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Composite reinforcement firm Kordsa Q1 revenues surge 24%

14 May '14

3 min read

Kordsa Global, the world leader in reinforcement industry, increased its revenues by 24% in the first quarter compared to same period of last year and reached 443 million TL. Net profit of the company is 35.9 million TL (March 2013: 0.4 million TL).

Kordsa Global, the world leader in reinforcement industry, announced 2014 first quarter results. Compared to the same period of last year Kordsa Global increased its sales by 24% and reached 443 million TL sales revenue. Net profit of the company reached 35.9 millionTL. Profit before tax, interest and amortisation (EBIT) was 66.7 million TL in the same period, which corresponds to an increase of 209%.

Cenk Alper, Chief Executive Officer, commenting on the results, underlined the role of operational efficiency, discipline in business processes and commercial excellence in the success of the first quarter. Mentioning also the positive effects of the exchange rate on the profits, Alper stated that they will continue in this path throughout the year.

CEO further said, “As Kordsa global we have recently focused on operational efficiency, especially we targeted at controlling our fixed costs. Now we are harvesting the results of this strategy. Despite the shifting sands in the global economy and the shrinkage in the industry accordingly, with our modest, quick and active teams we reached successful figures through improving efficiency in our internal processes. On the other hand, through focusing on marketing activities we acquired commercial excellence, which also has an effect of profits.

As a supplier of world’s top tyre producers for more than 40 years and a world leader in reinforcement industry we come to this status by always targeting the better. With this vision we will continue this positive course and plan to increase our revenues by 20% at the end of the year compared to 2013.”

ABOUT KORDSA GLOBAL

Kordsa Global is a leading enterprise that serves the rubber, composite, and construction markets by providing reinforcing products. The company, with headquarters in Istanbul, Turkey, enhances its commercial leadership with its technological know-how, operating 9 businesses in 9 countries distributed over 5 continents, and employing approximately 4000. Kordsa Global's sales figure reached TL 1.5 billion in 2013.

The success story of Kordsa, the world's leading nylon 6.6 and polyester industrial fiber, tire cord and its only cord producer, started in 1973 with a tire cord factory investment in Izmit, Turkey. The Company, in which Haci Ömer Sabanci Holding, one of the leading conglomerates in the Turkish economy, has a 91.1% shareholding, exhibited continuous growth and with its global production capacities, continues to lead the sector, rapidly adapting its operations to changing market dynamics, while at the same time searching for new markets. Strengthening its R&D investments, the company has introduced innovative high-performance and green products to the sector and with the reinforcement solutions that it has developed, it has begun to catch the interest of the composite and construction sectors.

Kordsa Global