Turkish appliance maker Arcelik said its 2012 revenue was up 25.1%, reaching 10.557 billion Turkish lira (approx. USD $5.923 billion), from 8.437 billion lira in 2011. Arcelik's net income was 552 million lira (approx $309.7 million), up 2.0% from 541 million lira in 2011. The company reported a gross profit of 28.9%.
Arcelik's 2012 White Goods appliances business revenue was 7.079 billion lira, up 27.3% from 5,560 billion lira in 2011. White Goods gross profit was 32.0%, from 32.9% in 2011.
Arcelik's 2012 Electronics business revenue was 1.798 billion lira, which was up 23.9% from 1.451 billion lira in 2011. Electronics' gross profit was 19.3%, from 22.1% in 2011.
Arcelik's "Other" business segment revenue was 1.679 billion lira, up 17.8% from 1.426 billion lira in 2011. Gross profit for the Other business was 26.3%, from 27.3% in 2011.
Arcelik expects stable or increasing market share in its key regions in 2013. In Turkey, the company expects its White Goods appliances volume growth to be 4-5%, which is in-line with GDP growth expectations. Internationally, White Goods appliances volume growth it expected to be about 10%.
Total revenue growth in 2013 is expected to be greater than 10% in lira.
The company expects to see a positive impact in 2013 from the launch of white goods appliances under its Grundig brand name. Grundig has traditionally been a consumer electronics brand.
Arcelik is part of the consumer durables business of Turkish conglomerate Koc Group, and is a market leader in Turkey in many residential appliance and consumer electronics segments. Its Beko brand of appliances has a strong share of the appliance market in the UK and other European markets.
Back to Breaking News