Announcement • Jun 03
Çemas Döküm Sanayi A.S., Annual General Meeting, Jun 30, 2026 Çemas Döküm Sanayi A.S., Annual General Meeting, Jun 30, 2026. Location: cubuklu mah.yakut sok., eryilmaz plaza. no:3, ic kapi no: 1 beykoz, istanbul Turkey New Risk • May 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₺741m free cash flow). Earnings have declined by 50% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). Market cap is less than US$100m (₺3.80b market cap, or US$82.9m). Announcement • Apr 28
Çemas Döküm Sanayi A.S., Annual General Meeting, May 21, 2026 Çemas Döküm Sanayi A.S., Annual General Meeting, May 21, 2026. Location: cubuklu mah.yakut sok. eryilmaz plaza. no:3 ic, kapi no: 1 beykoz, istanbul Turkey Announcement • Sep 19
Çemas Döküm Sanayi A.S., Annual General Meeting, Oct 16, 2025 Çemas Döküm Sanayi A.S., Annual General Meeting, Oct 16, 2025. Location: big thermal spa resort oteli, bagbasi, termal cad no:1, 40100 kirsehir -merkez, kirsehir Turkey New Risk • Apr 15
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 8.0% 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: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₺1.1b free cash flow). Earnings have declined by 47% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.0% average weekly change). Market cap is less than US$100m (₺3.69b market cap, or US$97.1m). Announcement • Mar 26
Çemas Döküm Sanayi A.S., Annual General Meeting, Apr 25, 2025 Çemas Döküm Sanayi A.S., Annual General Meeting, Apr 25, 2025. Location: cubuklu mah, yakut sok. eryilmaz plaza., no:3 lc kapi no: 1 kavacik, istanbul Turkey Reported Earnings • Mar 12
Full year 2024 earnings released: ₺0.62 loss per share (vs ₺0.38 loss in FY 2023) Full year 2024 results: ₺0.62 loss per share (further deteriorated from ₺0.38 loss in FY 2023). Revenue: ₺1.88b (up 14% from FY 2023). Net loss: ₺490.1m (loss widened 62% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 112 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 13
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: ₺404.2m (up 32% from 3Q 2023). Net loss: ₺75.8m (down 176% from profit in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 131 percentage points per year, which is a significant difference in performance. Reported Earnings • Sep 26
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: ₺341.0m (up 32% from 2Q 2023). Net income: ₺58.2m (down 62% from 2Q 2023). Profit margin: 17% (down from 59% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 136 percentage points per year, which is a significant difference in performance. New Risk • Jul 05
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₺429m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₺429m free cash flow). Earnings have declined by 35% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.8% average weekly change). Market cap is less than US$100m (₺2.98b market cap, or US$91.5m). New Risk • Jun 26
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Turkish stocks, typically moving 11% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risk Market cap is less than US$100m (₺3.02b market cap, or US$91.8m). Reported Earnings • Jun 23
First quarter 2024 earnings released: ₺0.32 loss per share (vs ₺0.045 profit in 1Q 2023) First quarter 2024 results: ₺0.32 loss per share (down from ₺0.045 profit in 1Q 2023). Revenue: ₺546.6m (up 81% from 1Q 2023). Net loss: ₺252.8m (down ₺288.0m from profit in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 57% per year, which means it is well ahead of earnings. Reported Earnings • May 23
Full year 2023 earnings released Full year 2023 results: Revenue: ₺1.65b (up 108% from FY 2022). Net loss: ₺302.1m (down 162% from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 45% per year, which means it is significantly lagging earnings growth. New Risk • May 22
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 9.9% 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: Major Risk High level of non-cash earnings (47% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (9.9% average weekly change). Market cap is less than US$100m (₺3.00b market cap, or US$93.1m). New Risk • Mar 27
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₺2.94b (US$91.2m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (47% accrual ratio). Minor Risk Market cap is less than US$100m (₺2.94b market cap, or US$91.2m). Valuation Update With 7 Day Price Move • Mar 26
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₺4.58, the stock trades at a trailing P/E ratio of 6.8x. Average trailing P/E is 22x in the Metals and Mining industry in Turkey. Total returns to shareholders of 255% over the past three years. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₺5.35, the stock trades at a trailing P/E ratio of 7.9x. Average trailing P/E is 25x in the Metals and Mining industry in Turkey. Total returns to shareholders of 241% over the past three years. Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to ₺5.09, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 13x in the Metals and Mining industry in Turkey. Total returns to shareholders of 186% over the past three years. Valuation Update With 7 Day Price Move • Nov 27
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₺6.46, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 14x in the Metals and Mining industry in Turkey. Total returns to shareholders of 266% over the past three years. New Risk • Oct 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 10% 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: Major Risk High level of non-cash earnings (43% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Profit margins are more than 30% lower than last year (48% net profit margin). Valuation Update With 7 Day Price Move • Sep 15
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₺3.94, the stock trades at a trailing P/E ratio of 6.5x. Average trailing P/E is 20x in the Metals and Mining industry in Turkey. Total returns to shareholders of 211% over the past three years. Reported Earnings • Aug 21
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: ₺259.2m (up 20% from 2Q 2022). Net income: ₺153.8m (up 71% from 2Q 2022). Profit margin: 59% (up from 42% in 2Q 2022). The increase in margin was primarily driven by higher revenue. Valuation Update With 7 Day Price Move • Jul 25
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₺2.29, the stock trades at a trailing P/E ratio of 4.4x. Average trailing P/E is 12x in the Metals and Mining industry in Turkey. Total returns to shareholders of 84% over the past three years. Reported Earnings • May 12
First quarter 2023 earnings released First quarter 2023 results: Revenue: ₺301.4m (up 102% from 1Q 2022). Net income: ₺35.3m (down 68% from 1Q 2022). Profit margin: 12% (down from 74% 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 91% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 16
Full year 2022 earnings released: EPS: ₺0.62 (vs ₺0.40 in FY 2021) Full year 2022 results: EPS: ₺0.62 (up from ₺0.40 in FY 2021). Revenue: ₺795.0m (up 139% from FY 2021). Net income: ₺490.5m (up 54% from FY 2021). Profit margin: 62% (down from 96% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 93% 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 10
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₺1.58, the stock trades at a trailing P/E ratio of 2.8x. Average trailing P/E is 8x in the Metals and Mining industry in Turkey. Total returns to shareholders of 61% over the past three years. Buying Opportunity • Feb 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 24%. The fair value is estimated to be ₺1.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 53% over the last 3 years. Earnings per share has grown by 78%. Buying Opportunity • Jan 11
Now 20% undervalued Over the last 90 days, the stock is up 38%. The fair value is estimated to be ₺2.75, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 53% over the last 3 years. Earnings per share has grown by 78%. Valuation Update With 7 Day Price Move • Dec 21
Investor sentiment improved over the past week After last week's 15% share price gain to ₺2.73, the stock trades at a trailing P/E ratio of 4.9x. Average trailing P/E is 12x in the Metals and Mining industry in Turkey. Total returns to shareholders of 163% over the past three years. Buying Opportunity • Dec 14
Now 21% undervalued Over the last 90 days, the stock is up 60%. The fair value is estimated to be ₺3.01, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 53% over the last 3 years. Earnings per share has grown by 78%. Buying Opportunity • Nov 28
Now 22% undervalued Over the last 90 days, the stock is up 70%. The fair value is estimated to be ₺3.23, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 53% over the last 3 years. Earnings per share has grown by 78%. 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: ₺0.055 (vs ₺0.032 in 3Q 2021) Third quarter 2022 results: EPS: ₺0.055 (up from ₺0.032 in 3Q 2021). Revenue: ₺189.1m (up 175% from 3Q 2021). Net income: ₺43.3m (up 72% from 3Q 2021). Profit margin: 23% (down from 37% 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 78% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 20
Investor sentiment improved over the past week After last week's 19% share price gain to ₺1.91, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 8x in the Metals and Mining industry in Turkey. Total returns to shareholders of 140% over the past three years. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improved over the past week After last week's 17% share price gain to ₺1.66, the stock trades at a trailing P/E ratio of 3.1x. Average trailing P/E is 8x in the Metals and Mining industry in Turkey. Total returns to shareholders of 99% over the past three years. Reported Earnings • Aug 20
Second quarter 2022 earnings released: EPS: ₺0.11 (vs ₺0.014 in 2Q 2021) Second quarter 2022 results: EPS: ₺0.11 (up from ₺0.014 in 2Q 2021). Revenue: ₺216.9m (up 156% from 2Q 2021). Net income: ₺90.2m (up ₺79.2m from 2Q 2021). Profit margin: 42% (up from 13% 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 76% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improved over the past week After last week's 18% share price gain to ₺1.52, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 7x in the Metals and Mining industry in Turkey. Total returns to shareholders of 232% over the past three years. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improved over the past week After last week's 16% share price gain to ₺1.39, the stock trades at a trailing P/E ratio of 3.2x. Average trailing P/E is 9x in the Metals and Mining industry in Turkey. Total returns to shareholders of 204% over the past three years. Reported Earnings • May 12
First quarter 2022 earnings released: EPS: ₺0.14 (vs ₺0.11 in 1Q 2021) First quarter 2022 results: EPS: ₺0.14 (up from ₺0.11 in 1Q 2021). Revenue: ₺149.1m (up 80% from 1Q 2021). Net income: ₺110.1m (up 25% from 1Q 2021). Profit margin: 74% (down from 107% in 1Q 2021). The decrease in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. 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. Reported Earnings • Mar 13
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ₺0.40 (up from ₺0.084 in FY 2020). Revenue: ₺332.9m (up 64% from FY 2020). Net income: ₺319.6m (up ₺279.7m from FY 2020). Profit margin: 96% (up from 20% in FY 2020). The increase in margin was primarily driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 11
Third quarter 2021 earnings released: EPS ₺0.032 (vs ₺0.075 in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: ₺68.7m (up 54% from 3Q 2020). Net income: ₺25.2m (down 30% from 3Q 2020). Profit margin: 37% (down from 80% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 24
Second quarter 2021 earnings released The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: ₺84.7m (up 91% from 2Q 2020). Net income: ₺11.0m (down 78% from 2Q 2020). Profit margin: 13% (down from 113% in 2Q 2020). The decrease in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jul 30
Investor sentiment improved over the past week After last week's 16% share price gain to ₺1.32, the stock trades at a trailing P/E ratio of 5.9x. Average trailing P/E is 12x in the Metals and Mining industry in Turkey. Total loss to shareholders of 24% over the past three years. Announcement • Jul 03
Cemas to Sell 6.5% Shares in Unit Ozisik Insaat to HMF Makine Çemas Döküm Sanayi A.S. (IBSE:CEMAS) decided to sell 6.5% shares in unit OZISIK Insaat ve Enerji A.S to HMF Makine at TRY 10 million. Reported Earnings • May 12
First quarter 2021 earnings released: EPS ₺0.19 (vs ₺0.009 in 1Q 2020) First quarter 2021 results: Revenue: ₺83.0m (up 59% from 1Q 2020). Net income: ₺88.4m (up ₺84.0m from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₺1.31, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 15x in the Metals and Mining industry in Turkey. Total loss to shareholders of 40% over the past three years. Reported Earnings • Mar 03
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: ₺202.8m (up 40% from FY 2019). Net income: ₺39.9m (up ₺58.1m from FY 2019). Profit margin: 20% (up from net loss in FY 2019). Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment deteriorated over the past week After last week's 30% share price decline to ₺1.55, the stock is trading at a trailing P/E ratio of 16.6x, down from the previous P/E ratio of 23.7x. This compares to an average P/E of 15x in the Metals and Mining industry in Turkey. Total return to shareholders over the past three years is a loss of 63%. Is New 90 Day High Low • Feb 24
New 90-day low: ₺2.12 The company is down 12% from its price of ₺2.42 on 26 November 2020. The Turkish market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 35% over the same period. Is New 90 Day High Low • Nov 16
New 90-day high: ₺2.55 The company is up 59% from its price of ₺1.60 on 18 August 2020. The Turkish market is down 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 19% over the same period. Reported Earnings • Nov 11
Third quarter 2020 earnings released: EPS ₺0.075 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ₺44.7m (up 16% from 3Q 2019). Net income: ₺35.7m (up 407% from 3Q 2019). Profit margin: 80% (up from 18% in 3Q 2019). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 26
Market pulls back on stock over the past week After last week's 15% share price decline to ₺1.98, the stock is trading at a trailing P/E ratio of 70.2x, down from the previous P/E ratio of 83x. This compares to an average P/E of 18x in the Metals and Mining industry in Turkey. Total returns to shareholders over the past three years are 13%. Valuation Update With 7 Day Price Move • Oct 12
Market bids up stock over the past week After last week's 18% share price gain to ₺2.05, the stock is trading at a trailing P/E ratio of 72.7x, up from the previous P/E ratio of 61.7x. This compares to an average P/E of 17x in the Metals and Mining industry in Turkey. Total returns to shareholders over the past three years are 18%. Is New 90 Day High Low • Oct 06
New 90-day high: ₺1.84 The company is up 7.0% from its price of ₺1.72 on 08 July 2020. The Turkish market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 8.0% over the same period.