Turkish manufacturer enjoys 45% rise in overseas sales

Published 01.08.2019 00:59

TürkTraktör, the Turkish automotive industry's first manufacturer that is still operational, saw its overseas sales turnover increase by 45% in the January-June period, the company said in a statement yesterday.

The announcement comes as the company celebrates the 65th anniversary of its foundation.

TürkTraktör manufactured some 10,056 tractors and 6,338 engines in the first six months of the year, meeting 75% of Turkey's total tractor production.

The company, which exports tractors to more than 130 countries, increased the quantity of overseas sales by 20% to 7,562 units compared to the same period the previous year. The company had 88% of Turkey's total tractor exports in this period.

TürkTraktör sold 11,912 units to domestic and international markets in the January-June period, closing the first half of 2019 with a total turnover of some TL 1.7 billion, while its overseas sales turnover increased by 45% to TL 1 billion.

TürkTraktör's gross profit for the first six months of the year was TL 223 million, a gross profit margin at 12.8%, operating profit at TL 79 million, and EBITDA (earnings before interest, taxes, depreciation and amortization) at TL 143 million. The company's operating profit and EBITDA margins were 4.6% and 8.2%, respectively, while net profit was TL 21 million.

TürkTraktör General Manager Aykut Özüner said that he was quite pleased to have steadily rising exports, as they increased their overseas sales by 20% to 7,562 units in the first half of 2019 compared to the same period the previous year. "In the first six months of 2019, we achieved a significant increase in exports to North America, where agriculture and animal husbandry were applied at the most advanced level, while we are proud of the preference for our technologies and products in world agriculture," Özüner said. "One of the best examples is that in April 2019, we started to export Turkey's first domestic tractors with a semi-automatic transmission, which we brought together with our country's farmers, under both the New Holland and Case IH brands."

Özüner stressed that they have maintained their leadership in the tractor market for 12 years without interruption. "In the first five months of 2019, we held the lead with a 42% share and continued to bring new products to our customers," he said. "Since the beginning of the year, we have launched six new tractor models."

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