The tender for Dubrovnik Gruz port includes the construction and 40 years operating rights of a cruise terminal, central parking lot, administration building, and a bus station in the city of Dubrovnik, one of the most prominent tourist destinations in the Mediterranean.

Commenting on the tender, Mr. Saygın Narin, CEO of Global Ports Holding, said, “Our growth strategy in cruise port operations encompasses the potential acquisition of additional strategically located ports, particularly in the Mediterranean. Dubrovnik, a city in the list of UNESCO World Heritage Sites, is an important destination in the Mediterranean, and the new port project provides a significant growth potential for cruise passengers to the City. Dubrovnik Cruise Port is one of the largest ports in Mediterranean with over 1.1 million number of passenger in 2013”.

About GYH:
Global Yatırım Holding A.Ş. (GYH) was regrouped as a holding company in October 2004 to hold a diversified portfolio of investments in a number of businesses, including infrastructure, real estate, energy, and financial services. GYH is listed on Borsa Istanbul (as GLYHO.IS) and utilizes its experience in the finance sector for industrial business opportunities.

About GPH:
Global Ports Holding (Global Port) has been established to utilize commercial and cruise port opportunities in Turkey and the wider region. Global Ports is a leading port group with operations in Turkey and internationally, currently managing eight leading cruise and commercial ports. Since 2003, the Global Ports has developed a portfolio of strategically located ports in Turkey and internationally, each providing exceptional hinterland access with strong market fundamentals.

About Bouygues:
Bouygues is a diversified industrial group with operations in construction, property and investments. Bouygues operates in 80 countries with Euro10.6bn sales volume and in excess of 55,000 employees.

The post Global Ports Holding’s Submits Pre-Qualification Application For Dubrovnik Gruz Port Tender appeared first on Global Yatırım Holding.

On the other hand, despite the low level of net working capital due to long-term investments’ funding needs, Holding has sufficient resources to provide cash inflows through existing portfolio and stocks held in subsidiaries.

The planned issuance will enhance GYH’s funding sources and meet the funding needs stemming from operational sources. A team of experienced risk oriented professionals and balance sheet composition based on a wide variety of group companies and operating sectors strengthen the Company against internal and external shocks. The Company outlooks in the long and short term perspective have been affirmed as ‘Stable” with the opinion that the projects have a high realization capability and the stream of cash flows will be realized in accordance with the principal and interest payments.

Taking into consideration the dominant shareholders’ financial strength and desire to support the Company, the scale of the Company, planned projects and sectorial expansion, GYH’s Sponsor Support grade has been affirmed as (2), denoting an adequate level. The Stand Alone grade of the Company has been also affirmed as (B) considering the ability of the Company to manage its undertaken incurred risks, internal resource generation and current level of capitalization.”

The details of the revised ratings are provided in the tables below:

Please do not hesitate to contact Investor Relations directly at investor@global.com.tr for any queries.
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About GYH
Global Yatırım Holding A.Ş. (Global Investment Holdings) was regrouped as a holding company on October 2004 (www.globalyatirim.com.tr) to hold a diversified portfolio of investments in a number of businesses, including infrastructure, real estate, energy, and financial services. Global Investment Holdings is listed on the Borsa Istanbul (as “GLYHO.IS”) and utilizes its experience in the finance sector for industrial business opportunities.

The post JCR Eurasia Rating Please find below the excerpt from JCR Press Release: appeared first on Global Yatırım Holding.

GIH also announced that, at the end of first half of 2015, Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) amounted to TL77.5mn, representing 88% increase compared to the same period last year. The comparable figure for the same period for 2014 was TL41.3mn. Holding company itself which is a pure cost center, also registered a positive EBITDA of TL5.8mn, triggered by sale of treasury shares during the period.

On a divisional basis, the Group’s Port Division revenues reached TL120.6mn in the first half of 2015, representing a 41% increase over the same period in 2014. A significant portion of this increase is attributable to the contributions from the Group’s cruise port operations, despite the fact that cruise port activities were relatively low in first six months of the year due to seasonality. Revenues have also been positively affected by TL’s depreciation in value against hard currencies, and tariff adjustments.

The Energy Division’s revenues posted a significant turnaround in the first half of the year, surging 61% over the same period of 2014. Division revenues consisted of mainly sales from CNG, mining operations, and energy efficiency services rendered, yet Naturelgaz contributed the most, as CNG sales volumes reached 56.5mn m3 in H1 2015, representing a 60% increase over the same period in 2014. This increase excludes the fact that some sales were shifted to third quarter due to changes in seasonality. Reported EBITDA of the Division totaled TL12.6mn, compared to TL9.9mn in the first half of 2014.

GIH reported a consolidated net loss of TL51.6mn in the first half of 2015, compared to a net loss of TL33.1mn in the same period of 2014. The loss is mainly attributable to non-cash depreciation charges amounting to TL65.0mn (TL42.6mn in 2014) and foreign exchange differences amounting to TL24.7mn (TL0.1mn in 2014). Group’s port and mining operations in particular highly benefit from a weaker TL against major hard currencies, which is reflected as a strong growth in their respective revenue and cash generating capabilities. Foreign exchange denominated long term financial debt at Holding stand-alone level, on the other hand, created non-cash foreign exchange losses, especially in the last quarter of 2015.

The Chief Financial Officer of the Group, Kerem Eser underlined that, already being satisfied with the performance of the existing portfolio assets, the Company will continue its aggressive policy of growth by means of new acquisitions and investments mainly into cruise business, mining and renewable energy generation. He further stated that as an investment holding company, company financials would better be interpreted if more focus is given to net asset values created over time.

Mr. Eser, further commented on the highlights of the first half of the year, indicating that the Board has decided to cancel treasury shares held by the Company corresponding to 5.24% of the total issued share capital, and once this decision is approved at the general shareholders’ meeting, the share price of the Company will be adjusted by BIST on the day of cancellation to reflect the decrease in the number of shares. Accordingly, in line with its dividend policy, the cancellation process implies a dividend yield of 5.5% calculated at the current market capitalization of the Company.

The post SOLID GROWTH IN ALL OPERATING COMPANIES WITH 48% INCREASE IN CONSOLIDATED REVENUES AND 88% EBITDA GROWTH appeared first on Global Yatırım Holding.

The results of the European stage of the International Property Awards 2015-2016 have just been announced and Global Investment Holdings is justifiably proud to be among the national winners of two awards with its Van Shopping Mall project.

Global Investment Holdings competed against a number of the region’s most accomplished developers and architects to receive this recognition. The level of awards it has won (either highly commended or 5-star) will be revealed when the official announcements are made at a gala presentation dinner at the Grosvenor House Hotel in Park Lane, London, on the evening of September 22^nd.

The company may even go on to represent Europe in the final stage of the competition later this year. If it has attained the highest score in the development category or in the architecture category, Global Investment Holdings will compete against other winning companies from Asia Pacific, Africa, Canada, the USA, Central and South America, the Caribbean, Arabia and the UK for the coveted crown of World’s Best Developer and/or World’s Best Architect.

Both of the awards are major achievements for Global Investment Holdings as entrants are judged against a strict set of criteria. Judging was undertaken by a panel of over 70 experts from all over the world and chaired by two active members of the House of Lords: Lord Caithness and Lord Best.

Stuart Shield, president of the International Property Awards, commented, “Once again, European developers and Architects have excelled in this competition by entering a select number of simply stunning developments. These projects are aesthetically beautiful, highly functional, eco-friendly and feature state-of-the-art technology.”

The post International Property Awards Results appeared first on Global Yatırım Holding.

Global Investment Holdings (GIH or the Group) reports consolidated revenues of TL84.5mn in Q1 2015, representing an increase of 27%, and consolidated operational EBITDA of TL22.8mn, representing 108% increase, compared to the same period last year.

GIH announced its financial results for the first quarter of 2015.  The consolidated net revenues reached TL84.5mn compared to TL66.5mn last year, representing an increase of 27%.  This increase is due to robust operating performance of business divisions in the Group with Port, Energy and Finance Divisions specifically being the largest contributors to consolidated revenues.

GIH also announced that, in the first three months of 2015, Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) amounted to TL22.8mn, representing 108% increase compared to the same period last year. The comparable figure for the same period for 2014 was TL11.0mn.

On a divisional basis, the Group’s Port Division revenues reached TL42.5mn in the first quarter of 2015, representing a 17% increase over the same period in 2014.  A significant portion of this increase is attributable to the contributions from Barcelona Cruise Port which was added to the Group’s portfolio in the last quarter of 2014. Increase in handling fees per TEU coupled with devaluation of TL have over balanced a slight decrease of volume in commercial ports, resulting in increase in turnover and EBITDA as compared to the same period last year.

The Energy Division’s revenues posted a significant turnaround in Q1 2015, surging 49% over the same period of 2014.  Division revenues consisted of mainly sales from CNG and mining operations, yet Naturelgaz contributed the most, as CNG sales volumes reached 19.6mn m3 in Q1 2015, representing a 55.6% increase over the same period in 2014. Reported EBITDA of the Division totaled TL2.9mn, compared to TL2.1mn in the first quarter of 2014.  

GIH reported a consolidated net loss of TL28.6mn in the first quarter of 2015, compared to a net loss of TL26.6mn in the same period of 2014. The Group’s consolidated cash EBITDA increased by TL11.8mn, compared to the same period last year, which however, is off-set by an amount of TL33mn in non-cash depreciation and amortization charges, mainly as a result of subsidiary acquisitions.

Commenting on the Global Ports’ IPO process, Kerem Eser, the Chief Financial Officer of the Group indicated that the continuation of GPH’s successful inorganic growth plans do not necessarily require a capital raising, yet it plans to evaluate other options, including collaborating with strategic investors and/or private equity.

Furthermore, Mr. Eser underlined that, the Energy Division made substantial progress in the first quarter of 2015.  “Naturelgaz’s CNG sales volume increased by 55.6% in the first quarter, compared to same period last year. Finally, Mr. Eser indicated that Tres Enerji, the Group’s power solution company (tri/co-generation) and Straton, the feldspar mining company, also contributed positively to consolidated figures in the first quarter of 2015.   Also helped with the ongoing investments, both companies were expected to show substantial volume improvements during the year.

You may access the Financial Results Presentation on our Investor Relations web site or through the link presented below:

GIH Q1 2015 Financial Results Presentation

www.globalyatirim.com.tr

Further Information:

investor@global.com

About GIH

Global Yatırım Holding A.Ş. (Global Investment Holdings) was regrouped as a holding company on October 2004 (http://www.globalyatirim.com.tr/” href=”http://www.globalyatirim.com.tr/”>www.globalyatirim.com.tr) to hold a diversified portfolio of investments in a number of businesses, including infrastructure, real estate, energy, and financial services. Global Investment Holdings is listed on the Borsa Istanbul (as “GLYHO.IS”) and utilizes its experience in the finance sector for industrial business opportunities.

The post Global Investment Holdings Announces Consolidated Net Revenues of TL84.5mn and an operational EBITDA of TL22.8mn in the first quarter of 2015 appeared first on Global Yatırım Holding.

The phone numbers to attend the conference call are below:

Direct DDI(s) for Participant Connection:

Turkey –           +90 216 217 1202

US –                 (+1) 8669075925

UK-                 +44 2033679453

France-            0170770942

Italy –               +39 0236048091

Germany –       + 49 30221510064

ITFS List (Participants pin for ITFS only – 342618#)

Austria –          +43 19282201

Hong Kong –   +852 58081220

Netherlands –   + 31 107138194

Portugal –        +351 308801485

UAE –             800035702760

Singapore –      +65 31580365

Sweden –          +46 850334664

Spain –             +34 914142021

You may access the Financial Results Presentation on our Investor Relations web site or through the link presented below:

2015 Q1 Financial Results Presentation

The post GIH Q1 2015 Financials Conference Call appeared first on Global Yatırım Holding.

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