Sabancı Holding increased its net profit by 58.8% in the third quarter

Sabancı Holding achieved a net profit of TL 17 billion 274 million in the third quarter of 2023, 38 percent above market expectations. The holding increased its profit by 58.8 percent on a quarterly basis compared to the same period of the previous year. Sabancı Holding shared its financials for the third quarter of 2023 on the Public Disclosure Platform (KAP). The holding achieved a net profit of TL 17 billion 274 million in the third quarter of 2023, 38 percent above market expectations. The holding, which achieved strong financial results in the third quarter of the year with the impact of both banking and non-banking business lines, increased its profit by 58.8 percent compared to the same period of the previous year. The holding's profit increased by 34.76 percent in 2023/09 compared to the same period of the previous year, reaching TL 36 billion 674 million. With the third quarter financials, Sabancı Holding’s nine-month EBITDA margin was 25.45 percent, net profit margin was 12.48 percent and gross operating profit margin was 40.12 percent. Sabancı Holding acquired 100 percent of Oriana Solar LLC, which consists of a 232 MW solar power plant and 60 MW energy storage facility investment in the US through Sabancı Renewables. It also continued the merger process with its subsidiary Exsa in order to simplify the portfolio. TemsaSkoda Sabancı Ulaşım Araçları AŞ (Temsa), which will become a direct subsidiary of Sabancı Holding after the completion of the Exsa merger, signed a new R&D collaboration agreement in the third quarter to expand its expertise in electric vehicles to include hydrogen-powered intercity vehicles. The Holding also increased its capital by TL 75 million in Sabancı İklim Teknolojileri A.Ş. to finance investment projects, particularly new capacity investments in the field of renewable energy, in line with its international growth plans.