Enerjisa Enerji completed 2018 Ordinary Annual General Assembly Meeting and reported 50% growth in operational earnings, as well as 40% growth in underlying net income. Dividend pay out ratio proposal of 65% has been approved.
2018 Ordinary Annual General Assembly Meeting of Enerjisa Enerji, operating in electricity distribution and sales business as a joint venture of Sabanci Holding and E.On has been held in Sabancı Center. During the meeting, 2018 Annual Report of Enerjisa Enerji has been presented and Board of Directors has been assigned.
Kivanç Zaimler, Enerjisa Enerji Chairman and Sabanci Holding Energy Group President, made a speech during General Meeting, stating that “2018 was a challenging year witnessing various changes and financial sustainability concept stood out in line with the macroeconomic developments in the electricity sector in Turkey. Our success despite the volatile environment was a clear indicator of the strength of Enerjisa, supported by the Turkish electricity market regulations. We have strengthened the trust in our company with our first dividend payment, in addition to the positive operational and financial results delivered in 2018. We would like to thank our investors, customers and partners for this trust. As pioneering and leading player of the electricity sector, which is a sector with increasing importance, we will continue to meet our stakeholders’ expectations in the future.
Ziya Erdem Enerjisa Enerji CEO, stated that “With our agile management approach and right tactical moves, we managed to complete 2018 successfully. As Enerjisa Enerji, our main aim is to improve leading position within our main business, whereas pioneering the sector via the highest technology applications. In 2019, I believe that we will continue our high performance and to create value to all stakeholders.”
Enerjisa Enerji has increased its operational earnings by 50 percent and its underlying net income by 40 percent
Based on the 2018 Annual Report of Enerjisa Enerji, Turkey’s leading electricity distribution and sales company, has increased its annual consolidated operational earnings by 50 percent and announced as 3.845 million TL. As a result, the company had exceeded its 2018 target of 3,0-3,3 billion TL. The underlying net income of Enerjisa Enerji has increased by 40 percent and reached 730 million TL. The increase in the operational earnings is mainly related to the distribution business. The distribution business has contributed to the consolidated operational earnings by 91 percent.
The dividend pay out ratio equals 65 percent of the underlying net income
Enerjisa Enerji Board of Directors has proposed a dividend payment of 0,40 TL per share at the Ordinary Annual General Assembly Meeting on March 28,2019. The proposal has been in line with the communicated Dividend Policy of 60-70 percent pay out ratio of Underlying Net Income.