Koç Holding Investor Presentation
Margin Environment ($/bbl)
Med Complex Margin
Premium to the benchmark Mediterranean peers'
refining margin due to:
• Refined products deficit characteristic to the
Turkish market
• Access to cheaper sources of crude oil
Ability to use heavier and sour crudes
Proximity to major suppliers
• Reduces transport costs.
Implemented cost reduction measures
10
7,5
5
2,5
0
-2,5
Month
-
Annual
J-08 J-08 J-09 J-09 J-10 J-10 J-11 J-11 J-12 J-12 J-13 J-13 J-14 J-14 J-15 J-15 J-16 J-16 J-17 J-17 O 18
Tüpraş Brüt Marj
16
Tüpraş Net Marj
Akdeniz Marj
12,9
12,8
11,9
11,2
• Capacity to produce higher value added range of
10,6
9,6
9,6
Energy efficiency programs.
refined products
• Direct pipeline connections with domestic clients
• High export capability
Investor Presentation
OPERATIONS
www.tupras.com.tr
8,1
6,5
6,4
6,0
3,2
4,8
3,2
2,5
5,3
"
4,0
1,7
2,0
0
2013
2014
2015
2016
2017
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