Sun Tekstil Increases Net Profit by 159% in 2024
In 2024, the consolidated net profit of Sun Tekstil and its subsidiary, Ekoten Tekstil, achieved significant financial success, reaching 904 million TL with a 159% increase.
Commenting on the financial results for 2024, Sun Tekstil’s Chairman of the Board, Elvan Ünlütürk, said, “As we leave behind a year marked by continuing geopolitical tensions and increasing global uncertainties, despite these challenges, we completed 2024 while maintaining our strong financial structure. In line with our global growth targets and long-term strategic vision, we determinedly continued our investments. Throughout 2024, Sun Tekstil sold 39 million garments, and Ekoten Tekstil sold 7 million kg of knitted fabric, increasing our sales revenue by 15% compared to the previous year, reaching 345 million euros (12 billion TL). As a Group, that exports 87% of its consolidated sales abroad, we are proud to be ranked first among the highest exporters in the Aegean Region Ready-to-Wear and Garment sector in 2024.”
“Throughout 2024, despite economic fluctuations, a steady exchange rate, rising inflation rates, and increasing raw material and labor costs, Sun Tekstil maintained its operational efficiency and effective cost management. As a result, the gross profit margin was maintained at 21%, demonstrating a successful strategy in the face of inflation and rising costs. EBITDA increased by 8% to reach 1.7 billion TL, with an EBITDA margin of 14%. Furthermore, Sun Tekstil successfully increased its net cash position by 378%, rising from 103 million TL to 492 million TL,” Ünlütürk added.
Elvan Ünlütürk also detailed their recent investments, stating, “In 2024, Sun Tekstil’s new production facility in Torbalı OSB became operational, and Ekoten Tekstil accelerated preparations for capacity-increasing building and machinery investments. The 40% increase in total investment expenditures compared to the previous year shows Sun Tekstil’s commitment to sustainable growth and expanding its production capacity.”
Investment in Fabric
In 2025, Sun Tekstil took a significant step in its digital transformation and innovative design processes. Elvan Ünlütürk announced, “We have decided to invest in Refabric, an AI-based design platform under Mintgrams Technologies, Inc. based in the USA. With this investment, we aim to digitize our design processes and integrate productive AI technologies into our business model. We will continue to differentiate ourselves by providing faster, more creative, and sustainable solutions in the fashion world.”
Targets and Future Vision
Speaking about future goals, Elvan Ünlütürk continued, “For 2025, as in previous years, we aim for growth in both euros and TL. With the investments and capacity increases we will complete in 2024 and 2025, we may update our targets. On the other hand, Sun Tekstil exports approximately 3 million products per month. Thanks to our sustainability-focused steps in digitalization, we conduct part of our design processes digitally. Additionally, with five design offices—one in Izmir, two in Spain, and two in the UK—we are working to increase our exports by serving customers in closer markets. We aim to strengthen our exports to Europe and continue bringing fashion to the world and the future to fashion. Our investments will lead to capacity increases, and as a net exporter, our company will expand its production volume and exports further. New markets and customers are key factors for growth. Therefore, sustainable and long-term customer relationships are among our strategic goals.”
