Earnings Report /
Turkey

Turkiye Sise ve Cam Fabrikalari AS: 3Q21 review – Better-than-expected operating results and bottom-line

  • SISE posted TL1,353mn net income in 3Q21 which was 17% above our estimate and 9% above consensus estimate.

  • The company’s EBITDA surged by 57% y/y to TL1,986mn in 3Q21

  • Based on 22E estimates, the company currently trades at 3.7x EV/EBITDA and 5.9x P/E multiple.

Aytunc Uz
Aytunc Uz

Equity Research Analyst

ATA Invest
28 October 2021
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