Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₺45.24, the stock trades at a trailing P/E ratio of 54.3x. Average trailing P/E is 31x in the Electric Utilities industry in Turkey. Total returns to shareholders of 109% over the past three years. New Risk • Jun 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Turkish stocks, typically moving 9.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (173% payout ratio). Share price has been volatile over the past 3 months (9.3% average weekly change). Profit margins are more than 30% lower than last year (3.1% net profit margin). Buy Or Sell Opportunity • May 12
Now 21% undervalued Over the last 90 days, the stock has risen 24% to ₺35.56. The fair value is estimated to be ₺44.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 24% over the last 3 years. Earnings per share has declined by 71%. Upcoming Dividend • Apr 14
Upcoming dividend of ₺0.78 per share Eligible shareholders must have bought the stock before 21 April 2026. Payment date: 24 April 2026. The company is not currently making a profit but it is cash flow positive. Trailing yield: 4.4%. Within top quartile of Turkish dividend payers (2.6%). Higher than average of industry peers (3.2%). Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₺36.38, the stock trades at a trailing P/E ratio of 42.7x. Average trailing P/E is 25x in the Electric Utilities industry in Turkey. Total returns to shareholders of 70% over the past three years. 공시 • Mar 24
Ayen Enerji A.S., Annual General Meeting, Apr 15, 2026 Ayen Enerji A.S., Annual General Meeting, Apr 15, 2026. Location: 100. yil mahallesi hulya sokak no:37 gaziosmanpasa, ankara Turkey Reported Earnings • Mar 10
Full year 2025 earnings released Full year 2025 results: Revenue: ₺7.87b (up 21% from FY 2024). Net income: ₺236.5m (down 68% from FY 2024). Profit margin: 3.0% (down from 11% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 11
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: ₺1.97b (up 19% from 3Q 2024). Net loss: ₺193.1m (down 213% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 15
Upcoming dividend of ₺0.25 per share Eligible shareholders must have bought the stock before 22 September 2025. Payment date: 24 September 2025. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 13%. Within top quartile of Turkish dividend payers (3.1%). Higher than average of industry peers (3.3%). Reported Earnings • Aug 19
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: ₺1.63b (down 5.1% from 2Q 2024). Net income: ₺170.1m (down 29% from 2Q 2024). Profit margin: 10% (down from 14% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Aug 14
Upcoming dividend of ₺0.25 per share Eligible shareholders must have bought the stock before 21 August 2025. Payment date: 25 August 2025. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 14%. Within top quartile of Turkish dividend payers (3.1%). Higher than average of industry peers (3.3%). Upcoming Dividend • Jul 14
Upcoming dividend of ₺0.25 per share Eligible shareholders must have bought the stock before 21 July 2025. Payment date: 23 July 2025. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 15%. Within top quartile of Turkish dividend payers (3.3%). Higher than average of industry peers (3.4%). Upcoming Dividend • Jun 16
Upcoming dividend of ₺0.25 per share Eligible shareholders must have bought the stock before 23 June 2025. Payment date: 25 June 2025. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 16%. Within top quartile of Turkish dividend payers (3.7%). Higher than average of industry peers (3.5%). Upcoming Dividend • May 14
Upcoming dividend of ₺0.25 per share Eligible shareholders must have bought the stock before 21 May 2025. Payment date: 23 May 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 14%. Within top quartile of Turkish dividend payers (3.4%). Higher than average of industry peers (3.5%). Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₺23.70, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 16x in the Electric Utilities industry in Asia. Total returns to shareholders of 102% over the past three years. 공시 • Mar 21
Ayen Enerji A.S., Annual General Meeting, Apr 17, 2025 Ayen Enerji A.S., Annual General Meeting, Apr 17, 2025. Location: 100. yil mah. hulya sokak, no:37 gaziosmanpasa, ankara Turkey Reported Earnings • Mar 13
Full year 2024 earnings released: EPS: ₺2.64 (vs ₺4.04 in FY 2023) Full year 2024 results: EPS: ₺2.64 (down from ₺4.04 in FY 2023). Revenue: ₺6.49b (up 23% from FY 2023). Net income: ₺731.5m (down 35% from FY 2023). Profit margin: 11% (down from 21% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Jan 14
Now 21% undervalued Over the last 90 days, the stock has risen 13% to ₺30.30. The fair value is estimated to be ₺38.16, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 27%. Buy Or Sell Opportunity • Dec 18
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.5% to ₺29.86. The fair value is estimated to be ₺38.16, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 27%. Upcoming Dividend • Nov 22
Upcoming dividend of ₺0.61 per share Eligible shareholders must have bought the stock before 29 November 2024. Payment date: 03 December 2024. Payout ratio is on the higher end at 96% but the company is not cash flow positive. Trailing yield: 12%. Within top quartile of Turkish dividend payers (2.7%). Higher than average of industry peers (3.5%). Buy Or Sell Opportunity • Nov 20
Now 22% undervalued The stock has been flat over the last 90 days, currently trading at ₺29.90. The fair value is estimated to be ₺38.16, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 25%. Reported Earnings • Nov 13
Third quarter 2024 earnings released: EPS: ₺0.61 (vs ₺0.27 in 3Q 2023) Third quarter 2024 results: EPS: ₺0.61 (up from ₺0.27 in 3Q 2023). Revenue: ₺1.66b (up 35% from 3Q 2023). Net income: ₺170.6m (up 124% from 3Q 2023). Profit margin: 10% (up from 6.2% 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 25% per year but the company’s share price has increased by 68% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Oct 24
Upcoming dividend of ₺0.61 per share Eligible shareholders must have bought the stock before 31 October 2024. Payment date: 04 November 2024. Payout ratio is on the higher end at 96% but the company is not cash flow positive. Trailing yield: 14%. Within top quartile of Turkish dividend payers (3.0%). Higher than average of industry peers (3.4%). Reported Earnings • Oct 01
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: ₺1.72b (up 66% from 2Q 2023). Net income: ₺43.8m (down 76% from 2Q 2023). Profit margin: 2.5% (down from 18% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has increased by 80% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 23
Upcoming dividend of ₺0.61 per share Eligible shareholders must have bought the stock before 30 September 2024. Payment date: 02 October 2024. Payout ratio is a comfortable 13% but the company is not cash flow positive. Trailing yield: 3.3%. Within top quartile of Turkish dividend payers (2.6%). In line with average of industry peers (3.4%). Upcoming Dividend • Aug 22
Upcoming dividend of ₺0.61 per share Eligible shareholders must have bought the stock before 29 August 2024. Payment date: 03 September 2024. Payout ratio is a comfortable 13% but the company is not cash flow positive. Trailing yield: 3.3%. Within top quartile of Turkish dividend payers (2.6%). In line with average of industry peers (3.3%). Upcoming Dividend • Jul 24
Upcoming dividend of ₺0.61 per share Eligible shareholders must have bought the stock before 31 July 2024. Payment date: 02 August 2024. Payout ratio is a comfortable 13% but the company is not cash flow positive. Trailing yield: 3.0%. Within top quartile of Turkish dividend payers (2.4%). Lower than average of industry peers (3.4%). New Risk • Jul 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Turkish stocks, typically moving 8.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.9% average weekly change). Upcoming Dividend • Jun 20
Upcoming dividend of ₺0.61 per share Eligible shareholders must have bought the stock before 27 June 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 3.1%. Within top quartile of Turkish dividend payers (2.3%). In line with average of industry peers (3.4%). Reported Earnings • May 21
Full year 2023 earnings released: EPS: ₺4.04 (vs ₺5.74 in FY 2022) Full year 2023 results: EPS: ₺4.04 (down from ₺5.74 in FY 2022). Revenue: ₺5.29b (down 22% from FY 2022). Net income: ₺1.12b (down 30% from FY 2022). Profit margin: 21% (down from 24% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 79% per year whereas the company’s share price has increased by 77% per year. Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₺35.08, the stock trades at a trailing P/E ratio of 13.3x. Average trailing P/E is 13x in the Electric Utilities industry in Turkey. Total returns to shareholders of 562% over the past three years. Reported Earnings • Nov 10
Third quarter 2023 earnings released: EPS: ₺0.27 (vs ₺2.22 in 3Q 2022) Third quarter 2023 results: EPS: ₺0.27 (down from ₺2.22 in 3Q 2022). Revenue: ₺1.23b (down 46% from 3Q 2022). Net income: ₺76.1m (down 88% from 3Q 2022). Profit margin: 6.2% (down from 27% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has only increased by 74% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 20
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: ₺1.04b (down 20% from 2Q 2022). Net income: ₺181.4m (down 49% from 2Q 2022). Profit margin: 18% (down from 27% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 134% per year but the company’s share price has only increased by 96% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 16
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₺41.62, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 8x in the Electric Utilities industry in Turkey. Total returns to shareholders of 574% over the past three years. Valuation Update With 7 Day Price Move • Jun 28
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to ₺35.50, the stock trades at a trailing P/E ratio of 6.8x. Average trailing P/E is 7x in the Electric Utilities industry in Turkey. Total returns to shareholders of 513% over the past three years. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to ₺30.42, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 5x in the Electric Utilities industry in Turkey. Total returns to shareholders of 755% over the past three years. Reported Earnings • May 11
First quarter 2023 earnings released First quarter 2023 results: Revenue: ₺1.48b (up 58% from 1Q 2022). Net income: ₺80.7m (down 65% from 1Q 2022). Profit margin: 5.5% (down from 25% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 146% per year but the company’s share price has only increased by 79% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 03
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₺22.00, the stock trades at a trailing P/E ratio of 3.8x. Average trailing P/E is 4x in the Electric Utilities industry in Turkey. Total returns to shareholders of 608% over the past three years. Upcoming Dividend • Apr 19
Upcoming dividend of ₺0.98 per share at 3.8% yield Eligible shareholders must have bought the stock before 26 April 2023. Payment date: 28 April 2023. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 3.8%. Within top quartile of Turkish dividend payers (3.2%). Lower than average of industry peers (4.3%). Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₺28.82, the stock trades at a trailing P/E ratio of 5x. Average trailing P/E is 5x in the Electric Utilities industry in Turkey. Total returns to shareholders of 1,282% over the past three years. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₺25.72, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 6x in the Electric Utilities industry in Turkey. Total returns to shareholders of 541% over the past three years. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 11
Third quarter 2022 earnings released: EPS: ₺2.22 (vs ₺0.15 in 3Q 2021) Third quarter 2022 results: EPS: ₺2.22 (up from ₺0.15 in 3Q 2021). Revenue: ₺2.28b (up ₺1.93b from 3Q 2021). Net income: ₺615.9m (up ₺573.2m from 3Q 2021). Profit margin: 27% (up from 12% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 123% per year whereas the company’s share price has increased by 128% per year. Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment improved over the past week After last week's 19% share price gain to ₺26.94, the stock trades at a trailing P/E ratio of 11.4x. Average trailing P/E is 9x in the Electric Utilities industry in Turkey. Total returns to shareholders of 1,111% over the past three years. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₺26.56, the stock trades at a trailing P/E ratio of 11.2x. Average trailing P/E is 8x in the Electric Utilities industry in Turkey. Total returns to shareholders of 1,043% over the past three years. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improved over the past week After last week's 21% share price gain to ₺25.20, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 7x in the Electric Utilities industry in Turkey. Total returns to shareholders of 1,242% over the past three years. Reported Earnings • Aug 14
Second quarter 2022 earnings released: EPS: ₺1.27 (vs ₺0.10 in 2Q 2021) Second quarter 2022 results: EPS: ₺1.27 (up from ₺0.10 in 2Q 2021). Revenue: ₺1.30b (up 361% from 2Q 2021). Net income: ₺353.5m (up ₺324.3m from 2Q 2021). Profit margin: 27% (up from 10% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has increased by 123% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improved over the past week After last week's 18% share price gain to ₺16.64, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 8x in the Electric Utilities industry in Turkey. Total returns to shareholders of 826% over the past three years. Reported Earnings • May 12
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: ₺0.41 (up from ₺0.03 in 1Q 2021). Revenue: ₺934.8m (up 223% from 1Q 2021). Net income: ₺228.6m (up ₺220.4m from 1Q 2021). Profit margin: 25% (up from 2.9% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.0%. Earnings per share (EPS) also surpassed analyst estimates. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has increased by 86% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • May 11
Now 25% undervalued Over the last 90 days, the stock is up 72%. The fair value is estimated to be ₺21.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company has become profitable. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improved over the past week After last week's 25% share price gain to ₺17.25, the stock trades at a trailing P/E ratio of 42.9x. Average trailing P/E is 18x in the Electric Utilities industry in Asia. Total returns to shareholders of 826% over the past three years. Upcoming Dividend • Apr 18
Upcoming dividend of ₺0.11 per share Eligible shareholders must have bought the stock before 25 April 2022. Payment date: 27 April 2022. Trailing yield: 0.8%. Lower than top quartile of Turkish dividend payers (3.8%). Lower than average of industry peers (3.8%). Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment improved over the past week After last week's 45% share price gain to ₺12.01, the stock trades at a trailing P/E ratio of 29.8x. Average trailing P/E is 18x in the Electric Utilities industry in Asia. Total returns to shareholders of 494% over the past three years. Reported Earnings • Mar 13
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: ₺0.40 (up from ₺0.33 loss in FY 2020). Revenue: ₺1.57b (up 177% from FY 2020). Net income: ₺111.7m (up ₺203.2m from FY 2020). Profit margin: 7.1% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 4.0%. Earnings per share (EPS) also surpassed analyst estimates. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₺7.86, the stock trades at a trailing P/E ratio of 29.8x. Average trailing P/E is 16x in the Electric Utilities industry in Asia. Total returns to shareholders of 269% over the past three years. Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment improved over the past week After last week's 16% share price gain to ₺7.02, the stock trades at a trailing P/E ratio of 26.6x. Average trailing P/E is 15x in the Electric Utilities industry in Turkey. Total returns to shareholders of 268% over the past three years. Reported Earnings • Nov 11
Third quarter 2021 earnings released: EPS ₺0.15 (vs ₺0.14 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₺352.4m (up 155% from 3Q 2020). Net income: ₺42.6m (up ₺82.2m from 3Q 2020). Profit margin: 12% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year whereas the company’s share price has increased by 31% per year. Reported Earnings • Aug 24
Second quarter 2021 earnings released The company reported a decent second quarter result with improved revenues, although earnings and profit margins were weaker. Second quarter 2021 results: Revenue: ₺282.0m (up 133% from 2Q 2020). Net income: ₺29.2m (down 22% from 2Q 2020). Profit margin: 10% (down from 31% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Reported Earnings • May 21
First quarter 2021 earnings released: EPS ₺0.03 (vs ₺0.30 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ₺289.2m (up 137% from 1Q 2020). Net income: ₺8.24m (up ₺90.7m from 1Q 2020). Profit margin: 2.9% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Jan 26
New 90-day high: ₺6.21 The company is up 15% from its price of ₺5.40 on 28 October 2020. The Turkish market is up 23% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Electric Utilities industry, which is up 8.0% over the same period. Is New 90 Day High Low • Dec 21
New 90-day low: ₺5.31 The company is down 8.0% from its price of ₺5.77 on 22 September 2020. The Turkish market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electric Utilities industry, which is up 5.0% over the same period. Reported Earnings • Nov 11
Third quarter 2020 earnings released: ₺0.14 loss per share The company reported a soft third quarter result with weaker earnings and control over expenses, although revenues were improved. Third quarter 2020 results: Revenue: ₺138.4m (up 29% from 3Q 2019). Net loss: ₺39.6m (down 387% from profit in 3Q 2019). 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 4% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Oct 14
New 90-day high: ₺6.76 The company is up 7.0% from its price of ₺6.34 on 16 July 2020. The Turkish market is up 16% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Electric Utilities industry, which is up 1.0% over the same period.