Doğan Holding announced its financial results for 2021. In 2021, Doğan Holding’s consolidated revenues grew 57% year-over-year to reach TRY 16.9 billion. Holding’s gross profit in 2021 surged 89% year-over-year to TRY 2.4 billion, while its earnings before interest, taxes, depreciation, and amortization (EBITDA) hit TRY 1.7 billion with a 90% increase. Doğan Holding’s net profit for the period was TRY 2.8 billion, up from TRY 1.4 billion with a 103.45% growth, driven by the significant increase in operating profits as well as investment revenues.
According to the consolidated financial statements Doğan Holding submitted to the Public Disclosure Platform (KAP), the Holding recorded TRY 16.9 billion in consolidated revenues in year-end 2021. Doğan Holding’s gross profit for 2021 climbed 89% year-over-year to TRY 2.4 billion, while its earnings before interest, taxes, depreciation, and amortization (EBITDA) reached TRY 1.7 billion, up by 90% year-over-year. Doğan Holding’s profit for the period attributable to the parent increased 103.45% year-over-year to TRY 2.8 billion in 2021, up from TRY 1.4 billion in 2020. Consolidated net cash grew by 108.3% over year-end 2020 to reach TRY 5.1 billion, while standalone net cash rose to TRY 4.7 billion with a 78% increase over year-end 2020.
As in 2020, in the December 2020-October 2021 period, Doğan Holding was listed in the BIST Sustainability Index, which includes companies with top-tier corporate sustainability performance, and remains on the index today as well. Doğan Holding’s consistent dividend performance also enabled the Holding to be listed in the ‘BIST Dividend 25’ index in the February 2022-January 2023 period in addition to the BIST Dividend Index.
Commenting on the Holding’s financial results for the year 2021, Çağlar Göğüş, Doğan Holding CEO, noted that the key drivers of the growth were the strong performance of all group companies in the industry and trade segments as well as that of the petroleum retail segment, continued high demand and the impact of newly added brands in the automotive trade and marketing segment, and growing sales and increased generation of power plants in the electricity generation segment. Göğüş added:
“Revenues of the petroleum products segment rose 45.4% despite the pandemic restrictions, while the revenues of the electricity generation segment climbed 60.9% due to increasing electricity prices and the effect of Taşpınar WPP, which commenced full-capacity generation on March 25, 2021. Meanwhile, the strong performance of Çelik Halat, Ditaş and Sesa as well as the growth in exports resulted in a 97.2% growth in the revenues of the industry and trade segment. Revenues of the automotive segment skyrocketed by 119.1% thanks to the ongoing high demand and new brands added to the portfolio.
Bora Yalınay, Doğan Holding CFO, noted that the EBITDA growth in electricity generation, petroleum products retail, automotive trade and marketing, and industry and trade segments were essential contributors in the EBITDA growth of the Holding, which rose to TRY 1.7 billion with a 90% increase. The broad and balanced portfolio, growth- and profit-focused effective process management, cost savings and higher operational efficiency enabled the Holding to achieve considerably stronger profitability in 2021, noted Yalınay, with the Holding’s gross profitability climbing to TRY 2.4 billion, up 89% from last year’s TRY 1.3 billion, and EBITDA margin rising to 10.1% from 8.4%. “Our consolidated net cash increased 108.3% over the end of the previous year to hit TRY 5.1 billion, while standalone net cash grew 78% compared to year-end 2020 to reach TRY 4.7 billion,” shared Yalınay.
Çağlar Göğüş, Doğan Holding CEO, listed the key developments for the Group in 2021 as follows: the renewable energy company Galata Wind Enerji A.Ş.’s stocks marking Turkey’s first “green public offering”, and the acquisition of 70% stake in Profil Sanayi ve Ticaret A.Ş. and 3S Kalıp Aparat Makina Sanayi ve Ticaret A.Ş., two well-established players in the automotive industry, by the Group company DİTAŞ (Doğan Yedek Parça ve İmalat A.Ş.), an A-class supplier of the top national and international commercial vehicle manufacturers, as part of its investment strategy. Göğüş also shared another important development, namely the establishment of Doğan Investment Bank in August, which will operate in the finance and investment sector to meet the banking and financing services of Turkish companies, offering value-added services and consultancy to companies for their mergers and acquisitions, access to international funding sources, and securities issues, all part of its goal of becoming a reliable and competent representative of the international financial system in Turkey, and an all-around novel experience in investment banking. Meanwhile, Öncü GSYO continued its efficient and profitable growth trend and launched its investment in the field of ‘insurtech’, which has grown in prevalence during the pandemic, by taking part in the establishment of and Doğan Trend Sigorta, which is expected to commence operations in the second quarter of 2022, Göğüş shared. “As befits an organization listed in Borsa Istanbul’s Corporate Governance and Sustainability indices, Doğan Holding is committed to draw from its core values and 63-year history to create a positive impact in all investments, seizing the innovative and value-oriented business opportunities presented by the UN Sustainable Development Goals to guide our new investments and creating value for our society, our planet and our stakeholders,” said Göğüş.
63 yıldır Türkiye ekonomisine değer katan Doğan Şirketler Grubu Holding A.Ş., iş dünyasına Onursal Başkan Aydın Doğan’ın 1959 yılında Mecidiyeköy Vergi Dairesi’ne kaydolması ve 1961’de otomotiv alanında ilk şirketini kurması ile girmiştir. Bugün Doğan Grubu Şirketleri faaliyette bulundukları elektrik üretimi, akaryakıt perakendesi, sanayi & ticaret, otomotiv ticaret & pazarlama, finansman & yatırım, internet & eğlence ve gayrimenkul yatırımları alanlarında yenilikçi vizyonları ile öncü rol üstlenmektedir. Doğan Grubu’nun, bünyesinde yer alan tüm şirketleriyle birlikte uyguladığı kurumsal ve etik değerler, iş dünyasındaki diğer kurumlara da örnek teşkil etmektedir. Üretim faaliyetleri ve ticari faaliyetlerinde küresel başarıyı hedefleyen Doğan Grubu, yurt içinde ve yurt dışındaki gelişmeleri yakından takip etmekte, uluslararası gruplarla kurduğu stratejik iş birlikleri sayesinde faaliyetlerini verimli bir şekilde yürütmektedir.