Message From The CEO

As Akkök Holding, we successfully left behind a difficult year with prudent planning, competitive understanding and determined financial management.

We have not stopped working in the fields of sustainability, innovation and production technologies, which we see as the locomotive of our growth strategy that we have adopted since the day we were founded. Our companies, each of which is a leader in its sector with its sustainability and innovative production technologies, closely follow all new developments and trends in the world and successfully carry out their own processes with the concept of Industry 4.0.

Aksa Akrilik, the world’s leader and Turkey’s only acrylic fiber producer, is starting to invest in a new yarn facility with a production capacity of 7,000 tons in line with its growth targets. The facility, which has a budget of USD 45 million, is targeted to be commissioned by the end of 2024. Aksa will be the leading manufacturer in this field. DowAksa, a 50% subsidiary of Aksa and one of the world’s leading carbon fiber producers, made an investment of approximately USD 100 million to commission the third production line to be established to produce carbon fiber, which is mainly used in wind turbines. With this investment, which will meet the rising global clean energy demand with local production, we aim to achieve a significant increase in capacity.

Turkey’s leading chemical producer Akkim Kimya laid the foundations for an epoxy plant investment of USD 100 million in 2022 in line with its sustainable growth targets. The facility, which will have an annual production capacity of 100,000 tons, will start to produce epoxy resins (liquid/LER and solid/SER), Epichlorohydrin (ECH) and pure glycerine as of 2024. Akcoat, which is one of Akkim’s subsidiaries and produces in 5 different categories including enamel, ceramic, glass, non-stick - decorative coatings and pigment, has put into operation its new R&D Center, established on an area of 6,000 m² in Sakarya, to develop value-added products in the field of coatings.

Within the scope of R&D activities, which is our other priority area, the “Akkök R&D Summit” was held for the first time this year at Akcoat’s new R&D Center, and our companies’ future production technology development and innovation targets were evaluated. Within the scope of our R&D activities, our group companies have made 165 patent applications and 88 design registrations in 50 different product groups over the last 3 years.

Distinguished by the diversity and quality of its portfolio structure in the real estate sector, Akiş REIT closed 2022 with an occupancy rate of 98% in both Akbatı and Akasya shopping malls. This year has also been a year in which our Company strengthened its start-up investments. For example, our Pulpo AR investment was sold to the US-based augmented reality company Glimpse Group, with an exit performance of more than twice the initial investment value. We are preparing to celebrate the 30th anniversary in 2023 of Akmerkez Shopping Mall, which closed the year with an occupancy rate of 98%.

Akenerji, our power generation company with an installed capacity of 1,224 MW, has more than doubled its EBITDA despite the volatile year the whole world has gone through. Continuing its activities at a healthy debt level, the Company also continues its research to add sustainable energy projects with high efficiency and profitability to its portfolio.

Partnership negotiations were completed for the sale of 50% of CEZ shares of AKCEZ, our electricity distribution and retail sales company, to Torunlar Enerji and Başkent Doğalgaz, and a shareholders’ agreement was signed in December 2022. The share transfer process is planned to be completed in 2023. With this partnership, we will strengthen our position among the sector leaders by becoming even stronger in the energy sector. We will maintain our uninterrupted, safe and innovative service approach by strengthening our service standards.

In 2022, we also started our corporate venture capital (CVC) activities, which we call “Akkök Next”. Our fund, which will invest in various start-ups in areas such as materials and retail, in addition to the chemistry and energy sectors, which are the main sectors in which Akkök operates, is planned to be operational in 2023.

In 2022, at Akkök Holding, we grew our combined turnover to TL 78.5 billion. In addition, we have reached an export figure of TL 13 billion by maintaining the share of our exports in total turnover.

In 2023, we will continue to follow value-added technologies in our three main fields of activity, chemistry, energy and real estate, prioritize innovative management approach and closely monitor global trends.

Our investments, which will enable the development of new technologies in our country and support domestic production, as in every year will be at the top of our strategic goals in the coming periods.

I would like to extend my sincere thanks to all our stakeholders, employees, business partners and shareholders who have supported us.


İ. Gökşin Durusoy

Member of the Board of Directors and CEO

Distinguished from its competitors in the real estate sect