Koç Holding Companies
www.koc.com.tr
1938 TURKEY’S FIRST JOINT STOCK COMPANY, FIRST TURKISH LIGHT BULB FACTORY. 1956 FIRST PRIVATE FIRST TURKISH FIRST 1964 TURKEY’S FIRST CABLE FACTORY. 1966 FIRST TURKISH PASSENGER CAR, ANADOL.1966 TURKEY’S FIRST LPG TANKER. 1968 FIRST BLACK-WHITE TELEVISION. 1969 FIRST INSTITUTIONALIZATION OF SOCIAL RES-
KOÇ HOLDİNG 2011 ANNUAL REPORT
FOUNDATION. 1975 TURKEY’S FIRST PRIVATE R&D CENTER. 1975 TURKEY’S FIRST FIVESTAR HOTEL, TALYA. 1979 TURKEY’S FIRST EXPORT OF FARM TRACTOR. 1980 FIRST PRIVATE MUSEUM, SADBERK HANIM MUSEUM. 1982 FIRST CATALYTIC STOVE, GAZAL. 1984 TURKEY’S FIRST DEPARTMENT OF ENVIRONMENTAL ENGINEERING. 1985 FIRST TURKISH DISHWASHFIRST EXPORT OF REFRIGERATOR TO USA. 1986 FIRST TURKISH DIESEL ENGINE. 1989 FIRST 1994 FIRST TURKISH COMPANY AMONG “WORLD’S TOP 500 INDUSTRIAL ENTERPRISES”. 1994 TURKEY’S FIRST MUSEUM OF INDUSTRY. 1997 FIRST PRIVATE COMPANY TO RECEIVE THE NATIONAL QUALITY AWARD, FIRST TURKISH AUTOMOTIVE COMPANY TO RECEIVE ISO:9000:2000 QUALITY CERTIFICATION. 2001 TURKEY’S FIRST AUTOGAS. 2005 FIRST TURKISH COMPANY TO ENTER “FORTUNE GLOBAL 500” LIST. 2009 FIRST TURKISH AUTOMOTIVE COMPANY TO EXPORT VEHICLES TO USA, FORD OTOSAN.
AT KOÇ, MANAGERS WHO THINK THE UNTHINKABLE PROPEL TURKEY FORWARD.
CONTENTS 2 Koç Group at a Glance 2 Summary Figures of Koç Group 3 Our Performance 4 2011 in a Nutshell 5 Operational and Financial Outlook 6 Shareholder Value and Investor Relations 8 Milestones 10 From the Management 10 Honorary Chairman’s Message 12 Chairman’s Statement 14 Board of Directors 16 CEO’s Letter 18 Executive Management 20 Koç Group in 2011 20 Human Resources 22 Research & Development 24 Risk Management 28 Energy 38 Automotive 48 Consumer Durables 54 Banking and Insurance 60 Other 70 Corporate Social Responsibility 78 Corporate Governance and Financial Statements 78 Corporate Governance Alignment Report 87 Board of Directors’ Report 90 Auditor’s Report 91 Consolidated Financial Statements and Independent Auditor’s Report
1938 TURKEY’S FIRST JOINT STOCK COMPANY, FIRST TURKISH LIGHT BULB FACTORY. 1956 FIRST PRIVATE FIRST TURKISH FIRST 1964 TURKEY’S FIRST CABLE FACTORY. 1966 FIRST TURKISH PASSENGER CAR, ANADOL.1966 TURKEY’S FIRST LPG TANKER. 1968 FIRST BLACK-WHITE TELEVISION. 1969 FIRST INSTITUTIONALIZATION OF SOCIAL RES-
KOÇ HOLDİNG 2011 ANNUAL REPORT
FOUNDATION. 1975 TURKEY’S FIRST PRIVATE R&D CENTER. 1975 TURKEY’S FIRST FIVESTAR HOTEL, TALYA. 1979 TURKEY’S FIRST EXPORT OF FARM TRACTOR. 1980 FIRST PRIVATE MUSEUM, SADBERK HANIM MUSEUM. 1982 FIRST CATALYTIC STOVE, GAZAL. 1984 TURKEY’S FIRST DEPARTMENT OF ENVIRONMENTAL ENGINEERING. 1985 FIRST TURKISH DISHWASHFIRST EXPORT OF REFRIGERATOR TO USA. 1986 FIRST TURKISH DIESEL ENGINE. 1989 FIRST 1994 FIRST TURKISH COMPANY AMONG “WORLD’S TOP 500 INDUSTRIAL ENTERPRISES”. 1994 TURKEY’S FIRST MUSEUM OF INDUSTRY. 1997 FIRST PRIVATE COMPANY TO RECEIVE THE NATIONAL QUALITY AWARD, FIRST TURKISH AUTOMOTIVE COMPANY TO RECEIVE ISO:9000:2000 QUALITY CERTIFICATION. 2001 TURKEY’S FIRST AUTOGAS. 2005 FIRST TURKISH COMPANY TO ENTER “FORTUNE GLOBAL 500” LIST. 2009 FIRST TURKISH AUTOMOTIVE COMPANY TO EXPORT VEHICLES TO USA, FORD OTOSAN.
AT KOÇ, MANAGERS WHO THINK THE UNTHINKABLE PROPEL TURKEY FORWARD.
CONTENTS 2 Koç Group at a Glance 2 Summary Figures of Koç Group 3 Our Performance 4 2011 in a Nutshell 5 Operational and Financial Outlook 6 Shareholder Value and Investor Relations 8 Milestones 10 From the Management 10 Honorary Chairman’s Message 12 Chairman’s Statement 14 Board of Directors 16 CEO’s Letter 18 Executive Management 20 Koç Group in 2011 20 Human Resources 22 Research & Development 24 Risk Management 28 Energy 38 Automotive 48 Consumer Durables 54 Banking and Insurance 60 Other 70 Corporate Social Responsibility 78 Corporate Governance and Financial Statements 78 Corporate Governance Alignment Report 87 Board of Directors’ Report 90 Auditor’s Report 91 Consolidated Financial Statements and Independent Auditor’s Report