turcas KAPAK3.3 - Turcas Petrol A.Ş.

FAAL‹YET RAPORU / ANNUAL REPORT 2002
TURCAS PETROL A.fi.
V‹ZYON
Hizmette 60 y›l› aflk›n birikimle, ülkemizin ilk tercih edilen ve en sayg›n
akaryak›t flirketi olaca¤›z.
VISION
Building on more than 60 years of serving our customers, we will grow to
be the nation’s favorite and most respected fuel company.
‹Ç‹NDEK‹LER / CONTENTS
K›saca Turcas Petrol 01 Finansal Göstergeler 04 Baflkan’›n Mesaj› 06 Yönetim Kurulu 10 Yönetim 11 Sermaye ve Ortakl›k Yap›s› 12
Faaliyetler 14 Turcas’›n Rekabet Gücü 14 Yeni ‹maj 16 Sat›fl ve Pazarlama Faaliyetleri 16 Bayi Konseyi 20 Yeni Yat›r›mlar 20 ‹nsan
Kaynaklar› 22 Denetçi Raporu ve Finansal Tablolar 25
Turcas Petrol in Brief 01 Financial Highlights 04 Chairman’s Message 06 Board of Directors 10 Management 11 Capital and Shareholder
Structure 12 Operations 14 Turcas Petrol Competitive Position 14 New Image 17 Sales and Marketing Activities 17 Dealer Council 20 New
Investments 20 Human Resources 23 Auditors’ Report and Financial Statements 25
Turcas Petrol, Türkiye genelinde 650’den fazla bayi ile
yapm›fl oldu¤u uzun vadeli sat›fl ve marka sözleflmesi
kapsam›nda, Türkpetrol markas›yla ülke çap›nda faaliyet
gösteren bir akaryak›t ürünleri da¤›t›m flirketidir. fiirket,
modern terminal ve da¤›t›m sistemi arac›l›¤›yla bayilere
akaryak›t ürünleri tedarik etmektedir. Sat›fl ve
pazarlama alan›ndaki uzmanl›¤›n› Castrol ve ‹pragaz gibi
di¤er önemli otomotiv markalar›yla olan ba¤lant›lar›yla
birlefltirerek piyasaya güçlü ve cazip bir marka
sunmaktad›r.
Turcas Petrol, Tabafl Petrolcülük ile Turcas
Petrolcülük’ün 1999’da birleflmesi sonucunda ortaya
ç›km›flt›r. Bundan önceki dönemde Turcas
Petrolcülük’ün hisselerinin %85’i Tabafl Petrolcülük
flirketinin elinde bulunmaktayd›. Birleflme sonras›nda
fiirket’in ad›, daha fazla tan›nmas›n› sa¤lamak amac›yla
Turcas Petrol olarak, marka ise Türkpetrol olarak
de¤iflmifltir.
1996 y›l›nda, Türkpetrol unvan›n›n yasal sahibi olan
Türkpetrol Vakf› ile Tabafl aras›nda unvan›n on y›l
süreyle kullan›lmas›na imkan veren bir sözleflme
imzalanm›flt›r. 1999’daki birleflmeyi takiben tüm
hizmetlerin Türkpetrol markas› alt›nda sunulmas›
kararlaflt›r›lm›flt›r.
Turcas Petrol, Türkiye’nin en çok sayg› duyulan ve
tercih edilen akaryak›t ürünleri da¤›t›m flirketi olmay›
hedeflemektedir. fiirket’in yönetim kurulu ve yönetim
kadrolar›, bu amac›n sadece müflterilerin, bayilerin ve
hissedarlar›n tatmin edilmesiyle de¤il, ayn› zamanda
içinde yaflad›klar› topluma ve paylaflt›klar› dünyaya
önemli ölçüde katk›da bulunulmas›yla
gerçeklefltirilebilece¤ine inanmaktad›r. Turcas Petrol,
güvenlik performans›, çevrenin korunmas› ve ahlaki
davran›fl konular›nda mümkün olan en yüksek
standartlar› uygulamay› taahhüt etmektedir.
Turcas Petrol, Türkiye genelindeki önemli noktalarda
seçkin bir bayi a¤› oluflturarak önümüzdeki y›llarda
baflka bayilerle de sözleflme imzalamay› planlamaktad›r.
fiirket, üstün kalitede ürünler, mükemmel bir istasyon
hizmeti, modern marketler, AYS (Araç Yönetim
Sistemi) ve üst düzeyde e¤itilmifl personel sayesinde
piyasan›n geliflme h›z›ndan daha h›zl› bir flekilde
geliflece¤ine inanmaktad›r.
Turcas Petrol is a nationwide petroleum products
distribution company operating under the Türkpetrol
brand through long-term sales and branding agreements
at over 650 dealer stations throughout Turkey. The
Company provides petroleum and related products to
dealers via its modern terminal and distribution system.
Utilizing its sales and marketing expertise along with its
association with other major brands in the automotive
sector, such as Castrol and ‹pragaz, it presents a powerful
and attractive brand in the market.
Today’s Turcas Petrol is the result of a merger that took
place in 1999 between Tabafl Petrolcülük and Turcas
Petrolcülük; previously, Tabafl Petrolcülük owned 85% of
Turcas Petrolcülük. After the merger, the name of the
Company was changed to Turcas Petrol to help gain
wider public awareness and the brand to Türkpetrol.
In 1996, an agreement was signed with the Türkpetrol
Foundation (legal owners of the name Türkpetrol) and
Tabafl permitting the right to use of the name for ten
years. Following the 1999 merger and an extension of the
name usage right, it was decided that all services would
be delivered under the Türkpetrol brand name.
Turcas Petrol aims to be the most respected and
preferred petroleum and related products distributor in
Turkey. The board and the management of the company
has determined that this goal will be achieved not only by
satisfying its customers, dealers and shareholders but also
through the important contributions they will make to the
community in which they live and the world that they
share. Turcas Petrol is committed to maintaining the
highest possible standards in safety performance,
environmental protection and ethical behavior.
Turcas Petrol with its key locations throughout Turkey has
assembled an outstanding network of dealers and plans
to acquire additional dealer contracts in the coming years.
By offering top quality products, excellent forecourt
service, attractive shops, AYS (Fuel Management System)
and the best-trained staff the Company believes it can
grow at a faster rate than the market.
KISACA TURCAS PETROL / TURCAS PETROL IN BRIEF
Turcas Petrol, Türkiye genelindeki önemli noktalarda seçkin
bir bayi a¤› oluflturarak önümüzdeki y›llarda baflka bayilerle
de sözleflme imzalamay› planlamaktad›r.
Turcas Petrol with its key locations throughout Turkey has
assembled an outstanding network of dealers and plans to
acquire additional dealer contracts in the coming years.
KISACA TURCAS PETROL / TURCAS PETROL IN BRIEF
2002 y›l›nda:
• 650’nin üzerinde benzin istasyonunda ve 200’den fazla s›nai ve ticari
müflteriye petrol ürünleri, otogaz ve madeni ya¤ sat›fl› yap›lm›flt›r.
• Y›l içinde, 14 benzin istasyonu aç›lm›fl ve sekiz yeni proje için yat›r›m
yap›lm›flt›r.
• ‹maj gelifltirme faaliyetleri çerçevesinde 130 istasyonda hizmet,
güvenlik ve görünümü gelifltirmek için yap›lan yat›r›mlar tamamlanm›flt›r.
• Benzin ürünlerinin sat›fl hacmi 406,000 m3 düzeyindedir ve bu ürün
grubundaki pazar pay› %10.2’ye ulaflm›flt›r.
• Motorin sat›fllar› 766,000 m3; pazar pay› ise %7 olarak gerçekleflmifltir.
• Siyah ürünlerin sat›fl hacmi 68,000 m3 olmufltur.
• Otogaz satan istasyonlar›n say›s› 223’e, sat›fllar ise 150,000 m3’e
ulaflm›flt›r.
• Otomatik araç tan›ma sistemi AYS (Akaryak›t Yönetim Sistemi), yedi
istasyonda daha uygulamaya konmufl, AYS ile teçhiz edilmifl istasyon
say›s› 132’ye yükselmifltir.
31 Aral›k 2002 itibariyle SPK standartlar›na uygun olarak haz›rlanan
denetimden geçmifl mali tablolara göre; Turcas Petrol’ün net sat›fllar›
1,157,130 milyar TL, vergi öncesi dönem kar› ise 12,233 milyar TL
olmufltur. Yine 2002 y›l›nda, özsermaye eksi 9,692 milyar TL’ye
düflerken (2001’de eksi 36,110 milyar TL), bilançonun aktif toplam›
135,022 milyar TL’ye yükselmifltir (2001’de 132,854 milyar TL). Ancak
2001 y›l›nda 1. Asliye Ticaret Mahkemesi’nin atad›¤› bilirkiflilerce
haz›rlanan fiirket aktiflerinin de¤erleme raporunun 31/12/2002 tarihli
denetimden geçmifl bilançoya yans›t›lmas› sonucunda fiirket
bilançosundaki özsermaye toplam› 40,632 milyar TL’ye yükselmifltir.
fiirket’in ABD Dolar› cinsinden kredilerinden kaynaklanan kur farklar› ve
ilgili finansman giderleri ile 1999 y›l›nda gerçeklefltirilen birleflme
iflleminin (Tabafl/Turcas) sonucu ortaya ç›kan ve befl y›ll›k amortismana
tabi tutulan kalemler d›fl›nda 2002 y›l›nda Turcas Petrol’ün 40,200
milyar TL kar elde etti¤i görülmektedir.
Uluslararas› Muhasebe Standartlar›’na uygun olarak haz›rlanan mali
tablolara göre 2002 y›l›nda Turcas Petrol’ün net sat›fllar› 1,299,007
milyar TL, dönem kar› 16,685 milyar TL ve özsermayesi ise 87,472
milyar TL olarak gerçekleflmifltir.
2002 y›l› sonunda Turcas Petrol hisselerinin yaklafl›k %16’s› ‹stanbul
Menkul K›ymetler Borsas› Ulusal Pazar›’nda ifllem görmektedir.
In 2002:
• Marketing and sales of petroleum products, auto LPG and lubricants
were carried out at over 650 service stations and to more than 200
industrial/commercial customers.
• During the year, 14 new stations were opened and new investments
made for eight additional projects.
• Investments aimed at improving services, safety and appearance at 130
stations were completed within the framework of image building activities.
• Sales volume of gasoline products was 406,000 m3; market share in this
product group totaled 10.2%.
• Diesel oil sales amounted to 766,000 m3; market share stood at 7%.
• Sales volume of black products totaled 68,000 m3.
• The number of stations selling auto LPG increased to 223 with sales
totaling 150,000 m3.
• The automatic vehicle identification system, AYS (Fuel Management
System), was introduced at an additional seven stations; the total number
of stations equipped with AYS has now risen to 132.
According to financial statements as of December 31, 2002, prepared in
accordance with the Capital Markets Board Standards, Turcas Petrol
achieved net sales of TL 1,157,130 billion with a before tax profit of
TL 12,233 billion. Also in 2002, shareholders’ equity decreased to negative
TL 9,692 billion (in 2001: TL negative 36,110 billion) while asset size
reached TL 135,022 billion (in 2001: TL 132,854 billion).
However, taking into account the asset evaluation report prepared by
experts appointed by the 1st Commercial Court of First Instance in the
audited balance sheet dated 31.12.2002, total equity in the balance sheet
increased to TL 40,632 billion.
Turcas Petrol's profit in 2002 stood at TL 40,200 billion, excluding the
foreign exchange difference stemming from US dollar-based credits, the
associated financial expenses and items subject to five years' depreciation
resulting from the merger of Tabafl and Turcas in 1999.
According to financial statements prepared in line with International
Accounting Standards, Turcas Petrol achieved net sales of TL 1,299,007
billion, profit of TL 16,685 billion and shareholders’ equity of TL 87,472
billion in 2002.
At year-end 2002, approximately 16% of Turcas Petrol shares was traded
on the Istanbul Stock Exchange National Market.
‹maj gelifltirme faaliyetleri çerçevesinde 130
istasyonda hizmet, güvenlik ve görünümü gelifltirmek
için yap›lan yat›r›mlar tamamlanm›flt›r.
Investments aimed at improving services, safety and
appearance at 130 stations were completed within
the framework of image building activities.
03
Bilanço Özeti / Summary Balance Sheet
(milyar TL) / (TL billion)
Dönen Varl›klar / Current Assets
Haz›r De¤erler / Liquid Assets
Menkul K›ymetler / Marketable Securities
K›sa Vadeli Ticari Alacaklar / Short-Term Accounts Receivable
Stoklar / Inventories
Di¤er Dönen Varl›klar / Other Current Assets
Duran Varl›klar / Long-Term Assets
Uzun Vadeli Ticari Alacaklar / Long-Term Accounts Receivable
Finansal Duran Varl›klar / Financial Investments
Duran Varl›klar / Fixed Assets, net
Maddi Olmayan Duran Varl›klar / Intangible Assets
Di¤er Duran Varl›klar / Other Assets
Aktif Toplam› / Total Assets
2002
77,484
7,928
1,540
57,703
8,695
1,618
57,538
229
2,100
36,856
16,657
1,696
135,022
2001
71,317
27,098
30,355
11,851
2,013
61,537
476
847
33,545
25,887
782
132,854
2000
39,254
7,898
2,649
18,009
10,020
678
65,980
802
2,155
27,436
35,218
369
105,234
K›sa Vadeli Borçlar / Short-Term Liabilities
Finansal Borçlar / Borrowings
Ticari Borçlar / Accounts Payable
Di¤er K›sa Vadeli Borçlar / Other Short-Term Liabilities
Uzun Vadeli Borçlar / Long-Term Liabilities
Özsermaye / Shareholders’ Equity
Sermaye / Share Capital
Emisyon Primi / Share Premium
Yeniden De¤erleme De¤er Art›fl› / Revaluation Fund
Yedekler / Reserves
Geçmifl Y›l Kar› (Zarar›) / Previous Year’s Profit (Loss)
Net Dönem Kar› / Net Profit for the Year
Pasif Toplam› / Total Liabilities and Shareholders’ Equity
73,965
52,823
18,921
2,221
70,750
(9,693)
26,330
2,595
36,891
2,085
(89,827)
12,233
135,022
167,632
147,234
14,514
5,884
1,332
(36,110)
26,330
2,595
22,706
2,085
(13,862)
(75,964)
132,854
47,652
27,993
16,956
2,703
46,479
11,103
7,330
1,723
13,828
2,085
(1,531)
(12,332)
105,234
2002
1,157,130
(1,104,125)
53,005
(42,571)
10,434
(20,843)
11,250
(3,423)
14,815
12,233
2001
762,702
(715,101)
47,601
(32,533)
15,068
(106,728)
20,435
(4,875)
136
(75,964)
2000
561,179
(533,744)
27,434
(21,419)
6,015
(23,924)
6,415
(988)
152
(12,332)
Gelir Tablosu Özeti / Summary Income Statement
(milyar TL) / (TL billion)
Net Sat›fllar / Net Sales
Sat›lan Mal›n Maliyeti / Cost of Goods Sold
Brüt Sat›fl Kar› (Zarar›) / Gross Margin
Faaliyet Giderleri / Operating Expenses
Faaliyet Kar› / Operating Income
Finansman Giderleri / Financial Expenses
Di¤er Faaliyet Gelirleri / Other Operating Income
Di¤er Faaliyet Giderleri / Other Operating Expenses
Ola¤anüstü Gelirler / Extraordinary Income
Net Dönem Kar› / Net Profit
2001-2002 Dolar Kuru
2001-2002 Dollar Exchange Rate
Ham Petrol Fiyatlar› (ABD Dolar›/Varil)
Crude Oil Prices (US$/Barrel)
1,800,000
01.10.2002
01.07.2002
01.04.2002
01.01.2002
01.10.2001
01.07.2001
01.04.2001
01.01.2001
01.09.2002
01.11.2002
01.07.2002
01.05.2002
01.03.2002
01.01.2002
01.11.2001
01.09.2001
01.07.2001
01.05.2001
01.03.2001
01.01.2001
01.11.2000
01.09.2000
01.07.2000
01.05.2000
01.03.2000
0
01.01.2000
5
0
01.10.2000
10
200,000
01.07.2000
15
400,000
01.04.2000
20
600,000
01.01.2000
25
800,000
01.10.1999
30
1,000,000
01.07.1999
35
1,200,000
01.04.1999
1,400,000
01.01.1999
40
1,600,000
F‹NANSAL GÖSTERGELER / FINANCIAL HIGHLIGHTS
Sermaye
Share Capital
Net Sat›fllar
Net Sales
00 01 02
00 01 02
milyar TL
TL billion
milyar TL
TL billion
milyar TL
TL billion
milyar TL
TL billion
135,022
7,330
39,254
561,179
762,702
105,234
77,484
26,330
00 01 02
132,854
00 01 02
71,317
1,157,130
Aktif Toplam›
Total Assets
26,330
Dönen Varl›klar
Current Assets
Turcas Petrol 2003 y›l›n› özel bir y›l yapmak için gerekli mali
güce, personel ve yönetime sahiptir.
Turcas Petrol has the financial strength, the
personnel and the leadership in place to make
2003 a special year.
05
05
BAfiKAN’IN MESAJI / CHAIRMAN’S MESSAGE
Y›l›n büyük bölümünde borç azaltmaya odaklanan
Turcas Petrol, 2002 y›l›nda pazar paylar›n› 2001 seviyesinde
tutmay› baflarm›flt›r.
Turcas Petrol, which focused on debt reduction for much
of the year, maintained its market shares at 2001 levels.
De¤erli Hissedarlar›m›z, Bayilerimiz ve Müflterilerimiz,
2002 y›l›n›n geliflmelerine geçmeden önce sevgili
dostumuz, fiirketimiz hissedar› ve Yönetim Kurulu Baflkan
Yard›mc›m›z Say›n Kaya Baban’›n geçti¤imiz Ekim ay›ndaki
ani vefat›na de¤inmek istiyorum.
Kaya Baban’›n vefat› tüm camiam›z› derinden sarst› ve
üzdü. Sizlerden gelen samimi ilgiye ve taziyete kalpten
teflekkür ederiz.
Kaya Baban’›n Turcas Petrol’e k›ymetli katk›lar› her zaman
hat›rlanacak ve sizleri temin ederim ki onun hedefledi¤i
vizyona eriflmek için - yani Turcas Petrol’ü Türkiye’nin ilk
tercih edilen ve en sayg›n akaryak›t da¤›t›m flirketi yapmak
için gayretlerimize devam edece¤iz.
2002 y›l›nda memleket ekonomisinde uzun zamand›r
özlenen müspet bir geliflmeyi nihayet görmeye bafllad›k.
3 Kas›m sonucu ortaya ç›kan tek parti iktidar›n›n
sa¤layaca¤› istikrar ve Hükümetin bir önceki koalisyon
Hükümeti zaman›nda al›nan ekonomik reformlar›
sürdürme azmi ilerisi için ümit vericidir.
Ekonomik göstergelere bak›nca, gayri safi has›lada 2001
y›l›nda kaydedilen %9.4 düflüfle mukabil 2002 y›l›nda
%7.8’lik bir art›fl olmufl, tüketici fiyatlar› 2001 y›l›nda %68.5
artarken 2002 y›l›nda %29.7 olarak gerçekleflmifltir.
Bunlar ekonominin düzelmekte oldu¤unun bariz
göstergeleridir.
Dear Shareholders, Dealers, and Customers,
Before I discuss the highlights of 2002, I would like to pause
and reflect on the tragic death of Kaya Baban. Kaya was a
close personal friend, a major Turcas Petrol shareholder, and
the Vice Chairman of the Board of Directors of Turcas Petrol.
We, at Turcas Petrol, were shocked and deeply saddened by
his untimely death this past October. Kaya’s contribution to
Turcas Petrol will be missed. We were gratified by the
tremendous response from you, and offer our heartfelt thanks
for it.
We also want to assure you that Turcas Petrol will carry on
and continue to work towards our vision of being Turkey’s
favorite and most respected petroleum products distribution
company.
2002 was a year that saw Turkey turn the corner and firmly
head towards a long overdue economic recovery.
The economic recovery should be further aided by the clarity
of the election results of November 3. These elections
resulted in a strong single party government that has
committed to following through on the reforms begun by the
previous coalition government.
In terms of the economy, the GNP grew at a rate of 7.8%
versus a drop of 9.4% in 2001. CPI dropped from 68.5% to
29.7%. These are all good indications of a strengthening
economy.
Ancak, akaryak›t tüketiminde henüz bir art›fl
kaydedilmemifltir. Benzinlerde talep %4.2 oran›nda
azalm›flt›r. Bu, 2001 y›l›nda yaflanan %11 oran›ndaki talep
düflüflünü takip eden bir daralmad›r. Motorin sat›fllar›nda
ise %5.1 oran›nda bir art›fl görünmekte ancak bu netice
yasal olmayan ve kayda al›nmayan s›n›r ticaretindeki
azalmadan kaynaklanmaktad›r.
However, there was no growth in fuels demand and the
national demand for gasolines declined by 4.2% in 2002
reflecting the depth of the crisis. This follows a decline of
11% in 2001. National demand for diesel however,
appeared to increase by 5.4%. We believe this growth is, in
reality, a result of a reduction in illegal border trade.
Turcas’›n Elde Etti¤i Sonuçlar
Turcas Results
fiirketimizin 2002 y›l›nda banka borçlar›n› 27.3 milyon ABD
Dolar› azaltt›¤›n› memnuniyetle bildiririm. 2001 y›l›nda
yap›lan 14 milyon ABD Dolar› tutar›nda ödemeyle birlikte,
ekonomik s›k›nt›lar›n en yo¤un yafland›¤› bir dönemde
toplam 40 milyon ABD Dolar›’n›n üstünde bir borç
ödemesi gerçeklefltirilmifltir.
I am happy to be able to declare that during 2002 debt has
been reduced by US$ 27.3 million. This is in addition to the
US$ 14 million of debt reduction in 2001. So, during a trying
economic time, Turcas Petrol has reduced debt by over US$
40 million.
Turcas Petrol benzin sat›fllar›nda %10.2 ve motorin
sat›fllar›nda %7 ile 2001 y›l›ndaki pazar pay›n› korumufltur.
Ancak, y›l›n son çeyre¤inde fiirket imaj›n› gelifltirmeye
yönelik yat›r›mlar›m›z ve yo¤un bir reklam kampanyas› ile
destekledi¤imiz k›ymetli bayi teflkilât›m›z›n aktif gayretleri
neticesinde sat›fllar›m›z keskin bir yükselifl göstermifl ve
Aral›k ay›nda pazar paylar›m›z benzinde %11 ve motorinde
%7.6’ya yükselmifltir.
Turcas Petrol, which focused on debt reduction for much of
the year, maintained its market share in gasoline at 10.2%
and 7% in diesel, the same as in 2001. However the results
for the month of December 2002 showed a solid
improvement in market share for the first time in several
months, with market shares of 11.0% and 7.6% for gasoline
and diesel, respectively.
This result was accomplished through a committed network of
excellent dealers, an active re-imaging program, the decision to
launch an aggressive media promotion campaign in the fall.
07
BAfiKAN’IN MESAJI / CHAIRMAN’S MESSAGE
‹stasyonlar›m›zda bu y›l yaklafl›k 150,000 m3 otogaz sat›fl› gerçeklefltirdik.
Otogaz pazar›n›n h›zl› geliflme evresini tamamlad›¤› ve art›k geçmifl y›llarda
kaydedilen h›zl› büyümenin devam etmeyece¤i kanaatindeyiz.
Yönetim Kurulu’ndaki De¤ifliklikler
2002 y›l›nda Conoco’dan William (Rick) Hamm istifa etmifl, yerine
ConocoPhillips Uluslararas› Rafinaj-Da¤›t›m Baflkan› Greg Goff atanm›flt›r.
Daha önce de belirtti¤im gibi Kaya Baban’›n üzücü vefat› yönetim kurulunda
henüz doldurulmam›fl bir boflluk yaratm›flt›r.
Kalite, Emniyet ve Çevre
Turcas Petrol müflterilerine kaliteli ürün ve hizmet sa¤lama taahhüdüne s›k›
ba¤l›l›¤›n› her zamanki gibi devam ettirmektedir. Bu amac›m›z› 1) Türkiye
piyasas›n›n gerektirdi¤i ürün flartnamelerine uygun üretim yapan sayg›n
rafinerilerden ürün sat›n alarak, 2) Kalite kontrol görevlilerimizce bütün
istasyonlar›m›zda sürekli ve ani kontrol denetimleri yaparak, 3) Etkin e¤itim
program›m›z sayesinde servis elemanlar›m›z›n mükemmel hizmet sunumunu
sa¤layarak, 4) Müflteri tatminine gereken odaklanmay› sa¤lamak için
bayilerimizle düzenli olarak görüflen etkin sat›fl personelimizle
gerçeklefltiriyoruz. Geçmiflte birçok kez belirtti¤im üzere, Turcas Petrol
hiçbir zaman flüpheli kaynaklardan ürün al›p satarak ürün kalitesinden ödün
vermeyecektir. Kalite konusundaki sayg›nl›¤›m›z› koruyacak tedarikçiler tercih
edilmektedir.
2002 y›l›nda emniyet performans›m›z son derece tatminkâr bir seyir
göstermifltir. 2001 y›l› bu konuda çok büyük geliflme kaydetti¤imiz bir y›l
olmufl, 2002 y›l›nda bu geliflme korunmufltur. Yönetimimiz emniyet ve
çevreyi koruma ilkelerine ba¤l›l›¤›n› sürdürmekte ve her f›rsatta hem
güvenlik hem çevreyi koruma konusundaki duyarl›l›¤› desteklemektedir. Bu
alanlardaki performans›m›zda en ufak bir sapmaya derhal önlem al›nacakt›r.
Turcas Petrol sosyal sorumluluk sahibi önder bir kurumsal vatandafl olma
ilkesine ba¤l›l›¤›n› sürdürmektedir.
Gelecek
Turcas Petrol 2003 y›l›nda, 2002 y›l›n›n sonlar›nda bafllatt›¤› baflar›l› yeni
imaj, reklam ve promosyon kampanyalar›na devam edecektir. Bununla
beraber borçlar›m›z› azaltmaya devam edece¤iz. Turcas Petrol 2003 y›l›n›
özel bir y›l yapmak için gerekli mali güce, personel ve yönetime sahiptir.
Türkiye, geliflmifl devletler aras›nda hak etti¤i yeri almak için gereken
reformlar› gerçeklefltirdikçe ileriye dönük umutlar›m›z artmaktad›r.
Yönetim Kurulu ad›na, ortaklar›m›za süregelen destekleri, bayilerimize bize
olan ba¤l›l›klar› ve çal›flanlar›m›za yaflad›¤›m›z bu zor dönemlerde ola¤anüstü
çal›flkanl›klar› için teflekkürlerimi iletirim.
Sayg›lar›mla,
Erdal Aksoy
Yönetim Kurulu Baflkan›
Turcas Petrol hiçbir zaman flüpheli kaynaklardan ürün al›p satarak
ürün kalitesinden ödün vermeyecektir. Kalite konusundaki
sayg›nl›¤›m›z› koruyacak tedarikçiler tercih edilmektedir.
Turcas Petrol will never sacrifice product quality by
buying and selling product of dubious origin. Our
choice of suppliers protects our reputation for quality.
We sold nearly 150,000 m3 of auto LPG at our sites during the year. This
market appears to have matured and we do not expect a return to the rapid
growth we experienced in 1999 and 2000.
Changes on the Board of Directors
In 2002, Mr. William (Rick) Hamm of Conoco resigned and Mr. Greg Goff,
President of ConocoPhillips International Downstream, replaced him. And, as I
mentioned earlier, the tragic death of Kaya Baban has left a vacancy on the
Board, which as yet remains unfilled.
Quality, Safety and the Environment
Turcas Petrol remains as strongly committed as ever to delivering quality
products and service to our customers. We achieve this goal by; 1) purchasing
products from reputable refiners that can deliver products that meet the strict
specifications of the Turkish market, 2) routine and unscheduled quality control
checks at all our sites by our quality control staff, 3) having an active training
program to ensure the pump attendants, who serve our customers, provide
excellent service, 4) an active sales staff who meet regularly with our dealers
to ensure that we maintain a strong focus on customer satisfaction. As I have
indicated many times in the past, Turcas Petrol will never sacrifice product
quality by buying and selling product of dubious origin. Our choice of suppliers
protects our reputation for quality.
In 2002, Turcas Petrol achieved the same excellent safety results we
experienced in 2001, which was a year of tremendous improvement.
Management remains committed to the importance of safety and maintaining
a healthy environment, and actively promotes safety and environmental
awareness at every opportunity. Any slippage in our performance in these
areas will be dealt with immediately. Turcas Petrol is committed to being an
outstanding corporate citizen.
The Future
In 2003, Turcas Petrol will continue with the successful re-imaging, advertising
and Sales promotion campaigns, which began in the fall of 2002. But we will
also remain focused on continued debt reduction. Turcas Petrol has the
financial strength, the personnel, and the leadership in place to make 2003 a
special year. For the country, we expect great things as Turkey continues to
make the changes which will allow it take its rightful place as a full member of
the community of developed nations.
The coming year contains the uncertainties over the future in Iraq and the
surrounding area and we will adjust our 2003 plans as necessary to take into
account any impact in the region and the Turkish economy.
The Board of Directors thanks our shareholders for their continued support, our
dealers for their loyalty and dedication, and our employees for their hard work
during these trying times.
Yours sincerely,
Erdal Aksoy
Chairman
09
Erdal Aksoy
• Baflkan
• Chairman
Kaya Baban
Greg J. Goff
Y›lmaz Tecmen
(23.05.2001-20.10.2002)
(04.09.2002’den itibaren/As from)
• Yönetim Kurulu Baflkan Yard›mc›s› ve
Murahhas Üye
• Vice Chairman and Executive Member
• Üye
• Director
• Üye
• Member
Alistair Clark
Osman E. V. Kerman
Bülent Çorapç›
• Üye ve Genel Müdür
• Member and General Manager
• Üye
• Member
• Üye
• Member
YÖNET‹M KURULU / BOARD OF DIRECTORS
YÖNET‹M / MANAGEMENT
Alistair Clark
Nezihi Tümer
Mehmet Erbasan
Osman Kazdal
• Genel Müdür
• General Manager
• Genel Müdür Yard›mc›s›
• Genel Müdür Yard›mc›s›
Finans ve Bilgi ‹fllem
Operasyon ve Lojistik
• Senior Deputy General Manager • Assistant General Manager
Finance & IT
Operations & Logistics
Douglas Taylor
• Akaryak›t Sat›fllar› Müdürü
• Fuels Sales Manager
• Pazarlama Servisleri Müdürü
• Marketing Services Manager
Sadettin ‹mrek
Cabbar Y›lmaz
Süleyman Asutay
Fatma Aytaç
Ayfle Oral
• Hukuk Müflaviri
• Legal Advisor
• Bayi Destek Müdürü
• Dealer Support Manager
• Finansman Müdürü
• Finance Manager
• IM Müdürü
• IM Manager
• Muhasebe Müdürü
• Accounting Manager
Aynur Göksel
Latif Aral
Kemal Günay
Bahri Yüre¤ir
Hülya Dinçer
• Kredi Kontrol Müdürü
• Credit Control Manager
• Ticari Sat›fllar Müdürü
• Commercial Sales Manager
• Operasyon Müdürü
• Operations Manager
• Tedarik Müdürü
• Supply Manager
• Sa¤l›k, Emniyet ve
Çevre Koordinatörü
• Safety, Health and
Environment Co-ordinator
O¤uz Gönenç
Ece Metin
• Sat›nalma Müdürü
• Purchasing Manager
• ‹nsan Kaynaklar› Koordinatörü
• Human Resources
Co-ordinator
11
2002 y›l›nda, Turcas Petrol ve di¤er önde gelen
akaryak›t da¤›t›m flirketleri, ba¤›ms›z bir yabanc›
dan›flmanl›k flirketi taraf›ndan gerçeklefltirilen bir
sektörel k›yaslama çal›flmas›na kat›lm›flt›r.
In 2002, Turcas Petrol and the other major fuel distribution
companies participated in an industry benchmarking process
conducted by an independent foreign consulting company.
SERMAYE VE ORTAKLIK YAPISI / CAPITAL AND SHAREHOLDER
Sermaye ve Ortakl›k Yap›s›
2002 mali y›l› içinde fiirket’in sermayesinde herhangi bir de¤ifliklik olmam›flt›r. fiirket hisseleri A, B ve C olmak
üzere üç gruba ayr›lm›flt›r. C Grubu hisselerin tümü, Turcas Petrol’ün %28.52’sine sahip yabanc› ortak
Conoco Petroleum Inc.’e aittir. fiirket’in ortaklar›ndan ve Yönetim Kurulu Baflkan Vekili Say›n Baha Kaya Alp
Baban’›n 20 Ekim 2002 tarihinde vefat› sonucunda ‹stanbul 6. Sulh Mahkemesi taraf›ndan varisleri tayin
edilmifl ancak henüz miras da¤›l›m ifllemleri tamamlanmam›flt›r.
Turcas Petrol’ün 26,330,233,183,000 TL olan sermayesinin da¤›l›m› afla¤›daki gibidir:
1) A GRUBU
13. Tertip nama yaz›l›
Adet
7,330,083,183
Tutar
7,330,083,183,000
2) A GRUBU
14. Tertip nama yaz›l›
19,000,000,000
19,000,000,000,000
3) B GRUBU
13. Tertip nama yaz›l›
112,500
112,500,000
4) C GRUBU
13. Tertip nama yaz›l›
37,500
37,500,000
Capital and Shareholder Structure
The Company recorded no capital increases in 2002. Turcas Petrol shares are divided into A, B, and C groups; all
C Group shares belong to the foreign partner Conoco Petroleum Inc. which owns 28.52% of the shares. Following
the death of our shareholder and Vice Chairman Mr. Baha Kaya Alp Baban on October 20, 2002, the Istanbul
Sixth Civil Court established his heirs but the formalities for the distribution of his estate have not yet been
completed.
The capital structure (TL 26,330,233,183,000) of Turcas Petrol breaks down as follows:
Number
Amount
1) GROUP A
Registered shares in 13th Series and Group A
7,330,083,183
7,330,083,183,000
2) GROUP A
Registered shares in 14th Series and Group A
19,000,000,000
19,000,000,000,000
3) GROUP B
Registered shares in 13th Series and Group B
112,500
112,500,000
4) GROUP C
Registered shares in 13th Series and Group C
37,500
37,500,000
13
STRUCTURE
Turcas’›n Rekabet Gücü
2002 y›l›nda, Turcas Petrol ve di¤er önde gelen
akaryak›t da¤›t›m flirketleri, ba¤›ms›z bir yabanc›
dan›flmanl›k flirketi taraf›ndan gerçeklefltirilen bir
sektörel k›yaslama çal›flmas›na kat›lm›flt›r. Söz konusu
flirket, verileri toplayarak analiz etmifl ve gizlili¤i
muhafaza ederek, çeflitli önemli alanlarda mevcut
rekabete karfl›l›k Turcas Petrol’ün etkinli¤i hakk›nda
raporlar haz›rlam›flt›r.
Bu raporlardan al›nan, Turcas Petrol’le ilgili baz›
ayr›nt›lar flöyledir:
• Perakende sat›fl noktalar› arac›l›¤›yla yap›lan sat›fllar›n
yüzdesi yüksek,
• ‹stasyon bafl› LPG hacmi yüksek,
• Birincil da¤›t›m maliyeti düflük,
• Merkezi ifl fonksiyonlar›n›n maliyeti düflük,
• ‹stasyon bafl› maliyet ve sermaye düflük.
Turcas Petrol yönetimi, araflt›rman›n fiirket’in bilinçli
maliyet yönetimi çerçevesinde yönetildi¤ine dair
inanc›n› destekledi¤ini görmekten memnuniyet
duymaktad›r. Eriflilen yüksek LPG hacmi de, 1998’de
‹pragaz’la birlikte otogaz pazar›n› gelifltirmeye
bafllad›¤›nda sahip oldu¤u vizyonun do¤rulu¤unu
kan›tlamaktad›r.
Yap›lan di¤er karfl›laflt›rmalar performans›n
iyilefltirilebilece¤i alanlara iflaret etmektedir.
• Bayi a¤›nda düflük performansl› önemli say›da
istasyon bulunmas› nedeniyle istasyon bafl› ortalama
hacim düflüktür. Y›l içinde, 60 istasyon kapat›larak a¤
optimizasyonu gerçeklefltirilmifltir ve optimizasyona
daha fazla a¤›rl›k verilecektir.
• Müflteriye do¤rudan yap›lan ticari sat›fllar›n hacmi
nispeten düflüktür. Son y›llarda bu kanaldan
gerçeklefltirilen sat›fllarda art›fl görülmekle birlikte hala
önemli ölçüde geliflme f›rsat› bulunmaktad›r.
Turcas Petrol sektörel k›yaslama çal›flmalar›n›
desteklemekte ve bu uygulamalar›n gurur duyulacak
performans örneklerini ortaya ç›karman›n yan› s›ra
geliflme sa¤lanabilecek alanlar› da iflaret edece¤ini
düflünmektedir.
14
Turcas Petrol Competitive Position
In 2002, Turcas Petrol and the other major fuel
distribution companies participated in an industry
benchmarking process conducted by an independent
foreign consulting company. This company collected and
analyzed data and, while maintaining confidentiality,
reported on the effectiveness of Turcas Petrol versus the
competition in several key areas.
Some specific details related to Turcas Petrol from those
reports were:
• High percentage of volume sold through stations’ retail sales,
• High LPG volume per station,
• Low cost in primary distribution,
• Low cost of central business functions,
• Low cost and capital employed per station.
Turcas Petrol management was gratified to find that the
survey supported their belief that Turcas Petrol operates
in a cost-conscious manner. The high LPG volumes also
indicate the vision Turcas Petrol demonstrated when they
began developing the auto LPG market in 1998 together
with ‹pragaz.
Other comparisons indicated areas where opportunities
exist to improve performance.
• Because of a significant number of very small stations
within the network, the average volume per site was low.
Network optimization, through the closure of 60 stations,
took place during the year and further optimization will
take place.
• Relatively low direct to consumer commercial sales
volume. Although this channel of the business has grown
in recent years, there are still significant opportunities for
growth available.
Turcas Petrol supports industry benchmarking and looks
forward to the future with confidence that its performance
in these exercises will reveal areas in which they can take
pride and, just as importantly, areas where they will be
challenged to improve.
Turcas Petrol sektörel k›yaslama çal›flmalar›n› desteklemekte ve bu
uygulamalar›n gurur duyulacak performans örneklerini ortaya
ç›karman›n yan› s›ra geliflme sa¤lanabilecek alanlar› da iflaret
edece¤ini düflünmektedir.
Turcas Petrol supports industry benchmarking and looks forward
to the future with confidence that its performance in these
exercises will reveal areas in which they can take pride and, just
as importantly, areas where they will be challenged to improve.
FAAL‹YETLER / OPERATIONS
FAAL‹YETLER / OPERATIONS
Yeni ‹maj
Turcas Petrol, istasyonlar›nda genel görünümden markete ve pompac›
k›yafetlerine kadar yeni imaj çal›flmas› bafllatm›flt›r. Bu kapsamda 130
istasyonun d›fl görünümü yenilenmifl ve 40 istasyonun marketinde de
yeni konsept uygulanmaya bafllanm›flt›r. 2003 y›l›nda da istasyon
yenileme çal›flmalar›na devam edilerek ülke çap›ndaki istasyon a¤›n›n
elden geçirilmesi planlanmaktad›r.
Yeni imaj da tüketiciler taraf›ndan çok iyi tan›nan "flapka" amblemi ön
plana ç›kar›lm›flt›r. Mavi renk bir ton koyulaflt›r›larak güçlendirilmifl ve
istasyon görüntüsünde çok önemli bir unsur olan fiyat panosuna ça¤dafl
bir görünüm kazand›r›lm›flt›r.
Yeni imaj uygulanan istasyonlar birbiri ard›na yap›lan aç›l›fl törenleriyle
tüketicilere tan›flt›r›lm›flt›r.
Sat›fl ve Pazarlama Faaliyetleri
Turcas Petrol, sektörde sürekli olarak baflar›yla rekabet edebilen,
müflteriler taraf›ndan ilk tercih edilen, farkl› ve sayg›n bir akaryak›t
da¤›t›m flirketi olmak amac›ndad›r. Bu hedefler do¤rultusunda Turcas
Petrol 2002 y›l›nda flu projeleri gerçeklefltirmifltir;
• Y›l sonu itibariyle, ülke geneline yay›lm›fl toplam 650’nin üzerinde
akaryak›t istasyonu ve 200’den fazla s›nai/ ticari müflterileri vas›tas›yla
akaryak›t ürünleri, oto LPG ve madeni ya¤ sat›fl ve pazarlama
faaliyetlerini sürdürmektedir.
• Y›l içinde 14 adet yeni istasyonu hizmete açm›fl ve sekiz adet yeni
istasyon projesi yat›r›m›na bafllam›flt›r. Bir taraftan verimli projelere
yat›r›m›n› sürdüren Turcas Petrol, di¤er taraftan verimlilik, imaj veya
çal›flma prensipleri yönüyle kendisine ve genel bayi teflkilat›na zarar
veren baz› istasyonlar› bayilik sisteminden ç›karm›flt›r.
• ‹maj gelifltirme program› çerçevesinde 130 adet istasyonda hizmet,
emniyet ve görünüm iyilefltirme yat›r›mlar› tamamlanm›flt›r.
• 2002’de daralmaya devam eden benzin pazar›nda 406,000 m3 sat›fl
gerçeklefltirerek %10.2 oran›ndaki pazar pay›n› korumufltur.
• Motorin sat›fllar›n› bir önceki y›la göre %4 art›rarak 766,000 m3 sat›fla
ulaflm›fl, pazar pay› %7 olarak gerçekleflmifltir.
New Image
Turcas Petrol has developed an exciting new image at its stations,
redesigning the general appearance of the premises, their adjacent minimarkets and even the uniforms of the pump attendants. To date, 130
stations have been renewed. A new design concept was also launched at
40 station shops. Station renovation projects will continue throughout the
year 2003; it is planned that the entire network will be modernized over
the coming years.
The "hat" emblem, one of Turkey’s best-recognized logos, has been given
added emphasis in the new image program. The familiar blue has been
made stronger. The price sign, constituting a very important factor in the
appearance of a station, has also been improved.
Stations with this exciting new visual appearances have been re-introduced
to the consumers with a strong program of opening ceremonies.
Sales and Marketing Activities
Turcas Petrol aims to gain a reputation as a distinguished and trustworthy
fuel distribution company successfully competing in the sector and to be
the first choice of the consumer. In order to achieve these objectives, the
following activities were undertaken during the year.
• The Company focused its activities on the sale and marketing of
petroleum products, auto LPG and lubricants through over 650 service
stations and more than 200 industrial/commercial customers in the
country.
• During the year, the Company established 14 new stations and made
investments for eight additional projects. While continuing its investments
for profitable projects, Turcas Petrol has terminated the dealership
contracts of certain stations, which did not meet its standards of efficiency,
visual appearance and working guidelines and policies and, which
negatively affected the Company’s image and that of the overall network.
• Within the framework of image building activities, investments to
improve services, safety and appearance at 130 stations were completed.
• Gasoline sales volume has reached 406,000 m3 in the year 2002 in
spite of a reduction in the market; the Company succeeded in maintaining
its market share at 10.2%.
• Diesel oil sales have shown an increase of 4% as compared to the
previous year and reached 766,000 m3 with the market share standing
at 7%.
Yeni imaj uygulanan istasyonlar birbiri ard›na yap›lan
aç›l›fl törenleriyle tüketicilere tan›flt›r›lm›flt›r.
Stations with this exciting new visual appearances
have been re-introduced to the consumers with a
strong program of opening ceremonies.
17
FAAL‹YETLER / OPERATIONS
• Siyah ürün pazar›n›n %6.2 oran›nda daralmas›na ra¤men Turcas
Petrol sat›fllar› %40 art›flla 68,000 m3’e ulaflm›flt›r.
• Turcas Petrol’ün ‹pragaz ile sürdürdü¤ü baflar›l› iflbirli¤i sayesinde, y›l
sonu itibariyle oto LPG satan istasyon say›s› 223, sat›fllar ise 150,000 m3
olarak gerçekleflmifltir.
• Sektördeki en geliflmifl otomatik araç tan›ma sistemi olan AYS
(Akaryak›t Yönetim Sistemi) yedi istasyonda daha hizmete sunularak
AYS’li istasyon say›s› 132’ye, sistemi kullanan araç say›s› ise 20,000’in
üstüne ç›kart›lm›flt›r.
• Bayi ve müflterilere daha iyi hizmet verilebilmesi amac›yla, Sat›fl
Teflkilat› yüksek kaliteli ve iyi e¤itimli elemanlarla güçlendirilmifltir.
• ‹stasyonlarda sat›lan ürünlerin kalitesi, gezici Kalite Kontrol ekipleri
taraf›ndan sürekli denetlenmifl, istasyon personeli e¤itimleri yo¤un bir
flekilde devam etmifl, bu flekilde müflteri memnuniyeti en üst seviyede
sa¤lanmaya çal›fl›lm›flt›r. Turcas Petrol’e ulaflan müflteri flikayetleri,
istisnas›z olarak, fiirket’in daha da gelifltirilece¤i birer f›rsat olarak
de¤erlendirilmifl, bu flikayetler en k›sa sürede giderilmeye çal›fl›lm›flt›r.
• Gerek Bayi Konseyi toplant›lar›, gerekse bölgesel toplant›lar organize
edilerek bayi teflkilat› ile sürekli ve yap›c› bir diyalog oluflturulmufl ve
iliflkiler güçlendirilmifltir.
Reklam Kampanyas›
Türkpetrol markas›n›n bilinirlili¤ini art›rmak ve tüketiciler taraf›ndan çok
iyi bilinen flapka amblemini canland›rmak amac›yla yap›lan reklam
kampanyas› "Türkiye’nin en meflhur flapkas›" ve "fiapka ç›kart›lacak
hizmet" sloganlar›yla TV, radyo ve aç›k hava mecralar›nda yer alm›flt›r.
Yönetmenli¤ini ödüllü yönetmen Sinan Çetin’in yapt›¤› reklam filminde
iki ünlü sanatç› Gazanfer Özcan ve Bülent Kayabafl rol alm›flt›r. Bu
reklam filmi elefltirmenler taraf›ndan dönemin en iyi reklam filmlerinden
biri olarak kabul edilmifltir.
‹stasyonlarda sat›lan ürünlerin kalitesi, gezici Kalite Kontrol
ekipleri taraf›ndan sürekli denetlenmifl ve istasyon personeli
e¤itimleri yo¤un bir flekilde devam etmifltir.
The quality of the products sold at stations is continuously
checked by mobile Quality Control teams and intense
training programs for station employees have continued.
• Despite the 6.2% shrinkage in the market for black products, Turcas
Petrol’s sales volume reached 68,000 m3 - an increase of 40%.
• As a result of the successful cooperation with ‹pragaz, the number of
stations selling auto LPG has risen to 223 with sales totaling 150,000 m3.
• AYS (Fuel Management System), the most advanced automatic vehicle
identification and fleet refueling system in the sector, was introduced at
seven more stations. The number of stations equipped with this system
has increased to 132; more than 20,000 vehicles now utilize this system.
• The Company’s Sales Organization has been reinforced with highly
qualified, well-trained employees, with the aim of rendering improved
services to dealers and customers.
• The quality of the products sold at stations is continuously checked by
mobile Quality Control teams; intense training programs for station
employees have continued. The Company has exerted their best efforts for
achieving customer satisfaction at the highest possible levels. Any customer
complaints received by the Company have, without exception, been
considered as an opportunity for further improvement. All complaints are
addressed and remedied as quickly as possible.
• Continuous and constructive communications have been established with
the dealership network at Dealer Council meetings as well as regional
meetings, helping to the reinforcement of commercial relationships.
Advertising Campaign
The advertising campaign to revitalize the "hat" emblem, with which the
consumers are already very familiar, was launched on TV, radio and
outdoor media with slogans such as "Turkey’s most famous hat" and "Take
your hats off to this service." Gazanfer Özcan and Bülent Kayabafl, two
well-known artists acted in the advertising film produced by Sinan Çetin, an
international award-winning director. This advertising film was recognized
as one of the best TV commercials of the period by all critics.
19
Bayi Konseyi
Sektörde ilk ve tek olan, bayi konseyi bayiler taraf›ndan
seçilmifl on bayi ve dört Turcas Petrol yöneticisinden
oluflmaktad›r. Y›l içinde üç kez toplanan konseyde,
Turcas Petrol’ün yeni imaj›, servis personeli üniformas›,
promosyonlar ve pazarlama programlar› gibi önemli
konularda görüfl bildirilmifltir.
Bayi Toplant›s›
Türkpetrol’ün 66. kurulufl y›l› an›s›na K›br›s’ta
düzenlenen bayi toplant›s›nda yenilenen imaj, sat›fl ve
pazarlama planlar›, petrol sektöründeki geliflmeler ve
ileriye dönük planlar bayilere anlat›lm›flt›r. Toplant›ya
kat›l›m hem kat›l›mc› say›s› aç›s›ndan hem de görüflülen
konu kapsam› aç›s›ndan oldukça dolu olarak
gerçekleflmifltir.
Yeni Yat›r›mlar
Turcas Petrol 2001 ve 2002 y›l› içinde de maliyet ve
harcamalar›n› s›k› kontrol alt›na alma stratejisini
sürdürerek sadece terminallerde emniyet, güvenlik ve
bak›mla ilgili temel yat›r›mlar gerçeklefltirmifltir.
Azalan ifl hacmi ve borçlar› düflürme ihtiyac› sonucunda
Turcas I ve Turcas II tankerlerinin sat›fl› 2002 y›l›nda
baflar›yla tamamlanm›flt›r.
Atafl Rafinerisi’nde üretim optimizasyonu çerçevesinde,
ürün balans›n› sa¤lamak üzere 40,000 ton motorin
ithalat› gerçeklefltirilmifltir.
Akaryak›t-d›fl› Faaliyetler / Castrol, ‹pragaz,
Worldcard, PMSA, HSBC
Turcas-Castrol iflbirli¤i, anlaflman›n tekrar uzat›lmas›yla
devam ettirilmifltir. Castrol’ün yeni sat›fl ve da¤›t›m
uygulamas›, sorunsuz bir flekilde istasyonlarda
bafllam›flt›r.
Dealer Council
The Dealer Council, the first and only one in the sector, is
composed of 14 members; 10 chosen by dealers and
four Turcas Petrol managers. The Council held three
meetings during the year at which views were exchanged
on vital issues such as the new image of Turcas Petrol,
promotions, advertising marketing programs, and the
uniforms of station employees.
Dealers’ Meeting
During the Dealers’ Meeting held in Cyprus on the
occasion of the 66th anniversary of Türkpetrol, dealers
were briefed on the new image, sales and marketing
plans, the developments in the petroleum sector and
future projects. Participation was exceptionally high both
in number of attendees and in contribution of views.
New Investments
In line with the Company’s strategy of rigorously
controlling costs and cash outlays during 2001 and 2002,
only essential investments associated with safety, security
and maintenance were made at the terminals.
As a result of lower business volume and the need to
achieve a reduction in debt, a decision was made to sell
the two tankers, Turcas I and Turcas II. The sale of these
two vessels was successfully accomplished in early 2002.
In order to maintain product balance and optimization in
production at the Atafl Retinery, 40,000 tons of diesel oil
was imported.
Non-fuel Related Activities / Castrol, ‹pragaz, Worldcard,
PMSA, HSBC
The well established Turcas-Castrol lubricants cooperation
was extended with the renewal of the relevant agreement
and Castrol’s new sales and marketing system was
introduced to the dealers.
20
Turcas-Castrol iflbirli¤i, anlaflman›n tekrar uzat›lmas›yla devam
ettirilmifltir. Castrol’ün yeni sat›fl ve da¤›t›m uygulamas›,
sorunsuz bir flekilde istasyonlarda bafllam›flt›r.
The well established Turcas-Castrol lubricants cooperation was
extended with the renewal of the relevant agreement and
Castrol’s new sales and marketing system was introduced to
the dealers.
FAAL‹YETLER / OPERATIONS
FAAL‹YETLER / OPERATIONS
‹pragaz oto LPG tesisi say›s› 223’e ulaflm›flt›r.
Yap› Kredi Bankas› ile yap›lan anlaflma kapsam›nda Worldcard kullan›m›
ile istasyonlarda yeni müflteri trafi¤i yarat›lm›flt›r.
Philip Morris ile yap›lan anlaflma kapsam›nda tüm istasyon marketlerine
sigara standlar›n›n yerlefltirilmesine bafllanm›flt›r.
HSBC ile olan ATM makineleri yerlefltirme anlaflmas› yenilenerek bir y›l
uzat›lm›flt›r.
‹nsan Kaynaklar›
31 Aral›k 2002 itibariyle Turcas Petrol’de 36 kad›n ve 152 erkek
personelden oluflan toplam 188 kifli çal›flmaktad›r.
Maafllar ve Toplu ‹fl Sözleflmeleri
Turcas Petrol herhangi bir Toplu ‹fl Sözleflmesi’ne taraf de¤ildir. 2002
y›l› boyunca, içinde bulunulan ekonomik koflullar ve rakiplerin
uygulamalar› do¤rultusunda ücretlere iki kez genel zam yap›lm›flt›r. Buna
ek olarak ve fiirket’in performansa dayal› ücret felsefesi çerçevesinde,
çal›flanlar›n önceki y›ldaki bireysel performanslar›na ba¤l› olarak baflar›
ödülleri verilmifltir.
K›dem Tazminat› Yükümlülü¤ü
Aral›k 2002 itibariyle, fiirket’in yönetmelik gere¤i k›dem tazminat›
yükümlülü¤ü toplam 1,648,072 milyon TL olarak gerçekleflmifltir.
Personel ‹liflkileri, Felsefesi ve Yan Ödenekler
Turcas Petrol’ün politikas›, fiirket’in mevcut personeline ve ifl
baflvurusunda bulunan kiflilere, ›rk, renk, inanç, etnik veya ulusal köken,
cinsiyet, cinsel e¤ilim, medeni hal, yafl veya sakatl›l›k ayr›m› gözetmeden
davranmakt›r. fiirket tüm çal›flanlar›na, flirket içinde yeteneklerine ve
potansiyellerine dayal› olarak yükselebilmeleri konusunda f›rsat eflitli¤i
yaratmak konusunda kararl›d›r.
E¤itim çal›flmalar›na devam edilerek toplam 425
istasyondan 2,223 pompac› emniyet, ürün bilgisi ve hizmet
konular›nda e¤itime al›nm›flt›r.
Training activities continued and 2,223 staff from 425
stations were trained on matters regarding safety, product
information and services.
‹pragaz auto LPG facilities are now installed at 223 stations.
Under an agreement concluded with Yap› Kredi Bank; the Worldcard
loyalty card was introduced throughout the network, helping to increase
the number of customers.
Cigarette display stands have been installed at all station markets within
the framework of an agreement concluded with Philip Morris.
The ATM installment agreement with HSBC was renewed and extended
for another year.
Human Resources
As of December 31, 2002, Turcas Petrol had a workforce of 188
employees, made up of 36 females and 152 males.
Salaries and Collective Bargaining Agreements
Turcas Petrol is not party to any Collective Bargaining Agreement. During
2002, the Company made two general salary increases in line with
prevailing economic conditions and competitive practices. In addition, and
in line with the Company’s philosophy with respect to performance-related
remuneration, merit awards were made based on individual employee
performance during the previous year.
Severance Pay Liabilities
As of December 2002, and as required by regulation, the Company’s
severance pay liabilities to its employees totaled TL 1,648,072 million.
Employee Relations, Philosophy and Benefits
It is Turcas Petrol’s policy to treat employees and job applicants without
regard to race, color, creed, ethnic or national origins, gender, sexual
orientation, marital status, age or disability. The Company is committed to
providing equal opportunities for all employees so that they may progress
within the Company according to their performance, ability and potential.
23
Turcas Petrol’ün insan kaynaklar› politikas›, tüm
çal›flanlar› organizasyonun bütün kademelerinde
yar›flmaya teflvik edici ve ödüllendirici bir ortam
yaratmaktad›r. Amaçlara yönelik 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›lan yöntemlerdir.
Yasal olarak ödenen ayl›k maafllara ek olarak, fiirket
afla¤›daki ücret d›fl› yararlar› sa¤lamaktad›r:
• Ücretli izin
• Y›lda dört ikramiye
• K›dem primleri
• Y›ll›k tatil harc›rah›
• Sa¤l›k ve yaflam sigortas›
• Do¤um, ölüm ve evliliklerde mali destek
• Mesai saatleri içinde yemek ve ulafl›m harcamalar›nda
destek
Bunlara ek olarak, mavi yakal› çal›flanlar yakacak yard›m›,
giyecek yard›m› ve dini bayram ödemeleri almaktad›rlar.
Bütün bu yard›mlar, rakip uygulamalara paralel olarak,
düzenli flekilde gözden geçirilmektedir.
E¤itim
E¤itim çal›flmalar›na devam edilerek toplam 425
istasyondan 2,223 pompac› emniyet, ürün bilgisi ve
hizmet konular›nda e¤itime al›nm›flt›r. Bu y›l ilk kez
teorik e¤itimlerden sonra uygulamal› e¤itimlerde
yap›lmaya bafllanm›fl ve 820 pompac›ya ifl bafl›nda
uygulamal› e¤itim verilmifltir.
24
Turcas Petrol’s human resource management activities
create a challenging and rewarding environment for all
employees throughout the entire organization.
Management by objectives and employee appraisals are
routinely used to improve performance, motivation,
communication, development, assess training needs and
ensure that each employee is rewarded in accordance
with his or her performance.
In addition to legally required monthly salary payments,
the Company provides the following fringe benefits:
•
•
•
•
•
•
•
Paid vacations
Four bonuses annually
Seniority bonuses
Annual vacation allowance
Health and life insurance
Financial support in the event of birth, death and marriage
Work-related meals and transportation
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 competitive practices.
Training
Training activities continued and 2,223 staff from 425
stations were trained on matters regarding safety, product
information and services. In addition to this classroom
training, a further 820 staff were given on-site practical
training.
Turcas Petrol’ün insan kaynaklar› politikas›, tüm çal›flanlar›
organizasyonun bütün kademelerinde yar›flmaya teflvik
edici ve ödüllendirici bir ortam yaratmaktad›r.
Turcas Petrol’s human resource management activities
create a challenging and rewarding environment for all
employees throughout the entire organization.
Turcas Petrol Anonim fiirketi
31 Aral›k 2002 ve 2001 Tarihlerinde Sona Eren
Hesap Dönemlerine Ait Mali Tablolar ve Ba¤›ms›z Denetim Raporu
Turcas Petrol Anonim fiirketi
Financial Statements for the Years Ending on December 31, 2002 and 2001
With Independent Auditor’s Report
Turcas Petrol Anonim fiirketi’nin
31 Aral›k 2002 Tarihinde Sona Eren Hesap Dönemine Ait Ba¤›ms›z Denetim Raporu
Turcas Petrol Anonim fiirketi'nin (fiirket) 31 Aral›k 2002 tarihi itibariyle düzenlenmifl bilançosunu ve bu tarihte sona eren
hesap dönemine ait gelir tablosunu incelemifl bulunuyoruz. ‹ncelememiz, genel kabul görmüfl denetim ilke, esas ve
standartlar›na göre yap›lm›fl ve dolay›s›yla hesap ve ifllemlerle ilgili olarak muhasebe kay›tlar›n›n kontrolü ile gerekli
gördü¤ümüz di¤er yöntem ve teknikleri içermifltir.
Görüflümüze göre, söz konusu mali tablolar, Turcas Petrol Anonim fiirketi'nin 31 Aral›k 2002 tarihindeki gerçek mali
durumunu, ve bu tarihte sona eren hesap dönemine ait gerçek faaliyet sonucunu, mevzuata ve bir önceki hesap dönemi
ile tutarl› bir flekilde uygulanan ve Sermaye Piyasas› Kurulu tebli¤lerinde belirlenen genel kabul görmüfl muhasebe ilkelerine
uygun olarak do¤ru bir biçimde yans›tmaktad›r.
fiirket’in mali durumu 2001 ve 2002 seneleri içinde Türkiye’de yaflanan ekonomik sorunlardan olumsuz yönde
etkilenmifltir. fiirket, 31 Aral›k 2002 tarihinde sona eren dönemi 12,233,307 milyon TL kar ve 89,826,832 milyon TL
geçmifl y›l zararlar› ile kapatm›flt›r. 31 Aral›k 2002 tarihi itibariyle, Özkaynaklar eksi 9,692,597 milyon TL tutar›ndad›r. fiirket
yönetimi Bilanço Dipnotu 33’te aç›kland›¤› gibi sabit k›ymetlerinin de¤erlemesini gerçeklefltirmifl ve Özkaynaklar› bu
de¤erleme sonucu 31 Aral›k 2002 tarihi itibariyle art› 40,632,769 milyon TL olmufltur.
‹stanbul,
28 fiubat 2003
Cevdet Suner Denetim ve
Yeminli Mali Müflavirlik A.fi.
Cevdet Suner
Sorumlu Ortak, Bafldenetçi
INDEPENDENT AUDITOR’S REPORT
We have examined the accompanying balance sheet of Turcas Petrol Anonim fiirketi (the Company) as of 31 December 2002,
and the related statement of income for the year then ended. Our examination was carried out in accordance with generally
accepted auditing principles, bases and standards and accordingly included, in connection with the accounts and transactions,
tests of the accounting records and other auditing procedures and techniques we considered necessary.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the
Company at 31 December 2002, and the result of its operations for the year then ended in accordance with the legislation
and generally accepted accounting principles promulgated by Capital Markets Board, consistently applied.
The financial condition of the Company was adversely affected by the economic difficulties experienced in Turkey during the
years 2001 and 2002. As of 31 December 2002, the Company had a net income of TL 12,233,307 million and prior year
losses of TL 89,826,832 million. As of 31 December 2002, the shareholders’ deficit amounted to TL 9,692,597 million. As also
discussed in Note 33 to Balance Sheet, the Company’s management has arranged for additional equity by means of appraisal
of its fixed assets and a positive equity amounting to TL 40,632,769 million has been achieved as of 31 December 2002 after
this appraisal.
‹stanbul,
28 February 2003
Cevdet Suner Denetim ve
Yeminli Mali Müflavirlik A.fi.
Cevdet Suner
Partner
The accompanying financial statements are not intended to present the financial position and results of operations in
accordance with accounting principles and practices generally accepted in countries and jurisdictions other than Turkey. The
standards, procedures and practices to review such financial statements are those generally accepted and applied in Turkey.
Turcas Petrol Anonim fiirketi
31 Aral›k 2002 ve 2001 Tarihleri ‹tibariyle Ayr›nt›l› Bilançolar / Detailed Balance Sheets as of December 31, 2002 and 2001
(Birim - Milyon Türk Liras›) / (Currency - Millions of Turkish Lira)
AKT‹F (VARLIKLAR) / ASSETS
I-
Not / Note
31.12.2002
DÖNEN VARLIKLAR / CURRENT ASSETS
77,483,798
A- Haz›r De¤erler / Cash and Banks
1- Kasa / Cash
2- Bankalar / Banks
3- Verilen Çekler ve Ödeme Emirleri / Checks and Payment Orders
4- Di¤er Haz›r De¤erler / Other Liquid Assets
22
4,271
4,805,149
3,118,224
11, 20 & 21
B- Menkul K›ymetler / Marketable Securities
1- Hisse Senetleri / Share Certificates
2- Özel Kesim Tahvil Senet ve Bonolar› / Private Sector Bonds
3- Kamu Kesim Tahvil Senet ve Bonolar› / Government Bonds and Treasury Bills
4- Di¤er Menkul K›ymetler / Other Marketable Securities
5- Menkul K›ymetler De¤er Düflüklü¤ü Karfl›l›¤› (-) / Allowances for Marketable Securities
1,539,746
-
19 & 30
C- K›sa Vadeli Ticari Alacaklar / Accounts Receivable
1- Al›c›lar / Trade Receivables
2- Alacak Senetleri / Notes Receivable
3- Verilen Depozito ve Teminatlar / Deposits and Guarantees Given
4- Di¤er K›sa Vadeli Ticari Alacaklar / Other Short-Term Accounts Receivables
5- Alacak Reeskontu (-) / Discount on Receivables (-)
6- fiüpheli Alacak Karfl›l›¤› (-) / Reserve for Doubtful Receivables (-)
17
10 & 30
3,972,665
54,305,693
962,123
(1,175,661)
25
(360,972)
D-Di¤er K›sa Vadeli Alacaklar / Other Short-Term Receivables
1- Ortaklardan Alacaklar / Receivables from Shareholders
2- ‹fltiraklerden Alacaklar / Receivables from Investees
3- Ba¤l› Ortakl›klardan Alacaklar / Receivables from Affiliated Companies
4- K›sa Vadeli Di¤er Alacaklar / Other Short-Term Receivables
5- fiüpheli Alacak Karfl›l›¤› (-) / Reserve for Doubtful Receivables
23
E- Stoklar / Inventories
1- ‹lk Madde ve Malzeme / Raw Material and Supplies
2- Yar› Mamüller / Semi-Finished Goods
3- Ara Mamül / Intermediate Goods
4- Mamüller / Finished Goods
5- Emtia / Trading Goods
6- Di¤er Stoklar / Other Inventories
7- Stok De¤er Düflüklü¤ü Karfl›l›¤› (-) / Allowance for Impairment Value of Inventories (-)
8- Verilen Siparifl Avanslar› / Advances Given
F- Di¤er Dönen Varl›klar / Other Current Assets
11 & 16
215,619
154,554
8,451,829
86,798
1,850
22
7,927,644
57,703,848
F- Di¤er Duran Varl›klar / Other Long-Term Assets
AKT‹F (VARLIKLAR) TOPLAMI / TOTAL ASSETS
‹liflikteki notlar bu mali tablolar›n ayr›lmaz bir parças›d›r.
The accompanying notes are an integral part of these balance sheets.
2,510,995
27,844,024
300
986,145
(601,199)
(385,278)
215,619
39,085
-
8,695,031
372,288
11,266,134
128,769
84,383
1,401,910
25
7,560
383,089
8,635
14,147
(183,867)
(427)
-
C- Finansal Duran Varl›klar / Investments
11, 20 & 26
1- Ba¤l› Menkul K›ymetler / Securities
2- Ba¤l› Menkul K›ymetler De¤er Düflüfl Karfl›l›¤› (-) / Allowance for Impairment in Value of Securities
3- ‹fltirakler / Investees
250
4- ‹fltiraklere Sermaye Taahhütleri (-) / Capital Commitments to Investees (-)
5- ‹fltiraklerde De¤er Düflüfl Karfl›l›¤› (-) / Allowance for Impairment in Value of Investees (-)
6- Ba¤l› Ortakl›klar / Affiliated Companies
2,154,802
7- Ba¤l› Ortakl›klara Sermaye Taahhütleri (-) / Capital Commitments to Affiliated Companies (-)
8- Ba¤l› Ortakl›klar De¤er Düflüfl Karfl›l›¤› (-) / Allowance for Impairment in Value of Aff. Companies (-) (55,346)
9- Di¤er Finansal Duran Varl›klar / Other Investments
-
E- Maddi Olmayan Duran Varl›klar / Intangible Assets
1- Kurulufl ve Teflkilatlanma Giderleri / Pre-Operating Expense
2- Haklar / Rights
3- Araflt›rma ve Gelifltirme Giderleri / Research and Development Expense
4- Di¤er Maddi Olmayan Duran Varl›klar / Other Intangible Assets
5- Birikmifl Amortismanlar / Accumulated Depreciation
6- Verilen Avanslar / Advances Given
-
27,097,795
-
30,354,987
39,085
11,851,574
1,973,737
57,538,838
B- Di¤er Uzun Vadeli Alacaklar / Other Long-Term Receivables
1- Ortaklardan Alacaklar / Receivables from Shareholders
2- ‹fltiraklerden Alacaklar / Receivables from Investees
3- Ba¤l› Ortakl›klardan Alacaklar / Receivables from Affiliated Companies
4- Uzun Vadeli Ticari Alacaklar / Other Long-Term Receivables
5- Alacak Reeskontu (-) / Discount on Notes Receivable (-)
6- fiüpheli Alacaklar Karfl›l›¤› (-) / Reserve for Doubtful Receivables (-)
D-Maddi Duran Varl›klar / Tangible Assets
1- Arazi ve Arsalar / Land
2- Yerüstü ve Yeralt› Düzenleri / Land Improvements
3- Binalar / Buildings
4- Makine, Tesis ve Cihazlar / Machinery, Installations and Equipment
5- Tafl›t Araç ve Gereçleri / Motor Vehicles
6- Döfleme ve Demirbafllar / Furnitures and Fixtures
7- Di¤er Maddi Duran Varl›klar / Other Tangible Assets
8- Birikmifl Amortismanlar / Accumulated Depreciation (-)
9- Yap›lmakta Olan Yat›r›mlar / Construction in Progress
10-Verilen Siparifl Avanslar› / Advances Given
71,317,178
4,307
22,789,407
4,304,081
1,539,746
II- DURAN VARLIKLAR / LONG-TERM ASSETS
A- Uzun Vadeli Ticari Alacaklar / Long-Term Accounts Receivable
1- Al›c›lar / Trade Receivables
2- Alacak Senetleri / Notes Receivable
3- Verilen Depozito ve Teminatlar / Deposits and Guarantees Given
4- Di¤er Uzun Vadeli Ticari Alacaklar / Other Long-Term Accounts Receivable
5- Alacak Reeskontu (-) / Discount on Notes Receivable (-)
6- fiüpheli Alacaklar Karfl›l›¤› (-) / Reserve for Doubtful Receivables (-)
31.12.2001
8, 11, 16, 22 & 29
34,884
1,588,525
8,796,104
9,248,767
1,444,998
706,631
59,953,455
(45,382,602)
176,246
289,228
2,379,163
11 & 22 45,349,886
(31,071,618)
-
229,137
691
837,018
9,933
14,147
(385,006)
(684)
-
-
2,099,706
250
2,154,802
(1,308,001)
-
36,856,236
34,884
1,423,427
5,528,524
6,518,791
10,600,099
467,304
37,276,097
(28,739,057)
145,718
289,228
16,657,431
2,244,591
45,349,886
(21,707,368)
-
11
22
61,537,260
1,696,328
476,099
-
847,051
33,545,015
25,887,109
781,986
135,022,636
132,854,438
Turcas Petrol Anonim fiirketi
31 Aral›k 2002 ve 2001 Tarihleri ‹tibariyle Ayr›nt›l› Bilançolar / Detailed Balance Sheets as of December 31, 2002 and 2001
(Birim - Milyon Türk Liras›) / (Currency - Millions of Turkish Lira)
PAS‹F (KAYNAKLAR) / LIABILITIES AND SHAREHOLDERS’ EQUITY
I-
Not / Note 31.12.2002
31.12.2001
KISA VADEL‹ BORÇLAR / SHORT-TERM LIABILITIES
73,965,489
A- Finansal Borçlar / Borrowings
1- Banka Kredileri / Bank Borrowings
2- Uzun Vadeli Kredi Anapara Taksit ve Faizleri
/ Installments and Interests of Long-Term Bank Borrowings
3- Tahvil Anapara Taksit ve Faizleri / Installments and Interest of Bonds
4- Ç›kar›lm›fl Bono ve Senetler / Issued Drafts and Bonds
5- Di¤er Finansal Borçlar / Other Borrowings
B- Ticari Borçlar / Accounts Payable
1- Sat›c›lar / Trade Payables
2- Borç Senetleri / Notes Payable
3- Al›nan Depozito ve Teminatlar / Deposits and Guarantees Received
4- Di¤er Ticari Borçlar / Other Accounts Payable
5- Borç Senetleri Reeskontu (-) / Discount on Notes Payable (-)
C- Di¤er K›sa Vadeli Borçlar / Other Short-Term Liabilities
1- Ortaklara Borçlar / Payables to Shareholders
2- ‹fltiraklere Borçlar / Payables to Investees
3- Ba¤l› Ortakl›klara Borçlar / Payables to Affiliated Companies
4- Ödenecek Giderler / Expenses Payable
5- Ödenecek Vergi Harç ve Di¤er Kesintiler / Taxes and Duties Payable
6- Ertelenen ve Taksite Ba¤lanan Devlet Alacaklar› / Deferred Payables to Government
7- K›sa Vadeli Di¤er Borçlar / Other Short-Term Liabilities
8- Borç Reeskontu (-) / Discount on Notes Payable (-)
30
19,543,236
30
33,279,922
-
10 & 30
17,539,256
1,382,099
-
10
10 & 30
22
22
228,963
465,724
424,028
-
52,823,158
18,921,355
492,325
609,936
F- Gelecek Aylara Ait Gelir ve Gider Tahakkuklar› / Accrual for Income and Expenses
D-Al›nan Siparifl Avanslar› / Advances from Customers
E- Borç ve Gider Karfl›l›klar› / Provision for Liabilities and Expenses
1- K›dem Tazminat› Karfl›l›klar› / Provision for Retirement Pay Liability
2- Di¤er Borç ve Gider Karfl›l›klar› / Provision for Other Liabilities and Expenses
30
F- Net Dönem Kar› / (Zarar›) / Net Profit for the Period
G- Dönem Zarar› / Loss for the Period
H- Geçmifl Y›llar Zararlar› / Prior Year Losses
1. 1999 Y›l› Zarar› / 1999 Losses
2. 2000 Y›l› Zarar› / 2000 Losses
3. 2001 Y›l› Zarar› / 2001 Losses
PAS‹F (KAYNAKLAR) TOPLAMI / TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY
‹liflikteki notlar bu mali tablolar›n ayr›lmaz bir parças›d›r.
The accompanying notes are an integral part of these balance sheets.
68,585,955
-
22
397,427
-
8
11
III- ÖZ SERMAYE / SHAREHOLDERS' EQUITY
2, 3, 4 & 5
A- Sermaye / Share Capital
B- Sermaye Taahhütleri (-) / Share Capital Commitment (-)
C- Emisyon Primi / Share Premium
D-Yeniden De¤erleme De¤er Art›fl› / Revaluation Surplus
1- Duran Varl›klardaki De¤er Art›fl› / Revaluation Surplus on Tangible Assets
8
27
2- ‹fltiraklerdeki De¤er Art›fl› / Revaluation Surplus on Investments
3- Borsadaki De¤er Art›fl› / Revaluation Increment on Shares Quoted on Stock Exchange
E- Yedekler / Reserves
1- Yasal Yedekler / Legal Reserves
2- Statü Yedekleri / Statutory Reserves
3- Özel Yedekler / Special Reserves
4- Ola¤anüstü Yedekler / Extraordinary Reserves
5- Maliyet Art›fl Fonu / Cost Increment Fund
6- Sermayeye Eklenecek ‹fltirak Hisseleri ve Gayrimenkul Sat›fl Kazanc›
/ Gain on Investment and Fixed Assets Sales that will be Added to Share Capital
147,234,503
14,513,800
4,986,128
350,046
548,071
548,071
70,749,744
B- Ticari Borçlar / Accounts Payable
1- Sat›c›lar / Trade Payables
2- Borç Senetleri / Notes Payable
3- Al›nan Depozito ve Teminat / Deposits and Guarantees Received
4- Di¤er Ticari Borçlar / Other Accounts Payable
5- Borç Reeskontu / Discount on Notes Payable (-)
C- Di¤er Uzun Vadeli Borçlar / Other Long-Term Liabilities
1- Ortaklara Borçlar / Payables to Shareholders
2- ‹fltiraklere Borçlar / Payables to Investees
3- Ba¤l› Ortakl›klara Borçlar / Payables to Affiliated Companies
4- Ertelenmifl Takside Ba¤l› Devlet Alacaklar› / Deferred Payables to Government
5- Uzun Vadeli Di¤er Borçlar / Other Long-Term Liabilities
6- Borç Reeskontu (-) / Discount on Notes Payable (-)
4,556,884
354,426
74,818
-
-
II- UZUN VADEL‹ BORÇLAR / LONG-TERM LIABILITIES
A- Finansal Borçlar / Borrowings
1- Banka Kredileri / Bank Borrowings
2- Ç›kar›lm›fl Tahviller / Issued Bonds
3- Ç›kar›lm›fl Di¤er Menkul K›ymetler / Other Issued Marketable Securities
4- Di¤er Finansal Borçlar / Other Borrowings
14,489,979
23,821
-
1,118,715
D-Al›nan Siparifl Avanslar› / Advances From Customers
609,936
147,234,503
-
E- Borç ve Gider Karfl›l›klar› / Provision for Liabilities and Expenses
1- Vergi Karfl›l›klar› / Provision for Taxes
2- Di¤er Borç ve Gider Karfl›l›klar› / Provision for Other Liabilities and Expenses
34
22
167,632,548
68,585,955
1,331,930
-
-
-
397,427
124,277
-
118,290
1,648,072
-
35,950,016
940,536
1,908,961
175,778
-
-
124,277
41,350
1,648,072
26,330,233
2,595,404
36,890,552
-
1,166,303
(9,692,597)
21,765,880
940,536
-
2,084,739
1,908,961
175,778
-
-
1,166,303
26,330,233
2,595,404
22,706,416
(36,110,040)
29
2,084,739
12,233,307
-
-
(75,964,623)
(1,530,643)
(12,331,566)
(75,964,623)
(1,530,643)
(12,331,566)
135,022,636
132,854,438
Turcas Petrol Anonim fiirketi
31 Aral›k 2002 ve 2001 Tarihleri ‹tibariyle Ayr›nt›l› Gelir Tablolar›
/ Detailed Statements of Operations for the years Ended December 31, 2002 and 2001
(Birim - Milyon Türk Liras›) / (Currency - Millions of Turkish Lira)
Not / Note
A-
BRÜT SATIfiLAR / GROSS SALES
1 - Yurtiçi Sat›fllar / Domestic Sales
2 - Yurtd›fl› Sat›fllar / Export Sales
3 - Di¤er Sat›fllar / Other Sales
B-
5
11
D-
SATIfiLARIN MAL‹YET‹ (-) / COST OF SALES (-)
5
FAAL‹YET G‹DERLER‹ (-) / OPERATING EXPENSES (-)
1 - Araflt›rma ve Gelifltirme Giderleri (-) / Research and Development Expenses
2 - Pazarlama, Sat›fl ve Da¤›t›m Giderleri (-)
/ Sales, Marketing and Distribution Expenses (-)
3 - Genel Yönetim Giderleri (-) / General and Administrative Expenses
1,2 & 6
1&2
D‹⁄ER FAAL‹YETLERDEN GEL‹RLER VE KARLAR / OTHER OPERATING INCOME
H-
I-
762,701,721
(1,104,125,314)
(715,101,274)
53,005,025
47,600,447
(42,571,163)
(32,533,056)
10,433,862
15,067,391
11,249,578
20,435,189
13,902
9,127
-
-
1,213,945
6,229,893
10,021,731
14,196,169
(2,799,704)
(3,053,038)
(20,842,580)
(106,727,866)
(11,691,984)
(49,949,129)
(9,150,596)
(56,778,737)
FAAL‹YET KARI / ZARARI / NET OPERATING INCOME OR LOSS
(1,958,844)
(74,278,324)
OLA⁄ANÜSTÜ GEL‹RLER VE KARLAR / EXTRAORDINARY INCOME
14,815,175
135,949
1 - Konusu Kalmayan Karfl›l›klar / Provisions Reversed
2 - Önceki Dönem Gelir ve Karlar› / Prior Period's Income
3 - Di¤er Ola¤anüstü Gelirler ve Karlar
/ Other Extraordinary Income
J-
1,157,130,339
(10,481,105)
(22,051,951)
3&4
1 - K›sa Vadeli Borçlanma Giderleri (-)
/ Short-Term Borrowings Interest Expense (-)
2 - Uzun Vadeli Borçlanma Giderleri (-)
/ Long-Term Borrowings Interest Expense (-)
(16,180)
(568,503)
(19,196,485)
(23,374,678)
D‹⁄ER FAAL‹YETLERDEN G‹DERLER VE ZARARLAR (-)
/ OTHER OPERATING EXPENSES (-)
F‹NANSMAN G‹DERLER‹ (-) / FINANCIAL EXPENSES (-)
(584,683)
-
6
1 - ‹fltiraklerden Temettü Gelirleri / Dividend Income from Investees
2 - Ba¤l› Ortakl›klardan Temettü Gelirleri
/ Dividend Income from Affiliated Companies
3 - Faiz ve Di¤er Temettü Gelirleri
Bilanço dipnotu 22.11
/ Balance Sheet Note 22.11
/ Interest and Other Dividend Income
4 - Faaliyetlerle ‹lgili Di¤er Gelirler ve Karlar
Bilanço dipnotu 22.10
/ Balance Sheet Note 22.10
/ Other Operating Income
G-
761,558,610
1,727,794
-
ESAS FAAL‹YET KARI / OPERATING INCOME
F-
763,286,404
(72,112)
(660,418)
BRÜT SATIfi KARI / GROSS MARGIN
E-
1,157,862,869
(732,530)
1 - Sat›fltan ‹adeler (-) / Sales Returns (-)
2 - Sat›fl ‹skontolar› (-) / Sales Discounts (-)
3 - Di¤er ‹ndirimler (-) / Other Discounts (-)
NET SATIfiLAR / NET SALES
31.12.2001
1,154,709,917
3,152,952
SATIfiLARDAN ‹ND‹R‹MLER (-) / SALES DEDUCTIONS (-)
C-
31.12.2002
13
Bilanço dipnotu 11 & 22.12
/ Balance Sheet Note 11& 22.12
1,308,364
38,127
100
13,468,684
135,849
OLA⁄ANÜSTÜ G‹DERLER VE ZARARLAR (-) / EXTRAORDINARY EXPENSES
1 - Çal›flmayan K›s›m Giderleri ve Zararlar› (-) / Idle Time Expenses
2 - Önceki Dönem Gider ve Zararlar› (-) / Prior Period's Expenses
3 - Di¤er Ola¤anüstü Giderler ve Zararlar (-) / Other Extraordinary Expenses
(623,024)
13
DÖNEM KARI VEYA ZARARI / PROFIT OR LOSS
K- ÖDENECEK VERG‹ VE D‹⁄ER YASAL YÜKÜMLÜLÜKLER
/ TAXES ON INCOME
NET DÖNEM KARI VEYA ZARARI / NET LOSS
‹liflikteki notlar bu mali tablolar›n ayr›lmaz bir parças›d›r.
The accompanying notes are an integral part of these statements.
Bilanço dipnotu 34
/ Balance Sheet Note 34
(611,355)
(11,669)
(1,822,248)
(1,384,789)
(437,459)
12,233,307
(75,964,623)
-
-
12,233,307
(75,964,623)
Turcas Petrol Anonim fiirketi
31 Aral›k 2002 ve 2001 Tarihleri ‹tibariyle Nakit Ak›m Tablolar›
/ Statements of Cash Flows for the Years Ended December 31, 2002 and 2001
(Birim - Milyon Türk Liras›) / (Currency - Millions of Turkish Lira)
31.12.2002
A- DÖNEM BAfiI NAK‹T MEVCUDU / CASH AT THE BEGINNING OF THE PERIOD
B- DÖNEM ‹Ç‹ NAK‹T G‹R‹fiLER‹ / CASH INFLOWS IN THE PERIOD
1- Sat›fllardan Elde Edilen Nakit / Cash flows from sales
a) Net Sat›fl Has›lat› / Net sales
b)Alacaklardaki (Sat›fl. Kaynakla.) Azal›fllar / Net decrease in receivables
c) Alacaklardaki (Sat›fl. Kaynakla.) Art›fllar (-)
/ Net increase in receivables (-)
2- Di¤er Faaliyetlerden Gelirler ve Karlardan
Dolay› Sa¤lanan Nakit / Cash flows from other operating income
3- Ola¤anüstü Gelir ve Karlardan Sa¤lanan Nakit
/ Cash flows from extraordinary income
4- K›sa Vadeli Borçlar. Art›fl (Al›m. ‹lgi. Olmayan)
/ Net increase in short-term liabilities
a) Di¤er Art›fllar / Other increases
5- Uzun Vadeli Borç. Art›fl (Al›m. ‹lgi. Olmayan)
/ Net increase in long-term liabilities
a) Menkul K›ymet ‹hraçlar›ndan / Issuance of securities
b)Di¤er Art›fllar / Other increases
6- Sermaye Art›r›m›ndan Sa¤lanan Nakit
/ Cash flows from increase in share capital
7- Emisyon Priminden Sa¤lanan Nakit
/ Cash flows from increase in share premium
8- Di¤er Nakit Giriflleri / Other cash flows
27,097,795
1,234,133,996
871,245,959
750,413,603
1,157,130,339
-
762,701,721
-
(27,075,233)
(12,288,118)
10,876,255
21,872,959
14,815,175
135,949
-
121,986,179
-
121,986,179
68,585,955
(45,684,271)
68,585,955
1- Maliyetlerden Kaynaklanan Nakit Ç›k›fl› / Cash flow due to cost of sales
a) Sat›fllar›n Maliyeti / Cost of sales
1,104,125,314
b) Stoklardaki Art›fl / Increase in inventory
c) Borçlardaki (Al›m. Kaynakla.) Azal›fl / Net decrease in liabilities
d) Borçlardaki (Al›m. Kaynakla.) Art›fl (-) / Net increase in liabilities (-)
(4,038,091)
e) Amortisman ve Karfl›l›klar Gibi Nakit Ç›k›fl› Gerektirmeyen
Giderler (-) / Noncash expenses ,i.e.; depreciation, provision
(17,230,917)
f) Stoklardaki Azal›fllar (-) / Decrease in inventory (-)
(3,156,543)
2- Faaliyet Giderlerinden Dolay› Nakit Ç›k›fl›
/ Cash flow due to operational expenses
a) Araflt›rma ve Gelifltirme Giderleri / Research and development expenses
b) Pazarlama, Sat›fl ve Da¤›t›m Giderleri
/ Marketing, selling and distribution expenses
19,196,485
c) Genel Yönetim Giderleri / General and administrative expenses
23,374,678
d) Nakit Ç›k›fl› Gerektirmeyen Giderler (-) / Noncash expenses (-)
(238,922)
3- Di¤er Faaliyet. Giderler ve Zararlardan
Dolay› Nakit Ç›k›fl› / Cash outflow from other operating expenses
a) Di¤er Faaliyet. ‹lgili Gider ve Zararlar / Other expenses
2,799,704
b) Nakit Ç›k›fl› Gerek. Giderler ve Zarar. (-) / Noncash expenses (-)
(2,360,814)
4- Finansman Giderlerinden Dolay› Nakit Ç›k›fl› / Cash flow from financing activities
5- Ola¤anüstü Gider ve Zararlardan Dolay› Nakit Ç›k›fl›
/ Cash flow from extraordinary expenses
a) Ola¤anüstü Gider ve Zararlar / Extraordinary expenses
623,024
b) Nakit Ç›k›fl› Gerektirmeyen Giderler ve Zararlar (-) / Noncash expenses (-)
6- Duran Varl›k Yat›r›m› Nedeniyle Nakit Ç›k›fl› / Cash flow used in investing activities
7- K›sa Vadeli Borçlar›n Anapara Ödemeleri
(Al›mlarla ‹lgili Olmayan) / Principal repayment of short-term borrowings
a) Al›nan Kredi Anapara Ödemeleri / Repayment of borrowings
94,411,345
b) Di¤er Ödemeler / Other payments
8- Uzun Vadeli Borç. Anapara Ödemeleri
(Al›mlarla ‹lgili Olmayan) / Principal repayment of long-term borrowings
a) Menkul K›ymet Anapara Ödemeleri / Repayment of Securities
b) Di¤er Ödemeler / Other payments
9- Ödenen Vergi ve Benzeri / Taxes and funds paid
10- Ödenen Temettüler / Dividends paid
11- Di¤er Nakit Ç›k›fllar› / Other cash outflows
E- NAK‹T ARTIfiI / (AZALIfiI) / NET INCREASE / (DECREASE) IN CASH
7,898,094
1,130,055,106
(45,684,271)
-
19,000,000
9,801,505
872,661
2,648,879
C- DÖNEM ‹Ç‹ NAK‹T ÇIKIfiLARI / CASH OUTFLOWS IN THE PERIOD
D- DÖNEM SONU NAK‹T MEVCUDU / CASH AT THE END OF THE PERIOD
31.12.2001
1,253,304,147
852,046,258
1,079,699,763
700,854,559
715,101,274
1,832,035
2,072,277
(18,151,027)
-
42,332,241
31,546,851
10,481,105
22,051,951
(986,205)
438,890
1,816
5,840,632
(5,838,816)
11,962,555
50,915,454
623,024
1,822,248
31
1,822,248
3,620,041
3,314,455
94,411,345
53,238,874
53,238,874
-
-
14,354,893
635
5,860,760
8,346,673
5,136
2,000,192
7,927,644
27,097,795
(19,170,151)
19,199,701
Turcas Petrol Anonim fiirketi
31 Aral›k 2002 ve 2001 Tarihleri ‹tibariyle Kaynak Kullan›m Tablolar› / Statements of Sources and Uses of Funds for the Years
Ended 31 December 2002 and 2001
(Birim - Milyon Türk Liras›) / (Currency - Millions of Turkish Lira)
31.12.2002
A- KAYNAKLAR / SOURCES OF FUNDS
1- Faaliyet Kar›ndan Sa¤lanan Kaynak / Sources from operating income
a) Faaliyet Kar› / Operating Income
b) Amortismanlar (+) / Depreciation (+)
c) Fon Ç›k›fl› Gerektirmeyen Di¤er Giderler (+) / Noncash expenses (+)
d) Fon Girifli Sa¤lamayan Gelirler (-) / Noncash income (-)
2- Ola¤anüstü Kardan Sa¤lanan Kaynak / Source from extraordinary income
a) Ola¤anüstü Kar / Extraordinary income
b) Fon Ç›k›fl› Gerektirmeyen Giderler (+) / Noncash expenses (+)
c) Fon Girifli Sa¤lamayan Gelirler (-) / Noncash income (-)
3- Dönen Varl›klar›n Tutar›nda Azal›fl / Decrease in current assets
4- Duran Varl›klar›n Tutar›nda Azal›fl / Decrease in long-term assets
5- K›sa Vadeli Borçlarda Art›fl / Increase in short-term liabilities
6- Uzun Vadeli Borçlarda Art›fl / Increase in long-term liabilities
7- Sermaye Art›r›m› (Nakit Karfl›lanan) / Capital increase-cash
8- Emisyon Primi / Share premium
142,359,913
-
-
-
15,999,752
135,949
14,815,175
1,184,577
-
135,949
14,641,094
68,585,955
-
B- KAYNAK KULLANIMLARI / USES OF FUNDS
1- Faaliyet Zarar›ndan Dolay› Kaynak Kullan›m› / Uses due to operating loss
a) Faaliyet Zarar› / Operating loss
b) Amortismanlar (-) / Depreciation (-)
c) Fon Ç›k›fl› Gerektirmeyen Di¤er Giderler (-) / Other noncash expenses (-)
d) Fon Girifli Sa¤lamayan Di¤er Gelirler (+) / Other noncash income (+)
2- Ola¤anüstü Zararlardan Dolay› Kaynak Kullan›m› / Extraordinary expense
a) Ola¤anüstü Zarar / Extraordinary expense
b) Fon Ç›k›fl› Gerektirmeyen Giderler (+) / Noncash expenses (+)
c) Fon Girifli Sa¤lamayan Gelirler (-) / Noncash income (-)
3- Ödenen Vergi ve Benzerleri / Taxes and duties paid
4- Ödenen Temettüler / Dividends paid
5- Dönen Varl›klar›n Tutar›nda Art›fl / Increase in current assets
6- Duran Varl›klar›n Tutar›nda Art›fl / Increase in long-term assets
(Yeniden De¤erleme Hariç) / (Excluding revaluation surplus)
7- K›sa Vadeli Borçlarda Azal›fl / Decrease in short-term liabilities
8- Uzun Vadeli Borçlarda Azal›fl / Decrease in long-term liabilities
9- Sermayede Azal›fl / Decrease in capital
31.12.2001
99,226,801
2,437,400
119,913,903
19,000,000
872,661
99,226,801
142,359,913
(15,647,295)
1,958,844
(16.109,904)
(2,804,599)
1,308,364
54,072,113
74,278,324
(15,604,427)
(5,861,608)
1,259,824
623,024
623,024
-
1,822,248
1,822,248
-
14,354,893
635
5,797,156
8,346,673
5,136
32,432,521
94,098,388
-
45,681,222
-
NET ‹fiLETME SERMAYES‹NDEK‹ DE⁄‹fi‹M / CHANGE IN NET WORKING CAPITAL
1- Net ‹flletme Sermayesindeki Art›fl / Increase in net working capital
2- Net ‹flletme Sermayesindeki Azal›fl / Decrease in net working capital
99,833,679
87,917,550
Turcas Petrol Anonim fiirketi
31 Aral›k 2002 ve 2001 Tarihleri ‹tibariyle Kar Da¤›t›m Tablolar› / Statements of Appropriation of Profit for the Years Ended
31 December 2002 and 2001
(Birim - Milyon Türk Liras›) / (Currency - Millions of Turkish Lira)
31.12.2002
31.12.2001
12,233,307
(75,964,623)
(89,826,832)
(13,862,209)
A- DÖNEM KARININ DA⁄ITIMI / APPROPRIATION OF PROFIT FOR THE YEAR
1- Dönem Kar› / (Zarar›) / Net Income / (Loss) for the Year
2- Geçmifl Y›llar Zararlar› / Prior Year Losses
3- Ödenecek Vergiler / Tax Provision
- Kurumlar Vergisi / Corporate Taxes
- Gelir Vergisi / Income Taxes
- Di¤er Vergi ve Benzerleri / Other Taxes
-
4- Birinci Tertip Yasal Yedek / First Legal Reserves
NET DA⁄ITILAB‹L‹R DÖNEM KARI/(ZARARI) / NET DISTRIBUTABLE INCOME / (LOSS)
5- Ortaklara Birinci Temettü / First Dividends to Shareholders
- Adi Hisse Senedi Sahiplerine / Common Shares
- ‹mtiyazl› Hisse Senedi Sahiplerine / Preferred Shares
-
-
-
(77,593,525)
(89,826,832)
-
-
6- Memur ve ‹flçilere Temettü / Bonus to Employees
-
-
7- Yönetim Kuruluna Temettü / Bonus to Board of Directors
-
-
8- Ortaklara ‹kinci Temettü / Second Dividends to Shareholders
- Adi Hisse Senedi Sahiplerine / Common Shares
- ‹mtiyazl› Hisse Senedi Sahiplerine / Preferred Shares
-
9- ‹kinci Tertip Yasal Yedek / Second Legal Reserves
-
-
-
10- Statü Yedekleri / Statutory Reserves
-
-
11- Özel Yedekler / Special Reserves
-
-
OLA⁄ANÜSTÜ YEDEKLER / EXTRAORDINARY RESERVES
B- YEDEKLERDEN DA⁄ITIM / APPROPRIATION FROM RESERVES
1- Ortaklara Pay / To Shareholders
- Adi Hisse Senedi Sahiplerine / Common Shareholders
- ‹mtiyazl› Hisse Senedi Sahiplerine / Preferred Shareholders
2- Memur ve ‹flçilere Pay / To Employees
3- Yönetim Kuruluna Pay / To Board of Directors
-
-
-
-
-
-
-
-
C- H‹SSE BAfiINA KAR (TL/%) / DISTRIBUTABLE INCOME PER SHARE
1- Adi Hisse Senedi Sahiplerine (TL/%) / Common Shareholders (TL/%)
2- ‹mtiyazl› Hisse Senedi Sahiplerine (TL/%) / Preferred Shareholders (TL/%)
D- H‹SSE BAfiINA KAR PAYI / DIVIDENDS PER SHARE
1- Adi Hisse Senedi Sahiplerine (TL/%) / Common Shareholders (TL/%)
2- ‹mtiyazl› Hisse Senedi Sahiplerine (TL/%) / Preferred Shareholders (TL/%)
33
Turcas Petrol Anonim fiirketi
Turcas Petrol Anonim fiirketi
31 Aral›k 2002 ve 2001 Tarihleri ‹tibariyle
Bilanço Dipnotlar›
Notes to the Balance Sheets as of December 31,
2002 and 2001
(Birim - Aksi belirtilmedikçe Milyon Türk Liras›)
(Currency - Millions of Turkish Lira unless otherwise stated)
1. ‹flletmenin fiili faaliyet konusu:
Her türlü petrol ve petrol ürünlerinin al›m› sat›m› ihrac› ve ithali ile da¤›t›m›d›r.
1. Activities:
Turcas Petrol A.fi. (the Company) is engaged in purchasing, selling, importing, exporting and
distributing all kinds of fuel products and lubricants.
2. Sermayenin %10 ve daha fazlas›na sahip ortaklar›n:
2. Shareholders with an ownership of interest 10% and above:
2002
Conoco Inc.
Baha Kaya Alp Baban
Erdal Aksoy
Pay
Oran›
%28.52
%13.85
%13.48
Pay
Tutar›
7,509,625
3,647,692
3,549,694
2001
Pay
Oran›
%28.52
%13.85
%13.48
Pay
Tutar›
7,509,625
3,647,692
3,549,694
31 Aral›k 2002 tarihi itibariyle fiirket’in sermayesi, ihraç edilmifl ve her biri bin TL nominal
de¤erde 26,330,233,183 (2001: bin TL nominal de¤erde 26,330,233,183) adet hisseden
meydana gelmifltir. fiirket sermayesi halka aç›k olup, %16.35’i (2001: %15.1) ‹stanbul Menkul
K›ymetler Borsas›’nda ifllem görmektedir.
fiirket ortaklar›ndan ve fiirket’in Yönetim Kurulu Baflkan vekili Baha Kaya Alp Baban 20 Ekim
2002 tarihinde vefat etmifl olup, rapor tarihi itibariyle Baha Kaya Alp Baban’a ait hisselerin
devirleri henüz gerçeklefltirilmemifltir. 12 Kas›m 2002 tarihli veraset davas›na istinaden 20
Kas›m 2002 tarihli ‹stanbul 6. Sulh Hukuk Mahkemesi’nin karar›na göre Baha Kaya Alp
Baban’a ait hisselerin %50’si efli Yasemin Baban’a, %25’i annesi Suna Baban’a ve di¤er %25’i
de kardefli Müeddet Hanzat Baban’a intikal edecektir.
3. Sermayeyi temsil eden hisse senetlerine tan›nan imtiyazlar (Hisse senetleri tertipleri ve
imtiyaz türleri itibariyle ayr› ayr›):
Yönetim Kurulu Üyelerinin en az 3 tanesi B grubu hisse sahiplerinin, en az 2 tanesi C grubu
hisse sahiplerinin gösterece¤i adaylar aras›ndan seçilir. Murak›plar›n biri C grubu hissedarlar›n›n
ço¤unlu¤unun belirledi¤i adaylar›n aras›ndan, di¤eri B grubu hissedarlar›n›n ço¤unlu¤unun
belirledi¤i adaylar aras›ndan seçilir.
4. Kay›tl› sermayeli ortakl›klarda kay›tl› sermaye tutar›:
fiirket kay›tl› sermaye sistemine tabi de¤ildir. Sermaye Piyasas› Kurulu ve T.C. Sanayi ve
Ticaret Bakanl›¤›’nca, fiirket esas sermaye sistemi içinde mütalaa edilmektedir.
5. Dönem içinde yap›lan sermaye art›r›mlar› ve kaynaklar›:
Yoktur.
6. Dönem içinde ihraç edilen hisse senedi d›fl›ndaki menkul k›ymetler:
Yoktur.
7. Dönem içinde itfa edilen borçlanmay› temsil eden menkul k›ymetler:
Yoktur.
8. Cari dönemde duran varl›k hareketleri:
31 Aral›k 2002 ve 2001 tarihlerinde sona eren dönemlerdeki duran varl›k hareketleri
afla¤›daki gibidir:
2002
2001
a) Sat›n al›nan, imal veya infla edilen maddi duran
varl›klar›n maliyeti
3,852,117
12,302,137
b) Sat›lan veya hurdaya ayr›lan
maddi duran varl›k maliyeti
9,998,500
359,547
c) Cari dönemde ortaya ç›kan
yeniden de¤erleme art›fllar›
14,184,136
8,878,266
- Varl›k maliyetlerinde (+)
26,235,621
15,592,949
- Birikmifl amortismanlarda (-)
11,990,170
6,597,195
- Sat›lan veya hurdaya ayr›lan maddi duran varl›k
yeniden de¤erlemeleri (-)
61,315
117,488
d) Yap›lmakta olan yat›r›mlar›n toplam tutar›, bafllang›ç ve bitifl tarihi ve tamamlanma
derecesi (31 Aral›k 2002 itibariyle):
2002
Toplam Bafllangݍ
Bitifl Tamamlanma
Niteli¤i
tutar
tarihi tarihi
Derecesi
Bodrum Akaryak›t A.fi. ‹stasyon ‹nflaat›
171,723
2002 2003
%95
Alia¤a Yang›n Sistemi Projesi
4,523
2001 2003
%5
2002
Conoco Inc.
Baha Kaya Alp Baban
Erdal Aksoy
2001
Amount
of the share
7,509,625
3,647,692
3,549,694
Percentage
of the share
28.52%
13.85%
13.48%
Amount
of the share
7,509,625
3,647,692
3,549,694
Share capital consists of 26,330,233,183 authorised and issued shares (2001: 26,330,233,183
shares of one thousand Turkish Liras each) of one thousand Turkish Liras each as of 31
December 2002. The Company’s shares are open to the public and 16.35% (2001: 15.1%) of
the shares are traded on the Istanbul Stock Exchange.
Company’s shareholder, Mr. Baha Kaya Alp Baban died on 20 October 2002. Transfer of the
shares owned by Baha Kaya Alp Baban has not been actualised as of the reporting date. In
accordance with the decision taken by ‹stanbul 6. Court of First Instance dated 20 November
2002, in relation to the inheritance court case dated 12 November 2002, 50% of his shares will
be transferred to his wife, Ms. Yasemin Baban, 25% of his shares will be
transferred to his mother, Ms Suna Baban and the remaining 25% shares will be transferred to
his sister, Ms. Müeddet Hanzat Baban.
3. Privileges for the share certificates that represent the capital (specifying the class of share
certificate and privilege):
The Board of Directors is established among at least 3 shareholders of Group B shares, and at
least 2 shareholders of Group C shares. One of the auditors is voted among the candidates
determined by the shareholders of Group C shares and the other is voted among the candidates
determined by the majority of the shareholders of Group B shares.
4. Registered share capital amount:
The Company is not subject to registered share capital system.
5. Capital increases made during the year and their sources:
None.
6. Securities issued during the year excluding the share certificates:
None.
7. Debt securities issued during the year:
None.
8. Movements of the tangible assets during the fiscal year:
The movements of the tangible assets as of and for the years ended 31 December 2002 and
2001 are as follows:
a) Cost of the tangible assets purchased,
manufactured or constructed:
b) Cost of the tangible assets sold or scrapped:
c) Revaluation increments occurring in the fiscal year:
- On cost of tangible assets (+):
- On accumulated depreciation (-):
- On tangible assets sold or scrapped (-):
2002
2001
3,852,217
9,998,500
14,184,136
26,235,621
11,990,170
61,315
12,302,137
359,547
8,878,266
15,592,949
6,597,195
117,488
d) Type of construction in progress, total amount, beginning and ending date, percentage of
completion (as of 31 December 2002):
2002
Total Starting
Due Percentage of
Type
Amount
Date Date
Completion
Bodrum Akaryak›t A.fi. Station Project
171,723
2002 2003
95%
Alia¤a Fire System Project
4,523
2001 2003
5%
Total
Toplam
Percentage
of the share
28.52%
13.85%
13.48%
176,246
176,246
17 A¤ustos 1995 tarihinde BP Petrolleri A.fi.’nin Ambarl›’daki dolum tesislerinin Turcas
Petrolcülük A.fi., Tabafl Petrolcülük A.fi. ve Selyak Petrol Ürünleri Üretim ve Pazarlama A.fi.
taraf›ndan ortaklafla kullan›lmas› için bu dört flirket aras›nda bir sözleflme yap›lm›flt›r.
On 17 August 1995, an agreement was signed between Turcas Petrolcülük A.fi., Tabafl
Petrolcülük A.fi., Selyak Petrol Ürünleri Üretim ve Pazarlama A.fi. and BP Petrolleri A.fi. in order to
use Filling Establishment of BP Petrolleri A.fi. in Ambarl› region jointly. According to this agreement,
each company has 1/4 share of the all land and of the assets related to this establishment.
Accordingly, Tabafl Petrolcülük A.fi. and Turcas Petrolcülük A.fi. have given an advance to BP
Bu sözleflmeye göre, her bir flirket bu tesislerin ve üzerine kurulu olan arazinin 1/4 oran›nda
hissesine sahiptir. Bu nedenle Turcas Petrolcülük A.fi. ve Tabafl Petrolcülük A.fi., BP
Petrolleri A.fi.’ne toplam 4,612,890 ABD Dolar› avans vermifllerdir. Fakat bu arazinin sahipli¤i
konusunda BP Petrolleri A.fi. ve üçüncü flah›slar (yaklafl›k 600 ortak) aras›nda ç›kan bir ihtilaf
dolay›s›yla, Turcas Petrolcülük A.fi. kendisine ait olan baflka bir arazinin di¤er flirketlerce, bu
ihtilaf çözülemedi¤i taktirde sat›n al›nmas› için BP Petrolleri A.fi. ve Selyak Petrol Ürünleri
Üretim ve Pazarlama A.fi.’nden toplam 1,000,000 ABD Dolar› avans alm›flt›r. ‹liflikteki Turcas
Petrol A.fi.’nin 31 Aral›k 2002 ve 2001 tarihli bilançolar›nda verilen avanslar Maddi Duran
Varl›klar içerisinde, al›nan avanslar ise Al›nan Uzun Vadeli Siparifl Avanslar› içerisinde tarihi
maliyetleri üzerinden netlefltirilmifl tutarlar› ile gösterilmektedir. Davan›n sonuçland›r›labilmesi
için 2001 y›l› içinde ortaklar aralar›nda 2003 y›l› A¤ustos ay›na kadar süreyi uzatan ek bir
mutabakat zapt› yapm›fllard›r. Biriken kur farklar› arsa sat›fl›n›n tescilini müteakip gelir
tablosuna yans›t›lacakt›r. 31 Aral›k 2002 tarihi itibariyle gizli rezerv olarak mütalaa
edebilece¤imiz toplam kur fark› geliri, net 5,642,101 TL’dir.
Petrolleri A.fi. amounting to USD 4,612,890. However, due to a dispute related to the ownership
of the land which the establishment was built on, between BP Petrolleri A.fi. and the third parties
(around 600 partners), Turcas Petrolcülük A.fi. has made an agreement with the other three
companies to sell its own land in Büyükçekmece region and obtained USD 1,000,000 from BP
Petrolleri A.fi. and Selyak Petrol Ürünleri Üretim ve Pazarlama A.fi. The amount of advances given
and advances received are presented under Tangible Assets and Accounts Payable accounts
netted from their historical costs, in the financial statements as of 31 December 2002 and 2001.
To finalise the dispute, shareholders made a side agreement in 2001 to extend the period till
August 2003. Accumulated foreign exchange losses will be booked to the income statement
subsequent to the finalisation of dispute and legal registration of sales of the land. Total foreign
exchange gain, which may be also called the hidden reserve, amounts to TL 5,642,101 as of 31
December 2002.
9. Cari ve gelecek dönemlerde yararlan›lacak yat›r›m indiriminin toplam tutar›:
Yoktur.
10. Due from and to shareholders, affiliated companies and other investees of the Company
are as follows:
10. ‹flletmenin ortaklar, ifltirakler ve ba¤l› ortakl›klarla olan alacak borç iliflkisi:
2002
2001
Alacaklar
Borçlar
Alacaklar
Borçlar
Ticari Ticari
Ticari
Ticari Ticari
Ticari
Ticari
Ticari
Olmayan
Olmayan
Olmayan
Olmayan
1) Ortaklar
24,434
- 228,963 16,069
- 4,556,884
2) Ba¤l› Ortakl›klar - 6,712,955
- 6,026,235
3) ‹fltirakler
73,066
50,436
-
Ortaklara olan ticari olmayan borç, Conoco Incorporation’a ödenecek olan 220,931 TL
(2001: 208,781 TL) tutar›ndaki hizmet giderlerinden ve 8,032 TL (2001: 8,573 TL)
tutar›ndaki temettü borcundan oluflmaktad›r (31 Aral›k 2001 tarihi itibariyle Ortaklara ticari
olmayan toplam 4,556,884 TL tutar›ndaki borcun 4,339,530 TL tutar›ndaki k›sm›, Conoco
Incorporation’dan kullan›lm›fl olan ve vadesi her y›l bir sonraki y›la uzat›lan 3,000,000 ABD
Dolar› tutar›ndaki k›sa vadeli kredidir).
Ba¤l› ortakl›klara olan 6,712,955 TL (2001: 6,026,235 TL) tutar›ndaki ticari borç fiirket’in
Marmara Petrol ve Rafineri ‹flleri A.fi.’den y›l içinde sat›n alm›fl oldu¤u petrol ürünlerinden
kaynaklanmaktad›r.
11. Stoklar ve di¤er bilanço kalemlerinde uygulanan de¤erleme, envanter ve amortisman
ay›rma yöntemleri; bunlarda ve di¤er muhasebe politikalar›nda önceki dönemlere göre
yap›lan de¤ifliklikler; bu de¤iflikliklerin parasal etkileri ve iflletmenin süreklili¤i ile
dönemsellik varsay›mlar›n› de¤ifltirecek muhtemel geliflmeler ve bunlar›n gerekçeleri:
11.1. Mali Tablolar›n Sunulufl fiekli:
Mali tablolar yürürlükteki ticari ve mali mevzuata ve Sermaye Piyasas› Kurulu'nun yay›mlad›¤›
genel kabul görmüfl muhasebe ilkelerine göre düzenlenmifltir.
11.2. Önemli Muhasebe ‹lkelerinin Özeti:
‹liflikteki mali tablolar›n haz›rlan›fl›nda takip edilen ana muhasebe ilkeleri afla¤›da belirtilmifltir:
11.2.1. Maddi Duran Varl›klar:
31 Aral›k 2002 ve 2001 tarihleri itibariyle arazi ve arsalar haricindeki bütün maddi duran
varl›klar elde etme maliyeti ve 3094 say›l› kanun uyar›nca yeniden de¤erleme art›fllar› ile
belirtilmifltir.
Sat›nalma maliyeti üzerinden amortismana tabi tutulan binalar, yerüstü ve yeralt› düzenleri
d›fl›nda amortisman, sabit k›ymetlerin yeniden de¤erlemeye tabi tutulmufl maliyet bedelleri
üzerinden Türk Vergi Kanunlar›’n›n tesbit etti¤i oranlar dahilinde, normal amortisman
yöntemi kullan›larak ayr›lmaktad›r.
Afla¤›da belirtilen bu oranlar ilgili aktiflerin tahmini faydalanma sürelerine dayal› oranlara
yak›nd›r.
Amortisman Oran›
Yerüstü ve Yeralt› Düzenleri
%10-40
Binalar
%2-4
Makina, Tesis ve Cihazlar
%5-40
Tafl›t Araç ve Gereçleri
%20-40
Döfleme ve Demirbafllar
%10-40
Di¤er Maddi Duran Varl›klar
%10-40
31 Aral›k 2002 tarihi itibariyle, maddi duran varl›klar 166,219,946 TL’ye (2001: 118,317,468
TL) sigorta ettirilmifltir.
9. Total amount of investment incentives to be utilised in the current and following years:
None.
2002
2001
Receivables
Payables
Receivables
Payables
Trade Non
Trade
Non Trade Non
Trade
Non
Trade
Trade
Trade
Trade
1) Shareholders
24,434
- 228,963 16,069
- 4,556,884
2) Affiliated Companies - 6,712,955
- 6,026,235
3) Investees
73,066
50,436
-
The non-trade payable to shareholders is composed of services payable to Conoco Incorporation
amounting TL 220,931 (2001: TL 208,781) and the dividend payable to shareholders
amounting TL 8,032 (2001: TL 8,573) (As of 31 December 2001, TL 4,339,530 portion of the
total TL 4,556,884 non-trade payables to the shareholders represents short-term loans obtained
from Conoco Incorporation amounting to USD 3,000,000 whose maturity date is transferable to
the next year).
Payables to affiliated companies amounting to TL 6,712,955 (2001: TL 6,026,235) represent
the payable to Marmara Petrol ve Rafineri ‹flleri A.fi. for the fuel products purchased.
11. Methods applied for valuation, costing and depreciation related to inventories and other
balance sheet items; the changes made on these methods and other accounting policies when
compared to prior years; monetary effects of these changes and main factors that can affect
going concern assumptions and consistency, and the reasons for these:
11.1. The Presentation of Financial Statements:
The Company maintains its books of account and prepares its statutory financial statements in
accordance with Turkish commercial practice and tax legislation and the generally accepted
accounting principles of Capital Markets Board.
The differences between accounting principles promulgated by the Capital Markets Board of
Turkey, accounting principles generally accepted in countries in which the accompanying financial
statements are to be distributed and International Accounting Standards (“IAS”) have significant
influence on the accompanying financial statements. Accordingly, the accompanying financial
statements are not intended to present the financial position and results of operations in
accordance with the accounting principles generally accepted in such countries and IAS.
11.2. Summary of Significant Accounting Principles:
The accompanying financial statements have been prepared in accordance with the following
accounting principles:
11.2.1. Tangible Assets:
As of 31 December 2002 and 2001, except for land, tangible assets are stated at cost plus
revaluation increment in accordance with the Revaluation Law No: 3094.
Except for buildings and land improvements, fixed assets are depreciated over their historical
costs; depreciation is provided on revalued amounts in accordance with Turkish Tax Legislation,
using straight-line method of depreciation.
The depreciation rates approximate those based on the estimated useful lives of the related
assets as follows:
Land Improvements
Buildings
Machinery and Equipment
Vehicles
Furniture and Fixtures
Other Tangible Assets
Depreciation Rates
10-40%
2-4%
5-40%
20-40%
10-40%
10-40%
As of 31 December 2002, the tangible assets are insured to the extent of TL 166,219,946
(2001: TL 118,317,468).
35
11.2.2. Maddi Olmayan Duran Varl›klar:
Maddi olmayan duran varl›klar marka kullanma haklar›n› ve Tabafl Petrolcülük A.fi. ile Turcas
Petrolcülük A.fi.’nin birleflmesinden ortaya ç›kan ve pefltemall›k olarak nitelendirilen devir
denklefltirme hesab›n› içermekte olup, haklar 5-15 y›l, devir denklefltirme hesab› ise k›st
metoduyla 5 y›l içinde itfa edilmektedir.
11.2.3. Stoklar:
Stoklar a¤›rl›kl› ortalama maliyet yöntemi kullan›larak de¤erlendirilmektedir. Piyasa de¤eri
maliyet bedelinden düflük olursa stoklar›n de¤eri düflük olan piyasa de¤erine indirilir.
Maliyetler, stoklar› mevcut duruma getirmek için yap›lan bütün direk masraflar› içermektedir.
31 Aral›k 2002 tarihi itibariyle, stoklar 11,168,211 TL’na (2001: 9,836,268 TL) sigorta
ettirilmifltir.
11.2.4. Menkul K›ymetler ve Finansal Duran Varl›klar:
Menkul k›ymetler, tekrar geri alma (repo) taahhütü ile sat›n al›nm›fl devlet tahvilleri ve hazine
bonolar› ile hazine bonosundan oluflmaktad›r. Söz konusu menkul k›ymetler, iliflikteki mali
tablolarda maliyet bedelleriyle gösterilmekte ve ilgili anlaflmalar uyar›nca elde edilecek faiz
gelirleri, al›m tarihleri ile repo hazine bonosu vadeleri aras›ndaki sürede tahakkuk ettirilmektedir. Finansal duran varl›klar maliyet bedelleri ile kaydedilmektedir. Bedelsiz al›nan hisse
senetleri nominal bedelleri üzerinden kaydedilirler.
11.2.5. Ticari Alacak ve Borçlar›n De¤erlenmesi:
Alacaklar ve borçlar bilançoda kay›tl› de¤erleri ile gösterilir. Ancak, avans, depozito ve
teminat niteli¤inde olanlar hariç olmak üzere, senetli alacak ve borçlar (vadeli çekler ve
poliçeler dahil) ile 3 aydan daha uzun vadeli senetsiz alacak ve borçlar reeskont ifllemine tabi
tutulmaktad›r. Reeskont iflleminde, sözkonusu alacak ve borçlar için öngörülen faiz oran›; bu
yoksa Türkiye Cumhuriyeti Merkez Bankas›'n›n iskonto oran› uygulan›r. Alacaklara iliflkin
olarak ayr›lan reeskont tutarlar›, gelir tablosunda "Di¤er Faaliyetlerden Giderler ve Zararlar",
borçlara iliflkin reeskont tutarlar› ise, "Di¤er Faaliyetlerden Gelirler ve Karlar" hesap
gruplar›nda muhasebelefltirilir.
11.2.2. Intangible Assets:
Intangible assets comprise trade names, rights, and merger equalisation account, which resulted
from the merger of Tabafl Petrolcülük A.fi. and Turcas Petrolcülük A.fi. The rights are amortized in
5 to 15 years and the merger-equalisation account is amortized in 5 years.
11.2.3. Inventories:
Valuation of inventories is made on the average cost basis. Inventories are stated at the lower of
cost and net realisable value. Costs include all costs incurred in bringing inventories to their
current state.
As of 31 December 2002, inventories are insured to the extent of TL 11,168,211 (2001: TL
9,836,268).
11.2.4. Marketable Securities and Investments:
Marketable securities comprised of government bonds and treasury bills have been purchased
under the repurchasing agreement and treasury bills. These marketable securities are stated at
cost value in the financial statements. The interest income accruals computed at period ends are
reflected in marketable securities.
Investments are reported at cost. Bonus shares received are recorded at their nominal amounts.
11.2.5. Valuation of Trade Receivables and Payables:
Trade receivables and payables are presented on their recorded amount in the balance sheet.
But except for the advance, deposit and guarantee type receivables and payables, all the notes
receivables and payables (including cheques and policies having a fixed term) and receivable
and payables whose maturity dates are more than three months are discounted. In discount
computation if there are no anticipated interest rates for the receivables and payables, then
Turkish Central Bank discount rate is applied.
Discount on receivables and payables are presented under “Other Operating Expense” and
“Other operating Income”, respectively.
11.2.6. Yabanc› Para Birimi Kalemleri:
Dönem içerisinde yabanc› para birimi baz›ndaki ifllemler, ifllem tarihinde geçerli olan döviz
kurlar›ndan TL’ye çevrilmifltir. Bilançoda yer alan yabanc› para birimi baz›ndaki varl›klar
bilanço tarihindeki TCMB döviz al›fl kurlar›; kaynaklar ise bilanço tarihindeki TCMB döviz
sat›fl kurlar› kullan›larak TL’ye çevrilmifltir. Bu ifllemler sonucunda oluflan kur farklar› dönem
kar›n›n belirlenmesinde hesaba al›nm›flt›r.
11.2.6. Foreign Currency Items:
Transactions denominated in foreign currencies are translated at exchange rates prevailing at
the dates of transactions. Balance sheet items denominated in foreign currencies are translated
at the exchange rates of the Turkish Central Bank, prevailing at the balance sheet dates. Foreign
currency transaction gains or losses arising on settlement and translation of foreign currency
items are included in the related income or expense amounts as appropriate for the year.
11.2.7. Gelir Tahakkuku:
Gelirler mallar›n sevk edildi¤i tarihte oluflmaktad›r.
11.2.7. Revenue Recognition:
Revenues are recognised at the time of the shipment of goods. Revenues and expenses are
recorded on an accrual basis.
Gelir ve giderler tahakkuk esas›na göre kar-zarara intikal ettirilmektedir.
11.2.8. K›dem Tazminat›:
Yürürlükteki kanunlara göre fiirket, emeklilik dolay›s›yla veya istifa ve ifl kanununda belirtilen
davran›fllar d›fl›ndaki sebeplerle istihdam› sona eren çal›flanlara belirli bir toplu ödeme
yapmakla yükümlüdür. Bu yükümlülük, emeklilik veya iflten ayr›l›fl tarihinde geçerli olan
toplam ücret üzerinden her istihdam y›l› için 30 günlük ücret ve di¤er haklar olarak
hesaplan›r. K›dem tazminat› tavan› 31 Aral›k 2002 tarihi itibariyle 1,260.1 TL’dir. 1 Ocak
2003’den sonra k›dem tazminat› tavan› 1,323.9 TL olmufltur.
11.2.9. Di¤er Ola¤anüstü Gelirler ve Karlar:
Di¤er Ola¤anüstü Gelirler ve Karlar, dönem faaliyetleri ile ilgili olmayan ve ar›zi bir karakter
tafl›yan gelir ve karlar›n yer ald›¤› hesap kalemidir.
12. Tebli¤in 1 nolu ekinde belirtilen bilanço tarihinden sonra ortaya ç›kan ve aç›klamay›
gerektiren hususlara iliflkin bilgi:
Yoktur.
11.2.8. Provision for Retirement Pay Liability:
In accordance with the existing social legislation in Turkey, the Company is required to make
certain lump-sum payments to employees whose employment is terminated due to retirement or
for reasons other than resignation and misconduct. Such payments are calculated on the basis of
30 days’ pay per year of employment at the rate of pay applicable at the date of retirement or
termination. The retirement pay provision ceiling was TL 1,260.1 as of 31 December 2002 and
has been increased to TL 1,323.9 from 1 January 2003 onward.
11.2.9. Other Extraordinary Income:
Other Extraordinary Income comprises income and profit not related to the Company’s ordinary
operations.
12. Disclosure about subsequent events following the balance sheet date, in accordance with
paragraph number 1 of the decree:
None.
13. Tebli¤in 2 nolu ekinde belirtilen flarta ba¤l› zararlar ile her türlü flarta ba¤l› kazançlara
iliflkin bilgi (iflletmeyi borç alt›na sokacak ve dönem sonucunu etkileyebilecek hukuki
ihtilaflar›n mahiyetleri bu bölümde aç›klan›r):
fiirket, Ankara’daki bir benzin istasyonunun patlamas› sonucu daval› durumundad›r. fiirket’in
olas› yükümlülü¤ü 742,038 TL’dir. fiirket, mahkemenin gerekçeli karar›nda belirtildi¤i üzere
4/8 oran›nda kusurlu bulunmufl ve finansal tablolar›nda 371,014 TL karfl›l›k ay›rm›flt›r.
13. Disclosure about contingent losses and gains as described in paragraph number 2 of the
decree (the nature of the legal disputes that could cause additional liability to the entity and
that can affect the result of the period are to be disclosed in this section):
The Company is defendant in a lawsuit involving an explosion in a station. The maximum liability
of the Company is TL 742,038. The Company has made a provision amounting to TL 371,014
in the accompanying financial statements, based on the court decision of the fault factor at 4/8
(provision for compensation).
14. ‹flletmenin gayri safi kar oranlar› üzerinde önemli ölçüde etkide bulunan muhasebe
tahminlerinde de¤iflikliklere iliflkin bilgi ve bunlar›n parasal etkileri:
Yoktur.
14. Disclosure about the changes related with accounting estimations that have an important
effect on the profitability ratios of the entity and the monetary effects of these:
None.
15. Aktif de¤erler üzerinde mevcut bulunan toplam ipotek veya teminat tutarlar›:
fiirket’in Barclays Bank Plc’den kullanm›fl oldu¤u krediye kefil olan T. Vak›flar Bankas› A.O.’ya
ek teminat teflkil etmek üzere, ba¤l› ortakl›¤› Marmara Petrol ve Rafineri ‹flleri A.fi. hisseleri
T. Vak›flar Bankas› A.O.’ya rehin sözleflmesi ile rehnedilmifltir. Ayr›ca Marmara Petrol ve
Rafineri ‹flleri A.fi.’ye ait Kocaeli ili Körfez ilçesinde bulunan akaryak›t dolum tesisi 15,000,000
TL bedelle ayn› bankaya ipotek edilmifltir.
15. Total amount of mortgage or guarantees given on assets:
Turcas’s affiliated company Marmara Petrol ve Rafineri ‹flleri A.fi. shares are pledged to T.
Vak›flar Bankas› A.O. with a pledge agreement against the surety given by T. Vak›flar Bankas›
A.O. for the Company’s borrowing obtained from Barclays Bank Plc. Additionally, fuel filling
establishment of Marmara Petrol ve Rafineri ‹flleri A.fi. located in Körfez district of Kocaeli is
mortgaged to T. Vak›flar Bankas› A.O. by an amount of TL 15,000,000.
fiirket, ba¤l› ortakl›¤› olan Marmara Petrol ve Rafineri ‹flleri A.fi.’nin HSBC Bank’dan kullanm›fl
oldu¤u 4,500,000 ABD Dolar› kredi için sözkonusu bankaya 4,950,000 ABD Dolar› karfl›l›¤›
müflteri çeklerini teminat olarak vermifltir.
The Company has given Turcas Petrol A.fi. customer cheques amounting to USD 4,950,000 to
HSBC Bank for the loan obtained from HSBC Bank by its affiliated company, Marmara Petrol ve
Rafineri ‹flleri A.fi. amounting to USD 4,500,000.
Ayr›ca fiirket, Alternatif Bank A.fi.’den kulland›¤› 2,000,000 ABD Dolar› krediye karfl›l›k
sözkonusu bankaya, ayn› miktardaki Turcas Petrol A.fi. müflteri çeklerini teminat olarak
vermifltir.
Besides, the Company has given Turcas Petrol A.fi. customer cheques amounting to USD
2,000,000, equivalent of the loan received from Alternatif Bank A.fi. to the same bank as
guarantee.
16. Aktif de¤erlerin toplam sigorta tutar›:
31 Aral›k 2002 tarihi itibariyle, aktif de¤erlerin toplam sigorta tutar› 177,388,157 TL’dir
(2001: 130,589,652 TL).
16. Total amount of insurance on assets:
Total insurance amount on assets as of 31 December 2002 is TL 177,388,157 (2001: TL
130,589,652).
17. Alacaklar için al›nm›fl olan ipotek ve di¤er teminatlar›n toplam tutar›:
31 Aral›k 2002 tarihi itibariyle alacaklar için 38,325,053 TL, 351,750 ABD Dolar› ve 3,200
EURO tutar›nda teminat mevcuttur (ipotek, banka teminat mektubu ve di¤er teminatlar)
(2001: 23,904,758 TL).
17. Total amount of mortgage and other guarantees obtained for receivables:
There are guarantees at the amount of TL 38,325,053, USD 351,750 and 3,200 EURO for
receivables (including mortgage, bank letter of guarantees and other) as of 31 December 2002
(2001: TL 23,904,758).
18. Pasifte yer almayan taahhütlerin toplam tutar›:
a) 31 Aral›k 2002 tarihi itibariyle verilen teminat mektuplar›n›n toplam tutar› 20,519,864 TL
(2001: 14,083,903 TL) olup bu tutar›n önemli bir k›sm› Türkiye Petrol Rafinerileri A.fi.’ye
verilmifltir. Bunun d›fl›nda çeflitli Türk bankalar›ndan al›nm›fl olan 27,000,000 ABD Dolar› ve
ana ortak Conoco Incorporation’dan al›nm›fl bulunan 37,500,000 ABD Dolar› tutar›nda
olmak üzere toplam 64,500,000 ABD Dolar› (2001: 80,750,000 ABD Dolar›) tutar›ndaki
teminat mektuplar›n›n 23,500,000 ABD Dolarl›k k›sm› Barclays Bank’a ve 3,500,000 ABD
Dolar’l›k k›sm› ise Sabanc› Bank’a söz konusu bankalardan kullan›lan kredilere teminat teflkil
etmek üzere verilmifltir.
18. Total amount of the obligations that are not presented in the balance sheet:
a) As of 31 December 2002, the total amount of the letters of guarantee given is TL
20,519,864 (2001: TL 14,083,903), and a significant portion of this amount is given to Türkiye
Petrol Rafinerileri A.fi. Additionally, the Company has letters of guarantees amounting to USD
64,500,000 (2001: USD 80,750,000). USD 27,000,000 portion of these letters of guarantees
is taken from several Turkish Banks and USD 37,500,000 portion is taken from the main
shareholder, Conoco Incorporation. The Company has given the USD 23,500,000 portion of the
letters of guarantees to Barclays Bank and USD 3,500,000 to Sabanc› Bank as a guarantee for
the credits that the Company uses from these banks.
b) Yukar›da belirtilen banka teminat mektuplar›na iliflkin olarak; 31 Aral›k 2002 tarihi
itibariyle, T. Vak›flar Bankas› A.O.’ya 6,596,000 TL (2001: 1,836,000 TL), Koçbank A.fi.’ye
701,000 TL (2001: 701,000 TL) ve Halk Bankas› A.fi. lehine 810,000 TL (2001: 859,000 TL)
nominal tutar›nda olmak üzere fiirket’in büyük hissedarlar› ellerinde
bulundurduklar› fiirket hisselerini banka lehine rehin vermifllerdir.
b) In connection with the above-mentioned bank letters of guarantee, the Company’s main
shareholders gave their own shares of the Company as a pledge, nominal amounting to TL
6,596,000 (2001: TL 1,836,000) on behalf of T. Vak›flar Bankas› A.O., TL 701,000 (2001: TL
701,000) on behalf of Koçbank A.fi., TL 810,000 (2001: TL 859,000) on behalf of Halk
Bankas› A.fi.
c) fiirket, ba¤l› ortakl›¤› olan Marmara Petrol ve Rafineri ‹flleri A.fi.’nin HSBC Bank’dan
kullanm›fl oldu¤u 4,500,000 ABD Dolar› (2001: 5,000,000 ABD Dolar›) kredi için sözkonusu
bankaya 4,950,000 ABD Dolar› karfl›l›¤› müflteri çeklerini teminat olarak vermifltir (2001:
2,500,000 ABD Dolar› tutar›nda kefalet vermifltir). Ayr›ca, fiirket’in büyük hissedarlar›ndan
Erdal Aksoy ve merhum Baha Kaya Alp Baban sözkonusu kredi için 10,000,000 ABD Dolar›
tutar›nda flahsi kefalet vermifllerdir.
c) The Company has given Turcas Petrol A.fi. customer cheques amounting to USD 4,950,000
(2001: USD 2,500,000) to HSBC Bank for the loan obtained from HSBC Bank by its affiliated
company, Marmara Petrol ve Rafineri ‹flleri A.fi. amounting to USD 4,500,000 (2001: USD
5,000,000). Additionally, the Company’s main shareholders, Erdal Aksoy and Baha Kaya Alp
Baban (deceased) gave their own guarantees amounting to USD 10,000,000.
d) fiirket, Barclays Bank Plc’den kullanm›fl oldu¤u k›sa vadeli 20,040,000 ABD Dolar› ve orta
ve uzun vadeli 41,760,000 ABD Dolar› toplam 61,800,000 ABD Dolar› tutar›ndaki kredi ile
ilgili olarak, 2003 y›l›nda 1,112,400 ABD Dolar› kredi faizi ödeyecektir uzun vadede ise
1,503,360 ABD Dolar› faiz ödeyecektir. Ayr›ca, 2003 y›l›nda 657,500 ABD Dolar›, uzun
vadede ise 513,400 ABD Dolar› teminat mektubu, aval komisyonu ve kefalet komisyonu
ödenecektir.
e) Sabanc› Bank’tan Ekim 2001 tarihinde kullan›lan ve vadesi Kas›m 2002 olan 5,000,000
ABD Dolar› tutar›ndaki kredinin 1,500,000 ABD Dolar› anapara ödemesi yap›lm›fl ve geri
kalan 3,500,000 ABD Dolar› vadesi Kas›m 2003’e uzat›lan kredi için fiirket, k›sa vadede
141,031 ABD Dolar› kredi faizi ve 76,233 ABD Dolar› tutar›nda kefalet komisyonu
ödeyecektir.
f) fiirket, 2002 y›l›nda T. Vak›flar Bankas› A.O.’dan 1,500,000 ABD Dolar›, Tekstilbank
A.fi.’den 2,000,000 ABD Dolar› ve Alternatif Bank A.fi.’den 2,000,000 ABD Dolar›, toplam
5,500,000 ABD Dolar› tutar›ndaki kullanm›fl oldu¤u k›sa vadeli krediler için, 2003 y›l›nda
135,625 ABD Dolar› kredi faizi ödeyecektir. Ayr›ca fiirket, Alternatif Bank A.fi.’den kulland›¤›
krediye karfl›l›k sözkonusu bankaya, ayn› miktardaki Turcas Petrol A.fi. müflteri çeklerini
teminat olarak vermifltir.
g) fiirket’in 31 Aral›k 2002 tarihi itibariyle finansal kiralama taahhütlerinin tutar› 1,301 ABD
Dolar›, ve 1 TL’dir (2001: 2,702 ABD Dolar›, ve 2 TL).
d) The Company has obtained loans amounting USD 61,800,000 from Barclays Bank Plc
composed of short-term loan amounting to USD 20,040,000 and medium and long-term loans
amounting to USD 41,760,000. In 2003, the Company is going to make an interest payment of
USD 1,112,400 in the short-term and an interest amounting to USD 1,503,360 in the long
term. In addition, in 2003, the Company will pay USD 657,500 and USD 513,400 in the long
term as the letter of guarantee and surety commissions.
e) The Company has paid the principal amount of USD 1,500,000 for the USD 5,000,000 loan
received from Sabanc› Bank in October 2001 with the maturity of November 2002. The
maturity for the outstanding loan has been extended to November 2003, and for the remaining
USD 3,500,000, the Company is going to make the interest payment of USD 141,031 and
surety commission of USD 76,233 in the short-term.
f) In 2003, the Company is going to make an interest payment of USD 135,625 for the
short-term loans obtained from T. Vak›flar Bankas› A.O., Tekstilbank A.fi. and Aternatifbank A.fi.
amounting USD 1,500,000, USD 2,000,000 and USD 2,000,000, respectively. Besides, the
Company has given Turcas Petrol A.fi. customer cheques at the equivalent of the loan received
from Alternatif Bank A.fi. to the same bank as guarantee.
g) As of 31 December 2002, the amount of financial lease contract is USD 1,301 and TL 1
(2001: USD 2,702 and TL 2).
37
h) fiirket, Tüprafl Petrol Rafineri ‹flleri A.fi. ile yapt›¤› sözleflme gere¤i, ald›¤› ürün miktar›
almay› taahhüt etti¤i miktardan negatif farkl› olursa afla¤›daki belirtilen oranlarda ödeme
yapmay› taahhüt etmifltir;
(Ton/ABD $)
(Ton/ABD $)
Fark
Beyaz Ürün
Siyah Ürün
%5-10
4
3
%15
8
6
%25
12
9
%25.01 ve üzeri
16
12
fiirket dönem içinde Tüprafl Petrol Rafineri ‹flleri A.fi.’ne vermifl oldu¤u taahhüdün bir k›sm›n›
gerçeklefltirememifl ve bunun karfl›l›¤› olarak 9,727 TL cezai ödeme yapm›flt›r. 31 Aral›k
2002 tarihi itibariyle yukar›da belirtilen konuya istinaden fiirket’in herhangi bir yükümlülü¤ü
yoktur.
i) Türkpetrol Vakf› ile 17 Haziran 2006 y›l›nda dolacak olan lisans hakk› anlaflmas›, 29
A¤ustos 2000 tarihinde imzalanan ek protokolle ayn› flartlarla 17 Haziran 2012 tarihine
kadar uzat›lm›flt›r. Bununla ilgili fiirket, Türkpetrol Vakf›’na ek protokol tarihinde 600,000
ABD Dolar› ödemifl ve ayr›ca sataca¤› beyaz ürünlerde ton bafl›na 17 Haziran 2006 tarihine
kadar 0.30 ABD Dolar›, 17 Haziran 2006-17 Haziran 2012 tarihleri aras›nda ise 0.35 ABD
Dolar› lisans bedeli ödemeyi taahhüt etmifltir.
j) fiirket, afla¤›da belirtilen dönemlerde istasyon sahiplerine istasyon yenileme çal›flmalar›nda
kullan›lmak üzere 5,913,500 ABD Dolar› ödemeyi taahhüt etmifltir:
h) According to an agreement made with Tüprafl Petrol Rafineri ‹flleri A.fi., the Company has to
purchase the quantities committed. Otherwise, based on the negative difference, the Company
should pay the following amounts as penalties;
(USD/ Tonnes)
White Products
4
8
12
16
Difference
5-10%
15%
25%
25.01% and over
(USD/ Tonnes)
Black Products
3
6
9
12
During 2002, the Company could not realise some amount of its commitments to Tüprafl Petrol
Rafineri ‹flleri A.fi. and has paid TL 9,727 penalty for the unrealised amount. As of 31 December
2002, the Company does not have any obligations related with the above-mentioned penalty.
i) According to the side-agreement signed with Türkpetrol Vakf› on 29 August 2000, the “Right
of Licence”, which would expire on 17 June 2006, has been extended with the existing terms
until 17 June 2012. The Company has committed to pay USD 600,000 to Türkpetrol Vakf› on
the date of the side-agreement. Additionally, the Company has committed to make license fee
payments amounting to USD 0.30 per ton of white goods sold until 17 June 2006. These
particular payments will be raised to USD 0.35 per ton of white goods sold in the period
between 17 June 2006 and 17 June 2012.
j) The Company has undertaken to pay USD 5,913,500 to the station owners for the station
improvement in the periods mentioned below:
ABD Dolar›
2003 Y›l›
342,500
2004 Y›l›
342,500
2005 Y›l›
533,500
2006-2021
Y›llar› aras›
4,695,000
In USD
Toplam
5,913,500
19. Bankalardaki mevduat›n bloke olan›na iliflkin tutarlar:
fiirket, Barclays Bank Plc’den kullanm›fl oldu¤u kredinin anapara geri ödemesine istinaden,
1,675,000 ABD Dolar› tutar›nda mevduat› ayn› bankada bloke hesapta tutmaktad›r (2001:
22,442,268 TL–15,589,596 ABD Dolar›). 27 fiubat 2003’de söz konusu bloke mevduat›n
tamam› Barclays Bank Plc kredisi anapara ödemesi için kullan›lacakt›r.
20. Bilançoda maliyet bedeli üzerinden gösterilmifl menkul k›ymetlerin ve finansal duran
varl›klar›n borsa rayiçlerine göre, borsa rayiçleri üzerinden gösterilmifl menkul
k›ymetlerin ve finansal duran varl›klar›n maliyet bedellerine göre de¤erlerini gösteren
bilgi:
Menkul k›ymetler, tekrar geri alma (repo) taahhütü ile sat›n al›nm›fl devlet tahvilleri ve hazine
bonolar› ile hazine bonosundan oluflmaktad›r. Sözkonusu menkul k›ymetler, iliflikteki mali
tablolarda maliyet bedellerinden gösterilmektedir. Tekrar geri alma (repo) taahhütü ile sat›n
al›nm›fl devlet tahvilleri ve hazine bonolar›n›n borsa rayiç bedelleri yoktur. Mali tablolarda,
maliyet bedeli ile gösterilen 1,399,616 TL tutar›ndaki hazine bonosunun borsa rayiç bedeli
1,404,200 TL’dir. Finansal duran varl›klar maliyet bedeli ile gösterilmifltir. 31 Aral›k 2002
tarihi itibariyle finansal duran varl›klar›n borsa rayiç bedelleri yoktur (2001: Yoktur). 31 Aral›k
2002 tarihi itibariyle, ba¤l› ortakl›¤›n elde etme maliyeti net defter de¤erinin üzerinde kald›¤›
için, eksik gerçekleflmeye isabet eden 55,346 TL (2001: 1,308,001 TL), ba¤l› ortakl›klar de¤er
düflüfl karfl›l›¤› olarak ayr›lm›flt›r.
21. Menkul k›ymetler ve ba¤l› menkul k›ymetler grubu içinde yer al›p iflletmenin ortaklar›,
ifltirakleri ve ba¤l› ortakl›klar taraf›ndan ç›kar›lm›fl bulunan menkul k›ymet tutarlar› ve
bunlar› ç›karan ortakl›klar:
Yoktur.
22. Mali tablolardaki “di¤er” ibaresini tafl›yan hesap kalemlerinden dahil oldu¤u grubun
toplam tutar›n›n %20’sini veya bilanço aktif toplam›n›n %5’ini aflan kalemlerin ad ve
tutarlar›:
Year 2004
342,500
Year 2005
533,500
Years Between
2006-2021
4,695,000
Total
5,913,500
19. Amount of blocked cash at banks:
The Company has blocked its deposits amounting to USD 1,675,000 (2001: TL 22,442,268–
USD 15,589,596) in Barclays Bank Plc against the repayment of borrowings from the same
bank. On 27 January 2003, the above mentioned amount will be used for the principal payment
of the Barclays Bank Plc borrowing.
20. Disclosure of the market value of marketable securities and investments which are stated
at cost; and cost value of marketable securities and investments which are stated at market
value in the financial statements:
Marketable securities comprised of government bonds and treasury bills have been purchased
under the repurchasing agreement and treasury bills. These marketable securities are stated at
cost value in the financial statements. There is no market value of government bonds and
treasury bills have been purchased under the repurchasing agreement. The market value of
treasury bills are TL 1,404,200 that are shown at cost value TL 1,399,616 in the financial
statements. Investments are stated at cost value in the financial statements. There is no market
value of investments as of 31 December 2002 (2001: none). The Company’s affiliated
company’s cost value is over the net book value. Therefore, the Company was provided
allowance for impairment in the value of the affiliated company in the amount of TL 55,346
(2001: TL 1,308,001) in order to bring its net book value to the carrying amount (on the
balance sheet date).
21. Marketable securities that are included in securities in the balance sheets but issued by the
entity’s shareholders, affiliated companies and investees, and the companies that issue these:
None.
22. Description and amount of the items included in “other” captions exceeding 20% of the
account group or 5% of the total assets:
22.1. Other Liquid Assets:
These include daily cheques at collection.
22.1. Di¤er Haz›r De¤erler:
Tahsildeki günlük çeklerden oluflmaktad›r.
22.2. Other Current Assets:
Other current assets as of 31 December are as follows:
22.2. Di¤er Dönen Varl›klar:
31 Aral›k tarihleri itibariyle di¤er dönen varl›klar afla¤›daki gibidir:
Peflin ödenmifl giderler
Peflin ödenen vergi ve fonlar
Devreden KDV
Year 2003
342,500
2002
1,250,742
151,168
-
2001
508,908
1,410,832
53,997
1,401,910
1,973,737
Prepaid expenses
Prepaid taxes
Value added tax receivable
2002
1,250,742
151,168
-
2001
508,908
1,410,832
53,997
1,401,910
1,973,737
22.3. Di¤er Maddi Duran Varl›klar:
Di¤er maddi duran varl›klar d›flar›ya (bayilere) hizmete verilen istasyon araç ve gereçleriyle
ve yine bayilerin istasyonlar›ndaki reklam malzemelerinden, tesislerde kullan›lan alet
edevattan ve özel maliyetten oluflmaktad›r.
22.4. Di¤er Maddi Olmayan Duran Varl›klar:
Di¤er maddi olmayan duran varl›klar, Devir Denklefltirme Hesab›’ndan oluflmaktad›r. Bu
hesap Tabafl Petrolcülük A.fi.’nin 30 Eylül 1999 tarihi itibariyle Turcas Petrolcülük A.fi.’yi
devralmas› sonucu mali tablolar üzerinde oluflmufltur. Bu hesap iki kalemden oluflmaktad›r;
devir ifllemi sonucunda do¤an özsermaye fark›, yani birleflme sonras› devral›nan aktif ve
pasiflerle Tabafl Petrolcülük A.fi.’nin kendi aktif ve pasiflerinin toplanmas› sonucu oluflan
4,669,767 TL pozitif fark ve Tabafl Petrolcülük A.fi.’nin Turcas Petrolcülük A.fi.’ye ifltirak
tutar› olan 50,019,653 TL’nin birleflme nedeniyle Tabafl Petrolcülük A.fi. bilançosundan
ç›kar›lmas› sonucu oluflan negatif fark, toplam olarak 45,349,886 TL devir denklefltirme
hesab› yaratmaktad›r. Devir denklefltirme hesab› k›st metodu ve normal amortisman
yöntemi uygulanarak 5 sene içinde itfa olacakt›r.
22.5. Di¤er Duran Varl›klar:
31 Aral›k tarihleri itibariyle di¤er duran varl›klar gelecek y›llara ait peflin ödenen giderlerden
oluflmaktad›r.
22.6. Di¤er Borç ve Gider Karfl›l›klar›:
Tazminat karfl›l›¤›
‹sim hakk› gideri karfl›l›¤›
Di¤er gider karfl›l›klar›
2002
371,014
225,266
13,656
2001
350,000
191,349
6,722
609,936
548,071
‹sim hakk› gideri karfl›l›¤› Not 18 (i)’de bahsedildi¤i üzere Türkpetrol Vakf›’na ödenmesi
gereken lisans bedelinin 31 Aral›k 2002 tarihinde sona eren hesap dönemine isabet eden
tutar›n› içermektedir.
Tazminat karfl›l›¤› Not 13’te anlat›lm›flt›r.
22.7. Uzun Vadeli Di¤er Borçlar:
31 Aral›k tarihleri itibariyle uzun vadeli di¤er borçlar gelecek y›llara ait peflin tahsil edilen kira
gelirlerinden oluflmaktad›r.
22.8. Ödenecek Vergi, Harç ve Di¤er Kesintiler:
31 Aral›k tarihleri itibariyle ödenecek vergi, harç ve di¤er kesintiler afla¤›daki gibidir:
Gelir vergisi (Maafllar üzerindeki)
Sosyal Sigorta Kurumu’na borçlar
Katma De¤er Vergisi
Di¤er
2002
234,378
107,781
106,114
17,450
2001
151,027
72,040
116,436
14,923
465,723
354,426
22.9. K›sa Vadeli Di¤er Borçlar:
31 Aral›k tarihleri itibariyle k›sa vadeli di¤er borçlar gelecek aylara ait peflin tahsil edilen kira
gelirlerinden oluflmaktad›r.
22.10. Faaliyetlerle ilgili Di¤er Gelirler ve Karlar:
31 Aral›k tarihleri itibariyle faaliyetlerle ilgili di¤er gelirler ve karlar afla¤›daki gibidir:
Komisyon geliri
Kur fark› geliri
Bayilik hakk› geliri
ATM geliri
Reklam kat›l›m›
Navlun geliri
Kira geliri
Servis geliri
Haz›r kart geliri
Reeskont geliri
Di¤er
2002
6,632,014
1,217,177
757,603
289,359
214,434
161,344
121,394
41,898
3,984
582,524
2001
7,215,520
5,110,442
604,078
150,283
396,046
116,296
32,159
50,842
273,617
246,886
10,021,731
14,196,169
22.3. Other Tangible Assets:
Other tangible assets comprise fixtures and advertising equipment given to dealers to be used at
the stations, other fixtures, and leasehold improvements.
22.4. Other Intangible Assets:
Other tangible assets comprise Merger Equalisation Account. Merger Equalisation Account, which
was computed on financial statements as of 30 September 1999, is composed of two accounts:
equity difference resulting from merger, i.e., positive difference amounting to TL 4,669,767
resulting from the sum of assets and liabilities transferred by Tabafl Petrolcülük A.fi.; and negative
difference amounting to TL 45,349,886 resulting from the deduction of intercompany investment
amounting to TL 50,019,653 of Tabafl Petrolcülük A.fi. in Turcas Petrolcülük A.fi. from the
balance sheet of Tabafl Petrolcülük A.fi.. The Merger Equalisation Account will be amortised in
5 years using straight-line method on a pro-rata basis.
22.5. Other Tangible Assets:
As of 31 December 2002, other tangible assets are composed of prepaid expenses.
22.6. Provision for Other Liability and Expenses:
Provision for compensation expense
Provision for title right expense
Provision for other expenses
2002
371,014
225,266
13,656
2001
350,000
191,349
6,722
609,936
548,071
Provision for title right expense is comprised of the payable to Türkpetrol Vakf› as of 31
December 2002 as explained in Note 18, article “i”.
Provision for compensation expense is explained in Note 13.
22.7. Other Long-Term Liabilities:
Other long-term liabilities include unearned rent income of the following years as of 31
December.
22.8. Taxes and Duties Payable:
Taxes and duties payable comprise the following as of 31 December:
Income tax (on payroll)
Payable to SSK
VAT payable
Others
2002
234,378
107,781
106,114
17,450
2001
151,027
72,040
116,436
14,923
465,723
354,426
22.9. Other Short-Term Liabilities:
Other long-term liabilities include unearned rent income of the following months as of 31
December.
22.10. Other Operating Income:
Other operating income comprises the following as of December 31:
Commission income
Foreign exchange income
Agent-right income
ATM income
Advertisement expense
Freight charge income
Rent income
Service income
Sim card sale income
Discount income
Other
2002
6,632,014
1,217,177
757,603
289,359
214,434
161,344
121,394
41,898
3,984
582,524
2001
7,215,520
5,110,442
604,078
150,283
396,046
116,296
32,159
50,842
273,617
246,886
10,021,731
14,196,169
39
22.11. Faiz ve Di¤er Temettü Gelirleri:
31 Aral›k 2002 tarihi itibariyle faiz ve di¤er temettü gelirleri afla¤›daki gibidir:
Repo geliri
Faiz geliri
22.11. Interest and Other Dividend Income:
Other interest and dividend income comprises the following as of 31 December:
2002
1,061,335
152,610
2001
4,852,723
1,377,170
1,213,945
6,229,893
22.12. Di¤er Ola¤anüstü Gelirler ve Karlar:
31 Aral›k 2002 tarihi itibariyle di¤er ola¤anüstü gelirler ve karlar afla¤›daki gibidir:
Sabit k›ymet sat›fl geliri
Di¤er
2002
13,339,781
128,903
2001
135,849
-
13,468,684
135,849
23. “Di¤er Alacaklar’’ ile ‘’Di¤er K›sa veya Uzun Vadeli Borçlar’’ hesap kalemi içinde
bulunan ve bilanço aktif toplam›n›n yüzde birini aflan, personelden alacaklar ile personele
borçlar tutarlar›n›n ayr› ayr› toplamlar›:
31 Aral›k 2002 tarihi itibariyle personelden alacaklar 7,060 TL’dir (2001: 39,085 TL).
24. Ortaklar, ifltirakler ve ba¤l› ortakl›klardan alacaklar nedeniyle ayr›lan flüpheli alacak
tutarlar› ve bunlar›n borçlular›:
Yoktur.
25. Vadesi gelmifl bulunan ve henüz vadesi gelmeyen alacaklar için ayr›lan flüpheli alacak
tutarlar›:
31 Aral›k 2002 tarihi itibariyle, flüpheli alacak karfl›l›¤› 361,399 TL’dir (2001: 385,962 TL).
26. ‹flletme ile dolayl› sermaye ve yönetim iliflkisine sahip ifltirakler ve ba¤l› ortakl›klar›n
dökümü ile ifltirakler ve ba¤l› ortakl›klar hesab›nda yer alan ortakl›klar›n isimleri ve ifltirak
oran ve tutarlar›:
2002
2001
‹fltirakler
Oran
Tutar
Oran
Tutar
Ambarl› Depolama Hizmetleri Ltd. fiti.
%50
250
%50
250
%99.9
2,154,802
(55,346)
2,099,706
2002
1,061,335
152,610
2001
4,852,723
1,377,170
1,213,945
6,229,893
22.12. Other Extraordinary Income:
Other extraordinary income comprises the following as of 31 December:
Sabit k›ymet sat›fl gelirinin 13,249,219 TL’si fiirket’e ait olan Turcas I ve Turcas II isimli
gemilerin sat›fl›ndan kaynaklanmakta olup, 90,562 TL tutar›ndaki (2001: 135,849 TL) bakiye
ise di¤er sabit k›ymet sat›fllar›ndan oluflmaktad›r.
Ba¤l› ortakl›klar
Marmara Petrol ve Rafineri ‹flleri A.fi.
(Ba¤l› ortakl›klar de¤er düflüfl karfl›l›¤›)
Repo Income
Interest Income
%99.9 2,154,802
(1,308,001)
847,051
Sales Income on Tangible Assets
Others
2002
13,339,781
128,903
2001
135,849
-
13,468,684
135,849
TL 13,249,219 of total sales income consists of the sales of Turcas I and Turcas II vessels, the
remaining of TL 90,562 (2001: TL 135,849) is coming from the sales of fixed assets.
23. Total amount of due from and due to personnel included in the accounts “Other
Receivables” and “Other Short-Term or Long-Term Payables” and exceeding 1% of the total
assets:
At 31 December 2002, the receivable from personnel is TL 7,060 (2001: TL 39,085).
24. Provision for doubtful receivables from shareholders, affiliated companies and investees:
None.
25. Provision for doubtful receivables that are already due or not yet due:
Provision for doubtful receivables as of 31 December 2002 is TL 361,399 (2001: TL 385,962).
26. Breakdown of affiliated companies and investees in which there is a direct or indirect
ownership by the Company. The names of such companies included in the account “Affiliated
Companies and Investees”; the percentage of the ownership and the amount:
2002
Investees
Ambarl› Depolama Hizmetleri Ltd. fiti.
Affiliated Companies
Marmara Petrol ve Rafineri ‹flleri A.fi.
Allowance for impairment in value of
affiliated company
Percentage
50%
2001
Amount
250
Percentage
50%
Amount
250
99.9%
2,154,802
99.9% 2,154,802
(55,346)
(1,308,001)
2,099,706
847,051
31 Aral›k 2002 ve 2001 tarihleri itibariyle, Marmara Petrol ve Rafineri ‹flleri A.fi.’nin elde
etme maliyeti net defter de¤erinin üzerinde kald›¤› için, eksik gerçekleflme tutar› kadar ba¤l›
ortakl›klar de¤er düflüfl karfl›l›¤› ayr›lm›flt›r.
As of 31 December 2002 and 2001, Marmara Petrol ve Rafineri ‹flleri A.fi.’s cost value is over
the net book value. Therefore, the Company has provided allowance for the impairment in value
of the affiliated company in order to bring net book value to cost value.
Ambarl› Depolama Hizmetleri Ltd. fiti.’nin 31 Aral›k 2002 tarihinde sona eren y›la ait net
dönem kar› 60,566 TL (2001: 41,499 TL), özkaynak toplam› 82,069 TL (2001: 48,159 TL),
Marmara Petrol ve Rafineri ‹flleri A.fi.’nin 31 Aral›k 2002 tarihinde sona eren y›la ait net
dönem kar› 1,252,656 TL (2001: 2,722,360 TL-zarar), özkaynak toplam› 2,099,456 TL
(2001: 846,801 TL)’dir. Her iki flirketin bilançolar› Sermaye Piyasas› Kurulu standartlar›na
göre haz›rlanmam›fl ve bu standartlara göre ba¤›ms›z denetime tabi tutulmam›flt›r.
The net income of Ambarl› Depolama Hizmetleri Ltd fiti for the year ended 31 December 2002
amounted to TL 60,566 (2001: TL 41,499), total equity of it amounted to TL 82,069 (2001: TL
48,159), and the net income of Marmara Petrol ve Rafineri ‹flleri A.fi. for the year ended 31
December 2002 amounted to TL 1,252,656 (2001: TL 2,722,360 loss) and total equity of it
amounted to TL 2,099,456 (2001: TL 846,801). The financial statements of both companies
were not prepared in accordance with generally accepted accounting principles promulgated by
the Capital Markets Board and were not audited.
27. ‹fltirakler ve ba¤l› ortakl›klarda içsel kaynaklardan yap›lan sermaye art›r›m› nedeniyle
elde edilen bedelsiz hisse senedi tutarlar›:
1999 y›l›nda Marmara Petrol ve Rafineri ‹flleri A.fi. tamam› maliyet art›fl fonundan olmak
üzere toplam sermayesini 150,000 TL’den 1,090,000 TL’ye ç›kartm›fl ve karfl›l›¤›nda fiirket’e
940,000 TL tutar›nda bedelsiz hisse senedi vermifltir.
28. Tafl›nmazlar üzerinde sahip olunan ayni haklar ve bunlar›n de¤erleri:
Yoktur.
27. Free shares acquired due to the capital increase of investees and affiliated companies made
from the revaluation reserve:
In 1999 Marmara Petrol ve Rafineri ‹flleri A.fi. has increased its share capital from TL 150,000
to TL 1,090,000 from cost increment fund and as a result of this increase the Company has
obtained bonus shares amounting to TL 940,000.
28. Rights on immovable assets and their value:
None.
29. Amount of the revaluation increment on tangible assets:
29. Duran varl›klarda yap›lan yeniden de¤erleme tutarlar›:
Yeniden De¤erleme
5,385,761
8,878,266
14,184,136
2000
2001
2002
30. Yabanc› paralarla temsil edilen ve kur garantisi olmayan alacak ve borçlar ile aktifte
mevcut yabanc› paralar›n ayr› ayr› tutarlar› ve TL'ye dönüfltürülme kurlar›:
Kasa
Bankalar
Al›c›lar
Di¤er K›sa Vadeli
Ticari Alacaklar
KV Banka Kredileri
ve Faizleri
UV Kredilerin KV
Anapara Taksit
ve Faizleri
UV Banka Kredileri
Sat›c›lara Borçlar
KV Banka Kredileri
ve faizleri
Döviz Tevdiat Hesab›
Ortaklara Borçlar
Sat›c›lara Borçlar
Cinsi
ABD Dolar›
EURO
GBP
ABD Dolar›
EURO
ABD Dolar›
2002
Yabanc› Para Tutar›
1,155
425
25
2,185,228
3,200
90,227
Kur
1,634,501
1,703,477
2,618,888
1,634,501
1,703,477
1,634,501
TL Tutar›
1,888
724
66
3,571,757
5,451
147,475
ABD Dolar›
10,287
1,634,501
16,814
ABD Dolar›
9,085,606
1,642,384
14,922,054
ABD Dolar›
ABD Dolar›
ABD Dolar›
20,361,749
41,760,000
271,398
1,642,384
1,642,384
1,642,384
33,441,811
68,585,956
445,740
Cinsi
2001
Yabanc› Para Tutar›
ABD Dolar›
ABD Dolar›
ABD Dolar›
ABD Dolar›
94,770,407
15,554,135
3,125,000
446,220
Kur
TL Tutar›
1,446,510 137,086,341
1,439,567 22,391,219
1,446,510 4,520,344
1,446,510
645,462
31. Ortaklar, ifltirakler ve ba¤l› ortakl›klar lehine verilen garanti, taahhüt, kefalet, avans,
ciro gibi yükümlülüklerin tutar›:
fiirket, ba¤l› ortakl›¤› olan Marmara Petrol ve Rafineri ‹flleri A.fi.’nin HSBC Bank’dan kullanm›fl
oldu¤u 4,500,000 ABD Dolar› (2001: 5,000,000 ABD Dolar›) kredi için sözkonusu bankaya
4,950,000 ABD Dolar› karfl›l›¤› müflteri çeklerini teminat olarak vermifltir (2001: 2,500,000
ABD Dolar› tutar›nda kefalet vermifltir). Ayr›ca, fiirket’in büyük hissedarlar›ndan Erdal Aksoy
ve merhum Baha Kaya Alp Baban sözkonusu kredi için 10,000,000 ABD Dolar› tutar›nda
flahsi kefalet vermifllerdir.
30. Assets and liabilities of the Company denominated in foreign currencies and the amount of
foreign currency deposits included in assets; and the foreign exchange rates used for translating
them into TL are as follows:
Cash
Banks
Trade Receivables
Other S/T Trade Receivables
S/T Bank Borrowings
and Accrued Interests
S/T Capital and Interest
Portion of the L/T Borrowings
L/T Bank Borrowings
Payables to Suppliers
S/T Bank Borrowings and
Accrued Interest Expenses
Deposits in Foreign Currency
Payable to Shareholders
Accounts Payable
2002
156
32
2001
157
34
Toplam
188
191
33. Mali tablolar› önemli ölçüde etkileyen ya da mali tablolar›n aç›k, yorumlanabilir ve
anlafl›labilir olmas› aç›s›ndan aç›klanmas› gerekli olan di¤er hususlar:
fiirket, 31 Aral›k 2002 tarihinde sona eren dönemi 12,233,307 TL kar ve 89,826,832 TL
geçmifl y›l zararlar› ile kapatm›flt›r. 31 Aral›k 2002 tarihi itibariyle, özkaynaklar eksi 9,692,597
TL olup sermayenin 1/3’ünün alt›nda kalmaktad›r. Sermaye Piyasas› Kurulu, fiirket’e
göndermifl oldu¤u 12 Temmuz 2001 tarih ve SK-33/5 say›l› yaz›ya istinaden, ‹stanbul 1.
Ticaret Mahkemesi’nden fiirket’in sabit k›ymetlerinin de¤erinin belirlenebilmesi amac›yla
bilirkifli tayin edilmesini talep etmifltir. De¤er tespiti çal›flmalar› 30 Haziran 2001 tarihi
itibariyle s›n›rl› denetimden geçmifl ara mali tablolar üzerinden gerçekleflmifltir. fiirket, 31
Aral›k 2002 tarihi itibariyle denetimden geçmifl ara mali tablolar›na ek teflkil etmek suretiyle
sabit k›ymetler de¤er tespit raporunu ve bu de¤erleme sonucu oluflacak olan 40,632,769 TL
pozitif özkaynak tutar›n› Sermaye Piyasas› Kurulu’na bildirecektir.
fiirket, petrol da¤›t›m sektöründe faaliyette bulunan di¤er da¤›t›m flirketleriyle tedarik amaçl›
mal al›m sat›m›nda bulunmaktad›r. Bu ifllemlerin kar marj› olmamaktad›r. fiirket’in 2002
y›l›nda bu amaçla gerçeklefltirdi¤i al›m ve sat›mlar›n tutar› 25,713,132 TL (2001: 27,896,671
TL)’dir (Bu tutarlar ekteki mali tablolarda sat›fllar ve sat›lan mal›n maliyeti hesaplar› ile
netlefltirilmifltir).
Currency
USD
EUR
GBP
USD
EUR
USD
USD
2002
FC Amount
1,155
425
25
2,185,228
3,200
90,227
10,287
USD
9,085,606
1,642,384 14,922,054
USD
USD
USD
20,361,749
41,760,000
271,398
1,642,384 33,441,811
1,642,384 68,585,956
1,642,384
445,740
Currency
2001
FC Amount
USD
USD
USD
USD
94,770,407
15,554,135
3,125,000
446,220
Exchange Rate
1,634,501
1,703,477
2,618,888
1,634,501
1,703,477
1,634,501
1,634,501
Exchange Rate
TL Amount
1,888
724
66
3,571,757
5,451
147,475
16,814
TL Amount
1,446,510 137,086,341
1,439,567 22,391,219
1,446,510 4,520,344
1,446,510
645,462
31. Amount of commitments given to shareholders, affiliated companies and investees in the
form of guarantees, sureties, advances, etc.:
The Company has given Turcas Petrol A.fi. customer cheques amounting to USD 4,950,000
(2001: USD 2,500,000) to HSBC Bank for the loan obtained from HSBC Bank by its affiliated
company, Marmara Petrol ve Rafineri ‹flleri A.fi. amounting to USD 4,500,000 (2001: USD
5,000,000). Additionally, the Company’s main shareholders, Erdal Aksoy and Baha Kaya Alp
Baban (deceased) gave their own guarantees amounting to USD 10,000,000.
32. Average number of personnel that worked during the year:
32. Kategorileri itibariyle y›l içinde çal›flan personelin ortalama say›s›:
Memur
‹flçi
Revaluation Surplus
5,385,761
8,878,266
14,184,136
2000
2001
2002
White collar
Blue collar
Total
2002
156
32
2001
157
34
188
191
33. Other items that can affect financial statements or considered as necessary in order to
make financial statements clear, reasonable and understandable:
The Company has completed the period ending on 31 December 2002 with TL 12,233,307
profit and TL 89,826,832 prior year loss. As of 31 December 2002, equity is minus TL
9,692,597 and below 1/3 of the capital. According to the notice from the Capital Markets
Board dated 12 July 2001 and numbered as SK-33/5, it is demanded that an expert should be
assigned for the valuation of the fixed assets. The valuation is realized on the financial
statements that have been audited on 30 June 2001. In addition to the financial
statements that have been audited on 31 December 2002, the Company is going to notify TL
40,632,769 of positive shareholders’ equity that is going to arise from the valuation of fixed
assets to Capital Markets Board.
The Company exchanges oil with other oil companies to fulfill demand on a timely basis. There
is no profit margin on these transactions. Total amount of this kind of sales and purchases are
amounting to TL 25,713,132 in 2002 (2001: TL 27,896,671) (This amount is netted from the
sales and cost of sales account in the accompanying financial statements).
41
34. Dönemin vergi karfl›l›klar›:
31 Aral›k 2002 itibariyle, fiirket %30 oran›nda kurumlar vergisi ve toplam %10’a ulaflan çeflitli
fon kesintileri ile birlikte toplam %33 oran›nda vergiye tabidir. Buna ilave olarak, kurum
kazanc›ndan kurumlar vergisi düflüldükten sonra kalan tutar, sadece temettü da¤›t›lmas›
halinde, %5 oran›nda gelir vergisine tabidir. Bu oran üzerinden %10 fon kesintisi ile beraber
toplam gelir vergisi yükü %5.5 olmaktad›r.
34. Provision for taxes:
As of 31 December 2002, the Company is subject to 30% corporation tax and 10% funds
deduction on corporation tax, thus the effective corporation tax rate is 33%. Additionally, the
Company may be subject to an income tax, which will be applicable when dividends will be
distributed and at the rate of 5%. Total income tax rate is 5.5% with 10% funds deduction.
The tax provisions as of 31 December are as follows:
31 Aral›k tarihleri itibariyle hesaplanan vergi karfl›l›klar› afla¤›daki gibidir:
Ticari kar/(zarar)
‹laveler
‹ndirimler
Kurumlar vergisi matrah›
Önceki y›l vergi zarar›
Mahsup edilecek önceki y›l vergi zarar toplam›
Kurumlar vergisi
Gelir vergisi stopaj matrah›
Gelir vergisi
Toplam vergi karfl›l›¤›
2002
12,233,307
18,233,041
(15,564,188)
14,902,160
(52,877,900)
(37,975,740)
-
2001
(75,964,623)
34,724,779
(2,559,826)
(43,799,670)
(9,078,230)
(52,877,900)
-
Net profit/(loss) for the year
Additions
Deductions
Corporate tax assessment
Deduction of statutory loss
carried from prior years
Total statutory loss carried that will be
deducted in following years
Corporation tax
Withholding tax assessment
Income tax
Total tax accrual
2002
12,233,307
18,233,041
(15,564,188)
14,902,160
2001
(75,964,623)
34,724,779
(2,559,826)
(43,799,670)
(52,877,900)
(9,078,230)
(37,975,740)
-
(52,877,900)
-
Turcas Petrol Anonim fiirketi
Turcas Petrol Anonim fiirketi
31 Aral›k 2002 ve 2001 Tarihlerinde Sona Eren Hesap
Dönemlerine Ait Gelir Tablolar› Dipnotlar›
Notes to the Statements of Operations For the Years Ended
31 December 2002 and 2001
(Birim - Aksi belirtilmedikçe Milyon Türk Liras›)
(Currency - Millions of Turkish Lira unless otherwise stated)
1. Dönemin tüm amortisman giderleri ile itfa ve tükenme paylar›:
1. Total depreciation and amortisation expenses for the periods:
2002
Amortisman giderleri
Normal amortisman giderleri
Yeniden de¤erlemeden do¤an amortisman giderleri
‹tfa ve tükenme paylar›
4,034,104
2,712,159
9,337,379
2001
4,871,959
1,390,537
9,341,931
2. Dönemin reeskont ve karfl›l›k giderleri:
Ba¤l› ortakl›k de¤er düflüfl karfl›l›¤›
K›dem tazminat› karfl›l›¤›
Tazminat karfl›l›¤›
fiüpheli alacak karfl›l›¤›
Alacak reeskontu, net
‹sim hakk› gideri karfl›l›¤›
2002
2001
4,034,104
2,712,159
9,337,379
4,871,959
1,390,537
9,341,931
2002
55,346
482,132
21,014
476,602
22,636
225,266
2001
1,308,001
534,608
350,000
172,988
(273,617)
191,348
2002
20,842,580
2001
106,727,866
2. Provisions and discount expenses:
2002
55,346
482,132
21,014
476,602
22,636
225,266
2001
1,308,001
534,608
350,000
172,988
(273,617)
191,348
3. Dönemin tüm finansman giderleri:
Üretim maliyetine verilenler
Duran varl›klar›n maliyetine verilenler
Do¤rudan gider yaz›lanlar
Depreciation expense
Depreciation expense on historic cost
Depreciation expense on revaluation increment
Amortisation expense
Provision on affiliated company
Provision for retirement pay liability
Provision on compensation
Provision for doubtful receivables
Discount expense, net
Provision for right of licence
3. All financing expenses of the period:
2002
20,842,580
2001
106,727,866
4. Dönemin finansman giderlerinden ortaklar, ba¤l› ortakl›k ve ifltiraklerle ilgili k›sm›n
tutar› (Toplam tutar içindeki paylar› %20’yi aflanlar ayr›ca gösterilecektir):
fiirket ortaklar›ndan Erdal Aksoy’a, fiirket’in kullanmakta oldu¤u krediler için vermifl oldu¤u
flahsi kefalet komisyonu karfl›l›¤› olarak y›l içinde 119,707 TL (2001: 270,463 TL) ödenmifltir.
5. Ortaklar, ba¤l› ortakl›k ve ifltiraklerle yap›lan sat›fl ve al›fllar (Toplam tutar içindeki
paylar› %20’yi aflanlar ayr›ca gösterilecektir):
a) 31 Aral›k 2002 tarihinde biten hesap dönemi içinde, ortaklar, ifltirakler ve ba¤l› ortakl›klara
71,224,914 TL (2001: 51,736,842 TL) tutar›nda sat›fl yap›lm›flt›r. Bu sat›fllar›n 19,667,035
TL’si ortaklardan merhum Baha Kaya Alp Baban’›n sahip oldu¤u istasyonlara yap›lm›flt›r.
b) 31 Aral›k 2002 tarihinde biten hesap dönemi içinde, ortaklar, ifltirakler ve ba¤l› ortakl›klardan
132,259,193 TL (2001: 54,282,615 TL) tutar›nda al›fl yap›lm›flt›r. Bu al›fllar›n 129,450,987 TL’lik
bölümü Marmara Petrol Rafineri A.fi.’den gerçekleflirken, geri kalan› Ambarl› Depolama
Hizmetleri Ltd. fiti’den yap›lm›flt›r.
6. Ortaklar, ba¤l› ortakl›k ve ifltiraklerden al›nan ve bunlara ödenen faiz, kira ve
benzerleri (Toplam tutar içindeki paylar› %20’yi aflanlar ayr›ca gösterilecektir):
fiirket’in 31 Aral›k 2002 tarihinde biten hesap dönemi içinde ortaklar, ba¤l› ortaklar ve
ifltiraklere 3,483,761 TL (2001: 452,931 TL) tutar›nda servis hizmet gideri mevcuttur. fiirket
ayr›ca 31 Aral›k 2002 tarihinde biten hesap dönemi içinde 13,902 TL (2001: 9,128 TL)
tutar›nda temettü geliri ve 9,912 TL kira geliri elde etmifltir.
31 Aral›k 2002 tarihinde fiirket ile Marmara Petrol Rafineri ‹flleri A.fi. aras›nda yap›lan
mutabakat zabt› uyar›nca yap›lan yaflland›rma çal›flmas› sonucu ve di¤er ana da¤›t›m
flirketlerinden yap›lan mal al›mlar›na ait ödeme vadeleri dikkate al›narak fiirket’ten faiz talep
edilmemesi konusunda mutab›k kal›nm›flt›r (2001: 1,005,645 TL faiz gideri ödenmifltir).
fiirket, istasyonlar›nda yap›lacak yenilikler, bak›m-tamir ve istasyonlar›n modernlefltirilmesi
yolundaki yat›r›mlara katk›da bulunmak ve desteklemek amac›yla istasyon sahiplerine,
aralar›nda düzenlenen protokollere ba¤l› olarak ödemelerde bulunmaktad›r. Bayiler, bu
ödemelere karfl›l›k, y›ll›k belli bir miktarda beyaz ürün sat›fl›n› taahhüt etmektedirler. 2002
y›l›nda fiirket ortaklar›na bu yönde herhangi bir ödeme yap›lmam›flt›r. (2001 y›l›nda fiirket
ortaklar›ndan Baha Kaya Alp Baban’a ait olan Baban Petrol Ürünleri Sanayi ve Ticaret A.fi.’ye
niteli¤i yukar›da aç›kland›¤› flekilde 509,772 TL ödeme yap›lm›flt›r).
2002 y›l›nda ortaklar, ba¤l› ortakl›k ve ifltiraklere herhangi bir hizmet ile ilgili ödeme yoktur.
(2001: Yönetim Kurulu Baflkanl›¤›’n› fiirket ortaklar›ndan Erdal Aksoy’un yapt›¤› Enak
Pazarlama Depolama ve Nakliyat A.fi.’ne 349,585 TL teknik dan›flmanl›k ve arac›l›k hizmet
bedeli ödenmifltir).
Capitalised in cost of production
Capitalised on long-term assets
Recorded directly to expense
4. Amount of the financing expenses for the period related with shareholders, investees and
affiliated companies (The financing expenses exceeding 20% will be shown separately):
Commission expense amounting to TL 119,707 (2001: TL 270,463) has been paid to the
Company’s shareholder, Erdal Aksoy, in return for the personal guarantee given for the
borrowings used by the Company.
5. Transactions with affiliated parties (Those exceeding 20% will be shown separately):
a) During the year ended 31 December 2002, sales to shareholders, investees, and affiliated
companies amounted to TL 71,224,914 (2001: TL 51,736,842). TL 19,667,035 of these sales
is made to stations owned by Baha Kaya Alp Baban (deceased), main shareholder of the
Company.
b) During the year ended 31 December 2002, the amount of purchases from shareholders,
affiliated companies, and investees was TL 132,259,193 (2001: TL 54,282,615). TL
129,450,987 of these purchases was made from Marmara Petrol Rafineri A.fi., and the
remaining portion was made from Ambarl› Depolama Hizmetleri Ltd. fiti..
6. Interest, rent or other types of transactions paid to or received from shareholders, investees
and affiliated companies: (Those exceeding 20% will be shown separately):
During the year ended 31 December 2002, there was a service expense paid to the
shareholders, investees, and affiliated companies amounting to TL 3,483,761 (2001: TL
452,931). There was dividend income amounting to TL 13,902 (2001: TL 9,128), and rent
income amounting to TL 9,912.
As of 31 December 2002, the Company and Marmara Petrol Rafineri ‹flleri A.fi. signed a
protocol, considering the payment terms to other delivery companies and payment term to
Marmara Petrol Rafineri A.fi., for not to demand any interest from the Company (2001: The
Company paid interest expense amounting to TL 1,005,645).
The Company is making payments to station owners according to the agreements and protocols
signed between the Company and the stations to help with their investments; revisions in
stations, care-maintenance, and modernizations in stations. Stations make commitments to
purchase a certain quantity of products from the Company on a yearly basis. If a station cannot
purchase according to the commitment, it may pay penalty. In 2002, there is no such payment
to shareholders. (2001: The Company made payments amounting TL 509,772 to Baban Petrol
Ürünleri Sanayi ve Ticaret A.fi., which belongs to Baha Kaya Alp Baban (deceased), one of the
Company’s shareholders).
In 2002, there is no service payment to shareholders, investees and affiliated companies (2001:
The Company has paid service expense amounting to TL 349,585 to Enak Pazarlama
Depolama ve Nakliyat A.fi., whose Chairman is Erdal Aksoy, one of the Company’s shareholders,
for the technical consultancy and services received for the future investment plans of the
Company).
43
7. Yönetim kurulu baflkan ve üyeleriyle genel müdür, genel koordinatör, genel müdür
yard›mc›lar› gibi üst yöneticilere cari dönemde sa¤lanan ücret ve benzeri menfaatlerin
toplam tutar›:
fiirket’in üst yöneticilere cari dönemde sa¤lad›¤› ücret ve benzeri menfaatlerin toplam›
2,230,257 TL’dir (2001: 597,247 TL).
8. Amortisman hesaplama yöntemleri ile bu yöntemlerde yap›lan de¤iflikliklerin dönemin
amortisman giderlerinde meydana getirdi¤i art›fl (+) veya azal›fl (-):
Yoktur.
9. Stok maliyeti hesaplama sistemleri ( safha veya siparifl maliyeti gibi ) ve yöntemleri
(a¤›rl›kl› ortalama maliyet, ilk giren ilk ç›kar, hareketli ortalama maliyet gibi)
Stoklar, a¤›rl›kl› ortalama maliyet yöntemi kullan›larak de¤erlendirilmektedir.
11. Yurtiçi ve yurt d›fl› sat›fllar hesap kalemi içinde yer alan ürün, hurda, döküntü gibi
maddelerin sat›fllar› ile hizmet sat›fllar›n›n ayr› ayr› toplamlar›n›n brüt sat›fllar›n yüzde
yirmisini aflmas› halinde bu madde ve hizmetlere iliflkin tutarlar:
Bu tür sat›fllar›n toplamlar› brüt sat›fllar›n %20’sini aflmamaktad›r.
13. Önceki döneme iliflkin gelir ve karlar ile önceki döneme ait gider ve zararlar›n
tutarlar›n› ve kaynaklar›n› gösteren aç›klay›c› not:
611,356 TL (2001: 1,384,789 TL) önceki dönem gideri, 38,127 TL (2001: 100 TL) önceki
dönem geliri mevcuttur. Önceki dönem giderini oluflturan tutar›n 368,644 TL’lik bölümü
menkul k›ymetlerin 2001 y›l› içinde geri dönüflünde kesinti yoluyla ödenen vergilerin
mükerrer kay›tlar›n›n kurumlar vergisi beyannamesinde düzeltilerek önceki dönem giderleri
olarak yaz›lmas›ndan kaynaklan›rken, 110,432 TL’lik tutar› fiirket ortaklar›n›n fiirket’in 2001 y›l›
içinde kullanm›fl oldu¤u kredilere kefil olmalar›ndan do¤an komisyon masraflar›ndan, 72,976
TL’lik tutar ise Barclays Bank’dan kullan›lan kredilere ait komisyon masraf›n›n 2002 y›l› içinde
flirket kay›tlar›na al›nmas›ndan oluflmaktad›r. Kalan 59,304 TL’lik tutar ise önceki döneme ait
di¤er giderlerden kaynaklanmaktad›r.
Önceki dönem gelirini oluflturan tutar›n 13,667 TL tutar›ndaki bölümü peflin tahsil edilen
gelirlerin 2001 y›l›na ait k›sm›ndan, 12,383 TL tutar›ndaki k›sm› Türkpetrol Vakf›’na 2001 y›l›
içinde fazla ödenmifl olan lisans bedelinden, 9,078 TL’lik k›sm› 2001 y›l›nda fazla ayr›lan
amortisman giderinin iptalinden ve kalan 2,999 TL önceki döneme ait di¤er gelirlerden
kaynaklanmaktad›r.
14. Adi ve imtiyazl› hisse senetleri için ayr› ayr› gösterilmek kofluluyla hisse bafl›na kar ve
kar pay› oranlar›:
Yoktur.
15. Her bir ana üretim grubu için ayr› ayr› olmak üzere, iflletmenin dönem içinde
gerçeklefltirdi¤i mal ve hizmet üretim miktarlar›ndaki de¤iflmeler:
fiirket üretim yapmamaktad›r.
11. Amount of service income and revenues from sales of scrap or damaged goods, which are
included in the account titled “Local and Foreign Sales” are to be disclosed in the case they
exceed 20% of the total gross sales:
Such revenues are not above 20% of total sales.
13. Explanatory note for income and expenses related to prior period:
There are prior period expense amounting to TL 611,356 (2001: TL 1,384,789), and prior
period income amounting to TL 38,127 (2001: TL 100). TL 368,644 of prior period expenses
resulted from the correction of double accounting of prepaid taxes on marketable securities in
2001; TL 110,432 of prior period expenses resulted from the commission expense charged by
shareholders in 2002, related to loan surety commission expense arose in 2001; and TL 72,976
of prior period expenses resulted from commission expenses related to Barclays Bank loans
used in previous period. The remaining amount of prior period expenses amounting to TL
59,304 is related to other correction entries of prior period account balances.
TL 13,667 of prior period income is resulted from the year 2001 portion of unearned income, TL
12,383 of prior period income is resulted from over payment made to Türk Petrol Vakf› for
license right, TL 9,078 portion is resulted from the correction on over provided accumulated
depreciation in year 2001 and the remaining amount of prior period expenses amounting to TL
2,999 is related to other correction entries of prior period account balances.
14. Earnings per share and percentage of dividends per share for preferred and common
stocks:
None.
15. Changes in the quantities of goods and services produced during the year, separately for
each and every major product group:
The Company does not have production.
16. Changes in the quantities of goods and services sold during the year, separately for each
and every major product group:
16. Her bir ana sat›fl grubu için ayr› ayr› olmak üzere, iflletmenin dönem içinde
gerçeklefltirdi¤i mal ve hizmet sat›fl miktarlar›ndaki de¤iflmeler:
2001
1,043,790
9. Inventory valuation systems (process costing or order costing) and methods (weighted
average, fist in first out, moving average etc.):
Valuation of inventories is made on weighted average cost basis.
12. Information about incentives and support payments regarding sales:
None.
12. ‹flletmenin, varsa, sat›fllar›yla ilgili teflvik ve sübvansiyonlar hakk›nda bilgi:
Yoktur.
2002
1,046,301
8. Increases (+) or decreases (-) on related period’s depreciation expense as a result of
changes made in depreciation methods:
None.
10. If applicable, the reasons for not performing the stock count fully or partially:
Inventories were physically counted.
10. Varsa, tamamen veya k›smen fiili stok say›m› yap›lamamas›n›n gerekçeleri:
Stok say›m› yap›lm›flt›r.
Birim: Ton
Akaryak›t
7. Total amount of salaries and similar benefits provided to Board of Directors, General
Manager, General Coordinator and Assistant General Managers during the period:
The salaries and benefits provided to the top management by the Company is TL 2,230,257
(2001: TL 597,247).
Measurement Unit: Tonnes
Fuel oil
De¤iflim
%
0.2
2002
1,046,301
2001
1,043,790
Change
%
0.2
Turcas Petrol Anonim fiirketi ve Ba¤l› Kuruluflu
31 Aral›k 2002 Hesap Dönemine Ait
Konsolide Mali Tablolar ve Ba¤›ms›z Denetim Raporu
Turcas Petrol Anonim fiirketi and its Subsidiary
Consolidated Financial Statements As At 31 December 2002
With Independent Auditor’s Report Thereon
‹çindekiler
Table of Contents
Ba¤›ms›z Denetim Raporu
Konsolide Gelir Tablosu
Konsolide Bilanço
Konsolide Nakit Ak›m Tablosu
Konsolide Mali Tablolar› Tamamlay›c› Notlar
Independent Auditor’s Report
Consolidated Statement of Operations
Consolidated Balance Sheet
Consolidated Statement of Cash Flow
Notes to Consolidated Financial Statements
Ba¤›ms›z Denetim Raporu
Turcas Petrol Anonim fiirketi
Yönetim Kurulu’na
Turcas Petrol Anonim fiirketi’nin (fiirket) ve Ba¤l› Kuruluflu’nun 31 Aral›k 2002 tarihi itibariyle düzenlenmifl konsolide
bilançosunu, bu tarihte sona eren hesap dönemine ait konsolide gelir tablosunu ve nakit ak›m tablosunu denetlemifl
bulunuyoruz. Mali tablolar›n do¤ru bir flekilde düzenlenmesi fiirket yönetiminin sorumlulu¤u alt›ndad›r. Bizim
sorumlulu¤umuz bu konsolide mali tablolarla ilgili olarak bir denetçi görüflü beyan etmektir.
Denetim çal›flmam›z› Uluslararas› Muhasebeciler Federasyonu taraf›ndan belirlenen Uluslararas› Denetim Standartlar›’na
göre gerçeklefltirdik. Bu standartlar mali tablolar›n önemli derecede bir hatay› içerip içermedi¤i hakk›nda makul bir kan›t
elde edilmesi amac›yla denetim çal›flmalar›m›z›n planlanmas›n› ve gerçeklefltirilmesini öngörmektedirler. Bir denetim
çal›flmas› mali tablolardaki ve onlar› tamamlayan aç›klay›c› notlardaki tutarlar hakk›nda test esas›na göre kan›tlar elde
edilmesi sürecini içermektedir. Bir denetim çal›flmas› mali tablolar›n bir bütün olarak de¤erlendirilmesi yan›nda yönetim
taraf›ndan uygulanan muhasebe ilkelerinin ve yap›lan önemli tahminlerin ve varsay›mlar›n da gözden geçirilmesini
kapsamaktad›r. Denetim çal›flmam›z›n söz konusu mali tablolar üzerinde bir görüfl belirtmemiz için gerekli esaslar›
oluflturdu¤una inanmaktay›z.
Görüflümüze göre, yukar›da bahsedilen konsolide mali tablolar fiirket’in ve ba¤l› kuruluflunun 31 Aral›k 2002 tarihi itibariyle
gerçek mali durumunu ve bu tarihte sona eren döneme ait gerçek faaliyet sonuçlar›n› ve nakit ak›mlar›n›, Uluslararas›
Muhasebe Standartlar› Heyeti taraf›ndan belirlenen Uluslararas› Finansal Raporlama Standartlar›’na uygun olarak do¤ru bir
biçimde yans›tmaktad›r.
28 fiubat 2003
‹stanbul, Türkiye
Independent Auditor’s Report
To the Board of Directors of
Turcas Petrol Anonim fiirketi
We have audited the accompanying consolidated balance sheet of Turcas Petrol Anonim fiirketi (the Company) and its
subsidiary as of 31 December 2002 and the related consolidated statements of operations, and cash flows for the year then
ended. These financial statements are the responsibility of the Company’s management. Our responsibility is to express an
opinion on these consolidated financial statements based on our audit.
We conducted our audit in accordance with International Standards on Auditing as promulgated by the International Federation
of Accountants. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe
that our audit provides a reasonable basis for our opinion.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial
position of the Company and its subsidiary as of 31 December 2002; and the results of its operations and its cash flows for
the year then ended in accordance with International Financial Reporting Standards promulgated by the International
Accounting Standards Board.
28 February 2003
‹stanbul, Turkey
Turcas Petrol A.fi. ve Ba¤l› Kuruluflu 31 Aral›k 2002 tarihi itibariyle sona eren y›la ait Konsolide Gelir Tablosu
Bakiyeler UMS 29 uyar›nca ve enflasyon etkilerini yans›tacak flekilde Türk Liras›’n›n 31 Aral›k 2002 tarihindeki sat›nalma gücü cinsinden milyon TL olarak ifade edilmifltir.
Turcas Petrol A.fi. and its Subsidiary Consolidated Statement of Operations for the year ended 31 December 2002
In millions of TL as adjusted for the effects of inflation in TL units current at 31 December 2002 pursuant to IAS 29.
Not / Note
2002
2001
1,299,007,147
1,276,285,863
(1,241,546,299)
(1,200,316,540)
57,460,848
75,969,323
1
11,818,986
16,551,284
2
(27,563,722)
(24,030,789)
2
(26,040,299)
(33,027,270)
4
(2,560,564)
(269,326)
13,115,249
35,193,222
15,172,647
(47,662,586)
(12,218,503)
(28,802,012)
16,069,393
(41,271,376)
616,022
8,743,009
16,685,415
(32,528,367)
1.86
(4.44)
Sat›fllar
Revenue
Sat›fllar›n Maliyeti
Cost of sales
Brüt Kar
Gross profit
Di¤er faaliyet gelirleri
Other operating income
Sat›fl ve pazarlama giderleri
Selling and marketing expenses
Genel yönetim giderleri
General and administrative expenses
Di¤er faaliyet giderleri
Other operating expenses
Faaliyet Kar›
Profit from operations
Finansman geliri / (gideri)
Financing income / (expense)
Parasal pozisyon zarar›
Monetary loss
Vergi öncesi kar / (zarar)
Profit before tax / (loss)
Vergi alaca¤›
Tax credit
5
6
Net kar / (zarar)
Net profit / (loss) for the year
Hisse bafl›na kar / (zarar)
Basic earnings / (loss) per share
‹liflikteki notlar bu mali tablolar›n tamamlay›c› parças›d›r.
The accompanying notes are an integral part of these statements.
18
Turcas Petrol A.fi. ve Ba¤l› Kuruluflu 31 Aral›k 2002 tarihi itibariyle sona eren y›la ait Konsolide Bilanço
Bakiyeler UMS 29 uyar›nca ve enflasyon etkilerini yans›tacak flekilde Türk Liras›’n›n 31 Aral›k 2002 tarihindeki sat›nalma gücü cinsinden milyon TL olarak ifade edilmifltir.
Turcas Petrol A.fi. and its Subsidiary Consolidated Balance Sheet As At 31 December 2002
In millions of TL as adjusted for the effects of inflation in TL units current at 31 December 2002 pursuant to IAS 29.
Varl›klar
Assets
Maddi duran varl›klar
Property, plant and equipment
Maddi olmayan duran varl›klar
Intangible assets
fierefiye, net
Goodwill, net
‹fltirakler ve ba¤l› ortakl›klar
Investments in associates and other investments
Ertelenmifl vergi alaca¤›
Deferred tax assets
Di¤er duran varl›klar
Other non-current assets
Duran varl›klar toplam›
Total non-current assets
Stoklar
Inventories
Ticari alacaklar
Trade receivables
Di¤er dönen varl›klar
Other current assets
Yat›r›mlar
Investments
Nakit ve nakit benzeri de¤erler
Cash and cash equivalents
Toplam dönen varl›klar
Total current assets
Toplam varl›klar
Total assets
Borçlar ve Özsermaye
Equity and liabilities
Sermaye
Issued capital
Emisyon primi
Share premium
Yasal yedekler
Legal reserves
Geçmifl y›llar zararlar›
Accumulated losses
Cari y›l kar› / (zarar›)
Current year profit / (loss)
Toplam sermaye ve yedekler
Total capital and reserves
Borçlar
Liabilities
Banka kredileri
Interest-bearing loans and borrowings
K›dem tazminat› karfl›l›¤›
Severance pay liability
Ertelenmifl vergi borcu
Deferred tax liabilities
Di¤er uzun vadeli borçlar
Other non-current liabilities
Toplam uzun vadeli borçlar
Total non-current liabilities
Banka kredileri
Interest-bearing loans and borrowings
Ticari borçlar
Trade payables
Di¤er k›sa vadeli borçlar ve gider karfl›l›klar›
Other current liabilities and accrued expenses
Toplam k›sa vadeli borçlar
Total current liabilities
Toplam borçlar ve özsermaye
Total equity and liabilities
‹liflikteki notlar bu mali tablolar›n tamamlay›c› parças›d›r.
The accompanying notes are an integral part of these statements.
Not / Note
2002
2001
7
55,694,243
90,140,881
8
13,864,656
17,889,242
9
81,292,169
90,788,593
11
9,899
9,899
13
2,655,610
2,729,913
10
3,532,761
3,145,369
157,049,338
204,703,897
12
12,888,736
18,048,270
14
55,123,688
38,358,298
14
5,240,132
5,108,722
16
4,840,530
-
15
8,239,328
35,608,598
86,332,414
97,123,888
243,381,752
301,827,785
75,250,011
75,250,011
66,717,104
66,717,104
1,394,304
1,824,306
(72,574,630)
(40,476,265)
16,685,415
(32,528,367)
87,472,204
70,786,789
19
65,360,404
74,992,421
20
1,003,543
352,250
13
119,675
127,184
21
2,486,292
2,363,648
68,969,914
77,835,503
19
62,819,863
128,042,187
22
15,222,939
14,532,813
22
8,896,832
10,630,493
86,939,634
153,205,493
243,381,752
301,827,785
17
49
Turcas Petrol A.fi. ve Ba¤l› Kuruluflu 31 Aral›k 2002 tarihi itibariyle sona eren y›la ait Konsolide Nakit Ak›m Tablosu
Bakiyeler UMS 29 uyar›nca ve enflasyon etkilerini yans›tacak flekilde Türk Liras›’n›n 31 Aral›k 2002 tarihindeki sat›nalma gücü cinsinden milyon TL olarak ifade edilmifltir.
Turcas Petrol A.fi. and its Subsidiary Consolidated Statement of Cash Flows For the year ended 31 December 2002
In millions of TL as adjusted for the effects of inflation in TL units current at 31 December 2002 pursuant to IAS 29.
Faaliyetler / Operating activities
Net dönem kar› / (zarar›) / Net profit / (loss) for the year
Yap›lan düzeltme kay›tlar›:/Adjustments for:
Amortisman ve itfa giderleri / Depreciation and amortisation
Gemiler de¤er düflüfl karfl›l›¤› / Allowance on impairment of vessels
Gemiler de¤er düflüfl karfl›l›¤›n›n cari y›lda ters çevrilmesi / Reversal of impairment of vessels
Sabit k›ymet sat›fl zararlar› / Loss on sale of property, plant and equipment
Sabit k›ymet sat›fl karlar› / Gain on sale of property, plant and equipment
fierefiyenin itfas› / Amortisation of goodwill
Faiz (geliri) / gideri / Interest (income) / expense
Ertelenmifl vergi / Deferred taxation
K›dem tazminat› karfl›l›¤› / Provision for retirement pay
‹flletme sermayesindeki de¤iflim öncesi faaliyet kar› / (zarar›) / Operating profit / (loss) before changes in working capital
Di¤er duran varl›klardaki azal›fl / (art›fl) / Decrease / (increase) in other non-current assets
Stoklardaki azal›fl / Decrease in inventory
K›sa vadeli ticari alacaklardaki azal›fl / (art›fl) / Decrease / (increase) in short-term trade receivables
Di¤er dönen varl›klarda azal›fl / (art›fl)/Decrease / (increase) in other current assets
Di¤er uzun vadeli borçlardaki azal›fl / (art›fl)/Increase / (decrease) in other non-current liabilities
Ödenecek gelir vergisindeki azal›fl / Decrease in income tax payable
K›sa vadeli ticari borçlardaki art›fl / (azal›fl) / Increase / (decrease) in short-term trade payables
Di¤er k›sa vadeli borçlardaki art›fl / (azal›fl) / Increase / (decrase) in other current liabilities
Faaliyetlerden kaynaklanan nakit ak›m› / Cash flows from operating activities
Yat›r›m ifllemleri / Investing activities
Maddi duran varl›k sat›fllar›ndan sa¤lanan nakit / Proceeds from sale of property plant and equipment
Maddi duran varl›k al›mlar› / Acquisition of property plant and equipment
Maddi olmayan duran varl›k sat›fllar› / Proceeds from intangibles
Maddi olmayan duran varl›k al›mlar› / Acquisition of intangibles
Yat›r›mlardaki art›fl / Acquisition of investments
Yat›r›m ifllemlerinden kaynaklanan nakit ak›m› / Cash flows from investing activities
Finansman faaliyetleri / Financing activities
Sermaye art›fl› / Increase in share capital
Hisse senedi ihraç primi art›fl› / Increase in share premium
K›sa vadeli banka kredilerinin geri ödemesi / Repayment of short-term interest bearing loans and borrowings
K›sa vadeli banka kredilerindeki art›fl / Increase in short-term interest bearing loans and borrowings
Finansman ifllemlerinden kaynaklanan nakit ak›m› / Cash flows from financing activities
Nakit ve benzeri de¤erlerdeki net art›fl / (azal›fl) / Net increase / (decrease) in cash and cash equivalents
Enflasyon endeksindeki de¤iflimin etkisi / Effect of changes in index
1 Ocak itibariyle nakit ve benzeri de¤erler / Cash and cash equivalents at 1 January
31 Aral›k itibariyle nakit ve benzeri de¤erler / Cash and cash equivalents at 31 December
‹liflikteki notlar bu mali tablolar›n tamamlay›c› parças›d›r.
The accompanying notes are an integral part of these statements.
2002
2001
16,685,415
(32,528,367)
14,628,070
(5,740,303)
1,796,604
(51,733)
9,496,424
470,705
616,022
828,551
38,729,755
(67,516)
5,159,533
(17,423,847)
(247,757)
122,644
690,125
(1,733,660)
(13,500,478)
14,382,907
5,740,303
174,395
(17,338)
9,496,424
(902,413)
(8,743,010)
74,810
(12,322,289)
2,768,318
12,665,429
5,142,312
285,293
(9,377)
(282,566)
(28,428,289)
150,941
(7,707,939)
31,360,212
(4,367,590)
(145,980)
(4,840,530)
22,006,112
68,932
(6,223,295)
17,111
(6,137,252)
(88,484,802)
13,630,460
(74,854,342)
(27,618,953)
249,684
35,608,597
8,239,328
26,935,219
1,188,898
(37,722,949)
48,753,629
39,154,797
12,987,317
(3,383,203)
26,004,484
35,608,598
Turcas Petrol Anonim fiirketi ve Ba¤l› Kuruluflu
Turcas Petrol Anonim fiirketi and its Subsidiary
31 Aral›k 2002
Konsolide Mali Tablolar› Tamamlay›c› Notlar
Notes to Consolidated Financial Statements
December 31, 2002
(Bakiyeler UMS 29 uyar›nca ve enflasyon etkilerini yans›tacak flekilde Türk Liras›’n›n
31 Aral›k 2002 tarihindeki sat›nalma gücü cinsinden milyon TL olarak ifade edilmifltir.)
(In millions of TL as adjusted for the effects of inflation in TL units current at
31 December 2002 pursuant to IAS 29.)
Faaliyetler ve Tarihçe
Turcas Petrolcülük A.fi., 1988 y›l›nda Türkpetrol Holding ve Burmah-Castrol
taraf›ndan kurulmufltur.
Principal activities and history
Turcas Petrolcülük A.fi. was established in 1988 by Türkpetrol Holding and
Burmah-Castrol.
1996 y›l›nda Tabafl Petrolcülük A.fi. (Tabafl), Turcas Petrolcülük A.fi.’ye ait herbiri
bin TL de¤erinde 1,677,946 hisseyi 139,681,436 ABD Dolar› ödeyerek sat›n alm›fl,
ve Turcas Petrolcülük A.fi.’nin %82.16’s›na sahip olmufltur.
In 1996 Tabafl Petrolcülük A.fi. (Tabafl) purchased 1,677,946 shares in Turcas
Petrolcülük A.fi. of one thousand TL nominal value each, for USD 139,681,436,
resulting in an ownership of 82.16%.
Tabafl’›n ticari ünvan› 30 Eylül 1999 tarihinde Turcas Petrolcülük A.fi. ile birleflme
neticesinde Turcas Petrol A.fi. (fiirket) olarak de¤ifltirilmifltir.
After the merger with Turcas Petrolcülük A.fi. on 30 September 1999, commercial title
of Tabafl was changed to Turcas Petrol A.fi. (the Company).
fiirket’in faaliyet konusu, her türlü petrol ve petrol ürünlerinin al›m›, sat›m›, ihrac›,
ithali ve da¤›t›m›d›r.
The Company is engaged in purchasing, selling, importing, exporting, and distributing all
kinds of fuel products and lubricants.
fiirket’in ba¤l› kuruluflu olan Marmara Petrol ve Rafineri ‹flleri A.fi.’nin (Marmara)
faaliyet konusu ham petrol ithalat› ve ifllenmesidir.
The subsidiary of the Company, Marmara Petrol ve Rafineri ‹flleri A.fi. (Marmara), is
engaged in importing and processing crude oil.
Önemli Muhasebe ‹lkeleri
‹liflikteki konsolide mali tablolarda uygulanan önemli muhasebe ilkeleri afla¤›da
özetlenmifltir.
Significant accounting policies
The significant accounting policies followed in the accompanying consolidated financial
statements are summarized below.
(a) Uygunluk beyan›
fiirket muhasebe kay›tlar›n› Tek Düzen Hesap Plan›, Türk Ticaret Kanunu (TTK) ve
Türk Vergi Kanunlar›na uygun olarak Türk Liras› cinsinden tutmakta ve yasal mali
tablolar›n› da buna uygun olarak haz›rlamaktad›r.
(a) Statement of compliance
The Company maintains its books of account and prepares their statutory financial
statements in Turkish Lira in accordance with the Turkish Uniform Chart of Accounts,
the Turkish Commercial Code (the “TCC”) and tax legislation (collectively, “Turkish
Practices”).
‹liflikteki mali tablolar (UMS Mali Tablolar›), tarihi maliyet esas› baz al›narak yap›lan
yasal kay›tlar›n (maddi duran varl›klar üzerindeki yeniden de¤erleme hariç), mali
tablolar›n gerçe¤i yans›tmas› ilkesi do¤rultusunda, Türk Liras›’n›n sat›n alma gücünde
meydana gelen de¤iflikliklerin yeniden ifade edilmesi de dahil Uluslararas› Muhasebe
Standartlar› Heyeti taraf›ndan benimsenen Uluslararas› Finansal Raporlama
Standartlar›’na (UFRS) ve Uluslararas› Finansal Raporlama Yorum Komitesi
(UFRYK) taraf›ndan yay›mlanan aç›klamalara uygun olarak baz› tashih ve tasniflere
tabi tutulmalar›yla haz›rlanm›flt›r.
Muhasebe ilkeleri flirket taraf›ndan sürekli olarak uygulanmakta ve daha önceki
y›llarda uygulanan muhasebe ilkeleri ile tutarl›l›k göstermektedir.
(b) Mali tablolar›n haz›rlan›fl flekli
Finansal tablolar, Türk Liras› olarak, UMS 29 “Yüksek Enflasyonlu Ekonomilerde
Finansal Raporlama” uyar›nca ve 31 Aral›k 2002 tarihinde TL üzerindeki enflasyon
etkilerini yans›tacak flekilde en yak›n milyona yuvarlanarak ifade edilmifllerdir.
Turcas Petrolcülük A.fi.’nin Tabafl taraf›ndan sat›n al›nmas› muhasebelefltirilirken
sat›nalma metodu kullan›lm›flt›r. Sat›n alma sonucunda elde edilen aktif ve pasifler,
sat›n alma iflleminin gerçekleflti¤i tarihteki gerçek de¤erleri kullan›larak mali tablolara
yans›t›lm›flt›r.
31 Aral›k 2002 ve 2001 tarihli iliflikteki konsolide mali tablolar fiirket ve Marmara’y›
içermektedir. Bütün flirketler aras› bakiyeler ve ifllemler karfl›l›kl› silinmifltir.
(c) Yüksek enflasyonlu ülkelerde muhasebe
fiirket’in mali tablolar› UMS 29 “Yüksek Enflasyonlu Ekonomilerde Finansal
Raporlama” uyar›nca yüksek enflasyonun etkilerini yans›tacak flekilde yeniden ifade
edilmifltir. UMS 29, yüksek enflasyonun mevcut oldu¤u ülkelerin para birimleriyle
haz›rlanan mali tablolar›n bilanço tarihinde geçerli olan paran›n sat›n alma gücünü
yans›tacak flekilde düzenlenmesini ve geçmifl senelerle ilgili mukayeseli hesap
bakiyelerinin de bu esasa göre düzeltilmesini gerekli k›lmaktad›r.
UMS 29'un uygulanmas›n› gerektiren durum, son üç y›ll›k kümülatif enflasyon
oran›n›n %100'e yaklafl›yor veya geçiyor olmas›d›r. Yüksek enflasyonun etkilerinin
hesaplanmas›, Devlet ‹statistik Enstitüsü (D‹E) taraf›ndan ayl›k olarak yay›mlanan
toptan eflya fiyat endeksi (TEFE) ve buna ba¤l› olarak elde edilen çevirme
katsay›lar› kullan›larak yap›lmaktad›r. 31 Aral›k 2002, 2001 ve 2000 tarihli mali
tablolar›n yeniden ifade edilmesinde, afla¤›da belirtilen endeksler ve katsay›lar
kullan›lm›flt›r:
Tarih
31 Aral›k 2002
31 Aral›k 2001
31 Aral›k 2000
Endeks
6,478.8
4,951.7
2,626.0
Çevirme Katsay›s›
1.000
1.308
2.467
The accompanying financial statements (the IAS Financial Statements) are based on
the statutory records, which are maintained under the historical cost convention,
(except for the statutory revaluation of property plant and equipment) with
adjustments and reclassifications including restatement for the changes in the general
purchasing power of the Turkish Lira, for the purpose of fair presentation in accordance
with International Financial Reporting Standards (“IFRS”) as promulgated by the
International Accounting Standards Board (“IASB”), and interpretations issued by the
International Financial Reporting Interpretations Committee (“IFRIC”) of the IASB.
The accounting policies have been consistently applied by the Company, and are
consistent with those used in the previous year.
(b) Basis of preparation
The financial statements are presented in Turkish Lira, rounded to the nearest million
as adjusted for the effects of inflation in TL units current at 31 December 2002,
pursuant to IAS 29 “Financial Reporting in Hyperinflationary Economies”.
The acquisition of Turcas Petrolcülük A.fi. by Tabafl is accounted for by using the
purchase method of accounting. The assets and liabilities recognized as a result of the
purchase are measured at the fair value of identifiable assets and liabilities acquired as
at the date of the exchange transaction.
The accompanying consolidated financial statements as of 31 December 2002 and
2001 include the Company and Marmara on a line by line basis. All intercompany
balances and transactions are eliminated.
(c) Accounting in hyperinflationaty economies
Financial statements of the Company were restated for the changes in the general
purchasing power of the Turkish Lira based on IAS 29 “Financial Reporting in
Hyperinflationary Economies”. IAS 29 requires that financial statements prepared in
the currency of a hyperinflationary economy be stated in terms of the measuring unit
current at the balance sheet date, and that corresponding figures for previous periods
be restated in the same terms.
One characteristic that necessitates the application of IAS 29 is a cumulative
three-year inflation rate approaching or exceeding 100%. The restatement was
calculated by means of conversion factors derived from the Turkish countrywide
wholesale price index (“WPI”) published by the State Institute of Statistics (“SIS”). Such
indices and conversion factors used to restate the accompanying financial statements
at 31 December 2002, 2001 and 2000 are given below:
Date
31 December 2002
31 December 2001
31 December 2000
Index
6,478.8
4,951.7
2,626.0
Conversion factor
1.000
1.308
2.467
51
‹liflikteki mali tablolar›n yeniden ifade edilmesinde uygulanan temel ilkeler afla¤›daki
paragraflarda özetlenmifltir:
• Yüksek enflasyonlu ekonomiye sahip bir ülkenin para birimiyle haz›rlanan mali
tablolar, bilanço tarihinde oluflan de¤erleriyle ifade edilirler ve buna ba¤l› olarak
önceki dönemlerdeki benzer figürler de ayn› flekilde yeniden ifade edilirler.
• Parasal aktif ve pasif kalemler bilanço tarihindeki defter de¤erlerini yans›tt›klar›
için yeniden de¤erlendirilmemifllerdir.
• De¤erlerini bilanço tarihine tafl›mayan parasal olmayan aktif ve pasifler ve
özsermaye bileflenleri, geçerli olan de¤iflim faktörleri ile (ayl›k, y›ll›k ortalama, y›l
sonu) yeniden ifade edilirler. Sabit k›ymetlere girifller, girifl tarihleri gözönüne
al›narak ilgili katsay› ile yeniden ifade edilirler.
• Kar ve zarar hesaplar›ndaki, endekslenmifl de¤erler üzerinden tekrar hesaplanan
parasal olmayan kalemler hariç tüm kalemler, geçerli de¤iflim faktörleri ile
endekslenerek yeniden ifade edilirler.
• Enflasyonun flirketin net parasal pozisyonundaki etkisi, konsolide gelir tablosunda
“Parasal pozisyon zarar›” olarak yer almaktad›r.
(d) ‹fltirakler ve ba¤l› ortakl›klar
‹fltirakler ve ba¤l› ortakl›klar enflasyonun etkisi göz önüne al›narak yeniden ifade
edilen maliyet tutarlar› ile yans›t›lm›fl ve gerekli oldu¤u durumlarda de¤er
düflüklükleri yans›t›larak azalt›lm›fllard›r.
fiirket’in önemli bir etkiye sahip oldu¤u fakat finansal ve operasyonel faaliyetleri
üzerinde herhangi bir kontrola sahip olmad›¤› ifltirakler ve ba¤l› ortakl›klar bu
etkilerin bafllad›¤› tarih ile etkilerin bitifl tarihi aras›nda özsermaye esas›na göre
muhasebelefltirilir. Konsolide mali tablolar, fiirket’in pay›na düflen ve özsermaye
esas›na göre muhasebelefltirilmifl olan ifltirak gelir ve giderlerini içermektedir.
(e) Yabanc› para cinsinden yap›lan ifllemler
Yabanc› para cinsi ifllemler, ifllem tarihindeki yabanc› para kuru ile Türk Liras›’na
çevrilmektedir. Yabanc› para parasal varl›klar ve borçlar geçerli kur üzerinden
dönem sonunda Türk Liras›’na çevrilmektedirler. Bu tip ifllemlerden kaynaklanan
kur farklar› konsolide gelir tablosuna yans›t›lmaktad›r. Gerçek de¤erden yans›t›lm›fl
parasal olmayan yabanc› para aktif ve pasifler, de¤erlerin belirlenmifl oldu¤u tarihin
kuru ile Türk Liras›’na çevrilmektedir.
(f) Finansal enstrümanlar
(i) S›n›fland›rma
fiirket taraf›ndan verilmifl kredi ve alacaklar k›sa vadeli kar amac› gütmeksizin borçlu
tarafa verilmifl kredilerdir. ‹lgili krediler ve alacaklar istasyon sahiplerine kulland›r›lan
kredileri içermektedir. Banka kredileri ticari amaçl› olmayan finansal borçlar olarak
s›n›fland›r›lm›flt›r. Hazine bonolar›n› da bünyesinde bulunduran yat›r›mlar ise sat›fla
haz›r finansal varl›klar olarak s›n›fland›r›lm›flt›r.
(ii) Muhasebelefltirme
Finansal varl›klar fiirket’e transfer olduklar› gün, finansal borçlar da fiirket’den
transfer olduklar› gün muhasebelefltirilirler.
(iii) De¤erleme
Finansal enstrümanlar ifllem maliyetleri dahil olmak üzere maliyet üzerinden
de¤erlenir.
‹lk kayd›n ard›ndan, belirli bir piyasa de¤eri olmayan ve fiyat› ölçülemeyen finansal
enstrümanlar, ifllem maliyetleri dahil edilmek ve de¤er düflüklü¤ü karfl›l›¤› ayr›lmak
suretiyle maliyet de¤erleriyle kaydedilir. Bunlar d›fl›nda tüm ticari enstrümanlar ve
tüm sat›fla haz›r varl›klar piyasa de¤erleriyle ölçülür.
Ticari olmayan bütün finansal borçlar, krediler, alacaklar ve vadeye kadar elde
tutulacak varl›klar de¤er düflüklü¤ü karfl›l›¤› ayr›ld›ktan sonra amorte edilmifl maliyet
de¤erinden de¤erlenir. Amortize maliyet efektif faiz oran› metoduyla hesaplan›r.
Primler ve iskontolar ilk ifllem maliyetleri dahil olmak üzere ilgili finansal
enstrüman›n maliyetine dahil edilir ve efektif faiz oran›yla amorte edilir.
The main procedures for the application of IAS 29 are as follows:
• Financial statements prepared in the currency of a hyperinflationary economy are
stated in terms of the monetary unit current at the balance sheet date, and
corresponding figures for previous periods are restated in the same terms.
• Monetary assets and liabilities, which are carried at amounts current at the balance
sheet date are not restated because they are already expressed in terms of the
monetary unit current at the balance sheet date.
• Non-monetary assets and liabilities that are not carried at amounts current at the
balance sheet date, and components of shareholders’ equity are restated by applying
the relevant (monthly, yearly average, year end) conversion factors. Additions to
tangible assets in the year of acquisition are restated using the relevant conversion
factors.
• All items in the profit and loss accounts, except for those deriving from non-monetary
items, which are calculated on the restated values of related items, are restated by
applying the relevant conversion factors.
• The effect of general inflation on the Company’s net monetary position is included in
the consolidated statement of operations as “Monetary loss”.
(d) Investments in associates
Investments in associates are reflected at restated cost amounts for the effect of
inflation and reduced where necessary to reflect permanent impairments in value.
Investments in associates in which the Company has significant influence, but not
control over the financial and operating policies are accounted on an equity basis from
the date that significant influence effectively commences until the date that significant
influence effectively ceases. The consolidated financial statements include Company’s
share of the total recognized gains and losses of associates on an equity accounted
basis.
(e) Foreign currency transactions
Transactions in foreign currencies are translated to TL at the foreign exchange rate
ruling at the date of the transaction. Monetary assets and liabilities denominated in
foreign currencies at the balance sheet date are translated to TL at the foreign
exchange rate ruling at that date. Foreign exchange differences arising on translation
are recognized in the consolidated statement of operations. Non-monetary assets and
liabilities denominated in foreign currencies that are stated at fair value are translated
to Turkish Lira at foreign exchange rates ruling at the dates the values were determined.
(f) Financial Instruments
(i) Classification
Originated loans and receivables are loans and receivables created by the Company
providing money to a debtor other than those created with the intention of short term
profit taking. Originated loans and receivables comprise loans given to station owners.
Interest-bearing loans and borrowings are classified as non-trading financial liabilities.
Investments involving treasury bills are classified as financial assets available for sale.
(ii) Recognition
Financial assets are recognized on the day they are transferred to the Company.
Financial liabilities are recognized on the day they are transferred from the Company.
(iii) Measurement
Financial instruments are measured initially at cost, including transaction costs.
Subsequent to initial recognition, all trading instruments and all available for sale assets
are measured at fair value, except that any instruments which does not have a quoted
market price in an active market, and whose fair value cannot be reliably measured is
stated at cost, including transaction costs, less impairment losses.
All non-trading financial liabilities, originated loans and receivables and held-to-maturity
assets are measured at amortised cost less impairment losses. Amortised cost is
calculated on the effective interest rate method. Premiums and discounts, including
initial transaction costs, are included in the carrying amount of the related instrument
and amortised based on the effective interest rate of the instrument.
(iv) Gerçek de¤er ölçme prensipleri
Finansal enstrümanlar›n gerçek de¤eri bilanço tarihindeki ifllem maliyetleri
düflülmemifl piyasa de¤erleri baz al›narak bulunur. E¤er belirli bir piyasa de¤eri
yoksa, gerçek de¤er fiyatland›rma modelleri veya indirgenmifl nakit ak›m teknikleri
kullan›larak bulunur.
(iv) Fair value measurement principles
The fair value of financial instruments is based on their quoted market price at the
balance sheet date without any deduction for transaction costs. If a quoted market
price is not available, the fair value of the instrument is estimated using pricing models
or discounted cash flow techniques.
‹ndirgenmifl nakit ak›m teknikleri kullan›ld›¤›nda, nakit ak›mlar›, yönetimin
tahminlerine dayanmakta ve iskonto oran› da bilanço tarihindeki benzer vadelere
ve koflullara sahip bir enstrüman için geçerli olan piyasa oran›na dayanmaktad›r.
Fiyatland›rma modellerinde piyasadaki bilanço tarihinde geçerli olan ölçüler
kullan›l›r.
Where discounted cash flow techniques are used, estimated future cash flows are
based on management’s best estimates, and the discount rate is a market related rate
at the balance sheet date for an instrument with similar terms and conditions. Where
pricing models are used, inputs are based on market related measures at the balance
sheet date.
(v) Muhasebe kay›tlar›ndan ç›karma
Finansal varl›klar, fiirket bu varl›klar üzerindeki sözleflmeye ba¤l› haklar›n› kaybetti¤i
zaman muhasebe kay›tlar›ndan ç›kar›l›r. Bu olay finansal varl›klar sat›ld›¤›, süresi
doldu¤u veya haklar›ndan feragat edildikleri zaman gerçekleflir. Finansal borçlar,
yükümlülük yerine getirildi¤i, iptal edildi¤i veya süresi doldu¤unda kay›tlardan
ç›kar›l›r.
(v) Derecognition
A financial asset is derecognised when the Company loses control over the contractual
rights that comprise that asset. This occurs when the rights are realised, expire or are
surrendered. A financial liability is derecognised when it is extinguished.
fiirket taraf›ndan verilmifl krediler ve alacaklar karfl› tarafa transfer olduklar› gün
kay›tlardan ç›kar›l›r.
(g) Maddi duran varl›klar
(i) fiirket’in sabit k›ymetleri
Sabit k›ymetler, yeniden ifade edilmifl tutarlar›ndan birikmifl amortismanlar›
düflülerek bilanço tarihindeki sat›n alma gücü cinsinden ifade edilmifllerdir.
(ii) Finansal kiralama yoluyla elde edilen sabit k›ymetler
Finansal kiralama sözleflmesi alt›nda, sahiplikle ilgili tüm risklerin ve faydalar›n
kirac›ya ait oldu¤u sabit k›ymet transferleri finansal kiralama ifllemleridir. Finansal
kiralama yoluyla elde edilen sabit k›ymetler, bilançoda, kira sözleflmesinin
bafllang›c›ndaki minimum kira alacaklar›n›n flimdiki de¤eri tutar›nda bir aktif ve pasif
kalemi kaydedilerek gösterilir. Bu flekilde aktiflefltirilmifl olan varl›klar fiirket’in
amortisman politikas›na göre amortismana tabi tutulurlar. Finansal kiralamadan
do¤an borçlar anaparan›n ödenmesiyle azal›rken, faiz ödemeleri direkt olarak gelir
tablosunda yans›t›l›r.
(iii) Amortisman
Sabit k›ymetler üzerindeki amortismanlar, tahmini ekonomik ömürleri üzerinden,
sat›n alma ve kullan›ma haz›r hale getirme tarihleri esas al›narak normal amortisman
yöntemi kullan›larak ayr›lmaktad›r. Özel maliyetler üzerindeki amortismanlar, ilgili
kiralama iflleminin süresi esas al›nmak suretiyle normal amortisman yöntemi
kullan›larak ayr›lmaktad›r. Arazi amortismana tabi de¤ildir. Sabit k›ymetlerin tahmini
ekonomik ömürleri afla¤›daki gibidir:
binalar
makina, tesis ve cihazlar
yerüstü ve yeralt› düzenleri
tafl›tlar
gemiler
döfleme ve demirbafllar
özel maliyetler
50
5 - 10
5 - 10
5
15
5 - 10
5
y›l
y›l
y›l
y›l
y›l
y›l
y›l
(h) Maddi olmayan duran varl›klar
Maddi olmayan duran varl›klar marka kullanma haklar›n› ve di¤er haklar› içermektedir
ve parasal olarak düzeltilmifl maliyetlerinden ilgili birikmifl amortismanlar›n düflülmesi
sonucunda oluflan de¤erleri ile gösterilirler.
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›rlar. Bu varl›klar›n tahmini ekonomik ömürleri on y›ld›r.
(i) fierefiye
fierefiye, al›fl tarihlerinde ba¤l› flirketlerin hisselerinin elde etme maliyetinin, bu
flirketlerin net aktif toplam›n› aflan k›sm›d›r. fierefiye, bilançoda parasal olarak
düzeltilmifl maliyetinden birikmifl amortisman› düflülmüfl olarak gösterilmektedir ve
normal amortisman yöntemiyle onbefl y›ll›k bir ekonomik ömür esas al›narak
konsolide gelir tablosuna yans›t›lacakt›r.
Originated loans and receivables are derecognised on the day they are transferred by
the Company.
(g) Property, plant and equipment
(i) Owned assets
Property, plant and equipment are carried at restated amounts, less accumulated
depreciation, in terms of the equivalent purchasing power current at at balance sheet
date.
(ii) Leased assets
Leases in terms of which the Company assumes substantially all the risks and rewards
of ownership are classified as finance leases. Plant and equipment acquired by way of
finance lease is stated at an amount equal to the lower of its fair value and the
present value of the minimum lease payments at inception of the lease, less
accumulated depreciation. Lease liabilities are reduced by repayments of principal
while the finance charge component of the lease payment is charged directly to
income.
(iii) Depreciation
The property, plant and equipment is depreciated over the estimated useful lives of
the related assets from the date of purchase or the date of installation, and on a
straight-line basis. Leasehold improvements are amortised over the periods of the
respective leases, on a straight-line basis. Land is not depreciated. The estimated useful
lives are as follows:
buildings
plant and equipment
land improvements
motor vehicles
vessels
furniture and others
leasehold improvements
50
5 - 10
5 - 10
5
15
5 - 10
5
years
years
years
years
years
years
years
(h) Intangible assets
Intangible assets represent trade names and rights and are stated at monetarily
corrected cost less accumulated amortisation.
Amortisation is charged to the statement of operations on a straight-line basis over the
estimated useful lives of intangible assets. The estimated useful lives are ten years.
(i) Goodwill
Goodwill arising on acquisition of subsidiaries represents the excess of the cost of the
acquisition over the Company’s interest in the fair value of the net identifiable assets
acquired. Goodwill is reflected in the balance sheets at monetarily corrected cost less
accumulated amortisation and is amortised on a straight-line basis over 15 years, the
time during which benefits are expected to be consumed.
53
(j) De¤er düflüklü¤ü
fiirket’in varl›klar›n›n defter de¤erinde herhangi bir de¤er düflüklü¤ü göstergesi olup
olmad›¤› bilanço tarihleri itibariyle incelenir. E¤er herhangi bir gösterge olursa,
varl›klar›n yerine koyma maliyeti tahmin edilir. Varl›klar›n defter de¤eri, yerine
koyma maliyetini geçerse de¤er düflüklü¤ü meydana gelir. Yerine koyma maliyeti,
net sat›fl fiyat›n›n ve kullan›m de¤erinin yüksek olan›d›r. Bir varl›¤›n kullan›m
de¤erinin belirlenmesinde fiirket bugünkü pazar de¤erini yans›tan iskonto oran›n› ve
varl›¤a özgü riskleri kullanmaktad›r. De¤er düflüklü¤ü tutarlar› konsolide gelir
tablosunda dikkate al›nm›flt›r.
(k) Stoklar
Stoklar parasal olarak düzeltilmifl maliyetleri ve net gerçekleflebilir de¤erlerinin
düflük olan›yla gösterilirler. Net gerçekleflebilir de¤er, stoklar›n tahmini sat›fl
fiyatlar›ndan tahmini tamamlama ve sat›fl giderleri düflüldükten sonra kalan k›s›md›r.
Stoklar a¤›rl›kl› ortalama maliyet yöntemi kullan›larak de¤erlendirilmektedir ve
maliyet tutar› ilgili stoklar›n elde edilmesi ve olmalar› gereken yere ve konuma
getirilmeleri sürecinde oluflan giderleri de kapsamaktad›r.
(l) Nakit ve nakit benzeri de¤erler
Nakit ve nakit benzeri de¤erler kasa, bankalar ve repo anlaflmas› ile al›nan hazine
bonolar›n› içermektedir.
(m) fiirket taraf›ndan verilen krediler ve alacaklar
fiirket taraf›ndan verilen kredi ve alacaklar sat›fl amaçl› olmayan, istasyon sahiplerine
para, mal ve servis sa¤lamak için verilmifl finansal varl›klard›r.
(n) Banka kredileri
Banka kredileri ifllem maliyetleri net edilmifl olarak maliyetten de¤erlenir. ‹lk kayd›
müteakiben banka kredileri maliyet ile geri alma de¤eri aras›ndaki fark üzerinden
ilgili banka kredisinin kullan›m süresi boyunca amorte edilir ve konsolide gelir
tablosuna yans›t›l›r.
(o) K›dem tazminat› karfl›l›¤›
Türkiye’deki mevcut ifl kanunu gere¤ince, flirket emeklilik nedeniyle iflten ayr›lan
veya istifa ve kötü davran›fl d›fl›ndaki nedenlerle ifline son verilen personele
belirlenen miktarda ödeme yapmakla yükümlüdür. K›dem tazminat karfl›l›¤›, k›dem
tazminat tavan› dikkate al›narak belirli bir formüle göre hesaplan›r ve mali tablolara
yans›t›l›r. K›dem tazminat karfl›l›¤›, bilanço tarihi itibariyle tüm çal›flanlar bu tür bir
ödemeye tabi tutulacakm›fl gibi hesaplanm›flt›r.
(p) Karfl›l›klar
Bir karfl›l›¤›n bilançoda gösterilebilmesi için, fiirket’in geçmiflten gelen bir yasal veya
taahhüte ba¤l› yükümlülü¤ünün olmas›, ve ekonomik bir kazanç ç›k›fl›n›n bu
yükümlülü¤ün yerine getirilmesi için muhtemel olmas› gerekmektedir. E¤er etkisi
önemli ise, provizyonlar mümkünse borçla ilgili riskler de gözönünde
bulundurularak tahmini nakit ak›fl›n›n iskonto edilmesiyle belirlenir.
(q) Gelir ve maliyetlerin kaydedilmesi
(i) Sat›lan mallar
Sat›lan mallarla ilgili elde edilen gelirler, mülkiyetle ilgili önemli risk veya getiriler
al›c›ya geçti¤i tarihten itibaren gelir tablosunda gösterilirler. E¤er sat›lan mala iliflkin
maliyetlerin karfl›lanamayaca¤› veya mal›n geri iadesi konusunda önemli belirsizlikler
varsa konsolide gelir tablosunda bu sat›fl ifllemiyle ilgili herhangi bir gelir kaydedilmez.
(ii) Faaliyet giderleri
Sat›fllar›n maliyeti, a¤›rl›kl› ortalama maliyet yöntemi kullan›larak belirlenmektedir.
Maliyetler, sat›n alma ile ilgili tüm giderleri, dönüfltürme maliyetlerini ve mallar›
bulunduklar› yere ve konuma getirmek için oluflan giderleri içermektedir. Pazarlama
sat›fl ve genel yönetim giderleri olufltuklar› anda giderlefltirilirler.
(iii) Finansman geliri/(gideri)
Finansman gelir/(gideri), gelir tablosunda dikkate al›nan kredi ve finansal kiralama
yükümlülü¤ü üzerindeki faiz ödemesini, mevduat ve menkul k›ymet faizlerini,
iskonto edilmifl alacak ve borçlarla ilgili gelir ve giderleri içermektedir.
(j) Impairment
The carrying amounts of the Company’s assets are reviewed at each balance sheet
date to determine whether there is any indication of impairment. If any such indication
exists, the asset’s recoverable amount is estimated. An impairment loss is recognised
whenever the carrying amount of an asset or its cash-generating unit exceeds its
recoverable amount. Recoverable amount is measured as the higher of net selling price
and value in use. In determining an asset’s value in use, the Company uses, among
other things, a discount rate that reflects current market assessments of time value of
money and the risks specific to the asset. Impairment losses are recognised in the
statement of operations.
(k) Inventories
Inventories are stated at the lower of monetarily corrected cost and net realisable
value. Net realisable value is the estimated selling price in the ordinary course of
business, less the estimated costs of completion and selling expenses.
The cost of inventories is based on the weighted average principle and includes
expenditure incurred in acquiring the inventories and bringing them to their existing
location and condition.
(l) Cash and cash equivalents
Cash and cash equivalents comprise cash balances on hand, cash deposited at banks,
treasury bills obtained through repurchase agreements.
(m) Loan and receivables originated by the enterprise
Loans and receivables originated by the enterprise are financial assets that are created
by the Company by providing money, goods or services to station owners, other than
those that are originated with the intent to be sold immediately or in the short-term.
(n) Interest-bearing borrowings
Interest-bearing borrowings are recognized initially at cost, net of any transaction costs
incurred. Subsequent to initial recognition, interest-bearing borrowings are stated at
amortised cost with any difference between cost and redemption value being
recognized in the statement of operations over the period of the borrowings.
(o) Severance pay liability
In accordance with the existing social legislation in Turkey, the Company is required to
make certain lump-sum payments to employees whose employment is terminated due
to retirement or for reasons other than resignation or misconduct. Such payments are
calculated on the basis of an agreed formula, are subject to certain upper limits and
are recognized in the accompanying consolidated financial statements as accrued. The
reserve has been calculated by estimating the present value of the future obligation of
the Company that may arise from the retirement of the employees.
(p) Provisions
A provision is recognized in the balance sheet when the Company has a legal or
constructive obligation as a result of a past event, and it is probable that an outflow of
economic benefits will be required to settle the obligation. If the effect is material,
provisions are determined by discounting the expected future cash flows at a pre-tax
rate that reflects current market assessments of the time value of money and, where
appropriate, the risks specific to the liability.
(q) Revenue and expense recognition
(i) Goods sold
Revenue from the sale of goods is recognized in the statement of operations when the
significant risks and rewards of ownership have been transferred to the buyer. No
revenue is recognized if there are significant uncertainties regarding recovery of the
consideration due, associated costs or the possible return of goods.
(ii) Operational expenses
Cost of sales is determined using the weighted average method. Costs include all costs
of purchase, cost of conversion and other costs incurred in bringing the inventories to
their present location and condition. Selling and marketing and general and
administrative expenses are charged to expense when incurred.
(iii) Financing income/(expense)
Financing income/(expense) comprise interest payable on borrowings and lease
obligations, interest receivable on deposits and marketable securities, and gains and
losses on discounting receivable and payable that are recognized in the statement of
operations.
Kredilerle ilgili oluflan tüm faiz ve di¤er maliyetler net finansal maliyetlerin bir
parças› olarak olufltuklar› anda giderlefltirilirler. Finansal kiralama ödemelerinin faiz
gideri k›sm› efektif faiz oran› metodu kullan›larak gelir tablosuna kaydedilir.
(r) Gelir vergisi
Dönemin kar ve zarar› üzerindeki gelir vergisi yükümlülü¤ü, cari y›l vergisi ve
ertelenmifl vergiyi içermektedir. Gelir vergisi gelir tablosunda takip edilmektedir.
Cari y›l vergi yükümlülü¤ü, dönem kar›n›n vergiye tabi olan k›sm› üzerinden ve
bilanço tarihinde geçerli olan vergi oranlar› ile hesaplanan vergi yükümlülü¤ünü ve
geçmifl y›llardaki vergi yükümlülü¤ü ile ilgili düzeltme kay›tlar›n› içermektedir.
Ertelenmifl vergi yükümlülü¤ü veya alaca¤› varl›klar›n ve borçlar›n mali tablolarda
gösterilen de¤erleri ile yasal vergi matrah› hesab›nda dikkate al›nan tutarlar›
aras›ndaki “zamanlama farkl›l›klar›”n›n bilanço yöntemine göre vergi etkilerinin
hesaplanmas›yla belirlenmektedir. Ertelenmifl vergi yükümlülü¤ü veya alaca¤›
sözkonusu zamanlama farkl›l›klar›n›n ortadan kalkaca¤› ilerideki dönemlerde
ödenecek vergi tutarlar›nda yapacaklar› tahmin edilen art›fl ve azal›fl oranlar›nda
iliflikteki mali tablolara yans›t›lmaktad›r.
Ertelenmifl vergi alaca¤›, gelecek dönemlerde vergi avantaj›n›n sa¤lanmas› olas›
durumlarda ayr›l›r. Bu alacaktan sonraki dönemlerde yararlan›lamayaca¤› anlafl›ld›¤›
oranda ilgili aktiften silinir.
Konsolide mali tablolara iliflkin dipnotlar
1. Di¤er faaliyet gelirleri
14.
2. Faaliyet giderleri
15.
3. Personel giderleri
16.
4. Di¤er faaliyet giderleri
17.
5. Finansman geliri/gideri
18.
6. Vergi alaca¤›
19.
7. Maddi duran varl›klar
20.
8. Maddi olmayan duran varl›klar
21.
9. fierefiye, net
22.
10. Di¤er duran varl›klar
23.
11. ‹fltirakler ve ba¤l› ortakl›klar
24.
12. Stoklar
25.
13. Ertelenmifl vergi alacak ve borçlar› 26.
Ticari alacaklar ve di¤er dönen varl›klar
Nakit ve nakit benzeri de¤erler
Yat›r›mlar
Sermaye ve yedekler
Hisse bafl›na kar/(zarar)
Banka kredileri
K›dem tazminat› karfl›l›¤›
Di¤er uzun vadeli borçlar
Ticari ve di¤er k›sa vadeli borçlar
Finansal enstrümanlar
Taahhütler ve flarta ba¤l› olaylar
‹lgili taraflar
Önemli olaylar
All interest and other costs incurred in connection with borrowings are expensed as
incurred as part of net financing costs. The interest expense component of finance
lease payments is recognized in the statement of operations using the effective interest
rate method.
(r) Income tax
Income tax on the profit or loss for the year comprises current and deferred tax.
Income tax is recognized in the statement of operations.
Current tax is the expected tax payable on the taxable income for the year or period,
using tax rates enacted or substantially enacted at the balance sheet date, and any
adjustment to tax payable in respect of previous years.
Deferred tax is provided using the balance sheet liability method, providing for
temporary differences between the carrying amounts of assets and liabilities for
financial reporting purposes and the amounts used for taxation purposes. The amount
of deferred tax provided is based on the expected manner of realization or settlement
of the carrying amount of assets and liabilities, using tax rates enacted or substantially
enacted at the balance sheet date.
A deferred tax asset is recognized only to the extent that it is probable that future
taxable profits will be available against which the unused tax losses and credits can be
utilized. Deferred tax assets are reduced to the extent that it is no longer probable
that the related tax benefit will be realized.
Notes to the consolidated financial statements
1. Other operating income
14. Trade receivables and other current assets
2. Operating expenses
15. Cash and cash equivalents
3. Personnel expenses
16. Investments
4. Other operating expenses
17. Capital and reserves
5. Financing income/(expense)
18. Earnings/(loss) per share
6. Tax credit
19. Interest-bearing loans and borrowings
7. Property, plant and equipment
20. Severance pay liability
8. Intangible assets
21. Other non-current liabilities
9. Goodwill, net
22. Trade payables and other current liabilities
10. Other non-current assets
23. Financial instruments
11. Investments in associates
24. Commitments and contingencies
and other investments
25. Related parties
12. Inventories
26. Significant matters
13. Deferred tax assets and liabilities
55
Turcas Petrol Anonim fiirketi ve Ba¤l› Kuruluflu
Turcas Petrol Anonim fiirketi and its Subsidiary
31 Aral›k 2002
Konsolide Mali Tablolar› Tamamlay›c› Notlar
Notes to Consolidated Financial Statements
December 31, 2002
(Bakiyeler UMS 29 uyar›nca ve enflasyon etkilerini yans›tacak flekilde Türk Liras›’n›n
31 Aral›k 2002 tarihindeki sat›nalma gücü cinsinden milyon TL olarak ifade edilmifltir.)
(In millions of TL as adjusted for the effects of inflation in TL units current at
31 December 2002 pursuant to IAS 29.)
1. Di¤er faaliyet gelirleri
Milyon TL
Komisyon geliri
Kira geliri
Bayilik hakk› geliri
Di¤er
1. Other operating income
In millions of TL
Commission income
Rent income
Income from agent rights
Others
2002
7,429,338
1,871,319
851,529
1,666,800
11,818,986
2001
11,469,668
2,339,547
1,086,636
1,655,433
16,551,284
2002
7,429,338
1,871,319
851,529
1,666,800
11,818,986
2001
11,469,668
2,339,547
1,086,636
1,655,433
16,551,284
Komisyon gelirleri, ‹pragaz A.fi. taraf›ndan üretilen likit petrol gaz› (LPG) sat›fllar›
sonucu oluflmaktad›r. fiirket LPG sat›fllar›ndan 2002 y›l› içerisinde 5,501,715 TL
(2001: 7,490,900 TL) tutar›nda komisyon geliri elde etmifltir.
Commission income is earned as a result of selling liquid petroleum gas (LPG)
produced by ‹pragaz A.fi. The Company has earned TL 5,501,715 (2001: TL
7,490,900) as commission income from LPG sales.
fiirket ayr›ca Castrol Madeni Ya¤lar Sanayi ve Ticaret Afi (Castrol) ile yapt›¤›
anlaflma gere¤i, Castrol ürünlerinin kendi istasyonlar›nda sat›fl› ve pazarlamas›
sonucunda da komisyon geliri elde etmektedir. fiirket Castrol ürünlerinin
sat›fllar›ndan 2002 y›l› için 940,368 TL (2001: 3,517,721 TL) komisyon geliri elde
etmifltir.
The Company also receives commission income from selling and marketing of Castrol
Madeni Ya¤lar Sanayi ve Ticaret Afi (Castrol) products at its own stations. The
Company has earned TL 940,368 (2001: TL 3,517,721) as commission income from
Castrol products sales.
Komisyon gelirinin geri kalan k›sm› ise Akaryak›t Yönetim Sistemi (AYS) ve sigorta
komisyon gelirlerinden oluflmaktad›r.
2. Faaliyet giderleri
Milyon TL
Sat›fl ve pazarlama giderleri
Amortisman ve itfa giderleri
Reklam
Memur ve iflçi ücretleri
Bayi giderleri
Kira giderleri
Bak›m ve onar›m
Vergi ve di¤er yükümlülükler
Tafl›t giderleri
Haberleflme
Servis ve dan›flmanl›k giderleri
Di¤er
Milyon TL
Genel yönetim giderleri
Amortisman ve itfa
Memur ve iflçi ücretleri
Servis ve dan›flmanl›k giderleri
Bayi giderleri
Gemilerin faaliyet giderleri
K›dem tazminat› karfl›l›k gideri
Kira gideri
Karfl›l›k giderleri
Vergi ve di¤er yükümlülükler
Haberleflme
Gemilerin de¤er düflüfl karfl›l›¤›
Di¤er
3. Personel giderleri
Milyon TL
Ücret ve maafllar
K›dem tazminat› karfl›l›¤›
Zorunlu sosyal güvenlik ve di¤er yard›mlar
2002
2001
13,918,396
5,333,337
2,682,007
1,601,506
913,599
505,048
440,217
343,673
224,086
115,068
1,486,785
27,563,722
13,391,838
294,874
2,632,273
3,935,127
651,181
522,289
289,469
361,274
173,902
98,933
1,679,629
24,030,789
2002
2001
10,206,098
5,146,539
2,990,093
2,392,156
1,125,402
828,551
584,619
127,752
247,435
235,261
2,156,393
26,040,299
10,487,490
4,998,166
3,477,455
361,880
1,505,014
74,810
1,013,491
1,073,557
543,751
277,284
5,740,303
3,474,069
33,027,270
2002
7,828,546
828,551
581,896
9,238,993
2001
7,630,439
74,810
742,904
8,448,153
The remaining commission income resulted from Fuel Management System (FMS) and
insurance commission income.
2. Operating expenses
In millions of TL
Selling and marketing expenses
Depreciation and amortisation
Advertising
Payroll costs
Agent expenses
Rent expense
Repair and maintenance
Taxes and duties
Motor vehicles expenses
Communication
Service and consultancy expenses
Others
In millions of TL
General and administrative expenses
Depreciation and amortisation
Payroll costs
Service and consultancy expenses
Agent expenses
Operating expenses of vessels
Severance pay provision
Rent expense
Provision expenses
Taxes and duties
Communication
Allowance on impairment of vessel
Others
3. Personnel expenses
In millions of TL
Wages and salaries
Severance pay provision
Compulsory social security and other contributions
2002
2001
13,918,396
5,333,337
2,682,007
1,601,506
913,599
505,048
440,217
343,673
224,086
115,068
1,486,785
27,563,722
13,391,838
294,874
2,632,273
3,935,127
651,181
522,289
289,469
361,274
173,902
98,933
1,679,629
24,030,789
2002
2001
10,206,098
5,146,539
2,990,093
2,392,156
1,125,402
828,551
584,619
127,752
247,435
235,261
2,156,393
26,040,299
10,487,490
4,998,166
3,477,455
361,880
1,505,014
74,810
1,013,491
1,073,557
543,751
277,284
5,740,303
3,474,069
33,027,270
2002
7,828,546
828,551
581,896
9,238,993
2001
7,630,439
74,810
742,904
8,448,153
The average number of employees during 2002 is 188 (2001: 191).
2002 y›l› içinde ortalama personel say›s› 188’dir (2001: 191).
4. Di¤er faaliyet giderleri
Milyon TL
Gemilerin sat›fl zararlar›
Di¤er
2002
1,586,181
974,383
2,560,564
2001
269,326
269,326
4. Other operating expenses
In millions of TL
Loss on sale of vessels
Others
2002
1,586,181
974,383
2,560,564
2001
269,326
269,326
26,780,734 TL defter de¤erindeki gemiler y›l içinde sat›lm›flt›r. fiirket, 2002/2
numaral›, 7 fiubat 2002 tarihli Yönetim Kurulu karar› ile, ilgili taraf olmayan bir
flirkete, 5500 DWT a¤›rl›¤›nda ve Uluslararas› Gemi Ticareti Sicili’ne kay›tl› Turcas II
isimli gemiyi satmaya karar vermifltir. Sözkonusu gemi sat›fl› 2002 senesinin fiubat
ay›nda gerçekleflmifltir. Ayr›ca fiirket, 2002/5 numaral›, 8 Mart 2002 tarihli Yönetim
Kurulu karar› ile, ilgili taraf olmayan bir flirkete, 5500 DWT a¤›rl›¤›nda ve
Uluslararas› Gemi Ticareti Sicili’ne kay›tl› Turcas I isimli gemiyi satmaya karar
vermifltir. Sözkonusu gemi sat›fl› 2002 senesinin Nisan ay›nda gerçekleflmifltir.
Yap›lan sat›fl anlaflmalar› uyar›nca Turcas I isimli gemi 8,000,000 ABD Dolar› ve
Turcas II isimli gemi ise 7,850,000 ABD Dolar›’na sat›lm›flt›r. fiirket, ilgili sat›fl
ifllemleri s›ras›nda sat›fl tutarlar› üzerinden, Turcas I için %3’lük ve Turcas II için ise
%2’lik komisyon ödemesi yapm›flt›r. 31 Aral›k 2002 tarihi itibariyle Turcas I
gemisinin sat›fl›ndan 213,365 TL ve Turcas II gemisinin sat›fl›ndan ise 1,372,816 TL
tutar›nda zarar oluflmufltur.
5. Finansman geliri/(gideri)
Milyon TL
Kur fark› geliri/(gideri), net
Faiz gideri
Teminat mektubu komisyonlar›
Komisyon gideri
Repo geliri
Faiz geliri
Çek ve alacak senetleri reeskont
geliri/(gideri), net
Di¤er
2002
23,789,401
(5,703,844)
(708,142)
(2,739,525)
1,164,438
470,705
2001
(28,610,621)
(22,169,243)
(534,146)
(7,821,259)
8,729,243
3,164,051
(418,482)
(681,904)
15,172,647
902,413
(1,323,024)
(47,662,586)
6. Vergi alaca¤›
Kurumlar vergisi oran› %30 olarak belirlenmifltir. Bu oran üzerinden %10 fon
kesintisi ile beraber kurumlar vergisi yükü %33 olmaktad›r. Buna ilave olarak
Bakanlar Kurulu gelir vergisi stopaj oran›n› %25’e kadar yükseltmeye yetkili k›l›nm›fl
ve; bu vergi için kullan›lan fon oran› %10 olarak kalm›flt›r. Rapor tarihi itibariyle
sözkonusu gelir vergisi oran› %15 (hisseleri halka aç›k flirketler için: %5) olarak
belirlenmifltir. Gelir vergisi stopaj›n›n sadece kar pay› olarak da¤›t›lacak tutarlara
uygulanmas› esast›r, di¤er bir ifade ile kar pay› da¤›t›m›n›n olmamas› durumunda
gelir vergisi stopaj› da tahakkuk ettirilmeyecektir.
Yat›r›m indirimi kurumlar vergisinden muaft›r, fakat %18 oran›ndaki gelir vergisine
tabidir; %10 oran›nda fon kesintisi ile vergi yükü efektif olarak %19.8’e gelmektedir.
Türk vergi sistemine göre, oluflmufl zararlar ileriki senelerde oluflabilecek vergiye
tabi karlar› netlefltirmek amac› ile yaln›zca 5 y›l ileriye tafl›nabilirler. Zararlar geçmifl
dönem karlar›n› netlefltirmek amac› ile geriye tafl›namazlar.
Vessels at amount of TL 26,780,734 were sold during the year. According to the Board
of Directors’ resolution, number 2002/2, dated 7 February 2002, the Company agreed
with a non-related party firm, to sell Turcas II vessel, registered at International Vessel
Trade Registry, weighted 5500 DWT (dead weight tone). The sales transaction was
realized in February 2002. The Company has also reached an agreement for the sale
of Turcas I vessel, registered at International Vessel Trade Registry, weighted 5500
DWT to another non-related party firm according to the Board of Directors’ resolution,
number 2002/5, dated 8 March 2002. The sales transaction was realized in April
2002.
The agreements confirm the selling of Turcas I vessel at the price of USD 8,000,000
less 3% commission, and Turcas II vessel at the price of USD 7,850,000 less 2%
commission. As of 31 December 2002, the Company has incurred a loss of TL
1,372,816 and TL 213,365 from the sales of Turcas II and Turcas I, respectively.
5. Financing income/(expense)
In millions of TL
Foreign exchange gain/(loss), net
Interest expense
Letters of guarantee commissions
Commission expense
Income from repurchasing agreement
Interest income
Discount income/(expense) on
cheques & notes receivable, net
Others
2002
23,789,401
(5,703,844)
(708,142)
(2,739,525)
1,164,438
470,705
2001
(28,610,621)
(22,169,243)
(534,146)
(7,821,259)
8,729,243
3,164,051
(418,482)
(681,904)
15,172,647
902,413
(1,323,024)
(47,662,586)
6. Tax credit
The corporation tax is at 30%; contribution to state fund is at 10% of this tax, which
results in effective corporation tax rate of 33%. In addition, there is an income tax
charge. Council of Ministers is authorised to determine income tax rate up to the level
of 25%; contribution to state fund is at 10% on this tax as well; presently, this income
tax charge is at the rate of 15% (for companies of whose shares are publicly traded;
5%). However, pursuant to this legislation, income tax charge is computed only on the
amounts of dividend distribution and is accrued only at the time of such payments.
The investment tax credits are exempt from corporation tax but are subject to an
income tax charge at the rate of 18%; contribution to state fund is levied at 10%,
which results in an effective income tax rate of 19.8%.
Under the Turkish taxation system, losses can be carried forward to offset against
future taxable income for up to 5 years. Losses cannot be carried back to offset profits
from previous periods.
Toplam gelir vergisi karfl›l›¤›, vergi öncesi rakama yasal vergi oran› uygulanarak elde
edilen tutardan afla¤›da gösterildi¤i flekilde daha farkl›d›r:
The total provision for taxes on income is different than the amount computed by
applying the statutory tax rate to income before provision for taxes on income as
shown in the following reconciliation for the year ended 31 December 2002:
Konsolide gelir tablosunda takip edilen
Recognised in the consolidated statement of operations
Milyon TL
Ertelenmifl vergi alaca¤›:
Zamanlama fark›n›n oluflmas› ve ters çevrilmesi
Parasal kalemlerin yeniden ifade edilmesinin etkisi
Konsolide gelir tablosundaki toplam vergi alaca¤›
Efektif vergi oran›n›n mutabakat›
Milyon TL
Vergi öncesi kar/(zarar)
Yasal oran kullan›larak hesaplanan gelir vergisi
Gemi sat››fl›ndan do¤an vergi avantaj›
‹ndirilemeyen giderler
‹ndirilemeyen parasal olmayan kalemlerin
yeniden ifade edilmesi
Vergi alaca¤›n›n yeniden ifade edilmesinin etkisi
Vergi alaca¤›
2002
2001
546,688
69,334
616,022
6,763,042
1,979,967
8,743,009
2002
16,069,393
%33 (5,302,900)
4,372,244
(5,432,573)
2001
(41,271,375)
13,619,555
(14,239,669)
6,932,798
46,453
616,022
7,383,156
1,979,967
8,743,009
In millions of TL
Deferred tax credit
Origination and reversal of temporary differences
Monetary restatement
Total tax credit in the statement of operation
2002
2001
546,688
69,334
616,022
6,763,042
1,979,967
8,743,009
Reconciliation of effective tax rate
In millions of TL
2002
2001
Profit/(loss) before tax
16,069,393 (41,271,375)
Income tax using the domestic corporation tax rate 33% (5,302,900) 13,619,555
Tax benefit arising from sale of vessels
4,372,244
Non-deductible expenses
(5,432,573) (14,239,669)
Non-deductible non-monetary item restatements
6,932,798
7,383,156
Monetary restatement on tax credit
46,453
1,979,967
Tax credit
616,022 8,743,009
57
Yeralt› ve yerüstü
düzenleri
11,217,345
19,255
11,236,600
Bina ve araziler
12,545,019
5,750
12,550,769
26,426,028
577,636
(332,909)
26,670,755
Makina tesis
ve cihazlar
36,254,911
60,815
(34,513,627)
1,802,099
Tafl›tlar
367,794
203,959
(360,073)
211,680
Yap›lmakta olan
yat›r›mlar
17,944,654
164,386
18,109,040
Özel
maliyetler
65,837,234
3,335,789
(5,601,722)
63,571,301
Demirbafl ve
di¤er
170,592,985
4,367,590
(40,808,331)
134,152,244
Toplam
Land
improvement
11,217,345
19,255
11,236,600
Land &
buildings
12,545,019
5,750
12,550,769
26,426,028
577,636
(332,909)
26,670,755
Plant &
Equipment
36,254,911
60,815
(34,513,627)
1,802,099
Vehicles
367,794
203,959
(360,073)
211,680
Construction
in process
17,944,654
164,386
18,109,040
Leasehold
improvements
65,837,234
3,335,789
(5,601,722)
63,571,301
Furniture
& others
170,592,985
4,367,590
(40,808,331)
134,152,244
Total
The agreements confirm the selling of Turcas I vessel at the price of USD 8,000,000 less 3% commission, and Turcas II vessel at the price of USD 7,850,000 less 2% commission. As of 31 December 2002, the Company has
incurred a loss of TL 1,372,816 and TL 213,365 from the sales of Turcas II and Turcas I, respectively.
Vessels at the amount of TL 26,780,734 were sold during 2002. According to the Board of Directors’ resolution number 2002/2 dated 7 February 2002, the Company agreed with a non-related party firm, to sell Turcas II
vessel, registered at International Vessel Trade Registry, weighted 5500 DWT (dead weight tone). The sales transaction was realized in February 2002. The Company has also reached an agreement for the sale of Turcas I
vessel, registered at International Vessel Trade Registry, weighted 5500 DWT (dead weight tone) to another non-related party firm according to the Board of Directors’ resolution number 2002/5 dated 8 March 2002. The
sales transaction was realized in April 2002.
In millions of TL
Cost
Balance at 1 January 2002
Additions
Disposals
Balance at 31 December 2002
7. Property, plant and equipment
Yap›lan sat›fl anlaflmalar› uyar›nca Turcas I isimli gemi 8,000,000 ABD Dolar› ve Turcas II isimli gemi ise 7,850,000 ABD Dolar›’na sat›lm›flt›r. fiirket, ilgili sat›fl ifllemleri s›ras›nda sat›fl tutarlar› üzerinden, Turcas I için
%3’lük ve Turcas II için ise %2’lik komisyon ödemesi yapm›flt›r. 31 Aral›k 2002 tarihi itibariyle Turcas I gemisinin sat›fl›ndan 213,365 TL ve Turcas II gemisinin sat›fl›ndan ise 1,372,816 TL tutar›nda zarar oluflmufltur.
26,780,734 TL defter de¤erindeki gemiler y›l içinde sat›lm›flt›r. fiirket, 2002/2 numaral›, 7 fiubat 2002 tarihli Yönetim Kurulu karar› ile, ilgili taraf olmayan bir flirkete, 5500 DWT a¤›rl›¤›nda ve Uluslararas› Gemi Ticareti
Sicili’ne kay›tl› Turcas II isimli gemiyi satmaya karar vermifltir. Sözkonusu gemi sat›fl› 2002 senesinin fiubat ay›nda gerçekleflmifltir. Ayr›ca fiirket, 2002/5 numaral›, 8 Mart 2002 tarihli Yönetim Kurulu karar› ile, ilgili taraf
olmayan bir flirkete, 5500 DWT a¤›rl›¤›nda ve Uluslararas› Gemi Ticareti Sicili’ne kay›tl› Turcas I isimli gemiyi satmaya karar vermifltir. Sözkonusu gemi sat›fl› 2002 senesinin Nisan ay›nda gerçekleflmifltir.
Milyon TL
Maliyet
1 Ocak 2002 bakiyesi
Girifller
Ç›k›fllar
31 Aral›k 2002 bakiyesi
7. Maddi duran varl›klar
7. Property, plant and equipment continued
7. Maddi duran varl›klar notunun devam›
Amortisman
1 Ocak 2002 bakiyesi
Dönem içi amortisman gideri
De¤er düflüklü¤ünün ters çevrilmesi
Dönem içi ç›k›fllar
31 Aral›k 2002 bakiyesi
88,198,861
10,457,623
(5,740,303)
(7,703,237)
85,212,944
Depreciation
Balance at 1 January 2002
Depreciation charge for the year
Reversal of impairment losses
Disposals during the year
Balance at 31 December 2002
88,198,861
10,457,623
(5,740,303)
(7,703,237)
85,212,944
Defter de¤eri
1 Ocak 2002 itibariyle
31 Aral›k 2002 itibariyle
82,394,122
48,939,300
Carrying amount
At 1 January 2002
At 31 December 2002
82,394,122
48,939,300
31 Aral›k 2002 itibariyle sabit k›ymet al›m› için 6,754,943 TL (2001: 7,746,759 TL)
tutar›nda avans verilmifltir (not 24).
31 Aral›k 2002 itibariyle maddi duran varl›klar üzerindeki sigorta tutar› 166,219,946
TL’dir (2001: 118,317,468 TL).
fiirket’in Barclays Bank Plc’den kullanm›fl oldu¤u krediye kefil olan T. Vak›flar
Bankas› A.O.’ya ek teminat teflkil etmek üzere, ba¤l› ortakl›¤› Marmara Petrol ve
Rafineri ‹flleri A.fi.’ye ait Kocaeli ili Körfez ilçesinde bulunan akaryak›t dolum tesisi
15,000,000 TL bedelle ayn› bankaya ipotek edilmifltir.
8. Maddi olmayan duran varl›klar
Maddi olmayan duran varl›klar ticari ünvanlar›n kullan›lma hakk›ndan oluflmaktad›r.
Türkpetrol Vakf› ile 29 A¤ustos 2000’de imzalanan ek sözleflme ile 17 Haziran
2000’de sona eren “Lisans Hakk›” anlaflmas› mevcut koflullar› ile 17 Haziran
2012’ye kadar uzat›lm›flt›r. ‹laveten, fiirket 17 Haziran 2006’ya kadar yapaca¤› beyaz
ürün sat›fllar› için ton bafl›na 0.30 ABD Dolar› lisans ücreti ödemeyi taahhüt
etmifltir. Bu ödemeler 17 Haziran 2006 ve 17 Haziran 2012 aras›ndaki dönemde
yap›lacak beyaz ürün sat›fllar› için ton bafl›na 0.35 ABD Dolar›’na ç›kar›lacakt›r.
9. fierefiye, net
1996 y›l›nda, Marmara’n›n %100 oran›nda direk al›m›ndan ve yine ayn› y›l içerisinde
Turcas Petrolcülük A.fi. hisselerinin %82.16’l›k k›sm›n›n al›m›ndan kaynaklanan
flerefiye, ilgili flirketlerin hisselerinin al›fl tarihindeki elde etme maliyetleri ile, ilgili
flirketlerin yine al›fl tarihindeki net aktif toplamlar› aras›ndaki olumlu farktan
oluflmaktad›r.
At 31 December 2002, advances given for fixed assets amounted TL 6,754,943
(2001: TL 7,746,759), (refer to Note 24).
Tangible assets are insured to the extent of TL 166,219,946 (2001: TL 118,317,468)
as of 31 December 2002.
Fuel filling establishment of the Company’s subsidiary Marmara Petrol ve Rafineri ‹flleri
A.fi. located in Körfez district of Kocaeli was mortgaged to T. Vak›flar Bankas› A.O. at
an amount of TL 15,000,000 against the surety given by T. Vak›flar Bankas› A.O. for
the Company’s borrowing obtained from Barclays Bank Plc.
8. Intangible assets
Intangible assets comprise rights of usage of trade names. According to the sideagreement signed with Türkpetrol Vakf› on 29 August 2000, the “Right of Licence”,
which would expire on 17 June 2006 has been extended with the existing terms until
17 June 2012. Additionally, the Company has committed to make license fee
payments amounting to USD 0.30 per ton of white goods sold until 17 June 2006.
These particular payments will be raised to USD 0.35 per ton of white goods sold in
the period between 17 June 2006 and 17 June 2012.
9. Goodwill, net
Goodwill resulting from the direct acquisition of 100% ownership in Marmara in 1996
and from the direct acquisition of 82.16% of Turcas Petrolcülük A.fi. in 1996 consist of
the excess of the total acquisition costs over the net assets of these entities at the
dates of acquisitions.
Marmara ve Turcas Petrolcülük A.fi.’nin al›m›ndan oluflan flerefiye normal
amortisman yöntemi kullan›larak ve onbefl y›ll›k bir ekonomik ömür esas al›narak
hesaplan›r.
Such goodwill amounts relating to the acquisitions of Marmara and Turcas Petrolcülük
A.fi. are amortized on a straight line basis over 15 years.
31 Aral›k 2002’de sona eren dönemde flerefiyedeki hareket afla¤›daki gibidir:
Movement in goodwill in the year ended at 31 December 2002 is as follows:
Milyon TL
1 Ocak 2002 bakiyesi
Cari dönem amortisman›
31 Aral›k 2002 bakiyesi
In millions of TL
Beginning balance 1 January 2002
Current year amortization
Ending balance 31 December 2002
90,788,593
(9,496,424)
81,292,169
10. Di¤er duran varl›klar
fiirket taraf›ndan verilen krediler ve alacaklar
fiirket taraf›ndan verilen krediler ve alacaklar, istasyon sahiplerine k›sa vadede satma
amac› olmadan verilen para, mal veya servis niteli¤indeki finansal varl›klard›r.
‹stasyon sahiplerine verilen kredilerin vadelerine göre da¤›l›m› afla¤›daki gibidir;
Milyon TL
2004 Y›l›
‹stasyon sahiplerine
verilen krediler
145,638
2002
2005-2006
Y›l›
53,584
2001
90,788,593
(9,496,424)
81,292,169
10. Other non-current assets
Loans and receivables originated by the enterprise
Loans and receivables originated by the enterprise are financial assets that are created
by the Company by providing money, goods, or services to station owners, other than
those that are originated with the intent to be sold immediately or in the short-term.
Maturity distribution of the loans given to station owners is as follows:
Toplam
In millions of TL
199,222
591,412
Loans to station owners
2002
Year 2004 2005-2006
Year
145,638
53,584
2001
Total
199,222
591,412
2002
2001
3,303,622
29,917
3,532,761
2,521,614
32,343
3,145,369
Di¤er duran varl›klar
Other non-current assets
Milyon TL
Peflin ödenen istasyon kiralar›
Di¤er
2002
3,303,622
29,917
3,532,761
2001
2,521,614
32,343
3,145,369
Peflin ödenen istasyon kiralar›, istasyon tamir ve bak›m› için istasyon sahiplerine
yap›lan ödemeleri içerir.
In millions of TL
Prepaid station rent
Others
Prepaid station rent comprises payments given to the station owners for repair and
maintenance of stations.
59
11. ‹fltirakler ve ba¤l› ortakl›klar
11. Investments in associates and other investments
Nominal
De¤er
Milyon TL
Ambarl› Depolama
Hizmetleri Ltd. fiti.
Atafl Anadolu Tasfiyehanesi A.fi.
250
250
2002
Defter
De¤eri
Hisse
Oran›
7,846
2,053
9,899
2001
Defter
De¤eri
%50
%5
7,846
2,053
9,899
In millions of TL
Ambarl› Depolama
Hizmetleri Ltd. fiti.
Atafl Anadolu Tasfiyehanesi A.fi.
Nominal
Value
250
250
‹fltirakler maliyet de¤erleri üzerinden muhasebelefltirilmifllerdir.
Investments in associates are accounted at cost.
12. Stoklar
12. Inventories
Milyon TL
Ticari Mallar
Mamüller
Hammaddeler
Yar› Mamüller
Verilen Avanslar
Di¤er Stoklar
2002
8,437,312
2,233,827
1,720,060
408,889
1,850
86,798
12,888,736
2001
14,460,184
1,307,638
1,782,299
219,262
110,407
168,480
18,048,270
31 Aral›k 2002 itibariyle verilen avanslar, hammadde ve ticari mal al›mlar› için
yap›lan ödemelerden oluflmaktad›r.
31 Aral›k 2002 itibariyle stoklar üzerindeki toplam sigorta tutar› 11,168,211 TL’dir
(2001: 9,836,268 TL).
13. Ertelenmifl vergi alacak ve borçlar›
Dönem içindeki zamanlama farkl›l›klar› hareket tablosu
Milyon TL
1 Ocak 2002
Bakiyesi
Maddi duran varl›klar
11,554,981
Maddi olmayan duran varl›klar
4,200,223
K›dem tazminat› karfl›l›¤›
(88,843)
Al›nan avanslar
(226,326)
Ticari alacaklar
(18,736)
Di¤er dönen varl›klar
175,691
Di¤er duran varl›klar
377,937
Banka kredileri
4,307
Geçmifl y›llardan tafl›nan zararlar (17,331,050)
Di¤er
(637,431)
Vergi alacaklar›
(1,989,247)
Bakiyelerin yeniden ifadesi
(613,482)
Net vergi alacaklar›
(2,602,729)
Y›l içinde
gerçekleflen
(5,484,039)
116,073
(242,326)
(33,467)
18,736
89,704
152,378
263,050
4,799,056
(225,853)
(546,688)
In millions of TL
Trading goods
Finished goods
Raw materials
Work in progress
Advances given
Other stocks
% of
ownership
7,846
2,053
9,899
2002
8,437,312
2,233,827
1,720,060
408,889
1,850
86,798
12,888,736
50%
5%
2001
Carrying
Value
7,846
2,053
9,899
2001
14,460,184
1,307,638
1,782,299
219,262
110,407
168,480
18,048,270
Advances given represent payments for purchases of raw materials and trading goods.
Inventories are insured to the extent of TL 11,168,211 as of 31 December 2002
(2001: TL 9,836,268).
13. Deferred tax assets and liabilities
Movement in temporary differences during the period
In TL millions
31 Aral›k 2002
Bakiyesi
6,070,942
4,316,296
(331,169)
(259,793)
265,395
530,315
267,357
(12,531,994)
(863,284)
(2,535,935)
(2,535,935)
2002
Carrying
Value
Balance
1 January 2002
Property, plant and equipment
11,554,981
Intangible assets
4,200,223
Severance pay liability
(88,843)
Advances taken
(226,326)
Trade receivables
(18,736)
Other current assets
175,691
Other non-current assets
377,937
Interest bearing loans and borrowings
4,307
Carryforward losses
(17,331,050)
Other items
(637,431)
Tax assets
(1,989,247)
Restatement of the balances
(613,482)
Net tax assets
(2,602,729)
Recognised
during the year
(5,484,039)
116,073
(242,326)
(33,467)
18,736
89,704
152,378
263,050
4,799,056
(225,853)
(546,688)
Balance
31 December 2002
6,070,942
4,316,296
(331,169)
(259,793)
265,395
530,315
267,357
(12,531,994)
(863,284)
(2,535,935)
(2,535,935)
2002
331,169
259,793
12,531,994
866,822
13,989,778
13,989,778
2001
88,843
226,326
18,736
17,331,050
639,763
18,304,718
5,645,159
23,949,877
Aktifler
2002
6,070,942
4,316,296
265,395
530,315
267,357
3,538
11,453,843
11,453,843
2001
11,554,981
4,200,223
175,691
377,937
4,307
2,332
16,315,471
5,031,677
21,347,148
Pasifler
2002
6,070,942
4,316,296
(331,169)
(259,793)
265,395
530,315
267,357
(12,531,994)
(863,284)
(2,535,935)
(2,535,935)
2001
11,554,981
4,200,223
(88,843)
(226,326)
(18,736)
175,691
377,937
4,307
(17,331,050)
(637,431)
(1,989,247)
(613,482)
(2,602,729)
Net
2001
88,843
226,326
18,736
17,331,050
639,763
18,304,718
5,645,159
23,949,877
866,822
13,989,778
13,989,778
Assets
2002
331,169
259,793
12,531,994
2002
2,655,610
(119,675)
2,535,935
3,538
11,453,843
11,453,843
2002
6,070,942
4,316,296
265,395
530,315
267,357
-
2001
2,729,913
(127,184)
2,602,729
2,332
16,315,471
5,031,677
21,347,148
2001
11,554,981
4,200,223
175,691
377,937
4,307
-
Liabilities
(863,284)
(2,535,935)
(2,535,935)
2002
6,070,942
4,316,296
(331,169)
(259,793)
265,395
530,315
267,357
(12,531,994)
(637,431)
(1,989,247)
(613,482)
(2,602,729)
2001
11,554,981
4,200,223
(88,843)
(226,326)
(18,736)
175,691
377,937
4,307
(17,331,050)
Net
In millions of TL
Deferred tax assets
Deferred tax liabilities
Total
2002
2,655,610
(119,675)
2,535,935
2001
2,729,913
(127,184)
2,602,729
Deferred income tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when the deferred income taxes relate to the same fiscal authority. The
following amounts, determined after appropriate offsetting, are shown in the consolidated balance sheet:
Other items
Tax (assets)/liabilities
Restatement of the balances
Net tax (assets)/liabilities
In TL millions
Property, plant and equipment
Intangible assets
Severance pay liability
Advances taken
Trade receivables
Other current assets
Other non-current assets
Interest bearing loans and borrowings
Carryforward losses
13. Deferred tax assets and liabilities continued
Recognised deferred tax assets and liabilities
Deferred tax assets and liabilities are attributable to the following items:
Milyon TL
Ertelenmifl vergi alacaklar›
Ertelenmifl vergi borçlar›
Toplam
Ertelenmifl vergi borçlar› ve alacaklar›, ertelenmifl gelir vergisi ayn› vergi dairesine ödendi¤i sürece ve cari vergi alacaklar› ve borçlar› kanunen net edildi¤i sürece, net gösterilebilirler. Afla¤›da belirtilen tutarlar, iliflikteki
mali tablolarda net edildikten sonra gösterilmifltir:
Milyon TL
Maddi duran varl›klar
Maddi olmayan duran varl›klar
K›dem tazminat› karfl›l›¤›
Al›nan avanslar
Ticari alacaklar
Di¤er dönen varl›klar
Di¤er duran varl›klar
Banka kredileri
Geçmifl y›llardan tafl›nan zararlar
Di¤er
Vergi (alacaklar›)/borçlar›
Bakiyelerin yeniden ifadesi
Net vergi (alacaklar›)/borçlar›
13. Ertelenmifl vergi alacak ve borçlar› notunun devam›
Kaydedilen ertelenmifl vergi alacak ve borçlar›
Ertelenmifl vergi alacak ve borçlar›na yol açan hesaplar afla¤›daki gibidir:
61
14. Ticari alacaklar ve di¤er dönen varl›klar
Ticari Alacaklar
Milyon TL
Tahsildeki vadeli çek ve senetler
Portföydeki vadeli çek ve senetler
Müflterilerden ticari alacaklar
fiüpheli alacak karfl›l›¤›
Di¤er
14. Trade receivable and other current assets
Trade receivables
2002
42,595,652
7,830,068
5,058,940
(360,972)
55,123,688
2001
32,022,583
1,918,167
4,943,569
(578,382)
52,361
38,358,298
Di¤er dönen varl›klar
Milyon TL
‹stasyon sahiplerine verilen kredilerin
k›sa vadeli k›sm›
Peflin ödenmifl vergiler
Peflin ödenmifl giderler
‹fl avanslar› ve di¤er avanslar
‹ndirilecek KDV
In millions of TL
Post-dated cheques and notes at collection
Post-dated cheques and notes in portfolio
Trade receivable from customers
Provision for doubtful receivables
Others
2002
42,595,652
7,830,068
5,058,940
(360,972)
55,123,688
2001
32,022,583
1,918,167
4,943,569
(578,382)
52,361
38,358,298
2002
2,704,312
2,087,451
226,675
221,694
5,240,132
2001
1,703,738
1,845,931
1,362,443
125,960
70,650
5,108,722
Other current assets
2002
2001
2,704,312
2,087,451
226,675
221,694
5,240,132
1,703,738
1,845,931
1,362,443
125,960
70,650
5,108,722
31 Aral›k 2002 itibariyle alacaklar için 38,325,053 TL, 351,750 ABD Dolar› ve
3,200 Euro tutar›nda (2001: 31,276,965 TL) teminat (ipotek, teminat mektubu ve
di¤er) al›nm›flt›r.
In millions of TL
Short-term portion of loans given to station owners
Prepaid taxes
Prepaid expenses
Job and other advances
VAT deductible
There are guarantees at the amount of TL 38,325,053, USD 351,750 and Euro
3,200 (2001: TL 31,276,965) for receivables (including mortgage, bank letters of
guarantee, and other) as of 31 December 2002.
15. Cash and cash equivalents
15. Nakit ve nakit benzeri de¤erler
Milyon TL
Bankalar
Vadesi geçmifl çekler
Repo anlaflmas›yla al›nan menkul k›ymetler
Kasa
2002
4,976,611
3,118,224
140,130
4,363
8,239,328
2001
29,971,035
5,631,456
6,108
35,608,598
fiirket, Barclays Bank Plc’den kulland›¤› kredilerin geri ödemelerine karfl›l›k olarak
ayn› bankada 2,737,789 TL (1,675,000 ABD Dolar›) tutar›nda (2001: 15,550,000
ABD Dolar›) bloke hesaba sahiptir. fiubat 2003’de tüm bloke hesapda bulunan
tutar Barclays Bank Plc kredi anapara ödemesi olarak kullan›lm›flt›r. Ayr›ca fiirket,
T. Vak›flar Bankas› A.O.’dan gümrü¤e vermek üzere ald›¤› teminat mektubu
dolay›s›yla ilgili bankada 164,037 TL (100,000 ABD Dolar›) tutar›nda bloke
mevduat bulundurmaktad›r. Bu mevduat 7 fiubat 2003 tarihine kadar bloke
edilmifltir.
16. Yat›r›mlar
Yat›r›mlar nominal de¤eri 4,413,900 TL olan hazine bonolar›ndan oluflmaktad›r. ‹lgili
hazine bonolar›n›n nominal de¤eri 3,163,900 TL olan k›sm› T. Vak›flar Bankas› A.O.
taraf›ndan Aral›k 2003 tarihine kadar bloke edilmifltir. fiirket 26 Ekim 2001 tarihinde T. Vak›flar Bankas› A.O. ile alacaklar›n›n, ilgili bankadan kullan›lan nakdi
olmayan kredilere istinaden teminat olarak transfer edilmesi yönünde bir anlaflma
yapm›flt›r. Bu anlaflmaya göre, fiirket, BP Petrolleri A.fi.’den ald›¤› ayl›k kira bedeli
olan 66,159 ABD Dolar›’n› Aral›k 2001’den bafllayarak Aral›k 2003’e kadar bankaya
transfer edecektir.
fiirket, hazine bonolar›n› vadesinden önce satmay› düflünmektedir. Bu nedenle
hazine bonolar› gerçek de¤erinden gösterilmifltir. Bu yat›r›mlar›n bafllang›ç faiz
oranlar› %37.5-%50.8 aral›¤›ndad›r ve vadesi 22 Ocak 2003’tür.
In millions of TL
Cash at banks
Due dated cheques
Marketable securities repurchase agreement
Cash on hand
2002
4,976,611
3,118,224
140,130
4,363
8,239,328
2001
29,971,035
5,631,456
6,108
35,608,598
The Company has blocked deposit amounting to TL 2,737,789 (USD 1,675,000) in
Barclays Bank Plc against the repayment of borrowings (2001: USD 15,550,000). In
February 2003, all of this blocked deposit has been used for the principle payment of
Barclays Bank Plc borrowings. Additionally, the Company has blocked deposit
amounting to TL 164,037 (USD 100,000) in T. Vak›flar Bankas› A.O. against
the letter of guarantee obtained from the bank for the customs. This deposit is
blocked until 7 February 2003.
16. Investments
Investments represent treasury bills with the nominal value of TL 4,413,900. Nominal
value of TL 3,163,900 blocked at T. Vak›flar Bankas› A.O. until December 2003. The
Company has made an agreement on 26 October 2001 with T. Vak›flar Bankas› A.O.,
regarding the transfer of receivables as a collateral of non-cash loans used from the
related bank. According to the agreement, the Company has transferred its monthly
rent receivables of USD 66,159 from BP Petrolleri A.fi. to the bank and invested in
treasury bills in return for the rent proceeds for the period starting from December
2001 to December 2003.
The Company has positive intend to sell treasury bills before their maturity dates and
therefore they are stated at fair value. These investments have an initial interest rates
between 37.5%-50.8% and mature on 22 January 2003.
All shares have a par value of one thousand TL.
In millions of TL
On issue at beginning of the year
Issued during the year
On issue at end of the year - fully paid
Share capital
In millions of TL
Balances at 1 January 2002
Release from legal reserves
Transfer to retained earnings
Profit for the year
Balances at 31 December 2002
17. Capital and reserves
Reconciliation of movement in capital and reserves
Her bir hisse bin Türk Liras› nominal de¤ere sahiptir.
Milyon TL
Dönem bafl›
Dönem içinde ç›kar›lan
Dönem sonu - tamam› ödenmifl
Sermaye
Milyon TL
1 Ocak 2002 bakiyeleri
Yasal yedeklerden ç›k›fllar
Geçmifl y›l zararlar›na transfer
Dönem kar›
31 Aral›k 2002 bakiyeleri
17. Sermaye ve yedekler
Sermaye ve yedeklerin hareket tablosunun mutabakat›
63
Share Capital
75,250,011
75,250,011
Sermaye
75,250,011
75,250,011
Share Premium
66,717,104
66,717,104
Emisyon Primi
66,717,104
66,717,104
2002
26,330,233
26,330,233
Legal Reserve
1,824,306
(430,002)
1,394,304
2002
26,330,233
26,330,233
Yasal Yedekler
1,824,306
(430,002)
1,394,304
2001
7,330,233
19,000,000
26,330,233
Ordinary shares
Accumulated Losses
(40,476,265)
430,002
(32,528,367)
(72,574,630)
2001
7,330,233
19,000,000
26,330,233
Adi Hisseler
Geçmifl Y›l Zararlar›
(40,476,265)
430,002
(32,528,367)
(72,574,630)
Accumulated Profit/(Loss)
(32,528,367)
32,528,367
16,685,415
16,685,415
Cari Y›l Kar›/(Zarar›)
(32,528,367)
32,528,367
16,685,415
16,685,415
Shareholders' Equity
70,786,789
16,685,415
87,472,204
Özkaynaklar
70,786,789
16,685,415
87,472,204
31 Aral›k 2002 itibariyle fiirket’in sermayedarlar› ve bunlar›n sermayedeki paylar›
afla¤›daki gibidir:
Hisse
Oran› (%)
Conoco Incorporation
28.52
Baha Kaya Alp Baban
13.85
Erdal Aksoy
13.48
Di¤er
44.15
100.00
26,330,233 TL tutar›ndaki nominal ve yasal sermaye, UMS 29 uyar›nca enflasyona
göre düzeltilerek 75,250,011 TL olarak iliflikteki konsolide mali tablolara
yans›t›lm›flt›r. fiirket hisselerinin %16.35’lik (2001: %15.1) k›sm› halka aç›kt›r ve
‹stanbul Menkul K›ymetler Borsas›’nda ifllem görmektedir.
fiirket hissedar› olan Baha Kaya Alp Baban, 20 Ekim 2002 tarihinde vefat etmifl
olup, hisseleri 2003 y›l›nda mirasç›lar›na devrolacakt›r.
Yasal yedekler, toplam› fiirket sermayesinin % 20’sine ulafl›ncaya kadar yasal dönem
kar›n›n %5’i oran›nda ayr›lmaktad›r (birinci tertip yasal yedekler). Ayr›ca, fiirket
sermayesinin %5’ini aflan tüm kar pay› da¤›t›mlar›n›n %10’u oran›nda yasal yedekleri
art›racak flekilde yedek ayr›lmaktad›r (ikinci tertip yasal yedekler). Yasal yedekler
k›s›tlanm›flt›r ve temettü olarak da¤›t›lamazlar. Yasal yedekler iliflikteki konsolide
mali tablolarda maliyet bedelleriyle gösterilmifltir.
18. Hisse bafl›na kar/(zarar)
Hisse bafl›na kar›n/(zarar›n) hesaplanmas› 16,685,415 TL olan net kar›n (2001:
32,528,367 TL-zarar) dönem içerisinde a¤›rl›kl› ortalama say›s› 8,948,365,000 olan
hisseye oran›yla oluflmaktad›r (2001: 8,948,365,000). Hisse bafl›na kar/(zarar)
hesaplamas› afla¤›daki gibidir:
Adi hisselerin a¤›rl›kl› ortalama say›s›
Binlik hisseler
Dönem bafl› ç›kar›lan adi hisseler
Kas›m 2001’de ç›kar›lan hisselerin etkisi
Adi hisselerin a¤›rl›kl› ortalama say›s›
2002
16,685,415
2001
(32,528,367)
2002
2001
8,948,365
8,948,365
7,330,233
1,618,132
8,948,365
19. Banka kredileri
Bu not fiirket’in kulland›¤› banka kredilerinin sözleflmeyle ba¤l› olan maddeleri
hakk›nda bilgi vermektedir.
Milyon TL
Uzun vadeli borçlar
Teminatl› banka kredileri
K›sa vadeli borçlar
Teminatl› banka kredilerinin k›sa vadeli k›sm›
Teminats›z banka kredilerinin k›sa vadeli k›sm›
% of
Interest
28.52
13.85
13.48
44.15
100.00
Conoco Incorporation
Baha Kaya Alp Baban
Erdal Aksoy
Others
The share capital representing the nominal and statutory capital of TL 26,330,233 is
reflected at its restated amount of TL 75,250,011 pursuant to IAS 29 in the
accompanying consolidated financial statements. The Company’s shares are open to
the public and 16.35% (2001: 15.1%) of the shares are traded on the Istanbul Stock
Exchange.
The Company’s shareholder, Mr. Baha Kaya Alp Baban died on 20 October 2002. His
shares will be transferred to his legal heirs in 2003.
Yasal yedekler
Adi ortaklara ba¤lanan net kar
Milyon TL
Net dönem kar›/(zarar›)
The main shareholders of the Company and their ownership interest as of 31
December 2002 are as follows:
Defter De¤eri
2002
2001
65,360,404
65,360,404
49,189,403
13,630,460
62,819,863
Legal reserves
The legal reserves established by annual appropriations amounting to 5% of income
disclosed in the Company’s statutory accounts until it reaches 20% of paid-in share
capital (first legal reserves). Without limit, a further 10% of dividend distributions in
excess of 5% of paid-in capital are to be appropriated to increase legal reserves
(second legal reserves). The legal reserves are restricted and are not available for
distribution as dividends. In the accompanying consolidated financial statements, legal
reserves are represented at their historical amounts.
18. Earnings/(loss) per share
Basic earnings/(loss) per share
The calculation of basic earnings/(loss) per share is based on the net income
attributable to the ordinary shares of TL 16,685,415 (2001: TL 32,528,367-loss) and
a weighted average number of ordinary shares of 8,948,365,000 outstanding during
the year (2001: 8,948,365,000), calculated as follows:
Net profit/(loss) attributable to ordinary shareholders
In millions of TL
Net profit / (loss) for the year
Weighted average number of ordinary shares
In thousands of shares
Issued ordinary shares at beginning of the year
Effect of shares issued in November 2001
Weighted average number of ordinary shares
2002
16,685,415
2001
(32,528,367)
2002
8,948,365
8,948,365
2001
7,330,233
1,618,132
8,948,365
19. Interest-bearing loans and borrowings
This note provides information about the contractual terms of the Company’s interestbearing loans and borrowings.
74,992,421
74,992,421
114,764,341
13,277,846
128,042,187
In millions of TL
Non-current liabilities
Secured loans and borrowings
Current liabilities
Current portion of secured bank loans
Current portion of unsecured bank loans
Carrying Amount
2002
2001
65,360,404
65,360,404
74,992,421
74,992,421
49,189,403
13,630,460
62,819,863
114,764,341
13,277,846
128,042,187
Borç ödeme tablosu ve dönemleri
Milyon TL-31 Aral›k 2002
Terms and debt repayment schedule
In millions of TL – 31 December 2002
Orijinal Tutar
Teminatl› banka kredileri:
Barclays Bank Plc, Libor+0.20
Barclays Bank Plc, Libor+0.45
Barclays Bank Plc, Libor+0.35
Sabanc›bank, %4.625
HSBC Bank, Libor+4.25
Toplam teminatl› krediler
Teminats›z banka kredileri:
Tekstilbank A.fi., %8.25
T. Vak›flar Bankas› A.O., %9
Alternatifbank A.fi., %9
Alternatifbank A.fi., %46.5
Vak›fbank TAO, %47.5
Toplam teminats›z krediler
ABD Dolar›
ABD Dolar›
ABD Dolar›
ABD Dolar›
ABD Dolar›
Defter De¤eri
Original Amount
Secured bank loans:
Barclays Bank Plc, Libor+0.20
Barclays Bank Plc, Libor+0.45
Barclays Bank Plc, Libor+0.35
Sabanc›bank, 4.625%
HSBC Bank, Libor+4.25
Total secured loans
23,516,318
25,785,715
12,383,922
3,444,051
4,616,049
38,622,824
42,350,046
20,339,156
5,656,455
7,581,326
114,549,807
Orijinal Tutar
Defter De¤eri
In millions of TL – 31 December 2002
ABD Dolar› 2,008,909
ABD Dolar› 1,533,288
ABD Dolar› 2,041,887
TL 2,013,950
TL 2,445,300
3,299,400
2,518,247
3,353,563
2,013,950
2,445,300
13,630,460
Unsecured loans and borrowings:
Tekstilbank A.fi., 8.25%
T. Vak›flar Bankas› A.O., 9%
Alternatifbank A.fi., 9%
Alternatifbank A.fi., 46.5%
Vak›fbank TAO, 47.5%
Total unsecured loans and borrowings
fiirket’in Deutsche Bank AG’den 4 Eylül 1996 tarihinde imzalanan ve 12 Eylül 1999
tarihinde revize edilen anlaflma uyar›nca kulland›¤› kredi, 13 Eylül 2000 tarihinde
Barclays Bank Plc’e transfer olmufltur. Bu transfer Hazine Müsteflarl›¤› taraf›ndan 4
Ekim 2000 tarihinde kay›tlara al›nm›flt›r. Barclays Bank Plc’den kullan›lan ilgili
kredinin 34,093,997 TL tutar›ndaki k›sm› 12 ay içerisinde, geri kalan k›sm› ise 2-4 y›l
içerisinde ilgili bankaya geri ödenecektir.
31 Aral›k 2002 tarihi itibariyle 27,000,000 ABD Dolar› Türk bankalar›ndan ve
37,500,000 ABD Dolar› ise ana sermayedar Conoco Incorporation’dan olmak
üzere toplam 64,500,000 ABD Dolar› (2001: 80,750,000 ABD Dolar›) tutar›nda
teminat mektubu al›nm›flt›r. Türk bankalar›ndan al›nan teminat mektuplar›n›n
23,500,000 ABD Dolar› tutar›ndaki k›sm› Barclays Bank Plc’den ve 3,500,000 ABD
Dolar› tutar›ndaki k›sm› da Sabanc›bank’dan kullan›lan kredilere istinaden ilgili
bankalara verilmifltir.
Yukar›da bahsedilen teminat mektuplar›yla ba¤lant›l› olarak, fiirket’in büyük
hissedarlar› ellerinde bulundurduklar› fiirket hisselerini T. Vak›flar Bankas› A.O.
lehine 6,596,000 TL (2001: 1,836,000 TL), Koçbank A.fi. lehine 701,000 TL (2001:
701,000 TL) ve Halk Bankas› A.fi. lehine 810,000 TL (2001: 859,000 TL) nominal
tutar›nda olmak üzere rehin vermifllerdir.
fiirket, ba¤l› kuruluflu Marmara’n›n HSBC Bank’tan kulland›¤› 4,500,000 ABD Dolar›
tutar›ndaki krediye istinaden sözkonusu bankaya 4,950,000 ABD Dolar› tutar›ndaki
müflteri çeklerini teminat olarak vermifltir. Buna ek olarak, fiirket’in ana ortaklar›
olan Erdal Aksoy ve merhum Baha Kaya Alp Baban, HSBC Bank’dan kullan›lan ilgili
krediye istinaden toplam 10,000,000 ABD Dolar› tutar›nda flahsi kefalet
vermifllerdir.
20. K›dem tazminat› karfl›l›¤›
K›dem tazminat karfl›l›¤›, fiirket’in gelecekteki yükümlülüklerinin mevcut de¤eri
tahmin edilerek hesaplanm›flt›r.
Buna göre, toplam yükümlülük hesaplan›rken afla¤›daki aktüer varsay›mlar dikkate
al›nm›flt›r.
2002
%6
%99
2001
%10
%98
38,622,824
42,350,046
20,339,156
5,656,455
7,581,326
114,549,807
Original Amount
Carrying Amount
USD
USD
USD
TL
TL
2,008,909
1,533,288
2,041,887
2,013,950
2,445,300
3,299,400
2,518,247
3,353,563
2,013,950
2,445,300
13,630,460
The bank borrowings obtained from Deutsche Bank AG, signed as of 4 September
1996 and lastly amended on 12 September 1999, were transferred to Barclays Bank
Plc on 13 September 2000. The transfer was registered at the Undersecretary of
Treasury on 4 October 2000. The portion of TL 34,093,997 of borrowing from
Barclays Bank Plc is repayable within 12 months; the remaining balance is repayable
within the next 2-4 years.
The Company has obtained letters of guarantee amounting to USD 64,500,000
(2001: USD 80,750,000). USD 27,000,000 portion of these letters of guarantees is
taken from Turkish banks and USD 37,500,000 portion is taken from the main
shareholder, Conoco Incorporation. The Company has given the USD 23,500,000
portion of the letters of guarantee to Barclays Bank and USD 3,500,000 to Sabanc›
Bank as a guarantee for the credits that the Company uses from these banks.
In connection with the above-mentioned bank letters of guarantee, the Company’s
main shareholders gave their own shares of the Company as a pledge, nominal
amounting to TL 6,596,000 (2001: 1,836,000 TL) to T. Vak›flar Bankas› A.O., TL
701,000 (2001: 701,000 TL) to Koçbank A.fi.; and TL 810,000 (2001: 859,000 TL)
to Halk Bankas› A.fi..
The Company has given to HSBC Bank customer cheques amounting to USD
4,950,000 as a surety for the loan given by HSBC Bank to its affiliated company,
Marmara Petrol ve Rafineri ‹flleri A.fi. amounting to USD 4,500,000. In addition, the
Company’s main shareholders, Erdal Aksoy and Baha Kaya Alp Baban deceased have
given personal sureties amounting to USD 10,000,000 for the loan used from HSBC
Bank.
International Accounting Standard No 19 (IAS 19) requires actuarial valuation methods
to be developed to estimate the enterprise’s obligation under defined benefit plans.
Accordingly, the following actuarial assumptions were used in the calculation of the
total liability:
2002
2001
Discount rate
6%
10%
Turnover rate to estimate the probable retirements
99%
98%
Movement in the reserve for employee termination benefits during the year is as
follows:
Y›l içindeki k›dem tazminat› hareket tablosu ise flu flekildedir:
1 Ocak 2002 bakiyesi
Aç›l›fl bakiyesinin yeniden ifade edilmesinin etkisi
Y›l içindeki art›fl›n yeniden ifade edilmesinin etkisi
Y›l içindeki art›fl
31 Aral›k 2002 bakiyesi
23,516,318
25,785,715
12,383,922
3,444,051
4,616,049
20. Severance pay liability
The reserve has been calculated by estimating the present value of the future
obligation of the Company that may arise from the retirement of the employees.
19 numaral› Uluslararas› Muhasebe Standard› iflletmenin emeklilik planlar›na ba¤l›
yükümlülü¤ün aktüer de¤erleme metodlar› dikkate al›narak hesaplanmas›n›
gerektirir.
Reeskont oran›
Muhtemel personel devir oran›
USD
USD
USD
USD
USD
Carrying Amount
352,250
(83,028)
(94,230)
828,551
1,003,543
Balance at 1 January 2002
Restatement effect of beginning balance
Restatement effect of current year charge
Increase during the year
Balance at 31 December 2002
352,250
(83,028)
(94,230)
828,551
1,003,543
65
21. Di¤er uzun vadeli borçlar
Milyon TL
Kazan›lmam›fl gelirler
Al›nan avanslar
Di¤er
21. Other non-current liabilities
2002
1,580,750
905,542
2,486,292
2001
1,412,188
946,306
5,154
2,363,648
In millions of TL
Unearned income
Advances taken
Others
2002
1,580,750
905,542
2,486,292
2001
1,412,188
946,306
5,154
2,363,648
Kazan›lmam›fl gelirler, Petgaz S›v›laflt›r›lm›fl Petrol Gazlar› Sanayi ve Ticaret A.fi.’nin
fiirket’in Mersin’deki LPG dolum tesislerini kiralamas› sonucu oluflan kira
gelirlerinden oluflmaktad›r. Al›nan avanslar›n 821,192 TL’lik k›sm› Selyak Petrol
Ürünleri Üretim ve Pazarlama A.fi.’den al›nan 500,000 ABD Dolar›’ndan (not 24)
ve 84,350 TL’lik k›sm› ise Akaryak›t Yönetim Sistemi müflterilerinden al›nan
tutardan oluflmaktad›r.
Unearned income is comprised of the rent income obtained from Petgaz S›v›laflt›r›lm›fl
Petrol Gazlar› Sanayi ve Ticaret A.fi. for the rental of LPG filling establishment of the
Company in Mersin. TL 821,192 of advances taken comprises the amount obtained
from Selyak Petrol Ürünleri Üretim ve Pazarlama A.fi. amounting to USD 500,000
(refer to note 24) and TL 84,350 represents the advances taken from Fuel
Management System (FMS) customers.
22. Ticari ve di¤er k›sa vadeli borçlar
Ticari borçlar:
Milyon TL
Ticari borçlar
Di¤er çeflitli borçlar
22. Trade payable and other current liabilities
Trade payables:
In millions of TL
Trade payables
Other miscellaneous payables
2002
13,840,840
1,382,099
15,222,939
2001
14,501,646
31,167
14,532,813
2002
13,840,840
1,382,099
15,222,939
2001
14,501,646
31,167
14,532,813
31 Aral›k 2002 tarihi itibariyle ticari borçlar temel olarak hammadde al›m›
nedeniyle Tüprafl Türkiye Petrol Rafinerileri A.fi. ve Mobil Refining Company Inc.’a
olan borçlar›ndan oluflmaktad›r.
At 31 December 2002, trade payables mainly consisted of due to Tüprafl Türkiye
Petrol Rafinerileri A.fi. and Mobil Refining Company Inc., which resulted from the
purchases of raw materials.
Ticari ve di¤er çeflitli borçlar›n ortalama vade süresi yaklafl›k olarak bir haftad›r.
Dolay›s›yla bu borçlar›n defter de¤eri ile gerçek de¤eri yak›nd›r.
Trade and other miscellaneous payables have maturity of one week on the average.
Therefore, their carrying amounts approximate their fair values.
Di¤er k›sa vadeli borçlar ve gider tahakkuklar›:
Milyon TL
Ödenecek vergi ve yükümlülükler
Ödenecek KDV
Borç karfl›l›klar›
Kazan›lmam›fl gelirler
Ortaklara borçlar
Di¤er
Other current liabilities and accrued expenses:
In millions of TL
Taxes and duties payable
VAT Payable
Provision for liabilities
Unearned income
Payable to shareholders
Others
2002
5,464,594
1,445,234
609,936
530,543
228,970
617,556
8,896,833
2001
2,940,976
912,307
717,096
97,891
5,962,223
10,630,493
Ortaklara ticari olmayan borçlar›n 220,931 TL (2001: 208,781 TL) tutar›ndaki k›sm›
Conoco Incorporation’a ödenecek olan hizmet giderlerinden ve 8,032 TL (2001:
8,573 TL) tutar›ndaki k›sm› ise ortaklara ödenecek temettü borçlar›ndan
oluflmaktad›r (31 Aral›k 2001 tarihi itibariyle Ortaklara ticari olmayan toplam
5,962,223 TL tutar›ndaki borcun 5,677,837 TL tutar›ndaki k›sm›, Conoco
Incorporation’dan kullan›lm›fl olan ve vadesi her y›l bir sonraki y›la uzat›lan
3,000,000 ABD Dolar› tutar›ndaki k›sa vadeli kredidir).
fiirket, Ankara’daki bir benzin istasyonunun patlamas› sonucu daval› durumundad›r.
fiirket’in olas› yükümlülü¤ü 730,730 TL’dir. fiirket, mahkemenin gerekçeli karar›nda
belirtildi¤i üzere 4/8 oran›nda kusurlu bulunmufl ve finansal tablolar›nda 371,014 TL
karfl›l›k ay›rm›flt›r.
23. Finansal enstrümanlar
fiirket’in finansal varl›klar› nakit ve nakit benzeri de¤erler, ticari ve di¤er alacaklar ve
yat›r›mlardan oluflmaktad›r. fiirket’in finansal borçlar›n› ticari borçlar ve banka
kredileri oluflturmaktad›r. fiirket’in normal faaliyetlerinde kredi, faiz oran› ve kambiyo
riski ortaya ç›kabilir.
Kredi riski
fiirket’in mali varl›klar›ndan dolay› belli oranda teminata ihtiyac› vard›r. Yönetimin
mevcut bir kredi politikas› vard›r ve kredi riski devaml› flekilde takip edilmektedir.
Belirli bir tutar›n üstündeki alacaklar için müflterilerin kredi de¤erlendirilmeleri
yap›lmaktad›r.
Bilanço tarihi itibariyle önemli bir kredi riski yoktur. fiirket’in alabilece¤i maksimum
kredi riski bilançodaki finansal aktiflerin tafl›d›klar› de¤er kadard›r.
2002
5,464,594
1,445,234
609,936
530,543
228,970
617,556
8,896,833
2001
2,940,976
912,307
717,096
97,891
5,962,223
10,630,493
The non-trade payable to shareholders is composed of services payable to Conoco
Incorporation amounting TL 220,931 (2001: TL 208,781) and the dividend payable to
shareholders amounting TL 8,032 (2001: TL 8,573) (As of 31 December 2001, TL
5,677,837 portion of the total TL 5,962,223 non-trade payables to the shareholders
represents short-term loans obtained from Conoco Incorporation amounting to USD
3,000,000 whose maturity date is transferable to the next year).
The Company is defendant in a lawsuit involving an explosion in a station. The
estimated risk exposure to the Company is TL 730,730. The Company has made a
provision amounting to TL 371,014 in the accompanying financial statements, based
on the court decision of the fault factor at 4/8 (provision for compensation).
23. Financial instruments
Financial assets of the Company include cash and cash equivalents, and trade and
other receivables and investments. Financial liabilities of the Company include trade
payables and bank borrowings. Exposure to credit, interest rate, and currency risks
arise in the normal course of the Company’s business.
Credit risk
The Company requires a certain amount of collateral in respect of financial assets.
Management has a credit policy in place and the exposure to credit risk is monitored
on an ongoing basis. Credit evaluations are performed on all customers requiring credit
over a certain amount.
At balance sheet date there were no significant concentrations of credit risk. The
maximum exposure to credit risk is represented by the carrying amount of each
financial asset in the balance sheet.
Faiz oran› riski
Kredilerin faiz oranlar› ve geri ödeme flartlar› finansal tablolar›n 19 numaral›
notunda belirtilmifltir. Faiz oranlar›ndaki herhangi bir olumsuz de¤iflim finansal
tablolar› etkileyebilir.
Interest rate risk
The interest rates and the terms of repayment of the loans are disclosed in note 19 to
the financial statements. Any adverse changes in the interest rates may affect the
financial statements.
Kambiyo riski
Kambiyo riski, kur oranlar›ndaki de¤iflimlerin bir finansal enstrüman›n de¤erini
dalgaland›rmas›d›r. fiirket, kambiyo riski ile, sat›fllarda, al›fllarda ve Türk Liras›
d›fl›ndaki bir para birimiyle yap›lan borçlanmalarda karfl›lafl›r. Bu riske en çok neden
olan para birimi ABD Dolar›’d›r. 31 Aral›k 2002 tarihi itibariyle, fiirket’in net aç›k
pozisyonu 117,647,123 TL’dir. fiirket, bu tür kur fark› dalgalanmalar›n›n etkilerinden
korunmak için herhangi bir finansal türev kullanmamaktad›r.
Foreign currency risk
Currency risk is the risk that the value of a financial instrument will fluctuate due to
changes in foreign exchange rates. The Company incurs foreign currency risk on sales,
purchases and borrowings that are denominated in a currency other than Turkish Lira.
The currencies giving rise to this risk are primarily US Dollars. As of 31 December
2002, the net short position of the Company amounted to TL 117,647,123. The
Company did not use any derivative financial instruments to hedge the effects of the
fluctuations in foreign exchange rates.
Hassasl›k analizi
fiirket faiz oran› ve kambiyo riski yönetimi için, kazançlardaki k›sa vadeli dalgalanmalar›n
etkisini azaltma amac›ndad›r. Bununla beraber, uzun vadede kur ve faiz oranlar›ndaki
kal›c› de¤ifliklikler fiirket’in kazançlar› üzerinde bir etkiye sahiptir. 31 Aral›k 2002
itibariyle, Türk Liras›’n›n di¤er yabanc› paralar karfl›s›ndaki yüzde birlik genel de¤er
kayb›, fiirket’in vergi öncesi kar›n› %7.32 azaltacakt›r.
Gerçek de¤erler
Kredilerin gerçek de¤erleri defter de¤erlerinden afla¤›da gösterildi¤i flekilde farkl›l›k
göstermektedir.
2002
Milyon TL
Defter De¤eri
Gerçek De¤er
Finansal Borçlar
Banka kredileri
128,018,336
116,280,088
Banka kredilerinin gerçek de¤erleri yöneticilerin bilanço gününde fiirkete uygun
olabilecek borç oran›na ba¤l› iskonto oran› kullan›larak iskonto edilmifl nakit ak›m›na
ba¤l›d›r. Di¤er finansal varl›klar›n ve borçlar›n defter de¤erleri gerçek de¤erlerine
yak›nd›r.
24. Taahhütler ve flarta ba¤l› olaylar
Tüprafl Petrol Rafineri ‹flleri A.fi. ile yapt›¤› sözleflme gere¤i, fiirket her Ekim ay›n›n
ortas›na kadar taahhüt etti¤i miktarlar› sat›n almak zorundad›r. Bununla beraber,
fiirket’in 30 gün öncesinden taahhüt etti¤i 3 ayl›k miktarlar› de¤ifltirme hakk› vard›r.
Aksi takdirde oluflabilecek eksi farklar için, fiirket afla¤›da belirtilen cezalar› ödemek
durumundad›r;
(Ton / ABD Dolar›)
(Ton/ ABD Dolar›)
Fark
Beyaz Ürün
Siyah Ürün
%5-10
4
3
%15
8
6
%25
12
9
%25.01 ve üstü
16
12
fiirket, 31 Aral›k 2002 tarihi itibariyle tüm taahhütlerini yerine getirememifl ve
11,550 TL (2001: 499,189 TL) tutar›nda ceza ödemifltir.
Conoco ile yap›lan anlaflma gere¤i, Conoco, fiirket’e pazarlama, ürün tedariki,
finansman, planlama ve muhasebe konular›nda servis sa¤layacakt›r. fiirket bu servis
karfl›l›¤›nda üçer ayl›k taksitlerle y›ll›k 500,000 ABD Dolar› ücret ödeyecektir.
Anlaflma taraflardan herhangi birinin di¤erine en az 3 ay öncesinden sözleflmeyi y›l
sonunda yenilemek istemedi¤ini bildirmemesi halinde bir sonraki y›l için yenilenecektir.
Türkpetrol Vakf› ile 29 A¤ustos 2000’de imzalanan ek sözleflme ile 17 Haziran
2000’de sona eren “Lisans Hakk›” anlaflmas› mevcut koflullar› ile 17 Haziran
2012’ye kadar uzat›lm›flt›r. ‹laveten, fiirket 17 Haziran 2006’ya kadar yapaca¤› beyaz
ürün sat›fllar› için ton bafl›na 0.30 ABD Dolar› lisans ücreti ödemeyi taahhüt
etmifltir. Bu ödemeler 17 Haziran 2006 ve 17 Haziran 2012 aras›ndaki dönemde
yap›lacak beyaz ürün sat›fllar› için ton bafl›na 0.35 ABD Dolar›’na ç›kar›lacakt›r.
Sensitivity analysis
In managing interest rate and currency risks the Company aims to reduce the impact
of short-term fluctuations on the Company’s earnings. Over the longer term, however,
permanent changes in foreign exchange and interest rates would have an impact on
the earnings. As of 31 December 2002, a general decrease of one percentage point in
the value of the TL against other foreign currencies would decrease the Company’s
income before tax by 7.32%.
Fair values
The fair value of interest bearing loans and borrowings differ from their carrying
amount as shown below:
2002
In millions of TL
Carrying amount
Fair value
Financial liabilities
Interest-bearing loans and borrowings
128,018,336
116,280,088
The fair values of borrowings are based on discounted cash flows using a discount rate
based upon the borrowing rate which the directors expect would be available to the
Company at the balance sheet date. The carrying amounts of other financial assets
and liabilities approximate their fair values.
24. Commitment and contingencies
According to a purchase agreement made with Tüprafl Petrol Rafineri ‹flleri A.fi., the
Company has to purchase the quantities committed in each mid-October. However,
the Company has a right to revise quarterly committed quantities before 30 days.
Otherwise, based on negative difference, the Company should pay the following
amounts as penalties;
(Tonnes/USD)
(Tonnes/USD)
Difference
White Product
Black Product
5-10%
4
3
15%
8
6
25%
12
9
25.01% and over
16
12
As of 31 December 2002, the Company did not buy fully its committed quantities and
it made payments amounting to TL 11,550 for penalty (2001: TL 499,189).
According to an agreement made with Conoco Incorporation, Conoco Incorporation will
render services to the Company mainly in the areas of marketing, product supply,
financing, planning, and accounting. The Company will pay a fee of USD 500,000 per
annum, payable in quarterly installments. Agreement is renewed for one-year periods
successively unless either of the parties gives at least three months’ notice to the other
to cancel it.
According to the side-agreement signed with Türkpetrol Vakf› on 29 August 2000, the
“Right of Licence”, which would expire on 17 June 2006, has been extended with the
existing terms until 17 June 2012. Additionally, the Company has committed to make
license fee payments amounting to USD 0.30 per ton of white goods sold until 17
June 2006. These particular payments will be raised to USD 0.35 per ton of white
goods sold in the period between 17 June 2006 and 17 June 2012.
67
fiirket, 21 istasyon sahibi ile protokol imzalam›fl ve istasyon imajlar›n› yenilemeleri için
kredi vermifltir. Bu protokollerin süreleri 1 sene ile 20 sene aras›nda de¤iflmektedir.
fiirket, afla¤›da belirtilen dönemlerde istasyon sahiplerine istasyon yenileme
çal›flmalar›nda kullan›lmak üzere 5,913,500 ABD Dolar› ödemeyi taahhüt etmifltir:
The Company has signed protocols with twenty-one station owners and gave them
loans to renew the image of their stations. The duration of these protocols is between
one and twenty years. According to these protocols, the Company has committed to
pay USD 5,913,500 to the station owners in the periods explained below:
ABD Dolar›
In USD Full
2003 Y›l›
342,500
2004 Y›l›
342,500
2005 Y›l›
533,500
2006-2021
Y›llar› aras›
4,695,000
Toplam
5,913,500
17 A¤ustos 1995 tarihinde BP Petrolleri A.fi.’nin Ambarl›’daki dolum tesislerinin
Turcas Petrolcülük A.fi., Tabafl Petrolcülük A.fi. ve Selyak Petrol Ürünleri Üretim ve
Pazarlama A.fi. taraf›ndan ortaklafla kullan›lmas› için bu dört flirket aras›nda bir
sözleflme yap›lm›flt›r. Bu sözleflmeye göre, her bir flirket bu tesislerin ve üzerine
kurulu olan arazinin 1/4 oran›nda hissesine sahiptir. Bu nedenle Turcas Petrolcülük
A.fi. ve Tabafl Petrolcülük A.fi., BP Petrolleri A.fi.’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.
Davan›n 2003 y›l› içinde bitmesi beklenmektedir. Davan›n sonuçland›r›labilmesi için
ortaklar aralar›nda 2003 y›l› A¤ustos ay›na kadar süreyi uzatan ek bir protokol
yapm›fllard›r.
25. ‹lgili taraflar
‹liflikteki konsolide mali tablolarla ilgili olarak hissedarlar, yöneticiler, yönetim kurulu
üyeleri ve kontrol edilen/ifltirak edilen flirketler, ba¤l› ortakl›klar ve ifltirakler ilgili
taraf olarak tan›mlanm›flt›r. Normal ifl ak›fl› çerçevesinde ilgili taraflarla birtak›m
ifllemler yap›lm›flt›r. Bu ifllemler normal ifl ak›fl› kurallar› içerisinde gerçekleflmifltir.
31 Aral›k tarihlerinde ilgili taraflarla yap›lan ifllemler afla¤›daki gibidir:
Milyon TL
‹lgili taraflardan alacaklar
‹lgili taraflara borçlar
Sat›fllar
Al›mlar
Komisyon giderleri
Servis giderleri
Temettü geliri
2002
24,434
284,110
80,258,100
3,164,360
995,364
868,339
15,665
2001
21,025
6,028,214
87,510,238
370,331
1,694,268
1,189,521
15,439
‹lgili taraflardan alacaklar, petrol ürünlerinin sat›fl›ndan do¤an ticari alacaklar› içerir.
‹lgili taraflara ödenecek toplam 284,110 TL tutar›ndaki borçlar›n 220,931 TL (2001:
273,169 TL) tutar›ndaki k›sm› Conoco Incorporation’a ödenecek olan hizmet
giderlerinden, 8,032 TL (2001: 11,217 TL) tutar›ndaki k›sm› ortaklara ödenecek
temettü borcundan ve 55,147 TL tutar›ndaki k›sm› ise Anadolu Tasfiyehanesi A.fi.’ye
olan borçtan oluflmaktad›r (31 Aral›k 2001 tarihi itibariyle 5,677,837 TL tutar›nda ilgili
taraflara olan borçlar›n 3,000,000 ABD Dolarl›k k›sm› Conoco Incorporation’dan al›nan
k›sa vadeli krediden oluflmaktad›r).
Al›mlar, Ambarl› Depolama Hizmetleri Ltd. fiti.’den yap›lan petrol al›mlar›ndan,
sat›fllar›n büyük k›sm› ise fiirket’in ortaklar›ndan olan merhum Baha Kaya Alp
Baban’a ait istasyonlara yap›lan sat›fllardan oluflmaktad›r.
Year 2003
342,500
Year 2004
342,500
Year 2005
533,500
Years between
2006-2021
4,695,000
Total
5,913,500
On 17 August 1995, an agreement was made between Turcas Petrolcülük A.fi., Tabafl
Petrolcülük A.fi., Selyak Petrol Ürünleri Üretim ve Pazarlama A.fi., and BP Petrolleri A.fi.
in order to use the Filling Facilities of BP Petrolleri A.fi. in Ambarl› region jointly.
According to this agreement, each company has 1/4 share of all land and of assets
related to this facility. 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 third parties (around 600 partners),
related to the ownership of the land where this facility was built, Turcas Petrolcülük A.fi.
has made an agreement with other three companies in order to sell its own land in
Büyükçekmece region and obtained USD 1,000,000 from BP Petrolleri A.fi. and Selyak
Petrol Ürünleri Üretim ve Pazarlama A.fi.. The dispute is expected to be finalised in
2003, and to end this dispute shareholders made a side agreement to lengthen the
period until August 2003.
25. Related parties
For the purpose of accompanying consolidated financial statements, the shareholders,
key management personnel and the Board members and the companies controlled
by/affiliated with them and; associates and investments are considered and referred to
as the related parties. A number of transactions are entered into with the related
parties in the normal course of business. These transactions were carried out on an
arms-length basis during the normal course of business. At 31 December, related party
balances are as follows:
In millions of TL
Due from related parties
Due to related parties
Sales
Purchases
Commission expense
Service expenses
Dividend income
2002
24,434
284,110
80,258,100
3,164,360
995,364
868,339
15,665
2001
21,025
6,028,214
87,510,238
370,331
1,694,268
1,189,521
15,439
Due from related parties includes trade receivable from shareholders and investees
arising from the sales of oil products.
Due to related parties of TL 284,110 is composed of service charges payable to
Conoco Incorporation amounting to TL 220,931 (2001: TL 273,169), dividends
payable to shareholders amounting to TL 8,032 (2001: TL 11,217) and payables to
Anadolu Tasfiyehanesi A.fi. amounting to TL 55,147 (As of 31 December 2001, TL
5,677,837 of the payable to shareholders represents short-term loans obtained from
Conoco Incorporation amounting to USD 3,000,000).
“Purchases” represent oil purchases from Ambarl› Depolama Hizmetleri Ltd. fiti.
“Sales” mainly consist of the sales to stations owned by Baha Kaya Alp Baban
(deceased).
Komisyonlar ise fiirket ortaklar›na, fiirket’in kulland›¤› kredilere istinaden vermifl
olduklar› kiflisel kefaletlerden dolay› ödenmifltir.
Commission has been paid to the shareholders of the Company in return of their
personal guarantees given for the borrowings used by the Company.
26. Önemli hususlar
31 Aral›k 2002 tarihi itibariyle, yasal defterlerde özkaynaklar eksi 9,692,597 TL’dir.
fiirket yönetimi, sabit k›ymetlerin de¤erlenmesi yoluyla ilave bir özsermaye
yaratm›flt›r. Türk Ticaret Kanunu’nun “fiirket’in mali durumunun bozulmas› hali" ile
ilgili 324. maddesi kapsam›ndan ç›kmas› için Sermaye Piyasas› Kurulu, fiirket’e
göndermifl oldu¤u 12 Temmuz 2001 tarih ve SK-33/5 say›l› yaz›ya istinaden,
‹stanbul 1. Ticaret Mahkemesi’nden fiirket’in sabit k›ymetlerinin de¤erinin
belirlenebilmesi amac›yla bilirkifli tayin edilmesini talep etmifltir. De¤er tespiti
çal›flmalar› 30 Haziran 2001 tarihi itibariyle s›n›rl› denetimden geçmifl ara mali
tablolar üzerinden gerçekleflmifltir. fiirket, 31 Aral›k 2002 tarihi itibariyle Sermaye
Piyasas› Kurulu prensiplerine göre denetlenmifl mali tablolar›na ek teflkil etmek
suretiyle sabit k›ymetler de¤er tespit raporunu ve bu de¤erleme sonucu oluflan
40,632,769 TL pozitif özkaynak tutar›n› Sermaye Piyasas› Kurulu’na bildirecektir.
26. Significant matters
As of 31 December 2002, the statutory shareholders’ deficit amounted to TL
9,692,597. The Company’s management arranged for additional equity by means of
appraisal of its fixed assets. In order to release the Company from the scope of article
324 “Position of Company’s loosing its financial strength” according to Turkish
Commercial Law, the Capital Markets Board has required the appraisal of its fixed
assets by experts from the 1. Istanbul Trade Court in accordance with the letter dated
12 July 2001 numbered SK-33/5. Accompanying the financial statements as of 31
December 2002 audited in accordance with the principles promulgated by Capital
Markets Board of Turkey, the Company will submit to the Capital Markets Board the
valuation report of its fixed assets, which shows a positive sharholders’ of TL
40,632,769.
Produced by Finar Corporate Design.
Turcas Petrol A.fi.
Emirhan Cad. No: 145 Dikilitafl Befliktafl 80700 Istanbul
Tel: (0.212) 259 00 00 - 17 Fax: (0.212) 259 00 18 - 19