Haci Omer Sabanci Holding A.s. · BIST:SAHOL
Haci Omer Sabanci Holding A.s — Hacı Ömer Sabancı Holding A.Ş. — Investor Presentation (October 2023)
70 slides from Haci Omer Sabanci Holding A.s's investor presentation, October 2023
Slide 1: Investor Presentation October 2023
OCTOBER 2023 INVESTOR PRESENTATION
Slide 2: Disclaimer
INVESTOR PRESENTATION Disclaimer The information and opinions contained in this document have been compiled by Hacı Ömer Sabancı Holding A.Ş. (“Holding”) from sources believed to be reliable and in good faith, but no representation or warranty, expressed or implied, is made as to their accuracy, com
Slide 3: Capital Allocation
01 /08 Capital Allocation
Slide 4: Doubling CAPEX to accelerate organic and inorganic growth
CAPITAL ALLOCATION Doubling CAPEX to accelerate both organic and inorganic growth… DOUBLING CAPEX | 25/75 SPLIT BETWEEN CORE & NEW INVESTMENTS Invest in New Platforms Grow and Protect the Core Increasing share of new economy in nonbank CT INV combined revenue : T E ES Strengthen our market leading p
Slide 5: Coherent strategic plan on core and new platforms
CAPITAL ALLOCATION …with a coherent strategic plan on core and new platforms We unite Türkiye and the World Purpose for a sustainable life with leading enterprises Strategic Agile global / local footprint Future-ready Digital & AI transformation Innovation for growth Sustainability for a better life
Slide 6: 77% of investments to new economy
CAPITAL ALLOCATION Continuing to deliver on our strategic initiatives: 77% of investments to new economy Dynamic Portfolio Management Turkey’s 1st Green Hydrogen: Digital Investment: Climate Tech & Renewable Energy in the USA: R&D Project for Turkey's first hydrogen Production and use of green hydro
Slide 7: Recent Acquisitions
02 /08 Recent Acquisitions
Slide 8: Investing in new economy for a major transformation
RECENT ACQUISITIONS Investing in new economy for a major transformation in Sabancı Group Energy & Climate Technologies Advanced Material Technologies Digital Technologies Renewables Electrification Sustainable Telematics Chemicals loT 4.0 Cybersecurity Digital Marketing E-mobility Digitalization Lig
Slide 9: Leveraging core capabilities in the Energy SBU
RECENT ACQUISITIONS It is time to leverage core capabilities in the Energy SBU & expand the business to create higher value for all stakeholders We lead energy and climate transition by bridging the gap between emerging and developed markets Sabancı Climate Technologies, wholly owned subsidiary of S
Slide 10: USA as 2nd largest renewable market and venture ecosystem
RECENT ACQUISITIONS USA came to the fore with the attraction of being world’s 2nd largest renewable energy market & the largest corporate venture ecosystem Facts on Renewable Energy Investments USA is the 2nd largest renewable energy market following China. Solar Resource Potential Wind Resource Pot
Slide 11: Further on-shore wind and utility-scale solar investments
RECENT ACQUISITIONS Further investments are ongoing in on-shore wind and utility-scale solar projects to reach 1000 MW of portfolio size by 2025 under Sabanci Renewables Sabancı Renewables Deal Flow in the Last 6-Months Focused Investment Target Technologies Target Geographies Approach On-shore wind
Slide 12: First solar investment in Texas: Cutlass II
RECENT ACQUISITIONS The first solar investment in Texas has been initiated, which offers a variety of opportunities for the future growth… 272 MW Cutlass II Solar Power Plant Project Project Acquisition: October’22 EPC Agreement with Bechtel: October’22 Construction Start (FNTP(1) to Bechtel): Janua
Slide 13: Second solar investment in Texas
RECENT ACQUISITIONS …and the second solar investment has also initiated in Texas, leveraging the know-how acquired during the initial solar project Market potential for Close to the major load centers of proxy businesses in 232 MW Houston and Corpus Christi, anticipated Texas West Solar Power center
Slide 14: Sabancı Climate Ventures innovation ecosystem
RECENT ACQUISITIONS Sabancı Climate Ventures will create extended innovation ecosystem & enable early access to disrupting technologies… Sabancı Climate Ventures is a necessity to Value Proposition to Start-Ups position for the future and not competing with Acceleration, piloting, and commercializat
Slide 15: Investments in climate technologies fund and start-ups
RECENT ACQUISITIONS ….via the investments in climate technologies fund & investments directly to start-up companies Invested in a venture fund with a Coming out of MIT's Plasma Coming out of MIT and reached a Founded in San Francisco in 2021 portfolio of start-ups from seed to Science and Fusion Cen
Slide 16: Step toward +5,000 MW installed capacity target
RECENT ACQUISITIONS A significant step towards +5,000 MW installed capacity target has been taken Installed Generation Capacity Mix(1) 1000 MW YEKA-2 Wind Power Plant Investment (USD 1.2 bn) ÇANAKKALE Currently 2026 250 MW BALIKESİR Renewables Natural Gas 250 MW 45% 43% 32% AYDIN 1.000MW Total Wind
Slide 17: Creation of a global digital business with acquisitions
RECENT ACQUISITIONS Creation of a global digital business with acquisitions Dx Technology Services and BV (DxBV), a wholly owned subsidiary of Sabancı Holding and established in the Netherlands, will undertake Investment Sabancı Group’s investments in digital businesses. Cyber Security Digital Marke
Slide 18: Global players in mobility market
RECENT ACQUISITIONS Global Players in Mobility Market Expansion in Composites Growth in New Mobility Solutions Microtex: Arvento: CT INV T E ES O PLA T PR ORE T Acquired by Kordsa Acquired by Brisa IN RMS TH & FO EC W NE GRO Deal Size: EUR24.6mn Deal Size: ~EUR22mn (1) W Product and geographic diver
Slide 19: Sustainability
03 /08 Sustainability
Slide 20: Prioritizing ESG to transform our portfolio
SUSTAINABILITY Prioritizing ESG to transform our portfolio for the future… Foster Sustainable Act on Climate Business Models Emergency 11% Reduction in Scope 1 and 2 GHG emissions(1) 3.3x Renewable 31% Total water reused (1) electricity usage (1) Green hydrogen pilot More renewable electricity 1st p
Slide 21: Improving our ESG performance further
SUSTAINABILITY ...while improving our ESG performance further MSCI Rating A 2023 2022 2022 MSCI 13.9 BBB Bloomberg GEI Sustainalytics 3 notches increase in BB First and Only Low ESG Risk 3 years B Conglomerate from Low Risk In Diversified Financials Category Türkiye to be included twice in a row A J
Slide 22: Improving Corporate Governance Framework
SUSTAINABILITY Improving Corporate Governance Framework Shareholder Structure 9 BoD members (3 Independent) Board Members 56% non-family, 44% women Sabancı Family 49.6% Early Detection of Risk Assumes some of the roles of the Portfolio Committee Corporate Management Committee, terminated in Governan
Slide 23: Sustainability Roadmap
SUSTAINABILITY Sustainability Roadmap Act on Climate Emergency 01 Maximize Positive Impact 02 Foster Sustainable Business Models 03 Become 'Net Zero Emissions’ and 'Zero Waste' by 2050 at the latest Create shared value for all stakeholders, Develop innovative products, services with social programs
Slide 24: Adapting to the Future of Work
SUSTAINABILITY Adapting to the Future of Work Smart Mental & New Talent TL 200 MN Flexible & High Work Physical Health Performance Workforce & Skill Paradigm Planned Investment Within 2 years Leadership Purpose Driven Digital & Agile 1,500+ Planned Actions for 2021-2023 Organization and Culture Orga
Slide 25: Operational & Financial Performance
Operational & & : Financial Performance 04 /08
Slide 26: Group's global footprint and business partners
OPERATIONAL FINANCIAL PERFORMANCE Sabancı Group continues to grow with its solid global footprint, thousands of employees and prominent global business partners UK Germany Hungary Türkiye 6 Business Partners Netherlands Spain 14 USA Countries Cyprus France 60K+ Thailand Malta Brazil Italy Indonesia
Slide 27: Complementary business units with increasing share of non-bank
OPERATIONAL & FINANCIAL PERFORMANCE Complementary business units with increasing share of non-bank NAV(1) Breakdown Bank Bank Digital ROE: ROE: 2% 13.6% 34% 39.0% Retail 4% 44% Energy Consolidated 16% ROE: Bank Consolidated 37.8% 41% ROE: Listed NAV: 13.7% Building USD 4.1 bn Materials 16% Non-Bank
Slide 28: Strong results with improved earnings quality
OPERATIONAL & FINANCIAL PERFORMANCE Strong set of results achieved with an improvement in earnings quality driven by both bank and non- bank businesses… Combined Revenue(1) (TL Bn) Combined EBITDA(1) (TL Bn) Consolidated Net Income(1) (TL Bn) Non-bank Bank Non-bank Bank Non-bank Bank CAGR: Y/Y: CAGR
Slide 29: Improving ROE and strong cash generation
OPERATIONAL & FINANCIAL PERFORMANCE …coupled with a continuous improvement in ROE & exceptionally strong cash generation at operating level… Return on Equity (ROE) (1) Operational Cash Flow, Combined for Non-Bank (2) (TL bn) Bank ROE Consolidated ROE Non-Bank ROE 28.7 13.7% 13.1% 17.1% 23.9% 31.1% 2
Slide 30: Healthy balance sheet at or below 2x
OPERATIONAL & FINANCIAL PERFORMANCE …& by maintaining a healthy balance sheet Holding Only - Net cash position (TL bn) Combined Net Financial Debt to Non-Bank EBITDA (1) 2.3x 2.2x 5.5 Midterm Guidance: 4.5 ≤ 2x 1.5x 1.3x 3.1 1.2x 2.6 2.5 1.7 0.5x 1.1 0.4x 2018 2019 2020 2021 2022 H1 2022 H1 2023 201
Slide 31: Sustainable dividend growth and capital allocation
OPERATIONAL & FINANCIAL PERFORMANCE Sustainable dividend growth and effective capital allocation DPS (TL) Share Buy-Back Program (TL bn) Non-bank Capex/Sales(2) Dividend Yield (%) (1) 4.41 4.27 4.42 3.82 3.79 +86% 2.87 ~14.0% 1.75 >2x 3.25 10.3% +42% 8.6% 7.3% 7.4% 6.6% 0.75 1.75 0.33 0.35 0.30 0.30
Slide 32: NAV & Stock Performance
05 /08 NAV & Stock Performance
Slide 33: Improving NAV discount despite asset value growth
NAV & STOCK PERFORMANCE Improving NAV discount in the long-run despite solid growth in asset value in USD terms NAV (USD mn) (1) & NAV (1) Discount NAV (1) Bridge 43% 6,703 5,706 5,095 3,987 3,567 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 -26.6% -26.1% -28.8% -28.6% -35.1% +6pp Average NAV Discount: L
Slide 34: Shifting towards more balanced portfolio
NAV & STOCK PERFORMANCE Shifting towards more balanced portfolio NAV Breakdown Based on Book Value NAV Breakdown Based on Independent Valuation(2) Cash Cash Other(1) Other(2) 3% 3% 6% Digital 6% Digital Technologies Technologies 3% Banking & Financial Banking & Financial 4% Services Services 36% 27%
Slide 35: SAHOL trades at discount to historical P/E averages
NAV & STOCK PERFORMANCE Despite rerating SAHOL shares continue to trade at a material discount to its historical P/E averages Stock Relative-Performance (USD basis) Earnings Per Share vs. Price/Earnings(1) SAHOL BIST 30 EPS P/E 250 5.1 4.9 4.0 2.2 2.1 2.0 200 1.5 164 21.5 158 150 100 9.5 8.1 5.9 1.9
Slide 36: Strategic Business Units
06 /08 Strategic Business Units
Slide 37: Energy SBU: strong profitability
ENERGY SBU Strong profitability prevailed in both businesses despite natural gas plant stoppages & lower spot prices AYEDAŞ Distribution 14 12.1 mn 22 mn & Retail BAŞKENT Cities Connections Population Ankara (Başkent) 10.4 mn 39.2 TWh 321,332 km Customers 2022 Sales Volume Network Adana 4 HEPP Gazia
Slide 38: Energy SBU Financial Performance
ENERGY SBU Financial Performance Combined Revenue (TL Bn) Combined EBITDA(1) (TL Bn) & EBITDA(1) Margin Combined Net Income(1) (TL Bn) CAGR: Y/Y: CAGR: Y/Y: CAGR: Y/Y: 56% 23% 38% 42% 67% 98% 23% 23% 22% 17% 18% 14% 14% 140.5 19.5 11.0 8.5 76.6 12.7 62.1 8.7 8.9 47.0 4.3 4.3 6.8 31.1 5.9 26.0 5.3 3.
Slide 39: Banking: upside potential to 2023 guidance
BANKING Upside potential to 2023 profitability guidance 2023 Guidance 1H23 Outlook TL Loan Growth ~ 40% 22.6% 01 04 Retail driven growth with Taking advantage of sustainable profitability & healthy advanced analytics & FX Loan Growth (in USD) Low-single digit -1.6% market share gains in focus cuttin
Slide 40: Banking Financial Performance
BANKING Financial Performance Capital Adequacy Ratio(1) & Tier 1 Ratio(1) Combined Net Income (2) & Reported ROE Total Asset & Reported ROA (TL bn, %) (TL bn, %) H1 2023 H1 2023 CAGR: Y/Y: CAGR: Y/Y: Excess Capital(1): Excess Tier 1(1): 81% 47% 34% 56% TL 55.7 bn TL 52.9 bn 54.7% 6.2% 17.9% 4.9% 16.
Slide 41: Non-Life Insurance and Pension positioning
FINANCIAL SERVICES SBU Well Positioned in Both Non-Life and Life Insurance Markets Aksigorta Gross Written Premiums Trend (bn TL) CAGR: Y/Y: 41% 102% 3,500+ 6.4% Non-Life Insurance # of Agencies Market Share Leader in 13.6 11.1 3.4 4.5 5.3 7.0 5.5 TL 11.1 bn TL 9.4 bn GWP(2) AuM(3) 2018 2019 2020 20
Slide 42: Financial Services Financial Performance
FINANCIAL SERVICES SBU Financial Performance Combined Revenue (TL Bn) Combined EBITDA(1) (TL Bn) & EBITDA(1) Margin Combined Net Income(1) (TL Bn) CAGR: Y/Y: CAGR: Y/Y: CAGR: Y/Y: 44% 102% 13% 270% 24% 224% 1,516 1,451 17.3 1,194 14.3 999 989 934 845 734 9.0 697 569 6.6 7.1 510 468 5.5 392 414 4.0 2
Slide 43: Türkiye's Leading Exporter
BUILDING MATERIALS SBU Leading Turkish Cement Player Targeting Product and Geographic Diversification for Sustainable Growth Germany Netherlands Türkiye’s Leading 3 4 2 Exporter Integrated Ports Spain Domestic Terminals plants USA Türkiye 9.2 mn ton 25 94% RMC plants Increase in Cement capacity sale
Slide 44: Building Materials Financial Performance
BUILDING MATERIALS SBU Financial Performance Combined Revenue (TL Bn) Combined EBITDA(1) (TL Bn) & EBITDA(1) Margin Combined Net Income(1) (TL Bn) CAGR: Y/Y: CAGR: Y/Y: CAGR: Y/Y: 59% 63% 43% 124% 63% 212% 21% 21% 18% 16% 15% 14% 13% 21.6 3,016 3,085 2,476 1,736 14.4 8.8 1,374 7.9 794 1,060 522 4.2
Slide 45: Tire & Composites Reinforcer
INDUSTRIAL SBU Weakness in tire reinforcement business driven by global recessionary environment offset by strong demand in tire business Germany Tire & Mobility Solutions 1/3 CDP A- 35% of every Passenger Climate Change International Car Tire in Türkiye Category Revenue 112 13.5 Mn 7,300 USA Otopra
Slide 46: Industrial SBU Financial Performance
INDUSTRIAL SBU Financial Performance Combined Revenue (TL Bn) Combined EBITDA(1) (TL Bn) & EBITDA(1) Margin Combined Net Income(1) (TL Bn) CAGR: Y/Y: CAGR: Y/Y: CAGR: Y/Y: 39% 31% 39% 4% 61% -17% 21% 19% 19% 17% 16% 32.5 15% 15% 5.2 3,322 19.4 14.6 3.1 2,023 14.8 2.8 1,837 2.7 1,516 9.7 8.8 8.7 1.6
Slide 47: Technology Retail
DIGITAL SBU Strong demand in electronics retail led to solid top-line growth Technology Retail 65 189(2) 103k sqm Cities Stores Sales Area 51 mn (1) 2,567 Annual Visitors Employees Teknosa E –Commerce Sales Teknosa GMV Panel & Techonline Market Growth (TL mn) (TL mn) (TL bn) 131% YOY Teknosa revenue
Slide 48: Digital SBU Financial Performance
DIGITAL SBU Financial Performance Combined Revenue (TL Bn) Combined EBITDA(1) (TL Bn) Combined Net Income(1) (TL Bn) +123% +77% -32% 15,268 982 212 554 144 6,849 H1 2022 H1 2023 H1 2022 H1 2023 H1 2022 H1 2023 (1) Excludes non-operational and non-recurring one off items
Slide 49: Food & Non-Food Retail
RETAIL SBU Solid top-line growth exceeding inflation Food & Non-Food Retail 48 910 537k sqm Cities Stores Sales Area 40 mn (1) 10,261 Annual Visitors Employees Customer E-commerce Share in Sales(2) Sales Area(2) Number of Stores (2) (mn) (km2) 944 43.2 6.3% 6.3% 4.9% 538.5 18.4% 6.2% 513.3 797 40.7
Slide 50: Retail SBU Financial Performance
RETAIL SBU Financial Performance Combined Revenue (TL Bn) Combined EBITDA(1) (TL Bn) Combined Net Income(1) (TL Bn) +95% +54% 770 14,578 498 -185 7,484 -256 H1 2022 H1 2023 H1 2022 H1 2023 H1 2022 H1 2023 (1) Excludes non-operational and non-recurring one off items
Slide 51: Holding Value Add
07 /08
Slide 52: Innovation & Corporate Venture Capital
HOLDING VALUE ADD Innovation & Corporate Venture Capital 150 ideas in 2 years, 13 Investments in 10 companies (8 in 2022) 2 years, 500 alumni, 10 Launched in Sep’22, Company participants, 45 and deployed ~USD12mn in 3 countries Ideathon projects, 3 15 startups, 20 weeks projects, 75% MVP, 23% Led 20
Slide 53: Investing in Tech-based Start-ups via Sabancı Ventures
HOLDING VALUE ADD Investing in Tech-based Start-ups via Sabancı Ventures 2022 & 2023 Q2 2022 & 2023 Q2 Performance Investments # of Companies #1 local public and private cloud services company in Türkiye USD30Mn Initial Fund Size Preliminary Leading AI-powered virtual screening assistants for e-comm
Slide 54: Corporate Venture Capital Investments and Timeline
HOLDING VALUE ADD Corporate Venture Capital Investments Through Subsidiaries and Timeline Establishment of Invested in Invested in Invested in Sabancı Climate Tech Invested in Safar Partnership Invested in Sabancı Ventures Lumnion Zack.ai Albert Health Partners, CFS and Quasie Energy with ecoLocked
Slide 55: Leveraging Synergies Within Sabancı Ecosystem: Eşarj and solar
HOLDING VALUE ADD Leveraging Synergies Within Sabancı Ecosystem Eşarj The first, fastest Stations Solar Power Plants and largest within the Group in E-charge station Cooperation with network in Türkiye Enerjisa Enerji Investment Plan: TL300mn in 2 years 75K m2 6,226 kWp 10,400 Ground Area Solar Prod
Slide 56: Leveraging Synergies Within Sabancı Ecosystem: bancassurance
HOLDING VALUE ADD Leveraging Synergies Within Sabancı Ecosystem Strong Exclusive bancassurance agreement with Akbank Presence in all physical and digital channels Kordsa & collaboration in Cement Companies Bancassurance Joint vision in Effective Cooperation digital with Akbank governance model Banca
Slide 57: Total Income Package
HOLDING VALUE ADD Management Incentives Recognition, Appreciation Flexible Working Sabancı Group provides a range of and Supportive Practices Career Development Training Support benefits, recognition, appreciation, and Goldan Collar Awards supportive practices to employees that Recognition & Appreci
Slide 58: Management Incentives
HOLDING VALUE ADD Management Incentives Total Cash Distribution Model (%) Sample for a company general manager Short Term Net Sales Net Financial Debt (1-Year) Financial KPIs* EBITDA Working Capital Free Cash Flow Market Share Long Term (maximum) 125 Short Term , (1-Year) Non- Action against the cli
Slide 59: Mid-Term Guidance
08 /08 Mid-Term Guidance
Slide 60: Mid-Term Guidance Maintained
MIDTERM GUIDANCE Mid-Term Guidance Maintained Growth Capital Return Sustainability Mid-term targets(1) CPI + 8% 30%+ Dividend 5%-20% 42% Reduction in policy Revenue growth FX revenue as % of of net income Scope 1 & 2 emissions combined revenue (3) by 2030 Up to 5% of paid-in capital: Share 102mn sha
Slide 61: Appendix
APPENDIX
Slide 62: Portfolio in Continuous Evolution
APPENDIX Portfolio in Continuous Evolution 1940s - 1960s 1970s - 2000s 2000s - 2010s Present and Future Early Growth Phase - Proliferation of Global Refocus Portfolio Growth and Transformation Initial Diversification Partnerships-Conglomeration
Slide 63: Executive Leadership
APPENDIX Executive Leadership Cenk AlperBoard Member and CEO Joined Sabancı Group in 1996. 5 years of international experience in the US and Europe with N.V. Bekaert. Led Kordsa‘s transformation and SPO as CEO. After managing Industrials SBU between 2017 and 2019, appointed as the CEO of Sabancı Hol
Slide 64: Overview of Corporate Structure
APPENDIX Overview of Corporate Structure BANKING & FINANCIAL ENERGY RETAIL BUILDING MATERIALS INDUSTRIALS DIGITAL SERVICES SAHOL: 40.0% SAHOL: 57.1% SAHOL: 39.7% SAHOL: 40.7% SAHOL: 71.1% SAHOL: 49.0% E.ON: 40.0% Carrefour: 32.2% Heidelberg Materials: 39.7% Other: 8.4% Free Float: 28.9% DxBV: 51.0%
Slide 65: Reporting
APPENDIX Reporting Combined Net Sales EBITDA Net income Subsidiaries line by line line by line line by line Joint Ventures line by line line by line line by line Consolidated Net Sales EBITDA Net income Subsidiaries line by line line by line line by line Joint Ventures Not included Proportion of own
Slide 66: Dividend Performance
APPENDIX Dividend Performance TLmn 2018 2019 2020 2021 2022 2023 Akbank 652 - - 255 494 3,666 Akçansa 51 61 18 42 36 99 Aksigorta 40 73 73 110 - - Agesa 19 40 64 64 - 60 Brisa - - 12 107 270 479 Carrefoursa - - - - - - Çimsa 33 - - - 109 218 Kordsa 48 48 35 - 114 41 Teknosa - - - - - - Yünsa - 3 - -
Slide 67: Financials in detail
APPENDIX Financials in detail Combined Revenue(1) Combined EBITDA (2) Consolidated Net Income (3) MILLION TL Q2 2022 Q2 2023 Change H1 2022 H1 2023 Change Q2 2022 Q2 2023 Change H1 2022 H1 2023 Change Q2 2022 Q2 2023 Change H1 2022 H1 2023 Change TOTAL 92,215 134,115 45% 162,867 258,563 59% 26,039 3
Slide 68: Sabancı Holding Current NAV & Cash Breakdown
APPENDIX Sabancı Holding Current NAV & Cash Breakdown USDmn June 2023 December 2022 NAV Discount Valuation Value to Sabancı % of Value to Sabancı Companies Free Float Direct Stake Mcap % of NAV Method Holding NAV Holding Akbank 52% 41% Market value 4,068 1,658 32.5% 2,216 33.1% June 2023 December 20
Slide 69: Sabancı Holding NAV After EY Valuation Report
APPENDIX Sabancı Holding NAV After EY Valuation Report USDmn June 2023 Companies Free Float Direct Stake Valuation Method Mcap Value to Sabancı Holding % of NAV Akbank 52% 41% Market value 4,068 1,658 24.5% Enerjisa Enerji 20% 40% Market value 1,601 640 9.5% Aksigorta 28% 36% Market value 223 80 1.2
Slide 70: Investor Relations Contacts
INVESTOR RELATIONS CONTACTS Kerem TEZCAN Investor Relations Director Meet SirA, Sabancı Holding's digital Şule GENÇTÜRK KARDIÇALIOĞLU Investor Relations Manager investor relations assistant ! Emine DALAN Turkey’s First Investor Relations Investor Relations Specialist Dedicated Assistant ! Hamza SÜME
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