Elektrik Enerjisi Sektörünün Finansal Performanslarının Oran Analizi Yöntemi İle İncelenmesi
Analysis of the Financial Performances of the Electric Energy Sector Using the Ratio Analysis Method

Summary/Abstract: Purpose – This study aims to evaluate the financial performance of enterprises engaged in the production and distribution of energy in the electricity sector in Turkey between the years 2015-2019. Design/methodology/approach – In this study, secondary data were used and a qualitative research method was employed. The research sample consisted of 8600 enterprises operating in the sub-sector of electrical energy generation, transmission, and distribution. The data on the electricity sector was obtained from the financial tables which were sent to the Central Bank of Turkey (CBRT) by the companies voluntarily and published on the official website of the CBRT and made ready for analysis. The obtained data were analyzed by the method of ratio analysis. Findings – As a result of the analysis, it was determined that the liquidity ratios of the electrical energy sector between 2015 and 2019 were below the generally accepted standard ratios, and long-term bank loans were used to finance the sector's assets. Also, It was determined that the collection period of the receivables in the sector is constantly increasing, the sector was not able to use its assets effectively in general, the sector made a loss in the operating periods between 2015 and 2018, and a profit in 2019, albeit at a low rate. Discussion – According to the findings of the study, it is necessary for the sector managers to determine the right financing policies for the payment of debts in the sector and to make decisions following these policies, to arrange the contracts during the emergence of the receivables, to use the assets effectively and to examine the income items to increase profitability.

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