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11 Mayıs 2022

Koç Holding posts 152.1 billion TL in consolidated revenue in the first quarter of 2022

Koç Holding posts 152.1 billion TL in consolidated revenue in the first quarter of 2022 with a combined investment of 5.3 billion TL. Commenting on the financial results of the first quarter of 2022, Koç Holding CEO Levent Çakıroğlu said, “I would like thank our colleagues, dealers, suppliers and customers who prefer our brands as they are the main drivers of this success.”

Koç Holding generated a consolidated revenue of 152.1 billion TL and made a combined investment of 5.3 billion TL in the first quarter of 2022. Commenting on the financial results of the first quarter of 2022, Koç Holding CEO Levent Çakıroğlu said, “Seeing the effects of the pandemic decreasing has given us a hope, as we leave behind the second year in our fight against it. On the other hand, we are keeping a close eye on the global changes caused by the Russia-Ukraine war. The potential economic and political implications of this war that inflicts major human tragedies are addressed on the basis of numerous scenarios. We hope that the war will come to an end and peace will be re-established as soon as possible.”

Çakıroğlu continued: “We keep creating value with the exceptional commitment of our colleagues, our agile management approach, solid balance sheet, diversified portfolio structure, strong dealer network, extensive supply chain, digital competencies and exemplary initiatives in environmental, social and governance matters. We continued our investments in the first quarter of 2022, making a combined investment of 5.3 billion TL, which brought our total investments over the past 5 years to 57.3 billion TL. I would like thank our colleagues, dealers, suppliers and customers who prefer our brands as they are the main drivers of this success.”
 
Levent Çakıroğlu: “We keep up with a value generation approach focused not just on today but also on the future competition”
Underlining that their steady and successful performance continued in the first quarter of 2022, Levent Çakıroğlu said, “We have been taking strategic steps decisively that increase our competitiveness on a global scale and further add to the strength of our Group companies. At Koç Group, we keep up with a value generation approach focused not just on today but also on the future competition in all the sectors in which we operate ever since our establishment. In this context, we have announced two significant initiatives for the future of our group. Ford Otosan, the leader of the Turkish automotive industry, reached an agreement for acquiring the Craiova Plant in Romania, one of Ford’s most efficient production facilities in Europe. With this investment that will be Ford Otosan’s first-ever acquisition abroad, we are confident that we will further reinforce our company’s title as Ford Europe’s largest commercial vehicle manufacturer and build on our country’s global competitive advantage in the automotive industry. The Romania plant will also carry out the production of the New Generation Courier vehicle and its all-electric version, which will be completely designed and engineered by Ford Otosan, Ford Puma and its new all-electric version, and 1.0 liter EcoBoost engines. Also, as Koç Holding, we have been making a joint evaluation with Ford Motor Company and SK On Co. on battery production. Moreover, with the first E-Transit vehicle that came out of the production line at the Gölcük plant, Ford Otosan started manufacturing Europe’s most powerful and Turkey’s first electric commercial vehicle. We are proud to be etching our name once again in the industrial history of Turkey with these significant developments that carry Ford Otosan to the international platform and that further increase our country’s competitive strength in the transforming automotive industry with the battery investment.”
 
“The coherence between Tüpraş's goals in strategic transformation plan and Entek's current portfolio and growth targets, as well as the synergy between two companies are valuable"
Çakıroğlu added: “As Koç Holding, we have completed the acquisition of a UniCredit-held additional stake in Yapı Kredi, which corresponded to 18% of the bank’s capital, in the first quarter of 2022. As I mentioned before, this purchase is an indicator of our faith in Yapı Kredi, the banking sector, and our country’s potential in the long-term. Having qualified to be named among ‘The Sustainability Yearbook 2022’ companies according to S&P Global’s Corporate Sustainability Assessment, our bank was placed in the ‘Leader’ category being the only bank from Turkey to receive AA grade according to MSCI ESG rating that measures businesses’ resilience to long-term environmental, social and governance (ESG) risks. On the other hand, we have taken a step for repositioning Entek Elektrik in line with the strategic goals of our companies operating in the energy sector. In this context, Koç Holding and Aygaz will transfer the shares they hold in Entek to Tüpraş. The coherence between Tüpraş's goals in strategic transformation plan and Entek's current portfolio and growth targets, as well as the synergy between two companies are valuable. We are aiming for Aygaz, the leading company of the LPG sector that is focused on overseas LPG investments and business lines such as cargo delivery, to allocate its existing resources to these prioritized strategic areas to create value.“
 
“We are targeting to reduce our Scope 1 and Scope 2 GHG emissions by 27 percent by 2030 and by 49 percent by 2040 from 2017 baseline year”
Sharing information about the Koç Group’s ESG initiatives, Levent Çakıroğlu said: “Sustainability has been always on our agenda: We have announced our net-zero target by 2050 upon the increased importance attached by our stakeholders to the fight against the climate crisis and the release of the European Green Deal. To achieve this target, we have initiated the Group-wide Carbon Transition Program. We have publicly disclosed that to attain this target, we will be reducing our Scope 1 and Scope 2 GHG emissions by 27 percent by 2030 and by 49 percent by 2040 from 2017 baseline year. In addition, we are among the supporters of the Task Force on Climate-Related Financial Disclosures (TCFD) that presents a thorough framework for transparently disclosing risks and opportunities arising from climate change as another area of focus of the Carbon Transition Program. We attach great importance to take part in global partnerships to eliminate the major risks and capitalize on emerging opportunities for the Group companies in the short-, medium- and long-term under diverse climate scenarios. To this end, we are delighted to have joined as Koç Holding among the supporters of the CEO Water Mandate led by the UN Global Compact, which brings business leaders together for developing sustainable solutions in water management.”
 
“We will take concrete steps to increase the ratio of women working in and leading technology and innovation, and to support the STEM education of girl students”
Noting that Koç Holding focuses on five areas, which are low-carbon transition, digital transformation, innovation, future competencies, and diversity and inclusion, within the scope of its sustainable and profitable growth strategy, Levent Çakıroğlu said, “At the Koç Group, we deem it extremely important that girls and women have equal rights and opportunities in all areas of life in order to eliminate the gender inequality barrier. Being one of the global action leaders on Technology and Innovation of the UN Women Generation Equality Forum, we publicly disclosed our commitments for the next five years. Along this line, we will take concrete steps to increase the ratio of women working in and leading technology and innovation, and to support the STEM education of girl students.”

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