The Ministry of Treasury and Finance has introduced the Public Enterprises Report for 2021.
Accordingly, as of the tip of final 12 months, there have been a complete of 31 public enterprises within the portfolio of the Ministry, of which 19 are State Financial Enterprises (SOE), 4 are public banks and eight different establishments.
When evaluated when it comes to efficiency, the product sales of the SOE system in 2021 reached 331.4 billion liras, a rise of 106.2 % in comparison with 2020. The SOE system closed the 12 months 2021 with an working lack of roughly 11.1 billion liras. Whereas the product sales elevated by 106.2 % in comparison with the earlier 12 months, the rise in gross sales prices by 131.3 % was efficient within the formation of the stated working loss. After the tax and authorized obligations, the web lack of the system in 2021 was 24.3 billion liras.
SOEs introduced a web revenue of 825.8 million liras in 2020.
An important shareholder on this change was BOTAŞ. BOTAŞ introduced a lack of 17 billion 991 million liras in 2021. The lack of BOTAŞ elevated by 66,815 % in 2021 in comparison with the earlier 12 months. Based on the assertion within the report, the product sales of BOTAŞ elevated by 160.7 % in comparison with the earlier 12 months and reached 173.4 billion TL in 2021, primarily as a result of enhance within the demand for energy crops that generate electrical energy from pure gasoline attributable to drought.
NOT REFLECTED IN THE SALE PRICE
Because of the rise in pure gasoline costs, which BOTAŞ imports all, the price of the group’s gross sales elevated by 192.5 % in comparison with 2020 and reached 186.9 billion TL. Based on the evaluation within the report, a interval lack of 17.9 billion TL occurred in 2021 on account of BOTAŞ’s failure to mirror the prices it incurred with the intention to defend customers and restrict the rise in inflation, attributable to macroeconomic developments.
THE FLUCTUATION IN THE CURRENCY WAS EFFECTIVE
After BOTAŞ, the corporate with the best loss amongst SOEs final 12 months was Elektrik Üretim A.Ş. with 7 billion 644 million liras. (EUAS). Within the report of the Ministry, the explanation for the lack of EÜAŞ was defined as follows:
“In 2021, the product sales income of the group is 26.9 billion TL, working loss is 8.4 billion TL, financing
whereas its expense was 17.2 million TL and its loss for the interval was 7.6 billion TL. The rise within the lack of the interval was as a result of enhance in the price of power commodity costs as a result of enhance in power demand after the epidemic, fluctuations within the change price and the lack to supply electrical energy on the programmed stage from hydroelectric energy crops attributable to drought.
EXCHANGE INCREASED 79 PERCENT IN 2021
In 2021, there was a 79 % enhance within the greenback / TL, which was efficient in power costs. This particularly contributed to the rise within the lack of BOTAŞ. Since February, worldwide pure gasoline costs have elevated sharply attributable to Russia’s try and invade Ukraine. As well as, there was a 35 % enhance within the greenback / TL.
Due to this fact, it’s said that the lack of BOTAŞ, which doesn’t totally mirror the worth will increase to the customers, might enhance this 12 months as nicely.
483.4 BILLION TL ASSET SIZE
Based on the knowledge within the report, the overall asset dimension of the SEE system elevated by 55.8 % in 2021 in comparison with the earlier 12 months and reached 483.4 billion liras. Final 12 months, the ratio of asset dimension to gross home product (GDP) was calculated as 6.7 %. The rise in asset dimension was primarily as a result of enhance in present belongings. Whole fairness dimension elevated by 8.8 % in 2021 to 194.7 billion liras.
EMPLOYMENT EXPENSES 17.3 BILLION TL
Whereas the overall employment bills of SEEs reached 17.3 billion liras with a rise of 23.5 % within the stated interval, 5.1 % of the overall SEE gross sales and working bills mirrored within the revenue assertion consisted of employment bills. In the meantime, the price of an worker throughout the SOEs to the employer was 12 thousand 259 liras per 30 days for civil servants and contracted personnel and 16 thousand 407 liras per 30 days for employees in 2021.
COMPANIES AFFILIATED WITH THE ASSET FUND
The report additionally shared the businesses included within the portfolio of the Turkey Wealth Fund (TVF) as of the tip of 2021.
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