Page 19 - TURKRptAug20
P. 19
The headline PMI rose back above the 50.0 no-change mark for the first time since February during June, posting 53.9 up from 40.9 in May.
Output, new orders and employment were all higher in June, but further marked increases in both input costs and output prices were registered.
4.3.2 Corporate profits dynamics
Major Borsa Istanbul Companies Q2 Financials (As of July 29)
TRYmn
Market Value
Sales (H1)
y/y
EBITDA
y/y
Profit
y/y
P/E
P/B
Garanti BBVA
29,820
11,003
20%
-
-
1,600
-16%
5.18
0.51
Akbank
27,612
9,694
37%
-
-
1,586
24%
4.91
0.48
Yapi Kredi Bank
18,415
7,848
9%
-
-
1,331
19%
4.98
0.42
Ford Otosan
28,968
15,094
-18%
630
-20%
280
-32%
14.63
6.98
Tofas
12,620
7,499
-19%
542
-15%
288
-29%
9.12
3.55
Arcelik
14,974
15,600
2%
795
-13%
407
86%
13.10
1.40
Sisecam
13,140
8,834
3%
605
-38%
85
-82%
8.74
0.86
Soda
6,600
2,242
10%
310
10%
327
-13%
5.60
1.02
TAV Airports
5,980
1,012
-53%
-179
-
-694
-
6.58
0.73
Largest Turkish refiner Tupras has ranked first on Fortune magazine’s top 500 Turkish companies list, with sales at Turkish lira (TRY) 89.6bn ($13bn).
The company’s revenues increased 1.2% last year from 2018.
The Turkish Energy Stock Market (EPIAS) ranked second with TRY87.9bn in net sales, followed by Turkish Airlines, the revenues of which jumped nearly 20% on an annual basis to stand at TRY75.1bn in 2019.
The combined net sales of the Top 500 companies rose around 15% in 2019 from the previous year to TRY1.8trn, while their net income increased by 44.5% to TRY78.1bn.
In local currency terms, the companies’ export revenues rose by 15% to TRY516bn, but in US dollar terms, the value of their shipments to foreign markets dropped nearly 3% to $91bn, given the marked depreciation in the lira.
Turkish Airlines generated the highest export revenues, followed by automotive company Ford’s Turkish unit, major appliances producer Arcelik,
19 TURKEY Country Report August 2020 www.intellinews.com
