TTKOM Financials, Two Tenders from KONTR, Three Stocks Under Watch: Latest Updates from BIST Companies
You can find our summary of the latest company news prepared based on the announcements made by companies listed on Borsa Istanbul below.
Turk Telekom has revised its EBITDA margin forecast upwards
Turk Telekom TTKOM announced its financial and operational results for the third quarter of 2024. The company updated its EBITDA margin forecast from a range of 36-38% to 38%. The company's consolidated revenues reached 40.4 billion TL in the third quarter, marking a 15.9% annual increase, while the revenue for the first nine months of the year was 109.2 billion TL, up 8.7%. Excluding the effects of UFRYK 12 accounting, the revenue growth in the third quarter was 15.8% and 10.6% over nine months.
EBITDA rose by 30.8% year-on-year in the third quarter, reaching 16.5 billion TL with a margin of 40.8%, while for the first nine months, it increased by 25.4% to 42.5 billion TL with a margin of 38.9%. The net profit for the third quarter was reported at 1.1 billion TL, while it stood at 3.9 billion TL over nine months. The Net Debt/EBITDA ratio declined to 0.96x, indicating a strengthened financial structure.
Kontrolmatik wins two major tenders in Iraq
Kontrolmatik Technology KONTR has won two tenders from the Ministry of Electricity of Iraq. The company signed a contract worth 59,350,000 USD for rehabilitation works related to projects with tender numbers 33/2024 and 47/2024. The high-voltage infrastructure to be renewed within the scope of these two projects is estimated to meet the electricity demand of approximately 2,500,000 people.
These projects will significantly contribute to the reliability of the country’s energy infrastructure. With the signing of the contract, the start of works is anticipated, and the completion of the projects will lead to a more secure and uninterrupted energy supply.
Penta Technology reports strong financial performance
Penta Technology PENTA increased its consolidated revenue by 40% in the first nine months of 2024 compared to the same period last year, reaching 16.8 billion TL. The company’s gross profit reached 1.2 billion TL, with EBITDA rising by 11% to 681 million TL. The EBITDA margin was recorded at 4%. Penta Technology also boosted its pre-tax profit to 243 million TL.
Aksa Energy sees EBITDA increase
Aksa Energy AKSEN achieved an EBITDA of 5.3 billion TL in the first nine months of 2024. The company raised its EBITDA margin by 3 points to 25%. Operating in seven countries, Aksa Energy stands out for its strong balance sheet management and cost control. Successfully keeping operating expense growth below inflation, the company recorded a net profit of 2.3 billion TL during this period.
Aksa Energy continues its investments focusing on sustainable high growth objectives under its 2030 Global Strategy, strengthening its position in the energy sector as it continues to grow both domestically and internationally.
Polisan Holding completes modernization of its 8th tank farm
Polisan Holding's POLHO subsidiary, Poliport Kimya, has completed the renewal and modernization investment of its 8th tank farm. With the commissioning of the new tanks under the project that commenced in November 2023, commercial usable capacity increased by 5,850 cubic meters. This investment aims to enhance capacity and service quality by responding to the needs of the relevant sector.
This investment made by Poliport Kimya stands out as one of the strategic moves to increase the company's operational efficiency and customer satisfaction.
Kerevitaş maintains leadership in the frozen food and oil sector
Kerevitaş KERVT, the market leader in Turkey’s frozen food and oil sector, announced a consolidated revenue of 17.3 billion TL for the first nine months of 2024. Its gross profit increased by 295 million TL compared to the same period last year, reaching 3.6 billion TL. The consolidated gross profit margin rose by 3.7 points to 21.1%, while the EBITDA margin increased by 1.3 points to 9.7%.
Kerevitaş continues to maintain its strong position both domestically and internationally with an export figure of 1.6 billion TL, focusing on contributing to the country’s economy through growth.
EKOS Technology signs a new sales contract
EKOS Technology and Electric A.Ş. EKOS signed a significant sales contract as part of the Balıkesir OSB Phase 1 Expansion Project. An agreement was reached for the supply of "Gas Insulated Medium Voltage Metal Enclosed Modular Cells" and "Monoblock Concrete Kiosk" worth 950,000 USD with a company based in Turkey.
The contract amount was calculated to be 32,474,895 TL at the current exchange rate. This collaboration will contribute to the company's effectiveness in the local market and strengthen its position in the sector.
Petkim narrows previous losses in the nine-month period
Petkim PETKM reported a consolidated net loss of 127,494,000 TL for the nine-month period of 2024. The company's loss in the same period last year was recorded at 9,541,835,000 TL. This reduction in losses indicates that the company is taking steps towards financial sustainability.
This development raises optimistic expectations for Petkim to exhibit a more balanced financial performance in the coming periods.
VBTS restricts margin trading on three stocks
Certain shares traded on Borsa Istanbul have been restricted from margin trading under the decision of the Capital Markets Board, as part of the Volatility-Based Precautionary System (VBTS). The stocks ATAGY, BAKAB, and REEDR will not be subject to margin trading from the transactions dated November 7, 2024, until December 6, 2024.