Dardanel increased its sales by 92% in the first half of 2022.
Turkey's expert in fish and seafood, Dardanel, released its consolidated financial reports for the first half of 2022. The company, maintaining its leading position in its sector in the first six months of the year, achieved great success by increasing its sales by 92% compared to the same period last year. While Dardanel's annual turnover in 2021 was 1.16 billion TL, the company reached a turnover of almost 1.094 billion TL in just six months this year, almost reaching last year's end-of-year sales figures. With this successful sales performance, Dardanel achieved a net profit of over 33.5 million TL in the first half of the year. Export growth in the first six months of the year compared to the first six months of 2021 showed an increase of 78% in dollar terms and 70% in tonnage.
The company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margin was 12.75% in the first half of 2021, while it increased to 14.23% in the same period this year. Dardanel also significantly increased its total assets, which were 1.48 billion TL in 2021, to 1.98 billion TL in the first six months of this year.
As Turkey's number one choice in canned tuna, Dardanel maintained its leading position in the market and increased its tuna sales volume by 15% compared to the first six months of 2021.
CONTINUING INVESTMENTS AND EXPORT GROWTH
Niyazi Önen, Founder and Chairman of the Board of Dardanel, made the following evaluation regarding the results: "Our goal is to maintain the momentum of growth 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 last year. We are reaching our value-added fish and seafood products produced in our country to an expanding geography every day and accelerating our exports. Despite the increasing costs, our company managed to increase its EBITDA margin to 14.23% with successful revenue performance. In accordance with our strategies, we attach great importance to R&D studies. We are making investments to bring together Dardanel expertise with new consumer groups with innovative products developed in different categories. We continue to grow domestically and internationally with branded and high-value-added production."
Dardanel, accelerating its growth plans in exports as a global Turkish brand, also continues to provide foreign exchange income to the Turkish economy. While feasibility studies for the renovation of the company's factory building in Edirne-Enez have been completed, it is planned to sell primarily abroad the products worth 800 million TL annually to be produced there.
HIGH-QUALITY CREDIT RATING FOR DARDANEL
Maintaining its strong leadership in its sector since its establishment in 1984, Dardanel 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. As a result of the evaluation, Dardanel's national long-term credit rating was announced as A-, and it was stated that all indicators for the company's investment improved positively due to its 38 years of experience in the sector, brand reputation, spreading power to different locations, and growth potential in export levels.
The company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margin was 12.75% in the first half of 2021, while it increased to 14.23% in the same period this year. Dardanel also significantly increased its total assets, which were 1.48 billion TL in 2021, to 1.98 billion TL in the first six months of this year.
As Turkey's number one choice in canned tuna, Dardanel maintained its leading position in the market and increased its tuna sales volume by 15% compared to the first six months of 2021.
CONTINUING INVESTMENTS AND EXPORT GROWTH
Niyazi Önen, Founder and Chairman of the Board of Dardanel, made the following evaluation regarding the results: "Our goal is to maintain the momentum of growth 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 last year. We are reaching our value-added fish and seafood products produced in our country to an expanding geography every day and accelerating our exports. Despite the increasing costs, our company managed to increase its EBITDA margin to 14.23% with successful revenue performance. In accordance with our strategies, we attach great importance to R&D studies. We are making investments to bring together Dardanel expertise with new consumer groups with innovative products developed in different categories. We continue to grow domestically and internationally with branded and high-value-added production."
Dardanel, accelerating its growth plans in exports as a global Turkish brand, also continues to provide foreign exchange income to the Turkish economy. While feasibility studies for the renovation of the company's factory building in Edirne-Enez have been completed, it is planned to sell primarily abroad the products worth 800 million TL annually to be produced there.
HIGH-QUALITY CREDIT RATING FOR DARDANEL
Maintaining its strong leadership in its sector since its establishment in 1984, Dardanel 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. As a result of the evaluation, Dardanel's national long-term credit rating was announced as A-, and it was stated that all indicators for the company's investment improved positively due to its 38 years of experience in the sector, brand reputation, spreading power to different locations, and growth potential in export levels.
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