BGC Partners: KORDS - IN LINE: Kordsa <KORDS TI> reported a net income of TL71.1mn in 4Q19, in line with the consensus estimate of TL68mn…
The weakness in global automotive sector and accordingly tire sector had some negative impact on the margins starting from 3Q19 (there was no visible impact in 1H19). In 4Q19, weaker TL had some support on margins, but profitability declined slightly on a q/q basis. Kordsa posted TL1,266mn revenues in 4Q19 (+8.1% y/y) vsKordsa 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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