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Sabanc Holding's Consolidated Revenues Reach 13.48 Billion TL in The First Half of 2014, Up 25 Percent Year-On-Year

August 20, 2014



ENP Newswire - 20 August 2014

Release date- 15082014 - Sabanc Holding's consolidated revenues rose by 25 percent to 13.48 billion Turkish liras year-on-year in the first half of 2014.

In the same period, the holding posted consolidated net profit of 979 million Turkish liras and non-bank consolidated operating profits of 465 million Turkish liras, with a 35 percent rise year-on-year.

Sabanc Holding's total assets reached 220.39 billion Turkish liras and total consolidated shareholders' equity 18.27 billion Turkish liras as of June 30, 2014.

Sabanc Holding CEO Zafer Kurtul assessed the results of the first half of 2014: 'AKBANK MAINTAINED HEALTHY GROWTH AS THE NUMBER OF CUSTOMERS SOARED TO 13 MILLION.'

'Akbank posted consolidated net profits of 1.61 billion Turkish liras in the first half of 2014. The bank's assets increased to 209 billion Turkish liras and cash and non-cash loans to 157 billion Turkish lira at the end of the period. Financial support provided to the non-financial sector surpassed 85 billion Turkish liras. Akbank's of non-performing loans ratio is among the lowest in the industry at 1.6 percent, thanks to its healthy growth.

Furthermore, through effective use of the bancassurance channel, Akbank continued its strong collaboration with our insurance companies in the financial services field.'

'AVIVASA'S ASSETS UNDER MANAGEMENT SURPASSED 6 BILLION TL WITH A 34 PERCENT INCREASE'

'The private pension industry is making a significant contribution to improving the savings ratio in our country. The assets under management of Avivasa, one of the leader companies in the private pension sector, has surpassed 6 billion Turkish liras in the first half of 2014, up 34 percent year-on-year. Avivasa's net contributions also increased by 24 percent in the same period, exceeding the growth rate of the sector.

Aksigorta grew over the sector average by achieving a 24-percent increase in gross premiums in the first six months of the year.'

'THE ARKUN HYDROELECTRIC POWER PLANT OF ENERJISA STARTED OPERATING.'

Kurtul continued as follows: 'Enerjisa increased its installed capacity to 2,800 megawatts by adding to its portfolio of operational assets the Arkun hydroelectric power plant, with an installed capacity of 237 megawatts.

Enerjisa stands as one of Turkey's largest companies in the electricity distribution and retail business, and it has made significant progress in terms of operational efficiency in its distribution regions. In May, the company's capital was increased by 900 million Turkish lira so as to strengthen its financial structure.'

'PROFITABILITY IS GROWING STRONGLY AT CARREFOURSA.'

'Following Sabanc Holding's takeover of the management at Carrefoursa, progress on the profitability and growth-focused turnaround process is successfully maintained.

The company's sales went up by 23 percent year-on-year in the first six months of 2014. Same store sales growth reached 21 percent in the same period.'

'OUR CEMENT COMPANIES MAINTAIN STRONG PROFITABILITY WHILE ALSO TAKING ADVANTAGE OF GROWTH OPPORTUNITIES'

Akcansa and Cimsa, cement companies of Sabanc Holding, improved their profitability by 115 percent in the first half of the year compared to the same period last year.

'In keeping with our growth objectives in the cement sector, Cimsa made an agreement to acquire all of the shares of the 1.1 million ton clinker-capacity Sancim Bilecik Cimento for $221 million. Cimsa's clinker capacity will rise to 6.6 million tons after the completion of the acquisition.'

'OUR EXPORT-FOCUSED INDUSTRIAL COMPANIES ARE GROWING IN OVERSEAS MARKETS.'

Kurtul concluded as follows: 'Brisa posted net profit of 81 million Turkish liras with a 47 percent rise in the first half of the year, thanks to increased domestic market share and exports. In the same period, Kordsa Global raised its net profit to 55 million Turkish lira, up from 2 million Turkish liras last year, as a result of effective cost control and recovery in global markets. Yunsa maintains profitable growth by increasing the share of high value-added, premium segment products in total sales to 70 percent in the first six months of the year.

Contact:

Tel: + 90 (0212) 385 80 80

Fax: + 90 (0212) 385 88 88


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Source: ENP Newswire


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