Katmerciler raised its Net Profit by 63%.

Katmerciler raised its net profit by 63%

Publishing 2010 year-end financial results, Katmerciler increased total actual assets by 42 percent, activity profit by 46 percent, and net profit margin from 7 percent to 13 percent. Equity profitability rate of the company was realized to be 30 percent.

Leader and sole representative in stock market (KATMR) of the on-board equipment sector in Turkey, Katmerciler published financial results for year 2010. Increasing net profit by 63 and operating profit by 46 percent in 2010, Katmerciler increased total net assets by 42 percent and reached to 59.550 million TL. The Company is among the most profitable companies of IMKB with its 30 percent equity profitability.

Closing year 2010 with a total sales revenue of 61.6 million TL, Katmerciler increased its net profit of 4.870 million TL in 2009 by 63 percent and reached to 7.927 million TL in 2010. The company increased its operating profit by 46 percent and raised the figure of 7.137 million TL in 2009 to 10.405 million TL in 2010. Raising net profit margin from the level of 7 percent in 2009 to 13 percent, Katmerciler made a great leap in 2010 by increasing operating profit margin from 11 percent to 17 percent. 

Increasing equity to 26.474 million TL, by 137 percent compared to previous year, Katmerciler maintained its place among the most profitable companies of the stock market with a 30 percent equity profitability rate. Realizing an export of 26 million TL in 2010, the Company obtained 42 percent of its revenues from abroad markets.

Ø Katmerci: “We are very content with our profit increase, especially for our investors”

Mehmet Katmerci, General Director and Chairman to Board of Directors of Katmerciler, in his evaluation of 2010 financial results, stated that Katmerciler has closed 2010 largely in accordance with their anticipations and said, "We showed a sound, stable, and most important of all, fairly profitable performance in year 2010. As a company which has just entered the domain of IMKB and in trade since November 2010, we are very content with our profit increase, especially in the name of our investors and shareholders. We feel the peace of being able to respond to our investor's trust with the first financial performance we declared in the stock market, based on our 25 years experience. Our aim is to claim more share in the domestic and foreign markets, while maintaining this trend and playing our role as a pioneer in expanding the market." 

Stating that Katmerciler accelerated new investments in accordance with the company policy of domestic and foreign growth, Mehmet Katmerci called attention to the fact that foundation of the new factory to be constructed for expanding existing manufacturing facilities in İzmir Atatürk Organized Industrial Zone 

in the coming weeks. Underlining the fact that Katmerciler is the largest exporter company in the sector, Mehmet Katmerci said:

"We will expand our production capacity by 30 percent with our new factory which we expect to make an investment of approximately 6 million TL and where we will give an employment opportunity to 100 individuals. We plant to produce different product models based on new and advanced technology in this factory. Thus, we aim to further solidify our current position especially in the foreign markets and to reach new markets. Each new production and sales towards export shall create an added value not only for Katmerciler but also for the national economy. We plant to commission the factory in July."

Mehmet Katmerci stated that negotiations with French Gimaex International on establishing a new company centered in İzmir with a 50-50 partnership have a fairly positive progress. 

Specifying that the fundamental aim for the new company shall be international markets, Mr. Katmerci said, "There is an immense potential in international markets. Gimaex International, a pioneer and leader in its field, is a company that may help Katmerciler to reach new markets with its advanced technology and divergent product development abilities. We carry the belief that this partnership will create value both for our shareholders and investors and that it will strengthen the position of Katmerciler, which is the largest exporter of the sector.

Calling attention that regarding new potential partnership, no cash transfer from Katmerciler will take place excluding capital share, Mehmet Katmerci stressed that the company which will focus on especially fire fighting equipment will act as a catalyst for more rapid growth of Katmerciler on national and international scale.