Kredili Menkul Kiymet Listesi
Total Page:16
File Type:pdf, Size:1020Kb
Load more
Recommended publications
-
Günlük Bülten 12 Ağustos 2021 Piyasalarda Son Görünüm* USD/TL EUR/TRY EUR/USD BIST-100 Gram Altın Gösterge Tahvil 8,6314 10,1510 1,1744 1.411 485,9 18,27
Günlük Bülten 12 Ağustos 2021 Piyasalarda Son Görünüm* USD/TL EUR/TRY EUR/USD BIST-100 Gram Altın Gösterge Tahvil 8,6314 10,1510 1,1744 1.411 485,9 18,27 Yurt içinde bugün TCMB faiz kararı takip edilecek Haftalık Getiriler (%) 1,5 1,2 ● TCMB’nin politika faizini sabit tutması bekleniyor 1,0 0,7 0,4 ● ABD’de yıllık enflasyon, %5,4 düzeyinde yatay seyretti 0,5 ● ABD Senatosu, 3,5 trilyon $’lık harcama paketini onayladı 0,0 -0,5 Küresel çapta, ABD'de tüketici fiyatları temmuz ayında aylık bazda -1,0 %0,5 artış gösterdi. Haziran ayında aylık enflasyon %0,9 -1,5 -1,5 düzeyinde gerçekleşmiş idi. Bu temmuz ayı gerçekleşmesi ile, yıllık -2,0 -1,7 enflasyon da %5,4 düzeyinde yatay seyretti. Yıllık çekirdek enflasyon Dolar/TL Euro/TL Gram Altın BIST-100 Gösterge Tahvil ise, %4,5'ten %4,3'e geriledi. ABD‘de özellikle enflasyon ve işgücü piyasasına yönelik veriler, Fed'in varlık alımlarında azaltıma Veriler (Bugün) Önceki Beklenti başlayabileceği tarih açısından kritik öneme sahip. TCMB Faiz Kararı (%) 19,0 19,0 Euro Bölgesi Sanayi Bölgesi ABD Senatosu, Başkan Biden'ın ekonomik reform takviminde -1,0 0,2 (Haziran, aylık % değişim, m.a.) bulunan 3,5 trilyon $ tutarındaki bütçe taslağına 50'ye karşı 49 oy ile onay verdi. Tasarının, ABD hükümetinin sosyal ve çevresel konulara yönelik daha fazla harcama yapmasına imkan tanıyacağı Yatırımcı Takvimi için tıklayınız belirtiliyor. Küresel çapta günlük vaka sayıları 7 günlük ortalamalar Devlet Tahvili Getirileri bazında artış eğilimini sürdürürken, ABD'de ve Avrupa'da, aşı (%) 11/08 10/08 2020 olmayanlara yönelik kısmi zorlayıcı tedbirler yürürlüğe giriyor. -
KOC SS RAPORU 08 Buke.Fh11
Corporate Social Responsibility Report 2008 Contents 02 Message from the Chairman Message from the CEO of the Ko Group 04 06 Scope of the Report Values of the Ko Group 07 08 Creating Value at Ko R&D and Innovation at Ko 10 18 Social Responsibility at Ko Group Respect for Human Rights at Ko Group 32 38 Working Environment at Ko Group Environmentally-Friendly Practices of Ko Group 50 66 Ethical Values at Ko The Global Compact 69 THE KO GROUP 01 CORPORATE SOCIAL RESPONSIBILITY REPORT 2008 We, Ko Group, with all our people, aspire to ensure customer satisfaction and sound growth by providing products and services of universal quality and standards. We are committed to being a symbol of trust, continuity and esteem for our country, customers, shareholders, dealers, and suppliers. Message from the Chairman We regard corporate social responsibility as an indispensible part of our business approach, in line with the conscience transmitted to us by the late Vehbi Ko. Distinguished Shareholders, In the era of globalization, even though there are still humanity, the coming generations, and for ourselves as geographic boundaries, economic boundaries no longer well. exist. Developments in one country affect another country on the other side of the world with unprecedented speed. During this difficult crisis period that, we, the Ko Group, The latest example is the financial crisis originating in the continue to be a driving force forwards economic U.S.A. and causing turbulence in all economies around development with domestic investments, steps towards the world in a very short time. developing new sectors of production, and our globally known brands. -
1 Ocak 2021 Itibariyle Şirketlerin Katilim Endeksi
1 OCAK 2021 İTİBARİYLE ŞİRKETLERİN KATILIM ENDEKSİ KRİTERLERİNE UYGUNLUK DURUMU & ARINDIRMA ORANLARI Faaliyet alanı, grubu ve pazarı uygun olmayan şirketlerin finansal kriterleri hesaplanmamaktadır. Faizli krediler / (piyasa değeri ya da aktif toplamdan büyük olanı) < %33 kriterini geçemeyen şirketlerin diğer finansal kriterleri hesaplanmamaktadır. Faiz Getirili Nakit/(piyasa değeri ya da aktif toplamdan büyük olanı)<%33 kriterini geçemeyen şirketlerin diğer finansal kriterleri hesaplanmamaktadır. Toplam Faizli Uygunsuz Krediler / Piyasa (Nakit+Menkul Uygun Olmayan Sıra Hisse Kodu Hisse Adı Gerekçe Değeri veya Aktif (< Kıymet)/Piyasa Değeri Faaliyetlerden Gelir / %33) veya Aktif (<%33) Toplam Gelir (< %5) 1 BIMAS Bim Mağazalar Uygun 0,0% 0,0% 0,2% 2 EREGL Ereğli Demir Çelik Uygun 14,4% 25,3% 2,7% 3 ASELS Aselsan Uygun 9,6% 5,5% 1,5% 4 THYAO Türk Hava Yolları Uygun 18,3% 4,6% 4,3% 5 CCOLA Coca Cola İçecek Uygun 29,5% 18,4% 1,8% 6 GUBRF Gübre Fabrik. Uygun 22,7% 11,5% 0,3% 7 BERA Bera Holding Uygun 26,3% 0,0% 0,5% 8 TKFEN Tekfen Holding Uygun 14,0% 15,6% 1,2% 9 OYAKC Oyak Çimento Uygun 9,7% 6,2% -22,6% 10 PGSUS Pegasus Uygun 7,5% 12,4% 2,6% 11 EGEEN Ege Endüstri Uygun 4,3% 22,0% 2,1% 12 TTRAK Türk Traktör Uygun 30,7% 32,9% 2,3% 13 MAVI Mavi Giyim Uygun 30,2% 22,6% 1,5% 14 LOGO Logo Yazılım Uygun 7,6% 7,9% 2,8% 15 KARTN Kartonsan Uygun 0,0% 7,4% 1,8% 16 SELEC Selçuk Ecza Deposu Uygun 0,6% 10,6% 0,7% 17 ISDMR İskenderun Demir Çelik Uygun 4,9% 0,2% 1,3% 18 RTALB RTA Laboratuvarları Uygun 1,5% 0,1% 2,8% 19 CEMAS Çemaş Döküm Uygun 0,3% 17,9% -
Retirement Strategy Fund 2060 Description Plan 3S DCP & JRA
Retirement Strategy Fund 2060 June 30, 2020 Note: Numbers may not always add up due to rounding. % Invested For Each Plan Description Plan 3s DCP & JRA ACTIVIA PROPERTIES INC REIT 0.0137% 0.0137% AEON REIT INVESTMENT CORP REIT 0.0195% 0.0195% ALEXANDER + BALDWIN INC REIT 0.0118% 0.0118% ALEXANDRIA REAL ESTATE EQUIT REIT USD.01 0.0585% 0.0585% ALLIANCEBERNSTEIN GOVT STIF SSC FUND 64BA AGIS 587 0.0329% 0.0329% ALLIED PROPERTIES REAL ESTAT REIT 0.0219% 0.0219% AMERICAN CAMPUS COMMUNITIES REIT USD.01 0.0277% 0.0277% AMERICAN HOMES 4 RENT A REIT USD.01 0.0396% 0.0396% AMERICOLD REALTY TRUST REIT USD.01 0.0427% 0.0427% ARMADA HOFFLER PROPERTIES IN REIT USD.01 0.0124% 0.0124% AROUNDTOWN SA COMMON STOCK EUR.01 0.0248% 0.0248% ASSURA PLC REIT GBP.1 0.0319% 0.0319% AUSTRALIAN DOLLAR 0.0061% 0.0061% AZRIELI GROUP LTD COMMON STOCK ILS.1 0.0101% 0.0101% BLUEROCK RESIDENTIAL GROWTH REIT USD.01 0.0102% 0.0102% BOSTON PROPERTIES INC REIT USD.01 0.0580% 0.0580% BRAZILIAN REAL 0.0000% 0.0000% BRIXMOR PROPERTY GROUP INC REIT USD.01 0.0418% 0.0418% CA IMMOBILIEN ANLAGEN AG COMMON STOCK 0.0191% 0.0191% CAMDEN PROPERTY TRUST REIT USD.01 0.0394% 0.0394% CANADIAN DOLLAR 0.0005% 0.0005% CAPITALAND COMMERCIAL TRUST REIT 0.0228% 0.0228% CIFI HOLDINGS GROUP CO LTD COMMON STOCK HKD.1 0.0105% 0.0105% CITY DEVELOPMENTS LTD COMMON STOCK 0.0129% 0.0129% CK ASSET HOLDINGS LTD COMMON STOCK HKD1.0 0.0378% 0.0378% COMFORIA RESIDENTIAL REIT IN REIT 0.0328% 0.0328% COUSINS PROPERTIES INC REIT USD1.0 0.0403% 0.0403% CUBESMART REIT USD.01 0.0359% 0.0359% DAIWA OFFICE INVESTMENT -
ALARKO HOLDİNG A.Ş. General Assembly Information Document
ALARKO HOLDİNG A.Ş. General Assembly Information Document INFORMATION DOCUMENT FOR ALARKO HOLDİNG A.Ş.’S 2019 ORDINARY GENERAL ASSEMBLY MEETING Dear Shareholders, Our Board of Directors resolved to hold the Annual Ordinary General Assembly Meeting for the year 2019 on 14.07.2020 at 15:00 at the address “Muallim Naci Cad. No.69 Alarko Merkezi Ortaköy/İSTANBUL” Shareholders, as of 1527 no. article 6102 no. Turkish Commercial Code, can participate physically to the General Assembly as well as participate in Electronic platform and vote. Our shareholders willing to participate our company’s Ordinary General Assembly Meeting in Electronic Platform have to register to e-MKK information portal and themselves or their representatives have to hold Electronic Signature Certificate or mobile signature. Persons willing to participate in Electronic Platform or appoint a representative in electronic platform have to register this participation method to e-GKS (Electronic General Assembly System) one day before the day of the general assembly until 21:00 hours. If the person appointed in e-GKS as representative is willing to participate to the meeting in electronic platform, that that person has to register this participation method to e-GKS in the same time period. Our shareholders willing to participate to the meeting in Electronic Platform have to complete the procedures as of the clauses of “Regulations Regarding General Assemblies of Corporations to be Held in Electronic Platform” published in the 28.08.2012 dated and 28395 numbered official gazette and “Communiqué Regarding Electronic General Assembly System to be Applied in General Assemblies of Corporations” published in the 29.08.2012 dated and 28396 numbered official gazette. -
Transparency Report 2016
Transparency Report Year Ended 30 September 2016 Akis Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik Anonim Şirketi 31 January 2017 Contents 1 Message from the Senior Partner 4 2 Who we are 5 2.1 Our business 5 2.2 Our strategy 5 3 Our structure and governance 6 3.1 Legal structure 6 3.2 Name, Ownership and legal relationship 6 3.3 Responsibilities and obligations of member firms 6 3.4 Governance structure 7 4 System of quality control 9 4.1 Tone at the top 11 4.2 Association with the right clients 12 4.3 Clear standards and robust audit tools 14 4.4 Recruitment, development and assignment of appropriately qualified personnel 19 4.5 Commitment to technical excellence and quality service delivery 20 4.6 Performance of effective and efficient audits 22 4.7 Commitment to continuous improvement 26 2 Akis Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik AŞ Transparency Report 2016 5 Financial Information 30 6 Partner Remuneration 30 7 Network arrangements 31 7.1 Legal Structure 31 7.2 Responsibilities and obligations of member firms 31 7.3 Professional Indemnity Insurance 31 7.4 Governance structure 31 7.5 Area Quality & Risk Management Leaders 32 8 Statement by the Board of Akis on the effectiveness of quality controls and independence 33 Appendix 1. Akis Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik AŞ Ownership Structure 34 Appendix 2. Public-Interest Entities 35 Appendix 3. KPMG Values 38 Appendix 4. Details of those charged with governance at Akis 39 Akis Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik AŞ Transparency Report 2016 3 Message from the 1 Senior Partner Our values, beliefs, our joie-de-vivre and our Being aware of our story and pursuing it has points of interpreting life were determining the enhanced our integrity, strength and vitality. -
Strong Foundations Healthy Performance
STRONG FOUNDATIONS HEALTHY PERFORMANCE 2019 ANNUAL REPORT 2019 ANNUAL REPORT CONTENTS Anadolu Isuzu continues its Introduction 2 CORPORATE PROFILE operations in line with its growth 4 2019 FINANCIAL AND OPERATIONAL HIGHLIGHTS 6 HIGHLIGHTS IN 2019 strategy without interruption with 12 MESSAGE FROM THE CHAIRMAN OF THE BOARD OF DIRECTORS the market diversity its product 14 MESSAGE FROM THE PRESIDENT OF THE AUTOMOTIVE GROUP 16 MESSAGE FROM THE GENERAL MANAGER portfolio provides, its marketing 20 ANADOLU ISUZU FROM PAST TO PRESENT 22 SHAREHOLDERS OF ANADOLU ISUZU competencies and the support of 26 ANADOLU ISUZU’S PRODUCT PORTFOLIO its shareholders in the light of its 42 THE ECONOMY IN TURKEY AND THE WORLD 43 OVERVIEW OF THE SECTOR strengthening financial structure. In 2019 Tuğrul Arıkan 46 IN SUMMARY General Manager 47 EXPORT ACTIVITIES 53 MARKETING AND DEALER NETWORK DEVELOPMENT ACTIVITIES 55 AFTER-SALES SERVICES 56 SUPPLY CHAIN AT ANADOLU ISUZU 58 R&D AT ANADOLU ISUZU 62 PRODUCTION 64 ANADOLU ISUZU AND THE ENVIRONMENT 67 INDUSTRY 4.0 AND DIGITALIZATION PROJECTS 69 IM GLOBAL LEADER COMPANY 71 ENERGY PERFORMANCE OF ANADOLU ISUZU 72 HUMAN RESOURCES 78 OHS/EMPLOYEE SAFETY 79 SOCIAL AWARENESS PROJECTS AT ANADOLU ISUZU Corporate Governance 82 BOARD OF DIRECTORS 87 SENIOR MANAGEMENT 90 ORGANIZATION CHART 92 INDEPENDENT AUDIT REPORT 94 OTHER INFORMATION ABOUT ACTIVITIES 102 2019 AFFILIATE REPORT 103 CORPORATE GOVERNANCE Financial Information 125 CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD 31 DECEMBER 2019 AND INDEPENDENT AUDITOR’S REPORT FOR -
Sıra No Kod Banka Adı Kod Banka
Tablo: TCMB Ödeme Sistemleri Katılımcı Listesi (2020) Koda Göre Sıralama Alfabetik Sıralama SIRA NO KOD BANKA ADI KOD BANKA ADI 1 0001 T.C. MERKEZ BANKASI 0100 ADABANK A.Ş. 2 0004 İLLER BANKASI A.Ş. 0046 AKBANK T.A.Ş. 3 0010 T.C.ZİRAAT BANKASI A.Ş. 0143 AKTİF YATIRIM BANKASI A.Ş. 4 0012 T. HALK BANKASI A.Ş. 0203 ALBARAKA TÜRK KATILIM BANKASI A.Ş. 5 0014 T. SINAİ KALKINMA BANKASI A.Ş. 0124 ALTERNATİFBANK A.Ş. 6 0015 T. VAKIFLAR BANKASI T.A.O 0135 ANADOLUBANK A.Ş. 7 0016 T. EXİMBANK 0091 ARAP TÜRK BANKASI 8 0017 T. KALKINMA BANKASI A.Ş. 0149 BANK OF CHINA TURKEY A.Ş. 9 0029 BİRLEŞİK FON BANKASI A.Ş. 0142 BANKPOZİTİF KREDİ VE KALK.BANK.A.Ş. 10 0032 T. EKONOMİ BANKASI A.Ş. 0029 BİRLEŞİK FON BANKASI A.Ş. 11 0046 AKBANK T.A.Ş. 0125 BURGAN BANK A.Ş. 12 0059 ŞEKERBANK T.A.Ş. 0092 CITIBANK A.Ş. 13 0062 T. GARANTİ BANKASI A.Ş. 0134 DENİZBANK A.Ş. 14 0064 T. İŞ BANKASI A.Ş. 0115 DEUTSCHE BANK A.Ş. 15 0067 YAPI VE KREDİ BANKASI A.Ş. 0138 DİLER YATIRIM BANKASI A.Ş. 16 0091 ARAP TÜRK BANKASI 0103 FİBABANKA A.Ş. 17 0092 CITIBANK A.Ş. 0150 GOLDEN GLOBAL YATIRIM BANKASI A.Ş.(*) 18 0096 TURKISH BANK A.Ş. 0139 GSD YATIRIM BANKASI A.Ş. 19 0098 JPMORGAN CHASE BANK N.A. 0123 HSBC BANK A.Ş. 20 0099 ING BANK A.Ş. 0109 ICBC TURKEY BANK A.Ş. 21 0100 ADABANK A.Ş. -
Günlük Bülten S&P 500 Brent Petrol USD Endeks %0.42 -%0.21 -%0.43
Türkiye | Piyasalar 09 Nisan 2021 Cuma Günlük Bülten S&P 500 Brent Petrol USD Endeks %0.42 -%0.21 -%0.43 Ekonomik Veriler Açıklanacak Veriler Saat Piyasa Yorumu: Amerika ÜFE 15:30 TSİ Bu sabah BIST100’de karışık bir açılış bekliyoruz. Bankacılık hisse Hisse Senedi Piyasası senetlerindeki satışların devam etmesi nedeniyle endekste zayıf seyir devam ediyor. 35,000 1,450 30,000 1,440 Bu sabah karışık açılış ve sonrasında 1400 – 1440 arasında işlem 1,430 25,000 aktivitesi bekliyoruz. 1,420 20,000 1,410 15,000 1,400 1,390 10,000 1,380 Bugünün Haberleri: 5,000 1,370 0 1,360 Piyasa Gelişmesi 31-Mar 01-Nis 02-Nis 05-Nis 06-Nis 07-Nis 08-Nis İşlem Hacmi, TRY mln BIST 100 . TCMB Haftalık Veriler - Yabancı çıkışı düşük ivmede de olsa devam etti; hisse senetlerindeki baskı kuvvetli Bono Piyasası 20.0 19.5 Hisse Senetleri 19.0 15.0 . DOHOL; Bağlı Ortaklık Galata Wind Enerji A.Ş. paylarının halka arz 18.5 10.0 edilmesi için SPK onayı gerçekleşti / olumlu 18.0 5.0 17.5 . INDES; SPK bedelsiz sermaye artırımını onayladı / sınırlı olumlu 0.0 17.0 31-Mar 01-Nis 02-Nis 05-Nis 06-Nis 07-Nis 08-Nis Ekonomik Veriler İşlem Hacmi, TRY mln Türkiye 2030 . 09.00: Almanya, sanayi üretimi, %1.5-aylık, %-2.3-yıllık, Şubat, Endeksler, para piyasaları ve emtia . 10.00: Türkiye, TCMB Beklenti Anketi, Nisan, Kapanış Önceki 1 Gün 1 Ay Yıl Baş. BIST100 1,417 1,418 -0.1% -7.4% -4.1% İşlem Hacmi, TL mln 24,239 25,117 -3.5% -34.9% -33.6% . -
TCD Fiyat Raporu.Pdf
TACİRLER PORTFÖY DEĞİŞKEN FON 31 ARALIK 2020 TARİHLİ FON TOPLAM DEĞER TABLOSU TUTAR (TL) GRUP % TOPLAM % FON TOPLAM DEĞERİ 685.329.575,59 A. FON PORTFÖY DEĞERİ 710.498.830,91 103,67 Toplam Pay Sayısı 500.000.000,000 B. HAZIR DEĞERLER 2.386.338,36 0,35 Dolaşımdaki Pay 155.897.901,000 a) Kasa 0,00 0,00 0,00 Kurucunun Elindeki Pay Sayısı 344.102.099,000 b) Bankalar 13.045,89 0,55 0,00 c) Diğer Hazır Değerler 2.373.292,47 99,45 0,35 Dolaşımdaki Pay Oranı % 31,18 BİRİM PAY DEĞERİ 4,396015 C.ALACAKLAR 50.245.932,13 7,33 Günlük Vergi a)Takastan Alacaklar Toplamı 50.166.973,11 100,00 7,32 Günlük Yönetim Ücreti 0,00 i) T1 Alacakları 0,00 0,00 Bir Gün Önceki Fiyat 4,382248 ii) T2 Alacakları 43.663.576,41 0,00 Bir Gün Önceki Vergi 0,00 iii) İleri Valörlü Takas Alacakları 6.503.396,70 0,00 Getiri (%) 0,314150 b) Diğer Alacaklar 78.959,02 0,01 i) Diğer Alacaklar 12.896,92 0,00 ii) Vergi Alacakları 0,00 0,00 iii) Mevduat Alacakları 0,00 0,00 USD TCMB ALIS KURU 7,4194 iv) Temettu 66.062,10 0,01 EURO TCMB ALIS KURU 9,1164 TUTAR GRUP % TOPLAM % D. BORÇLAR -77.801.525,81 -11,35 a) Takasa Borçlar -74.284.382,66 95,48 -10,84 i) T1 Borçları 0,00 ii) T2 Borçları -64.439.502,19 iii) İleri Valörlü Takas Borçları -9.844.880,47 iv) İhbarli FonPay Takas -2.554.561,36 b) Yönetim Ücreti -755.233,45 0,97 -0,11 c) Ödenecek Vergi 0,00 0,00 0,00 d) İhtiyatlar 0,00 0,00 0,00 e) DİGER_BORÇLAR -173.081,86 0,27 -0,03 i) Diğer Borçlar -148.925,86 -0,02 ii) Denetim Reeskontu -24.156,00 0,00 f) Kayda Alma Ücreti -34.266,48 0,04 -0,01 g) Krediler 0,00 0,00 0,00 TACİRLER PORTFÖY -
En-Isbank2009.Pdf
Contents Presentation 1 İşbank at the onset of 2010 2 Turkey’s Bank 4 İşbank since 1924 5 İşbank’s Vision, Objectives, and Strategy 6 Pioneering Activities 7 İşbank’s Financial Indicators and Shareholder Structure 8 Chairman’s Message 12 CEO’s Message 18 İşbank’s transformation journey: Customer Centric Transformation (MOD) 20 The Economic Outlook in 2009 26 İşbank in 2009 49 Subsidiaries 54 Corporate Social Responsibility at İşbank 60 Annual Report Compliance Opinion Management and Corporate Governance at İşbank 62 Board of Directors & Auditors 64 Executive Committee 66 Organization Chart 68 Managers of Internal Systems 68 Information About the Meetings of the Board of Directors 69 İşbank Committees 71 Human Resources Functions at İşbank 72 Information on the Transactions Carried out with İşbank’s Risk Group 72 Activities for which Support Services are Received in Accordance with the Regulation on Procurement of Support Services for Banks and Authorization of Organizations Providing this Service 73 İşbank’s Dividend Distribution Policy 74 Agenda of the Annual General Meeting 75 Report of the Board of Directors 76 Auditors’ Report 77 Dividend Distribution Proposal 78 Corporate Governance Principles Compliance Report Financial Information and Assessment on Risk Management 89 Audit Committee’s Assessments on the Operation of Internal Control, Internal Audit and Risk Management Systems, and Their Activities in the Reported Period 91 Independent Auditors’ Report 92 Unconsolidated Financial Statements 102 Financial Highlights and Key Ratios -
Turkish Airlines Aviation
GENEL-PUBLIC March 8, 2018 Equity Research Turkish Airlines Aviation Company update Europeans are back Strong demand continue to support industry. Turkish Airlines recorded 15.5% YoY O&D pax growth, resulting in overall 8.4% BUY YoY international pax growth in 2017. In the same year, although foreign arrivals to Turkey recovered much by 27.8% YoY almost in Share price: TL17.37 all regions, European arrivals stayed flattish in 2017. Our conversations with Association of Turkish Travel Agencies claimed Target price: TL21.60 that summer bookings from Western Europe has jumped much by 60% YoY for 2018. Furthermore, summer bookings from domestic Expected Events tourist figures jumped to 6 million versus 5 million in previous year. We now estimate Turkish Airlines will carry 42.2 mn international March THY February-18 traffic passenger and 33.1 mn domestic passenger, overall resulting to April, 9th Market traffic results (March) 9.7% YoY passenger growth and improvement of 2.9 ppt in load factor to 82.1% in 2018E vs 79.1% in 2017. Although we revised up our revenue estimate of 2018E much by 6.7%, we cut down EBITDA margin estimate by 1ppt on the back of upward revision in our oil estimates and ex-fuel CASK by 5.9% after 4Q17 results Key Data performing worse than our estimates. Accordingly, we project THY to generate 13.2% revenue and 9.9% EBITDA CAGR over our Ticker THYAO forecast period (2017-2019E). Share price (TL) 17.37 There is still room for improvement on our assumptions. The 52W high (TL) 19.57 shares have gained 10.7% so far this year outperforming the 52W low (TL) 5.38 benchmark BIST 100 index by 9.4 percentage points.