The Western Anatolia Group, which has an export of 90 million dollars, aims for an investment of 40 million dollars

The Western Anatolia Group, one of the long-established industrial groups in Izmir, is making a rapid growth with changes in its shareholder and management structure. The group, which increased its consolidated revenue from 217 million dollars in 2021 to 480 million dollars in 2023, aims to continue its growth with investments in the upcoming period. Gülant Candaş, Vice Chairman of the Board of Directors, shared the group’s goals and investment plans, stating, “Approximately 90 million dollars of our total revenue comes from export income. We plan to invest over 40 million dollars in the new period.”

On August 17, 2021, Çiftay Group took over approximately 30% of Batıçim Western Anatolia’s shares and the effective control of the board. After the management change, Batıçim Western Anatolia achieved a net profit of 2 billion 55 million TL on a consolidated basis for the first time in 6 years by the end of 2023. Batısöke Cement also closed 2023 with a profit for the first time in 7 years, announcing a profit of 872.5 million TL.

The Western Anatolia Group, which includes Batıçim and Batısöke Cement, plans to continue its rapid growth after the shareholder and management change in 2021. With a history approaching 60 years, the Western Anatolia Group exports cement and clinker to 30 countries across 4 different continents. Gülant Candaş, Vice Chairman of the Board, shared the success achieved during the restructuring period over the last 3 years and the future goals at a press conference held in Izmir.

Candaş stated that they have strengthened the working capital since taking over management: “In Western Anatolia Group, where the debt ratio is high and various rumors about its activities have increased, we have written a success story in 3 years. Our group, especially Batıçim and Batısöke, has transitioned to a profitable structure on a consolidated basis, becoming more efficient, and the satisfaction and trust of our employees have increased. This group, with its deep-rooted history, is stronger than ever for our employees, our region, and the Turkish economy. We take pride in looking to the future with confidence; efficiency in our companies is more important to us than profit.”

The group’s revenue reached 480 million dollars.

Candaş said, “With the increased efficiency and decreased debts from the management change, our consolidated revenue, which was 217 million dollars at the end of 2021, reached 480 million dollars by the end of 2023. We have more than doubled in dollar terms in two years. When we look at the distribution of our revenue, 54% comes from our flagship companies, Batıçim and Batısöke Cement. We want to further increase our contribution to the regional and national economy with investments both domestically and abroad.”

“We aim to invest over 40 million dollars.”

Gülant Candaş continued: “At this point, everything is going well in production and exports; that is, in our activities. Our priority right now is to reduce the debt ratio to the lowest level. We aim to increase the capital in Batısöke Cement and further strengthen our company. After we achieve our goal of reducing the debt structure in 2024, we expect everything for our companies to be very different starting from 2025. In industrial groups like ours, investment does not stop. We need to further strengthen our strong muscles. In the upcoming period, we aim to invest a total of over 40 million dollars. These investments include a waste heat electricity generation facility at Batısöke Cement, waste-derived fuel combustion units at two of our factories, and investments aimed at increasing capacity at Batıliman. We are also evaluating opportunities in exports; the Environmental Impact Assessment (EIA) process for the cement grinding and packaging facility investment in the Aliağa region, which we announced with a Public Disclosure Platform (KAP) statement, is progressing rapidly.”

Candaş also stated, “Batıliman has growth potential. It generates 80% of its revenue from companies outside the group. The port’s depth is suitable for large ships. 83% of world trade is carried out by sea. We plan to invest in cranes and add new storage elements to the port, filling the gap between the dock and the quay.”

Annual export of 90 million dollars.

Gülant Candaş, Vice Chairman of the Board of the Western Anatolia Group, concluded his remarks as follows: “According to the data from the Turkish Cement Manufacturers Association, in 2023, we ranked as the largest selling producer in the Aegean Region in both domestic sales and exports. Approximately 90 million dollars of our total revenue comes from export income. Our group’s imports amount to about 40 million dollars. While Turkey runs a current account deficit in many sectors, we have a current account surplus. Our market share in domestic sales in the Turkish cement sector is over 4%, and over 8% in exports. We want to further increase the use of alternative raw materials; that is, our production of blended cement. This is important because, according to the announcement related to our sector, the clinker ratio in public tenders will be reduced to 0.80 in order to reduce emissions in the product. This is also significant in terms of the European Union’s border carbon regulation. We have been producing blended cement for years. Our goal is to further increase our blended cement production capacity and reduce the share of clinker.