Chairman of the Executive Board Message

By the end of 2020, mining site of Malkara Coal Enterprise Commercial and Economic Integration, which has been put on sale through tender by Saving Deposit Insurance Fund of Turkish Republic (TMSF) has been contributed into the body of our company against payment of the price in sum of 23.600.000 TRY (VAT included).

As energy prices increase, countries have needed to move energy potentials they could produce through their own resources.In order to reduce dependence to imported energy in our country, measures have been taken to encourage use of native coal especially in power plants. Our company, by means of this investment it launched, has been working with full effort to reduce the need of our country for imported coal, to the extent of its capacity.

Our company has reached to a powerful and debtless structure in finance respect under the current economical conditions and has launched projections in the field of mining on the basis of the financial power it holds. Our principle is to complete the investments we need by means of capital resources of our own, and to increase profitability of our shareholders by means of equity profitability we shall produce. Among our essential aims is to make production with high added value that is need of our countryupon following new opportunitiesthat may occur in forthcoming periods, thanks to our powerful capital structure.

I here with present thanks to our employees, business partners, customers and valuable investors of us, who become partner upon believing us, all of whom have a share in success we reached, and who have contribution in conversion of Altınyağ inrecourse toward global competition, technological superiority, volumetric profitability and innovativeness.

Mehmed Nureddin Çevik
Chairman of the Executive Board