TürkTraktör, the longest-established manufacturer in Türkiye’s automotive sector, has announced its financial results for 2024.
In 2024, TürkTraktör produced 43,611 tractors, accounting for 60% of Türkiye’s total tractor production and 73% of its tractor exports. According to the company’s financial data, TürkTraktör achieved total revenue of 66.97 billion TL, with an operating profit margin of 11.9% and an EBITDA margin of 14.7%. The company’s net profit for the year was recorded at 5.741 billion TL.
TürkTraktör Maintains Market Leadership for 18 Consecutive Years
In the domestic market, TürkTraktör sold 31,974 tractors in 2024, while exports reached 12,516 units. With its two brands, New Holland and Case IH, the company held a 46.2% market share, extending its uninterrupted market leadership to its 18th year.
Aiming to expand its influence in the agricultural equipment sector, TürkTraktör signed a Share Purchase Agreement in 2024 to acquire 100% of the shares of Kayhan Ertuğrul Makine Sanayi ve Ticaret A.Ş., its subsidiary Kayhan Ertuğrul Tarım Sanayi ve Ticaret A.Ş., and Terramak Tarım Makinaları Dış Ticaret A.Ş. The acquisition is pending approval from the Turkish Competition Authority.
Additionally, TürkTraktör strengthened its cabin assembly line at the Erenler factory and launched trial production at its new cabin frame manufacturing facility at the end of 2024.
TürkTraktör CEO Highlights Resilience Amid Market Challenges
Commenting on the company’s 2024 financial results, TürkTraktör CEO Matthieu Séjourné stated:
“As we celebrate the 70th anniversary of our company, I would like to extend my gratitude to all TürkTraktör employees for their contributions to maintaining our leadership. In a challenging year where the market contracted by 18% following a record-breaking 2023, our New Holland brand ranked first, while Case IH secured the second position. The dedication of our team in adapting to these new market conditions has enabled us to achieve these results and prepare for the future.
As a company that firmly believes in the long-term high potential of Türkiye’s agricultural sector, we remain committed to investing in the future of farming and urban development with the same passion and determination as on our first day. I would also like to express my sincere appreciation to our farmers, who continue to choose our products, as well as to our dealers and suppliers for their valuable contributions.”
Source: Foreks/ Prepared by: İlayda Gök