Türk Prysmian Kablo announced 2019 financial results

Türk Prysmian Kablo announced 2019 financial results

Categories: Corporate

Türk Prysmian Kablo increased its exports by 11% in 2019

İstanbul, Türkiye   -   02/21/2020 - 7:00 PM

Türk Prysmian Kablo, the company which gives life to Turkey's mega projects with its cables and solutions, announced its financial results for 2019. The company increased its turnover by 6.5 percent compared to 2018 and increased it to TL 1,462,576,746; it also increased the share of exports in turnover by 11 percent compared to 2018 and reached it to 35 percent. 

Türk Prysmian Kablo having signature on millions of km cable for 55 years in Turkey, which is among 50 countries where world giant Prysmian Group operates, continued to grow in both domestic and international markets according to the 2019 financial results. Increasing its turnover to TL1,462,576,746 in 2019, the gross profit of the Company increased by 15.7% compared to 2018 and reached TL163,680,055; and its net profit was announced as TL35,971,002. In its factory in Mudanya having the first R&D Center approved by the Ministry of Science, Industry and Technology, Türk Prysmian Kablo increased its R&D expenses by 8 percent in 2019 to TL4,067,179. The company's turnover in exports also increased by 11 percent compared to 2018 and reached 35 percent.

“We believe that the path to sustainable growth is through innovation”

Türk Prysmian Kablo CEO Cinzia Farisè, underlining that they successfully closed 2019 with their strong financial structure and value-added production despite the challenging market dynamics, also said “We contribute to domestic and value-added production with our innovative, competitive, high performance cable solutions and we are happy to support the industrialization process of Turkey. Moreover, with the power we get from our mission “Linking Turkey to the future”, with the technologies we have, we also keep working outside the borders of Turkey. In this regard, we are happy that our export figure for 2019 has increased by 11% compared to the previous year. In addition, we integrate economic, environmental and social sustainability into our activities in all fields, by strengthening our business model, for better tomorrows, and believe that the path to sustainable growth is through innovation. With this perspective, I would like to underline that a significant increase in our R&D expenses was realized by 8% in 2019.

Farisè stating that the contribution of its employees and business partners behind the successful performance they demonstrated in 2019 is very high, underlined that they leveraged on empowerment and collaboration through diversity, to create an environment that welcomes new perspectives, boost capacity for innovation and ability to withstand the unexpected.

“Attracts attention with its agility and selectivity”

Today, Türk Prysmian Kablo can produce 22 thousand different cables in the Mudanya factory built on an area of 180 thousand square meters and its Mudanya factory stands out as one of the 16 factories in Prysmian Group that can produce both energy and telecom cables at the same time. Among these cables; there are all energy cables up to 220 kV, communication cables with up to 3,600 pairs of copper conductors, fiber optic cables and special cables used in industrial applications. 

Türk Prysmian Kablo is considered a center of excellence in the field of marine cables and telecom cables within the Prysmian Group.

Showing a high level of agility which enabled to move quickly during the downturn, being selective without waiting the market to turn, embracing ‘always on’ transformation, Türk Prysmian Kablo is now ready to become an excellence center in many specialties for Prysmian Group.

 

Download Picture file_download