Koç Holding Posts 183.8 Billion TL in Consolidated Turnover and a Combined Investment of 10.7 Billion in 2020
KOÇ HOLDİNG POSTS 183.8 BILLION TL IN CONSOLIDATED TURNOVER
AND A COMBINED INVESTMENT OF 10.7 BILLION TL IN 2020
AND A COMBINED INVESTMENT OF 10.7 BILLION TL IN 2020
KOÇ HOLDİNG CEO LEVENT ÇAKIROĞLU:
“WITH THE CORONAVIRUS PANDEMIC IN ACTION, 2020 WENT DOWN IN HISTORY AS AN EXCEPTIONAL TIME. AT KOÇ GROUP, WE HAVE NAVIGATED THESE CHALLENGING TIMES BY MAKING OUR COLLEAGUES HEALTH A TOP PRIORITY. WITH OUR AGILE MANAGEMENT APPROACH, ROBUST BALANCE SHEET, WELL-BALANCED PORTFOLIO STRUCTURE, STRONG DEALER NETWORK, RESILIENT SUPPLY CHAIN, AND DIGITAL CAPABILITIES, WE WERE WELL-EQUIPPED TO TAKE ON THESE EXTRAORDINARY TIMES. WE WERE PRECISE AND QUICK TO PUT INTO EFFECT FINANCIAL HEALTH MEASURES ACROSS THE GROUP. WE CONTINUED TO INVEST, STEPPING UP OUR GLOBAL GROWTH. WITH A COMBINED INVESTMENT OF 10.7 BILLION TL IN 2020, OUR TOTAL INVESTMENTS REACHED 42 BILLION TL IN THE LAST 5 YEARS. IN 2020, A YEAR OF PREVAILING UNCERTAINTY, WE ACHIEVED SUCCESSFUL RESULTS AND CONSOLIDATED OUR SOLID POSITION. I AM GRATEFUL TO OUR COLLEAGUES, DEALERS AND SUPPLIERS WHO MADE THIS POSSIBLE WITH THEIR GREAT EFFORT AND SOLIDARITY. WE WILL CONTINUE TO WORK HARD AND CREATE VALUE FOR OUR COUNTRY AS WELL AS OUR WORLD.”
Koç Holding posted in 2020 a total of 183.8 billion TL in consolidated turnover and reached a combined investment of 10.7 billion TL. Koç Holding CEO Levent Çakıroğlu assessed the financial results for 2020: “This past year has been an extraordinary and challenging one as the coronavirus outbreak has struck the world. Our top priority during the pandemic has been the health of our colleagues, partners, dealers, suppliers, and their families. By the same token, we prioritized safeguarding our human resources and sparing our colleagues any loss of income. We have led public health projects that aimed to drive social impact with a range of goods from mechanical ventilators to intubation cabins, face shields, and masks. With our agile management approach, robust balance sheet, well-balanced portfolio structure, strong dealer network, resilient supply chain and digital capabilities, at Koç Group, we were well-equipped to take on these extraordinary times. We were precise and quick to put into effect financial health measures across the group. In 2020, a year of prevailing uncertainty, we achieved successful results and consolidated our solid position. I am grateful to our colleagues, dealers and suppliers who made this possible with their great effort and solidarity. We will continue to work hard and create value for our country as well as our world.”
Levent Çakıroğlu: “With a combined investment of 10.7 billion TL in 2020, our total investments reached 42 billion TL in the last 5 years.”
Koç Holding CEO Levent Çakıroğlu emphasized that despite all the uncertainties, Koç Group has continued with its investments unabated. “With a combined investment of 10.7 billion TL in 2020, our total investments reached 42 billion TL in the last 5 years. Arçelik closed a partnership deal with the Southeast Asian market’s key player Hitachi to establish a company for the Japanese firm’s overseas home appliances business. According to the deal, Arçelik will acquire 60 percent stakes of the new company. We believe our partnership with such a strong player like Hitachi in this region that we had set as a strategic growth area for the Group will step up Arçelik’s global growth momentum. On the other hand, Aygaz finalized the investment in Bangladesh to expand to the Asian market that boasts the world’s biggest share and the fastest growth trend in the domestic LPG consumption. To supply, fill and distribute LPG in the Bangladesh market, a 50:50 Joint Venture Company was established with United Enterprises & Co. Ltd., one of Bangladesh’s most well-established companies,” said Çakıroğlu.
Stressing that they are set to lead the transformation in the automotive industry as Ford Otosan started electric vehicle investments, Koç Holding CEO Levent Çakıroğlu elaborated as follows: “We have undertaken to manufacture at the Gölcük plant the first fully electric version of Transit, the most preferred commercial vehicle in the world. We will also leverage our engineering know-how at Ford Otosan to invest in battery installation at our Kocaeli facilities, the biggest commercial vehicle manufacturing plant of Ford of Europe.” Çakıroğlu remarked this as a milestone towards the first and only electric vehicle manufacturing plant in Turkey and said: “This investment is an achievement, not just for Ford Otosan but also on a national scale, and it will earn us a competitive edge in international markets.”
Levent Çakıroğlu: “Our Group companies continued to make a difference in their respective industries and contribute to the economy of our country.”
“In the face of the many pandemic-related challenges, our Group companies continued to make a difference in their respective industries and contribute to the economy of our country,” said Levent Çakıroğlu and continued: “From 2019 to 2020, the Tofaş brand Fiat maintained its market leading position. Tofaş accounted for 19 percent of the light vehicle manufacturing in the automotive industry. The leading manufacturer for a seamless 14 years now, TürkTraktör has renewed its support for the agricultural industry. The brand singlehandedly manufactured 68 percent of Turkey’s tractor output and recorded 86 percent of the tractor exports. Otokar, on the other hand, saw a 20 percent growth in turnover in 2020. For the 12th time in succession, the company confirmed its position as Turkey’s most preferred bus in its segment. The brand’s R&D efforts culminated in the development of the Safe Bus that reduces COVID-19 contamination risks. Two new export orders have been placed in the defense industry.”
Levent Çakıroğlu stated that Tüpraş, Turkey’s leading company in refinery capacity, invested over 800 million TL in 2020 and kept meeting the domestic fuel demand regardless of the circumstances. He also specified how they prioritized diversity of the resources and renewable energy investments through Entek that aspire to becoming an integrated pioneer in the energy market.
In his remarks on the developments in the financial sector, Çakıroğlu said: “Sustaining its unwavering support to the economy, Yapı Kredi provided 382.7 TL billion funds in 2020. The bank opened the year with an issuance of 500 million USD subordinated notes in the global markets. This transaction has seen participation of more than 200 investors from across the world, and the demand was more than sixfold the issue amount. This has confirmed the trust in the economy of our country as well as our bank.”
Levent Çakıroğlu: “We cannot separate the future of our group from the future of the community we live in or the world.”
Noting that environmental, social and corporate management stand out as the top agenda items of Koç Group in 2020, Levent Çakıroğlu added: “As we have highlighted in our sustainable growth approach Lead. Together, we cannot separate the future of our group from the future of the community we live in or the world. Stakeholders today expect companies to adopt a long-term perspective and identify sustainability priorities, strategies, risks and opportunities. At Koç Group, we are following the global developments on climate crisis. Within this scope, we represent Turkey at the World Economic Forum’s CEO Action Group in an effort to define the role of private sector in delivering on the European Green Deal in the best way possible. Accordingly, we, at Koç Group, are committed to contributing to the development of a road map for global green recovery. We are pleased to publish, in this joint declaration, our suggestions that the funding mechanisms be available for the companies of the non-EU countries and the sustainability performance be considered in the assessment.”