Tupras-Turkiye Petrol Rafineleri AS (OTCPK:TUPRF)

Q2 2025 Turkiye Petrol Rafinerileri AS Earnings Call Transcript

Jul 29, 2025 / 10:59 AM GMT

Release Date Price: $3.46

Transcript

Key Points

Positve

Tupras-Turkiye Petrol Rafineleri AS (IST:TUPRS) reported a strong cash position of $2.3 billion at the end of the second quarter, supported by solid operational execution and effective working capital management.
The company secured a $500 million club loan in May, marking its first sustainable-linked financing, which demonstrates financial credibility in global markets.
Domestic gasoline sales reached a historic high in the second quarter, with a 19.6% year-on-year increase in gasoline demand.
Tupras-Turkiye Petrol Rafineleri AS (IST:TUPRS) achieved a capacity utilization rate of 98% for the second quarter, with plans to operate above 100% in the third quarter, capturing strong margins.
The company finalized the acquisition of a solar power plant license and land in Romania, aligning with its strategic transition plan and energy transition roadmap.

Negative

Domestic diesel sales decreased by 9% year-on-year, reflecting challenges in the Turkish market and competition from exporting industries.
The company experienced a 4% decrease in total product sales year-over-year, indicating potential market challenges.
Geopolitical tensions, including additional sanctions on Russia and conflicts between Israel and Iran, have increased supply security risks and market volatility.
The effective tax rate was low at 19% in the second quarter, influenced by inflationary accounting and indexation differences, which may not be sustainable.
Trading activities remained weak in the second quarter, with no significant rebound expected in the near term.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

TUPRS.IS - Turkiye Petrol Rafinerileri AS
Q2 2025 Turkiye Petrol Rafinerileri AS Earnings Call
Jul 29, 2025 / NTS GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, thank you for standing by. I'm Konstantinos youror's co operator. Welcome and thank you for joining the Trush conference call and live webcast to present and discuss the 2nd quarter of 2025 financial results. At this time, I would like to turn the conference over to Mr. Togan Korkma, CFO, Mr. Levan Bayard, investor relations executive director. Mr. Bayard, you may now proceed.

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Unidentified_2 [2]
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Thank you. Hi everyone. Good evening to all from Tupras headquarters in Istanbul, and welcome to our teleconference. I am

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