Matrix Applies for Crypto Platform, EKGYO Secures Additional Funding, LINK Takes Merger Steps: Latest Updates from BIST Companies
You can find our summary of current company news prepared based on the notifications made by companies listed on Borsa Istanbul below.
Matriks Financial Technologies' new initiative: Application to CMB for Rootech Rootech, a 100% subsidiary of Matriks Financial Technologies (MTRKS), has applied to the Capital Markets Board (CMB) to operate as a cryptocurrency trading platform. It was previously announced that Rootech is included in CMB's "List of Active Participants." This strategic move reportedly also includes amendments to the articles of association to strengthen Rootech’s position in the industry.
Koton's quarterly reports: 9.6% real growth in domestic sales In the third quarter of 2024, Koton Retail (KOTON) achieved a 9.6% real growth in domestic sales. Despite declining consumer demand, this result is a consequence of Koton's strategy to offer quality products at competitive prices. While international sales, which account for one-third of Koton's consolidated sales, were impacted by the strong Turkish lira, there was a growth of 88% and 121% in international e-commerce and wholesale sales, respectively. Consolidated sales increased by 3.7% in the third quarter, with the company’s gross profit margin exceeding 60%.
Turkcell revenue growth: 6.9% increase in Q3 2024 Turkcell's (TCELL) revenues for Q3 2024 showed a year-on-year increase of 6.9%. Key drivers of this growth included an increase in the number of postpaid subscribers, the offering of higher packages to customers, and strong performance in the Techfin segment. Turkcell Turkey's revenues rose by 7.1%, while individual segment revenues increased by 10.8%. However, tight economic conditions resulted in a 1.4% decline in corporate segment revenues.
Doğan Holding’s financial results: 24% real revenue increase in 9 months In the first 9 months of 2024, Doğan Holding (DOHOL) achieved a consolidated revenue of 62.1 billion TRY, reflecting a 24% real increase compared to the previous year. During the same period, the holding reported 3.8 billion TRY in operating profit and 2.9 billion TRY in net profit for the period. These results indicate a strong improvement in Doğan Holding’s financial performance.
Europap Tezol's capacity increase: Production line investment completed Europap Tezol Paper (TEZOL) has completed its production line investment aimed at increasing finished product production capacity. The new line, ready for production, aims to strengthen the company’s production capacity and enhance its competitiveness in the market.
Emlak Konut GYO secures additional financing: 3 billion TRY obtained Emlak Konut GYO (EKGYO) has secured 3 billion TRY in short-term additional financing from participation banks for the financing of its investments. This financing is designed to align with the company’s cash flow and aims to support its growth objectives.
Arçelik takes steps for transformation in Italy operations Arçelik (ARCLK) has begun discussions with local authorities and employee representatives to address the long-term sustainable transformation plan for its operations in Italy. These discussions were held following the transition of Whirlpool's European operations under Arçelik's control and addressed issues related to the industry's contraction and efficiency.
Link Computer and Vitalis Technology take steps towards merger An application has been made to the Competition Authority regarding the merger of Link Computer (LINK) and Vitalis Technology. The merger aims to combine their strengths in the industry to offer a wider service network.