ANALYSIS OF THE FINANCIAL STRUCTURE OF THE ENTERPRISES IN THE ELECTRICITY SECTOR IN TÜRKİYE’S FIRST TOP 500 INDUSTRIAL ENTERPRISES LIST DURING THE ECONOMIC CRISIS AND COVID-19 PERIODS:1998-2023

Authors : Emine Şule Aydeniz

Pages : 192-203

View : 68 | Download : 70

Publication Date : 2024-12-25

Abstract :Due to the importance of electricity in the economy and social structures of the people, it is important that the financial structures of the enterprises in the electricity sector are strong. The aim of this study is to determine whether the financial structures of the enterprises operating in the electricity sector in the ISO 500 Large Enterprises List are strong during the economic crisis and covid 19 periods. For this purpose, financial ratios between 1998-2023 were calculated and analysed. The financial ratios used in the study are pre-tax return on sales, pre-tax return on equity, pre-tax return on assets, ROI, equity turnover, asset turnover, equity ratio, financial leverage, financing ratio, export ratio, gross value added per employee (GVA per employee) and net sales per employee (NPS per employee). The financial structures of enterprises in the electricity sector showed a negative trend during the crisis and covid 19 periods between 1998 and 2023. Apart from these periods, the financial structures of enterprises deteriorated especially in 2005, 2017 and 2018. Although the borrowing ratio decreased in 2023, and the CFFR and CBNS increased, other financial ratios showed negative changes. Since most of the sources of electricity generation are imported, the possibility of cash shortages in the future increases when exchange rate increases are taken into account. Therefore, foreign exchange risk management should be emphasized in effective financial management. Enterprises in the electricity sector can pass the crisis periods in a healthy way by strengthening their financial structures.
Keywords : Financial Analyses, Electricity Sector, Economic Crises, Covid-19

ORIGINAL PAPER URL