Doğan Holding reports Second Quarter 2019 results. Doğan Holding's consolidated sales income reached TL 6 Billion 229 Million in the first half of 2019, 20 percent up compared to the same period of the previous year. On the other hand, Doğan Holding's operating profit stood at TL 666 Million in the first half of 2019, 80 percent up compared to the same period of the previous year.
According to the financial statements submitted to the Public Disclosure Platform (PDP) by Doğan Holding, Earnings Before Interest, Taxes, Deprecation and Amortization ("EBITDA") were TL 334 million in the first of half of 2019, 14 percent up compared to the same period of 2018, whereas the net profits for the period belonging to the parent of the Company stood at TL 452 million in the first half of 2019.
Çağlar Göğüş, CEO, Doğan Holding, made the following assessment in relation to the first half performance of Doğan Holding:
"The increase in our consolidated sales income were driven by our fuel retail business line that managed to grow despite the hard economic conditions prevailing in its industry. Electricity production and trade is another business line that demonstrated a performance above expectations and made positive contributions to overall performance with investments continued without slowing down. The automotive trade and marketing business line that increased its sales despite the 44.8 percent shrinkage in the automotive industry, and our tourism group also lent support to growth. Our Industry Group maintained its sales revenues staying focused on exports and value added production."
Göğüş, who said the fuel retail business line continued its efficiency-oriented growth and preserved its market share, and managed to reach a 9 percent growth in the first half of 2019, added:
"Our electricity production and trade business line increased its revenues as high as 85 percent on an annual basis with the production of Şah & Mersin WPP above the average wind capacity factor of Turkey and the contribution of Erzurum SPP.
Despite the shrinkage in the automotive industry, the growth in our revenues from our automotive trade and marketing business line reached 15 percent on an annual basis.
In the internet and entertainment segment, our Kanal D Romania investments has made a significant contribution in our profitability for this period.
The operating profits of TL 666 million that increased 80 percent was also driven by the use of cash generated from the sales of assets in the media and retail business lines completed last year in the right investment instruments.
In the period ahead, we will continue to grow without deviating from our strategic targets, and adding value to all our stakeholders."