Brisa, the leader of the Turkish tire market with its main brands Bridgestone and Lassa, shared its financial results for the period 1 January-31 March 2022 with the public. The leader of the Turkish tire industry, Brisa, a subsidiary of Sabancı Holding and Bridgestone Corporation, displayed a strong performance in the first quarter of 2022 and added value to its stakeholders. In the first quarter of the year, the Company's total turnover was 2,7 billion TL and its EBITDA size was 101,5 million TL, an increase of 795% compared to the same period of the previous year. In the first quarter of the year, the Company maintained its profitability with effective risk management despite increasing cost pressures, and managed its working capital, sales channels and product portfolio in a balanced way. Working capital turnover reached -2022 days in the first quarter of 9.
Brisa CEO Haluk Kürkçü; “With our production responsibility in the development process of our country, we have ensured the continuity of our operations with the highest level of efficiency. In the challenging global and local conditions of the previous period, we focused on our strategic priorities, managed our costs and expenses correctly, and continued our stable and balanced growth. In this period, when we receive signs of the easing of the pandemic, we observe that the stagnated markets are partially revived. According to the data in the first two months of the year, the European aftermarket, which we observe to have reached saturation, recorded remarkable double-digit growth in the passenger and light commercial vehicle tires segment. Under these conditions, the performance we achieved in exports was of great importance for the overall performance of our company. ”
Focusing on high performance in its international operations with value-added production to ensure this growth, the Company has implemented its strategic steps. With the Lassa brand, Brisa reached the highest shipment amount in a month so far in March 2022, breaking the record for the highest first quarter shipment in export history. It increased its export sales revenues to 49 million USD and completed the first quarter with its breakthroughs. As of February 2022, the company also gained market share in 17 countries with the Lassa brand.
Brisa acquired Arvento Mobil Sistemleri in the first quarter to transform its existing tire-focused business portfolio into a mobility solutions business. This acquisition will enable the company to expand its pioneering services beyond the tire and become a solution partner that makes the lives of fleet owners and drivers easier and brings efficiency and productivity.
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