Valuation Update With 7 Day Price Move • May 05
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₺52.90, the stock trades at a trailing P/E ratio of 25.1x. Average trailing P/E is 40x in the Metals and Mining industry in Turkey. Total returns to shareholders of 102% over the past three years. Ankündigung • Mar 04
Iskenderun Demir ve Çelik A.S., Annual General Meeting, Mar 26, 2026 Iskenderun Demir ve Çelik A.S., Annual General Meeting, Mar 26, 2026. Location: radisson blu hotel, istanbul asia -balo salonu ii, ataturk mahallesi yakut caddesi no: 10 atasehir, lstanbul Turkey New Risk • Feb 21
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 5.1% Last year net profit margin: 13% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (5.1% net profit margin). Reported Earnings • Feb 21
Full year 2025 earnings released: EPS: ₺2.11 (vs ₺4.92 in FY 2024) Full year 2025 results: EPS: ₺2.11 (down from ₺4.92 in FY 2024). Revenue: ₺121.0b (up 9.5% from FY 2024). Net income: ₺6.11b (down 57% from FY 2024). Profit margin: 5.1% (down from 13% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 22
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: ₺33.5b (up 28% from 3Q 2024). Net income: ₺1.59b (up 55% from 3Q 2024). Profit margin: 4.7% (up from 3.9% in 3Q 2024). Upcoming Dividend • Jun 25
Upcoming dividend of ₺0.25 per share Eligible shareholders must have bought the stock before 02 July 2025. Payment date: 04 July 2025. Payout ratio is a comfortable 10% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of Turkish dividend payers (3.8%). Higher than average of industry peers (1.1%). Ankündigung • Mar 04
Iskenderun Demir ve Çelik A.S., Annual General Meeting, Mar 26, 2025 Iskenderun Demir ve Çelik A.S., Annual General Meeting, Mar 26, 2025. Location: sheraton grand istanbul atasehir hotel - great, room salonu , barbaros mahallesi mor sumbul sokagi, no: 1 atasehir, istanbul Turkey New Risk • Feb 18
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 124% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (90% cash payout ratio). Large one-off items impacting financial results. Reported Earnings • Feb 14
Full year 2024 earnings released: EPS: ₺4.92 (vs ₺1.59 in FY 2023) Full year 2024 results: EPS: ₺4.92 (up from ₺1.59 in FY 2023). Revenue: ₺110.4b (up 25% from FY 2023). Net income: ₺14.3b (up 210% from FY 2023). Profit margin: 13% (up from 5.2% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 23% per year. New Risk • Oct 25
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 26% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Reported Earnings • Oct 23
Third quarter 2024 earnings released: EPS: ₺0.35 (vs ₺0.30 in 3Q 2023) Third quarter 2024 results: EPS: ₺0.35 (up from ₺0.30 in 3Q 2023). Revenue: ₺26.1b (up 12% from 3Q 2023). Net income: ₺1.03b (up 16% from 3Q 2023). Profit margin: 3.9% (up from 3.8% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Aug 26
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 45% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (348% cash payout ratio). Large one-off items impacting financial results. Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: ₺0.96 (vs ₺0.56 loss in 2Q 2023) Second quarter 2024 results: EPS: ₺0.96 (up from ₺0.56 loss in 2Q 2023). Revenue: ₺28.1b (up 65% from 2Q 2023). Net income: ₺2.79b (up ₺4.41b from 2Q 2023). Profit margin: 9.9% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Jul 22
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to ₺41.10. The fair value is estimated to be ₺33.92, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 42% over the last 3 years. Earnings per share has declined by 14%. Buy Or Sell Opportunity • Jul 02
Now 14% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to ₺37.12. The fair value is estimated to be ₺32.60, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 42% over the last 3 years. Earnings per share has declined by 14%. Buy Or Sell Opportunity • Jun 20
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to ₺39.60. The fair value is estimated to be ₺32.89, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 42% over the last 3 years. Earnings per share has declined by 14%. Buy Or Sell Opportunity • Jun 04
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 2.1% to ₺38.96. The fair value is estimated to be ₺32.16, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 42% over the last 3 years. Earnings per share has declined by 14%. Buy Or Sell Opportunity • May 20
Now 22% overvalued Over the last 90 days, the stock has fallen 5.1% to ₺39.02. The fair value is estimated to be ₺31.96, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 42% over the last 3 years. Earnings per share has declined by 35%. New Risk • May 14
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.3% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • May 11
First quarter 2024 earnings released First quarter 2024 results: Revenue: ₺25.7b (up 153% from 1Q 2023). Net income: ₺4.32b (up ₺5.17b from 1Q 2023). Profit margin: 17% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 41% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 09
Upcoming dividend of ₺0.50 per share Eligible shareholders must have bought the stock before 16 April 2024. Payment date: 18 April 2024. The company last paid an ordinary dividend in July 2016. The average dividend yield among industry peers is 0.7%. Ankündigung • Feb 29
Iskenderun Demir ve Çelik A.S., Annual General Meeting, Mar 28, 2024 Iskenderun Demir ve Çelik A.S., Annual General Meeting, Mar 28, 2024, at 07:00 Coordinated Universal Time. Location: Great Room of Sheraton Grand stanbul Ataehir Hotel, located at the address Barbaros Mahallesi Mor Sümbül Sokai No: 1 Ataehir/stanbul Istanbul Turkey Agenda: TO approve the 2023 Board of Directors' Annual Activity Report; to approve the 2023 Independent Audit Report; to Vote and Resolve the Balance Sheet and Profit & Loss Accounts Separately for the Financial Year of 2023; to Vote and Resolve the Acquittal of Members of the Board of Directors Separately for the Financial Year of 2023; to approve the Proposal of Board of Directors for the Distribution of Profit for the Year 2023; to approve the Determination of the Election and Term of Office; and to discuss other matters. Reported Earnings • Feb 23
Full year 2023 earnings released Full year 2023 results: Revenue: ₺88.6b (up 43% from FY 2022). Net income: ₺4.60b (down 32% from FY 2022). Profit margin: 5.2% (down from 11% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 53% per year, which means it is well ahead of earnings. Reported Earnings • Oct 27
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: ₺23.4b (up 33% from 3Q 2022). Net income: ₺885.1m (up 37% from 3Q 2022). Profit margin: 3.8% (up from 3.7% in 3Q 2022). The increase in margin was driven by higher revenue. Reported Earnings • Aug 10
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: ₺17.0b (down 12% from 2Q 2022). Net loss: ₺1.62b (down 144% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has increased by 75% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jul 02
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 21% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.7% net profit margin). Valuation Update With 7 Day Price Move • May 30
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₺33.76, the stock trades at a trailing P/E ratio of 30.4x. Average trailing P/E is 9x in the Metals and Mining industry in Turkey. Total returns to shareholders of 557% over the past three years. Reported Earnings • May 03
First quarter 2023 earnings released: ₺0.29 loss per share (vs ₺0.92 profit in 1Q 2022) First quarter 2023 results: ₺0.29 loss per share (down from ₺0.92 profit in 1Q 2022). Revenue: ₺10.2b (down 35% from 1Q 2022). Net loss: ₺845.3m (down 132% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has increased by 57% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 04
Full year 2022 earnings released Full year 2022 results: Revenue: ₺62.0b (up 70% from FY 2021). Net income: ₺6.73b (up 4.0% from FY 2021). Profit margin: 11% (down from 18% in FY 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₺41.00, the stock trades at a trailing P/E ratio of 16.2x. Average trailing P/E is 11x in the Metals and Mining industry in Turkey. Total returns to shareholders of 686% over the past three years. Board Change • Feb 20
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Board Member Emre Goltepe was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Board Member Emre Goltepe was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improved over the past week After last week's 21% share price gain to ₺30.74, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 8x in the Metals and Mining industry in Turkey. Total returns to shareholders of 552% over the past three years. Reported Earnings • Oct 29
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: ₺17.5b (up 67% from 3Q 2021). Net income: ₺647.8m (down 78% from 3Q 2021). Profit margin: 3.7% (down from 29% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 65% per year whereas the company’s share price has increased by 61% per year. Reported Earnings • Aug 11
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: ₺19.2b (up 115% from 2Q 2021). Net income: ₺3.66b (up 78% from 2Q 2021). Profit margin: 19% (down from 23% in 2Q 2021). The decrease in margin was driven by higher expenses. Reported Earnings • Apr 29
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: ₺0.92 (up from ₺0.36 in 1Q 2021). Revenue: ₺15.6b (up 180% from 1Q 2021). Net income: ₺2.66b (up 152% from 1Q 2021). Profit margin: 17% (down from 19% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) missed analyst estimates by 17%. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has increased by 59% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Board Member Emre Goltepe was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 15
Upcoming dividend of ₺3.00 per share Eligible shareholders must have bought the stock before 22 March 2022. Payment date: 24 March 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 4.6%. Within top quartile of Turkish dividend payers (3.8%). In line with average of industry peers (4.9%). Valuation Update With 7 Day Price Move • Mar 01
Investor sentiment improved over the past week After last week's 17% share price gain to ₺23.80, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 11x in the Metals and Mining industry in Turkey. Total returns to shareholders of 384% over the past three years. Ankündigung • Feb 24
Iskenderun Demir ve Çelik A.S., Annual General Meeting, Mar 17, 2022 Iskenderun Demir ve Çelik A.S., Annual General Meeting, Mar 17, 2022, at 07:00 Coordinated Universal Time. Location: the Head Office of OYAK Maden Metalürji Conference Hall, located at the address Barbaros Mahallesi Ardiç Sokak No: 6 Ataehir/stanbul. Istanbul Turkey Agenda: To consider Reading and Discussion of the 2021 Board of Directors' Annual Activity Report; to consider reading of the 2021 Independent Audit Report; to consider reading, Discussion, Submission to Voting and Resolving the Balance Sheet and Profit & Loss Accounts Separately for the Financial Year of 2021; to consider Discussion, Submission to Voting and Resolving the Acquittal of Members of the Board of Directors Separately for the Financial Year of 2021; to consider discussion, Submission to Voting and Resolving the Proposal of Board of Directors for the Distribution of Profit for the Year 2021 and Dividend Payment Date; and to consider other matters. Reported Earnings • Feb 12
Full year 2021 earnings: Revenues exceed analyst expectations Full year 2021 results: Revenue: ₺36.5b (up 116% from FY 2020). Net income: ₺6.47b (up 167% from FY 2020). Profit margin: 18% (up from 14% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.8%. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment deteriorated over the past week After last week's 20% share price decline to ₺20.52, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 12x in the Metals and Mining industry in Turkey. Total returns to shareholders of 436% over the past three years. Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment improved over the past week After last week's 17% share price gain to ₺22.54, the stock trades at a trailing P/E ratio of 8.7x. Average trailing P/E is 12x in the Metals and Mining industry in Turkey. Total returns to shareholders of 414% over the past three years. Upcoming Dividend • Dec 01
Upcoming dividend of ₺1.50 per share Eligible shareholders must have bought the stock before 08 December 2021. Payment date: 10 December 2021. Trailing yield: 6.4%. Within top quartile of Turkish dividend payers (2.8%). In line with average of industry peers (7.1%). Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment improved over the past week After last week's 17% share price gain to ₺16.48, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 11x in the Metals and Mining industry in Turkey. Total returns to shareholders of 234% over the past three years. Reported Earnings • Oct 28
Third quarter 2021 earnings released The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₺10.5b (up 143% from 3Q 2020). Net income: ₺3.00b (up ₺2.61b from 3Q 2020). Profit margin: 29% (up from 9.2% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Reported Earnings • Aug 11
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₺8.94b (up 153% from 2Q 2020). Net income: ₺2.06b (up 345% from 2Q 2020). Profit margin: 23% (up from 13% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Reported Earnings • May 03
First quarter 2021 earnings released The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ₺5.56b (up 51% from 1Q 2020). Net income: ₺1.06b (up 401% from 1Q 2020). Profit margin: 19% (up from 5.7% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₺11.13, the stock trades at a trailing P/E ratio of 13.3x. Average trailing P/E is 16x in the Metals and Mining industry in Turkey. Total returns to shareholders of 121% over the past three years. Upcoming Dividend • Mar 17
Upcoming Dividend of ₺1.28 Per Share Will be paid on the 26th of March to those who are registered shareholders by the 24th of March. The trailing yield of 1.4% is below the top quartile of Turkish dividend payers (2.6%), and is lower than industry peers (2.0%). Ankündigung • Feb 18
Iskenderun Demir ve Çelik A.S., Annual General Meeting, Mar 16, 2021 Iskenderun Demir ve Çelik A.S., Annual General Meeting, Mar 16, 2021, at 07:00 Coordinated Universal Time. Location: at the address Barbaros Mahallesi Ardiç Sokak No: 6 Ataehir Istanbul Turkey Agenda: To consider the authorization of Meeting Chairmanship for Signing of the Meeting Minutes and Other Documents; to consider the reading and discussion of the 2020 Board of Directors' Annual Activity Report; to consider the reading of the 2020 Independent Audit Report; to consider the discussion, Submission to Voting and Resolving the Acquittal of Members of the Board of Directors Separately for the Financial Year of 2020; to consider the discussion, Submission to Voting and Resolving the Proposal of Board of Directors for the Distribution of Profit for the Year 2020 and Dividend Payment Date; to consider the discussion, Submission to Voting and Resolving the Remuneration of the Members of Board of Directors; and to consider the other matters. Reported Earnings • Feb 13
Full year 2020 earnings released The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ₺16.9b (up 2.9% from FY 2019). Net income: ₺2.42b (up 12% from FY 2019). Profit margin: 14% (up from 13% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 11
New 90-day high: ₺11.90 The company is up 50% from its price of ₺7.93 on 13 November 2020. The Turkish market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 49% over the same period. Is New 90 Day High Low • Jan 12
New 90-day high: ₺10.46 The company is up 38% from its price of ₺7.58 on 14 October 2020. The Turkish market is up 17% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 47% over the same period. Is New 90 Day High Low • Dec 23
New 90-day high: ₺10.07 The company is up 42% from its price of ₺7.10 on 23 September 2020. The Turkish market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 35% over the same period. Is New 90 Day High Low • Dec 07
New 90-day high: ₺8.83 The company is up 26% from its price of ₺7.01 on 08 September 2020. The Turkish market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 23% over the same period. Is New 90 Day High Low • Nov 10
New 90-day high: ₺8.16 The company is up 18% from its price of ₺6.93 on 12 August 2020. The Turkish market is down 1.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Metals and Mining industry, which is also up 18% over the same period. Reported Earnings • Oct 24
Third quarter earnings released Over the last 12 months the company has reported total profits of ₺1.33b, down 56% from the prior year. Total revenue was ₺15.4b over the last 12 months, down 9.1% from the prior year. Is New 90 Day High Low • Oct 05
New 90-day high: ₺7.69 The company is up 4.0% from its price of ₺7.40 on 07 July 2020. The Turkish market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 5.0% over the same period. 
