The FINANCIAL — Turkey’s one of the leading fuel and mineral oil distribution companies Petrol Ofisi continued its works without slowing down also in 2009 Q1 focusing high quality products and customer satisfaction.
"Net sales of Petrol Ofisi realized as TL 2.920 million (USD 1.772 million); and profit before interest, tax and depreciation increased by 41 % to TL 204 million (USD 124 million) when compared to the same period of the last year. Net profit of the Company realized as TL -32 million," Petrol Ofisi reports.
Melih Türker, CEO of Petrol Ofisi, stated that global economic crisis caused also a contraction in fuel market same as in many other sectors and 2009 Q1 results affected Petrol Ofisi as other competitors. Underlining that investments of the Company are continuing and will continue unceasingly, Türker underlined that “Best cure against crisis is investment and having this in mind, we are still creating added-value for Turkey together with our dealers, employees and their families as the Big Petrol Ofisi Family”. Türker also expressed that they have opened new Batman Station in January 2009 while taking a very important step to become an integrated Petroleum and Gas company and talked about the Company’s investment of USD 55 million excluding VAT in Turkey’s biggest and the most significant off-shore natural gas project in South Akçokoca site.
Türker also made following comments on economic outcomes and financial statement results: “Diesel fuel consumption which is the leading indicator of economic and industrial trade activities, took slowdown trend during Q4 of 2008 and hit the bottom with 12% contraction in February 2009. Beside this, sharp transition from gasoline to LPG that started especially in 2007 is continuing also in 2009. We estimate that the total LPG consumption in vehicles will exceed gasoline consumption as from mid 2009. First half and year end consumption results for 2009 will be close to the figures of Q1 with the continuing effects of global economic crisis. These estimates envisage also that especially diesel consumption will maintain the slowdown trend during the first half of 2009. Autogas will replace gasoline and thus the gasoline consumption might be under 2 millions of tone at the end of 2009.
Fluctuations on diesel fuel prices in 2009 caused risks and concerns related to uncertain economic climate in whole transportation sector including fuel sector. However, as expending our ambition and energy, we work intensely with a positive mind in order to transform those concerns to opportunity and economic value
What did Petrol Ofisi make in Q1 2009?
Petrol Ofisi purchased 26.75% of Toreador shares for USD 55 million excluding VAT in the South Akçakoca Sub Basin Natural Gas Investment Project covering natural gas production sites at Akçakoca offshore and exploration licenses. Upon the approval of Ministry of Energy and Natural Resources regarding the acquisition, Petrol Ofisi became the second shareholder of the project with its 26.75% share after TPAO.
Batman Station with 7700 m³ storage capacity started to operate on January 29, 2009 after obtaining the storage license from Energy Market Regulatory Authority. In the Station Directorate, where 14 personnel employed, diesel oil, agricultural diesel oil and 95 octane unleaded gasoline and packaged mineral oil products are stocked and sold.
Number Positive Card users that took off aiming to become the most common customer loyalty program of Turkey reached 1.5 million people in one year. Positive Card which is a high-tech card and valid in more than 2,000 stations throughout Turkey won Petrol Ofisi customers thanks to the fact that it provides payment from the car and thanks to the valuable products it brings. Positive Card is giving numerous advantages to the customers buying fuel oil or PO Gas. Also used as a credit card by the customers engaged with contracted banks, Positive Card enables its owner to win various gifts with the bonus points accumulated through purchases made at Petrol Ofisi.
Petrol Ofisi became Motocross World Championship third stage sponsor watched approximately by 1 billion people world-wide as always exerting efforts to develop motor sports in Turkey and training Turkish pilots in a world class level.
Petrol Ofisi is also continuing its nonstop activities within the framework of strategic partnership made with Community Volunteers Association (TOG) at the end of 2008. Always calling its all dealers and social stakeholders to become a “Community Volunteer”, Petrol Ofisi dealers at the determined pilot cities met with Community Volunteers and discussed local problems and projects.
Petrol Ofisi also continued to give support for “Father Send Me to School” project which is hope for thousands of children to take proper education. Petrol Ofisi gave education support for 500 student girls up today and proved itself as giving back to community what it has already earned from community.
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