Turcas Petrol A.Ş. (“Turcas”) operates in liberalising Turkish Energy Market with its 87 years of deep experience and diversified portfolio. Turcas has an investment holding structure with participations in leading oil and energy companies. Turcas’ vision is to become the highest value generating “Energy Focused Investment Company” in Turkey.

Turcas’ 30% subsidiary in fuel distribution and lubricants business, Shell & Turcas Petrol A.Ş. reached a turnover of 22.2 billion TL in 2017 thanks to its network of 1,014 Shell-branded fuel stations nationwide, oil storage terminals, lubricants production and marketing activities. With this turnover, it is not only a leader of the energy sector, but also among the top 10 largest companies in Turkish economy. In the field of energy, Turcas and its German partner RWE took the 800 MW Denizli Natural Gas Combined Cycle Power Plant, constructed with a €600 million joint investment, into operation in 2013. Supporting Turkey’s network supply security by its high technical capability, Denizli Power Plant is capable of meeting 2% of Turkey’s power demand solely. Focusing on renewable energy investments in recent years, Turcas took Turcas Kuyucak Geothermal Power Plant, in which Turcas has 92% stake, into operation in Aydin with an installed capacity of 18 MW in the fourth quarter of 2017.

STAŞ continues to be the market leader in gasoline and lubricants sales as of first half of 2018 with 25% and 26% market share respectively. STAŞ is also market leader with 19% market share in terms of under canopy sales. STAŞ maintains its leadership in throughput ratio (white product sales/station) which is the key indicator of profitability in the sector.

STAŞ's network consists of 1.014 nationwide Shell-branded stations as of first half of 2018.

STAŞ achieved 560 million TL EBITDA and 161 million TL net income in 1H18 indicating 41% and 63% y/y increase respectively.

800 MW Denizli natural gas fired combined cycle power plant which has been jointly constructed by RWE (70%) and Turcas (30%) is operational since June 2013.

RTG generated 1.17 billion kWh electricity in 1H18 and recorded 19 million TL EBITDA.

18MW geothermal power plant project in Aydın Province, which is 92% owned by Turcas, started its commercial operations in the fourth quarter of 2017.

In 1H18, TKG generated an EBITDA of 16 million TL thanks to the feed-in tariff (FIT) mechanism (USc 11.8/kWh) for the first 5 years of operation.

TKG financials are fully consolidated under Turcas IFRS consolidated financials.

Yes, Turcas is a member of Borsa İstanbul Corporate Governance Index since 2010 and increases its corporate governance rating continuously. As of 2 March 2018, Turcas’ corporate governance rating is 9.57 out of 10 (2017: 9.48). This achievement confirms that Turcas complies with Capital Markets Board’s corporate governance principles to a great extent. Turcas has the highest corporate governance rating among energy companies in Turkey.

The Board of Directors of Turcas takes into consideration the Company’s Articles of Association, relevant laws, legislation, market conditions, planned capex investments and their financing while deciding on the distribution of dividends.

You can access our Financial Statements under Investor Relations menu, at our website.

You can access our annual reports under Annual Reports in the Investor Relations menu, at our website.

You can access our Corporate Governance Compliance Report in Corporate Governance Compliance Report section under the Investor Relations menu, at our website.

Our Investor Presentation can be found under Investor Presentation at our website.