Financial structure and analysis of publicly issued energy companies in Turkey

In this study; the energy sector's situation of the world and Turkey is specified and analysis is performed on the financial structure of the sector. In the financial analysis of the energy sector, published financial statements for the period 2009-2013 ratio analysis was conducted of Ak Power Generation Inc., Aksu Energy and Commerce Inc., Ayen Energy Inc. and Zorlu Power and Energy Generation Inc. which are some of the public energy companies operating in Turkey. Regarding this study; it is identified that in the fulfillment of short-term liabilities faced with liquidity problems, consideration of resource capacity is inadequate, higher rates of resource utilization of foreign equity causes financial and economic inefficiency, a high proportion of financing costs incurred adversely and highly affect the profitability. As a result of the analysis, it was determined that effective financial policies are needed. Key Words : Energy Sector, Ratio Analysis