Kimpur Announces Dividend Distribution Decision

Kimpur Announces Dividend Distribution Decision Kimteks Poliüretan Sanayi ve Ticaret A.Ş. (Kimpur), Turkey's fully domestically-owned polyurethane systems manufacturer, has announced its dividend distribution decision. The company, which has increased production capacity by 98 percent over the past three years through competitive technologies, innovations and strategies from 65,000 tonnes to 129,000 tonnes, will distribute gross profit of TRY 151,240,257.38 and net profit of TRY 136,116,231.65 as of 17 June 2022. According to ISO 500 data published for 2020, Kimpur, a chemical industry company ranked 314th (350th for 2019), had committed to distributing 50 percent of distributable profit annually to investors with its public offering. As of 17 May 2022, the company held its first Ordinary General Meeting call for 2021 and made a Board of Directors decision regarding profit distribution.  

Dividends to be paid as of 17 June 2022

  The company, with net period profit of TRY 316 million according to financial statements prepared in accordance with Turkish Accounting Standards (TMS) / Turkish Financial Reporting Standards (TFRS), and net period profit of TRY 298 million according to financial statements prepared under tax legislation, will distribute gross cash profit of TRY 151,240,257.38 and net cash profit of TRY 136,116,231.65 as of 17 June 2022, following the deduction of general statutory reserves. The profit share payment for shares with nominal value of TRY 1 was set at TRY 1.24 gross and TRY 1.12 net.

Kimpur CEO Cavidan Karaca: "We are delighted to share 2021 profitability with our investors"

Stating that they expect to reach their budget targets in 2022 with respect to sustainable and profitable growth, Kimpur CEO Cavidan Karaca said: "Kimpur continues its aggressive growth both domestically and internationally. As a newly public company, we are delighted to share 2021 profitability with our investors. In the first quarter of 2022, we achieved strong performance with 126 percent revenue growth, 400 percent net profit growth and 28 percent exports. We are confident that we will continue 2022 with this high performance and become one of the enduring strengths of the chemical sector on Borsa Istanbul." he said.

Kimpur disclosed financials on 9 May

According to the financial statements disclosed by Kimpur on the Public Disclosure Platform (KAP) on 9 May regarding the first quarter of 2022; consolidated revenues reached TRY 981 million with 126 percent growth in the first three months of 2022. In the same period of 2021, consolidated revenues were TRY 434 million. Kimpur's gross profit in the first three months of 2022 increased 139 percent compared to the same period of the previous year to TRY 160 million; while Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) rose 18.5 percent to TRY 181 million. Kimpur, with 39 years of experience, saw period profit increase 400 percent compared to the first quarter of 2021, rising from TRY 35 million to TRY 175 million in the sum of operating revenues and other income.