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TÜRK TRAKTÖR VE ZIRAAT MAKINELERI A.S.

(TTRAK)
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Turk Traktor ve Ziraat Makineleri : Turkish police threaten to seize factories of face mask manufacturers

03/23/2020 | 04:31pm EDT

Turkey’s police threatened face mask manufacturers with the seizure of their factories if they failed to start selling their stock to the government by 20:00 local time on March 23.

Interior Minister Suleyman Soylu informed reporters that on March 22 simultaneous raids were carried out on depots of some local producers stocking protective masks. The producers were warned that they must immediately sign contracts with the health ministry given the situation with the coronavirus (COVID-19) outbreak, he said.

Police and local officials, meanwhile, started to assist with deliveries of food and medicine to homes of citizens older than 65 and those with chronic diseases.

Turkey has shut down more than 165,000 businesses in its effort to contain the spread of the virus, which had officially claimed 30 lives in the country by the end of March 22.

Bloomberg repoted that Turk Traktor ve Ziraat Makineleri suspended production for 14 days at its two plants from March 23 to contain the spread of coronavirus and due to disruptions in procurement and deliveries from Europe. The day also reportedly saw three textile companies—Menderes Tekstil Sanayi ve Ticaret, Rodrigo Tekstil Sanayi ve Ticaret and Soktas Tekstil Sanayi ve Ticare—halt production.

©2020 bne IntelliNews , source Magazine

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Financials
Sales 2021 10 428 M 1 195 M 1 195 M
Net income 2021 1 154 M 132 M 132 M
Net cash 2021 34,0 M 3,90 M 3,90 M
P/E ratio 2021 8,17x
Yield 2021 10,8%
Capitalization 9 126 M 1 046 M 1 046 M
EV / Sales 2021 0,87x
EV / Sales 2022 0,90x
Nbr of Employees 2 110
Free-Float 25,0%
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Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 182,20 TRY
Last Close Price 171,00 TRY
Spread / Highest target 40,4%
Spread / Average Target 6,55%
Spread / Lowest Target -69,8%
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Managers and Directors
NameTitle
Ibrahim Aykut Özüner Chief Executive Officer & Executive Director
Ahmet Canbeyli Chief Financial Officer
Levent Çakiroglu Chairman
Jetender Ahuja Chief Technical Officer
Umut Kolçuoglu Independent Non-Executive Director
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