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Baymak Achieved 74 Percent Growth in the First Half of the Year

25 July 2023
Baymak Achieved 74 Percent Growth in the First Half of the Year

Leading the energy transformation in the air-conditioning sector in Türkiye by offering smart air-conditioning products and solutions for a sustainable future in line with the expectations and needs of its customers, Baymak increased its turnover by 74 percent in the first six months of the year compared to the same period last year, reaching TL 2.2 billion. Stating that they achieved growth well above the market in the first half of the year, Baymak CEO Ender Çolak said: "Celebrating its 54th anniversary this year, Baymak is expected to reach a turnover of approximately 5 billion TL in its 10th year within the BDR Thermea Group, far exceeding our 50 percent growth target. This success is the result of the increasing trust of our consumers day by day."

Leading the energy transformation in Türkiye with its innovative and environmentally friendly products, Baymak continues its sustainable growth. In the first six months of 2023, Baymak increased its turnover to 2.2 billion TL with a 74 percent growth compared to the same period of the previous year. Baymak CEO Ender Çolak, who evaluated the data for the first 6-month period, said that they anticipate to close the year 2023 with a turnover of approximately 5 billion TL, far exceeding the 50 percent growth target they set at the beginning of the year.

Çolak said, "We successfully completed the first half with 82 percent growth in the combi boiler and 136 percent growth in the water heaters group on a quantity basis. While the combi boiler market grew by 40 percent, Baymak achieved twice the growth of the market. We are talking about a growth far above the market. Behind these successful business results are the ever-increasing trust of our dealers and consumers, superior service quality and our expert team that is growing stronger and stronger with our new dealers joining us. In the air conditioner category, in parallel with the rising temperatures, our growth will reach 20 per cent by the end of the month compared to the same period of the previous year. Of course, the appreciation of Baymak Elegant Plus UV, which we launched this year, by our consumers has a big share in this."

Pointing out that access to financing is one of the most important problems of the air conditioning sector, Çolak said, "New methods are being sought to support distribution channels that have difficulty in accessing financial resources to overcome this problem. In line with Baymak's innovative approach, we offer a new financing opportunity to our dealers by cooperating with Figopara, a new generation receivable financing platform that enables SMEs and businesses to access financing quickly with the solutions it has developed in addition to mediating supplier financing."

With new and ongoing investments, BDR Thermea Group is one of the key players in the energy transition in Europe.

Emphasising that the issue of sustainability is on the agenda of countries and companies more today with many international regulations such as the Paris Climate Agreement, various obligations set forth by the United Nations, as well as the Green Memorandum of Understanding of the European Union, Çolak said, "The demand for low carbon alternatives in the air conditioning sector is increasing. While there is a rapid transition from natural gas to electricity in Europe, the heat pump stands out as the main product. Our group BDR Thermea invests in heat pumps, hydrogen compatible products and hybrid solutions with its leadership role in energy transformation and sustainability. In the first half year, BDR Thermea Group grew by 53 per cent in the heat pump category. Its global investment in carbon-neutral smart solutions reaches EUR 500 million. The Group committed to reduce scope 1 and scope 2 emissions by 55 per cent in the 2019-2030 period until 2030. As Baymak, one of the important players of the Group, we are also acting in accordance with this."

"Türkiye will keep pace with the energy transformation in Europe, albeit with a delay"

Pointing out that BDR Thermea Group has become the leader in heat pumps with an investment exceeding 250 million Euros, Çolak said, "There was a recession in the heat pump market in Europe. The data published recently shows that Europe has come out of recession. With economic growth, the momentum in the heat pump market will continue its upward trend. Turkey will keep up with the energy transformation in Europe with a delay." Stating that this transformation will start to accelerate in the next 3 years, Çolak stated that the number of heat pumps sold in our country will approach the boiler in 2030.

Çolak emphasised the importance of preparing for this transformation as of today, even if Türkiye will join the energy transition in Europe with a delay, and drew attention to the necessity of training qualified personnel and making legal arrangements to encourage this transformation, especially for the widespread use of heat pumps. On the other hand, he stated that BDR Thermea Group will support the hydrogen studies in Turkey as well as the studies carried out in Europe for boilers that are 100 per cent compatible with hydrogen, the clean fuel of the future.

"We are increasing our boiler production capacity to 200 thousand units"

Emphasising that they continue their investments as well as sustainable growth without slowing down, Ender Çolak said, "Our main motivation is to bring a sustainable future closer by offering innovative products for the expectations and needs of our consumers. As Baymak, we expect our R&D, product and line investments to reach 15 million Euros in 2023."

Stating that they are focusing their investments in Turkey for the boiler, which is one of the most critical products of the energy transformation in Europe together with the heat pump, Çolak said, "In this context, we will increase our boiler production capacity from 35 thousand units per year to 200 thousand by investing 8 million Euros in production. Thus, as Türkiye, we are becoming the main boiler manufacturer of BDR Thermea Group. From here, we will create a serious export potential to Europe."

In the last 10 years, Baymak's product-oriented approach has been replaced by a human and sustainable future-oriented approach

Stating that the most fundamental transformation at Baymak is to move from a product-oriented structure to a people-oriented structure, Çolak said, "Baymak, which recently celebrated its 54th anniversary, has become the most important brand of customer experience by moving to a sustainable future-oriented structure in the last 10 years within BDR Thermea Group."

"For Baymak, 2013 was the year when change and transformation began. In 2013, when we became a fully BDR Thermea Group company, we became the market leader in condensing boilers with the Lectus boiler. The following year, Baymak was awarded the first prize in the 'Excellence Awards' in 'Lean Production' among BDR Thermea Group companies. Since 2018, we have been one of the fastest growing companies of BDR Thermea Group. In 2021, I can say that we also pioneered digital transformation in the air conditioning industry by establishing the first 'Digital Transformation Office' of our industry. We introduced Lunatec, Turkey's first combi boiler powered by hydrogen and natural gas energy, to our consumers. Turkey has become the production base of Lunatec combi boilers produced with BDR Thermea Group's R&D technology and we export them. As a company that always closely follows trends and leads change, we opened our stores in e-marketplaces with our Dolce Vita branded products."

Stating that significant progress has been made towards becoming an employer brand, Çolak said, "In this period, we reshaped Baymak's human resources strategy in line with 'Sustainable Development Goals'. We increased our female employee ratio to 42 per cent, which is quite high when it comes to industry. By 2025, we aim to increase the number of female employees by 25 per cent. Within the scope of Baymak Academy, we provided approximately 100 thousand hours of vocational training to more than 30 thousand people. We also provided 'Introduction to Sustainability and Sustainable Development Goals Training' to all our stakeholders. We initiated green transformation in our offices together with our employees and received the 'LEED Gold Certificate' as a result of devoted efforts. The 'Baymak Sustainability Dictionary', which we started by saying 'Our Job is to Understand the World', made an impact. We aim to raise awareness on many issues such as the proper use of resources, technological developments, corporate changes, and environmental needs by making the words in our dictionary, which we have compiled the basic concepts and terms related to sustainability in a plain language that everyone can understand, available to the widest possible audience through media such as newspapers, television, radio, and the internet since 5 June World Environment Day."

Customer satisfaction crowned with an award for the 5th time

Stating that they adopt excellent customer experience as one of their basic principles, Çolak continued his words as follows: "I constantly emphasise this because I think it is very important. In addition to products, systems also come to the fore here. Since we now focus on technology in our business, we have designed brand new systems. We manage the customer experience process in a completely different way by using artificial intelligence-supported programmes. According to the artificial intelligence technology data we use with the aim of understanding and listening to our consumers, being aware of their feedback and providing complete service, there has been a great increase in the trust of our customers and dealers in Baymak in the last 10 years.

Thanks to the fast and high quality service we provide with over 1,000 technical personnel in addition to our over 300 authorised services spread all over Turkey on a regular basis every day, we, as Baymak, have performed 5 times more installations compared to the same period of last year before the end of this month. We also digitalise our after-sales processes to accelerate and improve customer experience. In line with the improvements we have made in our call centre infrastructure, which we actively use, we receive 52 percent of our customer requests digitally. We are happy to see that all these efforts are met with the appreciation of our consumers. For the fifth consecutive year, we have ranked first in the A.C.E. Awards in the heating systems category with our success in contact speed, complaint resolution speed, satisfaction with the result and thank you ratios, and we have received the 'Diamond' award. We will continue our efforts to keep customer satisfaction at the highest level with our products and services by keeping our motto 'Our Job is to Understand You'."


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