Aksa Acrylic Breaks Record in Net Profitability Figures
Aksa Acrylic continued its successful financial performance in 2021 in the last quarter of the year. According to the announced results, the company will surpass TRY 1 billion 167 million with an increase of 165 percent in net profitability, while it will distribute a record dividend with a gross profit of TRY 1.85 per share.
Celebrating its 50th anniversary, the world’s leader and Turkey’s only acrylic fiber producer, Aksa Acrylic announced its financial results for 2021. According to the statement announced, the company maintained its successful performance throughout the year and recorded an increase in turnover, EBITDA and net profitability once again.
Turnover Increased 8 Billion TRY
According to the results announced, Aksa Acrylic’s turnover increased to TRY 8 billion 348 million 157 thousand, an increase of 103 percent compared to the previous year. The EBITDA level of the company reached TRY 1 billion 701 million 541 thousand with a record increase of 85%. Aksa Acrylic’s net profitability in 2021 reached TRY 1 billion 167 million 208 thousand, achieving a record increase of 165 percent. The investment expenditure of the company, which realized 90 percent capacity utilization, was recorded as TRY 627 million.
DowAksa maximizes its contribution to profitability in 2021
DowAksa, Aksa Acrylic’s joint venture with 50 percent ownership, contributed to the company’s net profitability at a record level in 2021. Turkey’s first and only carbon fiber producer, DowAksa, contributed TRY 44 million 863 thousand to Aksa Acrylic’s consolidated results with an increase of 498 percent, while it managed to increase its turnover to TRY 981 million 357 thousand with an increase of 68 percent. With its new investments, DowAksa’s positive impact on Aksa results is expected to continue exponentially in the coming years.
Announced that record dividends will be distributed to shareholders
Aksa Acrylic Board Member and General Manager Cengiz Taş said that exports of value-added products were effective in positive financial results. Stating that acrylic fiber is the reason for preference in textile and technical products thanks to Turkey’s strategic location, Taş reported that they get returns on their new investments with the diversity in production. Taş continued, “Full of uncertainties, 2021 has been a year of strong figures for the Turkish industry. Although there was an increase in input prices, at Aksa Acrylic, we managed to keep our costs under control. Thanks to our exports, we increased our figures to a record high as of the last quarter of the year. In line with our vision of creating value for our stakeholders, we will distribute a gross dividend of TRY 1.85 per share. In 2022, we will continue to walk with determined steps towards our targets of sustainable growth and high profitability”.
