BGC Partners: Brisa <BRISA TI> reported net profit of TL57.6mn in 3Q19 (3Q18: TL51.8mn, consensus: TL54mn; BGC: TL55mn), in line...
Brisa reported net profit of TL57.6mn in 3Q19 (3Q18: TL51.8mn, consensus: TL54mn; BGC: TL55mn), in line... Brisa produced 8.65mn tires in 9M19 at 86% CUR, up by 2% vs. 8.48mn in 9M18 at 95% CUR (recall that the capacity increased due to the Aksaray plant). In the seasonally stronger 3Q (also winter tire sales takes place), the company sold 3.41mn tires in 3Q19 (domestic: 1.47mn, int’l: 1.95mn), up by 10.5% y/y (domestic: -6.3%, exports: +27.6%)), in line with our 3.4mn estimate (2Q19: 2.9mn, 1Q19: 2.9mn).Brisa Bridgestone Sabanci Lastik Sanayi ve Ticaret is engaged in the manufacture and sale of vehicle tires for domestic and foreign brands.
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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