Sabancı Holding Increases Sales by 12% in the First Quarter of 2012

18.05.2012
  • SABANCI HOLDING INCREASES SALES BY 12% IN THE FIRST QUARTER OF 2012.
  • SABANCI HOLDING CEO ZAFER KURTUL: "OUR OPERATIONAL PROFIT IN THE FIRST QUARTER OF 2012 IS TL784 MILLION AND NET PROFIT TL296 MILLION"
  • "WE MADE OUR FIRST PUBLIC OFFERING AFTER 13 YEARS WITH TEKNOSA. WE WILL CONTINUE WITH MORE PUBLIC OFFERINGS IN THE FOLLOWING TERMS"
  • "WE HAVE FAITH IN OUR COUNTRY'S POTENTIAL AND DYNAMISM, AND CONTINUE OUR INVESTMENTS. WE HAVE BUDGETED 2 BILLION USD FOR INVESTMENTS IN 2012"

zafer_kurtul_100602_orjinal.jpgConsolidated sales of Sabancı Holding in the first quarter of 2012 grew by 12% to reach 6 billion 66 million TL. In this period Sabancı Holding achieved double-digit growth in consolidated sales figures in its banking and non-banking businesses.

In this period Sabancı Holding's operational profit in the first quarter of 2012 was TL784 million and net profit TL296 million.

Total assets of Sabancı Holding reached 154 billion 666 million Turkish Liras and equity of the main partnership reached 14 billion 386 million Turkish Liras as of March 31, 2012.

In his evaluation of the first quarter results of 2012, Sabancı Holding CEO Zafer Kurtul said: "our countries growth slowed in the first quarter of 2012 as anticipated. Despite this slowdown, Sabancı Holding increased its first quarter sales by 12% compared to the same period in the previous year. Despite the loss of electricity generation caused by the natural gas shortages in January and February and the negative impact of bad weather conditions on the cement industry, our operational profit for the first three months was TL784 million and net profit TL296 million."

Sabancı Holding focuses on managing its currency risk in way to minimize its impact in this environment of global uncertainty. For this reason, Sabancı Holding had only TL23 million as net exchange rate profit in the first three months of 2021 as the Turkish Lira gained value."

-KURTUL: "WE MADE OUR FIRST PUBLIC OFFERING AFTER 13 YEARS WITH TEKNOSA"-

Zafer Kurtul continued by saying: "Teknosa grew by 29% in 2011 and continued this by growing 18% in the first quarter of 2012 compared to the same period in 2011. As the leader in electronics retail market with a market share of 43%, Teknosa maintained its fast growth trend while retaining a high rate of profitability.

Teknosa completed the public offering process with flying marks. There were more than twice the number of bids for the shares than the offering and 11.5% of the whole company was sold to the public with some additional sales. 55% of this offering went to individual investors in Turkey; 9,744 individual investors bought Teknosa shares. Through this public offering, many Teknosa customers are now also shareholders. The income from Teknosa's public offering will be used in Sabancı Holding investments. We want to offer Avivasa, Enerjisa and Diasa to the public in the coming years.

-"WE CONTINUE TAKING CONCRETE STEPS IN DEVELOPING OUR ENERGY INVESTMENTS"-

Zafer Kurtul continued his evaluation by saying: "Energy demand continued increasing in the first quarter of 2012. Our energy sales in the first three months of the year were 21% higher than the same period in the previous year. However, the natural gas shortage in Turkey caused loss of production in our power plants and had a negative impact on our operational profitability. This, however, was temporary. Our operational results in our Energy Group will be much better in the following periods.

We continue taking concrete steps in our energy investments. We signed the financing package worth 135 million Euros for the Bares Wind Power plant, which will be Turkey's largest with it's 142.5 MW capacity when competed, in April."

-"WE STARTED IMPLEMENTATION OF OUR GROWTH PLANS IN CEMENT WITH THE ACQUISITION OF AFYON CEMENT"-

"Bad weather conditions slowed down construction industry and infrastructural investments in the first quarter of 2012, which had a negative impact on our cements sales. We aim to compensate for the loss amount in the rest of 2012 and aim to increase our end-year profitability in 2012 compared to last year.

We maintain our target of doubling our cement production capacity by 2015. Towards this capacity, Çimsa signed the agreement to acquire 51% of Afyon Cement for 57.5 million TL on February 15, 2012. The Competition Board approved the acquisition on April 12, 2012.

Both Akçansa and Çimsa keep looking for opportunities to strengthen their regional positions."

-"OUR INDUSTRIAL COMPANIES INCREASED THEIR SALES BY 9% COMPARED TO LAST YEAR "-

"We continue our investments to ensure the growth of our industrial companies that operate with high capacity use rates. We plan to make investments worth 275 million USD in our industrials group, focusing mainly on Kordsa and Brisa."

- "WE CONTINUE OUR PROFITABLE GROWTH STRATEGY IN 2012"-

Kurtul ended his evaluation by saying: "We continue our profitable growth strategy in 2012. We aim to increase our consolidated sales by over 10% in 2012 compared to last year. As ‘Sabancı of Growing Turkey' we will continue to create value for our shareholders, increase our customers' satisfaction and grow profitably by managing our risks.