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24.02.2007 - FRANKFURTER ALLGEMEINE ZEITUNG
FRANKFURTER ALLGEMEINE ZEITUNG Sabanci Holding Gearing Up
STRONG GROWTH IN THE ENERGY SECTOR
Scope of business of the Sabanci Holding is significantly large: Consisting of 34 companies, the conglomerate operates in the fields of banking, automotive, textiles, energy, food and retail trade as well as chemistry. The Holding employs 52,000 personnel.
ISTANBUL, 23rd February. Sabanci Holding A.S has increased in 2006 its consolidated turnover by approx. 21 percent to 17 billion Turkish Liras (9.4 billion euros). This was announced in Istanbul by Ahmet Dördüncü, CEO of the second biggest group of companies of Turkey. For 2007 he projects that the turnover will increase to 20 billion liras, representing a growth of 18 percent. In 2006 the turnover of the companies of the Holding, which did not belong to the finance branch, is estimated to have grown by 22 percent, and reached 8.4 billion liras. The Holding will report its net profit to the Istanbul Stock Exchange. 34 companies belong to the Sabanci Holding, in the branches of banking, automotive, textiles, energy, food and retail trade, as well as chemistry. It has 52,000 employees. The Istanbul Stock Exchange assesses the current market value of the Holding as 7.7 billion dollars.
The plans of the Holding for 2007 are based on the prediction that the gross domestic product will increase about 5 percent to 430 billion dollars, and that the per capita income to 5,817 dollars. In 2006 the Turkish economy grew by about 5.4 percent. Dördüncü stated that they had invested 550 million dollars in 2005, and 660 million in 2006, and that their investment volume this year will be 900 million dollars. Beside cement, another lion’s share will be allotted to energy. In 2007, the investments started last year will be continued as a priority, and integration of the newly acquired companies will be consummated. Dördüncü announced new acquisitions and “aggressive growth” for the energy field.
Dördüncü stated that a total joint investment of 6.5 billion dollars is planned in the construction of new power stations and in the privatisation of power distribution, after the signature of the cooperation agreement between Enerjisa and Verbund, the largest power company of Austria, last December. The goal is to achieve a share of 10 percent in the Turkish power market by year 2010. It is the energy sector that was the main focus of growth already in 2006. Enerjisa acquired the coal deposits of Tufanbeyli, and plans to establish there a 450-megawatt power station. Enerjisa has also secured the right to acquire the coal deposits of Horasan in the vicinity of Erzurum.
Güler Sabanci, Chairperson of the Sabanci Holding, confirmed the interest of Akbank in Halkbank which is to be privatized. The Turkish government does not want to sell Halkbank, however, as a block to a single investor. Even if the government does not change its mind again, Akbank, the flagship of the Holding, will still remain interested. The Holding seeks strategic partners for its textile enterprises Bossa and Yünsa, stated Sabanci. As a matter of fact, both enterprises are very profitable and distribute high dividends. However, partners are necessary to be able to resist the competition from Asia in the medium term. The Holding sold its company Advansa, which operates on products such as PET and PTA in Europe, to La Seda of Barcelona, Spain, against 320 million euros.
Dördüncü said that the Holding wants to invest further in the field of cement. The expansion investments started last year with an allocation of 150 million dollars to the Canakkale plant, and 75 million to Eskisehir. Exports of the companies of the Holding amounted to 1.2 billion dollars in 2006, representing an increase by 9 percent.
Scope of business of the Sabanci Holding is significantly large: Consisting of 34 companies, the conglomerate operates in the fields of banking, automotive, textiles, energy, food and retail trade as well as chemistry. The Holding employs 52,000 personnel.
ISTANBUL, 23rd February. Sabanci Holding A.S has increased in 2006 its consolidated turnover by approx. 21 percent to 17 billion Turkish Liras (9.4 billion euros). This was announced in Istanbul by Ahmet Dördüncü, CEO of the second biggest group of companies of Turkey. For 2007 he projects that the turnover will increase to 20 billion liras, representing a growth of 18 percent. In 2006 the turnover of the companies of the Holding, which did not belong to the finance branch, is estimated to have grown by 22 percent, and reached 8.4 billion liras. The Holding will report its net profit to the Istanbul Stock Exchange. 34 companies belong to the Sabanci Holding, in the branches of banking, automotive, textiles, energy, food and retail trade, as well as chemistry. It has 52,000 employees. The Istanbul Stock Exchange assesses the current market value of the Holding as 7.7 billion dollars.
The plans of the Holding for 2007 are based on the prediction that the gross domestic product will increase about 5 percent to 430 billion dollars, and that the per capita income to 5,817 dollars. In 2006 the Turkish economy grew by about 5.4 percent. Dördüncü stated that they had invested 550 million dollars in 2005, and 660 million in 2006, and that their investment volume this year will be 900 million dollars. Beside cement, another lion’s share will be allotted to energy. In 2007, the investments started last year will be continued as a priority, and integration of the newly acquired companies will be consummated. Dördüncü announced new acquisitions and “aggressive growth” for the energy field.
Dördüncü stated that a total joint investment of 6.5 billion dollars is planned in the construction of new power stations and in the privatisation of power distribution, after the signature of the cooperation agreement between Enerjisa and Verbund, the largest power company of Austria, last December. The goal is to achieve a share of 10 percent in the Turkish power market by year 2010. It is the energy sector that was the main focus of growth already in 2006. Enerjisa acquired the coal deposits of Tufanbeyli, and plans to establish there a 450-megawatt power station. Enerjisa has also secured the right to acquire the coal deposits of Horasan in the vicinity of Erzurum.
Güler Sabanci, Chairperson of the Sabanci Holding, confirmed the interest of Akbank in Halkbank which is to be privatized. The Turkish government does not want to sell Halkbank, however, as a block to a single investor. Even if the government does not change its mind again, Akbank, the flagship of the Holding, will still remain interested. The Holding seeks strategic partners for its textile enterprises Bossa and Yünsa, stated Sabanci. As a matter of fact, both enterprises are very profitable and distribute high dividends. However, partners are necessary to be able to resist the competition from Asia in the medium term. The Holding sold its company Advansa, which operates on products such as PET and PTA in Europe, to La Seda of Barcelona, Spain, against 320 million euros.
Dördüncü said that the Holding wants to invest further in the field of cement. The expansion investments started last year with an allocation of 150 million dollars to the Canakkale plant, and 75 million to Eskisehir. Exports of the companies of the Holding amounted to 1.2 billion dollars in 2006, representing an increase by 9 percent.
