BGC Partners: KORDS, BRISA: Highlights from Sabanci Holding Industrial Day - neutral…
Kordsa reiterated its 2019 guidance: The company expects 30-40% rise in TL revenues and 20-25% rise in TL EBITDA. In US$ terms, revenue increase is guided at 10-15%, while EBITDA increase is expected at 2-5%. Before 3Q19 results, the guidance was 30-40% rise in TL revenues (10-15% in US$), 30-40% increase in TL EBITDA (10-15% in US$); but the weakness in global automotive sector and accordingly tire sector (due to declining demand, the company had to adjust prices as expected) had some negative impact on the margins starting from 3Q19, together with strengthening TL against hard currencies. On the other hand, Kordsa had included the Axiom’s impact (acquired on 24 July 2019) on the guidance figures after 3Q19.Brisa Bridgestone Sabanci Lastik Sanayi ve Ticaret is engaged in the manufacture and sale of vehicle tires for domestic and foreign brands.
Kordsa Sabanci Dupont Endustriyel lplik ve Kord Bezi Sanayi ve Ticaret is engaged in the manufacture and trade of tyre cord fabric used as raw material for tyres, conveyor belt fabrics, chafer fabrics and other industrial fabrics used in industrial textiles industry. Co.'s predominant focus of operations is on products manufactured from nylon and polyester yarn, cord fabric and single end cord production. Co. serves the tire reinforcement and mechanical rubber markets with its wide product range. Co. serves its customers through operations in 10 facilities in nine countries spread over five continents.
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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