Global Investment Holdings’ (“GIH” or “the Group”) accomplished a revenue of TL 364.2 million for 2011, representing an increase of TL 133.1 million, or 58%, compared to last year.
Global Investment Holdings announced its financial results for the end of 2011. According to the disclosure, the consolidated net revenues amounted to TL 364.2 million, representing a growth of 58%, compared to TL 231.1 million for the previous year. It was stated in the announcement that GIH accomplished revenue growth in all of the segments it operates, where ports and energy contributed the most.

Global Investment Holdings also announced that, in 2011, its Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) reached TL 85.7 million.

Consolidated port revenues reached TL 108.1 million in 2011, representing a 77% increase over last year. A significant portion of this increase was attributable to Antalya Port, both due to the acquisition of an increased stake in the port as well as the increase in revenues of container handling and cruise port operations.

The revenues of container handling process, with a significant importance on the ports side, increased by 79%, whereas earnings of cruise operations increased by 45% and the total number of passengers served in the ports operated by the Group reached 983,678. The Group reported an EBITDA of TL 64.8 million for all of its port operations.

It was reported that net revenues of Global Energy, managing the Group’s energy related investments, increased by 60% amounting to TL 217.2 million, compared to the previous year. It was also stated that the total natural gas consumption increased by 37% and the total number of subscribers reached 583,900.

On 29 December 2011, Global Investment Holdings announced that Galata Energy, owned 80% by Global Energy, has signed an EPC (Engineering, Procurement and Construction) Contract with China National Electric Engineering CO., Ltd. (CNEEC) to build 2×135 (270) MW power plant using Circulating Fluidized Bed Boiler technology on an asphaltite mine field located in South East Turkey-Şırnak.

The Thermal Power Plant in Şırnak, which will contribute to the national economy in terms of reducing the import of energy resources, a major part of Turkey’s current account deficit, will be utilizing local resources only. The construction of the initial 270 MW thermal power plant capacity, with an investment of TL 310 million as the first phase of a long-term investment process, will commence in the second quarter of 2012 and is planned to generate 1.8 bn kWh of electricity per annum. As an investment in South Eastern part of Turkey, the Plant, once operational, is expected to provide local employment opportunity for 2.500 people. Global Energy reports that the potential asphaltite reserves in the mine field are sufficient to supply up to 2,000 MW of installed thermal power generation capacity. Global Energy plans to continue with the following phases of the investment process to utilize full capacity of field realizing approximately USD 2.5 billion investment in the region in the coming years.

Pera REIT, the real estate subsidiary of Global Investment Holdings, opened Sümerpark Shopping Mall in Denizli in March 2011 and initiated the sale of the first phase of the residential development of 604 units.

Kerem Eser, Chief Financial Officer of the Group, emphasized that the growth recorded in all sectors of the Group is satisfactory. He underlined that the actions to improve operational effectiveness of the current businesses will proceed, while the Thermal Power Plant Project in Şırnak, which will constitute an important place among the Group’s revenues, will also continue to maintain its importance within the current portfolio.

www.globalyatirim.com.tr

Further Information:
Optima İletişim / Burçin Baygül / 0212 347 79 11 / burcin@optima-tr.com

About GIH
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 Istanbul Stock Exchange (as “GLYHO.IS”) and utilizes its experience in the finance sector, for industrial business opportunities.

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