Enerjisa Enerji, Turkey's leading company in the electricity distribution and retail sales sector, has proposed a dividend payment of 60 cents per share in 2019, exceeding its targets.
In 2019, Enerjisa Enerji returned to positive for the first time in free cash flow after interest and tax, and invested TL 1.4 billion.
Enerjisa Enerji, 20% of which is publicly traded and whose main shareholders are Sabancı Holding and E.ON, announced its financial statements as of 31.12.2019. Enerjisa Enerji, Turkey's leading energy company in electricity distribution and retail sales, generated consolidated operating income of TL 4,609 million at the end of 2019, increasing its revenues by 20 percent compared to last year. In the same period, the underlying net profit increased by 60% to TL 1,175 million, exceeding the 2019 company targets.
This success is the result of our foresighted, cautious, forward-thinking and agile management approach.
Michael Moser, CFO of Enerjisa Enerji, said, "As Enerjisa Enerji, we develop effective risk management policies by closely following macroeconomic trends and regulation changes every period in order to achieve long-term and sustainable success. As a result, we have significantly exceeded our targets in 2019, creating significant growth for our shareholders. This success has been achieved thanks to our foresighted, cautious, forward-thinking and agile management approach, as well as our ability to navigate variable market conditions." Said.
Sustainable Growth Will Continue with New Investments
Enerjisa Enerji CEO Murat Pınar "Despite all the challenging conditions, we successfully completed 2019 with the right strategic moves. Undoubtedly, the continuous support of the regulatory framework, our predictive risk management and, of course, the dedication of our team play a great role in this success. Following these successful results, our Board of Directors will propose to the Ordinary General Meeting that a dividend of 60 cents per share be paid.
As Enerjisa Enerji, we aim to provide the highest benefit to both our investors and all our other stakeholders. The successful financial result we achieved in 2019 will serve as an important basis for investments that will further our operations in the coming period." Said. Stating that he believes that the sustainable and healthy growth trend will continue by continuing to invest in the fields of network and technology, Murat Pınar said, "As Enerjisa Enerji, we aim to get ahead of the age and expectations in every period by acting with the awareness of our responsibilities that come with being a pioneer and leading company." Said.