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Aygaz posted EUR 68mn net profit last year.

February 23, 2014

Aygaz announced that it posted a consolidated net income of TRY 205mn (EUR 68mn) last year. The company's net income was a higher TRY 305mn in 2012.

In the filing with the Stock Exchange, Aygaz said that its revenues rose to TRY 6bn last year from TRY 5.6bn in 2012 while its gross profit increased to TRY 571mn from TRY 521mn. Q4 net income of Aygaz fell 83% y/y to TRY 11mn.

Koc Holding, one of Turkey's largest conglomerates, owns 40.68% of Aygaz and 24% of the company's shares are traded on the stock exchange.

Total LPG sales volume declined by 0.7% y/y to 288,766 tonnes in November 2013, according to the latest report by the market regulator EPDK. Aygaz was the market leader in November with a 28.86% share and monthly sales of 83,341 tonnes and the company's LPG sales showed an increase of 27.6% y/y. OVM Petrol Ofisi, the second largest player in the market, increased its sales by 4.5% y/y to 32,354 tonnes, corresponding to an 11.2% market share.

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Source: IntelliNews - Weekly Reports

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