TürkTraktör Announcing the First Quarter Financial Results of 2022
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 2022. TürkTraktör started 2022 breaking a new record in the first three months with a 26% increase in exports.According to the first quarter financial results of 2022, TürkTraktör attained a total production volume of 11,427 tractors in the January-March period. In the first quarter, TürkTraktör completed the sale of 6,753 tractors to the farmers in Turkey while exporting 4,394 units to the global markets. As stated in the February data issued by TurkStat, TürkTraktör’s New Holland brand maintained its leadership in the market while TürkTraktör’s premium brand CASE IH consolidated its position at the second place.
Underlining the boost in exports volume in the first quarter, Aykut Özüner, TürkTraktör CEO, said: "We exported more than 4,000 tractors to the world out of the total tractor production of 11,427 in the first three months. This is a new record in exports when compared to the previous years. I would like to extend my thanks to the entire TürkTraktör family for their hard work to achieve this success. As Turkey's leading company in agricultural mechanization, we will work with all our strength to transform agriculture and contribute to Turkey’s economy.”
TürkTraktör realized a 26% increase in exports, breaking a new record according to the first quarter financial results. The leader of the tractor market for 15 years in a row, TürkTraktör’s first quarter net profit amounted to TRY477 million. TürkTraktör enjoyed an operating profit margin of 13.2% and EBITDA margin of 14.3%. The Company generated a total turnover of TRY3 billion 988 million in January-March 2022.
