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HTTP://WWW.KAP.GOV.TR/YAY/BILDIRIM/BILDIRIM.ASPX?ID=413903

KAP : TUPRAS-TURKIYE PETROL RAFINERILERI A.S. / TUPRS [] OZEL DURUM ACIKLAMASI (GENEL) 16.02.2015 17:59:55

OZEL DURUM ACIKLAMASI (GENEL)
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ORTAKLIGIN ADRESI : GUNEY MAH. PETROL CAD. NO:25 41790 KORFEZ KOCAELI
TELEFON VE FAKS NUMARASI : TEL 0 262 316 30 00 FAKS : 0 262 316 30 10-11
E-POSTA ADRESI : INFO@TUPRAS.COM.TR
ORTAKLIGIN YATIRIMCI/PAY SAHIPLERI ILE ILISKILER BIRIMININ TELEFON VE FAKS NUMARASI : TEL 0 262 316 32 69 FAKS : 262 316 30 10-11
YAPILAN ACIKLAMA ERTELENMIS ACIKLAMA MI? : HAYIR
OZET BILGI : GECICI VERGI BAZLI GELIR TABLOSUNA ILISKIN ACIKLAMA/ANNOUNCEMENT FOR INCOME STATEMENT BASED ON TAX STANDARD


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BASIN BULTENI
PETROL FIYATI VE DOVIZ KURUNDAKI DALGALANMALARIN FINANSAL NETICELERI OLUMSUZ ETKILEDIGI 2014 YILINDA, SIRKETIN REKABET GUCUNU ARTIRACAK FUEL OIL DONUSUM PROJESI`NDE TEST CALISMALARINA BASLANMISTIR.
YILA 108 DOLAR SEVIYESINDEN BASLAYAN HAMPETROL FIYATI, HAZIRAN AYINDA 115 DOLARI GORDUKTEN SONRA, YILIN IKINCI YARISINDA KURESEL EKONOMIDE YASANAN OLUMSUZ GELISMELER, JEOPOLITIK RISKLERDEKI AZALMA, ABD`NIN ARTAN KAYA PETROLU URETIMI, OPEC`IN ARZ KISINTISINA GITMEMESI ILE YILI 55 DOLAR DUZEYINDE KAPATMIS VE PETROL SEKTORUNDE YUKSEK STOK ZARARLARINA NEDEN OLMUSTUR.
DURAGAN GLOBAL URUN TALEBI ORTAMINDA, ORTADOGU VE ASYA`DA ACILAN YENI RAFINERILER ILE DUSUK HAMPETROL VE ENERJI MALIYETLERINE SAHIP ABD RAFINERILERININ YUKSEK KAPASITE KULLANMASI, SEKTOREL BOLGE DENGELERINI BOZMAYA DEVAM ETMISTIR. ANCAK, DORDUNCU CEYREK DONEMDE ARTAN GLOBAL BAKIM FAALIYETLERI VE PLANSIZ RAFINERI DURUSLARIYLA URUN ARZININ AZALMASI YANINDA, HIZLA GERILEYEN HAMPETROL FIYATLARININ DA ETKISI ILE AKDENIZ RAFINERI MARJI 2013 YILI 4. CEYREGINDEKI 0,30 DOLAR/VARIL DUZEYINDEN 3,84 DOLAR/VARIL`E, YIL ORTALAMASINDA ISE 0,28 DOLAR/VARIL ARTISLA 1,95 DOLAR/VARILE YUKSELMISTIR.
BU PARALELDE, TUPRAS`IN 4. CEYREK DONEM NET RAFINERI MARJI 4,56 DOLAR/VARIL DUZEYINDE, GECEN YILIN 12 AYLIK DONEMINDE 2,45 DOLAR/VARIL OLAN NET RAFINERI MARJI ISE 3,21 DOLAR/VARIL SEVIYESINDE GERCEKLESMISTIR.
FUEL OIL DONUSUM PROJESI ICIN IZMIT RAFINERISI BAGLANTI VE BAKIM DURUSLARI, DIGER RAFINERILERDE RUP ONCESI GEREKLI RAFINERI BAKIM CALISMALARI VE YILIN ILK YARISINDAKI ZAYIF TALEP KOSULLARI NEDENIYLE, 2014 YILI KAPASITE KULLANIMI %74,9 SEVIYESINDE GERCEKLESMISTIR. KARLILIGI DUSEN ITHALATTAN YAPILAN SATISLARIN AZALMASI VE DUSEN ASFALT TALEBI NEDENIYLE TUPRAS`IN YURTICI SATISLARI (980 BIN TONU BITUM VE 1.356 BIN TON MOTORIN OLMAK UZERE) 2,4 MILYON TON AZALMISTIR. URETIM OPTIMIZASYONUNA BAGLI OLARAK IHRACATIN DA 490 BIN TON DAHA AZ GERCEKLESMESI NEDENIYLE TOPLAM SATISLAR 22,2 MILYON TON OLMUSTUR.
SATIS MIKTARI VE AKDENIZ URUN FIYATLARINDAKI DUSUSLERE RAGMEN, DOVIZ KURUNDAKI YILLIK ORTALAMA %14,9 YUKSELISIN ETKISIYLE SATIS GELIRLERI ISE 2013 YILININ % 3,4 ALTINDA GERCEKLESMISTIR.
VERGI USUL KANUNA GORE DUZENLENMIS FINANSAL VERILERE GORE, ULUSLARARASI PETROL FIYATLARINDA SON IKI AYDA DERINLESEN OLUMSUZ KONJONKTURLE OLUSAN STOK ZARARI NEDENIYLE FAALIYET KARI %57 AZALARAK 359 MILYON TL DUZEYINDE GERCEKLESMIS, REKABET KURULU`NCA VERILEN IDARI PARA CEZASININ 309 MILYON TL OLARAK ODEMESI SONRASINDA, 85 MILYON TL NET DONEM ZARARI OLUSMUSTUR. SOZ KONUSU IDARI PARA CEZASININ IPTALI VE ODENEN TUTARIN SIRKETE IADESI TALEBIYLE ACILMIS OLAN DAVA HALEN DEVAM ETMEKTEDIR.

2014 YILINDA, FUEL OIL DONUSUM PROJESI DAHIL OLMAK UZERE, TOPLAM 959 MILYON DOLAR YATIRIM HARCAMASI GERCEKLESTIRILMISTIR. ULKEMIZ CARI ACIGINI YILDA 1 MILYAR DOLAR AZALTACAK OLAN FUEL OIL DONUSUM PROJESI ICIN 2014 YILI SONUNA KADAR FINANSMAN VE TAMAMLAYICI YATIRIMLAR DAHIL HARCANAN TOPLAM TUTAR ISE 3 MILYAR DOLAR OLMUSTUR.
TUPRAS ARTAN REKABET GUCUYLE ULKEMIZIN AKARYAKIT IHTIYACINI EN YUKSEK KALITEDE VE ISTIKRAR ILE KARSILAYARAK OPERASYONEL VE FINANSAL HEDEFLERINI GERCEKLESTIRME YOLUNDA ILERLERKEN, HISSEDARLARI, IS ORTAKLARI VE ULKEMIZ ICIN KATMA DEGER OLUSTURMAYA DEVAM EDECEKTIR.
KAMUOYUNUN BILGILERINE SUNARIZ.
KURUMSAL ILETISIM MUDURLUGU

ACIKLAMANIN INGILIZCE VERSIYONUNA ASAGIDA YER VERILMEKTEDIR./ ENGLISH VERSION OF THE DISCLOSURE IS STATED BELOW.
IN CASE OF A DISCREPANCY BETWEEN THE TURKISH AND THE ENGLISH VERSIONS OF THIS DISCLOSURE, THE TURKISH VERSION SHALL PREVAIL.

PRESS RELEASE
IN 2014, FLUCTUATIONS IN OIL PRICES AND THE EXCHANGE RATE HAS A NEGATIVE IMPACT IN FINANCIAL RESULTS, WHILST THE RESIDUUM UPGRADING PROJECT WHICH WILL INCREASE THE COMPANY`S COMPETITIVE POWER, HAS BEGUN ITS TEST RUNS.
FROM A $108 STARTING CRUDE OIL PRICE LEVEL, AND AFTER SEEING $ 115 IN JUNE, THE NEGATIVE GLOBAL ECONOMIC DEVELOPMENTS IN THE SECOND HALF OF THE YEAR, THE DECREASE IN GEOPOLITICAL RISKS, INCREASED US TIGHT OIL PRODUCTION, COMBINED WITH AN OPEC DECISION NOT TO CUT SUPPLY, THE YEAR-END CRUDE OIL PRICE DIPPED TO $ 55 AND THE OIL SECTOR IN GENERAL SUFFERED HIGH INVENTORY LOSSES.
STABLE GLOBAL DEMAND FOR PRODUCTS, NEW REFINERIES OPENING IN THE MIDDLE EAST AND ASIA WHILST US REFINERIES TAKING FULL ADVANTAGE OF LOW COST OF CRUDE OIL AND ENERGY WITH HIGH CAPACITY UTILISATION, CONTINUED TO DISRUPT THE PRODUCT BALANCE OF THE SECTOR. HOWEVER, IN THE FOURTH QUARTER, THE GLOBAL MAINTENANCE ACTIVITIES INCREASED AND A DECREASE IN THE SUPPLY OF PRODUCTS WITH UNPLANNED REFINERY SHUTDOWNS COUPLED WITH THE IMPACT OF THE RAPID DECLINE IN CRUDE OIL PRICES, THE MEDITERRANEAN COMPLEX REFINERY MARGIN INCREASED FROM 0.30$/BBL TO 3.84 $/BBL IN THE 4TH QUARTER OF 2014, IN THE YEAR ON AVERAGE IT INCREASED FROM 0.28 $/BBL TO 1.95$/BBL LEVEL.
IN PARALLEL, TUPRAS`S Q4 NET REFINERY MARGIN WAS REALIZED AT 4.56 $/BBL. WHEN COMPARED WITH THE 12-MONTH PERIOD OF THE LAST YEAR, THE NET REFINERY MARGIN INCREASED FROM 2.45 $/BBL TO 3.21 DOLLARS / BARREL.
THE CAPACITY UTILIZATION STOOD AT 74.9% IN 2014, DUE TO IZMIT REFINERY CONNECTION AND PLANNED SHUT DOWNS FOR RESIDUUM UPGRADING PROJECT, PRIOR TO THE RUP IN OTHER REFINERY NECESSARY MAINTENANCE WORK AND WEAK DEMAND IN THE FIRST HALF OF THE YEAR. FALLING PROFITABILITY DUE TO DECREASED SALES FROM IMPORTS AND FALLING DEMAND FOR ASPHALT, TUPRAS DOMESTIC SALES DECREASED BY 2.4 MILLION TONS (INCLUDING 980 THOUSAND TONS OF BITUMEN AND 1,356 THOUSAND TONS DIESEL). TOTAL SALES WERE APPROXIMATELY 22.2 MILLION TONS DUE TO THE OPTIMIZATION OF THE PRODUCTION AND DECREASED EXPORT SALES BY 490 THOUSAND TONS.
DESPITE THE DECLINE IN SALES VOLUMES AND IN THE MEDITERRANEAN PRODUCT PRICES, SALES REVENUE WAS JUST 3.4% BELOW 2013 DUE TO THE EFFECT OF THE AVERAGE ANNUAL EXCHANGE RATE RISING BY 14.9%.
OPERATING PROFIT AS DEFINED BY THE TAX ACCOUNTING STANDARDS DECREASED BY 57% TO TL 359 MILLION DUE TO RAPID FALLS IN INTERNATIONAL OIL PRICES IN THE LAST TWO MONTHS, DEEPENING NEGATIVE CONJUNCTURE AND THE INVENTORY LOSSES. IN ADDITION, THE PROFIT WAS IMPACTED BY THE IMPOSITION OF A TL 309 MILLION ADMINISTRATIVE PENALTY PAID TO THE COMPETITION BOARD, FOR WHICH THE COMPANY LAUNCHED LEGAL ACTION TO OVERTURN THE DECISION AND HAVE THE PENALTY REPAID, IN A COURT CASE THAT IS CONTINUING. THE RESULTING NET LOSS WAS TL 85 MILLION.
AS OF THE END OF DECEMBER, TOTAL INVESTMENT EXPENDITURE WAS $ 959 MILLION, INCLUDING THE RUP INVESTMENT DURING THE PERIOD. TOTAL INVESTMENT ON THE PROJECT, INCLUDING FINANCIAL EXPENSES AND RELATED PROJECTS, WHICH ARE EXPECTED TO CONTRIBUTE ONE BILLION DOLLAR TO THE NATION`S CURRENT ACCOUNT BALANCE, HAD REACHED 3 BILLION DOLLAR.
WHILST STRIVING TO ENSURE GUARANTEE OF SUPPLY OF THE HIGHEST QUALITY PRODUCTS TO THE TURKISH MARKET, BY SUSTAINABLY REALIZING OPERATIONAL AND FINANCIAL TARGETS, WE CONTINUE TO GENERATE GREATER VALUE FOR OUR SHAREHOLDERS, OTHER STAKEHOLDERS AND SOCIETY IN THE FUTURE.

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