Mavi Revises Its Growth Targets Upward!

Mavi announced its financial statements for the second quarter of 2023 yesterday evening and won the appreciation of investors with these statements. The visible increase in the company’s net profit was also positively received by Borsa Istanbul. The company’s shares are traded at 111 TL on Borsa Istanbul, with an increase of up to 2 percent as of 10:30. Additionally, the company’s Price/Earnings ratio stands at 11.61. However, at the same time, Borsa Istanbul is traded with only a 1 percent premium.

Mavi also revised its future earnings and growth targets upwards. The 2023 growth target, which was previously announced as 75 percent, was increased to over 80 percent. This indicates that the company’s future growth potential is evaluated positively by investors.

In addition, according to Mavi’s statement to the Public Disclosure Platform (KAP), it was stated that the net opening of 5 new stores this year increased to 8.

In the information announced by the company, the estimates for EBITDA margin were also revised. The margin was increased from 18 percent ± 0.5 percent to 19 percent ± 0.5 percent, excluding TFRS16, and from 22 percent ± 0.5 percent, including TFRS16, to 22.5 percent ± 0.5 percent. This shows that the company aims to increase its operational efficiency.

Finally, no changes were made to the company’s net debt/EBITDA ratio and capital expenditure targets. The company maintains its goals of maintaining its net cash position and allocating 3 percent of consolidated revenue to capital expenditures.

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