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Sasa doubles its profit

SASA has announced 2,7 billion-TL net sales in the second quarter. The net sales amount announced increased by 8% compared to the first quarter of 2021. In view of the six-month figures, sales increased by 182% year-on-year. Net profit became 532 million TL in the second quarter of 2021.

The company announced a 587,7 million-TL EBITDA this quarter. The EBITDA announced increased by 11% compared to the first quarter of 2021. EBITDA increased by 292% in the first half of the year.

Net profit was announced as 532 million TL in the second quarter of 2021. While the announced net profit took place as 384% higher than the last quarter, it increased by 223% compared to the first half of 2020.

SASA increased its operating income from 432 million TL to 600 million TL compared to the first quarter.

It stated that its Info Investment balance sheet will reflect on the share pricing positively. In the announcement, “While the first reason for the company’s increase its revenues in this item is the increase in sales and gross profit, the second reason was recorded as the foreign exchange income concerning trade receivables.

At the same time, the item of financial expenses dropped from 643 million TL to 354 million TL, with a decrease of 289 million TL. The assessment that reads: “SASA that has an incentive certificate as a deferred tax income considers the balance sheet of the company, which announced a net profit of 532 million TL in the second quarter of 2021 due to the increase in its sales and gross profit, its recording of currency difference income, and also the deferred tax revenues, as strong and we think that it will have a positive impact on the share pricing,” was included.

Bloomberg HT

6 August 2021