Sabancı Holding sales in first half of 2012 grow by 17% from last year to reach 12 billion 546 million TL

28.08.2012
  • SABANCI HOLDING SALES IN FIRST HALF OF 2012 GROW BY 17% FROM LAST YEAR TO REACH 12 BILLION 546 MILLION TL.
  • SABANCI HOLDING CEO ZAFER KURTUL: “OUR OPERATIONAL PROFIT IN THE FIRST HALF OF 2012 IS ONE BILLION 768 MILLION TL AND OUR NET PROFIT IS 719 MILLION TL.”
  • “ENERJISA STARTED ITS INVESTMENT IN THE TUFANBEYLI PRIVATE LIGNITE THERMAL POWERPLANT, WHICH WILL BE THE LARGEST IN TURKEY WITH ITS 450 MW INSTALLED CAPACITY. ENERJISA TOOK A MAJOR STEP IN THE PATH TO BECOME A LEADER IN ITS BUSINESS BY SIGNING THE LOAN AGREEMENT WORTH 750 MILLION EUROS FOR THE FINANCING OF THE PROJECT.”

CEOSabancı Holding's consolidated sales in first half of 2012 grow by 17% from last year to reach 12 billion 546 million TL. In the same period Sabancı Holding's consolidated operational profit was one billion 768 million TL and net profit was 719 million TL.

Total assets of Sabancı Holding reached 156 billion 533 million Turkish Liras and equity of the main partnership reached 14 billion 677 million Turkish Liras as of June 30, 2012.

Sabancı Holding CEO Zafer Kurtul's assessment of these business developments are as follows:

- “WE HAVE FINALIZED THE FINANCING OF TURKEY'S LARGEST PRIVATELY OWNED LIGNITE THERMAL POWERPLANT”

“Demand for electricity in the first half of 2012 increased by 8% over the same period in the previous year. Our energy company's sales rose by 28% to reach 1 billion 28 million TL.

Our investments in energy are running according to plan. We started operations at the 39MW-capacity Dağpazarı Wind Power plant in May. We finalized the 12-year financing worth 750 million Euros of the Tufanbeyli Thermal Power plant, which will help reduce Turkey's energy imports that are the largest items in the current deficit of the country. Tufanbeyli will be Turkey's largest privately owned lignite thermal power plant with its 450 MW capacity and will utilize locally produced lignite coal. Enerjisa has once more shown that it can obtain funds for its projects in these challenging finance market conditions.”

-“WE CONTINUE FOCUSING ON SUSTAINABILITY IN OUR CEMENT BUSINESS”

“Our cement companies successfully remedied the negative impacts of bad weather conditions in the first quarter and reached the same sales volumes at the end of the first half of the year as the same period of the previous year.

We continue our efforts on sustainability in the cement industry which has high energy consumption and carbon release levels. We put the Waste Heat Recycling Facility at Çimsa Mersin Plant in operation in April. This facility will cut carbon emissions by 30 thousand tons per year and will save 60 million kWh energy per year”.

- “TEKNOSA CONTINUED ITS SUCCESSFUL PERFORMANCE AFTER THE PUBLIC OFFERING”

“Teknosa continues its successful performance after the public offering. It increased its sales by 29% and net profit by 14% in the first half of the year. It also increased its sales area by 23%.

Teknosa is the undisputed leader of its business and has recently signed a consulting agreement with HSBC to seek and assess potential acquisition opportunities in the industry”.

-“KORDSA GLOBAL SIGNED A 10-YEAR STRATEGIC SUPPLY AGREEMENT WITH MICHELIN”

“Kordsa Global signed a 10-year strategic supply agreement with Michelin, one of the top 5 tire manufactures in the world. The agreement involves the supply of cord fabric for Michelin's airplane tire business, where the company is the leading provider in the world. This agreement reinforced Kordsa Global's leading position with its long-term relationships with its customers, investments in technology and high product quality”.

-“SABANCI HOLDING MANAGES ITS RISKS ON ITS PATH TO PROFITABLE GROWTH”

Kurtul ended his assessment by saying: “Sabancı Holding shines out with its stable management and financial strength in an environment of concerns about growth in the global economy. Sabancı Holding puts a lot of attention in risk management on its path to profitable growth with its high liquidity and low currency risk position”.