Katmerciler grew 38 percent by increasing export activities 90 percent

As the leader of vehicle mounted equipment sector in Turkey and the only representative of this sector in stock market Katmerciler (KATMR) have declared their 2011 financial results. In 2011 the company increased their consolidated income by 38 percent, from TRY 62 million to TRY 85.7 million and their exports by 90 percent, from TRY 16.9 million to TRY 32 million. 2010 figure of export income to total incomes percentage of 42 percent has been elevated to 65 percent in 2011.

By increasing their active volume by 98 percent compared to previous year, reaching an active volume of TRY 118 million, and by increasing their equity capital by 13 percent, reaching an equity capital of TRY 30 million, Katmerciler achieved an EBIT profit figure of TRY 8.6 million and a net profit figure of TRY 2.4. million.
 

In his assessment of 2011 financial results Mehmet Katmerci, Chairman of the Board and CEO of Katmerciler, stated that they have closed 2011 largely in in line with their objectives and estimations and said “We continued our healthy and stable growth in year 2011. We will continue and strengthen this trend with new investments.” Katmerci added:

“We almost doubled our growth objective of 20 percent. With a growth of 38 percent we carried our consolidated income over TRY 85 million level. As an international markets oriented company in unchallenged lead of its sector with export operations to 41 countries, we have almost doubled our export income, reaching USD 32 million. In parallel with our strategic objective to increase and maintain the percentage of our export income in total income above 50 percent we reached the level of 65 percent. Last year this ratio was 42 percent.”

Remarking that they have invested TRY 4.4 million in 2011 and increased their equity capital to TRY 30 million, Katmerci went on to emphasize that the main reason behind the imbalance between TRY 8.6 million of gross profit and TRY 2.4 million of net profit was the rise in exchange rates in second quarter. 

“Our aim is to continue our growth trend with new investments, maintaining our leading role in expansion of the market, while securing larger shares in domestic and international markets, becoming a more profitable and more efficient company for our investors” says Mehmet Katmerci, and points out that one of the highlights of last year was the launch of GimKat, established as an even partnership between Katmerciler and Giamex International of France. Emphasizing that being established solely as a firefighting vehicles and equipment manufacturer, GimKat will further bolster international position of Katmerciler and increase their export capacity, and went on to add:

“There is a very large potential in international markets. As a pioneer and leader in their field, Giamex International has the potential to open the doors of new markets for Katmerciler with their advanced technology and various development capabilities. We believe that this partnership will create value for our company as well as our shareholders and investors, and will further bolster Katmerciler’s position as the largest exporter in the sector.” 

Katmerci pointed out that as a public company Katmerciler’s owe their successful performance to all interested parties from their employees to their clients, to investors and partners, and added that the company will continue its healthy and strong growth trend, creating value for their sector, Izmir and Turkey.