DOCSLIB.ORG

Shaping the Future

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Shaping the Future SHAPING THE FUTURE Ford Otosan 2019 Annual Report Ford Otosan 2019 Annual Report CONTENTS FROM 1928 TO TODAY Ford Otosan at a Glance 4-5 Sustainability 88-89 Ford Otosan: From Past to Present 6 Sustainability Practices 90 Summary Results 7 Environment 91 Main Indicators 8 Quality 91 Highlights 10 Occupational Health and Safety 91 Values 12 Ethics 92 Vision, Mission and Strategy 13 Human Resources 94 Milestones 14 Corporate Social Responsibility 96 General Assembly 16-17 Corporate Governance 98-99 Ordinary General Assembly Meeting Agenda 18 Corporate Governance Principles Compliance Report 100 Independent Auditor’s Report on the Board of Directors’ 19 Corporate Governance Information Form 104 Annual Report Corporate Governance Compliance Report 112 Board of Directors’ Report 22 Risk Management and Internal Control 120 2020 Guidance 26 Legal Disclosures 122 Dividend Policy 27 Report on Related Party Transactions for 2019 126 Dividend Distribution Proposal 28 Statement of Responsibility 127 Remuneration Policy for the Board of Directors 30 Declaration of Independence 128 and Senior Executives 2020 Board of Directors Member Candidates 31 Financial Statements 130-131 and Other Information Management and Assessments 32-33 Financial Statements and Independent 132 Chairman’s Message 34 Auditor's Report CEO’s Message 36 Ordinary General Assembly Information 208 Board of Directors 38 Document Organization Chart 43 Appendix 4/ Amendments to the Articles of 214 Executive Management 44 Incorporation Developments Following the Report Date 224 “I live and prosper with my country. Ford Otosan in 2019 48-49 Investor Relations 50 As long as democracy exists and thrives, Turkish Automotive Market and Ford Otosan 52 “Coming together is a beginning. Exports 54 so do we. We shall do our utmost to Production and Capacity 56 Keeping together is progress. Highest Commercial Vehicle Production Capacity in Europe 58 strengthen our economy. As our economy Plants and Facilities 60 Working together is success.” Kocaeli Plants 62 prospers, so will democracy and our World Economic Forum Global Lighthouse Network 64 Ford Custom: A Segment-First Plug-in Hybrid 66 standing in the world.” Commercial Vehicle Ford Trucks Growth Strategy 70 Suppliers 74 R&D 77 R&D and Test Centers 81 Vehbi Koç Henry Ford Innovation 84 Digital Transformation 86 Ford Otosan 2019 Annual Report Ford Otosan 2019 Annual Report Ford Otosan General Management Ford Otosan Corporate Financial Ford Otosan General Management Ford Otosan Corporate Financial Sustainability Sustainability at a Glance Assembly and Assessments in 2019 Governance Reports at a Glance Assembly and Assessments in 2019 Governance Reports 6 Ford Otosan: From Past to Present 7 Summary Results 8 Main Indicators 10 Highlights Ford Otosan 12 Values 13 Vision, Mission and Strategy 14 Milestones at a Glance 4 5 Ford Otosan 2019 Annual Report Ford Otosan 2019 Annual Report Ford Otosan General Management Ford Otosan Corporate Financial Ford Otosan General Management Ford Otosan Corporate Financial Sustainability Sustainability at a Glance Assembly and Assessments in 2019 Governance Reports at a Glance Assembly and Assessments in 2019 Governance Reports FORD OTOSAN FROM PAST TO PRESENT SUMMARY RESULTS 1997* 2019 2015 2016 2017 2018 2019 Main Financial Indicators (TL Million) Revenues 16,746 18,289 25,341 33,292 39,209 Production Capacity 10 Export Revenues 10,723 12,287 17,830 27,303 33,375 47,000 455,000 Domestic Revenues 6,023 6,002 7,511 5,989 5,834 (Units) Times Gross Profit 1,860 2,086 2,637 3,459 4,015 Operating Profit 1,036 1,111 1,708 2,285 2,422 EBITDA 1,441 1,567 2,182 2,854 3,198 Production 43,102 9 369,027 Profit Before Tax 866 970 1,481 1,761 1,950 (Units) Times Net Profit 842 955 1,490 1,683 1,959 Earnings Per Share (for Kr 1 nominal value) 2,40 2,72 4,25 4,80 5,58 Exports 501 Cash Position (TL Million) 667 334,455 Cash & Cash Equivalents 980 1,189 1,806 1,393 3,203 (Units) Times Total Financial Debt (2,561) (2,852) (3,604) (4,483) (6,208) Net Financial Debt (1,580) (1,663) (1,798) (3,090) (3,005) Exports 16 370 5.9 Financial Ratios (USD) Million Times Billion Current Ratio 1,05 1,09 1,13 1,02 1,17 Liquidity Ratio 0,73 0,79 0,87 0,64 0,87 Net Financial Debt / Tangible Net Worth 0,63 0,64 0,60 1,01 0,78 Net Financial Debt / EBITDA 1,10 1,06 0,82 1,08 0,94 Revenues 850 6.9 8 Current Assets / Total Assets 0,48 0,50 0,57 0,56 0,62 (USD) Million Times Billion Current Liabilities / Total Liabilities 0,71 0,70 0,73 0,78 0,74 Total Liabilities / Total Assets 0,64 0,66 0,69 0,70 0,72 Return on Equity (%) 27.5 30.2 40.3 43.2 42.0 Headcount 3,406 3 10,899 Times Margins (%) Gross Margin 11.1 11.4 10.4 10.4 10.2 EBITDA Margin 8.6 8.6 8.6 8.6 8.2 Operating Margin 6.2 6.1 6.7 6.9 6.2 Market Cap 1.1 4 4.2 Net Income Margin 5.0 5.2 5.9 5.1 5.0 (USD) Billion Times Billion Other Dividend Payment (TL Million) 400 663 790 1,204 1,284 * The year the shares of Koç Holding and Ford Motor Company in Otosan became equal. 6 7 Ford Otosan 2019 Annual Report Ford Otosan 2019 Annual Report Ford Otosan General Management Ford Otosan Corporate Financial Ford Otosan General Management Ford Otosan Corporate Financial Sustainability Sustainability at a Glance Assembly and Assessments in 2019 Governance Reports at a Glance Assembly and Assessments in 2019 Governance Reports EBITDA MAIN INDICATORS Record (TL million) 2019 8.2% 3,198 Despite rising costs due to the increase in €/TL rate (12% YoY) 2018 8.6% 2,854 and high inflation rates, as well as decline in domestic sales, we maintained strong profitability in 2019 as EBITDA rose 12% to TL WHOLESALE VOLUME 3,198 million. This was supported by: (1000 Units) 2017 8.6% 2,182 » Higher export demand 2016 8.6% 1,567 2019 334 383 » Positive sales mix and pricing discipline In 2019, sales in the Turkish automotive industry decreased by » Cost reduction actions and strong OpEx control 2015 8.6% 1,441 2018 329 395 23% year-on-year, dropping to 487,471 units with tightening » Recovery observed in Q4 in domestic market observed in all segments: -20% in passenger cars, -27% in light commercial vehicles, -37% in medium commercial vehicles and Margin 2017 297 413 -37% in trucks. Ford Otosan’s domestic wholesale volume was down 26% to 48,464 units. Export volumes rose 2% year-on- 2016 257 373 year, reaching a record level of 334,455 units. Total sales volume NET PROFIT Record decreased by 3%, down to 382,919 units with the impact of (TL million) 2015 254 381 continued contraction in the domestic market. Export Total 2019 5.0% 1,959 Net financial expenses declined 10% YoY driven by lower net 2018 5.1% 1,683 fx loss, mainly explained by lower devaluation than 2018. Profit before tax rose 11% to TL 1,950 million. Meanwhile, net profit increased by 16% to TL 1,959 million and higher than PBT due 2017 5.9% 1,490 to tax income resulting from deferred tax asset. REVENUES 2016 5.2% 955 (TL million) Record 2015 5.0% 842 Margin 2019 33.375 39,209 We recorded TL 5,834 million in domestic revenues. Despite 26% decrease in domestic units, contraction in our domestic 2018 27.303 33,292 revenues was limited to 3% thanks to our sales strategy focused DIVIDEND on high-margin products and pricing discipline. Meanwhile, (TL million, gross) 2017 17.830 25,341 our export revenues were up 22% year-on-year, amounting to TL 33,375 million with market growth, continued demand for 2016 12.287 18,289 our products and currency impact. Export volumes increased 2019 1,284 by 2% to a record level of 334,455 units. Total revenues were In 2019, a total gross dividend of TL 1,284 million was paid out in 2015 10.723 16,746 up 18% year-on-year reaching TL 39,209 million due to strong 2018 1,204 two shapes. Distributed dividend increased by 7% YoY while the performance in exports, which constituted 85% of total total dividend paid out by Ford Otosan reached TL 8.6 billion in revenues, up from 82% in 2018. the period from 2004 to 2019. 2017 790 Export Total 2016 663 2015 400 8 9 Ford Otosan 2019 Annual Report Ford Otosan 2019 Annual Report Ford Otosan General Management Ford Otosan Corporate Financial Ford Otosan General Management Ford Otosan Corporate Financial Sustainability Sustainability at a Glance Assembly and Assessments in 2019 Governance Reports at a Glance Assembly and Assessments in 2019 Governance Reports Share in Turkey’s Total HIGHLIGHTS Automotive Production Turkey’s Export Champion USD 25% 5.9 Largest Commercial Billion Vehicle Manufacturing Hub of Ford in Europe 455,000 Unit Production Capacity Share in Turkey’s Commercial Vehicle Production Turkey’s Commercial Vehicle Leader Highest Employment in 77% Turkish Automotive Industry 34% 10,899 Market Share Employees Share in Turkey’s Commercial Vehicle Exports Third in Most Competent R&D Center Total Automotive in Turkish Automotive Industry Market Share 79% 1,389 10.1% R&D Employees 10 11 Ford Otosan 2019 Annual Report Ford Otosan 2019 Annual Report Ford Otosan General Management Ford Otosan Corporate Financial Ford Otosan General Management Ford Otosan Corporate Financial Sustainability Sustainability at a Glance Assembly and Assessments in 2019 Governance Reports at a Glance Assembly and Assessments in 2019 Governance Reports VALUES VISION, MISSION AND STRATEGY STRATEGY VISION Growth VALUES Organic and inorganic growth in new markets and existing business areas Our products and services are the upshots of our efforts.
Load more

Recommended publications
  • Ford Otomotiv Sanayi A.Ş.) As Finance and Accounting Manager
    This report has been published using recycled paper and www.fordotosan.com.tr environment-friendly technologies. Annual Report 2014 Taking firm strides Ford Otosan towards from Past the future to Present 1997* 2014 At Ford Otosan, we made the biggest investment in the Production Capacity Turkish automotive industry, with capital expenditure (units) exceeding US$ 1.6 billion in the last 4 years. 47,000 415,000 9 times As the pioneering force of the Turkish automotive industry, Production (units) we continue to steadily create value for our country, our 43,000 245,000 shareholders and all other stakeholders, and take firm steps 6 times th Exports towards the future on our 55 anniversary. (units) 667 192,000 288times Contents Exports (US$) 4 Ford Otosan at a Glance 48 Sustainability 4 Summary Results 48 Quality 16 million 3.5 billion 5 Main Indicators 49 Occupational Health and Safety times 6 Vision, Mission and Strategies 50 Human Resources 219 7 Our Values 52 Environment Revenues 56 Corporate Social Responsibility 8 Management and Assessments (US$) Chairman’s Statement 8 59 Reports Board of Directors 12 59 Agenda of the Ordinary General Assembly 660 million 5.5 billion 20 Executive Management times 60 Board of Directors’ Report 8 24 Ford Otosan in 2014 68 Dividend Distribution Proposal 24 Awards 69 Corporate Governance Compliance Report Number of Employees 26 Investor Relations 77 Risk Management and Report on the Activities of the Early 28 The Turkish Automotive Industry and Determination and Management of Risk Committee Ford Otosan 79
    [Show full text]
  • How the Ford Motor Company Became an Arsenal of Nazism
    University of Pennsylvania ScholarlyCommons Honors Program in History (Senior Honors Theses) Department of History May 2008 The Silent Partner: How the Ford Motor Company Became an Arsenal of Nazism Daniel Warsh University of Pennsylvania, [email protected] Follow this and additional works at: https://repository.upenn.edu/hist_honors Warsh, Daniel, "The Silent Partner: How the Ford Motor Company Became an Arsenal of Nazism" (2008). Honors Program in History (Senior Honors Theses). 17. https://repository.upenn.edu/hist_honors/17 A Senior Thesis Submitted in Partial Fulfillment of the Requirements for Honors in History. Faculty Advisor: Walter Licht This paper is posted at ScholarlyCommons. https://repository.upenn.edu/hist_honors/17 For more information, please contact [email protected]. The Silent Partner: How the Ford Motor Company Became an Arsenal of Nazism Abstract Corporate responsibility is a popular buzzword in the news today, but the concept itself is hardly novel. In response to a barrage of public criticism, the Ford Motor Company commissioned and published a study of its own activities immediately before and during WWII. The study explores the multifaceted and complicated relationship between the American parent company in Dearborn and the German subsidiary in Cologne. The report's findings, however, are largely inconclusive and in some cases, dangerously misleading. This thesis will seek to establish how, with the consent of Dearborn, the German Ford company became an arsenal for Hitler's march on Europe. This thesis will clarify these murky relationships, and picking up where the Ford internal investigation left off, place them within a framework of corporate accountability and complicity.
    [Show full text]
  • Ford 1925 – Heute
    FORD Ford Vertretungen in Berlin und Pom - Zeitweise war jedes zweite Auto der mern. Zum ungekrönten König der Au - Welt mit dem Markenzeichen Fords, tomobilbranche stieg er durch die Ein - seinem handgeschriebenen Namen in führung der Fließfertigung bei dem ab einem blauen Oval, verziert, das man 1908 gebauten Modell T (im Volks - gemeinhin „Pflaume“ nannte. Dieses mund: „Tin Lizzy“, zu deutsch „Blech - Markenzeichen hatte Fords Ingenieur liese“) um 1913 auf. Childe Harold Wills bereits bei der Fir - Die Weiterentwicklung des arbeits - mengründung entworfen. Zu Fords Im - teiligen Taylorsystems wurde nach perium gehörten bald Maschinenfabri - 1903 Ford als Fordismus bezeichnet. Eine ken, Eisengießereien, Holzbearbei - radikale Reduzierung, Vereinfachung tung -, Glas-, Gummi-, Tuch-, Lack- und Normierung der im Modell T ver - usw. -Fabriken, Gummiplantagen, Erz - wendeten Fahrzeugteile und deren gruben, Kohlenbergwerke, Kokereien, langfristige Verwendung ließ die Kos - Waldungen, eine Flugzeugfabrik und ten und Preise erheblich sinken, so dass vieles andere. bis zur Produktionseinstellung 1927 Obwohl schon 1905 der Export von die Rekordmarke von über 15 Millio - Ford-Autos nach Deutschland begann, nen Exemplaren erreicht werden fanden sich für das auf amerikanische konnte. Verhältnisse zugeschnittene Fahrzeug 1904 1909 Ford-Werbung 1927 Ford-Werbung 1927 1912 Ford 1925 – heute Der Name Henry Ford stand Jahr - zehnte lang als Synonym für Fort - schritt, nicht nur im Autobau. Nach ersten Experimenten mit Au - tomobilen im Jahre 1896 gründete Henry Ford (geb. 30. Juli 1863, gestor - ben 8. April 1947) am 16. Juni 1903 in Detroit/USA seine Ford Motor Com - pany. Noch im gleichen Jahr gründete Ford Model T 1 FORD 1925 kaum Abnehmer; der Erste Weltkrieg sowie Einfuhrsperren unmittelbar da - nach, taten ein Übriges.
    [Show full text]
  • 41 Ford 2017
    41 FORD 2017 Ford Otosan 2017 Faaliyet Raporu Ford Otosan 2017 Faaliyet Raporu Ford Otosan 2017 Faaliyet Raporu İÇİNDEKİLER 1928’DEN BERİ BİR BAKIŞTA FORD OTOSAN 05 2017 YILINDA FORD OTOSAN 47 Dünden Bugüne Ford Otosan 06 Yatırımcı İlişkileri 48 Özet Sonuçlar 07 Türkiye Otomotiv Pazarı ve Ford Otosan 50 Temel Göstergeler 08 İhracat 52 Öne Çıkanlar 10 Üretim ve Kapasite 54 Temel Değerler 11 Tedarikçiler 58 Kilometre Taşları 12 Tesislerimiz 60 Ar-Ge 64 İnovasyon 70 Dijital Dönüşüm 72 GENEL KURUL 15 Olağan Genel Kurul Toplantısı Gündemi 16 SÜRDÜRÜLEBİLİRLİK 75 Faaliyet Raporu’na İlişkin Bağımsız Denetçi Görüşü 17 Yönetim Kurulu Raporu 20 Sürdürülebilirlik İlkeleri 76 2018 Yılına İlişkin Beklentiler 24 Çevre Dostu Üretim 77 Kâr Dağıtım Politikası 25 Kalite 80 Kâr Dağıtım Önerisi 26 İş Sağlığı ve Güvenliği 81 Yönetim Kurulu ve Üst Düzey Yöneticiler için Ücret Politikası 28 İnsan Kaynakları 82 2018 Yönetim Kurulu Üye Adayları 29 Kurumsal Sosyal Sorumluluk 84 KURUMSAL YÖNETİM 87 YÖNETİM VE DEĞERLENDİRMELER 31 Kurumsal Yönetim İlkelerine Uyum Raporu 88 Risk Yönetimi ve İç Denetim 96 “Devletim ve ülkem var oldukça Bir araya gelmek başlangıçtır. Yönetim Kurulu Başkanı’nın Mesajı 32 Hukuki Açıklamalar 98 Genel Müdür’ün Mesajı 34 ben de varım. Demokrasi varsa Bir arada kalabilmek ilerlemektir. 2017 Yılı Bağlı Şirket Raporu 100 Yönetim Kurulu 36 Sorumluluk Beyanı 101 hepimiz varız. Memleketimizin Birlikte çalışmak başarıdır. Organizasyon Şeması 41 Bağımsızlık Beyanı 102 Üst Yönetim 42 ekonomisini kuvvetlendirmek için elimizden gelen bütün gayreti HENRY
    [Show full text]
  • Youngtimer Festival Spa 2017
    Youngtimer Festival Spa 2017 Reg-Nr. C-S-YFS-017 FHR Langstreckencup 21 - 23 July 2017 Result of 1. Qualifying Spa Francorchamps - 7003 mtr. Pos Nbr Name / Entrant Car Cls PIC Fastest In Gap Diff Laps Km/h 1 108 Nolte-Funke Ford GT 40 24 1 2:43.295 7 8 154.41 2 40 Wolfe-Wright Ford GT40 4 1 2:48.048 8 4.753 4.753 8 150.04 3 246 E.M. Lamberty-Weinzierl Chevron-BMW B16 43 1 2:49.226 3 5.931 1.178 8 149.00 C.H.R.S.N. e.V. 4 185 Stursberg-Schmersal-Schmid Ford Escort RS1600 27 1 2:53.039 3 9.744 3.813 9 145.71 5 128 Markus Dünkelmann Porsche 911 ST 23 1 2:55.145 2 11.850 2.106 4 143.96 6 98 Albert Weinzierl Porsche 911ST 23 2 2:57.951 2 14.656 2.806 3 141.69 Michael Joos 7 127 Hürtgen-di Casa Porsche 911 ST 23 3 2:58.232 2 14.937 0.281 8 141.47 Scuderia Colonia e.V. im ADAC 8 119 Schlüter-Scheerbarth Porsche 911 ST 23 4 2:59.031 2 15.736 0.799 9 140.84 9 62 Schindler-Glaser BMW 2002 27 2 2:59.536 3 16.241 0.505 5 140.44 10 125 Jodexnis-C hrzanowski Porsche 911 S/R 23 5 3:01.051 3 17.756 1.515 9 139.27 Clickvers.deTEAM 11 124 Sanchez-Sanchez Porsche 911 ST 23 6 3:01.610 3 18.315 0.559 6 138.84 Scuderia Colonia e.V.
    [Show full text]
  • English Ford Lines Volume 19 Number 1
    E-Ford Lines Volume 19 Number 1 Winter/Spring 2010 SSSURFURFURF’’’S UPS UP!!! IIITTT’’’S TIME TO GET READY FOR SUMMER Newsletter of the European Ford Owners North America EUROPEAN FORD OWNERS SEND US YOUR ARTICLES NORTH AMERICA AND PICTURES Memberships and Club Business E-Ford Lines welcomes your articles. E-mail EFONA [Michael MacSems] transmittals are preferred. Please send your suggestions P.O. Box 11415 Olympia, Washington, 98508 and articles to [email protected]. We are just as E-Mail: [email protected] happy to get your articles, comments, pictures, and http://clubs.hemmings.com/NAEFR suggestions through the traditional USPS: mail them to Unofficial website: EnFoStuff.com 360-754-9585 (8:00 AM - 9:00 PM PT) P.O. Box 11415, Olympia, WA 98508. Articles may be Newsletter Submittals or Comments E-Mail: edited for content and to meet space requirements. As you [email protected] can see, we love to put car photos in the newsletter. Your pictures (digital via email are preferred) of cars or events Associate Membership: Free are very welcome. Your cars do not have to be “picture Full Membership, based on newsletter format (four issues per perfect” in order find a place in our publication, but we year): US $10.00 for e-mailed copies, US $20.00 posted. would like to know details like year, model, owner, Checks Payable to IFHP photographer, and interesting history. If you want your The International Ford History Project is a pictures returned, please let us know. It may take several Washington State non-profit corporation issues for your submittal to be published.
    [Show full text]
  • Final Report of the Pilot Region Tests, Names the Most Promising Applications for the First Market Implementation for Commercial Cases (NOW, 2012)
    E-Mobility NSR Comparative Analysis of European Examples of Schemes for Freight Electric Vehicles Compilation report TU Delft, HAW Hamburg, Lindholmen Science Park, ZERO and FDT | 03.07.2013| Aalborg, Denmark List of Contents Introduction ....................................................................................................................................... 13 EU policies supporting e‐mobility ....................................................................................................... 15 Methodology ...................................................................................................................................... 17 Danish cases ........................................................................................................................... 19 1 Introduction .................................................................................................................................... 20 2 Policies and legislation on freight electric mobility .......................................................................... 20 3 Initiatives on Urban Freight Distribution with Electric Vehicles ....................................................... 24 3.1 Gardening and Road service in Frederiksberg .............................................................. 25 3.2 Roadwork and distribution in Copenhagen .................................................................. 28 3.3 Environmentally friendly driving in KLS Grafisk Hus ..................................................... 31
    [Show full text]
  • Plug-In Electric Vehicles: a Practical Plan for Progress
    Plug-in Electric Vehicles: A Practical Plan for Progress The Report of an Expert Panel February 2011 School of Public and Environmental Affairs at Indiana University SCHOOL OF PUBLIC AND ENVIRONMENTAL AFFAIRS INDIANA UN IV ERSI TY Plug-in Electric Vehicles: A Practical Plan for Progress The Report of an Expert Panel February 2011 School of Public and Environmental Affairs at Indiana University SCHOOL OF PUBLIC AND ENVIRONMENTAL AFFAIRS INDIANA UN IV ERSI TY TRANSPORT ELECTRIFICATION PANEL (TEP) TEP FACULTY AND STAFF MEMBERS Dr. John D. Graham Gurminder Bedi (Chair) Dean, School of Public and Environmental Affairs, Ford Motor Company (Retired) Indiana University Michael Brylawski Dr. Sanya Carley Bright Automotive Assistant Professor, School of Public and Environmental Affairs, Indiana University John German International Council on Clean Transportation Chris Crookham MPA Student, School of Public and Environmental Dr. Sara Hajiamiri Affairs, Indiana University Pardee RAND Graduate School Devin Hartman Dr. Donald Hillebrand MPA and MS Student, School of Public and Argonne National Laboratory Environmental Affairs, Indiana University Dr. Kara Kockelman Dr. Bradley Lane University of Texas at Austin Assistant Professor, Institute for Policy and Economic Development, University of Texas at El Paso Michael Ligett North Carolina State University Natalie Messer MPA Student, School of Public and Environmental Dr. Virginia McConnell Affairs, Indiana University Resources for the Future Paul Mitchell Energy Systems Network Nick Nigro Pew Center on Global Climate Change Brett Smith Center for Automotive Research Michael Tinskey Ford Motor Company Dr. Thomas Walton Defour Group 2 Plug-in Electric Vehicles: Acknowledgements We want to thank the following individuals for their contributions to this project.
    [Show full text]
  • Ford Otosan 2017 Annual Report Ford Otosan 2017 Annual Report Ford Otosan 2017 Annual Report
    Ford Otosan 2017 Annual Report Ford Otosan 2017 Annual Report Ford Otosan 2017 Annual Report CONTENTS FROM 1928 TO TODAY FORD OTOSAN AT A GLANCE 05 FORD OTOSAN IN 2017 47 Ford Otosan from Past to Present 06 Investor Relations 48 Summary Results 07 Turkish Automotive Market and Ford Otosan 50 Main Indicators 08 Exports 52 Highlights 10 Production and Capacity 54 Main Values 11 Suppliers 58 Milestones 12 Plants and Facilities 60 R&D 64 İnnovation 70 Digital Transformation 72 GENERAL ASSEMBLY 15 Ordinary General Assembly Meeting 16 SUSTAINABILITY 75 Independent Auditor’s Report On The Board Of Directors’ 17 Annual Report Sustainability Principles 76 Board of Directors’ Report 20 Environmentally Friendly Production 77 2018 Guidance 24 Quality 80 Dividend Policy 25 Occupational Health and Safety 81 2017 Dividend Distribution Proposal 26 Human Resources 82 Remuneration Policy for the Board of Directors 28 Corporate Social Responsibility 84 and Senior Executives 2018 Board of Directors Member Candidates 29 CORPORATE GOVERNANCE 87 Corporate Governance Compliance Report 88 MANAGEMENT AND ASSESSMENTS 31 Risk Management and Internal Control 96 I live and prosper with my country. Coming together is a beginning, Legal Disclosures 98 As long as democracy exists keeping together is progress, Chairman’s Message 32 Report on Related Party Transactions for 2017 100 CEO’s Message 34 Statement of Responsibility 101 and thrives, so do we. We shall working together is success. Board of Directors 36 Declaration for Independency 102 do our utmost to strengthen our Organization Chart 41 HENRY FORD Executive Management 42 economy. As our economy prospers, FINANCIAL STATEMENTS so will democracy and our standing AND OTHER INFORMATION 105 in the world.
    [Show full text]