BGC Partners: TRKCM 4Q18 Earnings Review – BETTER
TRKCM 4Q18 - BETTER: TL178m NI beat the mkt cons by 19% while EBITDA of TL343m was in-line. Higher income from subsidiary in Egypt was the reason for the beat. Despite margin dilution impact of India operations, we see 3.7pps and 3.1pps YoY and QoQ improvement in EBITDA margin, respectively, thanks to strong performance of Turkey auto glass business, improving capacity utilization in Romania, positive currency impact and opex control in European operations. Expect positive reaction to the results today.Trakya Cam Sanayii is a float glass manufacturing company. Co. produces and sells basic flat glass, patterned glass, mirror, automotive glass, tempered glass, laminated glass, coated glass, processed glass and glassware. Co. is a glass supplier for the construction, automotive, energy and home appliance industries. As of Dec 31 2014, Co. had two business segments: the basic glass category contains flat glass, coated, laminated, mirror and project glass; and the other glass category contains automotive glass, energy glass, white goods glass and glassware category of the foreign joint ventures.
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.