Sabancı Holding Announces Consolidated Net Profit

Sabancı Holding announced its financial results for the first nine months of 2022, reporting combined sales of TRY 275.4 billion, an increase of 175%, with nine-month consolidated net profit of TRY 27.2 billion.

Sabancı Holding Chief Executive Officer Cenk Alper noted that the importance of sustainability and digitalization is growing worldwide, and made the following comments on the subject:

"As Sabancı Group, in line with our Group Commitment and strategic priorities, we are driving a significant transformation to become 'Sabancı of the World' by placing sustainability and digitalization at the center of our focus, together with all our companies." Cenk Alper stated, "Our Energy division is leading our business units that are pioneering this transformation within Sabancı Group. In recent months, our Enerjisa Power generation company commissioned Turkey's first unmanned hydroelectric power plant, while continuing to rapidly advance our wind energy investments. Alongside the Kayseri Erciyes Wind Energy Plant (WEP) with a capacity of 65 MW that began operations in recent weeks, together with an additional 1,000 MW of wind energy investments we will implement in the coming period, the share of renewable energy in our portfolio will reach 57% by 2026. Moreover, through our Sabancı Climate Technologies company, while we are expanding our renewable energy investments beyond Turkey, we are also making strategic investments in various U.S.-based venture capital funds and start-ups. Within this scope, as part of our strategic partnership with Safar Partners, one of the leading U.S. venture capital fund management companies, we have made fund investments and direct investments in Commonwealth Fusion Systems and Quaise Energy start-ups," he said. "In our Industrial business division, Kordsa signed a strategic cooperation agreement with Toledo Solar Inc, a U.S.-based next-generation thin-film solar panel manufacturer based in Ohio. During this period, Kordsa also announced a USD 20 million cord fabric investment for North America and a USD 22 million investment for Turkey, continuing its investments domestically and internationally with great stability. In our Financial Services division, our newly established Sabancı Ageas Health Insurance company, created with our mission to lead in next-generation insurance services, is bringing new dynamism to the health ecosystem." [caption id="attachment_146165" align="aligncenter"] Sabancı Holding Chief Executive Officer Cenk Alper[/caption]

Noting that SabancıDx, which has been directing Sabancı Group's digital transformation in recent years, is now rapidly progressing toward becoming a global brand serving different companies worldwide, Cenk Alper continued:

"In addition to our investments in digital technologies, one of the three main elements of the new economy, through SabancıDx, we continue to support early-stage start-ups in Turkey through our Corporate Venture Capital Fund Sabancı Ventures. On the other hand, through the Sabancı ARF program we launched within the Holding, we are supporting entrepreneurs both from within and outside the Group to realize their ideas, while also pioneering the spread of an open innovation culture, which we consider very important for our country's technological development, throughout the business world."