Dogan Şirketler Grubu A.Ş announced the consolidated financials of the period January 1- September 30 2008. As of 30 September 2008 Doğan Holding revenues reached TRY 9,7 billion (USD billion 9,7) with TRY billion 2,2 increase over the same period in 2007 while EBITDA increased by 38% to TRY 547 million (USD 444 million), implying improved profitability.
Doğan Holding reported a net profit (after minority interest) of TRY 161 million for the period.
Nebil İlseven, CEO of Doğan Holding declared that comparing with the same period in 2007 gross profit of TRY million 779 increased by 32% while the operating profit of TRY million 283 increased by 98%. Dr. İlseven denoted that The Group’s strategic focus and cost controlling affected the profit margins positively in addition to new investments initiated in 2008.
Dr. İlseven, pointed out that Doğan Holding and its group of companies have been preserving the cash position despite of the unfavorable market conditions emerged with global economic crisis, as of 30 September 2008 consolidated net cash and equivalents increased by TRY 330 million and reached TRY billion 2.7.
Nebil İlseven, concluded his declaration regarding the nine months’ financial results that the strong liquidity and well-balanced capital structure of Doğan Holding constitute two key assurances of the sustainable growth strategy targeted by Group both in Turkey and other prospective countries abroad, despite the deepening uncertainty in the global financial markets.