Baris Oran on financial performance
From Sabancı Holding CFO Barış Oran / Bloomberg UK - Bloomberg Surveillance · · Sabancı Holding
“We had a really solid year in 2020 where we were able to improve our top line, increase our EBITDA by 23% and increase our bottom line by 34%. Earlier on we made a commitment to our employees that everybody is going to keep their jobs so that we were able to focus on business continuity and keep the economy running.”
On , Baris Oran, Chief Financial Officer at GXO LOGISTIC INC, spoke about financial performance 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."