Dardanel increased its sales by 92% in the first half of 2022.
Dardanel, Turkey's expert in fish and seafood, has released its consolidated financial statements for the first half of 2022. Maintaining its leading position in the sector in the first 6 months of the year, the company achieved significant success by increasing its sales by 92% compared to the same period last year. While Dardanel's annual revenue in 2021 was 1.16 billion TL, the company almost reached the end-of-year sales figures for the previous year in just 6 months, reaching a turnover of 1.094 billion TL. With this successful sales trajectory, Dardanel achieved a net profit of over 33.5 million TL in the first half of the year. Export growth in the first 6 months of the year showed a 78% increase in turnover in dollars and a 70% increase in tonnage compared to the first 6 months of 2021.
The company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margin increased from 12.75% in the first half of 2021 to 14.23% in the same period this year. Dardanel significantly increased its total assets from 1.48 billion TL in 2021 to 1.98 billion TL in the first 6 months of this year.
Dardanel, the number 1 choice for canned tuna in Turkey, maintained its leadership position in the market and increased its tuna sales by 15% compared to the first half of 2021.
Continuing its investments and growth in exports, Dardanel's Founder and Chairman of the Board Niyazi Önen commented on the results: "Our goal is to maintain the growth momentum both in Turkey and in the geographies where we export. We increased our export turnover by 78% in dollar terms compared to the first half of the previous year. We are expanding the reach of value-added fish and seafood products we produce in our country to an increasingly wider geography, boosting our exports. Despite rising costs, our company managed to raise the EBITDA margin to 14.23% with successful income performance. According to our strategies, we also attach great importance to R&D (Research and Development) activities. We are investing to bring Dardanel expertise to new consumer groups with innovative products developed in different categories. We continue to grow with branded and high-value-added production both domestically and internationally."
As a global Turkish brand accelerating its growth plans in exports, Dardanel continues to contribute foreign exchange income to the Turkish economy. The feasibility studies for the renovation of the company's factory building in Edirne-Enez have been completed, and the plan is to predominantly export products worth 800 million TL annually produced there.
Dardanel, which has maintained strong leadership in its sector since its establishment in 1984, received a high-quality credit rating from the international credit rating agency JCR Eurasia due to its stable growth supported by domestic sales and export figures. The evaluation result revealed Dardanel's national long-term credit rating as A-, highlighting the company's positive development in all indicators for investment due to its 38 years of experience in the sector, brand reputation, expansion power to different locations, and growth potential in export levels.
The company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margin increased from 12.75% in the first half of 2021 to 14.23% in the same period this year. Dardanel significantly increased its total assets from 1.48 billion TL in 2021 to 1.98 billion TL in the first 6 months of this year.
Dardanel, the number 1 choice for canned tuna in Turkey, maintained its leadership position in the market and increased its tuna sales by 15% compared to the first half of 2021.
Continuing its investments and growth in exports, Dardanel's Founder and Chairman of the Board Niyazi Önen commented on the results: "Our goal is to maintain the growth momentum both in Turkey and in the geographies where we export. We increased our export turnover by 78% in dollar terms compared to the first half of the previous year. We are expanding the reach of value-added fish and seafood products we produce in our country to an increasingly wider geography, boosting our exports. Despite rising costs, our company managed to raise the EBITDA margin to 14.23% with successful income performance. According to our strategies, we also attach great importance to R&D (Research and Development) activities. We are investing to bring Dardanel expertise to new consumer groups with innovative products developed in different categories. We continue to grow with branded and high-value-added production both domestically and internationally."
As a global Turkish brand accelerating its growth plans in exports, Dardanel continues to contribute foreign exchange income to the Turkish economy. The feasibility studies for the renovation of the company's factory building in Edirne-Enez have been completed, and the plan is to predominantly export products worth 800 million TL annually produced there.
Dardanel, which has maintained strong leadership in its sector since its establishment in 1984, received a high-quality credit rating from the international credit rating agency JCR Eurasia due to its stable growth supported by domestic sales and export figures. The evaluation result revealed Dardanel's national long-term credit rating as A-, highlighting the company's positive development in all indicators for investment due to its 38 years of experience in the sector, brand reputation, expansion power to different locations, and growth potential in export levels.
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