How the symbol of the Republic, Sümer Holding, became mired in debt! A full 116.3 million TL...

Sümer Holding is mired in debt as of 2024.

Founded on July 11, 1933, under the name Sümerbank, the Holding saw 23 facilities, 16 stores, and 335 dealerships sold or closed and removed from the organization's structure as part of its privatization between 2003 and 2019. As of 2024, the institution's staff count has fallen to 135.

LOSSES YEAR BY YEAR

According to a report by Mustafa Bildircin from BirGün; the economic structure of Sümer Holding, whose real estate assets have been rapidly disposed of, has also been turned upside down. The institution's period loss, which was 24 million 668 thousand TL in 2020, occurred as 27 million 995 thousand TL and 61 million 830 thousand TL in 2021 and 2022, respectively.

823 THOUSAND TL TO MANAGEMENT

The increase in losses continued in 2023. Accordingly, Sümer Holding announced a loss of 116 million 300 thousand TL at the end of 2023.

Payments made to Sümer Holding's five-member board of directors were also reflected in the institution's financial data. A total of 823 thousand 79 TL in financial benefits was provided to top executives such as the Chairman of the Board, members, and auditors during the current period.

SOLD REAL ESTATE

The sales prices of some real estate belonging to Sümer Holding that were sold in 2023 and 2024, and the companies to which the real estate was sold, are listed as follows:

• Four properties in Mersin Tarsus: 402 thousand TL – Yunus Emre Yılmaz

• One property in Ankara Gölbaşı: 2 million 920 thousand TL - ALC Grup İnşaat

• Three properties in Ankara Çankaya: 90 million TL - Bilfen Eğitim Kurumları

• One property in Ankara Çankaya: 360 million TL – LÖSEV

News Source: 12punto