Arçelik closed the second quarter with a turnover of almost 47 billion Turkish lira (1.56 billion euros) and a profit of 0.5 billion Turkish lira. In local currency the growth is 45% compared to the II quarter of last year. Net of the acquisition of the Indesit and Whirlpool businesses in Russia, growth still remains 38% even if the figure is partly ‘inflated’ by the drop in the local currency compared to the international ones.

The good performance of the local market (+31%) with significant growth in volumes offset the persistent decline in demand on international markets. The growth of air conditioners was particularly strong (+128% compared to the second quarter of 2022).
Ebitda of 10.8% increased by 3.3 percentage points on last year thanks to the increase in sales and the reduction in raw material costs. Debt was reduced to 2.4 times turnover, despite the impact of the weakness of the Turkish currency.