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Vestel Elektronik Q2 Net Profit Increases To 309.9 Million Lira YoY
Vestel Elektronik Q1 Net Loss Jumps To 274.4 Million Lira YoY
Vestel Elektronik Proposes Not To Pay Dividend For FY 2018
Vestel Elektronik Sanayi ve Ticaret A.S. (Vestel) is a Vestel Group Company based in Turkey, engaged in the manufacture, marketing and distribution of consumer electronics, digital technologies, household appliance and information technologies. It operates in three main segments: television and electronics; refrigerator, air conditioning units, washing machines and cookers, and digital devices. Its product portfolio includes liquid crystal display (LCD) television sets (TV), plasma TV, digital set-top boxes. The Company has production facilities in Manisa and Izmir in the Aegean Region of Turkey, and in Vladimir Region of Russia. Domestic and foreign marketing and distribution of all Vestel products are undertaken by Vestel Marketing and Vestel Foreign Trading, respectively. The Company is a subsidiary of Collar holding B.V. In September, 2013, Zorlu Holding AS raised its interest to 77.54% from 2.73%, by acquiring a 74.81% interest, in the Company.
Audio & Video Equipment
Levent 199 Buyukdere Cad. No 199 Sisli
Enis Turan Erdogan
Chairman of the Executive Committee
Ahmet Nazif Zorlu
Non-Executive Chairman of the Board of Directors
Ismail Murat Sarpel
General Manager, Executive Committee Member
Independent Non-Executive Vice Chairman of the Board of Directors
Chief Financial Officer, Executive Committee Member
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Turkey's banking watchdog has eased payment regulations for credit cards, raising the maximum number of instalments and cutting repayment levels as it looks to support domestic consumption in a struggling economy.
The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:
Turkish fixed-line operator Turk Telekom said on Friday that it clinched a cooperation deal with Vestel after President Tayyip Erdogan called on Turks to use locally-made mobile phones instead of Apple's iPhone.
* U.S. demanding release of Christian pastor in Turkey (Adds U.S. State Department comment on economy)
President Tayyip Erdogan said on Tuesday Turkey would boycott electronic products from the United States, which has imposed sanctions and raised tariffs against Ankara in a dispute about the detention of a U.S. evangelical pastor.
* SAID ON MONDAY Q2 REVENUE 3.89 BILLION LIRA VERSUS 2.96 BILLION LIRA YEAR AGO
* SAID ON SATURDAY VESTEL ELEKTRONIK ESTABLISHES JOINT VENTURE FOR TURKEY'S CAR INDUSTRY AND COMMERCE WITH ANADOLU GRUBU HOLDING, TURKCELL ILETISIM, KARSAN OTOMOTIV AND BMC
VESTEL ELEKTRONIK SANAYI VE TICARET AS :
* TO USE STATE INCENTIVES FOR BATTERY FACTORY AND ELECTRIC CAR INVESTMENTS Source text for Eikon: Further company coverage: (Gdynia Newsroom)
Turkey will award a total of 137.4 billion lira ($34 billion) in incentives to projects by companies including Vestel <VESTL.IS>, Tosyali, Metcap and Sasa <SASA.IS>, the economy ministry said on Monday.
Turkey's Zorlu Holding is preparing its units for initial public offerings either in the domestic market or abroad, its chief executive Omer Yungul told Reuters on Friday, and it was also considering using international capital markets instruments.
* FY 2017 NET PROFIT OF 55.1 MILLION LIRA VERSUS 167.7 MILLION LIRA YEAR AGO
* CONTROLLING SHAREHOLDER ZORLU HOLDING SIGNS PRE-CONTRACT WORTH $4.5 BILLION WITH CHINESE GSR CAPITAL
Here are news, reports and events that may affect Turkish financial markets on Monday.
Turkey's Zorlu Holding has signed an agreement with Chinese investment firm GSR Capital for investments in battery production totaling $4.5 billion until 2023, Zorlu's chief executive said on Sunday.
* ITS 94.6 PERCENT UNIT VESTEL BEYAZ ESYA NOT TO ACQUIRE DONGBU DAEWOO ELECTRONICS Source text for Eikon: Further company coverage: (Gdynia Newsroom)
* MEMBERS OF EXECUTIVE BOARD, IHSANER ALKIM, AHMET SUHA EROL AND NEDIM SEZER RETIRED IN JANUARY 01
* ITS 94.6 PERCENT-OWNED UNIT VESTEL BEYAZ ESYA MAKES BINDING OFFER TO FULLY ACQUIRE SOUTH KOREAN-BASED WHITE APPLIANCES FIRM DONGBU DAEWOO ELECTRONICS CORPORATION Source text for Eikon: Further company coverage: (Gdynia Newsroom)
* ITS OFFICIAL BID FOR ACQUIRING TOSHIBA VISUAL SOLUTIONS CORPORATION DECLINED BY TOSHIBA CORPORATION
Here are news, reports and events that may affect Turkish financial markets on Friday.
Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.