reports
HEKTS Visit Note December 2021
Main takeaways from meeting with Hektas • We visited Hektas (HEKTS) in its new plant at Orhangazi, and discussed the Company’s existing operations and investments. • A brief info… Hektas started its activities in the field of plant protection products and recently strengthened its strategic position by diversifying and growing its business lines in the fields such as plant nutrition, seed, animal health and pet food. While OYAK has a 58.82% share in HEKTS, 41.18% is being publicly traded. •...
- Ogeday Gurbuz
Hektas (HEKTS TI) - Volume growth continues: Maintain Buy
Hektas’ 2Q19 net profit was slightly below our estimate. Although EBITDA was in-line with our estimates, higher than expected financial expenses caused the bottom-line miss. Revenue was broadly in-line with our estimates. The agricultural chemicals segment, which made up c80% of Hektas’ revenue in 2Q19 continued to grow strongly as y-y sales volume accelerated in 2Q19. Meanwhile the fertilizer segment sales volumes grew 231% y-y - benefitting from a low base as it became operational only last y...
- Ogeday Gurbuz
Hektas (HEKTS TI) - The second leg of growth: Initiating at Buy
Hektas is Turkey’s largest agricultural chemical producer and an important fertilizer maker. After new management took over in 2016, Hektas has aggressively increased its market share in agricultural chemicals and expanded into other markets such as fertilizers, animal health and seed breeding. This led to average net profit growth of 68% over FY16-1FY18 compared to only 7.6% for the three years prior to FY16. We expect strong growth to continue for Hektas driven by capacity expansion for pest...
Ford Equity International Rating and Forecast Report
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...
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