As Kordsa, we transformed ourselves into a company that innovates, produces, and offers advance technology to the whole world, and we continued to take leaps forward to contribute to the development of our country throughout 2020 by successfully managing the pandemic our world has experienced for the first time on such a scale in its modern history. Thanks to the advantages of being a global company with establishments in five different countries, we served our customers with speed and agility, and maintained continuity in business.
We continued to create profitability in all the geographies we were operational in with our strategic decisions and reinforcement technologies. Thanks to our strategic investments and industry-leading technologies, we closed the year 2020 with TRY 4. 5 billion turnovers. Our period profit has been TRY 150 million, and our main operational profit has been TRY 384 million.
We Put Our Name on Global Projects in Composites Field!
In 2020, we continued to expand our field of impact and deepen our abilities along with four major companies we added to our group from the composite’s world through acquisition in the preceding period. With Fabric Development we reached out to the sky and provided NASA with the fabric they used in the Orion Capsule, and with Axiom Materials we extended our high-temperature resistant Oxide-Oxide ceramic composite materials portfolio to applications reaching up to 1,400°C. We also had our signature on another important success by having the battery cell caps made in England use the fiber fabrics we produce with our extensive experience and know-how in advanced material technologies, which will be revolutionary in making the future of mobility electric vehicles even lighter.
In 2020, the subsidy we received from the government as part of Turquality Scheme decreased by 42% down to TRY 345,000.