Kordsa, Now a Strategic Supplier to the Commercial Aviation Sector, Posts 54% Profit Growth in First Half of 2018

Kordsa reported its first-half 2018 results. Its market and customer-focused activities, operational efficiency approach and recent strategic investment decisions reflected positively on its financial indicators. Kordsa increased its revenue to TRY 1.5 billion in the first half. Revenue rose 24% compared to the first half of 2017 and 16% compared to the first quarter of this year. Net profit increased 39% to reach TRY 155 million, while the parent company share rose 54% to TRY 136 million. Reaching EBITDA of TRY 263 million with a 36% increase compared to the same period of the previous year, Kordsa continued its profitable growth with a strong capital structure. The reinforcement leader revised its 2018 revenue and EBITDA expectations upward. Sales are expected to rise between 25-35% by the end of 2018, while EBITDA growth is also forecast at 30-40% levels. With the impact of composite company acquisitions in America, these rates are expected to reach 30-40% in sales and 35-45% in EBITDA. Kordsa continued 2018 with increasing revenue, while also expanding markets strengthened through strategic additions to its customer portfolio. Announcing the acquisition of Fabric Development Inc. (FDI) and Textile Products Inc. (TPI), which are among the strategic suppliers of the world's leading commercial aerospace sector brands including Boeing and Toray Composites Materials America Inc., with a USD 100 million investment, Kordsa views this acquisition as a very important step in strengthening its position in the US Composites Market and becoming a strong player in the supply chain of the growing aerospace sector. With this acquisition, Kordsa took an important step toward its goal of creating a new Kordsa by generating USD 80 million in annual revenue growth.