BGC Partners: 3Q19 Earnings: SODA (in line)
Soda Sanayi reported a net profit of TL151mn (-82% YoY) in 3Q19, in line with market consensus of TL147mn, but better than BGC estimate of TL136mn. EBITDA came in at TL237mn (-29% YoY) in 3Q19, slightly better than market consensus (TL221mn) and BGC estimate (TL223mn). Main deviation from our expectations was a higher than expected net tax income and EBITDA margin.Soda Sanayii is engaged in establishing and acquiring manufacturing facilities to manufacture light soda ash, dense soda ash, sodium bicarbonate, sodium bichromate, sodium sulphur, sodium sulfate, basic chromium sulfate (Tankrom AB, Tankrom SB, Tankrom OBM, Tankrom F24, Tankrom FS, Tankrom OB, Tankrom FO, Resintan M), chromic acid and derivatives of soda and other products derived from soda, and importing and exporting the production of these products and construction of industrial machinery.
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
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.