Kaleseramik Posts TRY 809 Million Profit

Kaleseramik reported its financial results for the first three quarters of 2023. Continuing the strong growth performance from the first two quarters into the third quarter, Kaleseramik's net profit for the first 9 months reached TRY 809 million. Reflecting its successful performance in sales, the company increased its net sales from TRY 4.2 billion in the first 9 months of 2022 to TRY 5.4 billion in the same period of this year. Kaleseramik, the Republic's first ceramic factory, disclosed its financial results for the first 9 months of 2023. According to disclosures made on 27 October 2023 to the Public Disclosure Platform (KAP), Kaleseramik's net profit for the first 9 months of 2022, which was TRY 499 million, showed a significant increase in the same period of 2023, reaching TRY 809 million.

Kale Grubu Finance Vice President – CFO Haluk Alperat noted that Kaleseramik continued its strong performance in the third quarter and made the following statements:

"2023 is a very special year for our company and group, as well as for our country. In this special year when we celebrate the 100th anniversary of the founding of our Republic, we took significant steps such as the public offering and putting the new Kalesinterflex production line into service. Our company's performance in the first 9 months of 2023 also accompanied these positive developments. Our net profit, which was TRY 499 million in the first 9 months of 2022, increased significantly to TRY 809 million in the same period of 2023. Similarly, our net sales, which amounted to TRY 4.2 billion in the first 9 months of the period between 1 January and 30 September 2022, reached TRY 5.4 billion in the same period of this year. During this period, our total assets also increased approximately 2.5 times, making a significant leap. Our total assets, which were TRY 4.3 billion in the first 9 months of last year, exceeded TRY 10 billion in the same period of this year. With the contribution of our new investments, we aim to continue this success in a sustainable manner."

Kaleseramik General Manager Altuğ Akbaş emphasized that they are approaching their year-end targets step by step and are confident they will close the year beyond expectations, continuing his remarks as follows:

"As Kaleseramik, in 2023 we focused on new investments and collaborations along with a successful public offering program, as well as work in the areas of sustainability and digitalization. In this context, we made purchases of tangible and intangible fixed assets amounting to TRY 704.5 million in our investment plan for the first 9 months of 2023. In line with our strategic objectives, approximately TRY 435.5 million of this amount was allocated to new and revenue-generating investments in Granite Slabs, while the remaining portion was directed to investments in vitrified ware, technology renewal, LPG facilities, molds and IT. We completed the investment in our new large-size porcelain slab production line and began series production in August following its official opening on 27 July 2023. Additionally, our feasibility studies and application process regarding our solar power plant investment are ongoing. We aim to strengthen our journey toward a better world and our 'Look After the World' movement by supporting our sustainable production technology with clean energy.

The furniture product group recorded our largest production increase

In the first 9 months of 2023, we produced 29,051,920 square meters of ceramic coatings and 59,970 units in vitrified ware. In the furniture product group, our production reached 55,980 modules, representing a 33.9 percent increase compared to the same period of the previous year.

The future horizon our Republic opened for us plays a major role in our success

2023 carries tremendous significance for both us and our country. Because we celebrate the 100th year of our Republic, which is the guarantee of our strong future. As the first ceramic producer in the history of our Republic, for 66 years we have worked tirelessly for our country and people, drawing on the words of our Great Leader Gazi Mustafa Kemal Atatürk: 'He who loves his country most is the one who does his duty best.' At the point we have reached today, the future horizon our Republic has opened for us and the environment to compete with the world play a major role. In the new century of our Republic, we will continue to work with all our strength to carry this flag we hold in the ceramic sector even further with the strength and confidence we received from it."