The 2023 financial results and comparative periods of Çimsa, a subsidiary of Sabancı Holding, include the effects of business combinations and restatement effects in line with inflation accounting based on the share increase in Sabancı Building Solutions BV. According to the revised financial statements, Çimsa’s EBITDA increased by 72% to TL 3.7 billion. With the exclusion of the impact of asset sales in the previous year, the net income for 2023 increased by 37% to TL 3.1 billion.
Çimsa CEO’su Umut Zenar said, “We completed 2023 with successful financial results. We shared our financial performance with the transfer of 10.1% of Sabancı Building Solutions shares to Çimsa, which was completed last December in Türkiye and abroad with our stakeholders for the first time with the 2023 year-end financials. Çimsa reached a turnover of approximately TL 20 billion with this transaction. As of 2023, approximately 57% of our turnover has consisted of foreign currency-based sales. As one of Türkiye’s international brands, we continue our global journey with our value-added customer-specific products such as white cement and CAC in the world and our sustainable growth target.”
Umut Zenar emphasized that Çimsa is one of the world’s leading companies in white cement and CAC (Calcium Aluminate Cement) and said:
” We commissioned our new production facility, which was realized with an investment of 45 million dollars at our Mersin plant, after the successful completion of trial production and testing processes to supplement our CAC products, which we produce with resources from our own raw material fields. We doubled our CAC clinker production capacity with this new facility and became the third largest CAC producer in the global market. As Çimsa, our goal is to transform into an advanced technology building materials company. In this context, our CAC product range serves as a bridge. As the only CAC producer in Türkiye, we will reach our CAC and value-added product customers directly from the Sabancı Technology Center in Munich to make the most efficient use of our increasing production capacity. In addition, we will continue to offer tailor-made solutions to the needs of the industry by countering technical support needs through this center. We will be closer to the markets and provide a more effective service with CAC and value-added products by reaching customers who use these products directly.”
Indicating that for the last three years the company had focused on optimizing their operations and being close to the market and customers by increasing their on-site production competence, Zenar said, “In this context, in addition to our investment in the US gray cement grinding plant, which will have an average grinding capacity of 600 thousand tons per year, we continue to focus on new investment opportunities that will extend our operations beyond the borders of our country and make our company an important player in the markets where we operate.”.
About Çimsa
Çimsa, a subsidiary of Sabancı Holding, was founded in Mersin in 1972. Today, Çimsa carries out its manufacturing operations via its three integrated factories in Mersin, Eskişehir and Afyonkarahisar, Turkey, an integrated cement plant in Bunol, Spain, a cement grinding facility in the USA and terminals in Germany, Spain, Italy and the TRNC.
Çimsa is one of the leading global brands in white cement and sustains its global operations through Sabancı Building Solutions, a company founded by integrating the operational capability of Çimsa with the financial strength of Sabancı Holding, Çimsa’s main shareholder.
Thanks to its market-oriented approach and extensive distribution network, Çimsa meets the product and service requirements of its customers fully and on time. Being a reliable business partner for its stakeholders, the company provides the necessary materials for long-lasting living spaces and infrastructures for the future generations.
Çimsa pioneers the Turkish cement and building materials industry in terms of innovation via its special products including white cement and calcium aluminate cement, in addition to the gray cement. Focusing on profitable growth and creating value for all its stakeholders, Çimsa’s goal is to sustain and expand these achievements in the future.
About Sabancı Building Solutions
Sabancı Building Solutions aims to grow Building Materials Portfolio of Sabancı Holding in developed geographies with sustainable products and solutions .
Sabancı Building Solutions is going to transform existing portfolio through acquisitions of businesses, with an emphasis on ESG principles, in alignment with the commitment of Sabancı Holding to Net Zero in 2050.
Additionally, the Company will continue shaping the future through investments in Construction Tech ecosystem with a focus on advanced materials, decarbonization, digitalization and productivity.
