annual report 2012

Transcription

annual report 2012

ANNUAL REPORT 2012
Life is
the biggest
project of all
As a vast corporation that breathes new life into every area
it steps into, and leaves permanent legacy to the future,
we continue to turn over a new leaf with our every project.
By saying “Life is the biggest project of all”,
we bring to life not only with construction projects but also
to our future, to the youth through Bilkent University.
We present you our 2012 Annual Report just like our
construction projects for your access.
Contents
At a Glance
3
Key Indicators in 2012
4
Major Developments in 2012
8
Tepe İnşaat in Brief
10
Vision, Mission and Corporate Values
12
Key Financial Indicators
14
Subsidiaries and Affiliates
16
Bilkent Holding
18
Milestones
Management
23
Message from the Management
26
Board of Directors, Senior Management and Board of Auditors
Operations in 2012
29
Operation Map
32
Contracting Projects
42
Investment Projects
44
TAV Havalimanları (TAV Airports)
54
TAV İnşaat (TAV Construction)
58
İDO (Istanbul Sea Buses)
Sustainability
63
Human Resources Policy
66
Occupational Safety, Environmental and Quality Policy
68
Bilkent University
71
Contact Information
2
Narlife-Istanbul
At a Glance
3
Key Indicators in 2012
Deriving strength from its parent company
Bilkent Holding, Tepe İnşaat focused on
significant projects in 2012 that propel the
corporate structure into the future.
162
nd
Position on ENR 225 Top List
A-(Trk)
Long-term National Score of
Bilkent Holding
Enjoying an international reputation owing to
the comprehensive projects completed thus
far, in 2002 Tepe İnşaat ranked 162nd in the ENR
Top 225 List of the world’s leading construction
companies.
On May 29, 2013, JCR Eurasia Rating
confirmed the long-term national rating of
Tepe İnşaat as “A-(Trk)”.
609
1,274,792
As the second residential project that Tepe İnşaat
realized in the Maltepe region of Istanbul, Narlife
comprises 609 residences built on land, 60% of
which is dedicated to green area.
Having gained prominence with its
successful financial performance in parallel
to its long-established corporate culture,
Tepe İnşaat increased its equity to
TL 1,274,792 thousand in 2012.
Number of Residences in the
Narlife Project
Equity Size (TL Thousand)
1,793,143 107,340
Total Assets (TL Thousand)
With a sustainable performance,
Tepe İnşaat increased its total assets
by 5% over the previous year to
TL 1,793,143 thousand.
Total Built-up Area of Factories
in Tatarstan (m2)
A project in the Special Industrial Zone of
Yelabuga in the Republic of Tatarstan, a part
of the Russian Federation, will be delivered on
October 2013.
Tepe İnşaat Annual Report 2012
4
Describing its activities as “a continuous
journey of success”, Tepe İnşaat continued
to sustain its credibility among international
economic groups in 2012.
Tepe İnşaat continued its “journey of
success”
Ranked 162nd in the Engineering News Record
(ENR) Top 225 List 2012 of the largest
international construction companies in the
world, Tepe İnşaat continued to enjoy
prominence for its strong corporate
management approach and the successful
projects realized in the construction sector
in consequence of it. Subsequent to sales of
the Company’s 18% stake in TAV Havalimanları
Holding A.Ş. to Aéroports de Paris Management
for US$ 414 million, and the sale of 23.275% of
its stake in TAV Tepe-Akfen Yatırım İnşaat ve
İşletme A.Ş. for US$ 23,275,000, JCR Eurasia
Rating confirmed Bilkent Holding’s long-term
domestic rating as “A-(Trk) with a “positive”
outlook. JCR Euroasia Rating confirmed that
the sale transaction would positively impact
the market efficiency and performance of
Holding companies, including Tepe İnşaat. In the
statement made by JCR Eurasia Rating on 29th
May 2013, the Company’s long-term national
rating was declared as “A-(Trk)” with a “positive”
Outlook.
8.1%
Participating Share of Tepe İnşaat in
TAV Havalimanları Holding A.Ş.
Following the sale of its 18% stake in
TAV Havalimanları Holding A.Ş. for US$ 414 million,
Tepe İnşaat considerably fortified its market
position and financial efficiency.
At a Glance
5
Atatürk Airport-Istanbul
6
Narlife, the third residential project in Istanbul’s
Maltepe region, having redefined the quality
standard of the sector with its Narcity and Narkule
projects, features 2,000 m2 of social facilities.
The project combining green
with blue: Narlife
Once again revealing its sectoral experience and
competence through the Narcity and Narkule
projects completed in the Maltepe region of
Istanbul, in a period of intensified competition in
the residential sector, Tepe İnşaat continued to
raise the quality standard with its Narlife project
to be completed in the same region. Located
on a total area of 29,500 m2 with views of the
Princes’ Islands, the project offers 609 flats with
one, two, three or four bedrooms, and duplex
apartment options, together with social facilities
on an area of 2,000 m2 comprising outdoor and
indoor swimming pools and a children’s pool,
as well as a playground, sauna, fitness hall
market and cafe. Promising a new way of life
by combining green with blue, the project is
planned for completion in December 2014.
609
Narlife’s Total Resident Number
Tepe İnşaat’s Narlife project is located in Maltepe
on a total area of 29,500 m2 with views of the
Princes’ Islands, and comprises a total of 609 flats
of one, two, three or four bedrooms, as well as and
duplex apartment options.
At a Glance
7
Tepe İnşaat shortly aims to complete its project
in Turkmenistan, which commenced in 2012
involving a silo and supply installation with a
total capacity of 360,000 tons.
Turkmenistan
Having completed numerous projects in
the international arena extending from the
Russian federation to the Gulf States, Tepe
İnşaat undertook important contracting
projects in Turkmenistan during 2012 on the
strength of its pedigree in the construction
of industrial buildings. In 2012, the Company
started the construction of a series of silo
projects in eight cities of Turkmenistan, a
rapidly developing country of Central Asia, as
well as the construction of a bakery, and pasta
and packaging material plants, contracted
together with the silo projects. The projects are
anticipated to be delivered gradually over 2013
and 2014.
360,000
The Total Volume of Ongoing Silo Projects
in Turkmenistan (Tons)
With the silo projects of a total capacity of 360,000
tons realized in eight cities of Turkmenistan, Tepe
İnşaat has again displayed its competence in the
construction of industrial buildings.
8
Tepe İnşaat ın brıef
Structuring its activities from its
well-established corporate governance approach,
Tepe İnşaat declared registered capital of
TL 780,000,000 as of December 31, 2012.
With its ongoing activities in the construction &
contracting sector, the key sector shaping the
rapid development of the national economy
for the past 44 years, Tepe İnşaat also instilled
confidence in its stakeholders, and primarily
in Bilkent Holding A.Ş., its major shareholder,
in 2012 with its projects of high added value.
Describing its activities as a continuous
journey of success, focused on creating lasting
values, the Company has become one of the
truly remarkable players of the sector, having
acquired an international reputation owing to
its domestic and overseas projects that are
designed by considering the rapidly changing
needs of the contemporary world. Adhering to
the founder of Bilkent University, Prof. Dr. İhsan
Doğramacı’s philosophy of “further, toward the
best”, the Company holds a prominent portfolio
of projects, comprising housing, shopping
malls, office buildings, healthcare facilities,
educational facilities and campuses, in addition
to sports and recreational, hotels, military
facilities, power plants and industrial facilities,
transportation structures and roads, religious
buildings, urban infrastructure, pipelines, water
supply, renovation and pre-engineered projects.
It fully intends to realize further developments
over the coming period that continue to set the
quality benchmark for the sector.
Structuring its activities in light of its
well-established corporate governance
approach, in addition to its experienced human
resources, Tepe İnşaat declared its registered
capital as TL 780,000,000 as of December 31,
2012.
85.86%
Bilkent Holding A.Ş
13.33%
Tepe Emlak Yat. İnş. A.Ş.
0.8%
Other Shareholders
At a Glance
9
Shareholding Structure
Share
Class
TL
Participating
Share (%)
Bilkent Holding A.Ş.
A
1
0
Bilkent Holding A.Ş.
B
669,741,166
85.86
Tepe Emlak Yat. İnş. A.Ş.
B
104,000,091
13.33
Tepe Savunma ve Güv. Sis. A.Ş.
B
5,672,386
0.73
Tepe Home Mob. Dek. Ürün San. ve Tic. A.Ş.
B
562,352
0.07
Meteksan Matbaacılık A.Ş.
B
24,004
0
Company Shareholders
Tepe
İnşaat
Sanayi
Anonim
Şirketi
10
Vision, Mission and Corporate Values
Vision
Mission
To provide resources to Bilkent University, the
principal shareholder, and make a tangible
contribution to national education,
To create the necessary resources for Bilkent
University to continue developing and growing.
To provide added value to the national
economy by producing and generating
employment,
To pursue its activities with respect for
ethical values, in order “to survive”, and “be
trustworthy”, in accordance with its mission
and vision of becoming a leading company
across different business lines, and on a global
scale, and of establishing a presence in diverse
geographical regions.
To make a contribution to Turkey’s future by
transferring the values and resources it created
at the establishment of Bilkent University,
Turkey’s first foundation university and one of
the country’s most distinguished educational
institutions.
To focus on success in each project undertaken
for each new client, whether it is an institution
or an individual, without compromising on
quality, with complete confidence in its human
resources, by considering environmental
sustainability and by incorporating global
technological developments and contemporary
demands.
To introduce innovations to the industry while
developing a variety of construction projects in
both Turkey and abroad.
At a Glance
11
Corporate Values
Possessing a Sense of Responsibility
Being Customer Satisfaction Oriented
To be aware of its responsibilities towards
customers, employees and suppliers, as well as
to the environment and the wider community.
To undertake only the services it is capable of
offering under turnkey infrastructure projects,
as well as investment projects, from concept
design to final delivery, including land, funding,
design, construction and marketing phases, and
to execute all contracts comprehensively.
To ensure continuous customer satisfaction by
taking into consideration evolving and growing
customer expectations. To establish clear and
transparent communication with customers,
while providing services in a timely manner
according to its commitments.
Adherence to Ethical Values and Laws
To adhere to ethical rules and laws to the fullest
extent in striving towards best service and
product quality in its field of activity, observing
competition, efficiency and profitability. To
comply with all laws and regulations applicable
in the national, as well as overseas regions
where projects are implemented.
Creating Global Value
To contribute to the environmental, economic,
social and communal development of each
region where the Company’s projects are
realized.
Sharing the Success
To share the successes attained with its
employees, customers, business associates
and the community.
12
Key Financial Indicators
In the operating year of 2012, as the global
markets suffered from stagnation, Tepe İnşaat
maintained its market efficiency thanks to its
strong equity structure.
Balance Sheet Figures (TL Thousand)(*)
2011
2012
531,497
872,544
B-Fixed Assets
1,179,908
920,599
Total Assets
1,711,405
1,793,143
A-Short-term Foreign Liabilities
261,847
296,814
B-Long-term Foreign Liabilities
619,022
221,536
C-Shareholders’ Equity
830,536
1,274,792
Net Sales
347,806
116,325
Operating Profits
58,305
11,465
Extraordinary Revenues and Incomes
12,135
38,652
A-Current Assets
(*) Prepared according to the stand-alone financial statements.
1,711,405
1,793,143
1,274,792
830,536
2011
2012
2011
2012
Total Assets (TL Thousand)
Shareholders’ Equity (TL Thousand)
Tepe İnşaat increased its total assets
by 5% over the previous year to
TL 1,793,143 thousand in 2012.
Distinguished by its strong equity structure,
Tepe İnşaat increased its shareholders’ equity to
TL 1,274,792 thousand in 2012 from
TL 830,536 thousand in 2011.
At a Glance
13
Liquidity Ratios (%)(*)
2011
2012
Current Ratio
2,30
2,94
Acid-Test Ratio
1,92
2,91
Cash Ratio
0,34
1,26
4.21
2.37
86.68
153.86
0.65
0.13
269,650,074.19
575,730,050.22
1.29
0.20
Operational Ratios (%)(*)
Accounts Receivable Turnover Ratio
Accounts Receivable Collection Period
Current Asset Turnover Ratio
Net Working Capital (TL)
Net Working Capital Turnover Ratio
Tangible Asset Turnover Ratio
1.98
0.63
Total Asset Turnover Ratio
0.20
0.06
Equity Turnover Ratio
0.42
0.09
Financial Leverage Ratios (%)(*)
Financial Leverage Ratio
0.51
0.29
Financing Ratio
0.94
2.46
Ratio of Equity to Total Assets
0.49
0.71
Ratio of Short-term Debts to Total Liabilities
0.15
0.17
Ratio of Short-term Debts to Total Debts
0.30
0.57
Ratio of Long-term Debts to Total Liabilities
0.36
0.12
Ratio Analysis in Accordance with the Public Procurement Law (%)(*)
Current Ratio
3.00
6.75
Ratio of Equity to Total Assets
0.59
0.90
Ratio of Short-term Financial Liabilities to Total Equity
0.00
0.00
14
Subsidiaries and Affiliates
Tepe İnşaat implements an efficient risk
management policy through its affiliates that
encompasses diverse fields of activity.
Total
Capital (TL)
Share
Capital (TL)
%
8,000,000
24,497
0.31
71,000,000
56,697,334
80
145,000
144,565
100
50,000
25,000
50
Tepe Prefabrik İnşaat Sanayi ve Ticaret A.Ş.
12,000,000
10,213,329
85
Tepe Savunma ve Güvenlik Sist. San. A.Ş.
30,000,000
18,779,952
63
6,000,000
1,039,919
17
100,000
60,000
60
1,000,000
650,000
65
50,000
1
0
170,000
5,000
3
1,500,000
735,000
49
176.29
86.38
49
100,000.00
49,997.00
50
50,000
2,500
5
Dafne Ege Döviz Ticareti A.Ş.
500,000
25
0
Esenboğa Ankara Döviz Ticareti A.Ş.
500,000
25
0
10,000.00
2,250.00
23
Tav Esenboğa Yatırım Yapım ve İşletme A.Ş.
241,650,000
10
0
Tav Havalimanları Holding A.Ş.
363,281,250
29,273,852
8
Tav Yatırım Holding A.Ş.
100,500,000
24,346,000
24
Tepe Mesa Adi Ortaklığı
1,000,000.00
500,000.00
50
Tepe Nacap İş Ortaklığı
50.00
35.00
70
Company Name
Tepe Güvenlik A.Ş.
Tepe Home Mobilya ve Dekorasyon Ürünleri Ticaret A.Ş.
Tepe İnşaat ve Ticaret Ltd. (Cyprus)
Tepe Metag Adi Ortaklığı
Tepe Servis Yönetim A.Ş.
Tepe Tesan Adi Ortaklığı
Tepe Türkmen A.Ş.
Turkofon A.Ş.
Yenikentler Yatırım A.Ş.
Artı Döviz Ticaret A.Ş
Azerköprü-Tepe M.M.C.
Bilintur Kültür Turizm Yatırım ve Ticaret
Bitu Turizm ve İnşaat Yat. A.Ş.
Kirazlı Konutları Adi Ortaklığı
At a Glance
15
Total
Capital (TL)
Company Name
Share
Capital (TL)
%
Ankara Teknoloji Geliştirme Bölgesi ve İşletici A.Ş.
9,600,000
1,106,032 12
Antepe Sağlık Hiz. İnş. Yat. Tic.A.Ş.
3,000,000
2,975,000 99
Atı Servıcess Sa (Swiss Francs)
28,750,000
14,375,000 50
Batı Karadeniz Elektrik Dağıtım A.Ş.
1,400,000
294,000 21
Bilan Bilkent Ankara Tepe Otel İşletmeciliği A.Ş.
5,500,000
2,694,723 49
Bilbak Bilkent İnş. Tic. ve Bakım Hizm. A.Ş.
50,000
70
0
Bildes Bilkent Destek Hizm. ve Tic. A.Ş.
50,000
70
0
Bilen Bilkent Enerji Yat. A.Ş.
50,000
1
0
Bilenerji Bilkent Enerji Üretim A.Ş.
30,550,000
4,530,046 15
Bilintur Bilkent Turizm Yatırım A.Ş.
57,500,000
21,500,000 37
Bilsigorta Bilkent Sigorta Aracılık Hizmetleri A.Ş.
C.B. Spolka Zograniczona (US$)
Dilek İnşaat ve Ticaret A.Ş.
Eccı-C İşortaklığı (US$)
Hyper Foreıgn Trade Holland (US$)
1,000,000
200
0
5,209,056.81
1,562,717.04 30
22,000,000
2,968,610 13
5,000,000
600,000 12
91,000
46,000 51
İdo Deniz Otobüsleri Sanayi ve Ticaret A.Ş.
750,867,410
63,270,000
8
Knauf İnşaat ve Yapı Elemanları Sanayi Ticaret A.Ş.
147,043,000
4,114
0
Meteksan Matbaacılık ve Teknik San. ve Tic. A.Ş.
90,000,000
5,864,454
7
Meteksan Savunma Sanayi A.Ş.
10,000,000
607,310
6
5,500,000
55,000
1
Optisis İletişim ve Bilgi Tekn. A.Ş.
Meteksan Sualtı Akustik Sis. Tek. A.Ş.
300,000
3.000
1
Park Villa İnşaat ve Turizm A.Ş.
500,000
Pft Sıva Sistemleri San. ve Tic. A.Ş.
150
250,000 50
13
9
Sports Int. Bilkent Fitness ve Spor Merkezi A.Ş.
26,000,000
21,888,158 84
Tepe Betopan Yapı Malzemeleri San. ve Tic. A.Ş.
20,000,000
13,200,000 66
221,000,000
147,047,069 67
Tepe Emlak Yatırım İnşaat ve Ticaret A.Ş.
16
Bilkent HoldIng
Companies working under the roof of Bilkent
Holding are leaders in their respective sectors
with regard to turnover and market share.
Bilkent Holding’s foundation began with Dilek
İnşaat, established by İhsan Doğramacı in 1968
to operate in the construction industry; a year
later, Tepe Ağaç Metal ve Makina Sanayi and
Meteksan were founded. During a fundamental
restructuring process in 1986, these companies
were gathered under the umbrella of Bilkent
Holding. Focused on creating value for its
partners and stakeholders, Bilkent Holding
has prioritized process focusing on customer
satisfaction, profitability and excellence in
quality in all the industries in which it operates.
In this respect, operating within a broad field
that includes construction, furniture retailing,
printing and paper production, real estate and
airport management services industries, Bilkent
Holding has expanded its established domestic
experience to an international level with
operations in the Middle East, North Africa, the
Turkic Republics, Eastern Europe and Russia.
Continuing to expand its field of operations and
geographical reach, Bilkent Holding is among the
50 largest corporate groups in Turkey according
to statistical sources quoted by domestic and
international business circles.
Companies working under the roof of Bilkent
Holding are leading players in the respective
sectors in which they operate, with regard
to turnover and market share. The flagship
of Bilkent Holding in the construction
industry, Tepe İnşaat, continues to undertake
construction projects in both Turkey and
abroad, introducing innovations without
compromising on quality. Bilkent Holding is
rapidly expanding its field of operations into
furniture and retail industries, transferring high
quality standards and powerful brand images
gained with the Tepe brand in the construction
industry. Tepe Home Mobilya produces and
sells tailor-made designs to achieve high-level
customer satisfaction. It is the top innovative
brand in its industry and has brought the
megastore furniture retailing concept to
Turkey. Operating in the printing-paper sector,
Meteksan Matbaa is a significant part of this
industry, known for its product diversity and with
an annual production capacity approaching
100,000 tons. Involved in the construction
of seven shopping centers in Turkey and
operating the Ankara Bilkent Center as well
as the Istanbul Tepe Nautilus shopping malls,
Tepe Emlak continues to create venues that
serve the public thanks to the experience it has
gained since the shopping center sector first
gained momentum. Tepe Savunma is another
company that continues its rapid corporate
development under Bilkent Holding roof. Bilintur,
founded to operate in hotel management and
catering industries, also continues to steadily
increase its market share with customer-focused
processes and high quality standards.
At a Glance
17
Not only Turkey’s largest cement board
manufacturer but also among the top three
largest cement-bonded particleboard
producers in the world, Tepe Betopan exports
exterior siding products around the globe. The
companies operating within Bilkent Holding
are able to form new subsidiaries based
on different partnerships by following the
corporate values and principles of the Holding;
in turn increasing the profitability of Bilkent
Holding. TAV Havalimanları ve Yatırım Holding
was founded with the partnership of TepeAkfen and is the most successful example of
this model; the Company provides substantial
added value to Bilkent Holding. During its
corporate development, often referred to as
its “Journey toward Excellence” is among the
elements that sets Bilkent Holding apart. Its
competitive corporate structure that is open
to development and innovation, professional
human resources management formed with
the ‘right person for the right job’ approach
and environmentally friendly practices, has
helped Bilkent Holding achieve ongoing
success. Shaping its operations in terms
of five-year strategic plans, Bilkent Holding
reached its financial and operational goals in
2011 in accordance with its long-term goals and
policies. In order to maintain its competitive
edge in the industries it operates, Bilkent
Holding closely followed the collaborative
projects undertaken by public and private
sectors, privatizations, overseas investment
opportunities and investment projects with
regard to technology. Taking its strength
from more than 40 years’ experience in the
development of the private sector in Turkey,
Bilkent Holding is determined to carry its
sustainable and profitable financial structure
and its brand image identified with confidence
into the future.
18
Milestones
1980s
1990s
1982 Bilkent Campus Bilkent University, Turkey’s
first foundation university was established
in October 1984 by the İhsan Doğramacı
Foundation. Classes opened with 386 students in
1986; today, the University has 12,000 students
in nine faculties, two professional schools, three
vocational schools and six institutes. Bilkent
graduates are among Turkey’s most select human
resources. The Bilkent Campus lies within the
boundaries of Bilkent, a city created over the
course of 15 years on the plains of Ankara. On 612
hectares, Bilkent is a “city of science” that meets
every need with its campus, residences, business
and shopping centers, sports complex, concert
halls, hotel and movie theaters, dam, power plant,
forest and a symphony orchestra.
1999 Atatürk Airport (Build-Operate-Transfer)
Built by the joint venture of the Tepe and Akfen
groups (TAV), the International Terminal of the
Istanbul Atatürk Airport was completed and
started operating within two years. A company
specialized in the fields of airport construction,
operation and financing, today, TAV is an
international power, a leader in its field in Turkey
and is among the most prominent companies in
the Middle East, North Africa and the Caucasus.
Completed at a cost of US$ 397 million, the New
International Terminal of the Atatürk Airport
commenced operations on December 22, 1999.
With an additional facility launched in 2004,
the capacity of the terminal increased from 14
million passengers to 20 million annually. In July
2005, TAV also undertook operations at the
Atatürk Airport Domestic Terminal. With an area
of 62,500 m2, the Domestic Terminal has been
modernized to accommodate an average of 7.5
million passengers each year. The Development
and Expansion Project at the Domestic Terminal
entered its final phase in 2010 and yielded a total
additional covered space of 18,770 m2.
At a Glance
19
2000s
2000 Turkish Armed Forces Rehabilitation
Center Built on a total area of 102,500 m2, with a
400-bed capacity, this facility was established to
provide rehabilitation services to army veterans.
The facility was built at a cost of US$ 132 million;
the project was selected as a result of an
architectural competition.
historical Hunting Lodge, which was renovated
true to its original form, serves residents with a
library, billiards tables, gaming and event lounges,
a spacious garden designed for large receptions
and a kitchen. With a project cost of US$ 90
million, Beykoz Mansions rank among the most
exclusive residences in Istanbul.
İş Bankası Headquarters Complex Turkey’s
first smart building, the İş Bankası Headquarters
Complex is one of the most magnificent high-rises
in Istanbul. It is located in the heart of industry,
commerce and culture. Built at a cost of
US$ 190 million, the complex has been equipped
with state-of the-art technology. It represents a
significant example of a smart building, not only
in Turkey but also in Europe and the Middle East.
İş Bankası Headquarters Complex is the highest
skyscraper between Dubai and Frankfurt with its
two towers, 52 and 36 stories respectively.
Tepe Nautilus Shopping Center Nautilus, or
Lighthouse, was inspired by the seaside around
Kadıköy, on the Asian side of Istanbul, one of the
most historic coastal cities in the world. With
a market value of € 150 million, Nautilus is the
largest shopping center on Istanbul’s Asian side.
With its luminous design, Nautilus offers visitors a
comfortable shopping environment throughout
the day.
2001 Kemer Rose Residence The housing estate,
built in Kemerburgaz on land of 35,000 m² among
unique rose gardens, comprises 70 blocks.
Offering a tranquil life in touch with nature, the
sports facilities of Kemer Rose Residence provide
residents a wide range of opportunities.
2002 Beykoz Mansions Built on 100 hectares in
the Saip Molla Pasha Woods in Beykoz, Istanbul,
Beykoz Mansions are one of Tepe İnşaat’s most
prestigious projects. The 401 mansions are in
perfect harmony with their natural surroundings,
concurrently nostalgic but modern, the project
an atmosphere dating back two-centuries. The
2004 The Eczacıbaşı Kanyon Project Kanyon is
a modern open-air shopping center built by Tepe
İnşaat in Istanbul. Kanyon houses 160 stores, a
gourmet supermarket, a street market, movie
theaters, restaurants, cafeterias, bars, a sports
and health center, indoor and outdoor swimming
pools and open-air performance venues,
residential and office buildings and shopping and
amusement centers. Kanyon was built by the
partnership of Eczacıbaşı and İş Gayrimenkul on
an area of 250,000 m2 in compliance with national
and international earthquake regulations. The
cost of the project was US$ 41 million.
20
Milestones
2005 Baku-Tbilisi-Ceyhan Crude Oil Pipeline
Tepe İnşaat has participated in the construction
of the 277-kilometer section of the pipeline and
pumping stations between Posof and Erzurum.
• İmranlı-Kayseri Natural Gas Pipeline
• Kütahya-Bilecik-Uşak Natural Gas Pipeline
2006 Narcity Housing Project Built on
approximately 147,000 m2 in Maltepe, Istanbul,
the Narcity complex is landscaped primarily with
pomegranate trees, reflecting the name ‘nar’,
Turkish for pomegranate. Built in compliance
with the latest earthquake regulations, Narcity
Housing Project consists of 1,306 units with
state-of-the-art soundproofing, heating and water
insulation systems. With high-quality materials
and workmanship as well as its extensive social
facilities and security systems, Narcity Housing
Project is a strong candidate as one of Istanbul’s
favorite residential destinations. The US$ 200
million project, launched in January 2006, is now
being populated.
Esenboğa Airport At a project cost of € 188
million, Esenboğa Airport provided Ankara with a
facility that suits the capital city. With an annual
capacity of ten million passengers, Esenboğa
Airport is the only airport in Turkey that combines
domestic and international terminals under one
roof. Completed one year ahead of schedule, it
has become the modern face of Turkey’s capital.
2007 Bilkent Garden Homes With an investment
value of US$ 52 million, this project consists of
124 twin-villas built on 123,000 m2. Set amid
superb natural beauty, the villas are 500 m2 each
and equipped with state of the-art technology.
The complex includes two playgrounds for
children, an observation deck, jogging tracks,
swimming pool, game room, fitness center with
sauna, cafeteria, tennis, basketball and volleyball
courts. Bilkent Garden Homes have been
designed to meet the social needs of its residents.
Located in an urban location that is far from
the hustle and bustle of the city and combining
the beauty of nature with the amenities of
contemporary life, Bilkent Garden Homes has
been received with great interest. The project was
launched at the end of 2005 and was completed
at the end of 2007. All units were sold before the
construction was actually completed.
2008 Hacettepe University Hospitals The
Morphology Building and Seventh and Eighth
Block Retrofits Completed in December 2008
at a cost of TL 71 million, the project has a total
construction area of 28,500 m2. As part of this
project, among the most important projects
undertaken by Tepe İnşaat for Hacettepe
University, the seventh and eighth blocks and
the Morphology Building were reinforced against
earthquakes. Departments such as Internal
Medicine, Urology, Neurology, General Surgery,
Brain Surgery and Gastrology were remodeled
at the seventh block. In addition, departments
of Biochemistry, Microbiology, Endocrinology,
Geriatrics, Nephrology, Infection, Rheumatology,
Hematology, Gastrology, Coronary Intensive
At a Glance
21
Care and the Emergency Room laboratories as
well as the inpatient floor were remodeled in the
Morphology Building. The project was completed
and delivered as of December 2008.
2009 Tepe Prime Comprised of Tepe Prime
Business, Tepe Prime Residence and Tepe Prime
Avenue with an indoor area of 92,800 m2, the
project aims at providing absolute comfort to its
dwellers and guests. The project is delivered to
customers in 2011.
2010 Narkule Istanbul Built in Maltepe, Istanbul
on land adjacent to Narcity, the Narkule project
was designed as a boutique project targeting
the joys of living in a high-rise with modern
architecture. With the slogan, “Some Like It High,”
Narkule combines contemporary architecture
with a youthful, dynamic, dignified and colorful
style coupled with high-quality living standards
and breathtaking scenery. Most of the 108
residential units in the 27-story Narkule project
have a splendid view of the forest, sea and the
islands.
2011 Privatization of Istanbul Sea Buses
Istanbul Deniz Otobüsleri Sanayi ve Ticaret A.Ş.
(İDO) was established in 1987 in an effort to help
resolve traffic congestion in Istanbul. It is now
considered to be one of the largest maritime
transport fleets in the world. It was taken over
for US$ 861 million by the Tepe-Akfen-SouterSera (TASS) consortium. This company, of which
Tepe İnşaat has a 30% share, has undertaken
important breakthroughs toward expanding its
transportation network and infrastructure.
2012 Share Selling at TAV Havalimanları A.Ş.
In 2012, Tepe İnşaat transferred its 18% stake
in TAV Havalimanları A.Ş. to Aéroports de Paris
Management, one of the world’s leading airport
operators, for US$ 414 million. Upon successfully
closing this sales transaction, realized in a period
when global markets suffered serious fragility, JCR
Eurasia Rating ratified the long-term domestic
rating of Bilkent Holding, the Company’s principal
shareholder, as “A-(Trk), and its outlook as
“stable”. Subsequent to this sale transaction,
which considerably fortified the financial
performance and market efficiency of both Tepe
İnşaat and Bilkent Holding, the Company’s share
in TAV Havalimanları A.Ş. came to 8.1%.
Narlife Project In 2006, Tepe İnşaat entered the
housing sector at a fair gallop with its Narcity and
Narkule projects completed in the Maltepe region
of Istanbul, and commenced the construction
works of the Narlife project in the same region.
Located on a total area of 29,500 m2 with
Princes Islands views, the project offers 609
flats with one, two, three or four bedroom and
duplex apartment options, together with social
facilities of 2,000 m2 made available to residents,
comprising outdoor and indoor swimming pools
and a children’s pool, as well as a playground,
sauna, fitness hall, market and café, together
reflecting the Tepe İnşaat blend of quality and
aesthetics. Bringing a fresh perspective to
the housing sector, the project is planned for
completion in December 2014.
İDO-Istanbul
23
In 2012, Tepe İnşaat achieved phenomenal
success in the real estate development sector,
where it boasts valuable and
a broad portfolio.
Ali Haydar KURTDARCAN
Chairman
Abdullah Bahadır GÜNGENCİ
Executive Member
Atila Kemal OĞUZ
General Manager
24
Tepe İnşaat implements an effective risk
management policy through its subsidiaries
that focuses on different fields.
Ranked 162nd on the ENR Top 225 Contractor List
of the world’s largest construction & contracting
companies, Tepe İnşaat continued to strengthen
its position both on a national and global scale,
backed by its rich sectoral portfolio comprising
hospitals, residences, airports, terminal buildings,
pipelines, power plants, business and shopping
centers and industrial facilities.
As one of the leading companies of the Turkish
construction industry, Tepe İnşaat continued
to pursue its business development objectives
and corporate strategies in the operating year of
2012, in accordance with the goal of repositioning
in the global construction sector and prominent
investment projects, expected to reach a volume
of US$ 12.7 trillion over the next decade.
Tepe İnşaat has made key contributions to the
development of the national economy, as well
as to the sectors in which it operates with its
prestigious projects completed since inception.
And as a pace-setter in terms of its corporate
structure, the Company has recently continued
to support the steady development of the
national economy through İDO (Istanbul Sea
Buses) and TAV Havalimanları Holding A.Ş., its
affiliates, together with a successful performance
in the construction sector, the Company’s core
business.
Holding a broad portfolio with respect to real
estate development, one of its core fields of
activity, Tepe İnşaat continued to complete
substantial projects. Designed to provide an
alternative focal point for the business world in
Ankara, Tepe Prime earned much appreciation for
its new office space in the capital city of Turkey.
The project comprises a 10-storey residential
building where units are designed independently
of each other, as well as two office towers of 18
and 19 floors, respectively. Customers’ quality of
life has been remarkably improved owing to the
scheme’s contemporary design and intelligent
building features, as well as the ecological
approach they reflect.
The Taurus Shopping Mall, another landmark
project completed by Tepe İnşaat in Ankara, is
at the delivery stage. The mall is expected to
become operational at the end of 2013, and to
bring further enjoyment and convenience to the
lives of Ankara’s residents. Another project for
885 residences to be executed in the Çayyolu
region of Ankara is currently at the design phase,
with construction work anticipated to begin during
2014.
The sales activities and construction works of
Narlife, consisting of 609 units neighboring the
Narcity project that created value for the region,
are continuing at a healthy pace. Meanwhile, the
Sulaymaniyah University project, built on land
of 2 million m2 in the city of Sulaymaniyah in Iraq
as one of the Company’s outstanding overseas
projects, was delivered to the Client on schedule.
Management
25
We are intending to complete our Sheet Glass
and Automotive Glass Industrial plants in
Russia, one of our target countries in which seek
a local presence, by year-end. In addition to
three industrial plants in Turkmenistan, partially
inaugurated, the construction works of Cereal
Storage Plants at eight locations in Turkmenistan
are continuing swiftly.
Another development of importance with regard
to the Company’s sustainable financial and
operational structure is the sale of an 18% Tepe
İnşaat stake in TAV Havalimanları A.Ş. and 23.275%
of its shares in TAV Tepe Akfen Yatırım İnşaat ve
İşletme A.Ş. to Aéroports de Paris Management,
one of the world’s leading airport operators, for
US$ 414 million and US$ 23.2 million, respectively.
This transaction, the negotiations of which had
begun in 2011, was realized in a period during
which international markets were exposed to
financial crisis, uncertainty and fluctuation, and
therefore confirmed, once again, the strong brand
value of TAV Havalimanları A.Ş., our subsidiary.
Taking into account the positive effect of said
sale transaction on the financial performance of
all Bilkent Holding companies, particularly Tepe
İnşaat, JCR Eurasia Rating ratified the long-term
domestic rating of Bilkent Holding, the Company’s
principal shareholder, as “A-(Trk), with a “stable”
Outlook.
As one of the most respected companies in
the Turkish construction sector, Tepe İnşaat
will continue its operations on the foundational
principles; “being trustworthy” and “being an
enduring entity” as a company that respects
ethical values and fulfills its mission and vision of
first and foremost creating resources for Bilkent
University as an affiliate, contributing to Turkish
education, providing added value to the national
economy by engaging in production and creating
jobs, competing on a global scale in different
areas of business.
On our journey of success, we would like to
express our gratitude to our business partners,
shareholders, employees and customers who
have made it all possible. Our greatest desire is to
see our achievements multiplied in the coming
year. We believe that hard work is what we need
to do to ensure a bright future for our country
and our people, who deserve the very best of
everything.
Respectfully yours,
26
Board of Directors, Senior Management and Board of Auditors
Board of Directors
Senior Management
Ali Haydar Kurtdarcan
Chairman
Abdullah Bahadır Güngenci
Board of Directors, Executive Member
Abdullah Bahadır Güngenci
Board of Directors Executive Member
Abdullah Bahadır Güngenci was born in Ankara
in 1951 and received his BSc in Civil Engineering
at Middle East Technical University in 1976.
Güngenci worked on the Iraq-Turkey Crude
Oil Pipeline Project between 1976 and 1977
then took part in the construction of the
Petkim Aliağa Facilities Water Treatment and
Demineralization Units between 1979 and 1980.
He was employed in Bahrain at the AISCO
Iron Enrichment Plant Project and worked
in marine dredging and the construction of
the pier and plant from 1980 until 1986. He
continued his career at Günkay İnşaat in Turkey
until joining Tepe İnşaat Sanayi A.Ş. in 1994,
where he worked as Group Coordinator for
Hospital Projects. In the following years, he was
Assistant General Manager for Foreign Affairs
and for Infrastructure Projects. Güngenci was
appointed as an executive member to the
Board of Directors on April 14, 2010 and also
serves on the Boards of Tepe Türkmen İnşaat ve
Ticaret A.Ş., Park Villa İnşaat ve Turizm A.Ş. as a
Vice Chairman, and also Board Member at İDO
Istanbul Deniz Otobüsleri San. ve Tic. A.Ş., Dilek
İnşaat ve Tic. A.Ş., and Antepe Sağlık ve Turizm
Hizmetleri Tic. Danışmanlık A.Ş.
Abdurrahman Kürşat Aydoğan
Board of Directors Member
Önder Sezgi
Board of Directors Member
Board of Auditors
Alaaddin Tabur
Gürkan Özaslan
Management
27
Atila Kemal Oğuz
General Manager
Atila Kemal Oğuz was born in Kayseri in 1963
and graduated from Kuleli Military High School
in 1982; he earned his BSc in Civil Engineering
in 1989 at Yıldız Technical University. He began
his professional career at Ran İnşaat and then
joined the Tepe Group, working at Arge Gim &
Tepe İş Ortaklığı. Until 2000, he served as Site
Manager and Project Manager at Tepe Yapı A.Ş.
and continued as Site Manager and Project
Manager at Zafer İnşaat A.Ş. and as Company
Manager at Normapetus International. In 2006,
he became General Manager at Innova İnş.
ve Müt. and Eser Taah. ve San. A.Ş. Oğuz, with
experience working in diverse locations such
as Croatia, Russia, Azerbaijan, Kazakhstan,
Georgia, Germany, Iraq and Afghanistan, has
been General Manager at Tepe İnşaat since
September 2010, in addition to his Board
Membership at Tepe Türkmen İnşaat ve Tic. A.Ş.
Mustafa Kalender
Deputy General Manager, Financial and
Administrative Affairs
Mustafa Kalender was born in Mengen,
Bolu in 1964 and earned his BA in Business
Administration at Anadolu University in 1987.
He began his professional career at Tepe
İnşaat since 1988 as Finance Supervisor. He
was later appointed Head of Finance and
then Finance Manager and currently serves as
Deputy General Manager of Financial Affairs.
Between 2005 and 2010, Kalender also served
as a member on the Board of Directors at Tepe
İnşaat. He also serves on the Board at TAV
İşletme Hizmetleri A.Ş., TAV Gazipaşa Yatırım,
Yapım ve İşletme A.Ş., TAV Özel Güvenlik
Hizmetleri A.Ş., TAV Bilişim Hizmetleri A.Ş.,
TAV Latvia Sia, Dilek İnşaat ve Ticaret A.Ş.,
and Antepe Sağlık ve Turizm Hizmetleri Tic.
Danışmanlık A.Ş., Bilbak A.Ş. and Bildes A.Ş.
Ali Karaca
Deputy General Manager, Domestic Projects
Ali Karaca was born in Kahramanmaraş in 1964
and graduated from the Isparta Faculty of
Engineering at Akdeniz University in 1988. He
was employed at Kür İnşaat Sanayi A.Ş. and
Nazmi Kürüm İnşaat A.Ş. until 1992, when he
began working at Tepe İnşaat Sanayi A.Ş. and
served as Field Engineer, Site Manager and
Project Manager until 2004 when he became
the Domestic Projects Coordinator. At the end
of 2009, he was appointed Deputy General
Manager of Domestic Projects.
Bakü Ceyhan Pipeline
29
Operation Map
Istanbul
Narcity, Narkule and
Narlife Projects
Ankara
Construction of the Ankara
Taurus Balgat Shopping
Mall Construction of the
Hacettepe University
Hospitals Modification and
Major Repair Works, Dolphin
Söğütözü Office Building
Ankara
Tepe Prime Project
Elazığ
Fırat University Training &
Research Hospital, Fırat
University Indoor Sports Hall
and Annexes
Iraq
Construction of
Sulaymaniyah University
Campus
Russia-Tatarstan
Trakya Glass Russian Zao
Float Plant
Russia-Tatarstan
Automotive Glass Alliance
Russian ZAO Auto-glass Plant
Turkmenistan
Turkmenistan Completion
Works for five Silos,
Turkmenistan Construction
of eight Silos
Domestic
Investment
Projects
Domestic
Contracting
Projects
Overseas
Contracting
Projects
31
Bilkent
Holding has expanded its
established domestic experience to an
international level with operations in
the Middle East, North Africa, the Turkic
Republics, Eastern Europe and Russia. Management
32
Contracting Projects ( Domestic )
Fırat University
Indoor Sports Hall and Annexes
The Fırat University Multi-Purpose Sports
Hall has a 200 m2 tartan track, and is the
second largest arena
in Turkey for the holding of indoor
athletics competitions.
Commencement Date
November 24, 2010
Total Construction Area (m²)
15,884
Delivery Date
December 31, 2012
Client
Fırat University
The Fırat University Multi-Purpose Sport Hall,
awarded under a unit price based contract,
is located within the Presidency Campus and
above the technical Training Faculty building.
Designed as a multi-purpose sports hall a 7-8
thousand seat capacity, consisting of two
annexes and a hall, the project was completed
and delivered to the Presidency of Fırat
University at the end of 2012. With its
200 m2 tartan track and the second largest
arena in Turkey for the holding of indoor
athletics competitions, the sports hall is
expected to make an important contribution to
the socio-economic life of Elazığ.
Operations in 2012
33
Construction of Taurus Balgat
Shopping Mall
Commencement Date
May 04, 2011
140,000
Taurus Mall is located on 26,000 m2 situated
on the famous north-south axis in Ankara (the
road to Konya). The shopping center, which is
connected to an office tower with a 28,000 m2
construction area, has a total construction area
of 140,000 m2 of which 41,000 m2 are leasable.
Delivery Date
May 31, 2013
Client
Taurus Balgat AVM
Yatırım A.Ş.
34
Modification and Large-Scale Repair of
Hacettepe University Hospitals
Commencement Date
October 09, 2009
80,000
Delivery Date
December 31, 2013
Client
Directorate of
Strategy Development,
Hacettepe University
One of the most significant projects Tepe İnşaat
has undertaken for Hacettepe University, this
project started in 2009. It encompasses the
construction, production and renovation of
inpatient floors, meeting halls, polyclinics and
a cafeteria, as well as additional construction,
installation and electricity work, air conditioning,
automation, production of joint installations
and electricity systems, all to be carried out with
first rate materials and workmanship. The aim is
to complete the modification and repair works
that commenced in 2009 during 2013.
Operations in 2012
35
Fırat University Teaching and
Research Hospital
Commencement Date
April 01, 2009
140,000
Delivery Date
December 31, 2013
Client
Fırat University
A 600-bed research hospital is currently under
construction for Elazığ as part of the project by
Fırat University. In accordance with Article 44
of the State Tender Law No. 2886, four tenders
were held in 1985, 1993, 1997 and 2002.
The project area, designated as 108,000 m2
during the first tender, was revised and
increased to 140,000 m2 to meet additional
needs in 1998. A total of 90,000 m2, which
includes blocks S1 to S16 (three stories), block
S9 (eight stories), blocks P1, P2 and P3 (twelve
stories) and transition blocks P2 to O (ten
stories), have been completed and are currently
in service. Block O, which will cover a total area
of 40,000 m2, will include four buildings with
seven stories each; it will be completed at the
end of 2013.
36
Dolphin Söğütözü
Office Building
Commencement Date
January 24, 2012
19,649
Delivery Date
November 09, 2013
Client
Dolphin Gayrimenkul
Yatırım ve Geliştirme
Ltd.
Tendered by “Dolphin Gayrimenkul Yatırım
ve Geliştirme Limited Şirketi” on a “Build” and
“Lump Sum Fixed Price” basis, and located on
city block 28381 plot 2 in the Çankaya district
of Ankara, the project comprises the turnkey
delivery of a “Class A” office building, including
the construction, power and mechanical, as
well as related infrastructure and landscape
works. The office building, a focal point erected
on land of 184 m2 located on the east/west
axis (Eskişehir road) of Ankara, consists of four
underground floors, a ground floor, 11 typical
floors, a plant floor and a penthouse.
Operations in 2012
37
Contracting Projects ( Overseas )
Automotive Glass Alliance Russian
ZAO Auto Glass Plant
Backed by its long-established experience
gained in the industrial facilities segment,
Tepe İnşaat continues to realize
large-scale construction & contracting
projects in the rapidly developing
countries of Russia and Central Asia.
Commencement Date
November 25, 2011
39,728
Delivery Date
August 16, 2013
The project at the Alabuga Industrial Zone in
Yelabuga in the Republic of Tatarstan, part of
the Russian Federation, will be completed in
14 months. Within the scope of the project,
an automotive glass production plant and an
administrative building will be constructed on
42,000 m2 for the Automotive Glass Alliance
Rus ZAO Company.
Client
Automotive Glass
Alliance Russian ZAO
38
Trakya Glass Russian Zao
Float Plant
Contract Date
November 25, 2011
107,340
Delivery Date
October 23, 2013
Client
Automotive Glass
Alliance Russian ZAO
The plant, which is constructed at the Industrial
Zone in Yelabuga in the Republic of Tatarstan,
part of the Russian Federation, is comprised
of glass production buildings (furnace, bath,
annealing, batching, galleries, etc. on 35,000 m2),
the mirror and coating building (16,000 m2), a
warehouse (46,000 m2) and additional buildings
including a recreation building, heat boiler, LPG,
generator room, etc. (9,000 m2). The project is
planned to be completed within 23 months. The
delivery date is planned as October 23, 2013.
Operations in 2012
39
Northern Iraq
Sulaymaniyah University
Contract Date
January 17, 2005
324,397
Delivery Date
May 31, 2013
Client
Republic of Iraq,
Ministry of Higher
Education & Scientific
Research
The new campus construction project of
Sulaymaniyah University, located in the city of
Sulaymaniyah in Northern Iraq, is being carried
out by the joint venture of Tepe İnşaat and
FDC, on a 75%-25% share basis. The campus
project, built on land of 2 million m2, and
with a capacity of 25,000 students, includes
faculty buildings, multi-purpose indoor and
outdoor sports facilities, swimming pools,
health center, male and female dormitories,
and an outdoor amphitheater, as well as a
cafeteria and social facilities. The campus
project, highly contemporary in nature in
terms of its infrastructure and landscaping,
includes a total of 53 buildings and premises.
Work is being carried out concurrently on 20
different buildings, with infrastructure and
landscape works, and construction is planned
for completion in 2013.
40
Turkmenistan Completion Works
for Five Silos
Contract Date
November 09, 2012
Delivery Date
December 31, 2013
The facilities, built in five provinces of
Turkmenistan (Turkmenabad, Ruhabad, Serdar,
Mary, and Daşoğuz), are equipped with a bakery,
pasta production and packaging production
units. The Company aims to deliver the projects
during 2013.
Client
Turkmenistan Union of
Cereal Products
Operations in 2012
41
Turkmenistan
Construction of Eight Silos
Contract Date
December 01, 2012
360,000
Delivery Date
May 31, 2014
Consisting of the design and construction of
silos of a total capacity of 360,000 tons, and
the rehabilitation of adjacent areas located in
eight provinces of Turkmenistan (Altınsahra,
Tejen, Babadayan, Karakum, Garıssızlık,
Sparmyrat, Boldumsaz, and Beyik), the project
is planned for completion in May 2014.
Client
Turkmenistan Union of
Cereal Products
42
Investment Projects
Narlife
Housing Project
Commencement Date
September 2012
122,668
Delivery Date
June 2015
Total Number of Units
609
The project, being built on the last tract of
valuable land in the Maltepe region of Istanbul,
and adjacent to the Narcity and Narkule
projects, consists of a total of 609 units with
studio, one, two, three and four bedroom,
and duplex apartment options in three blocks
erected on a construction area of 72,000 m2.
The project also includes the construction
of indoor social premises of approximately
2,000 m2, an indoor and outdoor swimming
pool, outdoor sports facilities and walking
trails. Meanwhile, Kiptaş, Fuaye and Nish
Adalar projects are erected on adjacent land.
Additionally, there are ongoing private school
and housing projects within the same region.
Operations in 2012
43
Located within natural pinewood with views of
the Princes Islands, the project is distinguished
by its proximity to main roads, as well as by
the green area covering 60% of the total
land area. Located next to the Yeditepe and
Maltepe University campuses, and 3 km from
the E5 highway, 5 km from the coastal road,
6 km from the TEM Highway and 20 km from
Sabiha Gökçen Airport, the project offers easy
access to main arterial roads. Addressing the B+
residence customer profile, the project is also
adjacent to the Süreyya Paşa Chest Disease
Hospital, the only local hospital specialized
in this branch of medicine. The project, also
boasting standards normally found in the
A segment, has been nominated for LEED®
Gold Certification, awarded by the US Green
Buildings Council (USGBC).
Commencing in September 2012, the project’s
units were offered for sale in October of the
same year. Block C from among blocks A, B and
C, will be completed and delivered in March
2014, one year ahead of schedule. Units in
Blocks A and B will be delivered in March 2015,
as planned.
44
Tav HavalimanlarI ( Tav Airports )
In 2012, TAV Havalimanları commenced the
construction of the İzmir Domestic Terminal, a
project with a total value of € 250 million.
1997
2005
TAV was founded.
TAV won the tender for the lease of operating
rights of the Atatürk Airport International and
Domestic Terminal Buildings, Parking Garage
and the General Aviation Terminal for 15.5 years.
ATÜ, which provides duty-free shopping
together with BTA, which provides catering
services, were established under the TAV
umbrella.
1999
ATÜ, which provides duty-free shopping under
TAV Havalimanları, and which joined the TAV
organization and BTA, which provides catering
services, was established.
2000
TAV began operating at the Istanbul Atatürk
Airport International Terminal.
2001
“Primeclass” CIP service was launched.
2004
TAV Istanbul Terminal İşletmeciliği A.Ş. was
founded.
TAV began operating Atatürk Airport Domestic
Terminal.
60% of Havaş shares were purchased.
Construction and operation of the Izmir
Adnan Menderes International Terminal
was transferred to TAV. TAV Izmir Terminal
İşletmeciliği A.Ş. was founded.
TAV Bilişim Hizmetleri A.Ş. was founded. TAV
won the tender for Tbilisi International Airport
in Georgia.
2006
BTA began operating the Istanbul International
Airport Hotel.
Operation and construction services were
restructured under two separate companies,
TAV Havalimanları Holding A.Ş. and TAV İnşaat.
TAV undertook the construction and operation
of the Esenboğa Airport Domestic and
International Terminal.
Izmir Adnan Menderes Airport International
Terminal commenced operation.
TAV Esenboğa Yatırım Yapım ve İşletme A.Ş. was
founded.
TAV İşletme Hizmetleri A.Ş. was founded.
Esenboğa Airport Domestic and International
Terminal commenced operation.
TAV Özel Güvenlik Hizmetleri A.Ş. was founded.
Operations in 2012
45
2007
TAV Havalimanları Holding was offered to the
public.
The new passenger terminal at the Tbilisi
International Airport commenced service.
Batumi International Airport commenced
operation.
TAV Havalimanları won the tender for the
operation of the Antalya Gazipaşa Airport.
The Hopa Terminal operated by Havaş
commenced service.
2008
TAV Batumi Operations LLC. was founded.
TAV Havalimanları took over the operation of
the Monastir Habib Bourguiba International
Airport in Tunisia.
Monastir Habib Bourguiba and Enfidha Zine El
Abidine Ben Ali International Airports in Tunisia.
TAV Gazipaşa Yatırım, Yapım ve İşletme A.Ş.
was founded to operate the Antalya Gazipaşa
Airport.
TAV Tunisie SA was founded.
TAV Havalimanları won the tender for
the operation of the Alexander the Great
International Airport in Skopje, capital city
of Macedonia and the St. Paul the Apostle
International Airport in Ohrid, Macedonia, as
well as the construction of the New Cargo
Airport in Shtip, of which TAV Havalimanları
Holding also had the optional rights to operate;
related concession contracts were signed.
Groundbreaking ceremony for the Tunisia
Enfidha Zine El Abidine Ben Ali International
Airport was held.
40% minority shares of Havaş were purchased.
Havaş then became a wholly-owned subsidiary
of TAV Havalimanları Holding.
TAV Havalimanları Holding became the sole
owner of TAV Izmir and TAV Esenboğa.
Havaş won the tender to become a shareholder
with a 50% stake in TGS (Turkish Ground
Services Co.), an affiliate of Turkish Airlines.
46
TAV Havalimanları assumed the operation of
Medina International Airport, where it holds
equal shares (33%) with Al Rajhi Holding Group
and Saudi Oger Ltd. as of end-June.
2009
2010
The capital of TAV Havalimanları Holding A.Ş.
was raised from TL 242,187,500 to
TL 363,281,250 in cash.
TAV Havalimanları Holding took over the
operations in Skopje and Ohrid airports in
Macedonia for 20 years.
A contract was signed for the transfer of the
15% of the minority shares of TAV Tunisie SA,
previously wholly-owned by TAV Havalimanları
Holding A.Ş., to International Finance
Corporation (IFC), a World Bank affiliate, for
€ 27,999,825 on June 30, 2009.
Sale of Havaş shares closed.
As of July 13, 2009 operations commenced at
the Antalya Gazipaşa Airport, whose operation
rights for 25 years belong to TAV Gazipaşa
Yatırım Yapım ve İşletme A.Ş., a company
wholly-owned by TAV Havalimanları Holding A.Ş.
TAV Havalimanları Holding A.Ş. and the AL-RAJHI
Holding Group, established and operating in the
Kingdom of Saudi Arabia, signed a joint venture
contract on November 9, 2009.
TAV Tunise SA, 85% of which is owned by TAV
Havalimanları Holding, began operating the
Enfidha Zine El Abidine Ben Ali International
Airport. The Company owns the operation rights
of the airport until May 2047.
The sale of the 18% minority shares of TAV
Tunisie SA to the Pan African Infrastructure
Development Fund closed.
The expansion project of the Istanbul Atatürk
Airport’s Domestic and International Terminals
was completed.
Havaalanları Yer Hizmetleri A.Ş. (HAVAŞ)
acquired 50% of the shares of the North Hub
Services (NHS), a provider of ground handling
services at Riga Airport, Latvia.
A memorandum of understanding was signed
for the construction and operation of the new
terminal building at the Riga Airport, Latvia. TAV
Havalimanları and Air Baltic, Latvia’s leading
airline company, decided to become 50-50
partners in this joint venture.
TAV İşletme Hizmetleri A.Ş. launched the TAV
Passport card that offers various services and
privileges at airports operated by TAV.
Antalya Gazipaşa Airport was upgraded from
category 2C to 3C.
TAV signed a “Global Training Center”
agreement with the Airports Council
International (ACI), with more than 1,600
member airports worldwide.
Operations in 2012
47
operation of duty free, catering and other
commercial venues at the Riga Airport, Latvia.
A memorandum of understanding was signed
with the Indonesia-based Sigma Group/PT Wira
Cipta Sukses and the Indonesian Government
for cooperation on potential airport projects in
the country.
BTA took over the operation of five service
points (Kantin, Beerport, Kokpit Cafe, Kokpit
Brasserie and Botanik Café at the domestic
terminal) at the Istanbul Atatürk Airport
Domestic Terminal as of July 1, 2010.
The Corporate Governance Rating Score of TAV
Havalimanları Holding was raised from 83.3 (8.5)
in 2009 to 9 in 2010.
2011
Following the takeover of commercial venues,
operations commenced at the Riga Airport,
Latvia.
TAV Havalimanları Holding raised its share in
TAV Özel Güvenlik Hizmetleri A.Ş. from 66.67%
to 100%.
TAV Urban Georgia from 66 to 76%.
TAV Batumi Operations LLC from 60 to 76%.
The construction of the new terminal at Skopje
Airport was completed and put into service.
Together with its partners Al Rajhi and Saudi
Oger, TAV Havalimanları signed a contract with
the General Authority of Civil Aviation of Saudi
Arabia for the build-operate-transfer project of
the Medina Airport, the first airport privatization
to take place in Saudi Arabia.
TAV Havalimanları launched TAV Mobile that
enables access to real time information at the
airports it operates.
Giving the best offer, on November 17, 2011, TAV
Havalimanları Holding won the tender for the
lease of operating rights of the International
Terminal, CIP, Domestic Terminal and their
components at the Izmir Adnan Menderes
Airport.
A subsidiary of TAV Havalimanları Holding with
a 65% share, Havaalanları Yer Hizmetleri A.Ş.
(HAVAŞ) raised its share capital in North Hub
Services (NHS). This company provides ground
handling services at the Riga International
Airport in Latvia, Stockholm International
Airport in Sweden and Helsinki International
Airport in Finland. Stock increased from 50 to
66.7% as of December 20, 2011. NHS will be
providing services as HAVAŞ EUROPE at these
airports.
BTA Denizyolları was founded by the 50-50
joint venture between BTA and TASS; BTA
commenced its operations at İDO.
48
TAV Havalimanları received the “Corporation with
the Highest Score” award at the 3rd Corporate
Governance Awards organized by the Corporate
Governance Association of Turkey (TKYD).
2012
The agreement on the sale of a 38% stake in TAV
Havalimanları to Aéroports de Paris Group for
US$ 874 million was signed on March 11, 2012.
Upon the meeting of prerequisites as per the
share purchase agreement, the transfer of
shares was realized on May 16, 2012.
In June, TAV Havalimanları laid the foundation
of the İzmir Domestic Terminal, a project with a
total value of € 250 million.
TAV Havalimanları assumed the operation
of Medina International Airport, currently in
operation, wherein it holds equal shares (33%)
with Al Rajhi Holding group and Saudi Oger Ltd.,
as of end June.
“Primeclass” CIP services, launched in 2001 by
TAV İşletme Hizmetleri (Operating Services) at
the Istanbul Atatürk Airport, became available
at 77 points throughout the world, at prices
starting from € 60, in cooperation with overseas
establishments.
TAV Havalimanları received the “Corporation
with the Highest Score” award at the 3rd
Corporate Governance Awards organized by the
Corporate Governance Association of Turkey
(TKYD).
TAV Bilişim received ISO 27001:2005
Information Security Administration System
Certification, granted to very few companies in
Turkey.
TAV Havalimanları launched a common phone
number for its call centers at the airports
it operates in Turkey with the purpose of
effectively responding to passenger complaints
and requests.
Aiming to reduce announcement density and
offer a practical solution to passengers, the
“Meeting Point” application, developed by
TAV Bilişim entered use on the arrival floor at
the International terminal of Istanbul Atatürk
Airport, enabling arriving passengers to
conveniently meet those awaiting them.
TAV Tunisia hosted the 47th ACI Board of
Directors Meeting held during 16-20 April with
the participation of 59 members operating 249
airports in 47 countries.
Atatürk Airport was awarded Airport without
Hindrances certification.
TAV Bilişim collected the second prize at the IT
Summit ’12 for its resources utilization system
project respectively implemented at King Khalid
and King Fahd Airports in Riyadh and Dammam,
Saudi Arabia.
TAV Havalimanları ranked first in the European
Investor Relations Survey, conducted annually
by Thomson Reuters Extel Surveys throughout
European countries, as “Turkey’s Best Company
in Investor Relations” (ranked third in the peer
group in Europe) and “Turkey’s Best Investor
Relations Executive” (ranked second in the peer
group in Europe).
Operations in 2012
49
TAV Istanbul received ISO 10002 Certification,
one of the standards of Customer Satisfaction
Management.
Pursuant to the acquisition agreement signed
for the remaining 35% stake in Havaş, the share
transfer transaction was closed.
TAV Istanbul received Environmental
Management System (ISO 14001:2004) and
Occupational Health and Safety management
System (OHSAS 18001:2007) Certification.
At the record breaking attempt organized
by the Danskeyfi Dance Academy at Atatürk
Airport with the support by TAV Havalimanları,
198 couples performing a Bachata dance for
five minutes successfully became the highest
number of couples to dance faultlessly and
synchronously, in a performance that entered
the Guinness Book of Records.
The cash dividend distributed by TAV
Havalimanları among its shareholders
amounted to a gross TL 90,820,312, where a
gross TL 0.25 was paid for each share with a
nominal value of TL 1.0
Established in 1997 as a joint venture between
Tepe and Akfen Groups, TAV Havalimanları
Holding has become a brand with an excellent
international reputation in the industry today
with the 11 airports it operates in Turkey and
abroad. Starting its journey of success by
undertaking the Istanbul Atatürk Airport
International Terminal project, one of the first
airport projects in the world undertaken with
the Build-Operate-Transfer method, the Holding
continues its financial and operational success
today with its airports in the three largest cities
in Turkey (Istanbul Atatürk, Ankara Esenboğa,
Izmir Adnan Menderes) as well as airports in
Tunisia, Georgia, Macedonia, Latvia and Saudi
Arabia.
Achieving global success in airport operations,
one of the most challenging industries in the
world, TAV Havalimanları Holding continues
to increase its shareholder and investor value
with its sustainable financial structure and
competent human resources assets.
In order to advance more steadily toward its
long-term growth targets, TAV underwent a
restructuring process in 2006 and organized its
activities into “operations” and “construction”
under two separate companies, TAV
Havalimanları Holding and TAV İnşaat. Following
the restructuring process, TAV Havalimanları
Holding went public in February 2007. After this
development, which provided the Company
with a stronger corporate and financial
structure, TAV Havalimanları Holding grew
rapidly and increased the number of airports
it operates along with its service range and
profitability.
50
TAV Havalimanları Holding has become an
internationally renown brand in its sector for 11
airports where it holds the operating rights, both in
and beyond Turkey.
TAV Havalimanları Holding Shareholding
Structure Company
Name Shares(1)
Capital Share (%)
138,046,875
38.0
Tepe İnşaat Sanayi A.Ş.
29,273,852
8.1
Akfen Holding A.Ş.
29,495,446
8.1
Aéroports de Paris
(*)
Sera Yapı Endüstrisi ve Ticaret A.Ş.
7,379,507
2.0
12,775,048
3.5
Floating Part (Other)
146,310,522
40.3
Total
363,281,250
100
Non-floating Part(Other)
(1) As of December 31, 2011 Akfen Holding A.Ş., Tepe İnşaat Sanayi A.Ş. and Sera Yapı Endüstrisi ve Ticaret A.Ş., partners of TAV Havalimanları
Holding A.Ş., publicly announced on March 12, 2012 that a Share Purchase Agreement was signed with Aéroports de Paris Group for the sale
of 38% of TAV Havalimanları Holding’s issued share capital. On May 16, 2012 it was announced that the necessary permits mentioned in the
Agreement were obtained, approval from Turkey’s Competition Authority was received and the necessary procedures were completed in
accordance with the Capital Market Legislation and that the transfer of the shares was completed.
(*) Tank ÖWA alpha GmbH, a wholly-owned subsidiary of Aéroports de Paris.
Service Companies 2012 Indicators
Turnover (€ Million)
Number of Personnel
ATÜ
255
1,551
BTA
115
2,642
HAVAŞ
211
11,082
Others
92
833
673
16,108
Total
Operations in 2012
51
Atatürk Airport-Istanbul
52
As of the end of 2012, TAV Havalimanları’s revenue
generated from the airport operation business
had reached € 633.5 million.
TAV Havalimanları 2012 Indicators Airport
Operation
Istanbul Atatürk
Airport
Turnover Number of
(€ Million) Personnel
414
Car Parking
Passenger Commercial
Capacity
Traffic Flight Traffic Expiration (Outdoor +
(Persons) (Thousand) of Operation
Indoor)
2,640 44,998,508
346,000
01.2021
8,110
Ankara Esenboğa
Airport
45
872
9,237,886
75,000
05.2023
4,053
İzmir Adnan
Menderes Airport
57
623
9,356,284
67,000
12.2032
2,237
Gazipaşa Airport
0,5
19
79,740
578
05.2034
150
-
3
4,800,000
68,570
01.2021
-
31
794
1,219,000
19,600
02.2027
532
168,000
4,046
08.2027
100
836,000
10,400
03.2030
1,206
78,000
866
03.2030
230
3,321,244
274,350
05.2047
13,077
05.2047
130,000
2037
1,150
Riga Airport
Tbilisi Airport
Batumi Airports
Skopje Airport
18
648
Ohrid Airports
Monastır Airport
51
748
Enfidha Hammamet
Airports
Medina Airport
17
254
4,600,000
Operations in 2012
36,300
53
TAV Havalimanları Indicators 2012 Airport
Operation
Istanbul Atatürk
Airport
Ankara Esenboğa
Airport
Duty
Free Number of
Area Duty Free
(m2)
Stores
6,157
2,387
26
7
Number of
Boarding
Bridges
Number
of Check-in
Counters
Number of
Destinations
12 domestic
flights, 26
international
14,936
flights
96 domestic
flights, 224
international
flights
37 domestic
flights, 248
international
flights
80 domestic
flights, 78
international
flights
37 domestic
flights, 47
international
flights
66
6 domestic
flights, 60
international
flights
Food
Court
5,200
18
5 domestic
flights, 4
international
6,199
flights
İzmir Adnan
Menderes Airport
2,403
11
Gazipaşa Airport
127
2
375
-
6
12 international
flights
2,600
-
-
-
-
-
Riga Airport
352
2
1,100
3
24
2 domestic
flights, 34
international
flights
64
1
64
-
6
7 international
flights
Skopje Airport
450
2
1,000
6
23
29 international
flights
Ohrid Airports
20
1
90
-
6
10 international
flights
Monastır Airport
1,431
3
1,019
-
46
70 international
flights
Enfidha Hammamet
Airports
1,930
6
950
18
62
78 international
flights
-
12 domestic
flights, 14
international
flights
10 domestic
flights, 189
international
flights
Tbilisi Airport
Batumi Airports
Medina Airport
6,300
19
1,997
54
TAV İnşaat ( TAV Construction )
As of 2012, a total of 1,886 personnel are employed
within the organization of TAV İnşaat, including
Dubai and Sharjah, as well as Abu Dhabi, Qatar,
Egypt, Libya, Bahrain and Saudi Arabia branches.
The first airport project management
engagement of TAV Tepe Akfen Yatırım İnşaat ve
İşletme A.Ş. (TAV İnşaat) was the construction
of Istanbul Atatürk Airport, completed in 1997.
Following the reorganization process carried
out in line with its strategic targets, the
Company was incorporated, and TAV İnşaat
left the organization of TAV Havalimanları
Holding A.Ş. The Company has become one
of the pioneering brands in the national and
international construction industry, having
undertaken skyscraper, high-rise building and
similar projects in Turkey, further to building
airports.
Achieving remarkable success on international
platforms owing to its farsighted investments
and strong financial structure, TAV İnşaat is
engaged in contracting for airport terminals,
hangar and facilities, as well as shopping
centers, tourism facilities, entertainment
venues, offices, industrial buildings, residences
and social housing, roads, tunnels, subways,
bridges, dams, telephone lines and similar
infrastructure, plus cultural and social venues
and the direct construction of such buildings.
The Company operates either through the
Build-Operate-Transfer model, mixed model, or
else in return for a flat model, and the operating,
marketing, selling and leasing operations
thereof. It is engaged in other construction and
contracting works, including consulting and
inspection services in these fields.
TAV İnşaat, headquartered in Istanbul, has
built numerous airports in Turkey, as well as
in Egypt, Georgia, Qatar, Libya, Tunisia, and
Macedonia, among others. The Company
has two overseas affiliates: TAV Construction
Muscat LLC in Oman, and TAV Construction
Qatar LLC in Qatar. As of 2012, a total of
1,886 personnel were employed within the
organization of TAV İnşaat, including Dubai
and Sharjah, Abu Dhabi, Qatar, Egypt, Libya,
Bahrain and Saudi Arabia branches. Prioritizing
greater customer satisfaction in all activities
carried out by its well-trained staff, TAV İnşaat
has achieved a formidable volume of business
having established fruitful partnerships with
world-renowned construction industry players.
The Company defines its growth policy for the
coming periods by assessing potential growth
and market opportunities in Turkey and the
Middle East, Asia, Africa, Eastern Europe and the
Caucasus.
Operations in 2012
55
TAV İnşaat Shareholding Structure
Trade name of Shareholder
Share (%)
Aéroports de Paris Grubu
49
Tepe İnşaat Sanayi A.Ş.
24.2
Tepe Savunma ve Güvenlik Sistemleri Sanayi A.Ş.
-
Tepe Mobilya Sanayi ve Ticaret A.Ş.
-
Akfen İnşaat Turizm ve Ticaret A.Ş.
-
Akfen Holding A.Ş.
21.7
Akfen Holding A.Ş.
5.1
56
TAV İnşaat ( TAV Construction )
Completed Projects
Location
Project
Project Size
(US$ Million)
TAV’s Share
(US$ Million)
Steel Roof Construction project
Dubai-BAE
26
26
Al Sharaf Shopping Mall
Dubai-BAE
34
34
Tohid Iranian School Project
Dubai-BAE
9
9
Domestic ve International Flight Terminals
Turkey
375
375
Istanbul Atatürk Airport Terminal Building and
Multi-Storey Car Parking Project
Turkey
490
397
Istanbul Atatürk Airport Renovation ProjectTurkey
Turkey
60
60
İzmir Adnan Menderes Airport International
Flights Terminal Building
Turkey
242
242
İzmir Adnan Menderes Domestic Flights Terminal
(Additional Works) Project
Turkey
16
16
Batumi Airport Project
Georgia
29
29
Tbilisi Airport Project
Georgia
62
62
Egypt
493
395
New Enfidha Airport Project
Tunisia
555
555
Istanbul Atatürk Airport Expansion and
Improvement ProjectTurkey
Turkey
89
89
Sharjah-BAE
43
43
Title and Subject of Project
Emirates Airlines A380 Maintenance Hangars Ankara Esenboğa Airport
Cairo Airport TB3 Passenger Terminal Building Project
Majestic Tower Al Mamzar-52-Story Luxury
Residence ProjectSharjah-BAE
Antalya Gazipaşa Airport
Turkey
21
21
Dubai –BAE
104
104
Skopje and Ohrid Airport
Macedonia
111
111
Emirates Finance Towers Project
Dubai-BAE
116
116
Abu Dhabi-BAE
62
31
Turkey
51
51
2,988
2,766
Sulafa Tower
Abu Dhabi-Pile head Manufacturing
Istanbul 2010-2011 Investments
Total
Operations in 2012
57
Ongoing Projects (as of 31.12.2012)
TAV İnşaat
Share in
Actual
Backlog
Contract Progress
(US$
Value (US$ 31.12.2012
Million)
Million)
(%) 31.12.2012
Client
TAV
İnşaat
Share
(%)
Total
Contract
Value
(US$ Million)
M/S Sheffield
Holdings Limited
100.0
198
198
57.8
73
Libya-Tripoli
International
Airport
The Libyan
Civil Aviation
Authority
25.0
2,103
526
36.9
323
Libya-Sebha
International
Airport
The Libyan
Civil Aviation
Authority
50.0
229
115
7.0
115
Government
of The State of
Qatar
35.0
3,983
1.394
99.7
9
Oman Muscat
International
Airport
Sultanate of
Oman Ministry
of Transport and
Communication
50.0
1,170
585
73.1
121
İzmir Airport
Project
TAV Ege
Terminal Yatırım
Yapım ve
İşletme A.Ş. 81.7(*)
362
296
21.2
241
Project Title
Dubai-Marina 101
Doha International
Airport
Medina
International
Airport
Tibah JV
50.0
954
477
15.6
426
Saudia
Aerospace
Engineering
Industries
40.0
765
306
0.0
306
Abu Dabi
Airports
Company
33.3
2,944
981
0.4
979
Total
12,707
4,877
2,594
Total Overseas Projects
12,346
4,582
2,353
Total Domestic Projects
362
296
241
King Abdul Aziz
Airport
Abu Dhabi Central
Terminal Building
(*) Although the contract for the İzmir Airport Project is fully executed by TAV İnşaat, all imports within the scope of the contract are made by
TAV Ege Terminal Yatırım Yapım ve İşletme A.Ş. Therefore, TAV İnşaat’s share is indicated as that share excluding the import value.
58
İDO Istanbul Deniz Otobüsleri ( Istanbul Sea Buses )
With its modern fleet comprised of 55 vessels,
İDO is one of the world’s leading sea
transportation companies providing services
for passengers and vehicles.
Istanbul Deniz Otobüsleri Sanayi ve Ticaret
A.Ş. (İDO) was established by the Istanbul
Metropolitan Municipality in 1987 to provide
solutions for the sea transportation in Istanbul
and help reduce the flow of traffic on the
highways.
Turkey’s largest sea transportation
company
Following the privatization of 100% of the shares
of İDO in accordance with the Privatization
Law Nr. 4046, the Company was transferred to
TASS Denizcilik ve Ulaştırma Hizmetleri Turizm
Sanayi ve Ticaret A.Ş. (TASS) on June 16, 2011,
a company founded by the joint venture with
the highest offer at the tender. With the General
Assemblies for merger held in accordance
with the Turkish Commercial Code and related
legal regulations, TASS (Tepe Akfen Souter
Sera Ortak Girişim Grubu) was transferred to
İDO on December 16, 2011 with all its rights
and obligations. The shareholders of İDO are
Akfen Holding (30%), Tepe İnşaat (30%), Souter
Investment (30%) and Sera Gayrimenkul Yatırım
(10%) (TASS). With its modern fleet comprised
of 55 vessels (25 sea buses, 18 car ferries, 10
fast ferries and two service vessels), İDO is
one of the world’s leading sea transportation
companies providing services for passengers
and vehicles.
With vessels having a total capacity to hold
32,239 passengers and 2,790 vehicles, the İDO
fleet operates in 18 lines (five inner-city and 13
inter-city lines). İDO provides sea transportation
to important points in Istanbul and around the
Marmara Sea. It holds the operating rights for up
to 30 years for most of the 35 ports in which it
operates.
Investments
Major items in the 2012 budget of İDO include
software and licenses for the information
technology necessary for the effective and
efficient management of the Company, permit
and construction work in relation to the ports
and terminals, which constitute the most
important element for the operation of the
Company and investments related to furnishing
and hardware of the terminals and ports. Other
investment items necessary to achieve the
desired level of service following privatization
may also be included within this scope.
As part of investments made and scheduled
within the Company’s strategic planning, SAP
Structuring and SAP Upgrade projects were
completed in 2012, while SAP BPC (Budget,
Planning and Consolidation) and SAP BO
project studies are currently being underway.
Additionally, transition to the Hittite Sales
System has been successfully completed.
Operations in 2012
59
İDO Financial and Operational Indicators
Business Development and Strategy
2012
Turnover
(*)
(Net Sales)
EBITDA
Number of Passengers
Number of Vehicles
Number of Trips
Number of Employees
TL 476,371,168.11
TL 165,737,608
50,911,282
9,494,896
189,643
1,068
943 (number of subcontractors’ employees)
Fleet Information
2012
Sea Bus
25
Fast Ferry
10
Ferryboat
18
Service Craft
2
Total
55
(*) The figure is obtained from the Income Statement
as of December 31, 2012.
During the period following privatization, İDO
addressed first of all the heavy vehicle traffic
through the Ro-Ro Project that has been on the
social agenda for a while. Work is being carried
out in order to effectively use the land located
in Ambarlı, one of the most valuable properties
of the Company, for both the transportation
sector and the Company. Currently, a technical
concept study is being undertaken with regard
to the aforementioned land. Following this
study, a detailed project design is planned to
be made for the possible functions for the land.
The project, of significant importance to the
transportation situation in the Marmara region
and also in terms of traffic jams in Istanbul, is
being studied and carried out with precision
by İDO. A marina project as well as integrated
transportation projects and international
projects, which would expand the Company’s
horizons in terms of project development
following privatization, are among important
issues included in the business development
agenda of the Company.
60
İDO Istanbul Deniz Otobüsleri ( Istanbul Sea Buses )
İDO ranked 254th among the largest
500 companies in Turkey according
to the Turkey Fortune 500 list.
Corporate Development of İDO
1987 The first two sea buses, each with a
capacity of 449 passengers, commenced
service. Three more sea buses were purchased
and put into service during the year.
1988 Five news vessels were purchased by the
İDO, increasing to ten the number of sea buses.
1992 Kartal and Kadıköy ports were put into
service.
1994 With the purchase of two Monohulls each
with a capacity for 155 passengers, the number
of vessels at İDO increased to 12.
1996 With the addition of two more sea buses
each with a 450 passenger capacity, the
number of sea buses reached 14.
1997 The total ships in the fleet reached 20
with the addition of three 350-passenger
sea buses, two fast ferries with a capacity to
hold 450 passengers and 94 vehicles and a
400-passenger sea bus that was manufactured
domestically for the first time at the Pendik
Shipyard of Türkiye Gemi Sanayi. A new line was
launched between Yalova and Yenikapı during
the same year that Istanbul’s first fast ferry
service got underway.
1998 Two fast ferries each with a capacity to
carry 800 passengers and 200 vehicles were
built and joined the fleet. The sea bus, Temel
Reis II, built at the Pendik Shipyard was put into
service.
2003 İDO launched an online reservation and
sale system for its intercity (ticket-based) fast
ferry and sea bus lines and began ticket sales via
credit cards.
2004 Two fast ferries, each with a capacity
for 588 passengers and 112 vehicles, were
purchased and put into service on the PendikYalova line.
2005 Two 155-passenger Monohulls were
turned over to the Izmit Municipality.
The management of the city lines, which was
previously operated by Türkiye Denizcilik
İşletmeleri (TDİ, Turkish Maritime Organization),
was turned over to İDO along with the vessels
and ports.
2007 Five new sea buses built in Singapore and
the Osman Gazi–1 and Orhan Gazi–1 fast ferries,
each with a holding capacity of 225 vehicles and
1,200 passengers, built by Austal, joined the İDO
fleet.
The domestically-manufactured car ferry
Suhulet joined the İDO fleet.
2008 Sahilbent, Suhulet’s sister vessel, joined
the İDO fleet. Sultan Ahmet and Sadabat car
ferries commenced service. Two double-ended
fast ferries, Yavuz Sultan Selim and Kanuni
Sultan Süleyman, built by DAMEN in China,
joined the İDO fleet.
Fatih, the first of the Model 4 boats chosen by
the citizens of Istanbul, was put in service.
2000 Barbaros Hayrettin Paşa and Sokullu
Mehmet Paşa, two 400-passenger sea buses
built at the Pendik Shipyard, commenced
service.
Operations in 2012
61
2009 Kadıköy, Beyoğlu, Beykoz and Sarıyer, the
other Model 4 boats, commenced service.
Yeni Haliç (New Golden Horn) boats joined the
İDO fleet.
2010 34 passenger boats and 49 intracity ports
were turned over to Istanbul Şehir Hatları Turizm
Sanayi ve Ticaret. A.Ş., a subsidiary of Istanbul
Metropolitan Municipality.
2011 İDO Sanayi ve Ticaret A.Ş. was turned over
to the TASS (Tepe-Akfen-Souter-Sera) Joint
Venture Group.
Bozcada 1 joined the İDO fleet.
A flexible pricing policy was adopted, starting
with the Bandırma line and was extended to all
intercity lines by August.
50,911,282
Total Number of Passengers Transported
7,753,102
Total Number of Vehicles Transported
32,239
2012 The İDOBÜS sales system was completed
and commenced trips in March.
Total Passenger Transportation Capacity
The SAP Restructuring Project was completed.
189,643
İDO received the “Privatization of the Year”
award for project finance in the competition
organized by the Project Finance magazine that
belongs to Euromoney Publishing Group.
Total Number of Trips
İDO ranked 254 among the largest 500
companies in Turkey according to the Fortune
Turkey 500 list.
62
Sustainability
İş Bankası Headquarters Complex-Istanbul
63
The Department of Human Resources at
Tepe İnşaat has seen another successful year
of planning, organization, management and
auditing in 2012.
As one of the prime players of the construction
sector, the most rapidly developing sector in
Turkey, Tepe İnşaat has also been the most
preferred construction company by qualified
and experienced staff in 2012.
In the belief that corporate success can only
be attained with well-educated, experienced,
committed and motivated employees, the
Company considers their experience and
performance as the guarantee of commercial
achievement. The Human Resources Policy
of Tepe İnşaat is based on contemporary
human resources implementations, together
with a long-established corporate governance
culture. Accordingly, the Company aims for
contemporary quality values and customer
satisfaction at each phase of production, as
well as pursuing continuous improvement by
providing its employees training opportunities
and ensuring their conscious participation in
the system. To this end, particular importance
is attached to professional training, whereby
the Company focuses on establishing the
most favorable environment in which to enable
employees to improve their competence
supported by corporate experience and to
attain their career goals.
Tepe İnşaat allocates a budget for the
continuous development of its employees,
and is dedicated to maximizing employee
satisfaction.
Hiring staff with significant job experience and
skills, the Department of Human Resources
at Tepe İnşaat has carried out the process
of planning, organization, management and
auditing successfully in 2012 as well.
Training Policy
In considering the satisfaction of employees’
organizational, functional and personal training
needs one of the most important factors
ensuring sustainable corporate development,
Tepe İnşaat establishes an annual training
plan based on training requests received from
company departments at the Annual Training
Board Meeting, chaired by the General Manager.
And what’s more, as a company operating in
the international arena, Tepe İnşaat provides
domestic, as well as international training
opportunities.
All courses are followed up with Personal
Training Assessments and Training Activity
Assessments along with data gathered from
these assessments and are used for the annual
training plan for the following year.
Organizational Training: Training develops
the knowledge and skill of the employees
and aims at organizational sustainability and
organizational efficiency of the Company in
line with the short and long-term goals of Tepe
İnşaat.
64
Age Profile
Qualification
Profile
27%
31-40
38%
Other
10%
20-30
32%
Technical Staff
63%
41 and above
30%
Administrative Staff
Experience Profile
Gender Profile
14%
15 + years
87%
Male
57%
1-5 years
13%
Female
29%
6-15 years
Sustainability
65
Professional Training: Training provides
the knowledge and skills required for career
development in a particular profession in line
with the career plans of the Company.
Personal Training: This training provides the
knowledge and skills required for a person or a
particular group of people that do the same job
at the Company.
Staff Breakdown
Education
Profile
19%
Headquarters
13%
Elementary School
23%
International Contracting Projects
11%
Associate Degree
28%
Domestic Investment Projects
49%
Undergraduate Degree
19%
Domestic Contracting Projects
27%
Secondary School
11%
Support Functions
66
Occupational Safety, Environmental and Quality Policy
With its OHSAS 18001 Management System
certification, Tepe İnşaat oversees the
occupational health and safety risk of its
employees and related stakeholders.
Tepe İnşaat ISO 9001 Quality Management
System
Through its quality management system applied
to international and domestic projects, Tepe
İnşaat aims to meet domestic and international
clients’ demands and expectations in an
effective manner, as well as current legal
requirements to the fullest extent, while
improving product efficiency.
Tepe İnşaat has set quantifiable targets
and processes to achieve results that meet
customer requirements. These conditions
are in line with the Company’s Quality Policy
and were determined for all operations within
each process, the input for the process,
suppliers and necessary results as well as
domestic/international clients and defined the
relationship between the processes. To achieve
efficiency in all processes, the methods,
directives and regulations have been defined
and the job descriptions of the process owners
and employees have been made as well as the
area of their authority and capabilities.
Regarding management system practices at
construction sites, Project Management plans
have been made for each site and work has
been undertaken to maintain responsibility
sharing and communication.
In line with its continuous improvement
principle, Tepe İnşaat carries out preplanned
internal audits by trained internal auditors
twice a year along with the achievement
rate for performance goals, the outcome
of corrective and preventive operations,
customer feedback, efficiency of training and
similar processes and the results of other
analyses and measurements to be reviewed
by the senior management. Depending on the
capacity, suitability and efficiency of the system
assessments, additional resources are made
available, precautions are taken or processes
are changed.
Tepe İnşaat’s OHSAS 18001 Occupational
Health and Safety Management System
With its OHSAS 18001 Management System
certification, Tepe İnşaat effectively controls
the occupational health and safety risk of its
employees and stakeholders in its influence
area and carries out updates in line with
current needs. During the integration of the
Occupational Health and Safety Management
System into the corporate structure of the
Company, the PDCA Cycle (Plan-Do-CheckAct) developed in part by Edward Deming has
been utilized.
During the System’s planning stage, hazards
related to the Company activities are first
identified and an effective risk assessment is
performed. During the assessment process,
preparations are made to prevent possible
hazards with a proactive approach using
quantifiable and concrete approaches as well
as the previous experiences and foresight
gained within the Company. Following the
risk assessments, occupational health and
safety goals for various processes are set in
accordance with the current technological
Sustainability
67
facilities and operating conditions stipulated by
the law as well as by the Company itself. Action
plans formed in relation to these goals are then
implemented and continuously updated in light
of recent developments.
deviations. All accidents, incidents and
near-miss events are analyzed multilaterally
and permanent improvements are made in
the system through statistical analyses and
corrective and preventive actions.
Employees, including subcontractors, at the
construction sites and at units with similar
operational activities, receive constant training
about compliance with methods defined in
relation to occupational health and safety,
sharing responsibility, potential risk, and
emergencies and using protective equipment.
Construction Site Occupational Health and
Safety supervisors constantly monitor field
work and periodical controls, measurements,
analyses and maintenance work regarding each
process is undertaken by process owners in
accordance with the plans. System overhaul
needs are identified and implemented through
preplanned internal audits and detailed review
meetings.
The effectiveness of the implementation
of documented methods is also evaluated
throughout the process.
The criteria for operational control is
established by taking activities, equipment,
site-based directives, process-based
regulations, practical checklists and monitoring
and measurement plans into consideration;
maximum effort is invested in order to prevent
Renowned for caring for its employees and
public shareholders, Tepe İnşaat aims to
excel with its occupational health and safety
performance as well as financial success in the
coming years.
68
Bİlkent University
Bilkent University provides its students with
an international vision through its exchange
program agreements with premium global
universities.
Known by international academic circles
as a highly reputable institution, Bilkent
University was founded on October 20, 1984
by the joint resolution of the İhsan Doğramacı
Education Foundation, İhsan Doğramacı Health
Foundation and İhsan Doğramacı Science
and Research Foundation. Being the first and
only foundation university in Turkey, Bilkent
has become an exemplar for its high quality
education and superlative scientific research,
as well as its cultural and artistic activities.
The name of the university is an abbreviation
of “Bilim Kenti”, which in Turkish means “the
city of science”, and the University consistently
advances the quality of its scientific endeavor,
as befits its name.
Preparations for the establishment of Bilkent
University began as early as 1967, with the
purchase of a large tract of land to the west
of Ankara; it continued with the construction
of the buildings in the late 1970s and early
1980s. The first buildings on the campus now
house the Faculty of Engineering and the
Library. These were followed by the cafeterias,
dormitories, School of English Language and the
student union. As the University expanded and
the number of students increased, additional
buildings were constructed for the Faculty of
Humanities and Letters, Faculty of Economics,
Administrative and Social Sciences, Faculty
of Business Administration, Faculty of Art,
Design and Architecture, Faculty of Science,
Faculty of Music and Performing Arts, Faculty
of Law, and Faculty of Education, the concert
hall, fitness centers, preschool, elementary
and high schools, new cafeterias, two health
centers, the East Campus vocational school
buildings, classrooms and a building housing the
computer center.
The first students were admitted in 1986 with
386 enrolled students. Growing each and every
year with investments from the foundations,
today, Bilkent University is one of the perfect
educational centers in the country and the
wider region with nine faculties, two applied
schools and three vocational schools that offer
39 programs in total. Currently, 13,000 students
receive a world class education from a faculty of
academics from 40 different countries.
In line with its founding principle, Bilkent
University provides its students an international
vision and raises the quality of education to
the level of the world’s most successful and
distinguished universities via its exchange
program agreements with other global
universities such as the University of California,
Georgia Institute of Technology, University of
Maryland, University of Washington and the
University of Michigan in the US; University of
Essex in the UK; Pforzheim University and the
University of Konstanz in Germany; University
of Rome, La Sapienza and Bocconi University
in Italy; Ecole Supérieure de Commerce de
Clermont and Ecole Supérieure de Commerce
de Lille in France; McGill University and
Université de Montréal in Canada; Tilburg
University and University of Amsterdam in the
Netherlands; University of Southern Denmark
in Denmark; Tel Aviv University in Israel and the
University of Waikato in New Zealand.
Sustainability
69
Graduates of Bilkent University successfully
represent their university both in the business
arena, and in other established educational
institutions throughout the world, on the basis
of the qualified competence and contemporary
vision they gain during the course of their
education.
Established in 1988 to guide students in career
planning and execution of these plans after
their graduation, the Career Development
and Placement Center maintains strong ties
with the students, graduates and the business
world. The Career Development and Placement
Center at Bilkent is the first center to be opened
in a university in Turkey for such a purpose.
As the leading university in Turkey in terms
of the number of international academic
publications per faculty member almost every
year since its foundation, Bilkent University
maintains its pioneering role in higher
education.
Bilkent University in Figures
• Founded in 1984 as Turkey’s first foundation
university, Bilkent commenced education in
1986.
• The campus sits on approximately 5,000
acres of land, of which 3,000 acres are
afforested.
• By the end of 2012, approximately one-third
of the 13,000 students who are enrolled to
Bilkent are on a scholarship.
• Bilkent offers 39 associate and undergraduate
programs and 47 postgraduate programs.
• Approximately 2,000 different courses are
offered every year within nine faculties, two
applied schools and three vocational schools.
• Bilkent has an academic staff of nearly
1,000 scholars; 33% come from 40 different
countries
• The faculty members were supported with a
budget of nearly TL 250,000,000 between
2005 and 2010 via 172 TÜBİTAK projects, 62
European Union projects and 74 private and
public sector company projects.
70
Bİlkent University
One-third of the students enrolled at
Bilkent are on a scholarship.
• Computer labs have more than 2,000
computers available 24 hours a day, 365 days
a year.
• The student exchange programs are
organized with more than 250 universities
worldwide.
• Visited by 60,000 researchers and students
every year, the University Library is open 362
days a year and has an extensive collection
of 420,000 books and subscriptions to
more than 90,000 periodical publications,
electronic journals and interactive databases.
• Approximately 500 established institutions
visit Bilkent University each year to promote
their organizations and reach out to potential
employees.
• There are approximately 80 student clubs.
• With the projects they develop since 1999,
Bilkent students have been supporting
elementary schools, senior citizens and
others in need throughout Turkey. Students
have been involved in voluntary social
responsibility projects since 1999.
• Run by students, Radio Bilkent broadcasts at
96.6 MHz on the FM band.
• Dormitories house 4,000 students.
• The Health Center serves students 24/7.
• The Bilkent Symphony Orchestra performs
more than 70 concerts every year at the
Bilkent Concert Hall which seats 730 people.
The Bilkent Symphony Orchestra consists
of nearly 100 musicians from 12 different
countries
• Established in 2002, the Bilkent Cyberpark is
Turkey’s fastest growing technology park. With
its 2,700 employees, it serves more than 180
companies in a total indoor area of 86,500 m2.
• According to the annual survey conducted
jointly by Quacquarelli Symonds and Times
Higher Education and published by the U.S.
News & World Report magazine, Bilkent
University is the only university in Turkey that
ranks in the top 400 in the world. In 2009,
Bilkent ranked 360th in the overall rankings
and 129th for engineering and information
technology.
• According to 2012 data from the Times Higher
Education and Thomson Reuters, Bilkent
University ranks 32nd among the best global
universities founded within the past 50 years.
The rankings are based on such criteria like
the quality of education in the universities,
diversity of international students and faculty
members, contributions to the industry,
scientific research and citations made to
their academic publications.
Sustainability
71
Contact Information
Tepe İnşaat Sanayi Anonim Şirketi Head Office
Beytepe Köyü Yolu No: 5, Bilkent, Ankara, Turkey
Phone: +90 (312) 266 58 00 (13 Lines)
Fax: +90 (312) 266 78 38-39
E-mail: info@tepeinsaat.com.tr
Business Development: ig@tepeinsaat.com.tr
Human Resources: ik@tepeinsaat.com.tr
Istanbul Office
Başıbüyük Mahallesi Emek Cad. No: 281/B Narcity Konutları, Maltepe, Istanbul, Turkey
Phone: +90 (216) 675 08 00 – 01
Fax: +90 (216) 675 08 02
E-mail: istanbul@tepeinsaat.com.tr
Iraq Country Office-Erbil
Gulan Street English Villages, No: 250, Erbil, Iraq
GPS: N 36° 11’ 37” E 43° 58’ 16”
GSM: +964 750 396 34 34
Iraq-Sulaymaniyah Office
Sulaymaniyah New University Campus Qilyasan, Sulaymaniyah, Iraq
GSM: +(964) 770 364 34 66, +(964) 750 115 14 62
Russia Country Representative Office
119435, Bolshoy Savvinskiy Per., 9, Building 2, Moscow, Russia
Phone: +7 (495) 221 10 49
Fax: +7 (495) 221 10 44
E-mail: info@tepeconstruction.ru
Web: www.tepeconstruction.ru
Azerbaijan
Hakverdiyev Küçesi Ev No: 21, Baku, Azerbaijan
Phone: + (994) 12498 14 95
Fax: + (994) 12498 92 57
Albania
Gjergji Business Center Floor 5 No: 1-2, Tirana, Albania
Phone: + (355) 42251187
Fax: + (355) 42258360
Turkmenistan Office
Tepe Türkmen İnşaat ve Tic. A.Ş. Yimpaş Business Center 54, Turkmenbashi Avenue,
Office Phone: 701–B Ashgabat/Turkmenistan
Phone: +993 (12)450 291, +993 (12)450 292
Fax: +993 (12)450 293
E-mail: info@tepeturkmen.com
Web: www.tepeturkmen.com
Bilkent Campus-Ankara
www.tepeinsaat.com.tr

annual report 2012

Transcription

Similar documents

StructuredFinance

the past, the present and forever…

2011 - Tepe İnşaat

Brochure: Ssangyong Stavic (July 2013)

Comprehensive Prospectus

7851 Horan Wall Perspex Posters3.indd

Enfidha-Hammamet Airport/ NBE

AIRMAN`S INFORMATiON MANUAL

Turkey Situation Report: Multiple explosions at Istanbul Atatürk Airport

Road Closure - Oregon International Air Show