Dear Valued Stakeholders,

      Since 2020, global developments have caused significant changes in world trade infrastructure, increasing uncertainties in the shipbuilding industry, which directly concerns our core activities, along with all other sectors. This has led to major changes in various areas such as supply chains, business models, and operational processes. In addition to the economic and political events, the earthquake disasters that occurred in our country this year have had significant consequences for the industrial sector, particularly in the energy, food, and raw material markets. When combined with the economic damage caused by the past two years of the pandemic, we are facing record-level inflation.

      Although our country has maintained its position among the top 20 largest economies in the world, as announced by the International Monetary Fund (IMF), unfortunately, high inflation continues to have a negative impact on our economy and our lives. Given the expected continuation of these inflation levels, we are once again in a year where we must take cautious and highly predictable steps.

      As Smak Makine A.Ş., our company, which quickly adapts to changing conditions, maintains its strong position against cyclical fluctuations with our competent workforce, robust capacity, and solid financial structure. In 2022, we achieved all of our goals and successfully maintained our growth in a strong and healthy manner. Adding value to every sector we operate in, focusing on the needs of all our stakeholders, and making investments that will support our long-term growth remain our priorities, along with profitability and strong cash flow management.

      Our company has directed its investment priorities towards innovative capacity efforts that will enable us to provide the best and highest quality products to our customers at competitive prices and within agreed timelines, as well as to achieve digitalization and sustainability goals.

      Since our establishment, we have aimed to be a leader with our expert employees, competencies, and capacity, while staying focused on development, innovation, and progress. Our goal has always been to be among the top in our field, particularly in our country and in Europe. We are a great family that always knows how to fulfill our responsibilities, overcome difficult times by working hand in hand with all our stakeholders, and emerge even stronger. With the strength we derive from our values and from each other, we will continue to carry out our work in the most efficient way and create value for all our stakeholders.

      I would like to express our gratitude to all the stakeholders who have always believed in us and contributed to our success.

Selim SELİMOĞLU
Chairman of the Board

June