Eksun Gıda's Domestic Net Sales Reach 5.4 Billion TL in the First 9 Months of 2024
Eksun Gıda (IS:EKSUN), which offers over 200 product varieties under the brands Sinangil and Sinangil Gluten FREE, published its financial results for the third quarter of 2024, prepared in accordance with the Turkish Accounting Standard (TMS) 29 inflation accounting principles, on the Public Disclosure Platform (KAP). According to the results, the company's domestic net sales reached 5.4 billion TL in the first nine months of 2024.
“Our total asset size has reached 4.6 billion TL” Continuing its operations with a wide distribution network in both retail and industrial sectors, Eksun Gıda has increased its total asset size to 4.6 billion TL. In statements regarding the topic, Eksun Gıda General Manager Ahmet Demir said, "Excluding the TMS 29 effect, our gross profit margin stands at 15.5%, and our EBITDA margin is at 5.6%. With this increase in our asset size, we are reinforcing our strength in local and global markets."
Growth continues in the global market Being one of the leading firms in the sector with exports to over 30 countries, particularly in Latin America, Africa, and the Middle East, Eksun Gıda has increased its export volume to 1.5 billion TL in the first nine months of 2024. Demir stated, "With our annual production capacity of 600,000 tons and a wheat storage infrastructure of 52,000 tons at our Tekirdağ and Konya factories, we continue to enhance both our financial capacity and global awareness. We will keep taking innovative steps to ensure stability in changing market conditions and consumer preferences."
“We are resilient against global fluctuations with our strong infrastructure” Regarding global wheat markets, Ahmet Demir emphasized that wheat prices have started to recover, stating, "According to the latest report by the World Bank, wheat prices decreased by 21% in 2024. This downward trend in global wheat prices creates new opportunities for us due to our vast storage capacity and high production volume. From a long-term perspective, we view this process not just as an economic opportunity but as a step that will contribute to sustainable growth in the sector. We increase our resilience against fluctuations in global markets with our high-capacity wheat storage infrastructure." Demir also referred to their operations in the retail and industrial sectors, saying, "Beside our leading position in the retail market with Sinangil, we are strong in the industrial flour market with an average monthly sales of 20,000 tons. Our two factories located in regions known as wheat basins, such as Konya and Tekirdağ, along with our high wheat storage capacity, provide us with a competitive pricing and quality advantage throughout the year."
Eksun is making green investments With the motto 'Green World Sustainable Energy’, Eksun Gıda is committed to creating sustainable value for all its stakeholders and is investing in renewable energy. Highlighting their awareness of human and environmental sensitivity, Ahmet Demir said, "We are continuing the establishment of a wind energy plant that will have a total installed capacity of 18,900 kW to meet the electricity needs of our factories in Tekirdağ and Konya. Our project development processes are ongoing; we aim to rapidly implement our investments upon completion of these processes."
Eksun Gıda continues to strengthen its vision for environmental sustainability while increasing energy efficiency through renewable energy projects.
Modern facilities are supported by licensed warehousing Ahmet Demir noted that they support their investments with licensed warehousing activities, stating, "Having a production facility equipped with high technology is one of the key factors that differentiate us from our competitors in the industrial field. In this context, we continued our growth-focused investments by acquiring Babaeski Licensed Warehousing Inc." Demir added that with their investments in licensed warehousing, they have taken a significant step towards a sustainable and secure food supply chain while adding value to the sector.