Sustainable
Digital,
Scalable

Annual Report Movie
Message from the Chair
Letter from the CEO
PDF Annual Report

We unite Türkiye and the World
for a sustainable life
with leading enterprises

Esteemed Stakeholders,
‍
We are pleased to present the Sabancı Holding Annual Report, highlighting our financial and operational performance in 2024.
‍
In 2025, as this report is published, we are proudly celebrating a momentous occasion: Sabancı Group’s 100th anniversary. This milestone reflects a century of achievement, unity, teamwork, innovation and collaborative success. We extend our sincere appreciation to our stakeholders for their unwavering trust and partnership throughout our shared journey over the past 100 years.

We are committed to creating value and sharing success together for centuries to come!
A world-class orchestra
Sustainable
Digital
Scalable

A world-class orchestra.
A maestro transcending traditional boundaries.

Sabancı Holding, much like a maestro, deftly orchestrates its global ecosystem, seamlessly integrating energy & climate technologies, banking & financial services, mobility solutions, material technologies and digital. Each industry, much like the instruments in a well-tuned orchestra, plays a crucial role in crafting a harmonious future.

By leveraging sustainable and innovative technologies with a focus on environmental and social responsibility, pursuing operational excellence, and fostering scalable investments, Sabancı Holding is expanding beyond traditional boundaries.

Commitment to Spend $5 Billion on Sustainability by End of 2027

Sabancı Holding demonstrates a strong commitment to its sustainability vision with its Nature and Social Agendas. As Türkiye’s first investment holding company to target Net Zero Emissions by 2050, the company achieved a 20% emissions cut at year-end 2023, targeting 42% by 2030.

A USD 5 billion pledge toward SDG-linked spendings by 2027 has already reached 24% completion. Recognized by CDP with a Global A rating for climate and water security in 2024 and once again featured in the S&P 2025 Sustainability Yearbook, Sabancı Holding received an `A’ rating from LSEG, and six EFQM diamonds with a special award for “Outstanding Achievement in Sustainability.”

Strong Digital Growth

Sabancı Holding established a Digital Strategic Business Unit in 2023 as a key organizational change. This unit has a dual goal: strengthen existing digital businesses while exploring new avenues for growth.

In 2024, the company acquired an additional 65% stake of Bulutistan, a leading cloud technology company in Türkiye, reaching 75.5% effective ownership through DxBV and Sabancı Ventures. Prioritizing investments in digital infrastructure businesses, Sabancı Holding aims to significantly increase the share of its digital business in net asset value within five years, making it a key growth pillar.

2029 Year-End Net Asset Value
Target of $20 billion

Sabancı Holding targets a USD 20 billion net asset value by 2029, doubling its size through strategic growth in selective industries with potential for scalability. Focusing on energy and climate technologies, mobility solutions, material technologies and digital, the company aims for a balanced portfolio with higher returns.

In line with this strategy, Enerjisa Üretim increased its total generation capacity to 3.9 GW, with 47% renewable, in 2024. Sabancı Renewables scaled to 504 MW in the US, commissioning the 272 MW Cutlass-II solar plant in May 2024, and developing the 232 MW Oriana plant for 2025. Sabancı Holding has made direct investments in 14 companies through Sabancı Ventures, aligning perfectly with its objective of identifying scalable business models. All these investments are pivotal in driving future growth and solidifying Sabancı Holding’s strategic direction.
Financials
Net Asset Value
Capital Allocation Framework
ESG Indices

Strong Financial Performance History and Unwavering Commitment to Shareholder Returns

2024 Combine Revenue Breakdown
2024 Combined EBITDA Breakdown
Holding Only Net Cash Position
Non-bank Combined Capex/Sales
Non-bank Combined Net Debt/EBITDA
Dividends Paid
NAV
NAV Discount

More Balanced NAV with a Solid Growth and Higher Return

2019 NAV
2024 NAV
2029 Target NAV

A Clear Capital Allocation Framework Providing Long Term Visibility

Capital Allocation

Top-notch performance in ESG Indices Among Local and Global Peers

MSCI ESG Ratings
CDP Climate Change
Water Security Performance
Refinitiv ESG Assessment
S&P Dow Jones Sustainability Index

Banking
Each sector plays a vital role, like instruments in an orchestra.
Banking, much like the piano, ensures stability and interconnectedness, driving economic harmony.
Akbank captures sustainable profitability as a financial powerhouse.
14.5 million
Active Customers(1)
15.1%
Tier 1(2)
12.5 million
Active Digital Customers(1)
17.8%
CAR(2)
(1) Active customer base (x) avg. cross-sell per active customer based on MIS data.

(2) Without forbearance. Forbearance: Fixing mark-to-market losses of securities & FX rate for RWA calculation to 26.06.2023 FX rate for 2024.

Financial Services
Each sector plays a part, just like the instruments in an orchestra.
Financial Services, like violins, creates sustainable growth, thereby fostering stability and opportunity.
Our new generation insurance approach is digital and customer-centric.
TL 13.1 billion
Assets Under Management (AUM)
TL 34.9 billion
Gross Written Products
TL 228.3 billion
Pension AUM
(incl. auto enrollment)
TL 14.3 billion
Gross Written Products

Energy & Climate Technologies
Sectors work in a collaborative manner, like instruments in an orchestra.
Energy and climate technologies, symbolized by wind instruments, powers the future with renewable sources, ensuring sustainability. We shape this future with our local strength and global reach.
TL 59 billion
Regulated Asset Base
22 million
Population
3.9 GW
Generation Capacity in Türkiye
47%
Renewables
504 MW
Generation
Capacity in US
4 Funds and 10 Start-ups
VC Investments in US

Material Technologies
Each strategic business unit plays a distinct yet complementary role, like instruments in an orchestra.
Material Technologies, like strings, provides a solid foundation, pushing innovation and resilience. We transform materials for a sustainable future.
7 million tons
Capacity
25+
Ready Mix
Concrete Plants
4
Countries of Production
53%
FX Revenue Share
100%
FX Revenue Share
546
R&D Patents

Mobility Solutions
Each sector shapes the future, much like the instruments in an orchestra.
Mobility solutions, like the steady rhythm of drums, leads global smart transportation with seamless systems. It is innovation and our global reach that will drive mobility forward.
Every 2 Seconds
1 Tire Production
830,000
Vehicles Tracked
by Arvento
68%
FX Revenue Share
24
Models of Commercial Vehicle Production

Digital
Each sector is an integral part of the whole, much like the different instruments in an orchestra.
Digital Technologies, represented by electronic sounds, drive seamless progress across industries. We empower digital growth in our orchestra.
175
Stores
230 Million +
Annual Visitors
5,000+
Active Customer Base in Digital Solutions
9
Offices

Sustainable,
Digital,
Scalable

Explore Sabancı Holding's 2024 activities through an engaging annual report film that offers an immersive reporting experience.
video
Designed by
Moreport Logotype
Developed by
Moreport Logotype

Sustainable,
Digital,
Scalable

Annual Report Movie
Message from the Chair
Letter from the CEO
PDF Annual Report

We unite Türkiye and the World
for a sustainable life
with leading enterprises

Esteemed Stakeholders,
‍
We are pleased to present the Sabancı Holding Annual Report, highlighting our financial and operational performance in 2024.
‍
In 2025, as this report is published, we are proudly celebrating a momentous occasion: Sabancı Group’s 100th anniversary. This milestone reflects a century of achievement, unity, teamwork, innovation and collaborative success. We extend our sincere appreciation to our stakeholders for their unwavering trust and partnership throughout our shared journey over the past 100 years.

We are committed to creating value and sharing success together for centuries to come!

A world-class orchestra

A maestro transcending traditional boundaries.

Sabancı Holding, much like a maestro, deftly orchestrates its global ecosystem, seamlessly integrating energy & climate technologies, banking & financial services, mobility solutions, material technologies and digital. Each industry, much like the instruments in a well-tuned orchestra, plays a crucial role in crafting a harmonious future.

By leveraging sustainable and innovative technologies with a focus on environmental and social responsibility, pursuing operational excellence, and fostering scalable investments, Sabancı Holding is expanding beyond traditional boundaries.

Sustainable

Commitment to Spend $5 Billion on Sustainability by End of 2027

Sabancı Holding demonstrates a strong commitment to its sustainability vision with its Nature and Social Agendas. As Türkiye’s first investment holding company to target Net Zero Emissions by 2050, the company achieved a 20% emissions cut at year-end 2023, targeting 42% by 2030.

A USD 5 billion pledge toward SDG-linked spendings by 2027 has already reached 24% completion. Recognized by CDP with a Global A rating for climate and water security in 2024 and once again featured in the S&P 2025 Sustainability Yearbook, Sabancı Holding received an `A’ rating from LSEG, and six EFQM diamonds with a special award for “Outstanding Achievement in Sustainability.”

Digital

Strong Digital Growth

Sabancı Holding established a Digital Strategic Business Unit in 2023 as a key organizational change. This unit has a dual goal: strengthen existing digital businesses while exploring new avenues for growth.

In 2024, the company acquired an additional 65% stake of Bulutistan, a leading cloud technology company in Türkiye, reaching 75.5% effective ownership through DxBV and Sabancı Ventures. Prioritizing investments in digital infrastructure businesses, Sabancı Holding aims to significantly increase the share of its digital business in net asset value within five years, making it a key growth pillar.

Scalable

2029 Year-End Net Asset Value Target of $20 billion

Sabancı Holding targets a USD 20 billion net asset value by 2029, doubling its size through strategic growth in selective industries with potential for scalability. Focusing on energy and climate technologies, mobility solutions, material technologies and digital, the company aims for a balanced portfolio with higher returns.

In line with this strategy, Enerjisa Üretim increased its total generation capacity to 3.9 GW, with 47% renewable, in 2024. Sabancı Renewables scaled to 504 MW in the US, commissioning the 272 MW Cutlass-II solar plant in May 2024, and developing the 232 MW Oriana plant for 2025. Sabancı Holding has made direct investments in 14 companies through Sabancı Ventures, aligning perfectly with its objective of identifying scalable business models. All these investments are pivotal in driving future growth and solidifying Sabancı Holding’s strategic direction.

Financials

Strong Financial Performance History and Unwavering Commitment to Shareholder Returns

2024 Combine Revenue Breakdown2024 Combined EBITDA BreakdownHolding Only Net Cash PositionNon-bank Combined Capex/SalesNon-bank Combined Net Debt/EBITDADividends PaidNAVNAV Discount

Net Asset Value

More Balanced NAV with a Solid Growth and Higher Return

2019 NAV2024 NAV2029 Target NAV

Capital Allocation Framework

A Clear Capital Allocation Framework Providing Long Term Visibility

Capital Allocation

ESG Indices

Top-notch performance in ESG Indices Among Local and Global Peers

MSCI ESG RatingsCDP Climate ChangeWater Security PerformanceRefinitiv ESG AssessmentS&P Dow Jones Sustainability Index

Banking
Each sector plays a vital role, like instruments in an orchestra.
Banking, much like the piano, ensures stability and interconnectedness, driving economic harmony. Akbank captures sustainable profitability as a financial powerhouse.
14.5 million
Active
Customers(1)
15.1%
Tier 1(2)
12.5 million
Active
Digital Customers(1)
17.8%
CAR(2)
(1) Active customer base (x) avg. cross-sell per active customer based on MIS data.

(2) Without forbearance. Forbearance: Fixing mark-to-market losses of securities & FX rate for RWA calculation to 26.06.2023 FX rate for 2024.

Financial Services
Each sector plays a part, just like the instruments in an orchestra.
Financial Services, like violins, creates sustainable growth, thereby fostering stability and opportunity. Our new generation insurance approach is digital and customer-centric.
TL 13.1 billion
Assets Under Management (AUM)
TL 34.9 billion
Gross Written Products
TL 228.3 billion
Pension AUM
(incl. auto enrollment)
TL 14.3 billion
Gross Written Products

Energy & Climate Technologies
Sectors work in a collaborative manner, like instruments in an orchestra.
Energy and climate technologies, symbolized by wind instruments, powers the future with renewable sources, ensuring sustainability. We shape this future with our local strength and global reach.
TL 59 billion
Regulated Asset Base
22 million
Population
3.9 GW
Generation Capacity in Türkiye
47%
Renewables
504 MW
Generation
Capacity in US
4 Funds and 10 Start-ups
VC Investments in US

Material Technologies
Each strategic business unit plays a distinct yet complementary role, like instruments in an orchestra.
Material Technologies, like strings, provides a solid foundation, pushing innovation and resilience. We transform materials for a sustainable future.
7 million tons
Capacity
25+
Ready Mix
Concrete Plants
4
Countries of Production
53%
FX Revenue Share
100%
FX Revenue Share
546
R&D Patents

Mobility Solutions
Each sector shapes the future, much like the instruments in an orchestra.
Mobility solutions, like the steady rhythm of drums, leads global smart transportation with seamless systems. It is innovation and our global reach that will drive mobility forward.
Every 2 Seconds
1 Tire Production
830,000
Vehicles Tracked
by Arvento
68%
FX Revenue Share
24
Models of Commercial Vehicle Production

Digital
Each sector is an integral part of the whole, much like the different instruments in an orchestra.
Digital Technologies, represented by electronic sounds, drive seamless progress across industries. We empower digital growth in our orchestra.
175
Stores
230 Million +
Annual Visitors
5,000+
Active Customer Base in Digital Solutions
9
Offices

Sustainable,
Digital,
Scalable

Explore Sabancı Holding's 2024 activities through an engaging annual report film that offers an immersive reporting experience.
video
Designed by
Moreport Logotype
Developed by
Moreport Logotype