Tofas T?rk Otomobil Fabrikasi A.S. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
October 27, 2021 at 09:36 am EDT
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Tofas T?rk Otomobil Fabrikasi A.S. reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported sales was TRY 5,594.87 million compared to TRY 6,860.28 million a year ago. Net income was TRY 580.59 million compared to TRY 510.32 million a year ago. Basic earnings per share from continuing operations was TRY 1.16 compared to TRY 1.02 a year ago.
For the nine months, sales was TRY 19,606.07 million compared to TRY 14,359.1 million a year ago. Net income was TRY 2,064.43 million compared to TRY 1,144.97 million a year ago. Basic earnings per share from continuing operations was TRY 4.13 compared to TRY 2.29 a year ago.
Tofas Turk Otomobil Fabrikasi AS (Tofas) is a Turkey-based company, which manufactures, exports and sells passenger cars and light commercial vehicles under licenses of Fiat Chrysler Automobiles SpA (Fiat). Tofas, which is a joint venture of Koc Holding AS and Fiat, also produces various automotive spare parts used in its automobiles. Its subsidiaries include: Koc Fiat Kredi Finansman AS, which offers consumer financing and Fer Mas Oto Ticaret AS, which is engaged in the trading of automobiles and spare parts. Tofasâs manufacturing facilities are located at Bursa. Tofas undertakes the representation of the following brands in the domestic market: Fiat, Alfa Romeo, Lancia, Jeep, Maserati and Ferrari.