shall be paid in four equal installments until
November 30, 2009. Additionally, an application has been filed as Turcas Gaz Toptan Sat›fl A.fi. to Energy Market Regulatory
Institution for Natural Gas Wholesale License.
Shell&Turcas Petrol A.fi., a participation of the Group decided unanimously in the ordinary general assembly of 2006 that after
the amounts to be allocated from the net profit of the financial year pursuant to law, are set aside, the first and second dividend
amounts of TRY 88.304.09 in total shall be paid to the partners in cash until 31.05.2007.
35. DISCONTINUED OPERATIONS
Since Shell&Turcas Petrol A.fi. is founded as of July 1, 2006, The main operations of Turcas Petrol A.fi. are started to be conducted
by Shell&Turcas Petrol A.fi. The result of operations of Turcas Petrol A.fi. till the &Turcas Petrol A.fi. is founded as of July 1, 2006
is follows;
Sales Revenue
Cost of Sales
Gross Profit
Operating Expenses
Net operating profit
Operating Profit
Taxation
Net Profit for the Period
1 January-1 July 2006
861.245.931
(801.306.670)
60.710.240
(22.242.248)
38.467.992
48.472.878
(10.696.811)
37.776.067
154
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
36. ESAS FAAL‹YET GEL‹RLER‹
NET SATIfiLAR
Yurtiçi sat›fllar
Yurtd›fl› sat›fllar
Di¤er gelirler
Sat›fl iskontolar›
Sat›fllardan di¤er indirimler
1 Ocak-31 Aral›k 2006
902.726.789
797.217
(29.131)
(460.553)
903.034.322
1 Ocak-31 Aral›k 2005
1.854.484.344
3.647.555
(22.017)
(640.862)
1.857.469.020
SATIfiLARIN MAL‹YET‹
Sat›lan ticari mallar›n maliyeti
Sat›lan hizmet maliyeti
1 Ocak-31 Aral›k 2006
845.074.977
2.053.927
847.128.904
1 Ocak-31 Aral›k 2005
1.754.566.488
2.119.218
1.756.685.706
1 Ocak-31 Aral›k 2006
576.233
7.079.616
312.326
750
306.812
2.382.567
1.412.178
731.042
2.208.954
135.197
1.962.795
17.108.470
1 Ocak-31 Aral›k 2005
433.223
6.769.269
13.696
20.445
406.489
2.322.363
864.894
872.971
917.479
2.173.755
14.794.584
1 Ocak-31 Aral›k 2006
5.388.986
2.417.124
508.974
2.349.234
554.260
580.503
806.513
187.023
982.776
13.775.393
1 Ocak-31 Aral›k 2005
13.073.314
3.871.795
6.681.425
2.505.254
1.395.407
1.652.921
593.031
454.804
1.900.340
32.128.291
37. FAAL‹YET G‹DERLER‹
Genel Yönetim Giderleri;
Amortisman ve itfa giderleri
Personel giderleri
Reklam giderleri
Bayi giderleri
Kira giderleri
D›flar›dan sa¤lanan hizmetler
Vergi ve di¤er yükümlülükler
fiüpheli alacak ve di¤er karfl›l›k giderleri
EPDK'ya ödenen cezalar
Bak›m ve onar›m giderleri
Di¤er
Pazarlama,Sat›fl ve Da¤›t›m Giderleri;
Amortisman ve itfa giderleri
Personel giderleri
Reklam giderleri
Bayi giderleri
Kira giderleri
D›flar›dan sa¤lanan hizmetler
Vergi ve di¤er yükümlülükler
Bak›m ve onar›m giderleri
Di¤er
155
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
36. OPERATING INCOME
NET SALES
Domestic Sales
Export Sales
Other income
Sales discount
Other deductions from sales
1 January- 31 December 2006
902.726.789
797.217
(29.131)
(460.553)
903.034.322
1 January- 31 December 2005
1.854.484.344
3.647.555
(22.017)
(640.862)
1.857.469.020
COST OF SALES
Cost of merchandises sold
Cost of services rendered
1 January- 31 December 2006
845.074.977
2.053.927
847.128.904
1 January-31 December 2005
1.754.566.488
2.119.218
1.756.685.706
1 January-31 December 2006
Deprecition and amortization expenses
576.233
Personnel expenses
7.079.616
Advertisement expenses
312.326
Dealer expenses
750
Rent expenses
306.812
Other services obtained
2.382.567
Taxes and other liabilities
1.412.178
Doubtfull receivables and other provision expenses
731.042
Fines paid to EMRA
2.208.954
Repair and maintenance expenses
135.197
Other
1.962.795
17.108.470
1 January-31 December 2005
433.223
6.769.269
13.696
20.445
406.489
2.322.363
864.894
872.971
917.479
2.173.755
14.794.584
37. OPERATING EXPENSES
General Administrative Expenses;
Marketing, selling and distribution expenses;
Deprecition and amortization expenses
Personnel expenses
Advertisement expenses
Dealer expenses
Rent expenses
Other services obtained
Taxes and other liabilities
Repair and maintenance expenses
Other
1 January-31 December 2006
5.388.986
2.417.124
508.974
2.349.234
554.260
580.503
806.513
187.023
982.776
13.775.393
1 January-31 December 2005
13.073.314
3.871.795
6.681.425
2.505.254
1.395.407
1.652.921
593.031
454.804
1.900.340
32.128.291
156
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
38. D‹⁄ER FAAL‹YETLERDEN GEL‹R/(G‹DER) VE KAR/(ZARARLAR)
Di¤er Faaliyetlerden Gelir ve Karlar:
1 Ocak-31 Aral›k 2006
LPG komisyon gelirleri
4.549.267
Komisyon gelirleri
1.224.781
Sözleflme fesih tazminat›
1.484.697
ATM gelirleri
Kira gelirleri
1.122.145
Konusu kalmayan karfl›l›klar
33.869
Temettü gelirleri
30.307
Haklar gelirleri
582.810
Servis hizmet gelirleri
96.878
Sabit k›ymet sat›fl kar›(*)
24.824.836
Shell&Turcas Petrol A.fi. dönem kar›n›n toplulu¤a düflen pay› (Not 16)
31.750.675
Bölünme ifllemi sonucu oluflan kar (Not 16)
171.453.382
Di¤er gelirler ve karlar
533.976
237.637.623
1 Ocak-31 Aral›k 2005
8.394.479
3.305.019
220.929
242.487
1.230.289
29.239
20.746
892.385
238.809
404.065
1.233.249
16.211.696
(*)Turcas Petrol A.fi.'nin yüzde yüz sahibi bulundu¤u Marmara Petrol ve Rafineri ‹flleri A.fi.'nin Kocaeli ili, Körfez ilçesi'nde bulunan
35.805 metrekare arsa ve üzerindeki tesis 21.500.000 USD bedelle Lukoil Eurasia Petrol A.fi.'ye 3 Kas›m 2006 tarihinde sat›lmas›ndan
do¤an sat›fl kar› 24.086.474 YTL'dir.
Di¤er Faaliyetlerden Gider ve Zararlar:
Komisyon giderleri
Sabit k›ymet sat›fl zararlar›
Di¤er giderler ve zararlar
1 Ocak-31 Aral›k 2006
1.489.257
769.364
560.893
2.819.514
1 Ocak-31 Aral›k 2005
2.388.019
400.790
2.788.809
1 Ocak-31 Aral›k 2006
8.790.156
2.654.955
(4.975.187)
(787.064)
6.624.450
(1.394.349)
10.912.961
1 Ocak-31 Aral›k 2005
1.617.570
2.810.629
(1.322.467)
(136.497)
(3.390.259)
(421.024)
39. F‹NANSMAN G‹DERLER‹
Faiz gelirleri
Reeskont gelirleri
Kambiyo zararlar›
Reeskont giderleri
Kambiyo karlar›
Faiz giderleri
157
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
38. OTHER INCOME/EXPENSE PROFIT/LOSES
Other income and profits:
1 January-31 December 2006
LPG commission income
4.549.267
Commission income
1.224.781
Compensation for contract cancellation
1.484.697
ATM income
Rent income
1.122.145
Provisions released
33.869
Dividend income
30.307
Rights income
582.810
Service income
96.878
Income from fixed asset sales (*)
24.824.836
Net profit the for the period of Shell&Turcas Petrol A.fi.
attributable to the Group (Note 16)
31.750.675
Profit after spin-off (Note 16)
171.453.382
Other income and profit
533.976
237.637.623
1 January-31 December 2005
8.394.479
3.305.019
220.929
242.487
1.230.289
29.239
20.746
892.385
238.809
404.065
1.233.249
16.211.696
(*)The 35.805 m2 land and facility in Kocaeli, Körfez which are belong the Marmara Petrol ve Rafineri ‹flleri A.fi. are sold to Lukoil
Eurasia Petrol A.fi. is amounting to 21.000.000 USD as of November 3, 2006. The profit generated from this sale is TRY 24.086.474.
Other income and loses:
Commission expenses
Loss on Fixed sales
Other expenses and losses
1 January-31 December 2006
1.489.257
769.364
560.893
2.819.514
1 January-31 December 2005
2.388.019
400.790
2.788.809
1 January-31 December 2006
8.790.156
2.654.955
(4.975.187)
(787.064)
6.624.450
(1.394.349)
10.912.961
1 January-31 December 2005
1.617.570
2.810.629
(1.322.467)
(136.497)
(3.390.259)
(421.024)
39. FINANCE EXPENSE
Interest income
Discounting income
Exchange losses
Discounting expense
Exchange gains
Interest expenses
158
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
40. NET MONETARY GAIN/LOSS
Since the inflation accounting is not applied, there is no monetary gain/loss as of December 31, 2006.
41. VERG‹LER
31 Aral›k 2006
31 Aral›k 2005
9.722.134
(9.722.134)
1 Ocak-31 Aral›k 2006
9.722.134
3.437.704
13.159.838
19.381.860
(14.331.819)
5.050.041
1 Ocak-31 Aral›k 2005
19.381.860
962.572
20.344.432
1 Ocak-31 Aral›k 2006
1 Ocak-31 Aral›k 2005
Vergi karfl›l›¤›n›n mutabakat›:
Vergi öncesi kar
Etkin vergi oran›
Hesaplanan vergi
270.752.625
20%
54.150.525
66.862.306
30%
20.058.692
Hesaplanan ile ayr›lan vergi karfl›l›¤›n›n mutabakat farklar› :
Farkl› vergi oran› etkisi
- Kanunen kabul edilmeyen giderler
- Konsolidasyon düzeltmeleri
- Özkaynaktan pay alma yöntemine göre gelen kar
- Di¤er
1.135.130
638.124
1.240.927
(40.640.813)
(3.364.055)
83.160
774.203
(571.623)
13.159.838
20.344.432
Ödenecek kurumlar vergisi:
Kurumlar vergisi karfl›l›¤›
Peflin ödenmifl vergi ve fonlar
Cari kurumlar vergisi karfl›l›¤›
Ertelenmifl vergi karfl›l›¤›
Gelir tablosunda ayr›lan vergi karfl›l›¤›
159
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
40. NET MONETARY GAIN/LOSS
Since the inflation accounting is not applied, there is no monetary gain/loss as of December 31, 2006.
41. TAXATION
1 January-31 December 2006
1 January-31 December 2005
9.722.134
(9.722.134)
1 January-31 December 2006
9.722.134
3.437.704
13.159.838
19.381.860
(14.331.819)
5.050.041
1 January-31 December 2005
19.381.860
962.572
20.344.432
1 January-31 December 2006
1 January-31 December 2005
Reconciliation of taxation:
Profit before taxation
Tax rate
Expected tax
270.752.625
20%
54.150.525
66.862.306
30%
20.058.692
Reconciliation of expected tax to actual tax:
Effect of change in tax rate
- Undeductable expenses
- Effect of consolidation eliminations
- Gain from associates
- Other
1.135.130
638.124
1.240.927
(40.640.813)
(3.364.055)
83.160
774.203
(571.623)
13.159.838
20.344.432
Tax charges
Corporate tax charge
Deferred tax charge
Corporate tax provision
Deferred tax (income) / provision
TAXATION
160
TURCAS PETROL A.fi. VE BA⁄LI ORTAKLI⁄I
31 ARALIK 2006 TAR‹H‹NDE SONA EREN YILA A‹T KONSOL‹DE MAL‹ TABLOLARA ‹L‹fiK‹N D‹PNOTLAR
(Birim - Aksi birim belirtilmedikçe tutarlar YTL olarak ifade edilmifltir.)
42. H‹SSE BAfiINA KAZANÇ
2006 ve 2005 y›l› için fiirket hisselerinin a¤›rl›kl› ortalama adedi ve birim hisse bafl›na kar hesaplamalar› afla¤›daki gibidir:
A¤›rl›kl› ortalama hisse adedi
Net kar
Hisse bafl›na kar
1 Ocak-31 Aral›k 2006
105.000.000
257.554.715
2,45
1 Ocak-31 Aral›k 2005
94.522.085
46.517.870Hisse bafl›na kar
0,49
43. NAK‹T AKIM TABLOSU
Nakit ak›m tablosu sayfa 92'te verilmifltir.
44. MAL‹ TABLOLARI ÖNEML‹ ÖLÇÜDE ETK‹LEYEN YA DA MAL‹ TABLOLARIN AÇIK, YORUMLANAB‹L‹R VE ANLAfiILAB‹L‹R OLMASI
AÇISINDAN AÇIKLANMASI GEREKL‹ OLAN D‹⁄ER HUSUSLAR
Mali tablolar fiirket Yönetim Kurulu'nun 12 Nisan 2007 tarihli toplant›s›nda onaylanm›fl ve yay›mlanmas› için yetki verilmifltir.
161
TURCAS PETROL A.fi. AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006
(Amounts are expressed in New Turkish Lira (“TRY”) unless otherwise stated.)
42. EARNINGS PER SHARE
In 2006 and 2005, the weighted average number of shares and earnings per share are as follows:
1 January-31 December 2006
Weighted average number of shares outstanding
105.000.000
Net profit
257.554.715
Earnings per share
2,45
1 January-31 December 2005
94.522.085
46.517.870
0,49
43. CASH FLOW STATEMENTS
Cash flow statements are stated in page 93.
44. OTHER ISSUES TO BE EXPLAINED AS A MANDATORY MATTER TO RENDER THE FINANCIAL STATEMENTS CLEAR, INTERPRETABLE
AND COMPREHENSIBLE OR AFFECTING THE FINANCIAL STATEMNENTS SIGNIFICANTLY
The accompanying Financial Statements are approved and authorized to issue by board of directors as of April 12, 2007.
Turcas Petrol A.fi. & Ortakl›klar›/Subsidiaries Emirhan Caddesi 145 Atakule Kat: 6 Befliktafl 34349 ‹stanbul Türkiye T: +90 212 259 0000 F: +90 212 259 0019 www.turcas.com.tr