Report
EUR 343.38
For Business Accounts Only
BGC Partners: TURKISH FOOD RETAILERS: A Snapshot of Operating Performance and Free Cash Flow
We attempt to present a side-by-side comparison of the three Turkish food retailers; BIM (HOLD, 12mth TP: TL54.4), Migros (BUY, 12mth TP: TL28.1) and Sok Marketler (N/R), based on reported results and focus on cash flow and operating metrics. To ensure compatibility, we use the 12M trailing figures as of the latest reported 9M19 results, adjust Net Debt and EBITDA to standardize definitions against variations in accounting. We also remove the IFRS 16 impact. We present our findings first in terms of market perception as captured by the EV/Opg Cash Flow, EV/EBITDA and EV/FCF multiples. We later explore where the companies differ from one another on various operational metrics.
Provider
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
Berna Kurbay
Other Reports from BGC Partners
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.