Arçelik Q1 Report 2024
Resilient demand in Türkiye, slight recovery in international markets. Margin expansion thanks to eased costs in 1Q24.
- Consolidated revenues grew by 4.8% y/y in real terms.
- Wholesale & retail demand in Türkiye has grown substantially y/y, while the demand in international markets has shown recovery signs.
- EBITDA margin was 8.0% in 1Q24, up by 64 bps y/y thanks to declining raw material costs.
- Net Working Capital/Sales was 23.4% as of 1Q24.
- Leverage was 2.65x as of 1Q24.
- Beko Europe; transaction with Whirlpool completed on April 1, 2024 and MENA companies are acquired.
Highlights
- Revenue
- TRY72.3bn
- EBITDA Margin
- 8.0%
- OPEX/Sales
- 25.3%
- NWC/Sales
- 23.4%
- Leverage
- 2.65x
- Whirlpool Transaction
- April 1st
