Tekfen Holding AS
IST:TKFEN.E
If you don’t study any companies, you have the same success buying stocks as you do in a poker game if you bet without looking at your cards.
Utilize notes to systematically review your investment decisions. By reflecting on past outcomes, you can discern effective strategies and identify those that underperformed. This continuous feedback loop enables you to adapt and refine your approach, optimizing for future success.
Each note serves as a learning point, offering insights into your decision-making processes. Over time, you'll accumulate a personalized database of knowledge, enhancing your ability to make informed decisions quickly and effectively.
With a comprehensive record of your investment history at your fingertips, you can compare current opportunities against past experiences. This not only bolsters your confidence but also ensures that each decision is grounded in a well-documented rationale.
Do you really want to delete this note?
This action cannot be undone.
| 52 Week Range |
59.65
150
|
| Price Target |
|
We'll email you a reminder when the closing price reaches TRY.
Choose the stock you wish to monitor with a price alert.
This alert will be permanently deleted.
Tekfen Holding AS
Tekfen Holding AS is an investment company, which engages in the contracting, agricultural service, and real estate development industries. The firm operates five segments: Contracting, Agri-Industry, Real Estate Development, Banking and Investment and Services. Tekfen’s Contracting Group’s activities include infrastructural and industrial projects in several countries, like Saudi Arabia, Azerbaijan, Georgia, Kazakhstan, Morocco, United Arab Emirates, Qatar, Oman and Bulgaria. Tekfen also engages in the production of chemical fertilizers, seed and seedlings, along with power generation and terminal operations. The Company’s Real Estate Development Group is primarily involved in the design, construction, renting and marketing of shopping centers, office buildings, flats and hotels.
Tekfen Holding AS is an investment company, which engages in the contracting, agricultural service, and real estate development industries. The firm operates five segments: Contracting, Agri-Industry, Real Estate Development, Banking and Investment and Services. Tekfen’s Contracting Group’s activities include infrastructural and industrial projects in several countries, like Saudi Arabia, Azerbaijan, Georgia, Kazakhstan, Morocco, United Arab Emirates, Qatar, Oman and Bulgaria. Tekfen also engages in the production of chemical fertilizers, seed and seedlings, along with power generation and terminal operations. The Company’s Real Estate Development Group is primarily involved in the design, construction, renting and marketing of shopping centers, office buildings, flats and hotels.
Contracting Losses: The engineering and contracting division reported another EBITDA loss due to a $60 million overrun on a Saudi Aramco pipeline project with 18 months of delay, mostly caused by the client.
Claims Negotiations: Management is still in discussions with clients to recover losses through claims, particularly for the delayed Aramco project, but outcomes remain uncertain.
Backlog Status: The current backlog stands at $1.4 billion and is described as "clean" of major known issues, though management will update as projects progress.
Chemicals Export Ban: Turkish government restrictions on fertilizer exports continue; rumors suggest selective easing may come, but nothing is confirmed.
Weak Fertilizer Demand: Domestic fertilizer demand is delayed due to high prices and poor weather, and while some recovery is hoped for in Q2, part of the lost volume is seen as permanent.
Margin Pressure: Margins in the chemicals division are under pressure due to high ammonia costs, export bans, and Turkish prices running 20–25% below global levels.
SOCAR Polymer Valuation: The SOCAR Polymer stake remains valued at $60 million, 40% below the initial purchase price, with a new valuation study planned for later in the year.
