İŞBANK ANNUAL REPORT 2014

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ACTIVITIES
İŞBANK ANNUAL REPORT 2014 45
While debt instruments issued by İş Yatırım
are publicly traded on the market, İş Yatırım
is the only local brokerage house in the
Turkish capital markets to issue brokerage
house warrants.
Glass
Şişecam
The founder and undisputed leader of
the Turkish glass industry
Founded in 1935, Türkiye Şişe ve Cam
Fabrikaları A.Ş. (Şişecam) is the holding
company of Şişecam Group; the Group
comprising of 63 companies that operate in
flat glass, glassware, glass packaging and
chemicals, mainly soda ash and chromium
chemicals. Besides Şişecam - the Group’s
parent company - some other Group
companies’ shares (Trakya Cam, Anadolu
Cam and Denizli Cam ve Soda Sanayii) are
traded in the Borsa Istanbul as well.
The Şişecam Group carries out production
in facilities and plants located in Turkey as
well as in Egypt, Russia, Georgia, Bulgaria,
Bosnia-Herzegovina, Italy, Ukraine,
Romania, Germany, Hungary, Slovakia and
India. Based on the end of 2014 figures,
producing 39% of their combined glass
output outside Turkey (as measured on a
tonnage basis) and obtaining 52% of their
total sales revenue from international sales,
Group exports amounted to USD 837 million
in 150 countries at end-2014. Şişecam
Group works to consistently increase its
production strength through investments
aimed at creating new capacity.
Positioned as one of Europe’s and the
world’s leading companies in the glass
manufacturing industry, Şişecam Group
ranked third to sixth in the world and
second to fourth in Europe, in terms of its
production capacity in glass manufacturing.
Taking the fourth spot in Europe in terms
of soda production capacity, the Group is
the world leader in the production of basic
chromium sulphate and sodium bichromate.
As of year-end 2014, Şişecam had total
consolidated assets worth TL 12.3 billion
and TL 7.2 billion in shareholders’ equity.
In May 2014, Standard & Poor’s affirmed
Şişecam’s long-term credit rating as “BB
+” and the outlook as “stable”; meanwhile,
Moody’s affirmed its long-term credit
rating as “Ba1” and the outlook as “stable.”
In addition, Şişecamwas evaluated for a
corporate governance rating for the first
time and rated 9.28 in December 2014.
7 of Şişecam Group companies were listed
in the 2013 edition of the “Turkey’s Top 500
Industrial Enterprises.”
Telecommunication
Avea
Turkey’s sole GSM 1800mobile operator
As of year-end 2014, Avea İletişim
Hizmetleri A.Ş. (Avea) has a market share
of 23% in the mobile telecommunications
market in Turkey with approximately 16.3
million subscribers.
According to the company’s IAS-compliant
financial statements, at the end of 2014,
Avea had total assets worth TL 6.9 billion
and TL 3.6 billion in shareholders’ equity on
an consolidated basis.
Offering customers innovative, distinctive
and high value added mobile communication
services, Avea regularly invests in projects
to expand its network infrastructure and
further develops its information technology
and R&D capabilities.
Other
Nemtaş
Maritime transportation
Nemtaş Nemrut Liman İşletmeleri A.Ş.
(Nemtaş) is a ship-owner company that is
active in shipping management, chartering
and brokering. The company undertakes
business operations with a fleet of five dry-
bulk vessels with a total capacity of 252,959
DWT. At the end of 2014, the company
had TL 490 million in total assets and TL
428 million in shareholders’ equity on an
unconsolidated basis.
ŞişecamGroup is one of the industry’s leading companies
in Europe and globally.