Arcelik Q3 Report 2023
Solid revenue growth momentum and annual margin improvement at all lines maintained.
- Consolidated revenue growth of 70% y/y driven by continued strong unit growth in
Türkiye, strategic pricing initiatives and TRY depreciation.
- Strong unit growth in Türkiye
- TRY depreciation on both q/q & y/y
- Price increases on both q/q & y/y
- Wholesale & retail demand in Türkiye remained strong while the demand in international markets continued to decline.
- EBITDA margin was 10.6%, up by 190 bps y/y thanks to eased raw material costs, strong Türkiye operations and strategic pricing across regions.
- Net Working Capital/Sales was 23.4% as of 3Q23.
