Racking up 6.5 billion Turkish Liras ($762.2 million) in revenues with an increase of 47 percent year on year in the first half of 2021, Doğan Holding has increased its cash pile, according to a company statement sent to the Public Disclosure Platform (KAP) on Aug. 18.
The prominent Turkish conglomerate’s gross profits soared 61 percent to 818 million liras ($96 million), while its earnings before interest taxes depreciation and amortization (EBITDA) rose 64 percent to 551 million liras ($64.6 million).
Benefiting from higher operating margins and investment incomes, Doğan Holding increased its net profits from 589 million liras in the first half of 2020 to 631 million liras ($74 million) in the January-June period of this year, according to the statement.
“Our consolidated net cash rose 28.5 percent since the end of last year to 3.1 billion Turkish Liras [$363.5 million], while net cash amount increased 42.2 percent to 3.8 billion liras [$445.7 million],” said Doğan Holding CFO Bora Yalınay.
Çağlar Göğüş, Doğan Holding CEO, said that the group’s companies doubled their EBITDA margins in fuel distribution and industry segments. Automotive retail sales and internet service revenues also jumped significantly, he said.
The conglomerate’s new investment bank, D Yatırım Bankası, launched its operations on May 21, he added.
Hurriyet Daily News