BGC Partners: ERDEMIR 1H19 Earnings: Good operational margins, strong net income as expected
Erdemir reported TL1,308mn net income in 2Q19 (down by 13.6%, y/y), slightly better than consensus estimate of TL1,199mn (BGC: TL1,304mn). The financial income is strong as expected given the currency difference at 1Q19-end and the dividend distribution date of 8 May.Eregli Demir Ve Celik Fabrikalari is engaged in the production of iron and steel rolled products, alloyed and non-alloyed iron, steel and pig iron castings, cast and pressed products, coke and their by-products.
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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