Sabancı Holding's Net Profit For The Period Of 2011 Reached 1 Billion 878 Million TL

30.03.2012
  • SABANCI HOLDING'S NET PROFIT FOR THE PERIOD OF 2011 REACHED 1 BILLION 878 MILLION TL
  • SABANCI HOLDING CEO ZAFER KURTUL ELABORATES: "2011 WAS A YEAR OF GROWTH, PROFITABILITY AND INVESTMENT FOR US. WE ESPECIALLY ATTAINED A HIGH RATE OF GROWTH AND PROFITABILITY FOR OUR INDUSTRIAL, ENERGY AND RETAIL COMPANIES."
  • AS "SABANCI FROM A RISING TURKEY", WE SUSTAINED OUR INVESTMENTS WITH STABILITY TO INVEST A TOTAL OF 1 BILLION 446 MILLION TL IN 2011."
  • "OUR GOAL IS TO SUSTAIN THIS PROFITABLE GROWTH FOR THE COURSE OF 2012."

zafer_kurtul_100602_orjinal.jpgIn 2011, Sabancı Holding attained a net profit of 1 billion 878 million TL, a figure 13 percent higher than the previous year.

Sabancı Holding's consolidated financial statements for the year ending on December 31st, 2011 show a sales figure of 22 billion 408 million TL. The consolidated sales of Sabancı Holding's non-banking companies increased by 25 percent for the same period.  The consolidated operating profit accrued 4 billion 398 million TL.

The total of Sabancı Holding's entities on December 31st, 2011 reached 151 billion 114 million TL with a 16 percent increase and the holding's lead partner equity reached 13 billion 900 million TL with a 6 percent increase.

-AN ASSESSMENT BY ZAFER KURTUL-

Evaluating the results for the year of 2011, Sabancı Holding CEO Zafer Kurtul explained his opinion in his statement on the subject: "2011 was a year of growth, profitability and investment for us. Sabancı Holding sustained its rapid growth and increased consolidated sales by 15 percent compared to last year. The sales by our non-baking companies increased by 25 percent reaching 11 billion 220 million TL, along with their operating profits which increased by 136 percent to reach 1 billion 41 million TL. Our non-banking companies completed the year of 2011 with high growth and stability.

-"OUR INDUSTRIAL COMPANIES PERFORMED SUCCESSFULLY İN 2011"-

Zafer Kurtul noted that their industrial companies they increased their growth and profitability and emphasized that they increased their capacity usage rates, managed their price and raw material margins successfully, developed their product portfolio. Kurtul also noted that the group companies realized many innovative initiatives during last year with the examples of Kordsa Global's commercialization of 3 new products with their R&D center in İzmit and Brisa becoming the first company in Turkey to provide online tyre sales and services via its lastik.com.tr website. Kurtul "By utilizing these approaches, our industrial companies increased their sales by 35 percent and their operating profit by 88 percent compared to last year."

-"ENERJİSA IS NOT PULLING THE BREAKS ON INVESTMENTS"-

Kurtul added: "In order to achieve its targeted 10 percent market share in electricity generation, Enerjisa sustained its investments in 2011 as well. Enerjisa Power Generation Company increased its installed capacity to 1,653 MW by the end of 2011 by installing Hacınınoğlu and Menge Hydroelectricity Plants along with Çanakkale Wind Power Plant in 2011 following the 2010 installation of Bandırma, one of the most efficient gas power plants in Europe. With the licenses obtained in 2011, Enerjisa Power Generation Company's licenses based on renewable energy resources increased to 2,358 MW."

Noting that they have a responsibility to develop local energy resources, Kurtul added that due to the importance they attach to the subject, they started the construction for eight new power plants based on coal, hydrolic and wind energy.  Kurtul also pointed out that Enerjisa took an important step in financing its projects by signing a financing package worth 700 million Euros in 2011.

In addition to these operations regarding projects, Kurtul noted that the establishment operations for Enerjisa A.Ş. main company were completed in 2011 as per the Energy Group's vertical integration and optimization strategy and added: "Last year Enerjisa, the most well-known private energy company with a rate of 55 percent, also completed the brand conversion process for Başkent Energy Distribution Company which provides electricity services to 6.6 million people in 7 cities.

In the energy business field, our sales increased by 29 percent and our operating profit by 226 percent in 2011 compared to last year. This vast increase in our operating profits was primarily based on the high efficiency of our power plants as well as on the positive impact on stability by the hydroelecticity and wind power plants that opened in 2011."

-"WE ARE ASPIRING TO PURSUE GROWTH OPPORTUNITIES IN CEMENT"-

Kurtul affirmed that the Cement Group companies increased the Cement Group sales by 16 percent and the operating profit by 23 percent thanks to pricing improvements and more efficient operations by these companies.

He added that the challanges and high debt levels faced by many cement companies around the world create regional growth opportunities for Sabancı Cement companies and noted that they aim to take advantage of the growth opportunities nearby. Kurtul also added that they are claiming growth opportunities within the country where there is a market share of 18 percent and that Çimsa applied to the Competition Authority for approval regarding the purchase of 51% of Afyon Çimento's shares for 25 million Euros.

Zafer Kurtul continued: "Our cement companies also took important steps in sustainability in 2011. Akçansa opened the first waste heat facility in Turkey while Çimsa is getting ready to realize its ongoing waste heat investment in the second quarter of 2012. These facilities will help our companies attain critical savings in their electricity consumption."

-WE ARE PLANNING TO REALIZE THE PUBLIC OFFERING PROCESS FOR TEKNOSA IN 2012-

Kurtul elaborated: "As the unquestionable leader in the electronics retail industry, Teknosa left behind yet another quite successful year. Teknosa's sales reached 1.7 billion TL and its sales area went up to 128 thousand square meters.  Securing its leading position in the industry by acquiring US company Best Buy's affliate operating in Turkey in 2011, Teknosa will continue to claim new consolidation opportunities in the future. Our aim is to complete the 2012 initiated public offering for the growth and profitablity success Teknosa in the upcoming months.

-WE WILL SUSTAIN PROFITABLE GROWTH IN 2012-

Kurtul said that there is a common belief that worldwide growth is going to cut speed in 2012 compared to last year and added that our country is going to show a 4% growth in 2012 due to the political and economical stability. Noting that they are going to keep moving towards their goals in a persistent yet cautious manner, Kurtul concluded his words: "We will sustain our investments without pulling the breaks in 2012 as well. We will sustain our investments on the energy field in a stable manner and boost out investments in our industrial companies.  The total investment for our companies in 2012 is planned as 2 billion US dollars. As "Sabancı from a rising Turkey", we will sustain our investments to contribute to the economical development of our country.

In 2012, we will continue to value and prioritize innovation, technology and human resources. We will sustain profitable growth by focusing on target clients and markets, improving our financial control, sustaining our strategical investments and effectively managing our risks.

We would like to thank our shareholders, employees, customers and suppliers who contributed to the successful results attianed by the Sabancı Group."