BGC Partners: Datagate <DGATE TI> posted TL6.2mn net income in 4Q19 (3Q19: TL4.8mn, 4Q18: TL6.8mn), in line but weak set of results (BGC: TL6.8mn)...
Despite the new region from Turk Telekom as of 1 April 2019, Datagate posted a weak results despite positive seasonality in 4Q19 mainly to 1) SCT increase on smartphone purchases on 1st of May 2019 from 25% to 40-50% (which is affecting especially high-priced cell phones such as iPhone series), 2) declined sales volume of Huawei phones after US-China tension, and 3) price increases. Turk Telekom continues to apply strict rules in the contracted phone sales (with more careful rules and parameters) which takes its toll on Datagate's revenues and margins.Datagate Bilgisayar Malzemeleri Ticaret AS. Datagate Bilgisayar Malzemeleri Ticaret AS is a Turkey-based computer and computer peripherals distributor. The Company distributes, markets and offers logistics and after-sale services for more than 1,000 computers and computer accessories of international brands, such as Seagate, Intel, Acer, Fujitsu, Belkin, Sapphire, Vestel, genius, Samsung and Transcend, among others. The Company's product portfolio includes microprocessors, hard discs, memory units, optical units, motherboards, tapes, video accelerator cards, monitors and various types of hardware supporting software. The Company distributes its products to wholesale companies and retailers. As of December 31, 2011, its main shareholder was Indeks Bilg. A.S. (59.24%).
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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