Türkiye Kömür İşletmelerine (TKİ) bağlı Güney Ege Linyit İşletmelerinin üretim maliyetlerinin yıllar itibarıyla değişiminin ve mali yapısının analizi

Abstract

Türkiye Kömür işletmelerine (TKİ) Bağlı Güney Ege Linyit işletmeleri (GELi) müessesinde yapılan bu çalışmada, müessesenin giderleri birimler ve yıllar itibarı ile karşılaştırmalı olarak incelenmiş, üretim maliyatlarine giderlerin birim katkıları belirlenmiştir. Çalışmanın müessesenin mali yapısı ile ilgili olan kısmında müessesenin mali yapısı oran analizleriyle incelenmiş ve müessesenin mali yapısı ortaya konulmuştur. Sonuçta ise müessesenin içinde bulunduğu ekonomik durum topluca değerlendirilmiş ve uygun görülen öneriler sunulmuştur.

In this study, the yearly cost changes and unit cast of production in GELI. (South Egean Ligint Undertaking) which is an establishment of Turkish Coal Enterprises are investigated. The financial structure of the establishment has been investigated using ratio analyses and the econonic structure of the establishment was analyzed. This study can be summarized under the following headlines: Production method The production of coal is made outside Soke with open-pit mining. In these open- pits high capacity work mashines are used. The system of open-pit is "excavator + true + dragline". The overburden layer is carried out with excavator +. true system after a hole and exploding it. 25 meter of the overburden layer which is carried out with dragline In this firm 48.380.000 tons caal is produced and 164.214.000 m3 overburden is made between the years 1984 and 1991. The total sale of coal is 47.801.000 tons between these years. XI 1 Personel position In this firm ther Bre works and meraurs who are employed. And every year new employments are made. The detailed montly personel costs, social cost and other costs for those persons are given in this study between the years 1985 and 1991. the montly personel cost of this firm for one person is incresed paralel with the new employments. The personel cost is incresed V. 2277 for 1991 acording to 1985. Total Cost The total cost of this firm (fist elements, materials, personal costs, depresiation, taxes and etc.) is increased X 2444 for 1991 according to 1985. The unit cost was 2533 TL in 1985, but in 1991 it i; 20858 TL. It is increased 7. 823 according to 1985. Financial Structure To make rational decision is keeping with the objectives of the firm, the financial maneger must have certain analitical tools. The company itself and outside suppliers of capital all under take financial analysis. The firm purpose is not only internal conrol but also better understanding of what capital suppliers seek in financial condition and performance form it. The type of analysis varios according to the specific interests of the party involved. Trade creditors are interested primarily in the liguidity of a firm. Their claims are short term, and the ability of a firm to pay these claims is best judged by means of a thorough analysis of its liquidity. The claims of bondholders, on the other hand, are long term. Accordingly, they are more interested in the chas-flow ability of the firm to service debt over the long run. The bondholder may evaluate this ability by analyzing the capital structure of the firm, the major sources and uses of funds, its profitability over time, and projections of futur profit ability. Xlll Uses of Financial Ratios To evaluate the financial conditio and performance of a firm, The financial analyst needs certain yardsticks. I he yardstick frequenly used is a ratio, or index, relating two pieces of financial data to each other. Analysis and interpration of avarios ratios should qive experienced, skilled analysts a better understanding of tje financial condition and performance of the firm than they would obtain from analysis of the financial data alone. Trend Analyses The analyses of financial ratios involves two type of comparision. First, the analyst can compare a present ratio with past and expected future ratios for the same company. The current ratio for the present year end could be compared with the current ratio for the preceding year end. When financial ratios are arrayed on a spreadsheet over a period of years, the analyst can study the composition of change and determine whether ther has been an improvement or adeteriation in the financial condition and performance over time. Financial ratios also can be computed for projected, or praforma, statements and compared with present and past ratios. In the comparisions over time, it is best to compare not only financial ratios but also the raw figures. Comparision with Others The second method of comparision involves comparing the ratios of one firm with those of similar firms or with industry averages at the same point in time. Such a comparision gives insight into the relative financial condition and performance of the firm. Financial ratios can be derived from the balace sheet and the income statement. They Are categorized XIV into four types: Liquidity, Dept, Praftability and Coverage. Each type has a special use far the financial analyst. These ratios are also helpful for capital expect in financial condition and performance. By themselves, financial ratios are fairly meaningless; they must be analyzed on a comparative basis. A comparison of ratios of the same firm over time uncovers leading clues in evaluating changes and trends in the firm's financial condition and profitability. The comparison may be historical and preditxve. It may include an analysis of the futur based on projected financial statements. Ratios may also be judged in comparison with those of similar firms in the same line of business and, when appropriate, with an industry average caution is necessary in shuch comparisons, because the distributions of financial ratios for companies in an industry vary a good deal the financial analyst must heed other caveats and be avare of various sources of industry financial ratios information. In this study, the financial structure of the establishment has been investigated using ratio analyses A ratio analysis of the GELI most recent financial statements is presented next. Table 1. contains a summary its ratios by categories. The financial reports which is surced by the ratios above, we can say that this firm is going bad by the financial side. The reason of in sufficiency of this firm by the financial side is because the investments are made by using external sources, but in the last years, the increase of worth, the decrease of own ratios between in the balace sheet, the increase of financial sufficiency, increase of profit ratios. The increase in the speed of leverage ratios are the positive developments for financial structure ofthis firm. XV Table 1. GEL I Summary Ratios Ratios 1991 Liquidity ratio (Current ratio) Current assets/Current liabilities 733 Efficiency ratios Wort/Liabilities 68 Net fixed assets/Assets 13 Net fixed assets/Wort 31 Operating income/Capx tals 25 Opera ting income/Worth 24 Profitability ratios Gros profit/Sales 15 Net operating income/sales 17