In line with our “Sabancı of New Generation” vision, despite the challenging economic conditions of 2018, we generated a long list of achievements at Sabancı Group thanks to our goal-oriented efforts, the strength we draw from our culture, and our trust in our country.
Esteemed Investors, Business Partners and Valuable Employees,
2018 went down in history as a year of monumental changes and challenges for the entire world. From the Brexit debate to trade wars, shrinking liquidity to developments in Syria and our region, this was a period of constant tension. We envisage that the impact of these events will reverberate into 2019.
Turkey was affected by these developments to varying degrees and, domestically, our country experienced significant political changes and problems. Recently, we observe a more positive trend in macroeconomic indicators as a result of measures taken, and a correction and stabilization appear to have commenced across the economy.
However, at the micro-economic level, that is, in daily life, we will unfortunately continue to feel these negative effects for quite some time. The fight against inflation has always been a challenge. But our country will surely overcome today’s challenges just as it has overcome those of the past.
What is more important for our country, as we manage our present day, is to take the necessary steps to avoid similar difficulties in the long-term. We must resume reforms in the economy and social infrastructure while shifting to a period of production-driven growth. Coming all together, we as a nation should launch a new development drive with a focus on technology, value-added production and export-oriented growth model. We must develop our new growth model according to current global conditions and competitive environment.
In line with our “Sabancı of New Generation” vision, despite the challenging economic conditions of 2018, we generated a long list of achievements at Sabancı Group thanks to our goal-oriented efforts, the strength we draw from our culture, and our trust in our country. The IPO of Enerjisa Enerji went down in history as Turkey’s largest private sector IPO ever and was oversubscribed nearly five-fold. Akbank spearheaded the first syndication loan in the sector after a period of economic volatility, leading the way for the entire banking sector. The decision to increase Akbank’s capital was another important step in strengthening our bank and moving forward with confidence. In the field of composites, a new generation business, Kordsa acquired three facilities in the USA. These key acquisitions made us a strategic supplier to the aerospace and aviation industries. Together with SabancıDx restructuring, we strive to become a role model in Turkey’s digital transformation, just like in any other businesses that we operate.
At Sabancı Group, we have never stopped investing in our business or our country. We have invested a total of USD 20 billion over the last decade. In all of our businesses we continued our operations with focus on value creation for all our stakeholders and in accordance with our long-term perspective. We took steps to further enhance the competitive edge of our Group, and our country, in the industries of the future. As a result, we closed the year with pioneering and exemplary achievements, as always.
In 2019, we as Sabancı Group will continue to do what we know best: working and producing for our country.
I would like to extend my gratitude to our employees, business partners, customers and stakeholders for their contribution to our successful results in 2018.
Chairman and Executive Member