Sabancı Increased Its Profits by 47 Percent in the First Quarter of 2021

Sabancı Holding increased its profit to 1.75 billion TL in the first three months of 2021, with an increase of 47 percent compared to the same period of the previous year.

Sabancı increased its profit by 47 percent in the first quarter of 2021. Announcing its financial realizations for the first quarter of this year, Sabancı Holding increased its profit by 47 percent in the first three months to 1.75 billion TL. Sabancı Holding increased its consolidated net sales by 24 percent to 16.8 billion TL in the first quarter of the year. The consolidated net profit of the holding was recorded as 1.75 billion TL with an increase of 47 percent. Sabancı Holding CEO Cenk Alper used the following statements in his assessment regarding the balance sheet: “During this period, we strengthened our balance sheet by continuing to generate cash. Thanks to their effective cost and demand management, they analyzed the transformations in their markets well. With their strong supplier relationships and agile stock management approach, they succeeded in making a difference both in sales and profitability.” Noting that non-bank combined revenues increased by 28 percent in this period, Cen Alper said, “While all our business lines increased their sales in the first quarter, especially our cement and industrial companies achieved very strong results by meeting the stronger domestic and international demand in the best way. In the first 3 months, our cement business line grew by 57 percent and our industrial business line by 36 percent. In the same period, our retail and insurance companies grew by 26 percent. Enerjisa Üretim started with two hydroelectric power plants to support the power plant operations of others with its asset management capabilities by commissioning the facility Senkron, where it can operate and manage remote power plants. On the other hand, our bank provided 359 billion TL credit support to our economy in the first quarter of the year, 299 billion of which is in cash.”