Income Statement Turcas Petrol

Stocks

TRCAS

TRATRCAS92E6

Independent Power Producers

Delayed Borsa Istanbul 02:55:03 2026-10-07 EDT			5-day change	1st Jan Change
45.12 ^TRY	+0.89%		+9.30%	+7.74%

09-20	Turcas Holding A.S.(IBSE:TRCAS) dropped from S&P Global BMI Index	CI
08-19	Turcas Holding A.S. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2026	CI

12c657402430c9995d84.c8obvtoXhKFMspQWyhfR9xRTqIQaz94AB7ELE7AoeEo.NPN6-qxw9Ol9hNNAkHO7pCUA5_4r_JNGZoQ6a-Z4PXgKpk_yn3LQwgSDzQ

Published financial data: TURCAS PETROL

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (TRY)	2022 (TRY)	2023 (TRY)	2024 (TRY)	2025 (TRY)
Revenues - (Utility Template)	-	-	-	-	-
Total Revenues	-	-	-	-	-
Operations And Maintenance	2.14M	4.37M	433K	-	-
Selling General & Admin Expenses, Total	25.68M	43.49M	118M	209M	327M
Other Operating Expenses	-7.83M	45.53M	16.49M	-273M	42.39M
Total Operating Expenses	19.98M	93.39M	135M	-63.79M	369M
Operating Income (REIT / Utility Template)	-19.98M	-93.39M	-135M	63.79M	-369M
Interest Expense, Total	-20.8M	-18.52M	-49.95M	-20M	-
Interest and Investment Income	88.84M	506M	572M	341M	424M
Net Interest Expenses	68.04M	488M	522M	321M	424M
Income (Loss) on Equity Invest.	174M	431M	-	694M	738M
Currency Exchange Gains (Loss)	-259M	-66.21M	-105M	42.61M	129M
Other Non Operating Income (Expenses)	-4.63M	-15.15M	54.06M	-180M	-224M
EBT, Excl. Unusual Items	-41.56M	744M	337M	942M	698M
Gain (Loss) on Sale of Investments	-	-	-	-29.16M	-52.81M
Asset Writedown	-	-	-	-	-
Legal Settlements	-	-2.36M	-3.87M	-6.34M	-
EBT, Incl. Unusual Items	-41.56M	741M	333M	906M	645M
Income Tax Expense	-5.23M	4.7M	-35.97M	8.35M	29.45M
Earnings From Continuing Operations	-36.33M	737M	369M	898M	616M
Earnings Of Discontinued Operations	-43.77M	56.68M	-	-	-
Net Income to Company	-80.1M	793M	369M	898M	616M
Minority Interest	-	-	-	-	-
Net Income - (IS)	-80.1M	793M	369M	898M	616M
Net Income to Common Incl Extra Items	-80.1M	793M	369M	898M	616M
Net Income to Common Excl. Extra Items	-36.33M	737M	369M	898M	616M
Per Share Items
Net EPS - Basic	-0.31	3.1	1.44	3.51	2.41
Basic EPS - Continuing Operations	-0.14	2.88	1.44	3.51	2.41
Basic Weighted Average Shares Outstanding	256M	256M	256M	256M	256M
Net EPS - Diluted	-0.31	3.1	1.44	3.51	2.41
Diluted EPS - Continuing Operations	-0.14	2.88	1.44	3.51	2.41
Diluted Weighted Average Shares Outstanding	256M	256M	256M	256M	256M
Normalized Basic EPS	-0.1	1.82	0.82	2.3	1.71
Normalized Diluted EPS	-0.1	1.82	0.82	2.3	1.71
Dividend Per Share	-	-	-	2.02	-
Payout Ratio	-	-	-	15.32	78
Supplemental Items
Utility Revenues	-	-	-	-	-
EBITDA	-17.15M	-90.56M	-120M	93.05M	-330M
EBITA	-19.82M	-93.34M	-134M	64.5M	-369M
EBIT	-19.98M	-93.39M	-135M	63.79M	-369M
EBITDAR	-17.07M	-90.43M	-120M	-	-
Effective Tax Rate - (Ratio)	12.58	0.63	-10.8	0.92	4.56
Total Current Taxes	-	-	-	-	55.26K
Total Deferred Taxes	-5.23M	4.7M	-35.97M	8.35M	29.39M
Normalized Net Income	-25.97M	465M	211M	589M	436M
Interest on Long-Term Debt	25.43M	33.67M	49.95M	20M	-
Non-Cash Pension Expense	78.65K	122K	-	-	-
Supplemental Operating Expense Items
Marketing Expenses	-	-	-	-	-
Selling and Marketing Expenses	-	-	-	-	-
General and Administrative Expenses	25.6M	43.36M	118M	209M	327M
Net Rental Expense, Total	81.84K	129K	13.97K	-	-
Imputed Operating Lease Interest Expense	16.09K	31.13K	10.22K	-	-
Imputed Operating Lease Depreciation	65.75K	97.89K	3.75K	-	-
Maintenance & Repair Expenses, Total	2.14M	4.37M	433K	-	-

Fiscal Period: December	2021 (TRY)	2022 (TRY)	2023 (TRY)	2024 (TRY)	2025 (TRY)
Assets
Cash And Equivalents	20.67M	31.53M	180M	270M	845M
Short Term Investments - (Utility / Insurance Templates)	96.42M	139M	220M	263M	320M
Accounts Receivable, Total	553K	437K	484K	343K	312K
Other Receivables	74.19M	1.38M	796K	1.1M	3.33M
Accounts Receivable (Summary Subtotal)	74.74M	1.82M	1.28M	1.44M	3.64M
Prepaid Expenses	364K	422K	1.48M	4.95M	9.63M
Notes Receivable (Collected)	10.05K	19.55K	7.19K	7.19K	-
Other Current Assets, Total	384M	118K	371K	605K	25K
Total Current Assets	577M	173M	402M	540M	1.18B
Gross Property Plant And Equipment	49M	56.32M	470M	704M	952M
Accumulated Depreciation	-28.54M	-31.31M	-299M	-460M	-637M
Net Property Plant And Equipment	20.46M	25M	172M	244M	315M
Other Intangibles, Total	66.97K	18.17K	281K	784K	708K
Long-Term Investments - (Utility Template)	962M	1.28B	6.23B	9.91B	12.68B
Loans Receivable Long-Term - (Utility Template)	-	-	-	-	-
Deferred Tax Assets Long-Term (Collected)	5.1M	605K	17.22M	16.54M	-
Other Long-Term Assets, Total	27.96K	11.22M	22.26M	9.68M	42.82M
Total Assets	1.56B	1.49B	6.84B	10.73B	14.22B
Liabilities
Accounts Payable, Total	938K	1.93M	3.71M	3.12M	9.42M
Accrued Expenses, Total	1.67M	3.02M	6.55M	5.52M	22.73M
Short-Term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	221M	85.1M	222M	-	-
Current Income Taxes Payable	330K	788K	1.41M	9.73M	55.26K
Other Current Liabilities - (Bank / Utility Template)	561M	4.32M	8.27M	20.38M	14.64M
Total Current Liabilities	785M	95.15M	242M	38.74M	46.85M
Long-Term Debt	586M	335M	178M	-	-
Unearned Revenue Non Current	32.28K	32.28K	32.28K	32.28K	32.28K
Pension & Other Post Retirement Benefits	553K	1.66M	2.29M	4.09M	5.82M
Deferred Tax Liability Non-Current	-	-	-	-	7.92M
Other Non Current Liabilities, Total	744K	744K	744K	744K	744K
Total Liabilities	1.37B	433M	423M	43.61M	61.36M
Common Stock, Total	256M	256M	256M	256M	256M
Retained Earnings	49.95M	843M	2.89B	5.58B	7.42B
Treasury Stock	-8.45M	-8.45M	-8.45M	-8.45M	-8.45M
Comprehensive Income and Other	-106M	-29.65M	3.28B	4.85B	6.48B
Total Common Equity	191M	1.06B	6.42B	10.68B	14.16B
Minority Interest	-	-	-	-	-
Total Equity	191M	1.06B	6.42B	10.68B	14.16B
Total Liabilities And Equity	1.56B	1.49B	6.84B	10.73B	14.22B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	256M	256M	256M	256M	256M
ECS Total Common Shares Outstanding	256M	256M	256M	256M	256M
Book Value / Share	0.75	4.15	25.12	41.81	55.4
Tangible Book Value	191M	1.06B	6.42B	10.68B	14.15B
Tangible Book Value Per Share	0.75	4.15	25.12	41.8	55.39
Total Debt	808M	420M	400M	0	0
Net Debt	691M	249M	824K	-533M	-1.16B
Debt Equivalent Oper. Leases	655K	1.03M	112K	-	-
Minority Interest, Total (Incl. Fin. Div)	-	-	-	-	-
Equity Method Investments, Total	861M	1.13B	5.89B	9.53B	12.1B
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	-	-	-	-	-
Buildings, Total	14.16M	14.16M	120M	174M	227M
Machinery, Total	34.74M	42.05M	349M	528M	722M
Full Time Employees	87	42	39	37	37
Accumulated Allowance for Doubtful Accounts (Supple)	685K	685K	685K	685K	685K

Fiscal Period: December	2021 (TRY)	2022 (TRY)	2023 (TRY)	2024 (TRY)	2025 (TRY)
Net Income	-80.1M	793M	369M	898M	616M
Depreciation, Depletion & Amortization	2.66M	2.78M	14.44M	28.55M	38.41M
Amortization of Goodwill and Intangible Assets - (CF)	165K	48.8K	500K	706K	480K
Total Depreciation, Depletion & Amortization	2.83M	2.83M	14.94M	29.25M	38.89M
(Gain) Loss On Sale of Asset - (CF)	13.06K	-318M	-17.36M	-452	243K
(Gain) Loss on Sale of Investments - (CF)	-48.87M	-144M	-101M	6.28M	-223M
Total Asset Writedown	-	-	-	-	-
(Income) Loss On Equity Investments - (CF)	-175M	-431M	-89.56M	-694M	-739M
Change in Accounts Receivable	-1.43K	116K	-47.65K	142K	31.07K
Change in Accounts Payable	413K	993K	1.77M	-583K	6.3M
Change in Other Net Operating Assets (Collected)	-4.05M	59.04M	-3.93M	28.35M	-28.09M
Other Operating Activities	251M	54.18M	-380M	-294M	-114M
Net Cash From Discontinued Operations	155M	25.07M	-	-	-
Cash from Operations	101M	42.56M	-206M	-26.19M	-442M
Capital Expenditure	-3.07M	-7.32M	-46.37M	-25.2M	-33.61M
Sale of Property, Plant, and Equipment	-	-	17.64M	25.18K	88.62K
Cash Acquisitions	-	-	-	-	-
Divestitures	-	215M	-	-	-
Purchase / Sale of Intangible Assets	-	-	-	-1.08M	-162K
Sale (Purchase) of Real Estate Properties (Collected)	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-	82.5M	-	-	-160M
Other Investing Activities, Total	105M	213M	608M	632M	1.54B
Cash from Investing	102M	504M	579M	606M	1.35B
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	-	-	-	-	-
Long-Term Debt Repaid, Total	-187M	-554M	-184M	-453M	-
Total Debt Repaid	-187M	-554M	-184M	-453M	-
Common Dividends Paid	-	-	-	-138M	-480M
Common & Preferred Stock Dividends Paid	-	-	-	-138M	-480M
Other Financing Activities, Total	-60.5M	-18.43M	-41.34M	100M	150M
Cash from Financing	-247M	-572M	-225M	-491M	-331M
Foreign Exchange Rate Adjustments	-	-	-20.42M	-79.77M	-83.49M
Net Change in Cash	-44.34M	-25.82M	128M	9.6M	492M
Supplemental Items
Cash Interest Paid	20.72M	18.43M	41.34M	14.04M	-
Cash Income Tax Paid (Refund)	-272K	-140K	288K	3.49M	7.87M
Net Debt Issued / Repaid	-187M	-554M	-184M	-453M	-
Levered Free Cash Flow	49.81M	-171M	-143M	37.82M	-234M
Unlevered Free Cash Flow	62.81M	-160M	-111M	50.32M	-234M
Change In Net Working Capital	-75.54M	96.69M	-4.26M	-7.48M	8M

Fiscal Period: December	2021 (TRY)	2022 (TRY)	2023 (TRY)	2024 (TRY)	2025 (TRY)
Profitability
Return on Assets	-0.87	-3.82	-1.23	0.37	-1.63
Return on Total Capital	-1.11	-4.71	-1.24	0.38	-1.64
Return On Equity %	-13.08	117.7	5.9	8.71	4.38
Return on Common Equity	-13.08	117.7	5.9	8.71	4.38
Margin Analysis
Gross Profit Margin %	-	-	-	-	-
SG&A Margin	-	-	-	-	-
EBITDA Margin %	-	-	-	-	-
EBITA Margin %	-	-	-	-	-
EBIT Margin %	-	-	-	-	-
Income From Continuing Operations Margin %	-	-	-	-	-
Net Income Margin %	-	-	-	-	-
Net Avail. For Common Margin %	-	-	-	-	-
Normalized Net Income Margin	-	-	-	-	-
Levered Free Cash Flow Margin	-	-	-	-	-
Unlevered Free Cash Flow Margin	-	-	-	-	-
Asset Turnover
Asset Turnover	-	-	-	-	-
Fixed Assets Turnover	-	-	-	-	-
Receivables Turnover (Average Receivables)	-	-	-	-	-
Short Term Liquidity
Current Ratio	0.73	1.82	1.66	13.95	25.14
Quick Ratio	0.24	1.82	1.65	13.81	24.94
Operating Cash Flow to Current Liabilities	0.13	0.45	-0.85	-0.68	-9.44
Days Sales Outstanding (Average Receivables)	-	-	-	-	-
Average Days Payable Outstanding	3.37K	119.83	2.9K	-	-
Long Term Solvency
Total Debt/Equity	423.12	39.63	6.23	-	-
Total Debt / Total Capital	80.88	28.38	5.87	-	-
LT Debt/Equity	307.11	31.61	2.77	-	-
Long-Term Debt / Total Capital	58.71	22.64	2.61	-	-
Total Liabilities / Total Assets	87.79	28.98	6.18	0.41	0.43
EBIT / Interest Expense	-0.96	-5.04	-2.7	3.19	-
EBITDA / Interest Expense	-0.82	-4.89	-2.4	4.65	-
(EBITDA - Capex) / Interest Expense	-0.97	-5.28	-3.33	3.39	-
Total Debt / EBITDA	-47.1	-4.64	-3.34	-	-
Net Debt / EBITDA	-40.27	-2.75	-0.01	-5.73	3.53
Total Debt / (EBITDA - Capex)	-39.95	-4.29	-2.41	-	-
Net Debt / (EBITDA - Capex)	-34.16	-2.55	-0	-7.86	3.2
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-	-	-	-	-
Gross Profit, 1 Yr. Growth %	-105.39	104.28	-94.22	-	-
EBITDA, 1 Yr. Growth %	-133.22	427.95	-22.12	-153.72	-371.26
EBITA, 1 Yr. Growth %	-146.48	371.01	-19.97	-133.24	-536.82
EBIT, 1 Yr. Growth %	-149.7	367.36	-20.02	-132.75	-542.23
Earnings From Cont. Operations, 1 Yr. Growth %	-70.7	-2.13K	-45.1	-24.73	-47.61
Net Income, 1 Yr. Growth %	-35.41	-1.09K	-52	-24.73	-47.61
Diluted EPS Before Extra, 1 Yr. Growth %	-70.7	-2.13K	-45.1	-24.73	-47.61
Normalized Net Income, 1 Yr. Growth %	-68.85	-1.89K	-51.3	-17.86	-43.38
Net Property, Plant and Equip., 1 Yr. Growth %	-91.07	22.17	22.61	-1.36	-1.51
Accounts Receivable, 1 Yr. Growth %	-93.72	-21.03	-32.69	-51.01	-30.53
Total Assets, 1 Yr. Growth %	19.26	-4.5	0.22	1.78	1.26
Tangible Book Value, 1 Yr. Growth %	-39.38	455.75	5.32	7.6	1.24
Cash From Operations, 1 Yr. Growth %	88.41	-57.77	-133.13	-93.05	1.57K
Capital Expenditures, 1 Yr. Growth %	-88.1	138.64	254.05	-62.36	1.88
Levered Free Cash Flow, 1 Yr. Growth %	-1.27K	-443.53	-33.77	-118.86	-509.97
Unlevered Free Cash Flow, 1 Yr. Growth %	288.82	-354	-43.03	-132.38	-418.52
Dividend Per Share, 1 Yr. Growth %	-	-	-	-	-
Common Equity, 1 Yr. Growth %	-47.65	455.56	5.31	7.6	1.23
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-	-	-	-
Gross Profit, 2 Yr. CAGR %	-69.41	-66.82	-55.01	-	-
EBITDA, 2 Yr. CAGR %	-23.28	32.43	164.47	-22.28	38.1
EBITA, 2 Yr. CAGR %	-1.33	47.96	160.44	-38.03	37.85
EBIT, 2 Yr. CAGR %	5.75	52.41	159.84	-38.51	37.69
Earnings From Cont. Operations, 2 Yr. CAGR %	12.55	143.71	218.75	15.58	-28.16
Net Income, 2 Yr. CAGR %	67.12	152.91	114.66	8.07	-28.16
Diluted EPS Before Extra, 2 Yr. CAGR %	12.55	143.74	218.79	15.58	-28.17
Normalized Net Income, 2 Yr. CAGR %	12.78	136.1	184.76	16.68	-21.98
Net Property, Plant and Equip., 2 Yr. CAGR %	-68.97	-66.97	189.62	32.14	12.76
Accounts Receivable, 2 Yr. CAGR %	-67.27	-77.73	-6.42	-31	-33.25
Total Assets, 2 Yr. CAGR %	8.96	6.72	109.16	25.34	16.15
Common Equity, 2 Yr. CAGR %	-39.43	70.54	479.85	32.39	19.41
Tangible Book Value, 2 Yr. CAGR %	-36.16	83.54	479.93	32.39	19.41
Cash From Operations, 2 Yr. CAGR %	45.84	-10.8	43	-79.48	8.34
Capital Expenditures, 2 Yr. CAGR %	-50.12	-46.71	288.78	38.71	-29.15
Levered Free Cash Flow, 2 Yr. CAGR %	62.8	533.28	69.26	-58.1	7.96
Unlevered Free Cash Flow, 2 Yr. CAGR %	28.58	214.26	33.23	-49.29	22.62
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	-	-	-
Gross Profit, 3 Yr. CAGR %	-58.03	-42.4	-77.82	-	-
EBITDA, 3 Yr. CAGR %	-8.36	45.93	32.45	75.71	28.96
EBITA, 3 Yr. CAGR %	12.37	66.14	46.63	48.2	29.98
EBIT, 3 Yr. CAGR %	20.11	73.55	49.72	47.25	29.84
Earnings From Cont. Operations, 3 Yr. CAGR %	-34.71	195.03	43.85	191.31	-2.88
Net Income, 3 Yr. CAGR %	-14.35	202.42	43.85	123.81	-7.14
Diluted EPS Before Extra, 3 Yr. CAGR %	-34.19	195.06	43.86	191.33	-2.89
Normalized Net Income, 3 Yr. CAGR %	-32.11	183.38	36.19	183	0.3
Net Property, Plant and Equip., 3 Yr. CAGR %	-53.94	-51	-9.18	128.6	31.06
Accounts Receivable, 3 Yr. CAGR %	-47.46	-56.1	-61.97	-14.75	-24.35
Total Assets, 3 Yr. CAGR %	4.98	4.28	73.44	90	27.7
Common Equity, 3 Yr. CAGR %	-30.17	26.79	160.13	282.48	32.43
Tangible Book Value, 3 Yr. CAGR %	-27.76	31.32	173.18	282.52	32.43
Cash From Operations, 3 Yr. CAGR %	57.88	-3.52	56.76	-36.18	-10.74
Capital Expenditures, 3 Yr. CAGR %	-52.21	-15.95	21.61	101.76	36.9
Levered Free Cash Flow, 3 Yr. CAGR %	-7.14	108.81	222.19	-8.77	2.74
Unlevered Free Cash Flow, 3 Yr. CAGR %	12.43	61.34	90.39	-7.12	6.09
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-	-	-
Gross Profit, 5 Yr. CAGR %	16.84	26.63	-56.85	-	-
EBITDA, 5 Yr. CAGR %	25.73	74.49	40.02	26.14	44.95
EBITA, 5 Yr. CAGR %	38.38	92.47	57.27	25.94	53.96
EBIT, 5 Yr. CAGR %	38.79	93.58	63.54	28.99	55.82
Earnings From Cont. Operations, 5 Yr. CAGR %	15.6	62.59	23.1	99.13	37.78
Net Income, 5 Yr. CAGR %	34.78	64.67	23.69	99.13	37.78
Diluted EPS Before Extra, 5 Yr. CAGR %	16.34	64.04	23.7	99.15	37.78
Normalized Net Income, 5 Yr. CAGR %	15.89	53.24	20.46	95.87	39.23
Net Property, Plant and Equip., 5 Yr. CAGR %	-15.14	-33.61	-3.9	2.83	6.58
Accounts Receivable, 5 Yr. CAGR %	2.3	0.08	-33.81	-41.87	-48.74
Total Assets, 5 Yr. CAGR %	6.26	2.07	38.31	52.11	61.07
Common Equity, 5 Yr. CAGR %	-21.43	9.13	62.83	83.01	107.88
Tangible Book Value, 5 Yr. CAGR %	-19.95	11.03	66.2	86.91	114.07
Cash From Operations, 5 Yr. CAGR %	-9.89	-2.63	51.75	-11.18	52.57
Capital Expenditures, 5 Yr. CAGR %	-29.31	-45.25	10.53	15.37	5.44
Levered Free Cash Flow, 5 Yr. CAGR %	56.2	7.3	18.06	15.01	122.69
Unlevered Free Cash Flow, 5 Yr. CAGR %	30.67	8.53	20.33	5.78	70.63
Dividend Per Share, 5 Yr. CAGR %	-	-	-	-	-