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4 articles for Ulker Biskuvi Sanayi AS
Ulker Biskuvi Sanayi AS: 2Q22 review – Weaker than expected bottomline
Realised TL649mn net loss, worse than our estimate of TL414mn net loss and consensus estimate of TL265mn net loss. We currently have “marketperform” rating for Ulker due to depressed valuation. However, there is no light at the end of the tunnel yet.
Cemal Demirtas @ ATA Invest 18 August 2022
Ulker Biskuvi Sanayi AS: Bottomline weaker than expected due to Onem Gıda acquisition impact
Realised TL2mn net income, falling short of our estimate of TL38mn and consensus estimate of TL32mn net income. EBITDA margin of 16.9% was 60bps above our estimates and 40bps above consensus. In our view, this acquisition had dilutive impact on Ulker...
Cemal Demirtas @ ATA Invest 5 November 2021
Ulker Biskuvi Sanayi AS: Weaker margins as expected but negatives are mostly priced in
Realised TL207mn net income, higher than our estimate of TL186mn but lower than consensus estimate of TL236mn net income. Deviation from our estimates could be attributed mostly to higher than expected other income of TL160mn for the fair value incre...
Cemal Demirtas @ ATA Invest 16 August 2021
Ulker Biskuvi Sanayi AS: Slightly better than expected performance
Topline and EBITDA were above our estimates by 3.7% and 5%, respectively. Supported by 20.7% y/y increase in prices, domestic revenues increased by 26.9% y/y to TL1,560mn in 4Q20. EBITDA of TL440mn was 5.0% above both our estimate and consensus est. ...
Cemal Demirtas @ ATA Invest 11 March 2021
Details
Turkey
MENA
Consumer Durables & Apparel
About
Ulker Biskuvi Sanayi AS produces biscuits, cakes, wafers, chocolate bars, and chocolate covered biscuits. The Company sells its products throughout Turkey and exports to Europe, North America, Africa, Asia and the Middle East.
