BGC Partners: ULKER 2Q19 Earnings: Better operational performance, in line net profit
Thanks to strong demand momentum, Ramadan impact (both in Turkey and in international operations), positive currency impact from international operations, cost management, and positive impact from soaring McVities sales (premium price products), 2Q19 was a robust quarter for Ulker Biskuvi as expected. Supported also by tight opex management and favorable mix, the company posted a strong (all-time high) EBITDA margin at 17.5% in 2Q19 vs. 17.0% in 1Q19 and 15.3% in 2Q18.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.
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.