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Integrated Annual Report 2018 A LEADING BRAND HIGH TECHNOLOGY STRONG PRODUCTION 2018 INTEGRATED ANNUAL REPORT CONTENTS 01 FROM THE MANAGEMENT 04 WORK ENVIRONMENT AND RISKS 4 Message from the Chairman of the Board of 42 Economic and sector overview Directors 46 Risks, opportunities and Çimsa’s Approach 6 Message from the General Manager 10 Board of Directors 05 2018 PERFORMANCE 11 Senior Management 52 Economic Performance 54 Investments 02 ABOUT ÇİMSA 55 R&D and Innovation 14 Corporate Profile 59 Corporate Development and Human Resources 16 Çimsa At A Glance 67 Occupational Health and Safety 18 Domestic Facilities 70 Climate and Energy 19 International Terminals 74 Environmental Management 20 Milestones: Çimsa’s 46 Year Journey Of 78 Corporate Communication Success 06 BOARD OF DIRECTORS ANNUAL REPORT 03 STRATEGY AND STAKEHOLDERS 82 Prepared With Respect To Communiqué No: 24 The Strategy of Çimsa and Value Creation Series: II-14.1 Process 1 January - 31 December 2018 Annual Report of the 28 The Business Model of Çimsa Board of Directors 30 The Values Produced by Çimsa and Objectives 32 The Business Model - 2018 Performance 07 FINANCIAL STATEMENTS&INDEPENDENT AUDIT REPORT 34 Stakeholders, Priorities and Communication 122 Independent Auditor Report and Consolidated Financial Channels of Çimsa Statements 36 Prioritization Analysis and Matrix 124 Profit Distribution Suggestion and Results 38 Sustainable Development Goals and Çimsa 39 Sustainability Management at Çimsa 08 APPENDICES 214 Performance Tables for Çimsa 2017-2018 220 Independent Assurance Declarations 224 ÇİMSA - GRI Standards Index 231 UN Global Compact - 2018 Communication on Progress COMMUNICATION To access the PDF copy of Çimsa’sT2018 Integrated Annual Report, scan the QR code in your browser. Legal Disclaimer Çimsa 2018 Integrated Annual Report (“The Report”) was prepared by Çimsa Çimento San. ve Tic. A.Ş. (Çimsa) in accordance with the requirements of informing stakeholders, Turkish Code of Commerce (TTK), Capital Markets Board of Turkey (SPK), UNGC Progress Report, CSI, IIRC and the GRI (Global Reporting Initiative) reporting principles. All the information, opinions and considerations which are included in this Report and do not qualify to be complete, were provided by Çimsa and were not independently verified for the purposes of this Report. This report is for information purposes only and does not constitute any foundation for any investment decision, nor it is intended to influence investors in any decisions they may make. The information contained in this Report does not constitute any proposal, part of proposal, or invitation for a similar sales process regarding sales of Çimsa shares, and the publication of this report can not be deemed as the establishment of such a legal relationship. As of the preparation date of this report, it is believed that all the information and the related documents included in the report are accurate, and the information is disclosed in good faith and depends on reliable sources. However, Çimsa does not make any statements, guarantees or commitments regarding this information. The report also reflects the views of Çimsa Management, including forward-looking expectations in line with the predicted events in the future, as well as information and analyses about the company. Although it is believed that the information and analyses provided here are accurate and the expectations are realistic, the outcomes in the future may deviate from the predictions herein depending on the changes in the underlying factors. In this context, neither Çimsa, its affiliated companies, subsidiaries, main company/holding nor their members of board of directors, executives, consultants, employees or other related parties can be held responsible for any direct or indirect losses and damages suffered as a result of any information disclosed within the scope of this Report, the use thereof, or for issues based on the information herein or not included in this Report. The contents of this report cannot be copied, changed or distributed without an open written consent of Çimsa. All rights of Çimsa are reserved. ABOUT THE INTEGRATED ANNUAL REPORT QUALITY, PERIOD AND EXTENT OF PUBLICATION OF THE REPORT Performance notifications were 01 THE REPORT Ensuring that the integrated annual generally presented in the scope of the With this report, Çimsa reviews the report is accessible by all stakeholders GRI Standard indicators, as well as the 02 current output of its activities and its is crucial and a top priority for Çimsa. United Nations Global Compact (UNGC) future plans and goals in the scope of Within this framework, the report was development reporting principles, which 03 the capital framework proposed by the produced under an environmentally Çimsa signed up to in 2013, and IIRC (International Integrated Reporting friendly perspective and was shared the principles of the World Business 04 Council) of which it has been a member electronically. The report can be Council For Sustainable Development 05 for 5 years; the company also views, accessed from the www.cimsa.com. (WBCSD)’s Cement Sustainability analyses and reports to its stakeholders tr website and through the link on Initiative (CSI) were also taken into 06 from an integrated perspective. Sustainability and Investor Relations, as consideration. well as through Çimsa’s sustainability 07 This integrated annual report website: www.cimsadasurdurulebilirlik. The 2018 Integrated Annual Report covers the period from 1 January - org. of Çimsa, whose shares are publicly 08 31 December 2018. traded on the Borsa Istanbul Exchange, COMPLIANCE WITH LEGISLATION is also in accordance with the minimum All information in the Integrated Annual AND THE REGULATORY annual reporting requirements of the Report, which also includes the Annual FRAMEWORK Turkish Code of Commerce and the Report of the Board of Directors, refers This report complies with the Capital Market Law. to the end of 2018 unless otherwise International Integrated Reporting stated. Framework suggested by the IIRC. AUDIT The financial statements presented Financial and non-financial data The report was prepared in accordance in Çimsa’s 2018 Integrated Annual pertaining to Afyon Çimento Sanayi with the core option of the GRI G4 Report were audited by Güney Bağımsız T.A.Ş., a 51% owned affiliate of Çimsa, Reporting guidelines published by the Denetim ve Serbest Muhasebeci are included to the figures presented in Global Reporting Initiative (GRI). The Mali Müşavirlik A.Ş. (Ernst&Young). this report. contents of the report were gathered Independent Assurance Declarations on the principles on the determination concerning other matters are This report also proves that Çimsa of report content described in the GRI presented on Page 220. has adopted integrated thinking and Standards Guideline, especially on the sustainability on an end to end basis principle of prioritization. 1 in all of its business processes. This approach strongly supports Çimsa’s efforts to conduct its business in the most appropriate way, both for the society it belongs to and for our world. The Turkish language version of this report has been published on March 27, 2019. GRI 102-46 “Within the scope of our Group’s future vision, Çimsa continues to generate permanent value for its stakeholders, to consolidate shareholder value and to contribute to the Turkish economy by unwaveringly carrying out its growth strategy.” Dr. Tamer SAKA Chairman of the Board of Directors 2018 Integrated Annual Report “In a year marked by volatilities in the global and national economy, Çimsa not only achieved its ÇİMSA financial and operational targets, but also continued 2 to move forward with determination which is important for shaping its future.” Ülkü ÖZCAN General Manager 01 02 03 04 We created 05 06 07 lasting value by 08 managing the dynamics of 2018 with our agile and rational strategy. 3 FINANCIAL MANUFACTURED INTELLECTUAL HUMAN CAPITAL SOCIAL AND NATURAL CAPITAL CAPITAL CAPITAL RELATIONSHIP CAPITAL CAPITAL MESSAGE FROM THE CHAIRMAN OF THE BOARD OF DIRECTORS As a publicly traded company, Çimsa has adopted the developmenat of shareholder value as one of its main targets. Çimsa’s sustainable growth journey, which started 46 years ago, 2018 Integrated Annual Report reached a new stage in 2018. ÇİMSA 4 Dear stakeholders, more evident in 2018. Çimsa’s vision has enhanced our business export performance has improved with its guidance, as we are in the IN ADDITION TO GENERATING ADDED with added momentum, as we process of activating a cultural and VALUE FOR ITS STAKEHOLDERS, have continued to generate added technological transformation in all OUR COMPANY HAS SUCCESSFULLY value with high market efficiency in of our processes, taking important PRESSED AHEAD WITH ITS different countries. Meanwhile, the steps towards achieving these steps. STRATEGIC STEPS. investments undertaken by Çimsa Our pioneering position in the Turkish America - our affiliate in the United Thanks to this approach, which cement industry has advanced further States - have continued in line with prioritizes innovation and higher with the strategic steps we have our strategic plan with the facility added value production, we continue taken in 2018. In a year in which we approaching its completion. to move forward with determination, achieved major breakthroughs for aiming to do our best for the country, the future, we achieved a healthy and WE ARE READY FOR THE FUTURE the Sabancı Group and for our sustainable financial and operational WITH OUR POWERFUL AND stakeholders.
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