Fod sector review (Trive Yatırım Menkul Değerler )

Summary
The inflation in Turkey reached 64.8% by the end of 2023. It is expected that further tightening of the monetary policy will take
place and the key rate will be adjusted to higher levels. As such, it is crucial for investors to identify market instruments that will
help them to defend against inflation hikes and the stock picking process should be executed with additional patience.
In this context, sugar and confectionary companies enjoy relative security due to strategic factors. Their products benefit from
inelastic demand, with consumers maintaining a preference for sweets even in economic downturns. The ability to strategically
adjust pricing helps offset rising input costs, ensuring financial stability. Diversification in product offerings and potential export
opportunities further contribute to navigating domestic economic challenges. In essence, the defensive nature of the sugar and
confectionary industry, combined with effective cost management, places these companies in a resilient position amid high inflation.
We have identified 2 companies from the food subsector: KTSKR and OYLUM. The choice was based on superiority and sustainability
of their KPI’s (Revenue growth, margins), attractive valuation multiples (discounted EV/EBITDA, P/E), and secure financial position
(Debt ratio, Net Debt/EBITDA, and liquidity). Additional comparison with global industry leaders was performed.
 
 Trive Yatırım Menkul Değerler A.Ş.
  https://www.trive.com.tr/

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                        Yasal Uyarı
 
  Burada yer alan yatırım bilgi, yorum ve tavsiyeler yatırım danışmanlığı kapsamında değildir.Yatırım danışmanlığı hizmeti ; aracı kurumlar, portföy yönetim şirketleri, mevduat kabul etmeyen bankalar ile müşteri arasında imzalanacak yatırım danışmanlığı sözleşmesi çerçevesinde sunulmaktadır.Burada yer alan yorum ve tavsiyeler, yorum ve tavsiyede bulunanların kişisel görüşlerine dayanmaktadır.Bu görüşler mali durumunuz ile risk ve getiri tercihlerinize uygun olmayabılır.Bu nedenle, sadece burada yer alan bilgilere dayanılarak yatırım kararı verilmesi beklentilerinize uygun sonuçlar doğurmayabilir.