Latest Updates from BIST Companies
You can check our summary of the latest company news prepared based on the notifications made by companies listed on Borsa Istanbul in the continuation of our content.
Anadolu Isuzu and FNSS Defense Systems form a strategic partnership Anadolu Isuzu (ASUZU) and FNSS Defense Systems Inc. have signed a Memorandum of Understanding for a new strategic collaboration to meet defense and civilian vehicle needs. The aim of the agreement is to address the tactical requirements of military service and logistics vehicles in foreign markets. The two companies are expected to seize new opportunities abroad by combining their expertise in their respective fields.
Garanti BBVA announces 2024 first three-quarter financial results Garanti BBVA (BME:BBVA) (GARAN) has announced its financial results for the first three quarters of 2024. The bank achieved a net profit of 66 billion 950 million 363 thousand TL during this period. Its total assets grew to 2 trillion 877 billion 835 million 339 thousand TL, while the bank's support to the economy through cash and non-cash loans amounted to a total of 2 trillion 170 billion 612 million 162 thousand TL. Customer deposits grew by 25.9% since the beginning of the year, reaching 2 trillion 16 billion 989 million 892 thousand TL. During this period, the bank announced a capital adequacy ratio of 15.8%, a return on equity of 32.9%, and a return on assets of 3.5%.
Kordsa experiences a decline in sales revenues Kordsa Teknik Tekstil A.Ş. (KORDS) has announced its third-quarter figures for 2024. The company's sales revenues decreased by 3% compared to the same period last year, falling to 235 million USD. Reasons for the decline include insufficient recovery in the tire reinforcement segment, high price competition, contracting market conditions in non-China markets, and the recovery in the civil aviation sector not yet reflecting in the composite sector.
Adel Kalemcilik attributes revenue decline to economic conditions Adel Kalemcilik Ticaret ve Sanayi A.Ş. (ADEL) reported a 21% decrease in net sales in the first nine months of 2024, dropping to 2.341 million TL. The decline was primarily attributed to the decrease in consumer purchasing power. Excluding the effect of TAS 29, net sales showed a 30% increase, amounting to 2.117 million TL. Net profit decreased from 448 million TL to 201 million TL; however, under the view excluding TAS 29, a net profit of 337 million TL was achieved.
Precautionary measures on Pacific Technology shares With a decision made by the Capital Markets Board, PATEK shares will not be available for margin transactions from October 31, 2024, until November 29, 2024, under the Volatility-Based Precautionary System.
Ral Investment Holding announces tender win Ral Yatırım Holding (RALYH) has won a major tender organized by the public sector through its subsidiary RAL Yapı Mühendislik A.Ş. The tender, organized by the Housing Development Administration, encompasses the construction of a total of 817 housing units and an additional commercial center project in the Defne District of Hatay Province, with an approved budget of 2 billion 129 million 68 thousand 760 TL.
Gelecek Varlık Yönetimi wins the right to purchase Denizbank's overdue receivables Gelecek Varlık Yönetimi A.Ş. (GLCVY) has acquired the right to purchase an individual portfolio valued at 140.7 million TL through a tender conducted by Denizbank. The finalization of the tender and the progress of the process will be subject to the approval of the bank's management board.
BigChefs announces an increase in sales despite inflation Büyük Şefler Gıda (BIGCH) announced its net sales figures for the year 2024; after inflation adjustments, sales increased by 12% compared to the previous year, reaching 4.8 billion TL. When evaluated without the TAS 29 application, the growth rate was 83%, with sales calculated at 4.2 billion TL.
Forte Bilgi decides to establish a new company Forte Bilgi İletişim Teknolojileri ve Savunma Sanayi A.Ş. (FORTE) has decided to establish a new company to evaluate opportunities in the information technology sector. This new company, planned as a wholly-owned subsidiary, aims to professionally monitor potential job opportunities in the industry.
TSKB General Directorate authorized for asset sales Türkiye Sınai Kalkınma Bankası (TSKB) has granted authorization to its General Directorate to sell a portion of its shares in TSKB Gayrimenkul Yatırım Ortaklığı. In accordance with the board's decision, the sales could reach a nominal amount of 25 million TL within the year.
Tureks Turunç Madencilik receives positive EIA decision for marble quarry project Tureks Turunç Madencilik (MARBL) has received a positive Environmental Impact Assessment (EIA) decision for its marble quarry capacity increase project in Afyonkarahisar. The report approved by the ministry stipulates that the project must be conducted in compliance with environmental regulations and that necessary permits must be obtained.
Turkish Tractor makes a strategic acquisition decision Türk Traktör ve Ziraat Makineleri A.Ş. (TTRAK) has signed a contract for the purchase of all shares of Kayhan Ertuğrul Tarım Sanayi ve Ticaret A.Ş. and its affiliated companies. The purchase price has been set at a total of 65,548,187 USD, and the closing process is planned to be completed within four months, subject to conditions such as the approval of the Competition Authority.
Petkim successfully completes major planned maintenance Petkim Petrokimya (PETKM) Holding A.Ş. has successfully completed a major planned maintenance work carried out at the STAR Refinery, announcing a 2.5% increase in the plant's production capacity during this process. During the maintenance period, Petkim's raw material supply was continuously provided from STAR Refinery stocks and other suppliers.
Tekfen Holding initiates share buyback Tekfen Holding (TKFEN) has announced that it has initiated a share buyback program in accordance with the Capital Markets Board's Communiqué on Repurchased Shares to support the healthy formation of prices in the stock market. As specified in the announcement made on January 31, 2024, under this program, shares worth a nominal value of 200,000 TL were repurchased in a transaction carried out on Borsa Istanbul on October 30, 2024, at a price range of 74.10-74.75 TL. With this transaction, the total nominal value of shares repurchased by the company has reached 4,601,905 TL, which corresponds to 1.2438% of the company's capital.