Sabancı Holding’s consolidated sales in the first nine months increased by 17% to reach 19 billion 77 million TL

15.11.2012
  • SABANCI HOLDING’S CONSOLIDATED SALES IN THE FIRST NINE MONTHS INCREASED BY 17% TO REACH 19 BILLION 77 MILLION TL
  • SABANCI HOLDING CEO ZAFER KURTUL: “OUR OPERATIONAL PROFIT IN THE FIRST NINE MONTHS OF 2012 IS 2 BILLION 993 MILLION TL AND OUR NET PROFIT IS 1 BILLION 198 MILLION TL”
  • “SABANCI HOLDING ASSETS REACHED 15 BILLION 348 MILLION TL. WE WILL ALLOCATE OUR FINANCIAL CAPACITY TO LARGE SCALE INVESTMENTS AND USE IT TO ACCELERATE OUR GROWTH.”

zafer_kurtul_100602_orjinal.jpgSabancı Holding’s consolidated sales in the first nine months OF 2012 increased by 17% to reach 19 billion 77 million TL. In the same period Sabancı Holding's consolidated operational profit was one billion 993 million TL and net profit was 1 billion 198 million TL.

Our net profit, excluding income from Aksigorta share sales in 2011 and other one-time income-outcome items, was at the same level as the first nine months of the previous year.

However, the increase in Sabancı Holding's profitability trend accelerated in the last quarter and operational profit in the third quarter of this year increased by 30% and net profit by 22% over the same period in the previous year.

Sabancı Holding’s total assets as of September 30, 2012 are 168 billion 570 million TL, equity of the main partnership is 15 billion 348 million TL.Sabancı Holding CEO Zafer Kurtul evaluated the developments in the Group's businesses outside Akbank as follows:

-“WE UTILIZE LOCAL RESOURCES IN OUR ENERGY BUSINESS TO INCREASE THE DIVERSITY OF OUR PRODUCT PORTFOLIO”-

“At Enerjisa we aim to develop it into Turkey's leading integrated electricity company. We aim to get a 10% market share in electricity production. In power distribution our company Enerjisa Başkent Elektrik Dağıtım has a market share of 8 percent and we aim to increase our market share by acquiring companies in the distribution tenders in the future.

Electricity demand in the first nine months of 2012 has increased by 6 percent compared to the same period of the previous year. Sales of our energy companies increased by 26 percent to reach 1 billion 683 million TL. Enerjisa will have added 270 MW additional capacity in 2012 to reach a total capacity of 1.850MW by the end of the year. We utilize local resources in our energy business to increase the diversity of our product portfolio. The construction of 11 hydroelectric power plants of 1,100 MW installed power and one lignite power plant of 450 MW installed power are ongoing. These plants will enable Enerjisa to attain a balanced resource distribution.

When we complete our current projects in 2017, we will reach a production capacity of over 5,000 MW. Half of this capacity comes from renewable resources.

-“WE ARE CONSTANTLY LOOKING AT INVESTMENT AND ACQUISITION OPPORTUNITIES IN OUR CEMENT BUSINESS”-

“Despite the tough competition, we managed to increase our sales by 5% in the first nine months of the year.

Our aim in our cement business is to double our capacity through investments and acquisitions in Turkey as well as in the Balkans, North Africa and the Middle East. We aim our cement companies to make acquisitions up to 2 billion USD using their own resources.”

-“TEKNOSA CONTINUES ITS SUCCESSFUL PERFORMANCE”-

“Teknosa continued its successful performance by increasing its sales by 24 percent and maintaining its high profitability in the first nine months of 2012. Teknosa serves its customers in 280 stores.

Teknosa achieved a first in Turkish electronics retail business by joining Europe's largest electronics purchasing group Euronics in September.

Moreover, we offer a wide range of products to our clients through daily campaigns and opportunities with Sabancı reliability over our online store Kliksa which we launched this year.”

-“OUR INSURANCE COMPANIES INCREASE THEIR PROFITABILITY AS THEY GROW”-

Our insurance companies Avivasa and Aksigorta increase their profitability as they grow. Our companies continued growing by increasing their consolidated generated premiums by 33 percent in comparison with the same period of the previous year. In the same period, our companies' consolidated profit rose by 104 percent.

We foresee that the new private retirement system will positively affect savings amounts in Turkey and will drive further growth of the private retirement business. Avivasa will get its share of this growth as one of the leading companies in the business.

-“WE WANT TO FOCUS ON AREAS WHERE WE CAN CREATE COMPETITIVE ADVANTAGE IN PRODUCTION AND WE WANT TO SHIFT OUR CAPITAL TO THESE AREAS.”-

“Even though tire sales did not increase this year compared to last year in Turkey, Brisa's sales in the third quarter increased by 8% and its net profit by 20%. Brisa's share in the replacement market increased from 27 percent to 31 percent compared to the same period of the previous year.

As Sabancı Holding, we want to focus on areas in production where we can create competitive advantage and we want to shift our capital to these areas. Our priority is to invest in fast growing businesses with high returns of equity where we can differentiate ourselves with R&D, innovation and new market development potentials. In our Industry Group, we are evaluating organic growth and acquisition opportunities in parallel to our targets.”

-“PROFITABLE GROWTH REMAINS OUR MAIN FOCUS”-

Kurtul ended his evaluation with these statements: “Sabancı Holding has a strong fiscal structure with its assets over 15 billion TL, high profitability, low debt and strong risk management systems and principles. We will allocate our financial capacity to large scale investments and use it to accelerate our growth. Profitable growth will remain our main focus.

We would like to thank our employees, customers and shareholders for their support.”