Doğan Holding Hit its Targets for 2008

Doğan Şirketler Grubu Holding A.Ş. announced consolidated financials for the period January 1 – December 31 2008. Doğan Holding revenues in 2008 reached TRY 12.5 billion with 22% annual increase while EBITDA increased by 16% to TRY 682 million (USD 528 million).

 

Nebil İlseven, CEO of Doğan Holding, stated that total operating revenues for 2008 soared by 22% comparing vs. previous year and over-performed the yearly targets. As a result of the mounting risks to growth and unfavorable impacts of accelerating global recession at the last quarter, the operating profitability of the Group was under pressure with increasing financial costs, surge in foreign currencies, and volatility in the commodity markets. The Group’s operating profit increased with 16%, TRY billion 1.3 and EBITDA increased with %20, TRY million 682.

 

Nebil İlseven concluded his declaration regarding the Groups consolidated financials and Holding keeping its net cash position in 2008; strong liquidity and well-balanced capital structure of Doğan Holding constitute one of the key assurances for sustainable new investments in Turkish and foreign markets.