FINANCE

Since ENKA is a worldwide company doing business in various sectors of the industry , the Finance Department thereof is required, in comparison to the finance departments of other companies doing business domestically, to have a much different structure and the necessary capacity to rapidly satisfy all the different needs of the Company in the performance of its businesses. In this context, one of the most essential needs is the provisioning of the required financial information and the financial support to the projects and the group companies.

The capability to provide the needed financial support in due course with a reasonable cost and under favorable conditions so that the work flow is not retarded in anyway and the risks connected therewith are minimized, is one of the main factors leading to success in overall performance. For ensuring that, a close collaboration with many domestic and international financial institutions is required to be performed for making the necessary preparations for meeting the prospective financial needs.

The main tasks of the Finance Department are, besides provisioning of the requested bid bonds, advance payment bonds, performance bonds, retention bonds and warranty period bonds for the projects as well as of the letters of credit (L/C) for major suppliers and supporting of the projects for making usage of hedging instruments for stabilizing the profitability of the projects, preparing headquarters’ overall budget, budget planning, tracing and ensuring the timely performance of payments and collections as well as tracing and reporting of budged realizations, and provisioning of any and all financial information to the top management.