Kordsa Closes Third Quarter of 2018 with Growth

Kordsa's financial results announced in the third quarter of 2018 exceeded expectations. In the third quarter, Kordsa increased its revenue by 50% compared to the second quarter of this year and by 106% compared to the same period in 2017, reaching TRY 1.2 billion. Net profit increased by 60% compared to the second quarter of this year and by 181% compared to the same period in 2017, reaching TRY 135 million. EBITDA stood at TRY 230 million.Kordsa Chief Executive Officer Ali Çalışkan evaluated recent period results, emphasizing that the company is making steady progress toward becoming a strong player in the supply chain of the aerospace sector: "Through our acquisitions, we are expanding our markets.

As an output of our work at the Composite Technologies Center of Excellence, we are expanding our strengthening area in composite technologies through strategic investment decisions we have made while increasing our market share in the EMEA region.

In the first half of the year, we strengthened our position in the US composite market by bringing Fabric Development Inc. (FDI) and Textile Products Inc. (TPI) into our company, which are among the strategic suppliers of the world's leading commercial aviation sector brands and produce advanced composite materials used in aircraft wings, fuselages and engines. Recently, we also incorporated Advanced Honeycomb Technologies, a US-based company that supplies advanced materials to the aerospace and space industries, and now we are strengthening the interiors of aircraft as well. With these investments, we have reinforced our position among the leading players in commercial aviation in composite technologies while taking an important step toward our goal of creating a second Kordsa." Stating that operating with the right market strategy brings long-term profitable growth, Çalışkan continued: "While reinforcing our position in the sector through strategic and long-term relationships we have established with our customers in tire reinforcement technologies, we closely monitor market dynamics and manage raw material prices and our sales with the right strategies. In construction reinforcement technologies, we are making a difference in infrastructure and superstructure construction projects with our innovative and high-performance synthetic fiber reinforcement products. Our fiber reinforcements were recently used in the Buca-Bornova Tunnel, Istanbul's longest highway tunnel. As Kordsa, in all our business lines we are expanding both our strengthening area and our impact. As Kordsa, reinforcing one of every three car tires and two of every three aircraft tires in the world with tire reinforcement technologies, today with our construction reinforcement technologies we are strengthening the runways of these aircraft, and in composite technologies we are strengthening the fuselage, engines, wings and interiors of these aircraft."