Message From The Board of Directors

Message From The Board of Directors

Dear Stakeholders;

We welcomed the New Year, following 2018 that we spent under the shadows of economic and political challenges. While the world economy left behind a difficult year overshadowed by global trade wars, our country - as one of the important political and economic actors in its region - was adversely influenced by the experienced unrest. However, we observed that Turkish economy made significant progresses especially in the field of exports in 2018, despite the experienced regional and global tension.

Our experiences show us that our sectors will also grow when our country grows. Hence, we have to continue to work in cooperation to grow our country, and thus foster, diversify and develop our sectors. At this point, it is of critical importance for Turkey to shift its investments to fields where she is most efficient and ensure investor trust, and closely follow up on global opportunities in order to achieve a long-term competitive force.

We continued our investments in 2018!

We may proudly say that we maintained our powerful performance in all business lines we operate and in all markets we are present as a group, despite all these compelling conditions experienced last year. While our profitability increased as a group, our employment reached almost 70,000 persons. As Limak Construction, we moved up by 17 ranks in the “Top 250 International Contractors” list published by Engineering News Record (ENR), where the largest contractors of the world are listed, and took place in the 68th rank. Our primary objective in 2019 is to maintain this performance, continue to grow in all sectors and different geographies where we are present, and contribute in the economic development of our country.

The fact that we are active in many different countries and geographies, as a business group of Turkey operating at global scale, enables us to balance the uncertainties and risks in different markets and keep our general performance at high levels. Our objective is to use this advantage effectively also in 2019, as in the previous years, to be listed among the top three in our strategic sectors regionally, which we may list as infrastructure and energy investments, cement and construction, and to grow outside of Turkey, especially in Africa and the Balkans that are recently activated with the EU perspective with fast investments.

Some of our current achievements…

We take justified pride in having served our country in 2018 with many achievements under which we have appended our signature. On October 29, 2018, we completed the first phase construction in İstanbul Airport Project that is one of the largest infrastructure investments of Turkey and the world, the contract of which we have had concluded with our partners upon being awarded the tender in 2014. İstanbul Airport, which will be included among the largest airports of the world by a passenger capacity of 200 million when all phases are completed, is being constructed at international norms, together with an airport city, with a modern and environmentalist understanding.

We completed TANAP-Trans Anatolian Natural Gas Pipeline Project Lot 4 and certain stages of Northern Marmara Motorway in 2018 and took them into operation. We continued the construction of 1915 Çanakkale Bridge and Malkara-Çanakkale Motorway Project that is one of the very important projects of our country, the tender for which was awarded to the joint venture group where our company is included, at top speed. We will complete the construction of 1915 Çanakkale Bridge, which will be the longest suspension bridge of the world with a span of 2,023 meters between abutments, in 2023 - the 100th anniversary of the establishment of our Republic.

We also continued our investments in the field of energy and took Buharkent Geothermal Power Plant in Aydın, with an installed power of 14.1MW, into operation.

Abroad, we completed the construction of Volgograd International Airport located in Volgograd that was one of the cities where the 2018 World Football Cup was organized, which we assumed with our partner with a construction area of 10 thousand square meters established over an area of 31 thousand square meters, and handed it over to the airport operator in May 2018.

We make a difference with our social investments!

We continue to make a difference also with our efforts based on social benefit, while we carry on with our economic activities. We strategically continue our social investment activities under the roof of Limak Foundation that we established in 2016 within this framework, support students who currently are and will be studying engineering from many aspects with the Engineer Girls of Turkey project that is the most important and trademark project of our Foundation, and work for the empowerment of women in business life. We aspire to attract students to science, technology and mathematics education, and primarily engineering and enable them to enjoy learning, starting from early ages, arouse interest in these fields with daily use practices while we primarily increase their awareness on global education and science; and to encourage our youth, and especially our girls to consider these fields also in their choices aimed for the future. We also exhibit a comprehensive approach with our activities in this field at elementary school level, with the “Junior Engineers of Home” project. We continue to embrace engineering education and lead in this area not only in our country, but also abroad. Within this context, we implemented the Kuwait’s Engineer Girls Project and gave our first graduates.

We opened Gülseren Özdemir Special Education Practice School, where mentally and physically handicapped students will be educated, on November 5, 2018 with the participation of our President Recep Tayyip Erdoğan and his esteemed First Lady Emine Erdoğan, and presented it to our national education system. Our school, which qualifies as the largest and most modern special education school of Turkey, has also become an exemplary school with the awards it was found worthy of even at the stage of construction.

We gave concerts in all four corners of Turkey within one year with the Limak Philharmonic Orchestra that we established in 2017, with the objective to lead in our country in the field of art as well as our activities in the field of education and build a bridge between the past and the future. We brought music lovers together with Zeki Müren, the giant name in Turkish Classical Music who accompanied us on our first music journey in Anatolia, and his unforgettable songs; and crowned this music feast with the album we released at the end of the year.

We were the first private sector entity in Turkey that supported the “SDG Impact Accelerator” (Sustainable Development Goals Impact Accelerator) project, which will be a first in the global development agenda, under the cooperation of the Republic of Turkey Ministry of Foreign Affairs, UNDP Turkey Office, Melinda&Bill Gates Foundation and Limak Foundation. In the coming years, we will continue to work and support sustainable development in the project, the first phase of which has been completed.

We reworked the Turkish Energy Academy (TEA) program, which we initiated in 2017 as Limak Energy, considering the sectorial developments, the rapidly developing technologies, innovative business models and digital trends wide-spreading in the world. We will provide the necessary support to entrepreneur candidates and entrepreneurs with the “TEA Limak Energy Entrepreneurship Acceleration Program”, the first entrepreneurship acceleration program focused on the energy sector in Turkey, in order for them to be able to develop and successfully implement innovative business ideas, business models or technologies related with the energy sector.

Our Sustainability Activities

We published the Limak Sustainability Report covering 2016-2017, in order to share our economic, environmental and social impacts with our stakeholders transparently, as a group that aims to produce a positive impact in all areas it operates with environmental and social responsibility awareness. We considered the preferences of the world while we defined our sustainability priorities. We determined our road map by meticulously correlating our key performance indicators applicable for each sector we operate, in line with the opinions of all stakeholders and employees, with the “Sustainable Development Goals”, which were published in 2015 as led by the United Nations and constitute the common agenda for the entire world. We continue to invest in the future of Turkey and the world also on the path of sustainability.

We will continue to contribute in the country’s economy and serve the society with our social benefit activities also in 2019, with the strength we derive from all of our stakeholders and employees.


 Nihat Özdemir
 Board of Directors Honorary Chairman

 Sezai Bacaksız
 Board of Directors Honorary Vice Chairman