Erciyes Holding surpasses turnover and profit target


ERCIYES ANADOLU HOLDING recorded a TRY 13.6bn turnover in 2020, up from the TRY 12.3bn target set at the end of 2019, according to Baki Ertekin, CEO of the company. Established three years ago with 100% domestic capital, Erciyes Anadolu’s goal is to increase the valuation of its companies. Operating under the Savings Deposit Insurance Fund of Turkey (TMSF), the holding launched new brands under its roof and plans more launches shortly.

“We’ve established a home textile brand under the name of DOQU Home,” Ertekin said, speaking at a meeting where the company announced its 2020 financial results. “The brand’s turnover target is set as TRY 500m and I believe we can reach this target.”


While the company increased its turnover over by TRY 2bn in 2020, up from TRY 11.2bn in 2019, Erciyes Anadolu’s gross profit stood at TRY 2.7bn last year. “The total net profit was TRY 999m in 2019 and it upset us,” Ertekin said. “•ur target for 2020 was TRY 1.1bn and we completed 2020 with TRY 1.6bn total net profit. The company’s exports target for 2020 was TRY 385m and we recorded a TRY 388m.”

Erciyes Anadolu provided jobs for 584 people last year and its total investment in 2020 stood at TRY 890m. The company made a TRY 477m energy investment, according to Ertekin and also invested in a furniture factory. “We launched our Bellona factory two weeks ago, in which we invested a total of TRY 128m,” Ertekin added.


The companies under Erciyes Anadolu Holding weren’t even actively using social media before the TMSF got involved. “We’ve undergone a digital transformation and worked on infrastructure projects in the area of big data and servers,” Ertekin said. However, the company did not stop simply with a recovery; it made various innovations in communication technologies infrastructure as well. The pandemic encouraged e-commerce efforts and projects, according to Ertekin. “We are about to complete our e-commerce infrastructure,” he said. “All of our brands will also serve in the e-commerce sector as of April 1.” The company also carries out projects with the HES Kablo brand. “We are meeting nearly half of our copper needs through recycled copper,” Ertekin added.


“TMSF is one of the strongest saving deposit insurance funds in the world,” said Muhittin Gulal, its president. “We have 796 companies under our roof. The number of our employees stands at nearly 40,000. Also, our subsidiaries recorded a total of 65% growth in size of assets.”

Meanwhile, Erciyes Anadolu Holding’s size of assets reached TRY 16bn and the company increased its equities to TRY 11bn, up from TRY 6bn, according to Gulal. When asked about the possible sale of Erciyes Anadolu Holding, Gulal said a sale will be considered “when the judicial process is completed.”

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