Tüpraş Announces Third Quarter Financial Results

Tüpraş released its financial results for the third quarter of 2019. Continuing its operational efficiency-focused activities, Tüpraş successfully fulfilled its responsibility in meeting Turkey's fuel needs during the first nine months of 2019. Tüpraş increased its production volume by 11% in the nine-month period compared to the same period of the previous year. Total production for the nine months reached 21.2 million tonnes. Production volume in the third quarter of 2019 was 7.5 million tonnes. In the third quarter of the year, Tüpraş's domestic sales volume was 6.4 million tonnes, while total sales volume was 7.8 million tonnes. For the first nine months of 2019, total sales volume reached 22.2 million tonnes.

Tüpraş Ready for International Maritime Organization (IMO) Regulatory Changes

During the first nine months of the year, Tüpraş successfully carried out maintenance work in preparation for the upcoming International Maritime Organization (IMO) regulatory changes. Prior to the IMO 2020 Regulation changes set to take effect as of 1 January 2020, Tüpraş prepared for these changes by conducting maintenance on its most complex units.

Total USD 179 Million Investment in Refining and Logistics

Tüpraş made total capital expenditure of USD 179 million in refining and logistics during the nine-month period, and will continue to create added value for Turkey and all stakeholders with increasing global competitive strength in the coming period.

Operational and Financial Data
		Q3 2019	Q3 2018	Change (%)	9 Months 2019	9 Months 2018	Change (%)
Operational (Thousand Tonnes)	Total Production	7,537	7,690	-2%	21,195	19,081	11%
	Total Sales	7,839	8,703	-10%	22,210	22,263	-0.2%
Financial (Million TL)	Sales Revenue	23,309	30,247	-23%	67,970	63,749	7%
	Operating Profit	608	802	-24%	2,169	2,559	-15%
	Profit Before Tax	-146	678		127	2,075
	Net Period Profit	-155	542		340	1,947