Kimpur Achieves Record-Level Profit

Kimpur Achieves Record Profit Levels Kimpur announced its financial results for the second quarter of 2023. Increasing its second quarter net profit by 148% compared to the previous year, Kimpur generated consolidated revenue of TRY 3.6 billion in the first half of 2023. Kimpur, one of the leading companies in the polyurethane sector with 40 years of experience, announced its results for the second quarter of 2023. According to financial statements disclosed on the Public Disclosure Platform (KAP), Kimpur's consolidated revenues for the first 6 months of 2023 reached TRY 3.6 billion with a 65% increase (first 6 months of 2022: TRY 2.2 billion). Kimpur's gross profit for the first 6 months of 2023 increased by 93% compared to the same period of the previous year, reaching TRY 732 million (Gross profit margin first 6 months of 2023: 20.3%; same period 2022: 17.3%); while Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) rose by 72% to TRY 716 million (EBITDA margin first 6 months of 2023: 19.9%; same period 2022: 19.0%).

Record level period net profit

Kimpur's period profit increased from TRY 356 million to TRY 598 million with a 68% increase compared to the first half of 2022. During January–June 2023, with the sale of 72 thousand tons of polyurethane systems in domestic and export markets, Kimpur achieved strong growth of 42% in volume compared to the first half of the previous year. In addition to significant increases in profitability and consolidated revenues, Kimpur continued its success in balance sheet management, maintaining its Net Financial Debt / EBITDA ratio below 1 at 0.77 level.

Kimpur Chief Executive Officer Cavidan Karaca made the following assessments regarding the first 6-month performance:

''With our 40 years of experience, we are proud of the strong performance we demonstrated in the first half of 2023 as a leading company in the polyurethane sector. During this period, we achieved record-level success in gross, operational and net profitability and generated consolidated revenue of TRY 3.6 billion. As in previous years, we are continuing our steps resolutely in line with our goal of becoming a global player in the future. We are moving toward our targets with rising profitability and strategic investments. With our new production hub in Latvia, we are strengthening our position in the European market, while we have also started initial production at our new production facility built in Düzce. Through these investments, we aim to significantly increase our production capacity and enhance our competitiveness. Additionally, we are continuing our research and development work without slowing down. While developing alternative solutions for our existing polyurethane systems in line with our customers' needs, we are improving our product lifecycle and diversifying our sustainable product range. By developing projects for the defense industry, we aim to contribute to the development of Turkish defense industry and provide the highest level of support to our security forces.''