Q4 2023 Haci Omer Sabanci Holding AS Earnings Call Transcript
Key Points
- Exceeded targets in terms of revenue and EBITDA growth and profitability.
- On track to reach share of new economy and FX revenue share targets.
- Net debt to EBITDA at the group level is below midterm targets, providing comfort for further investment increases.
- Positive progress in non-bank CapEx-to-revenue ratio, indicating a focus on capital allocation efficiency.
- Strong performance in bank and financial services businesses despite macro volatility.
- Challenges due to hyperinflation and a devastating earthquake in the eastern part of Turkey.
- Midterm targets have become obsolete with the introduction of inflation accounting and need to be revised.
- Tire reinforcement business, Kordsa, was slow due to fierce competition.
- Revenue growth was impacted by the performance of natural gas power plants and the adverse effects of the earthquake.
- Inflation-adjusted consolidated net income decreased, reflecting the challenges of operating in a hyperinflationary environment.
Good afternoon. Welcome to Sabanci Holding's 2023 year-end earnings presentation. We have our CEO, Cenk Alper; and our CFO, Orhun Kostem with us.
I now would like to hand over to our CEO, Cenk bey, for initial comments. Before doing that, please refer to our disclaimer as it was a standard disclaimer that we have been using. Cenk bey?
Good morning, good afternoon. I would like to start my words by providing an update on our performance against our midterm guidance that covers 2021 to '25, which we have introduced back in November 2020. These targets were provided before the introduction of inflation accounting and, therefore, have now become obsolescence. They will be revised on a new basis. However, in the meantime, we will try to share with you where we are at the end of 2023 against the original plan.
I am happy to report that despite the worst number of substantial challenges and
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
