3,85 Billion TL Profit From Kardemir!

3,85 Billion TL Profit From Kardemir!
3,85 Billion TL Profit From Kardemir!

Our company Kardemir A.Ş., which is the pioneer and locomotive company of the Turkish industry, completed the year 2021 with the highest profitability in its history. Reaching a net profit of TL 3,85 Billion, the Company reported its financial results to the Public Disclosure Platform (KAP) as of 01/03/2022.

The statement made by Kardemir on the subject is as follows;

Continuing the upward momentum it achieved in the last quarter of 2020 throughout 2021, our Company increased its EBITDA (EBITDA) by 2020% compared to 288, increasing its EBITDA to approximately TL 2021 billion in 4,9. Again, compared to the previous year, it increased its sales revenues by 96% to 14,76 Billion TL. Having reached the level of TL 2,75 Billion in net cash, our Company has increased its financial strength and continued to give confidence to its investors in any market conditions that may arise or may arise.

Despite the uncertainties in the world steel markets and raw material supply, our Company, continuing its activities with the principle of financial discipline and efficient production, continued its economic rise by overcoming all global problems. Having sustainable targets in terms of profitability as well as employment and production, Kardemir has proven itself in the field of export as well as its domestic sales. Continuing to work on product development for the production of value-added products, our Company has started to struggle in the international arena by adapting quickly to the developing and changing market conditions. Our Company has managed to more effectively manage its currency-dependent risks and liquid assets with “Hedge Accounting”, which is also used by Turkey's leading publicly traded companies. Our factory, which has the first and only railway rail and wheel production facilities in our country and the few in our region, is rapidly advancing towards becoming a global player with its export activities, while offering our country the opportunity to import substitutes with the products it produces. Our company has given importance to investments in digital infrastructure and data management similar to S4HANA by taking rapid actions in the face of technological and digital developments. Our Company, which did not interrupt its investments during the period of high profitability, continues uninterruptedly with plant investments for production increase such as converter capacity increase, blast furnace reline work, blast furnace level 2 project, grinding machine and 30 MW power plant.

Our Company, Kardemir A.Ş., which did not interrupt its investment processes, also gave importance to dividend studies for its shareholders, and TL per share, with a total gross of 0,8772 TL (One Billion Turkish Lira) by the Kardemir Board of Directors to be presented to the General Assembly. decided to distribute profits. If approved by our General Assembly, it will be the highest dividend distribution planned by our Company to Kardemir shareholders after privatization. Our Company, which contributes to the regional and city economy in addition to our national economy with its social responsibility projects, continued to create confidence in the markets with its strong and stable management approach and environmentally friendly production approach. Kardemir, whose shares are all traded on Borsa Istanbul (BIST), will continue to maintain its domestic production domestic supply policy. We would like to thank all our employees, stakeholders and investors who contributed to our achievement of historical record profitability in the financial period of 2021.

Kardemir A.S. Board of Directors

The Company's Financial Figures for 2021 were as follows:

  • Consolidated net asset : 21.814.969.525 TL
  • Consolidated turnover : 14.764.791.145 TL
  • EBITDA: TL 4.908.895.714
  • EBITDA Margin: 33,2%
  • EBITDA TL/ton: TL 2.133
  • Consolidated net profit for the period: TL 3.852.707.219

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