AKKÖK is investing in the Future
The Akkök Group of Companies has posted a 7 percent growth in U.S. dollar terms and a net profit of $409 million for the year 2012.Akkök invested a total of $480 million in 2012, while focusing on the three industries that fueled most of its growth: The energy, real estate, and chemical industries. Relying on 100 percent domestic investments only, Akkök started producing carbon fiber, one of the world's most strategic products, in its bid to contribute to Turkey's sustainable growth.
The Akkök Group of Companies review meeting for the year 2012 was held in Istanbul with the participation of Ahmet Dördüncü, CEO of the Akkök Group of Companies; Ahmet Ümit Danışman, Member of the Executive Board; Raif A. Dinçkök, Member of the Executive Board; and Özlem Ataünal, CFO of the Akkök Group of Companies.
The meeting reviewed the consolidated financial statement for the year 2012 and declared that group sales had increased 7 percent to reach $3.1 billion, compared to last year. Akkök Group of Companies continued to grow and recorded a net profit of $409 million, despite the international financial crisis. In 2012, Akkök's consolidated equity grew 16 percent and reached $1.8 billion, with the total market value of its five publicly traded companies exceeding $2 billion.
Ahmet Dördüncü, CEO of the Akkök Group of Companies, stated that they would continue to focus their investments on industries that would help position Turkey among the 10 top economies of the world by 2023:"In 2012 we focused on investing in the energy, chemical, and real estate industries. They turned out to be a driving force behind our growth.Our turnover for the year 2012 was derived 55 percent from the energy, 36 percent from the chemical, and 16 percent from the real estate industries.We continued to grow and sustain our profitability despite the global economic crisis.We plan to invest $565 million in the year 2013 to sustain our ongoing growth.Another of our goals is to increase our revenue to $5 billion in 2017, compared to $3.1 billion for this year."
The chemical industry will carry Turkey to 2023
Dördüncü commented on their belief that the chemical industry was a key indicator for a country's development: "We have started reaping the fruits of our R&D and innovation investments. The R&D Center of Aksa Akrilik, whose 14 percent global market share makes it the world’s largest acrylic fiber producer, achieved a great feat by producing carbon fiber,an important strategic commodity on a global scale.The success of Turkish engineers allowed us to develop our own technological infrastructure and to enter the carbon fiber market in 2009.Only seven to eight
countries are capable of producing carbon fiber, a vital component for many strategic industries; including energy, automotive, and aerospace.DowAksa was established in 2012 as a joint venture whose shares are evenly distributed between Aksa Akrilik and Dow Europe Holding B.V., an affiliate of The Dow Chemical Company.DowAksa is one of the strongest candidates for becoming a leader in the production of carbon fiber and carbon fiber capital goods."
Carbon fiber will provide innovative solutions for tackling the most severe problems earth is facing nowadays; by increasing energy production at wind turbines, decreasing fuel consumption in cars, and increasing the life span of infrastructures and constructions by strengthening them. The global carbon fiber composite industry is estimated to reach a size of $40 billion in 2022, from its current size of $10 billion.
Dördüncü further said that the development of the carbon fiber industry would not only benefit the growth of Akkök Group of Companies but also that of Turkey: "We believe that our chemical industry investments and this product will decrease Turkey's dependence in economically vital industries like energy, aerospace, and automotive, which in turn helped Turkey compete with world giants; and play a significant role in decreasing Turkey's current account deficit in the coming periods.We will invest $1 billion in this area in the coming 5 years as part of our bid to become one of the world's leading carbon fiber companies by 2023."
Dördüncü said that the key to Ak-Kim's competitiveness lay in its R&D capability:"In 2012 alone, Ak-Kim invested 4 million Turkish lira in R&D and developed 50 performance chemicals. Ak-kim recorded a 30 percent growth in the European market in terms of tonnage and we plan to double the company's net sales by 2017.We will grow by developing new products as well as establishing international partnerships."
We are growing in every part of the energy industry
Akkök Group of Companies continues to grow in the energy industry thanks to its 2012 investments. Akenerji and Akkök predominantly produce energy by relying on renewable energy sources while continuing to distribute power to Kocaeli, Adapazarı, Bolu and Düzce under the umbrella of SEDAŞ. It is planned to invest 320 million Turkish lira to SEDAŞ by 2015.
Ahmet Dördüncü, CEO of Akkök Group of Companies, stated that in 2014 Akenerji would double its total power output capacity, which currently is at 745 MW thanks to the commission of three new hydroelectric power stations in 2012. He said "Once operational in 2014, the 900 MW capacity Egemer Natural Gas Power Station will on its own meet 2.6 percent of Turkey's electricity demand.
He further highlighted that Akenerji, which operates sales and carbon certification for its fourth and completely renewable energy based power station, is also one of the two power companies to disclose all its greenhouse gas emission figures and its climate change policies to the Carbon Disclosure Project (CDP), as part of its sustainability approach.
Akenerji's renewable energy portfolio prevented the emission of around 1 million tons of CO2 while contributing to clean air equivalent to that produced by 42.2 million trees.
Our real estate investments improve the quality of living areas
Dördüncü stated that the Akkök Group of Companies was working on innovative and pioneering real estate projects that would transform into profitable investment instruments of the future: "In 2012, Ak-Al Gayrimenkul Geliştirme and Tekstil Sanayii A.Ş were transferred to Akiş GYO A.Ş., to be merged.Akiş GYO further consolidated its corporate structure to take its place at the BIST Free Trading Platform.Akiş GYO will continue to strengthen its industry pedigree with new projects, right after the opening of the Akasya Shopping and Residential Center and Kidzania, the edutainment child republic, which will open in the third quarter of this year."
Akkök works for a sustainable future
Dördüncü stated that they always put sustainability on the forefront since Akkök was dedicated in investing into the future; he further highlighted their related pioneering position in the energy and chemical industries: "Akenerji is the first company to have registered at the national carbon registry.It is also one of the two Turkish companies to have been included in the Carbon Disclosure Project.Aksa on the other hand is one of the first Turkish companies to have signed the United Nations Global Compact, which pioneers businesses to adopt universal principles for sustainable growth. Aksa was the first and only Turkish chemical company to have been presented with a "C Rating" from the Global Reporting Initiative (GRI) and to be included in the 2011 Global Impact yearbook for exemplary practices."
Dördüncü also stated that the global economy had started to favor companies who showed a more proactive approach to wastewater management: "We believe that water will be a driving force for sustainable economic growth.Combining innovative solutions with its responsibility to nature and society, Ak-kim succeeded in developing groundbreaking products for wastewater treatment and recycling.Ak-kim succeeded in producing Iron(III) chloride, which is used to purify water, by treating waste hydrochloric acid from its own facilities. In 2012, the company recycled around 5,000 tons of hydrochloric acid this way."
Community contribution projects increase with each day
Akkök conducts various projects to improve the social and cultural fabric of the regions it is operating in. Since 2009, it has been conducting the Akkök Firefly Mobile Learning Unit (Ateşböceği Gezici Öğrenim Birimi) in Yalova collaborated with Educational Volunteers Foundation of Turkey (TEGV). The project has contributed to the education of 10,000 children and aims to reach each one of Yalova's children.
Akkök also brought to life Yalova's first Children's Festival in 2012 and starting from November 2012 the company continues to support the Yalova Orthopedic Sports Club (YOSK) which competes in the Wheelchair Basketball Super
League. Akkök built the Raif Dinçkök Cultural Center in 2011 after observing that Yalova lacked a venue for social and cultural events.
Akkök Group of Companies has so far established six schools in various provinces to contribute to the education of children and youngsters. The group will also build a primary school in Van for the next academic year. The group also contributes to the University of Yalova: It will undertake the construction of its rectorate building.