Kordsa Creates Value Through Measures Taken Against the COVID-19 Pandemic

In the first quarter of 2020, Kordsa ensured business continuity across all geographic regions where it operates through strategic and operational decisions made from the first days of the pandemic. In Q1 2020, Kordsa's revenue was TRY 1,199 million, with net profit of TRY 59 million. During the same period, earnings before interest, tax, amortisation and depreciation reached TRY 153 million.

Kordsa Chief Executive Officer Ali Çalışkan said: "As a world, we are going through a process that is both challenging and instructive. Our first step during this period was to ensure the health and safety of our employees, which is our priority. We continue to maintain our customer relationships very closely with both our global and local regional sales networks. We conduct our production processes together with our customers. We are certainly experiencing the advantages of a strong global supply and sales structure. On the other hand, even during such challenging times, we held our General Assembly meeting and met with our investors to distribute dividends. During this period we are learning the value of unity, support and cooperation. As Kordsa reinforcements, we have become more connected to each other than ever. With our flexible and agile structure, I am confident that we will overcome the effects of this difficult period while minimising the impact on our company, our employees and our customers. Today, we analyse every day how we can benefit from such a crisis occurring on a global scale and affecting both health and economy, and we are working on our technological capabilities for the future. If today we can manage the crisis as "One strong Kordsa" across our 12 facilities, it is because of our employees' dedicated work. Some of our employees worked from their homes, while others continued their work from our offices and production facilities, ensuring the continuity of our business. I would like to thank each and every one of them individually, as well as our business partners and customers, for making this possible and for continuing to generate economic value for the ecosystem we are part of. I hope we return to healthy times as soon as possible."