Sun Tekstil, one of the leading brands in Turkish apparel production and exports, announced its financial results for 2024. In 2024, the consolidated net profit of Sun Tekstil and its subsidiary Ekoten Tekstil reached 904 million TL with an increase of 159%. Evaluating the 2024 financial results, Sun Tekstil Chairperson of The Board Elvan Ünlütürk said, “While leaving behind a year in which geopolitical tensions continued and global uncertainties increased, we completed 2024 by maintaining our strong financial structure despite the challenges.”
Ünlütürk stated that they continue their investments decisively in line with their global growth targets and long-term strategic vision and commented: ‘Throughout 2024, we will continue to invest in Sun Tekstil:
“During 2024, we sold 39 million clothes as Sun Tekstil and 7 million kg of knitted fabric as Ekoten Tekstil and increased our sales revenues by 15% compared to last year, from 301 million euros to 345 million euros (12 billion TL). As a Group that exports 87% of its consolidated sales abroad, we are proud to be among the top exporters in the Aegean Region Apparel and Garment sector in 2024 at Sun Tekstil.”
“Sun Tekstil continued to prioritise its operational efficiency and effective cost management despite economic fluctuations, flat exchange rates, increasing inflation rates and rising raw material and labour costs throughout 2024,” said Ünlütürk and shared the figures as follows: “In this way, the gross profit margin was maintained at 21% and a successful strategy was followed against inflation and cost increases. EBITDA reached TL 1.7 billion with an increase of 8% and EBITDA margin was realised as 14%. In addition, Sun Tekstil managed to increase its net cash position by 378% from 103 million TL to 492 million TL in 2024.”
Sun Tekstil integrates AI technologies into its business model with Refabric investment
Referring to their recent investments, Elvan Ünlütürk noted, “Sun Tekstil’s new production facility in Torbalı Organised Industrial Zone, which was completed in 2024, came into operation, and Ekoten Tekstil accelerated its preparations for capacity-enhancing building and machinery investments. The 40% increase in total investment expenditures in 2024 compared to the previous year indicates Sun Tekstil’s importance to sustainable growth and expanding its production capacity.”
Stating that in 2025, Sun Tekstil made an important move towards digital transformation and innovative design processes, Ünlütürk said, “We decided to invest in Refabric, an artificial intelligence-based design platform within the US-based Mintgrams Technologies, Inc. With this investment, we aim to digitalise our design processes and integrate productive artificial intelligence technologies into our business model. We will continue to make a difference in the fashion world by offering faster, creative and sustainable solutions.”
In addition, Ünlütürk evaluated Sun Tekstil’s targets; “For 2025, we aim to grow in both euro and Turkish lira, as in previous periods. We can update our targets with the investments and capacity increases we will complete in 2024 and 2025.” Stating that they export approximately 3 million units of products per month; she added that they are working to further increase their exports by serving their customers in nearby markets with a total of five design offices, one in Izmir, two in Spain and two in the UK.