Kervan Gıda Announces First-Quarter Consolidated Results

Kervan Gıda, a soft candy manufacturer that exports to 85 countries, increased its consolidated sales revenue in the first quarter of 2022 by approximately 208.5% compared to the same period in 2021. Thanks to rising sales revenues and steady transformation efforts aimed at increasing productivity, the company's consolidated EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) margin reached 14.0%. Kervan Gıda General Manager Burhan Başar emphasized that the company maintained profitability and continued its growth trajectory despite rising costs and economic conditions. Kervan Gıda, which maintained the momentum gained from its public offering in the global market and expanded the number of countries to which it exports to 85, announced its financial results for the first three months of 2022. According to the disclosure made to the Public Disclosure Platform (KAP), the company's consolidated sales revenue for the first quarter of 2022 increased by approximately 208.5% compared to the same period in 2021, reaching TRY 997.9 million. Kervan Gıda, with a gross profit margin of 27%, achieved a consolidated EBITDA margin of 14.0%. The company's EBITDA, which stood at TRY 62 million in the same period of 2021, increased by 123.8% to TRY 139.7 million in the first quarter of 2022. Evaluating the first quarter results, Kervan Gıda General Manager Burhan Başar stated that company profitability was in line with expectations despite difficult economic conditions affected by the conflict in the neighboring region and globally rising raw material, logistics and energy prices.

"We will grow by streamlining"

Burhan Başar emphasized that productivity increases were essential across all operations consisting of more than 3,000 employees and 7 production centers, and that the company's focus was on growing by streamlining. Başar stated, "To gain advantage in a competitive global market, we do not rely solely on increasing sales revenues. We continue with our efforts to perform our work in the best way possible. We are successfully managing a major transformation process to ensure sustainable and profitable growth, find and eliminate losses, and establish lean principles in all processes."

''Goal is to enter the top five''

Kervan Gıda, which has the highest soft candy production capacity in Turkey, entered the "2022 Global Top 100 Confectionery Companies" list at the 82nd position, starting the year with high morale. Burhan Başar said that Kervan Gıda had been growth-oriented since its establishment and that its next targets were to enter the world's top five in its own category.