Borusan has recently announced its 2022 results, strategy and investment plans for the upcoming period. Having generated a turnover of TL 106 billion in 2022 activity period, Borusan has achieved an EBIDTA of TL 14 billion. For the 2023-2025 period, Borusan plans to scale up its investments as high as TL 39 billion.
Borusan Holding has recently released its business results for the year 2022, which indicate that it has continued solidifying the Group’s financials. Having generated a turnover of TL 106 billion in 2022 business period, Borusan has achieved an EBIDTA of TL 14 billion.
Growing investments
Noting that 2022 yielded fruitful results for them, Borusan Group CEO Erkan Kafadar suggested that their focus for the past year was promoting growth. Underlining that all Group companies had taken major steps, Kafadar explained that they were working on a strategic plan designed to carry Borusan 200 years ahead. “We continue to work on the 4 focus areas we have identified as part of our growth approach, i.e., transforming and improving core business areas, achieving growth in closely related business areas, taking up new business areas, and creating value through our corporate venture capital.” he added. Indicating that Borusan would pursue an investment plan of TL 39 billion until 2025, Kafadar emphasized that the priority for the next period was ensuring profitable growth. “In view of the business areas in which we operate, we plan to invest TL 23.1 billion in production, TL 5.9 billion in the energy sector, TL 2.8 billion in the logistics sector, TL 2.3 billion in machinery and power systems, and TL 4.9 billion in the automotive sector.”
Growth strategy
Committed to seizing each and every opportunity that would boost its ambition for target and potential markets as part of its sustainable growth strategy, Borusan continues to grow thanks to the investments it makes through its Group companies.
Following the acquisition of Berg Pipe for USD 162 million, Borusan Mannesmann now owns 4 facilities in the United States, and the total production capacity of the company in the Unites States is expected to reach 1 million tons and it will generate a turnover of around USD 1 billion in the United States. Making preparations to establish a new facility in Romania through an investment of approximately EUR 15 million, Borusan Mannesmann will be operating in the automotive industry with this new investment which will help consolidate the company’s position across Eastern Europe.
Working to use renewable energy sources to generate energy in adherence to the European Green Deal harmonization efforts, Borçelik plans to establish a galvanizing plant with a capacity of 500 thousand tons for the automotive industry. This is how it plans to expand its market share across the growing industries of automotive and white goods.
Türkiye's largest WPP-SPP hybrid facility
Borusan EnBW Enerji has been taking major steps in the field of renewable energy. Within the scope of the company’s investment plan, the project for ensuring a capacity increase of 36 MW at Balabanlı WPP facility, the 80 MW Pelit WPP project as well as the efforts for the development of the 94 MW solar power plant that would convert the facility to be commissioned in Saros WPP into a hybrid power plant, are under way. This is how Saros WPP will become Türkiye's largest WPP-SPP hybrid facility.
Moreover, having obtained an electric vehicle Charging Network Operator license from the Energy Market Regulatory Authority within the scope of the Charging Service Regulation, Borusan EnBW Enerji is also working on establishing a fast-charging network. Committed to providing its customers with an entirely clean, rapid and user-friendly, flawless charging experience structured in accordance with the latest technological standards, Borusan EnBW Enerji aspires to become a leading operator across the sector, offering an extensive fast charging network with 7 thousand service points.
2030 targets for the focus areas of climate, human and innovation
Having integrated its sustainability efforts with its business strategy back in 2020, Borusan continues its complementary efforts across the focus areas of climate, human and innovation.
In 2022, owing to its sustainability efforts within the focus area of climate, Borusan prevented 1.1 million tons of carbon emissions and recovered 130 thousand tons of waste materials and 350 thousand tons of water. In addition, it implemented a sustainable procurement policy with a view to raising awareness on sustainability among its stakeholders and suppliers.
Having carried out 24 social contribution projects under the heading of human, Borusan provided support to 3,771 students. The group published a book called Eşitliğe Adanmış 10 Yıl (10 Years Dedicated to Equality) which incorporates inspiring stories on how the company’s work in the field of gender equality touched the lives of its stakeholders. It has established the Borusan Equality School. Borusan also focuses on transforming its corporate culture that would carry the Group into the future.
Borusan implemented 62 robotic process optimization projects and applied for 26 patents in 2022 under the heading of innovation, and provided more than USD 126 million in cost benefits. In addition, for the year 2023, the Group’s plan is to invest TL 1.3 billion in the digital field. Borusan Sustainable Benefit Program is designed to support projects that hold great potential for bringing sustainable and innovative solutions to social issues, in line with social impact and sustainability priorities.
Group companies have also made green financing of TL 2.2 billion available for sustainability efforts, thanks to which they can take action more rapidly. Borusan EnBW Enerji will be using its green loan support for renewable energy investments and new business areas. Furthermore, Borusan Cat Kazakhstan has obtained a loan from the EBRD with the aim to promote efficient resource management as part of circular economy. Borusan EnBW Enerji will direct the funding support it has received from the EBRD to expediting its investments in the renewable energy sector and new business areas as well as taking action to close the employee gap in the sector and promoting gender equality. Borusan Automotive Group, on the other hand, will use its green financing loan to fund electric and hybrid cars.