MEHMET GÖÇMEN, THE CEO OF SABANCI HOLDING: “WE ACHIEVED SUCCESSFUL RESULTS THANKS TO OUR EFFECTIVE RISK MANAGEMENT AND STRONG CASH-GENERATING CAPACITY”
The consolidated sales of the Sabancı Holding increased by 24 % in the first three months of 2018 according to year on year figures and reached 11 billion 322 million TRY. The net profit from the consolidated primary participations of the Sabancı Holding increased by 59 % in the first three months of 2018 according to the year on year figures and totaled 1 billion 66 million TRY.
Sabancı Holding increased its operational profitability in the first three months by 26 % and brought it up to 2 billion 569 million TRY mark. The total assets of Sabancı Holding reached up to 363 billion 726 million TRY as of the first three months of 2018 and total equity owned by the consolidated primary participations was 27 billion 49 million TRY.
Mehmet Göçmen, the CEO of Sabancı Holding, made a statement relating to the matter and said: “As Sabancı Group, we completed the first three months with positive results thanks to our flexible and active management approach and capacity to adapt to the current circumstances. We achieved these fruitful financial outputs through our effective risk management and strong cash generating capacity. In February, we carried out the largest public offering of the Turkish private sector with Enerjisa worth 1.5 billion TRY and also reached the targets of our industry and cement companies. In the upcoming period, we will continue to grow focusing on the technology throughout our transformation process that we define as the Sabancı of New Generation. In this sense, our companies have started working on ways of assuring further integration of advance analytic into our processes. Furthermore, we continue to review all human related processes of our Group for the cultural transformation that is one of the most strategic milestones of our new roadmap. We are going to continue creating value for our stakeholders by managing all our operations based on requirements of corporate governance and high performance culture.”
“AKBANK PROVIDED TOTAL LOAN SUPPORT OF 278 BILLION TRY TO THE TURKISH ECONOMY”
Mehmet Göçmen talked about the banking operations and said; “The assets of Akbank, which celebrates the 70th anniversary of its establishments this year, marked a total of 348 billion TRY in the first three months of 2018. Akbank increased its deposits by 4.8 % in comparison to the end of last year, and exceeded the mark of 211 billion TRY; during the same period, Akbank retained, as tax provisions, an amount of 482 million TRY out of its gross profit amounting to 2 billion 176 million TRY and earned net consolidated profit of 1 billion 694 million TRY. Furthermore, it provided total loan support of 278 billion TRY to the Turkish Economy, 225 billion TRY of the amount was cash credit. The support provided by Akbank to the real sector by offering loans has increased by 5.6 percent this year and totaled 175 billion TRY.”
“WE REACHED OUR ENERGY SECTOR TARGETS”
Mehmet Göçmen also mentioned the energy operations of the Group and underlined its strong cash generating capacity in this business segment. Mr. Göçmen noted that Enerjisa’s strong Q1 performance in 2018 brought them one step closer to their targets and added; “Enerjisa Energy increased its consolidated operating profit by 67 % according to the year on year figures. When the first quarter ended, the amount of net profit was 243 million TRY and thus we have achieved our midterm growth target for the period between the years of 2016 and 2020.”
Mr. Göçmen stated that they focus on reducing the debt level of the energy generation segment. He explained that they have taken a significant step for improvement transparency and corporate governance in the sector through the first public offering made in Turkey in the electricity distribution and retail sector and added; “We are preparing for a new public offering in our energy segment with the resource obtained from the public offering of Enerjisa Energy. In this way, we are aiming to set yet another successful example for our country”. “Last year, Enerjisa Generation completed all its projects by commissioning all of its installed capacity of 3.607 MW and it focuses on operational excellence in 2018. Thanks to this focus, the company has achieved successful performance exceeding its first quarter budget through availability assured at its stations despite the 25 % increase of the natural gas prices since December, increasing uncertainties and low levels of rain” said Mr. Göçmen.
“GROWING POTENTIAL IN THE FOREIGN INDUSTRIAL MARKETS”
Mr. Göçmen highlighted that the Industry Group had high performance in the first three months and added; “We commissioned industrial facilities. The foreign markets, particularly European market which has been the largest customer of Turkey, have been recovering. The global economy is at the best level of the previous period. We are trying to increase our share in this positive atmosphere”.
“HIGH DEMAND IN THE CEMENT SECTOR”
Mr. Göçmen pointed out that the cement companies of Sabancı Holding stand out in the sector with innovative products and services and added; “the high demand and ongoing investments in Turkey as well as the impact of our efficiency carry the sector to the better levels”.
“THE INSURANCE SECTOR IS PROMISING”
“The number of assets in Turkey increases and this increases the number of assets to be insured. We can see that the insurance market has been gradually and sustainably growing. This creates a promising atmosphere for Sabancı Holding, a major player of the Turkish insurance sector” said Mr. Göçmen about the insurance sector.
“GOALS OF THE RETAIL BUSINESS ARE A MULTI-CHANNEL SYSTEM AND BEST CUSTOMER EXPERIENCE”
Mr. Göçmen also commented on the retail sector and said; “We observe that our stores are more appealing to our customers and customer satisfaction has increased. The number of visitors per store has increased and we continue to make multi-channel system investments. We strive to offer the best customer experience in the retail sector”.