Sabancı Holding’s Quarterly Consolidated Operating Profit has risen to TRY 1.088 billion.

13.05.2011
  • SABANCI HOLDING'S QUARTERLY CONSOLIDATED OPERATING PROFIT HAS RISEN TO TRY 1.088 BILLION.
  • SABANCI HOLDING'S CEO ZAFER KURTUL: "DURING 2011, THE PROFITABILITY OF OUR OFF-BALANCE SHEET COMPANIES HAS INCREASED AS PLANNED"
  • "OUR STRONG FINANCIAL STRUCTURE WILL SUPPORT THE SABANCI GROUP'S CONTINUED GROWTH OVER THE COMING PERIOD"

zafer_kurtul_100602_orjinal.jpgTo 31 March 2011, the sales recorded by Sabancı Holding's quarterly consolidated financial statements increased by 10 percent over the same period during 2010, reaching TRY 5.329 billion; operating profits rose to TRY 1.088 billion, net profits are now TRY 401 million and total off-balance sheet industry sales increased by 30 percent.

Sabancı Holding's total assets have risen to TRY 131.084 billion as of 31 March 2011, and the group's consolidated participation equity capital is now recorded as TRY 13.021 billion.

- ZAFER KURTUL'S ASSESSMENT

Sabancı Holding's CEO Mr. Zafer Kurtul talked about these results. "Our operating profit during the first quarter of 2011 is recorded as TRY 1.088 billion while our off-balance sheet companies' operating profits have increased by 171 percent as compared to the same period of last year. We have managed to increase the operating profits of all of our off-balance industries, as planned.

Looking at the operating profits in our different corporate sectors: in our retail sector these increased by 185 percent, in the energy sector by 364 percent, Rubber, Logistics and Automotive by 120 percent and Cement by 9 percent.

Our equity capital now totals over 13 billion Turkish Lira, reflecting both the growth and the strong financial structure of the Sabancı Group. Our strong financial structure will support the Sabancı Group's continued growth over the coming period.

We remain active in energy investments. In the first months of 2011 the Hacınınoğlu Hydroelectric and the Çanakkale Wind Power Plants both came into production. By focusing on renewable energy resources, we are investing in Turkey's energy future.

The Sabancı Group aims to invest USD 2 billion during 2011.

The companies of the Sabancı Group comprise11 percent the IMKB's total market value. At 31 March 2011, the market value of Sabancı Holding had risen to TRY 14.650 billion (USD 9.536 billion)."

-"OUR NATIONAL ECONOMY HAS MADE VERY SUCCESSFUL PROGRESS"

"Turkey continues to be the region's role model for stable and rapid growth. Our bank's solid and dependable financial structures, our low debt ratios, our young population and our balanced but diverse industrial structure all provide us with an environment favorable for sustainable growth."

-"2011 IS THE YEAR FOR GROWTH AND MAKING A DIFFERENCE"

"For us, 2011 will be a year of investment and growth due to our operational efficiencies, our profit & growth oriented companies and the investments made in - and the rapid growth returned from - our energy companies. As a group, we pursue new business units that have a high potential for both growth and for the creation of value. Sabancı Holding, with our strong human resources and our solid financial structure, will continue to be a part of Turkey's bright future.