EVALUATION OF PRODUCT GROUPS FOR THE YEAR 2021 50 FINANCIAL PERFORMANCE
TECHNOLOGY AND HUMAN-ORIENTED TRANSFORMATION
55 PRODUCTION AND INNOVATION POWER
71 EMPLOYEES
81 CORPORATE CITIZENSHIP
84 SUPPLY CHAIN
A NET-ZERO COMPANY
87 THE JOURNEY TO NET ZERO
89 CIRCULAR ECONOMY
93 WATER STEWARDSHIP
ACCESSIBLE AND SMART SOLUTIONS THAT MAKE LIFE EASIER
95 PRODUCTS AND SOLUTIONS THAT CREATE BENEFITS
102 QUALITY AND PRODUCT SAFETY
103 CUSTOMER EXPERIENCE
OTHER COMPANIES AFFILATED TO VESTEL
ADDITIONAL DISCLOSURES AS PER THE LEGISLATION
CORPORATE GOVERNANCE
RISKS AND THE ASSESSMENT OF THE BOARD OF DIRECTORS
INTERNAL AUDIT ACTIVITIES AND INTERNAL CONTROL SYSTEM
STATEMENT OF COMPLIANCE WITH CORPORATE GOVERNANCE
PRINCIPLES
CORPORATE GOVERNANCE COMPLIANCE REPORT
CORPORATE GOVERNANCE INFORMATION FORM
STRUCTURE OF THE BOARD OF DIRECTORS
DUTIES AND AUTHORITIES OF THE BOARD OF DIRECTORS
BOARD COMMITTEES
143 EVALUATION OF THE BOARD OF DIRECTORS REGARDING THE WORKING PRINCIPLES AND EFFECTIVENESS OF THE BOARD
COMMITTEES
144 APPENDICES
164 GRI CONTENT INDEX
167 FINANCIAL REPORTS
STATEMENT OF RESPONSIBILITY FOR THE ANNUAL REPORT
INDEPENDENT AUDITOR'S REPORT ON THE ANNUAL REPORT
STATEMENT OF RESPONSIBILITY FOR FINANCIAL STATEMENTS
171 CONSOLIDATED FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR'S REPORT
260 INVESTOR INFORMATION
22
MESSAGE FROM THE CEO
"I am pleased to present to our stakeholders our first integrated report addressing Vestel's economic, environmental and social performance, targets and approach in a holistic manner".
VESTEL ELEKTRONİK 2021 INTEGRATED ANNUAL REPORT
10
VESTEL IN A NUTSHELL
In light of our long-term strategy and vision, we lead the market as one of Turkey's and Europe's largest electronics and household appliances manufacturers.
28
INTEGRATED BUSINESS MODEL
As a technology company creating social and environmental benefits through our accessible and smart products that make life easier, we have created our integrated business model.
50
FINANCIAL PERFORMANCE
In 2021, turnover rose by 51% to TL 32.5 billion, and EBITDA by 52% to TL 5.5 billion.
54
TECHNOLOGY AND HUMAN- ORIENTED TRANSFORMATION
In line with our strategic approach, we transform our culture in a human-oriented way by leveraging the power of technology and digitalization and engage in activities involving all stakeholders in our value chain.
86
A NET-ZERO COMPANY
We invest in innovative business models for transition to a net zero-emission economy and strive to implement circular models in both our products and operations.
94
ACCESSIBLE AND SMART SOLUTIONS THAT MAKE LIFE EASIER
To create environmental and social benefits with our products and thus respond to the needs of our consumers to the greatest extent, we aim to make life easier through smart, high- quality, safe products and services.
1
VESTEL ELEKTRONİK 2021 INTEGRATED ANNUAL REPORT
SUSTAINABLE PERFORMANCE
Continuing to perform our activities with a focus on the goals of maximizing efficiency and quality by combining competencies gained through being a robust technology company with effective management skills and processes, we carry our high operational and financial performance forward.
RECORD-LEVEL EBITDA
TL 5.5billion
In line with strong growth in revenues in 2021, EBITDA reached an all-time high of TL 5.5 billion.
2
VESTEL ELEKTRONİK 2021 INTEGRATED ANNUAL REPORT
3
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Vestel Elektronik Sanayi Ve Ticaret AS published this content on 16 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 June 2022 13:52:03 UTC.
Vestel Elektronik Sanayi ve Ticaret A.S. (Vestel) is a Vestel Group Company based in Turkey, engaged in the manufacture, marketing and distribution of consumer electronics, digital technologies, household appliance and information technologies. It operates in three main segments: television and electronics; refrigerator, air conditioning units, washing machines and cookers, and digital devices. Its product portfolio includes liquid crystal display (LCD) television sets (TV), plasma TV, digital set-top boxes. The Company has production facilities in Manisa and Izmir in the Aegean Region of Turkey, and in Vladimir Region of Russia. Domestic and foreign marketing and distribution of all Vestel products are undertaken by Vestel Marketing and Vestel Foreign Trading, respectively. The Company is a subsidiary of Collar holding B.V. In September, 2013, Zorlu Holding AS raised its interest to 77.54% from 2.73%, by acquiring a 74.81% interest, in the Company.
VESTEL ELEKTRONIK SANAYI VE TICARET ANONIM SIRKETI 
