Although TL/USD level tested new highs yesterday night, TL started the day with a 2% gain. ARCLK TI / KCHOL TI > announced that the company decided to sell Wat Motor Sanayi to Koç Investments B.V. for EUR25.9mn. Wat Motor Sanayi operates in the field...
Turkish sovereign bonds saw a sell-off in the past two weeks as the depreciation of the Turkish lira accelerated. The Central Bank of Turkey (CBRT) did not respond in a conventional manner by hiking rates. All these steps are likely to reduce the sup...
Kiti Pantskhava @ Tellimer Research 11 August 2020
Koç Holding reported Q1 20 results, demonstrating persistently strong liquidity despite debt repayment and the acquisition of an additional stake in Yapi Kredi. Strong liquidity at holdco and subsidiary levels. After the reporting date, Koç Holdings ...
Conservative cash management at the holdco level will support Koç Holding in 2020 when dividends from subsidiaries are expected to decline on the back of Tupras’s decision not to reward the shareholders for 2019. However, we expect Koç Holding to ret...
Kiti Pantskhava @ Tellimer Research 14 February 2020
Koç maintained high liquidity at the holding company (holdco) level. Weak financial results from Tupras, the holdco’s key dividend-paying subsidiary since 2016, puts the company’s payable in 2020 at risk. After Koç repays the US$750mn notes, the cove...
Kiti Pantskhava @ Tellimer Research 12 November 2019
We initiate coverage with a Hold. Sizable net cash position on the holding company (holdco) level, sustainable dividends from subsidiaries and mostly moderate leverage at consolidated, subsidiary and JV levels, make Koç Holding an attractive investme...
Kiti Pantskhava @ Tellimer Research 2 September 2019
KOC Holding A.S. is a holding company. The Company has interests in manufacturers of automobiles, household appliances, consumer electronics, textiles, construction materials and other goods, food processers, liquefied petroleum gas distributors, insurance, factoring, lease financing, and securities brokerage companies, and banks.
Associated topics
Industrials
Turkey
Capital Goods
MENA
Tupras
Kiti Pantskhava
Fixed Income - Corporate
Fixed Income
Asia
Koç Holding A.Ş.
2020
Koç Holding
2019
Arcelik