Is Yatirim Menkul Degerler (ISMEN)

Business description

Is Yatirim Menkul Degerler (also known as Is Investment) offers brokerage, corporate finance, investment advisory services and portfolio management services. It also has investments in four subsidiaries whose results it consolidates.

Stock data

Market cap.TRY624.8m
Last close1.76TRY
High / Low (52 weeks)1.8TRY / 1.0TRY
Stock market listingBIST
Forecast net debt (TRYm)N/A
Forecast gearing ratio (%)N/A
TeamFinancials
SectorFinancials

Price performance

%1m3m12m
Actual(1.1)15.872.6
Relative *3.310.729.3

* % Relative to local index

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Company news

BRIEF-Is Yatirim Menkul Degerler appoints Riza Ihsan Kutlusoy as general manager

Tue, 03 May 2016 15:10:00 GMT

Is Yatirim Menkul Degerler: Increasing Estimates Again

Mon, 14 Aug 2017 13:52:30 GMT

Erdogan-Inspired Incentives Seen Boosting Turkish Bank Profits

Mon, 24 Apr 2017 04:52:30 GMT

Is Yatirim Menkul Degerler: Performing Ahead Of Expectations

Thu, 11 May 2017 13:30:00 GMT

Turkey's Borsa Istanbul sets new record, hits above 97000 points

Wed, 24 May 2017 07:25:04 GMT

Y/E Dec Revenue (TRYm) EBITDA (TRYm) PBT (TRYm) EPS (Kr) P/E (x) P/CF (x)
2015A 377.5 N/A 33.7 11.4 15.4 N/A
2016A 438.9 N/A 54.3 15.1 11.7 N/A
2017E 561.9 N/A 134.1 29.5 6.0 N/A
2018E 566.6 N/A 133.6 24.8 7.1 N/A

Last updated on 24/08/2017

Investment summary

Is Yatirim's H117 results released on 28 July were ahead of expectations with a more settled political and economic environment in Turkey, which has seen a strong improvement across capital markets (the BIST100 Index is up 40% ytd). With the benefit of leading market positions, ISY has seen revenues increase across all product areas with particular strength in interest and trading. Meanwhile, costs have been kept under tight control and below the level of inflation, which is running in excess of 9% pa. The main driver was Is Investment, the core investment bank that, excluding foreign and domestic subsidiaries, saw an 86% increase in net income from TRY48.4m to TRY90.1m. Group revenues grew 40% y-o-y with interest and trading income up 60%, while costs grew 5% (cost-income ratio 61% vs 81% in H116).

Last updated on 06/09/2017

Industry outlook

The geopolitical background in Turkey appears to be more stable since the constitutional referendum. The president's meeting with the US president has helped to cement his authority and the final lifting of all Russian sanctions on 22 May 2017 has improved the outlook for the economy, lifting the BIST 100 Index.

Last updated on 06/09/2017

Key management

Özcan Türkakın, Chairman
Ozan Altan, IR Manager
Caglan Mursaloglu, Deputy CEO

Company address

İş Kuleleri, Kule-2 Kat 12
Istanbul
34330 4.
Turkey
+90 212 350 20 00
View website