Sabancı Holding’s Consolidated Sales Increased by 21% to TRY20,395 Million in the First Nine Months of 2014 Compared to the Same Period in 2013

10.11.2014
  • SABANCI HOLDING’S CONSOLIDATED NET PROFIT AMOUNTED TO 1,435 MILLION IN THE FIRST NINE MONTHS OF 2014.
  • SABANCI HOLDING’S CEO ZAFER KURTUL: “AVIVASA PUBLIC OFFERING THAT WE CARRY OUT IN ACCORDANCE WITH OUR STRATEGY TO OPEN OUR PORTOLIO COMPANIES TO PUBLIC IS BEING SUCCESSFULLY COMPLETED.”
  • “INVESTMENTS HAS SHOWN GREAT INTEREST IN AVIVASA PUBLIC HEARING.”

zafer kurtul 3525-300x300The consolidated revenues of Sabancı Holding amounted to TRY20,395 million in the first nine months of 2014 with an increase by 21% as compared to the same period of the previous year.

The consolidated profit of Sabancı Holding amounted to TRY1,435 million in the first nine months of 2014. In the same period, the consolidated nonbank operating profit of Sabancı Holding amounted to TRY690 million with an increase by 24% as compared to the same period of the previous year.

Total assets of Sabancı Holding increased to TRY226,888 million as of 30 September 2014, and the total consolidated capital increased to TRY18,558 million.

Sabancı Holding’s CEO Zafer Kurtul evaluated the first nine-month results of 2014 and stated the following:

-“IN ACCORDANCE WITH OUR STRATEGY TO OPEN OUR AFFILIATES TO PUBLIC, AVIVASA’S PUBLIC OFFERING IS NOW TAKING PLACE”

“AVIVASA public offering that we have carry out in accordance with our strategy to open our portfolio companies to public is being successfully completed. In the public offering of Avivasa which is one of the leading companies of the private pension sector, the demand collection process was completed and the shares received 2.8 times more demands. Investors showed great interest in Avivasa which stands out from the competition with its multiple distribution channels consisting of direct sales and corporate sales teams as well apart from the bancassurance and agencies. Following the public hearing conducted with a stock price of TRY47, the total stock value of Avivasa amounted to approximately TRY1.7 billion. We believe that the actual market value of Avivasa will become certain following the public hearing.

-“AKBANK SUSTAINS ITS GROWTH WITH ITS ASSETS INCREASING 10% COMPARED TO LAST YEAR-END.”

“In the first nine months of 2014, the consolidated net profit of Akbank amounted to TRY2,416 million. In the same period, Akbank’s assets increased by 10% as compared to the last year-end and exceeded TRY214 billion. In the first nine months of 2014, Akbank continued to support the economic growth with its cash and non-cash loans amounting over TRY165 billion.

The financing support provided by Akbank for the real sector exceeded TRY122 billion. As of the first nine months of 2014, the rate of Akbank’s loans which is 1.7% is one of the lowest for the legal proceedings.

This year as well, Akbank has been selected as the “Most Valuable Bank Brand of Turkey” for the third time in a row in the study for the “World's Most Valuable 500 Banking Brands-2014"” carried out by Brand Finance.”

-“ENERJISA FOCUSES ON OPERATIONAL EFFICIENCY IN ITS NEW DISTRIBUTION AREAS”

Kurtul also mentioned about their activities in the field of energy and stated that “One of the biggest companies of Turkey in the field of electricity distribution and retail sales, Enerjisa increases efficiency in its activities in the new distribution areas and continues to improve its profitability. We sustain our investments in Turfanbeyli Thermal Power Plant and in Bandırma Power Plant which will be the most efficient natural gas power plant of Turkey once it is completed.”

-“CARREFOURSA ADVANCES TOWARDS ITS GOALS.”

Kurtul went on his speech as follows: “Carrefoursa offers the best products to its customers at tempting prices and in the easiest manner possible. The operation profit margin of the company which was 1.6% in the first nine months of 2013 increased to 4.0% in the same period of 2014. The sales growth of the company in the same stores in the first nine months of 2014 increased by 21% compared to the same period of the previous year.”

-“OUR CEMENT COMPANIES USE THE MOST ENVIRONMENT-FRIENDLY PRODUCTION TECHNOLOGIES.”

“In the sector where the powerful domestic demand continues, our leading cement companies, Akçansa and Çimsa, increased their total net profitability by 68% in the first nine months of the year compared to the same of the previous year. Our cement companies prioritize sustainability in their business processes apart from their financial achievements and use the most environment-friendly production technologies.”

-“OUR INDUSTRIAL COMPANIES GROW IN THE EXPORT MARKETS.”

Kurtul ended his speech as follows:

“The recovery in the USA and West Europe positively affects the sales of our export-oriented industrial companies. With the contribution of the decline in the raw material costs, the operating profitability of Brisa has increased by 22% compared to the same period of the last year. Kordsa Global continues to implement strategies aimed at increasing its operational profitability and maintains its effective cost control. The operating profitability of the company which was 9.3% in the first nine months of 2013 increased to 12.3% in the same period of 2014. Yünsa continues to focus on higher value-added products and to expand its customer portfolio in the foreign markets. The sales of the company in A and A+ segments in the first nine months of 2014 have increased by 16% compared to the same period of the last year.

I would like to thank our employees, customers and shareholders for their contribution to the results we have accomplished.”