Teknosa grows by 580 percent in e-commerce and pulls its operating profit into positive territory in Q2, despite the pandemic

ISTANBUL, Aug. 12, 2020 /PRNewswire/ -- Teknosa, a subsidiary of Sabanci Holding, achieved TL 955 million turnover and TL 27.5 million operating profit in the second quarter of 2020 thanks to investments made in technology and customer experience, despite the global pandemic. While Teknosa achieved a record-breaking growth of 580 percent in e-commerce, year-on-year, in the second quarter, the reopening of stores in June had a significant positive impact on the strong results.

Teknosa, the leading technology retailer in Turkey and a subsidiary of Sabanci Holding, achieved robust financial results in the second quarter of 2020 despite the global pandemic. Its revenues reached TL 955 million and its operating profit reached TL 27.5 million, pulling it firmly into positive territory. Teknosa's success in this period rested on its capability to introduce innovative services that met its customers' changing needs, the leap in online sales, the initiatives in supply chain, cash and human resources management, and on the strong performance of the stores re-opening with the introduction of top-level pandemic precautions in June. As a result, Teknosa's total turnover for the first half of 2020 increased by 8.7 percent compared to the previous year and reached TL 2.4 billion.

While the customer-focused transformation and the investments made in digitalization with the motto: "Teknosa of the New Generation", had a positive impact on the second quarter results in terms of turnover, basket growth, and operating profit, Teknosa.com and the mobile platform achieved record-breaking results during the pandemic. Teknosa attained a nearly six-fold growth in online sales year-on-year in the second quarter and increased its online turnover for the first half to TL 559 million.

Regarding the financial results for the second quarter of 2020, Bari? Oran, Chairman of Teknosa, said, "Teknosa achieved stronger results despite keeping all stores closed due to pandemic throughout April and May. We increased our market share, strengthening our position in the sector. We adapted to the changes quite rapidly thanks to our sustained efforts in customer-oriented transformation and our investments in digitalization. We focused on serving our customers well through better predicting their preferences through data-based decision making. Our services that respond to changing customer needs ensured that we stood out in the competition. The increase in consumer confidence in June had a favorable impact on the performance of our stores. During the pandemic, demand for technology products kept up along with basic needs. We expect this trend to persist, positively affecting the growth of the sector. As Teknosa, we will reach our customers more effectively through our widespread store network and online channels by accelerating our investments for providing the best shopping experience. Providing seamless omnichannel experience to our customers will continue to be our focus."

The online and offline grow together in the "New Normal"

Expressing that they have focused on managing the challenging pandemic process with all Teknosa stakeholders in a healthy and agile manner, Bülent Gürcan, Teknosa General Manager, said, "Each of the months of April, May, and June had different stories and generated different lessons. In this period, we once again noticed how crucial technology has become in everyday life. While taking top-level health and safety precautions for the well-being of our employees and customers, we focused our attention on continuing our business and meeting the needs of our customers. While our stores were closed, we provided our customers the opportunity of shopping anytime, anywhere, and in any manner. Our successful efforts to effectively keep up with the changes in the operating environment were reflected positively in our results. To present better online services to our customers, we put in place offerings like live support (livechat), bundle product sales, and tele-sales. Along with the fast and diverse delivery options, and introduction of new products responding to the emerging needs of our customers, customer-oriented omnichannel investments we made during recent years had a substantial impact on this success. We opened corners in 23 Carrefoursa stores to fulfill the needs of our customers in every channel in the period in which our stores were closed. Our operating profit turned into positive and improved significantly compared to the previous year in these challenging times. Our online channels during the time we were self-isolating at our homes, and our widespread network of stores in Turkey during the process of normalization massively improved their performance through actions taken. With the reopening of our stores, we are taking top-level precautionary measures by prioritizing the health of our employees and our customers, as we have done so from the very beginning of the pandemic. We will carry on working to respond to the needs of our customers in both the online and the store channels and to ensure that they receive the best service."

About Teknosa

Teknosa was incorporated in 2000 as a subsidiary of Sabanci Holding to create a sales and marketing platform in the fields of electronics, informatics, communication, personal care, and optics in the technology retail sector. Teknosa is a retail chain aiming to present consumers with the most suitable products by bringing them together with the highest service quality and best prices in the field of technology. Having the first and most extensive store chain operating in the field of technology retail in Turkey, Teknosa presently provides uninterrupted services in omnichannel environments, through its stores, teknosa.com, and the mobile platforms. Teknosa is the only technology retailer providing mobile line and communication services with its Teknosacell brand. More detailed information is available at www.teknosa.com.

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SOURCE Teknosa