Sabancı Holding, which continues its investments in Turkey and abroad and successfully progresses towards its medium-term goals with its new economy-oriented global growth strategy, announced its financial results for 2023 with inflation accounting applied. While Sabancı Holding increased its combined sales by 6 percent to 811.1 billion TL in 2023, the Holding's consolidated net profit was 15.4 billion TL.
Evaluating the issue, Sabancı Holding CEO Cenk Alper said, “Global financial uncertainties, high inflation environment and geopolitical tensions continued to limit visibility in the world economy throughout the past year. On the other hand, on February 6, we experienced an earthquake disaster that is unique in the history of Turkey and even the world.
During this process, while supporting our local people, we also continued to be on the field with all our teams to provide uninterrupted service in public services, especially our energy business line. "In light of these developments, we have seen once again that difficulties and uncertainties are now an indispensable part of our business," he said.
“OUR STRONG BALANCE SHEET IS FOR NEW LARGE INVESTMENTS "IT INCREASES OUR APPETITE"
Prioritizing Sabancı Group's balance sheet quality in such a challenging period; Underlining that it acts with an approach that makes agility, adaptation and flexibility a company culture, Cenk Alper said, “With inflation accounting, our bank and financial services companies, which by nature have a high net monetary asset position in their balance sheets, have exhibited a downward financial performance in terms of net profit due to the high monetary losses incurred.” . However, with our strong cash flow and solid non-bank equity profitability, we increased our Holding cash position to the highest level in history on an annual basis, while keeping the combined bank and non-insurance Net debt/EBITDA ratio at 0.8x. "This situation increases our appetite for new large investments," he said.
“ ARTIFICIAL INTELLIGENCE AND CLOUD TECHNOLOGIES FOCUS AREAS ”
Reminding that they established the Digital Group Presidency within the Holding in 2023, Cenk Alper said, “In this business line, while strengthening our cyber security and digital marketing competencies, we will also focus on new growth platforms such as artificial intelligence and cloud technologies. "We will also continue to take steps to position SabancıDx as a service provider, to transform Teknosa, which continues its multi-channel growth, into a completely digital identity, and to further strengthen Carrefoursa's digital competencies, having achieved great success in its light asset-focused growth strategy," he said.
Cenk Alper said that they see digital as the driving force of scaling and continued:
“Among Akbank's 2.3 million net active customer growth last year, over 60 percent of the total new customer acquisition was achieved through digital. Digital is not limited to efficiency and cost improvements; It is the clearest indication that there is a business culture that opens new horizons for all companies for rapid and high-quality growth. On the other hand, one of the prerequisites for digitally focused thinking is to embrace the right ideas. In this regard, the number of funds and startups we have invested in since 2020 has exceeded 30. In addition, Sabancı Teknoloji, which will host Çimsa and Kordsa within Sabancı Holding in 2023
We implemented the Center in Germany.”
Adding that they have taken important steps in sustainability in the past year, Cenk Alper said: “In our energy business line, we have increased the installed power of Enerjisa Üretim to 3,792 MW with our renewable energy investments. Last year, we produced approximately 600 kilograms of hydrogen in the Hydrogen Valley, which was implemented by Enerjisa Üretim in Bandırma. In order to carry our experience in renewable energy to international markets, we are realizing our second solar energy investment in the USA in Texas. With the implementation of the 232 MW solar power plant, for which we signed the agreement, our solar energy investments in the USA will reach 500 MW. After Europe's first electric intercity bus, Temsa signed an R&D agreement with the Portuguese company CaetanoBus to implement Turkey's first hydrogen-fueled intercity bus. We increased the capacity of our electric vehicle charging stations, which cover 43 percent of Turkey, by approximately 3 times to 5,379 kW in 2023. On the other hand, Kordsa's establishment of the polymer compounding business unit and Çimsa's calcium aluminate cement (CAC) investments were important indicators of our determination to grow in the field of sustainable materials.”
“WE WILL CELEBRATE OUR 100TH ANNIVERSARY NEXT YEAR”
"We are particularly proud and happy to have realized all these investments, which provide great support to the economic development of our country, on the 100th anniversary of the Republic of Turkey," said Cenk Alper and continued his words as follows:
“The only way to protect the legacy left to us by the Great Leader Mustafa Kemal Atatürk is to work hard. With this understanding, we carried out the third Sabancı Republic Mobilization, which we started in 2021 and quickly turned into Turkey's largest social responsibility movement, under the leadership of our Sabancı Volunteers. We have carried out 8 main projects and more than 1,000 events focusing on education and development. Within the scope of our Sabancı Republic Mobilization activities, we launched the Sabancı Hatay Incubation Center in Hatay, one of the provinces most affected by the earthquake disaster, with the cooperation of Habitat Association and Brisa, Kordsa, Temsa and Teknosa. As a Group that will celebrate its 100th anniversary next year, we will continue to glorify the values of the Republic and Ataturk with new investments, projects and practices that we will undertake in the coming period.”
STRENGTHENING ITS FOCUS ON ADVANCED MATERIALS AND MOBILITY WITH ITS NEW STRUCTURING
On the other hand, Sabancı Holding, which prioritizes the expansion of its main businesses and new growth platforms in line with its strategic priorities, has made an organizational change that will strengthen its focus on future goals. In this context, "Construction Materials" and "Industry" strategic business lines were restructured as "Material Technologies" and "Mobility Solutions". With this change, Sabancı Group companies Akçansa, Çimsa and Kordsa operate their activities under the Material Technologies group; Brisa, Temsa Skoda Transportation Vehicles and Temsa Motor Vehicles will operate under the Mobility Solutions group.
Within the scope of the changes that will be effective as of April 19, 2024, Burak Orhun, who currently serves as Sabancı Holding Construction Materials Group President, will be appointed as Sabancı Holding Material Technologies Group President, while Sabancı Holding Industry Group President Cevdet Alemdar will serve as Sabancı Holding Mobility Solutions Group President. . While the new organizational structure will support the Sabancı Group to focus on new economy-based business models, it will also make significant contributions to the Sabancı of the World vision.
