Kimpur increases net profit by 232% in first quarter of 2024

Kimpur released its financial results for the first quarter of 2024. According to the data, the company recorded strong growth in the first three months and increased its net profit by 232%. Kimpur, which has a 41-year history, shared its first-quarter 2024 financial results on the Public Disclosure Platform (KAP). According to the disclosed results, the company generated consolidated revenue of TRY 2.415 billion in the first three months. Kimpur's net profit reached TRY 104 million, while export and export-credited sales volume amounted to 10,674 thousand tonnes, and domestic sales were recorded at 23,260 thousand tonnes. Kimpur's first-quarter EBITDA rose to TRY 360.5 million. According to the company's results before inflation accounting (TMS 29), net profit for the first three months of 2024 was TRY 239.9 million with a 59% increase, while the net profit figure after inflation accounting was disclosed as TRY 101.3 million with a 238% increase compared to the same period of 2023. Kimpur continued to achieve significant successes in management in 2024. At the end of March, net financial debt stood at TRY 776 million (TRY 787 million at end of 2023), and the net financial debt/EBITDA ratio was reduced to 0.45 as of March 2024. Kimpur's balance sheet total assets increased to TRY 10.602 billion with a 4% rise compared to the previous year. Cavidan Karaca, CEO of Kimpur, made statements regarding the first three-month performance. Karaca said, "Today we export to more than 50 countries across 5 continents and rank among Turkey's largest 500 industrial enterprises. We completed the first quarter of the year in line with our targets. We are pleased to contribute to both our country and our stakeholders with our 41-year-old rooted history and strong financial performance."