Koç Holding Investor Presentation
FX Risk Exposure (31 December 2017)
• A significant portion of the Group's crude oil and
refined product purchases are denominated in US
Dollars. In addition, the Group finances its capital
expenditures mostly through borrowings
denominated in US Dollars.
• Natural Hedge: The Group is able to mitigate some of
the impact of volatility in exchange rates through
natural hedges: crude oil and refined product
inventories are US Dollar denominated assets.
.
Cash flow Hedge: RUP Facility financing loans
designated as hedging instruments of highly
probable export revenues.
As a general Koç Holding financial policy, Group
companies are allowed to keep foreign exchange
positions within certain limits.
Cash flow hedge accounting: 1,254 mn $
Investor Presentation
www.tupras.com.tr
KEY FINANCIALS
Consolidated
Assets
Cash
1.996
Receivables &
other assets
35
Stock
1,341
Forward & CFH
2,410
Million $
Consolidated
139 mn $
Liabilities
Payables
1,935
ST Financial
1.199
RUP : 304
Eurobond: 700
Other : 195
LT Financial
2,510
RUP Loans : 964
Eurobond 700
Other Credits: 846
40View entire presentation