Page 29 - TURKRptSep20

Yapi Kredi Bank
17,485
7,848
9%
-
-
2,461
4%
4.73
0.40
Arcelik
14,596
15,600
2%
1,451
-9%
662
49%
12.77
1.36
Turkcell
32,516
13,167
17%
5,852
19%
1,724
2%
9.91
1.66
Türk Telekom
24,395
13,272
19%
6,122
16%
1,641
120%
7.39
2.28
Erdemir
29,960
13,783
-6%
2,342
-33%
868
-62%
15.94
0.84
Isdemir
19,691
7,227
-16%
1,357
-31%
673
-54%
14.50
1.02
Garanti BBVA
28,476
11,003
20%
-
-
3,231
-11%
4.95
0.49
Isbank
21,735
11,863
29%
-
-
3,035
26%
3.25
0.34
Sisecam
13,455
8,834
3%
1,593
-12%
527
-43%
8.95
0.88
Sabanci Holding
16,140
8,951
-2%
5,280
11%
2,229
15%
3.97
0.46
Akbank
25,636
9,694
37%
-
-
2,896
8%
4.56
0.45
Enerjisa Enerji
10,193
11,105
19%
2,084
9%
708
54%
7.94
1.47
Turkish Airlines
15,373
21,507
-36%
1,813
-41%
-4,257
-
11.00
0.38
Anadolu Efes
11,546
11,584
5%
1,768
-2%
268
6%
11.13
0.86
Coca-Cola I.
11,264
6,234
4%
1,198
1%
539
32%
10.28
1.58
Petkim
7,624
5,008
-16%
547
-34%
134
-72%
16.09
1.55
Refiner Tupras (TUPRS), Turkey’s largest company by turnover, ​swung to a net loss of TRY185mn in Q2​ from a net profit of TRY870mn a year ago (See Section 9.2.1).
Erdemir, one of Turkey’s largest steelmakers, ​reported​ a net profit of $134mn for the first half of 2020, marking a more than 67% decline​ from the same period of the previous year. Its sales revenue plunged 18% on an annual basis to $2.1bn while Ebitda dropped 39% y/y to $381mn (See Section 9.2.10).
Turkey's sole integrated major petrochemical producer, Petkim, a subsidiary of the State Oil Company of the Azerbaijan Republic (Socar), reported​ a Turkish lira (TRY) 145mn ($19.7mn) second-quarter profit​.
Discount chain BIM’s second-quarter profit ​stood​ at Turkish lira (TRY) 697mn​ ($95.0mn) versus TRY37mn in Q2 2019 and the market expectation for TRY503mn, while revenues for the quarter were posted at TRY14.0bn against TRY10.2bn a year ago and the market forecast of TRY13.5bn.
Net loss of Migros, one of Turkey’s largest supermarket chains, ​widened to Turkish lira (TRY) 381mn (€44mn) in the first half​ of 2020 from TRY291mn a year ago. The retailer’s sales rose to TRY13.4bn from TRY10.7bn.
Top Turkish defence company Aselsan ​reported​ a record Turkish lira (TRY) 1.8bn (€205mn) first-half net profit​. Revenues in January-June amounted to TRY5.2bn, rising 13% on an annual basis. Markets are concerned about Aselsan's cash position. The company writes sales and profits in its balance sheet but its real revenue collection is questionable as the Turkish government is its main customer.
Tupras’ FX deficit jumped to $1.38bn, or 17% of the company’s total assets, at end-June​ from $566mn at end-March, according to Tacirler Invest’s note​ on Borsa Istanbul-listed companies’ FX positions in the Q2 financials.
However, Tupras’ deficit compared lower than the $2.38bn, or 25% of total assets, at end-2019.
Turkey’s flag carrier Turkish Airlines has no rival in terms of its net FX
29​ TURKEY Country Report​ September 2020 ​ ​www.intellinews.com