Eylül 20, 2019

EXECUTIVE PRESIDENT OF ALDAG A.S.’S ECONOMIC PROSPECTS OF 2019

NEWS – The Executive President of Aldağ A.S. Rebii Dagoglu told about his economic prospects from 2019. Dagoglu said, “Despite all the challenges of 2019, we cannot stop, slow down or hesitate.”

In 2019, there is a recession risk for the World economy, not only for Turkey. The IMF reduced the estimated percentage of the world’s economic growth from 3.7 percent to 3.5 percent for 2019.

Especially in the second half of 2018, significant economic shrinkage monitored in Turkey’s economy. The Executive Presindent of Aldağ A.S., one of the most strong HVAC-R companies in Turkey, told about his economic prospects from 2019.

Dagoglu stated the most important factor that will determine the exchange rate levels in 2019 will be the government’s adherence to the financial discipline, the amount of direct investments and portfolio investments to the country’s economy from abroad.

“In addition, exports and tourism incomes should be closely monitored. Public expenditures will also play an important role in determining of the exchange rate” he stated.

Saying the incomes the from reconstruction peace and military service by payment strenghtened the government’s hand to boost the market, “The military activities in Syria and the elections in March will be decisive in the terms of the course of economy” he stated.

ALDAG A.S.’s economic prospects in 2019

Also speaking about the expectations of ALDAG A.S. in 2019, Dagoglu said that their strong capital structure is an advantage for the existing crisis and they will continue using all their opportunities to secure themselves against a possible exchange rate crisis:

In the past three-year period, even though the Turkish HVAC-R sector has seen a significant shrinking in the central system market, ALDAG A.S. increased it’s revenues by multiplying and the affects of this shrinkings has remained limited for the company. In this period, the companies has loooked for strong business partners, I can easily say that ALDAG A.S. has a serious comparative advantage.

The building of our production facility in Manisa Akhisar which started operations in the last quarter of 2018, will be officially established in 2019. In addition to increasing the total productivity, this factory will provide significant reductions in input costs with new production techniques.

Starting from 2019, Aldag A.S. skimped some of it’s expense items like plenty of companies in Turkey, but still there will be more spending on the R & D activities what will enable the company to produce high value added products.

At the same time the financial support that company provides on many issues such as energy efficiency, environmental policies, women’s participation in labor and employee training to NGO’s will remain.

I hope that 2019 will be a year of significant gains for our country and the whole sector. I believe that there will be no difficulties faced if Turkish people support each other in unity and solidarity that we cannot overcome.

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