Durukan Confectionery Achieves 680.9 Million TL in Sales Revenue in the First 9 Months of the Year
Foreks - Durukan Şekerleme achieved a sales revenue of 680 million 927 thousand 134 TL in the first 9 months of 2024. The company's net profit margin was 11.88%, while the EBITDA margin was 28.62%. Ertuğrul Durukan, Chairman of the Board of Durukan Şekerleme, stated, “As a company with a high export rate, we observe that the strategic plans we have implemented with the goal of sustainable profitability are positively reflected in our operational results. These strategic plans, which we approached with a holistic perspective from production to sales and from R&D to export, have both boosted our domestic market success and reinforced our strong position in global markets.”
Durukan Şekerleme, with 40 years of experience in the confectionery sector, announced its activity report for the quarter of 2024. In the first 9 months of the year, the company reported a gross profit of 295 million 357 thousand 53 TL, marking a 70.2% increase. For the third quarter covering July, August, and September 2024, Durukan Şekerleme reported a revenue of 130 million 485 thousand 319 TL and a gross profit of 66 million 546 thousand 979 TL during the same period. The company's profit for the first 9 months was recorded at 80 million 894 thousand 985 TL, while the profit for the third quarter was recorded at 62 million 253 thousand 943 TL. Durukan Şekerleme's gross profit margin for the first 9 months of 2024 was calculated at 43.38%, operating profit margin at 25.66%, net profit margin at 11.88%, and EBITDA margin at 28.62%. During this period, the company's total assets reached 2 billion 513 million 134 thousand 207 TL, with total equity at the same level.
Strengthening our position in domestic and foreign markets Ertuğrul Durukan, Chairman of the Board of Durukan Şekerleme, expressed satisfaction with the successful financial results achieved in the first 9 months of 2024, stating, “As a company with a high export rate, we are pleased to see that the strategic plans we have created with the goal of sustainable profitability have positively contributed to our financial performance. These strategic steps, implemented with a comprehensive approach from production to sales and from R&D to export, have increased our successes in the domestic market while further solidifying our strong position in global markets.”
Increased employment Ertuğrul Durukan emphasized the impact of the company's successful strategic plans on employment, noting that the number of employees, which was 336 in June 2024, has risen to 372 as of September. He also mentioned successfully completing three significant auditing processes in both national and international areas in September, saying, "As Durukan Şekerleme, we accelerated our steps to develop our strategic regional objectives during the third quarter of the year. During the slowdown in the sector in July, August, and September, we conducted field visits to share our 2025 goals in detail with our existing clients in the Balkans (Kosovo, Serbia, Montenegro, North Macedonia, Bosnia and Herzegovina, Albania), Turkic Republics (Uzbekistan, Kyrgyzstan, Kazakhstan), and the Arabian Peninsula (United Arab Emirates, Saudi Arabia), introduced our new product groups, and held meetings with potential clients for new collaborations.
Additionally, we participated in the Dubai International Confectionery, Snack, and Food Fair (ISM 2024) from September 24-26, where we met with industry professionals predominantly from the United Arab Emirates, Saudi Arabia, Qatar, Kuwait, Bahrain, Uzbekistan, Pakistan, Jordan, the Netherlands, the USA, and Hungary. We also had the opportunity to introduce our products to potential customers from Hong Kong, the Philippines, Vietnam, and various European countries. Once again, we experienced that there is intense interest in the products we have developed through value-added R&D projects."
“Our goal is value-added products and export” Ertuğrul Durukan emphasized that Durukan Şekerleme has stepped into a new era with its shares starting to trade on Borsa Istanbul as of September 17. He stated, “With our IPO, we continue on our path with a more corporate, transparent, and accountable structure. Our primary goal in the upcoming period will focus on innovative and value-added products to ensure our company achieves a more competitive position in the global arena. We aim to expand our export activities with our differentiating products. Through these strategic steps, we intend to elevate our brand in international markets and sustain our growth.” He also highlighted that discussions on new machinery investments have begun and announced that they have reached the final stage for the rooftop solar power plant, which is the first phase of their solar energy investment.