Profit Of Automotive Companies Exceeds TL3 Billion

The total net profit of the Turkish automotive companies which are traded in Borsa Istanbul (BIST) increased nearly 32 percent to TL3 billion 321,6 million in 2017

The total net profit of the Turkish automotive companies – which are traded in Borsa Istanbul (BIST) – announced their net profit increased 31.7 percent to TL3 billion 321,6 million in 2017. As the number of 3 automotive companies which are traded in the Istanbul stock exchanges surged their profits, as for one of the automotive company in the stock exchange passed from loss to profit. Other 4 ones which have announced their financial results performed negative performance in 2017 compared to the previous year.

Ford Otosan leads

As Ford Otosan became the company posting the highest profit with TL1 billion 490 million, at the same time the company owned the title increasing its profit most with 56 percent in 2017 over the year 2016. Ford Otosan announced TL955,3 million of net profit in 2017.

Another automotive company which posted net profit over TL1 billion is Tofas Turk Automobile Plant, a partnership company of Koc Holding as well. Tofas boosted its net profit 32.2 percent to TL1 billion 282,8 million in 2017. Apart from Ford Otosan and Tofas of Koc Holding, its two more companies take place in the automotive sector. One of these two companies, Otokar raised its profit 42.6 percent to TL99,34 million, Turk Tractor decreased its profit 13.3 percent to TL320,8 million in 2017.

In the automotive companies, as Karsan drew attention due to passing from TL73,5 million loss to TL6,9 million profit in 2017, meanwhile Tumosan appeared with negative sense regarding passing from TL40 millions of profit to TL13,1 million loss. As Anadolu Isuzu featured the company posting the most loss with TL48,4 million in 2017, as for net profit of Dogus Automotive decreased from TL237,7 million to TL183,2 million in 2017.

Total assets edged up TL40 billion

While the total sales of the automotive companies traded in the stock exchanges reached TL64 billion 525,5 million with 24.9 percent rise in 2017, the all companies were seen that increased their sales. As Ford Otosan boosted its sales most with 38.6 percent, it also appears as the company achieving the most sales in the automotive sector in Borsa Istanbul with TL25,3 billion. As for the company of which sales increased least is Otokar with 9.2 percent. The total assets of the automotive companies raised 20.3 percent to TL39 million 711,3 million in 2017 over previous year. According to the financial results boosting its assets 64,2 percent to TL1 billion 453,5 million, Anadolu Isuzu drew attention regarding posting loss in 2017. As all companies boosted their assets in 2017, Dogus Automotive became the company performing low performance with 6.5 percent rise compared to other ones. In terms of active base, while Tofas topped with TL13 billion 875,1 million traded in the stock exchange, it was followed by Ford Otosan with TL12 billion 11,7 million.

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