Turkey

Migros: Very impressive results; new era for Migros

  • Migros realised TL441mn net income in 2Q22, better than our estimate of TL213mn and consensus estimate of TL190mn.

  • Higher operational efficiency as well as lower financial expenses led to strong 2Q22 results.

  • İn addition to strong 2Q22 results,  upward revision to 2022 guidance looks encouraging

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Cemal Demirtas @ ATA Invest
August 18th, 2022
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Turkey

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ATA Holding is a third-generation family-owned conglomerate, primarily active in financial services, food & retail, technology and rea estate. ATA Group consists of more than 20 companies, with a total consolidated sales figure exceeding US$2.0bn.

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