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Board of DirectorsChairman's Message

We are a leading engineering firm on a path to become a global player that currently provides our services to eight countries across three continents. Since the day we have established, including in our own country, we work to add value to the economies of the areas we carry out our activities and we have introduced the terminology of “technical contracting” to Turkey.

 

2018 was a financially unstable year, due to economical fluctuations. Following the referendums in June new policies introduced by the president of the Republic of Turkey’s government created a positive outlook. However, in the second half of the year exchange rates, interest rates and inflation, fluctuations and instability caused doubts within the economic sector. Companies within the real sector including our own company started to be prudent. Quick decisions and precautions taken by our government stabilized the unstable situation rapidly. Money and capital markets returned to normal and the fluctuation in exchange rates stabilized. The last quarter of 2018, export figures reached 6.7 points which was the highest figure projected within the last 10 years. 2019 new economy programs predict that the year will be politically stable which means that these negative factors will be greatly reduced. 

On the other hand, the recession within 2018 eventually meant that targets for the growth of markets were reduced. Especially the commercial tension between USA and China, the duration of the EU (Brexit) causing anticipation towards the EU economy. Being quite obvious that the USA’s global politics will affect circular markets and circular economies in the future. 

AE Arma-Elektropanç, as a company 90% of our projects are abroad, which means that we have managed to overcome the changing economic pressure and as a company came through the period successfully. 

We have 15 ongoing major projects such as; Al Maktoum International Airport - Passenger Terminal Building Extension Project which will accelerate the tourism in the UAE, Garanti Bank Pendik Technology Campus Data Center which will add value to the banking sector in Turkey and Dubai Hills Mall which will be one of the biggest shopping mall of the world in 2019. By the help of these projects, our success has continued without any interruptions. For the 5th time we have achieved the honor of being listed in the Engineering News Record (ENR) magazine in the “Top 250 International Contractors” 2018. This year we were listed as 156th, meaning that we had raised 34 places since last year’s listing. At the same time we have listed in the MEP Middle East’s magazine, at the “Top 25 MEP Contactors of the Middle East”. We have the honor of being listed in this category for the past 5 years. 

In the world of economy and business, the most prestigious magazines Capital and Fortune Turkey issued the Turkey’s largest  companies. We have listed 224th at the Capital Turkey magazine, a rise of 67 places since last  year And 174th at the Fortune Turkey 500 by rising  47 place from  last year’s list. 

On Capital Magazine’s “The 50 Largest Turkish Companies Established Abroad” list, our Dubai subsidiary became 24th, Russian subsidiary became the 50th and our UK participation became the 92nd. We were also honored with UK subsidiary which to be the 6th in the list of “Quickest Growing Turkish Companies Abroad”. 

In June 2017, Burak Ç. Kızılhan took over the flag and became our CEO. He was awarded a place on the list of “Power 100” the most influential people in the middle east’s construction industry and he became the 45th place, being one of the first 50. Kızılhan was also awarded 7th place in the Economist magazines under the title of “40 Young CEO Under 40 List” by Fortune Turkey, he was listed 21st.

In 2019, we are going to continue to furnish MEP services with qualified investments in particularly retail, hospitality, data center, transportation and infrastructure projects. Especially along the UAE, Russia and Azerbaijan we will be taking on the most prestigious projects in the Balkan countries and Turkey within technical contracting and engineering services and continue to clinch our success. As moving rapidly towards becoming a global brand, we are proudly going to wave our flag in the international arena by creating added value, contributing employment and economy with our more than 300 engineers and over 5000 employess.
 

Kemal KızılhanChairman