TÜRK TRAKTÖR VE ZIRAAT MAKINELERI
TürkTraktör Announcing 2022 Q3 Financial Results
TürkTraktör, the first manufacturer of the Turkish automotive sector and Turkey's leading company in the agriculture mechanization, announced the third quarter financial results. TürkTraktör broke a new record in the first nine months compared to 2021, exporting 12,535 units. According to the third quarter financial results, TürkTraktör also increased its net profit by 94% over the same period of 2021 to TRY1 billion 612 million. Moreover, the operating profit margin and the EBITDA margin were realized as 14.2% and 15.2%, respectively. TürkTraktör achieved a total turnover of TRY14 billion 616 million with an increase of 82% compared to the third quarter of 2021.
Emphasizing the continuous achievements of TürkTraktör in exports, Aykut Özüner, TürkTraktör CEO, said: "TürkTraktör broke an all-time record in the third quarter. According to the financial results, we exported 12,535 tractors. As TürkTraktör, we are also proud to realize 89% of the total tractor exports of Turkey, contributing to the development of the Turkish economy. We will continue to work for Turkey with exports and support the Turkish farmers and agricultural sector."
Talking about TürkTraktör's leading position in the Turkish tractor market for 15 years in a row, Özüner added: "Today's conditions have proved the strategic importance of agriculture and producers. What's more the agriculture of future demands more efficient and sustainable practices. That's why we always try to better ourselves and are committed to help our farmers in their journey to the future with modern methods and equipment. We put our hearts into our work to keep our commitment."
Exports Increasing by 10%
TürkTraktör manufactured 31,166 tractors according to the third quarter financial results of 2022. The Company completed the sale of 19,202 tractors to the domestic market while exporting 12,535 units to the global markets with an increase of 10% in exports compared to 2021. According to TurkStat data as of the end of September, TürkTraktör's New Holland brand maintained its leadership in the market while CASE IH, TürkTraktör's premium brand, continued its success, recognized as the third best brand in the market.
Emphasizing the continuous achievements of TürkTraktör in exports, Aykut Özüner, TürkTraktör CEO, said: "TürkTraktör broke an all-time record in the third quarter. According to the financial results, we exported 12,535 tractors. As TürkTraktör, we are also proud to realize 89% of the total tractor exports of Turkey, contributing to the development of the Turkish economy. We will continue to work for Turkey with exports and support the Turkish farmers and agricultural sector."
Talking about TürkTraktör's leading position in the Turkish tractor market for 15 years in a row, Özüner added: "Today's conditions have proved the strategic importance of agriculture and producers. What's more the agriculture of future demands more efficient and sustainable practices. That's why we always try to better ourselves and are committed to help our farmers in their journey to the future with modern methods and equipment. We put our hearts into our work to keep our commitment."
Exports Increasing by 10%
TürkTraktör manufactured 31,166 tractors according to the third quarter financial results of 2022. The Company completed the sale of 19,202 tractors to the domestic market while exporting 12,535 units to the global markets with an increase of 10% in exports compared to 2021. According to TurkStat data as of the end of September, TürkTraktör's New Holland brand maintained its leadership in the market while CASE IH, TürkTraktör's premium brand, continued its success, recognized as the third best brand in the market.
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Türk Traktör ve Ziraat Makineleri AS published this content on 23 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 December 2022 13:54:09 UTC.
