Arçelik announced its financial reports for the second quarter of 2023 to the Public Disclosure Platform (KAP). The company’s second quarter performance was below expectations.
Net profit for the period was announced as TL 492 million, below the expected TL 780 million. However, net sales came in at TL 46.95 billion, in line with expectations. This strong increase in sales represented a 45.3 percent increase over the same quarter of the previous year. EBITDA was announced as TL 5,047 billion in the second quarter, exceeding the market expectations. The company’s revenues increased by 45 percent year-on-year due to the strong unit growth in Turkey, price increases, the depreciation of TL and the contribution of inorganic income. Organically, annual revenue growth was 38 percent. The share of total sales in Turkey in total revenues rose to 39 percent.
Balance sheet arrived, expectations revised!
After the publication of the company’s balance sheet, target price revisions began to come from institutions. In the reports published by Oyak Investment and Vakıf Investment for ARCLK, the target prices were increased.
In the report it published, Oyak Investment revised the target price of 129.2 TL for ARCLK to 171.8 TL, while maintaining its recommendation as “income in line with the index”.
The same view prevailed on the Vakıf Yatırım front. In the published report, the previously determined target price of 138.5 TL for the company was revised and increased to 175.65 TL. The recommendation for the stock was retained as “hold”.
The current price of Arçelik is 152.8 TL. According to the current price, Vakıf Yatırım’s target price expectation points to a 15% return, while the target price specified by Oyak Yatırım predicts a 12.5 percent increase.
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.