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Kordsa Global estimates an increase of 10 to 20% in its sales by the end of 2015.

Kordsa Global estimates an increase of 10 to 20% in its sales by the end of 2015.

Kordsa Global increased its gross profit by 27% in the first quarter.

Having increased its profitability by 145 percent in 2014, Kordsa Global, the global leader of the reinforcement materials industry, maintained its profitability during the first quarter of 2015 also.

The gross profit increased by 27% compared to the previous quarter, while the profit from continuing operations increased by 11%.

Kordsa Global, the global leader of the reinforcement materials industry, announced its financial results for the first quarter of 2015. Compared to the previous quarter, the total sales of Kordsa Global increased by 27 percent, resulting with a gross profit of TL 60 million and the net profit of the company has increased to TL 13,5 million. Also during the same period, the real operating profit is realized as TL 26,7 million.

Evaluating the results, Kordsa Global CEO Cenk Alper highlighted that they are satisfied with the success in the first quarter and the results are in line with their budget. He also stated that during 2015, they would maintain their steady growth target in the markets, where they are the leader.

Alper indicated that one of the most important successes of Kordsa Global in 2015 is moving into the 2nd place from 3rd in the world ranking of high density polyester market by value. He added by saying that they made a strong entry into the construction and composite markets counting on their 40 plus years of experience in the rubber reinforcements market, and received very positive feedback from the market.

Cenk Alper also shared his expectations pertaining to 2015 mentioning that they expect a revenue increase of 10-20%, and an EBITDA increase level around 25-35%.

Cenk Alper said:

"Kordsa is in a significant year of leap. Our aim is to open the Composite Technologies Excellence Center at the beginning of 2016, where we will be working in cooperation with Sabancı University. We are working with full pace for this. We will be able to produce advanced composite material technologies integrated with nanotechnology, which will create a transformation in various industries from aeronautics to automotive. We think this is investment is important not only for Turkey, but also for the region.

The Polyester Yarn and Cord Fabric Plants in Indonesia with value of US$ 100 million that came into stream at the end of 2014 have been important investments for Kordsa. The ramp up of this plant is planned in the next 3 years. The products of this strategic investment shall enhance our existence in Asia Pacific while improving our competitive cost position.

Furthermore, the devaluations in emerging currencies provided an additional support to our cost position. Kordsa with revenues of approximately 3/4 in US Dollars and 1/4 in Euros have been positively affected by this situation."

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About Kordsa

Established in 1973 as a subsidiary of Sabancı Holding, Kordsa is the leading manufacturer of industrial nylon and polyester yarn, tire cord fabric and single end cord. The success story started in İzmit-Turkey in 1973 with Sabancı Holding’s tire cord manufacturing plant investment.

© 2016 Kordsa Global Endüstriyel İplik ve Kord Bezi Sanayi ve Ticaret A.Ş.