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Calik Holding Eng 2003 Çal›k Holding Annual Report 2003 1 Çal›k Holding Annual Report Global reach, regional focus > ‹stanbul-based Çal›k Holding is a group of companies engaged in the businesses of textiles, energy, construction, financial services, and trade. Çal›k Holding’s products and services make it a strong and competitive player in global markets. During 2003, Çal›k Group companies focused particularly on the hinterland of its national market. Çal›k Holding’s goal is to pursue region-focused growth while always maintaining its global reach and competitive strength. This is a region of the world undergoing a process of rapid and radical change and Çal›k Holding takes great pains to exploit every new business opportunity that arises anywhere in it. New Çal›k Holding ventures launched in Ukraine, Dubai, Sudan, and Albania have begun to take our 22 years of experience working and doing business in the real sector into those countries’ markets as well. The Group is determined to further strengthen its identity as a “corporate citizen” who is mindful of its stakeholders, society at large, and the environment and is firmly committed to the rules of ethics. Operating through its subsidiaries in different sectors, Çal›k Holding has total assets worth a billion US dollars. * * According to independently audited year-end 2003 figures. 2 Çal›k Holding Annual Report > In this year’s annual report In this year’s annual report: In 2003 we further strengthened our financial In this year’s annual report, Çal›k Holding once Chairman’s message performance and market position while again will go beyond merely reporting the most achieving our main corporate goals. important corporate developments taking place 2003 is an important juncture in in 2003 and will be focusing as well on our corporate history. While continuing with our transformation and presenting transparently and clearly not only While activities in the areas of energy and restructuring efforts throughout the Çal›k Group, the business philosophies and values of the construction continued to develop rapidly in we also took and implemented a number of holding company and its subsidiaries but also line with our strategic business plan, Çal›k highly important strategic decisions that provide their outlooks on the future. Holding decided to focus on business a medium-term road map for Çal›k Holding’s opportunities in regional markets while also future. We thank you all for your interest in and support maintaining its robust access to global for the Çal›k trademark, whose fundamental markets and has undertaken its first ventures Just as it has done in the past, so too in the goal is to provide outstanding products and along this new axis. future Çal›k Holding will continue to grow and services. create value by conducting its business in all > p. 4 its principal areas of activity and by taking an approach that is mindful of its social commitments and responsibilities. Snapshots from our principal business lines in 2003 Textiles Construction Products that are recognized and sought The fastest-growing line of business among after in global markets all group activities in 2003 > p. 24 > p. 32 Organizational ERP-SAP Project Corporate governance Far-reaching changes in Çal›k Holding’s Corporate governance at Çal›k Holding means developments corporate culture more than just full compliance with rules and laws. Corporate governance that is right > p. 48 and transparent not only contributes to the creation of added value but also results in heightened corporate performance and corporate respect > p. 48 3 > In this year’s annual report Çal›k Holding Annual Report As a producer of goods and services, our Group bears responsibilities towards our customers, our employees, society, and the environment. The global economy The national economy Çal›k Holding in 2003 Total gross global product 2003 was a successful year for Çal›k Holding’s financial and operational performance was strong in 2003 and worldwide increased 3.9% in 2003. the Turkish economy. performance targets in all areas of activity According to figures announced by the With the inauguration of single-party were surpassed. International Monetary Fund, total gross government in November 2002, the political global product increased 3.9% in 2003. uncertainties that had been plaguing the > p. 22 Paralleling the general global economic national economy were largely dispelled as recovery, this improvement is expected to the new government took pains to make it continue. Projections put the year-on increase clear that it would remain faithful to the in global gross product at around 4.6% in economic program launched by its 2004 and 4.4% in 2005. predecessor. > p. 18 > p. 20 Energy Trade Finance A business with the promise of a great future Pursuing growth by building long-term, A business shaped by an innovative approach multidimensional business relationships > p. 36 > p. 44 > p. 40 Risk management People, society, and the environment We believe that our efforts will lead to even The dynamic and changing structures of Çal›k Holding’s commitment to people, society, better results for both our Group and for economic and social life are not only and the environment informs all of its corporate society as a whole in the medium term. This substantially changing the classical rules to values. Our aim as a group is to develop our belief is also an affirmation of the which the business world is accustomed but products and services with an approach that responsibility that we bear towards future are also making dynamic decision taking is mindful of human happiness and welfare generations as a good corporate citizen. and performance processes an increasingly and to contribute to the growth of a healthy more important part of business life. society. > p. 50 > p. 49 4 Çal›k Holding Annual Report > Chairman’s message Region-focused development 2003 is an important juncture in our corporate important fact of life throughout this region history. While activities in the areas of energy for the foreseeable future. Such developments and construction continued to develop rapidly not only are of close concern to the people in line with our strategic business plan, Çal›k of the region but also create new prospects Holding decided to focus on business and opportunities for international business opportunities in regional markets while also circles as well. Companies and investors from maintaining its robust access to global all over the world are keeping a close watch markets and has undertaken its first ventures on business opportunities in the Turkic along this new axis. republics, the Middle East, the Balkans, and other developing economies and they are 2003 was an important year for our country as moving into these markets. well. 2003 was a year in which hopes began to sprout again and in which faith in our Aware of the tremendous potential inherent country and its future grew stronger as much in the vast region of which their national in international markets as it did in domestic market is the center, Çal›k Holding and its markets. Throughout the year the Turkish subsidiaries continue to reinforce their ability economy demonstrated that it could achieve to reach global markets with a strong line of sustainable growth. products and services. Balkan, Middle Eastern, Caucasus, and North African markets Ahmet Çal›k Chairman Successes in foreign policy enhanced the are at the top of the list of our Group’s value of Turkey’s name as the country at last geographical priorities. began to achieve the geopolitical status that has been only talked about for so many years. Çal›k Holding seeks to put its knowledge Meanwhile as Turkey advanced rapidly and experience at the service of people towards EU membership, the country has everywhere irrespective of political boundaries further strengthened its undisputed position or differences of race, religion, or language. among the emerging economies of the 21st century and is taking its place among the In 2003, the Çal›k Group began to reap strong players in the international arena. the first fruits of its regional focus strategy: construction projects that we have undertaken A global reach with a regional focus. As we in Ukraine, our newly-restructured trade unit have been underscoring in our annual reports in Dubai, the construction company that we for several years now, the broad geographical have set up in Sudan, and our financial region of which our country is the center is services venture in Albania are only the first undergoing fast-paced, radical change. steps in this direction that come to mind. This change is being experienced everywhere In line with this strategy, our new business in a vast region extending from the Balkans development teams are striving night and to the Middle East and from the Caucasus day to seek out and realize new and exciting to North Africa. It is a widely held consensus business opportunities that are in line with of opinion that economic growth will be an our mission in different parts of our region. 5 > Chairman’s message Çal›k Holding Annual Report Our trademark is strong, our products and services are high-quality, and our relationships with our customers and business partners are deep and strong. Change and our Group: Change has become a became operational throughout the Group in To summarize: The way forward for Çal›k Holding part of our day-to-day lives. All of our business 2004 were all designed to bring us closer to is clear and unobstructed. Çal›k Holding has units are confronted by the unavoidable need the ultimate goal that I summarized above. achieved the momentum of sustainable for change in the face of the demands of Having been undertaken as a management growth.
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