TürkTraktör Announcing the Third Quarter Financial Results of 2023

TürkTraktör Announcing the Third Quarter Financial Results of 2023

TürkTraktör, awaiting with anticipation its 70th anniversary in the Turkish automotive sector, announced the third quarter financial results of 2023. In the first nine months of 2023, TürkTraktör enjoyed a strong year-over-year growth, achieving a 23% increase in production, 11% increase in exports and 23% increase in total sales volume. TürkTraktör completed the third quarter with a net profit of TL 6 billion 296 million, an operating profit margin of 23.7% and an EBITDA margin of 24.5%, thus reaching a total turnover of TL 32 billion 416 million.
 
Expressing his happiness about TürkTraktör’s achievements, Aykut Özüner, TürkTraktör Company Leader, said: “In 2023, we completed 17 years in a row as the leader of the Turkish tractor market thanks to our wonderful performance in production, exports and total sales. This is the proof of our commitment to preparing the Turkish agriculture for the future. Aware of our responsibility to the environment, we have determined sustainability as one of our priority areas. In line with this approach, we work to develop tractors equipped with eco-friendly Stage V engines and to meet our energy needs from our own renewable sources. Entering the fourth quarter with firm steps, I would like to express my gratitude to TürkTraktör employees who work with great dedication, our customers who have always trusted our products, and to our stakeholders for their constant support.”
 
New Holland Maintaining its Market Leadership
TürkTraktör manufactured 38,215 tractors in the first nine months of 2023. The Company completed the sale of 25,289 tractors to the domestic market while reaching 13,902 units in exports. According to the TurkStat September-end data, TürkTraktör maintained its leadership of the Turkish tractor market with a market share of 43% thanks to the strong performance of the New Holland brand while CASE IH, TürkTraktör’s premium brand, continued its success, becoming the fourth brand of the market.