Kordsa Continues to Create Value

Kordsa continued to create value for its stakeholders with the precautions taken against the COVID-19 pandemic outbreak that marked the first quarter of 2020.

In the first quarter of 2020, in which the effects of the COVID-19 pandemic outbreak were felt worldwide, Kordsa succeeded in maintaining its business continuity in all geographic areas in which it operates, due to the strategic and operational decisions taken from the first day of the pandemic outbreak.

In the first quarter of 2020, Kordsa’s turnover was 1,199 million TL and net profit amounted to 59 million TL. In the same period, profit before interest depreciation and tax amounted to 153 million TL.

Kordsa, which operates with the vision of ‘Our passion is to strengthen the life’, continued to help by providing both the financial support and the technological infrastructure in this challenging period, in order to strengthen communities in all geographies where the company operates including particularly Turkey. Kordsa believes that the crisis will be overcome altogether by strengthening all its stakeholders, especially its employees, during the crisis periods, and has supported its customers allowing them to continue their business without interruption since the first day of the epidemic by being in close contact with them.

Kordsa CEO Ali Çalışkan expressed the following regarding the troublesome period that we are going through: ‘‘We are going through both a compelling and instructive process globally. To guarantee the health of our employees was the first step that we took in this period. We continue to maintain our customer relations through our global and local sales networks very tightly. We sustain our production processes with our customers. We undoubtedly experience the advantages of a strong global supply and sales structure. On the other hand, even in such a difficult period, we came together with our investors and realized our profit sharing during the General Assembly Meeting. In this troublesome period of time, we learn to be one, to support, to join forces. As Kordsa boosters, we are more connected to each other than ever before. I strongly believe that we will survive the effects of this challenging period with our flexible and agile structure by minimizing for our company, employees, and customers. Today, we analyze every day how we can provide benefit to the community during such a crisis that takes place on such a global scale and affects both health and economy, and work on our forward-looking technological opportunities.

Today, if we are able to manage the crisis in our 12 facilities as ‘One Strong Kordsa’, it is due to the devoted endeavors of our employees at work. Some of our employees continued their work from their homes, some from our offices and production facilities, ensuring the continuity of our operational processes. I would like to thank each of them for making this possible and for continuing to produce economic benefits for our ecosystem, especially our business partners and customers. I wish to return to healthy days as soon as possible.’’