Investor Relations

CEO's Message

“The first quarter of 2024 began with an intense election agenda for our country, parallel to the first half of 2023. Monetary tightening continued as part of the fight against inflation, with the policy interest rate being raised to 50%. Markets entered a normalization process, establishing relationships between the money market and its application. During this period, Alarko Holding focused significantly on cash management and diversifying working capital strategies, which gained importance.
In light of all these developments, as Alarko Holding, we have made every effort to maintain our company's profitability at the highest level through the disciplined monetary and investment policies we have adopted. During this period, as a Group, we have continued to preserve our healthy balance sheet structure with low debt ratios and strong cash positions, while ensuring the most efficient use of our equity. Our TMS-29 adjusted combined earnings before interest, taxes, depreciation, and amortization (EBITDA) reached 1.8 billion TL. As a result of the TMS-29 application, Alarko Holding's net monetary loss, which is recorded by companies with strong equity, amounted to approximately 2 billion TL during this period, thereby limiting our profit.
In 2023, we initiated an advance dividend payment method for the first time, distributing approximately 888 million TL in dividends over 4 installments, ensuring regular dividend payments to our shareholders. We continued to invest by carefully planning the balance between growth and dividend distribution. In the first quarter of 2024, while making investments of approximately 1.3 billion TL, our investment appetite increased following the elections.
Alarko Holding, thanks to its dynamic and effective management capacity and systems, successfully continues all its operations even under the most challenging conditions. The principles we have adopted since our establishment have ensured our company's continuous and stable growth, while our proven strategic strength and flexible business model form the cornerstones of our long-term success.
We continue to accelerate our investments with our diversified portfolio structure. We are proud to celebrate the 70th anniversary of our establishment as one of the iconic institutions of our Republic, with significant investments in key development sectors from tourism to energy, industry to agriculture, infrastructure projects to aviation, a strong presence in different geographies, and nearly 7000 employees. Being a 70-year-old brand is a great success not only for our country but also on a global scale. On our growth and transformation journey, we undertake with this responsibility, we are making new investment initiatives and setting ambitious targets for ourselves in areas such as organization, sustainability, technology, and innovation. Carrying this success forward is only possible with the ability to transform. In light of the dynamics shaping the era, we also show the courage to continuously renew ourselves.
As of end of 2024, we will become the largest in the region with our geothermal modern greenhouse activities in agriculture. In addition to these activities, with the agreement we have signed with the Government of Kazakhstan, we will transfer our greenhouse activities in Turkey to Kazakhstan. We take pride in advancing our multidisciplinary approach in the Kazakh geography, where we have been collaborating for many years.
Our principle of creating value for shareholders and stakeholders continues alongside our high value creation capacity. In this context, we will strive to advance Alarko Holding’s social investments for all its stakeholders in the coming years”.

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