TürkTraktör Announces Third Quarter Financial Results for 2024
TürkTraktör, the long-established manufacturer in the Turkish automotive industry, announced its financial results for the third quarter of 2024. In the first nine months of the year, TürkTraktör manufactured 34,131 tractors, accounting for 60 percent of Türkiye’s tractor production and 79 percent of its exports. According to TürkTraktör's Q3 2024 financial data, the company’s net profit is 5.1 billion TL, total turnover is 49.6 billion TL, and operating profit margin and EBITDA margin are 15.2 percent and 17.7 percent, respectively.
In the third quarter of 2024, TürkTraktör sold 24,310 tractors to the domestic market, while reaching 10,870 units in exports. By the end of the third quarter, the Turkish tractor market experienced an 18.3 percent contraction compared to the same period last year, with a total of 46,956 units sold.TürkTraktör, with a total share of 47.1 percent in the Turkish tractor market through its two brands, has maintained its leadership position for approximately 18 consecutive years.
TürkTraktör Company Leader Matthieu Séjourné evaluated the third quarter financial results, stating:
“As we continue our efforts to prepare agriculture and cities for the future, our financial results stand as the best reflection of our dedication. By the end of the third quarter, we are proud to have accounted for 60 percent of Türkiye’s total tractor production and 79 percent of its tractor exports. In a challenging environment where the market has contracted by over 18 percent compared to the same period last year, achieving these results is even more significant. As we advance with confidence toward the year’s end, I firmly believe that we will conclude our 70th anniversary while maintaining our leadership in the market. I would like to extend my sincere thanks to the entire TürkTraktör family, our farmers who continue to choose our products, and all our stakeholders who made these results possible."
