Kimpur Posts TRY 150 Million Net Profit

Leading polyurethane company Kimpur has announced its Q1 2023 results. The company, which has 40 years of experience, reported consolidated revenue of TRY 1.619 billion in the first three months of 2023, representing a 65% increase according to financial statements disclosed on the Public Disclosure Platform (KAP). In the January-March 2023 period, total polyurethane systems sales to domestic and export markets reached 35,000 tons, a 46% increase compared to Q1 2022. Kimpur generated TRY 1.619 billion in consolidated revenue during the first quarter. Consolidated revenue in the same period last year stood at TRY 981 million. Kimpur's gross profit in Q1 2023 increased 81% year-over-year to TRY 291 million, while EBITDA rose 25% to TRY 227 million. Alongside these significant increases in profitability and consolidated revenue, Kimpur maintained its success in balance sheet management. The company maintained its Net Financial Debt/EBITDA ratio at 1. Additionally, Kimpur's total assets increased 11% from year-end 2022 to TRY 5.073 billion.

Three-month net profit at TRY 150 million

Kimpur's operating profit increased 24% from Q1 2022, rising from TRY 178 million to TRY 220 million. In the January-March 2023 period, total polyurethane systems sales to domestic and export markets reached 35,000 tons, a 46% increase compared to Q1 2022. The company's export and export-recorded sales account for approximately 31% of total sales. Kimpur CEO Cavidan Karaca, while evaluating the financial results, also emphasized the company's sustainable growth strategy. Karaca stated that investments in Düzce are proceeding rapidly and that the company has significantly increased its capacity on its path to becoming a global player, and made the following assessment regarding the company's Q1 performance this year: "The successful results we achieved in the first quarter of 2023 once again demonstrate Kimpur's leading position in the sector. We will continue to achieve solid growth and profitability in our domestic and export markets throughout 2023. With approximately 35,000 tons of sales in Q1 2023, our company demonstrated above-budget performance in sales revenue and net profitability. Following the unfortunate earthquake in February that affected the Southeastern Anatolia region, our company mobilized all resources to meet the resulting domestic earthquake container production needs and established significant sales connections with major panel manufacturers. We will continue our strong performance by further increasing our exports throughout 2023. We will pursue our growth strategy while prioritizing customer satisfaction and emphasizing innovation and quality. As Kimpur, we remain steadfast in our objectives to strengthen and sustain our market leadership and create social, environmental and economic value for a sustainable future."