Aksa Akrilik Announces 2021 Financial Results

Aksa Akrilik Announces 2021 Financial Results Aksa Akrilik sustained its successful financial performance from 2021 through the final quarter of the year. According to the disclosed results, the company achieved net profit of TRY 1,167 million, representing a 165% increase, while distributing record dividends of TRY 1.85 per share. Aksa Akrilik announced its 2021 financial results. According to the disclosed figures, the company maintained its successful performance throughout the year, recording increases in revenue, EBITDA and net profitability.

Profitability Figures Set Records

Based on the disclosed results, Aksa Akrilik's revenue rose to TRY 8,348,157 thousand, representing a 103% increase compared to the previous year. The company's EBITDA level reached TRY 1,701,541 thousand with a record increase of 85%. Aksa Akrilik's 2021 net profitability figure reached TRY 1,167,208 thousand, marking a record increase of 165%. The company, which achieved 90% capacity utilization, recorded investment expenditure of TRY 627 million.

DowAksa Maximized Its Contribution to 2021 Profitability

DowAksa, a joint venture in which Aksa Akrilik holds a 50% ownership stake, provided record-level contributions to the company's net profitability in 2021. DowAksa, Turkey's first and only carbon fiber producer, contributed net profitability of TRY 44,863 thousand to Aksa Akrilik's consolidated results with a 498% increase, while raising its revenue to TRY 981,357 thousand with a 68% increase. With DowAksa's new investments, positive impact on Aksa's results is expected to continue compounding in the coming years.

Record Dividend Distribution to Shareholders Announced

Aksa Akrilik Board Member and General Manager Cengiz Taş stated that value-added product exports played a significant role in the positive financial results. Noting that Turkey's strategic position makes acrylic fiber the preferred choice in textiles and technical products, Taş noted that they benefited from returns on their production diversity and new investments. Taş continued: "2021, despite uncertainties, was a year in which Turkish industry achieved strong figures. Although input prices increased, we managed to keep our costs under control. Thanks to our exports, we pulled our figures to record levels in the final quarter of the year. In line with our vision of creating value for our stakeholders, we will distribute gross dividends of TRY 1.85 per share. In 2022, we will continue to move forward with determined steps toward our sustainable growth and high profitability targets."