Kordsa Increased Sales by 26 Percent in the First Quarter
Kordsa, which produces a wide range of reinforcement materials ranging from tire reinforcement to space and aviation industry, announced that it closed the first quarter of the year with a strong capital structure. Continuing its sustainable growth in the first quarter of 2021, the turnover of the company amounted to 1.5 billion TL in the first 3 months of the year and its net profit was 144 million TL. In the same period, the profit before interest, depreciation, and tax was 268 million TL.
55-65 Percent Growth Expected in 2021
Kordsa announced its expectations for 2021. The company officials stated that they expected growth in the range of 35-45% in sales compared to 2020, and growth in the range of 55-65% in earnings before interest, tax and depreciation (EBITDA), including the effects of force majeure.
In this period, Kordsa started using recycled nylon yarns in tire reinforcement technologies within the scope of its sustainability goals. The sustainable nature of this technology, which is produced from recycled material, has also been registered with a certificate. The company gained the Global Recycled Standard (GRS) certification, which sets out the requirements for third-party certification of recycled content. While this technology is an important step taken by the company in line with its sustainability goals, it also contributes to the sustainability goals of Kordsa customers.
Kordsa continued to add new products and technologies to its portfolio in the field of composite materials, which are critical for the mobility market. Carbon fiber fabrics developed by Kordsa started to be used to strengthen the battery boxes of electric vehicles, which are seen as the future of mobility.
Continues to Develop New Technologies
The company continued its efforts to develop new technologies with the KraTos brand, which has the certificate of the first domestic product of the sector included the KraTos Pool Fiber products used in the fiber reinforcement product group, which has been used in pool plastering applications with the shotcrete additive KraTos Rebound Minimizer, which reduces rebound in tunneling and mining applications in addition to its innovative KraTos Fibers macro and micro synthetic fiber reinforcements. The company also introduced the KraTos Structural Reinforcement product group, which provides a practical and high-performance solution for the strengthening of buildings by reinforcing the columns of buildings
Expressing his satisfaction with the growth they have demonstrated in the first quarter of 2021, Kordsa CEO Ali Çalışkan evaluated the financial results and talked about Kordsa’s goals: ‘‘We are a global company established in 5 different countries. This multicultural structure, the flexibility brought by different ways of doing business, enabled us to adapt easily to changes and take action quickly. Thanks to our strong global supply and sales structure, we were able to manage pandemic conditions by eliminating regional problems with our strength in other regions.’’
