Page 16 - TURKRptFeb21

4.3 Industrial sectors and trade 4.3.1 PMI Production dynamics
4.3.2 Corporate profits dynamics
4.4 Fixed investment
The manufacturing PMI declined to 50.8 in December from 51.4 in November. Turkish manufacturers experienced difficulties securing raw materials, with suppliers’ delivery times lengthening to the second-largest degree on record. This was a factor in input costs rising at the fastest pace since September 2018.
White goods-maker Arcelik (ARCLK) is targeting nominal revenue growth on a Turkish lira (TRY) basis of 20% y/y in 2021. It reported a 28% y/y rise in its revenues to Turkish lira (TRY) 41bn in 2020 from TRY32bn. Gross profit rose to TRY13.8bn from TRY10.2bn, with net profit rising to TRY2.88bn from TRY953mn.
Major Fixed Investment Announcements in Turkey or by Turkish companies abroad
Firm
Sector
Amount
Investment
Annual Capacity
Location
Jan-21
Maxicells
Pharma
TRY4.2bn
Capacity increase
-
Istanbul
Jan-21
Dicle
Electricity grid
TRY1.45bn
Grid expansion
-
Urfa
Jan-21
Park Cam
Glass
TRY1.15bn
Glass bottle plant
2.7bn
Bilecik
Jan-21
Nemport
Port
TRY1.06bn
Port
1.7mn TEU
Izmir
Jan-21
Tosyali
Industrial zone
TRY631mn
Industrial zone
597 hectare
Zonguldak
Jan-21
Mav Elyaf
Textile
TRY600mn
Spunbond plant
34,107 tones
Tekirdag
Jan-21
Qua Granite
Granite
TRY584mn
Ceramik tile plant
6.7mn m2
Aydin
Jan-21
Sapro
Wet wipe
$5mn
Production plant
45mn packages
Bulgaria
Jan-21
Vivo/China
Mobile phone
$20mn
Montage plant
-
Istanbul
16 TURKEY Country Report February 2021 www.intellinews.com