Kimpur Reports TRY 3.4 Billion in Consolidated Revenue

Kimpur announced its financial results for the third quarter of 2022. In the first 9 months of the year, Kimpur increased its net profit by 430% and achieved consolidated revenue of TRY 3.4 billion. According to the financial statements disclosed on the Public Disclosure Platform (KAP), Kimpur's consolidated revenues in the first 9 months of 2022 increased by 121% to TRY 3.4 billion. Kimpur's gross profit in the first 9 months of 2022 increased by 133% compared to the same period of the previous year to TRY 528 million; Interest, Depreciation and Tax Before Earnings (EBITDA) rose by 149% to TRY 547 million. Along with significant increases in profitability and consolidated revenues, Kimpur also continued its success in balance sheet management, reducing its Net Financial Debt to TRY 707 million, below the June 2022 period level; and maintained its Net Financial Debt/EBITDA ratio below 1 (September 2022: 0.81, December 2022: 0.88).

Strong growth in net profit

Kimpur, a member of the Investor Relations Association where Turkey's leading publicly traded companies are represented, saw its Operating Profit increase by 155% compared to the first 9 months of 2021, rising from TRY 210 million to TRY 535 million. In the January-September 2022 period, Kimpur sold approximately 75,000 tons of polyurethane systems to domestic and export markets. The share of exports and export-registered sales in total sales increased to 36% in the third quarter, while this ratio rose to 32% for the aggregate of the first 9 months of the year.  

CEO Cavidan Karaca, noting that the company will significantly increase its capacities through its investments on the path to becoming a global player and with additional land purchases, and that investments in Düzce planned to be launched at the beginning of 2023 are proceeding at full pace, made the following assessments regarding the Company's first 9-month performance:

"In the first 9 months of 2022, our consolidated revenues increased by 121% to TRY 3.4 billion and our gross profit increased by 133% compared to the same period of the previous year to TRY 528 million. Our Interest, Depreciation and Tax Before Earnings (EBITDA) rose by 149% to TRY 547 million. In the third quarter of 2022, with sales of approximately 24,000 tons, our company demonstrated performance above budget in sales revenues and net profitability. We anticipate that the company will further increase its exports throughout 2022 and continue its strong performance."    

Drawing attention to the fact that its R&D centers are composed of a well-equipped team and indicating that with the SASAD membership approved in recent weeks, collaborations and projects aimed at the defense industry have increased, Kimpur CEO Cavidan Karaca made the following statements regarding SASAD:

"As a company holding an R&D Center certificate from the Ministry of Industry and Technology since May 2017, thanks to our 28-person R&D team of experts in the sector, we continue to produce sustainable and high value-added products, and we are signing innovative projects and collaborations both with universities and our customers. The defense industry has also entered our radar in this way. We are proud to serve our defense industry and our country with our current projects and new projects we are beginning to add to our portfolio."   Kimpur, through its competitive advantage technologies, innovations and strategies, increased its production capacity by 98% over the last 3 years, bringing it from 65,000 tons to 129,000 tons; in the same period, sales volume increased by 100%.