Turkey's commercial vehicle brand Anadolu Isuzu has announced its financial results for 2021. Anadolu Isuzu's net sales, achieving successful financial results with its high performance in domestic and international markets, increased by 116% compared to the previous year and amounted to 2,678 million TL. The company's domestic sales in 2021 increased by 92%, while export sales grew by 162%. Anadolu Isuzu's profit before interest and taxes (EBITDA) in 2021 increased by 163% compared to the previous year and reached 302 million TL. With net revenue increasing by 116% in 2021, the gross profit margin improved by 81 basis points compared to the previous year and rose to 21.1%. The EBITDA margin, which was 9.2% in 2020, stood at 11.3% in 2021.
In 2021, Anadolu Isuzu sold a total of 5,057 commercial vehicles, 4,051 to the domestic market while 1,006 to foreign markets. Compared to 2020, the company's total sales volume increased by 65.9%. In domestic sales, Anadolu Isuzu recorded an increase of 48.1% in the truck segment, as well as 231.7% and 110% increase, in the pick-up and bus segments respectively. in domestic sales. The increase in total domestic sales in 2021 was 63 percent. Meanwhile, the number of sales to the foreign markets, increased by 78.7 percent compared to the previous year in all segments combined.
Anadolu Isuzu managed the exchange rate risk precisely in 2021, at a time when the changes in the exchange rate followed a fluctuating course depending on the ongoing pandemic conditions, global risks and macroeconomic indicators. While the rise in important raw material prices continued from the last quarter of the previous year until the end of 2021, there were serious increases in freight prices also occurred, compared to the pre-pandemic period. Meanwhile, the sectoral change in global demand that emerged with the pandemic, the supply for the chips to reached to a global problem, combined with the other ones. Also, handling the worldwide volatility in raw material and freight prices successfully, owing to the long-term contracts, Anadolu Isuzu announced that there is no risk at a level that will affect their financial statements in the short-medium term, regarding chip supply.
The annual financial results reflect Anadolu Isuzu‘s high performance throughout the year
the year-end financial results of the company, Anadolu Isuzu General Manager
Tuğrul Arıkan said “As Anadolu Isuzu, we achieved a high performance in
2021, when the effects of the pandemic continued. With our vision of Industry
4.0 and digital transformation, we took our production infrastructure further
by integrating Smart Factory technologies. By this way, we have met the demands
and needs of our domestic and foreign customers in the best possible way and
increased customer satisfaction even further through tailor-made manufacturing.
Our exports increased significantly in 2021, especially in the medium-size
coach segment, and became the 'Export Champion' for the 18th time in
that segment. The success we achieved through this performance was also
reflected in our company's annual financial statements. I would like to thank
all my colleagues and valuable business partners who contributed to our
successful results in 2021. As Anadolu Isuzu, in 2022, we are raising the bar
even higher in every segment we make production, and aim to continue our growth
with addition of new markets abroad while strengthening our position in the existing
ones. As Anadolu Isuzu, we will continue to contribute to the domestic
production power, export and economy of our country, as we have done so far.”