Today.Az » World news » Turkish machinery company net profit hits $4.1m in Jan-Sep 2021
11 November 2021 [17:45] - Today.Az
By Vugar Khalilov
The Turkish Machinery Company TUMOSAN’s net profit has amounted to 40.8 million TL ($4.1m) in the first three quarters of 2021, Yeni Shafak newspaper reported on November 10.
In the first nine months of 2021, the company's total revenue increased by 89 percent compared to the same period of 2020, amounting to 855 million TL ($86m), the report added.
According to the independent audit reports, the company increased the number of sales by 41 percent and the production amount by 67 percent compared to the same period of the previous year, making a significant contribution to domestic production.
The company's gross profit margin saw a 23-percent increase during the said period.
“As TUMOSAN, we made a strong start in 2021. We continue with the same momentum as we enter the last quarter of the year. We continue to invest, produce and develop technology with all our might for the purpose of a new and sustainable national agricultural policy,” TUMOSAN General Manager Halim Tosun stressed.
He added that thanks to the domestic and national supply chain, the company survived the pandemic without experiencing a perceptible negative situation, especially in terms of production and sales.
TUMOSAN, which invests in the field of armored combat vehicles in the Turkish defence industry, entered a new period in production.
In line with the memorandum of understanding signed between the two companies, HAVELSAN’s DOOB/HARB?YE-Tactical Command and Control Information System will be integrated with intelligence, surveillance and reconnaissance systems to be used in PUSAT and similar platforms developed by TUMOSAN.
The HAVELSAN KASK system enables the Global Navigation Satellite System (GNSS) receivers on military and civilian systems to produce the needed position information and continue their duties despite jamming. It will be installed in PUSAT armored vehicle and other similar products of TUMOSAN.
Chemical, biological, radiological, nuclear (CBRN) products developed by HAVELSAN against relevant threats and dangers will also be integrated into PUSAT and similar platforms developed by TUMOSAN.
TUMOSAN, which has been producing Turkey's first and only domestic-national tractors for farmers, continues to take steps in this field.
The company is developing a new-generation engine product family for the agricultural sector developed in line with the EU standards.
TUMOSAN is preparing to break new ground once again in Turkey by completing the tests of its engine with electronic control, high pressure line and exhaust purification systems.
The company continues to develop its works and investments every day in order to ensure the sustainability of agricultural production activities.
“Currently, we are receiving intense demand from our 23 overseas distributors, especially from the Balkan countries, the Middle East and Africa. We export especially to the Middle East countries. We continue our preparations for the European tractor market with all our strength," Tosun underlined.
Developed to provide economical and domestic solutions for floating platforms in Turkey. Tosun noted that the company had completed the localization activities of the diesel engine for the naval forces with the help of domestic resources.
In this context, the company also signed an important strategic cooperation agreement in June 2021.
Additionally, the company displayed the marine versions of the 310 hp TMSN 5.4 and 450 hp TMSN 7.4 engines for the first time at the IDEF 2021 defence industry fair.