Türk Prysmian Kablo announced its financial results for 2020

Türk Prysmian Kablo announced its financial results for 2020

Categories: Corporate

Türk Prysmian Kablo increased its turnover by 23% in 2020 compared to 2019

İstanbul, Türkiye   -   03/01/2021 - 2:00 PM

Türk Prysmian Kablo giving life to Turkey's mega projects with its cables and solutions announced its financial results for 2020. While the company increased its turnover by 23% compared to 2019, to 1,802,184,466 TL; it also increased the share of exports in turnover compared to 2019 and increased it to 37%.

Türk Prysmian Kablo producing million km of cables for 57 years in Turkey which is among 50 countries where worldwide cable industry leader Prysmian Group operates, continued to grow in both domestic and foreign markets, according to its 2020 financial results. While the gross profit of the company, which increased its turnover to 1,802,184,466 TL in 2020, increased by 23.3% compared to 2019 and was realized as 201,809,922 TL; the net profit was announced as 42,418,644 TL with an increase of 17.9% compared to the previous yearThe company's export rate in turnover increased compared to 2019, reaching 37%. Having the first R&D center approved by the Republic of Turkey Ministry of Science, Industry and Technology in the Turkish cable industry in its factory in Mudanya, Türk Prysmian Kablo's R&D expenditures increased by 14.4% in 2020, reaching 4,651,103 TL.

“We export our cable solutions to more than 40 countries”

Stating that they closed the year 2020 with growth despite the difficult conditions of the pandemic period, Cinzia Farisè, the CEO of Türk Prysmian Kablo said “We contribute to domestic and value-added production with our innovative and high performance cable solutions and we continue our support at all times. The year 2020 has been a very difficult period for the whole world. The pandemic process has affected the Turkish cable industry as well as all other industries. However, in this process, we have succeeded in adapting quickly to difficult conditions by taking quick action. With the power we get from our mission ‘Linking Turkey to a Sustainable Future’ and with the technology we have, in this period, we continued to deliver innovative solutions that go beyond the borders of Turkey. We are happy to have our cable export figure for 2020 has increased by 37% compared to the previous year and realized as 665.113.320 TL., to produce and export a very important part of the cables we have produced for many years, to more than 40 countries covering a very wide geography, including but not limited to the Turkic Republics and Middle Eastern countries.”

“We will continue to develop innovative products that support sustainability in 2021”

Stating that being “The most spending company in the Turkish cable industry” they will continue their investments on environmentally friendly new products and systems, Cinzia Farisè continued her words as follows: “For a better tomorrow, we integrate economic, environmental and social sustainability into our activities in all areas by further strengthening our business model; we believe that the way to sustainable growth is through innovation. With this point of view, we focused more on our R&D studies in 2020 and as a result, our R&D expenditures increased by 14.4%. Our biggest goal is to increase our contribution to domestic production in line with our mission ‘Linking Turket to a Sustainable Future’. In year 2021, we will continue to interpret the social benefit criterion, which is the backbone of sustainability, with a social responsibility awareness as a company; to work for a better tomorrow with the projects we have implemented; to develop innovative products that support sustainability in telecommunications and energy infrastructures; to increase the sales of "green" products; to contribute to making energy and telecommunications accessible to all and to support the production of renewable energy and sustainable technologies.