BGC Partners: Aselsan <ASELS TI> reported a net profit of TL642mn in 3Q19 (cons: TL578mn, BGC: TL540mn); operationally in line, cash flow continued to deteriorate…
The company posted TL3,023mn revenues in 3Q19 (up by 56.3% y/y), in line with the consensus estimate of TL2,928mn (BGC: TL2,935mn), supported by growing business volume. Note that it is difficult to forecast quarterly financials of Aselsan as the performance may vary significantly based on the accounting method (also tax gains and FX gains/losses make the bottom line even more volatile) and contracted deliveries.
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
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