05.11.2021

Koç Holding Posts 223.6 Billion TL in Consolidated Revenue and Makes Combined Investment of 11.1 Billion TL in the First Nine Months of 2021
 

8 min

KOÇ HOLDİNG CEO LEVENT ÇAKIROĞLU: 

"AT KOÇ GROUP, WE CONTINUE TO CREATE VALUE FOR OUR COUNTRY EVEN IN CHALLENGING TIMES THANKS TO A ROBUST BALANCE SHEET, HIGH LIQUIDITY, EXTENSIVE SUPPLY CHAIN AND CONTINUOUS INVESTMENTS. OUR HUMAN RESOURCES, DIGITAL COMPETENCIES, AGILE MANAGEMENT APPROACH AND DEALER NETWORK GIVE US THE STRENGTH WE NEED. AS WE ALWAYS SAY, WE ARE CONFIDENT IN THE FUTURE OF TURKEY AND CONTINUE OUR INVESTMENTS WITH DETERMINATION. AS AN INDICATOR OF THIS, OUR COMBINED INVESTMENTS REACHED A TOTAL OF 49 BILLION TL IN THE LAST FIVE YEARS. IN THE FIRST NINE MONTHS OF THE YEAR, WE ACHIEVED SUCCESSFUL RESULTS IN ALL INDUSTRIES OF OPERATION. HOWEVER, FOR KOÇ GROUP, SUCCESS IS MUCH MORE THAN FINANCIAL RESULTS. WE FOCUS ON ENHANCING OUR TECHNOLOGICAL AND INNOVATIVE CAPABILITIES AND IMPROVING OUR COMPETITIVENESS. WE LAUNCHED THE CARBON TRANSITION PROGRAM, AN INTEGRAL PART OF OUR CULTURAL TRANSFORMATION PROGRAM. WE WERE THE ONLY COMPANY TO REPRESENT TURKEY THIS YEAR IN THE FORTUNE GLOBAL 500. ADDITIONALLY, FOUR OF OUR COMPANIES WERE ONCE AGAIN INCLUDED IN THE TOP 10 OF THE TURKISH EXPORTERS ASSEMBLY'S SURVEY OF THE TOP 1000 EXPORT COMPANIES OF TURKEY. WE ALSO TAKE PRIDE IN REPRESENTING TURKEY YET AGAIN ON THE FORBES WORLD'S BEST EMPLOYERS LIST. I AM PROUD TO SEE THE NATIONAL AND GLOBAL RECOGNITION FOR OUR ACHIEVEMENTS, AND I WOULD LIKE TO THANK OUR COLLEAGUES, DEALERS AND SUPPLIERS FOR MAKING ALL OF THIS POSSIBLE."
 
Koç Holding posted 223.6 billion TL in consolidated revenue and made combined investment of 11.1 billion TL in the first nine months of 2021. Commenting on the financial results, Koç Holding CEO Levent Çakıroğlu said: “At Koç Group, we continue to create value for our country even in challenging times thanks to a robust balance sheet, high liquidity, extensive supply chain and continuous investments. Our human resources, digital competencies, agile management approach and dealer network give us the strength we need. As we always say, we are confident in the future of Turkey and we continue our investments with determination. As an indicator of this, our combined investments reached 11.1 billion TL in the first nine months of the year, adding up to a five-year total of 49 billion TL. However, for Koç Group, success is much more than financial results. We focus on enhancing our technological and innovative capabilities and improving our competitiveness. We launched the Carbon Transition Program, an integral part of our Cultural Transformation Program. Sustainability has always been on our agenda but now we will manage in a much more systematic and ambitious manner thanks to our Carbon Transition Program."
 
Levent Çakıroğlu: "We continued our strong performance across all industries."

Levent Çakıroğlu stated that Koç Group maintained its strong performance across all industries of operation in the third quarter of 2021. Noting that they continue to see the positive results of Arçelik's major acquisitions during the pandemic, Çakıroğlu said: "We are starting to see the financial results of partnering up with Japan-based Hitachi Global Life Solutions for the new joint venture company, Arçelik Hitachi Home Appliances, and of acquiring the washing and machine plant in Manisa from US-based domestic appliance manufacturer Whirlpool. We are also pleased to see that Arçelik's Refrigerator Plant in Eskişehir has been included among the World Economic Forum's "Global Lighthouse Network", which recognizes the world’s leading manufacturing facilities in utilizing Industry 4.0 technologies, following in the footsteps of the Washing Machine Plant in Romania.”
 
Highlighting that Koç Group's automotive companies continued working towards their production goals in the third quarter, despite the ongoing disruptions in the global supply chain, Levent Çakıroğlu said: "As the leading company and export champion of the Turkish automotive industry, we are proud to see that Ford Otosan has developed Turkey's first domestically-produced transmission with an investment of €58 million. Thanks to the Ecotorq transmission, the domestic production rate is now at 90 percent for the heavy commercial vehicles manufactured in Eskişehir by Ford Trucks, the heavy commercial vehicle brand of Ford Otosan. Meanwhile, Ford Otosan has also become one of the global truck manufacturers to develop and produce its own engine, transmission and rear axle. I would like to thank all colleagues who contributed to this significant achievement.”
 
Levent Çakıroğlu added: "In this period, Tofaş maintained its market leadership with the Fiat brand, while Otokar continued to secure major national and international contracts. Türk Traktör maintained its leading position in the domestic tractor market. As the largest refinery company in Turkey, Tüpraş accelerated its production in the third quarter of 2021 and continued to meet a significant portion of Turkey's energy demand. Maintaining its robust balance sheet, Tüpraş achieved a capacity utilization rate of 96 percent in the third quarter. Meanwhile, Aygaz increased its domestic sales tonnage and maintained its position as the market leader in the third quarter, while also boosting its trading and export volumes. In the banking industry, Yapı Kredi continued to increase its contributions to the Turkish economy. Contributing a total of 465 billion TL to the national economy in the third quarter, the bank continues its efforts within the scope of its digitization strategy. Taking a big step in line with this strategy, Yapı Kredi announced the establishment of a new fintech company with a capital of up to 100 million TL, which will operate in the new lines of business that will be created through digital channels. Yapı Kredi also secured syndicated loans worth $360.5 million and €396.5 million with the participation of 38 banks from 19 countries. Adding up to $822 million, this sustainability-linked loan will be used to finance foreign trade."