Dear Shareholders and Stakeholders,

We have witnessed global developments impacting the entire world for a long time. The climate crisis, natural disasters, and economic and political developments have guided our activities.

Last year, we experienced a period of macro-scale uncertainty and volatility in the business world, the financial sector, and households due to global developments, such as the Israeli-Hamas war that succeeded the Russian-Ukrainian war and high inflation in the international and domestic economy. Although we went through a difficult period both in our country and worldwide, we continued to work with all our strength in all the sectors in which we operate without pessimism and with the awareness of our responsibility towards our society.

Within the framework of our vision as an energy- and oil-focused investment company, we successfully overcame challenging times thanks to our right partnerships, long-term strategies, determination to work, and commitment to investing.

Our subsidiary in the retail sector, Shell & Turcas, the flagship of our investment portfolio, continued to be the market leader in retail fuel sales by serving 1 million customers daily with our approximately 20 thousand team members. We also maintain our leadership position in energy transformation with our alternative and renewable energy investments. With TRUGO, a subsidiary of the domestic automobile initiative, TOGG, we continue our efforts for electric vehicle users. I am confident that this transition we have realised for electric vehicles is a crucial project for our country.

We continue to create added value for our country with our subsidiary, RWE & Turcas, in the field of electricity. With our 800MW Denizli Natural Gas Combined Cycle Power Plant, we contribute to our country’s energy production and economy.

As we move confidently into the world of tomorrow with our human resources, our most precious capital, we will endeavour to remain at the top of our sectors within the framework of our corporate governance approach. I sincerely thank our stakeholders, Board of Directors, shareholders, and colleagues who have walked with Turcas for decades.

With my sincere regards,

Erdal AKSOY
Chairperson of the Board of Directors