Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. D

Kardemir Karabuk Demir Celik Sanayi ve Ticaret manufactures and sells raw iron and steel products and coke and coke side products. KARABUK Co.'s products include: Steel Products - Blooms, Billets and Beam Blank; Rolling Mill Products - Hot Rolled Round Steel (Bars), Hot Rolled Round Steel (Deformed Bars), Steel Nip Beams, Steel Npu Profiles, Equal Angles, GI Profile, Rails and Billets; Coke Products - Coke Plant Products, Ammonium Sulphate, Pressed Naphthalane, Tar Paint, Carbolic Oil, Grude Benzole, Refine Washed Oil and Crude Tar and Other Products - Pig Irons, Granule Slag, Oxygen, Nitrogen, Argon.
  • TickerKRDMD
  • ISINTRAKRDMR91G7
  • ExchangeIstanbul Stock Exchange
  • SectorIndustrial Metals & Mining
  • CountryTurkey

Kardemir Karabuk Demir Celik Sanayi: 1 director bought

A director at Kardemir Karabuk Demir Celik Sanayi bought 1,600,000 shares at 3.355TRY and the significance rating of the trade was 68/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing ru...

Erdem Kaylı

Kardemir (KRDMD TI) - Operationally in-line: Maintain Hold

Operationally in-line As we expect weaker long steel demand impacted by the Covid-19 pandemic and update our macro forecasts, we maintain our HOLD rating on Kardemir, with nominal revision to our 12M TP of TRY2.71 (+8% upside potential).Even though fall in coking coal price could result in better profitability outlook for Kardemir in the short term, we expect cash generation to remain muted, owing to stagnant steel demand outlook. Kardemir reported net loss of TRY162m in 1Q20, better than our loss estimate of TRY219m and Research Turkey consensus loss estimate of TRY201m. The deviation at th...

KARDEMIR 'D' AS reduced its risk exposure resulting in an upgrade to Slightly Positive

KARDEMIR 'D' AS (TR), a company active in the Steel industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 3 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Slightly Positive. As of the analysis date May 15, 2020, the closing price was TRY 2.50 and its potential was estimated at TRY 2.74.

Erdem Kaylı

Kardemir (KRDMD TI) - Unenthusiastic recovery ahead: Maintain Hold

Kardemir reported net loss of TRY129m in 4Q19, weaker than our loss estimate of TRY105m, but roughly in-line with Research Turkey’s loss estimate of TRY139m. Despite better than expected operating profitability and deferred tax gain of TRY24m, the divergence at the bottom-line originated from higher than expected financial expenses. Operationally, 4Q19 EBITDA of TRY79m came better than BNPPe of TRY34m and RT consensus of TRY55m. EBITDA/ton of USD24/t in 4Q19 came above BNPPe of USD10/t (vs USD128/ton in 4Q18). Despite the dismal steel making margins driven by weak steel prices, we envisage tha...

Erdem Hafizoglu

BGC Partners: Kardemir <KRDMD TI, KRDMA TI, KRDMB TI> reported TL128.6mn net loss in 4Q19, in line (consensus: -TL139mn, BGC: -TL134mn), operationally slightly better

Similar to Erdemir, Kardemir posted weakest margins of the year in 4Q19 with 5.3% EBITDA margin (vs. 9.5% in 3Q19, 14.9% in 2Q19, and 12.4% in 1Q19) on declining steel prices (spreads) as expected. In the quarter, Kardemir sold 569k tons of steel products (3Q19: 483kt, 2Q19: 564kt, 3Q18: 504kt), above our 525kt estimate; and reported TL1,491mn revenues (down by 8.6%, y/y), better than consensus estimate of TL1,384mn (BGC: TL1,337mn).

Kardemir Karabuk Demir Celik Sanayi: 1 director bought

A director at Kardemir Karabuk Demir Celik Sanayi bought 1,600,000 shares at 3.355TRY and the significance rating of the trade was 68/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing ru...

Erdem Kaylı

Kardemir (KRDMD TI) - Operationally in-line: Maintain Hold

Operationally in-line As we expect weaker long steel demand impacted by the Covid-19 pandemic and update our macro forecasts, we maintain our HOLD rating on Kardemir, with nominal revision to our 12M TP of TRY2.71 (+8% upside potential).Even though fall in coking coal price could result in better profitability outlook for Kardemir in the short term, we expect cash generation to remain muted, owing to stagnant steel demand outlook. Kardemir reported net loss of TRY162m in 1Q20, better than our loss estimate of TRY219m and Research Turkey consensus loss estimate of TRY201m. The deviation at th...

Erdem Kaylı

Kardemir (KRDMD TI) - Unenthusiastic recovery ahead: Maintain Hold

Kardemir reported net loss of TRY129m in 4Q19, weaker than our loss estimate of TRY105m, but roughly in-line with Research Turkey’s loss estimate of TRY139m. Despite better than expected operating profitability and deferred tax gain of TRY24m, the divergence at the bottom-line originated from higher than expected financial expenses. Operationally, 4Q19 EBITDA of TRY79m came better than BNPPe of TRY34m and RT consensus of TRY55m. EBITDA/ton of USD24/t in 4Q19 came above BNPPe of USD10/t (vs USD128/ton in 4Q18). Despite the dismal steel making margins driven by weak steel prices, we envisage tha...

Erdem Hafizoglu

BGC Partners: Kardemir <KRDMD TI, KRDMA TI, KRDMB TI> reported TL128.6mn net loss in 4Q19, in line (consensus: -TL139mn, BGC: -TL134mn), operationally slightly better

Similar to Erdemir, Kardemir posted weakest margins of the year in 4Q19 with 5.3% EBITDA margin (vs. 9.5% in 3Q19, 14.9% in 2Q19, and 12.4% in 1Q19) on declining steel prices (spreads) as expected. In the quarter, Kardemir sold 569k tons of steel products (3Q19: 483kt, 2Q19: 564kt, 3Q18: 504kt), above our 525kt estimate; and reported TL1,491mn revenues (down by 8.6%, y/y), better than consensus estimate of TL1,384mn (BGC: TL1,337mn).

Erdem Kaylı

TURKEY STEEL - Poised for a recovery

Slowing steel production in China has caused raw material prices to normalize, indicating better margins for Turkish integrated steel companies, in our view. After a painful 2019, as input cost surged amid falling product prices, we believe that the worst is likely to be over by 4Q19 and a gradual recovery in margins should kick in, owing to the modest increase in steel prices and a normalization of iron ore prices. Even though we expect the price recovery to be gradual based on a stagnant demand outlook, we believe that tightening supply-demand balance should provide better margins for blast ...

Feasibility Study Results in December to be a Catalyst for this Junior

Feasibility Study Results in December to be a Catalyst for this Junior