Arçelik’s sales

Arçelik has published the balance sheet data relating to the fourth quarter of 2022. Sales increased by 74% compared to the corresponding period of 2021 from 22.5 to 39 billion Turkish liras, (1.9 billion euros at current exchange rates) mainly thanks to the internal market.

Exports were depressed in quantity but much more profitable thanks to the weakness of the Turkish lira and the low cost of energy in the group’s plants. 
From a published graph it seems to understand that in Italy sales have contracted by about 5%, less than the European average.

Leveraging, i.e. the ratio between assets and debt, decreased in the fourth quarter thanks to the significant cash generation (the gross margin is around 29%). 

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