TürkTraktör Extends Uninterrupted Market Leadership to 18th Year

TürkTraktör, Turkey's longest-established tractor manufacturer in the automotive sector, announced its 2024 financial results.

TürkTraktör rolled 43,611 tractors off the production line in 2024, accounting for 60 percent of tractor production in Turkey and 73 percent of exports. According to TürkTraktör's 2024 financial data, total revenue reached TRY 66,970 million, with operating margin and EBITDA margin at 11.9 percent and 14.7 percent respectively, and net profit of TRY 5,741 million.

TürkTraktör sold 31,974 tractors on the domestic market in 2024, while achieving 12,516 units in exports. With its two brands, New Holland and Case IH, commanding a 46.2 percent market share, TürkTraktör extended its continuous market leadership to an 18th consecutive year. Seeking to extend its market influence into agricultural equipment manufacturing, TürkTraktör signed a Share Purchase Agreement in 2024 regarding the full acquisition of shares in Kayhan Ertuğrul Makine Sanayi ve Ticaret A.Ş., its affiliate Kayhan Ertuğrul Tarım Sanayi ve Ticaret A.Ş., and Terramak Tarım Makinaları Dış Ticaret A.Ş. Completion of the process awaits approval from the Competition Authority. During this period, TürkTraktör also strengthened the cab assembly line at its Erenler facility, and commenced trial production at its new cab frame manufacturing facility at the end of 2024.

Evaluating the 2024 financial results, TürkTraktör Chief Executive Officer Matthieu Séjourné said: "On the occasion of our company's 70th anniversary, which holds special significance for us in 2024, I extend my thanks to all TürkTraktör employees for their contribution to maintaining our leadership position. In such a challenging period, with the market contracting by 18 percent following record results in 2023 and normalizing trends, our New Holland brand ranked first while our Case IH brand came in second. The dedication of our team in adapting to these new market conditions enabled us to achieve these results and prepare for the future. As an organization that believes in the long-term high potential of Turkish agriculture, we continue on our path with unwavering determination and the enthusiasm of the first day toward our goal of preparing agriculture and cities for the future through our new investments. In light of these successful results, I express my gratitude to our farming customers who remain loyal to our brands and choose our products, as well as to all our dealers and suppliers for their contributions."