Kervan Gıda Sets New Record

Kervan Gıda Sets New Record Kervan Gıda, ranked among the Global Top 100 Confectionery Companies in 2022 and holding the highest soft candy production capacity in Turkey, closed the third quarter of 2022 with revenue of TRY 1.43 billion, breaking its previous record. The food giant, which exports products to 85 countries, generated TRY 213 million EBITDA in the period with a 198% increase compared to the same period of the previous year, announcing profits above market expectations. The company completed 2022 with revenue at the level of TRY 4.5 billion, progressing toward its goal of becoming "the World's 5th Largest Soft Candy Producer." Kervan Gıda, the soft candy producer that capitalized on the momentum from its public offering to expand into the global arena and exports to 85 countries, announced its financial results for the third quarter of 2022. With combined revenue of TRY 2.03 billion in the first two quarters of the year and an EBITDA margin of 14.1%, the company announced that it generated TRY 213 million EBITDA in the third quarter of 2022 with revenue of TRY 1.43 billion and a margin of 14.9%. According to the disclosed figures, the company's total revenue in the third quarter of this year showed a 146% increase compared to the same period in 2021.

"We are contributing to Turkey's economy"

Burhan Başar, Chief Executive Officer of Kervan Gıda, noting that the company achieved profits above expectations in the first three quarters of the year, made the following statements: "The fact that we sustained the positive performance we achieved in the first half of the year through the third quarter of this year demonstrates how well we planned our commercial strategies and moves. With our sales and profitability figures, we strengthened our position as a game-changer in Turkey's economy. In fact, we generated in just the third quarter the net profit we earned in the first half of 2022. Building on this success as a company, we will continue our efforts without interruption to advance our development and operations further."

Annual production capacity of 122,000 tonnes

Kervan Gıda, which entered the "Global Top 100 Confectionery Companies 2022" list at rank 82, provides employment to more than 3,000 people through its seven factories spanning 110,000 square meters in Turkey and Poland with an annual production capacity of 122,000 tonnes. With its own companies and subsidiaries in the United States, United Kingdom, Germany, Russia and Poland, Kervan Gıda aims to become "the World's 5th Largest Soft Candy Producer" through its focus on value-added products and productivity initiatives at its facilities.