OYAK Çimento Reports Net Profit of TRY 1.5 Billion

OYAK Çimento increases net profit by 255% in first nine months of 2022 to TRY 1,571,579,737. OYAK Çimento announced its nine-month financial results for the January-September 2022 period. In a disclosure to the Public Disclosure Platform (KAP), the company stated that its equity exceeded TRY 4.5 billion in the first nine months of 2022, and EBITDA grew 202% compared to the same period of the previous year. OYAK Çimento Board Chairman Suat Çalbıyık, commenting on the financial results, emphasized that the successful performance was significantly influenced by the future vision and strategy demonstrated by OYAK General Manager Süleyman Savaş Erdem. Çalbıyık stated that the company's net profit increased approximately 255% compared to the same period of the previous year, reaching TRY 1,571,579,737 in the first nine months of 2022, and that total revenues rose approximately 160% to TRY 8,185,945,315. Çalbıyık noted that OYAK Çimento, the first Turkish cement company to make a Net-Zero commitment with a serious international target, continued to stand out with environmentally friendly products and practices that set an example in the sector, a development that also increased the number of customers. Stating that the market preference for high value-added products was reflected in their profitability, Çalbıyık added that OYAK Çimento would continue growth with products and practices that will lead the sector in the coming period.