1Q net income of TRY61m (+69% q-q, +104% y-y) beat our estimate (TRY30m) supported by dividends from Silopi Electric (TRY14m), a GSD bank property sale gain (TRY27m) and FX gains (TRY22m). Investment income rose to TRY66m vs TRY22m in 1Q17. Overall EBITDA fell 41% y-y to TRY15m on the back of a weak banking contribution. By segment, EBITDA fell 78% y-y to TRY4m for banking, rose 16% y-y to TRY14m for maritime and rose 47% y-y to TRY4m for factoring. GSD Holding trades at a 2018E EV/EBITDA of 6...
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.