Katmerciler’s record profit increase in nine months

Improves nine month gross by 169%, net profit by 120%, income by 85%

Katmerciler’s record profit increase in nine months

According to the statistics of nine months, Katmerciler improved its net profit for the year by 120% and made a profit of 14.8 million lira. The company’s income increase is 85%, the gross income increase is 169% and the real operating profit increase is 245%. The company’s foreign exchange position gap has regressed to 1.9 million.

“We are happy to anounce a healthy, profitable and strong balance sheet.” Says Katmerciler Executive Board Deputy Chairman Furkan Katmerci, and reminded that they have reached the final phase in the investments aimed at the defense industry.

The leader in, biggest importer of, and only procurator of Turkish on vehicle material, Katmerciler On Vehicle Materials (KATMR), announced its consolidated financial outcomes for the 9 months in 2015. Presenting quite triumphant results, the company maintained its trend of healthy, profitable and strong growth during these nine months.

According to the statistics of nine months, Katmerciler raised its net profit of the year by 120%. The income has grown by 85%, gross income by 160% and real operating profit by 245%. The company managed to retract its foreign exchange position from 28.5 million lira to 1.9 as of December 31, 2014.  Preserving its export performance, Katmerciler’s export of nine months reached a 35.6 million dollar amount.

A record in profit increase, normalization in the foreign exchange gap

Increasing its consolidation income by 85% from 126 million lira to 234 million lira, the company also increased its real operating profit by 245% and saw a raise from 12 million lira to 42 million lira in comparision to the same period of last year. While the company’s interest, amortization and pre-tax profit (EBITDA) also raised by 234% and reached from 13 million lira to 44 million lira, its gross income saw a 169% raise and reached from 22.4 million to 60.4 million lira. Driving a net profit of 6.8 million lira during last years nine month period, raised its net profit by 120% this year and reached 14.8 million lira.

While the company reached a gross profit margin of 26% this year’s nine month period, this rate was 18% last year’s same period.

 Katmerciler substantially closed the gap in its balance-sheet, with the foreign exchange gap resulting from the adverse impact of the global crisis on currency rates, going from 28.5 million estimated on December 31, 2014 to 1.9 million lira as of the end of the first nine month period.

The company’s equity capital is 57.5 million lira as of September 2015, while the total asset of the company is worth 256 million lira. Being an export-led company, Katmerciler has exported to 49 countries and has a 35.6 million dolar expert revenue in the first nine month period.

Katmerci: “More profitable growth is yet to come,  the defense industry is in line”

In his evaluation regarding the 2015 first nine month period’s financial outcomes, Katmerciler Executive Board Deputy Chairman Furkan Katmerci reveals that the company has made a strong financial statement in accordance with their motto, “Sustainable, healthy and profitable growth” and adds, “We are happy to announce a performance that more than satisfies the investors’ expectations as a public access company and the sole representative of the industry in the stock market”.

Stating that the financial statements are the indicator to their trend of healthy and profitable growth, Katmerci also points out that the foreign exchange pressuring the balance-sheets in the previous years dur to the negative effects of the international economical depression has also brought to a normal level. “It is also pleasing that last year’s export level has been overtopped with an amount of 35.6 million dollars, despite the rapid increase in the currency over the last few months.” Katmerci states.

Expressing that the company has made big progress in accordance with the structural alterations and alternation plans, Katmerci remarks that the efforts for constituting the biggest and most powerful r&d center of the industry are in progress.  With the widest range of products in the industry, Katmerci explains that they aim to put the company forward in the national and international competition, and adds: “

“We have reached the final phase of the investments in the defence industry that we have been announcing to the public and our investors for a while. The efforts for opening up a factory in Ankara for the defence industry and its sub-industry, primarily the armored personnel carriers, are in progress.”

Furkan Katmerci, reminding that they have taken over all the shares in the Gimkat On Vehicle Materials company of which they had founded in partnership with Gimaex International approximately four years ago in order to manufacture fire trucks, adds: “We have failed to obtain the productivity we had expected from this partnership which we had in accordance with our strategy of partnering with companies that has experted certain products, and thus decided to terminate the partnership. However, we still believe in this strategy. At this point, Gimkat belongs to us only. From now on we will continue to manufacture fire trucks within both Gimkat and Katmerciler.”