Sabancı Holding Increases Combined Revenues to 868.3 Billion TL in First 9 Months

image

Sabancı Holding Increases Combined Revenues to 868.3 Billion TL in First 9 Months

Sabancı Holding A.Ş. (SAHOL) has announced its financial results for the third quarter of 2024, applying inflation accounting. During this period, Sabancı Holding's combined revenues reached 868.3 billion TL in the first nine months. The combined EBITDA of the holding amounted to 101.5 billion TL in the same period, with a quarterly increase in the EBITDA margin in the non-banking segment. Despite maintaining a low debt ratio, Sabancı Holding allocated 12.6% of its non-banking income to new investments, thereby sustaining its investment appetite even in challenging markets.

Sabancı Holding CEO Cenk Alper stated that strategic steps for the future are being planned, and these plans have been shared with foreign investors in London. He expressed that their five-year strategies covering the period from 2024 to 2029 are built on the themes of "Sustainable, Digital, and Scalable." In this context, he emphasized that they will further balance their portfolio with investments in energy and climate technologies, material technologies, mobility solutions, and digital technologies.

Investment Strategies and Goals

Cenk Alper noted that they aim to double Sabancı Holding’s net asset value to 20 billion dollars by 2029. He also mentioned plans to increase the share of foreign currency revenues from 19% in 2024 to over 30%. In line with this goal, they intend to raise the proportion of non-banking capital expenditures (CAPEX) within revenues from 11% to a range of 15-20%.

Alper added that the Sabancı Group has completed its largest acquisition abroad, highlighting the significant step taken by Çimsa, part of the Material Technologies Group, in acquiring Ireland-based Mannok Holdings. He noted that this acquisition will open new markets in the United Kingdom after Spain and the United States.

Renewable Energy and Innovation Investments

Sabancı Holding continues its renewable energy investments in both Turkey and the United States. They aim to increase the installed capacity of Enerjisa Üretim to over 5,000 MW by 2026 and raise the share of renewable energy to 60%. In line with these goals, they signed loan agreements worth approximately 1 billion dollars for YEKA-2 projects, which will have a total installed capacity of 1,000 MW.

Sabancı Renewables secured 137 million dollars in financing for the ongoing Oriana Solar project in the United States. These investments demonstrate Sabancı Holding's commitment to sustainable energy investments. At the same time, the holding is also investing in climate technologies, focusing on areas such as fusion and deep geothermal. Lastly, they are solidifying their leadership in this field with an investment in Tokamak Energy.

Digital Transformation Steps and Social Initiatives

Sabancı Holding continues to make significant strides in digital technologies. By increasing its share in local cloud service provider Bulutistan, they demonstrated their commitment to digital transformation. This development is seen as part of their focused growth in non-banking areas.

The holding evaluates the environmental factors of sustainability as a primary investment criterion while continuing its mission to be a pioneer in social development. Under the "Transforming brain drain into brain power" initiative, they inaugurated technology and impact centers in Izmir and Eskişehir. They plan to establish 8 more centers by the end of 2024.