As Vestel Group of Companies, we are a global technology leader thanks to our world-class manufacturing capabilities, cutting edge technology and investments in the technologies of the future. Building on our competencies in technology design, development and product customization, we bring our extensive product range to consumers in more than 160 countries. With nearly 20,000 employees, our manufacturing capability backed by technological superiority and our contribution to Türkiye’s exports, Vestel is a force to be reckoned with in the Turkish economy.

As one of the world's leading original design manufacturers (ODM) in consumer electronics and white goods, we rank among the top three in the European LCD TV market and among the top five in the white goods market. As one of Türkiye's best-known brands, Vestel has a strong position in the global market.

Moving forward, we aim to increase our market value and turnover, improve the efficiency of our departments and expand all our business processes. We continue to develop our R&D and innovation capacity by focusing on people. With 36 years of experience and successful collaborations, our R&D efforts are further strengthened by the continuous training and development of our 1,821-strong team of experts.

At Vestel, we assume a pioneering role by adapting today's technologies such as artificial intelligence (AI), the Internet of Things (IoT) and autonomous systems to our manufacturing facilities. We continue our efforts to complete the Industry 4.0 transformation and transition to fully automated smart factories. We optimize our manufacturing processes by integrating smart robotic systems and autonomous systems. By improving product development and manufacturing processes with technologies such as artificial intelligence-supported image processing, 3D printers, virtual reality and augmented reality, we both save money and improve quality.

In the global market, in addition to ODM-based sales, we also make branded sales through the regional brands we acquire and the global brands under license. We are further reinforcing Vestel's position in the market with the strong brands we have licensed for production and sales in the European market.

Our employees are at the center of all our innovative efforts. In line with our vision of becoming a technology company that creates social and environmental benefits, we adopt working models that develop the talents of our employees and increase their adaptability to innovation and change. In the 21st century, we apply people-oriented work, systemic perspective and strategic management approaches to combat the talent gap, one of the most important problems facing companies.

We are taking decisive steps towards our vision of becoming a net zero company. We are aware of the critical importance of the private sector in achieving global net zero targets. This year, we applied for Science Based Targets (SBTi) and we are committed to achieving net zero emissions by 2050. In this context, we focus on areas such as waste heat recovery systems, electrification, fleet transformation and life cycle-based design practices. While prioritizing areas such adopting low-carbon technologies and manufacturing products with low environmental impact, we also plan to boost our renewable energy investments. In 2023, we updated our TCFD statement to address climate risks more comprehensively and will continue to analyze climate risks, opportunities and financial impacts in greater depth in line with the Turkish Sustainability Reporting Standards.

Vestel boasts one of the most extensive sales and after-sales service networks in Türkiye and reaches a wide consumer base with its “multi-brand and multi-channel strategy”. Vestel accounts for 90% of Türkiye's TV exports and 40% of the country's white goods exports, and has maintained its position as the top exporter in the electronics sector for 26 years.

In order to maximize customer satisfaction, we respond quickly and effectively to the needs of our customers and shape our market strategies accordingly. We have adopted as a principle in our relations with our customers to offer trust, quality and innovative solutions.

I would like to express my sincere gratitude to all our stakeholders and especially to my valuable colleagues who have contributed to us taking these important steps. Our efforts to strengthen our R&D and innovation capacity, reduce our environmental impact and contribute to a carbon-free future are an important step not only for our company but also for the whole world. Our vision and determination to leave a more sustainable world to future generations will carry us forward. I firmly believe that we will continue this valuable work with the same determination and resolve in the future.

ERGÜN GÜLER

CEO