Erdemir: Slightly better than expected results

  • Erdemir realised a net income of TL5,626mn, higher than our estimate of TL5,502mn in 1Q22

  • Considering strong 1Q22 results and current price-cost spread trends, we now see an upside risk to our 2022 estimates

  • We continue to keep EREGL in our TOP PICKS list

April 28th, 2022
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