Dear Stakeholders,
The health crisis, geopolitical tensions, fluctuations in energy markets, and inflation encountered in recent years have caused the world economy to undergo difficult times. Despite all such developments, Kibar Group was able to achieve its growth targets and continue investments at full steam thanks to our adaptability to changing conditions and agility. By the end of 2023, we put behind a successful year as we maintained our financial stability and achieved our targets.
Our outlook, for which we look out financial and non-financial capital elements together, played a crucial role in this success. We believe that a business model which focuses solely on profitability and economic growth cannot be sufficient and sustainable since a sustainable business may only be achieved through a business model respecting people and the environment.
With its impacts becoming more prevalent at an ever-increasing level with each passing day due to events such as heavy rainfall, flood disasters, droughts, and forest fires in many regions around the world, climate change strongly puts the importance of sustainability into perspective. Scientific studies on climate change clearly demonstrate the urgency of taking action to achieve sustainability targets.
Kibar Group acts with a sense of responsibility and is committed to a vision for a fair and balanced future. We work towards achieving the net zero emission target by 2050 in alignment with the Paris Agreement, the European Green Deal, and the national policies and commitments of Türkiye.
In this context, we invest in renewable energy sources and increasing energy efficiency. We ensure sustainable management and efficient use of natural resources and reduce negative impacts on the environment. We create more eco-friendly and sustainable solutions in addition to improving the quality of our products and services through our R&D and innovation activities. We improve resilience and compliance regarding climate-related risks. In addition, we strive to seize long-term opportunities within the framework of a new economic transformation model focusing on green energy transition and digitalization.
Even though the global climate crisis is our main focus, we take into consideration all aspects of sustainability. We carry on our activities based on the values of reliability, integrity, diligence, flexibility, and innovation that we have prioritized since our foundation. We take into consideration the expectations of our employees, customers, suppliers, business partners, and other stakeholders and we are committed to creating value within this broad ecosystem.
We have adopted a sustainability approach pivoting around people and communities, conserving natural resources and the environment, making investments intended for providing social benefit, and implementing social responsibility projects, which represents an innovative growth mindset.
Once again, we would like to give our condolences and convey our deepest sympathy to the relatives of our employees and citizens who lost their lives due to the earthquake disasters in 2023, bringing unimaginable sorrow to us all. We have provided support to the regions affected by the earthquakes through our Group, especially through our Group company, namely, Assan Port based in Hatay province by using every means available since the onset of the earthquakes. I would like to announce that this support will continue.
Apart from the deep sorrow caused by the earthquake disaster, I would also like to mention that our nation celebrated the 100th anniversary of the Republic of Türkiye with great pride in 2023.
I would like to extend my gratitude to our valuable co-workers and all stakeholders, who contribute to the sustainable growth and progress of our Group.
Ali Kibar
Chairperson of the Executive Board