TürkTraktör Breaking Records in Production and Exports

TürkTraktör Breaking Records in Production and Exports

TürkTraktör, the first manufacturer of the Turkish automotive sector and Turkey's leading company in the agriculture mechanization, announced the first quarter financial results covering January-March 2023. TürkTraktör started 2023 breaking records in production, exports and total sales volume and enjoying a 19% increase, 15% increase and 27% increase respectively. TürkTraktör completed the first three months with TL 1 billion 398 million net profit, 18.3% profit margin and 19.1% EBITDA margin. Thanks to this strong performance, the Company’s turnover reached TL 9 billion 523 million.
 
Expressing his excitement and happiness for an outstanding start in 2023 after closing 2022 with achievements, Aykut Özüner, TürkTraktör Company Leader, said: “Always the favorite of our farmers, TürkTraktör maintains its leadership of the Turkish tractor market in the first quarter. We are on our way to complete 17 years in a row as the leader of the market. With the best Q1 results to date in production, exports and total sales, we have excelled ourselves with these exceptional records. In the light of our sustainability strategy, emphasizing ‘Every step we take today have an impact on the future’, we continue to prepare the agriculture and cities for the future with our tractors and construction equipment. Under our sustainability strategy of ‘Future Impact’, we aim to extend our sphere of influence to our entire ecosystem. To this end, in April, we shared our 2030 targets for our four focus areas: Impactful Leadership for the Future, Impact the Future Competencies with Innovation, Impact Responsibly in Operations and Products, and Impact the Future of Agriculture. I would like to express my endless gratitude to TürkTraktör employees who are committed to this transformation and are the driving force behind these achievements, and to our stakeholders who have always trusted our products.”
 
According to the 2023 Q1 financial results, TürkTraktör manufactured 13,625 tractors in the period of January-March. In the first three months, TürkTraktör completed the sale of 9,154 tractors to the domestic market while exporting 5,058 units to global markets.
 
New Holland: The Market Leader
According to the TurkStat data, TürkTraktör’s New Holland brand maintained its market leadership with a market share of 38.6% while CASE IH, TürkTraktör’s premium brand, continued its success, becoming the fourth brand of the market with a share of 8.4%.