Board/Management Information • May 12, 2025
Board/Management Information
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| Company Name | : Sarkuysan Elektrolitik Bakır Sanayi ve Ticaret A.Ş. | ||
|---|---|---|---|
| Founded on | : 03.05.1972 |
||
| Upper Limit of the Registered Capital: 2,000,000,000.-TL |
|||
| Issued Capital | : 600,000,000.-TL |
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| Trade Registry Number | : 13898 | ||
| Mersis No | : 0751001576100014 | ||
| Commercially Registered to | : Gebze Commercial Registry Office | ||
| Address | : Emek Mahallesi Aşıroğlu Caddesi No: 147 | ||
| 41700 Darıca / KOCAELI | |||
| Phone Number | : (0 262) 676 66 00 (20 lines) | ||
| Fax Number | : (0 262) 676 66 80 |
||
| (0 262) 676 66 81 | |||
| (0 262) 676 66 83 | |||
| : [email protected] |
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| Website | : www.sarkuysan.com |
| Name-Surname | Position | Date of Election |
|---|---|---|
| Hayrettin ÇAYCI | Chair | 07.04.2023 |
| Hamit MÜCELLİT | Acting Chair | 07.04.2023 |
| A. Hamdi BEKTAŞ | Member of the Board | 07.04.2023 |
| Cenap TASKIN | Member of the Board | 07.04.2023 |
| Turgay SOHOGLU | Member of the Board | 07.04.2023 |
| Bekir MENETLİOĞLU | Member of the Board | 07.04.2023 |
| Fatma Burcu CESUR | Member of the Board | 07.04.2023 |
| Diana Manuş URUN | Member of the Board | 07.04.2023 |
| İpek ÖZCAN | Member of the Board | 07.04.2023 |
| Virma SÖKMEN | Independent Member of the Board | 18.04.2025 |
| İlfeta AKSOY | Independent Member of the Board | 18.04.2025 |
| Mehmet Ali YILDIRIMTÜRK | Independent Member of the Board | 18.04.2025 |
| Mehmet Nazmi ERTEN | Independent Member of the Board | 18.04.2025 |
| Fatma Zeynep KUMAN | Independent Member of the Board | 18.04.2025 |
Members of the Board: Members of the Board were determined pursuant to the Turkish Commercial Code, the Capital Market Board Regulations, and the Company's Articles of Association.
Independent Members of the Board: Independent Members of the Board were determined pursuant to the Capital Market Board Regulations and the Company's Articles of Association.
Terms of Duties: In accordance with the decision taken in the Ordinary General Assembly meeting dated 07.04.2023, the term of duty for the members of the Board is 3 (three) years and in accordance with the decision taken in the Ordinary General Assembly meeting dated 18.04.2025, the term of duty for the Independent Members of the Board is 1 (one) year.
| Sevgür ARSLANPAY | Managing Director & CEO – Chemical Engineer |
|
|---|---|---|
| Ümit ULUÇAM | Vice President (Financial) – Business Administrator |
|
| Metin YARAŞ | Vice President (Commercial) – Public Administrator |
|
| Tolga EDİZ | Vice President – Metallurgical Engineer, MSc. |
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| Sabri ATİLLA | Administrative Affairs Manager – Administrator (Trainer) |
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| Canan ÇAKIROĞLU | Quality Assurance Manager – Physics Engineer, MSc. |
|
| Çağatay ÇAPAL | Enameled Wire Production Manager – Electronics Engineer |
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| Şefiye DURMAZ YAYLA | Commercial Accounting Manager – Business Administrator (CAFA) |
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| Murat DEMİR | End Products Unit 1 – Mechanical Engineer |
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| Ramazan Barış DOĞAN | End Products Unit 2 – Metallurgical Engineer |
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| Buket ERGÜL | Human Resources Manager – Business Administrator |
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| Cengiz GÜLER | Import Operations Manager – Business Administrator |
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| Faruk Şekip KARŞANBAŞ | Industrial Automation and Maintenance Manager – Electronic Engineer, MSc. |
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| Meryem KAYA | Export Operations Manager – Business Administrator |
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| Levent Ş. KULAÇ | Procurement Manager – Metallurgical Engineer, MSc |
|
| Elif ÖZER ÇİÇEK | Import Manager – Industrial Engineer |
|
| Serkan ÖZGEN | Domestic Sales Manager – Business Administrator |
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| S. Sinan SELVİ | Director of the Continuous Casting – Metallurgical Engineer, M.Sc. |
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| Yaşar SÖNMEZ | Constructions Manager – Civil Engineer |
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| Filiz TEKİN SALMANLI | IT Systems Manager – Industrial Engineer |
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| Mete TARHAN | Tube Plant Manager – Mechanical Engineer |
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| Ferhan TURNAGİL | Cost Accounting Manager – Business Administrator (CAFA) |
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| Ercan USER | Domestic Marketing Manager – Marketing Expert |
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| İ. Deniz UZGAN | Financing and Risk Management Manager – Economist |
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| M. Mahir YILDIZ | International Marketing Manager – Foreign Trade Expert (Mathematician) |
This report herein covers the period of 01.01.2025 – 31.03.2025. During this period, important developments related to the Company were disclosed on the Public Disclosure Platform (PDP) as well as to investors through our website.
The ordinary general assembly meeting regarding our activities in 2024 was held at 2.30 PM on 18.04.2025 at the Company headquarters located at Emek Mahallesi Aşiroğlu Caddesi No.147 Darıca / KOCAELI.
The meeting held on the aforementioned date was participated by a total of 40,294,487,688 shares which corresponds to 67.16% of our capital, out of which 13,562,552,053 shares attended in person, 26,731,935,635 shares attended by proxy, out of 60,000,000,000 shares belonging to our issued capital of 600,000,000,- TL.
As a result of the election held in our General Assembly dated 18.04.2025, Mr. Mehmet Nazmi ERTEN, Ms. Virma SÖKMEN, Ms. Ilfeta AKSOY, Mr. Mehmet Ali YILDIRIMTÜRK and Ms. Fatma Zeynep KUMAN were elected as independent members of the board to serve for 1 year.
While the closing price of the share in Borsa Istanbul was 25.04 on 31.03.2024, the price of the share was 20.56 on 31.03.2025.
In Article 9 of our company's ordinary general assembly meeting held on 31.05.2024; Regarding increasing the registered capital ceiling of the company under the Articles of Association of the Company -Article 6 titled "Capital"- to 2,000,000,000.- TL and the new authorization period (2024-2028); the amendment for the Article 6 of the Articles of Association titled "Capital" was accepted by our General Assembly in accordance with the decision of our Board of Directors dated 24.04.2024 with reference number 1714/24.11, the approval of the Capital Markets Board dated 22.05.2024 with reference number E-29833736-110.04.04-54319 and the permission of the Ministry of Trade dated 29.05.2024 with reference number E-50035491-431.02- 00097312833. Our Articles of Association was registered on 06.06.2024 and announced in the Turkish Trade Registry Gazette dated 06.06.2024 and numbered 11098.
The issued capital of 500,000,000.-TL of the Company within the registered capital ceiling of 2,000,000,000.-TL, was increased by 20%, which corresponds to 100,000,000.-TL, to 600,000,000.-TL as part of article 6 of our Company's Articles of Association in line with the Dividend Distribution resolution made at the Ordinary General Assembly Meeting of our
Company held on 31.05.2024. The related process was completed on 19.08.2024 and announced in the Turkish Trade Registry Gazette dated 21.08.2024 and numbered 11148.
100% of our capital is open to the public and the latest status of our capital structure is presented in the following table.
| Type of Share Certificate |
Paid-in Capital TRY |
Number of Shares | The Portion of Shares in the Capital % |
|---|---|---|---|
| Group A Registered Shares |
30.00 | 3,000 | 0.000005 |
| Group B Bearer Shares |
599,999,970.00 | 59,999,997,000 | 99.999995 |
| Total | 600,000,000.00 | 60,000,000,000 | 100.00000 |
As of 31.03.2025, the shares of our members of the Board in the Company's capital are as follows; Mr. Hayrettin ÇAYCI has 9.62%, Mr. A. Hamdi BEKTAŞ has 3.00%, Mr. Turgay ŞOHOĞLU has 1.30%, Mr. Bekir MENETLİOĞLU has 0.54%, Mr. Cenap TAŞKIN has 2.44% and Ms. Diana Manuş URUN has 3.96%. The shares of other members of the board are less than the aforementioned shares. Mr. Şükrü KİLİMCİ and Mr. İbrahim KİLİMCİ hold the highest number of shares of the company with 7.52% and 5.80% of our capital, respectively.
The percentage of shares of the company in actual circulation is 81.67% on 31.03.2025.
The factory of Demisaş A.Ş., which is founded in 1974, is in Bilecik. The casting plants, cupola furnaces and induction furnaces are used for melting and the production takes place in 3 automatic casting lines. There is also a "Machining Workshop" for processing and selling pig and nodular cast iron parts which are produced in the plant. It manufactures compressor parts with hermetic pistons , components for spiral lobe compressors for the white goods sector; brake discs (nodular cast and grey cast iron), airbrake discs, brake drums, flywheels, exhaust manifolds, pulleys, brake cylinders, various brackets and parts, brake safety parts for automotive sector; pump housings for the water system sector;, compressor housings and brake safety parts for the heavy vehicle sector, rail junction parts for the railway sector and scaffolding connectors for the
construction sector. Annual production capacity is 80,000 tons. As of 31.03.2025, approximately 30% of the production output is exported particularly to the Western European countries. Stocks of our affiliate are listed on Borsa Istanbul. The registered equity ceiling is 400,000,000.- TL and its paid-up capital is 200,000,000.- TL. Our shareholding in Demisaş is 44.44%.
Founded in 1991, Sarmakina successfully provides service to domestic and international markets, particularly in; Wire drawing, Bunching, Coil winder and Tin plating lines, Pay-offs, Rewinding Machines, Spooler, Various Emulsion Systems, Band Filters, Steel Reels, Reel Equipment for Wire Cable sectors, as well as Copper, Al Flexible and Solid Busbar and Insulated Conductors used in Electro-mechanic industry (Kraft, Satin, Dennison, Mylar, Mica, Nomex, etc. are used as insulation materials) for the energy sector. Busbar solutions include flexible connection busbar, welded solid busbar, macaron insulated tin/silver coated profiles, pipes, and rods as well as tailor-made busbar processed and produced in line with the requirements of the customers. The capital of Sarmakina A.Ş. is 200,000,000.-TL, of which our share is 99%.
Established in 1979 in Istanbul, Sarda A.Ş. carries out some of the promotion and marketing operations for our products. It also imports, exports, and distributes the products that are within its field of activity. The capital of Sarda A.Ş. is 100,000,000.- TL, in which our share is 99.97%.
Our company and Sarda A.Ş. have shareholdings of 70.71% and 29.13%, respectively, in the company, which ceased its operations in 2003 with a capital of 5,500,000.- TL.
The Company was founded to conduct a portion of the promotion and marketing activities for the products of Türkiye's leading enameled winding wire producers, Bemka A.Ş., which was founded in 2002. Our Company merged with Bemka A.Ş. as of 22.12.2016. Bemka Kupferlackdraht GMBH with an equity of 500,000 EURO has an affiliated partnership of 99.90% with our company.
Sark Wire Corp., which was established in 2008 and has been operating in Albany, New York, the USA, since 15.12.2009, produces electrolytic copper wire and other electrolytic copper wire products with high added value at its factory equipped with the latest technology machinery and equipment. An additional factory was established in Georgia to reduce transport costs and deliver products to customers more quickly.
The merger of Sark-Wire, which operates in the USA and of which we own 60% of its capital, and Sark-USA, of which we own 100% of its capital under Sark-Wire was decided by the boards of directors of the companies. The legal procedures in the USA were completed regarding the merger and the merger was certified on 15.05.2019. Following the merger, Sarkuysan A.Ş. has 73.34% of Sark Wire Corp; while Sarmakina A.Ş. and Bektaş A.Ş. have 14.54% and 12.12% of the company shares, respectively.
Sark Bulgaria AD. was established on 10.06.2016 in Shumen, Bulgaria, to be able to benefit from the advantages offered by the European Union in exportation and expand the activities of the company. Our company has 90% share and Sarmakina A.Ş. has 10% share in Sark Bulgaria AD., which has a registered capital of 12,000,000 Leva. The investment process of the Company was completed, and the production period has been initiated.
We hold 42.50% of the shares in the CRW Metal Sanayi ve Ticaret A.Ş., which was established to operate in any and all kinds of metal production, marketing and retail activities, with a capital of 300,000,000 TL, in order to evaluate the opportunities that may arise in the near future and to establish collaborations and carry out investments in relevant sectors.
The Sark Wire Corporation, established in New York and Georgia states of the USA, of which 73,34% is owned by our Company, produces in accordance with the requirements of the ISO 9001 Quality Management System Certificate it possesses with high quality products with growing product variety, competitive prices, short delivery terms and a focus on customer satisfaction in the North American market.
Sark Bulgaria AD was founded in Shumen, Bulgaria in 2016 in order to expand our Company's operations in the European Union. Serial production of Sark Bulgaria began around mid-2019. Production increases and continues.
The LME value, which determines the prices of both raw material and our products, was around 8,729.00 \$/ton on 31.03.2024 and increased by 10.82% to 9,673.00 \$/ton on 31.03.2025. The average value of copper in March 2025 in the London Metal Exchange (LME) was 9,340.38 \$/tons. The policy of using the required financial hedging instruments in both raw material purchases and product sales was followed against the possible price fluctuations thanks to the experience of previous experiences and knowledge.
Our total sales reached 15,296,552,097 TL in this quarter of 2025. In the same period, we achieved export figures of USD 78,863,113; EUR 128,911,619; and GBP 5,440,805. Our Company, which participates in various fairs and exhibitions every year to promote its products in domestic and foreign markets, participated in the following fairs in this quarter of 2025.
March 25-26, 2025 – COILTECH – Augsburg/GERMANY
As of 31.03.2025, the number of personnel of our Company, including our representative in Italy, is 1,287. 510 employees are white-collar, and 777 employees are blue-collar.
As of 31.03.2025, our Company's severance pay liability is 262,351,836.- TL; and the provision for this liability is reserved.
Our personnel regularly benefit from the social rights arising from the law, collective agreements, and personnel regulations. Various social activities are organized for the motivation of our personnel.
| Donations and Grants of the Company (TL) | AMOUNT (TL) | |
|---|---|---|
| GRANTS TO MUNICIPALITIES | 675,000 | |
| SCHOLARSHIP | 108,000 | |
| GEBZE KOCAELI SOCIAL SECURITY DIRECTORATE | 52,713 | |
| DONATION TO TÜRK GERİATRİ VAKFI (TURKISH GERIATRICS FOUNDATION) |
25,000 | |
| ALTI NOKTA KÖRLER DERNEĞİ (SIX POINTS ASSOCIATION FOR BLINDS) |
16,000 | |
| TÜRK EĞİTİM VAKFI (TURKISH EDUCATION FOUNDATION) | 10,100 | |
| SECURITY FORCES DISABILITY ON ACTIVE DUTY AND DONATION | 10,000 | |
| TOTAL | 896,813 |
| 31.03.2025 | 31.12.2024 | |
|---|---|---|
| Liquidity Ratios | ||
| Current Ratio (Current Assets/Short Term Liabilities) | 1.41 | 1.47 |
| Acid Test Ratio (Current Assets-Inventory/Short Term Liabilities) | 0.93 | 0.91 |
| Financial Ratios | ||
| Total Liabilities/Shareholders' Equity | 1.47 | 1.22 |
| Total Liabilities/Total Assets | 0.60 | 0.55 |
| Short-term Liabilities/Total Assets | 0.52 | 0.48 |
| Shareholders' Equity/Total Assets | 0.40 | 0.45 |
| Profitability Ratios | 01.01.2025- | 01.01.2024- |
| 31.03.2025 | 31.03.2024 | |
| % | % | |
| Return on Assets (Income Before Tax/Total Assets) | 1.20 | 1.09 |
| Return on Equity (Income Before Tax/Equity) | 2.96 | 2.41 |
| Profit Margin (Income Before Tax/Net Sales) | 1.98 | 1.42 |
*Prepared according to the consolidated financial statements.
| 31.03.2025 | 31.12.2024 | |
|---|---|---|
| Guarantees / Pledges / Mortgages Assigned | Amount (TL) | Amount (TL) |
| A. Total value of GMP assigned on behalf of the Company | 4,546,490,976 | 5,349,120,708 |
| Sarkuysan A.Ş. Letter of Guarantees Given | 2,128,535,959 | 2,401,266,920 |
| Sarkuysan A.Ş. Surety Bonds Given | 2,180,000,000 | 2,746,071,850 |
| Sar Makina A.Ş. Letter of Guarantees Given | 5,455,017 | 834,343 |
| Sarda A.Ş. Letter of Guarantees Given | 232,500,000 | 200,947,595 |
| Aegean Free Trade Zone Letter of Guarantees Given | ||
| B. Total amount of the GMP assigned in favor of the corporations included under full consolidation |
195,873,292 | 199,201,309 |
| Sureties | 195,873,292 | 199,201,309 |
| Mortgages | ||
| C. Total amount of the GMP assigned for securing debts of other 3rd persons in order to carry out ordinary business operations |
||
| D. Total amount of other GMPs assigned | ||
| ii. Total amount of the GMPs assigned in favor of the other | ||
| group companies that are not included under articles B and C | ||
| iii. Total amount of the GMPs assigned in favor of 3rd persons | ||
| that are not included under article C | ||
| Total | 4,742,364,268 | 5,548,322,017 |
| Contact Details | |
|---|---|
| Headquarters | |
| Address | : Emek Mahallesi Aşıroğlu Caddesi No: 147 |
| 41700 Darıca / KOCAELI | |
| Phone | : (0 262) 676 66 00 (20 lines) |
| Fax | : (0 262) 676 66 80 |
| (0 262) 676 66 81 | |
| (0 262) 676 66 83 | |
| : [email protected] | |
| Website | : www.sarkuysan.com |
| Factory | |
| Address | : Beylikbağı Mah. Çelikoğlu Caddesi No:155 |
| 41401 Gebze / KOCAELI | |
| Phone | : (0 262) 653 26 04 (3 Lines) |
| (0 262) 653 27 52 (7 Lines) |
|
| (0 262) 653 45 07 (4 Lines) | |
| Fax | : (0 262) 653 55 12 |
| (0 262) 653 27 59 | |
| : [email protected] |
| Address | : Birlik Organize Sanayi Bölgesi Batı Cad. No: 4 34953 Tuzla / ISTANBUL |
|---|---|
| Phone | : (0 216) 593 27 27 (pbx) |
| Fax | : (0 216) 593 27 33 |
| : [email protected] | |
| Website | : www.bemkawire.com.tr |
| Address | : Beylikbağı Mah. 343 Sokak No:6 |
|---|---|
| 41401 Gebze / KOCAELI | |
| Phone | : (0 262) 653 20 20 (pbx) |
| Fax | : (0 262) 654 29 85 |
| Address | : Perpa İş Merkezi, A Blok |
|---|---|
| 7. ve 8. Kat, No: 733-735 | |
| 34350 Okmeydanı / Şişli / ISTANBUL | |
| Phone | : (0 212) 222 45 96 (2 Lines) |
| Fax | : (0 212) 221 98 77 |
| : [email protected] |
| : Ege Serbest Bölgesi Nilüfer Sok. No: 19 Gaziemir / IZMİR |
|---|
| : (0 232) 251 57 51 |
| (0 232) 258 00 26 |
| : (0 232) 251 72 78 |
| : [email protected] |
| Address | : Via Caracciolo 30 | |
|---|---|---|
| 20155 Milan / ITALY | ||
| Phone | : (0039) 0234592237 | |
| Fax | : (0039) 0234592189 | |
| : [email protected] |
| Address | : Emek Mah. Aşıroğlu Cad. No: 147 |
|---|---|
| 41700 Darıca / KOCAELI | |
| Phone | : (0 262) 677 46 00 (pbx) |
| Fax | : (0 262) 677 46 99 |
| Website | : www.demisas.com.tr |
Address : Vezirhan Beldesi, (11130) / BILECIK Phone : (0 228) 233 10 14 Fax : (0 228) 233 12 46 E-mail : [email protected]
| Address | : Osmangazi Mah. Kanuni Sok. No: 12 | |
|---|---|---|
| 41700 Darıca / KOCAELI | ||
| Phone | : (0 262) 653 90 82 (pbx) | |
| Fax | : (0 262) 653 90 89 | |
| : [email protected] | ||
| Website | : www.sarmakina.com.tr | |
| Address | : Emek Mah. Aşıroğlu Cad. No: 147 |
|---|---|
| 41700 Darıca / KOCAELI | |
| Phone | : (0 262) 654 01 21 (pbx) |
| Fax | : (0 262) 654 00 01 |
| : [email protected] | |
| Address | : Emek Mah. Aşıroğlu Cad. No: 147 | 41700 Darıca / KOCAELI |
|---|---|---|
| Phone | : (0 262) 676 66 95 | |
| Fax | : (0 262) 676 66 85 | |
| : [email protected] |
| Address | : Bernier Allee 40,D-40212 Düsseldorf |
|---|---|
| GERMANY | |
| Phone | : +49 (0) 211 8632487-0 |
| Fax | : +49 (0) 211 8632487-9 |
| : [email protected] | |
| Address | : Via Caracciolo, 30 |
|---|---|
| 20155 Milano / ITALY | |
| Phone | : +39 (02) 34592237 |
| Fax | : +39 (02) 34592189 |
| : [email protected] |
| Address | : 120 Industrial Park Road Albany, NY 12206 USA |
|---|---|
| Phone | : 001 518 453 4199 |
| Fax | : 001 518 453 4166 |
| : [email protected] | |
| Website | : www.sarkwire.com |
| Address | : Shumen 9700 Second Industrial Zone No: 1 |
|---|---|
| Phone | : 00 359 89 540 3003 |
| Fax | : 001 518 453 4166 |
| : [email protected] |
| Address | : Halil Rıfat Paşa Mah. Yüzer Havuz Sk. Perpa Ticaret Merkezi |
|---|---|
| A Blok No:1 İç Kapı No: 733 Şişli / ISTANBUL | |
| Phone | : (0 212) 222 45 96 (pbx) |
| Fax | : (0 212) 221 98 77 |
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