BRISA 2Q18 - IN LINE
Brisa reported net earnings of TL11.9mn in 2Q18 (2Q17: TL1.9mn, 1Q18: TL11.4mn, consensus: TL13.3mn; BGC: TL12.0mn). Brisa reported TL135.1mn EBITDA in 2Q18, above consensus estimate of TL115mn (BGC: TL109mn). Soared depreciation expenses and higher financial expenses took their tool on the bottom line, as expected, due to the official initiation of Aksaray facility at the beginning of 2018. Expecting market reaction to be neutral, but strong operational profitability is positive, in our view. HOLD maintained.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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