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Arcelik White Goods Sales Up in 2Q
Aug 8, 2013
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Turkish appliance maker Arcelik, part of the consumer durables business of Turkish conglomerate Koc Group, had second-quarter revenue of 2,665 million Turkish lira (approx. US $1,390 million). This compares to revenue of 2,779 million Turkish lira in the second quarter of 2012.

The company has strong appliance business in many European markets, particularly under its Beko brand.

Gross profit margin in 2Q 2013 was 30.0%, up from 28.8% in 2Q 2012.

White goods appliances revenue in 2Q 2013 was 1,801 million Turkish lira, compared to 1,744 million Turkish lira in 2Q 2012. Gross profit margin I for appliances was 33%, up from 31.4%.

Revenue from consumer electronics products in 2Q 2013 was 313 million Turkish lira, down from 487 million Turkish lira in 2Q 2012.

Other business revenue in 2Q 2013 was 552 million Turkish lira, from 547 in 2Q 2012.

Arcelik reported total first half 2013 revenue of 5,096 million Turkish lira, down 1.7% from 5,185 in the first half of 2012.

Revenue from the market in Turkey in the first half of 2013 was 2,268 million Turkish lira, from 2,262 million Turkish lira in the first half of 2012.

International revenues in the first half of 2013 were 2,827 million Turkish lira, down 3.3% from 2,922 million Turkish lira in the first half of 2012.

The company expects stable or increasing market share in key regions during 2013. White goods volume growth is expected to be 3% to 4% in Turkey, which is in-line with GDP growth expectations. White goods volume growth is expected to be greater than 5% internationally.

Total revenue growth is expected to be greater than 8% in 2013.

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