Sapro Closes 2023 with TRY 3.2 Billion in Revenue

Sapro closed 2023 with a turnover of TRY 3.2 billion. Sapro General Manager Murat Gönül, noting that 75% of turnover came from exports, emphasized that their growth exceeded sector averages and provided comments on their 2024 targets. Sapro, which is a leader in the production and export of wet wipes for Turkey's and the world's major retail companies, for which it manufactures private label products, announced its 2023 financial results. [caption id="attachment_159163" align="aligncenter"] Murat Gönül[/caption]

Exports to more than 65 countries across 6 continents

Sapro General Manager Murat Gönül, stating that 75% of their turnover came from exports, noted that they achieved 34% growth in 2023 compared to 2022 and continued as follows:

Despite the tight global financial conditions at global scale, contracting global trade, the earthquake disaster in our country and economic conditions, Sapro continued to demonstrate strong growth performance. Our objective is to ensure that growth is not only strong but also sustainable. For sustainable growth, we follow a growth strategy focused on investment, employment, production and exports. For this reason, Sapro and our group companies have realized approximately USD 50 million in investments over the last 3 years. With nearly 1,000 employees, our production facilities in Turkey and Bulgaria, and 8 sales representatives and 9 warehouses worldwide, we export the products we manufacture to 65 countries across 6 continents. We are Turkey's clear export champion in the wet wipes export category. Sapro alone accounts for 70% of Turkey's wet wipes exports. Gönül, noting that the company ranks among Turkey's firms with the highest R&D investments in their sector, stated: "Over the last 3 years, in addition to the line investments through which we increased our Lotus fabric production capacity by 100% and wet wipes production capacity by 40%, we have realized all our planned investments, including smart warehouse investments designed with the latest technology and establishing one of Turkey's select industrial hygienic water treatment facilities providing superior hygiene levels. In 2023, we obtained a EUR 10 million working capital loan from a fund provided through a joint venture between the European Bank for Reconstruction and Development (EBRD) and Turkish Industrial Development Bank (TSKB) to enable Newipe® production. Our company's target for 2024 is to conduct production activities that will utilize 100% of the capacity increase provided by our investments. We plan to achieve growth in employment and exports at the same rate as the capacity increase," he stated.