Mega Metal announced its 2023 net profit

Mega Metal announced its financial results for 2023.

In 2023, the company, which realized its public offering, completed the year with significant growth figures; and increased its sales by 33% compared to 2022. Mega Metal's gross profitability increased by 61% and reached 1 billion 93 million, exceeding the 1 billion for the first time. The company's EBITDA increased by 65% to 895 million TL, while its net profitability increased 2.67 times (267%) and exceeded 300 million TL.

Evaluating the financial and operational performances for 2023, Mega Metal Chairman Cüneyt Ali Turgut pointed out that the company's equity increased 3.36 times (336%) to 2 Billion 768 Million TL with the positive effect of both high profitability and public offering. Turgut said that although total liabilities also increased by 49%, total assets increased by 92% compared to the previous year and reached 6 Billion 857 Million TL with the effect of the public offering, and continued his words as follows:

"WE INCREASED OUR SALES BY 33%"

"In 2023, we achieved a great growth momentum and managed to close the year with a turnover of more than 11 billion TL and a net profit of 300 million TL. We increased our sales by 33% compared to the previous year, reaching 43 thousand tons. At the same time, we exported approximately 230 million dollars, mainly to Europe and the USA.

GREEN ENERGY INVESTMENTS CONTINUE

Noting that sustainability is at the centre of their investments in 2024, Cüneyt Ali Turgut said, "We have installed a solar power plant on the roof of our factory in Kayseri. We have a 6 MW electricity generation capacity here. When the plants, which are expected to start production in the last quarter of 2024, are commissioned, we will start meeting 75% of our company's electricity consumption from renewable energy."