Port and Energy Increased Global Turnover in Global: Global Investment Holdings consolidated its consolidated turnover as 2013 million TL and consolidated EBITDA as 247,3 million TL. Global Investment Holdings (GYH or Group) reached 190,0 million TL revenue in 2013 with an increase of 166,3 by 49 million TL compared to last year.
GYH announced its 2013 financial results. According to the statement, the consolidated turnover increased by 49 compared to the same period of the previous year and increased from 166,3 million TL to 247,3 million TL. 2013 emphasized the growth of all sectors in which the group operates, while consolidated revenues have been contributed by the Port and Energy departments.
In addition, GYH stated that the 2013 depreciation, interest and tax profit (EBITDA) amounted to 109,7 million TL including 190,0 million TL goodwill income resulting from Bar Port, Naturelgaz and Straton purchases. In 2012, this amount was recorded as 163,0 million TL, including 208,3 million TL revenue from asset sale.
It has been announced that the revenues of the port operators, which have an important place in the group's operations, increased by 2013% in 2012 compared to 17, reaching 149,0 million TL. It was stated that commercial port activities, especially the strong operational performance of Antalya Port, were effective in this increase. It was stated that the normalized EBITDA of the port segment (excluded from one-off project expenses) increased from 2013 million TL to 80,2 million TL in 93,9 compared to the previous year.
2013 revenues of the energy segment consisting of compressed natural gas and feldspar sales were announced as 63,3 million TL. EBITDA of the segment was 2012 million in 3,1 compared to 2013 million TL EBITDA recorded in 53,1. Segment 2013 EBITDA includes negative goodwill amounting to TL 54,5 million as a result of asset acquisition in June. In 2012 this figure was realized as 12,8 million TL.
Finally, GYH announced a net profit of 2013 million TL in 108,4 against the previous year's 29,1 million TL net profit. The main reason for this decrease is the 46,9 million TL foreign exchange rate difference and long-term loans resulting from the group's acquisition of 60,0 million TL depreciation / amortization expenses. In addition, the decrease in tax revenues due to dividend distribution in 2013 decreased by 15,4 million.
Kerem Eser, Chief Financial Officer of GYH, commented on the significant developments of the previous year and stated that the Share Repurchase Program was completed at the end of 2013 and that the 9,24 share, which represents the 20.791.765 of the Company's capital, was withdrawn. In addition to the 2013TL / share dividend paid to the GYH partners in 0,05940 through the Buyback Program, it has distributed cash to its investors 0.1443TL per share.
In addition, referring to the international port purchases in 2013, Eser stated that, after its undisputed success in Turkish ports, the Port Division focused on inorganic growth abroad. “In this context, the Department has completed the acquisition of 62% of the Port of Bar and 43% of the Port of Barcelona with the RCCL partnership. This acquisition was very important for the group, it is the first time that a Turkish company acquired a majority share in a port abroad with this privatization.
Kerem Eser stated that they are satisfied with the cash performance of the Group. Eser stated that all business lines of the Group created positive cash flows in 2013. Finally, Eser emphasized that the Group will continue to focus on profitability and sustainable cash dividend flow from energy, mining and real estate investments.