Achieveing A Successful Performance In The First Three Months Of The Year Türktraktör Enjoys An Increase In Production And Sales
TürkTraktör consolidates its leadership in the market thanks to a boost in the production and total sales in the first quarter of 2021.TürkTraktör announced the financial results for the first quarter of 2021. Completing 2020, which was globally affected by the harsh conditions of the pandemic, as the leader of the Turkish tractor market and the exports, TürkTraktör started 2021 with a stellar performance.
Attaining a total production volume of more than 34,000 units in 2020, the Company achieved a total production of 13,208 in January-March 2021. The leader of the sector for 14 years in a row, TürkTraktör maintained a successful performance in exports and domestic sales in the first three months of 2021. The Company realized a 71% increase in total sales compared to the same period in 2020. TürkTraktör delivered 9,628 tractors to the Turkish farmers, and 3,487 tractors to the farmers all around the world in January-March 2021.
Driven by the significant increase in the production volume, TürkTraktör increased its turnover to TRY2,684,000,000 in the first quarter. TürkTraktör enjoyed an operating profit margin of 14.2% and EBIDTA margin of 15.7%. In January-March 2021, TürkTraktör’s net profit amounted to TRY348 million.
TürkTraktör CEO Aykut Özüner:
“Our priority is to ensure sustainability in agricultural production”
Underlining that TürkTraktör’s success in the first quarter, especially in production and sales figures, proved TürkTraktör’s endeavor to ensure sustainability in agricultural production, Aykut Özüner, TürkTraktör CEO, said: “We continue to meet the mechanization demands and needs of our farmers, the backbone of the agricultural sector, to ensure the continuity of agricultural activities. In the first three months of this year, we maintained our leadership in the tractor market thanks to the successful performance of our New Holland and Case IH brands.”
Sales to foreign markets increasing
Stating that there is a recovery in global exports compared to the first few months of the pandemic, Özüner added: “However, due to the fluctuations in the course of the pandemic in different regions and countries, problems in the demand and supply chain continue. Despite these problems, we managed to increase our foreign sales by 2% in January-March 2021 thanks to the actions taken to best manage the situation. In the same period we realized 88% of Turkey’s tractor exports, promoting Turkey's strong manufacturing capabilities in the global markets. We will maintain and increase our performance in global markets in 2021 thanks to our wide range of models manufactured in accordance with Stage V engine emission standards.”
“We continuously enhance our presence in the construction equipment sector”
