Koç Holding Sustains Its Successful Performance Through the First Half of 2023

Koç Holding announced its financial results for the first half of 2023. Having posted USD 24.9 billion in consolidated revenue, Koç Holding’s combined investments in the same period amounted to USD 1.6 billion, bringing the company’s total investments over the past 5 years to USD 10 billion.
 
Commenting on the results, Koç Holding CEO Levent Çakıroğlu said: “We closed the first half of the year with a successful performance in line with our target of creating long-term value despite global uncertainties and challenging market conditions. We carry on with our investments resolutely, driven by our solid liquidity and balance sheet, resilient and diversified portfolio structure, our human capital equipped with the competencies of the age, our agile management approach, and most importantly, our faith in the future of our country.”
 
Levent Çakıroğlu: “Backed by our further strengthened liquidity, we will keep working to create long-term value for all our stakeholders in the coming period.”
 
Noting Koç Holding’s recent successful transactions in line with its dynamic portfolio management, Levent Çakıroğlu continued: “As a result of the accelerated bookbuilding (ABB) for Yapı Kredi shares corresponding to 6.8% of the capital in Yapı Kredi held by Koç Holding, we successfully completed the off-market sale to international institutional investors at a consideration of TL 6.8 billion (approximately USD 250 million). Constituting one of the largest equity market trades in Turkey over the last couple of years, this sizeable successful transaction is a strong testament of the trust held in our country, our Group and our bank. As the Koç Group, we will remain the main shareholder of Yapı Kredi with our 61.17% stake as proof of our faith in Yapı Kredi, the banking industry, and our country’s potential in the long term. On another front, we initiated a project to explore strategic options including the sales of Tat Gıda shares we own, and provided a mandate to receive financial consulting services. Backed by our further strengthened liquidity, we will keep working to create long-term value for all our stakeholders in the coming period.”
 
Levent Çakıroğlu said: “The all-new Transit Custom, one-tonne model of Europe’s best-selling van is designed from ground up to deliver new level of productivity and efficiency to its customers. The vehicle is about to get off the manufacturing line at Ford Otosan’s Yeniköy plant, initially with its diesel version, to be followed by the all-electric model. Ford’s second all-electric commercial model, the E-Transit Custom is strategically important in the electrific transformation of Ford. Designed by Ford Otosan with a customer-oriented approach and publicized in April, the internal combustion and all-electric versions of Transit Courier will be next on the production line at the Craiova plant of Ford Otosan.”
 
Levent Çakıroğlu: “Our exports correspond to approximately 7 percent of our country’s total exports.”
 
Stating that they value their export performance particularly in terms of the value contributed to the national economy, Levent Çakıroğlu went on: “As the Koç Group, our exports correspond to approximately 7 percent of our country’s total exports. By the same token, we take pride in the fact that four of the top 10 companies engaged in goods exports as listed in Türkiye’s top 1,000 exporters survey conducted by the Turkish Exporters Assembly are Koç Group companies. Ford Otosan is named the export champion in this survey, while Tüpraş ranked second, Arçelik seventh and Tofaş ninth.”
 
Levent Çakıroğlu: “Life started in all Hope Cities we set up in Adıyaman, Hatay, İskenderun, Kahramanmaraş and Malatya.”
 
Çakıroğlu expressed that Koç Holding’s comprehensive relief efforts uninterruptedly continued  in the disaster-hit region from the first day of the earthquake with an epicenter in Kahramanmaraş, and remarked: “Life started in all Umut Kents (Hope Cities) comprised of 5 thousand containers that will house approximately 20 thousand people that we set up in Adıyaman, Hatay, İskenderun, Kahramanmaraş and Malatya together with our Group companies and in coordination with AFAD, the Disaster and Emergency Management Presidency. For this reason, we have built Hope Cities not only for shelter, but also for the purpose of reconnecting the residents of the city to life. We prioritized services such as education, employment, sports and socialization besides sheltering with the goal of constructing an exemplary model in cooperation with local and international institutions and civil society organizations. With more than 115 thousand colleagues, our Group companies and project stakeholders, we will continue to stand by our earthquake victims as long as life continues in Hope Cities.”
 
Levent Çakıroğlu: “Our Group companies’ work on energy efficiency and renewable energy projects gained momentum.”
 
Stating that Koç Holding publicly discloses its progress in environmental, social and corporate governance with the Sustainability Report 2022 it has published, Levent Çakıroğlu said: “Within the scope of our Carbon Transition Program, our Group companies’ work on energy efficiency and renewable energy projects gained momentum. The renewable energy project we have launched will serve to supply more than half of our Group-wide electricity consumption from renewables. In addition, Arçelik, the industry leader on the Dow Jones Sustainability Index, will put to life a significant investment in renewable energy area and start manufacturing solar panels with an EUR 10 million-investment. The solar panel manufacturing facility that will reach an annual production capacity of over 1 million units thanks to the additional investment to be made until the year’s end will accelerate the renewable energy transformation of Türkiye.”