BGC Partners: CCOLA 2Q19 Earnings Review: Better
Coca-Cola Icecek (CCI) posted a net profit of TL411mn (+122% YoY)) in 2Q19, better than market consensus of TL343mn and our expectation of TL323mn. EBITDA came in at TL887mn (+40% YoY) in 2Q19, also better than consensus (TL749mn) and our expectation (TL725mn). Main deviations from our expectations lower than expected operating expenses in both Turkey and international operations, while gross profit figure was broadly in line with our expectationsCoca-Cola Icecek is a bottler and distributor of alcohol-free beverages in Turkey, Pakistan, Central Asia and the Middle East. Co. focuses on the production, sales and distribution of sparkling and still beverages with The Coca-Cola Company (TCCC) trademarks. Co. has rights to produce, sell and distribute TCCC branded beverages including Coca-Cola, Coca-Cola Zero, Coca-Cola Light, Fanta, Sprite, Cappy, Sen Sun, Powerade and Fuse Tea in TCCC authorized packages throughout Turkey. Co. also has the right to produce, sell and distribute Burn and Gladiator branded energy drinks throughout Turkey, as well as bottling and distribution rights in Turkey for Schweppes branded beverages.
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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