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| Investor Relations |
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FAQ
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FREQUENTLY ASKED QUESTIONS: 1) What is the extent of Turkish ad market? What is Hurriyet's market share? 
2) Which sectors make up the highest percent of ad revenues? Banking/finance, automotive, real estate companies are the advertisers who made the highest ad spending in 2005. 3) TVs gain ad market share compared to newspapers in developed countries; Polland and Hungary was similar to Turkish ad market in the past but now Tvs gained share against newspapers, do you believe this might happen in Turkey too, what's the current situation and how do you see the future? 
Turkey is different in terms of cultural and social norms compared to Eastern European countries. Opinion making, politics, different newspapers with different identities are an inseparable part of Turkish people. We believe newspapers will continue to form a discussion platform in the following years as well. In our opinion, newspapers will keep their ad market share within this framework. 4) Circulation in Turkey show an increasing trend in the near past, how do you evaluate this? In the past promotions had the most significant effect on circulation figures. Although there are cultural promotions (e.g. books) from time to time, current drivers are different. The uprise in economy and culture, the increase in obligatory education from 5 to 8 years, the increase in literacy rate as a result of this have a positive impact on circulation. Sectoral supplements as well as regional publications are other factors effecting circulation in a positive way. In addition recently released newspapers with more magazine content and lower price created a new reader group. Hurriyet benefited from these developments by 5% in circulation terms while the market grew by 11% in 2005. 5) Cover prices are quite low in Turkey compared to European counter parties, what is the reason behind this? Competition, new and lower priced newspapers’ entrance to market make price increase quite difficult. We hope to improve cover prices as long as the economy and purchasing power of people keep improving. 6) Who are your readers? How do you define your reader profile? According to recent researches made by BİAK (Press Ad Research Institute) 76% of our readers belong to ABC1 socioeconomic group, 67% are high school and university graduates, and 65% are between 18-44 years old. 7) What are your investment plans? As Hurriyet we plan to make an investment totaling 60 million US$ in 2006 and 2007 for printing machines. 8) How is the newsprint (paper) purchased and what are the terms? There is no newsprint (paper) production in Turkey. Hurriyet purchases paper from abroad as all other newspapers. Paper prices change according to global markets and have been in an increasing trend since 2002. 9) How much of consolidated income come from Hurriyet standalone? Approximately 80% of income comes from Hurriyet and the remaining 20% comes basically from Hurriyet Germany, Dogan Ofset and other subsidiaries. 10) Can you give a brief distribution of Hurriyet’s revenues? In 2005, 57% of revenues are ad, 19% are printing, 12% are circulation and 12% are other income. 11) Can you give information on your printing activities? Printing is an area of growth for Hurriyet. Printing income make up 19% of our revenues. Printing activities are a major operation for Hurriyet in which we have a competitive advantage and intensive know-how. We plan to utilise this advantage with profitable contracts in following periods by further investments. 12) Can you give information on your compliance with Corporate Governance Rules and your current applications? We value corporate governance rules in every aspect from editorial principles to management perspective. We increased our independent Board members from 2 to 3 in this sense. We revised our Articles of Association to be fully in line with Corporate Governance Rules. 13) Can you give a brief description of your dividend policy? Our dividend policy is determined by Capital Market Board applications and our Articles of Association. Hurriyet has been making regular cash dividend payments for 50% of distributable income for the last couple of years. 14) What are your future prospects? Platforms utilised by media has been varying every day. Content needs of our readers change from day to day. We see these changes as an opportunity to invest in our areas of strength. We generate successful projects in new generation platforms. We follow up developments in internet area and improve our news portal accordingly and feed this portal with strong communities. In addition, we aim to carry our leadership in “classified” ads to internet medium. This way we increase our revenue types. back to top
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