Nevra Onursal Karaağaç, CEO of Hitit, has achieved a significant milestone through her socially driven leadership. She was awarded “Leader of the Year” at The Source Awards, held for the first time this year, receiving the top global honor.

The award was presented as part of The Source Awards, an initiative that highlights the social impact of C-level executives in Türkiye and around the world. The evaluation process was conducted by an international jury comprising academics from leading institutions, including Bayes Business School, the University of Cambridge, King’s College London, and Imperial College London. The ceremony took place on 17 April at Bayes Business School in London.

RACKETS UP PROJECT RECEIVES INTERNATIONAL RECOGNITION

At the core of this recognition is “Rackets Up”, Türkiye’s first sustainable table tennis project, launched by Hitit in 2018. Aligned with the United Nations Sustainable Development Goals; specifically Good Health and Well-being, Quality Education, and Reduced Inequalities. The project aims to increase children’s access to sports, promote equal opportunities, and create long-term social impact.

To date, the project has reached 411 public schools across Türkiye, providing more than 160,000 students with the opportunity to learn table tennis. In collaboration with the Turkish Table Tennis Federation, 430 physical education teachers have received coaching training, contributing to the project’s long-term sustainability. As part of the initiative, schools have been equipped with table tennis equipment, and school teams have been established. Local tournaments, along with the Turkish Championship, have helped foster a sustainable sports ecosystem. Additionally, initiatives carried out in Kahramanmaraş and Malatya following the earthquake have supported the psychosocial recovery of children.

NEVRA ONURSAL KARAAĞAÇ: "TRUE IMPACT IS ACHIEVED BY REACHING WHERE IT IS NEEDED"

Commenting on the award, Nevra Onursal Karaağaç said: “Rackets Up is much more than a corporate social responsibility project for us; it is a journey dedicated to creating a lasting impact on children’s lives. As a technology company, we made a conscious decision to invest in an area beyond our core business, because meaningful impact can only be achieved by being present where it is most needed. Reaching every province, connecting with children individually, and taking responsibility for this process is incredibly valuable to me. This award is a reflection of that approach.”

"FROM SUSTAINABLE STRATEGY TO TANGIBLE IMPACT"

Emphasizing her continued commitment to the Rackets Up project, first launched during her tenure as Hitit’s Chief Sales and Marketing Officer, Ms. Karaağaç added: “My appointment as CEO in 2024 expanded my responsibilities, but it did not change my commitment to “Rackets Up”. This project creates a small – yet meaningful – shift in children’s lives. While some may go on to become professional athletes, our primary goal is to support the development of confident, healthy, and team-oriented individuals. At a time when children are increasingly distancing themselves from sports, we chose table tennis because it is accessible and has clear, measurable benefits for development. From the outset, our aim was not only to promote a healthy lifestyle but also to instil essential values such as discipline, consistency, and responsibility. My leadership approach is built on defining sustainable strategies, translating them into action, and ultimately transforming on-the-ground efforts into measurable outcomes.”

Global Expansion Ahead

The “Rackets Up” project, implemented through collaboration between the public sector, private sector, and relevant non-governmental organizations, is planned to expand internationally in the coming period with the support of Hitit’s global partners. Aligned with the United Nations Sustainable Development Goals, the project stands out with its sustainable and scalable structure.

The elections for the Gender Partnership Group, an entity that initiates and oversees gender reforms within the organization globally, took place on April 14 as part of the ongoing 152nd Assembly of the IPU in Istanbul. Mikayilova, who is currently attending the assembly, assumed the high-ranking position following the voting process.

During the assembly, member states are set to adopt various resolutions concerning emergency issues and international security. The Standing Committee on Peace and International Security will address the subject of the role of parliaments in establishing robust post-conflict management mechanisms and restoring a just and lasting peace.

Furthermore, the Standing Committee on Sustainable Development will focus on building a fair and sustainable global economy, highlighting the role of parliaments in combating protectionism, reducing tariffs, and preventing corporate tax avoidance. The 152nd Assembly is expected to conclude with the adoption of an outcome document summarizing the overall theme of the general debate.

Hitit, a global provider of airline and travel technology solutions, continues to deliver projects that create social impact in line with its sustainable growth vision. In collaboration with the Turkish Table Tennis Federation, the company will provide travel sponsorship to national athletes Ela Su Yönter and Defne Üzümcü throughout 2026 as they compete in international tournaments.

Under the agreement, the two young athletes will participate in national and international competitions with Hitit’s support. This initiative aims to strengthen their journey toward the 2028 Los Angeles Olympic Games by enabling them to gain international experience and collect ranking points.

During this period in which table tennis has become one of the rising sports in Türkiye, supporting young athletes who stand out for their performance is gaining even greater importance. Competing in the U11 category, Defne Üzümcü, and in the U13 category, Ela Su Yönter, are among the promising young national players gaining recognition through their international performances.

Launched in 2018, Hitit’s long-term corporate social responsibility initiative “Rackets Up” supports equal access to sports while contributing to the nationwide development of table tennis in Türkiye. The project focuses on introducing children, especially those with limited access to table tennis and identifying talented athletes at an early stage through structured training programs.

Previously providing similar support to national women’s players Ece Haraç and Özge Yılmaz, Hitit continues to strengthen the presence of young athletes on the international stage and contribute to the development of table tennis in Türkiye.

Commenting on the initiative, Hitit CEO Nevra Onursal Karaağaç said: “At Hitit, we prioritize creating sustainable impact not only in technology but also through social responsibility. Following the journey we began with “Rackets Up”, supporting our young national athletes in their international journey is of great value to us. After contributing to the success of Ece Haraç and Özge Yılmaz, we are delighted to now support Ela Su and Defne. We attach great importance to the representation of our female athletes in sports and remain committed to contributing to the ‘Reducing Inequalities’ goal of the United Nations Sustainable Development Goals. We strongly believe that Ela Su and Defne will achieve remarkable success on their journey toward the 2028 Los Angeles Olympic Games.”

President of the Turkish Table Tennis Federation, Kerim Koç, also commented: “Greater participation of young athletes in international tournaments plays a critical role in their Olympic journey. The support provided by Hitit will significantly contribute to their development, while also supporting the growth of table tennis in our country.”

Through this collaboration, Hitit and the Turkish Table Tennis Federation aim to expand the reach of table tennis in Türkiye and support the international success journeys of young athletes. The achievements of Ela Su Yönter and Defne Üzümcü in upcoming tournaments are expected to inspire future generations.

Enerjisa Enerji, Türkiye’s leading electricity distribution and retail company, continues to contribute to strengthening Türkiye’s energy infrastructure and advancing the energy transition through its activities in customer solutions and e-mobility. Until now, the company has shared its financial and operational performance through its Annual Report, while presenting its sustainability priorities and targets in a standalone Sustainability Report.

This year, Enerjisa Enerji has taken an important step in its reporting approach by bringing these two reports together under a single framework and publishing its first Integrated Annual Report. By presenting its financial results and sustainability performance within one structure, the company is sharing its long-term value creation approach in a more connected and transparent way.

TSRS-Aligned Sustainability Report Also Published

Enerjisa Enerji has also published its Sustainability Report in compliance with the Türkiye Sustainability Reporting Standards (TSRS) simultaneously with its Integrated Annual Report. Through this report, the company demonstrates that it integrates climate- and sustainability-related risks and opportunities into its strategic management and risk management processes, addressing the topic in line with the principle of financial materiality. The TSRS-aligned Sustainability Report, which has undergone a limited assurance audit, presents the company’s sustainability performance within a measurable and comparable framework.

Philipp Ulbrich: "We wıll contınue to present the steps we take for a better future ın a strong and transparent way"

Philipp Ulbrich, CFO of Enerjisa Enerji, commented: “Our first Integrated Annual Report is a strong reflection of our commitment to pursuing financial performance and sustainability as our long-term targets, based on our conviciton that both are not competing, rather complementary elements of a sound strategy. . We thus believe that the integrated reporting strengthens trust among our investors and supports our company’s long-term value creation capacity.This report was prepared with great care—from its content to its design—through the contributions of many teams and expert advisory firms. Our aim was to enable our investors to clearly, comparably and easily access our company’s financial resilience, operational strength and sustainable growth strategy in a single document. Through our integrated reporting , we can now in an even more understandable way present the steps we take towards a better future when it comes to access to clean and safe energy .”

Ebru Taşcıoğlu: “Sustaınability ıs not just a reporting topic, but a natural part of how we do business and make decisıons”

Ebru Taşcıoğlu, Head of Sustainability and Corporate Capabilities at Enerjisa Enerji, stated: “Through our Integrated Annual Report, we present not only our financial results, but also how our performance in areas such as climate, human capital, natural resource use, social impact and governance is connected to those results in a holistic manner. This approach demonstrates that sustainability at Enerjisa Enerji is not a standalone topic, but an integral part of our business model and decision-making processes, while also significantly enhancing transparency for our stakeholders.

We share our environmental, social and governance performance in line with internationally recognized frameworks and reporting standards. Through these reports, we also highlight that we have successfully achieved our medium-term ESG targets, while continuing to place sustainability at the center of all our activities in line with our vision of a better future.”

Continuing its activities with the vision of “Pioneer Banking,” Albaraka Türk remains committed to supporting sustainable cross‑border trade, providing ESG‑compliant financing, and delivering financial solutions aligned with global standards to its customers.

Within the scope of the EBRD Trade Facilitation Programme (TFP), Albaraka Türk has signed an important cooperation agreement aimed at supporting the integration of Turkish companies into global trade networks and strengthening export‑oriented growth in line with responsible banking principles. As part of this strategic partnership, EBRD has provided Albaraka Türk with a trade finance limit of USD 50 million. By joining EBRD’s extensive network, Albaraka Türk aims to facilitate the access of local businesses to new markets and remove financial barriers to international trade.

A First in Participation Banking

Within the programme, Albaraka Türk has become EBRD’s first participation banking partner in Türkiye. Thanks to the facility provided, EBRD will provide guarantees to international confirming banks and support for trade transactions carried out by Albaraka Türk. This USD 50 million limit will increase the bank’s capacity to meet the growing demand for trade finance while strengthening Türkiye’s trade connections with key global markets such as Europe, the Middle East and Africa.

Under the EBRD programme, knowledge transfer will also be provided through consultancy services and training programmes in areas such as compliance in trade finance, sustainability, digitalisation and inclusiveness. EBRD’s award‑winning TFP programme currently operates in 28 economies and connects more than 130 issuing banks with over 800 confirming banks. This extensive network strengthens correspondent banking relationships and enables the development of new trade corridors between markets.

Through the TFP, EBRD supports local banks by providing guarantees and short‑term financing, contributing to smoother trade flows and helping local businesses access new markets. To date, EBRD has supported more than 36,000 global trade transactions worth over EUR 42 billion in the countries where it operates.

Francis Malige, Managing Director for Financial Institutions at EBRD, said:

“We are pleased to establish a partnership with Albaraka Türk under the TFP programme. The fact that Albaraka Türk is the first participation bank to join the programme in Türkiye makes this cooperation even more meaningful. This opportunity will strengthen the bank’s trade finance capacity and further support Türkiye’s connections with key global markets.”

Malek Temsah: “This partnership marks a strategic milestone for Albaraka Türk and participation banking in Türkiye.”

FRANCIS MALIGE - MALEK TEMSAH

Albaraka Türk General Manager and Board Member Malek Temsah emphasized the importance of the collaboration with the following words:

“The partnership we have established within the framework of EBRD’s Trade Facilitation Programme represents a strategic milestone for both Albaraka Türk and participation banking in Türkiye. We are pleased to be the first participation bank in Türkiye to join the programme as an issuing bank. The USD 50 million limit will enable us to strengthen Turkish companies’ and SMEs’ access to international markets, support sustainable cross‑border trade, and contribute to Türkiye’s export‑oriented growth. This cooperation will further reinforce our responsible banking approach and ESG‑aligned financing model at an international level.”

During the year, the company invested TL 23.5 billion and increased its operational earnings to TL 58.3 billion. Enerjisa Enerji completed the 4^th Implementation Period with solid operational delivery and continued financial discipline.

In 2025, Enerjisa Enerji sustained its strong performance driven by its resilient business model and investment discipline, and has now shared its year-end financial results. The Company’s Operational Earnings increased by 8% above inflation year-on-year to TL 58.3 billion, forming the foundation of its financial resilience and sustainable growth strategy.

Modernization Investments Strengthening Security of Supply Across 14 Provinces

In 2025, Enerjisa Enerji made total investments of TL 23.5 billion, prioritizing grid modernization, capacity expansion and infrastructure strengthening across the 14 provinces it serves through AYEDAŞ, Başkent EDAŞ and Toroslar EDAŞ. Through the expansion and reinforcement of the existing infrastructure, supported by smart grid applications, digitalization investments and projects enhancing security of supply, the Company contributed to building a more efficient, more resilient and more sustainable energy system.

These investments accelerated Türkiye’s energy transition while also providing significant support to strengthening long-term security of supply.

Increased Installed Solar Power Capacity by 38%

In addition to its electricity distribution business, Enerjisa Enerji continued its operations in the Retail and Customer Solutions segments, delivering a performance broadly in line with the financial expectations shared with investors at the beginning of 2025. In the Retail business, a stable performance was recorded compared to the previous year, reflecting the impact of regulatory changes to the Last Resort Supply Tariff limits introduced by EMRA (EPDK) as well as evolving market conditions. The Company continued to focus on creating sustainable value within the liberalized market by rapidly adapting to these new dynamics.

In the Customer Solutions business, installed capacity in solar power projects increased by 38% year-on-year, reaching 141.6 MWp as of year-end. Eşarj, while continuing its e-mobility operations under the Enerjisa umbrella, supported its growth with a transformation and development vision centered on customer expectations. As a result of service quality–focused investments aimed at making the charging experience easier, faster and more reliable, Eşarj achieved a significant performance improvement, increasing the power sold to 43.7 GWh.

MURAT PINAR: "WE ARE TAKING AN ACTIVE AND RESPONSIBLE ROLE IN THE TRANSFORMATION OF TÜRKİYE'S ENERGY INFRASTRUCTURE"

Emphasizing that the energy sector is not only an economic but also a strategic domain, Enerjisa Enerji CEO Murat Pınar said, “Energy systems are transforming globally, security of supply and infrastructure resilience are becoming more critical than ever. As Enerjisa Enerji, we are taking an active and responsible role in the transformation of Türkiye’s energy infrastructure. Our TL 23.5 billion investment realized in 2025 is a clear demonstration of our long-term commitment to strengthening our energy infrastructure and building a more efficient and more resilient system. The investments we made in distribution infrastructure supported the continuity of energy supply and contributed to the transformation process. In line with our strong financial performance and sustainable dividend policy, we plan to submit to the General Assembly the proposal of a dividend of TL 5.08 per share, corresponding to 63% of Underlying Net Income. This payout ratio supports a balanced and predictable continuation of dividend growth, while also providing the necessary flexibility for long-term investment and financial strength.Our focus is clear: to meet Türkiye’s growing energy needs with a secure, sustainable and robust infrastructure. In line with our ‘a Better Future’ vision, we will continue to lead Türkiye’s energy transition,” he stated.

PHILIPP ULBRICH: "FINANCIAL RESILIENCE AND VALUE CREATION WILL BE OUR PRIORITIES IN 2026"

Stating that they prioritized financial discipline and balance sheet resilience througout2025, Enerjisa Enerji CFO Philipp Ulbrich said, “In a high inflation and interest rate environment, we focused on maintaining a strong financial resilience. Through disciplined debt management, predictable cash generation, and clear capital allocation towards only most profitable businesses, we preserved our balance sheet flexibility. The visibility provided by our regulated business model continues to be one of the key pillars underpinning our financial stability. We now have clear visibility on the parameters of the 5^th Regulatory Period, which lay the foundation for the continuity of our core business model of long-term investments into electricity distribution grid. It is observed that the current regulations governing the retail segment do not offset the impact of inflation on profit margins. As a result, margin pressure across the sector continues. Based on this visibility, we are setting ambitious targets for 2026, aiming to profitably grow investments and earnings above inflation expectations while continuing to balance disciplined execution with value-accretive growth.”

Enerjisa guides for 2026, to reach Operational Earnings of TL 75–80 billion and an Underlying Net Income of TL 11–13 billion. Over the same period, the Company plans to invest TL 30–35 billion, and by this to increase the Regulated Asset Base to the range of TL 110–120 billion.

Philipp Ulbrich adds: “As Enerjisa Enerji, with a clear strategic roadmap, a resilient business model and a strong commitment to creating sustainable value for all our stakeholders, we are well prepared to enter 2026 and the 5^th Regulatory Period from a position of strength.”

Hitit, a global provider of airline and travel technology solutions, achieved significant recognition at the Vision Awards organized by the League of American Communications Professionals (LACP), one of the world’s most respected platforms for communication and reporting excellence.

In addition to winning its category, Hitit was placed second in the overall global ranking of 100 companies. The LACP Vision Awards, widely regarded as a prestigious benchmark in the field. The Awards evaluate corporate reports and company activities on an international scale, based on criteria such as message clarity, narrative quality, creativity, and stakeholder communication.

30 YEARS SUCCESSFUL SYNCHRONICITY

Founded by two visionary women entrepreneurs at a time when reservation and ticketing processes were just beginning to integrate technology, Hitit has since grown into a global airline and travel technology company supporting dozens of airlines and sectoral players across six continents. Prepared around a special 30th-anniversary theme, the Annual Report reflects the company’s transformation journey through the concept of “Perfect Synchronization.” It underscores Hitit’s commitment to innovation and its role in shaping the future of airline industry. The report presents a comprehensive narrative of its broad technology ecosystem, spanning reservation systems, loyalty programs, payment infrastructures, and airline retailing.

With a team of approximately 500 experts, Hitit highlights not only its technological capabilities but also its long-term partnerships; people-centered approach, and solutions designed to enhance passenger experience. The report’s narrative language and structure are intentionally crafted to mirror the company’s operational model, one that functions simultaneously and harmoniously across diverse geographies.

Nevra Onursal Karaağaç, CEO of Hitit, commented on the achievement: “The recognition of our annual report, prepared especially for our 30th anniversary, on a prestigious international platform is in valuable to us. Looking ahead, we aim to continue this strong alignment with our business partners through solutions – both practical and innovative – that help shape the future of global aviation.”

Crown Prince of the Former Libyan Kingdom, Mohammed El-Senoussi made the following remarks in his statements;

“Two crucial longer-term shifts can in large part explain the difficulties Libya has faced in finding a path to stability and progress over the last decade. Over the past few months, we have launched a Libya-led initiative to try and reverse these shifts and create the conditions for a solution that can secure a better future for our country.

The first of these detrimental shifts is that Libya has forgotten the way to create the unifying national consensus that was first built in the pre 1951 Independence era. Creating national consensus for joining three provinces into a unified independent country for the first time in its history, for example, was how Libya came into being on 24th December 1951.  After the coup in 1969, Libya was governed through force, not consensus.  In the last decade, after the former regime’s collapse, the country has tried to find a way back to a national consensus, but after multiple attempts and with international support, Libyans have not regained it.

EL-SENOUSSI: “A NEW LIBYA-LED NATIONAL DIALOGUE”

The second significant shift was losing the democratic path that Libya had been on until the 1969 coup. In 1951, Libya was founded as a constitutional democratic monarchy, with a written constitution that provided for a parliamentary democracy with adult suffrage, an independent judiciary and separation of powers. Libyan citizens had rights more advanced than in many other democracies at that time, with the period between 1951 to 1969 being referred to by many Libyans as our country’s “Golden Era”. But after the 1969 coup, this democratic path was lost to a dictatorship. The various attempts over the past decade to restore democracy to Libya have failed because the form of democracy being implemented does not fit. Libya has a unique history and country, with competing affiliations to tribe, region, city, ethnicity and other, that cannot be successfully incorporated into the form of democracy being considered.

However, over the past few months, we have launched a new Libya-led National Dialogue that is addressing these issues, re-creating a genuine national consensus for returning to a democratic model that can work in Libya. This new National Dialogue has been a significant development since the last Independence Day.”

“LIBYAN DEMOCRATIC MODEL WAS BUILT ON A PLATFORM OF A CONSTITUTIONAL MONARCHY”

“It is actually democracy restoration which is at the centre of things. As I mentioned, Libya’s democratic model was built on a platform of a constitutional monarchy, as this is the form of democracy that best fits Libya’s unique demography and history. But it is a democracy at heart. There are many other models of democratic constitutional monarchy in the world today including in Sweden, Netherlands, United Kingdom, Denmark, Norway, Malaysia and Japan. These are amongst the world’s most successful and contemporary democracies. Each evolved from, and is consistent with, the country’s own history, culture and national identity. It was the same in Libya.

To rebuild national consensus in Libya for returning to our own democratic model, one that works for us Libyans, I am working actively in the footsteps of our forefathers who succeeded once before in this endeavour.

An important fact that has been under-appreciated, is that Libya faced similar, though of course not identical, challenges immediately after World War II. The ravages of the multi-decade Italian colonization, World War II itself where Libya was a field of battle, set in the context of the same tribal, regional and ethnic affiliations and fissures you see today, combined to create a political landscape possibly even worse than we face today. But Libya found a way out to herald in its Golden Era immediately after.

It did so by relying on its own cultural and historic norms, falling back on its own national identity, to implement political processes and constructs that had intrinsic legitimacy, the necessary national significance to be unifying, as well as the necessary symbols and institutions that fostered loyalty and patriotism to make reconciliation and nation building possible.

A similar mechanism and approach is what the new Libyan National Dialogue is about. After years of failed political experimentation, this is perhaps now the only approach that can succeed. This new National Dialogue is meticulously organized in phases, prioritizing inclusivity, reconciliation, legitimacy and national unity built on a celebration of Libya’s diversity and national identity.”

“THE FORMULA FOR A GOVERNANCE SYSTEM CAN AGAIN WORK IN LIBYA”

“The Libyan crisis is systemic and multifaceted. To address our issues, we need to adopt a governance system founded on a constitution, with properly working institutions that can deliver the aspirations of the Libyan people.

As I have explained above, the formula we have available for a governance system that can again work in Libya, is the one that worked before. The 1951 Independence Constitution describes it in detail. It is a practical, workable, living, democratic formula, and the only one with the necessary legitimacy, won through a national consensus reached when Libya faced very similar problems to the ones it faces again today.

The new National Dialogue we have recently launched, aims to build the necessary national consensus to restore the Independence Constitution. Once constitutional governance is restored, with institutions of state in place, then Libya will be able to manage its resources transparently and with accountability, to build the future for our country that our people rightly deserve.”

 EL-SENOUSSI:  “TURKEY’S MANY CAPABILITIES AND EXPERTISE IN DEVELOPMENT AND GROWTH”

“Turkey is a significant and important country on the world stage with whom Libya has had a long and successful history. Not only because of this historical relationship, but also because of Turkey’s many capabilities and expertise in development and growth, it will be an important partner and ally helping Libya with its urgent needs across multiple sectors.

Turkey's economy is diverse, from agriculture to industry and services, and can offer valuable expertise and resources for Libya's development across multiple sectors. Having recognised the importance of Turkey’s potential role in Libya’s reconstruction and sustainable development, we would encourage Turkey, alongside other nations with an affinity for our country, to support the new Libyan National Dialogue that we are now pursuing.”

“GOOD GOVERNANCE IS A FOCUS ON A WORLD-CLASS EDUCATION SYSTEM”

“Simply put, the youth are Libya’s future. But their ability to participate in Libya’s governance has been severely restricted due to the current state of chaos in our country. Understandably, Libya’s youth have been growing steadily more impatient because there has been no progress.

A key part of good governance is a focus on a world-class education system to empower Libya’s youth with the knowledge and skills necessary to compete and succeed in the modern age of high technology and continuous innovation. It is the youth that will create the new companies and industries Libya needs to grow its economy productively. It is the youth’s energy and ambition that will catapult Libya forward to find its rightful place in the world as a successful nation.

I have no doubt that the youth are ready, willing and able to engage in helping build a new and successful Libya. We must now return to a proper unified functioning country to make sure they are given the opportunity to do so.”

Milvest, a Miller Holding subsidiary, inaugurated the Kinshasa Congress and Finance Center in the Democratic Republic of Congo's capital. The center seeks to shape the city's identity not only through its architectural features but also by integrating living spaces.

Turhan Mildon, Chairman of Miller Holding's Board of Directors, expressed pride in completing one of Africa's most ambitious projects, stating, " Kinshasa Congress and Finance Center has not only pioneered the development of the country but also a good cooperation between Turkey and the Democratic Republic of Congo."

Mildon provided details about the center, remarking, "This location comprises two significant projects. On one hand, we've constructed a complex featuring seven buildings, including the region's most luxurious hotel. We are changing the face of the city with a 3 thousand square meter demonstration pool, shopping venues, and social areas built with high technology. In addition to all these, we will also have other buildings that will enable the development of trade here. We have also completed the congress hall and two rentable office blocks."

Highlighting the contributions of 3,000 Congolese and over 2,300 Turks, Mildon emphasized, "This site will not only generate employment during construction but will also serve as a hub for jobs after that. The Kinshasa Convention and Finance Center is projected to create around 5,000 job opportunities, encompassing services from the ministries of finance and budget."

MORE THAN 60 MILLION DOLLARS EQUITY INVESTMENT FOR THE HOTEL

Mildon underscored the substantial investment in the hotel, stating, "The entire infrastructure of the Finance Center is owned by the Democratic Republic of Congo. Our significant agreement involves constructing a luxury hotel under a global chain brand. We will manage and subsequently transfer this hotel to the Democratic Republic of Congo administration. A capital investment exceeding $60 million has been allocated for this hotel, marking an exemplary public-private partnership for Congo."

"As a holding, our motto is always: 'We stride into the future with firm steps!'" Mildon remarked. "This ethos resonates in the Democratic Republic of Congo. Each endeavor we undertake here bolsters confidence in the future. We envision the center becoming a symbol of Kinshasa's progress, further strengthening Turkey's relationship with the Democratic Republic of Congo."

A 144% YOY SURGE IN NET PROFIT TO TL 412 MILLION FOR THE FIRST 9-MONTHS OF 2023

The company's net profit for the first nine months of 2023 recorded a remarkable surge of 144% when compared to the same period in 2022 to reach 412 million Turkish Lira (TL). This net profit figure, representing a net profit margin of 29.6%, underscores the company's effective business strategies and operational excellence. DESA Leather's balance sheet size at the end of the first nine months of 2023 had expanded by 44.4% compared to the end of 2022 to reach TL 1.9 billion. The company's equity also exhibited a substantial 71.1% increase to TL 982 million during the same period, affirming DESA's solid financial foundations.

NINE-MONTH FIGURES SHOWCASE DESA'S SUCCESSFUL GROWTH IN BOTH DOMESTIC AND INTERBATIONAL MARKETS 

DESA achieved remarkable growth in net sales during the first nine months of 2023, recording net sales of TL 1.4 billion, a 57% increase compared to the same period last year. A total of 63% of the sales were domestic sales with the remaining 37% consisting of export sales. DESA's domestic sales increased by 46 percent during the same period, international sales experienced a substantial growth of 79 percent. Meanwhile, the company recorded TL416mn EBITDA in the first nine months of 2023, up 79% YoY. The EBITDA growth exceeded sales growth, and the company attained an EBITDA margin of 29,8 % in the first nine months of 2023, up 3.7pp YoY. 

A STRONG NET CASH POSITION OF TL 666 MILLION 

DESA's net cash position stood at TL 666 million at the end of the third quarter, demonstrating the company's solid financial foundation. The company's strong financial position signals its readiness to support future growth and opportunities. Commenting on the results, Burak Çelet, the CEO of DESA, said, "At DESA, we view our commitment to our customers as one of the key factors behind our financial success. We are determined to press ahead with our investments and efforts to achieve further growth and success. Our company's impressive financial results are a result of our dedication to corporate values such as our focus on customers, quality and innovation. We remain committed to providing our customers in Turkey and around the world with the best products and services. With our financial success and strategic growth goals, we look ahead to 2023 with optimism. Our sustainable growth and the value we generate for our customers serve as a guiding light for our future projections."

Known for its high-quality leather products and distinctive designs, DESA serves a wide customer base in both national and international markets. The company is recognized for its commitment to customer satisfaction, sustainability, and corporate responsibility.

MEETING CUSTOMER NEEDS WITH AN EXPANSIVE PRODUCT RANGE 

"Our operations in Turkey encompass a wide range of product manufacturing and distribution activities, from leather production to clothing, bags, and accessories. We also continue to expand in the retail sector, managing a total of 114 stores. We added five new stores to our chain in 2023 with four more store openings planned by the end of the year. DESA seeks to dynamically broaden its retail operations in emerging regions and new areas."

CONTINUING ESTABLISH A PRESENCE ON THE INTERNATIONAL STAGE THROUGH ITS GROWTH STRATEGY 

With its expertise and experience in luxury leather apparel, bags, and accessories in Turkey and on the global stage, DESA is acknowledged as a significant contender in the international fashion arena. DESA's outstanding financial performance in the third quarter of 2023 has garnered attention and the company is expanding its showroom activities in fashion hubs such as Italy and France, advancing towards global branding.

"In the third quarter of 2023, DESA took substantial steps in alignment with our growth strategies. Our expansion through showroom activities in significant fashion centers like Italy, France, Germany and the UK underscores our attainment of branding objectives. Our NINETEENSEVENTYTWO DESA collection is now available in 141 select locations worldwide, setting the pulse of global fashion."

INTERNATIONAL SUCCESS: AN EMERGING BRAND: DESA & 1972 DESA 

DESA's CEO, Burak Çelet, added, "Events at Milano and Paris Fashion Week have elevated DESA on the international stage. In 2023, we successfully presented the sale of our Spring Summer 2024 collections at the Milano RG Showroom. Additionally, we showcased our new collections in Paris and Milan. We are steadily progressing towards our goal of becoming an international brand."

DESA'S ASCENT IN THE FASHION WORLD: NEW ACHIEVEMENTS IN MILAN AND PARIS 

"WE SET THE PULSE OF GLOBAL FASHION"

DESA achieved significant success in the Milan and Paris fashion weeks. In the first half of 2023, DESA's collections attracted considerable attention in the RG Showroom Milano events. The Spring&Summer'24 collections were also showcased with great success in Paris and Milan. Burak Çelet, CEO of DESA, assessed the company's success in the fashion world, stating, "With our NINETEENSEVENTYTWO DESA collection, available in 141 select locations worldwide, including Italy, Germany, France and Japan, we set the pulse of global fashion. With these developments, we are steadily progressing towards our goal of becoming an international brand."

BURAK ÇELET: "WE ARE PROGRESSING TOWARDS OUR GOALS WITH OUR SUSTAINABILITY AND GROWTH-FOCUSED EFFORTS"

Burak Çelet continued, "since our establishment in 1972, we have become one of the leading manufacturers of luxury leather products worldwide through our consistent efforts. Once again, we have proven our commitment to sustainability. We received the LWG Gold rating in the Leather Working Group assessment with a high performance in 17 critical areas, including water usage, energy consumption, waste management and the use of approved chemicals. This rating is a result of our sensitivity in leather processing processes." DESA's CEO also emphasized their environmentally-friendly projects, stating, "We will donate an additional 10,000 trees to the General Directorate of Forestry, following our previous donation of 20,000 trees. We aim to plant 100,000 trees by the 100^th anniversary of our Republic. Additionally, our company has started using carbon footprint calculation for all our factories to accurately measure and manage its environmental impact."

Burak Çelet also noted that in September 2023, the company had taken an important step towards collaboration with DESA's subsidiary, DESA Internazionale S.R.L., to cooperate with the Tuscany Region and the Municipality of Poppi, through a Memorandum of Understanding signed in the first week of September. This collaboration will cover investment in R&D centers, employee training, regional incentives, communication, and marketing activities, contributing not only to the regional economy but also towards alignment with socio-economic and environmental sustainability.

“We celebrate our impressive performance and success in sustainability in the first nine months of 2023 with tremendous pride and determination alongside all our colleagues. DESA has proven itself with its sustainability, growth strategies and international expansion. The third-quarter results for 2023 indicate that our company is progressing steadily toward its planned goals. With our growth strategy and sustainability principles, we continue to look to the future with hope.”

This collection draws inspiration from the women who have played a significant role in shaping Anatolia's distinctive intellectual heritage.

The 100-piece collection, which pays tribute to the world's most mystical lands, was unveiled in a fashion show featuring 100 models on the catwalk at Tersane Istanbul on Thursday, October 26th.

ÖZGÜR MASUR CELEBRATES THE 100TH ANNIVERSARY OF OUR REPUBLİC WITH ANATOLA BY ÖZGÜR MASUR COLECTION 

The designer, who infused Anatolian civilization-inspired forms into Özgür Masur's universe and drew inspiration from various art movements, completed the new collection after a three-year research process at women's institutes throughout Türkiye.

Highlighting the value that women contribute to this heritage, Özgür Masur combines traditional production techniques and Anatolian fabrics with contemporary designs.

This journey spans a century of Anatolian history, connecting civilizations and commemorating a special year for our Republic.

Masur associates each embroidery detail with a unique social story, breathing life into captivating elements of Anatolian culture.

Techniques like macrame, needle lace, and wire crushing, executed with bold craftsmanship, showcase Özgür Masur's distinctive signature.

The entire collection, crafted using local methods and skilled artisans, seamlessly incorporates scarf tying, carpet weaving, and tile patterns specific to the region, once again unveiling Masur's exceptional couture talent.

Transforming society into civilization through cultural elements, the designer presents a fresh take on classical aesthetics with the "Anatolia by Özgür Masur" collection.

Embracing a composite approach to couture craftsmanship inspired by the essence of Anatolia, this collection sheds light on the social and psychological pressures women face due to customs and traditions.

Drawing from numerous ethnic influences, such as ikat fabrics, kutnu, wire cut, and needle lace, that resonate with those who journey through Anatolian lands, Özgür Masur encapsulates not just forms, but also emotions.

The collection unveils a universal language through an avant-garde modern art deco perspective.

ÖZGÜR MASUR: "ANATOLIA COLLECTION İS GIFT TO MY COUNTRY"

Özgür Masur describes this Anatolia collection as a gift to the country he calls home. Özgür Masur says, "This is my second signature collection, and throughout this journey, I sought to express my own identity. With Anatolia, I aimed to create a collection that pays tribute to the women of our nation and tells the stories concealed within these lands from a female perspective. Like every inhabitant of this region, I drew inspiration from our Republic while undertaking this endeavor. Consequently, it evolved into a narrative spanning not only a century but also a hundred unique pieces. Regardless of the circumstances, I remain committed to celebrating the strength of women, as the Republic fosters limitless, boundless, and unwavering thinking."

Choreographed and produced by Uğurhan Akdeniz, the fashion show featured styling work by Burak Sanuk. Ece Birsen crafted the make-up designs using Kryolan products. İbrahim Zengin, along with the No21 team, created the hair designs for the show.

KAAN GÜR

Regarding Akbank’s syndicated loan, Akbank CEO Kaan Gür noted, “Despite the challenges in the global economy, we have renewed our syndication beyond our target, with US 600 million and 146% roll-over ratio. We would like to thank all investors and relationship banks who participated and supported our transaction.”

LEVENT ÇELEBİOĞLU

LEVENT ÇELEBİOĞLU: "WE CONTINUE TU UPHOLD OUR SUSTAINABILITY (ESG) PERFORMANCE CRITERIA AS HIGH AS WE DID IN PREVIOUS TRANSACTIONS"

Highlighting Akbank's adherence to ESG standards by maintaining high levels of sustainability performance criteria in syndication transactions, Levent Çelebioğlu, Executive Vice President of Akbank Corporate & Investment Banking said, “We continue to demonstrate our commitment to our sustainability strategy through our syndication transactions. With a 75 bps cost reduction compared to our previous transaction and keeping up with our tradition of scaling back, we have utilized the limited amount of USD 600 million from a record 168% of commitments. The interest and participation to our new facility confirms Akbank’s position in the Turkish banking sector as the pioneering institution in sustainability. We will continue our efforts that lead the sector in sustainability.”

(“On the Spot" exhibition / Anonymous, Panorama of Istanbul from the Galata Tower, section, early 19th century, 40 x 350 cm. Suna and İnan Kıraç Foundation Orientalist Painting Collection)

APPOACHING A HISTORICAL COLLECTION WITH A FUTURE-ORIENTED PERSPECTIVE 

Souvenirs of the Future springs from the Suna and İnan Kıraç Foundation Kütahya Tiles and Ceramics Collection and focuses on the memories recalled through objects whilst exploring the connections between memory and future imaginings through a contemporary lens. The cultural and symbolic value and significance of objects taken as souvenirs, those that remind us of a certain place and time, or those that are collected, weave together personal journeys and the memory of the region. The exhibition approaches the collection with a future-oriented perspective, aiming to capture it through contemporary works derived from it. Instead of a nostalgic attachment to the past, it proposes contemplating how the future will be remembered and focuses on memory's future-oriented functions.

(“On the Spot” exhibition / Philippe von Gudenus, The view of the city of Constantinople, the capital of the Ottoman Empire, first part, 1740. 44 x 410 cm Suna and İnan Kıraç Foundation Istanbul Research Institute Library)

The exhibition comprises four sections: “Reminiscences of Motifs” brings together works inspired by motifs used in ceramic decorations. In the “Memory of Objects” section, stories are told through ceramic objects, focusing on contemporary reflections of material culture. “Memory of the Region” presents spatial interventions and site-specific installations, while the section titled “Remembering the Future” brings together speculative objects, videos, and photographs to create future memory artefacts.

(“On the Spot” exhibition / Henry Aston Barker, Key to a Series of Eight Views forming a Panorama of the City of Constantinople and its Environs taken from the Tower of Galata, 1811. 32 x 32 cm British Library)

Curated by Ulya Soley and brought together in memory of Suna Kıraç who brought together the Kütahya Tile and Ceramics Collection exhibited at the Pera Museum, the exhibition also includes a selection of ceramic pieces from the collection that inspired the commissioned works.

(“On the Spot" exhibition / Joseph Warnia-Zarzecki, Coffee on the Dolmabahçe Ridges, late 19th century. 68 x 98 cm. Suna and İnan Kıraç Foundation Orientalist Painting Collection)

Souvenirs of the Future includes works by the artists Adriana Varejão, Aslı Çavuşoğlu, Bilal Yılmaz, Burçak Bingöl, Candice Lin, Deniz Eroglu, Elif Uras, Francesco Simeti, Jorge Otero-Pailos, Livia Marin, Metehan Törer, Neven Allgeier, Oddviz, Skuja Braden, Taner Ceylan, Volkan Aslan, Yasemin Özcan and Zsófia Keresztes The exhibition is accompanied by a thorough catalogue with texts by Ulya Soley, Glenn Adamson, Maurizia Boscagli and Dinos Kogias. 

("Souvenirs of the Future" exhibition / Metehan Törer, Those Born to the Surface of the Earth, 2023. Ceramic installation, Variable dimensions. Courtesy of the artist. Photograph: İbrahim Karakütük)

WHERE DOES ISTANBUL STAND IN THE HISTORY OF THE PANORAMA?

On the Spot: Panoramic Gaze on Istanbul, A History aims to shed new light on the history of Istanbul’s representations through panoramic paintings and photographs. It critically approaches the history of the “panorama” and contextualizes its many iterations. While examining the layered relationships in the production and consumption of panoramic images, the exhibition also explores the circulation of these images among different audiences, their receptions, and the connections between various media that have gained popularity over centuries.

("Souvenirs of the Future" exhibition / Adriana Varejão, Carpet Style Tilework on Canvases, 1999. Oil on canvas installation made up of 45 canvases. Variable dimensions. Courtesy of the artist and the Monica and Oded Goldberg Collection.)

An early 19th-century panorama of Istanbul, previously not published or exhibited, is being unveiled for the first time with the exhibition. As it brings together some of the most remarkable works by artists who captured a panoramic view of Istanbul, such as Barker, Gudenus, Schranz, Melling, Dunn and Robertson, it also reveals how the panoramic perspective has been used to document different phenomena in Istanbul's history, from fire disasters to industrialization. While concentrating on 19th-century panoramas and panoramic images, On the Spot invites the audience to a comprehensive reconsideration of the long history of the panoramic perspective dating back to the early modern period and Istanbul's place within this history.

("Souvenirs of the Future" exhibition / Livia Marin, Remnants, 2018. Fragments of photographs depicting ceramic objects thread, paper, casein paint, gold leaf, wooden frame. Variable dimensions. Courtesy of the artist)

The exhibition On the Spot: Panoramic Gaze on Istanbul, A History portrays the circulation of this form of representation in the Ottoman world and Europe through a diverse selection of materials, including ephemera and archival documents in addition to paintings, prints, and photographs, while exploring the fluidity within this diversity and the dialogues between different media.

("Souvenirs of the Future" exhibition / Oddviz, Voronoi, 2020. Single channel 4K video, 3’30’’. Courtesy of the artis)

Curated by Çiğdem Kafescioğlu, K. Mehmet Kentel and M. Baha Tanman, the exhibition is accompanied by a comprehensive catalogue with contributing authors Ahmet A. Ersoy, Namık Günay Erkal, Erkki Huhtamo, Tarkan Okçuoğlu and A. Hilal Uğurlu. The exhibition catalogue contains articles that aim to re-read urban history and histories of architecture, art, photography, and modern consumption, through the frame provided by panoramic images.

Pera Museum’s new exhibitions will be on display from October 26, 2023 to February 25, 2024.

Pera Museum is open Tuesday to Saturday from 10:00 a.m. to 07:00 p.m. and on Sundays from 12.00 p.m. to 06.00 p.m. Admission is free for all visitors on Fridays from 06:00 p.m. to 10.00 p.m. as part of "Long Friday". Free admission for students on Wednesdays as part of "Young Wednesday".