Controlmatik Smart received a job worth 84.8 million TL from GES

One of the most popular companies of the last year, Kontrolmatik (KONTR) has added a new one to its tenders or business relations. In the statement made by the company, it was stated that it received a turnkey contract of 84 million 835 thousand TL from Smart Güneş Enerjisi Santralleri Enerji Üretimi A.Ş. In the company’s PDP statement, “Our company was established as Smart GES Enerji Üretim A.Ş. on 23.05.2023. and 100 MWe BOR-1 Solar Power Plant, including the scope of engineering, material supply, installation, construction, testing and commissioning of the 154 kV Transformer Center, on a turnkey basis on a unit price basis 84,835,051.72 Turkish Liras excluding VAT. He signed a contract in return.” it was said.

KONTR share price has dropped to half price since peak

As it will be remembered, KONTR stocks were at the level of 30 TL in August of 2022, and approached to 230 TL in the rise that they started, but decreased to 123 TL with the subsequent sales wave. This year, the shares were seriously affected by the downtrend in the stock market and fell to 112.30 TL as of the last closing.

Controlmatik Teknoloji Chairman of the Board Sami Aslanhan had recently announced in a television program he attended that the Pomega Energy Storage investment facility in Ankara Polatlı would start production in July.

Aslanhan announced that the first phase of Pomega Turkey will be 500 megawatts, the first phase will be completed at the end of the year, and the second phase will have a production capacity of 1.5 gigawatts. Stating that they allocate more than three percent of their turnover to R&D expenditures, Sami Aslanhan stated that they will reach an engineering staff of 1,000 by the end of the year.

Controlmatik has reached a profit figure of 133 million 996 thousand TL in the first quarter of 2023. The profit in the first quarter of 2022 was 43.2 million TL.

CONTR share review

Participating in the analyst presentation made on March 29, 2023, Integral Investment summarized Kontrolmatik’s 2023 expectations in the post-meeting notes it prepared:

In 2023, the company plans to invest 5 billion TL in revenue, 1.25 billion TL in EBITDA, 3% of its sales revenues in R&D, and up to 6% of its sales revenues excluding R&D.

The company stated that they have close to 2 billion TL of work at the contract stage, while the ongoing contracts are 3.7 billion TL.

Since the growth of the company will continue with project financing, the loan structure is planned to be long-term.

In the same report, the company’s numerical expectations were conveyed as follows:

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