Astor Enerji reaches TRY 5.8 billion in revenue

Astor Enerji shared its first-quarter results. In the first quarter of 2024, Astor Enerji reached active assets of TRY 7 billion, increasing its revenue by 78% compared to the same period in 2023 to TRY 5.8 billion. Astor Enerji presented its financial report for the first quarter of 2024, disclosing strong performance. The company reached revenue of TRY 5.8 billion, increasing its sales by 78% compared to the same period in 2023. At the same time, Astor Enerji raised its overseas sales to 45% of total revenue, and increased its profit by 365% compared to the same period of the previous year in the first quarter of 2024, reaching TRY 572 million.

Net profit increased by 365%

Astor Enerji increased its first-quarter 2024 revenue by 78% compared to the same period in 2023, increasing gross profit by 103%, EBITDA by 91%, and net profit by 365%. Astor Enerji's gross profit margin rose from 30% to 34% level, and its EBITDA margin increased from 26% to 28% level. In the first quarter of 2024, the company increased its domestic sales by 39% on an annual basis to TRY 3,295 million, while its overseas sales increased by 176% in the same period, reaching TRY 2,608 million. As of 2024, products manufactured by Astor Enerji are exported to more than 90 countries worldwide, and the share of exports in total sales rose to 45%.

Share of sales to the European Union region reached 54%

The highest exports by region were 54% to European Union countries, 31% to the Middle East and North Africa, and 10% to the United Kingdom. The share of sales to the European Union region in the first quarter of 2024 increased from 47.5% at the end of 2023 to 54%.