Consolidated Net Income of Sabancı Holding For 2013 was TL 1,731 Million

07.03.2014
  • SABANCI HOLDING’S CEO ZAFER KURTUL: “HAVING ACHIEVED THE GROWTH OBJECTIVES IN 2013, SABANCI HOLDING CONTINUED TO CONTRIBUTE TO THE TURKISH ECONOMY.

zafer kurtul-1024x768In 2013, the consolidated revenues of Sabancı Holding has increased by 15% over 2012, exceeding TL 24 billion.

For the same period Sabancı Holding’s consolidated operational profit was TL 4,859 million; and its net income was TL 1,731 million .

Sabancı Holding’s total assets as the end of 2013 was TL 206 billion and its consolidated shareholders’ equity exceeded TL 17 billion.

Sabancı Holding’s CEO, Zafer Kurtul, expressed his thoughts on the results for the year 2013

“In 2013, global economic growth failed to meet expectations. The growth rate has been realized as 3 percent, around the same level with 2012. During May, capital flows began to leave the developing markets as Federal Reserve (US Central Bank) announced that monetary expansion shall be suspended gradually, and the reversed flow made the situation even more difficult for Turkey, which financed its high current deficit with foreign capital. Also since June, gradually strained political tension caused a high rate of increase on currency exchange rates as well as the interest rates. Triggered by the depreciation in Turkish Lira, inflation rates increased as well.  In this period, Sabancı Holding achieved its growth objectives for 2013, and sustained its contribution to the economy of our country.

Having welcomed 1.350 new employees in our ranks in 2013, our total number of employees has reached up to 59 thousand people, which allows us to contribute on the national employment as Sabancı Group. Furthermore, with almost TL 4 billion of fixed asset investments in total, we continued to contribute on the employment as well.

Reviewing important developments that allowed us to complete the year 2013 in success, we see Enerjisa, acquiring the distribution areas of Toroslar and AYEDAŞ during the privatization process, with an amount around 3 billion USD. Those are the largest acquisitions in the history of Sabancı Group. With those acquisitions, our market share in the electricity retail market has increased to 20 percent. Having raised its installed capacity above 2,500 Megawatts, Enerjisa became the largest integrated energy and distribution company in Turkey. Thanks to our 12 hydro-electricity and 3 wind plants that are in operation, we a make positive contribution to the reduction of the current account deficit, which is very curicial for our country.

Furthermore, we took over the management of Carrefoursa, by acquiring its majority shares. With our local know-how, experience and strong management team, our primary objective is to provide our clients excellent service. Opening up new stores in Carrefoursa, our aim is to increase our total turnover by two fold within the next three years.

As Sabancı Group, our main strategy is to achieve the sustainable growth of our companies, and to contribute to the economy of our country, by ensuring that our companies are creating the most value in their sectors. In 2014, we will focus our efforts inline with this strategy.

The greatest share in our success rests with our employees. I express my gratitude to our employees, customers and shareholders for their support in achieving the successful results.”.