Çimsa's subsidiary Afyon Çimento increased its turnover in 2021 by 53 per cent compared to the previous year, from TRY270m (US$19.5m) to TRY413m. Net profits rose from TRY17m to TRY77m with an increase of 351 per cent.
Çimsa General Manager, Umut Zenar, said, "Despite the changing world order as of 2020 and the economic conditions affected by this, we achieved successful financial results in 2021. As Afyon Cement, we strengthen our influence in the domestic market with our expertise in grey cement and our innovative perspective, with the export opportunities we focus on. Today, we are also in the American market, which is one of the largest cement markets in the world."
Highlighting their positive performance in terms of balance sheet management in 2021, Mr Zenar said, “Our debt decreased to TRY77m in 2021.”
In addition to its financial results, Mr Zenar stated that Afyon Cement has become an active player in global markets with its effective sales and distribution power, market and customer-oriented approach, and marketing activities.
"As Afyon Cement, we are also present in the American market, which is one of the largest grey cement markets in the world, with a grey cement market size of over 100Mt with our expertise and innovative perspective in the field of grey cement."
Afyon Cement is a subsidiary of Çimsa within the Sabancı Group.
