Annual Report • Mar 11, 2025
Annual Report
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ALKİM ALKALİ KİMYA ANONİM ŞİRKETİ ANNUAL REPORT FOR THE PERIOD 01.01.2024 / 31.12.2024
Esteemed Shareholders,
We left behind 2024 as a challenging period for the World and our Geography. Unfortunately, no positive developments were made regarding the Russia-Ukraine War and the Israeli occupation of Gaza. Donald Trump was elected President for the second time in the USA. Considering Trump's actions during his previous presidency, I predict that the world will experience an eventful 5-year period due to his practices that have almost turned into trade wars, both in terms of tariffs and quotas. I think that these developments will have economic, political and sociocultural effects on our country, especially the rupture we have been following recently in Syria, on our southern border.
As you know, last year's financial results were announced together with the financial statements prepared according to inflation accounting, including the previous periods. Inflation accounting has basically produced more meaningful results in terms of seeing the inflationary effects on assets and liabilities. Due to the impact of inflation, many publicly traded industrial companies closed the year 2024 with profits below those of previous years, while some ended the period with losses. Companies that have made investments or have ongoing investments, especially in the last 4-5 years, have been more affected by the negative effects of inflation in terms of financial results.
As Alkim Kimya, our Potassium Sulphate Production Facility, which we commissioned in the last quarter of 2021, was also exposed to the effects of inflation accounting practice in this sense. In 2024, our facility produced approximately 2.5 times more than the previous year. Of course, we have not yet reached our ultimate goals. In the 2-year period following the transition to production of the facility, we have overcome the problems we experienced in terms of potassium chloride supply. During these processes, we simultaneously expand our sales channels through one-on-one meetings with existing and potential customers, frequent visits, product promotions and participation in fair organizations, and increase our capabilities in this regard day by day. Our product is an exceptional fertilizer product worldwide with its organic structure, rich potassium content and 100% water solubility, and its use is increasing day by day both in the country and abroad. As we further increase our production capabilities in 2025, we see that potassium sulfate will make significant contributions to our Company, both financially and in terms of sustainability. Our processes in our sodium sulfate and salt operations continue as in previous years. Our Board of Directors and employees continue to work diligently to maximize the potential of these products.
Along with the issues I mentioned at the beginning of the article, I would also like to share some information about the financial results of 2024. As Alkim Kimya, we completed 2024 with a consolidated revenue of TL 4.69 Billion and a net loss of TL 164.6 Million. I believe that the fact that we do not have any financial debt and have a net cash position, and that Alkim Kağıt is in the final stages of its investment process, constitutes an advantage for our group for 2025 and beyond. I predict that 2025 and beyond will be the period when the fruits of the investments and work previously made on behalf of Alkim Kimya will begin to be reaped. Our Board of Directors and employees will continue to work with all their might to achieve this. As we aim to achieve these successes, we will continue to draw our strength from you, our valued shareholders and stakeholders.
In 2025, we will strive to achieve our goal of creating value for all our stakeholders, expanding our domestic and international operations, and becoming a global player in our industry with a quality-oriented production and service approach. Our company will also continue to make significant contributions to the country's economy with its high export performance, contribution to employment, environmental awareness and social awareness.
On behalf of our Board of Directors, I would like to express my gratitude to our valued stakeholders, our valued customers and our shareholders who have always supported us on this path we follow with determination, and wish them health and well-being.
M. Reha Kora Mechanical Engineer, MSc Chairperson of the Board of Directors
| HEAD OFFICE | : İnönü Cad No13 Taksim Beyoğlu/ İSTANBUL | |
|---|---|---|
| DAZKIRI FACILITIES | : Koralkim Sodium Sulfate Plant, Acıgöl Location | |
| Dazkırı/AFYONKARAHİSAR | ||
| CİHANBEYLİ FACILITIES | : Bolluk Sodium Sulfate Plant, Bolluk Lake Location Cihanbeyli/KONYA |
|
| ÇAYIRHAN FACILITIES Çayırhan |
: Çayırhan Sodium Sulfate Plant, Abdioğlu Deresi Location, | |
| Nallıhan/ANKARA | ||
| 1.6. | WEBSITE ADDRESS | :www.alkim.com |
1.7. PHONE NUMBER : (212) 292 22 66
The Company's Paid Registered Capital: TL 300,000,000.
The Company went public in 2000 by means of public offering by fully restricting the preferential rights of the existing shareholders. Alkim Kimya is listed at the Istanbul Stock Exchange under the code ALKIM.
Free Float Rate is 57.62%.
| Additional Definition Group |
Nominal | Nominal / Capital | Capital ( TL ) |
|---|---|---|---|
| Shares Traded in the Stock Exchange |
172,851,764 | 57.62 % | |
| Closed Shares | 127,148,236 | 42.38 % | 300,000,000 |
| Mehmet Reha Kora | 8.79 % |
|---|---|
| Ferit Kora | 7.79 % |
| Özay Kora | 7.02 % |
| Tülay Kora | 6.05 % |
Kora Holding A.Ş. 17 %
Alkim Kağıt Sanayi ve Ticaret A.Ş. has been an important bond paper manufacturer in Turkey from the incorporation up until today. Producing high grade paper pulp and photocopy paper, Alkim Kağıt serves the printing and packaging industry. The paper manufactured in this manner is packaged within the converting facilities in the required sizes for the printing, press and similar consumers. High-quality photocopy papers prepared at the A3-A4 production line, one of the most important departments of the facility, are highly preferred and intensively demanded at in the local and foreign markets.
In 2024, 83,586 tons of gross production was realized, all of the products produced were sold to domestic and foreign markets, and in the income statement prepared in accordance with the provisions of TAS 29, the revenue is TL 2,726,546,111 and the pre-tax loss is TL 135,467,407, and the net period loss is TL 140,707,261.
The average number of personnel of the Company as of December 31, 2024 is 231. (Average number of personnel as of December 31, 2023 was 216) Alkim Kağıt made an investment expense of TL 567,661,866 in 2024.
In addition, expenses totaling TL 30,759,283 (TL 32,966,444 in 2023) were made for underground and aboveground improvements, buildings, machinery, equipment, vehicles and fixed assets.
| January 01, December 31, 2023 | January 01, December 31, 2024 |
|
|---|---|---|
| Benefits to Employees | TL 36,424,223 | TL 36,810,472 |
Our facilities established with a maximum design capacity of 55,000 tons/year, where high, grade printing, office papers are manufactured, have achieved to employ such technological advances and high level of productivity to compete with the largest paper facilities in Europe within a period of 10 years based on technology investments starting from the very beginning.
As a result of revisions in respect of productivity and capacity increases starting from 2000, the actual annual capacity reached 80,000 tons/year and, thereafter increased to an amount of 90,000 tons/years with continuous capacity improvements during 2011, 2013 and 2014.
In the paper production facilities, the annual capacity may vary depending on the type and weight in grams of the products. The major portion of our production and sales is composed of high-grade and photocopy paper in 70-80 gr/m²; however, our factory also produces paper in different weights within 60 gr/m² – 260 gr/m².
Every phase of the production in the Alkim Paper Facilities is being controlled by DCS (Distributed Control System) and QCS (Quality Control System), the production is made in the utmost quality and supplied for the services of the printing sector. The papers manufactured with these systems are of high quality as per the respective paper standards. The facility produces high grade pulp offset, photocopy printing and industrial paper from 60 gr/m2 to 260 gr/m2.
In addition, the production range includes the production of cup base cardboard, white kraft paper and ivory paper, label paper, soap packaging paper, envelope paper, blueprint paper. The papers manufactured by means of the MASK (Finished Products Storage Inventory Control System) are automatically inspected with the barcode system at each point of the production stage up until the shipment thereof to customers and, all types of measures are taken to keep the high level of customer satisfaction. Alkim Kağıt generates steam electricity power for its own requirements with two cogeneration plants with a total generation capacity of 10.7 MW. Alkim Kağıt, which has attached great importance to nature and the environment since its establishment, has ISO 9001, ISO 14001, ISO 45001, ISO 50001 certificates, ECP Label ecological product certificate, and FSC (Forest Stewardship Council) certificate. It also has an accredited laboratory within the scope of TS EN ISO 17025 standard.
Alkim Kağıt decided to purchase a second paper machine with equipment that can produce high grammage in 2022 and has an additional capacity of 125,000 tons / year. Machinery and equipment have been brought to the country and work continues during the construction phase.
Alkim Sigorta Aracılık Hizmetleri Ltd. Şti. was incorporated in 04.12.2002 with a total capital of TL 20,000 subscribed by Alkim Alkali Kimya A.Ş. at 50% and by Alkim Kağıt Sanayi ve Ticaret A.Ş. at 50% and, the capital was increased to TL 80,000 in 2008 upon the resolution of the board of shareholders. The said capital increase was registered on 24.10.2008 and the resolution thereon was published on the Turkish Trade Registry Journal, issue no. 7179 on 31.10.2008.
It has increased its capital to TL 100,000 upon a resolution adopted at a general meeting held in 2014 using the retained profits from 2012, the said capital increase was registered on 21.05.2014 and, published through the Turkish Trade Registry Journal, issue no. 8577 on 27.05.2014.
Alkim Alkali Kimya A.Ş. was elected by the Board of Shareholders as Company Manager in line with the resolution adopted at the ordinary general meeting held for 2023 for a term of office of 1 years to carry out the business operations of the Company and, Berna Sarı was appointed to represent the said legal entity and, Deniz Yücel Alarçin was appointed as Insurance Agency Manager.
The right to act as an agency has been withdrawn from Anadolu Anonim Türk Sigorta Şirketi and Allianz Sigorta A.Ş. as of December 2002.
Pursuant to a resolution adopted at the Ordinary General Assembly Meeting held on 15.03.2023, during which the business operations in 2022 were deliberated upon, the profit for 2022 was not distributed to the shareholders but maintained within the company.
Alkim Sigorta has been established to provide accurate and sufficient insurance coverage for all the economic assets of the group with a great potential and, is currently operating in good stand. Alkim Sigorta Aracılık Hiz Ltd. Şti continues its status as a "large corporate agency" in the insurance sector with a portfolio size of approximately TL 14.16 Million based on insurance premium production as of the first half of 2024.
On 18.29.01.2024, a Service Agreement Elementary Insurances Consultancy was entered into Nart Sigorta ve Reasürans Brokerliği A.Ş. Insurances that could not be proceeded with Anadolu Insurance or Allianz Insurance through our agency, are processed through NART Insurance as of 2024. Our premium-based production at NART Sigorta as of the end of 2024 is approximately TL 58.50 Million. The majority of our customers is group companies.
| Portfolio Distribution as of the end of 2024 | On the basis of Insurance Premium |
|---|---|
| ALKİM ALKALİ KİMYA AŞ | 7.06 Million TL |
| ALKİM KAĞIT SAN.VE TİC.AŞ | 4.56 Million TL |
| OTHER COMPANIES AND PERSONS | 2.54 Million TL |
| TOTAL PORTFOLIO SIZE | 14.16 Million TL |
Out of the members of the Board of Directors, three members are elected among the candidates nominated by the Group "A" shareholders, two members by the Group "B" shareholders, two members by the Group "C" members, one member by the Group "D" shareholders and, one member by the Group "E" members.
The members of the Board of Directors were appointed for a term of office of three years at the Ordinary General Meeting held on April 25, 2024. The names, surnames and terms of office of the members of the Board of Directors are as follows; The Board of Directors of the Company consists of nine members.
| Name and Surname | Profession | Position | Position Start Date – End Date |
|---|---|---|---|
| M. Reha KORA | Mechanical Engineer, MSc |
Chairperson of the Board of Directors |
25.04.2024 – 25.04.2027 |
| A. Haluk KORA | Mechanical Engineer, MSc |
Vice Chairperson | 25.04.2024 – 25.04.2027 |
| Arkın KORA | Physics | Vice Chairperson | 25.04.2024 – 25.04.2027 |
| Ferit KORA | Business Administration |
Vice Chairperson | 25.04.2024 – 25.04.2027 |
| Kerim Oygur | Finance | Member | 20.01.2023 – 25.03.2024 |
| Tülay KORA | Business Administration |
Member | 25.04.2024 – 25.04.2027 |
| Azade BAŞAĞA | Communication and Sociology |
Independent Member |
25.04.2024 – 25.04.2027 |
| Aydın Orhan | Lawyer | Independent Member |
25.04.2024 – 25.04.2027 |
| Özgür Mungan | Finance | Independent Member |
25.04.2024 25.04.2027 |
The chairperson and members of the Board of Directors as well as the senior executives and the auditing board members are granted the authorities to represent, manage and audit the Company in accordance with the pertinent provisions of the Turkish Commercial Code and of the Articles of Association of the Company.
The committees formed within the Board of Directors have been created as follows in line with the Corporate Governance Principles published by the Capital Market Authority, with the resolution adopted by the Board of Directors on March 31, 2021 pursuant to the new memberships of the Board of Directors elected at the Ordinary General Meeting held on April 25, 2024.
| Audit Committee Members | Özgür Mungan– Chairman of the Audit Committee (Independent Member of the Board of Directors) Aydın Orhan - Member of the Audit Committee (Independent Member of the Board of Directors) Azade Başağa - Member of the Audit Committee (Independent Member of the Board of Directors) |
|---|---|
| Corporate Governance Committee Members |
Aydın Orhan – Chairman of the Corporate Governance Committee (Independent Member of the Board of Directors) A.Haluk Kora - Member of the Corporate Governance Committee (Vice-Chairman of the Board of Directors) Ferit Kora – Member of the Corporate Governance Committee (Vice Chairperson of the Board of Directors) Azade Başağa – Member of the Corporate Governance Committee (Independent Member of the Board of Directors) Özgür Öge- Member of the Corporate Governance Committee (Financial Affairs and Investor Relations Director) |
| Early Detection of Risk Committee Members |
Aydın Orhan – Chairman of the Early Detection of Risk Committee (Independent Member of the Board of Directors) Tülay Kora– Member of the Early Detection of Risk Committee (Member of the Board of Directors) |
The senior executives holding positions during the activity year of 2024:
| NAME AND SURNAME |
PROFESSION | COMPANY NAME | |
|---|---|---|---|
| M.Selçuk Denizligil | Chemist, MSc | General Manager | |
| M.Hakan Acun | Chemical Engineer, MSc | Director, Operations and Business Development |
|
| Özgür Öge | Business Administration-EMBA | Director, Financial Affairs and Investor Relations |
|
| Galip Çavdar Mining Engineer, Msc |
Mine Affairs Manager | ||
| Ersin Eren | Business Administration | Manager, Accounting & Budgeting and Financial Reporting |
|
| Berna Sarı | Business Administration | Finance Manager | |
| Mehmet Gül | Electrical Engineer | Business Manager, Çayırhan | |
| Ünal Arık | Mechanical Engineer | Business Manager, Dazkırı– Koralkim Facilities |
|
| Talip Aydeniz | Administrative Sciences | Business Manager, Cihanbeyli | |
| Ali Murat Özçelik | Geophysical Engineer | Human Resources Manager |
Average number of employees in 2024:
| Management and Office Personnel | Production | TOTAL |
|---|---|---|
| 54 | 343 | 397 |
Number of employees as of 31.12.2024:
| Management and Office Personnel | Production | TOTAL |
|---|---|---|
| 52 | 337 | 389 |
In the activity period of 2024, there has been no transaction performed by or on behalf of the members of the management boards with the Company in accordance with the permit granted at a general meeting and, no such activities subject to the non-competition rules have been performed by them or on their behalf.
Attendance fees may be paid to the members of the board of directors in accordance with the pertinent provisions of the Turkish Commercial Code. The remunerations to be paid each year to the members of the Board of Directors are determined by means of a resolution adopted at a General Meeting upon the respective proposal of the shareholders.
Dividends up to 4% of the net profit may be distributed to the members of the board of directors based on the article 16 of the articles of association provided that this must be approved at a general meeting. However, to date this rate has never exceeded 1.5%. It is applied between 0.75% - 1%.
Executive members of the Board of Directors may be paid monthly payments not exceeding the wage of the General Manager, in accordance with the policy as set forth for the senior executives.
The remunerations paid to the senior executives are determined based on their positions, legal liabilities and seniorities. The annual determination of the said rights is based on the results and realization of the targets of the Company.
The form and amount of the remunerations to be paid are determined by the board of directors.
It was accepted at the General Assembly Meeting held on April 25, 2024 to pay a gross remuneration of TL 42,500 per month to the members of the Board of Directors.
Attendance fees, remunerations, bonuses, gratuities in total: TL 42,929,979.63 Allowances, accommodation, representation and insurance expenses : TL 1,102,073.76 Total : TL 44,032,053.39
The company's total R&D expenditure in 2024 is TL 1,176,485.
Alkim Alkali Kimya AŞ Çayırhan Sodium Sulphate Plant is one of the most advantageous facilities in the Ankara / Nallıhan / Çayırhan Region, thanks to its largest reserve and logistics location. The reserve amount determined by the General Directorate of Mineral Research and Exploration ("MTA") in the mining area of 94.78 km 2 and an area of 9.45 km 2 by means of numerous of drillings is 192 million tons. As is known, 1/3 of glauberite is equal to pure sodium sulfate. There is tenardite ore (pure sodium sulfate), which is about 5% of the total reserve in the form of lenses not separately , calculated in the reserve calculation.
At the Çayırhan facility, the anhydrite(refined sodium sulfate) is produced by processing of the sodium sulfate solution obtained after the blasting of the side walls and the roofs of the panels formed by underground solution mining method and injecting water at certain temperature from the surface, in the crystallization and evaporation facilities.
For the patent containing our own invention in respect of solution mining, which we implement in the mine site, a use certificate was obtained from the Turkish Patent Institution in 2017.
The construction of Panel-14, Panel-15, Panel-16 and Panel-17, which are among the new underground production panels planned in the Mine Site, has been completed. Drilling work has been carried out for the new Pano-18, Pano-19 and Pano-20. Panel placements will be determined based on the drillings.
The Çayırhan Sodium Sulfate Facilities have the power plant to generate its own steam and electric energy requirement and all kinds of technical, administrative and social infrastructure installations and various by-units and all the support systems that are prerequisite for a chemical installation of this scale. The high-pressured steam generated in the powder coal fueled - viscose bedded steam boiler at our facility is passed from an opposite pressured turbine and meets 1/3 of the steam requirement necessary for the process, as well as the power requirement of the entire Facility. During the construction of this facility; all auxiliary units have been constructed at the size and capacity to meet the requirements of the additional investments in the following years.
Coal Consumption (2024) : Pulverized coal consumption in our Çayırhan facilities was 64,631
tons.
Electricity Consumption (2024 yılı) : Çayırhan Facilities total consumption: 29,376,909 kwh, Steam turbine electricity production: 10,296,221 kwh.
Sodium sulfate production in our Çayırhan Facilities (2024) was 237,700 tons, and 242,693 tons were shipped to our customers.
Fly ash shipment amount from Çayırhan Facilities (Cement Factories) (2024): 13,292 tons. Production of Çayırhan Sodium Sulphate Facilities, which came into operation in 2011, by years: 2011 – 8,080 Tons, 2012 – 75,246 Tons, 2013 – 113,572 Tons, 2014 – 130,140 Tons, 2015 – 133,850 Tons, 2016 – 136,860 Tons, 2017 – 192,285 Tons, 2018 – 235,640 Tons, 2019 – 249,110 Tons, 2020 – 268,330 Tons, 2021 – 272,850 Tons, 2022 – 259,155 Tons, 2023 – 231,460, 2024 – 237,700 Tonsdur.
Total = 2,544,278 Tons.
R&D efforts to get refined anhydride sodium sulfate from glauberite mine by means of solution mining have been in progress in 2024.
The capacity utilization ratio at the Çayırhan Sulfate Facilities with the world's most modern technologies in this field has reached 85%.
The production of refined sodium sulfate, potassium sulfate, refined salt (sodium chloride) and dried salt takes place at the Dazkırı Koralkim Facilities. 100% of the raw materials of these products are produced from our lake operation fields. Only 50% of crystalline sodium sulfate is used in the production of potassium sulfate.
Acigol water is used in raw material production. First, lake water is taken to production pools and kept in the pools. Sizes of our production pools: 13.18 km2 for crystal (Sodium Sulfate) manufacturing and, 5.53 km2 for salt (Sodium Chloride and Mixed Magnesium Salt)
During the winter months, sodium sulphate dissolved in the solutions in the pools crystallizes and settles to the bottom of the pool as glauber's salt. This glauberite salt is used as the raw material for the production of sodium sulfate. It is melted, filtered and re-crystalized, and becomes refined refine anhydrite sodium sulfate by means of graded evaporation at the facilities.
And the salty solution remaining on the top of the glauber salt in the production pool is transferred to the salt pools through the respective channels and pumps. The solutions transferred to the salt pools evaporate under the influence of air temperature in the summer months and gain bome and raw salt is obtained.
After obtaining the raw salt, the remaining upper solution, which is as free from sodium sulfate and sodium chloride as possible, is taken to another pool and increased to the required concentration, and kainite salt is obtained. Kainit is a raw material with a high possibility of being used for the production of potassium chloride and potassium sulfate.
Refined sodium sulfate, potassium sulfate, refined salt (sodium chloride) and dried salt are produced in our facilities, and raw salt and washed salt are produced in our open field facilities. At the Dazkırı Koralkim Facilities, the capacity of manufacturing sodium sulfate is 180,000 tons/years, the capacity of manufacturing potassium sulfate is 50,000 tons/year, the capacity of manufacturing dried salt is 30,000 tons/year and, the capacity of manufacturing refined salt is 30,000 tons/year.
In our facilities, we produce 99.5% pure anhydrous-refined sodium sulphate, 99.9% pure refined salt and potassium sulphate containing minimum 52% K2O without compromising on quality.
It is the only company that produces potassium sulfate fertilizer in Türkiye. In the production of potassium sulfate, potassium chloride and crystalline sodium sulfate are used together as raw materials. Alkim's advantage is that Crystal sodium sulphate is produced in its own facilities in Alkim's licensed areas. It is also a very important advantage that potassium sulphate is not produced in Türkiye and the nearby geography.
An extremely advanced technology has been preferred for the production of potassium sulfate. Alkim's potassium sulphate production is completely suitable for drip irrigation technologies in agriculture, with its high potassium oxide ratio, almost zero chlorine content and 100% solubility in water. This product, which has an organic agriculture certificate, is used as a very valuable natural fertilizer in the market.
The importance of potassium sulfate completely manufactured from natural resources will increase incrementally in the agricultural sector of our country.
Potassium Fertilizer Facility, our Production License Certificate No. 872 was received by the Republic of Turkey Ministry of Agriculture and Forestry on December 6, 2021.
With our potassium sulphate production, the needs of the domestic market are met and exported abroad. In this way, potassium sulfate that has been met by import up until today will be manufactured in our country for the first time, resulting in a great contribution to our country's economy. Our exports continue intensively.
The facilities have a steam power plant and a cogeneration system to generate its own steam and electric power. The facility produces steam and electrical energy itself. It has also all types of technical, administrative and social infrastructure facilities, various axillary units and all the supporting system that need to be within in a chemical facility of this size.
As is known, both raw sodium sulfate and raw salt are obtained at Acıgöl. In other words, salt and its derivatives are produced.
At both Cihanbeyli Tersakan Lake and, Acıgöl, there are low-density potassium and magnesium derivatives at the top solution that is left after the sodium sulfate and then raw salt has been obtained. R&D studies are carried out in order to utilize these effectively and bring them into the country's economy.
Accordingly, after obtaining the raw salt, the concentration of the upper solution, which was as free as possible from the remaining sodium sulfate and sodium chloride, was increased and the trial production of kainite, which can be used in the production of potassium sulfate from this solution, was carried out. R&D efforts are in progress.
Project studies are being carried out to produce KCl, the raw material of potassium sulfate, from kainite.
Crystal Sodium Sulphate, Refined Sodium Sulphate, Raw Salt (Sodium Chloride), Refined Salt (Sodium Chloride), Leonite (Potassium Sulphate Containing Magnesium Salt) Fertilizer, Magnesium Chloride Solution are produced in our Cihanbeyli Bolluk and Tersakan Plants. The dimensions of the production ponds of our Bolluk Lake and Tersakan Lake Operations in the Cihanbeyli district are: 5.15 km2 for crystal (Sodium Sulfate) manufacturing and, 3.72 km2 for salt (Sodium Chloride and Mixed Magnesium Salt) The capacity of melting, evaporation, drying and packaging as process at the Cihanbeyli Manufacturing Facilities is 80,000 tons/year. However, the production takes place depending on the quantity of the raw material (natural sodium sulfate crystal derived through natural ways from the pools) obtained.
Our Cihanbeyli Business' Refined Sodium Sulphate production capacity is 80,000 tons/year, Raw Salt production capacity is 25,000 tons/year, Leonite production capacity is 5,000 tons/year and Magnesium Chloride Solution production capacity is 15,000 tons/year.
The lake water from Bolluk Lake and Tersakan Lake is first transferred to the evaporation pools and, then to the production pools for cooling during the summer months. The sodium sulfate inside the solution is crystalized due to the cold weather during the winter months and, subsided to the pool bottom. This glauberite salt is used as the raw material for the production of sodium sulfate. It is melted, filtered and re-crystalized, and becomes refined refine anhydrite sodium sulfate by means of graded evaporation at the facilities.
The salt solution left at the surface of the glauberite salt in the production pool is transferred to the salt pools by means of channels and pumps. When the temperature gets risen in the summer months, it reaches certain concentrations resulting in raw salt in the salt pools.
At the Tersakan Lake, Konya, the solution left at the surface of the raw salt is transferred to the magnesium
pools for the production of magnesium derivatives and, then the raw material obtained from the mixed magnesium pool is shipped to the factory for the production of leonite fertilizer.
And the magnesium chloride solution is evaporated as a raw material or partially, processed accordingly and, sent to the locations where it is to be used.
In addition, in order to utilize this pure Magnesium Chloride resource more efficiently, we can start producing Mg.oxide, which is a very high added value product.
Mg.oxide (MgO) is a versatile compound used in a variety of industrial and medical applications.
At the Konya Cihanbeyli Bolluk Facilities, the crystal (glauber salt) obtained from the open site operations located in Tersakan and Bolluk Lakes is processed through the progressive evaporation process and anhydride - refined sodium sulfate product is obtained. These facilities have a power plant generating its own steam and electric power and also employ all technical, administrative and social infrastructure facilities as well as various auxiliary units and all supporting systems, which should be employed in a chemical facility of that size. Alkim Alkali Kimya's entire facility is operating under computer control. The high pressured steam generated at the power plant of our facility is initially passed from an opposite pressured turbine and both the steam requirement necessary for the process is met, and also the power necessary to partially meet the power requirement of the entire facility is generated. Sodium sulfate of high quality produced is shipped to the market in bulk or in Big Bags of 1 – 1.5 tons and other normal bags.
Leonite fertilizer (magnesium-potassium sulfate) is manufactured with the help of a special process applied by Alkim by means of making use of excess of the steam energy from the Bolluk Facilities.
Magnesium chloride solution used by the general directorate of highways and municipalities to prevent icing on roads is manufactured with the necessary concentration and content at the magnesium chloride evaporators integrated within the Bolluk Facilities and, transferred to the consumption points by tankers.
The increase in quality and production efficiency in magnesium chloride solution production over the years has led to an increase in demand. Another known fact is that it is nature-friendly. It is possible to produce Magnesium Chloride solution for 12 months if desired, apart from stocking in production, and there is no raw material problem regarding production.
Magnesium sulfate and crystal magnesium chloride as well as magnesium oxide have been manufactured in the Bolluk Facilities as a pilot plant. Organic Domestic Goods Production Certificate and TSE-EN 14016-1 product conformity certificate are available for magnesium chloride solution.
Lithium (950 ppm) reached its highest concentration in this last pool. R&D studies continued for the Lithium element, which was detected in the analyzes made from the bottom mud of Tersakan Lake in previous periods.
Raw salt, Leonite and Magnesium derivatives production continued in our Cihanbeyli facilities in 2024.
Our sodium sulfate business are located, Çayırhan, Ankara; Dazkırı, Afyonkarahisar and, Cihanbeyli, Konya. Sodium sulfate is manufactured at the business located in Çayırhan, Ankara, sodium sulfate and salt at the business located in Dazkırı, Afyonkarahisar, sodium sulfate as well as salt, magnesium chloride, magnesium sulfate and leonite fertilizer at the business located in Cihanbeyli, Konya.
Sodium sulfate, sodium chloride and magnesium components considered to be the main business operations of Alkim are manufactured in lake and underground mines licensed for a long period.
Total area of the manufacturing and preliminary evaporation ponds and storage & transfer ponds and channels in the lake plants of the Company (saltpans) is about 28 km2. In our mining facilities, we have all types of heavy construction machines, 16 jumbo drillers, road headers, excavation machines, loader, dozer, heavy tractors, normal and swamp type excavators, trucks, light trucks and pick-ups, freight train, etc. general and special service type vehicles and machines belonging to our company.
All precious equipment, tools, devices, facilities, storages, bunkers, various service workshops, administrative buildings, lodging buildings etc. are completely owned by the Company.
The world's sodium sulfate production is 24 million tons per year. Asia represents 61% of this production with the capacity of 13.7 million tons per year. Chine is the world leader in respect of the production of sodium sulfate, and it is followed by Spain with a capacity of 1.8 million tons per year. Turkey is the second largest manufacturer in Europe after Spain and, the largest manufacturer in the Middle East.
Sodium sulfate (Na2SO4) represents the main production of Alkim. Sodium sulfate is one of the raw materials used to manufacture natıral potassium sulfate and at the sectors of detergent, paper, glass, textile, chemical and animal feed . It is used during the process to obtain pulp at the paper industry; as a main filling agent and auxiliary product for bleaching at the detergent industry; as homogenizer and air bubble preventer at the glass production industry. Besides, it is a basic raw material for the animal feed industry and for the production of various chemicals. And for the textile industry, which is an important area of usage, it is used to ensure that dark colored dyes are homogenous and permanently attached to the fabric at the dyeing plants.
The operations that started when H. Vedat Kora, the founder of the company, obtained licenses for Acıgöl, Afyon in 1952, have continued at Bolluk Lake in Cihanbeyli, Konya in 1956 and, at Tersakan Lake in Cihanbeyli, Konya in 1960 These licenses obtained for the business operations are one of the first mining licenses obtained in the republic period.
As a result of the acquisition of the site found by MTA in the district of Çayırhan, Ankara in 1992 as a result of a tender, sodium sulfate started to be obtained from the underground reserves of glauberite.
Production is realized through the collection of the raw-material (glaubersalt) formed by transferring the waters (solutions) of the Tersakan and Bolluk in Konya-Cihanbeyli and of the Acıgöl in Afyonkarahisar-Dazkırı Lake establishments, containing alkaline salts into the large production ponds (Saltpan Method) and subjecting to evaporation here, thus increasing the concentration and in cold weather conditions by special methods and transportation to our Sodium Sulfate Facilities in order to be processed. At the Sodium Sulfate Facility in Çayırhan, sodium sulfate solvent are obtained by means of melting the glauberite cores that are partly brought to surface through underground solvent mining at the mechanical melting facility and, the processing thereof is realized at the crystallization and evaporation units.
The total manufacturing capacity of sodium sulfate at all the facilities when measured by the machine - equipment capacities is 470,000 tons/year. However, the Business Units in Cihanbeyli and Dazkırı works with the crystal sulfate raw material naturally derived from the bitter lakes therein, the actual production amounts are in proportion to the raw material amounts derived during the current season. Since the raw material is derived at the discretion of our company from the definite reserve underground at the business unit in Çayırhan, which is the largest one within the organization of our company, these facilities located therein operate at full design capacities.
In the Acıgöl facilities, the total area of sodium sulfate manufacturing ponds is 5,400,000 m2 while the pre-evaporation bonds are located in an area of 7,780,000 m2. The total area of salt manufacturing ponds is 4,208,000 m2 while the salt pre-evaporation bonds are located in an area of about 1,324,000 m2. Normal lake operation activities are continued on an area of 18,712,000,m2 (18.7 km2) in total. The operations in the Lake Tersakan and the Lake Bolluk facilities are carried out in twelve manufacturing ponds located in a total area of 8,875,000,m2.
The method of underground solution mining is applied for the production in the Sodium Sulfate Mining Site, Çayırhan.
Sodium chloride (salt) is manufactured in natural lake environment at our Acıgöl Facility located in Afyonkarahisar – Dazkırı, Tersakan Lake Facility and Bolluk Lake Facility located in Konya – Cihanbeyli.
Raw salt is used in the textile and chemical industries, dried salt is in the pickled products and animal feed additives and, refined salt is used as industrial salt and food salt.
There is a production capacity of about 25,000 tons of raw salt in total per year on the salt production site at the Lake Business Units in Cihanbeyli, Konya (3.72 km2) depending on the amount of the top solution of the crystal sulfate derived in the previous season.
Since there are major similarities between the production process of sodium sulfate and the production process of refined table salt at this factory, it is possible to process the raw salt manufactured at the Lake Tersakan in order to get refined table salt at the same facility.
The size of the pre-evaporation ponds used for raw materials in the Acıgöl facilities located in Dazkırı, Afyonkarahisar is 1.32,km2 while the size of the total manufacturing ponds is 4.20 km2 and, the size of the ponds in total is now about 5.53 km2. Our production capacity of raw salt per year herein is about 200,000 tons depending on the amount of the top solution of the crystal sulfate derived in the previous season. At the Salt Manufacturing Facility, which has been integrated into the main production process of our Dazkırı Sodium Sulfate Facilities, daily 115 tons and annually 35,000 tons of refined salt as well as daily 90 tons and annually 30,000 tons of dried salt can be manufactured.
Alkim has a food certificate for the salt manufacturing.
Alkim has completed the salt investments and the construction of the planes salt production pools, which it had started in 2002 when the Monopoly Law was amended, in 2004 at the business in Cihanbeyli, Konya and, then in 2005 – 2006 at the business in Acıgöl, Afyon. Raw material is released to the market partially on as is basis and partially processed in the various forms of finished salts such as washed salt, dried salt, refined salt. The salt manufactured in these methods conform the requirements of the TSE and the Turkish Food Codex in respect of quality.
Liquid magnesium chloride (MgCl2) is manufactured in the lake facilities, in addition to normal sulfate and raw salt operations performed therein. This product is used especially for the manufacturing of fire-resistant sheets. Magnesium chloride solution that has been for many years in developed countries for anti-icing on roads has started to be used in our country for the last a few years; the demanded quantities increase year by year.
Alkin manufactures Leonite (Potassium Sulfate Fertilizer Containing Magnesium), which has not been manufactured in Turkey up until today and, which plays an important role for the growth of chloride-sensitive plants such as citrus fruits, tobacco, cotton, corn, banana and tea, and possesses a certificate for "Suitable for Organic Agriculture". The manufacturing capacity of leonite is 5,000 tons/ year.
Potassium sulfate is a very valuable potassium source for the soil. The root and structural health of plants and their durability against diseases or harsh seasonal conditions are directly depending on the amount of potassium they could reach. Potassium has a strong impact to get vivid and physically voluminous vegetables and fruits with beautiful colors and also better taste. As a matter of fact, "chlorine-free potassium sulfate" should be used for the protection of certain vegetables and fruits. Potassium also supports the productivity of the soil. With the natural potassium sulfate we started to manufacture by means of using natural raw materials, we have brought this valued nutrition for the soil which is the need of our country to the farmers.
Potassium sulfate completely soluble in water is the right choice for the drip irrigation systems.
Potassium sulfate from Alkim is natural, has a very high rate of K2O and purity, has almost zero chloride, contains no heavy metal, no acid, is pH neutral, soluble 100% in water, EKOTAR certified and suitable for organic agriculture.
Sodium sulfate is a very important raw material used in particular in the powder detergent and glass industries as well as the paper, textile dyeing and animal feed industries. It is an essential content for the manufacturing of powder detergents and, found in the formulations of laundry detergents as a filling material. In addition, it ensures that all the raw materials of the powder detergent are in the package in a certain balance. And it acts like a catalyst when the detergent contacts the water. For the paper industry, sodium sulfate is the most important raw material used for the production of pulp, which is the raw material of paper and, for cooking the fibers. It has also a critical function in the production of frits for the glass industry. Use of sodium sulfate in the textile industry ensures that the dye passes through the fabric in a homogenous manner.
The permanent customers of Alkim Alkali Kimya A.Ş. are: All of the detergent producers in our country. (Türk Henkel, Procter & Gamble, Hayat Kimya, ABC, etc.) In the export market on the other hand, the glass and detergent factories in Ukraine, Romania, Bulgaria, Greece, Lebanon, West and South Africa, Ivory Coast, Angola, some countries in Central Africa, Morocco, Algeria and Egypt are the directly permanent customers. About 23% of the production has been exported depending on the domestic consumption in 2024.
It is the basic and primary policy of Alkim to meet the requirements and demands for sodium sulfate in Turkey. Since this matter is always in the first priority in the sales planning, our amount of export and the share of export in our sales can vary according to the domestic demand in the related period.
We are in the leading position in the large production market (high quality and natural sulfate) in
Turkey and nearby geography .
The powder detergent industry is the largest area of use for sodium sulfate. Consumption of detergent varies depending on the population and use of washing machines in the countries.
A considerable amount of powder detergent formulations manufactured in our country is composed of natural sodium sulfate from Alkim. The Middle East is an important market considering the fast population increase and increasing number of washing machines used therein.
According to surveys carried out by detergent manufacturers, the annual consumption of detergent per person is estimated to be 7 kg and, an about 25 kg of detergent be consumed in each house in our country that is expected to have a population of 100 million people by 2050. All the detergent manufacturers in our country are the permanent customers of Alkim.
As the use of sodium sulfate in detergent increases in our country and in the middle east in parallel with quickly increasing population therein, it is notable that sodium chloride started to be used as filler in some certain brands for the last two years. In the laboratories of our company, detailed analyzes of all powder detergent brands on the market are carried out, and the rate of sodium sulfate and sodium chloride changes in their formulations is monitored in what direction and at what speed.
In addition to sodium sulfate, we also manufacture considerable amount of raw salts, washed salt, dried salt (industry type salt) and refined common salt. Salt (NaCl) is a very important product in the textile, chemical, health and animal feed industries and also used as defroster.
This product of perfect quality manufactured at our potassium sulfate facility commissioned as of November 2022 is in progress. Potassium sulfate is a very valuable fertilizer for the soil. In addition to being extremely suitable for organic agriculture with its high potassium oxide content and almost zero chlorine, potassium sulfate manufactured by Alkim is completely suitable for drip irrigation technologies in agriculture with its 100% water solubility feature. Our potassium sulphate, which has a much higher added value than sodium sulphate, has attracted great interest in both domestic and international markets from the very first moment it was produced, and the demand from the market is increasingly continuing.
We continue to produce Magnesium chloride (MgCl2), which is used in the production of anti-icing and fire/burn-resistant wall panels on highways.
On the sodium sulphate side, Alkim continues its shipments both in packaged form and in bulk with silobuses. We also ship our products on "continuous – 7/24 and on demand basis" request through the warehouse – Sulfate Transfer Line in Muallimköy- Gebze. Considerable amount of the sales is affected under annual contracts.
Our potassium sulphate sales are prepared in 25 kg sacks or big bags and delivered to our customers.
Alkim performs all its domestic and foreign sales by itself and there is no separate sales-marketing company.
The prices of sodium sulfate, potassium sulfate and leonite are determined as per the leonite global market conditions, while the prices of salt are determined as per the domestic free market conditions.
| ALL FACILITIES | 2023 Tons | 2024 Tons |
|---|---|---|
| Standard+Granular Type Sodium Sulfate |
354,959 | 279,706 |
| Potassium Sulfate | 9,453 | 20,851 |
| Powdered Sulfate | 551 | 403 |
| Raw Salt | 167,028 | 202,198 |
| Washed Raw Salt | 151,870 | 144,395 |
| Dried Raw Salt | 28,490 | 22,412 |
| Anhydride Sodium Chloride | 5,215 | 11,066 |
| Raw Potassium Salt | 56 | - |
| Magnesium Chloride Solution | - | 48 |
| ALL FACILITIES | 2023 Tons | 2024 Tons |
|---|---|---|
| Standard+Granular Type Sodium Sulfate | 349,459 | 279,632 |
| Total Sales of Sodium Sulfate | ||
| Commercial Refined Salt | 363 | 29 |
| Commercial Raw Salt | 513 | - |
| Trade Goods Sales | ||
| Potassium Sulfate | 8,156 | 20,618 |
| Powdered Sulfate | 457 | 415 |
| Raw Salt | 5,775 | 4,225 |
| Washed Raw Salt | 119,227 | 119,071 |
| Dried Raw Salt | 29,032 | 22,572 |
| Refined Salt | 625 | - |
| Anhydride Sodium Chloride | 5,144 | 10,582 |
| Magnesium Chloride Solution | 1,692 | 966 |
| Leonite (K2SO4 containing Mg. Salt) | 469 | - |
| Raw Potassium Salt | 52 | - |
In 2024 72,424 tons of sodium sulfate and 7,144 tons of potassium sulfate have been exported abroad. Our exports amounted to USD 8.7 Million and EUR 2.6 Million.
Our export sales are made by means of cash against documents, cash against goods, confirmed
letter of credit or cash in advance before the loading according to the condition of the respective country and customers.
The investment expenses made in all the businesses of Alkim Kimya in 2024 are TL 84,040,055 in total.
The internal control mechanism of our company is being conducted by committee responsible for the auditing and comprising of the members eligible to be independent members amongst the members of the existing board of directors. The said committee has charged the auditing group in the matter of supervision of the setting up of the internal auditing mechanism and control of its effectiveness. The auditing group audits the internal control mechanism in determined periods as per the annual auditing plans that it has obtained the approval for and notifies the upper management of its opinions on the matters that it observes. The audit committee, in turn, investigates the said matters and makes suggestions for the board of directors. The committee in charge for the audit considers such opinions and provides information with respect to the required precautions to the general manager.
Subsidiaries are the enterprises where Alkim Alkali Kimya A.Ş. holds 50% or more than 50% of the shares, has the voting right for or represents or has the right to appoint the majority of the management, within the framework of the capital and management relationships, whether directly or through its other subsidiaries. The names of the subsidiaries included into the consolidated financial statements and, the shares of the parent company and of other subsidiaries in their capitals are as follows:
| Subsidiaries held by the parent |
Shares directly held by the parent (%) |
Shares indirectly held by the parent (%) |
Shares not held by the parent (%) |
|---|---|---|---|
| Alkim Kağıt | 79.93 | - | 20.07 |
| Alkim Sigorta | 50.00 | 39.96 | 10.04 |
| Activities | Country | Subject of Activities |
|---|---|---|
| Alkim Kağıt Sanayi ve Ticaret A.Ş. | Türkiye | Manufacturing and sales of paper products |
| Alkim Sigorta Aracılık Ltd Şti. | Türkiye | Insurance intermediary services |
Alkim Kağıt Sanayi ve Ticaret Anonim Şirketi was established in 1997 at the Organized Industrial Zone, Kemalpaşa, İzmir as a business unit of Alkim Alkali Kimya A.Ş. On June 30, 1999, after a demerger by means of capital in kind completely owned by Alkim Alkali Kimya A.Ş. it started to operate under the name Alkim Kağıt Sanayi ve Ticaret A.Ş. and, then was offered to public in November 2000 by means of a capital increase.
79.33% of the shares in the capital of Alkim Kağıt is held by Alkim Kimya and, the free float rate is 20.07%. Alkim Kağıt is listed at the Istanbul Stock Exchange under the code ALKA.
It is considered one of the important manufacturers in Turkey in the field of printing house, writingprinting and office paper. The manufacturing facilities are capable of manufacturing equipment pool featured products (such as light-weight coated paper, coated paper, ivory, glass paper, wet strength label paper, soap paper, special paper for religious books). Akredite Laboratory is the quality control laboratory.
The amount of paper produced varies depending on the type and weight of the paper, but the annual production is about 75,000 tons to 90,000 tons. One may consider that it has been operating at full capacity during the recent years.
83,586 tons of paper has been manufactured in 2024, and all the products manufactured have been sold to domestic and foreign markets.
Furthermore, Alkim Kimya, has authorized its Board of Directors for sale of a part of or whole of its shares in its affiliation Alkim Kağıt Sanayi Ticaret A.Ş. that is traded in Istanbul Stock Exchange (BİST) as per the resolution passed by the Ordinary General Meeting held on 24.04.2024, however, to date the sale of the said shares did not materialize.
Alkim Sigorta Aracılık Hiz. Ltd. Şti. examines all the technical details and assesses with great care with respect to the insurance coverage for all the factory buildings, machinery and equipment, manufacturing and storage locations, management buildings, facilities, fixed or mobile construction equipment, fixtures, inventories of raw materials and semi-finished products, transportation vehicles within the entire Group as well as the foreign and domestic transportations and shipments and, other activities and procedures relating thereto and, makes great efforts to minimize all risks in connection therewith.
Alkim Sigorta has been established to provide accurate and sufficient insurance coverage for all the economic assets of the group with a great potential and, is currently operating in good stand.
The Company did not realize any acquisitions for its own shares during the activity period of 2024 and in the previous periods and there is no acquisition.
During the activity period of 2024, the sworn public accountant audits have been conducted within the frame of independent external audit and finance terms of the CMB.
There is no legal action against the Company that may affect the financial position and operations of the parent company.
Legal proceedings and judicial process are in progress for the receivables of Alkim Kağıt Sanayi ve Ticaret AŞ' an affiliate of the Company, from a main dealer. All respective developments are transparently and publicly shared by the Company with the investors through the Public Disclosure Platform. Provisions were set aside in 2015 and 2015 for this receivable.
There is no action within the Company contrary to the pertinent legislation. The management board and the members thereof strictly comply with the pertinent provisions of the applicable legislations and there have been no administrative and judicial sanctions on the management boards and the members thereof.
The targets set in the previous periods have been achieved and the resolutions adopted in the general meetings (dividend distributions, managerial policies) have been enforced in specified periods.
The Ordinary General Meeting of Alkim Alkali Kimya A.Ş' for 2023 has been held on the date of 25.04.2024 at 14:00 hours at The Marmara Taksim İstanbul. The invitation for the meeting has been announced at least 21 days prior as provided by the law and the main articles of association and as to contain the agenda and the modification text, in the Turkish Trade Registry Gazette's issue dated 01 April 2024 and number 11055; in a national newspaper dated 29 March 2024 and in the corporate Internet address of http://www.alkim.com; furthermore by notifying the meeting date, venue, agenda and modification text by registered mail to the shareholders that are registered in the share book.
The Ordinary General Meeting has been realized with the participation of the shareholders representing the 74,772,350.87 TL portion of the 150,000,000 TL shares and within the electronic general assembly applications and the results of the General Assembly Meeting has been disclosed to the public at the address of http://www.kap.gov.tr on the date of 25.04.2024.
The General Assembly Meeting was held on 10.09.2024 at 14.00 at The Marmara Taksim Istanbul. The invitation for the meeting has been announced at least 21 days prior as provided by the law and the main articles of association and as to contain the agenda and the modification text, in the Turkish Trade Registry Gazette's issue dated 14 August 2024 and number 11143; in a national newspaper dated 12 August 2024 and in the corporate Internet address of http://www.alkim.com; furthermore by notifying the meeting date, venue, agenda and modification text by registered mail to the shareholders that are registered in the share book.
The Ordinary General Meeting has been realized with the participation of the shareholders representing the 80,397,556.80 TL portion of the 150,000,000 TL shares and within the electronic general assembly applications and the results of the General Assembly Meeting has been disclosed to the public at the address of http://www.kap.gov.tr on the date of 10.09.2024.
In the activity period of 2024, the donation and grant of TL 250,000 have been made.
In the 2024 activity period of our company; the sales and production targets planned in line with the requirements of our customers have been fulfilled and in the consolidated financial statements, the loss before tax is TL 50,783,931 and, the net loss of the period is TL 164,608,446.
All the ratio calculations for the financial structure of the Company are detailed in the section 6.6 hereof.
As of the activity period of 2024, the consolidated turnover is TL 4,688,321,828 and, the gross profit from commercial activities is TL 664,539,277.
As of today, the capital is not unreturned and, the consolidated equity is TL 3,796,451,522 (the portion thereof representing the main partnership is TL 3,563,062,026). The financial debts/ equity ratio is 3.39%.
Due to the strong financial structure of the company, there is no need for additional improvement. The liquidity ratio is 1.20%. The registered capital of the parent company is TL 300,000,000.
The "Profit Distribution Policy" of our Company is determined according to the Law of Capital Market, relevant communiqués, Turkish Trade Law and corporate governance practices.
There is no privilege with respect to the dividends among the share types and, each shareholder is entitled to dividends in proportion to the shares held by him/her in the capital.
Considering the benefits of the shareholders and of the Company in accordance with the approvals of the board of directors and the general meeting of shareholders as well as the applicable legislations, the determination of the proportions of the payments of the dividends in cash is based on the financial structure, liquidity status and investment requirements of the Company and, it is principle to make distributions as much as possible. The Profit Distribution Policy can be found at our corporate internet site.
The capital adequacy of the company has been evaluated as per the Turkish Commercial Code No. 6102, article 376 and the respective regulations, which has resulted in the fact that the capital is not uncovered and it is sufficient. Some financial ratios and basic indications calculated based on the information contained in the financial statements independently audited are as follows:
| 2023 | 2024 | |
|---|---|---|
| LIQUIDITY RATIOS | ||
| Current Ratio | 2.64 | 2.52 |
| Liquidity Ratio | 1.49 | 1.20 |
| Cash Ratio | 0.95 | 0.54 |
| FINANCIAL STRUCTURE RATIOS | ||
| Total Liabilities / Equity | 0.29 | 0.28 |
| Total Financial Debts / Equity | 0.03 | 0.03 |
| Short Term Liabilities / Total Assets | 0.21 | 0.19 |
| Long Term Liabilities / Total Assets | 0.01 | 0.03 |
| Tangible Fixed Assets / Equity | 0.47 | 0.61 |
| PARENT PROFITABILITY RATIOS | ||
| Assets / Profitability Ratio | 0.08 | -0.03 |
| Equity / Profitability Ratio | 0.11 | -0.04 |
| Gross Profit Margin | 0.20 | 0.14 |
The management policy for the financial risks is set by the financial department under the control of the senior management in accordance with the policies and strategies approved by the board of directors. The Board of Directors prepares the principles and policies with a general coverage in order to manage, in principal, the exchange, interest and capital risks and, follow the financial and operational risks.
It holds regular meetings and reports to the Board of Directors for the purpose of the early detection of the risks that would jeopardize the existence of the company, its development and continuation in accordance with the regulations related to the corporate management of the Turkish Commercial Code and The Capital Market Board, the required precautions related to the determined risks and the implementation of the remedies and the management of the risk. In addition, it advises the opinions to the Board of Directors with the purpose of determining the risk limits, defining, assessing and managing the risks and, carries out the required investigations on the subject of compliance with the limits.
Since the production and sales - supply and demand balance in the sodium sulfate sector, which is the main field of activity of our company, is settled on a global basis, there are no rapid fluctuations in prices as in some other commodities.
It is anticipated that sodium sulphate, which will be released from the processes carried out to solve the recycling problem of batteries that may arise with the increasing use of electric vehicles, especially in Europe, will pose a threat to the market, even though it is synthetic compared to natural resources.
On the other hand, it is noteworthy that sodium chloride has started to be used as a filler substance in some brands in the last two years. In our company's laboratories, detailed analyses of all powder detergent brands on the market are carried out and changes in the sodium sulfate and sodium chloride ratios in their formulations are monitored.
In order to continue the development and growth of our company and to go beyond the production of sodium sulfate, which it is now specialized in, by using this main product as a raw material, it had made R&D conflicts for a long time and decided to produce potassium sulfate with the thought of what we can do with a much higher added value and which cannot be obtained in our country and in our nearby geography. Our SOP (Potassium Sulphate) Facility, which we completed on time with great success under pandemic conditions, was commissioned in November 2021.
Our product, which was obtained in excellent quality in this new facility, has begun to be put on the market. We work with leading distributors and fertilizer manufacturers for potassium fertilizers. Our potassium sulfate, which has a much higher added value than sodium sulfate, has attracted great attention in both domestic and international markets. Potassium sulfate is a very valuable fertilizer for the soil. In addition to being extremely suitable for organic agriculture with its high potassium oxide content and almost zero chlorine, it is completely suitable for drip irrigation technologies in agriculture with its 100% water solubility feature.
It is expected that our potassium sulfate production and sales will contribute significantly to our company's turnover and profitability.
All the ratios are detailed in the section 6.6 hereof. In addition, the section 4.3 hereof indicates the production and sales figures in comparison with the figures achieved in the previous year.
The main activity of our company is the production of the sodium sulfate, sodium chloride (salt), potassium sulfate and magnesium containing components in the lakes and underground mines for which we received long-term privilege licenses within the frame of the Mining Law.
Alkim is the largest manufacturer in Turkey for sodium sulfate, which is an indispensable raw material for many industries and, also one of the largest sodium sulfate manufacturers in the world. Alkim is the second largest manufacturer in Europe. In addition, it is a member of the European Chemical Industry Council (CEFIC) and of the Sodium Sulfate Producers Association (SSPA).
All companies organized in a well-established corporate structure require some certain functions and abilities from suppliers. Among the qualifications sought for is a Quality Management System in the facilities, where the production takes place. Therefore, our company that maintains a successful corporate structure is the world's first corporation to possess the "TS ISO EN 9001:2008 Quality Management System' that is the basis of the management systems in the sodium sulfate manufacturing sector. Our company started this journey of quality with TSE in 1996 and, documented it with the TS EN ISO 140012004 Environmental Management System in , 2011 proving the importance it attaches to the environment at national and international levels. Further, it also obtained the TS 18001:2008 (OHSAS) Occupational Health and Safety Management System Certification proving the value it gives to the concept of Occupational Health and Safety.
Alkim is being evaluated in the trustworthy suppliers category due to the fact that whole of the properties sought for the suppliers especially by our international customers are being applied in our company.
In addition to the ISO and EIE certificates the company activities have been approved by Sedex and Achilles. These certificates are requested by some international customers.
Alkim's products are fully derived from natural sources and thus not chemically classified and exempted from the applications of REACH (Registration, Evaluation, Authorization and Restriction of Chemicals).
69% of sodium sulfate produced in Europe is consumed by the detergent manufacturers. Further, 9% of sodium sulfate is consumed by the chemical industry, 8% by the glass industry, 4% by the textile industry and 3% by the paper industry. 7% of the total production is consumed by other industries.
The area where sodium sulfate is consumed the most is the production of powdered laundry detergent. The ratio of the consumption of detergents varies depending on the population of the respective country and the mechanization ratio therein. The detergent consumption has already reached a certain level in developed countries, while it is gradually improving in the Middle East and Africa, where Turkey takes the most strategic point in terms of location.
It is expected that the detergent industry will grow and, thus the consumption of sodium sulfate will increase and, it is foreseen that the consumption amount will significantly increase as the number of washing machines used in houses rises. This indicates that the Middle East and Africa are a large and significant market for the consumption of sodium sulfate.
Alkim has always pursued such a policy balancing the production capacity of sodium sulfate and the demand amount.
Our potassium sulfate facility commissioned as of the end of 2021 is a factory equipped with high technology and, it is superior in terms of productivity compared to the equivalents in the world. As a result of the embargo imposed in 2022 due to the Ukraine-Russia war, our facility could not operate for most of the year as raw material supply could not be ensured. With the alternative supplier relationships established in 2024, the Potassium Sulphate facility started to operate actively and took its place among the preferred products in domestic and international markets.
9.1. SIGNIFICANT ISSUES AFTER THE END OF THE FISCAL PERIOD None.
There is no commercial or financial relation with Alkim Kağıt Sanayi ve Ticaret A.Ş. There is a commercial relation with Alkim Sigorta Aracılık Hizmetleri Ltd. Şti. due to the insurance services; however, there is no financial relation therewith.
An amendment was made to the Articles of Association on 9 December 2024 for the 2024 operating period. With the amendments made in Article 6 and Article 7, the Paid-in Capital of the Company has been increased to TL 300,000,000 , as announced in the Turkish Trade Registry Gazette No. 11224.
INFORMATION ON CORPORATE GOVERNANCE PART I - CORPORATE GOVERNANCE PRINCIPLES
a) Alkim has established its understanding on management on the principles of equality, transparency, accountability and responsibility. Our Company attaches great importance to the compliance with the respective regulations of the Capital Markets Boards (CMB) in its corporate governance applications. The corporate governance applications implemented within the framework of the Capital Market Board's Legislation, has great importance for the sustaining of the Alkim Alkali Kimya A.Ş. activities in an efficient and transparent manner and to provide the highest added value for its shareholders. The corporate governance compliance reports issued using the templates of the Corporate Governance Report (UFR) and of the Corporate Governance Information Form (CGIF) available on the Public Disclosure Form (PDP) as per the resolution no. 2/49 adopted by the Capital Market Board on 10.01.2019 have been published on the PDP. The Corporate Governance Compliance report (URF) and the Corporate Management Information Form (CMIF) are made available through www.kap.gov.tr.
Under the scope of the Corporate Governance Communique Serial No. II-17.1 that entered into force in 2022, all the mandatory principles have been fully complied with, while most of the nonmandatory principles have been complied with. Although it is intended to be fully in compliance with the non-mandatory Corporate Governance Principles, this full compliance has not been achieved yet due to various reasons such as difficulties experienced in the application of some principles, ongoing discussions continued in our country at both the national and international platforms in respect of compliance with some certain principles and, since some certain principles do not match with the current structure of the Company. Studies are in progress on the principles not fully put into practice yet, which will be assessed to decide if they need to be put into practice as a result of the evaluation carried out administratively, legally and technically in a way as to contribute to the efficient management of our Company.
Remarks: Because of assurance concerning minority rights pursuant to the Turkish Commercial Code, the Capital Market Law and other applicable regulations, our Articles of Association has no provision intended to grant minority rights to those holding less than twentieth of the capital and, extended the scope of the minority rights thereunder.
5.4.3. Principle no. 2.1.4: The information contained on the corporate website of the company is also prepared in foreign languages selected according to the needs with the same content as the Turkish version.
Remarks: Although most of the Turkish content is translated into English, some documents are submitted in Turkish on the website. It is planned to pay attention to ensuring that the information on the corporate website is also shared in English thereon with the same content of the Turkish text thereof.
- Principle no. 3.2.1: The participation of the employees in the management is regulated under the articles of association or by means of internal directives.
Remarks: Through the open door policy applying in the company and the information meetings held with the participation of the employees, the employees are indirectly participating in the management, but this is not regulated under the articles of association and internal directives.
5.4.4. Principle no. 4.3.9: A target for the percentage of the female board members has been set as 25% at minimum and, a policy has been crated to attain this target.
Remarks: A percentage of 25% at minimum for the female board members has been considered. The percentage of the female board members in the company is 33.33%. However, there is no policy concerning the target of 25% at minimum for the female board members in the company.
- Principle no. 4.5.5: Each board member takes place in only one committee.
Remarks: Due to the reason that the number of members of the Board of Directors being limited, the members of the Board of Directors may take office in more than one committee. A member who takes place in more than one committee ensures communication between the respective committees and, enhances the opportunity for cooperation. It has been observed that it has not caused any setback, discrepancy and conflict of interest during the activities of the committees.
- Principle no. 4.6.1: The board of directors carries out self-criticism and performance assessment in respect of both the board members and those with administrative responsibilities.
Remarks: No performance assessment has taken place on the Board of Directors.
- Principle no. 4.6.5; Remunerations given to each board member and executive with administrative responsibilities have been explained on the annual report.
Remarks: The sum of the benefits made available to the Board of Directors and the senior executive is collectively reported in the financial report. The Remuneration Policy submitted to the General Assembly for information is made available on the corporate website. It is not planned to disclose the remunerations given to each executive with administrative responsibilities pursuant to the Personal Data Protection Law No. 6698.
There has been no information received that a conflict of interest has occurred among the
stakeholders as of today due to the principles attached to the Corporate Governance Communique but not complied with yet during the activity period ending as of December 31, 2024 and the Corporate Governance Committee has found that there has been no such conflict of interest. In addition, the compliance with the non-mandatory principles is being assessed for each principle separately and, it may be possible to make attempts to comply with some certain principles considering the requirements of our shareholders.
For the purpose of executing the relation between the company and the investors in accordance with the applicable legislation and facilitating the use of investor rights, the Investor Relations Unit has been established and plays an effective role in the protection and use of the shareholding rights, particularly the right to demand and review information.
Save for the information considered to be confidential and trade secrets not disclosed to the public about the company, the requests of the shareholders verbally and in writing for information about the company are fulfilled and, the records in connection with the answers thereto are regularly maintained by the Investor Relations Unit.
All information and disclosures that may affect the exercise by a shareholder of their rights are update and made available to the shareholders through the corporate internet site of the Company.
The information pertaining to the person taking part in the department is indicated hereinbelow:
Özgür Öge , Financial Affairs and Investor Relations Director, Tel: 212 292 22 66 E-mail: [email protected] Licenses: CMB Level 3 (916086), CMB Derivative Instruments License (919390), CMB Corporate Management Gradation Expertise License (919373)
Investor Relations Department continues its activities reporting to General Manager M.Selçuk Denizligil.
The Investor Relations Unit has carried out the operations for the purpose of ensuring communication between the company and the investors focusing on the duties as indicated in the Communique, Article 11, Paragraph 5.
The Investor Relations Unit plays an effective role in the protection and use of the shareholding rights, particularly the right to demand and review information, and fulfills the following duties: The main activities carried out under the responsibility of the Investor Relations Unit are summarized below; accordingly it will ensure that:
i. The section "Investor Relations" on the company's corporate web sites are properly managed.
j. Questions from inside and outside the company within the scope of investor relations are responded accordingly.
The Unit has periodically submitted to the Board of Directors its report containing the activities carried out within the period and the opinions and recommendations of the investors considered significant as well as the comments and assessments of the brokerage houses about the company. The report on the activities carried out in 2024 was submitted to the members of the Board of Directors on February 19, 2025.
Taking into consideration the provisions of, Communiqué on Material Events of CMB, Material Events Disclosures have been disclosed to public through Public Disclosure Platform (KAP-Kamuyu Aydınlatma Platformu). Ten special situation explanations have been made at Public Disclosure Platform (PDP) within the activity period of 2024. Our special situation explanations are being kept in an updated manner under the Investors tab of our corporate Internet site http://www.alkim.com.
The communications with the investors and the abstracts of the telephone calls made during the activity period are recorded and archived electronically. During the year of 2024, 140 phone calls have been realized with our investors.
The questions delivered to our company by the partners via e-mail have been answered in accordance with the provisions of the Capital Market Legislation, the CMB regulations and the articles of association. Our partners have requested seventy-nine written information by electronic mail during the year and the written feed-back to them had been made by electronic mail.
No distinction is made among the shareholders in the use of the right to demand and review information by the shareholders. Each shareholder has the right to demand and review information. There is no such arrangement in the articles of association that may restrict the right to information.
In exercising the shareholding rights, legislation, Articles of Association and other in-company regulations are complied with and measures to ensure that such rights are exercised are taken and all shareholders are treated equally. The primary objective of the Company is to allow for shareholders to exercise the right to information and give the information objectively and fully within the framework of the laws.
Every kind of subject related to the Public disclosure obligation is being presented in compliance with the legislation and the main articles of association and within this scope the special situation explanations of importance pertaining to the investors are disclosed to the public timely and in compliance with the legislation in the Public Disclosure Platform (PDP).
The verbal and written information demands of the investors and shareholders have been answered in accordance with the Capital Market Legislation, CMB regulation and the decisions within 2024, excluding the confidential information and trade secrets, the related information and documents have been delivered to the shareholders with the equality principle.
For the purpose of expanding the rights to information of shareholders and enabling them to exercise their rights healthily within the framework of the legislation in force, the Corporate Website http://www.alkim.com of the Company is used effectively. Within this scope, the Corporate Governance Principles and information and documents prescribed by regulatory authorities are presented to use of shareholders in Turkish and English languages on Corporate Website of the
Company.
An announcement for a General Meeting is made in such a manner to ensure that it is received by the shareholders as many as possible through the Public Disclosure Platform (KAP) and the Electronic General Meeting System (EGKS) as well as the corporate internet site of the Company and the Turkish Trade Registry Gazette at least three weeks beforehand.
In addition, an information document is prepared and disclosed to the public in relation with the agenda items before the respective general meeting. All announcements and notifications are in compliance with the Turkish Commercial Code (TCC), the Capital Market Board Legislation, the regulations and resolutions of the Capital Market Board and, the Articles of Association.
A notification clearly indicates the meeting date and time, the meeting location in such a manner that does not cause any hesitation, the agenda items, the respective authority of the state and, where the annual report and financial statements as well as other general meeting documents may be examined. Accordingly, the respective annual report, financial reports, other documents on which the agenda items are based, and the proposal for profit distribution are made available in such places where the shareholders may easily access including the registered office and electronical environment as from the date of the respective announcement.
Furthermore, a detailed explanation is made available for each agenda item in the "General Meetings" under the section "Investors" of the corporate internet site of the Company: http://www.alkim.com, and other information described under the principles about the general meetings is made available to the investors.
During the preparation of the agenda for a General Meeting, each proposal is indicated under a separate heading and, the headings of the agenda items are described in such a manner not to cause any different interpretation. The words "other", "miscellaneous" etc. are avoided in the agenda items.
It is important that a general meeting is held in such a manner that does not cause any inequality among the shareholders and that the shareholders may attend occurring cost as least as possible.
As per the article 25 of the Articles of Association of the Company; the holders of the right to participate in a General Meeting may participate in these meetings through the electronic medium in accordance with the article 1527 of the Turkish Commercial Code. In all the General Meetings to be held, as per this term of the Articles of Association, the holders of the right and their representatives are provided to use their rights through established system as per the requirement of the relevant legislation. Therefore, the required infrastructure for the investors desiring to participate into the General Meeting in the electronic medium and to vote through the Electronic General Meeting System (EKGS) has been prepared, the announcement with regards to this aspect has been made and participation into meeting in the electronic medium has been provided.
The Members of the Board of Directors relating to subjects of specific nature on the agenda, other related persons, officials being responsible in preparation of financial tables and auditors are present in the General Meeting in order to be able to make the necessary information and reply the questions asked.
In case a shareholder controlling the management, the members of the board of directors, the executives in charge of administration and, their spouses and relatives by blood and marriage has made a significant transaction that may cause a conflict of interest with the company or its affiliates and/ or they has made a commercial business within the scope of the activities of the company or its affiliates on their own behalf or on behalf of others or participated in another company operating in the same type of activities as the company in the capacity of a general partner, this will be included in a separate agenda item and recorded in the minutes of the respective general meeting by means of providing detailed information thereon to the shareholders.
Any transaction performed by the members of the Board of Directors under the scope of articles 395 and 396 of the Turkish Commercial Code is submitted to the general meeting for information.
Information on related party transactions, guarantees, liens and mortgages given to third parties is submitted to the respective General Meeting under a separate agenda item.
Minutes of the General Meetings may be found at: http://www.alkim.com, the Public Disclosure Platform (KAP) and the Turkish Trade Registry Gazette.
Any announcement and notification for a General Meeting will indicate:
The financial statements of the 2024 activity year, the annual report of the Board of Directors, the auditing reports and the Board of Directors profit distribution proposal together with the other information and documents to be disclosed as per the legislation, have been made ready for the shareholders perusal at the company headquarters at the address of İnönü Cad No13 Taksim Beyoğlu/Istanbul and, the corporate internet site.
It was ensured that the meetings had been held in an easily accessible central location within the city so that as many shareholders as possible could meet and cast vote in the General Meeting of our Company. The conditions required for the shareholders in order to participate in the General Meeting and the samples of the proxy to be utilized by the persons participating in the meeting by representing the shareholders have been notified by announcement.
The Ordinary General Meeting for 2023 within the previous activity period has been held on the date of 25.04.20234at 14:00 hours at The Marmara Taksim İstanbul. The invitation for the meeting has been announced at least 21 days prior as provided by the law and the main articles of association and as to contain the agenda and the modification text, in the Turkish Trade Registry Gazette's issue dated 01 April 2024 and number 11055; in a national newspaper dated 29 March 2024 and in the corporate Internet address of http://www.alkim.com; furthermore by notifying the meeting date, venue, agenda and modification text by registered mail to the shareholders that are registered in the share book.
The Ordinary General Meeting has been realized with the participation of the shareholders representing the 74,772,350.86 TL portion of the 150,000,000 TL shares and within the electronic general assembly applications and the results of the General Assembly Meeting has been disclosed to the public at the address of http://www.kap.gov.tr on the date of 25.04.2024. During the General Meeting the shareholders have utilized their rights to ask questions both orally and in the written form and the questions asked by the shareholders have been answered by the company's management and have been recorded in the minutes. In the matters not related to the agenda, the shareholders have been provided with possibility of explaining their opinions and asking questions under the equal conditions, after all the items in the agenda have been discussed. During the General Assembly Meeting, the chairperson of the meeting provided direct answers for all questions that were asked by the shareholders at the General Assembly Meeting and that were not considered as trade secret, as well not caused inequality of opportunity pursuant to the legislation because of being disclosed to public. No proposal was submitted by the shareholders concerning an agenda item during the General Meeting.
In addition, an Extraordinary General Assembly Meeting was held on 10.09.2024 at 14.00 at The Marmara Taksim Istanbul. The invitation for the meeting has been announced at least 21 days prior as provided by the law and the main articles of association and as to contain the agenda and the modification text, in the Turkish Trade Registry Gazette's issue dated 14 August 2024 and number 11143; in a national newspaper dated 12 August 2024 and in the corporate Internet address of http://www.alkim.com; furthermore by notifying the meeting date, venue, agenda and modification text by registered mail to the shareholders that are registered in the share book.
The Ordinary General Meeting has been realized with the participation of the shareholders representing the 80,397,556.80 TL portion of the 150,000,000 TL shares and within the electronic general assembly applications and the results of the General Assembly Meeting has been disclosed to the public at the address of http://www.kap.gov.tr on the date of 10.09.2024.
The Company's Grants and Donations Policy" has not changed within the period. Shareholders have been informed with a separate agenda item in the general assembly meeting of the amount and beneficiaries of all donations and aids made within the period and the policy changes in line with the policy approved by the General Assembly.
The shareholders are previously informed of the procedure how to vote in general meetings. The Company avoids any application that makes difficult to exercise the voting rights and, provides each shareholder with the opportunity to exercise their respective voting rights in the easiest and most appropriate manner whether in person or through electronic means.
There is no provision in the articles of association that prevents a shareholder from voting by means of a proxy not a shareholder.
Utmost care is taken in the Company for the exercise of minority rights. There has been complaint or criticism to the Company in this respect during 2024.
The distribution of dividends of our company; is realized within the framework of the Turkish Commercial Code and The Capital Markets Board Law and the terms of the company's main articles of association within the time periods determined by the General Meeting. Each shareholder is entitled to dividend in proportion to his/her shares. There is no privilege granted with respect to the profit distribution. The profit to be distributed is determined at the General Meeting considering the liquidity position of the Company and the investments to be made. "The "Dividend Distribution Policy" has been established and announced at the http://www.alkim.com corporate Internet address and the shareholders are informed in the General Assembly meeting. Dividend policy is provided in the annual report.
At the Ordinary General Assembly held on April 25, 2024, it was decided not to distribute dividends based on the operating results for 2024.
Our Company's dividend policy is determined in line with the Capital Market Board, the pertinent communiqués of the Capital Market Board, the pertinent provisions of the Turkish Commercial Code and of the articles of association, as well as the corporate governance principles.
There is no privilege with respect to the dividends among the share types and, each shareholder is entitled to dividends in proportion to the shares held by him/her in the capital.
Considering the benefits of the shareholders and of the Company in accordance with the approvals of the board of directors and the general meeting of shareholders as well as the applicable legislations, the determination of the proportions of the payments of the dividends in cash is based on the financial structure, liquidity status and investment requirements of the Company and, it is principle to make distributions as much as possible, provided that it shall not be less than the amount and percentage as identified by the Capital Market Board.
In every year, the Board of Directors takes decision on the profit distribution and presents this to the approval of the General Assembly and this profit distribution recommendation is announced to public in accordance with the law and legislation and published in http://www.alkim.com address. The proposal may be accepted or refused at the General Meeting.
In case the board of directors proposes not to distribute any dividend, it shall explain the reasons to the shareholders at the respective general meeting, which shall be included in the respective annual report and, published through the internet site.
The dividends to be distributed may be in the form of cash, bonus shares or the combination of these options in line with the respective resolution adopted at the respective General Meeting.
The date on which the dividends are to be distributed shall be determined at the respective general meeting in line with the pertinent provisions of the Capital Market Law and of the Turkish Commercial Code, provided that it shall be within the legal periods. The dividends may be paid in installments with the equal or different amounts in accordance with the pertinent communiqués of the Capital Market Board, provided that a resolution shall be adopted at the general meeting with respect thereto. This policy shall be submitted to the first general meeting for the approval of the shareholders. This policy shall be submitted to the first general meeting for the approval of the shareholders.
In case of any amendment to the dividend policy, the resolution of the board of directors pertaining thereto and, the reason thereof shall be disclosed to the public in accordance with the principles for the special disclosures to the public.
The distribution of dividend advances shall take place by means of granting respective authorities to the board of directors limited to the fiscal period pertaining to the resolution adopted at the respective general meeting, in accordance with the Capital Market Board, the pertinent communiqués of the Capital Market Board, the pertinent provisions of the Turkish Commercial Code and of the articles of association, as well as the corporate governance principles.
.
Article 20 of the Articles of Association contains the shares and sales as well as legal transfers of registered shares. Transfer of the registered shares is subject to the pertinent provisions of the Turkish Commercial Code and the Capital Market Law.
Corporate Web Site is actively used to maintain the relations with the shareholders in a more efficient and fast manner and, keep in touch with the shareholders in accordance with the Corporate Governance Principles issued by the Capital Market Board. The information placed on the site are continuously updated under the responsibility of the Investor Relations Section. Information contained in the Corporate Web Site is in consistence with the disclosures pursuant to the respective legislations and, there is no conflicting or missing information.
Required arrangements have been made to the web site in accordance with the pertinent requirements of the corporate governance principles and the information and required conditions as set forth in article 1.11.5, section II, the Corporate Governance Principles issued by the Capital Market Board have been fulfilled. In addition to the disclosures pursuant to the respective legislations, the Corporate Internet Site of the Company at http://www.alkim.com in Turkish and English includes:
The Annual Report of the Board of Directors is prepared with such details as to enable the public to access full and accurate information on the activities of the Company and in accordance with the "Regulations on the Determination of Minimum Content of Companies' Annual Reports" published in the Official Gazette no. 28395 of 28 August 2012, and the Communique Serial No. II-14.1 "Terms Related to Financial Reporting in Capital Market" published in the Official Gazette no. 28676 of 13.06.2013 and, the Capital Market Board's Corporate Governance Communique Serial No. II.17.1 published on the Official Gazette no. 28871 of 03.01.2014. The company's annual report is being prepared in compliance with the relevant legislation and the Principles that are mandatory to implement.
The annual report reflects the flow of the actions and transactions concerning the respective accountancy period of the company, the financial condition in all aspects in a correct, complete, truthful and honest manner considering the rights and benefits of the company.
The annual report does not contain any misleading, exaggerated and misguiding statements and misrepresentations by means of paying attention to details so that the shareholders could reach any type of information in a complete and accurate manner.
In case a member of the board of directors does not agree on information contained in the respective annual report, such issues contested by that member and the reasons thereof are indicated therein. No objection has been made in this regard during the activity period of the year 2024. The Corporate Governance Principles Compliance Form and the Corporate Governance Information Form are also reported in the respective annual report.
A stakeholder in relation with the Company is a third person in direct relation with the Company. The stakeholders are invited to a meeting or informed by telecommunication means whenever it is necessary. Considering the fact that a cooperation with the stakeholders is for the benefit of the Company in the long term, the Company respects and safeguards the rights of the stakeholders arising from the respective legislations, mutual contracts and agreements. The Company provides all stakeholders including the managers, employees and representatives with an opportunity to communicate to the management in respect of their concerns about possible illegal or unethical transactions. It is among the duties of the Audit Committee to examine such complaints submitted to the Company.
There is no special arrangement formed in the articles of association of the Company for the participation of the stakeholders in management. Further, there is no internal directives issued by the management in this respect. Our Company encourages the employees to attend the meetings that they need and that are approved by the Company so that they could receive professional and personal training.
Our Human Resources Policy is to bring the productivity of our personnel to the highest level through using the performance evaluation, training and similar human resources instruments in accordance with the target and strategies of our Company. A high motivated and successful team has been formed as a result of the combination of the knowledge of our company of more than fifty years, its skilled and experienced management with the personnel consider their future as important in such a company and working appropriate for work discipline, human relations and a respectful working atmosphere.
We have a Human Resources Department continuing its activities for this purpose and Mr. Ali Murat Özçelik is the Manager of our Human Resources Department.
Our Company encourages the employees to attend the meetings that they need and that are approved by the Company so that they could receive professional and personal training. It keeps such information and documents to that end and, follow up the contribution thereof to the performance of the respective business operations.
Alkim Alkali Kimya A.Ş. provides the employees with family and children allowances on a monthly basis and, such personnel satisfying the necessary conditions are also provided with fuel allowance once a year and, also holiday allowances during religious holidays and, social payments are made in Ramadan in the form of supplies.
Codes of Conduct applied by the Company and all employees must comply with have been determined within a period of efforts more than 50 years. These Codes of Conducts are in integration with the professional policies of Alkim, the applicable legislations, international practices and the general principles of honesty and integrity. Other than this general perspective, it is the responsibility of all the people in Alkim for protecting the country's benefits, being aware of the fact that we operate on the country's natural sources and acting accordingly, safeguarding the nature and environment and always putting the quality first and operating in teamwork. Codes of conduct are monitored by the superiors of the employees in a hierarchical structure. In case of any behavior contrary to these codes, the required actions are taken by the immediate superior, unit chief, line manager, assistant general manager and general manager respectively in accordance with the Company's regulations on human resources and personnel. Code of conducts is available at http://www.alkim.com.
By means of strategic resolutions, the board of directors maintains the balance of the risks, growth and returns of the Company at the best possible level, supervises the long term benefits of the Company by means of rationalist and prudent understanding of management and, manages and represents the Company according to these principles.
Turkish Commercial Code, Capital Market Legislation, Capital Market Board Communiqué and Decisions are fulfilled in the formation and election of the Board of Directors. Principles in this subject are also mentioned in the Articles of Association. The Company is managed and represented by a Board of Directors composed of nine members elected by the shareholders in a general meeting among the shareholders. There are two independent members in the Board of Directors of the Company.
The board of directors has defined the strategic targets of the Company, identified the labor and financial resources it may need and, audits the performance of the management of the Company. It observes the compliance of the Company's operations with the articles of association, the internal regulations and policies.
By means of strategic resolutions, the board of directors maintains the balance of the risks, growth and returns of the Company at the best possible level, supervises the long term benefits of the Company by means of rationalist and prudent understanding of management and, manages and represents the Company according to these principles.
The board of directors are identified in a way as to ensure that the members could work productively and creatively, take fast and rational decision, that the respective committees are formed and, could organize their respective operations in an efficient manner.
The number of the members of the Board of Directors has been determined as nine during the Ordinary General Meeting held on 25 April 2024 and the following names are elected as the Board Members. The members of the Board of Directors have been elected to serve for a duration of three years as per the article 9 of our main articles of association. The members of the Board of Directors were announced on the Trade Registry Gazette, issue no. 11084 on 17.05.2024. Current information about our Board of Directors members is included in the table below.
| Name & Surname and Profession |
Position | Duties Undertaken Outside of the Partnership |
Whether Executive/Indep endent Member of the Board of Directors |
Term of Office |
|---|---|---|---|---|
| M. Reha KORA Mechanical Engineer, |
Chairperson of the Board of |
Executive Member | 25.04.2024 | |
| MSc | Directors | - | - | |
| 25.04.2027 | ||||
| A. Haluk KORA | Vice | Vice-Chairperson | Non-Executive | |
| Mechanical Engineer, MSc |
Chairperson of the Board of |
of the Board of Directors in the |
Member | 25.04.2024 - |
| Directors | companies within the Group |
25.04.2027 | ||
| Arkın KORA | Vice | Member of the |
Non-Executive | 25.04.2024 |
| Physics | Chairperson of |
Board of Directors | Member | - |
| the Board of Directors |
in the companies within the Group |
25.04.2027 | ||
| Ferit KORA | Vice | Chairperson of the | Non-Executive | |
| Business Administration |
Chairperson of the Board of |
Board of Directors in the companies |
Member | 25.04.2024 - |
| Directors | within the Group | 25.04.2027 | ||
| Tülay KORA | Member of the |
|||
| Business | Member of the | Board of Directors | 25.04.2024 | |
| Administration | Board of |
in the companies | Non-Executive | - |
| Directors | within the Group | Member | 25.04.2027 | |
| Özay KORA Economist |
Member of the Board Directors |
of | Member of the Board of Directors in the companies within the Group |
Non-Executive Member |
25.04.2024 - 25.04.2027 |
|---|---|---|---|---|---|
| Aydın ORHAN Lawyer Azade BAŞAĞA |
Member of the Board Directors Member of the |
of | - Greenactive Ltd Şti Green Active PR |
Independent Member Independent |
25.04.2024 - 25.04.2027 25.04.2024 - |
| Consultant | Board Directors |
of | Co-Founder and President |
Member | 25.04.2027 |
| Özgür MUNGAN Finance |
Member of the Board Directors |
of | - | Independent Member |
25.04.2024 - 25.04.2027 |
Born in Gölcük in 1963, M. Selçuk Denizligil graduated from Ege University, Department of Chemistry in 1985. He completed his master's degree at Istanbul Technical University in 1988 and his doctorate in 1991. He received the title of Associate Professor at the same university in 1997. Between 1992 and 1994, he worked as a Researcher at the Hahn Meitner Institute Project for Exxon Europe Corp. Between 1996 and 1997, he conducted research at Johannes Gutenberg University in Mainz, Germany, with an Alexander von Humboldt Foundation Scholarship. He worked as a manager at Henkel in 1997, Cognis Germany in 2001, and Cognis Turkey between 2003-2010. Between 2010 and 2019, he worked as Factories Director and Business Development Director at BASF Türk. Denizligil, who worked as the General Manager of Polisan Kimya between 2019 and 2022, started working as the General Manager of Alkim Alkali Kimya company in February 2023 and still continues the same position.
The Board of Directors meets and adopts resolutions pursuant to the pertinent provisions of the Turkish Commercial Code and of the respective legislations. The meeting agenda of the Board of Directors are set forth by means of negotiations with the Chairperson, Members and General Manager. All information and documents about the agenda of the meeting of the Board of Directors are made available to the members of the Board of Directors by means of an equal information flow 10 calendar days before the meeting so that the members may ask for inclusion of an item to the agenda. An electronic mail is sent to the members of the Board of Directors containing an invitation letter, in which the meeting date, time, location and agenda items are indicated. The resolutions of the Board of Directors are based on the meeting and resolution quorums as set forth under the Turkish Commercial Code, the Capital Market Board and the respective regulations.
The meetings of the Board of Directors are held at the registered office, significant resolutions of the Board of Directors are disclosed by means of the Public Disclosure Platform (KAP) and, special disclosures are also published through the corporate internet site of the Company.
The chairperson of the Board of Directors and the General Manager of our company are different persons.
In the activity period of 2024, there has been no transaction performed by or on behalf of the members of the management boards with the Company in accordance with the permit granted at a general meeting and, no such activities subject to the non-competition rules have been performed by them or on their behalf.
There are nine members of the Board of Directors. Majority of the members of the Board of Directors are non-executive. There are three independent board members.
For the Corporate Management Committee that carries out the duties of the Nomination Committee within the framework of the relevant legislation, two independent nominees have been nominated and the report regarding whether the nominees possess the criteria to be independent or not has been presented to the Board of Directors on the date of 25.04.2024. During the activity year of 2024 no situation has arisen to eliminate the independency of the independent members. The declarations of the independent members on this matter are presented.
All the members of the Audit Committee have been elected among the members of the Board of Directors. The members of the committees have sufficient knowledge and experience in the field of accounting and financing.
There is one female board member of our Company in line with the Corporate Governance Principles. Our member is Azade Başağa.
During the activity period, no situation has arisen to eliminate the independency of the independent members.
The Board of Directors actively fulfils its duties. The chairman of the board of directors talks to other members and the general manager to identify the agenda items to be deliberated during the meetings of the board of directors. It submits such information and documents in connection with the agenda items to the board members before the meeting granting a sufficient period of time.
Each board member has one vote in the board of directors.
Eleven meetings of the Board of Directors have been held during 2024 and, the majority of the members attended each meeting. There has been no agenda item opposed and recorded in the minutes during the meetings of the Board of Directors in 2024. There has been no agenda items opposed by the independent members and, no issue occurred to disclose to the public. The members of the Board of Directors are not entitled to weighted vote or veto right.
In order to fulfill the duties and the responsibilities of the Board of Directors in a healthy manner, the Committee Responsible for the Auditing, the Committee for Corporate Management, and the Committee for Early Detection of the Risk have been formed within body of the Board of Directors. The areas of duty of the committees, the working principles thereof and which members are to attend thereto have been identified by the Board of Directors, and disclosed to public on the corporate website and the Public Disclosure Platform. The chairpersons and members of all of the three committees have been elected based on the board resolution of April 25, 2024.
Since the partnership structure of our Company and the number of Board Members are limited, some of the Board Members undertake duty in more than one committees.
The frequency of the meetings of the committees is sufficient and, all the efforts are put down on paper and, recorded. The information about their operations and, the reports on the results of the meetings are submitted to the Board of Directors.
The chairpersons of the committees are appointed among the independent members of the board of directors. The Corporate Governance Committee consists of five members, the Early Detection of Risk Committee consists of three members and, the Audit Committee consists of two members. All the members of the Audit Committee are independent board members.
The chairperson of the Board of Directors and the General Manager do not take place in the committees.
The Board of Directors' committees have not received any consultancy services concerning the committees' activities during the period.
The frequency of the meetings of the committees is sufficient and, all the efforts are put down on paper and, recorded.
All the members of the Audit Committee have been elected among the members of the Board of Directors.
The chair persons of the Corporate Governance Committee and the Early Detection of Risk Committee are independent members of the Board of Directors. The Corporate Governance Committee consists of five members, the Early Detection of Risk Committee consists of three members and, the Audit Committee consists of two members.
There are three Independent Members of the Board of Directors of our Company. Our Independent Board Members Aydın Orhan, Azade BAŞAĞA and Özgür MUNGAN serve in three committees established within the Board of Directors.
It carries out the supervision of the accounting system of the company, disclosure of the financial information to the public, independent auditing and internal control and the operation and efficiency of the internal auditing system, determines the methods and the criteria to be implemented in the matters of investigation of complaints coming to the company regarding the company's accounting and internal control system, their resolution, evaluation of the company employees, company's accounting and independent auditing aspects notifications within the framework of confidentiality, notifies its determinations and the evaluations and the proposals on its area of duty and responsibility to the Board of Directors in writing and its evaluations regarding the compliance of the annual and interim financial tables to be disclosed to the public with the reality and accuracy of the accounting principles that the company pursues, by obtaining the opinions of the responsible managers and independent auditors of the company together with its own evaluations and notifies to the Board of Directors in writing.
The Audit Committee has convened five times during activity period of the year 2024 and the decisions taken have been presented to the Board of Directors.
At the meeting of the Board of Directors of Alkim Alkali Kimya AŞ dated 25.04.2024; In accordance with the Corporate Governance Principles annexed to the Corporate Governance Communiqué numbered (II-17.1) of the Capital Markets Board and other relevant legislation; it was decided to establish the Audit Committee with the participation of Board Members Özgür Mungan and Aydın Orhan and to appoint Özgür Mungan as the Chairman of the Audit Committee.
Özgür Mungan- Chairman of the Audit Committee -(Independent Member of the Board of Directors)
Azade Başağa - Member of the Audit Committee -(Independent Member of the Board of Directors)
Aydın Orhan - Member of the Audit Committee -(Independent Member of the Board of Directors)
The corporate governance committee identifies whether the respective corporate governance principles are applied, the reasons if not applied and, any possible conflict of interest that may arise to the failure to comply with these principles, provides suggestions to the board of directors to improve the applications of the corporate governance principles. It also supervises the operations of the "Investor Relations Department'
At the Board of Directors Meeting of Alkim Alkali Kimya AŞ dated 25.04.2024; In accordance with the Corporate Governance Principles annex to the Corporate Governance Communiqué numbered (II-17.1) of the Capital Markets Board and other relevant legislation; it was decided to establish the Corporate Governance Committee with the participation of Board members Aydın Orhan, A. Haluk Kora, Ferit Kora, Azade Başağa and Financial Affairs and Investor Relations Director Özgür Öge, and to appoint Aydın Orhan as the Chairman of the Corporate Governance Committee.
Aydın Orhan- Member of the Corporate Governance Committee –(Independent Chairperson of the Board of Directors)
A. Haluk Kora - Member of the Corporate Governance Committee (Vice-Chairperson of the Board of Directors)
Ferit Kora - Member of the Corporate Governance Committee (Member of the Board of Directors)
Azade Başağa - Member of the Corporate Governance Committee - (Independent Member of the Board of Directors) Özgür Öge - Member of the Corporate Governance Committee - (Financial Affairs and Investor Relations Director)
The Corporate Governance Committee also carries out the duties of the Committee for the Nominations and the Salary Committee. The tasks and responsibilities of the Corporate Governance Committee in respect of the committees for the nominations and remunerations as per the corporate governance are detailed in the working principles.
The Corporate Governance Committee informs the Board of Directors in writing of its findings and recommendations concerning the scope of its tasks and responsibilities. Accordingly, the Corporate Governance Committee has sent two notifications to the Board of Directors in 2024.
It conducts the works with the purpose of defining the risks that would jeopardize the existence of the company, its development and continuation; forming the models to avoid crises and, the management systems; early detecting the risks thereof; enforcing all the measures related thereto and, managing the risks accordingly. The chairperson of the Early Detection of Risk Committee is elected among the independent board members as per the Corporate Governance Principles.
At the Board of Directors meeting of Alkim Alkali Kimya A.Ş. dated 25.04.2024; In accordance with the Corporate Governance Principles annex to the Corporate Governance Communiqué numbered (II-17.1) of the Capital Markets Board and other relevant legislation; it was decided to establish the Early Detection of Risk Committee with the participation of Board members Aydın Orhan and Tülay Kora and to appoint Aydın Orhan as the Chairman of the Early Detection of Risk Committee.
Aydın Orhan- Chairman of the Early Detection of Risk Committee (Independent Member of the Board of Directors)
Tülay Kora - Member of the Early Detection of Risk Committee (Member of the Board of Directors)
The committee immediately provides the board of directors its findings in respect of the area of its own tasks and responsibilities as well as its respective assessments and suggestions in writing. The Early Detection of Risk Committee has convened six times during activity period of the year 2024 and the decisions taken have been presented to the Board of Directors.
The rights, benefits and salaries provided for the members of the Board of Directors and for the upper level managers and the criteria for the determination of these and the basis of the salary allotments are mentioned in the Salary Policy, and the information on the said policy has been given to the shareholders in the Ordinary General Assembly Meeting and the Salary policy has been disclosed to the public on the PDP and corporate Internet site.
During the Ordinary General Meeting held on April 25, 2024, the remuneration policy to be applied within the year has been deliberated, and it has been resolved to pay each member of the Board of Directors a gross amount of TL 42,500 per month. The members of the Board of Directors of our Company receives fixed remunerations per month. It has been included into the General Meeting's agenda as a separate item and presented for the information of our partners.
Dividends up to 4% of the net profit may be distributed to the members of the board of directors based on the article 16 of the articles of association provided that this must be approved at a general meeting. This amount to be distributed to the members of the Board of Directors may not exceed 10% of the paid capital.
The company does not provide any debt to any board member or top level manager, not make credits available, not supply credit under private credit title by means of third parties or does not establish guarantees like surety on its behalf.
Born in Senykent in 1957, Aydın Orhan graduated from Istanbul University Faculty of Law in 1981. In 1982, he completed his postgraduate education at Istanbul University, Faculty of Law, Maritime Trade and Insurance Law Department. His areas of expertise include Commercial and Contracts Law, Mergers/Acquisitions, Transportation Law, Trademark and Copyrights and Intellectual Property Law.
I hereby state that I intend to serve as an "Independent Member" of the Board of Directors of Alkim Alkali Kimya A.Ş. (Company) based on criteria laid down in the Corporate Governance Principles of the Capital Markets Board specified in the Communique on Corporate Governance (11-17.1), which was issued by the Capital Markets Board and promulgated in the 28871st issue of the Official Gazette on January 3, 2014 and the applicable legislation and the articles of incorporation.
a) a) There was no employment relationship with the Company and partnerships in which the company has management control as defined in Turkey Financial Reporting Standards 10 or has significant influence under Turkey Accounting Standards 28 and shareholders who control the company's management or have significant influence over the company and legal entities where such shareholders hold management control and myself, my spouse, and relatives by blood or marriage up to the second degree which involves employment at managerial position and that I did not own more than 5% of the capital or voting rights or privileged shares or had a material business relationship in the past five years,
I hereby inform the Board of Directors, shareholders, and all stakeholders accordingly. Date : 17.01.2024 Name and Surname : AYDIN ORHAN
Completing his higher education at Ankara University, Faculty of Political Sciences, Department of Business Administration, Özgür Mungan started his career as Assistant Inspector at T. Emlak Bankası AŞ in 1989. He worked as the Deputy Chairman of the Inspection Board in the same institution between 1994 and 1995, and as the Branch Manager and Head of the Purchasing Department between 1995 and 2001. Özgür Mungan, who continued his duties as Branch Manager at T.C. Ziraat Bankası AŞ between 2001-2004, worked as a Bank Manager at TMSF between 2004-2006. He worked as the Deputy Head of the Department Responsible for Collection and Receivables Sales in the II. Collection Department. During the same period, Mungan served as the Deputy Chairman of the Board of Directors at Pamuk Yatırım Menkul Değerler AŞ, and as a Member of the Board of Directors at Zeytinoğlu Holding AŞ, Kümaş - Kütahya Magnezit İşletmeleri AŞ, Emzet Akaryakıt Dağıtım ve Otomotiv AŞ and Entil Endüstri Yatırımları Tic. AŞ.
Özgür Mungan, who worked as a Senior Advisor at Deutschebank A.Ş. between 2006-2009, served as Deputy General Coordinator at Zeytinoğlu Holding AŞ between 2010-2011. He served as General Manager at Eston Yapı A.Ş. and Eston İnşaat A.Ş. between 2011-2012, CEO at Eksen Group between 2015-2016, and CEO at Neptun Turizm İşletmeleri A.Ş. between 2017-2019.
Mungan most recently served as an Independent Board Member at Yapı Kredi Koray GYO, Kartal Renewable Energy and Hun Renewable Energy companies, which are traded on the ISE.
I hereby state that I intend to serve as an "Independent Member" of the Board of Directors of Alkim Alkali Kimya A.Ş. (Company) based on criteria laid down in the Corporate Governance Principles of the Capital Markets Board specified in the Communique on Corporate Governance (11-17.1), which was issued by the Capital Markets Board and promulgated in the 28871st issue of the Official Gazette on January 3, 2014 and the applicable legislation and the articles of incorporation.
h) I was not registered and announced on behalf of a legal entity elected as a board member.. I hereby inform the Board of Directors, shareholders, and all stakeholders accordingly. Date : 17.01.2024 Name and Surname : ÖZGÜR MUNGAN
Born in Istanbul in 1948, Azade Başağa completed her secondary education at TED Ankara College and her undergraduate education at Hacettepe University French Philology department.
She is Co-Founder and President at Greenactive Ltd Şti Green Active PR. She carried out environmental, social responsibility, product market share increase and corporate reputation development projects, designs and applications for the institutions she served. She has Green Active PR has 14 International and 5 National awards.
I hereby state that I intend to serve as an "Independent Member" of the Board of Directors of Alkim Alkali Kimya A.Ş. (Company) based on criteria laid down in the Corporate Governance Principles of the Capital Markets Board specified in the Communique on Corporate Governance (11-17.1), which was issued by the Capital Markets Board and promulgated in the 28871st issue of the Official Gazette on January 3, 2014 and the applicable legislation and the articles of incorporation.
d) I am a resident of Turkey pursuant to the Income Tax Law numbered 193 and 31.12.1960,
e) I have strong ethical standards, professional reputation, and experience for making positive contributions to the Company's operations and maintaining my impartiality regarding any conflict of interest between the company and shareholders and freely making decisions by taking account of the rights of stakeholders,
The Early Detection of Risk Committee is responsible for carrying out works in order to early detect the risks that may jeopardize the existence, improvement and continuity of the Company, take necessary measures in connection with such risks detected and, manage these risks in an efficient manner, and reviews the risk management systems.
The company implements the risk management by considering the decisions of the Early Detection of Risk Committee. The Early Detection of Risk Committee has convened regularly and made the reporting to the Board of Directors within the terms of the Turkish Commercial Code and the Capital Market Board Legislation.
The partnerships, the shares of which are traded at stock exchange, must form an audit committee consisting of at least two members as per the respective Corporate Governance Principles. The independent audit corporation, from which the company receives the respective services, and the services to be received therefrom are identified by the audit committee and, submitted to the board of directors for approval at the respective general meeting. The Board of Directors identifies the audit committee to be appointed as per the respective Corporate Governance Principles as the committee in charge of the financial reporting. However, this does not relieve the board of directors from its responsibilities for the preparation, presentation and accuracy of the financial statements.
The audit committee supervises the accounting system, the disclosure of the financial information to the public, the independent audits and, the functioning and efficiency of the internal control and internal audit systems of the company.
We can state that one of the non-assignable and inalienable tasks of the board of directors of a stock corporation is the internal audit as per the pertinent provisions of articles 366 and 375 of the Turkish Commercial Code. Further, the Turkish Commercial Code, article 366, paragraph 2 provides that the board of directors may form committees and commissions, where the members of the board of directors may participate in order to follow up the progress of the works, to prepare report on the subjects to be presented to it, to have its resolutions to be implemented or for the purpose of internal auditing.
The basic target of our company is to realize the production at the maximum efficiency in the sodium sulfate, potassium sulfate and sodium chloride (salt) mines being operated and to market this particularly in our country, as well as the close neighbors and to the World. Our Company is the world's sixth largest sodium sulfate manufacturer and committed itself to maintaining this position and makes great efforts for even going further.
Since the reserve of our mining licenses within Çayırhan is significantly high, it is the general policy of Alkim to increase our power in the sodium sulfate industry by means of increasing the capacity from time to time considering the demand for sodium sulfate that increases in our country and the region, without harming the supply and demand equilibrium.
This product of perfect quality manufactured at our potassium sulfate facility commissioned as of November 2022 started to be offered to the market. We work with leading distributors on potassium fertilizers. Our potassium sulphate, which has a much higher added value than sodium sulphate, has attracted great interest in both domestic and international markets from the very first moment it was produced. Potassium sulfate is a very valuable fertilizer for the soil. In addition to being extremely suitable for organic agriculture with its high potassium oxide content and almost zero chlorine, it is completely suitable for drip irrigation technologies in agriculture with its 100% water solubility feature.
The Board of Directors and the Management continuously supervise the conditions of the Company in line with the strategic goals. During the meetings of the board of directors held frequently and periodically, the conditions of the Company are reviewed and, new targets and strategies are developed depending on changing conditions.
Monthly reports with respect to the achievement of the said targets are submitted to the Board of Directors, which then assesses such reports.
The "Communique (II-17.1.a)" on Amendment to the Corporate Governance Communique (II-17.1)", through which necessary additions have been made to the articles 1 and 8 of the Corporate Governance Communique so that the basic principles that the publicly traded companies are expected to disclose while carrying out their Environmental, Social and Corporate Governance works as per the Corporate Governance Communique, serial no. II-17.1 (Framework of Compliance with Sustainability Principles) are shared with the stakeholders, was published on the Official Journal on October 2, 2020.
The corporations are expected to provide a clarification on the annual reports concerning whether the sustainability principles are applied, if not, a reasoned description for the reason of, and the impacts of the environmental and social risk management due to the failure to these principles.
The basic provisions concerning the content and publication of the Sustainability Principles are determined and announced by the Capital Market Board.
The application of the Sustainability Principles are voluntarily and, the shareholders have been informed of the Framework of Compliance with Sustainability Principles concerning the sustainability principles.
The Corporate Governance Communique, serial no. II-17.1 was published on the Official Journal, no. 28871, on January 3, 2014. Our Corporate Governance Committee has analyzed the "Communique (II-17.1.a)" on Amendment to the Corporate Governance Communique (II-17.1)", published on the Official Journal on October 2, and the Framework of Compliance with Sustainability Principles.
The "Framework of Compliance with Sustainability Principles" sets forth the basic principles that the publicly traded companies are expected to disclose while carrying out the Environmental, Social Corporate Governance Management (ESM). Although the implementation of these principles are voluntarily, the corporations are required to report on whether they are complied with on the principle of "Comply or Disclose".
Accordingly, our Company has adopted the concepts of "equality", "transparency", "accountability" and "responsibility", which are the foundation of the corporate governance, and pays utmost attention to complying with the secondary regulations and decisions of the Capital Market Law ("CML") and the Capital Market Board ("CMB).
Our company attaches great importance to the application of the Corporate Governance Principles that are not mandatory. It has been decided to issue necessary regulations to comply with the framework at the maximum extent. There are already such regulations similar to those principles within the company. The company will make efforts to get over legal and restriction based obstacles. There has been no conflict of interest among the stakeholders up until today with respect to those principles not fully complied with.
In case of any conflict of interest that may arise in the future due to the failure to comply with these Principles that are not currently complied with, necessary investigations shall be made under the leadership of the Corporate Governance Committee, which is a management organ of our Company, the results thereof shall be shared with the Board of Directors, and necessary arrangements shall be made and, our organization is suitable for and award of these issues.
Efforts will continue to be made in order to ensure that the respective mechanisms within the framework of the said principles during the performance of the corporate governance practices and improve our corporate governance practices.
Based on the decision no. 34/977 adopted by the Capital Market Board on 23.06.2022 in accordance with the Corporate Governance Communique, serial no. II-17.1, the disclosures that are required to be made by corporations with shares exchanged on Primary Market, Star Market and Sub-Market on the Exchange Market for the compliance with the sustainability principles are to be made by means of using the following template of Sustainability Report through the Public Disclosure Platform (KAP) starting from the reports for 2022.
With the awareness of its social and environmental responsibilities, Alkim Alkali Kimya aims to be sensitive to the environment, to prevent environmental pollution and to continuously improve its environmental performance in all its activities and continues all its activities in this direction. With the awareness of environmental responsibility, it primarily determines the risks in each of its activities, and eliminates or minimizes these effects by making improvement studies. In this context, our Company, which focuses on creating value for today and the future, makes regulations in order to comply with the Sustainability Principles to the maximum extent.
At Alkim Kimya, sustainability, environmental management issues are evaluated and carried out through regular meetings with the environmental team, established within the scope of our environmental management system. In these meetings, the steps to be taken to reach our environmental targets set every year and to reach the targets are evaluated and studies are carried out in line with our environmental policy.
The Company does not have any lawsuits filed against it regarding environmental, social and corporate governance issues.
Attaching great importance to nature, the environment and quality since its establishment, Alkim Alkali Kimya has the first ISO 9001 Quality Management System in the world. In addition, it has a laboratory with ISO 14001 Environmental Management System, which proves the value it attaches to the environment, ISO 45001 Occupational Health and Safety Management System, which shows that its employees work in healthy environments and the value they attach to occupational health in their activities and the Accreditation Certificate, which is the TS EN ISO 17025 standard document, which proves the accuracy of the analyzes of the products it produces.
Due to the negative effects of climate change, natural resources are decreasing and ecosystems are being damaged. With the awareness that it is an important responsibility to minimize the effects of climate change and to protect natural resources that future generations will need, our company works to be a company that respects nature, as stated in its Environmental Policy.
Since the day it was founded, it continues its productions by aiming to carry out improvement works and to have a minimum impact on the environment, as in every other subject. The Company, which complies with the requirements of the TS EN ISO 14001 Environmental Management System document that it has owned since 2011, has achieved a significant reduction in the amount of waste with its waste management plans. In 2021, the Company received a "Basic Level Zero Waste Certificate" for five years.
Alkim Kimya carries out studies with the awareness of its responsibility within the scope of reducing natural resource consumption.
Our company has made significant improvements in recent times when energy costs have increased, and continues to do so. In this context, it aims to work more efficiently by starting to work on obtaining the ISO 50001 Energy Management System certificate in the upcoming period.
Efforts to replace the low efficiency electric motors working on the production line of the factory with more efficient electric motors (IE4) continue. In addition, research on the use of solar energy from renewable energy sources continues.
Our company aims to achieve a decrease in the amount of energy consumption in the coming years.
Alkim Kimya, within the framework of the global warming problem, carries out its activities with the awareness of its responsibility in reducing greenhouse gas (CO2) emissions.
Within the scope of the verification studies carried out by accredited institutions every year, when the last five years of the Company are taken as reference, it has been noted that although an increase is observed in the total production amount, an improvement has been achieved in the emission amounts per unit production.
Studies show that Alkim Alkali Kimya A.Ş. fulfills its part in the issue of global warming, which is emerging in the world. The company, without forgetting its responsibility towards the world, continues its efforts to implement projects that will reduce greenhouse gas emissions.
Water is one of our most important natural resources. Despite the decreasing rainfall due to the effect of climate change, water resources need to be managed effectively due to the increase in production and consumption. Alkim Kimya continues its activities aiming to ensure minimum water consumption.
Since 2011, our company, which complies with the requirements of the TS EN ISO 14001 Environmental Management System certificate it owns, monitors and evaluates the amount of water consumption.
Alkim Kimya aims to decrease the consumption of other natural resources, especially water consumption, in the coming years.
Alkim Kimya is a well-established company that creates added value to our country's economy with its knowledge, technology and products it produces. With the awareness that the most important value that carries us to this success is human resources, our employees are a part of our business and are our business partners with whom we share our successes.
Our company continues on its way by creating an effective and productive working environment for its employees who adopt the values of honesty, transparency, efficiency, respect for people and the environment. Alkim Kimya, based on laws, corporate values and ethical rules in human resources practices, is built on equal opportunity.
Human Resources follows an objective, systematic and development-oriented approach in all processes, from recruitment to career management, from training and development to performance management. Implements competitive compensation and benefits strategies that are compatible with market conditions.
Alkim Kimya does not discriminate on the basis of race, color, age, nationality, gender or belief while conducting all kinds of relations with its employees. As with all recruitment processes, equal opportunity is also provided to our employees. Employees' performance is managed and career and development plans are created with the right planning, succession and career management to bring good talents to our institution.
Our company has integrated its management and employees, which is fully committed to ethical values, has seen all its employees as family for generations, and thus has an employee structure with a high job loyalty.
Our employees shall never share non-public information with third parties for any reason, either for their own benefit or for the benefit of someone outside the Company. It is forbidden for those who can access inside information to gain benefits for themselves and/or third parties by using this information. Those who have access to inside information are the chairperson and members of the board of directors of the publicly traded company, senior managers, auditors, as well as those who may have information during the performance of their profession and duties, and the persons whose names have been determined, who may have direct or indirect information due to their contacts.
Alkim Kimya aims to present its approach to bribery and corruption clearly and to protect the image of the company. In this direction, as a part of the sensitivity it shows in business ethics, "Anti-Bribery and Anti-Corruption Policy has been implemented and it is announced on the corporate website of our company under the heading Investors Corporate Governance.
Due to the fact that it is a legally punishable act besides business ethics Employees are expected to show sensitivity in this regard and to be seen as a part of their personal duties and responsibilities independent of working life.
Our company aims at maximum compliance with the "Sustainability Principles Compliance Framework", which was prepared in line with the amendment dated 02.10.2020 made in the Corporate Governance Communiqué of the Capital Markets Board, and taking into account the interests of all stakeholders, especially the shareholders, it aims to continue its efforts to improve the compliance with the aforementioned principles.
| COMPLIANCE STATUS | |||||||
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| YES | NO | PARTIALLY | N/A | DESCRIP TION |
REPORT DETAILS ON INFORMATION DISCLOSED TO THE PUBLIC LINK DETAILS |
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| A. General Principles | |||||||
| A1. Strategy, Policy and Targets | |||||||
| A1. 1 |
The board of directors identifies the subjects, risks and opportunities concerning the primary environmental, social and corporate governance (ESG). |
x | The ESG working group founded as a group reporting to the General Manager upon the suggestion of the Corporate Governance Committee of Alkim Alkali Kimya A.Ş. is continuing to make efforts intended to identify the risks and opportunities, efficiently manage them, and create values and awareness in respect of sustainability. |
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| The ESG policies are created and disclosed to the public by the board of directors (e.g. Environmental Policy, Energy Policy, Human Rights and Employees Policy etc.). |
x | A resolution has been adopted by the board of directors for the Information Policy, Remuneration Policy, Profit Distribution Policy and Donation & Aid Policy out of the ESG Policies prepared in line with the Capital Market Legislation, and all of these policies are made available on the Public Disclosure Platform and at the corporate website of our company: www.alkim.com. Other ESG policies are being prepared. |
https://www.alkim.com.tr/alki m bilgilendirme-politikasi https://www.alkim.com.tr/Kar -Dagitim Politikasi https://www.alkim.com.tr/Bag is Ve- Yardim Politikası https://www.alkim.com.tr/rus vet-ve yolsuzlukla- mucadele-politikasi https://www.alkim.com.tr/Etik-Kurallar https://www.alkim.com.tr/ucr etlendirme politikasi |
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| A1.2 | The short and long term targets as identified within the scope of the ESG policies are disclosed to the public. |
x | There are targets that had been identified, but these targets have not been disclosed to the public. The efforts concerning these targets are in progress. |
| A2. Application/Monitoring | |||
|---|---|---|---|
| A2. 1 |
The committees and/or units in charge of carrying out the ESG policies as well as the senior officers concerning the ESG matters and, their tasks within the organization are identified and disclosed to the public. |
x | The Corporate Governance Committee, Early Detection of Risk and Audit Committees have been established and disclosed to the public. An ESG Working Group has been formed at the general manager office level upon the suggestion of the Corporate Governance Committee, but not disclosed to |
| the public. |
| The respective committee and/or unit submits a report to the board of directors about the operations carried out within the scope of these policies for at least once in a year. |
x | The ESG Working Group provides a report on such efforts under the surveillance of the Corporate Governance Committee. |
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| A2.2 | Application and action plans are created and disclosed to the public in line with the ESG Targets. |
x | TS EN ISO 140012015 Environmental Management System Certification is available for the Dazkırı Koralkim Sodium Sulfate Facilities of our company. Action plans in line with the targets have been created as part of this management system but not disclosed to the public. Necessary studies are in progress for the integration of our other facilities. |
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| A2.3 | The ESG Key Performance Indicators (KPI) and the level to fulfill these indicators by years are disclosed to the public. |
x | The Key Performance Indicators (KPI) have been identified. Monitored by years. However, not disclosed to the public. |
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| A2.4 | The innovation activities that improve the sustainability performance for business processes or products and services are disclosed to the public. A3. Reporting |
x | Innovation activities concerning the business processes are carried out. However, these studies have not been disclosed to the public yet. |
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| Details about the sustainability | x | ||||
| A3.1 | performance, targets and actions of the organization are provided on the annual reports in a comprehensible, accurate and sufficient manner. |
| Information is disclosed to the | x | The ESG Working Group is | ||||
|---|---|---|---|---|---|---|
| A3.2 | public by the organization to | continuing studies in this |
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| indicate to which principles of | respect. | |||||
| the United Nation (UN) 2030 | ||||||
| Sustainable Development |
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| Targets its operations are |
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| related. | ||||||
| Legal actions brought and/or | x | The company has not been a | ||||
| finalized against the company | party to a lawsuit in this scope. | |||||
| A3.3 | in respect of the ESG matters, | |||||
| and those legal actions that are | ||||||
| significant to the ESG policies and/or that may significantly |
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| affect the operations are |
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| disclosed to the public. | ||||||
| A4. Verification | ||||||
| The ESG Key Performance | x | There has been no verification | ||||
| A4.1 | measurements of the |
by an independent third party | ||||
| organization are verified by an | for the operations in 2024. | |||||
| independent third party and | ||||||
| disclosed to the public. | ||||||
| B. Environmental Principles | ||||||
| TS EN ISO 140012015 |
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| The organization announces | x | Environmental Management |
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| B1 | the policies and practices, |
System Certification is |
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| action plans, environmental |
available for the Dazkırı |
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| management systems (known | Koralkim Sodium Sulfate |
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| as ISO 14001 standard) and | Facilities of our company. |
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| programs in the field of |
Action plans in line with the | |||||
| environmental management. | targets have been created as | |||||
| part of this management |
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| system but not disclosed to the |
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| public. Necessary studies are | ||||||
| in progress for the integration of our other facilities. |
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| The organization discloses to | Our organization outsources | |||||
| the public the report's extent, the | x | the environmental |
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| B2 | report period, the report date, | management from a company |
| restrictions concerning the environmental reports prepared |
inspection reports are prepared and shared with the |
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| for the submission of |
Management on a regular |
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| environmental management |
basis. However, this reporting | ||||
| related information. | is not disclosed to the public. | ||||
| B3 | Provided on A2.1. | ||||
| B4 | The environmental targets that | x | |||
| are included into the rewarding | |||||
| criteria within the scope of | |||||
| performance incentive systems | |||||
| for the stakeholders (such as | |||||
| board members, executives and | |||||
| employees) are disclosed to the | |||||
| public. | |||||
| Details on how to integrate the | The primary environmental |
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| B5 | primary environmental problems | x | problems have been integrated | ||
| with the respective business | with the respective business | ||||
| targets and strategies are |
targets and strategies, and | ||||
| disclosed to the public. | monitored pursuant to the |
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| applicable legal procedures |
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| and, the practices concerning | |||||
| thereto are followed. However, | |||||
| this process has not been | |||||
| disclosed to the public. | |||||
| B6 | Provided on A2.4. | ||||
| Details on how the |
x | ||||
| B7 | environmental matters are |
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| managed, and integrated with | |||||
| the respective nosiness targets | |||||
| and strategies in a way that | |||||
| covers the suppliers and |
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| customers across the value | |||||
| chain of the organization |
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| including the operational |
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| process are disclosed to the | |||||
| public. |
| Our organization is involved | |||
|---|---|---|---|
| into and supports the process | |||
| Details on whether the |
of the respective authorities | ||
| organization is involved into the | x | and nongovernmental |
|
| B8 | process of the respective |
organizations to create |
|
| authorities and |
environmental related policies. | ||
| nongovernmental organizations | Contracts have been |
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| to create environmental related | concluded in 2022 for the | ||
| policies, and the collaborations | purpose of ensuring recovery | ||
| with them are disclosed to the | targets with the recycling |
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| public. | companies that have been | ||
| established to contribute in the | |||
| establishment of a sustainable | |||
| recovery system through the | |||
| contribution and participations | |||
| of the industry, local |
|||
| governance and consumers for | |||
| the economic and regular |
|||
| recovery of packaging wastes | |||
| in Turkey. The collaborations | |||
| with such authorities and |
|||
| nongovernmental | |||
| organizations have not been | |||
| disclosed to the public. | |||
| The Scope 1 Greenhouse Gas | |||
| Emissions are calculated and | |||
| verified by the verifying |
|||
| Reports on the environmental | organization on an annual |
||
| impacts are disclosed to the | basis, and the approved report | ||
| public in a comparative manner | x | is resented to the Ministry of | |
| B9 | under the light of the |
Environment and Urban |
|
| environmental indicators |
Planning every year. The stack | ||
| (Greenhouse gas emissions |
emissions are online monitored | ||
| (Scope -1 (Directly), Scope -2 |
by the Ministry of Environment |
||
| (Energy indirectly), Scope -3 |
under the scope of the |
||
| (Other indirectly) 1), air quality, | Continuous Emission |
||
| energy management, water and | Measurement Systems |
||
| waste water management, |
Communique (SEÖS). In |
||
| waste management, biodiversity | addition to the online |
| impacts). | monitoring, our flue gas |
||||
|---|---|---|---|---|---|
| emissions are measured and | |||||
| monitored periodically by |
|||||
| organizations that are |
|||||
| appointed by the and Ministry | |||||
| of Environment and Urban | |||||
| Planning. The following data | |||||
| are monitored: energy |
|||||
| consumptions and water |
|||||
| consumptions as well as |
|||||
| wastewater and |
|||||
| hazardous/non -hazardous |
|||||
| waste discharged together |
|||||
| therewith. All these |
|||||
| consumptions are periodically | |||||
| reported in comparative tables. | |||||
| B10 | The standards, protocols, |
x | |||
| methodologies and base year | |||||
| details that are used to collect | |||||
| and calculate the data are | |||||
| disclosed to the public. | |||||
| Details on the status of the | Our organization monitors |
||||
| B11 | environmental indicators for the | x | increases or decreases in the | ||
| reporting year, increases or | environmental indicators for | ||||
| decreases, in comparison with | the reporting year in a way that | ||||
| previous years, are disclosed to | is compared to the previous | ||||
| the public. | years within the scope of our | ||||
| Environmental Management |
|||||
| System, carry out necessary | |||||
| improvements and take |
|||||
| necessary actions, but these | |||||
| details are not disclosed to the |
|||||
| public. | |||||
| Short and long term targets have | x | TS EN ISO 140012015 |
|||
| B12 | been identified to reduce the | Environmental Management |
|||
| environmental impacts, and |
System Certification is |
||||
| these targets and the details on | available for the Dazkırı |
||||
| the progress compared to the | Koralkim Sodium Sulfate |
||||
| targets set in the previous years | Facilities of our company. |
| are disclosed to the public. | Targets have been set as part of this management system but not disclosed to the public yet. Necessary studies are in progress for the integration of our other facilities. |
|||||
|---|---|---|---|---|---|---|
| B13 | A strategy to fight the climate crisis is created and, the actions planned are disclosed to the public. |
x | ||||
| B14 | Programs or procedures are created in order prevent or minimize the potential environmental impacts of the products and/or services, and these programs or procedures are disclosed to the public. |
x | Life cycles have been created within the scope of the Environmental Management Programs to prevent or minimize the potential environmental impacts of the products we manufacture, but these life cycles have not been disclosed to the public. |
|||
| Actions are taken to reduce the greenhouse emissions of the respective third parties (e.g. suppliers, sub -contractors, dealers etc.) and these actions are disclosed to the public. |
x | |||||
| B15 | Details on the environmental benefits/earnings and cost savings from such attempts and projects intended to minimize the environmental impacts are disclosed to the public. |
x | ||||
| B16 | Data on energy consumption (natural gas, diesel, gasoline, LPG, coal, electric, heating, cooling etc.) are disclosed to the public as Scope -1 and Scope -2. |
x | Data on energy consumption (natural gas, diesel, gasoline, LPG, coal, electric, heating, cooling etc.) are shared with third parties as Scope -1 and Scope -2 within the scope of the applicable legal procedures. |
| B17 | Details on electricity, heat, steam and cooling generated and consumed within the reporting year are disclosed to the public. |
x | Total generated and consumed electricity, heat, steam, etc. data are recorded and reported to the senior management on a daily basis. |
||
|---|---|---|---|---|---|
| B18 | Studies are performed on increasing the use of renewable energy, transition to zero or low carbon electricity and these studies are disclosed to the public. |
x | Efforts are made in respect of the transition to the use of renewable energy in both Dazkırı Sodium Sulfate Facilities and Çayırhan Sodium Sulfate Facilities, and it is planned that it will put into practice within 2025. |
||
| B19 | Data on the renewable energy production and usage are disclosed to the public. |
x | |||
| B20 | Energy efficiency projects are prepared, and the details on the reduces achieved in the energy consumption and emission because of the energy efficiency projects are disclosed to the public. |
x | It is planned that the studies on the TS EN ISO 50001 Energy Management System and Energy Efficiency that are legally compulsory are to be completed within 2024. This will make it possible to prepare projects intended to reduce the energy consumptions and emissions. |
||
| B21 | Details on the water consumption, and the quantities and sources of water drawn from underground or aboveground, recycled and discharged, and the respective procedures are disclosed to the public. |
x | Water consumption, and the quantities and sources of water drawn from underground or aboveground, recycled and discharged are monitored. |
||
| B22 | Details on whether the operations or activities are included in any carbon pricing system (Emission Trading |
x |
| System, Cap & Trade or Carbon Tax) are disclosed to the public. |
||||
|---|---|---|---|---|
| B23 | Details on the carbon credit information that is accumulated or purchased during the reporting period are disclosed to the public. |
x | ||
| B24 | Details on if carbon pricing is applied within the partnership or not are disclosed to the public. |
x | ||
| B25 | Details on the platforms on which the environmental information of the organization is provided are disclosed to the public. |
x |
| C. Social Principles | |||||
|---|---|---|---|---|---|
| C1. Human Rights and Employee's Rights |
|||||
| C1.1 | A Corporate Human Rights and Employees' Rights Policy is created in accordance with the Universal Declaration of Human Rights, the ILO Conventions approved by Turkey, and other applicable regulations, those responsible for the implementation of this policy are identified, and the details thereon are disclosed to the public. |
x | Our company has announced its Ethical Principles and Commitments at workplaces through the employee booklets and boards, and has distributed these booklets to each employee. Moreover, our company fulfils its essential working principles and legal compliance commitments including Human Rights, publishes this including its website, and informs its customers and employees separately through audits and acknowledgements; however this has not been disclosed to the public. |
||
| C1.2 | The employees' rights policy contains the matters such as fair labor, improvement of working conditions, women employment and engagement considering the impacts of the supply and value chains (no discrimination in respect of gender, race, religion, language, civil status, ethnicity, sexual orientation, gender identity, family responsibilities, trade union activities, political opinion, disability, social and cultural differences etc.). |
x | These issues have been passed from audit for social compliance issues that have been audited in the audit reports of the SEDEX audit company, and this issue is included into our Company's Ethical Principles and our commitments. All the stakeholders need to comply with the business ethics rules or have a code of conduct that is of equal importance. |
| C1.3 | Details on the measures that are taken along the value chain for the protection of groups sensitive to certain economic, environmental, social factors (low -income groups, women, etc.) or minority rights / equal opportunities are diclosed to the public. |
x | Our company is audited by SEDEX, which has BSCI Corporate Social Compliance audit certificate, and our practices in this regard are considered at an advanced level so far. However, not disclosed to the public. |
|
|---|---|---|---|---|
| C1.4 | Details on developments related to the preventive and corrective actions concerning discrimination, inequality, violations of human rights, forced labor and child employment are disclosed to the public. |
x | We follow -up the principles announced in AFR 01 -06 in our Social Compliance Policies, and our company has not made any reporting since no such case has been recognized in its history. However, not disclosed to the public. |
|
| C1.5 | The employees' rights policy contain the matters such as investment in employees (training, development policies), compensation, granted benefits, right to unionization, work / life balance solutions, and talent management. |
x | Implemented and audited within the scope of BSCI Corporate Social Compliance. No deficiency has been found in this matter that is one of the articles of SEDEX audits. |
| Mechanisms are created in connection with the resolution of complaints and disagreements of employees to identify the processes to resolve such disputes. Details on the activities carried out within the reporting period in order to maintain customer satisfaction are disclosed to the public. |
x x |
Within the direct and vertical hierarchy of our employees; if there is any problem or disagreement that is required to be resolved, all of our employees are aware of our "Open Door Policy" as we have declared. There are evaluations submitted to our employees on the subject. |
|
|---|---|---|---|
| Occupational health and safety policies are created and disclosed to the public. |
x | Our company has an Occupational https://www.alkim.com.tr/is - Health and Safety Policy and made sagligi -ve - guvenlik available the same on the website to all the stakeholders and the public. |
|
| C1. 6 |
Details on the measures that have been taken to prevent work accidents and to protect health, and the accident statistics are disclosed to the public. |
x | This is currently performed by means of electronic signs at the company's production locations. Furthermore, the notifications arising from the laws are made on time and to public entities, and their statistics are kept at public entities. In addition https://www.kap.org.tr/tr/Bildiri to this, there is no separate m/902114 disclosure open to entire public. The health and safety of our employees are of top importance for Alkim. As a result of the efforts carried out in line with this purpose, all the factories are entitled to TSE Covid -19 Safe Production Certification. |
| C1.7 | Personal data protection and data security policies are created and disclosed to the public. |
x | In the KVKK (Protection of Personal Data) Legal process; occupational safety requirements have been fulfilled with the information, assignment and commitments that are made through VERBIS system, as well as the notifications made on |
| our WEB site and the employees and data owners whose explicit consent have been received by us. However, not disclosed to the public. |
||||
|---|---|---|---|---|
| C1.8 | A code of conducts is created and disclosed to the public. |
x | With our Document AFR 01-07, our Company's Business Ethics Policy and Rules have been disclosed to all public and 3rd parties through our Internet site. |
https://www.alkim.com.tr/Etik Kurallar |
| C1.9 |
| C1. 1 |
Acknowledgement meetings and training programs are organized for employees on ESG policies and practices. |
x | Decided to engage the Corporate Governance Committee to ensure that the necessary efforts concerning the Sustainability Principles Compliance Frame are carried out in line with the business |
||
|---|---|---|---|---|---|
| 0 | operations of our company. A Sustainability Working Group has been formed within the organization of our company. The authorized persons within the group have been informed accordingly. An evaluation is being made in this respect. |
||||
| C2. Stakeholders, International Standards and Initiatives |
|||||
| C2. 1 |
A customer satisfaction policy is issued about the management and resolution of customer complaints and, and disclosed to the public. |
x | Our company attaches great importance to customer satisfaction within the framework of our TS ISO 9001:2018 Quality Management System and, this is discussed on the ALKİM Quality Policy. |
https://www.alkim.com.tr/kali te - yonetimi |
|
| Levels of customer satisfaction are measured every year and, necessary actions are taken in case of dissatisfaction as a result of feedbacks. However, not disclosed to the public. |
|||||
| C2.2 | Details on the communication with the stakeholders (which stakeholders, subject and frequency) are disclosed to the public. |
x | Issues that concern Stakeholders in the field of sustainability are shared on various platforms, in the annual report and on the corporate website. |
| C2.3 | Details on the international reporting standards adopted on the reports are disclosed. |
x | Studies are in progress in respect of international reporting standards. |
|
|---|---|---|---|---|
| C2.4 | Details on the principles adopted with respect to sustainability as well as the international institutions, committees and procedures applying to the organization are disclosed to the public. |
x | Studies within this scope are in progress . |
|
| C2.5 | Improvements and are carried out and efforts are made to be included in the sustainability indexes of the Istanbul Stock Exchange and/or international index providers. D. Corporate Governance Principles |
x | Matches with the targets, efforts and actions of sustainability. |
|
| D1 | Opinions of stakeholders in determining the measures and strategies in the field of sustainability are received. |
x | ||
| D2 | Efforts are made on raising awareness on the issue of sustainability and its importance through social responsibility projects, awareness activities and trainings. |
x |
The Corporate Governance Compliance Report (CRF) and the Corporate Governance Information Form (CGIF) are disclosed to the public at the Public Disclosure Platform ("PDP") at least three weeks before the general assembly meeting date. The CRF is used to report the status of compliance with voluntary principles, and the CGIF is used to provide information on the existing corporate governance practices.
The Corporate Governance Compliance Report has been prepared as follows in line with the formats as set forth under the Capital Market Board's ("CMB") Decision No. 2/49 of 10 January 2019 and the Corporate Governance Communique No. II-17.1. The section marked with (X) represents the compliance status of the Company and necessary explanations are made for the practices for which a "yes" answer is not given.
Corporate Governance Compliance Report
| Compliance Status | |||||||
|---|---|---|---|---|---|---|---|
| Yes | Partially | No | Exempted | N/A | Disclosure | ||
| Corporate Compliance Report |
Governance | ||||||
| 1.1. FACILITATION OF USE OF THE RIGHTS OF SHAREHOLDERS |
THE | ||||||
| 1.1.2 - All information disclosures that may affect the exercise by a shareholder of their rights are update available to the investors through the corporate internet site of the company. |
and and made |
X | |||||
| 1.2. RIGHT TO DEMAND AND REVIEW INFORMATION |
|||||||
| 1.2.1- The management has avoided any action that may make difficult the performance of special audits. |
company's | X | There is no provision in the articles of association concerning the appointment of special audits. There has been no special audit request within the period. |
||||
| 1.3. GENERAL MEETING | |||||||
| 1.3.2 - The company has ensured that the agenda items of the general meeting are disclosed and, each proposal is submitted under a heading. |
clearly separate |
X | |||||
| 1.3.7 - Those who privilege access to the company's information have informed the board of directors about their actions carried out concerning the subject of activity of the company on their own behalf, which is to be notified during the general meeting. 1.3.8 - The respective board |
have a |
X | No transaction disclosure has been made within the scope of the Principle 1.3.7. |
||||
| members and other persons |
| relating to the material subjects in the agenda, those in charge of the preparation of X the financial statements and, the auditors have attended the general meeting. |
||
|---|---|---|
| 1.3.10 - A separate section has been formed under the agenda items of the general meeting the amounts of all the donations and aids and, those who have made use thereof. |
X | The amounts of all the donations and aids and, those who have made use thereof have been stated on the agenda items of the general meeting. |
| 1.3.11 - The general meeting was held open to the public including the stakeholders and media members with no right X to take the floor. |
| Compliance Status | ||||||
|---|---|---|---|---|---|---|
| Yes | Partially | No | Exempted | N/A | Disclosure | |
| 1.4. VOTING RIGHT | ||||||
| 1.4.1 - There is no restriction or application that may make difficult for the shareholders to exercise their voting rights. |
X | |||||
| 1.4.2- There is no share in the company to which a privilege voting right is attached. |
X | Whereas, the shares of the Groups A, B, C and D were entitled to 100 votes per share as per the Articles of Association during the incorporation of the Company, and the Turkish Commercial Code No. 6102, the article 479(2) "Privileges regarding the Voting Right" provides that each share may be entitled to fifteen votes at maximum and, this restriction would not be applied if it was provided that there was a justified reason or due to such reasons that require institutionalization. Accordingly, a legal action initiated before the Commercial Court of First Instance located where the registered office is situated for establishing a provisional injunction to be excluded from the said restriction has been refused and, the decision thereof has been approved before the Court of Cassation. Therefore, the respective provisions of the article 479 (2) of the Turkish Commercial Code have applied to the Group "A", "B", "C" and "D" shares. 1 vote cast for 1 share in any type of the shares during the General Assembly Meetings of the |
| Company. | |||
|---|---|---|---|
| 1.4.3 - The company has not exercised the voting right at general meeting of any partnership, in which the company has a mutual participation relationship causing a controlling relationship. 1.5. MINORITY RIGHTS |
X | Our company has exercised voting right at the general meeting of Alkim Kağıt Sanayi ve Ticaret A.Ş. where our company holds 79.93% of the shares. |
|
| 1.5.1 - The company has taken utmost care about the use of the minority rights. |
X | ||
| 1.5.2 - Minority rights has also been granted to those holding less than twentieth of the capital as per the articles of association and, extended the scope of the minority rights under the articles of association. |
X | The pertinent provisions of the Turkish Commercial Code No. 6102 and the Capital Market Law No. 6362 are applied although it is not regulated under the articles of association. |
|
| 1.6. ENTITLEMENT TO |
|||
| DIVIDENDS | |||
| 1.6.1 - The dividend policy approved by the general meeting has been disclosed to the public through the corporate website of the company. |
X | ||
| 1.6.2 - The dividend policy contains minimum information that is sufficient to ensure that the shareholders could forecast the principles on how to distribute the profits in the subsequent periods. |
X | ||
| 1.6.3 - Reasons of non - distribution of dividends and, how the undistributed profits are to be used are indicated in the respective agenda item. |
X | ||
| 1.6.4 - The board of directors have reviewed if there has been balance between the benefits of the shareholders and the benefits of the company in the dividend policy. |
X | ||
| 1.7. SHARE TRANSFERS |
| Compliance Status | ||||||
|---|---|---|---|---|---|---|
| Yes | Partially | No | Exempted | N/A | Disclosure | |
| 1.7.1 - There is no restriction that make difficult share transfers. |
X | There is no restriction on the shares of our company traded at the exchange market. However, a right of first refusal is attached to the founder shares concerning the transfers of the founder shares. |
||||
| 2.1. CORPORATE WEBSITE |
||||||
| 2.1.1 - The corporate website of the company contains all the factors as required as per the corporate governance principle no. 2.1.1. |
X | Since the Company does not have a policy on the acquisition of own shares, there is no information on the website in this respect. |
||||
| 2.1.2- The shareholding structure (names, privileges, number of shares and privileges of the real persons holding 5% of the issued capital) is updated on the corporate website once every 6 months. |
X | |||||
| 2.1.4 - The information contained on the corporate website of the company is also prepared in foreign languages selected according to the needs with the same content as the Turkish version. |
X | Information considered significant has been translated into English and, efforts are being made to translate all the information. |
||||
| 2.2. ANNUAL REPORT 2.2.1 - The board of directors ensures that the annual reports reflect the company activities in a complete and accurate manner. |
X | |||||
| 2.2.2 - The annual report contains all the factors as required by the principle no. 2.2.2. |
X | |||||
| 3.1. COMPANY POLICY CONCERNING STAKEHOLDERS |
| 3.1.1 - The regulations concerning the rights of the stakeholders are protected under the respective agreements and bona -fide rules. |
X | ||||
|---|---|---|---|---|---|
| 3.1.3 - The policies and procedures concerning the rights of the stakeholders are made available on the corporate website of the company. |
X | There is no policy and procedure concerning the rights of the stakeholders. |
|||
| 3.1.4 - Mechanisms through which the stakeholders are able to notify about actions contrary to the pertinent legislations and considered not ethically have been created. |
X | ||||
| 3.1.5 - The Company deals with the conflicts of interest between the stakeholders in a balanced manner. |
X | ||||
| 3.2. SUPPORTING THE PARTICIPATION OF THE STAKEHOLDERS IN THE COMPANY MANAGEMENT |
|||||
| 3.2.1 - The participation of the employees in the management is regulated under the articles of association or by means of internal directives. |
X | The participation of the employees in the management by means of internal applications, although there is no such provision under the articles of association. |
|||
| 3.2.2 - Methods such as surveys / consultations have been applied to obtain the opinions of the stakeholders in respect of significant decisions that may have consequences about the stakeholders. |
X | Requests, recommendations and complaints submitted by the customers, suppliers and shareholders are dealt with and assessed accordingly. |
| Compliance Status | ||||||
|---|---|---|---|---|---|---|
| Yes | Partially | No | Exempted | N/ A |
Disclosure | |
| 3.3. COMPANY'S HUMAN RESOURCES POLICY |
||||||
| 3.3.1 - An employment policy that provides equal opportunities and a succession planning for all the key executives have been adopted by the company. |
X | Although there is an employment policy that provides equal opportunities, studies are in progress about the succession planning. |
||||
| 3.3.2 - Criteria with respect to personnel hiring have been set forth in writing. |
X | |||||
| 3.3.3 - The company possesses a Human Resources Improvement Policy and, carries out training activities for the employees accordingly. |
X | |||||
| 3.3.4 - Meetings have been held to inform the employees of the company's financial conditions, remuneration, career planning, training and health. |
X | There has been periodic information, but no information meeting has been held since efforts are in progress in respect of some certain subjects. |
||||
| 3.3.5 - Decisions that may affect the employees have been informed to the employees and their representatives. The opinion of the respective union has been obtained in these respects. |
x | Our employees are directly informed but there is no union. |
||||
| 3.3.6 - All the job definitions and performance criteria have been prepared in detailed for the employees and announced to them and, used for the decisions about remuneration. |
X |
3.3.7 - Measures have been taken in order to discrimination among the employees and protect the employees from physical, mental and emotional abuses within the company through mechanisms such as procedures, training, awareness raising, targets, monitoring, complaints etc. X 3.3.8 - The company supports the right to form associations and use of collective agreements in an efficient manner. X 3.3.9 - A secure working environment is provided for the employees. X 3.4. RELATIONSHIPS WITH THE CUSTOMERS AND SUPPLIERS 3.4.1-The company has measured the level of customer satisfaction and, acted in line with the principle of unconditional customer satisfaction. X 3.4.2 - In case there is any delay in the processing of the requests of the customers concerning the goods and services purchased, the customers are accordingly informed. X 3.4.3 - The company act in line with the respective quality standards concerning its goods and services. X 3.4.4 - The company possesses all controls intended to protect the confidentiality of the sensitive information of the customers and suppliers considered trade secrets. X 3.5. CODES OF CONDUCT AND SOCIAL RESPONSIBILITY 3.5.1 - The board of directors has set forth the Codes of Conduct and make it available on the X
| corporate website of the | ||
|---|---|---|
| company. |
| Compliance Status | ||||||
|---|---|---|---|---|---|---|
| Yes | Partially | No | Exempted | N/ A |
Disclosure | |
| 3.5.2- The company is sensitive about the concept of social responsibility. It has taken measures to prevent corruption and bribery. |
X | |||||
| 4.1. FUNCTION OF THE BOARD OF DIRECTORS |
||||||
| 4.1.1- The board of directors ensures that the strategies and risks do not pose any threat to the long-term benefits of the Company and, an efficient risk management takes place accordingly. |
X | |||||
| 4.1.2- The agenda items and minutes of the meetings evidence that the board of directors discusses on approve the strategic targets of the company, identifies the resources need and, audits the management2s performance. |
X | The board of directors carries out the agenda items and minutes in line with the company's targets and the resources needed, but there is no performance audit on the board of directors. |
||||
| 4.2. THE BOARD OF DIRECTORS' PRINCIPLES OF OPERATION |
||||||
| 4.2.1- The board of directors have documented its activities and, informed the shareholders accordingly. |
X | |||||
| 4.2.2- The board members' duties and authorities have been indicated on the annual report. |
X | The annual reports indicates the pertinent provisions of the Turkish Commercial Code concerning the duties and authorities of the board members but, does not contain detailed information. |
| 4.2.3 - The board of directors has formed an internal control system suitable for the size and complexity of the activities of the company. |
X | The company's sales, procurement, invoicing, goods acceptance and the energy consumptions of all the business units are subject to cross check by the accounting and financial affairs departments. This data from the accounting department is reviewed in a detailed manner during a part of each board meeting, for which sufficient period of time is allocated and, each board member is able to query and audit all the sales, procurements and productions. |
||
|---|---|---|---|---|
| 4.2.4 - The annual report contains the information about the functions and efficiency of the internal control system. |
X | |||
| 4.2.5 - The duties of the chairman and CEO (general manager) have been separated from one another and defined accordingly. |
X | |||
| 4.2.7 - The board of directors ensures that the investor relations department and the corporate governance committee efficiently operate and, has functioned in a close relationship with the investor relations department and the corporate governance committee in respect of the settlement of the disputes between the company and the shareholders and, connection with the shareholders. |
X | |||
| 4.2.8 - A management responsibility insurance has been taken in an |
There is no executive liability insurance. |
| amount that exceeds 25% | X | |
|---|---|---|
| of the company capital in | ||
| respect of the faults during | ||
| the performance of their | ||
| duties and, the losses |
||
| caused thereby to the |
||
| company. |
| Compliance Status | ||||||
|---|---|---|---|---|---|---|
| Yes | Partially | No | Exempted | N/A | Disclosure | |
| 4.3. STRUCTURE OF THE BOARD OF DIRECTORS |
||||||
| 4.3.9- A target for the percentage of the female board members has been set as 25% at minimum and, a policy has been crated to attain this target. The board of directors' structure is reviewed on an annual basis and, the process of nominations takes place in accordance with this policy. |
x | A percentage of 25% at minimum for the female board members has been considered. The percentage of the female board members in the company is 33%. However, there is no policy concerning the target of 25% at minimum for the female board members in the company. |
||||
| 4.3.10 - At least one of the committee members in charge of audit has experience of 5 years in the field of audit/accounting and financing. |
X | |||||
| 4.4. FORM OF THE BOARD MEETINGS |
||||||
| 4.4.1 - All the board members have physically or electronically attended most of the board meetings. |
X | |||||
| 4.4.2 - The board of directors has defined a minimum period of time in which all the information and documents concerning the agenda items need to be sent to all the shareholders before the meeting. |
X | |||||
| 4.4.3 - The opinions of the board members not attending the meeting but informing the board of directors of their opinions have been submitted to the other board members. |
X | |||||
| 4.4.4 - Each board member has one vote in the board of directors. |
X |
| 4.4.5 - Internal regulations have been created concerning how the board meetings are to be held. |
X | |||
|---|---|---|---|---|
| 4.4.6 -The minutes of the board meetings indicate that all the agenda items have been discussed and, are prepared in a way to include the opposite opinions. |
X | |||
| 4.4.7 - There is a restriction on the board members precluding them to take offices outside the company. The information on the offices taken by the board members outside the company has been submitted to the shareholders during the general meeting. |
X | There is no restriction on the board members precluding them to take offices outside the company considering that it would be beneficial to the company. There is no restriction. The shareholders have been informed during the general meeting through the annual report. |
| Compliance Status | |||||||
|---|---|---|---|---|---|---|---|
| Yes | Partially | No | Exempted | N/A | Disclosure | ||
| 4.5. COMMITTEES FORMED WITHIN THE BOARD OF DIRECTORS |
|||||||
| 4.5.5 - Each board member takes place in only one committee. |
x | Considering the number of existing members in line with the pertinent provisions of the applicable regulations on the form of committees, there is a necessity that a member of the Board of Directors needs to be in more than one committee and, it has been observed that this does not cause any setback, non compliance and/or conflict of interest concerning the operations of the committees. The committee memberships are reviewed every year depending on the number of the board members and the structure of the board. |
|||||
| 4.5.6- The committees have invited such persons to their meetings to obtain their opinions and, obtained their opinions accordingly. |
X | ||||||
| 4.5.7 - The annual report contains the information on the dependence of the persons/corporations from which the committee receives consultancy services. |
X | The committees have not received any consultancy service. |
|||||
| 4.5.8 - A report has been issued concerning the consequences of the committee meetings and submitted to the board members. |
X |
4.6. FINANCIAL RIGHTS GRANTED TO THE BOARD MEMBERS AND EXECUTIVES WITH ADMINISTRATIVE RESPONSIBILITIES
| 4.6.1 - The board of directors has carried out a performance assessment on the board in order to evaluate if it has efficiently fulfilled its responsibilities. |
X | No performance assessment takes place on the board of directors. |
|||
|---|---|---|---|---|---|
| 4.6.4 - The company has not made available any loan or lent to a board member or an executive with administrative responsibilities, not extended the period for the repayment of a debt, not improved the respective terms, not made available any loan as an individual loan through third persons or not given any security in their favor. |
X | ||||
| 4.6.5 - Remunerations given to each board member and executive with administrative responsibilities have been explained on the annual report. |
X | The sum of the benefits made available to the Board of Directors and the senior executive is collectively reported in the financial report. The Remuneration Policy submitted to the General Assembly for information is made available on the corporate website. It is not planned to disclose the remunerations given to each executive with administrative responsibilities pursuant to the Personal Data Protection Law No. 6698. |
| 1. SHAREHOLDERS | |
|---|---|
| 1.1. Facilitation of Use of the Rights of the Shareholders |
|
| Number of the investor conferences and meetings organized by the meeting during the year |
0 |
| 1.2. Right to Demand and Review Information | |
| Number of special requests from auditors | 0 |
| Number of special requests from auditors that have been accepted at the general meeting |
0 |
| 1.3. General Meeting | |
| Link of the PDP announcement, through which the information requested under the scope of the Principle No. 1.3.1 (a-d) is disclosed |
https://www.kap.org.tr/tr/Bildirim/1004419 |
| Whether the documents concerning the general meeting are presented in English concurrently with the Turkish version. |
Documents concerning the general assembly meeting have not been presented in English. |
| Links of the PDP announcements concerning the businesses, for which there has been no majority of the independent directors or no unanimity voting of the attending directors, under the scope of the Principle No. 1.3.9 |
No transaction has been carried out within the scope of the Principle 1.3.9. |
| Links of the PDP announcements concerning the related party businesses carried out under the scope of the article 9 of the Corporate Governance Communique (II-17.1) |
There has been no such business under the scope of the article 9. |
| Links of the PDP announcements concerning the common and continuous businesses carried out under the scope of the article 10 of the Corporate Governance Communique (II-17.1) |
There has been no such business under the scope of the article 10. |
| Name of the section of the corporate website of the company, where the policy concerning donations and aids is made available |
On the corporate website of the company www.alkim.com: Investors / Corporate Governance / Donation and Aid Policy |
| Link of the PDP announcement, where the minutes of the general meeting, during which the policy concerning donations and aids had been approved, are available |
https://www.kap.org.tr/tr/Bildirim/1013495 |
| Number of the article of the articles of association that regulates the attendance of the stakeholders to the general meeting |
Not applicable. |
| Information on the stakeholders attending the general meeting |
The company's employees and representatives are allowed to attend the General Assembly Meeting. |
| 1.4. Voting Rights | |
|---|---|
| Whether there is any privilege concerning the voting right |
No |
| In case there is any privilege concerning the voting right, then the privileged shareholders and, the percentage of the shares they hold |
Whereas, the shares of the Groups A, B, C and D were entitled to 100 votes per share as per the Articles of Association during the incorporation of the Company, and the Turkish Commercial Code No. 6102, the article 479(2) "Privileges regarding the Voting Right" provides that each share may be entitled to fifteen votes at maximum and, this restriction would not be applied if it was provided that there was a justified reason or due to such reasons that require institutionalization. |
| Accordingly, a legal action initiated before the Commercial Court of First Instance located where the registered office is situated for establishing a provisional injunction to be excluded from the said restriction has been refused and, the decision thereof has been approved before the Court of Cassation. Therefore, the respective provisions of the article 479 (2) of the Turkish Commercial Code have applied to the Group "A", "B", "C" and "D" shares. 1 vote cast for 1 share in any type of the shares during the General Assembly Meetings of the Company. |
|
| Percentage of the shareholding held by the majority shareholder |
17.00% |
| 1.5. Minority Rights | |
| Whether the minority rights have been expanded (in terms of content or extent) in the articles of association of the company |
No |
| In case the minority rights have been expanded in terms of the content and extent, please indicate the number of the respective article of the articles of association. |
Not applicable. |
| 1.6. Entitlement to Dividends | |
| Name of the section of the corporate website, where the dividend policy is made available |
On the corporate website of the company www.alkim.com: Investors / Corporate Governance / Dividend Policy |
| In case there is a proposal submitted by the board of directors to the general meeting for the non distribution of dividend, then please provide the text of the minutes pertaining to the general meeting agenda indicating the reasons thereof and how the profit not distributed is to be used |
There has been no proposal submitted by the board of directors for non-distribution of dividend. |
In case of a proposal submitted by the board of directors to the general meeting for non-distribution of dividend, then please indicate the link of the PDP announcement, through which the respective minutes of the general meeting are disclosed Not applicable.
| General | Number of | Percentage of | Percentage | Percentage | Name of the | Name of the | Number of |
Number of |
Link of the |
|---|---|---|---|---|---|---|---|---|---|
| Meeting Date | the | the | of the shares | of the shares | section of the | section of the | the | persons who | general |
| requests | shareholders | represented | represented | corporate | corporate | respective | make notice | meeting notice | |
| for additional |
attendance to the general |
in person | by proxy | website of the company, |
website, where all the |
article or paragraph of |
to the board of directors |
published on the PDP |
|
| disclosure | meeting | where the |
questions | the general |
and who |
||||
| submitted | minutes of the | asked during | meeting | have a |
|||||
| to the |
general | the general |
minutes | privileged | |||||
| company | meeting also |
meeting and |
concerning | access to the | |||||
| concernin | indicating the | the answers |
related | shareholding | |||||
| g the |
positive and |
thereto are |
parties | information | |||||
| general | negative votes | made | (list of |
||||||
| meeting agendas |
for each agenda item |
available | insiders) | ||||||
| are made |
|||||||||
| available | |||||||||
| Investors / |
Investors / |
||||||||
| Corporate | Corporate | https://www. | |||||||
| Identity / |
Identity / |
kap.org.tr/tr/ | |||||||
| 25.04.2024 | 0 | 49.84% | 31.97% | 17.87% | General | General | None | 33 | Bildirim/127 |
| Meetings / |
Meetings / |
7118 | |||||||
| General | General | ||||||||
| Meeting | Meeting | ||||||||
| Minutes | Minutes | ||||||||
| Names of the sections of the corporate website, where the information as requested by the corporate governance principle no. 2.1.1 is made available |
On the corporate website of the company www.alkim.com; Investors / Corporate Identity, Corporate Governance, Financial Reports and Periodic Financial Statements, Material Event Disclosures, Share Certificates and Investor Info, Press Releases and Presentations, Information Society Services |
|---|---|
| Section of the corporate website, where the list of the real persons who directly or indirectly hold more than 5% of the shares is made available |
On the corporate website of the company www.alkim.com: Investors / Corporate Identity / Shareholding Structure |
| Languages in which the corporate website is prepared |
Turkish - English |
| 2.2. Annual Report | |
| Number of the pages or the names of the sections of the annual report, where the information as mentioned corporate governance principle no. 2.2.2 is made available |
|
| a) Number of the pages or the names of the sections, where the information on the duties carried out by the board members and executives outside the company and the declarations of independence of the board members are made available |
Annual Report / Information on Corporate Governance / Section 5 Board of Directors |
| b) Number of the pages or the names of the sections, where the information on the committees formed within the board of directors is made available |
Annual Report / Information on Corporate Governance / Section 5 Board of Directors / Section 5.5 Committees Formed within the Board of Directors |
| c) Number of the pages or the names of the sections, where the information on the number of the meetings held within the year and, the attendance of the board members to the meetings is made available |
Annual Report / Information on Corporate Governance / Section 5 Board of Directors / Section 5.4. Forms of the Meetings of the Board of Directors |
| ç) Number of the pages or the names of the sections, where the information on legislation changes that may significantly affect the business operations of the company is made available |
Annual Report / Section 9 Other Issues |
| d) Number of the pages or the names of the sections, where the information on significant legal cases initiated against the company and possible consequences thereof is made available |
Annual Report / Section 9 Other Issues |
e) Number of the pages or the names of the sections, where the information on conflict of interests between the company and corporations, from which it receives services such as investment consultancy and rating, and the measures taken to avoid such conflicts, is made available Annual Report / Section 9 Other Issues
| f) Number of the pages or the names of the sections, where the information on the affiliates, in which the direct participation rate exceeds 5%, is made available |
Not applicable. |
|---|---|
| Number of the pages or the names of the sections, where the information on the employees' social rights, professional training and other company activities with a consequence on the society and environment, is made available |
Annual Report / Information on Corporate Governance / Section 4 Stakeholders |
| 3. STAKEHOLDERS | |
|---|---|
| 3.1. Company Policy Concerning Stakeholders | |
| Name of the section of the corporate website, where the compensation policy is made available |
On the corporate website of the company www.alkim.com: Investors / Corporate Governance / Code of Conducts / Compensation Policy |
| Number of the finalized court decisions against the company due to breach of the employees' rights |
0 |
| Title of the authorized person concerning whistleblowing mechanism |
Ali Murat Özçelik |
| Contact Information concerning how to access the whistleblowing mechanism |
[email protected] |
| 3.2. Supporting the Participation of the Stakeholders in the Management of the Company |
|
| Name of the section of the corporate website, where the internal regulations concerning the participation of the employees to the management are made available |
Not applicable. |
| Managing bodies, where the employees are represented |
Occupational Health and Safety Board |
| 3.3. Company's Human Resources Policy | |
| Role of the board of directors in the development of a succession plan for the key management positions |
Decision making and planning |
| Name of the section of the corporate website, where the human resources policy containing the criteria on the equal opportunities and personnel hiring or the summary of the respective articles of the policy |
On the corporate website of the company www.alkim.com: Investors / Corporate Governance / Code of Conducts |
| Whether there is an employee stock ownership program |
There isn't an employee stock ownership program. |
| Name of the section of the corporate website, where the human resources policy containing the measures taken to prevent discrimination and maltreatment or the summary of the respective articles of the policy |
On the corporate website of the company www.alkim.com: Investors / Corporate Governance / Code of Conducts / Human Resources Development Policy |
| Number of the finalized court decisions against the company due to the responsibility for occupational accidents |
0 |
| 3.5. Codes of Conduct and Social Responsibility |
|
| Name of the section of the corporate website, where the code of conducts is made available |
On the corporate website of the company www.alkim.com: Investors / Corporate Governance / Code of Conducts |
| Name of the section of the corporate website, where the corporate social responsibility report is made available. In case there is no corporate social responsibility report, then please indicate the measures taken in environmental, social and corporate management aspects |
On the corporate website of the company www.alkim.com; Responsibilities/ Social Responsibility - Environmental Responsibility - Occupational Health and Safety - Ethical Responsibility |
|---|---|
| Measures taken to fight all types of corruptions including extortion and bribery |
Attentive to public decency rules. All the employees carry out their duties in a transparent, accountable and responsible manner. Relationships between the employees are based on the concept of mutual respect, trust and cooperation. All the employees assume their respective responsibilities in order to protect and improve the respectful image of the company and the name "ALKİM". The employees may not use the confidential and non-public information about the company for their own benefit or the benefit of others On the corporate website of the company www.alkim.com: Investors / Corporate Governance / The Anti-Bribe and Anti-Corruption Policy |
| 4. BOARD OF DIRECTORS-I | |
|---|---|
| 4.2. The Board of Directors' Principles of Operation |
|
| When the most recent performance assessment of the board of directors was made |
Not applicable. |
| Whether independent specialists are made use of during the performance assessment of the board of directors |
No |
| Whether all the members of the board of directors are released |
Yes |
| Name of the board members, to whom authority is transferred during the duty distribution and, the content of such authorities |
There has been no authority transfer. |
| Number of the reports submitted by the internal control department to the audit board or other respective committees |
0 |
| Number of the page or the name of the section of the annual report, where an assessment concerning the efficiency of the internal control system is made available |
Annual Report / Section 5 Information on Sales and Marketing Activities |
| Name of the chairman of the board of directors | Mehmet Reha Kora |
| Name of the CEO/ General Manager | Selçuk Denizligil |
| Link of the PDP announcement that indicates the reason why the chairman of the board of directors and CEO/General Manager is the same person |
The chairman of the Board of Directors and the General Manager are different persons. |
| Link of the PDP announcement indicating that the losses that may be caused in the company by the faults of the board members during the performance of their duties are insured for an amount that exceeds 25% of the company's capital |
None. |
| Name of the section of the corporate website, where the information on the diversity policy intended to increase the percentage of the female board members is made available |
None. |
| Number and percentage of the female board members |
There are 3 female board members corresponding to 33%. |
| Name/Surname of the Board Member |
Executive or Non-Executive |
Independent Director or Nor |
Date of Appointment to the Board for the First Time |
Link of the PDP Announcement Indicating Declaration of Independence |
Whether the Independent Director Has been Assessed by the Nomination Committee |
Whether There Are Any Member Who Lost Their Independence |
Whether They Have an Experience of at least 5 Years in Auditing, Accounting and/or Financing |
|---|---|---|---|---|---|---|---|
| Mehmet Reha Kora |
Executive | Not an Independent Member |
14.05.1991 | Not assessed | No | Yes | |
| Adem Haluk Kora |
Non-executive | Not an Independent Member |
14.05.1991 | Not assessed | No | Yes | |
| Arkın Kora | Non-executive | Not an Independent Member |
14.05.1991 | Not assessed | No | Yes | |
| Ferit Kora | Non-executive | Not an Independent Member |
14.05.1991 | Not assessed | No | Yes | |
| Tülay Kora | Non-executive | Not an Independent Member |
7.04.2006 | Not assessed | No | Yes | |
| Özay Kora | Non-executive | Not an Independent Member |
8.04.2015 | Not assessed | No | Yes | |
| Azade Başağa | Non-executive | Not an Independent Member |
31.01.2023 | https://www.kap.org. tr/tr/Bildirim/1263497 |
Assessed | No | Yes |
| Aydın Orhan | Non-executive | Independent Member | 20.10.2023 | https://www.kap.or g.tr/tr/Bildirim/1263 497 |
Assessed | No | Yes |
| Özgür Mungan | Non-executive | Independent Member | 25.04.2024 | https://www.kap.or g.tr/tr/Bildirim/1263 497 |
Assessed | No | Yes |
| 4. BOARD OF DIRECTORS-II | |
|---|---|
| 4.4. Form of the Board Meetings | |
| Number of the board meetings held physically during the report period |
16 |
| Average ratio of the attendance to the board meetings |
80% |
| Whether there is an electronic platform to facilitate the operations of the board of directors |
No |
| As per the operation principles of the board of directors, how many days before the meeting are necessary information and documents are submitted to the board members |
All information and documents relating to the agenda items to be discussed during the board meeting are submitted to the board members for review at least 10 calendar days before the meeting by means of establishing an equal information flow. |
| Name of the section of the corporate website, where the information on the internal regulations identifying how the board meetings are to be held is made available |
There are internal regulations, through which how the board meetings are to be held is identified, which are made available on the corporate website. There is no section within the Articles of Association concerning this issue. |
| The upper limit as set forth under the policy that restricts the freedom of the board members to take offices outside the company |
There is no restriction on taking office outside the company due to the business experience of the board members greatly contributing to the board of directors. |
| 4.5. Committees Formed within the Board of Directors |
|
| Number of the page or the name of the section of the annual report, where the information on the board of directors committees is made available |
Annual Report / Information on Corporate Governance / Section 5 Board of Directors / 5.5 Committees Formed within the Board of Directors |
| Link of the PDP announcement, through which the committee operation principles are disclosed |
https://www.kap.org.tr/tr/Bildirim/431899 |
| Names of the Board of Directors Committees |
Name of the Committee Indicated as "Other" in the First Column |
Name-Surname of the Committee Members |
Whether He/ She is the Committee Chairman |
Whether He/ She is a Board Member |
|---|---|---|---|---|
| Corporate Governance Committee | Aydın Orhan | Yes | Member of the Board of Directors | |
| Corporate Governance Committee | Adem Haluk Kora | No | Member of the Board of Directors | |
| Corporate Governance Committee | Ferit Kora | No | Member of the Board of Directors | |
| Corporate Governance Committee | Azade BAŞAĞA | No | Member of the Board of Directors | |
| Corporate Governance Committee | Özgür Öge | No | Non-Board Member | |
| Audit Committee | Özgür Mungan | Yes | Member of the Board of Directors | |
| Audit Committee | Aydın Orhan | No | Member of the Board of Directors | |
| Audit Committee | M. C. Nazım Barbarosoğlu | No | Member of the Board of Directors | |
| Early Detection of Risk Committee | Aydın Orhan | Yes | Member of the Board of Directors | |
| Early Detection of Risk Committee | Tülay Kora | No | Member of the Board of Directors |
| 4. BOARD OF DIRECTORS-III | |
|---|---|
| 4.5. Committees Formed within the Board of Directors-II |
|
| Please indicate the section of the annual report or the corporate website, where the information on the activities of the audit committee is made available (page number or name of the section) |
Annual Report / Information on Corporate Governance / Section 5 Board of Directors / 5.5 Committees Formed within the Board of Directors |
| Please indicate the section of the annual report or the corporate website where the information on the activities of the corporate governance committee is made available (page number or name of the section) |
Annual Report / Information on Corporate Governance / Section 5 Board of Directors / 5.5 Committees Formed within the Board of Directors |
| Please indicate the section of the annual report or the corporate website where the information on the activities of the nomination committee is made available (page number or name of the section) |
Not applicable. |
| Please indicate the section of the annual report or the corporate website where the information on the activities of the committee of early detection of risk is made available (page number or name of the section) |
Annual Report / Information on Corporate Governance / Section 5 Board of Directors / 5.5 Committees Formed within the Board of Directors |
| Please indicate the section of the annual report or the corporate website where the information on the activities of the remuneration committee is made available (page number or name of the section) |
Not applicable. |
| 4.6. Financial Rights Granted to the Board Members and Executives with Administrative Responsibilities |
|
| Number of the page or the name of the section of the annual report, where the information on the operational and financial performance targets and whether these targets are attained is made available |
Annual Report / Section 6 Financial Position |
| Name of the section of the corporate website, where the remuneration policy concerning executive and non-executive directors is made available |
On the corporate website of the company www.alkim.com: Investors / Corporate Governance / Remuneration Policy |
| Number of the page or the name of the section of the annual report, where the remunerations and other benefits to the board members and executives with administrative responsibilities are indicated |
Annual Report / Section 2 Financial Benefits Provided to the Members of the Board of Directors and Senior Executives |
| Names of the Board of Directors Committees |
Name of the Committee Indicated as "Other" in the First Column |
Percentage of Non Executive Directors |
Percentage of the Independent Committee Members |
Number of Physical Meetings Held by the Committee |
Number of the Reports Submitted to the Board of Directors about the Committee Activities |
|---|---|---|---|---|---|
| Audit Committee | 100% | 100% | 5 | 5 | |
| Corporate Governance Committee |
83.33% | 50% | 3 | 3 | |
| Early Detection of Risk Committee |
100% | 50% | 6 | 6 |
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