Sabancı’s fourth quarter profit exceeded expectations
Sabancı Holding achieved a net profit of 16.6 billion TL in the 4th quarter of 2022, above the market expectation of 10.6 billion TL.
With the last quarter profit, the net profit of the holding for 2022 increased to 43.8 billion TL. The net profit of the holding in the whole of 2021 was at the level of 12.0 billion TL.
Sabancı Holding’s total assets reached 1 trillion 246 billion TL at the end of 2022, an increase of 52 percent compared to the end of 2021, while the total equity of the consolidated parent increased by 96 percent to 100.8 billion TL.
The consolidated revenues of the holding increased
Consolidated revenue growth at Sabancı Holding reached 152 percent annually in the fourth quarter, with growth rates well above inflation in all business lines.
In 2022, the Holding achieved a consolidated revenue of over 400 billion TL, which corresponds to an annual growth of 168 percent.
Consolidated EBITDA increased more than 3 times in the fourth quarter compared to the same period of the previous year, especially with the significant contribution of the banking business line within the holding. In the whole of 2022, consolidated EBITDA increased by 242 percent on an annual basis and reached TL 112 billion.
Non-bank operational cash flow more than doubled in 2022, reaching TL 28.7 billion. While the decrease in indebtedness continued, the non-bank net debt/EBITDA ratio was 0.4x as of the end of 2022. This rate was 1.2x at the end of 2021.
The strong performance in consolidated return on equity was sustained by the bank’s sharp return on equity to 54.7 percent in 2022 and continued improvement in non-bank return on equity.
Sabancı Holding also decided to pay a gross cash dividend of TL 1.75 and net TL 1.575 per share from the profit of 2022, with the statement made today. The dividend will be paid on April 5th.