Earnings Report /
Turkey

Tekfen Holding AS: Weaker than expected results

  • Tekfen reported TL317mn net income in 2Q21, 8% lower than our estimate of TL346mn and 19% lower than cons. of TL392mn

  • The company posted TL310mn EBITDA in 2Q21, 22% lower than our estimate of TL397mn (Ras. Cons: TL423mn).

  • The company reported 8.5% EBITDA margin in 2Q21, lower than our estimate of 10.3%.

Zeynep Erman
Zeynep Erman

Equity Research Analyst

ATA Invest
16 August 2021
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