Sabancı Holding's Consolidated Net Profit Reaches TRY 19.4 Billion

In the first half of this year, Sabancı increased combined sales to TRY 265.8 billion, a 61% increase compared to the same period in 2022, while consolidated net profit reached TRY 19.4 billion. Sabancı Holding continued to strengthen its balance sheet through improved equity profitability and strong cash generation, while raising the share of foreign exchange income in operating profit to 30%, and steadily continuing investments under its 'new economy' focused global growth strategy. Sabancı will raise sustainability-linked investments to USD 5 billion by the end of 2027.

'We doubled our investments'

Sabancı Holding Chief Executive Officer Cenk Alper, recalling the earthquakes that occurred on 6 February, said that in the face of this tragedy, their top priority was to stand with people in the field and contribute to healing the wounds. Noting that they continued relief activities in the region with great determination alongside all group companies, Alper stated: 'As a community, with our Sabancı Volunteers and our companies, we will be in the field until all wounds are healed.' Evaluating the financial results, Alper explained that through dynamic portfolio management and their successfully executed transformation strategy, they simultaneously expanded their core business while opening new growth areas for the group. Following the medium-term roadmap they announced last year, Alper noted that they doubled their investments, while directing 25% of non-banking investments to existing business lines, and continued: 'We are implementing 75% in what we call the 'new economy' – energy and climate technologies, advanced materials technologies and digital technologies. We see the sustainability economy as an important opportunity that will strengthen value-driven ecosystems and provide lasting benefits to all our stakeholders. In this context, we aim to raise sustainability-linked investments to USD 5 billion by the end of 2027.' [caption id="attachment_155825" align="aligncenter"] Sabancı Holding Chief Executive Officer Cenk Alper[/caption]

'Our renewable electricity use increased'

Cenk Alper noted that prioritizing moving from words to action is vital for a sustainable future, and continued: 'In line with our 2050 net zero target, as Sabancı Holding, in coordination with the Science Based Targets initiative (SBTi), we will reduce our direct carbon emissions by at least 42% by 2030. By the end of 2025, we aim to achieve a 15% reduction as a holding. In 2022, all our companies accelerated their work to increase the renewable share in our energy consumption. Compared to the previous year, the share of renewable electricity in our total electricity consumption increased more than threefold. Some of our companies have already switched to 100% renewable electricity. In the coming years, we will continue our investments in the new economy while continuing to focus on our environmental impacts.'

'We will implement one in every three wind and solar plant investments'

Sabancı Holding CEO Alper stated that group companies accept sustainability as their compass in all investment processes, and that they are steadily continuing investments to expand their renewable energy portfolio. Recalling that they produced 30% more renewable electricity last year compared to 2021, Alper provided the following information: 'In the next four years in Turkey, we will implement approximately one in every three wind and solar plant investments as Enerjisa Üretim. This also means increasing Turkey's installed wind power capacity by 10% in four years through our investments alone. Within the scope of the investment initiative we launched, we are strengthening our capabilities in advanced materials technologies in our industrial and building materials business lines. At our Kordsa Izmit facility, we will commission all of our USD 22 million investments next year. We aim to complete our approximately USD 42.5 million calcium aluminate cement (CAC) investment that we are continuing at our Çimsa Mersin facility this year.' Alper noted that Sabancı Ventures invested in SunGreenH2, a venture that develops equipment producing green hydrogen using sustainable energy sources and water, and stated that the Sabancı ARF Almost Ready to Fly program, which aims to contribute to the entrepreneurship ecosystem and open innovation, gave its first graduates in this period, and they made seed investments in 8 ventures aiming to translate innovative ideas in sustainability to commercial scale.   Source