Sabancı Holding's Net Income for 2010 was TRY 1.663 Billion

01.04.2011
  • SABANCI HOLDING'S NET PROFIT FOR 2010 HAS RISEN TO TRY 1.663 BILLION
  • SABANCI HOLDING'S CEO MR. ZAFER KURTUL: "2011 WILL BE A YEAR OF INVESTMENT FOR US. IN 2011 WE ARE EXPECTING HIGH RATES OF GROWTH, ESPECIALLY IN OUR ENERGY AND INDUSTRIAL COMPANIES"

In 2010, Sabancı Holding realized a net profit of TRY 1.663 billion, a 32% increase over the previous year.

According to Sabancı Holding's consolidated financial statements for the year ending 31 December 2010, total recorded sales were TRY 19.541 billion while operating profit increased by 21% over the previous year to a total of TRY 4.194 billion.

Sabancı Holding's total assets increased by 16% as compared to the previous year to reach TRY 130.060 billion as at 31 December 2010, with its consolidated participation equity capital growing to TRY 13.069 billion, a 19% increase.

-MR. ZAFER KURTUL'S ASSESSMENT-

zafer_kurtul_100602_orjinal.jpgSabancı Holding's CEO Mr. Zafer Kurtul expressed his views in a statement:

"Sabancı Holding's net profit for 2010 rose to TRY 1.663 billion, a 32% increase over the previous year. Our total assets increased by 16% with respect to the previous year, to reach TRY 130.060 billion as at 31 December 2010, with our consolidated participation equity capital growing to TRY 13.069 billion, a 19% increase.

Our total assets exceeded TRY 13 Billion, an indication of the Sabancı Group's strong financial structure that will support the Sabancı Group's growth during the upcoming period.

In 2010, the consolidated sales of our non-financial (real) sectors increased by 17%. On the other hand, the operating profits of our non-financial sectors grew to TRY 362 million, a 289% increase over 2010.

The sales of Başkent Electricity Distribution A.Ş., which we took over during 2009, increased 19% during 2010. In the same period, we realized sales increases of 15% in our Cement Group, 10% in our Retail Group, 25% in our Rubber and Reinforcement Group and 12% in our Automotive Group.

The Sabancı Group companies' market value now comprises 11% of the İstanbul Stock Exchange's total market value. The market valuation of Sabancı Holding is TRY 14.609 billion (USD 9.434 billion).

-OUR COUNTRY IS PROGRESSING VERY SUCCESSFULLY -

Turkey is one of the five countries that attract the most foreign investors. This is due to many factors, including its low levels of private and public sector indebtedness, its banking sector's strong financial structure, its high growth rates, a young population, general political stability and its advantageous geographical location. However, we must not only maintain the gains that we have achieved so far, but make best use of them. By making sound investments and financing these investments in an appropriate and rational manner we can sustain our country's growth.

Last year, our country, after quickly and successfully coping with the effects of the global crisis, became one of the world's most rapidly growing economies with an 8.9% growth rate.

Our country's developing economic environment continues to have a positive influence on the performance of the Sabancı Group companies.

- WE WILL CONTINUE GROWING HEALTHFULLY THROUGH 2011-

For us, 2011 will be a year for investments: investments that will contribute to our country's economy. Our investments in our Energy and Industry companies will accelerate. In 2010, our Group Companies' investments totaled USD 1.1 billion, though our total investments are planned to rise to USD 2 Billion for the 2011 year. Being environmentally sensitive is a priority for us in all of our investments. Overall, the Sabancı Group works to maintain its sustainable growth.

In 2011, our priority will be innovation and the use of these innovations to increase both our profitability and our productivity.

We thank our all our employees, clients and suppliers who have contributed to the Sabancı Group's successful results.