Report
Ezgi Yilmaz
EUR 103.34 For Business Accounts Only

BGC Partners: AEFES 2Q19 Earnings Review: Better

Anadolu Efes reported a net profit of TL430mn (+895% YoY) in 2Q19, better than market consensus of TL307mn and our expectation of TL245mn… EBITDA (the company’s calculation and including IFRS-16 impact) came in at TL1,380mn (+43% YoY) also beating consensus (TL1,171mn) and our expectation (TL1,127mn).
Underlying
Anadolu Efes Biracilik ve Malt Sanayii A.S.

Anadolu Efes Biracilik ve Malt Sanayii AS is a Turkey-based company, which is engaged in the production, bottling, selling and distribution of beer under a number of trademarks and also in the production, bottling, selling and distribution of sparkling and still beverages with The Coca-Cola Company trademark. The Group owns and operates more than 14 breweries, over five malt production facilities and over 15 facilities for sparkling and still beverages production. Furthermore, the Group has joint control over Anadolu Etap Penkon Gida ve Tarim Urunleri San. ve Tic. AS (Anadolu Etap) which undertakes production and sales of fruit juice concentrates and purees in Turkey. The Group also has joint control over Syrian Soft Drink Sales & Dist. LLC (SSDSD) which undertakes distribution and sales of sparkling and still beverages in Syria.

Provider
BGC Partners
BGC Partners

BGC has been one of the major market players in Turkish OTC debt, FX and swaps markets since 1998.

We started offering corporate finance and investment banking services to our clients in 2013. We offer a complete range of financial services to help our clients achieve their goals. Our main areas of activity within investment banking are as follows:

  • Mergers & Acquisitions
  • Equity Capital Markets
  • Debt Finance & Advisory

Analysts
Ezgi Yilmaz

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