Yeşil Real Estate Investment Trust (Yeşil GYO) has announced its financial results for 2023, revealing substantial growth in the company's equity. The firm’s total assets surged by an impressive 193%, rising from 4.68 billion TL to 13.74 billion TL, and its total equity skyrocketed by 574%, growing from 1.46 billion TL to nearly 9.85 billion TL. This remarkable increase has propelled the company's shares to appreciate over 100% in value.
Significant Share Gains
Yeşil GYO's shares saw a noteworthy uptick following the disclosure of its 2023 financial statement. The company's assets escalated from 4.68 billion TL in 2022 to 13.74 billion TL, marking a 193% growth. Additionally, the total equity experienced a 574% surge, reaching around 9.85 billion TL. Known for the prominent Istanbul Tower 205 project located on Levent Büyükdere Street, Yeşil GYO reported a net profit of 1.72 billion TL for 2023. Consequently, the share price soared from 3.50 TL in January 2024 to 10 TL.
Impact of Inflation Accounting
Engin Yeşil, Chairman of Yeşil Holding, credited this significant financial improvement to the inflation accounting adjustment. He stated, "This new financial regulation ensured accurate valuations on the balance sheets of real estate-rich companies, and it is tremendously beneficial for both us and our investors."
Most Frequently Asked Questions About Yeşil GYO
What are the factors behind the increase in Yeşil GYO's equity?
Several factors contributed to the notable rise in Yeşil GYO's equity as depicted in the 2023 financial results:
1. Inflation Accounting Adjustment: Provided a true valuation of project values on the balance sheet, significantly enhancing the company's total assets and equity.
2. Successful Sales and Operational Efficiency: Key projects, such as Istanbul Tower 205, experienced efficient sales and operational success.
3. Strategic Investments: Financial management skills and strategic investments were instrumental in achieving these favorable financial outcomes.
Why have Yeşil GYO shares become attractive to investors?
Yeşil GYO shares have attracted significant interest from investors due to exceptional financial performance in 2023:
1. Substantial Asset and Equity Growth: Experience notable upswing in total assets and equity.
2. High Net Profit: A net profit of 1.72 billion TL boosted investor confidence.
3. Rise in Share Price: The share price elevated from 3.50 TL to 10 TL within a brief period, promising high returns.
4. Inflation Accounting Adjustment: Offered a realistic and accurate portrayal of Yeşil GYO’s financial standing, drawing investor attention.
Most Frequently Asked Questions About Yeşil GYO
What led to the significant rise in Yeşil GYO's equity?
The substantial rise in Yeşil GYO's equity, as indicated in the 2023 financial results, can be attributed to multiple factors. An inflation accounting adjustment played a pivotal role, offering a true reflection of project valuations on the balance sheet, which significantly boosted total assets and equity. Successful sales and operational efficiency, particularly in key projects like Istanbul Tower 205, also contributed. Furthermore, strategic investments and robust financial management were fundamental to achieving these impressive financial metrics.
Who is Engin Yeşil?
Engin Yeşil was born in 1962 in Istanbul. After completing his education at Şişli Terakki High School in Istanbul and earning a degree in Finance from the University of Florida, he began his career in the USA, working in the telecommunications and contact lens sectors.
In 2006, he founded Yeşil İnşaat in Turkey. He also acquired the naming rights of Donald Trump in Turkey and, along with a foreign partner, purchased what was formerly known as İhlas GYO, renaming it Y&Y Real Estate Investment Trust. Engin Yeşil is one of the key partners and executives of the Yeşil Group and is fluent in English.