Despite Of Challenging Market Conditions, TürkTraktör Marches Towards Record In Export
TürkTraktör maintained its uninterrupted leadership in the Turkish market in its 13th year with its operations in 2019. Exporting tractors to more than 130 countries of the world, TürkTraktör recorded the highest exportation figure of the last 5 years in 2019.TürkTraktör that celebrated its 65th anniversary last year disclosed its financial results for the year 2019. As the leader manufacturer of the industry, TürkTraktör displayed a successful performance in numerous areas extending from production to overseas sales.
The tractor giant rolled a total of 22 thousand 745 tractors off the production lines at its Ankara and Erenler plants. Thus, TürkTraktör performed 77% of the total tractor production of Turkey in 2019.
With a total sale of 10 thousand 903 tractors, the company maintained its uninterrupted market leadership in its 13th year.
TürkTraktör raised its overseas sales figure to 15 thousand 207 units with an increase of 5%. The company performed 90% of the tractor export of Turkey and achieved the highest exportation figure of the last 5 years.
Closing the year 2019 with a total revenue of 3 billion 806 million TL, the company recorded an overseas revenue of 2 billion 158 million TL with 14 % increase. This achievement in overseas revenue is a new record for the company.
While the gross profit of TürkTraktör in 2019 is 549 million TL and the gross profit margin was 14,4 %, the operating profit was 248 million TL and EBITDA was 374 million TL. The operating profit margin and EBITDA margin of the company were 6,5 % and 9,8 %, respectively. The net profit of the company is recorded as 112 million TL.
Aykut Özüner, CEO of TürkTraktör:
"Almost every one of the two tractors in the market is rolled out from TürkTraktör plants"
Aykut Özüner, CEO of TürkTraktör, assessed the financial results of 2019: "Despite of the challenging market conditions, we maintained our uninterrupted leadership in the market in its 13th year in 2019. We managed to be the market leader for 21 times in the last 32 years, and our goal is to continue this success in 2020. Given that we have a market share of 45%, almost every one of the two tractors in the market is rolled out from our plants."
The world also uses tractors bearing TürkTraktör signature
Özüner underlined the 5% increase in the number of tractors sold to international markets in 2019. "We had offered 67% of our products to the world with sales made to overseas markets throughout the year. We had reached the highest export sales figure of the last 5 years with this increase in export. We are more than proud that increasingly more farmers of the world are using the tractors made in Turkey."
"We continue to strengthen local production in every aspect from R&D to design and production."
Aykut Özüner stated that they had prioritized smart agricultural practices in 2019. "Last year, we had launched different products and services that enable our farmers' transition into modern agriculture besides being manufactured locally in Turkey. And in this scope, we had launched the first local tractors of Turkey to feature semi-automatic transmission, and the first local tractors of Turkey to feature satellite-supported autoguidance system once again as a first in Turkey. By offering these technologies, we support farmers to improve efficiency and lower input costs. We offer farmers state-of-the-art products with more affordable prices by manufacturing them domestically in Turkey and aim to expand their use."
Local production began in Construction Equipment
At the end of his statement, Aykut Özüner talked about the construction equipment market that they are active since 2013.
Özüner mentioned the additional investment that they had made to Ankara plant in 2019 to start manufacturing construction equipment locally in Turkey. "As a part of our local production vision, we will now be offering New Holland and Case backhoe-loaders manufactured in Turkey. With this decision, we carried our long years of strength and success in tractor production to this field" said Özüner.
