Turkish giant Koc Holding’s revenue surpasses $65B in 2024

Türkiye’s largest conglomerate, Koc Holding, reported $65.8 billion in consolidated revenue in 2024, alongside $4.4 billion in combined investments across all subsidiaries.

Over the past five years, the company’s total investments have reached $14 billion.

In a statement, Koc Holding CEO Levent Cakiroglu highlighted that despite global uncertainties, the company maintained a strong financial structure throughout the past year.

He reaffirmed Koc Holding’s commitment to its long-term strategic goals and global expansion, emphasizing continued investments both domestically and internationally.

One of the key recent developments, he noted, was the acquisition of operating rights for Istanbul’s Kalamis Marina for $504 million for 40 years. “We are pleased to have signed the contract,” Cakiroglu said.

Latest investments

Cakiroglu outlined several major investment projects undertaken by Koc Holding’s subsidiaries:

• Tofas, the group’s automotive arm, has launched production and exports of its new K0 light commercial vehicle project for Fiat, Citroen, Opel, and Peugeot, with an investment of approximately $250 million.

• Ford Otosan has begun production of Volkswagen’s new one-ton commercial vehicle model at its Kocaeli Yenikoy plant, as part of Ford and Volkswagen’s strategic partnership.
• TurkTraktor has completed the installation of a cabin assembly line at its Sakarya Erenler factory and is now investing €29 million ($30.33 million) to establish a cabin frame production facility.

Global expansion

Emphasizing Koc Holding’s multinational presence, Cakiroglu noted that the company operates in 60 countries, with 131 production facilities and sales companies worldwide.

Key international investments by the subsidiaries include:

• Beko, a leading home appliance brand, has commenced production at its new facilities in Egypt and Bangladesh, built with a total investment of $188 million.
• Entek Electricity has started investing in a 214.26 MW solar power plant project in Romania.
• Otokar, the group’s defense vehicle manufacturer, has secured a contract worth 4.26 billion Romanian lei (RON) for 1,059 armored vehicles from Romania’s Ministry of National Defense and state-owned C.N. Romtehnica SA.

Founded in 1926 as Türkiye’s first holding company, Koc Holding comprises 113 subsidiaries, including 16 publicly listed companies on the Istanbul Stock Exchange, with 124,000 employees and an enterprise value of $98.5 billion.