5 - TPAO
5 - TPAO
5 - TPAO
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<strong>TPAO</strong> and its Subsidiaries Consolidated Income Statement for<br />
the year ended December 31, 2011 and December 31, 2010<br />
thousand USD*<br />
2011<br />
2010<br />
Sales Income<br />
3,295,138<br />
2,850,823<br />
66<br />
Cost of Sales (-)<br />
1,536,637<br />
1,424,624<br />
Gross Profit (Loss)<br />
1,758,501<br />
1,426,199<br />
Marketing and Sales Expenses (-)<br />
74,949<br />
123,291<br />
General Administrative Expenses (-)<br />
213,068<br />
235,683<br />
Research and Development Expenses (-)<br />
230,614<br />
166,395<br />
Other Operating Revenues (-)<br />
82,091<br />
269,630<br />
Other Operating Expenses (-)<br />
188,467<br />
139,880<br />
Operating Profit (Loss)<br />
1,133,494<br />
1,030,580<br />
The Investment’s Shares in Gains/Losses<br />
3,324<br />
1,545<br />
Non-operating Financial Revenues<br />
966,801<br />
772,038<br />
Non-operating Financial Expenses (-)<br />
362,611<br />
288,073<br />
Continued Operations Before Tax Profit (Loss)<br />
1,741,007<br />
1,516,090<br />
Continued Operation of Tax Profit (Loss)<br />
306,476<br />
163,274<br />
Tax Losses for the Period<br />
268,319<br />
177,269<br />
Deferred Tax Gains (Losses)<br />
- 38,157<br />
13,994<br />
Net Income (Loss)<br />
1,434,532<br />
1,352,816<br />
* 2010 exchange rate for USD is 1.5265 TL and for 2011 it is 1.7175 TL.
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