Pınar Et, which continues to lead the total processed meat market with a turnover share of 17.5%, maintained its leadership of the industry with production that employs the latest technology and focuses on quality in all its processes.
Pınar Et has a slaughtering and processing capacity of 102 thousand bovine animals, 408 thousand ovine animals, and 1.8 million turkeys within the scope of its activities in a 50 thousand m2 indoor and 259 thousand m2 outdoor area. In 2021 the Company offered a total of 350 products in eight categories. Pınar Et maintained its leadership position in 2021 across numerous categories it produces into international standards. The Company concluded the year with a 17.5% turnover share of the overall processed meat market, compared to its closest competitor’s 10.9% share (Nielsen, 2021, excluding BİM).
In 2021, Pınar Et achieved a sales volume of 33,329 tons and a turnover of TRY 1,117.6 million. Turnover grew by 32.8% compared to the previous year. Achieving a gross profit of TRY 185.1 million, the Company ended the year with a net profit of TRY 146.9 million. And with a fixed asset spend of TRY 74.0 million, Pınar Et's 2021 capacity utilization rate was 72%.
Benefiting from state incentives and related tax advantages per the "Implementation and Audit Regulation on Supporting Research and Development Activities," the Company also received incentives within the scope of the Turquality project implemented by the Undersecretariat of Foreign Trade to brand Turkish products abroad and establish the image of Turkish goods.
INTERNATIONAL MARKET STUDIES
Pınar Et, which exports to over 20 countries, also entered the markets of Australia, Kazakhstan, Georgia, and Canada in 2021, generating export revenue of USD 4.3 million.
Pınar Et’s leading export markets include the UAE, Kuwait, Qatar, Bahrain, the United States, Germany, Iraq, Azerbaijan, and the TRNC.
Pınar Et continues to effectively serve global markets with its product categories that include Turkish and global flavors. The brand is mainly preferred by consumers in foreign markets for its qualified delicatessen products made from turkey meat and its pastry varieties from among the traditional flavors of Turkish cuisine.
Pınar Et offers plant-based protein products to consumers worldwide under the Pınar brand, having become a full-fledged protein source company with its products in this category. Falafel, Veggie Bites and Onion Rings are among the most significant of these products.
16 New Export Products
Adding frozen bakery product varieties to its product range in the United States market in 2021 after seafood and vegan products, Pınar Et continued to develop its commercial relations with that market in terms of export volume.
Having conducted various product studies, Pınar Et has been offering traditional tastes of Turkish culinary culture to all export markets, especially the Gulf countries, since 2020.
FUTURE GOALS
Continuing to deliver high-quality and delicious meat, bakery products, and plant-based products to its consumers without interruption, Pınar Et aims to improve its status as a supplier to globally renowned food retailers by adding new brands to its portfolio.