BGC Partners: TATGD reported a net income of TL13.7mn in 1Q19 - BETTER
Tat Gida reported a net income of TL13.7mn in 1Q19 (BGC: TL7.7mn, consensus: N.A.), positive... At last, we see some improvement/normalization in Tat Gida’s operational performance thanks to the reflected raw material price hikes onto the product prices, after very weak 4Q18 and 2018 yearly performances. Revenues of TL278.6mn in 1Q19, up by a small 5.6% y/y were below our TL303.0mn estimate due mainly to difficult market conditions (soaring prices, decreasing purchasing power of consumers) and stiff competition mainly coming from private label products especially on the dairy side.Tat Gida Sanayi is engaged in the tomato paste, tomato puree, peeled tomato, diced tomato, ketchup, canned vegetables, frozen foods, pickled cornichons, roasted pepper and empty tin cans and covers which are required for production, sector and canned food industry in Turkey and Europe.
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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