Çimsa, an affiliate of Sabancı Holding, announced its financial results for the first 6 months of 2022. It increased its turnover by 119% from 1,642 million TL to 3,595 million TL in the first half of the year, compared to the same period of the previous year.
Umut Zenar, CEO of Çimsa, evaluated the company’s financial results for the first half and said,: “We continue to create value for all of our stakeholders with the operational and strategic steps we take. We have completed the first half of the year by achieving rather successful financial results. We will continue our efforts to achieve sustainable profitability for our shareholders, investors and all of our other stakeholders for the rest of the year. We are creating additional value for our country with our export performance in the first half of 2022 and value-added products as in previous years. We attained a figure of USD 2.2 billion at the end of the first half by increasing our exports by 114% compared to the same period of the previous year. We achieved 50% of our net sales through exports in the first half of the year. This rate was 45% in the same period last year. We are still aiming to increase the share of exports in our sales in the upcoming period. This process is the outcome of strategic, integrated and well-disciplined teamwork adopted at Çimsa.”
Reminding that they transferred Kayseri and Niğde Plants and Ankara Grinding Plant of Çimsa to Fernas Group of Companies in return of TL 2 billion equivalent to EUR 110 million, Zenar pointed out that they are continuing to take steps to ensure that Çimsa can focus on high value-added and sustainable fields of business with this asset sale and added,: “We have made a very important contribution to our future vision with the strategic steps we have taken and the recent sale. We will focus on more value-added and sustainable areas with the income we have realized from the asset sale. We will use the funds generated from the sale transaction to realize our previously announced investments, to make use of potential strategic growth opportunities, to finance our sustainability investments and to reduce our indebtedness. The first step we will take in this respect will be the commissioning of our investment intended to increase our installed CAC capacity in Mersin.”
Indicating that Çimsa considers sustainability as a part of its main strategies, Umut Zenar made the following assessment: “We are carrying out various activities to contribute to a sustainable life by improving our environmental performance. As Çimsa, we are taking action with the aim of continuing to be a part of the circular economy and fulfilling the requirements of green transformation in this process. We are preparing to establish one of the largest solar power plants in the Turkish cement sector at our Afyon Plant with an investment of TL 52 million. The plant will have an installed capacity of 3.3 MW and will generate 4.2 million kWh of electricity annually. The amount of electricity to be generated at this plant will be equivalent to the annual electricity needs of 3000 households. We are aiming to create a contribution equivalent to the CO2 neutralization capacity of 2 million trees by cutting down 2000 tons of carbon dioxide (CO2) annually with our Solar Power Plant (SPP) project which will become operable in the 4th quarter of 2023.”
