5 - TPAO

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<strong>TPAO</strong> and its Subsidiaries Consolidated Income Statement for the year ended December 31, 2011 and December 31, 2010 thousand USD* 2011 2010 Sales Income 3,295,138 2,850,823 66 Cost of Sales (-) 1,536,637 1,424,624 Gross Profit (Loss) 1,758,501 1,426,199 Marketing and Sales Expenses (-) 74,949 123,291 General Administrative Expenses (-) 213,068 235,683 Research and Development Expenses (-) 230,614 166,395 Other Operating Revenues (-) 82,091 269,630 Other Operating Expenses (-) 188,467 139,880 Operating Profit (Loss) 1,133,494 1,030,580 The Investment’s Shares in Gains/Losses 3,324 1,545 Non-operating Financial Revenues 966,801 772,038 Non-operating Financial Expenses (-) 362,611 288,073 Continued Operations Before Tax Profit (Loss) 1,741,007 1,516,090 Continued Operation of Tax Profit (Loss) 306,476 163,274 Tax Losses for the Period 268,319 177,269 Deferred Tax Gains (Losses) - 38,157 13,994 Net Income (Loss) 1,434,532 1,352,816 * 2010 exchange rate for USD is 1.5265 TL and for 2011 it is 1.7175 TL.
Financial Ratios Derived from Consolidated Financial Statements of <strong>TPAO</strong> for 2011 Current Ratio (Working Capital Ratio) = 7.34 Acid- Test Ratio = 4.49 67 Liquidity Ratio (Liquid Assets Ratio) = 3.91 Financial Leverage = 0.12 The Ratio of Equity to Total Assets = 0.88 The Ratio of Equity Capital to Liabilities = 7.21 Gross Sales Revenue / Net Sales Revenue = 0.68 Net Profit / Asset Ratio = 0.22
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1 Natural resources have great impo
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contents 4 6 8 10 12 14 16 20 26 32
Page 8 and 9:
about us 6 who we are? what we do?
Page 10 and 11:
organization chart 8 Chairman and P
Page 12 and 13:
message from the president 10 We ar
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oard of directors 12 5 He graduated
Page 16 and 17:
general management 14 Mehmet UYSAL
Page 18 and 19: indicators of 2011 2011 2010 16 Sal
Page 20: 18 World population spent 28% more
Page 23 and 24: In accordance with our vision and m
Page 25 and 26: • TPAO and Shell signed Joint Ope
Page 27 and 28: 25 Garzan Water Injection Project G
Page 29 and 30: We have become an important actor i
Page 31 and 32: Following the determination of the
Page 33 and 34: The first draft of the Preliminary
Page 35 and 36: Today, oil companies are faced with
Page 37 and 38: Drilling Services While conducting
Page 39 and 40: In this context, a total of 29 proj
Page 41 and 42: technology, by not harming the envi
Page 43 and 44: In this context, TPAO continuously
Page 45 and 46: Batman District Management In Batma
Page 47 and 48: Colombia Activities Gonzalez Block
Page 49 and 50: 47 Turkish Petroleum SCP Ltd. (TPSC
Page 52 and 53: finance 50 600 Our domestic budget
Page 56 and 57: 54 Basis Of Presentation For The Fi
Page 58 and 59: services. The income generated by s
Page 60 and 61: 58 The Group does not have a goodwi
Page 62 and 63: 60 gains and losses in accordance w
Page 64 and 65: 62 increased for the change in thei
Page 66 and 67: TPAO and its Subsidiaries Consolida
Page 70: contact information 68 headquarters
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