Million-lira payments to executives... Even ÇAYKUR is drowning in debt!

The financial balance at ÇAYKUR, which leads the world in tea consumption, has deteriorated.

According to a report by Mustafa Bildircin from BirGün; the institution, which has reported losses of hundreds of millions of lira almost every year since being transferred to the Turkey Wealth Fund, could not be saved even by its 69 million 265 thousand 331 TL profit for the 2023 fiscal year.

ÇAYKUR's losses carried over to 2024 reached record levels following inflation adjustments. The institution's losses from previous years, which stood at 2 billion 838 million 92 thousand TL in 2022 and 2 billion 777 million 820 thousand TL in 2023, soared to 46 billion 129 million 994 thousand TL after inflation adjustments. 

Furthermore, ÇAYKUR's bank debts also drew attention. 

The institution's bank debt, which amounted to 5 billion 822 million 700 thousand TL in 2023, was listed by year as follows:

 2018: 2 billion TL

2019: 3.5 billion TL

2020: 4.2 billion TL

2021: 5.2 billion TL

2022: 4.8 billion TL

2023: 5.8 billion TL

The total financial benefits provided to ÇAYKUR's board members were also shared in financial reports. It was reported that a total of 938 thousand 845 TL was paid in 2023 to the six-person senior management team, consisting of the Chairman of the Board, members, the general manager, and deputy general managers.

News Source: 12punto