Sabancı Holding announced its financial results for the third quarter of 2021. Focusing on financial sustainability with its dynamic portfolio structure since the first days of the pandemic, Sabancı Holding continued its strong performance in the first 9 months of this year.
In the aforementioned period, Sabancı Holding realized a net profit of 5 billion 773 million TL excluding non-recurring income. In the same period, it increased its consolidated net sales by 38 percent to 58 billion 971 million TL.
“36 Percent Growth in Non-bank Combined Revenues”
Sabancı Holding CEO Cenk Alper made assessments on the subject, stating that they placed emphasis on digital transformation on current businesses and thanks to the technology-focused investments they carried out in recent years they continued their strong growth despite the pandemic.
Cenk Alper continued his words, saying: “Always seeking something better, continuously trying to improve the processes is one of the essential elements of the Sabancı business culture. These successful results are its major outcomes. With our strong financial risk management approach and practices, we have once again displayed our financial resilience despite the volatility in the rates and interests. In this period we have strengthened our balance sheet by continuing to create a strong cash flow.
In the 9-month period, we have realized a 36 percent growth in nonbank combined revenues. Our industrial companies met the domestic and global demand that built up in this period perfectly, achieving very strong results. Our building materials companies also continued their high-level production outputs with their strong operational performances, while meeting customer demands solidly in spite of the setbacks in global supply chains.
In the insurance business line, Cenk Alper stated that they continued their way with Aksigorta and Agesa brands with two insurance companies and one partner in a much stronger manner and with the new structuring they have both companies under full consolidation adding, “Synergy projects between Aksigorta and Agesa to increase cooperation have begun. Within the vision of meeting the insurance needs of target consumers in an integrated manner, both companies are continuing their joint project development and strategy efforts in full force.”
He continued: “While globally increasing commodity and energy prices lead to fluctuations in the global economy, the Group companies in the energy business line kept their powerful financial structures, providing substantial contribution to our country’s economy. Meeting the ever-increasing energy demand in our country in a healthy and continuous manner has been the main priority of our energy companies in this period as well.
Our bank has increased the credit support it provided to our economy to the level of 400 billion TL in the first 9 months of 2021, 330 billion of which is in cash. Our retail business also made important contributions to our Group’s sustainable growth in this period with its technology focused investments, services and projects.”
Furthermore, focusing on new economy, Sabancı Holding began the process transferring all of its shares in Philip Morris Türkiye (25%) in line with the group promise within last month. Within this context, Philip Morris International made an application to the Competition Authority with the intent to buy the shares of Sabancı Holding in Philsa and PMSA on October 6, 2021.
“We Have Been on the Field by The Side Of Our Citizens Since Day One”
Stating that the Sabancı Group used every means available them to repair the damages caused by the environmental disasters suffered throughout the country in the summer months, Cenk Alper said: “Within the scope of our energy distribution business, we have been beside our citizens since day one, in the regions where fire and flood disasters were experienced. We have carried out the infrastructure services rapidly and took all kinds of measures to ensure that their lives were not affected extensively. We have tried to somewhat provide support by postponing the electricity bills of our citizens. Our insurance companies also prioritized the compensation of the damages in those regions.”
Historic Movement from the Sabancı Group on the 98th Anniversary of the Republic
Stating the Sabancı Group has initiated a historic movement on the 98th anniversary of the Republic Cenk Alper said, “As the Sabancı Group we have always been by the side our people, in the field, since the day of our establishment. Now, we are in the field with all our employees simultaneously, laying claim to these lands. As Hacı Ömer Sabancı said 96 years ago, when he was planting the seeds of this Group; “’Sharing what we have obtained from this land with its people,” is our foremost principle, priority.”
The “Sabancı Republic Campaign”, initiated with a press conference and volunteer activities in the Kızlarsekisi Village of the Kozan district in Adana where the Sabancı Group was founded, will continue until the anniversary of the Founder of the Republic the Great Leader Mustafa Kemal Atatürk’s death on November 10.
The campaign will be carried out in a total of 11 cities where the Sabancı Group operates, namely Adana, Aksaray, Ankara, Antalya, Aydın, Balıkesir, Bursa, Çanakkale, İstanbul, Kocaeli and Mersin.