Doğan Holding records a three-quarter growth of 176% in revenues in 2022, raising TRY 4.8 billion in profit.

Doğan Holding has announced its results for 1-3Q22. The Holding has achieved a year-on-year (y-o-y) consolidated revenue growth of 176% in the first three quarters of 2022 and generated a consolidated revenue of TRY 30.8 billion. The Holding’s gross profit in 1-3Q22 rose by 192% y-o-y to hit TRY 3.9 billion, and its Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) surged by 230% to TRY 3 billion. With the recovering trend in operating profit and revenue generated from investments, Doğan Holding's profit for the period jumped by 482%, climbing to TRY 4.8 billion from TRY 830 million.

According to the financial statements submitted by Doğan Holding to the Public Disclosure Platform (KAP), the Holding’s consolidated revenues for 1-3Q22 totaled TRY 30.8 billion. Doğan Holding’s gross profit in 1-3Q22 rose by 192% y-o-y to hit TRY 3.9 billion, and its Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) increased by 230% to TRY 3 billion. Doğan Holding's net profit for the period (1-3Q22) skyrocketed by 482% y-o-y to TRY 4.8 billion, up from TRY 830 million.

‘The main driver behind this revenue growth is the strong Q1-3 performance of all group companies'

Doğan Holding CEO Çağlar Göğüş highlighted that the 482% increase in Net Profit for the Period to TRY 4.8 billion was, to a significant degree, attributable to the rise in the net profits of the electricity generation, petroleum products retail, automotive trade and marketing, industry and trade segments. Göğüş also added:

“The petroleum products retail enjoyed a revenue jump of 186%, and the electricity generation segment secured 161% with the contribution of WPPs boasting high capacity factors and the increase in electricity prices. The robust performance of Karel Elektronik, Ditaş and Sesa and the upward trajectory in their exports culminated in a 173% increase in revenue for the industry and trade segment. Soaring demand and new brand additions to the portfolio drove a 169% rise in revenue in the automotive trade and marketing segment.”

Stating that profitability had reached a satisfactory level thanks to the operational performance boost, improved margins and effective balance sheet management across all segments, Göğüş noted that the Holding's gross profit increased by 192% y-o-y, from TRY 1.3 billion to TL 3.9 billion, and that the EBITDA margin was recorded as 9.6%, up from 8%.

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