Doğuş Holding Anonim Şirketi and its Subsidiaries

284 Pages·2012·42.12 MB·English

DOĞUŞ GROUP ANNUAL REPORT 2011 01
INTRODUCTION
Under an orchestra; skilled musicians, unified
combination of melodies, well-tuned instruments
present the best music. Success comes when top
players perform the same rhapsody within harmony.
Doğuş Group companies, operating in seven different
business sectors, all have their distinctive characteristics and
high value for the Group. Well-managed Group companies
are just like well-tuned instruments of an orchestra played
by musicians with artistic excellence, i.e., the highly skilled
managers and qualified employees. Each brings out its best
at the right time, at the right dose, each being strong and
pioneer; just like the instruments with unique sounds. It is
perfect, it is rhythmic, and it is disciplined.
As the conductor of a great orchestra, Doğuş Holding
works hard to keep this harmony in order to maintain and
further develop the Group’s remarkable performance over
the years.
Doğuş Group’s utmost objective: Perfect outcome for all
its stakeholders.
In order to achieve this, Doğuş Holding provides the
necessary framework, strategies, support and inspiration
and ensures that every step is taken in line with the Group’s
vision and mission. Doğuş Group aims to maintain its
sustainable growth and maximum contribution to economic,
social and environmental development both in Turkey and in
the regions where it operates.
02 DOĞUŞ GROUP ANNUAL REPORT 2011
DOĞUŞ GROUP ANNUAL REPORT 2011 03
Doğuş Group;
An Orchestra In
Harmony…
Doğuş Group companies,
operating in seven
different business sectors,
all have their distinctive
characteristics and high
value for the Group. Each
brings out its best at the
right time, at the right
dose, each being strong
and pioneer; just like the
instruments in an orchestra
with unique sounds.
04 DOĞUŞ GROUP ANNUAL REPORT 2011
Doğuş Group Structure
Banking&
Financial Automotive Construction Media
Services
Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx
Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx
Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx
Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx
Xxxxxx
Corporate Responsibility
DOĞUŞ GROUP ANNUAL REPORT 2011 05
Real
Tourism&Services Energy
Estate
D Energy
Doğuş Energy
Artvin HEPP
D-TES Electricity
Whole Sale Co.
06 DOĞUŞ GROUP ANNUAL REPORT 2011
Operational Map
Croatia
D-Marin Mandalina Marina
Romania
Garanti Bank Romania-Headquarters &
76 Branches
SC Motoractive Credit SA
Ralfi IFN SA
Domenica Credit SA
Bulgaria
Doğuş Construction&Trade Inc.
The Netherlands
GBI-Headquarters
UK
Garanti Bank-Representative Office
Doğuş Int.
Germany
Garanti Bank-Representative Office
GBI Branch
Luxembourg
Garanti Bank-Branch
Morocco
Doğuş Construction&Trade Inc.
Switzerland
GBI-Representative Office
D-Auto Suisse SA-Lausanne
Doğuş SA-Geneva
Dubai
Malta
Doğuş Management
Garanti Bank-Branch
Services Ltd.
Libya
Doğuş Construction&Trade Inc.

Turkish Republic
Ukraine
of Northern Cyprus
GBI-Representative Office
Garanti Bank-4 Branches
Doğuş Construction&Trade Inc.
DOĞUŞ GROUP ANNUAL REPORT 2011 07
Russia
GarantiBank Moscow-Headquarters
Garanti Bank-Representative Office
Kazakhstan
Doğuş Construction&Trade Inc.
China
Garanti Bank-Representative Office
08 DOĞUŞ GROUP ANNUAL REPORT 2011
Financial and Operational Highlights
Despite the challenges faced by the global economy in 2011, Turkey managed to achieve
one of the most successful budgetary performances in recent years. With its strong financial
structure and future-oriented vision, Doğuş Group also attained a successful performance and
completed the year with very satisfactory results.

Key Financial Indicators (TL thousand)
2008 2009 2010 2011
Total Assets 37,894,960 42,923,044 49,285,930 51,147,438
Total Shareholders’ Equity 5,556,161 6,728,866 7,701,796 9,864,793
Revenues 6,950,442 7,819,616 8,654,592 9,929,164
Net profit for the year 437,145 782,887 966,015 2,691,764
Gross Profit 1,982,175 2,667,310 2,744,273 2,551,956
EBITDA 1,177,524 1,329,406 1,667,054 3,737,556
Principal Performance Ratios (%)
2008 2009 2010 2011
Gross Profitability 29 34 32 26
Net Profitability 6 10 11 27
Ebitda Margin 17 17 19 38
ROA-Return on Assets 1 2 2 5
ROE-Return on Group Equity 8 12 13 27
Total Assets by Segment 2011 Total Revenue by Segment 2011
Media 3% Others 1%
Tourism 3% Media 3%
Construction 2% Tourism 2% Automotive 51%
Automotive 4%
Construction 7%
Others 12%
Financial Services 76% Financial Services 36%