09.05.2019

Koç Holding Posts 34.3 Billion Try Consolidated Turnover In The First Quarter Of The Year And 779 Million Try Consolidated Net Profits For The Parent Company In The Same Period

7 min

Koç Holding Ceo Levent Çakiroğlu: “At Koç Group, We Continue To Work Diligently With A Global Vision, Aiming To Create Long-Term Value. We Successfully Performed Our Operations And Maintained Our Strong Balance Sheet Despite The Challenging Conditions Seen In The First Quarter Of 2019. Our Successful Eurobond Issue Reflects The Trust That Investors Have Placed In Our Country And In Koç Holding. The Combined Investment Of 1.5 Billion Try In The First Quarter Of 2019 Is The Biggest Indication Of Our Belief In Our Country.”
In the first quarter of 2019, Koç Holding generated consolidated revenues of 34.3 billion Turkish lira and a net profit of 779 million Turkish lira for the parent company. Koç Holding CEO Mr. Levent Çakıroğlu evaluated the financial results of the first quarter of 2019: “We successfully continued our operations despite the challenging conditions in the first quarter. We achieved superior financial results thanks to our disciplined management approach, balanced portfolio and strong balance sheet. While managing short-term fluctuations in the best possible way, we continue to invest in technology, innovation and human resources in line with our long-term goals.”
Levent Çakıroğlu: “We are excited about our new investment decisions.”
 “In the first quarter of the year, we continued our investments tirelessly to increase our global competitiveness. In this way, we once again affirmed our trust in our country. Our long-term investments contribute to our Group’s financial results,” said Levent Çakıroğlu, stating that the Group had made a combined investment of 1.5 billion Turkish lira. Çakıroğlu continued: “We decided to produce Egea until 2024. Egea was launched by Tofaş in 2015 with $1 billion of investment and soon became the global Fiat model. This way, we have secured the production of the Egea family until 2024. We expect to invest approximately $225 million by the end of 2020. Additionally, Ford Otosan is getting ready to produce a hybrid version of the Transit Custom and Tourneo Custom models at its Kocaeli plant. And Tüpraş kick-started the maintenance and improvement operations of its Fuel Oil Recycling Facility. This marks the biggest one-time investment in our country’s history.
Levent Çakıroğlu: “To achieve our global vision, we have progressed with determination and reassured investors.”
Highlighting their committed progression in the first quarter of the year in light of their global vision, Levent Çakıroğlu added: “Arçelik has made another major investment as part of its leadership strategy across the countries along ‘the One Belt One Road’ also called ‘New Silk 2 Road.’ It has acquired Singer Bangladesh, one of the biggest players in Bangladesh’s consumer durables market. Aygaz has also established a partnership with United Group for the sale and distribution of LPG in Bangladesh.” Underscoring the 6-year Eurobond issue worth $750 million in March, Levent Çakıroğlu said: “Our Eurobond sale has once again confirmed the confidence of foreign investors in our country and in Koç Holding. This allowed us to maintain our strong balance sheet as we continued to increase our liquidity. In the first quarter, Yapı Kredi successfully issued $650 million worth of bonds as a form of supplementary equity finance with the contribution of the main shareholders and the strong demand of international investors. This marks the first dollar-denominated additional Tier 1 capital borrowing performed by a Turkish deposit bank through the bond issuance with foreign market participation. Our Bank sustained its focus on supporting the economy and asset quality in the first quarter of 2019, while maintaining a healthy balance sheet.”
 Levent Çakıroğlu: “We have been honored to receive innovation awards.”
 Levent Çakıroğlu stated that Vehbi Koç Foundation, which recently celebrated its 50th anniversary, will continue to contribute to the social development in our country through the investments and services in education, healthcare and culture. He added: “As part of the Innovation Week held by the Turkish Exporters’ Assembly, Tüpraş received the ‘Innovation Strategy’ award thanks to its corporate culture that supports innovation and entrepreneurship. Moreover, Arçelik has developed innovative and smart technologies at its 17 R&D centers in different parts of the world and made us proud by receiving R&D Leadership Special Award. We were also delighted to learn that Koç Innovation Program was awarded the ‘Best Intrepreneurship Program’ at Turkey’s Entrepreneurship Awards, which was held by the Union of Chambers and Commodity Exchanges of Turkey, Özyeğin University, Endeavor and Startup magazine to recognize the companies currently leading the start-up world. At Koç Group, human resources are the key to all of our achievements. As we always say, the keystones of our strategy include expanding our global presence, increasing our competitiveness, improving our technological and innovation capabilities, and creating powerful brands.”
 

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