East Capital Awards 2011 recognise Turkish Airlines, DO&CO Restaurants & Catering and Mostotrest as the most outstanding companies in Eastern Europe
East Capital today announces the winners of the 2011 East Capital Awards at an annual gala awards ceremony in Stockholm. The East Capital Awards recognise the most outstanding companies within Eastern Europe across three categories: Best Growth, Best IPO and Discovery of the Year.
Peter Elam Håkansson, Chairman of East Capital said, "The East Capital Awards were established to recognise and reward the huge potential and progress of companies in Eastern Europe, where we are active investors. We conduct over 1,200 company visits every year to track this talent, and maintain a strong network of contacts with companies and decision makers in the region. We have been highly impressed with the progress of each of this year’s winners and congratulate them on their continued success."
Turkish Airlines, one of Europe’s fastest growing airlines in recent years, won the Best Growth Award. Since 2003 Turkish Airlines has tripled its fleet size, grown the number of passengers by on average 18% per year and increased its revenues even during the worst of the global financial crisis in 2008-2009. As of September 2011, as a result of this consistent growth, the company became the fourth largest carrier in Europe and doubled its market share compared to 2005. Turkish Airlines is today a four star airline company with a fleet of 177 aircraft (passenger and cargo) flying to 190 cities around the world, comprised of 42 domestic and 148 international destinations..
DO&CO Restaurants & Catering AG, the gourmet entertainment company, which provides premium hospitality and catering services internationally, was awarded Best IPO. DO&CO’s USD 90 million listing on the Istanbul Stock Exchange on 2 December 2010 was oversubscribed by more than 11 times by foreign investors and more than 8 times overall. On the first day of trading the stock shot up by 14%, recording a share price increase of 31% in the first three days. DO&CO was up by 57% on 30 September 2011 outperforming its benchmark index by 74% since the IPO.
The Discovery of the Year Award was presented to Mostotrest, a leading construction company of roads, bridges, airports and railways in Russia. Mostotrest actively participates in large investment programmes to build the country’s infrastructure, also in preparation for the Sochi Olympics in 2014. From 2006 to 2010 revenues grew fivefold to USD 2.5 billion. Currently the company has an order book of USD 9 billion.
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Notes to Editors
The East Capital Awards have been held since 2004 to reward the progress of outstanding companies in Eastern Europe. This year's winners received their awards at a gala presentation dinner at the Grand Hotel (Vinterträdgården) in Stockholm on 10 November 2011.
The award for Best Growth is presented to the company that has demonstrated the best growth in sales, assets and profit margins in recent years. The Best IPO award is awarded to the company that has carried out the most successful flotation in the region. Discovery of the Year is awarded to the company with a distinctive investment proposition and which is expected to demonstrate strong future performance.
For further information about the winning companies, please visit:
Best Growth Award 2011 – Turkish Airlines
Best IPO Award 2011 – DO&CO
Discovery of the Year Award 2011 – Mostotrest
Contact information
Vesna Lucca, Head of Communications, East Capital
+46 70 601 92 20
About East Capital
East Capital is the leading independent asset manager specialising in the emerging markets of Eastern Europe and China. The company, founded in 1997, bases its investment strategy on thorough knowledge of the markets, fundamental analysis and frequent company visits by its investment teams. East Capital actively manages EUR 3.5 billion in public equity, private equity and real estate. It is headquartered in Stockholm, with offices in Hong Kong, Kyiv, Moscow, Oslo, Paris, Shanghai and Tallinn.