Esteemed Shareholders, Business Partners and Employees,
Many countries faced fast-rising energy and commodity prices and upward trending inflation this year. International transportation costs brought about a sharp focus on domestic supply, while unexpected events such as the computer chip crisis stoked ever-mounting global inflation even more. Winds of technological transformation were explicitly felt in everyday life in 2021. E-commerce multiplied by tens of times compared to just a few years ago. Cryptocurrencies entered into everyday conversation. Newly emerging concepts such as the metaverse and digital art/NFTs received wide media coverage.
In Turkey, consumer inflation climbed to 36% on an annualized basis, while producer price inflation soared to 80% in 2021. Central banks the world over resorted to monetary tightening to deal with fast-rising inflation. Meanwhile, Turkey doubled down on its position, embracing a policy of a low interest rates, low borrowing costs, and high growth where the current account deficit is financed with higher exports and tourism revenue.
At Doğan Group, we exited this difficult year with good results by embracing the change, managing the uncertainty, and making timely decisions. Our turnover totaled TL 16,920,914 thousand while our EBITDA climbed to TL 1,714,695, up 90% compared to 2020.This year, we realized Turkey's first “green” initial public offering with Galata Wind, our 100% renewable energy company. Aytemiz, of which we are a shareholder, closed the year with net profit thanks to its productivity and profitability-oriented strategy and expense-reduction efforts. Our companies operating in industry and trade recorded major growth this year by compensating for production breakdowns and postponed orders in 2020. Electric mobility accounted for a bigger share of the investment portfolio in 2021 with new scooter, motorbike, and bicycle brands and models added to the automotive trade and marketing segment after MG. In 2021, Kanal D Romania issued dividend payments for the first time, while Hepsi Emlak completed its brand refresh efforts. Setting off to deliver a new experience in investment banking as one of the most reliable and competent representatives of the international financial system in Turkey, Doğan Yatırım Bankası started its business activities in August.
For 62 years, Doğan Group has strived to give back to Turkey by making new investments in the country. In 2021, Doğan Group continued its existing investments and made new investments worth TL 886,448 thousand. We started up hybrid power plant investments with Galata Wind. ÖNCÜ VCIT participated in founding Doğan Trend Sigorta, investing in insurtech, an emerging field which gained importance especially during the pandemic. DİTAŞ acquired 70% shares of Profil Sanayi ve Ticaret A.Ş. and 3S Kalıp Aparat Makina Sanayi ve Ticaret A.Ş., both operating in the automotive industry for many years. Meanwhile, SESA Ambalaj signed an agreement to acquire a 70% stake in Maksipak Ambalaj. The share transfer of Maksipak Ambalaj was completed in 2022.
The global climate crisis started to occupy an even more important place on our agenda during 2021. The Climate Change 2021 report prepared by the United Nations analyzed five different emission scenarios, all of which indicated that global warming would increase by 1.5C degrees compared to the pre-industrial era. Unfortunately, the Mediterranean Basin, where Turkey is located, is one of the world's most vulnerable areas to global climate change. After the pandemic, we acted with solidarity to make it through a very challenging time when we were shaken by disasters including forest fires and floods all across Turkey. At Doğan Group, we donated 100 thousand seedlings to TEMA Foundation to support the reforestation of fire-scarred areas. We supported the procurement of a high-capacity firefighting helicopter to Turkey with the permission of the Ministry of Agriculture and Forestry and in coordination with WWF-Turkey (World Wide Fund for Nature) and Muğla Metropolitan Municipality. We also supported the establishment of field hospitals with HAYTAP.
It is encouraging to see countries and states take action. While the USA returned to the Paris Climate Agreement under the leadership of President Joe Biden and China stopped funding coal-fired power plants, electric vehicle sales set new records. In Turkey, the Ministry of Environment and Urbanization was renamed as the Ministry of Environment, Urbanization and Climate Change.
We see it as critical that the business world goes beyond the agreements made via international summits and take quick action to effect faster transformations. As a value-driven, sustainable, and pioneering investment holding, we are committed to having a sustainable and positive impact on our world, country, and society. With this understanding, we developed and prepared the Doğan Impact Plan under the guidance of the United Nations Sustainable Development Goals in order to track our performance towards a more sustainable world. In 2021, we launched the Doğan Impact Plan with the motto “Better is Possible” and with the participation of Doğan Group employees. As part of this plan, we set our sustainability targets in three major value areas: Investment in the World, Investment in an Inclusive Society, and Investment in the Future. We plan to work towards these targets with our Group companies in 2022. By taking reasonable steps, Doğan Group aims to both become a carbon-neutral organization and recycle 100% of its water usage by 2030. We also target a 40% female management rate across the Group at minimum by 2025.
In 2022, we plan to work at full speed to achieve the targets set by our Group in all business activity areas, from industry to automotives. On its journey forward, Doğan Group is committed to generating its energy solely from renewable resources, adopting and investing in innovative business models, and supporting social gender equality for anti-discrimination. In these difficult times, we aim to improve the current situation with our innovation capabilities, invest responsibly, and create new opportunities.
At Doğan Group, we adopt a value-driven leadership approach. We need an innovative leadership understanding that is based on cooperation and solidarity in all aspects of life to ensure long-term sustainability. The distinctive names of this century will be the leaders who discuss together and implement their joint decisions. They will be role models who include women and the younger generations in their decision-making process. We need leadership that is not only knowledgeable but also wise. Because a sustainable future will come with "double-winged" leaders that can combine their minds with their hearts, and their conscience with their vision. I believe that a value-driven leadership perspective, inclusive approach, cooperation, and solidarity can ensure that the business world makes real progress toward sustainability, an item on everyone's agenda, and develop effective solutions to today’s pressing problems.
In 2022, Doğan Group aims to conduct all its business activities in a way that contributes to an inclusive society and a safe and healthy future. We remain committed to creating value for our investors and all stakeholders, starting with our employees, our most valuable asset, with the power and inspiration we take from Doğan Group's values.
Y. Begümhan DOĞAN FARALYALI