Financial Results from BIST Companies: Stocks Under Caution and Latest Developments
You can check out our current company news summary, prepared based on the notifications made by companies traded on Borsa Istanbul, in the continuation of our content.
Borusan Birleşik Boru updates its expectations Borusan Birleşik Boru (BRSAN) has updated its sales volume and revenue expectations for 2024. The company indicated that its sales volume will be between 1.00-1.12 million tons and its revenue will be between 1.6-1.8 billion dollars. Borusan Birleşik Boru, which achieved a 15% increase in revenue in the first nine months, attributed this growth to its geographical diversity and sectoral balance. Activities in the US market contributed 70% to the company's revenue in the first nine months of 2024. Revenue from international markets made up 81% of the total revenue. The sectoral diversity and efficiency-increasing measures of Borusan Birleşik Boru helped maintain strong performance despite challenging market conditions.
Çan2 Termik expects profitability increase from Venezuela operations Çan2 Termik A.Ş. (CANTE) announced that its operations in Venezuela are independent of Turkey's inflation accounting practices. The company plans to achieve a net profit of 9.7 million dollars from these activities in 2025. These operations, conducted through Denarius Firm, which holds an OFAC license, aim to enhance the company’s operational efficiency internationally. The company aims to strengthen its presence in Venezuela by continuing contract negotiations with firms such as Chevron and Repsol. In line with this strategy, Çan2 Termik's foreign operations are expected to contribute to profitability without being affected by regulations implemented in Turkey.
DCT Trading increases sales by 91% Dct Trading Dış Ticaret A.Ş. (DCTTR) announced a 91% increase in sales in the third quarter of 2024 compared to the same period last year. The company's financial debt decreased from 614 million TL to 182 million TL, while cash and cash equivalents stood at 338 million TL. This financial improvement reflects the company's robust financial structure. Operating in the cotton trading sector, DCT Trading achieved high sales figures in the third quarter, during a period of low supply. However, due to the impact of inflation accounting, the gross profit margin remained negative. It is expected that directing the income from the new IPO towards investments will further strengthen the company's financial structure.
Kocaer Çelik invests in high value-added products Kocaer Çelik (KCAER) has succeeded in increasing the share of value-added products in its sales throughout 2024. The company achieved a net revenue of 13.1 billion TL by exporting 74% of its total sales in the first nine months of the year. This success is supported by product diversity and flexible production capabilities. With revisions and new product investments in the factories, the share of value-added products in total sales increased from 39% to 40.4%. Despite a decline in sales revenues due to challenges in the global steel market and currency fluctuations, investments in high value-added products have boosted the company's gross profit margin. It is also noted that energy investments are ongoing.
Gedik Yatırım revises its 2024 expectations Gedik Yatırım (GEDIK) announced that it has re-evaluated its expectations for 2024. The company expects the cash dividend ratio, which was 80.72% in 2023, to remain at similar levels in 2024. This situation indicates that the firm will maintain its strong financial structure and support for dividends to investors. The revised expectations will be prepared in accordance with the CMB regulations and submitted for the General Assembly's approval after the year-end financial statements are finalized. Thus, Gedik Yatırım will update its strategic decisions towards investors, taking into account market conditions.
Mega Metal's sales increased by 63% in the first 9 months of 2024 Mega Metal (MEGMT) reported a 63% increase in sales in the first nine months of 2024 compared to the same period last year, reaching 13.795 billion TL. Gross profitability rose by 59%, while net profit increased by 103% to 409 million TL. Effective cost management and operational efficiency played a significant role in this success. The company’s total assets increased by 32%, while liabilities rose by 31%. Shareholder equity growth was recorded at 31% during the same period. Mega Metal continues to strengthen its position in the sector with this strong performance and is focusing on future growth opportunities.
Shares subject to measures within the VBTS framework In accordance with the decision of the Capital Markets Board (CMB), shares IHLAS and IHLGM traded on Borsa Istanbul will not be subject to margin transactions between November 12, 2024, and December 11, 2024, under the Volatility-Based Precautionary System (VBTS).