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Annual Report 2018 Çalik Holding Annual Report 2018

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Annual Report 2018 Çalik Holding Annual Report 2018 ANNUAL REPORT 2018 ÇALIK HOLDING ANNUAL REPORT 2018 REPORT HOLDING ANNUAL ÇALIK www.calik.com ÇALIK HOLDING IN FIGURES Çalık Holding operates in energy, construction, textile, mining, telecom, finance and digital sectors across 5 continents and 22 countries, developing successful and innovative business models and progresses in business areas it operates in while ensuring sustainable growth. The foundations of Çalık Holding Çalık Holding 2018 REPORT HOLDING ANNUAL ÇALIK Çalık Holding were laid in employs operates across 1981 by the 28 thousand 5 continents. venture of employees. Ahmet Çalık. Çalık Holding operates in 22 countries. Çalık Holding Çalık Holding’s assets operates in grew by 23% reaching 7 sectors. 23% TL 7.2 billion. Proudly produced by FİNAR. www.finarkurumsal.com ÇALIK HOLDİNG’S TOTAL ASSETS (TL BILLION) CONTENTS ‘14 17.4 ‘15 22.1 ÇALIK HOLDİNG 02 An Overview of Çalık Group ‘16 29.9 04 Our Vision, Mission, Values 09 Message from the Chairman 12 Board of Directors ‘17 38.4 16 Executive Management 18 Çalık Holding Group 20 Çalık Holding in Brief 24 Milestones 30 Key Financial Indicators 34 Operation Map ‘18 TL 47.4 Billion ENERGY SECTOR 38 An Overview of the Energy Sector in 2018 40 Çalık Enerji 46 Çalık Petrol Arama Üretim Sanayi ve Ticaret A.Ş. 48 Yeşilırmak Elektrik Dağıtım A.Ş. (YEDAŞ) 52 Yeşilırmak Elektrik Perakende Satış A.Ş. (YEPAŞ) 56 Kosova Çalık Limak Energy Sh.A. ÇALIK HOLDİNG’S TOTAL SALES (TL BILLION) 58 Aras Elektrik Dağıtım A.Ş. (Aras EDAŞ) CONSTRUCTION SECTOR ‘14 6.0 64 An Overview of the Construction Sector in 2018 66 Gap İnşaat ‘15 7.2 TEXTILE SECTOR 72 An Overview of the Textile Sector in 2018 74 Çalık Denim ‘16 8.8 80 Gap Pazarlama MINING SECTOR ‘17 13.0 84 An Overview of the Mining Sector in 2018 86 Lidya Madencilik TELECOM SECTOR 92 An Overview of the Telecom Sector in 2018 94 ALBtelecom ‘18 TL 11.3 Billion FINANCE SECTOR 100 An Overview of the Finance Sector in 2018 102 Aktif Bank 108 Aktif Bank Subsidiaries 112 Banka Kombetare Tregtare (BKT) DIGITAL SECTOR 118 An Overview of the Digital Sector in 2018 Çalık Holding’s social responsibility 120 Çalık Dijital ve Bilişim Hizmetleri A.Ş. projects focus on 6 main areas; (Çalık Digital) CORPORATE MANAGEMENT 126 Corporate Social Responsibility Activities 130 Occupational Safety, Environment and education, innovation and Quality Policy 132 Human Resources 135 Organization Structure entrepreneurship, social FINANCIAL INFORMATION 141 Convenience Translation of the Consolidated Financial Statements for the Period 1 January - solidarity, environment, 31 December 2018 into English and Independent Auditor’s Report arts and sports. 295 Contact AN OVERVIEW OF ÇALIK GROUP Çalık Group companies implement innovative practices and develop creative solutions that meet current market needs in their respective industries, undertaking successful projects across various regions around the Energy Construction Textile world. Çalık Holding energy Having completed more Çalık Denim increased companies continued than 100 projects to date, its net sales by 51% in to demonstrate a GAP İnşaat successfully 2018 from TL 611 million remarkable performance represents the Turkish in 2017. in 2018 and carried out construction industry in their existing projects in international markets. line with their goals and strategies. NET SALES NET SALES NET SALES TL 5.0 Billion TL 2.0 Billion TL 924 Million EQUITY EQUITY EQUITY TL 3.5 Billion TL 1.3 Billion TL 383 Million Energy Construction Textile Total Assets (TL Billion) Total Assets (TL Billion) Total Assets (TL Billion) ‘16 5.0 ‘16 5.3 ‘16 1.1 ‘17 7.1 ‘17 7.0 ‘17 1.4 ‘18 7.3 ‘18 5.8 ‘18 1.7 ⊲ See page 38 for detailed information. ⊲ See page 64 for detailed information. ⊲ See page 72 for detailed information. Mining Telecom Finance Digital The strategic partnership ALBtelecom aims Aktif Bank, a pioneering Çalık Dijital started its between Lidya Madencilik to become the most banking institution in operations in order to and Alacer Gold is one preferred operator Turkey’s capital markets, conduct both the digital of the first and most in Albania with its achieved many firsts in transformation within prominent international innovative, customer- the industry in 2018. the Group and also to business collaborations focused services and carry out its projects in in the Turkish mining well-established brand. the areas it focuses on in industry. various markets. EBITDA NET SALES TOTAL DEPOSIT CAPITAL TL -18.7 Million TL 364 Million TL 2.8 Billion TL 6 Million EQUITY EQUITY EQUITY EQUITY TL 681 Million TL 283 Million TL 4.0 Billion TL 3.8 Million Mining Telecom Finance Total Assets (TL Billion) Total Assets (TL Billion) Total Assets (TL Billion) ‘16 0.7 ‘16 0.8 ‘16 20.1 ‘17 0.8 ‘17 0.9 ‘17 24.9 ‘18 1.0 ‘18 1.1 ‘18 34.8 ⊲ See page 84 for detailed information. ⊲ See page 92 for detailed information. ⊲ See page 100 for detailed information. ⊲ See page 118 for detailed information. OUR VISION OUR VALUES To grow four-fold on Fairness: At work and in our principles, we are a four continents by our family that is motivated by what is right and fair. 44th anniversary in 2025, adding value People-Oriented: We devote all our energy to to every life we touch improving people’s lives. Our priority is always in each area of our the development and happiness not only of our operation with reliable employees and customers but of all the people teams empowered touched by the value we generate. by our innovative, entrepreneurial spirit. Reputation: Our good reputation comes before anything else. OUR MISSION Work From the Heart: No matter what, we put To contribute to rising our hearts into what we do for our company, to standards of living by achieve our goals and to realize projects we firmly using our talents and believe that will add value to people’s lives. energy to develop solutions that add value Innovation: We continuously develop and to people’s lives in every improve our solutions and business models, region in which we identifying those that will differentiate us. operate. Agility: We have the flexibility and speed to meet every challenge. Sustainability: We value long-term, continuous success and respect the environment. MEMBERS OF ÇALIK FAMILY FIRST PUT THEIR HEARTS INTO EVERYTHING THEY DO TO ADD VALUE TO THE LIVES OF OTHERS, THEN SET THEIR STRATEGY; THEY NEVER BREAK THEIR PROMISES AND THEY HAVE A STRONG COMMITMENT TO WORK AND ETHICS. As Çalık family, we operate in the energy, construction, textiles, mining, telecom, finance and digital industries. We are a large, innovative and entrepreneurial family with 28 thousand employees operating across five continents, looking towards the future with the target of creating a better world, and carrying out projects that add value to people’s lives, while also prioritizing digital transformation. BEING A MEMBER OF ÇALIK FAMILY MEANS A CONSISTENT FOCUS ON FAIRNESS AND JUSTICE, WHILE WORKING IN SOLIDARITY. With 28 thousand colleagues operating in seven industries across five continents, we are striving for a better world. We are equal in our business approaches and efforts. Each project signifies our steady progress towards the future, and we are gratified to offer projects that add value to people’s lives. EMRE DENİZ Director of Project Management Office and IT Governance Çalık Holding 8 ÇALIK HOLDING ANNUAL REPORT 2018 ÇALIK HOLDİNG ENERGY CONSTRUCTION TEXTILE MINING TELECOM FINANCE DIGITAL CORPORATE FINANCIALS 9 MESSAGE FROM THE CHAIRMAN As Çalık Group, we aim to develop global projects, present innovative solutions in our lines of business, and create brands renowned worldwide. We continue investing in digital transformation, one of our most important tools for renewal and for new investments. Dear Business Partners and Valued of the market, the Turkish lira started HIGHLIGHTS IN FIGURES Employees, to stabilize and our economy entered into a period of recovery during the TOTAL SALES The year 2018 was marked by uncertainty last months of the year. Despite these in the global economy, trade disputes significant challenges, thanks to the TL 11.3 Billion among the world’s biggest economies, rapidly shrinking foreign trade deficit and and fluctuations in financial markets. revenue generated by tourism, Turkey TOTAL ASSETS In particular, US economic data driving had a current surplus in three consecutive bond yields, reaching the highest months as of August. TL Billion 47.4 level since 2011, limited the capital EBITDA flow towards developing countries AN OVERVIEW OF ÇALIK GROUP and directed a hot money flow to the In 2018, we completed pioneering mega TL 1.8 Billion US. Ongoing trade wars between the projects that stand out in the world. US and China have fueled tension in Among these projects was the opening the global markets; while the decision of Mary-3 Combined Cycle Power Plant to continue negotiations at the G20 in Turkmenistan, with Çalık Enerji. The Summit in Argentina has come as a Plant is the largest combined cycle power relief, uncertainties linger due to this plant in the Middle East; built in one tension on economic activities, and the stage and with modern technology, and Chinese economy continues to suffer. it was also the largest project carried The uncertainty surrounding Brexit out worldwide in 2018. The foundations persisted in the Euro Region, and all of Tedzani-4 Hydroelectric Power Plant signs suggest that the Brexit process will - the first power plant built in Sub- continue unless the conflict between the Saharan Africa - were laid. Construction European Union and the United Kingdom of Navoi-2 Combined Heat and Power Government is resolved. Plant and Turakurgan Power Plant in Uzbekistan is ongoing.
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