2011 - Tepe İnşaat

Transcription

2011 - Tepe İnşaat

ANNUAL REPORT 2011
CONTENTS
INTRODUCTION
2 Major Developments in 2011
6 Tepe İnşaat at a Glance
6 Shareholding Structure
8 Vision, Mission and Corporate Values
10 Key Financial Indicators
14 Subsidiaries and Affiliates
16 Bilkent Holding
20Milestones
MANAGEMENT
24 Message from the Management
26 Board of Directors and Board of Auditors
26 Senior Management
28
32
42
52
56
62
66
68
OPERATIONS IN 2011
Investment Projects
Contracting Projects
TAV Havalimanları (TAV Airports)
TAV İnşaat (TAV Construction)
İDO İstanbul Deniz Otobüsleri (İDO İstanbul Sea Buses)
Human Resources Policy
Occupational Safety, Environment and Quality Policy
Bilkent University
FINANCIAL INFORMATION
71 Consolidated Financial Statements
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Following a successful year
With new investments, exciting developments and
awards, 2011 was a successful year for Tepe İnşaat.
The tender won for İDO İstanbul Sea Buses by
the Tepe-Akfen-Souter-Sera (TASS) consortium,
opening of Tepe Prime, the most prestigious office
project in Ankara and the tender won for the first
phase of the Ankara-Bursa fast train project, once
again demonstrated Tepe İnşaat’s determination to
achieve qualitative investments that create value.
Increasing its reputation and credibility in the
international arena every year, Tepe İnşaat
successfully earned 166th place on the ENR 225
Top List 2011, which includes world’s largest
international construction and contracting
companies.
Setting an example in the industry with modern,
humane and environmentally friendly projects,
Tepe İnşaat continues to grow and enhance the
value it creates without compromising its principle
of excellent service.
TEPE İNŞAAT
ANNUAL REPORT 2011
MAJOR DEVELOPMENTS
IN 2011
A significant step, expanding Tepe İnşaat’s
operation field
Tepe İnşaat took over İstanbul Deniz Otobüsleri
Sanayi ve Ticaret A.Ş. (İDO) which was
established in 1987 to help reduce rush-hour
traffic in Istanbul and which is now one of the
largest maritime transport fleets in the world.
It was acquired for US$ 861 million by the TepeAkfen-Souter-Sera (TASS) consortium. With
its strong partnership structure, Akfen Holding
(30%), Tepe İnşaat (30%), Souter Investments
(30%) and Sera Gayrimenkul Yatırım (10%)
plus new corporate management, the Company
has made important breakthroughs toward
expanding its transportation network and
corporate capacity.
Tepe İnşaat received many national
and international awards in 2011
and gained significant financial and
operational success.
Tepe İnşaat has crowned its success with awards
Tepe İnşaat was listed in 166th place on the 2011
ENR Top 225 List made up of the world’s largest
international construction and contracting
companies.
Tepe İnşaat was ranked 309th in 2010 and 262th
in 2011 on the Fortune 500 Turkey list, prepared
annually by Fortune Turkey magazine and
includes the top 500 companies in Turkey.
Tepe İnşaat was awarded the European Business
Awards in Turkey category, one of the most
prestigious awards in the business world.
Following the sale of 18% of the shares of
Tepe İnşaat A.Ş. in TAV Havalimanları A.Ş. to
Aeroports de Paris Management for US$ 414
million and the 23,275% of its shares in TAV
Tepe-Akfen Yatırım İnşaat ve İşletme A.Ş.
for US$ 23.275.000, JCR Eurasia Rating has
assigned an investment grade credit rating
of “A(Trk)” on the long term national scale
2-3
INTRODUCTION
to Bilkent Holding A.Ş. along with a “stable”
outlook. In the statement made by JCR Euroasia
Rating, it was stated that the sale would have a
positive effect on the market efficiency and the
performance of the companies within Bilkent
Holding.
New host of capital city Ankara’s
business and social life: Tepe Prime
Business-Residence-Avenue
With its contemporary architecture, functional
and environmentally friendly approach, an
open air concept and smart building features,
Tepe Prime Business- Residence-Avenue, the
most prestigious work and social life project
in Ankara, was opened on October 2, 2011. It
includes 218 office spaces, 100 business studio
flats that can also be used as residences and 37
cafés, restaurants and entertainment venues for
different tastes as well as various stores. Tepe
Prime Business-Residence-Avenue includes
a 10-story residence building and two 18- and
19-story business blocks, independent from
each other.
Tepe Prime Business
Tepe Prime Business matches your
expectations, where you would have the
business environment you are looking for and
that would reflect your prestige in the business
world. With its location, easy access and unique
landscape planning, Tepe Prime Business has
raised the standards in Ankara.
Tepe Prime Residence
A reflection of stylish modern living, Tepe
Prime Residence with its studio flats that range
between 78 and 102 m2 gross, meets different
demands and offer innovations and comfort that
come with today’s lifestyle.
Tepe Prime Avenue
Setting out to contribute to Ankara’s business
and social life and to provide the city with
a new meeting place, Tepe Prime Avenue is
preferred by some of Turkey’s most popular
cafés, restaurants and entertainment brand
names. With unique architecture with an
TEPE İNŞAAT
ANNUAL REPORT 2011
MAJOR DEVELOPMENTS
IN 2011
open-air model, Tepe Prime Avenue is a
first in Ankara and includes Hayâl Kahvesi,
İstanbul’s renowned entertainment venue,
2’ler Et Lokantası, the Burger House, Eat’n Fit
Barnies Coffee and Gratis. The project also
attracts attention with a variety of popular
restaurants such as the New Castle, Ege Balık,
Özler Döner, Minkaa, Neli Pastanesi and Tunalı
Vitamin Park that appeal to different tastes.
Housing the Mercedes Showroom, the first
concept showroom in Turkey, there is also a
branch of D&R that combines entertainment
and culture products as well as a bookshop,
pharmacy, tobacco shop, florist, dry cleaners,
hair styling salon and a Migros Supermarket.
Tepe Prime Avenue has outdoor dining and
entertainment and venues for activities such
as concerts, theatre and festivals within its
courtyard that includes a pool, with illuminated
water shows and a large stage. Designed with an
‘agora’ concept, Tepe Prime Avenue has distinct
architectural features with special landscaping
arrangements that enable access to venues from
different routes.
With its contemporary architecture,
functional, environmentally friendly
approach, open air concept and smart
building features, Tepe Prime BusinessResidence-Avenue, a prestigious
business and social life project in
Ankara, was opened on October 2, 2011.
Tepe’s Autograph in the First Stage of the
Ankara-Bursa Fast Train Project
The tender for the infrastructure of the
75-kilometer section between Bursa and
Yenişehir, the first stage of the Ankara-Bursa
fast train project, was won by the YSE Yapı-Tepe
İnşaat joint venture for TRY 393 million and 170
thousand. Planned to be completed within three
years, the project will shorten the trip between
Ankara and Bursa to two and a half hours.
4-5
INTRODUCTION
TEPE İNŞAAT
ANNUAL REPORT 2011
TEPE İNŞAAT
AT A GLANCE
Tepe İnşaat has been operating in the
construction industry for the past 42 years. This
sector steers the country’s economy making
it among Turkey’s most important industries
and one that creates value for Bilkent Holding
A.Ş., its principal shareholder and for the
projects its produces. Understanding that the
concept of “peak” not as a target but as a point
to reach in terms of advancement, success and
service, the Company has become one of the
important players within the industry and is
internationally renowned for its domestic and
international projects produced while taking
the constantly changing needs of the modern
Getting its strength from its qualified
human resources and professional
corporate management, Tepe İnşaat
aims to continue shining with projects
that make a difference.
world into consideration. The main principle
of Prof. Dr. İhsan Doğramacı’s philosophy
“further, toward the best” has provided the
Company with extensive experience in project
development and the construction of hospitals,
airports, terminals, pipelines, power plants,
business and shopping centers.
Getting its strength from its qualified
human resources and professional corporate
management, Tepe İnşaat aims to continue
shining with projects that make a difference.
As of December 31, 2011 Tepe İnşaat’s registered
capital was TRY 780,000,000 million.
SHAREHOLDING STRUCTURE (%)
Company
Share
Name
Shareholders
Class
Bilkent Holding A.Ş.
A
B
Tepe
İnşaat
Tepe Emlak Yat. İnş. A.Ş.
B
Sanayi
B
Anonim Tepe Savunma ve Güv. Sis. A.Ş.
Şirketi
Tepe Home Mob. Dek. Ürün. San. ve Tic. A.Ş.
B
Meteksan Matbaacılık A.Ş.
B
85.86
TRY
Share of Ratio of
Number
Capital Shares %
of Shares
1
0 780,000,000
669,741,166
85.86 780,000,000
104,000,091
13.33 780,000,000
5,672,386
0.73 780,000,000
562,352
0.07 780,000,000
24,004
0 780,000,000
Tepe Emlak Yat. İnş. A.Ş.
13.33
other
0.8
6-7
INTRODUCTION
TEPE İNŞAAT
ANNUAL REPORT 2011
VISION, MISSION AND
CORPORATE VALUES
With 42 years of experience,
Tepe İnşaat steadily continues
its corporate development
without compromising its vision,
mission and corporate values.
VISION
MISSION
To produce at world standards without
compromising on quality at any stage or
any detail of the project.
To create the necessary resources for Bilkent
University to continue developing and
growing.
Cognizant that its employees are its most
valuable resources and by relying on their
strength, support and knowledge, the
Company conscientiously adapts to all
modern requirements within their respective
fields of expertise.
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 further advance the Company’s position
following a sustainable growth perspective.
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.
8-9
INTRODUCTION
CORPORATE VALUES
Tepe İnşaat,
Is focused on customer satisfaction
Constantly observing changing and evolving customer
expectations to achieve customer satisfaction.
Is committed to maintaining ethical values and law.
Is completely committed to ethical values and laws, strives
to provide the best quality in the field in terms of service
and products and is keen to maintain competitiveness,
productivity and profitability.
Takes responsibility
As a national responsibility, expanding its experience,
know-how and vision beyond the region is a principal aim.
TEPE İNŞAAT
ANNUAL REPORT 2011
KEY FINANCIAL
INDICATORS
Thanks to its sustainable financial
structure, Tepe İnşaat undertakes
profitable projects and carries its
corporate structure into the future.
Balance Sheet Figures (TRY thousand) *
2010
2011
A- Current Assets
591,751
531,497
B- Fixed Assets
995,367
1,179,908
1,587,118
1,711,405
A- Short-term Foreign Liabilities
230,325
261,847
B- Long-term Foreign Liabilities
577,543
619,022
C- Equity
779,250
830,536
1,587,118
1,711,405
2010
2011
270,752
347,806
43,149
58,305
7,365
12,135
Total Assets
Total Liabilities
Net Sales
Operating Profits
Extraordinary Revenues and Incomes
* Prepared according to the stand-alone financial statements.
10 - 11
INTRODUCTION
TOTAL ASSETS (TRY THOUSAND)
2011
2010
1,711,405
1,587,118
SHAREHOLDERS’ EQUITY (TRY THOUSAND)
2011
2010
830,536
779,250
NET SALES (TRY THOUSAND)
2011
2010
347,806
270,752
OPERATING PROFIT (TRY THOUSAND)
2011
2010
58,305
43,149
TEPE İNŞAAT
ANNUAL REPORT 2011
KEY FINANCIAL
INDICATORS
Tepe İnşaat increased its
operational profit from TRY
43,149 million to TRY 58,305
million in 2011.
Liquidity Ratios *
Current Ratio
Acid-Test Ratio
Cash Ratio
2010
2.57
2.47
0.42
2011
2.30
1.92
0.34
3.66
99.64
0.46
361,425,886.95
0.75
1.64
0.17
0.35
4.21
86.68
0.65
269,650,074.19
1.29
1.98
0.20
0.42
Financial Leverage Ratios *
Financial Leverage Ratio
Financing Ratio
Ratio of Equity to Total Assets
Ratio of Short-term Debts to Total Liabilities
Ratio of Short-term Debts to Total Debts
Ratio of Long-term Debts to Total Liabilities
0.51
0.96
0.49
0.15
0.29
0.36
0.51
0.94
0.49
0.15
0.30
0.36
Ratio Analysis in Accordance with the Public Procurement Law *
Current Ratio
Ratio of Equity to Total Assets
Ratio of Short-term Financial Liabilities to Total Equity
2.30
0.65
0.01
3.00
0.59
0.00
Operational Ratios *
Accounts Receivable Turnover Ratio
Accounts Receivable Collection Period
Current Asset Turnover Ratio
Net Working Capital (TRY)
Net Working Capital Turnover Ratio
Tangible Asset Turnover Ratio
Total Asset Turnover Ratio
Equity Turnover Ratio
* Prepared according to the stand-alone financial statements.
12 - 13
INTRODUCTION
Current Ratıo
2011
Cash Ratıo
2.30
2010
2011
2.57
Acıd-Test Ratıo
2011
2010
2010
0.34
0.42
Fınancıng Ratıo
1.92
2011
2.47
2010
0.94
0.96
TEPE İNŞAAT
ANNUAL REPORT 2011
SUBSIDIARIES AND
AFFILIATES
Companies operating within
Tepe İnşaat are leaders in their
respective fields.
Total Capital
(TRY)
Share Capital
(TRY)
Ankara Teknoloji A.Ş.
9,600,000
1,106,032
Antepe Sağlık Hiz. A.Ş.
3,000,000
2,975,000
Artı Döviz Ticaret A.Ş
1,500,000
735,000
28,750,000
14,375,000
Batı Karadeniz A.Ş.
1,400,000
294,000
Bilan A.Ş.
5,500,000
2,694,723
Bilbak A.Ş.
50,000
70
Bildes A.Ş.
50,000
70
50
1
Bilenerji A.Ş.
30,550,000
4,530,044
Bilintur A.Ş.
57,500,000
21,500,000
150,000
200
5,209,056.81
1,562,717.04
500,000
25
22,000,000
2,968,610
5,000,000
600,000
500,000
25
91,000
46,000
750,867,410
225,260,223
Company Name
Atı Servicess Sa (Swiss Francs)
Bilen Bilkent Enerji Yat. A.Ş.
Bilsigorta A.Ş.
C. B. Spolka Zograniczona (US$)
Dafne Ege Döviz Ticareti A.Ş
Dilek İnşaat ve Ticaret A.Ş.
Eccı-C İş Ortaklığı (US$)
Esenboğa Ankara Döviz Ticareti A.Ş.
Hyper Foreign Trade (US$)
İdo Deniz Otobüsleri Sanayi ve Ticaret A.Ş.
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INTRODUCTION
Total Capital
(TRY)
Share Capital
(TRY)
Knauf A.Ş.
147,043,000
4,114
Meteksan Matbaacılık A.Ş.
90,000,000
5,864,454
Meteksan Savunma A.Ş.
10,000,000
607,310
5,500,000
55,000
Optisis İletişim ve Bilgi Tekn. A.Ş.
300,000
3,000
Park Villa İnşaat ve Turizm A.Ş.
500,000
250,000
150
13
2,000,000
10
Sports Int. A.Ş.
26,000,000
21,888,158
TAV Esenboğa Yatırım Yapım ve İşletme A.Ş.
241,650,000
10
TAV Havalimanları Holding A.Ş
363,281,250
29,273,852
100,500,000
24,346,000
20,000,000
13,200,000
221,000,000
147,047,069
250,000
127,500
50,000
24,497
71,000,000
56,697,334
145,000
144,565
50,000
25,000
Tepe Prefabrik A.Ş.
12,000,000
10,213,329
Tepe Savunma A.Ş.
30,000,000
18,779,952
Tepe Servis Yönetim A.Ş.
2,000,000
1,039,919
Tepe Tesan Adi Ortaklığı
100,000
60,000
Tepe Türkmen A.Ş.
100,000
65,000
50,000
1
Yenikentler Yatırım A.Ş.
170,000
5,000
YSE Tepe Adi Ortaklığı
100,000
40,000
Company Name
Meteksan Sualtı Akustik Sis. Tek. A.Ş.
Pft Sıva A.Ş.
Riva A.Ş.
TAV Yatırım Holding A.Ş
Tepe Betopan A.Ş.
Tepe Emlak A.Ş.
Tepe Grubu United Kingdom (GB Pounds)
Tepe Güvenlik A.Ş.
Tepe Home Mobilya A.Ş.
Tepe İnşaat ve Ticaret Ltd (Cyprus)
Tepe Metag Adi Ortaklığı
Turkofon A.Ş.
TEPE İNŞAAT
ANNUAL REPORT 2011
Bilkent
Holding
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. The
companies within Bilkent Holding are leaders in
their respective industries in terms of turnover
and market share.
Shaping its operations in terms of fiveyear strategic plans, Bilkent Holding
reached its financial and operational
goals in 2011 in accordance with its
long-term goals and policies.
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.
16 - 17
INTRODUCTION
TEPE İNŞAAT
ANNUAL REPORT 2011
Bilkent
Holding
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.
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
Tepe-Akfen and is the most successful example
of this model; it provides substantial addedvalue 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.
Continuing steadily to expand its
field of operations and geographical
reach, Bilkent Holding ranks among 50
foremost corporate groups in Turkey.
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 - 19
INTRODUCTION
Bilkent Holding Subsidiaries and Affiliates
Subsidiaries and Affiliates
Name of the Company
Total
Capital
(TRY)
Share Participation
Capital
Ratio
(TRY)
(%)
Ankara Teknoloji A.Ş.
9,600,000
2
0.00
Bilan Bilkent Ankara Tepe Otel İşletmeciliği A.Ş.
5,500,000
415,555
7.56
Bilan Bilkent Ank. Tepe Otel İşl. (A Grubu)
5,500,000
1
0.00
Bilbak A.Ş.
50,000
25,520
51.04
Bildes A.Ş.
50,000
25,520
51.04
1,150,000
1,149,405
99.95
Bilenerji A.Ş.
30,550,000
639,772
2.09
Bilintur A.Ş.
57,500,000
7,876,969
13.70
1,000,000
999,558
99.96
300,000
1
0.00
Dilek İnşaat A.Ş.
22,000,000 19,002,736
86.38
Meteksan Matbaacılık ve Tek. San. Tic. A.Ş.
90,000,000
1
0.00
Meteksan Matbaacılık ve Tek. San. Tic. A.Ş.
90,000,000
83,973,811
93.30
Meteksan Su Altı Teknolojileri A.Ş.
5,500,000
1
0.00
Meteksan Su Altı Teknolojileri A.Ş.
5,500,000
54,999
1.00
300,000
3,000
1.00
Sports International Bilkent Fitness ve Spor Merkezleri A.Ş.
26,000,000
690
0.00
Tepe Betopan A.Ş.
20,000,000
502,000
2.51
221,000,000
63,148,176
28.57
50,000
1
0.00
71,000,000
1
0.00
71,000,000 14,639,587
20.62
Bilen A.Ş.
Bilsigorta A.Ş.
Delta Yük. Tek. Araş. Gel. Bil. A.Ş.
Optisis İletişim ve Bilgi Teknolojileri A.Ş.
Tepe Emlak A.Ş.
Tepe Güvenlik A.Ş.
Tepe İnşaat A.Ş.
780,000,000
1
0.00
Tepe İnşaat A.Ş.
780,000,000 669,753,741
85.87
Tepe Prefabrik İnş. San. Tic. A.Ş.
12,000,000
2
0.00
Tepe Savunma A.Ş.
30,000,000
3
0.00
6,000,000
1
0.00
50,000
25,587
51.17
Tepe Servis ve Yönetim A.Ş.
Turkofon A.Ş.
TEPE İNŞAAT
ANNUAL REPORT 2011
MILESTONES
Since its foundation, Tepe İnşaat
has focused on developing projects
regarded as milestones in terms of its
corporate development.
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
İstanbul 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
t entered its final phase in 2010 and yielded a
total additional covered space of 18,770 m2.
20 - 21
INTRODUCTION
2000s
2000 Turkish Armed Forces
Rehabilitation Center
Built on a total area of 102,500 m2, with a 400bed 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.
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-ofthe-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.
2001-Kemer Rose Residence
Built on 35,000 m2 with rose gardens of
unrivalled beauty in Kemerburgaz, the Kemer
Rose Residence consists of 70 blocks. Offering
a peaceful lifestyle in perfect harmony with
nature, Kemer Rose Residence also provides a
wide range of amenities at its sports facilities.
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
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.
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.
TEPE İNŞAAT
ANNUAL REPORT 2011
MILESTONES
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.
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 part of the consortium
that took over İDO through
privatization, Tepe İnşaat took a
significant step toward expanding
its field of operations in 2011.
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 stateof-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
22 - 23
INTRODUCTION
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 TRY
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 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
İstanbul 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 TepeAkfen-Souter-Sera (TASS) consortium. This
company, of which Tepe İnşaat has a 30% share,
has undertaken important breakthroughs
toward expanding its transportation network
and infrastructure.
TEPE İNŞAAT
ANNUAL REPORT 2011
MESSAGE FROM THE
MANAGEMENT
In 2011, TEPE İnşaat was ranked 166th on
the ENR Top 225 Contractor List that ranks
the world’s largest construction-contracting
companies. When domestic projects such as
hospitals, residential projects, airports, terminal
buildings, pipelines, power plants, business
and shopping centers and industrial plants
are combined with international projects, we
see that TEPE İnşaat has increased its 2011
consolidated turnover to US$ 1,264 million.
As one of the leading companies in the
Turkish Contracting Sector, Tepe İnşaat
successfully outlined and implemented
business development objectives and corporate
strategies in accordance with the goals it set
in 2011 for investment projects. In the global
construction sector, these projects will reach
US$ 12.7 trillion within the next ten years. As
a result, business development activities have
been carried out in Iraq, Russia, Azerbaijan
and Turkmenistan to achieve localization in
the target countries and include construction
of the Düzcam and Otocam industrial plants in
Russia. Business development activities in Iraq,
Azerbaijan and Turkmenistan are expected to
add new projects to our portfolio in 2012.
Another significant development in terms of
the sustainability for Tepe İnşaat’s financial
and operational structure is the sale of 18%
of the stake in TAV Havalimanı A.Ş. for US$
414 million and 23.275% of TAV Tepe Akfen
Yatırım İnşaat ve İşletme A.Ş. for US$ 23.2
million to Aeroports de Paris Management,
With Düzcam and Otocam projects,
constructions of which are ongoing
in the Republic of Tatarstan, Tepe
İnşaat has made significant strides
toward expanding in Russian market in
industrial facilities field.
one of the world leading airport operators.
Negotiations for these deals began in 2011 and
concluded in 2012. This sales transaction took
place during a period of uncertainty marked by
fluctuations emanating from the financial crisis
in international markets, offering proof once
again of the strong brand name value of our
subsidiary TAV Havalimanı A.Ş. JCR-Eurasia
Rating confirmed Bilkent Holding’s long-term
domestic note as “A-(Trk) and its outlook as
stable based on positive effects that this sales
transaction had on the financial performance of
all Bilkent Holding companies, especially Tepe
İnşaat.
Tepe İnşaat has made important contributions
to the development of the Turkish economy as
well as the sectors in which it operates with
the prestigious projects it has executed since
its establishment. In keeping with the mission
and vision outlined by Bilkent Holding, the
Company has filled 2011 with significant
achievements as well. Our Company directs
its operations according to the principle
of continuous corporate development and
continues to support the steady growth of the
Turkish economy through the construction
sector, which forms the core of its operations
today and through its subsidiaries İDO and
TAV Havalimanları Holding A.Ş.
Tepe İnşaat has an extensive portfolio in the
construction sector, its primary sphere of
operations. In 2011, it continued to carry out a
series of important projects. The grand opening
24 - 25
MANAGEMENT
for Tepe Prime, a project designed to create a
new focal point for the business community in
the capital city of Ankara, took place on June 2,
201l; six months ahead of schedule. The project
is made up of independent 10-story residences
and 18 and 19-story business blocks. In addition
to the modern design and smart building
features, it is expected that the eco-friendly
characteristics will significantly improve the
residents’ quality of life. The Taurus shopping
mall project, currently under construction, is
another important project undertaken by Tepe
İnşaat in the capital city of Ankara.
Narkule, a boutique project design in Istanbul,
continues to enhance Tepe İnşaat’s stature in
terms of its sales profile. Design work on the
new residential Narlife project, adjacent to
Narcity, is moving full-steam ahead. The first
two phases of the Sulaymaniyah University
project have been delivered and phase three
is nearing completion. This project covers two
million m2 in the city of Sulaymaniyah, Iraq;
it accounts for a significant portion of the
Company’s foreign operations in recent years.
Ali Haydar KURTDARCAN
Chairman
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,
being a global leader in different areas of
business and maintaining a presence in
different locations.
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,
Abdullah Bahadır GÜNGENCİ
Executive Member
Atila Kemal OĞUZ
General Manager
TEPE İNŞAAT
ANNUAL REPORT 2011
BOARD OF
DIRECTORS
Ali Haydar Kurtdarcan
Board of Directors
Chairman
Abdullah Bahadır Güngenci
Board of Directors
Executive Member
Abdurrahman Kürşat Aydoğan
Board of Directors
Member
Önder Sezgi
Board of Directors
Member
Board of Auditors
Alaaddin Tabur
Gürkan Özaslan
SENIOR
MANAGEMENT
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 TAV Yatırım Holding
A.Ş., TAV Tepe Akfen Yatırım İnş. ve İşl. A.Ş.,
TAV Havacılık A.Ş., TAV Istanbul Terminal
İşletmeciliği A.Ş., TAV Esenboğa Yatırım
Yapım ve İşletme A.Ş., Dilek İnşaat ve Tic. A.Ş.,
and Antepe Sağlık ve Turizm Hizmetleri Tic.
Danışmanlık A.Ş.
26 - 27
MANAGEMENT
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 2005,
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.
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 Tekgüç
İnşaat and joined Tepe İnşaat in 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 Tic. 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.
TEPE İNŞAAT
ANNUAL REPORT 2011
INVESTMENT
PROJECTS
NARCITY HOUSING PROJECT
Commencement Date
January 2006
Total Construction Area
285,000 m2
Delivery Date
Plots C, D and E opened for residential
occupancy in 2007; plots F and G in
mid-2008; Plot A at the end of 2010.
Narcity is a contemporary residential project
with 1,306 apartments; it was constructed on
approximately 135,000 m2 of land in Maltepe,
Istanbul. Built in accordance with the current
earthquake regulations, Narcity provides a
comfortable and secure place to live.
With a variety of social facilities to meet all of the
needs of a contemporary family, Narcity takes its
name from the Turkish name for pomegranate
trees (nar) used in its landscaping. The project
has one indoor and three outdoor swimming
pools, a fitness room with a sauna, two tennis
courts, jogging/walking paths, a basketball
court, pool and table tennis facilities, a café, a
TV and movie lounge, a tea garden, a meditation
garden, nurseries and playgrounds on the site.
The complex is also equipped with a camera
surveillance security system. Different in size
and location, all apartments have PVC windows,
doors and exterior siding. Special attention was
paid to the insulation of the buildings by using
double glazed windows. Living rooms, kitchens
and bedrooms have parquet laminate flooring
whereas the bathroom floors are tiled with first
quality domestic ceramic tiles. The walls are
painted with washable water-based paint applied
on plaster or plasterboard and the ceilings are
painted with water-based paint on satin-finished
plasterboard. Constructed with state-of-the-art
materials and workmanship, Narcity puts on a
new face on the city.
28 - 29
OPERATIONS IN 2011
INVESTMENT
PROJECTS
TEPE PRIME PROJECT
Commencement Date
October 2008
92,800 m2
Delivery Date
October 2011
Land Owner
Turkish Cement Manufacturers’
Association
Built on the land owned by the Turkish Cement
Manufacturers’ Association, located at 9th km of
the Eskişehir Highway, between the Bilkent and
Hacettepe bridges, the project consists of Tepe
Prime Business, Tepe Prime Residence and Tepe
Prime Avenue sections on 92,800 m2.
Designed with contemporary understanding
based on aesthetics and functionality that
reflect its prestige in the business world, Tepe
Prime Business has raised the standards in
Ankara with its location, easy access and unique
landscape planning.
With studio flats between 78 and 102 m2, Tepe
Prime Residence is able to meet different
demands while offering the novelty and comfort
that comes with the modern living.
With courtyards, stage and open-air concept
that brings the favorite brands of Ankara and
Istanbul together, Tepe Prime Avenue is the
public’s first choice when it comes to dining,
new flavors, shopping, music and entertainment.
TEPE İNŞAAT
ANNUAL REPORT 2011
INVESTMENT
PROJECTS
Located adjacent to Narcity and Narkule in Maltepe,
Istanbul, on the last valuable plot remaining in the
district, the project is made up of 609 apartment flats
including studio flats, one to four bedroom flats as
well as duplex apartments in three different blocks
built on 72,000 m2.
NARLIFE HOUSING PROJECT
Approximately 2,000 m2 of indoor social facilities,
an indoor and an outdoor swimming pool, outdoor
sports facilities and walking trails are planned as part
of the project. Kiptaş, Fuaye and Nish Adalar housing
projects are located on land next to the project. There
are also private schools as well as housing projects
currently under construction in the same area.
Commencement Date
June 2012
108,150 m2
Delivery Date
December 2014
Located in the heart of a pine forest with a view of
the Prince’s Islands, the project is situated close to
the main arterial roads and near the campuses of
Yeditepe and Maltepe universities. Conveniently
located only three kilometers from the E5, five
kilometers from the coastal road, six kilometers from
TEM and 20 kilometers from the Sabiha Gökçen
International Airport it is also next to the Süreyya
Paşa Chest Diseases and Thoracic Surgery Teaching
and Research Hospital, the only hospital in its field
in Turkey. The project is designed to appeal segment
B+ clients. Candidate to the LEED® Gold Certification
developed by the US Green Building Council
(USGBC), the project also has segment A-standard
elements.
The project, construction of which will begin at the
end of June 2012 following receipt of the permit, is
planned to be launched in September 2012.
30 - 31
OPERATIONS IN 2011
INVESTMENT
PROJECTS
Narkule
Commencement Date
October 2010
17,500 m2
Delivery Date
December 2011
Built in Maltepe, Istanbul on land neighboring
Narcity, the Narkule project was designed as
a boutique project for residents that desire
to live in a high-rise building with modern
architecture. Utilizing the slogan “Some
Like It High” Narkule is distinguished by its
contemporary, high-quality architecture as well
as its youthful, dynamic, dignified and colorful
style.
All of the 108 residential units in the 27-story
Narkule project have a splendid view of the
forest, sea and the Prince’s Islands.
TEPE İNŞAAT
ANNUAL REPORT 2011
CONTRACTING PROJECTS (DOMESTIC)
CONSTRUCTION OF DEPARTMENT OF HEMATOLOGY,
GAZI UNIVERSITY HOSPITAL
Commencement Date
January 2010
3,200 m2
Delivery Date
2011
Client
Gazi University
As part of the construction of Department
of Hematology at Gazi University Hospital,
this section serves inpatients and outpatients
undergoing treatment for leukemia. Equipped
with the state-of-the-art devices with infection
control, the service has a total of 57 single beds,
of which 18 are located on wards, outfitted with
HEPA filters, four intensive care and 35 normal
units. The project was completed and delivered
in 2011.
MODIFICATION OF THE CLASSROOMS AND
LABORATORIES, GAZI UNIVERSITY HOSPITAL
Commencement Date
December 17, 2010
Delivery Date
2011
Client
Gazi University
Modification of the English Language
Classrooms and Research Laboratories at the
Faculty of Medicine at Gazi University located
on the Emek Campus in Ankara as well as
the SGK Medula System (the comprehensive
medical access system of the Social Security
Institute of Turkey) Units were completed and
the buildings were delivered in 2011.
32 - 33
OPERATIONS IN 2011
BILKENT UNIVERSITY
PROJECTS IN 2011
Commencement Date
January 1, 2011
Delivery Date
December 31, 2011
Construction Site
Bilkent University Campus
Client
Bilkent University
Contracted modifications and renovations of
various buildings at Bilkent University were
completed and delivered during the year.
TEPE İNŞAAT
ANNUAL REPORT 2011
CONSTRUCTION OF TAURUS BALGAT
OFFICE BUILDING
Commencement Date
September 2, 2010
25,000 m2
Delivery Date
2011
Construction Site
Balgat, Ankara
Client
Taurus Balgat Alışveriş
Merkezi Yatırım A.Ş.
Construction of the Office Building (Block A),
part of the Taurus Balgat Mall Project, began
in 2011. The rough construction of 16,600
cubic meter of reinforced concrete on the site,
received with the foundation excavation already
done, was completed and delivered in 2011.
34 - 35
OPERATIONS IN 2011
INDOOR SPORTS HALL AND ANNEXES,
FIRAT UNIVERSITY
Commencement Date
November 24, 2010
15,884 m2
Delivery Date
December 31, 2012
Construction Site
Fırat University Campus, Elazığ
Client
Fırat University
Pursuant to the unit price contract, Tepe İnşaat
will undertake the construction of an indoor,
multipurpose sports hall and an annex for the
Fırat University at its campus in Elazığ. The
Multipurpose Sports Hall is situated on campus,
between the Rector’s Office and the Faculty of
Technical Education. Comprised of two annexes
and a hall with seating capacity for seven to
eight thousand, the Multipurpose Sports Hall is
expected to contribute greatly to socio-cultural
life at Fırat University and in Elazığ. The indoor
sports hall with a 200 meter track will be the
second largest arena in Turkey for the indoor
athletics competitions. It is expected to be
completed by the end of 2012.
CONSTRUCTION OF
TAURUS BALGAT MALL
Commencement Date
May 4, 2011
120,000 m2
Delivery Date
December 15, 2012
Client
Taurus Balgat AVM Yatırım A.Ş.
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
square meter construction area, has a total
construction area of 120,000 m2 of which
41,000 m2 are leasable.
TEPE İNŞAAT
ANNUAL REPORT 2011
MODIFICATION AND LARGE-SCALE REPAIR OF
HACETTEPE UNIVERSITY HOSPITALS
Commencement Date
October 9, 2009
80,000 m2
Delivery Date
August 22, 2012
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.
36 - 37
OPERATIONS IN 2011
CONSTRUCTION OF THE CARREFOUR
MERSİN MALL EXPANSION PROJECT
Commencement Date
February 28, 2011
19,050 m2
Delivery Date
2011
Construction Site
Mersin
Client
Bainbridge Holding
The expansion project for the Mersin
Carrefour-SA Mall, located on 92,600 m2
owned by Bainbridge Holding, was completed
and delivered in 2011. The project included
the construction of five new buildings and the
reconstruction of the installations in one of the
existing buildings. It also included an annex
serving as a shelter, composite mezzanine floor,
pumping room as well as infrastructure and
landscaping work.
TEPE İNŞAAT
ANNUAL REPORT 2011
FIRAT UNIVERSITY TEACHING AND
RESEARCH HOSPITAL
Commencement Date
April 1, 2009
140,000 m2
Delivery Date
December 31, 2014
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 during 2014.
38 - 39
OPERATIONS IN 2011
CONTRACTING PROJECTS (OVERSEAS)
CONSTRUCTION OF İHSAN DOĞRAMACI
ERBIL FOUNDATION SCHOOLS
Contract Date
July 15, 2008
Delivery Date
2011
30,332 m2
Client
İhsan Doğramacı Erbil
Foundation
In Erbil, Northern Iraq, İhsan Doğramacı Erbil
Foundation Schools are built on a total area
of 75,000 m2. The comprehensive educational
complex consists of an elementary school, a
junior and senior high school, a performance
hall with a seating capacity for 700 people,
indoor and outdoor sports fields, a library,
laboratories, art and music classrooms, a
cafeteria and lounge, an administrative building
and housing units. The total indoor area is
30,332 m2.
Construction of the primary school, cafeteria,
auditorium, administrative building,
laboratories and the library as well as two
housing units, were top priority and comprise
the first phase of the project. They were
completed in 2010 and the second phase was
completed and delivered during 2011.
TEPE İNŞAAT
ANNUAL REPORT 2011
EMBASSY BUILDING AND FACILITIES FOR THE US EMBASSY IN
KABUL (TEMPORARY PREFABRICATED BUILDING)
Commencement Date
September 30, 2009
Delivery Date
2011
22,702 m2
Client
Bureau of Overseas Buildings
Operations (OBO), US
Department of State
Contracted by the Bureau of Overseas Buildings
Operations (OBO), the US Department of State,
on the basis of design and construction, Tepe
İnşaat built an additional building and facilities
and undertaken the related infrastructure and
landscaping on the current premises of the US
embassy in Kabul, Afghanistan as well as on an
additional plot that will be a part of the existing
complex. The construction of the temporary
prefabricated buildings was completed and
delivered by the joint venture formed by the
US-based ECC, Tepe İnşaat and Metag İnşaat
(ECCI-C) as of 2011.
AUTOMOTIVE GLASS ALLIANCE
RUS ZAO PLANT
Contract Date
November 25, 2011
Delivery Date
August 16, 2013
39,728 m2
Client
Automotive Glass Alliance Rus ZAO
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.
40 - 41
OPERATIONS IN 2011
SULAYMANIYAH
UNIVERSITY
Contract Date
January 17, 2005
Delivery Date
December 31, 2012
324,397 m2
Client
Ministry of Higher Education and
Scientific Research, Republic of Iraq
TRAKYA GLASS RUS ZAO
FLOAT PLANT
Contract Date
November 25, 2011
Delivery Date
August 16, 2013
107,340 m2
Client
Automotive Glass Alliance Rus ZAO
The construction project for the new campus of
the Sulaymaniyah University in Sulaymaniyah,
Northern Iraq has been carried out in
partnership between Tepe İnşaat (75%) and
FDC (25%). Construction of the new campus
for Sulaymaniyah University will extend over
an area of two million m2 and have a 25,000
student capacity; it is planned to be completed
by the end of 2012 with an additional contract
that has been signed. The project includes the
construction of faculty buildings, multipurpose
indoor and outdoor sports facilities, swimming
pools, a health center, dormitories for girls and
boys, an open-air amphitheater, a cafeteria and
other social facilities. The campus, which will
have a very modern appearance in addition to
its infrastructure and landscaping, consists of
53 different buildings and facilities. As of the
end of 2011, 86% of the construction work on the
campus had been completed. Construction work
is currently in progress on 20 different buildings
as well as the infrastructure and landscaping.
The plant, which will be constructed at the
Industrial Zone in Yelabuga in the Republic of
Tatarstan, part of the Russian Federation, will be
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 21 months.
TEPE İNŞAAT
ANNUAL REPORT 2011
TAV HAVALİMANLARI
(TAV AIRPORTS)
Providing services to both
airlines and passengers in 11
airports located in Turkey and
other countries in the region,
TAV Havalimanları continued
to excel in its operations in
2011 as well.
42 - 43
OPERATIONS IN 2011
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.
2000
TAV Istanbul Terminal İşletmeciliği A.Ş. was
founded.
TAV began operating at the Istanbul Atatürk
Airport International Terminal.
TAV began operating Atatürk Airport Domestic
Terminal.
2001
60% of Havaş shares were purchased.
“Primeclass” CIP service was launched.
Construction and operation of the Izmir
Adnan Menderes International Terminal
was transferred to TAV. TAV Izmir Terminal
İşletmeciliği A.Ş. was founded.
2004
Operating rights of TAV for the Atatürk Airport
were extended until 2005.
BTA began operating the Istanbul International
Airport Hotel.
TAV undertook the construction and operation
of the Esenboğa Airport Domestic and
International Terminal. TAV Esenboğa Yatırım
Yapım ve İşletme A.Ş. was founded.
TAV İşletme Hizmetleri A.Ş. was founded.
TAV Bilişim Hizmetleri A.Ş. was founded.
TAV won the tender for Tbilisi International
Airport in Georgia. TAV Urban Georgia LLC.
was founded.
TEPE İNŞAAT
ANNUAL REPORT 2011
TAV HAVALİMANLARI
(TAV AIRPORTS)
2006
Operation and construction services were
restructured under two separate companies,
TAV Havalimanları Holding A.Ş. and TAV
İnşaat.
Izmir Adnan Menderes Airport International
Terminal commenced operation.
In line with its continuous development
principle, TAV Havalimanları invests
significant resources every year toward
the development of its corporate
capacity and human resources assets.
TAV Havalimanları won the tender for the
Monastir Habib Bourguiba and Enfidha Zine
El Abidine Ben Ali International Airports in
Tunisia. TAV Tunisie SA was founded.
Groundbreaking ceremony for the Tunisia
Enfidha Zine El Abidine Ben Ali International
Airport was held.
Esenboğa Airport Domestic and International
Terminal commenced operation.
40% minority shares of Havaş were purchased.
Havaş then became a wholly-owned subsidiary
of TAV Havalimanları Holding.
TAV Özel Güvenlik Hizmetleri A.Ş. was
founded.
TAV Havalimanları Holding became the sole
owner of TAV Izmir and TAV Esenboğa.
2007
operation of the Antalya Gazipaşa Airport.
TAV Havalimanları Holding was offered to the
public.
The new passenger terminal at the Tbilisi
International Airport commenced service.
Batumi International Airport commenced
operation.
A refinancing agreement was signed to
improve the terms of the existing loans for TAV
Esenboğa Yatırım Yapım ve İşletme A.Ş.
TAV Batumi Operations LLC. was founded.
The Hopa Terminal operated by Havaş
commenced service.
2008
TAV Havalimanları took over the operation of
the Monastir Habib Bourguiba International
Airport in Tunisia.
TAV Istanbul entered into a refinancing
agreement to improve the terms of its existing
loans.
44 - 45
OPERATIONS IN 2011
TAV Gazipaşa Yatırım, Yapım ve İşletme A.Ş.
was founded to operate the Antalya Gazipaşa
Airport.
A loan agreement was signed for the project
finance of TAV Tunisie SA.
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.
TAV Havalimanları acquired 6% of the share
capital of TAV Urban Georgia LLC, of which
60% was already owned by TAV Havalimanları.
Following the share transfer, the participation of
TAV Havalimanları in TAV Urban Georgia LLC
increased from 60 to 66%.
2009
The capital of TAV Havalimanları Holding
A.Ş. was raised from TRY 242,187,500 to TRY
363,281,250 in cash.
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.
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.
TEPE İNŞAAT
ANNUAL REPORT 2011
TAV HAVALİMANLARI
(TAV AIRPORTS)
2010
TAV Havalimanları Holding took over the
operations in Skopje and Ohrid airports in
Macedonia for 20 years.
Sale of Havaş shares closed.
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 5050 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.
With a major breakthrough in 2011,
TAV Havalimanları undertook the
build-operate-transfer project for
the Medina Airport together with its
partners, Al Rajhi and Saudi Oger.
TAV signed a “Global Training Center”
agreement with the Airports Council
International (ACI), with more than 1,600
member airports worldwide.
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%.
46 - 47
OPERATIONS IN 2011
TAV Urban Georgia from 66 to 76%.
TAV Batumi Operations LLC from 60 to 76%.
BTA Denizyolları was founded by the 50-50
joint venture between BTA and TASS; BTA
commenced its operations at İDO.
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.
TEPE İNŞAAT
ANNUAL REPORT 2011
TAV HAVALİMANLARI
(TAV AIRPORTS)
Providing services for 451,000
aircraft and 53 million passengers
in 2011 at the 11 airports it operates,
TAV Havalimanları Holding achieved
great success in Turkey and beyond.
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.
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.
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
TAV Havalimanları Holding
Shareholding Structure
Shares (1)
Capital
Share (%)
Tepe İnşaat Sanayi A.Ş.
94,664,477
26.1
Akfen Holding A.Ş.
94,886,071
26.1
Sera Yapı Endüstrisi ve
Ticaret A.Ş.
14,644,716
4.0
Non-floating Part
(Other)
12,775,048
3.5
146,310,939
40.3
363,281,250
100.0
Company Name
Floating Part (Other)
Total
(1)
As of December 31, 2011
48 - 49
OPERATIONS IN 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. Following the aforementioned
share transfer, the new shareholding structure
of TAV Havalimanları Holding A.Ş. is as follows:
Company Name
Capital
Share (%)
Aeroports de Paris Group*
38.0
8.1
Akfen Holding A.Ş.
8.1
Sera Yapı Endüstrisi ve Ticaret A.Ş
2.0
Non-floating (Other)
3.5
Floating (Other)
* Tank ÖWA alpha GmbH, a wholly-owned
subsidiary of Aéroports de Paris
40.3
TEPE İNŞAAT
ANNUAL REPORT 2011
TAV HAVALİMANLARI
(TAV AIRPORTS)
During 2011, 451,000 aircraft and
53 million passengers were served at
the 11 airports TAV Havalimanları
Holding operates. It was a great
success for Turkey and beyond.
AIRPORTS IN FIGURES
Istanbul Atatürk Airport
International Terminal
Duration of Operation/Expiration of
Operation: 15 years and 6 months/January 2021
2011 Passenger Traffic: 23,900,000
2010 Commercial Flight Traffic: 200,000
Domestic Terminal
Ankara Esenboğa Airport
Operation: 16 years and 7 months/May 2023
Domestic Terminal
Operation: 16 years and 7 months/May 2023
2011 Commercial Flight Traffic: 12,000,000
İzmir Adnan Menderes Airport
Antalya Gazipaşa Airport
Operation: July 2034
Georgia Tbilisi International Airport
Operation: 20 years/February 2027
2011 Passenger Traffic: 1,058,000 2011 Commercial Flight Traffic: 19,600
Georgia Batumi International Airport
Operation: 20 years/February 2027
2011 Passenger Traffic: 133,900 2011 Commercial Flight Traffic: 3,500
Tunisia Monastir Habib Bourguiba
International Airport
Operation: 40 years/May 2047
Tunisia, Enfidha Zine El Abidine
Ben Ali International Airport
Operation: 40 years/May 2047
Monastir and Enfidha Total Traffic
Macedonia Skopje Alexander the
Great International Airport
Duration of Operation: 20 years
2011 Passenger Traffic: 764,000
Macedonia Ohrid St Paul the Apostle
International Airport
Duration of Operation: 20 years
2011 Passenger Traffic: 74,000
2011 Commercial Flight Traffic: 904
50 - 51
OPERATIONS
KISACA TEPE INİNŞAAT
2011
TEPE İNŞAAT
ANNUAL REPORT 2011
TAV İNŞAAT
(TAV CONSTRUCTION)
TAV İnşaat was ranked 114th in the
Engineering News Record listing of
the largest international construction
companies in the world during 2011.
The shareholding structure of TAV İnşaat,
founded by Tepe, Akfen Holding and Sera Yapı
Endüstrisi ve Ticaret A.Ş., as of December 31,
2011 is as follows: 42.5% Akfen Holding, 47.5%
Tepe İnşaat and 10.0% Sera.
On May 16, 2012, the Aéroports de Paris Group
had purchased 38% of the shares of TAV
Havalimanları Holding A.Ş. as well as 49% of the
shares of TAV Yatırım, the owner of TAV İnşaat.
Following the transaction, the shareholding
structure is now as follows:
Company Name
Aeroports de Paris Grubu
Capital
Share (%)
49
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
TAV İnşaat’s area of activity is primarily
construction (directly, with a Build-OperateTransfer method, mixed method or in return
for a flat/floor method) and includes operating,
marketing, selling or leasing by contracting
projects such as airport terminals in Turkey
and abroad, hangars and facilities, shopping
malls, tourism facilities, sports facilities,
entertainment venues, business centers,
industrial facilities, residences and housing,
roads, tunnels, subways, bridges, dams,
telephone lines and other infrastructural
facilities, cultural and social venues as well as
all other construction and contracting work
including consulting and inspection services in
these fields.
Although it is a rather new business
organization established in 2003, TAV İnşaat is
steadily advancing in the global construction
industry. With offices and business partnerships
with the leading companies in the global
construction industry (Doha project Taisei
- Japan, Libya projects CCC - Lebanon and
Odebrecht - Brazil, Oman and Abu Dhabi
projects CCC- Lebanon etc.), TAV İnşaat
achieved a significant turnover. TAV İnşaat
was ranked 114th in the Engineering News
Record (ENR) listing of the largest international
construction companies during 2011. According
to ENR, AV İnşaat also ranked fourth in airport
construction in 2011.
52 - 53
OPERATIONS
2011
TEPE İNŞAAT
ANNUAL REPORT 2011
TAV İNŞAAT
(TAV CONSTRUCTION)
TAV İNŞAAT IN FIGURES
Doha International Airport
Project Value: US$ 3,691 million
(65% Taisei and 35% TAV İnşaat partnership)
Commencement Date: Mach 2006
Delivery Date: February 2012
Job Description: Construction of 505,000 m2
terminal building and three concourses
Emirates Finance Towers
Project Value: US$ 115 million
Commencement Date: February 2007
Delivery Date: June 2011
Job Description: Construction of residential
and commercial buildings of the twin Emirates
Finance Towers each with 3B+G+25 stories
Sulafa Tower (Dubai, UAE)
Project Value: US$ 103.5 million
Commencement Date: January 2006
Delivery Date: February 2011
Job Description: Construction of 79-story
building at the Dubai Marina with a total
construction area of 133,000 m2
Construction of the Hotel and Residence
at the Dubai Marina (BAE)
Dubai Marina: 101-story Hotel and
Residence (Dubai, BAE)
Commencement Date: January 2008
Delivery Date: November 2011
Job Description: Construction of Marina
101 Hotel and Residence, a 101-story building
with a total construction area of 156,000 m2
at the Dubai Marina (BAE)
Libya Tripoli International Airport
Project Value: US$ 2,103 million (50% Odebrecht,
25% TAV İnşaat and 25% CCC partnership)
Commencement Date: August 2007
Delivery Date: May 2013
Job Description: Construction of two terminal
buildings, each with a construction area of
206,112 m2 (ten million passengers/year)
Libya Sebha International Airport
(50% TAV İnşaat and 50% CCC partnership)
Commencement Date: December 2008
Delivery Date: June 2013
Job Description: Construction of the airport
(5 million passengers/year)
Oman Muscat International Airport MC1 Package
Project Value: US$ 1,170 million
(50% TAV İnşaat and 50% CCC partnership)
Commencement Date: June 2009
Delivery Date: January 2013
Job Description: Infrastructure work at the
Muscat International Airport
Istanbul Atatürk Airport
Investment Project in 2010
Commencement Date: February 2010
Delivery Date: April 2011
Job Description: Development and expansion
of the terminal building at the airport
Macedonia Skopje and Ohrid Airports
Construction Project
Commencement Date: March 2010
Delivery Date: October 2011
Job Description: Construction of the terminal
building at the Skopje Airport and renovation
work at Ohrid Airport
54 - 55
OPERATIONS
2011
TEPE İNŞAAT
ANNUAL REPORT 2011
İDO İSTANBUL DENİZ
OTOBÜSLERİ
(ISTANBUL SEA BUSES)
İstanbul 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.
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 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).
İDO provides transportation services for
passengers and vehicles in Istanbul and
within the Marmara Sea with a total of 18 lines
including 12 sea bus lines, two car ferry lines
and four fast ferry lines. With its modern fleet
comprised of 53 vessels (25 sea buses, 18 car
ferries and 10 fast ferries), İDO is one of the
world’s leading sea transportation companies.
İDO, one of the affiliates of Tepe
İnşaat, provides transportation
services for passengers and vehicles
in Istanbul and the Marmara Sea
with a total of 18 lines, including 12
sea bus lines, two car ferry lines and
four fast ferry lines.
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.
Investments Made and Planned as
Part of Strategic Planning
• SAP Structuring Project
• SAP Upgrade
• SAP BPC (Budgeting, Planning and
Consolidation)
• SAP BO
• Hitit Sales System
56 - 57
OPERATIONS IN 2011
Financial and Operational Indicators of İDO in 2011
2011
Turnover
408.129.076
EBITDA
140.771.918
Number of Passengers
49.865.366
Number of Vehicles
Number of Trips
Number of Employees
9.061.986
177.978
632
The Fleet
Sea Buses
25
Fast Ferries
10
Car Ferries
18
Service Vessels
Total
2
55
TEPE İNŞAAT
ANNUAL REPORT 2011
İDO İSTANBUL DENİZ OTOBÜSLERİ
Business Development and Strategy
After privatization, İDO began dealing with the
heavy vehicle traffic through the Ro-Ro Project
that had 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
Map of Operations
Winter Period
Passenger Capacity
32,035
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.
design will 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.
Vehicle Capacity
Summer Period
Passenger Capacity
Vehicle Capacity
2,790
32,239
2,790
58 - 59
OPERATIONS IN 2011
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.
2000 Barbaros Hayrettin Paşa and Sokullu
Mehmet Paşa, two 400-passenger sea buses
built at the Pendik Shipyard, commenced
service.
TEPE İNŞAAT
ANNUAL REPORT 2011
İDO İSTANBUL DENİZ OTOBÜSLERİ
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.
The İDO fleet is comprised of
53 vessels with a total holding
capacity for 35,813 passengers and
3,312 vehicles.
Fatih, the first of the Model 4 boats chosen by the
citizens of Istanbul, was put in service.
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
2007 Five new sea buses built in Singapore and the Bandırma line and was extended to all intercity
the Osman Gazi–1 and Orhan Gazi–1 fast ferries, lines by August.
each with a holding capacity of 225 vehicles
and 1,200 passengers, built by Austal, joined the 2012 The İDOBÜS sales system was completed and
commenced trips in March.
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.
The SAP Restructuring Project was completed.
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.
İDO ranked 254 among the largest 500 companies in
Turkey according to the Fortune Turkey 500 list.
60 - 61
OPERATIONS
2011
TEPE İNŞAAT
ANNUAL REPORT 2011
HUMAN RESOURCES
POLICY
Understanding the importance of the human
element in achieving success, Tepe İnşaat
focuses on establishing an organizational
structure that would serve both the personal
and professional development of its employees
and enable efficient management of its current
human resources asset. Through its training
programs on which a significant budget is
invested every year, the Company aims to
increase the efficiency of its organizational
structure and the professional capability of its
human resources.
The Human Resources Policy, which has
an important place in long-term strategies,
plans and programs at Tepe İnşaat, includes
functions such as the recruitment, training and
development of employees as well as processes
related to career planning, performance
assessment, remuneration, implementation
of corporate culture, increasing employee
motivation, and health and safety.
The Human Resources Policy of
Tepe İnşaat is based on establishing
a committed and motivated human
resources asset that would make
the organizational structure of the
Company more powerful.
Operating in a globally competitive sector,
Tepe İnşaaat has a dynamic organizational
structure that manages business processes
successfully in terms of swiftness and efficiency
via its performance management system. This
performance management system includes
motivation-oriented practices such as job
analysis, appreciation and reward systems.
Because of the industry in which it operates,
Tepe İnşaat also attaches maximum importance
to health and safety practices.
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 2011 as well.
As of the end of 2011, human resources profile
at Tepe İnşaat is as follows:
62 - 63
OPERATIONS IN 2011
GENDER PROFILE (%)
MALE
FEMALE
89
11
AGE PROFILE (%)
20-30
15
31-40
41 and above
35
49
Staff Breakdown (%)
Domestic Investment Projects
8
Headquarters
Domestic Contracting Projects
14
36
Support Units
7
International Contracting Projects
35
TEPE İNŞAAT
ANNUAL REPORT 2011
HUMAN RESOURCES
POLICY
With human resource assets,
possessing experience and expertise
above the sector average, Tepe İnşaat
stands out against its competitors.
Experıence Profıle (%)
1-5 years
6-15 years
63
30
Qualification Profile (%)
Technical staff
29
Administrative staff
23
Other
48
Education Profile (%)
Elementary School
Secondary School
35
22
Associates Degree
6
Undergraduate Degree
37
15+ years
7
64 - 65
OPERATIONS IN 2011
Training Policy
To meet the organizational, professional
and personal training needs of Tepe İnşaat
employees, requests for training collected from
the departments at the end of each year are
discussed at the Board of Training meeting
chaired by the General Manager and are
included in the annual training plan.
The Company 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.
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.
In line with these principles, nine of the 48
outsourced training courses and 15 of the
18 planned in-house training courses were
achieved during 2011. Employees at Tepe also
participated in four of the sessions held by the
Human Resources Unit at Bilkent Holding.
TEPE İNŞAAT
ANNUAL REPORT 2011
OCCUPATIONAL SAFETY,
ENVIRONMENT AND
QUALITY POLICY
Tepe İnşaat ISO 9001 Quality Management
System
Through its quality management system
applications, Tepe İnşaat aims to achieve
customer satisfaction by continuously
improving its system while implementing
efficient applications that maintain its
regular production and meets domestic and
international clients’ demands as well as current
legal conditions.
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.
In addition to its financial and
operational successes, Tepe İnşaat
is renowned in the private sector for
its successful occupational safety,
environmental and quality practices.
Regarding management system practices
at construction sites, quality 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 other parties and carries out
updates in line with current needs.
66 - 67
OPERATIONS IN 2011
During the integration of the Occupational
Health and Safety Management System into the
corporate structure of the Company, the PDCA
Cycle (Plan-Do-Check-Act) 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
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.
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,
emergencies and using protective equipment.
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
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.
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.
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.
TEPE İNŞAAT
ANNUAL REPORT 2011
BİLKENT
UNIVERSITY
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.
The first and leading foundation university in
Turkey, Bilkent aims to be among the world’s
leading universities in terms of scientific,
cultural and artistic activities renowned for
its quality of education, competent scientific
research and publications. The name of the
university is inspired from this aim; Bilkent is
the abbreviation of “bilim kenti” in Turkish,
which means “the city of science.”
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,
Established in 1984 as the first
foundation university in Turkey,
Bilkent University offers world-class
education to 12,000 students.
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 most
important 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,
12,000 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
68 - 69
OPERATIONS IN 2011
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.
Bilkent University in Figures
Thanks to the modern vision and expert skills
they acquire during their education, graduates
of Bilkent University successfully represent
their university both in the business world and
in other established educational institutions
throughout the world.
• The campus sits on approximately 5,000 acres
of land, of which 3,000 acres are afforested.
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.
• Bilkent offers 39 associate and undergraduate
programs and 47 postgraduate programs.
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.
• Founded in 1984 as Turkey’s first foundation
university, Bilkent commenced education in
1986.
• Approximately one-third of the 12,000
students who are enrolled to Bilkent are on a
scholarship.
• 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 TRY 250,000,000 between
2005 and 2010 via 172 TÜBİTAK projects, 62
European Union projects and 74 private and
public sector company projects.
• Computer labs have more than 2,000
computers available 24 hours a day, 365 days a
year.
TEPE İNŞAAT
ANNUAL REPORT 2011
BİLKENT
UNIVERSITY
• 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.
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 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.
Head Offıce
Beytepe Köyü Yolu No:5 06800
Bilkent, Ankara, Turkey
Phone: +90 (312) 266 58 00 (LINE 13)
Fax: +90 (312) 266 78 38 - 39
E-mail: [email protected]
Istanbul Offıce
Başıbüyük Mah. Emek Cad. No:281/B
Narcity Konutları Maltepe, Istanbul, Turkey
Phone: +90 (216) 675 08 00 - 01
Fax: +90 (216) 675 08 02
Azerbaıjan
Intepe Offshore LTD.
Hakverdiyev Küçesi Ev No:21
Baku, Azerbaijan
Phone: + (994) 12498 14 95
Fax: + (994) 12498 92 57
E-mail: [email protected] / [email protected]
Albanıa
Gjergji Business Center Floor 5 No:1-2
Tirana, Albania
Phone: + (355) 42251187
Fax: + (355) 42258360
Russıa
119435, Bolshoy Savvinskiy Per., 9, Building 2,
Moscow, Russia
Phone: +7 (495) 221 10 49
Fax: +7 (495) 221 10 44
Iraq
Sulaymaniyah
New Sulaymaniyah University Campus Project
Qiliasan, Sulaymaniyah, Iraq
Phone: +(964) 770 364 34 66 - 750 115 14 62
Erbil
Gulan Street, English Village, No:250
Erbil, Iraq
Phone: +(964) 750 396 34 34 - 750 765 84 71
Turkmenıstan
Yimpaş Business Center
54, Turkmenbashi Avenue, Office No: 701 - B
Ashgabat, Turkmenistan
Phone: +993 (64) 035 147
www.tepeinsaat.com.tr

2011 - Tepe İnşaat

Transcription

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