Aksa Akrilik Increases Net Profit More Than Threefold

Aksa Akrilik More Than Triples Net Profit Aksa Akrilik got off to a strong start in 2022, tripling its revenues in the first quarter of the year. The company also increased its EBITDA figure fivefold and net profit by 4.5 times. Aksa Akrilik, one of the world's leading acrylic fiber producers, announced its financial results for the first quarter of 2022. According to the figures disclosed by the company, Aksa Akrilik achieved significant increases in revenue, net profitability and EBITDA. According to the disclosed figures, the company more than tripled its net profit.

First-Quarter 2022 Revenue Up 197 Percent Year-on-Year

Aksa Akrilik closed the first quarter of 2022 successfully. According to the announced figures, Aksa Akrilik's revenue for January-March 2022 increased by 197 percent compared to the same period of the previous year, reaching TRY 3,915 million. The company continued its upward trend in EBITDA figures as well, posting a 403 percent increase to reach TRY 922 million. Aksa Akrilik's net profitability in this period rose by 369 percent and reached TRY 625 million. The company's total investment amount implemented in the first quarter of 2022 was recorded as TRY 172 million. DowAksa, Turkey's first and only carbon fiber producer, also continued its success in the first quarter of 2022. DowAksa's revenue for the first quarter of 2022 increased by 162 percent compared to the previous year, rising to TRY 459 million.

"We Continue to Create Value for Our Stakeholders"

Cengiz Taş, Member of the Board of Directors and General Manager of Aksa Akrilik, made statements regarding the financial results of the first quarter of 2022. Stating that they have achieved sustainable success thanks to their value-added export performance and production diversity, Taş said: "With the important investments we made in the past and our corporate governance approach, we continue to create value for our stakeholders." Noting that they will invest in a new technical yarn facility, Taş said: "Taking into account the demand in our country and around the world, we are starting an investment in a new yarn facility with an annual production capacity of 7,000 tonnes. With a budget of 45 million dollars, we plan to commission our facility by the end of 2024 through discussions with machine manufacturers. When our investment is completed, we will continue to contribute to the country's economy by generating high levels of export revenue."

DowAksa to Join the Sector's Largest Players

The groundbreaking ceremony for the third phase investment of the DowAksa carbon fiber plant, established as a 50-50 partnership with DowChemical, had been held the previous week with the participation of Industry and Technology Minister Mustafa Varank. Relaying this information, Taş emphasized the importance of DowAksa, which will join the sector's largest players upon completion of the 100 million dollar investment, for Turkey and Yalova.