BGC Partners - Ulker Biskuvi Sanayi A.S. (ULKER) BGC Partners: Highlights from UIker Biskuvi ULKER TI 4Q19 Results Conference Call, positive...

Report

BGC Partners

Erdem Hafizoglu

EUR 104.96 For Business Accounts Only

BGC Partners: Highlights from UIker Biskuvi <ULKER TI> 4Q19 Results Conference Call, positive...

The company provided no guidance yet, plans to announce a guidance figure for 2020 after 1Q20 results. The management believes that they will continue to grow and improve margins; so positive momentum is likely to remain.

06/03/2020 1 EN

Underlying

Ulker Biskuvi Sanayi A.S.

Ulker Biskuvi Sanayi is a manufacturer and marketer of biscuit, chocolate coated biscuit, wafer, cake and chocolate. Co.'s brands include Potibor, Cizi, Krispi, Haylayf, Mavi YePil, HanYmeller, Bebe BiskUvisi, Biskrem, Krim Kraker, Probis, Cokoprens, As Kraker, Bathak, Ykram, Canpare, Rondo, Altinbasak, Kat Tat, Halley, Kat Kat Tat, Cubuk Kraker, Alpella Ring, Hasat, Bolero, Saklykoy, Dore and Haylayf.

See profile

TREULKR00015 Istanbul Stock Exchange Turkey

Provider

BGC Partners

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

See profile

Analysts

Erdem Hafizoglu

Other Reports on these Companies

Wood and Company

WOOD Flash – Coverage discontinued

We discontinue our coverage of the following stocks, with immediate effect. We caution against using the forecasts, ratings and price target guidance issued previously on these stocks: AD Plastik Arena Hospitality Group Bittnet Ciech Conpet Dogus Otomotiv Ekspress Grupp Fintel Energija Immofinanz Kcell Kernel KGHM Komercijalna Banka NLB Banka Petrol Group S Immo Sava Re Shelly Group (formerly Allterco) STS Group Turk Telekom Turkcell Ulker Zagreb Stock Exchange

December 29, 2023 December 29, 2023 1 EN

Wood and Company

The Rear-View Mirror – EME markets: Greek stocks in the lead

EME Equity Market – November 2023 Market performance – Greeks in the lead, in a month with only green across the region. The MSCI EM Europe Index added 5.6% mom in EUR terms and 8.7% mom in USD in November. The Greek ASE Index was the top performer in our region (+6.9% mom), followed by the Polish WIG20 (+5.5% mom) and the Hungarian BUX (+4.0% mom). The Czech PX Index saw the most muted performance, advancing 2.8% mom.

December 4, 2023 December 4, 2023 1 EN

Ünlü&Co

Model Portfolio Update

Including Ulker to our model portfolio: We are including Ulker to our model portfolio. We've factored in the better-than-expected third-quarter results, along with a significant improvement in working capital and financial leverage. Consequently, we've raised our target price per share to TL145 and maintain our BUY rating. Ulker has impressively reduced net debt by 12% q/q in USD terms, effectively bringing down the net debt/EBITDA ratio to below 2x. This marks the lowest level since the acquisition of Onem Gida in 2021. Considering Ulker’s 60% value erosion in its 10-year history, when evalu...

EUR 58.31

November 17, 2023 November 17, 2023 1 EN

BGC Partners: TURKEY - Central Government Budget continued to improve in February

Finance Ministry released February Central Government budget figures and the data showed further improvement in budget balances, as already suggested by the Treasury cash budget figures.

EUR 104.96

March 16, 2020 March 16, 2020 1 EN

Cagdas Dogan

Cagdas Dogan

BGC Partners: TURKEY - CBT Expectation Survey: No major change in inflation forecasts and a 50bps rate cut expectation from the CBT next week...

OUR TAKE: We observe no major change in inflation expectations, as the positive surprise in February reading seems to be offset by increased depreciation pressure on TL, while 2020 GDP growth forecast has been cut for the first time since July 2019. Meanwhile, there seems to be a 50bps rate cut expectation from the CBT in next weekâ€™s meeting, 100bps over the next three months, and 175bps over the next twelve months. We currently plug in a 50bps rate cut in our forecasts in next weekâ€™s meeting, followed by a 25bps in the April meeting. (CBT, BGC Partners)

EUR 104.96

March 13, 2020 March 13, 2020 2 EN

Cagdas Dogan

Cagdas Dogan

BGC Partners: TURKEY - Retail sales volume maintained a strong trend in January

According to Turkstat, retail sales volume registered a 9.6% y/y expansion in January 2020 in unadjusted terms; while the calendar-adjusted figure also increased by 9.6% y/y in January, which is a quite strong figure, albeit indicating a mild slow down compared to the 11.9% increase recorded in December 2019.

EUR 104.96

March 13, 2020 March 13, 2020 2 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

BGC Partners: Highlights from UIker Biskuvi <ULKER TI> 4Q19 Results Conference Call, positive...

WOOD Flash – Coverage discontinued

The Rear-View Mirror – EME markets: Greek stocks in the lead

Model Portfolio Update

BGC Partners: TURKEY - Central Government Budget continued to improve in February

BGC Partners: TURKEY - CBT Expectation Survey: No major change in inflation forecasts and a 50bps rate cut expectation from the CBT next week...

BGC Partners: TURKEY - Retail sales volume maintained a strong trend in January

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe