TTRAK 2Q18 - BETTER
Reported 2Q18 net profit of TL81mn (-2% y/y), much higher than expectations. The actual net profit was 28% higher than our estimate and 44% above consensus. The main reason for the deviation between our estimate and the actual net profit is the 10% higher revenue than we projected on the back of higher than expected average selling prices, which lifted the EBITDA margin to a higher than expected 13.4% in 2Q18 (up from 11.1% in 2Q17 and 9.7% in 1Q18).Turk Traktor Ve Ziraat Makineleri is engaged in the manufacturing of agricultural machinery, such as tractors, harvesting machinery and earth moving machinery, and its allied parts, including gearboxes, transmission boxes, engine blocks, cylinder heads and hydraulic lifters. Co. sells New Holland and Case IH branded vehicles and equipments. Co. exports its products to over 50 countries.
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.