FAAL YET RAPORU ANNUAL REPORT

Transkript

1 Genel Müdürlük Büyükdere Cad. fl Kuleleri Kule2 4.Levent, 3433 stanbul Tel: (212) Faks: (212) FAAL YET RAPORU ANNUAL REPORT

2 FAAL YET RAPORU ANNUAL REPORT Anadolu Sigorta bir kurulufludur. Anadolu Sigorta is a subsidiary.

3

4 Ç NDEK LER CONTENTS 4 Vizyonumuz, Misyonumuz Our Vision, Our Mission 5 Kurumsal De erlerimiz Our Corporate Values 67 Y l n Özeti Summary of the Year 89 Yönetim Kurulu Board of Directors 111 Dünyada Sigortac l k Insurance in the World 1213 Türkiye de Sigortac l k Turkish Insurance in cra Kurulu Executive Committee 15 Sektörü çinde Anadolu Sigorta Anadolu Sigorta in the Sector 1617 Kaza Accident 1819 Yang n Fire 221 Nakliyat Marine 2223 Mühendislik Engineering 2425 Tar m Agriculture 2627 Ferdi Kaza Personal Accident 2829 Hukuksal Koruma Legal Protection 31 Mali Tablolar Financial Statements 3235 Bilanço Balance Sheet 3639 Gelir Tablosu Statement of Income 441 Fon Ak m Tablosu Statement of Cash Flow 4243 Kâr Da t m Tablosu Statement of Profit Distribution 4445 Ba ms z Denetçi Raporu Independent Auditor s Report 4647 Denetçi Raporu Özeti Summary of Statutory Auditor s Report 48 Adresler Addresses

5 V ZYONUMUZ Anadolu Sigorta y sigortaya ihtiyac olan herkesin tercih edece i sigorta markas yapmak. Uluslararas sigortac l kta da referans gösterilen bir güce ulaflmak. M SYONUMUZ OUR VISION To make Anadolu Sigorta a brand that everyone who needs to be insured will prefer. To reach to a power that is also referred to in the International Insurance Business. OUR MISSION Anadolu Sigorta n n köklü, öncü, dürüst ve güçlü kurumsal de erlerinin fl nda; > Sektöre yön vermek, > Türkiye de sigorta bilincinin yayg nlaflmas n sa lamak, > Müflteri odakl hizmet anlay fl n uygulamak, > Finansal gücümüzü uluslararas standartlara yükseltmek, > fiirketimizin de erini art rmakt r. In the light of entrenched, leading, ethical and powerful corporate values of Anadolu Sigorta; > To orientate the sector, > To make the public awareness of insurance spread throughout Turkey, > To implement the Customer Focused service mentality, > To raise our financial power to international standards, > To increase the value of our Company. 4

6 KURUMSAL DE ERLERiMiZ OUR CORPORATE VALUES ANADOLU S GORTA VE KÖKLÜ GEÇM fi Atatürk ün talimat yla kurulmufltur ve Türkiye nin ilk ulusal sigorta flirketidir. Sigortac l k birikiminin getirdi i güçlü bir kurumsal yap ya sahiptir. ANADOLU S GORTA VE ÖNCÜLÜK Ürün yaratmada öncüdür. Hizmette öncüdür. Teknolojide öncüdür. Kendini yenileme kabiliyetiyle öncülü ünün devaml l n sa lar. Toplumsal sorumlulukta öncü role sahiptir. ANADOLU S GORTA VE DÜRÜSTLÜK Etik de erlere sahiptir. Verdi i sözleri mutlaka tutar. fieffafl k ilkesine sahiptir. nsani de erlerden vazgeçmez. ANADOLU S GORTA VE GÜÇLÜ YAPI Süreklili i olan bir mali güce sahiptir. Yayg n ve etkin hizmet a na sahiptir. Geliflmifl, nitelikli insan kayna na sahiptir. fl Bankas sinerjisinden güç al r. ANADOLU S GORTA: A COMPANY ENTRENCHED IN HISTORY Anadolu Sigorta was founded in accordance with the instructions given by Mustafa Kemal Atatürk as the Turkey s first national insurance company. It has a powerful corporate structure built on its knowledge of insurance accumulated through the years. ANADOLU S GORTA AND PIONEERSHIP Pioneer in creating product; Pioneer in service; Pioneer in technology; With its selfrenewing ability preserves its pioneering position; It plays a pioneering role in social responsibility. ANADOLU S GORTA AND INTEGRITY It has ethical merits; It fulfills its promises definitely; It inheres in transparency as principle; It never abandons human values. ANADOLU S GORTA AND A POWERFUL STRUCTURE It has a stable financial power; It has an extended and efficient service network; It has a sophisticated and high qualified human source; It gains power from the synergy created by fl Bankas. 5

7 YILIN ÖZET 23: Öncülü ünü üstlendi imiz Maksimum Hizmet anlay fl ile misyonumuza sahip ç karak yine sektör birincisi oldu umuz anahtar bir y l. MAL GÖSTERGELER Milyar TL Toplam Prim Geliri , , , ,4 Kaza , , , ,7 Yang n 3.313, , , ,3 Nakliyat 7.416, , , ,7 Mühendislik 3.747,7 8.96, , ,7 Tar m 53,6 57,6 71,1 132,4 Ferdi Kaza 4.965, ,8 8.67, ,5 Hukuksal Koruma 622, 817,5 957, , Ödenen Toplam Hasar 5.22, , , ,6 Teknik Rezervler (Net) 47.25, , , ,4 Özvarl k , , , ,8 Sermaye 3., 5., 8., 8., Kâr (Vergi Öncesi) , 59.89, , ,9 Sektöre yön vermek bizim misyonumuz. Türkiye de sigorta bilincinin yayg nlaflmas n sa lamak için girdi imiz araflt rmalar bizi hizmet kalitesinin yükseltilmesi yönünde ilerlemeye teflvik etti. Bugün sigortac l k sektörüne yön verdi ine inand m z Maksimum Hizmet Sigortac l, yani bir sigorta flirketinden alabilece iniz azami hizmet anlay fl misyonumuza ba l l m zdan do du. Bu misyonu üstlenmek için bize bir vizyon gerekli ise o da Anadolu Sigorta y sigortaya ihtiyac olan herkesin tercih edece i sigorta markas yapmakt r. Maksimum Hizmet in özü budur. fiirketimiz 23 y l n 445,6 trilyon TL üretimle, bir önceki y la göre %5,2 lik bir art flla yine sektör birincisi olarak baflar yla bitirmifl, %12,7 ile pazardan en yüksek pay alm flt r. 23 y l misyonumuz aç s ndan önemli kilometre tafllar ndan biri olmufltur. Hedefimiz hizmet kalitemizin ve pazar pay m z n yükselmesi ile birlikte sigortal say s n da art rmakt r. 24 te hizmetlerimiz aras na kat lan sa l k sigortas ile hizmet alan m z geniflletiyor ve önemli bir branflta daha sigorta bilinci afl lama görevini üstleniyoruz. Hedefe do ru yürürken bize gerekli bütün deste i ise Anadolu Sigorta n n kurumsal de erlerinden al yoruz: köklü bir geçmiflimiz, öncü bir rolümüz, dürüstlük ilkemiz ve güçlü bir yap m z var. 6

8 SUMMARY OF THE YEAR To orientate the sector is our mission. All the researches we have set about with the aim of making the awareness of insurance widespread have urged us to get further ahead in elevating the service quality. The maximum service you can get from an insurance company, that is Maximum Service Insurance, which we believe is now orientating the insurance sector, has been born out of our philosophy of maximum service. If we need a vision to undertake this mission, it is to make Anadolu Sigorta an insurance brand, which will be preferred by everyone who needs to be insured. This is the essence of Maximum Service. Our Company has ended the year 23 with the production of trillion TL, which, compared to that of the previous year, means an increase of 5.2%, and has taken the largest share of 12.7% of the market. The year 23 has been one of the important milestones regarding our mission. Our goal is to increase the number of insured while elevating the quality of our service and increasing our market share. In 24, we have extended our service range by adding health insurance to it, thus taking up the mission of making people more aware of insurance in another important branch. Walking towards to the target, we have taking all the support we need from the corporate values of Anadolu Sigorta: we have entrenched in history, we play a pioneering role, integrity is our principle, and we have a powerful structure. 23: A remarkable year in which we have again been the leader of the sector by claiming our mission with the philosophy of Maximum Service in which we have been the pioneering leader. FINANCIAL HIGHLIGHTS TL in Billions Total Premium Income 121, , , ,639.4 Accident 74, , , ,525.7 Fire 3, , , ,233.3 Marine 7, , , ,985.7 Engineering 3, , , ,593.7 Agriculture Personal Accident 4, , , ,516.5 Legal Protection ,652. Claims Paid 5, , , ,851.6 Technical Provisions (Net) 47, , , ,197.4 Shareholders Equity 36, , , ,169.8 Share Capital 3,. 5,. 8,. 8,. Income (Before Tax) 33, , , ,

9 YÖNET M KURULU BOARD OF DIRECTORS Burhan Karagöz Baflkan Chairman Burhanettin Kantar Üye Director Suat Gürsoy Üye Director Daver Orhon Üye Director Engin Murat Yüksel Üye Director 8 Mustafa Arca Denetçi Auditor Oktay Eke Denetçi Auditor

10 Ahmet Yavuz Baflkan Vekili Deputy Chairman G. Mahir Bayyurdo lu Üye ve Genel Müdür Director and Chief Executive Officer Hatice Hale Erpek Üye Director Ayd n Süha Önder Üye Director Cevdet Sözdinler Denetçi Auditor 9

11 DÜNYADA S GORTACILIK Küresel ekonomi 23 te, 2 y l ndan bu yana devam eden yavafllama ve durgunluk döneminden, ABD nin liderli inde ç km flt r. Irak Savafl yla ilgili endifleler ve Çin de ortaya ç kan SARS salg n, y l n ilk çeyre inde önemli at l mlar yap lmas na engel olmakla birlikte, 23 ün ikinci çeyre inden itibaren küresel ekonomi düzelmeye bafllam flt r. Gayri safi global hâs la art fl 23 y l genelinde yaklafl k %3,2 olup, 24 y l nda ise %4,1 oran nda art fl beklenmektedir. Geliflmifl ülke ekonomileri ortalama %1,8 lik büyüme gösterirken, geliflmekte olan ülke ekonomileri 23 te %5 büyümüfltür. Ayn trendin 24 te de sürmesi, geliflmifl ülke ekonomilerinin %2,9 luk büyümesi, geliflmekte olan ülke ekonomilerinin ise %5,6 büyümesi beklenmektedir. Genel olarak dünya ticaret hacminin 23 y l nda %2,9 gibi düflük oranl art fl ndan sonra 24 y l nda %5,5 kadar artmas beklenmektedir. Euro/Dolar paritesi, 23 y l na Amerikan ekonomisiyle ilgili belirsizlik ve Irak la savafl korkusuna ba l olarak yükseliflle girmifl; Euro yaz bafl na kadar sert bir de erlenme sergilemifl ve Aral k ay nda ABD Dolar karfl s nda 1,23 ü de aflarak bir rekor daha k rm flt r. Di er taraftan, ABD Dolar n n de er kayb, di er para birimlerine karfl eflit oranda gerçekleflmemifl, Asya merkez bankalar n n paralar n n de erlenmemesi için azimli çabalar ekonomik ayarlamalar n n daha çok Euro ile yap lmas na yol açm flt r. 22 y l n n bafllar ndan bu yana ABD Dolar Euro karfl s nda %2 oran nda de er kaybetmifltir. ABD Dolar n n Euro karfl s nda düflmesi Avrupa ekonomilerinin ihracat için dezavantaj olufltururken, Asya ülkeleri milli paralar n dolar karfl s nda zay f tutarak Asya'n n Amerika'ya ihracat n desteklemifltir. 23, geliflmifl borsalar için yükselifl y l olmufltur. ABD de teknoloji a rl kl NASDAQ bileflik endeksi 23 y l nda %46, Dow Jones sanayi endeksi ise %2 oran nda de er kazan rken Avrupa borsalar da ABD borsalar ile paralel görüntü çizmifltir. 1 y ll k süre içinde Alman Xetra Dax %35, Frans z CAC 4 %15, ngiliz FTSE 1 ise %11 de er kazanm fl, Japon ekonomisine iliflkin iyimserli in artarak devam etmesinin Tokyo borsas na iyi yönde yans mas sonucu Nikkei 225 endeksi y lbafl ndan bu yana % 23 oran nda de erlenmifltir. Alt n, 346 ABD Dolar düzeyinden girdi i 23 y l nda dalgal bir seyir izlemifl, alt n fiyatlar fiubat bafl nda yedi y l n zirvesi olan 376,5 ABD Dolar na ç km flt r. Aral k ay nda ise son sekiz y l n en yüksek düzeyi olan 41 ABD Dolar na dayanm flt r. Sanayileflmifl ülke faiz oranlar ise son 4 y l n en düflük seviyelerindedir. Ham petrol fiyatlar fiubat sonunda 39,99 ABD Dolar /varil ile Körfez savafl ndan sonraki en yüksek düzeyi görmüfl ve y l sonunu OPEC in üretim kotas n düflürece i beklentisinin yaratt bask ile geçen senenin üzerinde 33 ABD Dolar /varil ile kapatm flt r. Dünya sigortac l 23 y l nda kesinleflen verilere göre 22 y l nda %12,5 art flla bir önceki y l n 97 milyar ABD Dolar hayat d fl prim üretimini 1.91 milyar ABD Dolar na ç karm fl ve tüm dünya ekonomisinde pay %3,38 olarak gerçekleflmifltir. Hayat d fl branfllar toplam nda yaflanan 121 milyar ABD Dolar art fl n 6 milyar ABD Dolarl k k sm ABD sektöründen kaynaklanm flt r. ABD, tek bafl na, hayat d fl branfllarda tüm dünyada üretilen prim miktar n n %47,7 sini oluflturmufltur. 22 y l nda bir önceki y lda da oldu u gibi Kuzey Amerika (ABD ve Kanada) bölgesinin tüm hayat d fl sektörü toplam 1 içerisindeki oran yaklafl k %5, Avrupa ülkelerinin oran yaklafl k %32, Asya ülkelerinin (sadece Japonya%8,5) oran ise yaklafl k %13,5 olmufltur. çinde bulundu umuz Avrupa sigorta sektörü, %15,5 lik bir art flla, 299,5 milyar ABD Dolarl k üretimden 346 milyar ABD Dolarl k prim üretimine ulaflm flt r. Avrupa sigorta sektörü 1,221 milyar ABD Dolarl k Avrupa ekonomisinin %3,38 ini temsil etmifltir. Asya sigorta sektörü ise 22 y l nda, bir önceki seneye göre %8,1 art flla 138 milyar ABD Dolarl k üretimden 149 milyar ABD Dolarl k prim üretimine ulaflm flt r. Asya sigorta sektörü, toplam 8,175 milyar ABD Dolarl k Asya ekonomisinin %1,82 sini temsil etmifltir. Genel olarak prim üretim art fl tüm dünyada uzun dönem ortalamas n n (reel olarak %2,2) üzerinde gerçekleflerek (reel olarak %9,2) son 16 y l n en yüksek art fl olmufltur. Geliflmekte olan ülkeler art fl ise sanayileflmifl ülkeler art fl n n üzerinde gerçekleflmifltir. Art fl trendi 23 y l nda da devam etmifltir. Bu sayede aç klanacak 23 y l teknik sonuçlar n n da iyileflmesi beklenmektedir. Dünya sigorta ve reasürans sektörü, 23 y l nda meydana gelen yaklafl k 17 milyar ABD Dolarl k k sm sigortal olmak üzere, toplam 65 milyar ABD Dolarl k hasara neden olan katastrofik olaylara ra men rekorsuz bir hasar y l geçirmifltir. fiirketlerin gelirlerindeki art fllar, uluslararas kredi derecelendirme kurulufllar taraf ndan verilen notlarda beklenilen art fla yans mam fl, flirketler üzerindeki sermaye art fl bask lar devam etmifltir. Bu bask geçti imiz bir y l içerisinde piyasaya yaklafl k 27 milyar ABD Dolar net fon girifli sa lam flt r. Avrupa flirketleri kaynakl art fl tutar, 23 teki sermaye art fl n n %6 n oluflturmufltur. Bunun neredeyse yar s ise Munich Re kaynakl d r. Munich Re ye bankac l k sektöründeki yat r m portföyünü küçültmesi yönündeki bask sürmektedir. Bu arada sigortal ç kar n n korunmas aç s ndan yola ç k p reasürörlerin direkt piyasada yaratt etki nedeniyle Alman Finansal Hizmetler Denetleme Kurulu (BaFin) da reasürans flirketleri üzerindeki kontrolünü art rma amac ndad r. Hatta, Avrupa Birli i nin reasürans denetimine iliflkin direktifinin yay nlanmas n n gelecek seneye ertelenmesi üzerine BaFin bu konuda milli düzenlemeyi hayata geçirip Birlik Direktifi nin yay nlanmas ndan sonra da Direktif e uyum için gerekirse revize bir düzenlemeyi göze almaktad r. Reasürans flirketlerinin kapasitelerinin büyük bir k sm n katastrofik hasar fazlas anlaflmalara ay rmas, kapasitenin ihtiyaçtan fazla olmas na sebep olmufl, ancak daha önce keskin art fllar gören piyasalardaki l ml indirimler d fl nda teknik esaslara dayal fiyat disiplininin sürdü ü gözlenmifltir. Geçmifl tecrübeler, bu aflamadan sonra bir yandan neden teknik esasl fiyatland rmaya ba l kal nmas gerekti i ne dair tart flmalar sürerken bir yandan da s ran n fiyatlar n inifle geçti i aflamaya geldi ini göstermektedir. 24 te katastrofik bir hasar meydana gelmezse, bu hakl tart flman n bu sefer do ru sonucu mu yarataca na, yoksa fiyat döngüsündeki aflamalardan birisi olarak sadece devam belli bir süreçte rolünü mü oynam fl olaca na tüm taraflar birlikte flahit olacaklard r.

12 In the year 23, the global economy has left behind the deceleration and recession period continuing since 2, through the leadership of the USA. Although the worries about the war in Iraq and the SARS outbreak in China have prevented noticeable advancements in the first quarter of the year, the recovery in the global economy has started beginning from the second quarter of the year 23. Throughout the year 23, the increase in the Gross World Product has been approximately 3.2%; and an increase of 4.1% is expected in 24. Compared to the 1.8% average growth in the economies of developed countries, the economies of the developing countries have exhibited a 5% growth in 23. The same trend is likely to continue in 24, with an expected growth of 2.9% in the economies of the developed countries and 5.6% in the economies of the developing countries. Following the lower growth of 2.9% in 23 in the general world trade volume, the 24 growth ratio is anticipated as 5.5%. The Euro/Dollar exchange rate has begun the year 23 with an increasing trend caused by the uncertainty about the United States economy and the fear of the war in Iraq. The Euro has exhibited a steep revaluation trend until the beginning of the summer and it has broken a record in December by exceeding the ratio of 1.23 against the US Dollar. On the other hand, the decrease in the value of the US Dollar hasn t been realized equally against all the other currencies, and the resolute efforts of the Asian Central Banks in order to prevent the revaluation of their currencies have resulted in economic adjustments performed mainly through the Euro. Since the beginning of 22, the US Dollar observed a 2% devaluation against the Euro. This devaluation of the US Dollar versus the Euro has created a disadvantage for the exports of the European economies, whereas the Asian countries supported the export from Asia to the United States by maintaining weaker national currencies against the Dollar. 23 has been a year of ascent for developed stock exchange markets. In the United States, in 23, the technologybased NASDAQ composite index has gained 46% and the Dow Jones industrial index 2% value whilst the European stock exchange markets displayed a trend similar to that which experienced by the USA stock exchange markets. Within a period of one year, the German Xetra Dax has risen by 35%, the French CAC 4 by 15% and the British FTSE 1 by 11%. As the continuing optimism concerning the Japanese economy has been positively reflected on the Tokyo stock exchange, the Nikkei 225 has risen by 23% since the new year. The value of gold, which begun the year 23 around 346 USD, has shown a fluctuating trend and the gold prices has reached the sevenyear peak of USD in the beginning February, and has attained the eightyear apex of 41 USD in December. The interest rates in the industrialised countries are at the last 4year lows. Crude oil prices have peaked at the end of February to the highest rate since the Gulf War with USD per barrel and, exceeding past year s rate, concluded the year with 33 USD/barrel through the pressure induced by the expectation that the OPEC will decrease its production quota. According to the values definitely established in 23, in the year 22, the world insurance sector has elevated its nonlife premium production from the previous year s 97 billion USD to 1,91 billion USD, achieving a 12.5% increase. Its share in the world economy has been 3.38%. 6 billion USD of the total increase of 121 billion USD in nonlife fields has been produced by the USA. INSURANCE IN THE WORLD The USA has individually supplied 47.7% of the premium production around the world in nonlife fields. In the year 22, as in the previous year, the total share of North America (USA and Canada) in the nonlife sector total has been approximately 5%, while that of the European countries has been 32% and of the Asian countries (solely Japan: 8.5%) has been 13.5% approximately. The European insurance sector, which we are also a part of, has realised a premium increase of 15.5%, from billion USD to 346 billion USD. The European Insurance Sector has represented a 3.38% share of the European economy of 1,221 billion USD. The Asian insurance sector, on the other hand, has achieved an 8.1% growth in 22 compared to the previous year, with a production increase from 138 billion USD to 149 billion USD. The Asian insurance sector has represented 1.82% of the Asian economy of 8,175 billion USD. In general, throughout the world, increase in the premium production (9.2% real) exceeding the (2.2% real) long term average has been the highest in the last 16 years. Meanwhile, the increase in the developing countries has been higher than the ratio in the industrialised countries. The rising trend has continued to prevail also in the year 23. Thanks to this, the technical results of the year 23 to be announced are expected to improve. In spite of the catastrophic events occurred in 23 causing a total loss of 65 billion USD, of which a part of circa 17 billion USD being under insurance cover, the world insurance and reinsurance sector has been through a loss year without records. The increases in the company revenues haven t been reflected as the anticipated improvements in the ratings of the international credit rating organisations and the capital increase pressure on the companies have been persistent. This pressure resulted in 27 billion USD net funds entrance to the market in the last year. The increase originating from the European companies has made up 6% of the capital increase in 23. Nearly half of this has come from Munich Re. The pressure on Munich Re to shrink its investment portfolio in the banking sector is continuing. Besides, The German financial services regulator, Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) is also aiming at a stricter control on the reinsurance companies due to the influence of the reinsurers on the direct market in order to protect the benefits of the insured. Further to the postponement of issuance of the EU Directive on reinsurance supervising, the BaFin decided to establish a national regulation venturing a prospective revision for harmonisation after the issuance of the EU Directive. The allotment of the major part of the reinsurance company capacities to the catastrophe coverage agreements has caused the capacity to be larger than the demand. However, except for the mild discounts in the markets where previously sharp increases have occurred, it has been observed that the pricing discipline based on technical principles continued. Past experience shows that after this stage the debate about the dependence on the pricing based on technical principles continues whilst on the other hand the prices start a falling trend. In the year 24, if no catastrophic damage occurs, all the parties will find out if this rightful debate will produce the right result, or will just have played its part as a phase in the pricing cycle in a predetermined process. 11

13 TÜRK YE DE S GORTACILIK 23 y l n n ilk yar s nda Türkiye ekonomisindeki büyüme trendi Irak Savafl n n yaratt olumsuz beklentiler sebebiyle yavafllama kaydetmifl, ikinci yar da bu beklentilerin ortadan kalkmas yla büyüme trendinin h zland gözlenmifltir. 23 y l ndaki olumlu geliflmelerin katk s yla, sigorta sektörü %36,7 oran nda büyürken, hayat ve sa l k d fl branfllarda bir önceki y la göre %34,9 art flla 3,5 katrilyon TL prim üretilmifltir. Sigorta sektöründe yaflanan en önemli geliflme, Hazine Müsteflarl 'n n 23 y l ndan itibaren tüm sigorta flirketlerinin cari rizikolar karfl l n gün esasl olarak poliçe baz nda ay rmalar karar olmufltur. Bu karar sigorta flirketlerinin teknik kârl l klar nda 23 y l na özgü olmak üzere negatif bir etki yaratm flt r. Enflasyonla birlikte düflmeye bafllayan faizler flirketlerin mali kârlar n olumsuz yönde etkilemifltir. 23 y l, sektörün mali bünyesini güçlendirmek için yeterli kâr elde edilemedi i, ölçüsüz fiyat rekabetinin fliddetlendi i, baz sigorta flirketlerine el konuldu u, ruhsatlar n n iptal edildi i, baz lar n n da iflas etti i bir y l olmufltur. Ayr ca Sigorta Düzenleme ve Denetim Kanunu Tasar s IMF ye verilen tüm taahhütlere ra men yasalaflt r lamam flt r. Bireysel Emeklilik Sistemi nde yasal düzenlemeler tamamlanm fl, Bireysel Emeklilik fiirketleri faaliyete geçmifltir. 23'te hayat ve sa l k d fl branfllardan elde edilen toplam teknik kâr bir y l öncesine göre %36,6 oran nda azalarak 156 trilyon TL olmufl ve sektörün teknik kâr oran %4,44 seviyesinde gerçekleflmifltir. 23 y l sonu itibariyle sektörde 34 ü elementer sigorta, 21 i hayat sigortas ve 3 ü reasürans flirketi olmak üzere toplam 58 flirket faaliyet göstermektedir. fiirketimiz 23 y l n toplam prim üretiminde sektör birincisi olarak tamamlam fl, bir önceki y la göre %5,2 oran nda art flla, 445,6 trilyon TL'lik prim üretimi gerçeklefltirmifl, elementer flirketler aras nda %12,7 ile pazarda en yüksek pay alm flt r. 12

14 TURKISH INSURANCE IN 23 Because of the negative expectations induced by the war in Iraq, in the first half of the year of 23 the growth trend of Turkish economy has slowed down, but has again gained acceleration after these negative expectations have dissipated. With the contribution of the positive progresses took place in the year 23, in the branches except for those of life and health, a premium production of 3.5 quadrillion TL has been realized with the increase of 34.9% compared to the previous year, while the insurance sector itself has grown 36.7% by volume. The decision of calculating and booking in the unearned premium reserve of the insurance companies on policy basis and based on the number of days left to maturity, which was made by the Undersecretariat of Treasury has been the most important progress experienced in the insurance sector. Being particular to the year 23, this decision has induced a negative effect on the technical profitabilities of insurance companies. Parallel to the reduction in inflation the decline in interest rates has had negative effects on financial profits of companies. Throughout the year 23, companies had not been able to gain sufficient profits to strengthen their financial structures, a measureless price competition had become even more rigorous, some insurance companies had been seized and their licenses had been rendered null and some of them had gone bankrupt. On the other hand, despite all the commitments given to the IMF, the Draft Law of Insurance Verification Act has not yet been legalized. All the legal regulations related to Private Pension System have been completed, and Private Pension Companies have now become active. In the year 23, the total technical profit gained from the branches excluding those of life and health has, compared to that of previous year s, decreased 36.6% by volume and has been 156 trillion TL and the technical profit rate of the sector has been 4.44%. Regarding the year 23, consisting of 34 elementary insurance, 21 life insurance and 3 reinsurance companies, totally 58 companies have been active in the sector. Our Company has closed the year 23 as the leader of the sector, has realized the premium of trillion TL with an increase of 5.2% compared to the year 22, among the elementary insurance companies it has gained the largest share of 12.7% from the market. 13

15 CRA KURULU EXECUTIVE COMMITTEE G. Mahir Bayyurdo lu Genel Müdür Chief Executive Officer Bedri Özdinçer Genel Müdür Yard mc s Deputy Chief Executive Hasar Müdürlü ü, Hukuk ve Rücu fllemleri Müdürlü ü Claims, Legal Affairs and Subrogation Organizasyon Müdürlü ü, Bilgi fllem Müdürlü ü, Oto Sigortalar Müdürlü ü, Sa l k Sigortalar Müdürlü ü Organization, EDP, Motor Insurance, Health Insurance Gürkan fienol Genel Müdür Yard mc s Deputy Chief Executive Hamdi Sar kaya Genel Müdür Yard mc s Deputy Chief Executive Yang n ve Mühendislik Sigortalar Müdürlü ü, Nakliyat ve Sorumluluk Sigortalar Müdürlü ü, Reasürans Müdürlü ü Fire and Engineering Insurance, Marine and Liability Insurance, Reinsurance Atila Macun Genel Müdür Yard mc s Deputy Chief Executive 14 E itim Müdürlü ü, nsan Kaynaklar Müdürlü ü, nflaat Emlak ve dari fller Müdürlü ü, Muhasebe ve Mali fller Müdürlü ü, Pazarlama ve Halkla liflkiler Müdürlü ü, Bölge Müdürlükleri Training, Human Resources, Premises, Real Estate and Internal Services, Accounting and Finance, Marketing and Public Relations, Regional Offices

16 SEKTÖRÜ Ç NDE ANADOLU S GORTA ANADOLU S GORTA IN THE SECTOR fiirketimiz 23 y l nda 445,6 trilyon TL prim üretimi gerçeklefltirmifl ve 6,2 trilyon lira (%1,4 oran nda) teknik kâr elde etmifltir. Bu sonuçlar ile fiirketimiz %12,7 ile pazardan en yüksek pay alm fl ve sektörde prim üretimi bak m ndan birincilik konumunu sürdürmüfltür. Toplam portföy içinde en yüksek pay kaza branfl alm flt r. Kaza branfl n n ard ndan yang n ve nakliyat branfllar gelmektedir. In the year 23, our company realized a premium production trillion TL, and gained a technical profit of 6.2 trillion TL (1.4% by volume). With these outcomes, our company has the largest market share with 12.7%, and still has the leading position in the sector, regarding the premium production. The highest share in total portfolio is of the accident branch, which is followed by fire and marine branches. 15

17 KAZA 23 y l nda kaza sigortalar prim üretimi 22 y l na göre %53 oran nda artm fl ve milyar TL ye ulaflm flt r. 23 y l nda ekonomide yaflanan olumlu geliflmelerin otomotiv sektörüne pozitif yönde etkileri, Türk Liras n n döviz karfl s nda de er kazanmas gibi geliflmeler kasko sigortalar prim üretiminde h zl bir art fl yaflanmas n sa lam fl ve portföyümüz üzerinde olumlu etki yaratm flt r. Prim Üretimi De iflim (Milyar TL) (%) Sigorta Türü Oto Sorumluluk H rs zl k Cam K r lmas Muhtelif Do rudan Üretilen Primler Al nan Reasürans Primleri Toplam Üretim

18 ACCIDENT Compared to the year 22, in the year 23, accident insurances premium income has increased 53% by volume, and reached up to 238,526 billion TL. The positive effects of the progresses experienced in the economy in the year 23 on the automotive sector, and TL s gaining value against exchange rate have ensured a rapid increase in motor insurance premium production, and have had a favorable effect on our portfolio. Premium Production Difference (in billion TL) (%) Type of Coverage Car 146, , Liability 2,32 3, Theft and Burglary 1,647 1, Plate Glass Other 3,16 4,96 3 Direct Premium Income 153, , Reinsurance Premiums Received 2,723 4,38 61 Total Production 156,94 238,

19 YANGIN 23 y l nda da, önceki y llarda oldu u gibi fiyat rekabeti tüm h z yla sürmüfl, sigorta teminat kapsamlar giderek genifllemifl ve kâr kayb sigortalar na iliflkin talepler artmaya devam etmifltir. Öte yandan, 23 y l nda yaklafl k %55 lik bir art flla milyar TL lik prim üretimine ulafl lm fl ve sektörde yang n sigortalar üretiminde birincili imiz devam etmifltir. Prim Üretimi De iflim (Milyar TL) (%) Sigorta Türü Sivil Ticari S nai Do rudan Üretilen Primler Al nan Reasürans Primleri Toplam Üretim

20 FIRE As it was in the previous years, throughout also the year 23, price competition has continued intensively at full speed, insurance coverage has gradually been widened, and demands related to loss of profits insurance have continued to increase. On the other hand, in the year 23, with an increase of approximately 55%, a premium production of 135,233 billion TL has been realized, and our leading position in the sector regarding fire insurances production has been preserved. Premium Production Difference (in billion TL) (%) Type of Coverage Private 11,892 14, Commercial 34,916 52, Industrial 35,611 6, Direct Premium Income 82, ,37 56 Reinsurance Premiums Received 4,698 6, Total Production 87, ,

21 NAKL YAT 23 y l nda nakliyat branfl nda %23 art fl oran ile toplam milyar TL prim üretimi gerçekleflmifltir. Prim üretimi aç s ndan 23 y l n daha önceki y llarda oldu u gibi yine lider olarak tamamlayan fiirketimizin, nakliyat sigortalar ndaki pazar pay %17 seviyesinde gerçekleflmifltir. Prim Üretimi De iflim (Milyar TL) (%) Sigorta Türü Emtea Tekne Yat Sorumluluk Do rudan Üretilen Primler Al nan Reasürans Primleri Toplam Üretim

22 MARINE In the year 23, with the increase of 23%, a total premium production of 33,986 billion TL has been realized in marine branch. As it has been in the previous years, closing the year 23 again in leading position with respect to premium production, our Company has attained 17% market share in Marine Branch. Premium Production Difference (in billion TL) (%) Type of Coverage Cargo 15,597 2, Hull 9,132 9,57 5 Yacht Liability 1,498 2, Direct Premium Income 26,82 32, Reinsurance Premiums Received 795 1, Total Production 27,597 33,

23 MÜHEND SL K 23 y l nda mühendislik sigortalar prim üretiminde 22 y l na göre %45 oran nda art fl sa lanm flt r. 23 y l nda, yenilenebilir özellikte olan makine k r lmas ve elektronik cihaz branfllar na a rl k verilmifltir. Enerji projelerinin de yer ald makine k r lmas branfl nda %63, elektronik cihaz branfl nda ise %3 oran nda prim art fl gerçeklefltirilmifltir. Montaj All Risks sigortalar nda, yat r mlar n düflük seyretmesi ve proje üretiminin s n rl say da olmas dolay s yla art fl seviyesi %9 olarak gerçekleflmifltir. Prim Üretimi De iflim (Milyar TL) (%) Sigorta Türü nflaat All Risks Montaj All Risks Makine K r lmas Elektronik Cihaz Do rudan Üretilen Primler Al nan Reasürans Primleri Toplam Üretim

24 ENGINEERING Compared to the year 22, in the year 23, an increase of 45% has been ensured in the engineering insurance premium income. In the year 23, Machinery Breakdown and Electronic Equipment branches with renewable characteristics have been given weight. In the Machinery Breakdown branch, which also covers Energy Projects, a premium increase of 63% and in the Eletronic Equipment Branch a premium increase of 3% have been realized. Because of the limited project production and branch restrictions on investments, in Erection All Risks insurance a limited increase of 9% has been realized. Premium Production Difference (in billion TL) (%) Type of Coverage CAR 2,15 2, EAR Machinery Breakdown 9,58 14, Electronic Equipment 3,534 4,58 3 Direct Premium Income 15,475 22, Reinsurance Premiums Received 84 1,7 2 Total Production 16,315 23,

25 TARIM 23 y l nda tar m branfl nda tüm sektörde mevcut koflullar de iflmemifltir. Tar m sigortalar do rudan prim üretimi %32 lik bir art fl göstermifltir. Prim Üretimi De iflim (Milyar TL) (%) Sigorta Türü Do rudan Üretilen Primler Al nan Reasürans Primleri Toplam Üretim

26 AGRICULTURE In the year 23, in agriculture branch, the existing conditions have not changed throughout the sector. Direct premium income in agriculture insurance has shown an increase of 32%. Premium Production Difference (in billion TL) (%) Type of Coverage Direct Premium Income Reinsurance Premiums Received Total Production

27 FERD KAZA 23 y l nda ferdi kaza sigortalar prim üretimi hacmi 22 y l na göre %45 oran nda artm fl ve milyar TL ye ulaflm flt r. Prim Üretimi De iflim (Milyar TL) (%) Sigorta Türü Do rudan Üretilen Primler Al nan Reasürans Primleri Toplam Üretim

28 PERSONAL ACCIDENT Compared to the year 22, personal accident insurance premium income has increased 45% by volume in the year 23, and reached up to the amount of 12,516 billion TL. Premium Production Difference (in billion TL) (%) Type of Coverage Direct Premium Income 8,359 12, Reinsurance Premiums Received Total Production 8,67 12,

29 HUKUKSAL KORUMA 23 y l nda hukuksal koruma sigortalar prim üretimi hacmi 22 y l na göre %72 oran nda artm fl ve milyar TL ye ulaflm flt r. Prim Üretimi De iflim (Milyar TL) (%) Sigorta Türü Do rudan Üretilen Primler Al nan Reasürans Primleri Genel Toplam

30 LEGAL PROTECTION Compared to the year 22, in the year 23, legal protection insurance premium income has increased by 72% and reached up to the amount of 1,652 billion TL. Premium Production Difference (in billion TL) (%) Type of Coverage Direct Premium Income 958 1, Reinsurance Premiums Received Total Production 958 1,

31

32 MAL TABLOLAR FINANCIAL STATEMENTS 31

33 B LANÇO 31 ARALIK 23 TAR HL BA IMSIZ DENET MDEN GEÇM fi B LANÇO (M LYON TL) AKT FLER NAK T DE ERLER Kasa Tahsil Edilecek Çekler Bankalar MENKUL DE ERLER CÜZDANI Hisse Senetleri Hisse Senedi De er Düflüflü () Tahviller Tahviller De er Düflüflü () Yat r m Fonlar (42.587) ( ) ALACAKLAR Sigortal lar Sigortal lar Sigortal lardan Prim Alacak Karfl l () Acenteler Acenteler Acentelerden Prim Alacak Karfl l () Alacak Reeskontu () Zorunlu Deprem Sigortas ndan Borçlu Acenteler Sigorta ve Reasürans fiirketleri Cari Hesab Sigorta ve Reasürans fiirketleri Nezdindeki Depolar krazlar Do al Afet Sigortalar Kurumu Cari Hesab Di er Alacaklar ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) DAR VE KANUN TAK PTEK ALACAKLAR dari ve Kanuni Takipteki Alacaklar dari ve Kanuni Takipteki Alacak Karfl l () ( ) ( ) fit RAKLER fltirakler fltirakler De er Azal fl Karfl l () fltirakler Sermaye Taahhütleri () ( ) (44.) ( ) (44.) SAB T DE ERLER Menkuller Menkuller Menkuller Birikmifl Amortisman () Gayrimenkuller Gayrimenkuller Gayrimenkuller Birikmifl Amortisman () ( ) ( ) ( ) ( ) D ER AKT FLER (Net) A K T F T O P L A M I

34 PAS FLER BORÇLAR Sigorta ve Reasürans fiirketleri Cari Hesab Sigorta ve Reasürans fiirketlerinin Depolar Borç Reeskontu () Ödenecek Vergi ve Di er Yükümlülükler Di er Borçlar ( ) ( ) KARfiILIKLAR A Teknik Karfl l klar Cari Rizikolar Karfl l Cari Rizikolar Karfl l Reasürörler Pay () Muallak Hasar Karfl l Muallak Hasar Karfl l Reasürörler Pay () Deprem Hasar Karfl l Di er Teknik Karfl l klar B Serbest Karfl l klar K dem Tazminat Karfl l Vergi Karfl l Di er Serbest Karfl l klar ( ) ( ) ( ) ( ) D ER PAS FLER Faiz Tahakkuku Vergi Karfl l ÖZKAYNAKLAR Ödenmifl Sermaye Nominal Sermaye Ödenmemifl Sermaye () Kanuni Yedek Akçeler Ola anüstü Hasar Karfl l htiyari Yedek Akçeler Ola anüstü Yedek Akçeler Yeniden De erleme Fonu Özel Fonlar Zarar () Dönem Zarar () KÂR Vergi Sonras Kâr Geçmifl Y l Kâr P A S F T O P L A M I

35 BALANCE SHEET BALANCE SHEET AS AT 31 DECEMBER 23 (TL IN MILLIONS) ASSETS LIQUID ASSETS Cash Checks in Collection Banks 36, ,39 31,881,646 32,149,333 47, ,245 6,142,434 6,43,37 MARKETABLE SECURITIES Securities Diminution in Value of Securities () Bonds Diminution in Value of Bonds () Investment Funds 3,775, ,729,636 3,575, ,8,872 2,35,924 (42,587) 183,711,922 (1,284,856) 2,258, ,31,3 RECEIVABLES Insured Parties Insured Parties Provision for Premium Receivables from Insured Parties () Agencies Agencies Provision for Premium Receivables from Agencies () Discount of Receivables () Receivable from Agencies Arising Compulsory Earthquake Insurance Current Accounts of Insurance & Reinsurance Companies Deposits Insurance & Reinsurance Companies Grants Current Accounts of National Disaster Insurance Association Other Receivables 8,293,995 1,292,58 (1,998,513) 145,754, ,37,555 (6,884,698) (5,398,331) 968,233 7,296,86 1,99,695 4 (1,47,59) 14,575,93 176,58,816 5,636,485 7,843,616 (2,27,131) 99,254,434 18,958,12 (5,454,175) (4,249,43) 63,491 3,296, , (654,498) 17,614,15 126,491,13 RECEIVABLES IN LEGAL FOLLOWUP Receivables in Legal Followup Provision for Receivables in Legal Followup () 2,165,398 (1,921,35) 244,93 1,358,537 (1,32,473) 56,64 EQUITY PARTICIPATIONS Equity Participations Provision for Diminution in Value of Equity Participations () Capital Commitments to Equity Participations () 25,279,859 (2,111,622) (44,) 23,124,237 25,223,896 (4,223,464) (44,) 2,956,432 FIXED ASSETS Tangible Fixed Assets Tangible Fixed Assets Accumulated Depreciation of Tangible Fixed Assets () Intangible Fixed Assets Intangible Fixed Assets Accumulated Depreciation of Intangible Fixed Assets () 3,623,444 9,863,251 (6,239,87) 17,868,433 19,81,857 (1,942,424) 21,491,877 2,86,576 6,843,61 (4,36,485) 14,231,482 15,363,16 (1,131,534) 17,38,58 OTHER ASSETS (NET) 168, ,88 TOTAL ASSETS 492,839,82 357,394,874 34

36 LIABILITIES PAYABLES Current Accounts of Insurance & Reinsurance Companies Deposits of Insurance & Reinsurance Companies Discount of Payables () Taxes & Dues Payable Other Payables 38,136,163 2,54,516 (3,87,52) 2,638,918 13,73,937 53,14,32 36,24,657 3,65,153 (4,916,916) 1,67,585 8,53,494 44,958,973 PROVISIONS A Technical Provisions Unearned Premium Unearned Premium Reinsurers Share in Unearned Premium () Outstanding Claims Provision Outstanding Claims Provision Reinsurers Share in Outstanding Claims Provision () Earthquake Claims Provision Other Technical Provision B Free Reserves Retirement Pay Provision Tax Provision Other Reserves 214,197,48 127,681, ,282,45 (34,6,591) 45,578,69 73,898,848 (28,32,779) 4,937,885 41,56,68 4,2,947 17,553,36 19,5, ,254,88 11,857,975 56,466,272 77,346,314 (2,88,42) 29,721,488 47,236,564 (17,515,76) 24,67,215 53,77,95 3,44,431 3,83,11 19,5, ,628,88 OTHER LIABILITIES Interest & Tax Accruals 395, ,392 SHAREHOLDERS EQUITY Paidin Capital Capital Unpaid Capital () Legal Reserves Extraordinary Claims Provision Other Reserves Extraordinary Reserves Revaluation Fund Special Funds Accumulated Loss () Period Loss () 8,, 8,, 8,114, 39,321,368 14,595, , ,169,763 8,, 8,, 5,159,196 5,888,98 9,83,64 332,589 11,182,947 PROFIT Profit After Tax Previous Period Profit 41,88,527 41,88,527 46,624,74 46,624,74 TOTAL LIABILITIES & SHAREHOLDERS EQUITY 492,839,82 357,394,874 35

37 GEL R TABLOSU ANADOLU ANON M TÜRK S GORTA fi RKET 31 ARALIK 23 TAR HL BA IMSIZ DENET MDEN GEÇM fi GEL R TABLOSU (M LYON TL) YANGIN NAKL YAT KAZA OTO MAL SORUMLULUK I. TEKN K GEL RLER A ALINAN PR MLER B ALINAN KOM SYONLAR C ÖDENEN TAZM NATLAR REASÜRANS PAYI D DEVREDEN TEKN K KARfiILIKLAR (NET) a) Cari Rizikolar Karfl l b) Muallak Hasarlar Karfl l c) Di er Teknik Karfl l klar E AYRILAN TEKN K KARfiILIKLARDA REASÜRANS PAYI a) Cari Rizikolar Karfl l nda Reasürans Pay b) Muallak Hasarlar Karfl l nda Reasürans Pay c) Di er Teknik Karfl l klarda Reasürans Pay F D ER GEL RLER II. TEKN K G DERLER A REASÜRÖRLERE VER LEN PR MLER B ÖDENEN KOM SYONLAR C ÖDENEN TAZM NATLAR D AYRILAN TEKN K KARfiILIKLAR a) Cari Rizikolar Karfl l b) Muallak Hasarlar Karfl l c) Deprem Hasar Karfl l d) Di er Teknik Karfl l klar E D ER G DERLER III. TEKN K KÂR/ZARAR (III) ( ) ( ) IV. GENEL G DERLER A PERSONEL G DERLER B GENEL YÖNET M G DERLER C VERG VE D ER YÜKÜMLÜLÜKLER D AMORT SMAN G DERLER E KARfiILIKLAR F D ER G DERLER V. MAL GEL RLER A FA Z GEL RLER B KÂR PAYI GEL RLER C SATIfi KÂRLARI D K RA GEL RLER E KAMB YO KÂRLARI F ZORUNLU DEPREM S GORTASI KOM SYON GEL R G D ER GEL RLER H DE ERLEME GEL RLER VI. MAL G DERLER A FA Z G DERLER B SATIfi ZARARLARI C KAMB YO ZARARLARI D KARfiILIKLAR E ZORUNLU DEPREM S GORTASI KOM SYON G DER F D ER G DERLER VII. DÖNEM KÂR/ZARAR (IIIIV+VVI) VIII. VERG KARfiILI I () IX. NET DÖNEM KÂRI 36

38 ( ) ( ) MÜHEND SL K DOLU HUKUKSAL KORUMA FERD KAZA GENEL TOPLAM

39 STATEMENT OF INCOME ANADOLU ANON M TÜRK S GORTA fi RKET STATEMENT OF INCOME FOR THE YEAR ENDED 31 DECEMBER 23 (TL IN MILLIONS) FIRE MARINE ACCIDENT MOTOR THIRD PARTY LIABILITY I. TECHNICAL INCOME A PREMIUM RECEIVED B COMMISSIONS RECEIVED C REINSURERS SHARE ON CLAIMS PAID D REVERSAL OF PREVIOUS YEAR S TECH. PROVISIONS (NET) a) Unearned Premium b) Provision for Outstanding Claims c) Other Technical Provisions E REINSURERS SHARE ON TECHNICAL PROVISIONS a) Reinsurers Share on Unearned Premium b) Reinsurers Share on Provision for Outstanding Claims c) Reinsurers Share on Provision for Other Technical Provisions F OTHER INCOME 24,469, ,233,39 16,929,77 17,41,1 12,33,345 6,588,636 5,444,79 23,114,213 9,946,146 13,168,67 118, ,94,269 87,116,664 11,96,428 7,441,51 8,965,55 4,843,985 4,121,565 12,477,991 7,959,941 4,518,5 132,126 6,866,36 33,985,78 2,828,824 7,836,292 4,432,849 1,793,71 2,639,778 11,758,726 4,389,972 7,368,754 23,637 45,489,767 27,597,325 2,989,52 3,829,885 2,311, ,54 1,323,888 8,737,53 1,8,983 6,936,547 23, ,92, ,956,817 3,796,928 12,489,84 49,989,763 34,416,792 15,572,971 14,147,289 11,454,75 2,693,214 54, ,524, ,657,411 2,945,771 8,528,723 33,196,64 22,681,467 1,514,597 8,998,23 5,626,574 3,371, ,539 77,39,937 55,568,886 2,15,351 2,312,169 14,241,118 9,365,8 4,875,318 2,754,584 2,89, ,192 12,829 46,724,31 33,436,323 1,77,31 1,362,17 8,3,524 4,987,23 3,43,321 2,179,444 1,747, ,899 8,71 II. TECHNICAL EXPENSES A PREMIUM CEDED TO REINSURERS B COMMISSIONS PAID C CLAIMS PAID D TECHNICAL PROVISIONS a) Unearned Premium b) Provision for Outstanding Claims c) Provision for Earthquake Claims d) Other Technical Provisions E OTHER EXPENSES 199,28,1 83,564,347 18,26,625 34,717,49 6,827,432 27,949,992 22,962,545 9,914,895 2,72,17 115,376,462 5,255,261 12,287,428 19,224,73 31,997,483 14,548,576 9,962,759 7,486,148 1,611,587 5,755,933 14,33,764 5,332,786 12,635,64 18,635,28 7,27,873 11,67, ,715 38,37,91 13,47,496 4,14,564 7,279,915 13,17,379 3,594,54 9,576,325 39, ,613,44 26,599,396 26,99, ,95,947 11,88,981 86,112,48 24,696,933 1,154, ,893,278 17,639,85 18,19,989 83,24,283 59,143,23 4,198,62 18,944, ,178 73,387,18 9,661,964 5,863,53 24,41,498 33,776,914 25,471,644 8,35,27 43,679 39,244,932 5,478,71 3,286,987 14,195,71 16,265,326 1,958,11 5,37,216 18,199 III. TECHNICAL PROFIT/LOSS (III) 5,261,293 12,717,87 1,11,13 7,451,866 (2,692,725) (2,368,747) 3,652,829 7,479,378 IV. GENERAL EXPENSES A PERSONNEL EXPENSES B GENERAL ADMINISTRATIVE EXPENSES C TAXES AND DUES D DEPRECIATION EXPENSES E PROVISIONS F OTHER EXPENSES V. FINANCIAL INCOME A INTEREST INCOME B DIVIDEND INCOME C SALES INCOME D RENT INCOME E FOREIGN EXCHANGE INCOME F COMPULSORY EARTHQUAKE INSURANCE COMMISSION INCOME G OTHER INCOME H VALUATION INCOME VI. FINANCIAL EXPENSES A INTEREST EXPENSES B SALES EXPENSES C FOREIGN EXCHANGE LOSS D PROVISIONS E COMPULSORY EARTHQUAKE INSURANCE COMMISSION EXPENSE F OTHER EXPENSE VII. PERIOD PROFIT/LOSS (IIIIV+VVI) VIII. TAX PROVISIONS () IX. NET PROFIT (LOSS) FOR THE PERIOD 38