Turkey’s leading textile manufacturer, Yunsa’s net profit declined to 36.6 million lira in FY24 as against 785.8 million lira recorded in the previous year.
Yünsa’s annual revenues also contracted to 1.94 billion lira in FY24 from 3.16 billion lira in FY23. This substantial decline was an outcome of the ongoing challenges in the textile sector, including global demand fluctuations, inflationary pressures, and supply chain disruptions.
One of the largest integrated worsted fabric producers in Europe, Yünsa has a strong global footprint. The company controls various stages of the production process, potentially offering advantages in terms of quality control and efficiency. However, it is also exposed to risks across the entire supply chain.
The company faces the critical challenge of adapting its business model to navigate the current economic climate. This involves implementing measures to reduce operational expenses and improve efficiency, exploring new product lines or markets to reduce reliance on specific segments, collaborating with suppliers and customers to enhance supply chain resilience, closely monitoring market trends and adjusting production accordingly and modernizing equipment and processes to improve productivity and reduce costs.
