Q4 2024 Haci Omer Sabanci Holding AS Earnings Call Transcript
Key Points
- Haci Omer Sabanci Holding AS (IST:SAHOL) completed a significant acquisition of Irish Mannok for EUR253 million, marking its third major global expansion in three years.
- The company doubled its calcium aluminate cement capacity at Çimsa's Mersin plant, becoming the third largest producer globally.
- Enerjisa Uretim secured a loan agreement of over $1 billion for the financing of 750 megawatts of the 1,000 megawatt under YEKA-2 project.
- The commissioning of the Cutlass-II project, a 272 megawatts solar power plant in the US, was completed ahead of schedule and started generating positive net income.
- Haci Omer Sabanci Holding AS (IST:SAHOL) proposed a dividend of TRY3 per share, marking the twenty-third consecutive year of dividend payments.
- 2024 was a challenging year due to high inflation and macroprudential measures, impacting sectors including banking.
- The company reported a net loss from net income between 2023 and 2024, with a 44% decline in EBITDA.
- The banking sector, particularly Akbank, was adversely affected by the disinflation program and macroprudential restrictions.
- Material Technology segment faced revenue contraction due to competitive pricing and export market challenges.
- The company's cybersecurity business, Radiflow, faced impairments due to geopolitical issues, impacting financial results.
Hello, everyone. Sorry for the disturbance. Welcome to Sabancı Q4 earnings call. Please refer to our disclaimer before we proceed with the presentation. As a tradition our CEO, Cenk Alper, here with us today, together with our group CFO, Orhun Kostem. Let me leave the floor to our CEO, Cenk Bey.
Good morning, good afternoon, everyone. Before we review last year results, as I always do, I will address the strategic execution across our businesses during the year. This time, let me start with Mannok, where we are hosting this call. So, together with our management team, we are visiting Mannok in Ireland, and tomorrow we'll be hosting a press conference in Ireland.
Following our previous expansion in Spain with the acquisition of Bunol Plant and ongoing grinding investments in the US, as you all know, we acquired Irish Mannok for EUR253 million in October 2024. This is Ãimsa's third major global
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