Good performance for Arçelik


Arçelik closed the third quarter of the year with a net sales value of 5.4 billion TRY. The Turkish company announced a slight improvement in European Major Domestic Appliances retail market compared to first half and a slightly improving growth in Western Europe, as well as strong performance in Eastern Europe, positive signals in South Africa and political turmoil affecting demand in Middle East. The acquisition of Dawlance in Pakistan has been consolidated with satisfaction. Total sales of the Group major domestic appliances recorded a growth by 16% compared to Q3 2016, slightly above the market average (+18%) year over year. A substantial growth in air condition sector was also recorded by the company (+65% in Q3). Beko continues to be the runner-up brand in total Europe, while Grundig MDA continues to grow in premium segment with sales growth over 70% in Q3