Good Governance
I
Value Created for Shareholders and Investors
Value Created for Shareholders and Investors
Our market capitalization, which exceeded USD 1 billion in 2023, remained at this level in 2024 despite market conditions, achieving an average annual value increase of 13% in USD terms.
Since our initial public offering in 1996 under the ticker symbol "AKCNS" on Borsa Istanbul, we have maintained a strong presence in the market. Our shares, listed on the Borsa Istanbul Star Market, are held as follows: 39.72% by Hacı Ömer Sabancı Holding A.Ş., 39.72% by Heidelberg Materials, and 20.56% are publicly traded. By the end of 2024, approximately 16% (2023: 20%) of our publicly traded shares were held by foreign investors, while the remainder was distributed among nearly 58,000 (2023: 25,000) local individual and institutional investors.
Our shares are included in key Borsa Istanbul indices such as BIST Industry, BIST 500, BIST Star, BIST Istanbul, BIST Stone & Soil, BIST Participation 100, and BIST Participation indices. As a result of our consistent dividend policy, we are also listed in the BIST Dividend and BIST Dividend Participation All indices. Through our ongoing sustainability-focused efforts, we continue to improve our scores on the LSEG (formerly Refinitiv) platform, ensuring our place in the BIST Sustainability and BIST Sustainability Participation indices. Additionally, we have maintained our inclusion in the MSCI Global Small Cap Index, which we joined in 2023.
In 2024, we achieved stable growth, in line with the performance of the BIST 100 and BIST Stone & Soil indices. With an 86-point rating on the LSEG platform, we sustained our position in its highest relative performance category. Furthermore, we remained among the top three companies out of 126 international firms in the construction materials sector, further strengthening investor confidence. Our strong investor relations were further recognized through our inclusion in the Extel (Institutional Investor) Industry Benchmarking list.
In 2023, our market value exceeded USD 1 billion, and despite market fluctuations, we successfully sustained this valuation in 2024, achieving an annual average dollar-based value increase of 13%. This strong performance enabled us to expand our investor base while continuing to hold the highest institutional investor ratio in our industry.
With our corporate identity, sustainable stability, and continuous commercial success, we have become a key long-term investment destination within the industry. As one of the most transparent cement companies monitored by equity research units in Türkiye, we maintained robust analyst coverage. In 2024, 12 institutions regularly participated in Akçansa's investor surveys and published equity research reports. By year-end, 7 analysts (2023: 9 analysts) rated our stock as "BUY/Outperform", while 5 analysts (2023: 5 analysts) issued a "HOLD/Neutral" recommendation.
We foster strong communication with our investors by sharing financial results and industry insights at least four times a year through digital platforms. To ensure easy access to key data, we publish quarterly analyst presentations and financial summaries in both Turkish and English on our website. In 2024, we conducted 44 investor meetings, engaging with over 100 analysts and investors through one-on-one discussions and participated in three major local and international conferences.
During investor meetings, we highlight our core strengths and sustainability-focused investments. We continue to present a transparent and sustainable equity story by addressing a wide range of topics, from developments in energy costs to potential changes in the cement sector.
Legal Disclaimer
Akçansa 2024 Integrated Annual Report (‘Report’) has been prepared by Akçansa Çimento Sanayi ve Ticaret A.Ş. (‘Akçansa’). The scenario analyses aligned with TSRS, the financial materiality studies, and all assessments related to physical and transition risks stemming from climate change—prepared by Akçansa—are based on the company's data, calculations, expert opinions, and compliance with national and international standards. Akçansa Çimento Sanayi ve Ticaret A.Ş. shall not be held responsible for any losses or damages that may arise should third parties or entities rely on these assumptions.
