Sabancı Holding announced its financial results for the first half of 2020, with a 15 percent increase in net profit in the first six months of this year, corresponding to 2.2 billion TL. Sabancı Group's consolidated sales were recorded as 27.4 billion TL in the same period.
Noting that these financial results were achieved during the period of the coronavirus (Covid-19) pandemic, the effects of which are severely felt around the world, Sabancı Holding CEO Cenk Alper said, “We are pleased that the financial execution has been successful in the second quarter, as it was the case in the first quarter of the year. We started 2020 with a strong balance sheet, a balanced portfolio and low level of debt. These factors played an important role in weathering the storm during the difficult pandemic period. As demonstrated in our financial results, we continue to manage Covid-19 related issues with a strong balance sheet. "We will continue to create value for our stakeholders by preserving our focus on cash management and business sustainability in the remainder of the year."
Mr. Alper continued: “The initiatives that we have taken in all industries were concluded successfully. From the perspective of industrials, our renewable energy investments, which were realized in line with our priority placed on sustainability in energy, stand out. In the building materials industry, the impact of strong exports had a positive impact on our financial results. We have compensated the challenges in export markets with our strong footprint in the domestic market. Moreover, in financial services and retail, we improved our performance through our long-standing investments in digitalization.
Of course, beyond all, we set the health of our employees and their families as our number one priority in this period by strictly following all health-related precautions and measures. We owe a debt of gratitude to all of our colleagues who successfully fulfilled their responsibilities by working devotedly in spite of challenging conditions. Thanks to our advanced technology approach, sustainability-focused initiatives, and robust human resources, we, as Sabancı of Turkey, will continue to produce and strive to maximize the value for all our stakeholders in the coming period.”
- INTERNATIONAL SUCCESS IN SUSTAINABILITY
Even before the pandemic, we were conducting our activities with a vision of growth by focusing on creating value for all our stakeholders. We have established our strategy based on the goal of creating value — not only for our shareholders, but also for our employees, customers, society, and for all institutions and organizations we are connected with. We have promised that we will observe our responsibilities with a focus on sustainability in all our activities, by prioritizing environmental and climate-change initiatives, which are also a part of our long-term strategy. The pandemic period once again demonstrated the importance of this issue. In terms of sustainability, we know that Sabancı Holding differentiates itself from all competitors, and can lead even further.
In a recently published international report, it was that Sabancı Holding has a prominent position in the region in terms of ESG (Environmental, Social and Governance Sustainability) owing to its ESG-related investments. Sabancı Holding is among the 5 companies preferred in Eastern Europe, Middle East and Africa (EEMEA) region with potential to attract more equity investors in terms of ESG investments. Our corporate volunteering program, Sabancı Volunteers, was selected as the best case from Turkey by the United Nations. In the first half of the year, Brisa has been selected the CDP Climate Leader for the 4th time. It was also the only company from Turkey among the global leaders in the "Supplier Engagement Rating" category that was evaluated for the first time this year. These international achievements prove that we are on the right track.