Dear Shareholders, 

I present our Company’s Annual Report, Financial Statements and Audit Reports of the year 2010 for your examination and approval.

Decrease the effects of the global economic crisis of  2010 was a year of growth and is in the foreground. Turkey's economy has shown a significant growth. We see a positive growth in 2011 to compare with the table. With the effect of growth in advanced economies is expected to show a significant increase in our exports..

 The Corrugated Packaging Sector has been effected positively from the macroeconomic developments. Corrugated Packaging sector sales increased with the improvements in economic figures.This positive trend is expected to continue in 2011.

In spite of the excess capacity in the corrugated packaging sector,OLMUKSA increased its profitability significantly during 2010 . OLMUKSA’s realized sales and net profit were 274 million TL and 40,4 million TL, respectively. Our key target for 2011 is to grow the sales volume and achieve higher profitability. DS Smith in Turkey belong to the group of purchase transactions in the second facility was completed in 2010. This acquisition and our business with existing geography  gives more serious growth opportunity has been created to spread to different regions. With the contribution of new participants with our friends aboard we are stronger than the situation.

OLMUKSA is also leading the “Sustainability” initiative in the sector. More detail of our approach can be seen in our annual report.

OLMUKSA has created distinctive and innovative solutions to its customers during 2010. Being awarded as the “Most Admired Company in the Paper & Packaging sector”, OLMUKSA’s main target is to create value to its shareholders and customers and to protect its strong financial structure.

I am thankful to the members of the Board, management team and all employees and would like to respectfully acknowledge all our esteemed shareholders for their valuable contributions to those achievements.

Mehmet Göçmen
Chairman