A net profit of 3 billion 319 million TL from Tüpraş in 2021

Tüpraş reported its consolidated balance sheet for 2021 to the Public Disclosure Platform (KAP). Tüpraş recorded a net profit of 1 billion 392 million TL in the fourth quarter of 2021, reaching a figure well above the market expectation of approximately 450 million TL. The company, which announced a loss of 2.5 billion TL in the whole of 2020 due to the pandemic, completed the year with a profit of 3 billion and 319 million TL in 2021. Revenues from inventories supported profitability. In the last quarter of 2021, the company's sales exceeded market expectations with 56.5 billion TL. The company, which generated TL 150.9 billion in revenue throughout the year, increased its sales by 139 percent compared to the same period of the previous year. The distribution of the revenue was approximately 118 billion TL domestically and 34 billion TL abroad. The firm, which generated strong net income, also beat market expectations on the EBITDA side. In the last quarter of 2021, it announced EBITDA of 6 billion 891 million TL, against the market expectation of 5 billion 893 million TL. As it will be remembered, after the strong third quarter financials, the company revised its expectations for 2021 upwards and increased its net refinery margin expectation by 1.5 dollars, bringing it into the range of 4.5–5 dollars per barrel. Sharing its 2022 expectations, the company said its Mediterranean Refinery Margin expectation is 2-3 dollars per barrel; net Tüpraş Refinery Margin is expected to be 4-5 dollars per barrel.

Tüpraş aims to produce 26-27 million tons

The company, which foresees a capacity utilization rate of 90–95% of its operational targets, aims to produce approximately 26–27 million tons. It estimates its sales to be around 28-29 million tons in 2022. While Tüpraş foresees a total investment expenditure of 300 million dollars in 2022; He stated that approximately 45 percent of the investments are sustainable-oriented, including energy efficiency and environmental projects. The company, which did not pay dividends in 2015 and 2020, stated that it will not pay dividends in 2021 either. Thus, Tüpraş will not pay dividends for two consecutive years.