Kalekim's Net Sales Increased by 13% in the First Nine Months of the Year
Foreks - Kalekim, a leading brand in the Turkish construction chemicals sector, maintained its successful performance in the third quarter of 2024, following impressive results in the first two quarters of the year. The company's net profit for the first nine months of the year surged by 204% compared to the same period last year, reaching 585.6 million TL. Domestic sales during this period increased by 10% year-on-year, while international sales rose by 19%. Kalekim's net sales for the first nine months of the year reached 5.2 billion TL, reflecting a 13% increase.
Continuing its stable growth through new investments in both domestic and international markets, Kalekim announced its financial results for the first nine months of 2024. According to a statement made on November 5, 2024, to the Public Disclosure Platform (KAP), the company successfully carried over its achievements from the first two quarters into the third quarter.
“Kalekim carried its success from the first two quarters into the third quarter,” said Haluk Alperat, CFO of Kale Holding, emphasizing Kalekim's continued stable success. He noted, "As a significant player not only in our country but in the global market for construction chemicals, Kalekim has sustainably achieved financial success during a challenging year. Despite the slow pace of the construction sector in the domestic market and the stagnation caused by recession concerns abroad, our company has succeeded in maintaining its strong performance from the first two quarters into the third quarter. Our net profit for the first nine months of 2024 increased by 204% compared to the same period last year. Our net profit, which was 192.5 million TL in the first three quarters of 2023, rose to 585.6 million TL during the same period this year. During this time, our net sales also increased by 13% to 5.2 billion TL. Similarly, our domestic sales increased by 10% and our international sales by 19% year-on-year.
With our stable performance, we have achieved significant success in terms of sales and profitability both domestically and internationally. We concluded the third quarter in line with our expectations, thanks to the strong performance we demonstrated. Now, we aim to close the year 2024 in line with our expectations, benefiting from the economic indicators, especially those showing positive developments in the housing sector."
Murat Gönültaş, General Manager of Kalekim, emphasized that they are progressing step by step toward year-end targets. He stated, "The sector is going through a challenging process. Due to inflation and rising costs, we are experiencing a contraction in the domestic market and a stagnant period in export markets. However, the recent housing sales data brings hope for the future of the sector during this challenging time. By carrying our success from the first two quarters into the third quarter, we are gradually moving towards our year-end targets. Investments remain our focal point during this difficult period. Our new facility in Iraq, which is our largest export market, is continuing its infrastructure work directed towards production at full speed. We plan to start production in this facility, established with an investment of 10 million dollars and designed for a capacity of 100,000 tons of dry mortar and 5,000 tons of paint, by the first quarter of 2025. Additionally, our solar power plants (GES) in Yozgat Yerköy, which cost 6.3 million dollars, have begun operating at 100% capacity to reduce our energy costs and further lower our carbon footprint. We view these GES investments not only as an asset for Kalekim but also as a benchmark investment for our sector in terms of clean energy.
Moreover, Kalekim made a significant leap this quarter by transitioning our platform for 'Kalekim Usta Kulübü', Turkey's first and largest master club, established in 2001, into a mobile application. More than 50,000 registered masters on the system now have the opportunity to access new job opportunities, interact with fellow masters, and benefit from advantageous campaigns all through a single application for the first time in Turkey. We aim to carry our success from the first three quarters into the end of the year, aided by the steps we take both domestically and internationally in terms of investment and new product development."