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Yeşil Real Estate Investment Trust (Yeşil GYO) has revealed its 2023 financial results, showcasing an impressive growth in the company's equity. The firm boosted its total assets by an extraordinary 193%, increasing from 4.68 billion TL to 13.74 billion TL. Meanwhile, its total equity rose by a remarkable 574%, from 1.46 billion TL to nearly 9.85 billion TL. This significant growth led to the company's shares rising more than 100% in value.
Significant Share Gains
Yeşil GYO's shares experienced a notable rise following the announcement of its 2023 financial statement. The company’s assets increased from 4.68 billion TL in 2022 to 13.74 billion TL, reflecting a dramatic 193% growth. Moreover, total equity soared by 574%, reaching approximately 9.85 billion TL. Renowned for the Istanbul Tower 205 project on Levent Büyükdere Street, Yeşil GYO declared a net profit of 1.72 billion TL for 2023. The share price surged from 3.50 TL in January 2024 to 10 TL.
Impact of Inflation Accounting
Engin Yeşil, Chairman of Yeşil Holding, attributed this dramatic financial uplift to the inflation accounting adjustment. He stated, "This new financial regulation ensured accurate valuations on the balance sheets of real estate-rich companies. This development is very positive for us and our investors."
Most Frequently Asked Questions About Yeşil GYO
What are the factors behind the increase in Yeşil GYO's equity?
Several elements contributed to the significant increase in Yeşil GYO's equity as reflected in the 2023 financial results:
1. Inflation Accounting Adjustment: This adjustment provided a true reflection of project values on the balance sheet, significantly boosting the company's total assets and equity.
2. Successful Sales and Operational Efficiency: Major projects like Istanbul Tower 205 experienced effective sales and operational performance.
3. Strategic Investments: Financial management skills and strategic investments played a crucial role in these positive financial outcomes.
Why have Yeşil GYO shares become attractive to investors?
Yeşil GYO shares have garnered substantial interest from investors due to extraordinary financial performance in 2023:
1. Significant Asset and Equity Growth: The company's total assets and equity saw remarkable increases.
2. High Net Profit: A net profit of 1.72 billion TL enhanced investor confidence.
3. Surge in Share Price: The share price climbed from 3.50 TL to 10 TL within a short period, offering high return potential.
4. Inflation Accounting Adjustment: This adjustment provided a realistic and accurate reflection of Yeşil GYO's financial status, attracting investor interest.
Who is Engin Yeşil?
Engin Yeşil, born in 1962 in Istanbul, is a significant figure in the real estate sector. After completing his education at Şişli Terakki High School in Istanbul and earning a Finance degree from the University of Florida, he built a notable career in the USA, working in telecommunications and contact lens sectors.
In 2006, he founded Yeşil İnşaat in Turkey. He later obtained the naming rights of Donald Trump in Turkey and purchased İhlas GYO, renaming it Y&Y Real Estate Investment Trust. Engin Yeşil remains a key partner and manager of the Yeşil Group and is fluent in English.