Baris Oran on consumer demand
From Sabancı Holding CFO Barış Oran / Bloomberg UK - Bloomberg Surveillance · · Sabancı Holding
“Looking forward into 2021, I still see robust consumer demand although it's normalizing. Demand for our products and services in the European Union, U.S., and especially Asia is increasing rapidly and I think it's going to be a great year as the global economy reboots itself.”
On , Baris Oran, Chief Financial Officer at GXO LOGISTIC INC, spoke about consumer demand during Sabancı Holding CFO Barış Oran / Bloomberg UK - Bloomberg Surveillance on Sabancı Holding.
About Baris Oran
In a September 2021 interview with Bloomberg UK, Barış Oran, then Chief Financial Officer of Sabancı Holding, discussed the company's performance and outlook. Oran stated that the company had a "solid year in 2020," increasing EBITDA by 23% and net profit by 34%, and that it had committed to retaining all employees. He described the company's debt-to-EBITDA ratio as "down to one and a half times" and said operating cash flow had doubled over the prior two years, adding that the company did not have a "cash shortage." Oran outlined investment priorities including renewables, electric vehicle charging stations, flexible electronics, and the fuel cell industry, as well as broader digitization and IT services such as cybersecurity. He said the company had set a target to "double the new economy's share within the group." Regarding the Turkish economy, Oran noted that "orthodox policies" implemented by the new economic administration had improved business and consumer confidence, and he predicted GDP growth for 2021 would exceed the average estimate of 4%. He also indicated that Sabancı Holding would consider divestitures and further listings of its enterprises "to crystallize value for all of our shareholders."