With an Increase of 30 Percent, Sabancı Holding's Consolidated Net Profit for Nine Months has been realized as 1 Billion 538 Million TL.

04.11.2011
  • WITH AN INCREASE OF 30 PERCENT, SABANCI HOLDING'S CONSOLIDATED NET PROFIT FOR NINE MONTHS HAS BEEN REALIZED AS 1 BILLION 538 MILLION TL.
  • SABANCI HOLDING CEO ZAFER KURTUL SAID: "CONSOLIDATED NET PROFIT OF OUR OFF BALANCE COMPANIES HAVE INCREASED BY 183 PERCENT ON 2011."
  • AS TURKEY'S SABANCI, WE CONTINUE TO INVEST IN THE GROWTH OF OUR NATION IN A DECISIVE MANNER. DURING THE FIRST 9 MONTHS OF 2011, WE INVESTED OVER 850 MILLION TL."
  • "DUE TO THE NEGATIVE INFLUENCE TO BE CREATED ON THE BANKING INDUSTRY BY THE INCREASED AMOUNT OF PUBLIC DEBTS AT EU COUNTRIES IN PARTICULAR, WE BELIEVE THE RISKS WILL INCREASE AS WELL, AND PUT EMPHASIS ON RISK MANAGEMENT."

zafer_kurtul_100602_orjinal.jpgIn comparison with the first nine months of 2010, Sabancı Holding's consolidated sales for the same period of 2011 have increased by 18 percent to reach 16 Billion 440 Million TL by the date of September 30th, 2011. On the other hand, consolidated sales of off balance companies for Sabancı Holding increased by 34% as well in the same period. For the first nine months of the year, Sabancı Holding generated 3.5 Billion TL of consolidated activity profit. Sabancı Holding net profit has been realized as 1 Billion 538 Million TL. Compared to the same period of the last year, net profit of the off balance companies have increased by 183 percent.

Making a statement about the subject, Sabancı Holding CEO Zafer Kurtul said: "Sabancı Holding continued to grow even faster than the economy for the first nine months of 2011. Thanks to our client focused efforts and increasing productivity, consolidated activity profit of our off balance companies have increased by 268 percent in comparison to the same period of the last year, and net profits have increased by 183 percent. It is very satisfactory that off balance companies have increased share on our profitability."

-"THE SUCCESSFUL PERFORMANCE OF OUR INDUSTRIAL COMPANIES IS POSITIVE IN RESPECT OF BOTH OUR GROUP AND OUR NATION"

Stating that they achieved a strong sales volume through client oriented strategies of industrial companies, Sabancı Holding CEO Zafer Kurtul said: "they achieved a sales volume and increased their sales by 68 percent, and their net profit by 172 percent".

Kurtul continued with the following statement: "The reasons for the significant increase on the profitability of our industrial companies include capacity utilization rates, new product development and commercialization, improvements on the product range, and successful management of price - raw material balance. Having increased during the third quarter, EUR/TL exchange rate has influenced our profitability positively as well. We would like to continue growing with new investments to be implemented at our industrial companies."

-"UNDER THE HELM OF ENERJISA, WE ARE CREATING THE LARGEST PRIVATE COMPANY OF TURKEY ON ELECTRICITY PRODUCTION AND DISTRIBUTION"-

Kurtul continued with the following statement: "By September 30th 2011, our activity profit on the energy area is higher by 463 percent in comparison to the same period within the last year. The main elements on the increase of our operational profit include the productivity rate we achieved at Bandırma electricity production plant, which is one of the most productive natural gas plants worldwide, as well as the activation of our productivity, hydroelectricity and wind plants. 

Enerjisa holds an objective of 10 percent market share on electricity production. Within the scope of this objective, we continue to invest in the energy area. On year 2011, we obtained four new consumable energy production licenses for 870 MW. During the first months of 2011, we began to operate Hacınınoğlu hydroelectricity plant and Çanakkale wind plant; and we will operate Menge hydroelectricity plant at the last quarter. Thus, our established power capacity will be 343 MW at the end of the year, and this capacity will form 21 percent of our existing power portfolio.

By the end of the year, we aim to establish Enerjisa helm company. Enerjisa company will own our production commerce and distribution companies."

-"FOR THE FOLLOWING PERIOD, WE AIM TO TAKE ADVANTAGE OF THE INVESTMENT OPPORTUNITIES WE COME ACROSS AT THE NEARBY REGION"-

Indicating the increased capacity utilization rates and regional pricing fluctuations within national cement industry on 2011, Zafer Kurtul stated that Sabancı Holding has increased the activity profit in this business area by 32 percent, in comparison to the same period of the last year. Kurtul said: "In alignment with the energy efficiency sustainable growth strategy, Sabancı Group operated the first waste heat plant of Turkey at Akçansa Çanakkale Factory by September. With this plant, Akçansa aims to save on the electricity costs by 30 percent".

Noting that Sabancı Group is currently leading the Turkish cement industry with a clinker capacity share of 18 percent with Akçansa and Çimsa, Zafer Kurtul stated that they will take advantage of the growth opportunities at the nearby regions, as well as at foreign locations in the near future.

-"TEKNOSA IS THE STAR OF OUR RETAILING GROUP"-

Zafer Kurtul said: "At the electronic retailing industry, our leading company Teknosa has increased its sales by 26 percent within the first nine months of the year. By including 30 thousand m2 additional area on the retailing region within 2011, we aim to achieve a total area of 130 thousand m2 by the end of the year. In addition to increased number of stores, Teknosa has acquired a strong sales increase like 11 percent at the existing stores as well.

Having acquired the USA Best Buy's Turkish affiliate on 2011, Teknosa aims to take on an active role on the new purchase activities as a leading company within a market where consolidation is inevitable due to the existing competitive environment."

-"AKSİGORTA AND AVİVASA HOLD A GOOD POTENTIAL TO GROW"-

"Our insurance companies have doubled their net profitability and excelled this achievement even further in this period. We see a great growing potential in both of our companies."

-"IN THIS PERIOD, RISK MANAGEMENT IS SIGNIFICANT FOR US IN PARTICULAR"-

Indicating that high amount of public debts in European Union countries constitute significant risks, Sabancı Holding CEO Kurtul said: "Public bonds elevate the risks and some of them generate the risk of default, which in turn create economical and political instabilities. This situation raises high amounts of capital requisition within the European banking system in particular. As the uncertainty continues within the markets, Turkey continues to hold a stable balance on both political and economical platforms. With a strong banking industry, positive budgeting balances, internal market dynamics and low levels of public and individual indebtness, we expect that our nation will be influenced by the negative events less. With its strong financial structure and risk management, Sabancı Holding will continue to stand a safe harbor and a decisive investor in a global turbulent environment."