Extensive industrial know-how in Turkish Energy Business
Active in Fuel Distribution-Lubricants and Power Generation
Carved-inBusiness Partnership culture
Targeting to Further Diversify its portfolio
54% owned by Aksoy Girişimcilik Enerji ve Turizm A.Ş. (previous title Aksoy Holding) and traded on Borsa Istanbul since 1992
A history full of strong partnerships with global major players
Rated by Kobirate for Corporate Governance (Latest Rating: 9.58 out of 10)
▪
#2
among energy companies listed in BIST Corporate Governance Index
Existing Operations
Market Position
Key Investment
Highlights
Joint Venture with
Joint Venture with
Joint Venture with
Holding 30% shares of
Holding 30% shares of
Holding 13.1%(1) shares of
Shell & Turcas JV
RWE & Turcas JV
ATAŞ Oil Terminal
Since 2006
Since 2009
Since 1970
Shell & Turcas: Market leader in under canopy sales, #1 in Throughput ratio (sales per station);
RWE & Turcas: One of the most sizeable (800 MW) and efficient (57%) CCPPs in the Turkish Power market;
ATAŞ: 3rd largest Oil Terminal in Turkey with a total capacity of 577K m3;
Turcas is the only listed Company in Turkey that provides exposure to local operations of global energy giants like Shell and RWE
Strong cash inflows from Shell & Turcas and RWE & Turcas thanks to excellent performance
Portfolio Hedge via exposure in different fields of energy (fuel distribution and conventional power generation)
ATAŞ' direct ownership is as follows: 68% BP; 27% Shell & Turcas; and 5% Turcas. Since Turcas owns 30% of Shell & Turcas, total of
Turcas' direct and indirect ownership at ATAŞ becomes 13.1%
2
Turcas: A Sustainable Investment Platform
Group Structure
Bloomberg Ticker: TRCAS.TI
Reuters Ticker: TRCAS.IS
Free Float: 28% **
30%5%30%
1,128 Nationwide Shell
800 MW
Branded Fuel Stations**
Gas Fired
Lubricants Plant
Power Plant
in Derince
ATAŞ appears twice on the Group Structure due to both direct and indirect shareholdings which in total make Turcas ownership at ATAŞ 13.1%.
As end of June 2022
Equity Pick Up Consolidation under IFRS
Classified under Financial Assets in IFRS
3
Turcas: A Sustainable Investment Platform
Corporate Milestones
1931
1953
1962
1996
2005
2006
2006
▪Foundation of
▪Lubricants
▪Start of
▪Acquisition by
▪Acquisition of
▪Merger with
▪Foundation of
Türkpetrol Ltd.
sales
operations at
Conoco,
Conoco's
Royal Dutch
Socar &
partnership
Ataş Refinery
Aksoy and
shares in
Shell in fuel
Turcas JV
with Burmah
Partners
Turcas by
retail under
Castrol
Aksoy Holding
Shell & Turcas
JV
2007
2008
2009
2011
2013
2014
2016
2018
2022
▪Partnership▪Acquisition ▪Acquisition of ▪Divestment▪Start of
▪Divestment▪Acquisition of ▪Start of
▪Sale of %100
with E.ON
of 51%
E.ON shares
from
operations
from STAR
46% shares
operations at
shares of
AG under
shares of
by RWE AG & Petkim
at Denizli
refinery
of Turcas
Turcas
Turcas
E.ON &
Petkim by
Establishment
Power Plant
Kuyucak
Kuyucak
Kuyucak
Turcas JV
Socar &
of RWE &
Geothermal
Geothermal
Geothermal
Turcas
Turcas JV
PP from BM
PP
PP to Albioma
Engineering
SA
4
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Turcas Petrol AS published this content on 17 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 August 2022 08:13:03 UTC.
Turcas Petrol AS is a Turkey-based investment company, focused in the oil and energy sector. Its joint venture, Shell and Turcas Petrol, is engaged in retail and commercial sales, marketing and distribution of fuel products and lubricants. Its joint venture, RWE and Turcas South Power Generation, operates a natural gas fired combined cycle power plant in the city of Denizli, Turkey. The Company also develops geothermal, solar and wind power projects and invests in a geothermal power plant site at Aydin district, Turkey under the name of Turcas Kuyucak Geothermal Power Generation. Its segments are: Oil, which includes lubricants, engine oil and fuel products; Electricity, which consists of the production, wholesale and distribution of electricity products, and Natural Gas, which consists of wholesale business of natural gas. Its subsidiaries include: Turcas Enerji Holding AS, Turcas Elektrik Uretim AS, Turcas Elektrik Toptan Satis AS and Turcas Yenilenebilir Enerji Uretim AS.